Temasek Holdings sells Snap shares

Temasek sold its holdings in Snap - the parent company of image messaging app Snapchat - in the second quarter, according to a filing with the Securities and Exchange Commission in the United States.

The Singapore investment company offloaded 300,000 shares valued at US$6.76 million (S$9.22 million), according to a Financial Times report.

This comes after some big-name investors - including hedge funds Third Point and Jana Partners - also sold out of Snap in recent months.

The stock has tumbled since the company went public in March over fears of slowing growth and worries about competition from Facebook's Instagram and WhatsApp.

AI chatbot company launched in real time

An artificial intelligence chatbot company was launched at a "real-time venture building" event organised by start-up builder Startup-O and ETPL, the commercialisation arm of the Agency for Science, Technology and Research.

Called Negobot, the chatbot is designed for use by small and medium-sized enterprises and works across multiple chat platforms.

The company was launched at a closed-door event last Wednesday and participants got a chance to act as a board of directors and guide the core team on key business decisions.

At the end of the event, every participant was given one share in the company.

"The collaboration with Startup-O is a prime example of how ETPL works collaboratively with experienced entrepreneurs early in the start-up formation process," said ETPL chief executive Philip Lim.

One-stop digital solution for retailers

Shopmatic, a Singapore-based e-commerce company providing a platform for any merchant to take their business online, has partnered the Singapore Productivity Centre to create a one-stop solution for retailers looking to scale up their digital commerce capabilities.

The package includes readiness assessment, designing an omni-channel customer journey, implementing the Shopmatic e-commerce solution and transferring digital know-how through application-based training.

The move comes after a Singapore Productivity Centre study last year found that only about 2 to 3 per cent of Singapore retailers' earnings come from mobile commerce and e-commerce.

A version of this article appeared in the print edition of The Straits Times on August 22, 2017, with the headline 'Start@SG'. Print Edition | Subscribe