1. Tencent Music just IPO'd and it sounds fantastic
Easy, Gaga... A new star hath been born. Tencent Music's the Chinese mashup of streaming song apps that just IPO'd on the New York Stock Exchange. It was supposed to take the stage last summer, but the Trade War delayed the album release. Then shares jumped 8% Wednesday on its debut.
Adele's not just a singer... And Tencent Music's not just an app. The 800M users generated over $300M in revenues so far this year because the streamer's more talented that only streaming:
- Karaoke: Its top app is WeSing, which is basically an Instagram video of your mediocre "Shape of You" attempt
- Strategic Partnerships: Spotify's not just a competitor. It's an investor. Tencent Music and Spotify exchanged shares of each other with each other to learn from each other. Meta.
The Takeaway: 2018, it's been un-real... This year's had the largest number of IPOs (227) and largest amount raised ($60.4B raised) in 4 years. Pressure's on 2019 to top that with Lyft, Uber, Airbnb, Pinterest, Palantir, and more tech warming up. Mic drop.