馃帶 Spotify Hits 165-Million Premium Subscribers

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Welcome to Roy Overload, the business, tech and finance newsletter. I'm Scott declary. This is what's making news today. spotify just hit a hundred and sixty five million premium subscribers. Search as a service product developer a Golia raised a hundred and fifty million dollars. Young People's privacy and security is going to increase dramatically on instagram and Goldman Sachs moves towards a defy ETF. Let's jump right into it. So, showing no signs of stagnation or saturation, spotify's total number of monthly active users has touched the three hundred and sixty five million mark. Out of these, a hundred and sixty five million are premium subscribers. The numbers show a twenty percent annual growth and volume of premium subscribers and a twenty two percent at growth in the volume of monthly active users. Apple Music and Amazon are rivals to spotify, although although these two do not publish similar numbers regularly, estimates suggested Apple Music has sixty million paying subscribers and Amazon music has fifty five million. Along with the subscription numbers, spotify also witnessed...

...a growth in its average revenue per user. The company now earns a five dollars and seven cents per premium subscriber, which is roughly equivalent to about four dollars twenty nine cents euro a. Last quarter, the platform is earning four dollars and twelve euros per premium subscriber. The growth is a result of an increase in the platform subscription prices. Yet, despite a quarterly growth, the per premiums of private revenue of spotify is down three percent compared to the same quarter last year. This quarter, spotify has made a net loss of twenty million euros, a humongous improvement compared to the net loss of three hundred and sixty five million euros in the same quarter the previous year. And, just to put it in perspective, that's about four hundred and thirty two million dollars. American search as a service product developer, algolia raises a hundred and fifty million dollars. Becoming a Unicorn, the search API start up, Algalia has raised a hundred and fifty million dollars in its series d funding. The funding round took the Post Money Valuation of the company to two point two five billion,...

...making it a Unicorn with, of course, evaluation of over one billion dollars. Lone Pine capital served as a lead investor in this round. Other investors to participate in the funding included Fidelity Management and Research Company, steadfast capital ventures, Glenn capital and Twilio. Even some existing investors of Algalia, including Excel Sales Force Venture, is a Dag Al Rock World Innovation Lab. They raised their stakes in the company. I'll Golia is famous for its search as a product service, letting users integrate real time search and at their application or website through a developer friendly API. The product acts incredibly quickly, super fast, with results loading within just a few milliseconds. Without revealing its actual revenue numbers, the company has reported a year over a year increase of a hundred and eighty percent and its annual recurring revenue. The company has more than tenzero customers, including some of the biggest global brands like slack, stripe, medium, Zen, desk and the cost in terms of traffic handled, I'll Golia...

...is now handling more than one point five trillion search queries per year. In Social Media News, instagram is upping the security and the privacy for younger people. This is a good move. INSTAGRAM is bringing a significant update in its settings, keeping its under sixteen users in mind. Any user age under sixteen or sixteen and under will now have a private account by default. Earlier, users had to choose between public and a private account when signing up. That is changed. Young users under sixteen will now have to manually shift to a public account if they decide to do so. The platform will also send a notification to the young users upon signing up explaining the benefits of having a private account and the ways to change the privacy settings and others. Another step towards the goal. INSTAGRAM will also limit the way advertisers and young people interact on instagram and facebook. It will allow add targeting only based on age, gender and location for users under eighteen. The advertisers won't have permission to leverage any other parameter such as interests or activity on other APPS or other websites. So...

...yes, they can still advertise to this age group, but they're removing the retargeting or the look alike or the tracking pixels that would probably give that much more information to advertisers. and Goldman sacks, in another big move for defy and Crypto and blocking. Goldman sacks is moving towards a defy ETF. So they're trying another mainstream financial institution is taking a keen interest in decentralized finance. The investment banking leader Goldman Sachs is filed an application with the SEC for the defy ETF. A defy ETF would be an exchange traded fund offering exposure to public companies in decentralized finance and blockchain, although many details on the exact composition so the companies that would be involved in the fund are yet to be made available to fund would invest at least eighty percent of its assets it's into companies pioneering the cause and use of blockchain and digital finance, or Fintech or decentralized finance, whatever you want to refer to it as the fund to be named...

...the Goldman Sachs innovative defy and blockchain equity ETF and become available in the markets of Australia, Canada, France, Germany, Hong Kong, Japan, South Korea, Switzerland, the Netherlands, the UK and the US. Now some quick other stories from around the web. What'SAPP and facebook news. What'SAPP The facebook and Messaging Service is working to develop a way to transfer chat histories between IOS and android. There's a new funding around led by Morningside Ventures and advantage capital, into met rhythms that is focused on digital therapy. They just receive twenty five million dollars in funding. And and other crypto story. Binance, one of the main leading major crypto firms, just reduced their withdrawal limits is zero point zero six BTC or bitcoin per day from August two thousand and twenty one onwards, if you do not have full Kyc, so if you don't have your identity verified on the platform. That's it for today. I hope you enjoyed if you found any value, share with your friends, family, piers, Co workers. They can go subscribe a newsletter dot Roy overload the...

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