Welcome to this week’s Private Markets Express, a digest of small pieces of private equity knowledge gathered for your reading pleasure.
This week, some good news came for the ride-sharing giants. Uber and Lyft will be returning to Austin, Texas after Greg Abbot’s signature on House Bill 100 immediately nullified Austin’s onerous regulations which drove the two ride-sharing companies out of town back in May 2016. According to Forbes, the statewide ride-sharing legislation passed the House and Senate by a two-thirds majority. Both apps went live shortly after the bill was signed, ending a year-long absence from the Austin market. “Today is a celebration of freedom and free enterprise,” said Abbott.
Music streaming service Spotify has been busy again this week. Amidst the speculation around Spotify’s impending direct listing on the NYSE, the company is stepping up its expansion plans in Asia. According to TechCrunch, the firm is working to launch its music streaming services in Vietnam and Thailand, as they are currently hiring for “music editor” positions there. The two countries with a combined population of over 160 million. TechCrunch believes the creation of that role is a common pre-cursor to a full country launch.
On Wednesday, MobileIron, the security backbone for the multi-cloud enterprise, announced that MobileIron Access, the company’s cloud security product is integrated with Dropbox Business. The integration ensures only trusted users, on trusted devices, using trusted apps can access enterprise data in cloud services. Through the integration, MobileIron and Dropbox offer secure access to corporate documents on mobile devices. MobileIron adds additional security to mobile devices, ensuring data is not leaked through accidental loss or malicious applications. This integrated experience provides Dropbox users with a simple user experience and ensures enterprise data is protected.
Also this week, Dropbox has recruited Le Tran as its head of communications for Asia-Pacific and Japan. Tran was PR and communications manager at Salesforce for 2 years before joining Dropbox. Tran said: “I’m so excited to have the opportunity to take the brand to new levels in the region and share the Dropbox collaboration story with the wider business and consumer community, here in Asia-Pacific and Japan.”
Singtel now offers DocuSign’s secure electronic signatures under their Software-as-a-Service (SaaS) business portfolio. The introduction of the DocuSign service app in Singtel’s myBusiness portfolio is a means for small-to-medium sized businesses to stay competitive and enables convenience in the digital-based economy.
According to Singtel’s myBusiness portal, DocuSign allows the SME (small-medium enterprise) to:
- Authenticate your documents with data encryption, making every document confidential
- Comply with the highest and broadest set of security standards
- Receive real-time reports of your document, including signatures of approved documents, logs of approvals, and related recipient actions
SpaceX, the rocket company led by Elon Musk, was set to complete its 11th commercial resupply mission to the International Space Station (ISS) on June 1. The launch, however, was canceled due to thunderstorms in the area, less than 2 minutes before blast-off. The 23 story rocket was carrying a communications satellite for Luxumbourg-based SES SA.
On May 15, 2017, SpaceX’s Falcon 9 rocket successfully delivered the Inmarsat-5 F4 satellite to a Geostationary Transfer Orbit. The upcoming launch, if completed successfully, will be SpaceX’s 6th completed mission in 2017.
The launch has been rescheduled for June 3 at 5:07 p.m. (EST)
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