LA Tech Updates: Peacock Hits 10 Million Users; TikTok's $2 Billion Creator Fund Goes After Instagram, Youtube

Francesca Billington

Francesca Billington is a freelance reporter. Prior to that, she was a general assignment reporter for dot.LA and has also reported for KCRW, the Santa Monica Daily Press and local publications in New Jersey. She graduated from Princeton in 2019 with a degree in anthropology.

LA Tech Updates: Peacock Hits 10 Million Users; TikTok's $2 Billion Creator Fund Goes After Instagram, Youtube

Here are the latest updates on news affecting Los Angeles' startup and tech communities. Sign up for our newsletter and follow dot.LA on Twitter for more.

Today:

  • Peacock Hits 10 Million Users
  • TikTok Promises $2 Billion for Creators Over 3 Years as Rivalry with Facebook Heats Up

        Peacock hits 10 million users 

        Peacock Will Be Available on Google and Android Devices in July NBCUniversal

        NBCUniversal's new streaming service Peacock has hit 10 million users three months after its debut. The figure represents both new members who joined since July 15 when it launched for the general public and users who signed up in April when the platform opened exclusively to Comcast play TV customers.

        NBCUniversal is the latest to join the so-called streaming wars. Unlike some competitors, Peacock offers a free tier subscription for members to watch most content with ads. Last week, it rolled out a "Roll to Tokyo" channel dedicated to the 2021 Summer Olympics as one way to attract subscribers.

        Comcast Corp. reported the figures on Thursday during their second quarter earnings and it was a bright spot for the company.

        "Across the board, we're better than expectations," NBCUniversal CEO Jeff Shell told investors during their call. "We didn't expect this many sign-ups, we didn't expect people to come back as frequently as they're coming back and we didn't expect people to watch as long as they're watching once they come back."

        Executives have said their goal is to gain 30 million to 35 million users and $2.5 billion in revenue by 2024.

        TikTok Promises $2 Billion for Creators Over 3 Years as Rivalry with Facebook Heats Up

        TikTok announced it'll pay creators almost $2 billion over the next three years to support their careers online, a move that marks territory as rival Instagram's prepares to join the space with its service Reels.

        The Culver City-based company launched the TikTok Creator Fund last week to "encourage those who dream of using their voices and creativity to spark inspiration careers," TikTok General Manager Vanessa Pappas wrote in a blog post.

        The fund, which was originally set at $200 million before Thursday's update, will start accepting applications from U.S. creators in August.

        It's a signal that CEO Kevin Mayer has ratcheted up their efforts to take on competitors like YouTube and Instagram. On Wednesday he called Reels by Instagram, a Facebook owned company, a "copycat product."


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        Greater Good Health Raises $10 Million To Fix America’s Doctor Shortage

        Keerthi Vedantam

        Keerthi Vedantam is a bioscience reporter at dot.LA. She cut her teeth covering everything from cloud computing to 5G in San Francisco and Seattle. Before she covered tech, Keerthi reported on tribal lands and congressional policy in Washington, D.C. Connect with her on Twitter, Clubhouse (@keerthivedantam) or Signal at 408-470-0776.

        Greater Good Health Raises $10 Million To Fix America’s Doctor Shortage
        Courtesy of Greater Good Health

        The pandemic highlighted what’s been a growing trend for years: Medical students are prioritizing high-paying specialty fields over primary care, leading to a shortage of primary care doctors who take care of a patient’s day-to-day health concerns. These physicians are a cornerstone of preventative health care, which when addressed can lower health care costs for patients, insurers and the government. But there’s a massive shortage of doctors all over the country, and the pipeline for primary care physicians is even weaker.

        One local startup is offering a possible answer to this supply squeeze: nurse practitioners.

        On Wednesday, Manhattan Beach-based Greater Good Health unveiled a $10 million Series A funding round led by LRVHealth, which adds to the startup’s $3 million seed round last year. The company employs nurse practitioners and pairs them with doctor’s offices and medical clinics; this allows nurse practitioners to take on patients who would otherwise have to wait weeks, or even months, to see a doctor.

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        Plus Capital Partner Amanda Groves on Celebrity Equity Investments

        Minnie Ingersoll
        Minnie Ingersoll is a partner at TenOneTen and host of the LA Venture podcast. Prior to TenOneTen, Minnie was the COO and co-founder of $100M+ Shift.com, an online marketplace for used cars. Minnie started her career as an early product manager at Google. Minnie studied Computer Science at Stanford and has an MBA from HBS. She recently moved back to L.A. after 20+ years in the Bay Area and is excited to be a part of the growing tech ecosystem of Southern California. In her space time, Minnie surfs baby waves and raises baby people.
        PLUS Capital​’s Amanda Groves.
        Courtesy of Amanda Groves.

        On this episode of the L.A. Venture podcast, Amanda Groves talks about how PLUS Capital advises celebrity investors and why more high-profile individuals are choosing to invest instead of endorse.

        As a partner at PLUS, Groves works with over 70 artists and athletes, helping to guide their investment strategies. PLUS advises their talent roster to combine their financial capital with their social capital and focus on five investment areas: the future of work, future of education, health and wellness, the conscious consumer and sustainability.

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        Rivian Stock Roller Coaster Continues as Amazon Van Delivery Faces Delays

        David Shultz

        David Shultz is a freelance writer who lives in Santa Barbara, California. His writing has appeared in The Atlantic, Outside and Nautilus, among other publications.

        Rivian Stock Roller Coaster Continues as Amazon Van Delivery Faces Delays
        Courtesy of Rivian.

        Rivian’s stock lost 7% yesterday on the back of news that the company could face delays in fulfilling Amazon’s order for a fleet of electric delivery vans due to legal issues with a supplier. The electric vehicle maker is suing Commercial Vehicle Group (CVG) over a pricing dispute related to the seats that the supplier promised, according to the Wall Street Journal.

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