🏈 The Bitcoin Bowl

…Uber uses cross-promotion to gain “Super App” status [Disclosures](   A touchdown for crypto? [Dmytro Aksonov/E+ via Getty Images]   Yesterday’s Market Moves   Dow Jones 35,242 (-1.47%) S&P 500 4,504 (-1.81%) Nasdaq 14,186 (-2.10%) Bitcoin $43,984 (-0.80%) Dow Jones 35,242 (-1.47%) S&P 500 4,504 (-1.81%) Nasdaq 14,186 (-2.10%) Bitcoin $43,984 (-0.80%) Hey Snackers, Just in time for Valentine’s Day, [Build-A-Bear]( [launched]( an “after dark” series of stuffed toys for adults only (the site even asks if you’re 18 or older). But the [fuzzy little guys]( are far from scandalous. Stocks dropped sharply yesterday on [news]( that inflation reached a four-decade high (your wallet already knew it). Last month inflation accelerated, which could push the Fed to hike interest rates sooner to fight soaring prices. ICYMI: the Super Bowl is Sunday. About that… GameDay Crypto companies hope to win mainstream trust in their Super Bowl debut — so do sports-betting apps NFTs in the NFL… The LA Rams or the Cincinnati Bengals will become Super Bowl LVI champs when the final whistle blows this Sunday, but Matt Damon’s infamous Crypto.com [commercial]( could steal the show. This Bowl [could be]( known as the “Crypto Bowl” because it’ll be the first to feature crypto ads. Last year, the NFL allowed sports-betting ads during its programming for the first time. The deets: - Crypto exchanges [Coinbase]( FTX, and Crypto.com are expected to [run]( Bowl ads, some of which have sold for a record $7M per 30-second slot. Meanwhile, [Budweiser’s]( commercial [features]( NFTs, the metaverse, and Barbra Streisand. - [DraftKings]( is back for a second year, along with rookies [Caesars]( and FanDuel. A record 31.5M Americans are estimated to bet nearly $8B on this year’s big game. Super brownie points… The Bowl is the most-watched event in US sports, so it gives fast-growing companies a supersize opportunity to reach new users. Crypto and betting businesses have already been courting sports fans by teaming up with star athletes and sponsoring stadiums: - Crypto.com paid a reported $700M to sponsor LA’s Crypto.com Arena (FYI: the Super Bowl is in LA’s other crypto arena, [SoFi]( Stadium). Crypto exchange FTX sponsors Miami’s FTX Arena and partners with Tom Brady. - DraftKings and FanDuel have linked up with the NBA, the NHL, and the MLB on official sports-betting partnerships and streaming rights. THE TAKEAWAY The Super Bowl represents mainstream consumer America… Bowl ads give fledgling brands a chance to win over consumers by putting their products next to trusted brands like Budweiser, [Coca-Cola]( and [Amazon](. It doesn't always work: Many dot-com companies that advertised in the 2000 “[Startup Bowl]( failed. But the Super spotlight could help crypto and betting companies enter the consumer mainstreams. Plus: FTX’s CEO told WaPo that his ads aren’t just meant to win over customers — they’re also meant to [court regulators]( by promoting a “healthy image.” Takeout Uber’s delivery service is still thriving despite reopenings — and shopping and flight bookings could be next Uber Pool is coming back… Bring an XL mask. Last quarter, [Uber]( had more active users than ever (118M), as you ride-hailed to Taco Tuesday and ordered Taco Bell direct-to-couch. Uber's revenue jumped 83%, and it notches its second profitable quarter since IPO’ing 2019. Delivery made up over half of bookings, with rides close behind. - Eats: It’s hard to get a Saturday reservation again, as Americans return to eateries. That didn’t hurt Uber Eats’ revenue, which [jumped]( 77% to $2.4B. Eats also posted its first quarterly profit and is now the US’s fastest-growing food deliverer. - Rides: Uber’s completed nearly 1.8B rides last quarter, up 8% from the previous quarter and 23% from 2020, but still slightly down from pre-pandemic. Meanwhile, [Lyft’s]( active riders fell [last]( quarter. Super Uber… Uber has long hyped plans to become “the operating system for daily life.” “Super Apps” (think: Uber, [DoorDash]( Venmo, Amazon... all in one) are popular in Asia, but haven’t quite taken off in the US. Still, 11% of Americans surveyed want one app to [manage]( their entire digital lives. On Thursday, Uber unveiled super-app-y ambitions: - The past: In 2011, Uber had two offerings: Uber and Uber Black. Today, Uber offers more than 15 ways to get around, including scooters, shuttles, rental cars, and motorbikes. Plus, it delivers food, alcohol, groceries, and even pharmacy products. - The future: Uber wants to let you book flights, shop for clothes, manage your finances, and buy concert tickets all in its app. Uber says the initiatives could help gross bookings reach $170B by 2024. But the stock slid anyway. THE TAKEAWAY Cross-promotion may be the best promotion… Uber gains delivery customers by promoting Eats to ride-only customers, and vice versa. It’s working: users who order food and rides through Uber’s main app spend 3X more than those who use the apps separately. And Uber will likely leverage cross-promotion to boost any future verticals, like shopping and flights. What else we're Snackin' - [#Growth]( [Twitter]( shares fell on news that profit dipped as ad-sales growth slowed last quarter. Unlike [Meta]( Twitter said [Apple’s]( privacy changes weren’t so bad and that advertiser spend is starting to pick up. - [Fizz]( [Coke’s]( and [Pepsi’s]( sales spiked last quarter as demand for “drinks away from home” (think: movie theaters, sports arenas) finally topped pre-pandemic levels. But inflation could sour profits this year. - [Cruise]( President Biden rolled out plans to give states $5B to build EV chargers. He’s pledged to make EVs more affordable and have half of all new vehicles sold in the US be electric or hybrid by 2030. - [Flip]( [Zillow]( posted a $261M loss on record revenue in its latest earnings after its house-flipping biz [flopped]( last year. While Zillow sold most of the leftover homes, it still lost an average of over $25K on each sale. - [Dine]( European delivery biz Delivery Hero lost a third of its market value after warning that its pandemic-era sales boost will cool this year. Meanwhile, Grubhub parent [Just Eat]( announced plans to delist [from]( the Nasdaq. 🍪 Thanks for Snacking with us! Want to share the Snacks? Invite your friends to sign up [here](. The Snacks Daily Podcast Wingstop is going ghost this Super Bowl — and we’re not talking peppers. [Tune in]( to hear why the wing maker is ditching its dine-in biz to become the “restaurant of the future.” Snack Fact Of the Day [Former University of Michigan economist Susan Collins will become the first Black woman to lead a branch of the Fed]( Friday - Earnings expected from: Warby Parker, Under Armour, Enbridge, and Dominion Energy Authors of this Snacks own: Bitcoin, and shares of Uber, Twitter, Apple, and Amazon ID: 2035173 Robinhood Snacks newsletters and podcasts reflect the opinions of only the authors who are associated persons of Robinhood Financial LLC (Member [SIPC]( and do not reflect the views of Robinhood Markets, Inc. or any of its subsidiaries or affiliates. They are for informational purposes only, and are not a recommendation of an investment strategy or to buy or sell any security, digital asset (cryptocurrency, etc) in any account. They are also not research reports and are not intended to serve as the basis for any investment decision. Any third-party information provided therein does not reflect the views of Robinhood Markets, Inc., Robinhood Financial LLC, or any of their subsidiaries or affiliates. All investments involve risk including the loss of principal and past performance does not guarantee future results. [Robinhood Terms and Conditions]( • [Disclosure Library]( • [Our Editorial Principles]( • [Contact Us]( • [FAQ]( [Manage Your Subscription Preferences](