Business
ThreadUp narrows losses in Q1, sales rise
Online resale platform ThredUp reported first quarter revenue of 79.6 million dollars, an increase of 5 percent year-over-year. Gross profit for the quarter totaled 55.3 million dollars, up 8 percent, while gross margin rose to 69.5 percent. Net loss contracted to 16.6 million dollars or a negative 20.8 percent, while adjusted EBITDA loss...
Business
Amazon set to invest 9 billion dollars in Singapore
Amazon said Tuesday it would invest 9 billion USD in Singapore over the next four years to expand its cloud computing capabilities in the city. The announcement comes after fellow tech titan Microsoft unveiled billions of dollars of investment in the same sectors in Southeast Asia last week as firms look to take advantage of growing demand in...