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Business Stock Market Tech

Spotify Acquires Locker Room – Watch Out Clubhouse!

Spotify Acquires Locker Room and Announces Plans for a New Live Audio Experience

“Creators and fans have been asking for live formats on Spotify, and we’re excited that soon, we’ll make them available to hundreds of millions of listeners and millions of creators on our platform,” said Gustav Söderström, Chief Research & Development Officer at Spotify. “The world already turns to us for music, podcasts, and other unique audio experiences, and this new live audio experience is a powerful complement that will enhance and extend the on-demand experience we provide today.” 

This makes perfect sense for Spotify and an area that I’m sure they are going to be strong in.

Clubhouse has performed well because everyone has been in lockdown, but I’m not sure it will perform as well on its own over the long term as people get back to their normal lives at the end of the summer.

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Business Tech

TikTok Has Already Had Opportunities to Sell to Microsoft, Oracle, Sequoia and General Atlantic – But Decided No

It seems like everyone wants to piece of TikTok before D-Day in the USA.

Microsoft have been in talks for some time but don’t seem to be progressing.

Oracle are now reportedly in talks, but there has been no real confirmation of those talks from either side (plus I don’t know why Oracle would think that it would be a good fit to run a video consumer product).

Sequoia and General Atlantic attempted to buy a majority stake in TikTok last month, but both seem to have failed.

I think TikTok won’t be selling any stakes as it seems like they have had adequate opportunities already, but have decided not to move forward with those advances.

It going to be very interesting to see how this plays out.

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Tech

Blackstone Acquires Ancestry for $4.7 billion from Singapore’s sovereign wealth fund GIC, Permira, Silver Lake, Spectrum Equity

Blackstone has acquired Ancestry for $4.7 billion from a group of private equity investors (Singapore’s sovereign wealth fund GIC, Permira, Silver Lake, Spectrum Equity)

Within eight years those private equity investors purchased Ancestry for $1.3 billion and have now sold for $4.7 billion. Not a bad return!

Ancestry currently has $1 billion in annual revenue from a base of more than 3 million customers who pay for its various family history services.

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Business Stock Market

Warren Buffett’s Berkshire Hathaway Energy Acquires Dominion Energy’s Natural Gas Transmission and Storage Business for $9.7 billion

It has been confirmed that Berkshire Hathaway Inc’s energy unit will acquire Dominion Energy Inc’s natural gas transmission and storage business for $9.7 billion.

This puts Berkshire Hathaway Energy into a very strong position in the market.

Potentially, this is why Warren Buffett has been holding onto an extra large cash sum? Maybe not.

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Business Tech

Why Did Microsoft Buy Wunderlist and Then Kill The Product?

Microsoft buying Wunderlist seemed to fit nicely with the business productivity suite that Microsoft has developed over many year.

The Wunderlist acquisition was only $150 million and it sounds like a lot, but it is only 0.1% of Microsoft’s market capitalisation.

Wunderlist fits in nicely with Outlook and running tasks from within email – plus it can go nicely with Office 365 inside a suite of much larger products – it also might have been to hire the amazing talent at Wunderlist.