We’re All In This Together

Catch up with this week’s Five on Friday!

Jamie O’Donoghue
Aug 9, 2019 · 6 min read
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#FromFacebook

Facebook revealed this week that it will attach its name to a pair of its top-performing subsidiary apps, Instagram and WhatsApp.

#BeyondSubway

Struggling sandwich chain Subway has looked to a new savior in the form of Beyond Meat to help them pull together for a comeback.

#MergerDelivered

Food delivery services Just Eat and Takeaway.com agreed terms for a merger this week as they seek to compete with rival UberEats.

#EarningsOverview

We’re now in the business end of earnings season, with another spate of companies reporting earnings over the past few days. To help you get up to speed, sit back, relax, and enjoy ‘The Earnings Overview’:

The Good

MercadoLibre — Thanks to strong sales growth in the key markets of Mexico and Brazil, the Latin American e-commerce giant beat the Street on its top and bottom lines.

The (Not So) Bad

Evolent Health — The company missed on earnings and revenue but company shares jumped on the news that its healthcare platform saw a 14% user increase.

The Ugly

Monster Beverage — Earnings and revenue lagged behind estimates as the energy drink manufacturer felt pressure from industry rivals big and small.

#AndFinally

A Snoop Dogg (yes, Snoop Dogg) backed company has just become Europe’s most valuable fintech start-up. The Swedish firm, Klarna, offers consumers a “buy now, pay later” service and was valued on Tuesday at $5.5 billion. The firm stated that they would be using these new funds to continue its expansion into the highly competitive U.S. market. Klarna offers customers a chance to pay for products in increments, by buying an item themselves and invoicing the customer, interest-free. On Tuesday, the company announced from their Stockholm HQ that they were in sight of $1 billion annual revenue and growing in North America. They announced their partnership with Snoop Dogg earlier this year, with the legendary artist becoming an investor as well as featuring in their marketing campaign. CEO Sebastian Siemiatkowski recently said he thinks the firm has matured to a level where it could launch an initial public offering, so it will be interesting to see how things develop at the back-end of the year.

The Week In Numbers

200

Walgreens stores are set to be closed as the pharmacy store chain feels the heat from the ‘retail apocalypse.’

$200 million

is how much Netflix paid this week to poach Game of Thrones creators David Benioff and DB Weiss from HBO.

$162 billion

is how much money Big Tech lost in value during Monday’s market plunge.

The Takeaway

“Teamwork” seems to be a common theme in this week’s news. The coincidentally-named Takeaway.com merger with Just Eat really typifies the phrase “the enemy of my enemy is my friend” as the two join forces to take on Uber Eats. Subway and Beyond Meat also look to help each other out through teamwork, as Subway gains a more diversified audience, while Beyond gains another high profile customer. Even Snoop Dogg and Klarna have banded together to make the company Europe’s most valuable startup. Facebook has taken a slightly different approach to the teamwork method though, by deciding to “work” with its subsidiaries, Instagram and WhatsApp, by showing the world who owns them! (Ok, maybe this one was a bit of a stretch).

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