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🚗Uber buys Car Next Door to broaden its offering
🎬Disney forms an international content group
🥤Coke changes its packaging
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Here's everything you need to know today - in under 3 minutes.
🚗Uber buys Car Next Door to broaden its offering
🎬Disney forms an international content group
🥤Coke changes its packaging
Milkrun, the Aussie delivery company that promises super-speedy grocery deliveries (we're talkin' under 10 minutes) has just banked a huge $75 million in funding…less than 8 months after the company launched. Not bhed.
Background: Car Next Door is a peer-to-peer car rental service. In other words, car-owners can rent their cars on an hourly or daily basis to other people.
What happened: In 2013, they had around 20 cars on the platform. Now, they have over 3,500 cars and 100,000 thirsty drivers across major Aussie cities.
What else: Now, Uber has acquired Car Next Door for an undisclosed amount (robbing us of a scoop, WE KNOW). The idea is that Car Next Door will give Uber users a different option...and avoid that awks small talk.
💡To own an industry, a company needs to have product diversification. And it's particularly important for businesses that have been experiencing a bit of a growth rut.
💡Product diversification can be things like repackaging an existing product, renaming a product...or it could be a product extension (i.e. giving customers the opportunity to rent a car as opposed to just hitching a ride in one).
💡Up until now, Uber customers haven't had the option to take a mid-range or long-distance trip. But, the deal with Car Next Door will change that, and hopefully boost Uber's bottom line.
Background: Disney+ is home to banger shows like WandaVision, The Mandalorian...and pretty much every Marvel movie and spin-off you can think of.
What happened: Disney+ have repeatedly said they want to reach 230-260 million subscribers by 2024. Right now, they've got around 179 million across all their platforms.
What else: To hit their target, Disney+ are going deep into content. They have formed an international content team to create unique and catered content for more than 160 countries.
💡In the streaming world, content is king...but streaming costs can be queen. It's generally the big shows, films and hype that draws in the subscriber (ya know, like Squid Game-style).
💡But there's another lever to drive subscriber growth: the subscription cost. Netflix just decreased its subscription price in India because hit has just 5 million of the country's 1.4 billion population are subscribers.
💡So by lowering prices, Netflix reckons it could entice more users to join the platform...and help the company reach its next 100 million subscribers. And Disney+ might wanna take a leaf out of their book.
Background: Coca-Cola is probably most famous for its delicious, fizzy goodness known as Coke. Ya know, crimson red can...couple burps...bit of a sugar rush.
What happened: While things have been going well at Coke HQ...they reckon Coke needs a fresh, new look.
What else: In the US, Coke is launching magenta cans and bottles for its Cherry Coke flavour. And, a cream-coloured can for Vanilla Coke. The idea is, a new look will help Coke stand out on the shelf. If successful, it might hit Aussie shores soon.
💡For fast-moving consumer goods like Coke, looks matter. And a good shelf presence can be all the difference.
💡A good shelf presence comes down to three factors:
💡By switching up its packaging, Coke is hoping to engage shoppers at their most important touchpoint (the supermarket) and boost sales.
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