Match drops 5% on Facebook Dating, WeWork’s valuation may get halved, and Slack’s “10M” problem

The Best One Yet

Nick & Jack Studios

Business, News, Finance, Pop Culture, Business News, Tech

4.6 • 9.8K Ratings

🗓️ 6 September 2019

⏱️ 16 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Tinder-owner Match fell 5% on word Facebook’s new dating feature goes live, like, right now — even though Match already knew the competition was coming. Slack released its first earnings report since going public, revealing its next 10M users are harder than the 1st 10M. And WeWork may slice its valuation from $47B to about $25B before it IPOs because critics think its IPO paperwork is a “masterpiece of obfuscation.”Learn more about your ad choices. Visit podcastchoices.com/adchoices

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Transcript

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0:00.0	This is Nick, this is Jack, this is Snacks, daily it is Friday, September 6th a lot of
0:07.0	this is the best one I knew you were going somewhere that this is actually my favorite snacks we've ever done.
0:11.0	Boring headline moved markets up yesterday, the US and China are gonna talk about trade.
0:16.0	Been there, heard that, it's happened before.
0:18.0	Three stories on a lot of work.
0:19.0	Wonderful mix here I wanna point out, but it's, it's these are big companies.
0:22.0	The owner of Tinder and Hinge is called Match Group.
0:26.0	They dropped 5% because Facebook's dating feature is going live in the US starting yesterday.
0:31.0	And here's the kicker, Instagram.
0:34.0	It's going to the gram.
0:36.0	Second story Jack.
0:37.0	Slack released its first earnings report since going public in June.
0:41.0	The stock plummeted.
0:42.0	The first 10 million customers for Slack were one thing.
0:46.0	The second 10 million, we found a problem with them.
0:48.0	Third and final stories are unicorn of the day, we work.
0:51.0	It's like an injured unicorn Jack.
0:52.0	It's a wounded unicorn with rainbow blood.
0:55.0	Just crest down the leg.
0:57.0	We told you the other week about its IPO paperwork, the S1.
1:00.0	Now it plans to maybe cut its valuation in half from $50 billion to $25 billion.
1:06.0	That is a crushing wound.
	...

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