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Tech Brew Ride Home

Tuesday, Apr. 3, 2018 - Spotify's Stock Debut

Tech Brew Ride Home

Amalgamated Internets, LLC

Tech News, News, Technology

4.71K Ratings

🗓️ 3 April 2018

⏱️ 18 minutes

🧾️ Download transcript

Summary

Spotify debuts on the stock market, but it needs to depend less on record labels, Trump seems serious about Amazon, your favorite messaging app is changing, Panera has a data leak and Swedes turn against a cash-free future. Links:Spotify relies on the big labels for most of its music. It thinks that will change. (Recode)“Trump is Like, ‘How Can I F--k With Him?’”: Trump’s War With Amazon (And the Washington Post) is Personal (Vanity Fair)No Sympathy for Amazon (The New Republic) Credits: Produced by @brianmcc and the @techmeme staff Music by @jpschwinghamer Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

Hey guys, Brian here. What follows is the podcast episode as originally recorded late this afternoon.

0:08.0

But after recording at about 420 PM Eastern time.

0:14.0

Various channels began reporting that there was an active shooter situation at YouTube's campus in San Bruno, California.

0:21.0

Police have since confirmed that they were indeed responding to an active shooter

0:25.2

and several hospitals have confirmed they've received multiple victims from the incident.

0:31.1

I obviously can't report much more since details are so thin at this time

0:35.3

but check tech meme.com for this developing story. The original episode as

0:41.4

recorded begins in about five seconds. Welcome to the Tech Mem Ride Home for Tuesday, April 3rd, 2018. Today,

1:00.7

Spotify debuts on the stock market, but it might need to depend less on record labels

1:06.0

going forward.

1:07.6

Trump seems serious about Amazon.

1:10.2

Your favorite messaging app is changing. Panera has a data leak and Swedes turn against a cash-free future.

1:18.0

Here's what you miss today in the world of tech. Spotify made its debut on public markets today soaring as much as 28%

1:31.7

above its reference price.

1:34.3

Shares opened at $165.90 before falling below $160 in the first hour of the new stocks

1:41.9

trading.

1:43.0

The New York Stock Exchange had set a reference price of $132 on Monday night

1:48.0

and at its opening trade, Spotify was thus valued at around $29.5 billion, well above its most recent

1:56.4

valuation of $19 billion and also above the reference price valuation of

2:00.6

23 billion. Spotify is not raising capital and our shareholders and

2:05.8

employees have been free to buy and sell our stock for years, CEO Daniel

2:10.4

Ek wrote in a blog post on Monday. So while today puts us on a bigger stage, it

...

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