How SaaS architecture impacts pricing and profitability
As your product matures, molding existing architectures to accommodate demands from the growing user base becomes difficult.
Musk v. Altman week 2: OpenAI fires back, and Shivon Zilis reveals that Musk tried to poach Sam Altman
In the second week of the landmark trial between Elon Musk and OpenAI, Musk’s motivations for bringing the suit were under scrutiny. Last week, Musk took the stand, alleging that OpenAI CEO Sam Altman and president Greg Brockman had deceived him into donating $38 million to the company. He claimed that they’d promised to maintain…
China is suddenly dealing with another public health crisis: mpox
Hazmat suits, PCR tests, quarantines, and contact tracing—it was hard not to feel déjà vu last week when China’s Center for Disease Control and Prevention published new guidance on how to contain a disease outbreak. But what was happening was not another covid wave. Rather, the Chinese government was addressing a potentially significant new public…
Vanguard cuts Indian ride-hailing giant Ola’s valuation by 52%
The U.S. index fund pioneer Vanguard has cut the worth of its holding in the Indian ride-hailing startup Ola by more than half since original investment, according to an analysis of its filings. Vanguard cut the worth of its shares in Ani Technologies, Ola’s holding firm, by 51.6% as of the end of May, it […]
Traction raises $6M seed as Nigeria’s merchant acquiring space continues to heat up
Micro, small, and medium-sized firms (MSMEs) constitute the backbone of the Nigerian economy, accounting for more than 60% of GDP growth and playing a crucial role in job creation. According to the National Bureau of Statistics, there are over 39 million such firms, and 87% operate informally, meaning they primarily receive cash and perform activities […]
Reddit updates its site design for logged-out users
Reddit is rolling out a number of updates to its website for logged-out users, including improved performance, a more helpful search results page and better communities and related post suggestions. The company said in a blog post on Monday that people are coming to the Reddit website from different search engines to find relevant content […]
NATO announces $1B fund to back startups supporting ‘safety, freedom and human empowerment’
After announcing plans nearly two years ago, defense alliance NATO has officially closed its first fund to back startups that are building technology strategic to NATO’s own goals in defense and security. Member nations are collectively committing capital totalling €1 billion (around $1 billion at current rates) to the NATO Innovation Fund, which plans to […]
Ola’s Aggarwal sets eyes on AI, semiconductor design
Indian entrepreneur Bhavish Aggarwal, co-founder of ride-hailing firm Ola and electric vehicle startup Ola Electric, is venturing into fresh terrain as he navigates his businesses towards initial public offerings. He has set up an AI startup that seeks to develop a large language model and is currently scouting two U.S.-headquartered AI startups for a potential […]
Rapyd acquires a piece of PayU from Prosus for $610M to scale its fintech-as-a-service platform
Rapyd, the fintech-as-a-service startup that provides APIs to enable payments, card issuing, digital wallet and other financial services to companies like Uber and Ikea, is taking a significant step forward in its growth with a big acquisition: it is paying $610 million to acquire a giant piece of PayU — the payments group of internet […]
Nigeria’s Remedial Health gets QED backing in $12M round
Remedial Health, a Nigerian startup digitizing pharmacies and bringing efficiency to the pharmaceutical value chain, has raised $12 million Series A equity-debt funding, to scale operations in the West African country. Fintech VC firm QED Investors co-led the round, banking on embedded financial opportunities like payments, and lending in the pharmaceutical sector. This is QED’s […]
Phoenix Has Hit 110 Degrees for a Month, But This One Invention Is Cooling Things Down a Tad
For the Arizona city amid a record-breaking heat wave, cool surfaces bring a modicum of relief.