Welcome to this week’s Private Markets Express, a digest of small pieces of private equity news and knowledge gathered for your reading pleasure.
Last week, Spotify came out with the news that they have hired a new head of PR – former head of Communications for Target, Dustee Jenkins. Many find this news another positive affirmation of Spotify’s anticipated 2018 direct offering. Jenkins will make the move to New York after spending the last 7 years in Minneapolis for Target.
Despite Uber’s tumultuous 2017, the company’s sales are recovering and customers are returning. Between March and September, sales grew 15%. As well, Uber is still the ride-share platform of choice in the US among US customers. In the last month, riders took Uber an average of 5.2 times per month.
Alternatively, Lyft, the ride-share competitor to Uber saw one of its best years to date in 2017 – gaining new customers and massive growth; sales grew by 33% between March and September. Lyft also expanded to 160 new cities this year and now operates in more than 360 cities.
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