The announcement came as Musk has been struggling, amid frequent controversy, to make Twitter profitable.

Low insurance penetration in the country indicates that the market is still very wide and open for further expansion.

Industry insiders say the increasing role of institutions marks a natural progression for peer-to-peer (P2P) lending, but analysts point to possible liquidity risks.

One of the driving forces behind the cashless payments trend is the central bank's effort to provide the infrastructure, such as through QRIS and BI-FAST.

Asking ChatGPT for investment advice has become a trend lately, with many users assuming perhaps that the bot’s ability to sift through lots of information almost instantaneously makes it perfect for finding the best path through the complex financial jungle.

A survey conducted by Boston Consulting Group in collaboration with Indonesia’s AC Ventures shows that financial technology users are having a hard time choosing which app to rely on.

China is ramping up efforts to develop home-grown semiconductor talent as it seeks to rapidly fill a shortage of expertise that has been made worse by US efforts to limit Beijing's access to advanced chip technology.

PT Bukalapak.com has posted a full-year net profit of Rp 1.9 trillion (US$1.2 billion) for 2022, but that was mostly owed to a strong first quarter thanks to unrealized investment gains.

The investment, which was completed a year after a failed IPO, is aimed at helping Kredivo with existing business operations and support its move into digital banking.

A weak cash position and aggressive competition make the journey a hard one for Indonesia’s biggest tech firm, analysts say.

As Indonesian companies rise to make a global impression, threats abound that can hinder seemingly precarious growth, including common ones like fraud. Luckily, this issue is no stranger to founder and CEO Edwin Budiman of ED-SEN Consulting.

The state preemployment card program has contributed close to Rp 240 billion (US$15.6 million) in non-tax revenue in the three years since it was established, the program’s supervisors have said.

IBM views its business partners as a critical part of the ecosystem and therefore, it enhances its engagement, provides partners with access to resources, incentives and tailored support to thrive and evolve.

Homegrown start-up Waste4Change signed seven business agreements worth a total of US$16.1 million on Wednesday, as more firms seek to take advantage of its waste management systems.

The Association of Indonesian Venture Capital and Start-ups (Amvesindo) revealed on Monday that the number of active venture capital (VC) firms is decreasing but the combined assets they manage have been consistently rising up to the end of 2022 to Rp 25 trillion (US$1.6 billion).

The fact that trillions of dollars were wiped off tech company valuations around the world last year reflects a profound reassessment of the industry, where growth alone will no longer cut it.

As liquidity shrank, investment bankers demanded a more concrete path to profitability from tech companies.

Global venture capital (VC) fundraising tumbled by a double-digit percentage in 2022, and some insiders see the next few years as the night of the living dead, where zombie VC firms would arise.

The business-to-business platforms cannot directly bring down building material prices, but they could help property developers manage costs, according to an expert.

The Netherlands on Monday warned against hitting Big Tech with a so-called internet toll to help pay for billions of euros in network investments, saying such a move may breach net neutrality rules and lead to price hikes for Europeans.

Despite a new initiative from the Health Ministry and rising interest from venture capitalists, public awareness on the benefits of genetic testing is still low.

Mortgage tech has the potential to tap into the Indonesian property market with demand for house ownership high in the years to come, while most of financing come from loans.

PT Mandiri Capital Indonesia (MCI), state-owned lender Bank Mandiri’s venture capital arm, announced on Wednesday that it would begin holding its Xponent business matchmaking event for start-ups on a quarterly basis.

Coworking businesses have been bleeding throughout the pandemic, with the recent bankruptcy of one of the dominant players CoHive being a symptom of what experts saw as the industry’s prevailing condition in 2023.

The loss compared with the net profit of 29.0 billion yen ($219 million) the firm reported in the same three-month period last year.

Respondents that saw social media as a trustworthy source of information jumped in 2022, while more conventional news outlets saw a decline. 

The digital payment industry grew steadily last year, however, the growth reflects competitive immaturity, the solution for which lies in consolidation, analysts have suggested.

A plunge in growth last year is compelling food delivery platforms in Southeast Asia to scrutinize their costs for the sake of profitability.

The release of ChatGPT, NVIDIA Canvas and DALL-E suggests that artificial intelligence (AI) will one day disrupt even creative industries, yet workers in the segment believe some space will always be reserved for humans, no matter how sophisticated software becomes.        

Netflix lost customers in the first half of 2022. It returned to growth in the second half.