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:
- TikTok Pays Creators as Rivals Dig In
- Amazon Wants to Use Sears and J.C. Penny Stores as Fulfillment Centers: WSJ
TikTok Doles Out Money to Creators, Batting Away Rivals
Tiktok announced today the first receipts of a $200 million creator fund including several Los Angeles-based app stars. It comes as the social app faces increased competition from those trying to lure away talent and the threat of an outright ban.
The company has promised to up their funds for rising U.S. creators to $1 billion over the coming three years.
Among the 19 selected so far is Los Angeles-based Alex Stemplewski, a photographer who shares the impromptu photo shoots he has with strangers in public with his 9.6M followers.
There's also Justice Alexander, one of the top Latino creators on the app, who captures quick video of the many pranks he plays on his girlfriend and daughter with his 5.4M followers.
Well-known TikTok-er David Dobrik recently gave away a Tesla to one of his more than 20M followers as part of a sweepstakes for the most heartfelt story.
The Creator Fund will open their applications in the middle of the month for anyone 18 years or older looking to expand their work on Tiktok. To be considered, creators must have 10,000 followers or at least 10,000 video views in the last 30 days and follow community guidelines.
President Trump recently signed an executive order that will ban the Chinese-owned company by September 20th unless it's sold to an American company before that date. TikTok has responded by threatening legal action.Amazon Wants to Use Sears and J.C. Penny Stores as Fulfillment Centers: WSJ
live.staticflickr.com
Amazon is in talks with mall operator giant Simon Property Group to convert Sears and J.C. Penney department stores into package distribution centers, according to a report from The Wall Street Journal.
The discussions come as Amazon continues to grow its e-commerce empire which has helped contribute to the downfall of brick-and-mortar retailers including Sears and J.C. Penney, which both filed for Chapter 11 bankruptcy protection. That trend accelerated with the pandemic as malls closed and millions of consumers rely on Amazon for online shopping.
Shares of Simon Property Group, which has 21 malls in California including the Del Amo Fashion Center, Brea Mall and Ontario Mills, jumped on the news. The company is set to report earnings after Monday's market close.
Adding more warehouses would help Amazon speed up deliveries as the company plans to offer its Prime members 1-day delivery of their orders. Amazon posted $5.2 billion in profits in the second quarter, doubling its bottom line from the same quarter a year ago, despite spending more than $4 billion on COVID-19 initiatives.
- Amazon faces unprecedented challenges as dozens of warehouses ... ›
- TikTok Signs Music Distribution Deal with UnitedMasters - dot.LA ›
- TikTok Signs Music Distribution Deal with UnitedMasters - dot.LA ›
- Who's Paying What for Creator Content - dot.LA ›
