LineNext, a web3 unit of the Japanese messaging app Line, raised $140 million in its funding led by Crescendo Equity Partners, a Peter Thiel-backed private equity firm in South Korea, to expand its web3 platform.
The new funding comes nearly a year after LineNext released its browser-only beta service — a consumer-to-consumer(C2C) marketplace launched on its non-fungible token (NFT) platform DOSI.
The company plans to use the new capital to launch its official NFT platform DOSI and web3 services in January next year.
LineNext will also release a new social app allowing users to communicate via AI avatars and launch new Web3 games utilizing Line’s character Brown and Friends.
LineNext Korea manages Web 3 business strategy, while Line Next U.S. operates the NFT platform business.
Read More“Web3 Platform LineNext secures impressive $140M in funding”
Elon Musk’s X, the social media platform formerly known as Twitter, is facing a new privacy complaint in Europe related to its ad targeting tools.
The complaint, which is being lodged with the Dutch data protection authority by privacy rights not-for-profit noyb, accuses X of failing to enforce its own its advertising guidelines.
“After we filed our first complaint in this matter, the EU Commission has already confirmed to stop advertising on X.
“In November, this unlawful use of micro-targeting already prompted noyb to file a complaint against the EU Commission itself.
“It remains to be seen if the Commission may take action against X itself under the DSA,” noyb further added.
Read MoreEU Advertisements Targeting Sensitive Data Draw Privacy Complaint Against Musk’s X
Maka, an African fashion and beauty e-commerce platform, has raised a $2.65 million pre-seed round led by Pan-African venture capital firms 4DX Ventures and Janngo Capital.
She said launching Maka began during the pandemic when she was in Ghana and struggled to find inclusive fashion inspiration.
To address the trust element, Maka leverages videos as a means to connect users with trusted creators.
Notably, the platform offers a review option, allowing customers who make purchases to share their feedback through video reviews, usually between 30 and 60 seconds long.
Furthermore, creators can download their reviews from Maka and share them on other social media platforms, earning additional points for each share.
Read MoreMaka: Simplifying Fashion and Beauty Shopping in Africa – Social Commerce Platform Secures $2.65M Funding
Pan-African e-commerce platform Jumia has disclosed its intention to discontinue its food delivery service, Jumia Food.
As a result, Jumia will cease its food delivery operations across these markets by the end of December 2023.
Jumia is redirecting its focus towards the core physical goods business and maintaining its JumiaPay operations across all 11 markets, as outlined in a recent statement.
Jumia’s decision to discontinue its food delivery business aligns with a broader trend in the industry, mirroring the recent exit of another food delivery competitor, Bolt Food, from Nigeria and South Africa.
Both exits seem to be influenced by current macroeconomic headwinds, high inflation and intensified competition within the food delivery sector across the continent.
Read MoreDiscontinuing Food Delivery: Jumia Shifts Focus to Growing Physical Goods Business in Seven Markets
The investment arm of the UK retail bank M&G has led a funding of $340 million into Udaan, a business-to-business e-commerce startup, in one of the largest financing rounds secured by an Indian startup in 2023.
The Bengaluru-headquartered startup, which helps merchants in smaller Indian cities and towns secure inventories from major brands as well as gain access to working capital, said the new funds include some convertible debt.
Existing backers Lightspeed Venture Partners and DST Global have also participated in the new round, which awaits regulatory nod.
Udaan competes with a number of players, including Mukesh Ambani’s $100 billion Reliance Retail, the largest retail chain in India.
Udaan didn’t share how M&G and other investors valued the startup in the new round.
Read More“Record-breaking Funding: Udaan Receives $340 Million Boost in India”
Qogita – a two-sided ecommerce wholesale marketplace aimed at retailers largely in the health and beauty sectors – has raised €80 million ($86 million) in a Series B round led by London’s Dawn Capital and Accel.
Targeting SME e-commerce retailers businesses that want to deal with a more ‘all-in-one’ wholesale platform, Qogita is not dissimilar to Faire.com in the US (which has raised $1.7 billion to date) and Ankorstore out of France (which has raised €365 million).
In a statement, Norman Fiore, General Partner at Dawn Capital, said: “It is remarkable how complex and completely opaque product procurement still is for small and medium-sized businesses targeting the $6 trillion e-commerce market.
Qogita has built an all-in-one platform to address the entire wholesale procurement process.”Luca Bocchio, Partner at Accel, also added: “The B2B wholesale market in Europe is huge, but also fragmented and complex.
And in April, Ankorstore launched a new membership programme for independent retailers in Europe, removing minimum checkout amounts and waiving heavy/fragile shipping fees, plus a 90 day BNPL offer.
Read More“Retail Revolution: Qogita Secures $86M Series B Funding to Challenge Ankorstore in Europe’s Wholesale Market”
LineNext, a web3 unit of the Japanese messaging app Line, raised $140 million in its funding led by Crescendo Equity Partners, a Peter Thiel-backed private equity firm in South Korea, to expand its web3 platform.
The new funding comes nearly a year after LineNext released its browser-only beta service — a consumer-to-consumer(C2C) marketplace launched on its non-fungible token (NFT) platform DOSI.
The company plans to use the new capital to launch its official NFT platform DOSI and web3 services in January next year.
LineNext will also release a new social app allowing users to communicate via AI avatars and launch new Web3 games utilizing Line’s character Brown and Friends.
LineNext Korea manages Web 3 business strategy, while Line Next U.S. operates the NFT platform business.
Read MoreWeb3 Platform LineNext Receives $140M in Funding
The 2024 Chevy Blazer EV RS first drive: A worthy but pricey all-electric SUV This roomy midsize SUV gets a lot right.
The Chevy Blazer EV will be offered in three trims: the LT, RS and performance SS.
The Chevy Blazer EV RS trim in all-wheel drive is already in production at GM’s factory in Ramos Arizpe, Mexico.
The press drive held in San Diego put reporters behind the wheel of the rear-wheel and all-wheel drive versions of the Chevy Blazer EV RS trim.
Those specs combined with a lower roofline and athletic stance give the Chevy Blazer EV a sleeker appearance than its gas-powered cousin.
Read More“Unveiling the 2024 Chevy Blazer EV RS: An Impressive Yet Luxurious All-Electric SUV”
Twitch announced sweeping updates to its sexual content policy and content classification system, which now allows previously prohibited content like illustrated nipples and “erotic dances,” in addition to clarifying what nudity is and isn’t allowed on the platform.
The framing implied nudity, but never actually showed content that explicitly violated Twitch’s sexual content policies.
Other streamers, who were predominantly male, were enraged by Morgpie’s content and called for Twitch to crack down on the apparent nudity.
The new policy is meticulously detailed and accounts for various situations, but also appears to contradict itself.
By clarifying what is and isn’t allowed, Twitch believes that it’ll be easier for streamers to comply with its policies.
Read MoreTwitch’s Third Policy Unmasks Inked Nips, Excludes Human Unders
LineNext, a web3 unit of the Japanese messaging app Line, raised $140 million in its funding led by Crescendo Equity Partners, a Peter Thiel-backed private equity firm in South Korea, to expand its web3 platform.
The new funding comes nearly a year after LineNext released its browser-only beta service — a consumer-to-consumer(C2C) marketplace launched on its non-fungible token (NFT) platform DOSI.
The company plans to use the new capital to launch its official NFT platform DOSI and web3 services in January next year.
One of the things that sets LineNext apart from its competitors is its global infrastructure and know-how based on its global services, Kim noted.
LineNext Korea manages Web 3 business strategy, while Line Next U.S. operates the NFT platform business.
Read MoreWeb3 Platform LineNext Receives $140M in Funding
