In today’s briefing:
- Singapore-Based Glints Lays off 18% of Employees
- What Is ChatGPT and What Does It Bring to the Table?
- Osome Rakes in US$25M Series B to Grow Its Accounting Solutions Beyond SG
- Malaysian Earned Wage Access Startup Paywatch Bags US$9M for Philippines, HK Expansion
Singapore-Based Glints Lays off 18% of Employees
Glints, a Singapore-based careers platform, is laying off employees “based on market conditions and business priorities,” the firm’s co-founder Oswald Yeo said in his address to staff.
- The development comes after the startup raised US$50 million in a series D funding round in August.
- In the same month, the firm claimed that its annual revenue and gross profits grew 2.5x over the past 12 months.
What Is ChatGPT and What Does It Bring to the Table?
- OpenAI, a US-based AI firm set up by Elon Musk and Sam Altman, released the preview version of a chatbot model called ChatGPT (Chat Generative Pre-Training).
Immediately, the model took the internet world by storm, as the chatbot produced accurate, human-like answers (most of the time) to questions and commands.
- In a nutshell, the model was trained using a form of supervised fine-tuning called reinforcement learning from human feedback (RLHF).
Osome Rakes in US$25M Series B to Grow Its Accounting Solutions Beyond SG
Osome helps SMEs set up through a simple platform with easy-to-use software and an expert accountant to take care of financial admin
- Singapore-based Osome, which has developed an accounting and corporate compliance app for small and medium enterprises (SMEs), has raked in US$25 million in a Series B round
- The firm plans to expand its Asia operations, primarily in Singapore and Hong Kong
Malaysian Earned Wage Access Startup Paywatch Bags US$9M for Philippines, HK Expansion
Paywatch claims its solution has reached a 50 per cent engagement rate among its Malaysian users this year.
- Paywatch, an earned wage access (EWA) service provider operating in South Korea and Malaysia, announced a US$9 million pre-Series A financing
- Paywatch will utilise the money to grow its product offerings, strengthen its presence in existing markets, and accelerate expansion into new markets
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