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Uber lost over $1 billion in Q3 as it closes in on an IPO
Uber, according to its self-reported financials, said it lost (on a GAAP basis) $1.07 billion as it continues to invest in new areas, such as bicycles, scooters and freight shipments. The company is still growing however, as revenue rose 38 percent from a year ago to $2.95 billion. Albeit, those gains are down 51 percent from the previous quarter, meaning that overall the speed of growth is slightly down. Uber earned $12.7 billion from gross bookings, or the money it makes after paying commissions to drivers and delivery people, which is up 34 percent from the previous year.
Tencent is bringing its music division to the US
Tencent's push onto American entertainment is going beyond gaming and movies. Now the Chinese conglomerate will bring its Tencent Music Entertainment division to domestic shores, as spotted by TechCrunch. Over the weekend, the company announced (PDF) that it will put its music division on a "recognized stock exchange in the United States." Last year, it was rumored that Tencent tried buying Spotify, but those talks fell through.
Dropbox's IPO filing reveals 500M users but a $1 billion deficit
In a move reminiscent of Snap's IPO journey, Bloomberg sources claimed last month that Dropbox had quietly filed to become a public company. Suspicious hires last year had tipped their hand, and we waited to see what would happen for a company valued over $10 billion a few years ago. Today, Dropbox's IPO filing surfaced, and while we still don't know what day its stock will hit the market, their documentation pulls back a bit of the veil on the company's situation as it gears up to go public.
Spotify's plan to go public might not include an IPO
Now that Spotify is locking down long-term deals with record labels, the company's next big task is going public. Before you run to the hills at the sound of financial speak, this influx of cash could help the company you know and love keep delivering the tunes you listen to on a daily basis. Rather than a typical initial public offering (IPO), Wall Street Journal says that the Swedish company may instead use a direct listing.
Snap Inc. officially files for IPO
Snapchat's parent company Snap Inc. has officially filed for its initial public offering Thursday, giving a rare insight into what makes the ephemeral messaging service tick. Although Snap did not lay out the terms of the filing, the Wall Street Journal places the company's value between $20 billion and $25 billion. That would make Snap the biggest IPO since Alibaba hit the market in 2014 and well in excess of the $3 billion it reportedly turned down from Facebook in 2013.
Etsy's massive IPO puts big money behind small sellers
Selling handmade stuff on the internet is big business, and Etsy's IPO shows just that. The online marketplace completed its initial public offering today, raising over $270 million towards a total valuation of more than $3.5 billion -- not too shabby for a company that's not yet profitable. If you're not familiar, Etsy offers folks who deal in "handmade goods, vintage items and craft supplies" a place to sell their goods online. Sure, the site takes a cut, and it generates revenue from ads, shipping and payment processing. What's more, it has attracted 1.4 million active sellers and 19.8 million active buyers (as of December) in its 10 years handling those sales. The company was clear about its history of losses when it first announced plans to go public, admitting that it may never turn a profit. However, as the popularity of handmade and unique wares continues to grow, eager sellers are likely to opt for the site's community as a means for promotion as much as its e-commerce tools. It's also poised to make a big splash in mobile, recently hiring one of Pandora's top executives to lead that charge. [Image credit: Spencer Platt/Getty Images]
GoPro files for IPO to become publicly traded company
It's safe to say GoPro's camera business is quite successful -- and there are plenty of things which prove this to be the case. Still, GoPro doesn't want to stop there, so much so that it has now started the process to take its (adventurous) efforts to the next level. The company, which is based out of San Mateo, California, recently announced it has formally filed for IPO, indicating that it will be maturing into a public company pretty soon. We can expect more details once the SEC finishes reviewing all the confidential paperwork -- for now, the official statement from GoPro is right after the break.
Facebook CEO Mark Zuckerberg says mobile apps the top focus, we say it's about time
Facebook has been making a lot of promises during a tour to drum up interest in its ever-nearing IPO, but the one gadget-heads have been wanting to hear the most, a commitment to its mobile apps, has been elusive -- until now. Everyone's favorite hooded CEO, Mark Zuckerberg, is telling investors in his home 'burg of the San Francisco Bay that mobile is front and center in his company's plans. We're hoping that means new app features, although Zuck is likely referring to money-making as well: shareholders are jittery knowing that Facebook makes most of its money on web ads that it's not running on smartphones and tablets. Paid titles in App Center will go a long way towards scratching that itch, mind you. As for us, we'll just be happy if Facebook takes less than a year and a half to produce a major tablet app.
Facebook updates S-1, adds Q1 earnings, revenue up 45% over last year
Facebook just filed an amended S-1 (that all important document that officially announces its public offering plans) with some new financial info. Now included in the charts and graphs is everything you wanted to know about Q1 of 2012 at Facebook (but were afraid to ask). The new SEC filing reveals that revenues are way up at the social network over last year (a whopping 45 percent higher than Q1 of 2011), but down slightly from last quarter (six percent), settling at a more than respectable $1.058 billion. Of the cash it took in, $872 million of it was ad revenue, which is down from Q4 of 2011 ($943 million) but up significantly from Q1 of last year ($731 million). Facebook was even able to slap a per-user amount on its 900 million active monthly members -- $1.21 -- that's the average revenue for each person with an account at the site. Of course, membership has continued to grow, with 532 million stopping by daily, up from 372 million just a year ago. As for that Instagram purchase, it looks like the widely reported $1 billion figure wasn't entirely accurate -- at least not when talking cold, hard cash. Only $300 million was turned over in immediately spendable currency, the rest of the deal involved 23 million shares of common stock. If you're a sucker for financials hit up the source link.
Facebook files $5 billion IPO, values the company at nearly $100 billion
The rumor, speculation and awkward Winklevii jokes can end (at least for now) as Facebook has officially filed for its public offering. Underwritten by Morgan Stanley and Goldman Sachs amongst others, the internet's most popular site seeks to trade under the stock symbol "FB" when it goes public later this year. The company is seeking to raise $5 billion, according to this early filing, amounting to a lofty (and still tentative) valuation north of $50 billion. If that turns out to be accurate, though, Zuck will be one (especially) rich man: with a nearly thirty percent share in the company, his net worth would balloon to almost $30 billion. The process of going public also provides a rare glimpse into internal stats previously kept private, with documents revealing the service has 845 million active users each month -- nearly half of which log in and actuate 2.7 billion likes and comments each day. The filing also sheds light on the company's balance sheet, with revenues of $777 million, $1.97 billion and $3.71 billion in 2009, 2010 and 2011, respectively. All told, it logged profits of $229 million and $606 million in those years -- earnings that were bested by the $1 billion it netted in 2011. The majority of its revenue comes from advertising, yet a sizable chunk (12 percent) of last year's figure comes courtesy of Zynga. All in all, that's enabled the company to stash away nearly $4 billion in cash -- a sizable nest egg for a company only eight years old. As for Zuck, his 2011 salary of $500,000 will be cut to $1 as of January 2013, but he'll be more than comfortable, thanks to that 28.4 percent stake in the company.
Fusion-io IPO filing discloses list of prestigious clients, led by Facebook
Before last week, we'd gone well over a year without discussing solid state storage purveyors Fusion-io -- and their extremely expensive and expeditious flash drives -- but things seem to have been ticking along just fine behind the scenes. While the company's unlikely to have sold many ioDrives to good old Joe Consumer, its upcoming IPO application features an impressive list of corporate clients, highlighted by Facebook, its biggest customer, IBM, HP, and Credit Suisse -- the latter using Fusion-io technology to speed up the mathematical alchemy of making money where there was none before. Taken together with strategic investments from Samsung and Dell, these deals paint a rosy outlook for the Woz-employing startup, however it's worth noting that profitability is still a decent way away. Fusion-io's rapid growth is costing it more than it's making at the moment, which is most likely to have catalyzed its current decision to go public and collect its biggest round of investments yet. Let's hope the investor prospectus includes a forecast for when things like the ioXtreme might actually become affordable to non-millionaires, eh?
Tesla Motors IPO coming 'any day' now, says report
Word on the street -- and by that we mean Reuters -- is that Tesla's looking to go public with the company "any day." The luxury electric car make, whose Roadster still goes for a cool $109,000, would be the first US auto company to offer an IPO since Ford way back in 1956, says MSNBC. Quite a notable event, indeed, but earlier comments by Tesla investors (via Autoblog Green) suggest "any day now" might be any time between now and September 2010.
