First day of Roblox trading valued games firm at $38.3bn

Games firm Roblox is now a public company, having successfully seen through its direct listing on the New York Stock Exchange. Its first day of trading yesterday saw the company’s share price close at $69.50, valuing Roblox at $38.26bn. That is certainly good news for Roblox’s investors, who include Warner Music Group, since when the company raised […]

Anghami reportedly set for public listing through Spac merger

Middle Eastern streaming service Anghami may be going public soon, via a special purpose acquisition company (Spac) in the US. Bloomberg reported that Anghami is “close to being listed on the Nasdaq stock exchange in New York” in a move that could value the company at nearly $300m. The report added that the move could be announced […]

Universal Music Group to go public with Amsterdam listing

The London Stock Exchange may be the listing venue of choice for companies like Hipgnosis and Round Hill Music, but Universal Music Group will be going public on a different European exchange – later this year. Parent company Vivendi confirmed its plans to spin off UMG on the Euronext exchange in Amsterdam, in an announcement that came […]

Spotify shares tumble after warning of uncertainty ahead

We reported yesterday on Spotify’s latest financial results, including decent growth in users, subscribers and revenues. Yet by the end of the day, the company was worth $5.37bn less than the day before, as its share price fell by 8.2%. Caveat: that still means a market cap of $60.15bn, more than double what Spotify was worth a […]

Universal Music Group could now go public by the end of 2021

A consortium led by Chinese tech giant Tencent has completed its deal to buy another 10% stake in Universal Music Group, valuing the major label at €30bn overall. The consortium now owns 20% of UMG, with majority owner Vivendi saying that the expanded stake “will notably enable UMG to further develop its activities in Asia”. Vivendi’s announcement […]

Netflix shares soar as video services passes 200m subscribers

Netflix ended 2020 with 203.7 million paying subscribers, according to its latest financial results. The company added 8.5 million net paid members in the final quarter of the year, and 37 million in 2020 as a whole – a record for Netflix. The video streaming service generated $6.64bn of revenues in Q4, and a net profit […]

Tencent Music could raise $3.5bn from secondary offering

Chinese digital music giant Tencent Music went public in 2018 with an IPO on the New York Stock Exchange. Now, however, the company may be preparing a secondary offering in Hong Kong that could raise up to $3.5bn. That’s according to Nikkei Asia, which suggested that TME’s plans are part of a trend for Chinese companies that are […]

Tencent has bought $200m stakes in Warner Music Group

On Friday it emerged that Chinese tech giant Tencent had bought a chunk of shares in Warner Music Group… but confusion reigned over exactly how much it had invested. The Wall Street Journal claimed it was $200m, while MBW said it was around $100m. As it turned out, both were right. Tencent Music Entertainment, the music streaming […]

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