Just two months ago Amazon acquired connected camera and doorbell startup Blink, a tech company founded in 2014 that builds integrated Wi-Fi home security cameras. In e-commerce news this week, Amazon has acquired doorbell and security camera producer Ringfor $1 billion, according to Reuters, just as competitor Nest plans the release of their first smart video doorbell. Announced for the first time at Google Cloud Next 2017, Chat began in an invite-only preview beta of their heavily G-suite integrated and AI-focused communications tool. Hoping to capture part of the increasingly-concentrated communications app space, Hangouts Chat is now available for public use and offers integration with tools like Salesforce and UberConference, even leaving room for developers to add their own desired functionality. Finally, Hangouts Chat, Google’s intra-office communication tool, came out of beta this week. Both ad-supported and paying monthly active users for the streaming company have grown consistently over the last three years, with paying subscribers having grown at a faster rate.Įlsewhere in the SaaS world, Salesforce CEO Mark Benioff recently shared that their goal of reaching $20 billion in revenue by 2022 just became “much more realistic.” Citing an excellent fourth quarter and the 28% growth of Salesforce’s deferred revenue on the balance sheet, Benioff said that it was “the company’s best quarter in a long time.” Indeed, Salesforce signed a record number of million-dollar contracts, bolstered by deals with global brands like Adidas and Deutsche Bank, which contributed significantly to the increase in revenue. Documents filed for the IPO show that 2017 revenue came close to $5 billion, up more than 38% from the year before, while reported losses of $1.46 billion nearly doubled compared to $657 million the previous year. Currently trading between $90 and $132.50 per share off-market, the company is valued at $23.4 billion in the top range, but is not certain this valuation will necessarily pertain to public listing. Targeting a c.$1 billion IPO, the Swedish music-streaming platform does not plan on fundraising ahead of the exit, but instead will undergo a direct listing wherein existing shareholders will sell shares to investors on the public market. Even more staggering, they’ve also managed to count 60 million paid accounts amongst their subscriber base, dwarfing any and all competitors in the streaming arena.Spotify has this week officially announced its plans to go public. Earlier this week, it was revealed that the company had been hit with a $1.6 billion lawsuit by Wixen, the publishing company who handles the catalogs for big name artists like Tom Petty, Neil Young, Weezer’s Rivers Cuomo, The Black Keys’ Dan Auerbach, and Rage Against The Machine, over unpaid royalties.Īs late as the fall of 2017, Spotify reportedly had accumulated 140 million regular users. The IPO comes at a precarious moment in Spotify’s history. This falls in line with a similar report offered by Reuters in December that pegged the company’s value at around $19 billion. A recent CNBC report speculated that the public offering could value the company up to $20 billion. The move could signal a huge financial windfall for Spotify’s private ownership group. In other words, the streaming giant is set to go public on the New York Stock Exchange, and plans to make its shares public in the first quarter of 2018. Spotify plans to go public series#According to multiple reports from Axios and Bloomberg, Spotify filed a series of confidential IPO documents with the Securities and Exchange Commission at the end of last year.
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