Ecosystem Roundup: Zilingo nears debt settlement; foodtech startup Gobble shutters; Alphabet, Spotify lay off employees

Zilingo co-founder Ankiti Bose

Zilingo distributes technology, product, IP units to Swiss startup Buyogo
Fashion e-commerce firm nears debt settlement; This comes just days after Zilingo appointed EY as provisional liquidator to wind up the firm; Buyogo is a SaaS startup focused on digital e-commerce solutions for SMEs.

Ex-Deliveroo executives’ food ordering company Gobble shutters
Its co-founder Domenico Tan shared on LinkedIn that Gobble’s B2C model was “not sustainable” to have survived for long; The executive also shared that even with Gobble’s high sales volume, margins were still too low.

Two Singaporean PEs join forces to launch $700m tech fund USD
CSP Fund II, formed by Capital Square and Basil Technology Partners, will focus on SaaS, AI, data analytics and digital sub-sectors; The fund raised capital from HarbourVest Partners, TPG NewQuest and Committed Advisors.

Japan’s MUFG Bank reinforces SEA focus, positive on ID fintech
The bank has internally committed US$500 million. or more for equity investments to Asia including India and SEA; In March 2022, MUFG launched a Ganesha fund of 300 million. USD to invest in mid to late stage Indian startups.

The Indonesian e-commerce facilitator Desty raises DKK 4.35 million. USD
The investors include East Ventures, Z Venture Capital and BAce Capital; Desty helps sellers, creators and influencers promote and sell their products online.

Google parent Alphabet will cut 12,000 jobs
The cuts account for about 6% of Alphabet’s total workforce; According to CE Sundar Pichai, the cut will cut across product areas, functions, tiers and regions.

Spotify is set to cut jobs this week
While the exact number of layoffs was undisclosed, the music streaming giant has nearly 9,800 employees, as reported in its third-quarter earnings; In 2022, Spotify let go of 38 employees from its Gimlet Media and Parcast podcast studios.

Genesis crypto lending entities file for bankruptcy protection
The application includes parent company Genesis Global Holdco and two of its lending business subsidiaries; Genesis has over 150 million USD in cash that it plans to use to support its ongoing operations and restructuring process.

SoftBank-backed Swiggy to lay off 380 employees
The Indian food delivery startup cited the current macroeconomic slowdown and over-hiring for the restructuring; Contrary to Swiggy’s forecasts, the growth rate of food delivery has slowed.

SG is investigating Gorilla Mobile for temporary suspension of services
The Infocomm Media Development Authority said under Gorilla’s license terms, the company must secure approval from the government body before discontinuing services.

How corporate innovation in Vietnam is developing the B2B startup ecosystem
Zone Startups contributes to Vietnam’s push to leverage its well-known software outsourcing industry for a burgeoning B2B startup ecosystem.

Gives a boost to the business through financial automation
The first step in your digital economy transformation should be to evaluate where you are currently and proceed to implement a solution.

Bitcoin vs Altcoins: Which is the Best Investment?
This article dives deeper and compares Bitcoins and Altcoins and to find out which could be more beneficial.

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After Ecosystem Roundup: Zilingo Nears Debt Settlement; foodtech startup Gobble shutters; The post Alphabet, Spotify laid off employees appeared first on e27.

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