It's the biggest SPAC to date, though the stock fell more than 20% by the closing bell. Grab, the "everyday everything app" from Singapore, made its public debut yesterday after a $40 billion SPAC deal.Dance videos are just the bait - commerce is the hook, and ByteDance is building services for more than limber-limbed teens. ByteDance (TikTok's parent company) invested in iMile, a last-mile courier service that connects mostly Chinese e-commerce companies to consumers in the Middle East.Twitter would give Block even more dimension. "Square" will be reserved for the merchant-payment business the three-dimensional moniker encapsulates all its various products. Square changed its name to Block - this was announced 48 hours after Dorsey exited Twitter.It was timely: superapp stories have been in the news ever since. I wrote about superapps last week in New York magazine, and excerpts from that article appear below. Building social into the platform is the logical next step to becoming America's first superapp. Streaming (Tidal), and its core merchant-payment platform (Square). Block already boasts an armament of superapp services: peer-to-peer payments (ĬashApp ), crypto and stock trading (also CashApp), lending (AfterPay), food delivery (Caviar), music superapps.Ī superapp offers a suite of internet services on one platform. Why? For the same reason it's now called Block. Jack could also reunite his sister-wives - in a man-bites-dog scenario, the company formerly known as Square could acquire Twitter.
My next prediction? Twitter will be acquired by the end of 2022, most likely by SalesForce or a fintech company like PayPal or Stripe with inflated currency.
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