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Daily Tech News: Gushcloud, Lucid, BluSmart, Beppo, Juantax, F88

May 30, 2024

Here are the top stories on Techzi

Gushcloud’s Rollercoaster Ride: Revenue Skyrockets, Losses Take a Tumble

  • Gushcloud’s revenue soared 19% to $33.5M in 2022.

  • However, losses widened 141% to $4.4M.

  • Despite solid gross profit, operating cash burn increased 43%.

IBM and AI Singapore Make Waves with Sea-Lion Language Model

  • IBM partners with AI Singapore to enhance Sea-Lion language model.

  • IBM integrates Sea-Lion into Watsonx platform.

  • AISG gets IBM’s technical assistance to improve Sea-Lion.

“Just Get It Done… I Care About the Results, Not How You Do It”

Guest Author: Ken Leaver

  • Hands-off management undermines team effectiveness.

  • Real managers prioritize process over just results.

  • Embracing structure and transparency drives better outcomes.

Lucid CEO Criticizes Tesla’s Direction, Cites Leadership Distraction

  • Lucid CEO Rawlinson criticizes Tesla’s direction.

  • Rawlinson asserts Lucid’s technological advantage.

  • The two leaders have a history of disagreement over Rawlinson’s role at Tesla.

BluSmart Gears Up for $300M Funding Round to Electrify India’s Mobility Landscape

  • BluSmart seeks $300M funding to expand electric fleet to 25,000 vehicles.

  • Company leases EVs from automakers, prioritizing quality over low costs.

  • BluSmart targets $110M revenue by 2025 with premium services.

Tech CEOs Deliver Brutal Emails: A Glimpse into the Tough Side of Leadership

  • Tech CEOs like Zuckerberg and Musk send stern emails to enforce company policies.

  • Bezos and Cook use subtle cues to express dissatisfaction with employees.

  • Iger and Jassy deliver tough news about layoffs and return-to-office mandates via email.

Beppo Secures Pre-Seed Funding and Acquires JuanTax to Automate Accounting for SMEs

  • Beppo raises pre-seed funding to automate accounting for SMEs in the Philippines.

  • The startup acquires JuanTax and five bookkeeping firms to strengthen its market position.

  • Beppo plans domestic expansion and international growth within the next few years.

F88 Bounces Back, Vietnamese Financial Firm Reports $1.2M Profit in Q1 2024

  • F88 reports $1.2M profit in Q1 2024 after a challenging 2023.

  • Strategic shifts and Vietnam’s economic recovery fuel growth.

  • The company plans expansion and refinement for future success.

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