Here’s what you should know today.

1. Germany’s Hubert Burda Media to fix Southeast Asia’s series B funding gap

What is Hubert Burda? The print and online media company employs over 10,000 people globally and reported a revenue of $2.35 billion in 2015.

The firm’s investment arm, Burda Principal Investments, has started a dedicated investment team in Singapore.

The company’s priority is to foster more successful exits for startups in the region.

Deal sizes will be flexible but the company is looking for an average of US$5 million per deal. So far, BPI’s investments in Southeast Asia haven’t focused on specific verticals, but will focus on the B2C segment.

Read the rest of the story here.

 

2. Android users, you can now send and request money via Gmail

Users of the Gmail app on Android will be able to send or request money with anyone, including those who don’t have a Gmail address, with just a tap.

Source: Techcrunch

The user experience has been designed to make exchanging money as easy as attaching a file

The entire experience takes place on the Gmail app, and the user can simply tap the attachment icon, choose either “send” or “request” money. A pop-up window appears and the user can input the amount, add a note and simply press send.

This could be useful for those times where the money is already a topic of an email conversation, for example, planning a vacation. Currently available only in the US.

Read the rest of the story here.

 

3. Another US brick and mortar staple feels the ecommerce effect

It’s currently tough times for Urban Outfitters. Amid a bout of sales turmoil, the company has been removed from the stock market index, S&P 500. Last week, Urban Outfitters released a disappointing quarterly earnings report.

Lagging sales at brick and mortar locations have prompted Urban Outfitters to focus more and more on online retailing.

Sales over the internet increased at a double-digit pace last quarter, but that news isn’t actually as good as it sounds. High delivery expenses and other logistical costs have eaten into the company’s profits.

Slumping store sales, a problem that retailers in general are dealing with, seem to be causing the company’s biggest problems.

Read the rest of the story here.

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