DIRS.INFO The most relevant business & tech news

☆ Evergrande stock crashes again as fears of collapse grow
▼ + stars: | 2023-09-27 | by ( Laura He | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —Shares of Evergrande Group crashed again on Wednesday as fears grew of a potential liquidation of the company, the poster child of China’s property crisis. Evergrande’s woes deepened this week, after it warned that its offshore debt restructuring plan may be in trouble because of a regulatory probe into its main subsidiary in mainland China. That was thanks to a rise in revenue because of a “short boom” in China’s property market earlier this year, the company said then. Evergrande has been trying to implement a government-supervised restructuring of its debts, which stood at $328 billion at the end of June. Evergrande was forced to cancel meetings with creditors scheduled for this week, in part because recent sales have been weaker than it expected.

Persons: Evergrande, ”, Jun Rong Yeap, Frederic Neumann, ” — Marc Stewart Organizations: Hong Kong CNN —, Evergrande Group, Hong, Hong Kong, IG Group, HSBC, CNN Locations: Hong Kong, China, Evergrande, United States, Asia, Beijing

☆ Supply chains may be moving out of China and into Asia — but they aren't really decoupling from the country
▼ + stars: | 2023-09-20 | by ( Huileng Tan | ) www.businessinsider.com time to read: +7 min

Supply chains are diversifying away from China, causing a shift in global-trade patterns. Data shows that while manufacturing activity for end products has been moving out of China, supply chains haven't decoupled from the country. "Companies are moving manufacturing processes to other countries, including parts of Asia and North America, to diversify their supply chains. Companies are moving their supply chains out of China. As Insider reported in April, even Chinese companies are moving their supply chains out of China to avoid risks.

Persons: Donald Trump, Biden, Misha Govshteyn, Nomura, Sonal Varma, reexported, —, Frederic Neumann, Yukon Huang, Genevieve Slosberg, Lu Yucong, Carnegie's Huang, MaroFab's Govshteyn Organizations: Service, Apple, Mazda, Asia Supply, Nomura Holdings, East, HSBC, Association of Southeast, Nations, Carnegie Asia Program, Financial Times Locations: China, Southeast Asia, Wall, Silicon, Asia, Washington, Beijing, Vietnam, Bangladesh, North America, Houston, South Korea, Hong Kong, China's, India, Japan, Europe, Yukon, America, United States, Guangdong

NASHVILLE, Tenn. (AP) — For nearly a week, families whose lives were upended by a Nashville elementary school shooting took turns sharing dark details to Tennessee lawmakers. Meanwhile, families have waded into the legislative process, uncovering and reliving personally painful details before lawmakers — privately, publicly or both — with mixed results. The inaction this year in Tennessee was markedly different than how Florida reacted five years ago to a massive school shooting. Parents offered similar pleas in Tennessee last month during a brief special legislative session called by Republican Gov. For many parents, it signaled they would likely retell and relive these dark moments for many more months, as they pledged to seek change next legislative session and in the 2024 statehouse elections.

Persons: —, ”, Melissa Alexander, reliving, “, Melissa Brymer, Marjory Stoneman, “ I’ve, Max Schachter, Alex, I’m, Kimberly Mata, Rubio, Lexi, ” Mata, Bill Lee, Jeremy Faison, Sarah Shoop Neumann, audibly, Chris Todd, Becky Hansen, sobbed, Abby McLean, ” McLean, ” Alexander, Paul Weber Organizations: Covenant School, Republican, General Assembly, Democratic, UCLA, Duke University National Center for, Florida's Republican, Marjory Stoneman Douglas High School, Parkland, Robb Elementary School, Texas Capitol, Texas House, Republican Gov, Capitol, Covenant, House Republicans, Senate, Associated Press Locations: Tenn, Tennessee, United States, Florida, Parkland, Texas, Uvalde, Austin , Texas

☆ Indian rice export ban has an 'unintended side effect,' economist says
▼ + stars: | 2023-09-19 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIndian rice export ban has an 'unintended side effect,' economist saysFrederic Neumann, chief Asia economist at HSBC, discusses the ban's impact on regional markets such as Malaysia and the Philippines.

Persons: Frederic Neumann Organizations: HSBC Locations: Asia, Malaysia, Philippines

☆ Getir emerged as a tentative winner in Europe's pandemic-fueled rapid-delivery sector. But it still faces sizable threats.
▼ + stars: | 2023-09-18 | by ( Riddhi Kanetkar | Callum Burroughs | ) www.businessinsider.com time to read: +8 min

In March 2022, Nazım Salur invited thousands of Getir employees to a Zoom meeting to celebrate its newfound "decacorn" status. However, as soaring inflation and rising interest rates began to hobble the tech sector, investors became far less forgiving of businesses that had oriented themselves more toward growth than sustainability. In December 2021, The Guardian reported that Getir had offered customers a deal where they could get £15 off if they spent £16. About 21 rapid-delivery startups were operating across Europe in 2021, with Getir joined by the German outfits Gorillas and Flink, as well as the British startup Zapp. Getir tentatively emerged as the winner in the rapid-delivery sector when it bought its main competitor, Gorillas , in a heavily discounted deal for $1.2 billion in December.

Persons: Nazım Salur, Nazım, Getir, Blok, London's, Alexi Rosenfeld, they've, Adam Neumann, Michael Moritz Organizations: Tiger Global, Mubadala, Financial Times, Getir, TechCrunch, Guardian, DST Global, Gorillas, Abu Dhabi Growth Fund, Google, PayPal Locations: Spanish, Berlin, Turkey, Turkish, Germany, Netherlands, Istanbul, Turkey's, Europe, British, Abu Dhabi

☆ Stocks making the biggest moves midday: Netflix, Etsy, HP, Visa and more
▼ + stars: | 2023-09-14 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Striking Writers Guild of America members walk the picket line in front of Netflix offices in Los Angeles, July 12, 2023. Check out the companies making headlines in midday trading:Visa — The credit card behemoth's stock was trading more than 2% lower after announcing plans to change its share structure. Netflix — The streaming giant's shares slipped roughly 2% in midday trading after Chief Financial Officer Spencer Neumann said the ongoing Hollywood writers' strike is bad for business. The movie theater chain said it sold 40 million shares at an average price of $8.14, raising about $325.5 million. Etsy — The e-commerce retailer's stock rose nearly 3% after Wolfe Research upgraded Etsy to outperform from a peer perform rating, citing improving consumer spending and margins.

Persons: Semtech, Spencer Neumann, Neumann, Warren, Berkshire Hathaway, —, Samantha Subin, Pia Singh, Alex Harring Organizations: Guild of America, Netflix, Visa, FactSet, Penn Entertainment, Deutsche Bank, Penn, ESPN BET, AMC Entertainment, AMC, Wolfe Research, HP, Exxon Mobil, Chevron —, Exxon, Chevron Locations: Los Angeles, U.S, China

☆ China's trade slump narrows as stabilisation signs emerge
▼ + stars: | 2023-09-07 | by ( Joe Cash | ) www.reuters.com time to read: +3 min

“The trade data is marginally better, but I don’t think we should be reading too much into that: trade is still contracting,” said Frederic Neumann, chief Asia economist at HSBC. “There is a bit of a sign here of stabilisation, but I think there’s still a long way to go,” he added. “Looking ahead, whether China’s trade growth has already hit the bottom will hinge on several factors, the most important of which is obviously domestic demand.”Governments around the world are nervous about China’s economic slowdown with many exporting nations highly dependent on the country’s market for growth. However, trade with Japan dropped sharply, with outbound shipments from China to its neighbour down 20% in August year-on-year, while imports worsened by 17%. China posted a trade surplus of $68.36 billion in August, compared with a forecast $73.80 billion and a July figure of $80.6 billion.

Persons: Aly, ”, Frederic Neumann, Zhou Hao, it’s, Nie Wen Organizations: REUTERS, HSBC, Guotai, “, Australian, Hwabao Trust Locations: BEIJING, Shanghai, China, Asia, Beijing, United States, Southeast Asia, Australia, Japan, Tokyo, Brazil

WeWork's lease liabilities accounted for more than two-thirds of its operating expenses for the second quarter of this year, Tolley said. As of June 30, WeWork had 777 locations in 39 countries. The shuttering of select WeWork locations isn’t new. The process to renegotiate so many leases could take months, if not longer, he said. WeWork’s plans to renegotiate most of its leases also arrive at a time when demand for office space is weak overall.

Persons: — WeWork, “, WeWork, David Tolley, Tolley, ” Tolley, ”, Jonathan Adelsberg, Herrick, Feinstein, Sam Chandan, Chao, Chen, University’s, ” Chandan, David Putro, “ It's, ” Putro, WeWork’s, Chandan, Adam Neumann, It's Organizations: New, Real Estate Department, Chen Institute, Global Real Estate Finance, University’s Stern School of Business, Morningstar Credit, Major, D.C, Putro Locations: New York, Major U.S, San Francisco , New York, Chicago, Washington, San Francisco, “

However, in a hopeful sign for growth, conditions did not materially worsen even though the survey showed factories under persistent pressure. China's major manufacturing rivals in the region Japan and South Korea also reported sharp declines in output on Thursday. "It's too early to tell, but today's print suggests that a sequential uptick in growth activity in the third quarter could still be possible," said Louise Loo, senior economist with Oxford Economics. Policymakers remain under pressure to boost domestic demand as the global economy continues to slow. Going forward, "the actual implementation and effectiveness of policy support will be the key indicator to watch," he added.

Persons: It's, Louise Loo, Pan Gongsheng, Frederic Neumann, Bruce Pang, Jones Lang Lasalle, Joe Cash, Qiaoyi Li, Ellen Zhang, Sam Holmes Organizations: REUTERS, Rights, National Bureau of Statistics, PMI, Oxford Economics, Reuters, People's Bank of, Global Research Asia, HSBC, Jones, Thomson Locations: Hangzhou, Zhejiang province, China, Rights BEIJING, Japan, South Korea, People's Bank of China, United States, Europe, Asia

REUTERS/Ann Wang Acquire Licensing RightsLONDON/NEW YORK, Aug 28 (Reuters) - Hedge funds hold record exposure to the seven biggest tech stocks by market capitalization, according to data released on Friday by Goldman Sachs, in a week Nvidia (NVDA.O) hit an all-time high after beating revenue expectations. The largest seven U.S. stocks collectively now make up about 20% of the total net market value held by hedge funds tracked by Goldman Sachs. Last week, Nvidia reported record quarterly revenue fueled by strong demand for its artificial intelligence (AI)-focused chips and said the AI boom has legs. Hedge funds will be forced into capturing these returns regardless of analysis," said Jim Neumann, chief investment officer of Sussex Partners. Goldman Sachs, which runs one of Wall Street's largest prime brokerages, is able to track trends in flows.

Persons: Ann Wang, Goldman Sachs, Jim Neumann, Bruno Schneller, Schneller, Daniel Loeb, Nell Mackenzie, Sharon Singleton, Paul Simao Organizations: REUTERS, Nvidia, Microsoft, Apple, Tesla, Nasdaq, Reuters, Sussex Partners, INVICO Asset Management, Thomson Locations: Taipei, Taiwan, Wall, Carolina

☆ NYSE suspends trading of WeWork warrants, to start delisting them
▼ + stars: | 2023-08-22 | by ( ) www.reuters.com time to read: +2 min

WeWork logos are seen at a WeWork office in San Francisco, California, U.S. September 30, 2019. WeWork, which earlier this month warned about its ability to stay afloat, added that the company's common shares will continue to trade on the NYSE. WeWork had received a non-compliance notice from the NYSE in April, as its stock closed below $1 on average over a consecutive 30 trading-day period. In its efforts to regain listing compliance, WeWork last week had said it would proceed with a one-for-forty reverse stock split. WeWork's shares have lost almost all its value since it went public with an equity value just shy of $9 billion in 2021.

Persons: Kate Munsch, WeWork, recoiled, Adam Neumann, Jaspreet Singh, Shailesh Organizations: REUTERS, New York Stock Exchange, NYSE, Thomson Locations: San Francisco , California, U.S, WeWork's, Bengaluru

☆ Eliot Brown — Reporter at The Wall Street Journal
▼ + stars: | 2023-08-18 | by ( Eliot Brown | ) www.wsj.com time to read: 1 min

Eliot BrownEliot Brown writes about finance from The Wall Street Journal's London office. He previously covered startups and venture capital from San Francisco and commercial real estate from New York City. He is the co-author of "The Cult of We: WeWork, Adam Neumann and the Great Startup Delusion," published in summer 2021.

Persons: Eliot Brown Eliot Brown, Adam Neumann Organizations: The Locations: San Francisco, New York City

☆ WeWork announces 1-for-40 reverse stock split to avoid getting kicked off the New York Stock Exchange
▼ + stars: | 2023-08-18 | by ( Samantha Delouya | ) edition.cnn.com time to read: +2 min

The troubled company, which operates co-working spaces, said it will proceed with a 1-for-40 reverse stock split of its outstanding shares, meaning that 40 shares of WeWork stock will be swapped for a single share. The reverse stock split is a bid to boost WeWork’s ailing stock price and save its shares from getting delisted. WeWork’s reverse stock split will be effective at 4:01 pm Eastern Time on September 1 and begin trading post-split at the market open on September 5. As part of the plan, WeWork said it will try to lower rent costs by renegotiating more favorable lease terms for its office spaces. Members pay to rent desks at WeWork’s office spaces.

Persons: CNN —, WeWork, Adam Neumann, Sandeep Mathrani, David Tolley Organizations: CNN, New York Stock Exchange, NYSE

☆ WeWork plunges another 11% after announcing reverse stock split to try and keep NYSE listing
▼ + stars: | 2023-08-18 | by ( Ari Levy | ) www.cnbc.com time to read: +2 min

WeWork , the office-sharing company once valued at $47 billion, said Friday it will undergo a 1-for-40 reverse stock split to try and keep its stock from being delisted. "The Reverse Stock Split is being effected to regain compliance with the $1.00 per share minimum closing price required to maintain continued listing on the New York Stock Exchange," WeWork said in a filing with the SEC. The reverse split will take effect after the close of trading on Sept. 1, the company said. The move will do nothing to improve the company's financials or valuation but, based on Friday's close, it would lift the stock price to $5.60. With or without a higher stock price, WeWork is in dire straits.

Persons: WeWork, Masayoshi Son's SoftBank, Andrew Ross Sorkin, Adam Neumann Organizations: New York Stock Exchange, SEC, NYSE

☆ WeWork shares sink after warning of bankruptcy risk
▼ + stars: | 2023-08-09 | by ( ) www.reuters.com time to read: +2 min

The WeWork logo is displayed on a screen during the company's IPO on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., October 21, 2021. REUTERS/Brendan McDermid/File photoAug 9 (Reuters) - WeWork (WE.N) on Tuesday warned of a possible bankruptcy after reporting yet another quarterly loss, in a stunning reversal of fortune for the shared workspace provider that was valued at $47 billion in 2019. WeWork said it may need to consider strategic options, including raising more money or obtaining relief under the U.S. Bankruptcy Code. WeWork eventually went public in 2021 through a SPAC (special purpose acquisition company) merger amid persistent doubts over its business model. WeWork burnt $646 million in cash in the first six months of 2023 and as of June end is left with $205 million in hand.

Persons: Brendan McDermid, WeWork, Adam Neumann, Neumann, Ananta Agarwal, Chavi Mehta, Shivansh, Abhijith, Anil D'Silva, Arun Koyyur Organizations: New York Stock Exchange, REUTERS, U.S, Thomson Locations: New York City, U.S, Bengaluru

☆ WeWork multitasked when it had just one job
▼ + stars: | 2023-08-09 | by ( Robert Cyran | ) www.reuters.com time to read: +3 min

NEW YORK, Aug 9 (Reuters Breakingviews) - WeWork (WE.N) took a decent idea and turned it into a ridiculous one. Occupancy declined and WeWork burned through another $300 million. WeWork agreed to take over loads of space when revenue was doubling each year and prices were far higher. Workspace-sharing providers can thrive again, too, if they remember that being cautious about puffing up their balance sheets is the main job. WeWork, valued at $47 billion in a private 2019 funding round, said in May it had completed a debt-for-equity recapitalization that eliminated $1.2 billion of debt.

Persons: Adam Neumann, Masayoshi Son, WeWork, Daniel Hurwitz, it’s, Sandeep Mathrani, Hurwitz, Jeffrey Goldfarb, Sharon Lam Organizations: Reuters, SoftBank, Video Communications, Thomson Locations: Swiss

☆ WeWork could head to the scrapyard of American dreams. There's a stark warning in there for AI.
▼ + stars: | 2023-08-09 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +4 min

WeWork's rise and fall offers a stark warning for the AI era. Companies racing for glory in the AI era would do well to learn from the over-exuberance in the WeWork saga. Since the launch of ChatGPT last year, private tech investors have abandoned their temporary pullback in startup investment to throw money at almost any company with AI in the name. ChatGPT's creator OpenAI has bagged billions of dollars from Microsoft, while venture capitalists announced $10.7 billion of generative AI startup deals in the first quarter of the year, per data firm Pitchbook. But equally, investors would be wise to learn from WeWork and look under the hood of any AI firm claiming it will fundamentally alter any market.

Persons: OpenAI, Adam Neumann, Jackal Pan, Getty Images Neumann, –, It's, Sam Hogan Organizations: Microsoft, Visual China, Getty Images Locations: American

☆ WeWork Has Sent a Distress Signal. Here’s What to Know.
▼ + stars: | 2023-08-09 | by ( Santul Nerkar | ) www.nytimes.com time to read: +1 min

WeWork, which promised to revolutionize the way people work alongside one another, announced in a financial filing on Tuesday that it had “substantial doubt” it would stay in business. That declaration raises questions about not only the company’s viability but also the future of commercial real estate. Here’s what you need to know about WeWork’s past and prospects. WeWork was founded in 2010 by Adam Neumann and Miguel McKelvey, tech entrepreneurs who used the funds from the sale of their previous co-working start-up, Green Desk. WeWork’s vision was to create a “physical social network” that would appeal to a new class of workers who were freelancing or working from home.

Persons: WeWork, Adam Neumann, Miguel McKelvey Organizations: Green

☆ WeWork says it has ‘substantial doubt’ about its ability to stay in business
▼ + stars: | 2023-08-08 | by ( Samantha Delouya | ) edition.cnn.com time to read: +2 min

“Substantial doubt exists” about WeWork’s ability to continue to stay in business, due to the company’s losses, projected cash needs, and increased member turnover, according to the company’s second quarter earnings release. WeWork management outlined a plan to improve the company’s financial health, saying that its ability to stay in business is “contingent upon successful execution” over the next 12 months. In the second quarter, the company reported a net loss of $397 million, an improvement compared to its net loss of $635 million in the second quarter last year. The company’s stock plunged more than 20% in after-hours trading on Tuesday. Overall, WeWork’s stock is down 85% since the start of this year.

Persons: David Tolley, WeWork, Adam Neumann, Sandeep Mathrani Organizations: CNN, Sycamore Partners

☆ From $40 billion to 'going concern' — WeWork warns of possible bankruptcy
▼ + stars: | 2023-08-08 | by ( Jordan Novet | ) www.cnbc.com time to read: +4 min

"Our losses and negative cash flows from operating activities raise substantial doubt about our ability to continue as a going concern," WeWork said in a filing with the SEC on Tuesday. The company had a net loss in the first half of the year of $700 million after losing $2.3 billion in 2022. WeWork said its revenue grew just 3.6% year over year in the second quarter and declined 4% in the U.S., where it gets 41% of its sales. In the second quarter, the company contributed $6 million of WeWork's revenue, down from $10 million in the second quarter of 2022, according to the filing. Key factors for whether WeWork can remain a going concern include limiting capital expenditures, increasing revenue and seeking capital through debt or equity issuance.

Persons: WeWork, Adam Neumann's, Masayoshi Son, Neumann, Daniel Hurwitz, Sandeep Mathrani, David Tolley Organizations: SEC, SoftBank, U.S, Intelsat, Apple Locations: Australia, Sydney, U.S

☆ Netflix stock sinks as Wall Street looks for clarity on revenue growth
▼ + stars: | 2023-07-20 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +3 min

"I think people expected a lot more revenue growth in the third quarter, plus there was the weakness in [average revenue per membership]," said analyst Michael Nathanson of MoffettNathanson. Netflix stock sank more than 9% Thursday after a quarterly earnings report that was largely positive, but left Wall Street underwhelmed and uncertain about key revenue drivers. Netflix's stock has risen on the rollout of ad-supported streaming and a new password sharing policy, which are both meant to boost revenue. "Most of our revenue growth this year is from growth in volume through new paid memberships, and that's largely driven by our paid sharing rollout," Neumann said. In a note following the earnings report, however, Cahall said "patience is a virtue," and called out investors that were "over-exuberant on paid sharing," noting revenue growth will take longer.

Persons: Michael Nathanson, Spencer Neumann, Neumann, Wells, Steven Cahall, Cahall, Greg Peters Organizations: MoffettNathanson, Netflix, Wall Street, Hollywood

☆ How Netflix can end the Hollywood strike in a way Disney, Paramount can't afford
▼ + stars: | 2023-07-20 | by ( Tim Mullaney | ) www.cnbc.com time to read: +10 min

"The strike is not something we wanted," said Sarandos, whose company is negotiating jointly with competing movie studios like Disney and Paramount whose parent companies also own streaming services. Some big-media companies that own streaming services, like Paramount and Disney, have seen their shares drop even in the renewed bull market of the past year. LightShed Partners analyst Rich Greenfield says Netflix made $6.5 billion last year excluding interest, taxes, and non-cash charges, while rival streaming services at Paramount, Disney and NBC lost more than $8 billion. That's a relatively small number for an industry with revenues topping $70 billion, $31.6 billion of it last year at Netflix. Paramount Global's Paramount+ service lost $1.8 billion last year, but saw losses shrink in the first quarter.

Persons: Mike Blake, Mark Mahaney, Ted Sarandos, Greg Peters, Michael Pachter, Robert Iger, Iger, CNBC's David Faber, Max, Rich Greenfield, Mahaney, hasn't, Jake Urbanski, Jamie Lumley, Peters, Spencer Neumann Organizations: Guild of America, Netflix, Alliance, Producers, Wednesday, Writers Guild of America, Screen, American Federation of Television, Radio Artists, Disney, Paramount Global, Amazon, Wedbush Securities, Television Producers, CNBC, Walt Disney Co, Sun, Paramount, Warner Bros, LightShed, NBC, Hollywood, Moody's Investors Service, Writers ' Guild of America, WGA, Twitter, Hulu, Comcast, Apple Locations: Los Angeles , California, U.S

LOS ANGELES, July 19 (Reuters) - Streaming video pioneer Netflix (NFLX.O) disappointed Wall Street on Wednesday with second-quarter revenue that fell short of analyst estimates, sending shares tumbling nearly 9% in after-hours trading. Netflix has been looking for new ways to make money as streaming competition intensifies and it nears market saturation in the United States. Its nearly 6 million subscriber additions outpaced the 1.9 million that Wall Street expected. Quarterly revenue climbed 2.7% from a year earlier to $8.2 billion, shy of analyst forecasts of $8.3 billion. Netflix said its advertising tier remained a small part of its membership base and that current ad revenue is not material.

Persons: we’ve, Craig Huber, Huber, We've, Spencer Neumann, Jeffrey Wlodarczak, Ted Sarandos, Sarandos, Lisa Richwine, Dawn Chmielewski, Yuvraj Malik, Deepa Babington, Chris Reese Organizations: Netflix, Refinitiv, Huber Research Partners, Research, Thomson Locations: ANGELES, United States, Los Angeles, Bengaluru

☆ Netflix gets rid of cheapest basic ad-free option in the U.S., U.K.
▼ + stars: | 2023-07-19 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +2 min

Netflix has gotten rid of its cheapest commercial-free plan in the U.S. and the U.K., in a push to get more sign-ups for its recently launched ad-supported option. The move leaves Netflix's standard with ads plan, which is priced at $6.99 a month, as its cheapest option. During last quarter's earnings call, Netflix Chief Financial Officer Spencer Neumann said the "economics" of its ad-supported plan were higher than the basic plan. "It's actually even higher than our standard plan," he said during the call, adding that advertising was incremental to both its revenue and profit. Similarly, Disney CEO Bob Iger has said the company is leaning into its ad-supported streaming option to get to profitability.

Persons: Spencer Neumann, It's, Reed Hastings, Ted Sarandos, Bob Iger Organizations: Netflix, Disney Locations: Krakow, Poland, U.S

☆ Inside Netflix's growing M&A machine, who's leading it, and what insiders think the streamer could buy next
▼ + stars: | 2023-06-21 | by ( Lucia Moses | ) www.businessinsider.com time to read: +9 min

It then delved further into M&A to kickstart its games business. And the streamer hasn't completely abandoned its build-from-within strategy, as it also announced plans last fall to build its own gaming studio in Finland. He recently was elevated to the Lstaff, a group of 25 Netflix business heads who debate its biggest initiatives. (Netflix ended up doing a partnership in 2019 with that company, Studio Dragon, and its parent CJ ENM.) But leadership has been steadfast that Netflix's M&A mantra hasn't changed.

Persons: Here's, Reed Hastings, It's, it's, who's, what's, Roald Dahl, Dahl, Peter Rabbit, Spry, Harry Potter, execs, Spencer Wang, Michael Porter, Spencer Neumann, who'd, Neumann, Wang, Greg Peters, Ted Sarandos, Bela Bajaria, Scott Stuber, Mike Verdu, Jay MacDonald, Digiday, Ana Milicevic, Hastings, Sarandos, CJ ENM, Mario Organizations: Netflix, stoke, Paramount, Night School, Spry Fox, Disney, Warner Bros, DC Comics, Digital Capital Advisors, MLB, Surf League, Street Journal, Microsoft, Sparrow Advisers, MGM, Amazon, Mario Bros, Activision Blizzard, Epic Games, UBS Locations: Finland, New Jersey, Hollywood

Search resuls for: "Neumann"

25 mentions found