WeWork revenue of 900 million US dollars last year, there is no immediate IPO plan

WeWork can beat its competitors by providing young professionals around the world with a popular lifestyle and trying to get people to work longer with them.

According to foreign media reports, as the company’s operating scale has expanded to more than 200 office buildings worldwide, WeWork, a space-based New York office, said the expansion of operating scale will further help companies reduce the daily costs of glass, wood flooring, aluminum and lighting fixtures. Although critics believe the combined office valuation is overvalued, early signs of improving financial performance for the company are encouraging.

Artie Minson, WeWork’s president and chief financial officer, said the company generated about $ 900 million in revenue last year, largely from its main business of renting desks and offices for small and large companies. The company also reduced the recurring costs of building and operating offices, in part because it received discounts on bulk purchases.

“This is a very important sector and we are building a global supply chain that, frankly, allows you to build less than anyone else.”

WeWork does not need to report its financial information to the public, but agreed to provide some financial data when interviewed by Bloomberg.

WeWork has just been in business for eight years and is one of the richest private technology companies that has raised $ 4.75 billion in financing for its operations and affiliates. But company co-founder and chief executive Adam Neumann has been trying to change the internal funding position within the headquarters for the past few years. When the company lowered its revenue and profit forecasts in 2016, he severely criticized the “consumer culture” of employees.

As a private company, WeWork is rewarded for its revenue growth and ambitious planning. Another publicly traded company, IWG, will announce its annual results next month and expect the company to have revenues of $ 3.2 billion in 2017, more than tripled WeWork’s revenue over the same period. But its market capitalization of only 2.97 billion US dollars, and the valuation of 20 billion US dollars WeWork completely out of the same order of magnitude.

Investors say WeWork can beat its rivals by offering a youthful lifestyle to young professionals around the world and trying to get people to work longer with it. In addition to the office space, WeWork also attempts to provide dormitory-style living, community gatherings, gyms and education.

WeWork is cheaper to build

The joint office giant said it will get more favorable prices on production materials due to its expansion.

Minton said that since about 2 years ago, WeWork has cleaned up the list of expenses one by one, such as expenses of desks, office chairs and networking services to ensure that they enjoy the lowest prices.

Last year, WeWork reduced total capital expenditures (including construction refurbishments) per desk from $ 14,144 to $ 9,504. WeWork declined to say what the specific losses were last year, though the company said it was profitable last year, excluding “growth investments” such as entering new markets and developing new products.

WeWork also reduced operating expenses per desk associated with the locations of operations, including staffing costs for managing and cleaning desks. These calculations do not include the cost of acquiring new customers through promotions such as rent-free or discounts. As the company’s office buildings grow larger, with more than 3,000 customers in some office buildings, Minsen said, WeWork can use the same number of employees to serve more customers.

Although WeWork is actively controlling its costs, it still has high expectations for its future: the company currently has 200,000 members, but it plans to double the total number of members by the end of this year. The company expects next year’s revenue will reach at least 2.3 billion US dollars. The company also plans to double the number of its office buildings this year to more than 400.

Currently, about a quarter of the company’s revenue comes from big companies such as Microsoft, Facebook and General Electric, which often sign long-term leases compared to start-up customers. WeWork also actively explored the business in Asia last year in Japan, China and Southeast Asia set up three subsidiaries. In a round of financing last summer, Softbank invested 3 billion U.S. dollars in WeWork and 1.4 billion U.S. dollars in its Asian subsidiary.

Mingson said despite these increases, the company did not have an immediate initial public offering (IPO) plan. He said: “We run all the business a listed company may operate, but the company has no plans to go public.” At least one IPO pressure has been eliminated, as part of the Softbank financing, the company closed a ‘yes Meaningful ‘second-level sales program that allows all shareholders and employees who have been working with the company for at least a year to sell some shares.


T-Mobile, a U.S. carrier, announced the construction of a 5G network in 30 cities this year

Global operators have begun to start the construction of 5G networks in 2018, of which the two major telecom giants, AT & T and Verizon, also made announcements. According to the latest news from foreign media, the mobile operator ranked third in the United States has made an astonishing announcement recently: It will build a 5G network in 30 U.S. cities this year.

T-Mobile such a 5G network size, will lead AT & T and Verizon two operators.

According to the technology news site TheVerge, T-Mobile CTO Neville Ray made the above announcement at a recent World Mobile Communications Congress in Barcelona. The four cities that the company built the first 5G networks are Los Angeles, Dallas, New York and Las Vegas.

However, it should be noted that within this year, T-Mobile users in the United States are still unable to access 5G communications services. The executives said that the company will release the first smartphones supporting 5G networks at the beginning of next year.

The United States has four national mobile operators, AT & T and Verizon are the two giants, users ahead of the scale, T-Mobile ranked third, ranked fourth in Japan under the Sprint Group, Softbank.

It is unclear what kind of network speed a 5G network T-Mobile will build this year. The executives said T-Mobile believes 5G will be a supplement to the 4G network, not a complete replacement.

Allegedly, T-Mobile will use the millimeter wave (faster, but covering a relatively short distance) and the traditional 4G network radio frequency band to provide 5G communication services.

Earlier, the U.S. AT & T Company announced that it will build a 5G network in three cities this year, including Atlanta and Dallas. AT & T rival Verizon announced that it will build a 5G network in five cities, the specific city list has not yet been announced.

AT & T has said before that it will be the first U.S. operator to launch 5G communications services.

Recently, Nokia CEO Samie Surrey said at the World Mobile Congress that the global deployment of 5G networks by mobile operators is moving forward from 2019 to 2018, and such changes will also enhance the performance of Nokia.

Nokia is the world’s top three telecom equipment manufacturers, the other two companies are China Huawei and Sweden Ericsson. Undoubtedly, operators building 5G networks will bring huge equipment and network construction orders to these three companies.

In the world mobile communications conference, some manufacturers have also released 5G mobile phone or baseband processor products. It is generally believed that 5G-enabled smartphones will be available by the end of the year or early next year.

5G network will bring smartphones gigabit-level network speed, equivalent to the traditional optical fiber broadband speed, users only need a few seconds to be able to download a high-definition movie, another network capacity will also be greatly improved, 5G network Popularization, will bring a brand-new innovation space to mobile Internet.

At the just concluded Pyeongmong Winter Olympics, Samsung Electronics and Intel Corporation, the use of 5G communication technology to launch multi-angle broadcast and other experimental services.

Recently, relevant departments of the Chinese government also announced plans to build 5G networks in several cities in China, but large-scale promotion and application may have to wait until next year.


Comcast to throw $ 31 billion and Murdoch compete for Sky News Group

Comcast, the cable giant and content giant in the US, desperate for a fierce challenge to news conglomerate Murdoch.

Comcast announced that it acquired British Sky News Corp for 22 billion pounds ($ 31 billion) in cash, while Murdoch’s 21st Century Fox is trying to buy 61% of Sky Inc.’s shares it does not already own. Not long ago, Disney bought just about all its entertainment assets owned by 21st Century Fox, including its 39% stake in Sky, making the two battle over Skycom more complicated and confusing.

Comcast, which owns US NBC Radio and Universal Pictures, plans to acquire more than 50% of Sky’s stake at £ 12.5 a share, a 16% premium over Fox’s £ 10.75 bid. The news came as Sky Co. shares soared 20% in early trading Tuesday.

Comcast chairman and chief executive, Brain Roberts, said in a conference call with investors Tuesday that he believes Comcast’s deal with Sky will be “a perfect fit” that will create a market for entertainment and technology Industry’s “unique leader.”

Roberts added that the UK will be a good place to start business and said Comcast plans to use Skycom as a platform for its development in Europe.

Sky covers 23 million European homes and is famous for its technological innovation. Murdoch has always wanted to get 100% of the company’s control, but blocked by British regulators, mainly due to scruples a few years ago broke the Murdoch’s British media, “News of the World” (now discontinued) telephone tapping Scandal and Murdoch in the British media has had influence.

According to Reuters, Murdoch already owns several of the most widely circulated publications in the UK, as well as a 39% stake in Sky. British regulators fear that if Fox holds the entire sky company, the Murdoch family’s influence in the British media will be too great. The Murdoch family currently controls Fox News, the British newspaper The Sun and The Times.

Comcast has also considered bidding 21st-century Fox entertainment assets, including Sky and 20th Century Fox Films. Such bids could undermine the $ 66 billion deal that Fox and Disney have already reached. Currently, Disney declined to comment on the matter.

Analysts believe Murdoch will not give up the sky, the “fat” to the mouth, will be anti-bidding, put out higher than the purchase price of 12.5 pounds per share.


Google said it is studying various forms of AR but the technology will take years to mature

Google introduced ARCore at the 2018 Mobile World Congress and highlighted how it supports 100 million Android devices. However, Rick Osterloh, director of hardware at Google, said in a media interview that the company is studying various forms of augmented reality beyond mobile phones but no upcoming new products because the technology also needs A few years to mature.

In an interview with The Telegraph, Osterlo said Google is researching areas beyond mobile-based augmented reality that are very interesting.

He confirmed that Google is “doing a lot of research” and “constantly studying various forms of augmented reality applications.”

However, consumers should not expect the company to release new products in the short term. According to Ostero, the technology will take years to mature. Until then, Google will build infrastructure around it, this week with the release of ARCore version 1.0 is the best example. Developers are finally able to release augmented reality apps at the Play Store app store.

Osterlo said: “These technologies take some time to mature, about a few years and we will invest in this area for a long time, this technology is far from the expected value of the people are still some distance.”

When Austell joined Google in 2016, he was appointed to the company’s hardware business, including the Google Glass project, which later changed its name to Project Aura. In fact, Ivy Ross, head of the Aura project, was later named head of Google’s hardware design.

However, Google still launched last year’s Enterprise Edition Google Glass Glass Enterprise Edition. Before 2015, there were rumors that the department is developing two audio devices that use bone conduction technology.

In addition to Android and ARCore, Google also invested in Magic Leap, which recently unveiled its first hardware product of 2018.


Coinbase last year revenues 1 billion US dollars of which 43% came from in December

Coinbase last year revenues 1 billion US dollars of which 43% came from in December

36 Krypton friends • 2018-02-28 • Blockchain
Coinbase said in January it expects to earn more than 600 million U.S. dollars this year, but with more than $ 1 billion in revenue in 2017, helped by a wave of gains during Thanksgiving and Christmas last year.

According to foreign media reports, Coinbase, a digital currency trading and wallet service platform founded in 2012 backed by Silicon Valley investors, said the company has realized a revenue of 1 billion U.S. dollars in 2017. Yet another independent analysis by Superfly Insights reports that Coinbase’s revenue also started to plummet after that when Coinbase’s revenue accounted for 43% of its revenue for the full year, while the bitcoin price soared in December last year.

“Their magic has not continued,” said Jonathan Meiri, chief executive of Superfly Insights, after analyzing Coinbase’s data. “Although there was a sharp rise in December, signs of collapse began in January and February.”

The analysis of Superfly Insights Company is based on the income and aggregate data of anonymous email, the data come from the data of 25,000 users in the whole of 2017 and the first six weeks of 2018. The data is collected through Productivity Applications, Personal Finance Applications and Expense Management applications. Superfly Insights typically provides clients with this type of data and analysis, including hedge funds, banks and venture capital firms. Meri said Superfly Insights also provided data and analysis to KPMG. “Of the top five taxi applications in the world, three use our data.” Meri said data collection is limited to the terms of each application or service, and the tracking process complies with strict privacy laws in Europe as well Follow normal data protection regulations.

Coinbase said in January it expects to earn more than 600 million U.S. dollars this year, but with more than $ 1 billion in revenue in 2017, helped by a wave of gains during Thanksgiving and Christmas last year. Taking into account the madman in 2008 Bitcoin extreme rise in prices, this performance is reasonable.

Nicolas Christin, a Carnegie Mellon University professor, said Superfly Insights’ data is more reliable after he traced digital currency through the well-known Silk Road website. However, Kristen believes rigorous verification of bitcoin blockchain technology is extremely difficult, as platforms like Coinbase trade exclusively through bitcoin. Coinbase now refuses to respond to this.

It is not surprising that Coinbase’s revenue dipped as the cryptocurrency market, especially Bitcoin, rose, and the New York Times called Coinbase “the heart of bitcoin fanatics.” Coinbase charges an agency fee for a Bitcoin transaction, depending on the user’s location and currency. In December last year, bitcoin prices soared from $ 11,000 to $ 19,000 and then dropped sharply to $ 13,000. Just that month, Coinbase’s servers experienced multiple downtime because of the unpleasant impact of high traffic. According to the Times, the peak traffic to Coinbase servers in December last year was double the previous highest record and eight times that of June last year.

Higher prices and larger volumes mean that Coinbase charges higher transaction fees. This record will not be able to be refreshed unless the price of Bitcoin soar in 2018. “Unless the rally resumes, otherwise, it is very difficult to exceed the revenue of 2017.” Meri said. “It’s not easy to reach the same revenue level.” Of course, many cryptocurrencies predict that a new wave of market increases will occur in 2018, and some of these experts have deep roots in Coinbase. “Bitcoin will soar to $ 50,000 by December,” said Thomas Glucksmann, director of marketing for cryptocurrency trading platform Gatecoin, in an interview with CNBC.

Coinbase is generally considered the darling of the wave of cryptocurrencies, the company first sniffed out business opportunities in this area. For a long time, ordinary people had hard-pressed access to cryptocurrencies, except to find out how to “dig and coin” and to find someone who was willing to buy or sell cryptocurrencies. Coinbase is the first service platform that supports the purchase, storage of bitcoin and other digital currencies via bank transfers and credit cards. Brian Armstrong, chief executive of Coinbase, not only received media interviews but also meetings, in stark contrast to the mysterious, anonymous trader of the bitcoin 1.0 era. At the same time, Silicon Valley of Coinbase has its own legitimacy. By the end of 2017, Coinbase’s overall performance was excellent, despite frequent customer service problems and lawsuits with the IRS. The New York Times has said that Coinbase already has a two-story office in San Francisco.

However, Coinbase’s competitors are pressing harder behind, and now investors have many different options to buy cryptocurrencies. In 2018, Robinhood, which includes Square and the stock exchange, added support for cryptocurrencies, and both said they would not charge service fees for cryptocurrencies, putting a heavy strain on Coinbase.

In the survey, Superfly Insights also found that the revenue share of Coinbase has changed dramatically in a year. In early 2017, Bitcoin transactions accounted for 90% of Coinbase’s total transaction volume, with an average payment of $ 483. A year later, bitcoin trading is less than half the deal at Coinbase, as Coinbase has also started supporting transactions in other cryptocurrencies, such as Ethereum and Litecoin. At the same time, Superfly Insights also found that Coinbase users seldom sell their bitcoin, and once the user does that, the price is usually three times the average price, reaching $ 1,393.

Meri pointed out in the report: “I’m curious how Coinbase builds a recurring profit model, especially given the low average return on users. People buy Coinbase and accumulate a certain amount of money, and that’s where the problem lies Every single day I have to look at the price of bitcoin, what struck me is that there is very little that can be done.

According to the analysis of Superfly Insights, Coinbase’s income changes reflect the instability and imbalance of the cryptocurrency world, which is still in its infancy. Coinbase may be able to increase revenue through other business platforms and may even convince merchants to accept digital currency payments. Because if more businesses accept the use of cryptocurrencies to pay, then the price of these currencies will go up. It depends on whether Coinbase can convince more companies to join the world of digital money. Meri said: “Coinbase needs the business world to help become part of the business deal, but the fact is that most of the businessmen are not interested in relatively small bitcoin or other cryptocurrencies.”

Coinbase has now raised more than 225 million dollars from investors, and the company valued at 1.6 billion U.S. dollars after the most recent round of financing, partly because of the explosive growth and volatility in bitcoin prices.


Last year, Apple Music revenues 2 billion US dollars, an increase of 90%

In the past two years, Apple’s three major hardware (computers, tablets, mobile phones) all fell into the downturn and downturn, at the same time, Apple’s Internet business has made good growth, allowing investors to see some hope.

Apple’s most successful Internet business is streaming media services “Apple Music.” According to the latest news from foreign media, an analyst said the market value of Apple Music has reached 10 billion U.S. dollars.

After Cook served as CEO of Apple, Apple reduced the number of product sales figures released, such as Apple Watch has never been announced until today, sales, but it is rare that Apple will often announce changes in membership of Apple Music, which also shows that Apple Music Senior executives are satisfied with the development.

In early February, Apple released fourth quarter earnings, Apple Music, part of the service business, but the specific financial data is unknown.

According to a U.S. media quoting technology market research firm Bear Stearns, Apple’s service business increased by 24% in total last year, while Apple Music’s revenue growth was 91%, reaching 2 billion U.S. dollars.

However, Apple Music is still a startup, accounting for only 4.1% of Apple’s service revenue, but Apple Music has earned 36 million paid members after two years of development.

Toni Sacconaghi, an analyst at Bear Stearns Research, said Apple’s current revenues have been declining due to the declining revenue from its iTunes music download business, which analysts predict has halved since 2014.

Fortunately, however, Apple introduced Apple Music Services, to make up for the decline of the music download business.

In the music streaming market, Apple, a late-arriving company that transformed the Beats music business it acquired, reintroduced its name after a change of name, at a monthly subscription of $ 10. However, the difference is that with the adversary, Apple Music only membership service, there is no free service, which has also become a competitive disadvantage.

Analyst Sarkar predicts Apple Music’s revenue will grow 70% in FY 2018 (as of the end of the third quarter of this year) and 50% in FY 2019, which will make Apple’s music business a pillar of Apple’s service business.

According to Spotify, the global music service leader, the market is valued at about $ 10 billion and accounts for about 1% of Apple’s market capitalization.

Apple Music, according to the analysis, also has a negative impact on Apple, which has a profit margin of around 18% to 20%, below the profit margin of the electronics business, which will drag down the profitability of the entire company. Lower profit margins have also affected the valuation of Apple’s music business.

There are voices that start from the iPod player and iTunes music store, Apple has brought a revolution in the global digital music market. In order to continue to exist in the music market, Apple must enter the music streaming service.

In the era of smart phones, enjoy unlimited music through the Internet has become commonplace, the purchase of single spending patterns have been eliminated. From China to the United States, there have been a lot of music streaming services.

Globally, more and more music download stores have been out of the market. Up to now, Apple still operates the iTunes Store. It is not clear how many songs were sold last year and how much it slipped.