Three Things (June 15th)
Jun 15, 2021
1. Apple announces health-focused improvements to the Apple Watch
Apple has announced future improvements to the Apple Watch, including features which will enable consumers to monitor their blood temperature and record their glucose-levels. While these upgrades aren’t revolutionary in an innovation sense, we consider them a growth vertical that should prove materially positive for Apple over the longer term, despite their seeming insignificance today. We consider the healthcare industry ripe for disruption, and Apple’s slow foray into consumer health suggests to us that the historically difficult-to-disrupt $3tn healthcare industry will increase its adoption of digital technologies, bringing in additional revenue streams to companies like Apple in the not-so-distant future. As we like to say, it doesn’t matter until it does.
2. Amazon looks to adopt SmartSheet’s collaboration tools for employees
Amazon is in talks with SmartSheet to adopt the company’s collaboration tools for Amazon employees. SmartSheet, held in Titan’s Opportunities portfolio, enables businesses to plan, capture, manage, automate, and improve their processes. Although Amazon’s partnership would be a boost to SmartSheet’s revenues, the potential deal suggests that the demand environment for enterprise software continues to strengthen, as a result of the economic reopening and the durability of remote work.Additionally, SmartSheet’s increased presence within large enterprises should be a tailwind for future growth, as prior users are primed to recommend the product to future employers.
3. Singapore-based online car marketplace Carro raises $360M Series C, led by SoftBank
Carro, one of southeast Asia’s largest online automotive marketplaces, enables users to buy, sell, and lease both new and pre-owned vehicles, and includes financing and insurance services. The start-up’s latest round of funding, led by SoftBank’s Vision Fund 2, will be used for acquisitions and further development of AI capabilities. The adoption of electric vehicles, much-discussed on Three Things, has fueled a boom in pre-owned car sales for Carro, as users look to off-load their combustion engine vehicles.This news stands at the intersection of two trends we’re watching with interest: the boom in ecommerce and the rise of electric vehicles.
Cash Management
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