The year is gradually coming to a close and with a new year in focus, Investing Port will be looking at some innovative companies of the past decade and how they have performed. In this article, we would be looking at some companies including Uber, Lyft, Peloton, Spotify, and Slack.
Uber and Lyft are both ride-sharing companies and strong competitors. Both ride-hailing companies have simplified the way people travel over time. These ridesharing mobile apps connect riders with drivers with just a couple of clicks and they charge the rider’s credit card automatically after each ride. No cash or currency is exchanged in the vehicle. Both companies offer a more convenient and affordable way to get around than a traditional taxi cab. As a Plus, they offer ways for drivers to earn some extra money on the side while driving their own vehicles. Both business models are very simple. They connect riders with drivers and take a percentage of all transactions.
Peloton (NASDAQ: PTON)
Peloton (NASDAQ: PTON) is an American exercise equipment and media company that was founded in 2012 and launched in 2013 with the help of a kick-starter funding campaign. The company which is based in New York has its main product is a stationary bicycle which allows users to participate remotely in spinning classes that are streamed from the company's fitness studio. These remote live classes are paid for through a monthly subscription service. The company was founded by Graham Stanton, Hisao Kushi, John Foley, Tom Cortese and Yong Feng. William J. Lynch Jr. joined the Peloton group as the company's president in 2017. The company announced plans in May 2018 to expand into Canada and the United Kingdom at the end of the same year. The company has 2 studios, 37 retail outlets and over 400 employees.
Spotify (NYSE: SPOT)
Spotify Technology S.A. (NYSE: SPOT) is an international media services provider. The company has a Swedish origin, legally domiciled in Luxembourg, and has its headquarters in Stockholm, Sweden. Having being founded in 2006 and launched in 2008, the company has continued to excel in providing an audio streamlining platform which offers DRM-protected music, videos and podcasts from record labels and media companies. The company generated a total revenue of 5.259 billion pounds in 2018, and currently has about 248 million users (out of which 113 million are paid subscribers) under the current CEO, Daniel Ek.
Slack (NYSE: WORK)
Slack Technologies Inc. (NYSE: WORK), dealers in software, currently have more corporate users for its workplace-collaboration software since its establishment till date. Slack said a number of big companies have already embraced its messaging platform. Slack is a strong competitor of Microsoft's messaging platform, Teams. Recently, Slack disclosed that it has more than 50 clients that individually generate more than $1 million in annual revenue and 821 customers with more than $100,000 in annual revenue. Slack currently has 12 million Daily Active Users (DAUs) on its platform, and also suggested that its user base is more engaged than those on its biggest rival, Microsoft Teams. Among its paid customers, Slack has users that spend more than 9 hours a day connected to its service, including spending around 90 minutes per day actively using the platform
Disclaimer: Investingport Fund owns Slack, Uber and Lyft.