Industry News Update – Week of 5/22/2017

Last week, Spotify acquired Niland, French artificial intelligence company, to optimize music recommendation and search by automatically classifying audio and using acoustic similarity algorithms. Also, Spotify revealed key 2016 financial metrics such as a 50% increase in revenue from 2015 to 2016 ($3.1 billion) and a significant increase in operating loss in 2016 (between $333.8 million to $444.5 million).

Uber released its Uber Freight app which connects commercial shippers with truck drivers willing to transport shipments.

WeWork announced that the company is expected to reach a $1 billion run rate this year. 

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

SPOTIFY

“Spotify just bought an AI startup to help it stay ahead of Apple Music"

"Spotify Reports Wider Than Expected Operating Loss, Despite Revenue Increase"

UBER

“Uber Freight Is The First Step To Automating Away Truckers"

WEWORK

“Wework Ceo Talks Revenue, Funding And Community"