Five challenges for Snap Inc. in its first year as a publicly traded company, SpaceX test fires recycled rocket, Disney pays $100 million to settle wage fixing lawsuit, and more.
Much of Snap’s advertising model, which relies on selling Snapchat-tailored ads to brands, is still unproven at a large scale, reports the Business Journal. In light of its approaching IPO, here are five things to watch in Snap’s first year as a publicly traded company.
Space Exploration Technologies Corp. announced that it test-fired its previously-flown Falcon 9 first-stage booster in late January at its facility in McGregor, Texas, thus paving the way for its second launch this year scheduled for no earlier than March, reports Space Flight Now. The company claims that its ability to recycle rockets will reduce launch prices; satellite operator SES received a discount of about 10 percent to put its payload on the first flight of a previously-flown Falcon 9.
The Walt Disney Co., including Pixar, Lucasfilm, and Two Pic MC, have agreed to pay $100 million to settle claims that they conspired with other companies to lower the wages of animators and visual effects employees, reports Variety. The government alleged that Disney colluded to limit the hiring of competitors’ workers, which artificially suppressed wages.
Woo, an India-based dating app, has acquired L.A.’s Dus, an app designed for South Asian singles in the United States, reports the Business Journal. Terms of the deal were not disclosed. Dus, much like Austin’s Bumble, requires female users to initiate conversations.