Carlyle Group backed Assala Energy announced March 24th they would be acquiring Royal Dutch Shell’s onshore assets in Gabon, Africa for $587 million. Shell has recently sold its North Sea assets to private equity-backed Chrysaor for $3.8 billion. These sell offs have been steps in Shell’s $30 billion disposal program, which was started after the $54 billion merger with BG Group.
AIRBNB: PUBLIC OR PRIVATE?
Airbnb, the tech start-up we all know for its impressive growth, is now valued at $31 billion. From the small platform that provided a service for people with/ looking for a place to stay, Airbnb has established itself as an international presence in offering hospitality services. After its Series F financing round that closed on March 9th, Airbnb reported that it had received more than $1 billion from investors such as Google Capital and Technology Crossover Ventures.
PANDORA CONSIDERS TURNING TOWARD PE
Believe it or not, your $9.99 Spotify subscription puts you significantly in the minority when it comes to music subscription services. As of last year, only 18% of Americans surveyed use Spotify at all (7% premium), as compared to the 30% who use Pandora and 27% who use YouTube. And yet, with the streaming industry paying so much of their revenue to artists, it is worth questioning how much longer these companies can survive without a profit.
EMAIL “BLOOPER” PAINTS MORE HOSTILE PICTURE
Akzo Nobel N.V. is a Dutch multinational company that specializes in producing paints, performance coatings, specialty chemicals, and essential ingredients for industrial protection materials. Its U.S. Rival, PPG Industries is a Fortune 500 global supplier of paints, coatings, specialty materials, and fiberglass headquartered in Pittsburgh, Pennsylvania.