GiGadgets | GiGadgets | NOW IN TECH: Spotify to launch its IPO in April

NOW IN TECH: Spotify to launch its IPO in April
Ke Feng
By Ke Feng
Mar 17, 2018

1. Music streaming service Spotify to launch its IPO in April

Music streaming service Spotify is planing to launch its IPO in the upcoming April. Spotify, Apple’s biggest competitor in streaming music market, is a Sweden-based startup with 42% market share , 71 million paying members, and  159 million listeners who use the service at least once a month, according to the company’s release. Spotify is considered revolutionary to the music business by inventing a new form of playing music. According to Spotify CEO Daniel EK, more consumers today prefer to the all-you-can-access payment plan. 

2. US largest internet radio broadcasting company filed for bankruptcy 

US largest internet radio broadcasting company iHeartMedia filed for bankruptcy protection this Thursday. iHeartMedia suffered from massive debit since 2008 and failed to pay back its investors. The rise of internet age turned more people to get information through internet instead of broadcast radios or televisions. The fail of iHeartMedia followed Cumulus, the operator of 445 stations, also filed for bankruptcy. 

3. Women grouped together to sue Uber for alleged sexual assault 

Two women accused Uber for doing not enough to protect women from potential sexual assault and rape in November last year. The ride-hailing company now ranked by PitchBook as the No.1 unicorn in valuation. Seven more women have joined the lawsuit lately and filed multiple complaint regarding the Uber services. 

4. Walmart is fighting against Amazon in India 

Walmart is now in negotiation with Flipkart, India’s largest e-commerce giant, according to CNBC report. The move is perceived by many analysts as a battle against Amazon. The US retail giant plans to purchase 20 to 26 percent share, uplifting its shareholding to 51%. Earlier this year, Walmart announced its online delivery system in an effort to complete with Amazon’s similar new project. 

5. Bill Gates just had a serious talk with Trump on foreign aid

Source of WhiteHouse told CNN that Trump and billionaire Bill Gates just had a talk this afternoon without exposing it to the press. The talk is regarding Trump’s earlier proposal on cutting foreign aid. As one of the most influential philanthropist, Gates and his wife Miranda kept addresses the importance of America’s devotion in fighting against poverty and diseases. Gates said to Trump that their efforts will help to create US jobs and make Americans more secure. 

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