Singapore-based app Grab has launched an accelerator program for startups in Vietnam, according to a report by Deal Street Asia. The initiative, called Grab Ventures Ignite (GVI), is part of the “Grab for Good” development plan in the country. Vietnam is the first participating country,...
Facebook has connected with Sequoia Capital India’s Surge accelerator initiative to roll out the fourth version of the VC Brand Incubator program in India, Deal Street Asia reported. The social media company started the VC Brand Incubator in June 2019 to support small and medium-sized...
Chinese eCommerce and social media startup Xiaohongshu, also known as “Little Red Book,” wants to raise funds at a $6 billion valuation, according to Bloomberg. The company is backed by Tencent and Alibaba, and it wants to raise somewhere between $400 million and $500 million....
Despite headline-grabbing startup debacles, U.S. investors are still hot to bankroll up-and-coming companies like challenger bank Chime, The Financial Times (FT) reported on Tuesday (Jan. 7). In nine months, the valuation for Silicon Valley’s Chime grew to four times its original size, with investors offering...
Online brokerage startup Robinhood has introduced a cash management service that will give customers 1.8 percent interest on any money they don’t have in stocks, Bloomberg reported on Wednesday (Dec. 11). This new service follows last year’s unsuccessful launch of a checking and savings account...
India-based OYO has filed a valuation report with India’s ministry of corporate affairs indicating that the company did not expect to turn a profit until 2022, Reuters reported on Monday (Nov. 25). The losses were six times higher in 2019 through March compared to 2018, but...
Tech startups fearing anticipated instability are scrambling to conserve an age-old commodity — cash — the New York Times (NYT) reported on Sunday (Nov. 17). Following quick growth and easy funding, startups are starting to jump off the fast lane and follow a more conservative...
In the second closure of a free-floating carshare in Seattle in two months, Lime has announced it is winding down LimePod. The startup will begin taking away the LimePod vehicles from the streets of the city in October and intends to shut down the service...
Emmanuel Macron, president of France, has announced that institutional investors are ready to loan $5.5 billion to assist tech startups over the next three years, the Financial Times reported Tuesday (Sept. 17). Axa, Natixis, Aviva and Allianz are among asset managers and insurers recruited to...