The social media sphere is constantly evolving. The latest news is that Instagram is no longer a photo sharing app, according to Adam Mosseri, the Head of Instagram. In a video posted to his Instagram and Twitter accounts, Mosseri said the company is looking to dial up its focus on entertainment and video after seeing the success of competitors like TikTok and YouTube.

News:

• More ‘Together Mode’ options ? Microsoft is adding support for smaller gatherings to its ‘Together Mode’ feature of Teams, which uses AI to place participants into virtual environments.
• Pinterest bans weight-loss ads ? Pinterest says it is a response to a rise in eating disorders since the pandemic started, as reported by the National Eating Disorders Association (NEDA).

Start-up:

• 5G is the way forward ? Movandi is one of the fastest growing 5G mmWave solutions focused on improving WiFi connectivity, coverage and reduce latency speeds. Thus, helping to enable more AI applications and grow data volume. Click here to learn more!

Insights:

• It’s coming home! According to the Twitter Marketing team, Euro 2020 conversations have generated 42.3 billion impressions so far.
• The Chinese fast-fashion app, Shein, tripled its valuation between 2019 to August 2020, by jumping to $15 billion.
• Research by Snapchat shows that Lenses has 45% higher purchases on average, when looking at any-touch compared to last-touch conversions.
• Got any chips? Tech giant, Samsung Electronics, has said it expects its quarterly profit to rise by 53% amid a global chip shortage.