Financial Times:
A look at South Korea’s Zepeto, owned by Naver and considered one of Asia’s largest metaverse platforms with 15M-20M MAUs, as it plans a global expansion — Asia’s largest metaverse platform, Zepeto, is stepping up its global expansion as it looks to compete against the Big Tech groups …
New York Times:
A look at South Korean conglomerate Naver’s experiments with a fleet of ~100 office robots, including efforts to make employees comfortable with their presence — Naver, a South Korean internet firm, is trying to introduce robots into the world of cubicles and conference rooms without making employees uncomfortable.
Kathryn Hardison / Wall Street Journal:
South Korean company Naver agrees to acquire Poshmark for $17.90 per share, representing an enterprise value of ~$1.2B; Poshmark stock rose 14%+ after hours — The boards of both companies approved the transaction — Naver Corp. 035420 -1.53%▼ plans to acquire Poshmark Inc. …
TechCrunch:
A look at Snap’s decision to close Zenly, popular in Europe and Asia with a claimed ~35M MAUs earlier in 2022, to “focus on Snap Map”, which has 300M+ MAUs — Snapchat’s parent Snap became the latest tech company to announce a huge round of layoffs, confirming ongoing rumors yesterday …
Even in its infancy, the metaverse has become a buzzword that remains a bit difficult to pin down. So, what exactly is the metaverse, and…
Naoto Hosoda / Bloomberg:
Chip-related stocks slump in Japan, South Korea, and Taiwan after US curbs on China; the PHLX chip index fell to its lowest level since November 2020 on Monday — Chip-related stocks in Japan, South Korea and Taiwan slumped as traders returning from Monday’s holidays reacted …
Mary Ann Azevedo / TechCrunch:
All three founders of online trading service Pipe are stepping down as the company looks for a “veteran” CEO; Pipe raised $250M at a $2B valuation in May 2021 — Co-founder Harry Hurst says, ‘We’re 0-1 builders, not at-scale operators.’ — The three co-founders …
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