Deezer's IPO off to a rocky start – The former unicorn of French music streaming lost nearly 30% of its value on its first day on the Paris Stock Exchange on Tuesday, July 5. Deezer, which had already canceled its IPO in 2015, has this time maintained its value thanks to a merger with the SPAC I2PO – a listed shell company dedicated specifically to the acquisition of another company – founded by the Pinault family. A collapse that can already be explained by the difficult context of tech and in particular music streaming, which makes investors cautious.
The stock markets have experienced their worst half-year in macedonia phone number library decades and music has particularly suffered. Spotify has seen its share price divided by 3 since last October, the French Believe has lost half of its value since its introduction last month and even Universal, considered the jewel of listed music, had lost 19%. In addition, Deezer's lack of international influence has not helped. The French group still managed to raise more than 170 million euros, which seems enough to fuel a strategic shift allowing it to coexist with the giants of music streaming, and to achieve profitability in the long term.
Tech lays off massively in bid to stay profitable – The waves of layoffs that have been rocking the industry since May are only intensifying, between restrictive policies in Asia, buyouts and the fall of cryptocurrencies. No one seems to be spared. Niantic has let go of around 90 employees, representing 8% of its workforce,
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