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French music-streaming service Deezer plans IPO

French music-streaming service Deezer said on Tuesday it plans to launch a public share offering on the Paris stock exchange in a bid to consolidate its position in the on-line music market.

French music-streaming service Deezer plans IPO
The music-streaming market is set to become the main means of music distribution says Deezer CEO Hans-Holger Albrecht. Photo: AFP

“Entering the stock market is an important step for Deezer at a decisive time for the music industry,” the company said in a statement.

“The music-streaming market, still young, is growing faster now and set to become the main means of music distribution,” CEO Hans-Holger Albrecht said.

SEE ALSO: Inside Spain's tech startup world: seven key facts

Operations director Simon Baldeyrou told news agency AFP the move would give Deezer access to “a more diversified and more international base”.

“It will also give the company greater visibility,” he said.

Founded in 2007, the young company raised its last private funding of €100 million ($111.7 million) from Russian-American billionaire Len Blavatnik in 2012.

With six million subscribers and 16 million individual users each month, Deezer needs to speed up its development especially on the international level where the competition is fierce in music streaming.

Its main rival, Sweden's Spotify, claims 75 million users of whom 20 million subscribe to its paying version and is valued at more than $8 billion.

Competitive heat is also being felt from US giant Apple which launched its music-streaming service on June 30.

Deezer in 2014 reported a 53 percent jump in revenue to €142 million.

BEACH

French firm’s new ‘smart bikini’ to stop sun burn

A French company has made waves in France after it invented a bikini that can tell sunbathers when they need to reapply sun cream.

French firm's new 'smart bikini' to stop sun burn
Wearers of the new bikini will hopefully never get sunburned again. Photo: Spinali Design
The bikini, which was itself a French creation, has officially been reinvented – and just in time for summer.
 
A French start-up has come up with what they call the “bikini connecté” (The Connected Bikini). The swimwear features a removable and waterproof UV sensor that measures exactly when sun cream should be applied or re-applied.
 
By recording the temperature and correlating it with the additional inputs from the user about their skin type, the bikini literally sends a message to the user's smartphone before any sun damage is done.
 
The company behind the product, Spinali Design, launched the bikini in May and has begun rolling out the swimwear this week.
 
 
Marie Spinali, the founder of the company, told French newspaper L'Express that the idea came to her, perhaps unsurprisingly, after she witnessed someone getting sunburned at a beach.
 
“I was wondering why she didn't react, why she didn't put on some sun cream or get into the shade,” she said.
 
The swimwear, which is currently only available for women, are on sale from €149.
 
In case you're wondering where the ten best beaches in France are to wear this bikini, click here