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What Snap's IPO tells us about Spectacles' future
When Snap Inc. officially filed its IPO last week, we finally got our clearest look yet at its operations. In addition to learning that its co-founders will be donating as many as 13,000,000 shares of their stock to a philanthropic organization the company quietly set up, we also found out just how much Snap paid for its acquisitions of Bitstrips and Vurb.
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.
Spotify isn't acquiring SoundCloud after all
Just a couple of months ago, rumors indicated Spotify was negotiating to acquire fellow music streamer SoundCloud. Now, TechCrunch reports hearing from a source that those talks have ended and Spotify is walking away. According to the Financial Times, Spotify has considered this deal twice before and ended negotiations because it couldn't agree on a price.
Report: Snapchat secretly, officially filed for its IPO
It's no secret that Snap Inc. (aka Snapchat) has been thinking about selling stock to the public, but it looks like it has officially -- and quietly -- pulled the trigger. According to a report from Reuters the messaging company confidentially filed for an initial public offering just before the US presidential election, a move that would keep its crucial financials away from its competitors' prying eyes for at least a little longer. That initial sale of stock could take place as early as next March, and if all goes well (according to Bloomberg, anyway) the company could raise up to $4 billion.
Apple can never release an 'iWatch' in the UK
Long before Apple actually launched its first wearable, a trademarking spree sent the rumour mill into overdrive. Understandably so, because what else could an "iWatch" be? The Swiss clocksmiths at Swatch weren't best pleased with this application, however, challenging the filing with the UK's Intellectual Property Office (IPO) in 2014. The IPO recently brought an end to the dispute, siding with Swatch in its opposition of the trademark. It doesn't really matter now, of course, with the Apple Watch already in its second generation. But, if the company ever wanted to launch an iWatch? Well, it can't.
Snapchat considers offering public stock
Snapchat is growing fast, which means that it will need more money... and it may be taking the steps it needs to bring in that extra cash. The Information's sources claim that Snapchat is talking to investment banks about the possibility of an initial public stock offering either in late 2016 or early 2017. It's not certain what share price Snapchat would set, but it reportedly wouldn't value its overall worth at significantly more than the $16 billion it does now.
Spotify bets on debt to fund expansion
Spotify has raised $1 billion in a deal onlookers have called "strict" and "devilish." Rather than another equity-based funding round, the money was raised through convertible bonds (i.e. debt), with some restrictive terms mostly tied to Spotify going public with an IPO. Investors will be able to convert their bonds to shares at a 20-percent discount within the next year. After that, if the IPO still hasn't happened, that percentage will increase by 2.5 percent every six months. Additionally, as it's debt, there's interest to pay -- 5 percent yearly, which similarly will increase every six months after a year, this time by one percent.
Facebook must deal with class-action lawsuits over its IPO
If Facebook thinks the legal troubles with its initial public stock offering are over, it has another thing coming. A federal judge has ruled that the social network must face two class-action lawsuits accusing it of masking doubts about its growth before the IPO kicked off in 2012. Both of them claim that Facebook pulled a fast one, tricking investors into buying stock at high prices that ultimately lost them money.
Tinder's parent company files for IPO
Match Group, the owner of Tinder and OkCupid, is going public. According to the filing, the company hopes to raise $100 million dollars. The mega-dating company states in its paperwork filed with the Security and Exchanges Commission that its advantage over its competition includes strong brand recognition (It's tough to think of a dating brand larger than Tinder right now) and the ability to scale. It currently has 59 million monthly active users and of those 4.7 million are paid. Most of its intended growth will probably be international. The increased funds from the offering will help it focus on product development, becoming more mobile, improve customer acquisitions and expand its portfolios with new products and buying up competitors. The company will be listed on the NASDAQ as MTCH. Of course all these numbers and talk of growth come down to love. Or at least the short-term "love" of hooking up. The Match Group's stated mission is "to increase romantic connectivity worldwide."
Square bets big on payments as it becomes a public company
It's a big week for Jack Dorsey in more ways than one. The new Twitter CEO's other company, the payment service Square, has filed for an initial public stock offering that's tentatively worth up to $275 million. It's not certain just when shares will be available. However, the move shows a belief that Square's hopes of reinventing the purchasing process (through everything from readers to food delivery) have legs. As it stands, investments might be necessary in the short term. While Square's bottom line is improving, it continues to lose money -- $77.6 million just in the first half of this year. Going public gives the firm more breathing room, and may sharpen its focus. After all, it's about to have the expectations of many, many people riding on its shoulders.
Deezer needs more cash to fight Apple and Spotify
According to various sources, music streaming service Deezer is preparing to float itself on the Paris stock market in the hope of raising some much-needed cash. The company has found itself struggling in comparison with richer rivals like Apple or Spotify, while Tidal can count on Jay-Z's cash and industry connections. As such, the firm is going to try and sell off chunks of its business, currently valued at $1 billion, in order to build a bigger war chest to take on its three nearest rivals.
Vizio IPO plan shows how its TVs track what you're watching
While the past few years have been tough for many TV makers (Panasonic, Pioneer, Toshiba, Sony, just to name a few), Vizio has continued to grow its business, and now it's ready to go public. Vizio has made its name with impressive value-priced TVs that don't skimp on features (it's also a leader in the soundbar market, and has made attempts at selling tablets and phones too). According to the filing, Vizio has sold more than 15 million smart TVs, with about 61 percent of them connected as of the end of June. While viewers are benefiting from those connections, streaming over 3 billion hours of content, Vizio says it's watching them too, with Inscape software embedded in the screens that can track anything you're playing on it -- even if it's from cable TV, videogame systems and streaming devices.
Almost a fifth of online Brits are enjoying content illegally
The UK government is increasing its efforts to clamp down on online piracy, and now we know the reason why: illegal downloads and streaming are on the rise. Research commissioned by the Intellectual Property Office (IPO) shows that the number of people accessing content illegally has risen from 17 to 18 percent since 2013. (That equates to roughly 7.8 million Brits pirating at least one item over a three-month period.) Nine percent of internet users aged 12 and above admitted to downloading or streaming music illegally at least once between March and May 2015. Six percent confessed to pirating a movie and seven percent revealed they had watched TV shows illegally. These figures are mostly consistent with the last batch of research conducted by Kantar Media two years ago -- only TV programming has shown change, rising by one percentage point.
Fitbit's IPO is more evidence wearables have grown up
Wearable company Fitbit began trading on the New York Stock Exchange this morning, ending the device maker's quest to go public. According to Forbes, the IPO raised $732 million for the company that's trading with a market cap of $6 billion. What do those numbers mean exactly? Well, wearables, despite being niche devices that studies show are easily replaced by phones, are a big business capable of raking in billions. To put it simply, wearables have grown up.
Ashley Madison IPO proves Adultery is big business
It may sound like a high-end department store, but Ashley Madison is actually a hookup network for people who want some extra-marital, no-strings attached sex. As much as we pretend that the site caters to a small niche, the truth is that its parent company is struggling to keep up with the demand. That's why it's reportedly preparing to go public in the hope of raising $200 million to fund international expansion.
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]
Etsy wants to raise up to $300 million by going public
Etsy, yes that marketplace for handcrafted and bespoke goods, plans to raise money not by selling custom crocheted rabbit hats or bohemian jewelry, but by doing an initial public offering. The Brooklyn company has just filed an S-1 form at the US Securities and Exchange Commission, where it revealed some numbers that give us a glimpse into how the company's doing. It apparently has 1.4 million active sellers, 19.8 million active buyers and 685 employees, 51 percent of whom are women. Plus it generated $195.6 million in revenue but incurred a net loss of $15.2 million in 2014. According to Bloomberg, Etsy is hoping to raise $300 million from the IPO, or $100 million at the very least, if you look at the S-1 filing.
Roku wants to grow its media hub empire with a public stock filing
Roku frequently comes across as the little media player company that could: its streaming box business is growing in spite of much larger competition. As healthy as it is, though, this upstart now appears eager to join the big leagues. Tipsters for both the Wall Street Journal and New York Times claim that Roku is planning to file an initial public stock offering (IPO) that could net as much as $150 million, roughly doubling what it raised through private investments. The details of just how and when this would happen are still murky, but the company said earlier this month that it's near turning a profit. It may wait until it's in the black and can put its best foot forward. If the IPO does happen, though, you should expect Roku to grow quickly. It's already striking deals with TV makers and has the support of major broadcasters -- the extra cash could both put more big-name services on your existing Roku box and improve the range of devices you can buy at the store.
Alibaba IPO makes it worth $231 billion, more than Amazon and eBay combined
We'd heard that the US IPO for Chinese company Alibaba could be among the biggest ever, and it did not disappoint. Closing at a stock price of $93.89, it raised $21.8 billion for the company and is the biggest IPO in US history. According to Bloomberg, it could become the biggest ever (topping Agricultural Bank of China's $22 billion IPO in 2010) if underwriters make use of an option to buy more shares, which market observers expect they will. Now that Alibaba has joined the club of recent tech IPOs like Facebook and Twitter and it has cash to throw around, many wonder if it will start acquiring smaller companies the way its Silicon Valley rivals have lately. Despite being mostly unknown in the US Alibaba is massive in China, operating sales platforms described as similar to Amazon, eBay and Paypal, and Reuters says it controls more than 80 percent of online sales there. Jack Ma (pictured above) founded the company in his apartment in 1999 and is now China's richest man, personally worth some $18 billion as of market close, according to the Wall Street Journal. [Image credit: PETER PARKS/AFP/Getty Images]
GoPro files for an IPO to grow its media empire
Look, it was no surprise that GoPro has been planning to go public for a while now -- it said as much back in February. Things are finally getting officially official, though: the company just filed its S-1 with the Securities and Exchange Commission, so you can expect to see the ticker symbol GPRO on NASDAQ in due course. There's no shortage of financial types digging through the document as we type (bits to note: the company managed to turn a pretty profit last year, and it shipped a net total of nearly 4 million cameras in 2013), but the story is clear -- GoPro is a big deal, and it's going to get even bigger.