Tag Archives: Source

Spotify makes confidential filing for U.S. IPO: source
January 3, 2018 6:00 pm|Comments (0)

NEW YORK/SAN FRANCISCO (Reuters) – Music streaming service Spotify has filed confidentially for an initial public offering with the U.S. Securities and Exchange Commission (SEC) and is moving ahead with a direct listing in the first half of the year, a source familiar with the matter said on Wednesday.

If Spotify, with was valued at as much as $ 19 billion last year, goes ahead with its plans, it would make it the first major company to carry out a direct listing, an unconventional way to pursue an IPO without raising new capital.

It also mainly eliminates the need for a Wall Street bank or broker to underwrite an IPO along with many associated fees and could change the way companies approach selling shares to the public.

The confidential filing was initially reported by news outlet Axios.

Spotify is the biggest global music streaming company and counts Apple Inc (AAPL.O) and Amazon.com Inc (AMZN.O) as its main rivals. Reuters has previously reported Spotify was aiming to file for an IPO in late 2017 and list with the New York Stock Exchange early this year.

Spotify could not be reached for comment.

Spotify was sued by Wixen Music Publishing Inc last week for allegedly using thousands of songs, including those of Tom Petty, Neil Young and The Doors, without a license and compensation to the music publisher. It was unclear what the lawsuit’s effect would be on its IPO plans.

Wixen, an exclusive licensee of songs such as “Free Fallin’” by Tom Petty, “Light My Fire” by the Doors, “(Girl We Got a) Good Thing” by Weezer and works of singers such as Stevie Nicks, is seeking damages worth at least $ 1.6 billion along with injunctive relief.

Spotify still intends to proceed with a U.S. direct listing in the first half of 2018, despite the lawsuit, according to a source familiar with the matter. It has filed for the listing confidentially with the SEC, with Goldman Sachs, Morgan Stanley and Allen & Co helping arrange it, the source added.

Reporting by Greg Roumeliotis in New York and Liana B. Baker in San Francisco; Editing by Meredith Mazzilli

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Rakuten eying entry into Japan's mobile carrier market: source
December 14, 2017 12:41 am|Comments (0)

TOKYO (Reuters) – Japanese online retailer Rakuten Inc plans to join a government auction for wireless spectrum to be held in January, potentially becoming the country’s fourth major wireless carrier, a source briefed on the matter said on Thursday.

A woman pushing a pram walks in front of a Rakuten Cafe store at a shopping district in Tokyo August 4, 2014. REUTERS/Yuya Shino

The source declined to be identified because the talks are private.

Japan’s mobile carrier market is currently dominated by NTT Docomo Inc, KDDI Corp and SoftBank Group.

The Nikkei business daily, which reported on the plan on Thursday, said Rakuten would raise 600 billion yen ($ 5.3 billion) by 2025 to invest in base stations and other infrastructure.

Rakuten said in a statement that while it was true it is weighing entry into the mobile carrier market, media reports on the matter were not something announced by the company.

Rakuten shares were down 1.7 percent in early trade. The benchmark Nikkei average was flat.

($ 1 = 112.6300 yen)

Reporting by Yoshiyasu Shida and Thomas Wilson; Writing by Makiko Yamazaki; Editing by Stephen Coates

Our Standards:The Thomson Reuters Trust Principles.

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Apple in talks to acquire music identification app Shazam: source
December 9, 2017 12:33 am|Comments (0)

SAN FRANCISCO (Reuters) – Apple Inc (AAPL.O) is in talks to acquire Shazam Entertainment Ltd, whose software helps users identify songs by pointing their phone at an audio source, according to a person familiar with the situation.

FILE PHOTO – A man looks at the screen of his mobile phone in front of an Apple logo outside its store in Shanghai, China July 30, 2017. REUTERS/Aly Song

Shazam’s smartphone app is already tightly integrated with Apple’s Siri digital assistant. Users of Apple’s iPhone with the Shazam app installed can say: “Hey Siri, what’s that song?” and the app will identify it. But Shazam has other features, such as the ability to identify television shows, that do not yet work with Siri.

Tech news website TechCrunch reported the talks earlier, writing that Apple could pay about $ 400 million for Shazam and that a deal could be signed as early as next week.

Shazam did not respond to a request for comment.

Privately-held, UK-based Shazam has raised $ 143 million from DN Capital Limited, Institutional Venture Partners, and Kleiner Perkins Caufield & Byers, among others, over its 18-year history, according to PitchBook, a firm that tracks private venture investments.

The price TechCrunch reported would fall far below Shazam’s most recent $ 1 billion valuation reported by PitchBook.

An acquisition of Shazam could help bolster Apple’s music efforts by making it easier for users to find songs and add them to playlists in its Apple Music service. As of mid-2017, Apple Music had 27 million subscribers, behind rival music streaming service Spotify’s 60 million users.

Reporting by Stephen Nellis, Editing by Rosalba O’Brien

Our Standards:The Thomson Reuters Trust Principles.

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Five Open Source Projects that MSPs Should Be Following
February 2, 2017 5:55 am|Comments (0)

The OpenStack cloud computing platform — some call it a cloud computing operating system — has been around for several years. Adoption has been …


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Open Source Pioneer Mark Shuttleworth Says Smart “Edge' Devices Spawn Business Models
January 5, 2017 2:50 am|Comments (0)

Ubuntu, a version of the Linux computer operating system, runs on many of the servers that power cloud computing. Ubuntu pioneer Mark Shuttleworth …


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Open Source, Containers and the Cloud: News from ContainerCon and LinuxCon
August 25, 2016 6:15 pm|Comments (0)

Here’s a round-up of the announcements and insights related to cloud computing that emerged from the meeting. LinuxCon and ContainerCon are …


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SUSE Debuts OpenStack Cloud 6 for Open Source Private Cloud Computing
March 5, 2016 1:00 am|Comments (0)

SUSE OpenStack Cloud 6, the newest version of the enterprise open source private cloud platform, focuses on enterprise adoption, SUSE says.


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Red Hat To Be First $2 Billion Open Source Company
December 10, 2015 1:25 pm|Comments (0)

Red Hat reports 13% growth in the second quarter, improved cloud and emerging technology sales, and an expanded revenue estimate for third quarter.


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Red Hat To Be First $2 Billion Open Source Company
December 5, 2015 1:05 am|Comments (0)

Whitehurst cited the cloud revenues, a small fraction of its total, as a sign that Red Hat has a firm grip on future revenues based on cloud computing.


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Red Hat To Be First $2 Billion Open Source Company
November 30, 2015 3:10 pm|Comments (0)

Red Hat reports 13% growth in the second quarter, improved cloud and emerging technology sales, and an expanded revenue estimate for third quarter.
InformationWeek: Cloud


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