Industry News Update – Week of 10/2/2017

Last week, Roku's IPO raised $219 million and the shares were priced at $14. Roku's shares opened at $15.78 and closed at $23.50 on its first day of trading which represents a 68% increase compared to its original share price.

Meituan-Dianping raised $3 billion to increase its offline retail offerings such as an offline store where customers can purchase grocery items using the company’s app. This push in the offline retail market will help the company compete with Alibaba’s brick-and-mortar stores. As a result of this funding round, the company's valuation rose to $28 billion.

Uber's CEO planned to meet with the Transport for London commissioner this upcoming Tuesday (10/3/2017) to discuss the company's license withdrawal.

Spotify's valuation rose to $16 billion after a series of private trades. This latest valuation is $3 billion higher than Spotify's last valuation that occurred in June in a previous series of similar private trades.

TaskRabbit was acquired by IKEA for an undisclosed price to assist customers in assembling their IKEA furniture. IKEA hopes to compete with Amazon which has bolstered its home installation offerings. Following the acquisition, TaskRabbit will operate as an independent subsidiary of IKEA.

The news articles and links presented below are available for your reference.

MEITUAN-DIANPING

"Tencent-Backed Meituan Close To $3 Billion-Plus Funding"

“China's Meituan-Dianping Aims To Raise Up To $5 Billion From Tencent, Others: Source”

ROKU

“Roku Closes Up 68% In Stock Market Debut"

SPOTIFY

"Spotify Is Now Valued At $16 Billion — And It Could Be Worth A Lot More When It Goes Public"

TASKRABBIT

"IKEA’s Latest Acquisition Will Help Assemble Your Ikea Furniture"

UBER

"Uber CEO To Meet London Transport Chief After License Loss"