Industry News Update – Week of 1/8/2018

Last week, Spotify confidentially filed documents for its upcoming IPO that is expected to occur in Q1 2018. Spotify was also sued by Wixen Music Publishing for $1.6 billion for using thousands of songs without having the appropriate music licenses.

SpaceX is preparing for its initial Falcon Heavy launch by performing preflight tests while the rocket is positioned vertically on the launchpad. The Falcon Heavy is composed of three Falcon 9 boosters which are expected to lift more than twice the payload compared to other space vehicles.

Didi Chuxing acquired 99, a Brazilian ride-hailing company, for $600 million to expand its presence in South America where ride sharing is rapidly growing.

Softbank and several of its Uber co-investors acquired 18% of Uber in a tender offer where these companies purchased Uber shares from shareholders at a $48 billion valuation.

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


“Didi Chuxing, China’s Ride-hailing giant, Said to Buy Uber Rival in Brazil"


"SpaceX Shows Off its Falcon Heavy Rocket Vertical on the Launchpad"


"Exclusive: Spotify Files for its IPO"

"Spotify is Being Sued by a Major Music Publisher for $1.6 Billion"


"SoftBank Has Successfully Acquired 15 Percent of Uber in a Major Victory for Both Companies"