South Korea Tapped for Important E-Commerce Growth Alphabet Slashes Robinhood Stake

South Korea Tapped for Important E-Commerce Growth Alphabet Slashes Robinhood Stake

In modern ExchangeWire news digest: the South Korean market is tapped for substantial e-commerce progress Google-parent Alphabet considerably minimizes its stake in Robinhood Marketplaces and Disney is reportedly building a new activity pressure centred all over AI.

E-commerce to exceed USD$160bn in South Korea

South Korea’s e-commerce current market is forecast to surpass USD$160bn (~£125bn) by 2027. According to GlobalData, the market place is established to enhance by 7.7% year-on-calendar year until eventually 2027, and is envisioned to rise by 10% this 12 months by yourself. This anticipated progress can be attributed to South Korea’s popular adoption of progressive e-commerce characteristics, this kind of as dwell commerce. YouTube, for instance, released its first formal dwell-searching channel in Korea before this 12 months.

Alphabet lessens Robinhood stake

Alphabet has minimized its stake in investing app operator Robinhood Markets by almost 90%. The move follows a slowdown in Robinhood’s organization, which in the beginning thrived many thanks to its fee-free of charge trades and obtainable interface. Alphabet reportedly held above 4.9 million shares in Robinhood back again in 2021, a figure that now sits at about 612,214. The market-off comes as Robinhood claimed a earnings for the first time given that heading general public, shocking Wall Street.

Is Disney generating an AI endeavor pressure?

Entertainment conglomerate Disney is reportedly making a activity drive to analyze AI and how the corporation could use it. The mouse residence now has 11 position openings for people today knowledgeable in AI and machine learning systems, with vacancies spanning throughout a variety of departments. A single career description from Disney’s tv and promotion section explained aspirations to develop a “next-generation” advertising plan, powered by AI. Reports of an AI undertaking drive adhere to the departure of Disney’s metaverse chief, Mike White, immediately after the firm shuttered its metaverse division.

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Reality of the Working day

USD$85 (~£66.60) – the peak rate of Robinhood’s shares.

Resource: Reuters