Consumer Brands Are Getting Squeezed by China Tensions. Millions of Americans now qualify for policies at less than $50 a month: federal data. Likewise, the acquisition will make it easier for brands and agencies to buy premium CTV inventory at scale with standard features and a single, addressable pool of audiences. Half-a-dozen companies announced unicorn-level capital raises earlier this week. SpotX total preliminary non-GAAP net revenue (1)(2) for 2020 was $116 million, ... for a total of $1.17 billion based on the closing price of Magnite stock as of February 4, 2021 But in the year since, Magnite’s stock price soared, going up 600% in a single year. Our management uses Adjusted EBITDA in conjunction with GAAP financial measures for planning purposes, including the preparation of our annual operating budget, as a measure of performance and the effectiveness of our business strategies, and in communications with our board of directors concerning our performance. (BLK)’s plan to double the number of sustainable exchange-traded funds it offers to 150 by the end of this year is on track, thanks in part to two new mammoth ETFs. According to Chinese news outlet 36kr, using a small team of less than 10 engineers, the Chinese EV maker is developing its own autonomous driving chip. The purchase price consists of €468 million in cash and 14.0 million shares of Magnite stock. In addition to our GAAP results, we review certain non-GAAP financial measures to help us evaluate our business, measure our performance, identify trends affecting our business, establish budgets, measure the effectiveness of investments in our technology and development and sales and marketing, and assess our operational efficiencies. To round things out we can also derive a price based on its historical price-to-sales. Many U.S. banks have broken out above 2018 resistance in reaction to rising interest rates. And the central bank is said to be leading discussions around establishing a joint venture with local technology giants to oversee the lucrative data they collect from hundreds of millions of consumers, which would be a significant escalation in regulators’ attempts to tighten their grip over the country’s internet sector.“The high fine puts the regulator in the media spotlight and sends a strong signal to the tech sector that such types of exclusionary conduct will no longer be tolerated,” said Angela Zhang, author of “Chinese Antitrust Exceptionalism” and director of the Centre for Chinese Law at the University of Hong Kong. Mark Hake writes about personal finance on mrhake.medium.com and runs the Total Yield Value Guide which you can review here. Magnite (Nasdaq: MGNI) — the largest independent sell-side advertising platform – recently announced it has entered into a definitive agreement to acquire SpotX from RTL Group for $1.17 billion in cash and stock. 1 month ago - CNBC Magnite Set To Acquire SpotX In $1.17B Deal To Create Largest Independent Video Advertising Platform Moreover, management said on the fourth-quarter 2020 conference call that cash flow from operations should cover the dividend payments this year. XPeng to Produce Its Own Chips; Analyst Weighs In. Analysts predict sales of $245.5 billion for 2021, so the price target works out to $306.875 billion. More From InvestorPlace Why Everyone Is Investing in 5G All WRONG It doesn’t matter if you have $500 in savings or $5 million. Purchase price consists of $560 million in cash and 14 million shares of Magnite stock, for a total of $1.17 billion based on the closing price of Magnite stock as of February 4, 2021. What To Do With XOM Stock Most analysts have higher price targets for Exxon stock, but not by much. Therefore, at today’s price (April 9) of $55.87, the dividend yield is very healthy at 6.2%. Max out your 401(k) each year, and be sure to get your 401(k) employer match, if you have one. ", "As CTV flourishes and the media industry continues to turn to programmatic, there is a huge opportunity for an independent scaled company to offer the single most comprehensive technology in the market," said Mike Shehan, Co-Founder and CEO at SpotX. Gibson Dunn provided legal counsel to Magnite. Beijing regulators wrapped up their landmark probe in just four months, compared with the years that such investigations take in the U.S. or Europe. The estimates can vary depending on which aggregation service is used. Do this now. The president is being urged to roll more direct aid money into his infrastructure bill. Source: Harry Green / Shutterstock.com For the past two years (8 quarters) Exxon has paid 87 cents per share in quarterly dividends. So, on the one hand, this is much lower than my price target using historical metrics. Existing backers, including private equity giant Silver Lake Management, Owl Ventures and T Rowe Price, are investing about $100 million each in the funding round, which is yet to close, said the person, who did not want to be identified because discussions are confidential.The startup remains in discussions to close the round with a further $200 to $300 million in the coming weeks at a slightly higher valuation, the person said.The large investment into Byju’s comes as fundraising by Indian startups reaches a feverish pitch. Magnite plans to finance the transaction with cash on hand, 14 million shares issued to RTL Group and committed financing from Goldman Sachs. SpotX total preliminary non-GAAP net revenue (1)(2) for 2020 was $116 million, of which $67 million was CTV ; Purchase price consists of $560 million in cash and 14 million shares of Magnite stock, for a total of $1.17 billion based on the closing price of Magnite stock as of February 4, 2021 RECONCILIATION OF REVENUE TO PRO FORMA NON-GAAP NET REVENUE, Less amounts paid to sellers reflected in cost of revenue, RECONCILIATION OF NET LOSS TO ADJUSTED EBITDA, Depreciation and amortization expense, excluding amortization of acquired intangible assets, Non-operational real estate expense (income), net, View source version on businesswire.com: https://www.businesswire.com/news/home/20210204006217/en/, Investor Relations Nick Kormeluk949-500-0003nkormeluk@magnite.com, Media Relations Charlstie Veith516-300-3569cveith@magnite.com. Durch Klicken auf "Alle akzeptieren" stimmen Sie zu, dass Verizon Media und unsere Partner Informationen durch die Nutzung von Cookies und ähnlichen Technologien auf Ihrem Gerät speichern und/oder darauf zugreifen und Ihre personenbezogenen Daten verarbeiten, um personalisierte Werbung und Inhalte anzuzeigen, für die Messungen von Werbung und Inhalten, für Informationen zu Zielgruppen und zur Produktentwicklung. Although Adjusted EBITDA is frequently used by investors and securities analysts in their evaluations of companies, Adjusted EBITDA has limitations as an analytical tool, and should not be considered in isolation or as a substitute for analysis of our results of operations as reported under GAAP. Magnite to Acquire SpotX Deal Creates Largest Independent CTV & Video Advertising Platform * Full year 2020 combined company estimated non-GAAP net revenue would have been $350 million on … Earlier this year, backed by BYD and Great Wall Motor, Horizon Robotics raised $900 million in a Series C round. 6 Buys and 1 Hold assigned in the last three months add up to a Strong Buy analyst consensus. At $49.50, the average price target implies upside potential of 43.5%. Similarly using the Morningstar forward P/E average of 21.75 times Exxon’s $3.88 EPS for 2022 produces a target price of $84.39. We define non-GAAP net revenue as GAAP revenue less amounts paid to sellers that are included within cost of revenue for the portion of our revenue or SpotX’ revenue, as applicable, that is reported on a gross basis. "Sellers have been looking for a scaled independent alternative to the giant companies who dominate the CTV marketplace," said Michael Barrett, President & CEO of Magnite. And the world's leading agencies and brands trust our platform to access brand-safe, high-quality ad inventory and execute billions of advertising transactions each month. SpotX total preliminary non-GAAP net revenue (1)(2) ... On this news, Danimer’s stock price fell $6.43 per share, or approximately 13%, to close at $43.55 on March 22, 2021. To this end, Yu rates XPEV shares a Buy along with a $48 price target. This coincides with their intention to maintain a “strong” dividend, mentioned 10 times on the conference call. Find the latest Magnite, Inc. (MGNI) stock quote, history, news and other vital information to help you with your stock trading and investing. Exxon Mobil Will Keep Paying Its Dividend, And May Be Worth 30% More, Maxing Out Your 401(k) and What to Do Next, Fourth stimulus check: Lawmakers press Biden to say yes to more payments, People are flocking to the reopened Obamacare marketplace — and saving big, Stimulus check update: When will ‘plus-up’ payments arrive? It also cited dealers reporting strong demand for the longest-dated gilts.The success of Britain’s vaccination roll-out and plans to gradually reopen the economy have pressured gilts, lifting 50-year yields to their highest since 2019 last month. It is very important to do your own analysis before making any investment. BlackRock (ticker: BLK) on Thursday launched the (LCTU) and the (LCTD), which are benchmarked to the Russell 1000 index and the MSCI World ex-USA index, respectively. Non-GAAP net revenue does not represent revenue reported on a GAAP basis. However, Marketbeat.com reports that 24 analysts have a lower target of $52.73, whereas Seeking Alpha says that 27 analysts have an average target of $61.36. https://www.businesswire.com/news/home/20210204006217/en/, Harley-Davidson Nominates Ford CEO Farley to Join Its Board, UPDATE 2-Saudi-led coalition intercepts explosive-laden drones launched by Yemen's Houthis -state TV, Italian diagnostics group DiaSorin to buy Luminex for $1.8 bln, Trading clunkers for electric bikes: France moves to offer financial incentive, DiaSorin to Buy Covid-19 Test-Maker Luminex for $1.8 Billion, Saverin’s B Capital, Others Invest $1 Billion in India’s Byju’s, Record Alibaba Fine Shows China’s Big Tech Can’t Fight Back, More than just food: DoorDash, Grubhub, Uber Eats adapted to COVID-19, now plot next moves, U.K.’s Longest-Maturity Bond Offer Has Buyers Waiting to Pounce, Student loan forgiveness: What $10,000 in cancellation would look like by U.S. state. Company profile page for SpotX Inc including stock price, company news, press releases, executives, board members, and contact information If you've already maxed out your Roth IRA this year but want to stash away more for retirement, here are five other places to put your money. Delivery apps thrived during COVID-19, and they're now aggressively positioning themselves for life after the pandemic. Exxon clearly intends to maintain that dividend. SpotX total preliminary non-GAAP net revenue (1) (2) for 2020 was $116 million, of which $67 million was CTV Purchase price consists of $560 million … SpotX total preliminary non-GAAP net revenue (1)(2) for 2020 was $116 million, of which $67 million was CTV. This transaction allows for significant value creation and upside potential for the parties, sellers and advertisers in the growing CTV market. That’s now unleashing appetite among money managers to pile back in looking for income-bearing assets to match liabilities .The same dealers have also been reluctant to sell their inventory of long-maturity debt this year back to the Bank of England as part of its quantitative easing program in another sign of anticipated demand. Americans have tons of questions about their stimulus checks and 2020 taxes. For example, Morningstar reports that over the past 5 years, its trailing 5-year dividend yield has been 4.96% (almost 5%).InvestorPlace - Stock Market News, Stock Advice & Trading Tips We can use this to estimate the normalized target value for XOM stock. We believe Adjusted EBITDA is useful to investors in evaluating our performance for the following reasons: Adjusted EBITDA is widely used by investors and securities analysts to measure a company’s performance without regard to items such as those we exclude in calculating this measure, which can vary substantially from company to company depending upon their financing, capital structures, and the method by which assets were acquired. For example, if my 34% higher price target takes two years, the average annual return will be just 16% each year on a compounded basis. Magnite on Feb. 5 announced the acquisition of SpotX, a video advertising platform from RTL Group for $1.17 billion in a cash and stock transaction. Morningstar says this is 1.25 times over the last five years. Non-GAAP net revenue is a non-GAAP financial measure. Magnite Stock Rises Over 20% on Its $1.17 Billion Deal for SpotX The advertising platform also reported preliminary Q4 2020 results with a nearly 20% advance in revenue. Now we have three different price targets based on dividend yield and price-to-earnings. SpotX total preliminary non-GAAP net revenue (1)(2) for 2020 was $116 million, of which $67 million was CTV Purchase price consists of $560 million in cash and 14 million shares of Magnite stock, for a total of $1.17 billion based on the closing price of Magnite stock as of February 4, 2021 In some cases, you can identify forward-looking statements by terms such as "may," "might," "will," "objective," "intend," "should," "could," "can," "would," "expect," "believe," "design," "anticipate," "estimate," "predict," "potential," "plan" or the negative of these terms, and similar expressions. “Industry sources indicate XPeng is actively recruiting chip engineers,” said Deutsche Bank’s Edison Yu, who believes this suggests “there are plans to grow this effort moving forward.” “In our view,” Yu further noted, “We do not expect any near-term changes as both XPILOT 3.5 and 4.0 will use Nvidia chips (Xavier and Orin), but believe similar to Tesla/NIO, XPeng wants to ultimately use a custom designed chip purpose built to train its neural net (to use in XPILOT 5.0) rather than a general purpose chip, in order to maximize performance/ efficiency and lower cost.” Yu thinks local rival Nio, is “likely” fast at work on a similar project after poaching Xiaomi's chip division manager. Minutes of a conference call with the Debt Management Office last month revealed investors asked for more of the bonds because there isn’t enough to go around. SpotX's net revenue for 2020 was $116 million, $67 million of which was CTV-related. The penalty will not shake up its business model, either,” said Jet Deng, an antitrust lawyer at the Beijing office of law firm Dentons.Still, neither Zhang nor state media addressed lingering questions around the extent to which Beijing remains intent on reining in its internet and fintech giants, a broad campaign that’s wiped more than $250 billion off Alibaba’s valuation since October. Non-GAAP net revenue is a useful measure in assessing the performance of our business and the business of SpotX because it shows the operating results of our business and the business of SpotX on a consistent basis without the effect of differing revenue reporting (gross vs. net) that is applied under GAAP across different types of transactions, and facilitates comparison of our results to the results of companies that report all of their revenue on a net basis. "We built SpotX with the mission of becoming the leading global video advertising platform, and our goal is now coming to fruition with Magnite. Mark Zuckerberg and Tim Cook would likely not express such public gratitude if the U.S. government were to hit Facebook Inc. or Apple Inc. with record antitrust fines.But almost everything about China’s regulatory push is out of the ordinary. They sent a clear message to the country’s largest corporations and their leaders that anti-competitive behavior will have consequences.For Alibaba, the $2.8 billion fine was less severe than many feared and helps lift a cloud of uncertainty hanging over founder Jack Ma’s internet empire. So Magnite CEO Michael Barrett decided to make a move, buying the company for $1.17 billion in a cash and stock deal Friday. Target Price Based on Historicals Moreover, based on the company’s historical dividend yield, this is much higher than its average. (To watch Yu’s track record, click here) XPEV stock has a resounding “yes” on Wall Street. For example, if we divide the dividend per share of $3.48 by the average yield of 4.96%, the result is a target price of $70.16 per share. Please see the discussion in the section called "Non-GAAP Financial Measures" and the reconciliations included at the end of this press release. Looking at the wider picture, Yu believes it is all part of an effort by the industry/government to lower the dependence on foreign chips. ", Thomas Rabe, CEO of RTL Group, added: "We are excited about the combination of SpotX and Magnite, two leading CTV advertising providers. Then, RTL Group put SpotX up for sale. But next year analysts predict EPS of $3.88 per share, which will cover the dividend, assuming oil and gas prices stay high. (Bloomberg) -- U.K. bond investors eager for the government to sell more of its longest-dated debt appear to have gotten their way.A bond auction on Tuesday will include a 1 billion-pound ($1.37 billion) offering of gilts maturing in 2071 with more scheduled for sale in June. Until the transaction closes, both companies will continue to operate independently. But this gives you an idea that XOM stock is undervalued based on its historical metrics. Adjusted EBITDA does not reflect changes in our working capital needs, capital expenditures, non-operational real estate expenses or income, or contractual commitments. One thing to note is that although the $3.48 dividend exceeds the forecast earnings of $2.87 this year (2021). This represents a potential gain of $14.29 or about 26% more based on today’s price of $55.87. What to Know. While that’s triple the previous high of almost $1 billion that U.S. chipmaker Qualcomm Inc. handed over in 2015, it’s far less than the maximum 10% allowed under Chinese law.The fine came with a plethora of “rectifications” that Alibaba will have to put in place -- such as curtailing the practice of forcing merchants to choose between Alibaba or a competing platform -- many of which the company had already pledged to establish.Read more: China Fines Alibaba Record $2.8 Billion After Monopoly ProbeAlibaba Chief Executive Officer Daniel Zhang on Saturday declared his company now ready to move on from its ordeal, while China’s Communist Party mouthpiece People’s Daily issued assurances that Beijing wasn’t trying to stifle the sector.The Hangzhou-based firm “has escaped possible outcomes such as a forced breakup or divestment of assets. This is 29.7% above Exxon’s existing market cap of $236.5 billion. Similarly, Yahoo! These forward-looking statements represent our estimates and assumptions only as of the date of the report in which they are included. Here’s Why. In its statement, the State Administration for Market Regulation concluded Alibaba had used data and algorithms “to maintain and strengthen its own market power and obtain improper competitive advantage.” Its practice of imposing a “pick one from two” choice on merchants “shuts out and restricts competition” in the domestic online retail market, according to the statement.The firm will be required to implement “comprehensive rectifications,” including strengthening internal controls, upholding fair competition and protecting businesses on its platform and consumers’ rights, the regulator said. Investors should read this press release and the documents that we reference in this press release and have filed or will file with the SEC completely and with the understanding that our actual future results may be materially different from what we expect. Cowen and company in their latest report said they continue to believe that Delta Airlines will report a loss this year unless there is a significant recovery of international and corporate traffic in the second half, which seems highly unlikely amid the fourth wave of coronavirus infections. Moreover, the dividend yield is 6.15%. We’re Magnite (NASDAQ: MGNI), the world’s largest independent sell-side advertising platform. “For this, we are full of gratitude and respect.”It’s a sign of how odd China’s crackdown on the power of big tech has been compared with the rest of the world. The purchase price consists of $560 million in cash and 14 million shares of Magnite stock. Magnite’s expanded technical capabilities and teams will be able to move more quickly and cater to a broader set of client needs, including sellers that are newer to the world of programmatic and those who have mature, programmatic-only operations. Regulators are said, for instance, to be concerned about Alibaba’s ability to sway public discourse and want the company to sell some of its media assets, including the South China Morning Post, Hong Kong’s leading English-language newspaper.Read more: China Presses Alibaba to Sell Media Assets, Including SCMPChina’s top financial regulators now see Tencent as the next target for increased supervision, Bloomberg News has reported. That means that, on average, XOM stock is worth about 34% higher, or $75.14 per share. Forward-looking statements may include, but are not limited to, statements concerning the proposed acquisition of SpotX and/or the anticipated benefits thereof; completion of the proposed acquisition of SpotX on anticipated terms and timing; potential impacts of the COVID-19 pandemic on our business operations, financial condition, and results of operations and on the world economy; our anticipated financial results; strategic objectives, including our focus on connected television ("CTV"), mobile, video, header bidding, Demand Manager, identity solutions and private marketplace opportunities; investments in our business; development of our technology; the elimination of third-party cookies and the shift to a publisher focused identity regime; industry growth rates for ad-supported CTV and the shift in video consumption from linear TV to CTV; introduction of new offerings; the impact of our traffic shaping technology on our business; scope and duration of client relationships; the fees we may charge in the future; business mix and expansion of our CTV, mobile, video and private marketplace offerings; sales growth; client utilization of our offerings; our competitive differentiation; our market share and leadership position in the industry; market conditions, trends, and opportunities; certain statements regarding future operational performance measures including ad requests, fill rate, paid impressions, average CPM, take rate, and advertising spend; benefits from supply path optimization; and other statements that are not historical facts. But on the other hand, keep in mind that my price target could take several years to achieve, whereas most analysts are just looking out one year. Daten über Ihr Gerät und Ihre Internetverbindung, darunter Ihre IP-Adresse, Such- und Browsingaktivität bei Ihrer Nutzung der Websites und Apps von Verizon Media. StockX is the Stock Market of Things where you can buy and sell deadstock sneakers and shoes including real Yeezys, Adidas Ultra Boost, Retro Air Jordans, Nike … BlackRock Has Launched Two Behemoth Sustainable ETFs. That is over 30% above today’s price. Stock picking is ripe for a shift away from passive investing, which could suffer a decade of low or nonexistent returns, says Bill Smead. The 5-year-old, local start-up was recently selected by SAIC (GM and VW’s main JV Chinese partner) to supply its ADAS/AD chipset. The online lessons startup’s early investors include Facebook founder Mark Zuckerberg’s Chan-Zuckerberg Initiative, Naspers Ltd. and Tiger Global Management.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P. (Bloomberg) -- After China imposed a record antitrust fine on Alibaba Group Holding Ltd., the e-commerce giant did an unusual thing: It thanked regulators.“Alibaba would not have achieved our growth without sound government regulation and service, and the critical oversight, tolerance and support from all of our constituencies have been crucial to our development,” the company said in an open letter. These statements are not guarantees of future performance; they reflect our current views with respect to future events and are based on assumptions and estimates and subject to known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from expectations or results projected or implied by forward-looking statements. In other words, XOM stock is worth nearly 30% more or $72.46 per share. It has a 52-week high of $387.4 and low of $116. Sie können Ihre Auswahl jederzeit ändern, indem Sie Ihre Datenschutzeinstellungen aufrufen. A reconciliation of net loss to Adjusted EBITDA is included at the end of this press release. These risks include, but are not limited to: the possibility that the closing conditions to the proposed acquisition of SpotX may not be satisfied or waived, including that a governmental entity may not grant a required regulatory approval; delay in closing the proposed acquisition of SpotX or the possibility of non-consummation of the transaction; risks inherent in the achievement of anticipated synergies and the timing thereof; the finalization of our results and SpotX’s results for the fourth quarter and full year 2020 and the audit of their respective 2020 financial statements; our ability to successfully integrate the SpotX business, and realize the anticipated benefits of the acquisition; the severity, magnitude, and duration of the COVID-19 pandemic, including impacts of the pandemic and of responses to the pandemic by governments, business and individuals on our operations, personnel, buyers, sellers, and on the global economy and the advertising marketplace; our ability to grow and to manage our growth effectively; our ability to develop innovative new technologies and remain a market leader; our ability to attract and retain buyers and sellers of digital advertising inventory, or publishers, and increase our business with them; our vulnerability to loss of, or reduction in spending by, buyers; our reliance on large sources of advertising demand, including demand side platforms ("DSPs") that may have or develop high-risk credit profiles or fail to pay invoices when due, including as a result of general liquidity constraints experienced by buyers from the COVID-19 pandemic, which has caused certain buyers to delay payments or seek revised payment terms; our ability to maintain and grow a supply of advertising inventory from sellers and to fill the increased inventory; the effect on the advertising market and our business from difficult economic conditions or uncertainty; the freedom of buyers and sellers to direct their spending and inventory to competing sources of inventory and demand; the ability of buyers and sellers to establish direct relationships and integrations; our ability to cause buyers and sellers to use our solution to purchase and sell higher value advertising and to expand the use of our solution by buyers and sellers utilizing evolving digital media platforms, including CTV; our reliance on large aggregators of advertising inventory, and the concentration of CTV among a small number of large publishers that enjoy significant negotiating leverage; our ability to introduce new offerings and bring them to market in a timely manner, and otherwise adapt in response to client demands and industry trends, including shifts in linear TV to CTV, digital advertising growth from desktop to mobile channels and other platforms and from display to video formats and the introduction and market acceptance of Demand Manager; uncertainty of our estimates and expectations associated with new offerings, the possibility of lower take rates and the need to grow through increasing the volume and/or value of transactions on our platform and increasing our fill rate; our vulnerability to the depletion of our cash resources as a result of the adverse impacts of the COVID-19 pandemic, or as we incur additional investments in technology required to support the increased volume of transactions on our exchange and to develop new offerings; our ability to support our growth objectives in light of reduced resources resulting from the cost reduction initiatives that we implemented; our ability to raise additional capital if needed; our limited operating history and history of losses; our ability to continue to expand into new geographic markets and grow our market share in existing markets; our ability to adapt effectively to shifts in digital advertising; increased prevalence of ad-blocking or cookie-blocking technologies and the slow adoption of common identifiers; the development and use of proprietary identity solutions as a replacement for third party cookies and other identifiers currently used in our platform; the slowing growth rate of desktop display advertising; the growing percentage of online and mobile advertising spending captured by owned and operated sites (such as Facebook, Google and Amazon); the adoption of programmatic advertising by CTV publishers; the effects, including loss of market share, of increased competition in our market and increasing concentration of advertising spending in a small number of very large competitors; the effects of consolidation in the ad tech industry; acts of competitors and other third parties that can adversely affect our business; our ability to differentiate our offerings and compete effectively to combat commodification and disintermediation; the effects of buyer transparency initiatives we may undertake; requests for discounts, fee concessions or revisions, rebates, refunds, favorable payment terms; our ability to ensure a high level of brand safety for our clients and to detect "bot" traffic and other fraudulent or malicious activity; the effects of seasonal trends on our results of operations; costs associated with defending intellectual property infringement and other claims; our ability to attract and retain qualified employees and key personnel; political uncertainty and the ability of the company to attract political advertising spend; our ability to identify future acquisitions of or investments in complementary companies or technologies and our ability to consummate the acquisitions and integrate such companies or technologies; and our ability to comply with, and the effect on our business of, evolving legal standards and regulations, particularly concerning data protection and consumer privacy and evolving labor standards.

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