CTO of Verizon claims it will be the first to launch 5G
Hans Vestberg, the Chief Technology Officer (CTO) of US telecommunications giant Verizon has stated in a conference at CES 2018 that the company will be the very first to launch 5G.
When asked at the CES 5G panel if there was a race between companies to launch 5G, Vestberg answered by stating that, regardless of any competition, Verizon will be the first to launch such a network.
“It’s a great opportunity when 5G is coming into the market right now and we have already announced that later this year we are going to have the first lights on 5G,” Vestberg said.
Telecommunications firms are putting such a large emphasis on 5G due to the potential that it harbours, with the market expected to grow significantly in the coming years.
In a recent report, SNS Research stated that 5G networks are forecast to account for 40% of wireless network infrastructure spending by the end of 2025.
The claims from the CTO have come shortly after Verizon announced that it would be recruiting Ericsson ahead of its 5G launch, with the Swedish company set to provide networking equipment in aid of this, including a 5G core network, a 5G radio access network, and other related services.
Bukalapak raises $1.5bn in record Singapore IPO, say sources
Bukalapak, currently the fourth largest Indonesian ecommerce company, is said to have raised $1.5 billion in the first IPO by an Indonesian tech unicorn.
Three unidentified, but likely reliable, sources told Reuters the order books for Bukalapak’s IPO were covered by multiples, with one source claiming the issue attracted more than $6 billion in demand despite being listed at the top of its indicated price range.
Bukalapak's 50x growth
Bukalapak was looking to raise just $300 million just a few months ago. The figure grew to $800 million before rising to $1.5 billion as investors jockeyed for a piece of the company.
Covid-19 has had a positive impact on many ecommerce operators, and Bukalapak also has strong investment lines via Singapore sovereign investor GIC and Microsoft, among others. The company focuses on micro, small and medium-sized enterprises.
Indonesia is Southeast Asia’s biggest economy.
Indonesia’s four biggest ecommerce companies
Tokopedia is an Indonesian technology company specializing in e-commerce. It was founded in 2009 by William Tanuwijaya and Leontinus Alpha Edison.
Shopee was first launched in Singapore in 2015, and later expanded its reach to Malaysia, Thailand, Taiwan, Indonesia, Vietnam, the Philippines, Brazil, Mexico, Chile, and Colombia.
Lazada is a Singaporean multinational technology company which focuses mainly on e-commerce. Founded by Maximilian Bittner with the backing of Rocket Internet in 2012, it is currently owned by the Alibaba Group after its acquisition in 2016.
Bukalapak is an Indonesian e-commerce company. It was founded in 2010 as an online marketplace to enable small and medium enterprises go online and has expanded to support smaller traditional family owned businesses.