U.S. venture capital firms lining up for a slice of the burgeoning digital currency market are grappling with a novel challenge - some of the hottest tech startups that sell the coins just don't need their money. FILE PHOTO: Bitcoin (virtual currency) coins are seen in an illustration picture taken at La Maison du Bitcoin in Paris, France, May 27, 2015. Only a few years ago, digital currency entrepreneurs, like other Silicon Valley peers, had to line up to pitch their ideas to venture capitalists, who controlled their destiny as virtually the only source of funding. So-called initial coin offerings (ICOs), where new tech companies using blockchain technology can raise millions quickly by creating and selling digital "tokens," with no regulatory oversight, have turned traditional relationships upside down. Blockchain, a public online ledger of … [Read more...] about U.S. venture capital’s digital coin quandary: cash-rich startups
How to raise venture capital
VietNamNet Bridge – The State Bank of Viet Nam has said no to the Viet Nam Gold Trading Association (VGTA)’s proposal to mobilise privately owned gold. The VGTA estimates it at no less than 500 tonnes, equivalent to $20 billion at current prices (VND34.2 million per tael). — Photo vneconomy.vn An anonymous SBV official told Saigon Times Daily that it would be very risky in terms of the price movements it might cause, claiming there has been no precedent by any government in the world in this regard. One of the VGTA’s most important suggestions was that the central bank and Ministry of Finance should soon set up a national transaction floor for physical gold. Since the Government issued Decree 24 on management of gold trading in 2012, which enables the central bank to directly intervene in the local gold market, the market has become very stable while the number of gold traders decreased sharply from 12,000 units then to 38 now. Under the decree, … [Read more...] about How to mobilise public gold?
Credit-Thirsty SMEs Seeking Ways To Survive By Phi Tuan Small- and medium-sized enterprises (SMEs) are regarded as the backbone of the economy, accounting for 97% of the 470,000 registered businesses. Over the years, they have played an increasingly significant role in the economy, contributing to the GDP and generating employment. Vietnam’s SMEs are presently very much in need of capital to expand their operations and profits. However, they are facing tremendous difficulties in gaining sufficient access to finance, the most important obstacle to their growth. Vu Cong Hoa, head of Phuong Nam Packaging and Mechanical Engineering Cooperative in HCM City, is struggling to find funds to continue the project that is two-thirds complete. His business, which is conducting a study on creating a waste processing line to turn garbage into organic fertilizers, has not generated any revenue since the beginning of the year. Up to now, 70% of the work done has resulted in various types of … [Read more...] about Credit-Thirsty SMEs Seeking Ways To Survive
Deputy Prime Minister Nguyen Sinh Hung delivered a report at the National Assembly on June 13, highlighting the initial results of the government’s economic stimulus packages, issues related to agriculture and rural development, the implementation of bauxite projects and solutions for the post-crisis period. Mr Hung said that in the face of the global financial meltdown and economic recession, the government has made an accurate assessment of the situation and introduced urgent solutions to shield the domestic economy from further damage. According to the Deputy PM, the crisis has not shown signs of slowing down in Japan, Russia, East European countries, Africa and the US where many big banks and companies are on the brink of bankruptcy. It is too early to affirm that the crisis is coming to an end and the process of economic recovery could take several more years. He said that Vietnam’s slowdown stems from weaknesses of the national economy itself, the impact of … [Read more...] about Gov’t to better perform its management role, says Deputy PM
SAN FRANCISCO (Reuters) - Facebook Inc aims to raise about US$10.6 billion in Silicon Valley's largest IPO, dwarfing the coming-out parties of tech companies like Google Inc and granting the world's largest social network a market value close to Amazon.com's. Photo: Reuters The eight-year-old social network that began as Mark Zuckerberg's Harvard dorm room project indicated an initial public offering price range of between $28 and $35 a share on Thursday, which would value the company at $77 billion to $96 billion. The valuation reflects the company's growth and bullish expectations about its money-making potential as a hub for everything from advertising to commerce. "We certainly haven't ever seen a tech IPO on this grandiose a scale," said Lise Buyer, a principal with the IPO advisory firm Class V Group. Buyer, who worked on Google's 2004 IPO, said the question about a company "that's already this big and that is raising this much money is how many of the glory days of … [Read more...] about Facebook plans to raise $10.6 billion in mega IPO