Spotify Promotes Potential Growth as It Prepares to Go Public

As Spotify Technology SA prepares to go public, co-founder and chief executive officer Daniel Ek has some convincing to do. Not necessarily about the company’s numbers, which are impressive (70 million paying subscribers, for starters), but about the potential for growth and revenue. On the one hand, with Spotify’s help, the music business has seen three years of global growth after 15 years of decline — but on the other hand, Spotify isn’t making money, having to contend with music-rights holders collecting over 75 cents per dollar.

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Spotify Adds Content to Compete With Radio, YouTube, Apple

Popular streaming music service Spotify plans to take on radio and podcasts from Apple and others by introducing news and political coverage to its content offerings. Spotify’s new Spotlight feature will include programming from partners such as BuzzFeed and Refinery29. BuzzFeed, for example, will provide daily newscasts that run four to seven minutes in duration. Spotify’s 70 million users already have access to music and new video and podcast offerings; Spotlight will add news, politics, pop culture and sports coverage. The strategy could position Spotify as a competitor to YouTube and Apple. Continue reading Spotify Adds Content to Compete With Radio, YouTube, Apple

Nasdaq Launches an Entrepreneurial Center to Foster Startups

Nasdaq OMX, which owns the NASDAQ stock market, is trying to bolster its tech offerings by nurturing startups through its new Entrepreneurial Center. This 13,000-square-foot space in San Francisco is designed to help young companies grow and find a community. In the future, Nasdaq may be able to profit from some of these startups when they go public. Currently, Nasdaq faces stiff competition from the New York Stock Exchange in attracting tech companies to the stock market. Continue reading Nasdaq Launches an Entrepreneurial Center to Foster Startups

Alibaba Sets World IPO Record After its First Day of Trading

While Apple had a big weekend selling more than 10 million new iPhones, it wasn’t the only tech giant breaking records. Chinese e-commerce company Alibaba Group Holding Ltd. closed its first day of trading on Friday at $93.89 per share, a 38 percent increase from its IPO price, and the biggest first-day jump for an IPO of at least $10 billion. The IPO became the largest ever at $25 billion, after underwriters exercised a greenshoe option to increase the deal size by 15 percent based on strong demand. Continue reading Alibaba Sets World IPO Record After its First Day of Trading

Alibaba Raises $21.8 Billion in IPO: Ready to Take On Google

The Alibaba Group, China’s leading e-commerce operator, raised nearly $21.8 billion in its initial stock sale yesterday. While not the biggest initial public offering to-date, Alibaba did have one of the strongest stock sales on record, surpassing those for Facebook and General Motors. When it begins trading today on the New York Stock Exchange, it is poised to become one of the world’s most impressive Internet powerhouses, a compelling blend of Amazon, eBay, Google and other tech giants. Continue reading Alibaba Raises $21.8 Billion in IPO: Ready to Take On Google

Twitter Numbers Skyrocket on New York Stock Exchange Debut

It seems that Wall Street loves Twitter. The company set an initial public offering price of $26 late Wednesday, only to see the stock close its first trading day up 73 percent at $44.90 a share, with a session high of over $50. The rocketing IPO set co-founder Evan Williams’ stock value at $2.9 billion and co-founder Jack Dorsey’s at $1.2 billion. CEO Dick Costolo’s stock is now worth $384 million. At about $45 per share, the company is valued at $24.4 billion. Continue reading Twitter Numbers Skyrocket on New York Stock Exchange Debut

Media Companies Compete for Ad Dollars at NewFronts

An array of companies that produce digital online content are offering presentations, parties, goody bags and more this week in New York City as part of their efforts to draw advertising dollars from marketers and agencies. Similar to how the TV upfront season works, media companies presenting at the Digital Content NewFronts are pulling out all the stops to showcase new series and programming ventures for Madison Avenue. Continue reading Media Companies Compete for Ad Dollars at NewFronts