The vote confirmed an earlier agreement among EU institutions. The reform passed by an overwhelming majority in the European Parliament on Tuesday, the first of its kind anywhere in the world, potentially strengthens the EU's role as a global standard-setter on telephone technology. (Reuters/Stephen Lam)Īpple will have to change the charger for its iPhones in the European Union from autumn 2024 to comply with new rules introducing a single charging port for most electronic devices. Including consideration for Poshmark's cash, Naver's total investment is $1.6 billion, a Naver spokesperson said.ĪirPower wireless charger along with other products during an Apple launch event in Cupertino, Calif., Sept. The enterprise value of Poshmark is about $1.2 billion. market in online fashion "re-commerce" is expected to grow by 20% annually to $130 billion by 2025. With Millennials and Gen Zers leaning toward value-driven consumption such as environmental protection, and with inflation squeezing wallets, Naver and Poshmark seek to lead "re-commerce" or consumer-driven resale - expected to be the next global trend after convenient e-commerce, or fast fashion, Naver CEO Choi Soo-Yeon told Reuters.Īccording to Activate Consulting, the $80 billion U.S. Poshmark is the largest fashion consumer-to-consumer platform in North America, with 80 million registered users led by Millennial and Gen Z active users, Naver executives said in a conference call on Tuesday. Naver, which is also South Korea's top search engine, will pay $17.90 cash for each Poshmark share and acquire all of its outstanding stock in a foray into the U.S. fashion resale platform Poshmark Inc but investors questioned the timing of its biggest acquisition amid a slowing economy and sent its shares tumbling. South Korean e-commerce company Naver Corp announced a $1.2 billion purchase of U.S. It's doubtful that Apple will just ignore this move.Poshmark logo during the company's IPO at the Nasdaq Market Site in Times Square in New York City, Jan. Spotify is only letting users purchase audiobooks from a web browser. This circumvents Apple's hefty take rate for purchases made from within an iOS app. Speaking of audiobook downloads, we can't forget about Apple. But it will still be interesting to see how Amazon responds. Spotify's audiobooks are purchased individually, so this may attract different sets of users.
However, it also creates new competitive challenges against top technology companies, including Amazon and Apple.įor Amazon, it offers an audiobook subscription service, and its Audible platform dominates the market. Therefore, this does provide the company with a new growth opportunity. Management is excited because the audiobook industry is growing 20% annually.
Looking ahead to how it can gain and retain new users, Spotify launched audiobooks in the U.S. All of this said, it seems like Spotify stock was down in September mostly because the market had a rough month.
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