SUMMARY:
In the article, “Jay Z Buys the Music Streaming Firm, Aspiro,” Jay-Z bought an online streaming company for 56 million dollars. The company is a Swedish technology company named Aspiro. Aspiro announced that Jay-Z “had acquired enough of Aspiro’s shares to take over the company. Aspiro, which is publicly traded in Sweden, operates subscription streaming services under the brands WiMP and Tidal, which entered the United States market last fall.” Shawn Carter, also known as Jay-Z, “made his offer for Aspiro in late January through an entity he controls, Project Panther Bidco. ” Aspiro shareholders had until Wednesday, March 11th to consider Jay-Z’s offer. In order for the offer to be approved, he had to have “90 percent approval for for Project Panther to take it over.” Aspiro is a small online music company that has been slowly growing over the past couple of years and based off of consumers’ interests, have worked to improve sound quality.
ANALYSIS:
I was very surprised that Jay-Z bought an online streaming company named Aspiro. I was mainly surprised because Aspiro faces many successful competitors in its field. Therefore, I disagree with Jay-Z’s investment and believe he should have invested in a more successful company like Spotify or Apple’s itunes because I feel that Aspiro will be run out of business but its strong competitors.
DISCUSSION QUESTIONS:
Do you think this company will do as well as Apple and Spotify?
Do you think that the idea of Jay-Z owning a company like this people will invest in it or start to use it over companies like Apple and Spotify?
LINK TO ARTICLE:
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