Zilingo Co-Founder Ankiti Bose
Zilingo spins off tech, product, IP units to Swiss startup Buyogo
The fashion e-commerce firm is nearing a debt settlement; This comes days after Zilingo appointed EY as provisional liquidator to wind up the firm; Buyogo is a SaaS startup focused on digital e-commerce solutions for SMEs.
Ex-Deliveroo execs’ food-ordering firm Gobble shutters
Its co-founder Domenico Tan shared on LinkedIn that Gobble’s B2C model “wasn’t sustainable” for it to have survived long; The executive also shared that even with Gobble’s high sales volume, margins were still too low.
Two Singaporean PEs join hands to launch US$700M tech fund
The CSP Fund II, formed by Capital Square and Basil Technology Partners, will focus on SaaS, AI, data analytics and digital sub-sectors; The fund raised capital from HarbourVest Partners, TPG NewQuest, and Committed Advisors.
Japan’s MUFG Bank amplifies SEA focus, bullish on ID fintech
The bank has internally committed US$500M or more for equity investments to Asia, including India and SEA; In March 2022, MUFG launched a US$300M Ganesha fund to invest in middle- to late-stage Indian startups.
Indonesian e-commerce enabler Desty raises US$4.35M
The investors include East Ventures, Z Venture Capital, and BAce Capital; Desty helps sellers, creators, and influencers promote and sell their products online.
Google parent Alphabet to axe 12,000 jobs
The cuts account for about 6% of Alphabet’s total workforce; According to CE Sundar Pichai, the retrenchment will cut across product areas, functions, levels and regions.
Spotify set to slash jobs this week
While the exact number of those laid off was undisclosed, the music-streaming giant has nearly 9,800 employees, as reported in its third-quarter earnings; In 2022, Spotify let go of 38 employees from its Gimlet Media and Parcast podcast studios.
Genesis crypto-lending units file for bankruptcy protection
The filing includes the parent company Genesis Global Holdco and two of its lending business subsidiaries; Genesis has over US$150M in cash, which it plans to use to support its ongoing operations and restructuring process.
SoftBank-backed Swiggy to shed 380 employees
The Indian food delivery startup cited the current macroeconomic slowdown and overhiring for the restructuring; Contrary to Swiggy’s projections, the growth rate for food delivery has slowed down.
SG probes Gorilla Mobile over temporary suspension of services
The Infocomm Media Development Authority said under Gorilla’s licensing terms, the company has to secure approval from the government body before ceasing services.
How corporate innovation in Vietnam is fledging the B2B startup ecosystem
Zone Startups is contributing to Vietnam’s push to leverage its well-known software outsourcing industry into a fledging B2B startup ecosystem.
Giving a boost to business through finance automation
The first step in your digital finance transformation should be to evaluate where you are at present and proceed with implementing a solution.
Bitcoin vs Altcoins: Which is the better investment?
This article dives deeper and compares Bitcoins and Altcoins and to find out which could be more beneficial.
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The post Ecosystem Roundup: Zilingo nears debt settlement; foodtech startup Gobble shutters; Alphabet, Spotify lay off employees appeared first on e27.