In Australia and New Zealand, a venture downturn isn’t the end — It’s time to shine

Australia and New Zealand are a far cry from Silicon Valley, yet the problems and circumstances of their venture environments tend to be similar in nature. Megadeals are rarer today, early-stage funding is up, valuations have come back to earth, and investors are encouraging their portfolio companies to demonstrate a sustainable business with a clear … Read more

Samsung’s profit still low in third quarter as chip downturn continues

Samsung is the world’s largest memory chip maker and its performance is a barometer for the entire sector. Samsung Samsung said on Wednesday in its preliminary earning guidance for the third quarter that it expected operating profits to fall by 77% from a year ago, as the downturn in the chip market continued. The South … Read more

Dawn Capital defies venture capital downturn with $700 million fund

Malte Mueller | Fstop | Getty Images Dawn Capital, one of Europe’s biggest backers of business-to-business software companies, raised $700 million in two new funds — doubling down on its bid to find technology champions in the region at a time when venture capital funding for tech startups has dwindled. The London-based VC firm is … Read more

How a frugal strategy helped land Lula extra runway amid a market downturn

It was an eventful week in fintech startup land, and we did our greatest to seize the highlights. We lined some raises, new product traces, at the very least one M&A deal and extra. Oh, and if you wish to obtain this in your inbox sooner or later, join right here. Lula tightens its belt … Read more

Samsung’s Q2 revenue drops 95% as chip downturn continues

Corinne Reichert/ZDNET Samsung’s working revenue nosedived within the second quarter from the heavy losses incurred by its chip division however stable performances from its different companies allowed the corporate to stay worthwhile. The South Korean tech big mentioned it recorded 60 trillion gained in income and 0.67 trillion gained in working revenue, a drop of … Read more

Samsung’s revenue hits 14-year low once more as chip downturn continues

Samsung is the world’s largest reminiscence chip maker. Samsung Samsung recorded its lowest working revenue in 14 years for its April to June quarter this 12 months because of the continued downturn of the reminiscence chip market. The South Korean tech large mentioned in its earnings steerage that it recorded 60 trillion gained in income … Read more