Music scouting platform Instrumental secures Tencent backing October 27, 2020 A British music scouting firm that uses algorithms to discover new artists is said to have secured fresh investment from Chinese tech giant Tencent. Instrumental is set to announce the strategic partnership, which will see Tencent take a minority stake in the company, as early as tomorrow, Sky News reported. The deal will come as [...]
Monzo close to deal with Alphabet for up to £500m funding round: report November 19, 2023 Alphabet, the parent company of Google, is reportedly in talks to acquire a major stake in digital bank Monzo in a boost for Britain’s fintech sector.
London-listed fintech says New York will become its ‘natural home’ after US share sale January 21, 2024 The boss of a top London-listed fintech has said New York is likely to be the "natural home" for the firm going forward, in a blow to London as it works to bolster its capital markets.
Monzo set to finalise new £500m fundraising in deal with top tech investor April 28, 2024 Digital bank Monzo is in the process of finalising a new expanded fundraising with major tech investor Hedosophia, according to reports.
SoftBank executive steps back from key roles after record losses August 31, 2022 SoftBank’s executive Rajeev Misra has stepped down from his roles as corporate officer and executive vice president as the investment giant reels from record losses this year.
Fortnite rival PUBG cuts ties with China’s Tencent in India September 8, 2020 The owner of Playerunknown Battlegrounds, also known as PUBG, is to sever a publishing deal with Chinese giant Tencent for its game in India, in an effort to get around the government’s ban of its app in the country. South Korean firm PUBG Corporation said today it will no longer give Tencent Games the rights [...]
Tencent profit beats expectations as Wechat ban looms August 12, 2020 Tencent today said it has smashed expectations for second-quarter revenue and profit as the Chinese tech giant enjoyed higher demand for its video games during the Covid-19 lockdown. The world’s largest video game company posted revenue of 114.9bn yuan (£12.7bn) in the three months to the end of June — an increase of 29 per [...]
Chinese tech giants including TikTok owner reveal algorithms amid scrutiny August 16, 2022 A string of Chinese tech giants have been pushed to share details of their algorithms with Beijing’s cyberspace watchdog amid increasingly scrutiny in China. Some 30 companies, including Alibaba, Tencent and TikTok-owner ByteDance, today had descriptions of their algorithms published by the Cyberspace Administration of China. The Chinese regulator is expected to regularly update the [...]
Spotify hits record half a billion monthly users and forecasts future revenue to soar April 25, 2023 The number of monthly active users on Spotify passed the half a billion milestone for the first time, the music streaming platform reported today. The number of monthly active users rose 27 per cent to 515 million in the first quarter of this year, 15 million more than the company’s estimates. Premium subscribers also grew [...]
Global top 50 companies: UK absent as American tech triumphs April 22, 2024 There are now no UK companies among the top 50 largest listed companies in the world, as the British economy has struggled to compete with the dominance of American tech firms.