A day after Amazon announced it would jump head-long into the bricks-and-mortar grocery business by agreeing to buy Whole Foods Market for $13.4 billion, reports from earlier this week about a new patent issued to the company are starting to make more sense.
Content originally published at iBankCoin.com
Bloomberg is reporting that Reddit was seeking to raise $150m in new funds, placing the company's valuation at a staggering $1.7b. This sounds like a fucking bargain, especially when considering the immense traffic on the site -- which is now ranked #4 in America and #8 worldwide.
However, according to ReCode, the company barely made $20m in revenues in 2016 -- which is an utter and complete disgrace.
The last time Reddit raised capital was in 2014, $50m at a $500m market cap.
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Source: Townhall.com
Despite going all-in on Adam Sandler content – a bizarre choice - Netflix has managed to continue growing its subscriber base, recently reaching a new milestone: It now has more paying customers than Comcast Corp., Charter Communications and all other US cable companies combined.
As Forbes reports, Netflix now has 50.85 million subscribers, surpassing cable's 48.61 million. There is one caveat, though: Cable’s total doesn’t include minor cable networks, which could amount to 5% of total customers.
It’s no secret that Wall Street lives in constant fear of Silicon Valley. Bank CEOs probably wake up in a cold sweat after imagining that their clients have handed their money to some new startup that’s found a way to disrupt a financial service like, say, wealth management.