- Cash Nut
- Posts
- Newme Wants To Be India’s Answer To Shein
Newme Wants To Be India’s Answer To Shein
Cash Nut
May 16, 2023
In Today’s Edition
RevenueHero Bags $5.1 Mn To Enable Businesses With Easy Sales Automation & Lead Conversion
How Fashion E-commerce Startup newme Wants To Be India’s Answer To Shein, Urbanic
BlockFi Claims Against FTX, Alameda 'Largest Driver' of More Than $1B in Asset Recoveries, Firm Says
Comcast will likely sell Hulu stake to Disney at the beginning of 2024, CEO Roberts says
OpenAI readies new open-source AI model
Amazon is building an AI-powered ‘conversational experience’ for search
Could This Be the Final Frontier for Renewable Energy?
How an eBay side hustle became a multi-million dollar business
🚀Startups Nuts
The fund will be used to scale its business across the North American market and to strengthen the team. The startup connects qualified buyers with the right sales representatives directly through enrichment, routing, and scheduling. RevenueHero manages the complexities of scaled marketing and sales workflow of B2B companies.
Newme is building a low-inventory model and staying away from mass-produced designs. 70% of the company’s orders come from non-metro cities, the cofounder said. The platform reaches its customers directly and does not list its products on marketplaces such as Ajio or Myntra.
🏭Business Nuts
BlockFi Claims Against FTX, Alameda 'Largest Driver' of More Than $1B in Asset Recoveries, Firm Says
Some of the largest claims BlockFi has in its bankruptcy proceedings are those of FTX and Alameda, so the overall outcome of its liquidation hinges heavily on the outcome of these claims. According to court filings, the litigation could affect over $1 billion in client repayments
. BlockFi's wind-down plan also lists projected recoveries, including the liquidation of various accounts, with actual recoveries possibly differing significantly. Currently, BlockFi has around $355 million in crypto frozen on FTX and a $671 million loan to Alameda Research. A hearing on the plan is scheduled for June 20.
Disney is more likely to buy Comcast’s 33% stake in Hulu than sell its 66% stake, Comcast CEO Brian Roberts said. A deal will likely value Hulu more than the $27.5 billion valuation floor the companies set in 2019. Comcast and Disney have already held talks about Hulu this year, Disney CEO Bob Iger said last week.
📱Tech Nuts
OpenAI is set to launch a new open-source language model. The company is unlikely to release a model to compete with its own GPT. The growth potential of generative AI has caught the attention of investors in Silicon Valley. Microsoft made a multi-billion dollar investment in OpenAI earlier this year to set the stage for more competition with Google.
Amazon recently listed a job vacancy describing how it is reimagining Amazon Search with a new interactive conversational experience. The new search will have functionalities such as product comparisons and personalized suggestions. Details of the conversational shopping feature have yet to be officially revealed. The launch date for the chatbot is still unknown, but it will likely be soon.
🎁Miscellaneous
The ocean is an important potential source of renewable energy. The Biden administration's Ocean Climate Action Plan recognizes the potential of offshore wind power and less-developed resources like waves, tides, and currents. Even colder waters deep below tropical seas could provide clean marine energy. Offshore wind could generate enough power to make a real dent in carbon emissions. This article discusses several ocean-based renewable energy projects.
💡What else are we reading and seeing?
😎Fun Fact
The world's first stock exchange was founded in Antwerp, Belgium in 1531.
Enjoy The Cash Nut? Consider forwarding it to a co-worker, colleague, classmate, or whoever you think might be interested.
If you have any comments or feedback, respond to this email!
That’s it from our side for today.