An international blockchain association is formed, Spotify confirms date for public listing, while Snapchat is in trouble with the celebrities again

Walmart in discussion to purchase Flipkart for US$7B – Bloomberg

US retail giant Walmart is in discussion to purchase a majority stake in Indian e-commerce company Flipkart for US$7 billion, according to an anonymous source.

Walmart is set to buy a third of Flipkart in part by purchasing stakes from Tiger Global Management and SoftBank Group. The deal may push the startup’s valuation from US$12 billion to about US$20 million, and is expected to be finalised by this month.

The deal is seen as a move that will put Walmart in competition with Amazon in India, which is dubbed as “one of the most promising online retail markets.”

International Blockchain Association launched – Press Release

The International Blockchain Association (IBA), which is described as the first international self-regulating body for the blockchain industry, is being launched today in London.

The association aims to enhance the industry’s integrity; engage and collaborate with governments and regulators; and promote trust and transparency among its members.

Membership will be available for “all industry participants” and will be divided into three types.

Also Read: Indian e-commerce firm Flipkart acquires mobile phone repair startup F1 Info Solutions

Spotify to start trading publicly on April 3 – CNBC

Music streaming platform Spotify is set to start trading on New York Stock Exchange (NYSE) on April 3 and will provide full-year financial guidance on March 26, the company announced on Thursday ahead of its non-traditional public listing.

The company is expected to forgo IPO traditions such as underwriters and a lock-up period; it will list under the ticker name SPOT.

Spotify founder Daniel Ek said that the company will focus on upgrading free users to premium subscribers, reaching scale on many platforms (especially smartphones, speakers and cars), and personalised data from users in the future.

It had an operating loss of US$461.3 million last year and revenue of US$4.99 billion.

Snapchat stocks drop following domestic violence content controversy – TIME

Snapchat stocks dropped by nearly five per cent on Thursday after singer Rihanna slammed the platform on Instagram for running an ad that made fun of the domestic violence case that happened to her in 2009.

The company has deleted the ad and issued a statement of apology but the content has received “vocal backlash” on social media, including from public figures such as Chelsea Clinton.

Previously, Snapchat had also experienced a drop in its stocks price after celebrity Kylie Jenner tweeted about no longer using the platform.

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