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.
EV charging solution eDRV recently announced it closed a seed funding round. Bhaskar Deol, co-founder and CEO of eDRV, joined Cheddar News to explain how his company helps to launch and manage charging networks.
The Week's Top Stories is a guided tour through the biggest market stories of the week, from winning stocks to brutal dips to the facts and forecasts generating buzz on Wall Street.
Mass layoffs continue to still be announced so far this year. Julie Bauke, chief career strategist with The Bauke Group, joined Cheddar News to provide tips on how to look for your next job after being laid off.
A report from financial services website Credit Summit found that 90 percent of Americans say they enjoy receiving gift cards but a staggering $21 billion locked inside them have gone unspent.
