Recommended Reading: May 2, 2017 - eMarketer
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Recommended Reading: May 2, 2017

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

May 2, 2017

The New York Times Spotlights Audio at NewFront

The New York Times kicked of its NewFront on Monday with a live rendition of its “The Daily” podcast, featuring host Michael Barbaro and executive producer of audio Lisa Tobin, as well as White House correspondent Maggie Haberman. The publisher said The Daily has reached 25 million users, and that the podcast will be expanding to weekend editions. At the NewFront, the New York Times also said it had teamed up with Spotfiy to include The Daily on the platform.

India’s Ride-Sharing Service Ola Reports Losses

Ola, India’s most popular ride-hailing service, is racking up losses as it burns through cash by discounting rides, paying employees and spending on marketing. According to regulatory documents, Ola recorded a loss of INR23.1 billion ($343.9 million) for fiscal year 2015-2016. The company also reported that its revenues had increased sevenfold to INR7.6 billion ($113.1 million) over that timeframe. Ola faces perhaps its biggest challenge in Uber’s India operation, which has pledged to invest $1 billion in the country.

Tencent Drops $13 Million on Payments Service Airwallex

Tencent, parent company to WeChat, has aggressively moved to expand into the digital payments sector in markets outside of China.

Yik Yak to Shut Down

Anonymous location-based messaging app Yik Yak will be shutting down, co-founders Tyler Droll and Brooks Buffington wrote in a blog post. Last week, payments company Square acquired some of Yik Yak’s engineering team for $1 million.

—Rahul Chadha, Rimma Kats

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