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The Resurgence of Enterprise SaaS Investments in Unlikely Places

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Thus, SaaS startups are not category-specific, instead sharing a business model approach more than any particular industry focus. Among myriad SaaS startups, those focused on selling to business clients — a group often called enterprise SaaS — are a magnet for venture capital. Since then, investment into enterprise SaaS startups has slowed. Enterprise SaaS startups raised $21.9 billion, $45.0 billion, $55.1 billion and $58.3 billion in 2017, 2018, 2019 and 2020, respectively. Perhaps a rate cut or two and a strong enterprise IPO are the tonic required to really reignite venture investment into enterprise SaaS.

“Rivian Implements Workforce Reduction Amid Increasing Pressure on EV Pricing”

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This is the third round of layoffs for the EV company since July 2022 when Rivian cut 6% of its workforce. On a full-year basis, Rivian reported revenue of $4.4 billion, up from $1.66 billion in 2022. It brought in about $39 million in the fourth quarter and $73 million for the full year from the sale of regulatory credits. On an adjusted basis, it reported a loss of $1.1 billion compared to a $1.5 billion loss in the same year-ago period. “We took significant steps towards driving greater efficiency in 2023 gross profit per vehicle improved by approximately $81,000 when comparing the fourth quarter of 2023 to the fourth quarter 2022,” Scaringe said on an earnings call Wednesday.

“Tesla Predicts Significant Decline in Electric Vehicle Sales by 2024”

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Tesla reported operating income of $2.06 billion in the fourth quarter, a 47% decrease from the same year-ago period. Tesla spent $1.1 billion on research and development in the fourth quarter, a 35% from the same period last year. Tesla was able to claw back some of its automotive industry-leading margins in the fourth quarter, thanks in part to a push to further reduce costs. Energy GrowthWhile Tesla was cautious about vehicle growth in 2024, the company remains bullish on the growth of its energy storage business. Storage deployments were up 125% year-over-year, even with a slower fourth quarter.

Deemed “Significantly Reduced”: Tesla Predicts Decrease in Electric Vehicle Sales for 2024

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Tesla says EV sales growth may be “notably lower” in 2024 The automaker's earnings show a company at a profit-growth crossroadsTesla’s strategy to drive sales through price cuts combined with the cost of bringing the Cybertruck into production put pressure on profits in the fourth quarter, according to earnings reported Wednesday. Tesla reported operating income of $2.06 billion in the fourth quarter, a 47% decrease from the same year-ago period. Tesla spent $1.1 billion on research and development in the fourth quarter, a 35% from the same period last year. Energy GrowthWhile Tesla was cautious about vehicle growth in 2024, the company remains very bullish on the growth of its energy storage business. Storage deployments were up 125% year-over-year, even with a slower fourth quarter.

Potential Decline in Tesla EV Sales Projected for 2024

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Tesla says EV sales growth may be “notably lower” in 2024 The automaker's earnings show a company at a profit-growth crossroadsTesla’s strategy to drive sales through price cuts combined with the cost of bringing the Cybertruck into production put pressure on profits in the fourth quarter, according to earnings reported Wednesday. Tesla reported operating income of $2.06 billion in the fourth quarter, a 47% decrease from the same year-ago period. Tesla spent $1.1 billion on research and development in the fourth quarter, a 35% from the same period last year. Tesla was able to claw back some of its automotive industry-leading margins in the fourth quarter, thanks in part to a push to further reduce costs. Analysts had expected the company to earn around $25.62B billion in revenue in the fourth quarter of 2023, according to Yahoo Finance data.

Decline in Tesla’s Solar Panel Installations, Yet Battery Sales are Soaring

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Tesla’s once-leading solar business is in decline, according to the latest figures from its fourth-quarter 2023 earnings report. Crucially, the automaker revealed that its solar deployments cratered 36% to a total of 223 megawatts (MW) last year, down from 348 MW in 2022. In Q4 2023, Tesla’s solar deployments dropped 59% year-over-year to 41 MW — down from 100 MW in Q4 2022. However, Tesla’s energy generation and storage business is comparatively booming (surprise, surprise). The company said its 2023 energy storage deployments — which include Powerwall home batteries and utility-scale Megapacks, topped 14,724 megawatt hours (MWh), up 125% from the year earlier.

out Brex Lays Off 20% of Employees Amidst Stagnant Growth and Burnout Concerns

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Expense management startup Brex, which was valued at $12.3 billion two years ago, laid off 282 people, or about 20% of its staff today. The once high-flying fintech startup sent a note to employees (that was also published on the company’s website) today, announcing the news. In addition, Brex announced that its COO, Michael Tannenbaum, is transitioning from his role to become a board member. It is not clear how many employees Brex has today, though its layoff indicates the figure at around 1,400 before its latest cuts. But that growth has since slowed, largely due to the hike in interest rates and resulting slowdown in VC funding.

“TikTok’s Workforce Reduction: 60 Employees Let Go”

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TikTok is the latest tech company to mount another round of layoffs in an increasingly bleak January. According to NPR, which broke the news, TikTok cut about 60 jobs, mostly in sales and advertising. Since then, TikTok users have complained that their For You Page is overrun with videos from creators seeking to make affiliate commissions by promoting products from TikTok Shop. Across social platforms and other consumer tech products, layoffs have been rampant so far this year. Google has laid off hundreds of employees in hardware and advertising sales, plus another hundred employees at YouTube.

Is TikTok Shop Responsible for the Decline in TikTok Usage?

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Now, new data indicates that TikTok’s growth has started to slow, begging the question if the app’s move into e-commerce via TikTok Shop is to blame. According to new data from market intelligence firm Sensor Tower, while TikTok’s growth remains positive, that growth is decelerating. The change comes on the heels of TikTok’s launch of TikTok Shop in the U.S. While TikTok users are adapting to their favorite social network turning into an online mall, TikTok’s Shop Seller app, which powers its e-commerce initiative, has grown. However, users aren’t yet so upset with TikTok Shop as to abandon the app for Instagram Reels.

iPhone 15 dominates with 50% of Apple’s India smartphone shipments

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The iPhone 15 and its many iterations comprised more than half of Apple’s Q4 smartphone shipments of nearly 2.8 million units in India, Canalys said in its quarterly report. Apple started selling the iPhone 15 series in India in the first batch of its availability in September. Nonetheless, Apple is becoming a familiar brand in the Indian smartphone market and is rapidly growing its local presence. However, the country saw a minimal 2% yearly drop, with 148.6 million smartphone units shipped in 2023. “Canalys expects the Indian smartphone market to grow by mid-single digits in 2024, driven by affordable 5G and the pandemic period replacement cycle.