Despite glimmers of profit, most African neobanks remain in the red It was only just over a year ago that McKinsey described Africa’s financial technology landscape as a “hotbed for investment.” Fast forward to today, and startups on the continent are facing many of t...
TechCrunch
Despite glimmers of profit, most African neobanks remain in the red | TechCrunch
As African neobanks continue to grow, they'll have to effectively deal with impaired loans to consistently turn a profit.
Speedinvest closes fourth fund at $380 million to back early-stage startups in Europe Vienna-based early-stage VC Speedinvest has closed its fourth early-stage fund, Speedinvest 4, at €350 million (around $380 million at today’s exchange rate), surpassing the initial goal of €300 milli...
TechCrunch
Speedinvest closes fourth fund at $380M to back early-stage startups in Europe | TechCrunch
The VC firm says the funds will be utilized to enhance the VC’s portfolio and back the global scaling of early-stage startups.
India’s central bank slaps Paytm’s Payments Bank with new curbs The Reserve Bank of India has ordered Paytm’s Payments Bank to cease deposits, credit transactions and top-ups in customer accounts, prepaid instruments and wallets after February 29 in new strict pen...
TechCrunch
India orders Paytm Payments Bank to halt business | TechCrunch
The Reserve Bank of India (RBI) widened its curbs on Paytm's Payments Bank, which processes transactions for financial services giant Paytm, b...
Sundar Pichai says Google One cloud storage service has nearly 100M subscribers Google CEO Sudar Pichai said that the company’s Google One cloud storage service is ” just about to cross” 100 million subscribers. Speaking during Alphabet’s Q4 2023 earning call, Pichai added that t...
TechCrunch
Sundar Pichai says Google One cloud storage service has nearly 100M subscribers | TechCrunch
Google CEO Sudar Pichai said that the company's Google One cloud storage service is " just about to cross" 100 million subscribers.
Accel eyes new India fashion e-commerce bet with Newme Accel, an early investor in Indian e-commerce giants Flipkart and Myntra, is preparing a new fashion e-commerce bet in India even as competition intensifies with the recent expansion of Mukesh Ambani’...
TechCrunch
Accel eyes new India fashion e-commerce bet with Newme | TechCrunch
Accel, an early investor in Indian e-commerce giants Flipkart and Myntra, is preparing a new fashion e-commerce bet in India even as competition Ac...
Wattpad, a storytelling platform, conducts another layoff round Wattpad, a Toronto-based storytelling platform owned by Naver’s Webtoon Entertainment, conducted another round of layoffs earlier this month.  Wattpad has cut around 30 jobs, or roughly 15% of its wor...
TechCrunch
Wattpad, a storytelling platform, cuts 10% of its staff as part of company reorganization | TechCrunch
Wattpad, a Toronto-based storytelling platform owned by Naver's Webtoon Entertainment, confirmed it laid off around 20 staff, or less than 10...
Elon Musk’s $56B Tesla pay deal is unfair, judge rules A Delaware judge ruled Tuesday that Elon Musk’s $56 billion multi-billion pay package is unfair, voiding the largest in compensation deal in corporate history. The decision, issued Tuesday in the Dela...
TechCrunch
Elon Musk's $56B Tesla pay deal is unfair, judge rules | TechCrunch
A Delaware judge ruled Tuesday that Elon Musk's $56 billion pay package at Tesla was unfair and therefore voided.
Ofcom report finds 1 in 5 harmful content search results were ‘one-click gateways’ to more toxicity Move over, TikTok. Ofcom, the U.K. regulator enforcing the now official Online Safety Act, is gearing up to size up an even bigger target: search engines like Google and Bing and the role that they pl...
TechCrunch
Ofcom report finds 1 in 5 harmful content search results were 'one-click gateways' to more toxicity | TechCrunch
Move over, TikTok, Ofcom, the U.K. regulator enforcing the now official Online Safety Act, is gearing up to size up an even bigger target: search ...
Universal Music Group plans to pull song catalog from TikTok Universal Music Group (UMG), the label representing artists including Taylor Swift, Billie Eilish, and Ariana Grande, says that it’ll pull its music from TikTok tomorrow at midnight after failing to r...
TechCrunch
Universal Music Group plans to pull song catalog from TikTok | TechCrunch
Universal Music Group, one of the world's largest music labels, says that it plans to stop licensing music to TikTok in a disagreement over ro...
Amid a fairly flat European market, Giant Ventures raises $250M to invest transatlantically Giant Ventures, a UK-based VC that has made a habit of investing on both sides of the Atlantic, is launching two new funds, totalling $250 million. It’s previous fund had totalled $100 million. The fi...
TechCrunch
Amid a fairly flat European market, Giant Ventures raises $250M to invest transatlantically | TechCrunch
Giant Ventures, a U.K.-based VC that has made a habit of investing on both sides of the Atlantic, is launching two new funds, totaling $250 million...