Spotify has entered 2018 with a bang. Yesterday, news broke that Spotify was being hit with a $1.6 billion lawsuit. Then today, AXIOS reported that Spotify had filed IPO documents with the SEC at the end of December. The two journalists who broke these stories join Cheddar to break down the news and what's in store for Spotify.
Dan Primack of AXIOS explains that the company is pursuing a direct listing. This creates a unique path for the tech company that is distinctly different from the traditional IPO path. Primack reports that Spotify is targeting a Q1 public offering, and based on their current timeline, he thinks it is possible.
Eriq Gardner is the senior editor at The Hollywood Reporter and he broke the $1.6 billion lawsuit story. He reports that Spotify was sued by Wixen Music Publishing Inc last week for allegedly using thousands of songs without a license and proper compensation. Some of the artists under Wixen Publishing include Tom Petty, Neil Young, and the Doors. Gardner was not surprised by the lawsuit. He says that many record labels are fans of the music streaming company because they have deals that could lead to billions of dollars if the company goes public. However, as current law stands, music publishers have not benefitted from the rise in popularity of Spotify. This is why he was not surprised by the lawsuit.
Supergoop! is a skincare brand whose products are what the company says is 100% dedicated to sun care. Amanda Baldwin, CEO of Supergoop!, joined Cheddar News to discuss why sunscreen is important to add to daily routines. "What I love about this company is ... it really is based on scientific fact," Baldwin said. "90% of the signs of aging comes from the sun ... one in five of us will be diagnosed with skin cancer in our lifetime so making sunscreen a daily habit is probably one of the most simple things you can do for your health."
College enrollment rates for high school graduates in the U.S. has been on the decline since 2009. Sean Behr, CEO of Fountain a high-volume hiring platform, joined Cheddar News to discuss why high school graduates are benefitting from the value of attending a trade school, especially in today's economy.
Artificial intelligence is revolutionizing how people work, including in creative industries. The famous Tribeca Film Festival featured some projects recently that used A.I. that some filmmakers say make it more creative. Cheddar News took a peek at some of those films.
No one likes to have to take their clothes to the laundromat. But a new bar in Brooklyn, called Pearl Lee’s Washtub, is spicing up the chore by creating a laundromat that's also a full bar.
