Spotify Technology S.A. (NYSE: SPOT), according to a Recode report.
The San Francisco-based Clubhouse allows app users to host their own online podcast shows. Listeners can tune in to hear interviews or discussions on a range of subjects and also participate in live discussions. It has recently introduced a feature that will help creators monetize their content via the app.
The buzzy app has rapidly added new members after securing endorsements and appearances from celebrities such as
Tesla Inc (NASDAQ: TSLA) CEO Elon Musk and Facebook s
Mark Zuckerburg.
Why It Matters: The startup, barely a year old, has seen its popularity rise, forcing more established rivals like
Facebook Pushes Into Audio to Compete With Clubhouse, Twitter
Kurt Wagner, Bloomberg News An attendee looks at a mobile phone while walking the demonstration room during the F8 Developers Conference in San Jose, California, U.S., on Tuesday, April 30, 2019. Facebook Inc. unveiled a redesign that focuses on the Groups feature of its main social network, doubling down on a successful but controversial part of its namesake app and another sign that Facebook is moving toward more private, intimate communication. Photographer: David Paul Morris/Bloomberg , Bloomberg
(Bloomberg) Facebook Inc. is moving more aggressively into audio products, trying to compete with rivals such as Twitter Inc. and popular upstart Clubhouse.
What Is Direct Public Offering (DPO)?
5 hours ago | Updated by José Oramas · 6 min read Photo: Depositphotos
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The guide provides information on a Direct Public Offering (DPO) – a type of offering in which a company offers its securities directly to the public in order to raise capital.
Direct Public Offering (DPO), or direct listing, is a process in which a company buys a direct placement in the public market. Most private companies decided to go public using this method, selling their shares directly to the public on a stock exchange at market price.
How Does a DPO Work?
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The massive valuation, which dwarfs more traditional financial companies including Intercontinental Exchange Group Inc. and Nasdaq Inc. itself, is a landmark moment for the crypto industry and for Coinbase, which was started almost a decade ago when few people had even heard of Bitcoin, and many exchanges were run by amateurs from their garages and homes.
Coinbase shares closed at $328.28, down 14% from the $381 opening price on Nasdaq after earlier climbing as high as $429.54. At the closing price, the company’s valuation on a fully diluted basis is about $86 billion.
Bitcoin, which along with Ethereum made up 56% of Coinbase’s 2020 trading revenue, dipped below $62,000 after earlier hitting a record price.