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Foodpanda Parent Company Achieves Breakeven Adjusted EBITDA in Q3 2022

Delivery Hero, the company behind food delivery major Foodpanda, posted around US$2.5 billion in revenue for the third quarter of 2022, a 28% surge co

Delivery Hero, the company behind food delivery major Foodpanda, posted around US$2.5 billion in revenue for the third quarter of 2022, a 28% surge compared to the same period last year. At the same time, its gross merchandise value GMV increased 12% year on year to US$11.7 billion. In line with former guidance, the firms platform business – which includes Foodpandas operations in Asia – broke even in the reported quarter. With this, Delivery Hero aims to raise its EBITDA margin for the period in the range of 1.4% to 1.5% compared to GMV for its 2022 financial year. Read More..

B2B Tech News | 2 years ago          

Global stocks rise after lower US inflation eases interest rate fears

Tokyo and Shanghai also increased, while Hong Kongs benchmark rose 7.7%. According to an analyst, the announcement drove a more dovish calibration of

Tokyo and Shanghai also increased, while Hong Kongs benchmark rose 7.7%. According to an analyst, the announcement drove a more dovish calibration of interest rate expectations. In order to reduce inflation, which is reaching multidecade highs, the Fed and central banks in Europe and Asia are boosting interest rates. Investors are hoping that lower inflation will cause the Fed to scale down its intentions for additional rises. The Communist Party of China vowed to reduce traveller quarantines and make other antivirus strategy reforms. Read More..

B2B Tech News | 2 years ago          

Strict new conversion laws are coming to South Africa

The newly revised EE Act will go into effect in 2023 after receiving the presidents approval. The law intends to facilitate South Africas workplace tr

The newly revised EE Act will go into effect in 2023 after receiving the presidents approval. The law intends to facilitate South Africas workplace transformation and ease company operations for small and mediumsized firms SMEs. Small and mediumsized enterprises SMEs with fewer than 50 employees will no longer be considered designated employers and will therefore not be required to comply. These businesses wont be required to put policies in place to guarantee qualified individuals from specified groups have equal employment opportunities. Read More..

B2B Tech News | 2 years ago          

Sam BankmanFrieds FTX Australia enters administration

The parent company of FTX Australia, FTX Trading, domiciled in the Bahamas, has placed the firm into administration. Its possible that the cryptocurre

The parent company of FTX Australia, FTX Trading, domiciled in the Bahamas, has placed the firm into administration. Its possible that the cryptocurrency exchange utilised more than US$6 billion in customer deposits to finance its own trading tactics through a different business run by Sam BankmanFried. The assets of FTX Digital Markets have been put on ice by the Bahamas Securities Commission. For FTX Australia, administrators KordaMentha have been selected. BlockFi, which is controlled by FTX, stopped accepting withdrawals, and its believed that fellow cryptocurrency exchange Genesis has a significant stake in the firm. Read More..

B2B Tech News | 2 years ago          

GoTo could cut 1,000 jobs due to the economic slowdown

According to Bloomberg, Indonesian computer powerhouse GoTo Group is planning to shed over 1,000 workers as it reduces burn during the current economi

According to Bloomberg, Indonesian computer powerhouse GoTo Group is planning to shed over 1,000 workers as it reduces burn during the current economic crisis, citing people familiar with the matter. According to the sources, the decrease will affect personnel from all functions and will effect around 10% of GoTos workforce. GoTo was founded by a merger of Gojek and Tokopedia. Read More..

B2B Tech News | 2 years ago          

Meta closes Quitter, a tool that shows data on employee attrition and turnover trends as layoffs rock the business

In the midst of Metas largest wave of layoffs to date, Quitter was shut down. On Wednesday, Metas CEO Mark Zuckerberg distributed a memo to all staff

In the midst of Metas largest wave of layoffs to date, Quitter was shut down. On Wednesday, Metas CEO Mark Zuckerberg distributed a memo to all staff members. More than 11,000 employees, or 13% of the companys total, are being let go. Employees who are laid off will receive 16 weeks of base salary plus two additional weeks of pay for each year of service. Read More..

B2B Tech News | 2 years ago          

Japans SoftBank returns to profit as investments pick up

Sales for the quarter increased from 1.5 trillion yen to 1.6 trillion yen $11 billion, up from a loss of 398 billion yen a year earlier, the company r

Sales for the quarter increased from 1.5 trillion yen to 1.6 trillion yen $11 billion, up from a loss of 398 billion yen a year earlier, the company reported. Profits from prepaid contracts using Alibaba shares, a decrease in interestbearing debt, and investment gains were a few of the elements increasing its bottom line, according to SoftBank. More than 4 trillion yen $28 billion in profits were generated by the settlement of prepaid shares in the massive ecommerce company Alibaba. Among the many businesses that SoftBank invests in include mobile carrier SoftBank, web services provider Yahoo, and vehicleforhire business Didi. Read More..

B2B Tech News | 2 years ago          

COP 27 events highlight the power of finance for climate, adaptation in Africa

Humane immigration and fair trade regulations are necessary for reimagining the financial framework for climate change. This was the takeaway from a s

Humane immigration and fair trade regulations are necessary for reimagining the financial framework for climate change. This was the takeaway from a side event of the 27th UNFCCC Conference of Parties in Sharm elSheikh. The Scottish Government and University College London Institute for Innovation and Public Purpose coordinated the event. The Multilevel Action Pavilion is being organised by ICLEI, the focal point of the LGMA Constituency, along with more than 40 other partners at COP 27. Sessions at the Pavilions agenda will focus on how local and regional organisations can take successful action at various levels of governance. Read More..

B2B Tech News | 2 years ago          



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1.  Global online sales are predicted to reach 22% of all retail sales in 2023.
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2.  Global tablet shipments are expected to hit 142 million by 2025, reports Statista.
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3.  Artificial Intelligence is expected to contribute $15.7 trillion to the economy by the year 2030.
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