Uber's China Rival Gets a Boost, and Spotify Takes a Step Toward Public Markets
Didi Chuxing secures a $4 billion investment from SoftBank and Mubadala, bringing its valuation to $56 billion. The latest funding round comes amid reports SoftBank is looking to invest in rival Uber at a significant discount to its last $68 billion valuation.
And Spotify will reportedly get approval to list its shares directly on the New York Stock Exchange, a step towards avoiding a traditional IPO. The company could be valued as high as $20 billion.
Plus, speaking of going public, Pinterest will reportedly delay its planned IPO until 2019, as the company expects to fall short of revenue forecasts for the year. The photo-sharing app will bring in sales of $490 million this year, according to The Information. That compares to early estimates above $500 million.
Finding a new job is an emotional journey in itself and one woman is looking to get back into the workforce after some time off. Cheddar News' docuseries Ready 4 Work profiles her as she works through her job search.
Virgin Galactic has announced plans to pause flight operations next year so they can focus more on developing its next-generation delta class spacecraft.
The contract agreement reached Wednesday must still be approved by the union's board and its members, but the leadership said actors will be allowed to return to work starting Thursday.
