Snap eyes up revenue growth with launch of new edition of Snapchat Spectacles April 26, 2018 Snap will be hoping for a change in fortunes with the launch of its new version of wearable Snapchat Spectacles. The specs look like regular sunglasses, but carry a camera that allows the user to take 10-second clips that can be sent to a user’s Snapchat app. The company’s first edition of the glasses led [...]
Hot stuff: How to trade on good weather without getting burnt April 24, 2018 Using data on 13.82m cab rides from January to October 2009 in New York City, combined with statistics on hourly levels of solar radiation, a recent study entitled “Taxicab tipping and sunlight” found a significant positive relationship between sunlight and tipping. The study, by Srikant Devaraj and Pankaj Patel from the Miller College of Business [...]
Shutterstock CEO Jon Oringer on putting profit first and selling his billionth image | City A.M. April 9, 2018 Many moons ago, there was a game called GoogleWhack. The objective was to return only one hit from a Google search query consisting of just two words. Naturally, with billions of pages indexed, it’s quite tough, and today, probably impossible. I propose a new, but similar, game using Shutterstock. Type in any two words, and [...]
New York Stock Exchange owner Intercontinental Exchange buys Chicago Stock Exchange April 5, 2018 The owner of the New York Stock Exchange has agreed to acquire the Chicago Stock Exchange. Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, has agreed to buy the Chicago Stock Exchange (CHX) for a reported $70m (£50m), although the two sides did not disclose terms. The deal comes after a [...]
Spotify begins trading on the New York Stock Exchange amid Wall Street tech rout April 3, 2018 Music streaming service Spotify began trading on the New York Stock Exchange (NYSE) today at $165.90 (£117), a 34 per cent increase on the initial set reference price. The opening price puts the company’s value at nearly $30bn, making it one of the largest US listings for a tech company in history. The public listing [...]
Spotify float still set to top Snap and Twitter amid tech sell-off March 28, 2018 Spotify is expected to be worth $26bn (£17bn) at the end of its first day of trade next week, more than social media platforms Snap and Twitter, according to IG client accounts. IG’s grey market, which allows traders to speculate on the music streaming giant’s market capitalisation at the end of its first day of [...]
Spotify sets cautious revenue expectations as it prepares to go public March 26, 2018 Spotify’s revenue is projected to grow at a slower tempo this year, as the music streaming site readies for its public listing next week. The technology company said yesterday that it expects revenue to grow between 20 and 30 per cent to as much as €5.3bn (£4.6bn) in 2018, a rate slower than the 39 [...]
How and why rising trade tensions have moved stock markets March 23, 2018 We explain all of the ins and outs of the turmoil in markets this week, focusing on at what might happen next with escalating trade tensions. How far have stock markets fallen this week? Global stock markets have come under pressure this week on fears over escalating trade tensions. The selling has been most marked [...]
Britain’s fintech firms are expecting growth to rocket over the next three years March 21, 2018 UK fintech firms expect higher than average growth over the next few years as London remains a top destination for business. UK-based financial technology firms expect 88 per cent growth over the next three years, topping the average country's expectations, according to a global fintech survey by theLondon Stock Exchange Group and TheCityUK. Only Germany [...]
Full stream ahead: With Spotify opting for an unusual IPO route, should investors be wary? March 20, 2018 Spotify, the streaming giant that prides itself on helping people discover music, is about to go public. The company plans to list on the New York Stock Exchange on 2 April, but it’s doing things differently – opting for a direct listing instead. This means that, instead of issuing shares, the private investors and [...]