Category: Tech News

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Tesla (TSLA) stock splits, gets new target at $360 a share

Tesla’s (TSLA) stock has now officially split 3-for-1 after closing at $891 per share yesterday, which means it should start trading at around $297 per share this morning. But now it already got its first price target update post-split at $360 a share. Tesla’s stock is an important indicator of the move to electrification since… Continue reading Tesla (TSLA) stock splits, gets new target at $360 a share

Hygood raises $44m and 22 more deal updates from Greater China worth $214mIt has secured a strategic investment from investors including Haiwang Capit…

Chinese new material company Wuxi Hygood New Technology has raised over 300 million yuan ($43.8 million) in a strategic investment from investors, including Haiwang Capital, a domestic investment platform that manages over 10 billion yuan ($1.5 billion). Hygood, founded in November 2008, focuses on the R&D, manufacturing, marketing and sales of aluminium nitride (AIN) –… Continue reading Hygood raises $44m and 22 more deal updates from Greater China worth $214mIt has secured a strategic investment from investors including Haiwang Capit…

Australian BNPL firm Zip’s annual loss widens as inflation chokes

Australian buy-now-pay-later (BNPL) firm Zip Co Ltd posted a wider annual loss on Thursday, signalling lacklustre outlook for fintech firms in the wake of soaring inflation. BNPL operators, particularly, have seen their valuations collapse in recent times as reduced customer spending and rising interest rates have squeezed their margins and pushed the firms’ funding costs higher. Shares… Continue reading Australian BNPL firm Zip’s annual loss widens as inflation chokes

Thai lender SCB terminates $500m investment in crypto exchange Bitkub

SCB X, the holding company of Thailand’s oldest lender, Siam Commercial Bank, announced that it has terminated an investment transaction worth about $500 million with local crypto asset company Bitkub Online. SCB X would have acquired 51% of Bitkub’s shares at a price of 17.8 billion baht ($537 million at the time of the announcement… Continue reading Thai lender SCB terminates $500m investment in crypto exchange Bitkub

Mitsubishi’s SE Asia-focused PE firm AIGF closes $126m second fund

ASEAN-focused private equity (PE) firm AIGF Advisors Pte Ltd has closed its second fund, AIGF II LP, at 17.3 billion yen ($126 million), according to an announcement. The commitments were made by institutional investors in Japan and the ASEAN region, AIGF said. A PE fund sponsored by Japanese conglomerate Mitsubishi Corporation, AIGF is focused on… Continue reading Mitsubishi’s SE Asia-focused PE firm AIGF closes $126m second fund

Sonos is reportedly developing a speaker that can beam sound in almost all directions

Sonos is working on a new flagship speaker that could be quite a departure from its existing models, according to The Verge. The publication reports that it has seen early images of a new high-end speaker with the codename Optimo 2. If its current design sticks, the device will be encased in a dual-angled shell… Continue reading Sonos is reportedly developing a speaker that can beam sound in almost all directions

Data privacy startup Privado bags $14m from Sequoia India, Insight PartnersExisting investors Together Fund and Emergent Ventures also invested.

Data privacy startup Privado on Wednesday said it has raised $14 million in a Series A funding round co-led by Sequoia Capital India and Insight Partners. The funding, which also saw participation from existing investors Together Fund and Emergent Ventures, comes close on the heels of its seed raise of $3.5 million in January. The… Continue reading Data privacy startup Privado bags $14m from Sequoia India, Insight PartnersExisting investors Together Fund and Emergent Ventures also invested.

ID Digest: Tokopedia launches subscription-based priority delivery; Traveloka quits e-grocery

Tokopedia has launched a new subscription package that allows its users to enjoy free shipping and other perks. Meanwhile, Traveloka has quit the e-grocery sector in just a few months of its foray. PLUS by GoTo Indonesian e-commerce giant Tokopedia, part of the GoTo Group, has announced a subscription plan that offers unlimited free priority… Continue reading ID Digest: Tokopedia launches subscription-based priority delivery; Traveloka quits e-grocery

Sony hikes price of PS5 in Europe, Japan, and more

Sony is increasing its PS5 prices in the UK, Europe, Japan, China, Australia, Mexico, and Canada. Prices are jumping by 10 percent in Europe, and by around 6 percent in the UK as inflation rates impact Sony and many other companies. While Sony is increasing PS5 prices in many parts of the world, it says… Continue reading Sony hikes price of PS5 in Europe, Japan, and more