Luxury EV startup Lucid Motors changed its yearly production target again, lowering it to an expected output of between 6,000 and 7,000 vehicles, the company announced today. That’s only a fraction of the 20,000 cars that Lucid initially promised to deliver in 2022. The Tesla competitor has only produced 1,405 vehicles so far this year,… Continue reading Lucid Motors has drastically reduced its production target, again
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NASA says retired astronauts must act as sherpas on private flights to the ISS
NASA will soon require a retired astronaut to serve as mission commander on all private flights to the International Space Station, according to an agency notice posted today. The policy — which has yet to be finalized — is intended to both increase passenger safety and reduce any strain on existing ISS operations. The former… Continue reading NASA says retired astronauts must act as sherpas on private flights to the ISS
Google decided having two apps called Meet was a good idea
Google is moving forward with its merger of Duo and Meet, if not quite as elegantly as some might like. TechCrunch reports Google is rebranding Duo for Android and iOS as the Meet app, complete with the video calling-centric logo. The company had already migrated many of Meet’s features. However, the old Meet app isn’t… Continue reading Google decided having two apps called Meet was a good idea
Facebook Live Shopping is coming to an end in favor of Reels
Facebook Live Shopping events appear to be another casualty of Meta’s shift to short-form video. According to an announcement on the company’s website, live shopping events on Facebook will retire on October 1st. The little-known feature let Facebook Business owners showcase their products in live videos to their followers — sort of like a personal… Continue reading Facebook Live Shopping is coming to an end in favor of Reels
College textbook maker Pearson eyes NFTs to claim a cut of second-hand sales
NFT advocates often tout the technology’s ability to grant the creator a cut of second-hand sales as one of its major attributes. Artists can earn from one of their digital creations years after first selling it. Others are looking at NFTs to earn a buck from the secondary market too, including the publishers of college… Continue reading College textbook maker Pearson eyes NFTs to claim a cut of second-hand sales
China’s top VCs flock to Singapore, build local offices to seize SE Asia’s growth potentialShunwei, Source Code, and Vision Plus Capital are looking a…
Chinese top-tier venture capital (VC) companies have joined a growing list of global investors to set up new offices in Singapore to seize the upside potential of Southeast Asia’s fast-growing startups. China’s Shunwei Capital, Source Code Capital, and Vision Plus Capital are in the process of expanding their presence in Singapore through a local office… Continue reading China’s top VCs flock to Singapore, build local offices to seize SE Asia’s growth potentialShunwei, Source Code, and Vision Plus Capital are looking a…
Indian mid-market PE firm Carpediem Capital seeks to raise up to $100m for second fund
Carpediem Capital, a mid-market private equity (PE) fund manager in India, is in advanced talks with institutional firms and family offices to raise about $100 million as it looks to ramp up its investments in the burgeoning SME segment in the country. The firm is understood to have garnered about 65% of the target corpus… Continue reading Indian mid-market PE firm Carpediem Capital seeks to raise up to $100m for second fund
Vietnamese B2B e-commerce starup Telio said to be raising $50-60m
Vietnam-based B2B e-commerce startup Telio is seeking to raise $50-60 million in a new funding round, according to people privy to the matter. The round is said to be led by a private equity investor, one of the sources said. The lead investor will join as a new backer in Telio. Go to Source
KKR raises $4.1b so far for largest Asia Pacific infrastructure fund
Global private equity major KKR & Co has so far raised $4.1 billion for its second Asia Pacific infrastructure fund, the largest in the region for infrastructure-related investments. Asia Pacific Infrastructure Investors II has already surpassed KKR’s first infrastructure fund, which closed at $3.8 billion in January 2021, the firm said during its recent Q2… Continue reading KKR raises $4.1b so far for largest Asia Pacific infrastructure fund
Lyft assured no layoffs were coming — now employees are scrambling for their next gig
The day before Lyft shut down its in-house rental service and laid off close to 60 employees, the team in charge of the program was consumed by what they thought was a much bigger problem. Throughout June, the rentals team had attempted to get the service up and running in New York without success. The… Continue reading Lyft assured no layoffs were coming — now employees are scrambling for their next gig