FTX founder Sam Bankman–Fried sold a stake in the company worth $300 million when the crypto exchange raised capital last year, the Wall Street Journal reported on Friday, citing the firm’s financial records and people familiar with the transaction. At the time, Bankman–Fried told investors it was a partial reimbursement of money he’d spent to buy out rival Binance’s stake in FTX a few… Continue reading FTX’s Sam Bankman-Fried sold $300m stake during funding spree
Author: Deal Street Asia Online News
Hong Kong crypto retail operator Genesis Block says it has stopped tradingEven before FTX’s bankruptcy, Genesis Block had been winding down its Hong K…
A leading cryptocurrency retail service provider in Hong Kong said it has ceased trading as the broader fallout from the collapse of FTX, and solvency issues at other major crypto firms, continues to roil the sector. Genesis Block, which at one time operated one of Asia’s biggest bitcoin ATM networks, said it would be closing down its… Continue reading Hong Kong crypto retail operator Genesis Block says it has stopped tradingEven before FTX’s bankruptcy, Genesis Block had been winding down its Hong K…
Zomato co-founder Mohit Gupta resigns, in third high-profile exit in two weeks
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GIC-backed Skyroot launches India’s first rocket built by the private sector
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Sequoia India-backed Australian e-grocery startup Voly shuts down
Sydney-based e-grocery firm Voly will be shutting down “due to worsening macroeconomic conditions making it difficult to attract new funding”, its co-founder Thibault Henry announced in a LinkedIn post. Several e-grocery firms across the globe have shut down recently after being unable to raise further funding. While in the US, e-grocery firms like Gopuff, Fridge… Continue reading Sequoia India-backed Australian e-grocery startup Voly shuts down
TPG Capital said to have sold $123m Nykaa shares just days after lock-in expiredAs on September 30, the private equity firm held a 2.28% stake in the …
TPG Capital has likely offloaded shares worth $123 million (Rs. 1,000 crore) in Nykaa, days after the lock-in expiry for pre-IPO investors in the online fashion and cosmetics retailer ended. According to media reports, TPG Capital is likely to sell the shares at Rs 184.55, a 0.6% discount to Thursday’s closing price of Rs 185.60.… Continue reading TPG Capital said to have sold $123m Nykaa shares just days after lock-in expiredAs on September 30, the private equity firm held a 2.28% stake in the …
India Digest: Lenskart raises $40m, Kapiva to raise over $24m
Lenskart has raised $39.6 million from Chiratae Ventures, DSP India Fund, and Axis Growth Avenues AIF-I, in its fifth funding round this year, according to Inc42. Separately, Entrackr reported that D2C ayurvedic nutrition brand Kapiva is in late-stage talks to raise over $24 million (Rs 200 crore) from OrbiMed. Lenskart said to have raised $40m… Continue reading India Digest: Lenskart raises $40m, Kapiva to raise over $24m
Hundreds of Twitter employees said to be quitting after Elon Musk’s ultimatum
Hundreds of Twitter employees are estimated to be leaving the beleaguered social media company following an ultimatum from new owner Elon Musk that staffers sign up for “long hours at high intensity,” or leave. In a poll on the workplace app Blind, which verifies employees through their work email addresses and allows them to share… Continue reading Hundreds of Twitter employees said to be quitting after Elon Musk’s ultimatum
GoTo confirms it is laying off 1,300 employees, or 12% of the workforce
The IDX-listed Indonesian tech giant GoTo has announced it will let go of 1,300 people or 12% of the group’s workforce. The decision, the company said, is needed to ensure its “long-term stability and sustainability”. In a town hall meeting on Friday, GoTo’s CEO Andre Soelistyo told staffers that global macroeconomic conditions are having a… Continue reading GoTo confirms it is laying off 1,300 employees, or 12% of the workforce
Amazon to continue layoffs in the New Year
Amazon.com Inc said on Thursday there would be more role reductions as its annual planning process extends into next year and leaders continue to make adjustments. “Those decisions will be shared with impacted employees and organizations early in 2023”, said Andy Jassy, who became the company’s Chief Executive Officer in 2021, in a letter to… Continue reading Amazon to continue layoffs in the New Year