Led by Snapchat parent Snap, 2017 is supposed to be a better year for tech IPOs than 2016. “Initial public offerings … tumbled sharply during 2016 amid uncertainty and tumult in the stock market,” The New York Times reports. “Just 105 offerings priced during the year, according to data from Renaissance Capital, down 38 percent from 2015.” Yet, “Investors are betting 2017 will be better.”
Business Insider is losing its head of audience development Meena Thiruvengadam. “She’s the second top editorial employee to leave in the past two weeks,” Talking Biz News reports. “Matt Rosoff, Business Insider executive editor and global tech editor, left for a position at CNBC’s digital operations.” During her year or so at BI, Thiruvengadam oversaw audience development and social media strategy, among other responsibilities.
Get ready for “Amazon Digital Day” -- a blowout sale that Amazon plans to host at the end of every year. “As the name implies, the new sales holiday will have a narrower focus: only digital deals will be included,” TechCrunch reports. “For one day only, December 30th, Amazon will discount over 1,000 digital items across its site in order to encourage post-holiday spending.”
The New York Times looks into Snopes on fact-checking services that Facebook is counting on to help rid its platform of “fake news.” Regarding Snopes, The Times writes: “This is where the muddled masses come by the virtual millions to establish just what the heck is really going on in a world turned upside down.” Says Brooke Binkowski, Snopes’s managing editor: “Rationality seems to have fallen out of vogue … People don’t know what to believe anymore. Everything is really strange right now.”
Bloomberg examines the brewing battle between fashion e-tailer Zalando and Amazon. “The online behemoth is picking up European market share as it signs up models and socialites and cozies up to such brands as Hugo Boss and Gucci,” it writes. Says Susan Saideman, VP for Amazon Fashion in Europe: “We do more than people might appreciate … is very different from running a books business.”
In 2017, the startup most likely to go public include Qualtrics, Blue Apron, Zuora, Okta, and Pluralsight. That’s according to CB Insights’ fifth annual Tech IPO Pipeline Report. Overall, “There will be more tech companies going public in 2017 than this year,” GeekWire writes, citing CB Insights.
Apple is fighting a $14 billion tax bill it owes the EU. According to company execs, “EU regulators ignored tax experts and corporate law and deliberately picked a method to maximize the penalty,” Reuters reports. “Apple’s combative stand underlines its anger with the European Commission, which said on Aug. 30 the company’s Irish tax deal was illegal state aid.”
Thanks to a successful cloud strategy, Adobe is reporting strong fourth quarter financial results. “The creative software giant reported Q4 net income of $399.6 million,” ZDNet reports. “For the year, Adobe's revenue came in at $5.85 billion on earnings of $3.01 per share. Analysts were looking for revenue of $5.83 billion earnings of $2.98 per share.”