Kunal Bahl, the former CEO of Snapdeal, recently advocated for the use of native languages in business settings. He shared a personal anecdote of a startup founder who hesitated to present in Hindi, which Bahl found surprising. Bahl stressed the importance of authenticity and ease of communication in one’s native language, arguing that it should be the primary priority over speaking English.
North Korean hacking groups have been relentlessly targeting South Korean defense companies for over a year, breaching their networks and stealing technical data. This ongoing cyber offensive has been attributed to Lazarus, Kimsuky, and Andariel, groups linked to North Korea’s intelligence apparatus.
The Trade Desk, a global advertiser, has partnered with foodpanda, a leading food and grocery delivery network in Asia. This collaboration will enable brands to reach their target audience and implement digital advertising on the open internet across seven markets: Hong Kong, Malaysia, Pakistan, Philippines, Singapore, Taiwan, and Thailand.
British sportswear retailer JD Sports Fashion has announced a proposal to acquire American athletic-fashion retailer Hibbett Inc for approximately $1.08 billion. This move aims to expand JD Sports’ presence in the southeastern United States.
Japanese retail giant Seven & i Holdings announces plans to accelerate the global expansion of its 7-Eleven convenience store chain. The company aims to boost the number of stores by 18% to about 100,000 by 2030 and expand its presence to 30 countries and regions. This expansion is part of a broader restructuring strategy, which includes divesting from underperforming supermarket assets.
The Supreme Court intensified its scrutiny of deceptive advertising, emphasizing the need to protect vulnerable groups such as children, babies, and women. The court expressed alarm at the Union government’s lax oversight and urged immediate action to safeguard these populations from misleading marketing practices. The ongoing case against Patanjali Ayurved has been expanded to include key government ministries and state licensing authorities to ensure comprehensive evaluation of advertising regulations.
Vietnam’s FPT will establish a $200 million AI factory utilizing Nvidia’s technology to bolster AI research and develop applications in fields such as generative AI and autonomous driving. The partnership aims to transform Vietnam into an AI hub.
SAP’s Q1 FY24 earnings showcase continued progress in its cloud migration and business pivot to AI. Cloud revenues surged 25% year-over-year, with SaaS/PaaS sub-segments leading the way. However, the company’s stock appears fully valued at current levels, offering limited upside potential. SAP’s transformation towards a more cloud-focused model remains on track, but customer adoption of its cloud offerings and the impact of ongoing restructuring expenses warrant further monitoring.
Reddit’s much-anticipated IPO brought a wild first month, with the stock soaring after its debut and then nose-diving to its current price. While IPO investors are still in the green, peak buyers are facing significant losses. Analyst coverage is split, with some seeing the stock as a ‘Strong Buy’ due to its unique platform, while others caution about its advertising challenges. Reddit’s metrics, including daily active users and average revenue per user, are trending positively, but its ARPU lags behind peers like Meta. The company is working to improve its monetization strategy and has been successful in attracting larger brands as advertisers. Reddit is on track to achieve GAAP profitability within the next 12 months. However, risks remain, including the potential for the company’s advertising machine to underperform and the expiration of lockup periods. Despite the risks, Reddit’s long-term growth potential remains significant, especially if it can capitalize on industry tailwinds and its unique niche status.
Japanese Finance Minister Shunichi Suzuki has warned that Japan may take action to stabilize the yen against excessive weakness, following a meeting with his U.S. and South Korean counterparts. This marks the strongest signal yet from Japan regarding potential intervention in the currency market.
