Recommended Reading: June 27, 2017 - eMarketer
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Recommended Reading: June 27, 2017

eMarketer’s scan of the key developments of the day, plus data to make sense of it all

June 27, 2017

Pandora CEO Plans to Step Down

Tim Westergren, co-founder and CEO of online radio company Pandora, is planning to step down, according to Re/code. Westergren will reportedly stay on as CEO until a new hire is in place.

Bezos Holds Fast to India Investments

Amazon CEO Jeff Bezos said in a tweet that he was “excited to keep investing and growing” in India in the face of significant investment from rivals in the country. Bezos’ comment followed a meeting with India’s Prime Minister Narendra Modi; Amazon had previously pledged to invest a total of $5 billion in India over the next few years. In recent months, competitors like Paytm and Flipkart have received billions in additional investment for ecommerce in India.

Apple working with Hertz

According to a report from Bloomberg, Apple is leasing a small fleet of cars from Hertz to test self-driving car technology. The partnership is similar to the one Alphabet has with Avis.

China-Based Logistics Firm Best Files $1 Billion IPO

Best Logistics, a China-based firm that’s partially owned by Alibaba, has filed for a $1 billion initial public offering (IPO) in New York. Best Logistics—or Best Inc., as it will be known in the US—was valued at $3 billion in a funding round that took place last year. The company is planning to use the new funds to bolster its expansion efforts. Logistics companies delivered some 31 billion in parcels in 2016.

—eMarketer editors

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