All you need to know about what happened this week in private equity.
The New York Times is working with Spotify to give their digital subscribers free access to the music-streaming service. Readers who subscribe for $5/month to a one-year online version of the Times will automatically get unlimited access to Spotify’s premium music streaming service. The Times’ chief revenue officer found this to be a ‘natural fit’; liking the idea of an older, established publisher to partner with a hot new streaming service that has taken the music world by storm.
The tequila maker Jose Cuervo – who is feared as much as it is loved by consumers world-wide, is hoping to raise $700M in it’s IPO. Mexican investors are eager to buy shares of the world famous tequila maker. With the United States and Canada accounting for 64 percent of Cuervo’s $1.65billion 2015 revenue, foreign import and exchange risk shouldn’t play too much of a risk. As it turned out, Reuters wrote on Feb 9th that Jose Cuervo raised over $900 million in its IPO.
Photo: Susana Gonzalez | Bloomberg | Getty Images