Company Briefs : Bytedance
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Bytedance
Bytedance has shut down a game development studio it acquired just three years ago, slashing more than a hundred jobs in a major setback for its quest to challenge Tencent Holdings in mobile gaming.
TikTok's Chinese owner disbanded its 101 Studio in Shanghai this week, letting about half of the 300-plus workers go and offering internal transfers to the rest, according to people familiar with the matter.
101 Studio had been one of a handful of key game-development houses that ByteDance had bet on to power its expansion into businesses beyond its core short-video business.
BLOOMBERG
TSMC
A Taiwan Semiconductor Manufacturing Co (TSMC) executive said at a conference yesterday that the world's biggest chipmaker will have the next version of ASML's most advanced lithography tool in 2024.
"Looking ahead, TSMC will bring in high-NA EUV scanners in 2024 to develop the associated infrastructure and patterning solution needed for customers to fuel innovation," said TSMC senior vice-president YJ Mii, who did not say when the device, the second generation of extreme ultraviolet lithography tools needed to make smaller and faster chips, would be mass produced.
REUTERS
Klarna
Swedish payments firm Klarna Bank is looking to raise less capital than earlier planned and at a much lower valuation of US$15 billion (S$20.8 billion), the Wall Street Journal reported citing sources.
The company is in talks with investors about fresh funds totalling at least US$500 million, which is about half its earlier ambition to raise up to US$1 billion, according to the newspaper. The deal would value the buy-now-pay-later provider at considerably lower than the US$46 billion valuation quoted 12 months ago and the US$30 billion discussed last month.
BLOOMBERG
