?? Vertical farming lands as fast fashion IPOs...
STOCKS & STARTUPS
Chinese fast-fashion company Shein seeks US IPO as soon as 2024.
Shein, the $100B Chinese fast fashion giant is aiming for an initial public offering on US?markets as soon as 2024.?Read more.
So what??The fast fashion behemoth says it's cleaning up its act. But will anyone buy it? Shein has faced criticism over how workers are treated at plants that manufacture apparel for the company and so faces environmental, social and governance, or ESG, concerns that could be an obstacle to an IPO.
Retail investors get the chance to join floats.
Retail investors will be able to take part in all types of fundraisings under sweeping proposals designed to shake up City rules and help London compete with stock markets overseas.?Read more
So what? This is huge! Private investors are often penalised when companies look to raise money quickly through placings that target institutions because the stakes of individual shareholders who aren't allowed to participate are automatically diluted by these type of?deals. Placings are also typically priced at a discount, meaning retail investors miss out on the opportunity of buying cut-price shares. A big win for retail?investors!
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TECH & WEB3
Wait, is Snapchat competing with Zoom?
Snap dropped Snapchat for Web so paying subscribers can keep their convos going on in their browser.
Snapchat for Web will initially be available only to subscribers of Snapchat+, its new $4/month subscription?and only in the US and some other English-speaking countries. The site will launch as a stripped-down version of the app, focused on chats and video calls.?Read more.
So what? Snap stock is down 70% this year after it said it would miss its earnings guidance for its latest quarter. In May, Snap warned of slowing growth, so it’s now trying to spark engagement with its core user base...
Snap says it’s used by more than three-quarters of 13?to 34-year-olds in key markets (US and UK) and they assume that these?groups are more likely to Snap between classes and Zoom meetings. So, Snap's aim is to be?a tab you always have open during your workday, and its key rivals - TikTok and Instagram - already have web offerings.
Meanwhile, Microsoft is launching a Facebook rip-off inside Teams - complete with Instagram-like stories.
10 years ago Microsoft completed its?$1.2 billion purchase of Yammer, an enterprise-focused social networking platform. Despite a?big Yammer overhaul in 2019, Microsoft has been increasingly focused on Teams and its new?Viva platform?as the hubs of communication in workplaces.
领英推荐
And now, Microsoft is now launching Viva Engage, a new Facebook-like app inside Teams that encourages social networking at work.?Read more.
So?what??Ultimately, Viva Engage offers yet another way to create a community within an organisation. It’s hard not to imagine that Viva Engage was created with Facebook Workplace in mind, or "Workplace from Meta"?as it’s now branded, as?Microsoft has been increasingly wary of Meta’s push into enterprise, and the pair are increasingly?on a collision course for metaverse competition?in a race complete with?3D avatars and immersive meetings.??
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BUSINESS, LEADERSHIP & CULTURE
The largest vertical farm in the world has opened in Dubai.
The 330,000+-square-foot facility has the capacity to produce over 2 MILLION pounds of leafy greens annually.?Read more.
So What??After years of laboratory testing, companies are now racing to scale up their operations for commercial production of plants. In comparison to the traditional farming practices, vertical farming is sustainable and has lower water and energy requirements.The hydroponic facility is designed for continuous output of leafy green crops that are exceedingly clean and require no pre-washing, are always grown without pesticides, herbicides or chemicals. ECO 1 uses 95% less water than field-grown produce while guaranteeing an output of three tons per day - is the future of farming already here?
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Fact of the day
Half of TikTok users have made a purchase after watching LIVE content, according to a 2021 study.?
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