Super Mommy! 🤱
Alibaba makes a comeback, Uber could get a big partnership, Google & Spotify make a deal, and Match launches Stir!
A VERY HEARTY & HAPPY MOTHERS’ DAY to our Moms & Moms-to-be!!!!
It cannot be easy, what you do - and we are sooo grateful for you!
We are dedicating all gifs today to moms & moms-to-be 😄😄
A lot of days have given rise to plenty of gains and good news from places you might not expect (Stares at China 👀🇨🇳). That being said, let’s dive into the week’s agenda!
Alibaba’s Stock is making a Comeback!!
Alibaba’s Hong Kong-listed stock closed more than 11% on Tuesday after the Chinese e-commerce giant said it would increase the size of its share buyback program from $15 billion to $25 billion. 🤑
The share repurchase scheme will be effective for a two-year period through March 2024, the company said. By the way, share repurchase schemes or share buybacks happen when a company buys back its own shares from the public. Oftentimes, this is typically considered a positive move.💡
Alibaba (BABA) holder's now:
“Alibaba’s stock price does not fairly reflect the company’s value given our robust financial health and expansion plans,” the company’s Deputy Chief Financial Officer Toby Xu said. We agree too, it looks like it gets "the china treatment" 🤷♂️. Not Financial Advice btw
Alibaba has bought back about 56.2 million shares worth about $9.2 billion, under the previously announced buyback program. A little bird told me to tell you that all BABA shares you need are available on the Trove App. Just saying.. 😏
Google and Spotify Shake Hands! 🤝
Google and Spotify said that a future version of the Spotify app will allow users to sign up inside the app to pay Spotify directly for a subscription. Spotify’s alternative billing system will be offered in addition to Google Play payments, the companies said.
Why does it matter, you might ask?
The move is the most significant concession so far from a major mobile app store to allow third-party billing systems inside apps, which has become a major focus for regulators around the world. It also puts pressure on Apple, which is firmly against third-party billing on its iPhone App Store. If you didn't now, now you know! 💡
Shares of Spotify popped about 4.5% in after-hours trading upon the news making waves. *Opens the Spotify app to play music so the stock stays vibing!* 🔊
“This pilot will allow a small number of participating developers to offer an additional billing option next to Google Play’s billing system and is designed to help us explore ways to offer this choice to users while maintaining our ability to invest in the ecosystem,” Google said.
In English, Google says "they'd take money from our pockets but we gotta let them because half bread is better than none"
Google, after making that statement:
Could this be Uber's Big Break?
Whoop!!! Uber is making moves, big moves for that matter.
It looks like the long battle between Uber and city taxis is coming to an end, ok well maybe not globally. Uber will be listing New York City taxis on its ride-hailing app. This has been a long fought battle, dawg!
In a deal, under the agreement, taxi drivers who use Creative Mobile Technologies’ system to process customer payments will be featured on Uber’s app.
The two companies enable credit-card payments in taxis and run the screens that display the weather, news and ads to riders. Uber said its drivers typically earn more and Cab Drivers who agree to take Uber passengers will be paid the same way. Unlike Uber drivers in New York, taxi drivers will see expected earnings before a trip and will be able to decline rides they don’t think are worth their while, Uber said🤔 Rather Interesting, I gotta say.
Uber’s shares rose 5% to $34.70 on Thursday.
By 2025, Uber wants to list every taxi in the world on its app. “It’s certainly ambitious,” said Mr. Macdonald, but “I certainly think it’s possible.”
Camera. Lights. Action! We shall see!
Match Group Launches Stir!
Everyone deserves love right?
Well, Match Group thinks so too. Which is why they’ve come up with a dating app to serve an often neglected segment of people - Single parents.
Single parents be like:
Match launched an app on Monday called Stir which is meant to serve the 20 million single-parent population currently existing in the United States.
On a special day like this, we gotta say:
Single Dad showing up to a date like:
The app matches parents by letting them display their “me time” which is the time away from their kids and other obligations to enable them to coordinate dates with possible matches.
I know you may be wondering, “what even is the Match Group?”
Match Group is the name behind really popular dating apps such as Tinder and Hinge. But in recent times, they’ve begun to create apps for underserved segments of the population when it comes to dating. They’ve recently created apps like “Our Time” for people over 50 and “Hawaya” for Muslim singles.
Their wide variety of apps will allow them to get to users who may not exactly feel comfortable with other apps.
Expanding their customer base is also great for their bottom line and share value.
But that’s just Tomi’s opinion oh 🤷🏾♂️
What do you guys think ?
What are you waiting for?!?!
Forget not this ministry of yours: You’ve got 5 FREE SHARES WAITING FOR YOU if you tell a friend to tell a friend to:
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“Believe you can and you’re halfway there.” – Theodore Roosevelt.
This week, the world is yours! Go get it & make Tomi proud!
Give moms a kiss today!!!
Your dearest and favourite Stocks Market Gist Partner,
Tomi, From Trove 🖤
XOXO