TECHCRUNCH: Telegram, the multi-platform messaging app startup created by Pavel Durov (who previously created and later departed VK, the ‘Russian Facebook’ amid controversy), has released its latest numbers exclusively to TechCrunch. (more…)
Quartz: When Google’s co-founders, Larry Page and Sergey Brin, decided to set up a venture-capital fund back in 2009, they chose a relatively little-known neuroscience graduate, entrepreneur, and biotechnology investor to run it. His name is Bill Maris, and over the past five years, he’s become one of the most important and powerful men in Silicon Valley. (more…)
Fast Company: Have you ever needed to deposit a fat stack of cash, but didn’t want to travel to a bank? Poland’s Idea Bank has bolted ATMs into a fleet of cars that can be ordered via a smartphone app for no-fee deposits, wherever you are, even late at night. As long as you’re in Warsaw, Poland. (more…)
The Daily Dot: As the millennial generation starts to reach its 30s, many of these ‘80s and ‘90s kids are having kids of their own, and recent surveys show one in five millennial parents is living in poverty. That’s the result of a combination of rising costs for raising children, falling wages, increased unemployment, and high debt—mostly college related. But the boomer generation seems to think otherwise: Millennials are to blame for their own financial situation, thanks to wasting time on the Internet and being too lazy to find jobs. (more…)
TECHCRUNCH: You almost certainly associate Tesla with cars — very cool cars — but the company has an even grander vision beyond that. Today, CEO and founder Elon Musk unveiled ‘Tesla Energy’ — a new business arm that is focused on ending our dependence on grid power and switching instead to solar energy. (more…)
The Finanser interviews: Chris Larsen is CEO and Co-founder of Ripple Labs, creators of Ripple, an open-source, distributed payment protocol. Mr. Larsen also cofounded and served as CEO of Prosper, a peer-to-peer lending marketplace, and E-LOAN, a publicly traded online lender. During his tenure at E-LOAN, he pioneered the open access to credit scores movement by making E-LOAN the first company to show consumers their FICO scores. (more…)
DEALSTREETASIA: The recent entry of several fintech-focused accelerators into the Singapore startup ecosystem is laying the foundations for a sophisticated fintech ecosystem in the city-state. This development has played a significant part in the Russian venture capital firm Life.SREDA’s shifting its HQ from Moscow to Singapore. With the recent move by Life.SREDA VC to migrate to Singapore, along with its proposed $100 million second fund, DEALSTREETASIA caught up with its managing partner Vladislav Solodkiy, who is also the Chairman of the Board of LifePay Global, which provides mPos services across CIS and Asia Pacific markets.Edited Excerpts (more…)
FORTUNE: We’re going through a once-in-a-century transformation in business that is throwing out all the existing rules. The Leadership Insider network is an online community where the most thoughtful and influential people in business contribute answers to timely questions about careers and leadership. Today’s answer to the question “What advice would you give someone looking to start their own business?” is by Tien Tzuo, CEO of Zuora.
TECHCRUNCH: Apple, the word’s most valuable corporation, has a new cash tally: $194 billion. That’s to say that if you add up its cash, cash equivalents, short-term marketable securities, and long-term marketable securities, it totals $194 billion. Cash is a loose term that is usually employed at the corporate scale to include accreted value that remains functionally liquid. (more…)
E27.CO: As more and more companies look to Singapore as their HQ, understanding how to incorporate a company in one of the most business-friendly locations in the world is now more important than ever.
To make life easier, the folks over at Rikvin put together this super comprehensive infographic on just that. Titled ‘All you need to know about incorporating a Singapore company‘, the infographic includes information on minimum requirements, documents needed, steps involved, as well as post-incorporation and related matters.
We have republished the full infographic below with permission from Rikvin for your researching pleasure. Scroll down to get all that free goodness.
See the infographic
E27.CO: Singapore can be called a business nation: values this country has contributed to the world’s economy have totally changed the way a business can be run. Singapore has led in the World Bank’s Doing Business Survey for years persistently proving its status of “the world’s easiest place to do business”. Everything in the country works for tremendous business results. (more…)
WIRED: Tesla is admired for building the cars of the future. But it’s not really a car company. It’s a battery company that happens to make electric cars. At least, that’s the trajectory suggested by the news that Tesla will soon sell mega-batteries for homes and electric utility companies. CEO Elon Musk mentioned the possibility during an earnings call last February, and the plan was reportedly confirmed in an investor letter revealed yesterday. The official announcement is set to come next week. (more…)
The Finanser: Matthias Kröner has been CEO of Fidor Bank since 2006. He is responsible for investor relations, corporate communications, strategic development and communities. Fidor is an internet bank, its primary account combines elements of a traditional bank account with internet payments and innovative banking services. Fidor was the first bank to integrate Ripple’s payment protocol, allowing its customers to instantly send money in any currency in any amount. (more…)
Uber and Capital One are excited to announce a partnership that enables Uber riders to get 20% back as a statement credit on every Uber ride through April 2016 when they pay with Quicksilver from Capital One. The offer applies globally in more than 300 cities where Uber operates.
WIRED: As he speaks, Jeff Chang surveys his kingdom. Android Wear’s product manager, the man most directly responsible for the progress of Google’s wearable platform, is seated at a large conference-room table in Google’s San Francisco office that is fully half-filled with Android Wear devices. No two are alike: seven different models, countless colors and bands. Every color of Sony Smartwatch 3 here, a dozen Moto 360s there. He’s wearing an LG Watch Urbane, and there are two others on the table. There’s a particularly gaudy Huawei Watch, which I can’t stop touching during our meeting. And all this, he says, gesturing around, is just the beginning. (more…)
Business Insider: More than a third of the top tech companies in the US were founded by people born outside of the country. Their success stories drive many immigrants to come to the US in hopes of realizing the American Dream. But just looking at their success makes it easy to overlook the fact that a lot of the immigrant founders had to overcome other problems – from language barriers to financial constraints – to achieve their extraordinary success. (more…)
WIRED: Etsy began its life as a publicly traded company today, entering a new and apparently lucrative era for the online marketplace that once crafted an identity as an artisanal alternative to mainstream marketplaces.
Shares opened at $31, a huge 94 percent surge from its initial public offering price. With stock now trading at over $34 a share, that values the company at close to $4 billion. The company raised $267 million in total.
For many of Etsy’s 1.4 million sellers and 19.8 million buyers, today’s IPO success is likely bittersweet. It represents the culmination of a protracted period of hand-wringing and sometimes bitterness among Etsy’s community of crafters and artists as the company made moves into the mainstream. In the fall of 2013, in a bid to increase revenues, Etsy changed its terms of service to let sellers offer goods outsourced to massive manufacturing partners rather than made by their own hands. This offended some of the site’s early users, who saw the deed as Etsy selling its soul. Some even moved their operations off the site.
But the decision paid off, boosting revenue from $125 million in 2013 to $195 million in 2014. And judging from today’s successful IPO, investors like that trajectory. Yes, $4 billion is still a far cry compared to the valuations of its bigger competitors: eBay ($69 billion), Amazon ($178 billion), and Alibaba ($210 billion). By those comparisons, you might even still call Etsy “niche.”
Still, going corporate could create strain as Etsy tries to negotiate the expectations tied to its original brand identity while satisfying its obligation to all its new shareholders. Signs of that tension appeared even before the IPO. In an unconventional move, the company allotted five percent of its shares to its sellers and other smaller investors, giving them the opportunity to buy as much as $2,500 in stock before the company’s public debut. That reportedly frustrated some institutional investors because it shrunk the pool of shares available to them.
But it’s hard to imagine anyone being too upset now, at least not anyone with Etsy shares. The company is now among that elite club that have pulled off red-hot internet IPOs, the kind of exit more typically expected of buzzy startups like Slack (which, just this morning, raised a $160 million round at a $2.8 billion valuation). It’s especially surprising considering how long Etsy took to get to this point. Instead of rushing to market, its journey into the mainstream took ten years—handcrafted piece by handcrafted piece.
Read more on the topic: TECHCRUNCH
FAST COMPANY: On April 12, 1961, Cosmonaut Yuri Gagarin became the first human in space. Turns out he also inspired one helluva party. For the last 15 years, space enthusiasts around the globe have gathered on or around April 12 for International Yuri’s Night, space-themed events featuring a mixture of education, music, cocktails, and costumes. (more…)
E27.CO: With the rising trend of coworking, remote work, and “workation” retreats, entrepreneurial Millennials from around the world are quickly adopting the location-independent entrepreneurship lifestyle because of the prospect of reduced living costs, exciting new environments, and access to a network of other motivated and interesting creatives and entrepreneurs. (more…)