Friday, May 20, 2022

Hashtag Trending – WeWork layoffs hit Meetup; Uber profitable in 2021?; Spotify for kids

Layoffs at WeWork hit Meetup; Could Uber be profitable by 2021?; Spotify launching kids service

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The chaos unfolding at WeWork has come with the expected layoffs. And now those layoffs have hit WeWorks subsidiary MeetUp, and it is trending on LinkedIn. MeetUp, which is a global platform that facilitates in person meetings that was purchased by WeWork in 2017 for $200 million, laid off 25% of its staff, mainly in its engineering department. It is expected that cost cutting moves at WeWork’s subsidiaries will continue, and it is possible they will look to sell MeetUp.

While WeWork’s IPO journey just about led to its own destruction, Uber’s own path to profitability is almost as murky. But Uber’s chief executive, Dana Khosrowshahi, stated that they have a path planned that he believes will lead the company to profitability, and it is trending on LinkedIn. Despite reporting more losses in its third-quarter report, and about 1,000 layoffs since last May, Khosrowshahi said he believes the goal of profitability could be reached by 2021.

And last up, Spotify is looking to corner the kids music market, and it is trending on LinkedIn. Dubbed Spotify Kids, it is currently running a beta test in Ireland. According to Spotify’s CPBO, the app will be a “playground of sound” for kids aged three and under, and will include singalongs, lullabies and soundtracks, all which will be filtered and curated by Spotify editors.

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Jim Love, Chief Content Officer, IT World Canada
Buckley Smith
Buckley Smithhttps://www.itbusiness.ca
Staff writer for IT World Canada. Covering the world of technology as it applies to business. Buckley is an avid sports fan who loves travel, food, and music. Can be contacted at bsmith@itwc.ca or 416-290-2000.

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