Industry News Update – Week of 11/20/2017

Last week, Airbnb, Lyft and Spotify acquired several companies to enhance their platform offerings in the adtech, mobile development, and music development fields. Airbnb purchased AdBasis, a digital advertising analysis company, to test and optimize its ads on its platform. The company also acquired Accomable, a platform that helps to connect lodging to people with disabilities, to increase the number of wheelchair-accessible listings and to provide comprehensive listings for people with disabilities. Lyft bought Kamcord, a mobile game streaming company, to enhance its passenger pickup and driver features. Spotify acquired Soundtrap, a collaborative recording platform, to allow its artists to create music using Soundtrap's toolkit.

Pinterest released its Pincodes feature that scans QR-codes as an extension its Lens feature to allow users to browse through similar products. This feature is expected to be used on packaging and ads to increase customers’ awareness of the products available for purchase on Pinterest.

Buzzfeed revealed that the company's expected 2017 revenue target of $350 million will likely be missed by 15% to 20%. The expected revenue decline along with increased expenses due to expansion has resulted in speculation that Buzzfeed's IPO could be postponed until after 2018.

Uber intends to purchase 24,000 self-driving cars from Volvo to compete with Lyft in the autonomous vehicle sector.

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

AIRBNB

"Airbnb is Buying a Startup That Offered Similar Home Rental Services for Disabled Travelers"

“Airbnb Acquires Ad Tech Startup Adbasis"

BUZZFEED

"Buzzfeed Unlikely to go Public Next Year as Revenue Falls up to 20% Short of Forecast, Report Says"

LYFT

“Lyft Acquihires the Kamcord Team for Engineering Talent"

PINTEREST

"Pinterest Launches Colorful Pincodes That Link to Fashion and Food Boards"

SPOTIFY

"Spotify Acquires Online Music Studio Soundtrap as it Goes After Creators"

UBER

"Uber Set to Buy Self-Driving Cars from Volvo, Rivaling Lyft's Fleet"