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Daily Tech News: Carsome, Qoo10, YouTube, Grab, Funding Societies, Silicon Valley

July 29, 2024

Here are the top stories on Techzi

Carsome Eyes Malaysian IPO, Bucking US Listing Trend

  • Carsome plans IPO within two years, favoring Malaysian exchange over US.

  • Bursa Malaysia sees 43% increase in IPO funds raised this year.

  • Southeast Asian exchanges face challenges attracting tech unicorns despite local advantages.

Qoo10’s Korean Units Under Scrutiny for Merchant Payment Delays

  • Qoo10’s Korean units investigated for $123 million in delayed merchant payments.

  • Aggressive acquisition strategy leads to liquidity crisis.

  • Partners and banks react swiftly, highlighting e-commerce market’s fragility.

YouTube’s Evolving Creator Ecosystem

  • YouTube’s creator ecosystem expands, favoring niche content over mainstream stars.

  • Diverse monetization options empower creators across various interests.

  • Success metrics shift towards engaged communities rather than universal recognition.

A Bit of Startup Humor for Today

From Teaching Assistant to Tech Titan: Andrew Bosworth’s Meta Journey

  • Bosworth rose from Zuckerberg’s teaching assistant to Meta’s CTO.

  • He pioneered key Facebook features and now leads metaverse development.

  • Bosworth’s journey exemplifies Meta’s evolution from social media to immersive tech.

Grab’s Trans-cab Takeover Hits the Brakes

  • Grab abandons Trans-cab acquisition after regulatory concerns.

  • Deal would have added 2,200 taxis to Grab’s fleet.

  • Competition watchdog ends assessment following companies’ withdrawal.

Funding Societies Hits Islamic Financing Milestone in Malaysia

  • Funding Societies disburses $64.22M in Islamic financing to Malaysian MSMEs.

  • The company targets 50% Islamic portfolio by 2025.

  • This initiative supports Malaysia’s economic growth and halal economy expansion.

Silicon Valley’s VC Smackdown Dominates Tech Twitter

  • Silicon Valley VCs engage in public Twitter feud over past controversies.

  • High-profile names trade accusations about founder mistreatment and ethics.

  • Industry insiders worry about damage to VC’s reputation among entrepreneurs.

OpenAI Unveils SearchGPT – Google’s New Challenger

  • OpenAI launches SearchGPT, challenging Google’s search dominance.

  • The AI-powered tool provides timely answers from web sources.

  • OpenAI addresses concerns about attribution and publisher impact.

UnaFinancial Soars: $4.7M Profit in First Half of 2024

  • UnaFinancial reports $4.7M profit in H1 2024.

  • Revenue reaches $102.1M.

  • Company expands services in Philippines and Kazakhstan.

Did you miss yesterday's daily news show?? Then it’s not too late to check it out now!

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