Every day, 100k+ smart people read our newsletter. You can sign up here.
Hello readers,
I’ve always preferred words to numbers – I didn’t do too well in math in school – but over time, I’ve come to realize that you can glean lots of interesting truths from figures.
(I found that out in particular while playing Football Manager.)
An analysis of the latest financial statements from classifieds marketplace Carousell shows that while its consolidated revenue for 2019 has grown, its net loss also swelled by over 60%, driven by increased operating expenses. Nevertheless, Carousell ended the year with US$80.5 million in cash and cash equivalents – up from US$55.4 million in 2018. That and a variety of other reasons paint an optimistic future for the company.
Check out the full analysis or scroll down for a quick summary.
Your quick bytes for today:
1️⃣ PropertyGuru raises US$220 million
The Singapore-based proptech company says it plans to use the new funds to accelerate its growth across all of its key markets. Strategic areas of growth include its data capabilities, its recently launched mortgage marketplace PropertyGuru Finance, and its end-to-end sales enablement solution PropertyGuru FastKey.
2️⃣ Apple and Google partner to fight against Covid-19
The two smartphone rivals are moving ahead with the next stage of their contact-tracing technology by integrating it more directly into their mobile operating systems, a step that’s aimed at promoting adoption of the notification tool Exposure Notification Express. The app allows users to opt into a system that can catalog the other phones – and, effectively, their users – that they have been in proximity to.
With the new system, iPhone users will no longer need to download a separate public health app in order to opt into the contact-tracing feature, while Android users will be prompted to download an app that Google will create on behalf of public health officials.
3️⃣ Houston, we have a problem
Berlin-based Rocket Internet, which incubates and invests in internet and technology companies globally, plans to delist from the stock market, saying that the importance of public markets as a fund-raising tool has diminished.
Steady progress for Carousell
The curtain falls on an Indonesian pioneer
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.
