mm hmm.
Hello everyone. This is your daily tech and business briefing from cheddar news.
Spotify shares taking a nosedive that after
providing some weak guidance going forward.
The disappointing news overshadow better than expected
earnings numbers for Spotify is fourth quarter,
the music streaming platform met expectations in regards to user growth.
But they're forecasting a rough start to the year.
Spotify says they're forecasting 418 million active users and
100 and 83 premium subscribers for the year.
Meanwhile,
facebook co founder Mark Zuckerberg saw his net worth fall by
nearly $30 billion that following metas market collapse on thursday,
that's the second largest single day drop in history following the
largest single day plunge in medicine history since they went public,
The company lost over 200 billion in market cap.
Zuckerberg currently owns 13% of meta shares
and it might be a little harder to find
those valentine's Day sweets for your partner this year.
That's because her,
she is saying that they're running low on valentine's day candy.
This is,
they suffer from a labor shortage and factory capacity and
they're not the only one struggling to spread the love.
Mandalay's the company that makes Oreos also low on inventory
that after enduring a strike among their unionized workers last year
and that's your chatter news business and tech update.
I'm baker Machado coming to you from cheddar studios in lower Manhattan