Tech Digest with ITS: Singapore-based ‘Web3 development stack’ secures $6m
Chainstack, a Singapore-based company, offers tools and services for Web3 developers to create, deploy, and scale blockchain applications without the need to manage the underlying infrastructure. The company recently raised $6 million from investors including SBI Ven Capital, Sygnum, Azimut Group, and Unicorn Factory Ventures. The funds will be used to enhance user interaction, automate processes, and set new industry standards in performance, reliability, developer support, and cost-efficiency. Chainstack currently partners with more than 25 public blockchains and serves over 100,000 Web3 developers. It boasts a monthly handling of over 100 billion requests with a 99.99% uptime. The company has experienced significant growth, with a 62% average increase in annual net billings over the past two years and a 40% rise in paid customers from January to March 2024 compared to the same period last year.
Vietnamese tech giant VNG's subsidiary, GreenNode, has partnered with Nvidia to provide Nvidia H100 Tensor Core GPUs to business clients in Southeast Asia. This partnership aims to accelerate the adoption of high-performance AI models in Southeast Asia, India, Australia, Japan, and Korea. Other Southeast Asian countries, including FPT and Indonesian telco Indosat Ooredoo Hutchison, have also partnered with Nvidia to invest in AI-related projects. In addition, VNG has collaborated with STT GDC to develop data center projects in Ho Chi Minh City, enabling direct peering connections to VNGGames and VNG Cloud at STT VNG Ho Chi Minh 1.
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Shopee saw increased revenue and gross merchandise value in Q1 2024. To sustain growth, the company focuses on building a competitive advantage, particularly in logistics. Over half of Shopee's orders in Asia are fulfilled by its in-house logistics arm, SPX Express, and in Brazil, it serves over 70% of orders. By handling logistics internally, Shopee reduces costs and maintains control over service quality. The company also reported a 23% decrease in spending on sales and marketing, attributing it to improved marketplace performance and better unit economics from livestreaming. Shopee has invested in its livestreaming business and has become Indonesia's largest livestreaming ecommerce platform in Q1. Additionally, Shopee has actively recruited creators to its platform, aiming to enhance its social commerce capabilities and compete with TikTok Shop.
TikTok creators in the US have filed a lawsuit to appeal the potential ban of the app, citing concerns over limited free expression. This follows a successful legal effort in 2020 when a group of creators challenged a previous ban. The legal battle adds to the ongoing tension between the US and Chinese governments over data and tech company interests. ByteDance, TikTok's parent company, has argued against selling the app, stating practical and legal challenges. There have been suggestions that ByteDance may consider leaving the US market instead.
Shopee saw increased revenue and gross merchandise value in Q1 2024. To sustain growth, the company focuses on building a competitive advantage, particularly in logistics. Over half of Shopee's orders in Asia are fulfilled by its in-house logistics arm, SPX Express, and in Brazil, it serves over 70% of orders. By handling logistics internally, Shopee reduces costs and maintains control over service quality. The company also reported a 23% decrease in spending on sales and marketing, attributing it to improved marketplace performance and better unit economics from livestreaming. Shopee has invested in its livestreaming business and has become Indonesia's largest livestreaming ecommerce platform in Q1. Additionally, Shopee has actively recruited creators to its platform, aiming to enhance its social commerce capabilities and compete with TikTok Shop.
Co-Founder of Altrosyn and DIrector at CDTECH | Inventor | Manufacturer
10 个月Your mention of weekly tech news updates is a fantastic way to keep everyone informed about the latest in digital advancements. Historically, IT outsourcing has been pivotal in scaling operations efficiently, with companies like IBM and Accenture setting benchmarks in the 90s. Similarly, Icetea Software's modern approach could leverage AI to predict project risks and optimize resources. Considering this, what do you think about the integration of predictive analytics in IT outsourcing? For instance, if we imagine a scenario where a company needs to manage an international software development team with varying time zones and skill levels, how would you apply predictive analytics to ensure seamless project delivery? Your thoughts?