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Investors love Bumble, and a folding phone
Good morning everyone, and welcome to a much deserved Friday! Get ready to crush the last day of the work week!
0:05- Bumble Buzzes
Bumble, the popular dating app, went public today on the NYSE under the ticker $BMBL, and their bee logo couldn’t have bee-n more on the money. Before the stock even began trading, the price buzzed more than 70% up, moving up to an opening price of $76, compared to the initial offering of $43. This IPO allowed Bumble to raise $2.2Bn at a valuation of more than $8bn, a number in line for a company with 40M MAU.
Yesterday the process of distributing more than one million doses to 6,500 pharmacies in all 50 states began, creating a new landmark for the US, who has struggled with allocating the vaccine properly. Two of the largest chains receiving vaccines, Walmart and CVS, have stated that they created plans on how to distribute any vaccine doses that are left unused (as once they are taken out of cold storage they only have hours before they expire). Currently the plan is to vaccinate their own staffs first, and then either move onto a customer waitlist or first come, first serve.
The Microsoft Surface Duo, a folding phone originally priced at $1399 is now only $999. What a steal! This price cut aligns with the launch of the device in the UK, France, Canada, and Germany in the coming weeks, a staggering five months after it was first available in the United States.
If you’ve been joining us every day, you’ll remember that Australia is currently trying to make tech companies such as Google and Facebook pay news sites for their content (something that they naturally disagree with). Well, yesterday Microsoft stepped into the ring and suggested that the United States follow suit, proclaiming that the law would “strengthen democracy.”
1:25- Music to young ears
A recent study conducted by neurologists has found that musical training as a child is directly related to increased performance in complex cognitive tasks. Maybe learning how to play the recorder in 3rd grade wasn’t worthless after all.
Have a great rest of your day, and we’ll see you tomorrow bright and early!
-The 90 Second News Team
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