[TL;DR] Tech news that you shouldn’t miss this 04/03
Every evening, the best of Tech news is in the TL; DR of FrenchWeb.
TL; DR (invariable acronym) (21st century): initials of “too long; didn’t read “,
or literally “too long; not read ”
1. (Internet) To express that the message that was sent was not read because it was too long.
2. (Internet) To express that the following is a summary of the text too long.
Swedish Spotify hits Wall Street. The Scandinavian platform has more than 71 million paying subscribers around the world.
Why this is important: If the entry on the Stock Exchange of a new technology company is not surprising, the process chosen by Spotify is more surprising. Indeed, the Swedish platform has opted for a direct listing, a form of IPO that does not provide for the issuance of new shares. So the company openly decided to do without the services of an investment bank and not to raise new capital. According to SharesPost, this would save Spotify up to $ 300 million. For 2018, Spotify is targeting a turnover increase of 20% to 30%, between 4.9 billion and 5.3 billion euros. The Swedish company also intends to reduce its operating loss, bringing it down to 230 to 330 million euros by the end of the year, against 378 million euros last year. By the end of the year, the Swedish platform expects to have between 92 and 96 million paying subscribers around the world.
Walmart partners with JD.com to sell its fresh produce online in China. Customers can be delivered within a two kilometer radius of the supermarket in 29 minutes.
Why this is important: In the face of Alibaba, there is strength in unity. At least that’s what Walmart and JD.com think, which are increasing the collaborations between their entities. JD.com and Walmart’s first partnership dates back to 2016 when the two companies joined forces to counter Alibaba’s dominance in China. Since then, Walmart has held 5% of the capital of JD.com. The American supermarket giant had also injected $ 50 million into New Dada, JD.com’s food delivery service.
Uber is closing UberRUSH to focus on home meal delivery. The service was only operational in New York, Chicago and San Francisco.
Why this is important: The beginning of the end for UberRUSH had taken shape in April 2017 when the American firm announced that restaurants could no longer benefit from this service, but returning them to UberEATS, its meal delivery service. Uber’s future in delivery will therefore pass exclusively through UberEATS, whose growing success across the world is pushing the American firm to nurture great ambitions. Uber’s meal delivery service will be launched in 100 new cities in Europe, the Middle East and Africa during this year.