Latest news with #KevinWang
CNA
08-08-2025
- Business
- CNA
Trade wins and holiday woes: Mixed emotions amid the Singdollar's climb against China's yuan
SINGAPORE: Like many cost-conscious Chinese nationals abroad, Kevin Wang, a 23-year-old masters student from Qingdao studying in Singapore, has been fervently monitoring foreign currency rates. Two particularly important currencies have been the Chinese yuan and the Singapore dollar (SGD), Wang said, because being on exchange in a country as expensive as Singapore can be costly. 'It influences my spending choices while I'm here,' Wang said, adding that food, transport and accommodation in Singapore were 'very expensive' compared to lower prices back in China. Spending has become tougher for Wang in recent months, as the SGD climbed against the yuan and hit a 28-year high on Jul 2 at 1:5.631 - according to statistics by the Monetary Authority of Singapore (MAS). In early May and in early July, the SGD traded at around 5.63 against the yuan, marking a 22 per cent increase from around 4.61 in February 2022. According to Monetary Authority of Singapore (MAS) data, the SGD:RMB rate was 1:5.631 on Jul 2, which appears to be a 28-year high. The last time it was higher was on Aug 1, 1997, at 5.643. 'When I first arrived, things were already expensive,' said Wang, who arrived in 2024. He is now more cautious about spending. "If it's a non-essential item, I won't buy it unless I truly want it," he said. The Singapore dollar, often ranked as one of Asia's best-performing currencies, has continued to grow in strength over the past year, analysts said, trading at record highs against global counterparts like the Japanese yen and US dollar. 'The Singapore dollar has held firm and maintained its strength against other currencies in the region, also gaining on the weakening US dollar,' said Jeff Ng, director and Head of Asia Macro Strategy at Sumitomo Mitsui Banking Corporation. In contrast, the Chinese yuan 'saw more stability' despite appreciating in value against the US dollar, Ng said. 'What we have noticed is the Singdollar strengthening against a weakening US dollar, with the yuan remaining stable,' Ng said. 'In a way, this reflects that the Singdollar has (continued to) strengthen over the past three months while the yuan has underperformed.' Strong fundamentals, like Singapore's safe haven appeal, robust economic growth and easing of monetary policies, have aided the Singdollar's stability and growth, he added. Its rise against the yuan began in early April, said Sim Moh Siong, commodities strategist from the Bank of Singapore, adding that it also reflects the weakening of the US dollar due to its trade tariff escalations. 'This weakness has led to the current highs (we are seeing) between the Singapore dollar and Chinese yuan, with the Singdollar appreciating more than the yuan against the greenback,' he told CNA. BOON OR BANE FOR TOURISTS? One group set to benefit from a stronger Singdollar: outbound Singaporeans travelling to China, experts said. A stronger Singdollar would translate into more spending yuan - allowing them to stretch their travel budgets and spend more on accommodation, dining and entertainment options in China. Chrislyn Ng, a 22-year-old NTU student on a month-long summer exchange programme at Fudan University in Shanghai, has been enjoying the perks of a stronger Singdollar. Things have always been cheaper in China, Ng said, but the new currency highs have made dining out and visiting popular attractions even more affordable. 'It makes me more willing to spend,' she added. To commemorate her trip, she spent 380 yuan (S$68) on a portrait photoshoot in Shanghai, which included full costume changes, makeup services as well as post-production editing. The experience was 'definitely value for money', Ng said. 'If I did a similar shoot in Singapore, I would have paid more, and services might have been more rushed.' Also benefitting from a strong Singdollar against a weaker yuan are Chinese nationals working in Singapore sending their hard earned money home. Jiang, a 42-year-old labourer, recently remitted 29,000 yuan to family members back in China. This month, they would be receiving slightly more yuan, Jiang said. 'I remit money on a routine basis, every two to three months or so. It goes without saying that if I'm sending money back home, the higher the rate, the better,' Jiang said. On the flip side, experts say a weaker yuan 'creates more caution' among budget-conscious Chinese tourists and travellers, who already feel that Singapore is too expensive. 'This will likely dampen discretionary spending on luxury shopping, F&B establishments and wellness experiences,' said Subramania Bhatt, founder and CEO of China Trading Desk, a Chinese-focused travel consultancy. Chinese tourists who spoke to CNA recounted paying higher prices for food, hotel stays and transport fees because of a stronger Singdollar. Visiting Singapore had been a very expensive holiday for Liao Chao, a Chinese tourist who had travelled from the southern Guangdong province with his wife and children. The family of six, who have also holidayed in Hong Kong, forked out close to S$3,580 for a 5 night stay at a luxury downtown hotel. Transport also did not come cheap - they spent an average of at least S$200 a day on 'bigger and more premium rideshare options' to get around. 'Because of how expensive things are in Singapore to begin with, the higher exchange rates have made us try to avoid spending money on non-essentials," Liao said. 'So after our time here, I can definitely say that Singapore is more expensive than Hong Kong,' he added. Ella Zhang, 31, and Nancy Chen, 29, who had travelled to Singapore from the city of Hangzhou to visit friends and sightsee, were careful about their travel expenses and spending. 'We didn't buy much,' Zhang told CNA, estimating that she spent around S$50 on cosmetics and perfume. They also relied on cheaper off-peak rideshare services to get around. 'It's definitely way more expensive than what we would pay for similar services back home,' Zhang said. Spending hard-earned yuan in Singapore was not ideal, Chen said. 'It's too expensive to get by in Singapore. I don't think we would come back (unless) we visit friends or for work.' IMPACT ON BUSINESSES The yuan's weakening against the Singapore dollar would most likely be a bane for Chinese businesses that import high-value products manufactured and distributed from Singapore, experts said, adding that prices were also likely to increase. But at the same time, the Singdollar's rise would allow Singaporean companies to invest in China at lower costs and rates. Soo Wei Chieh, executive director of the Singapore Business Federation's (SBF) international business division, said that a stronger Singdollar would enable Singapore companies to expand or deepen their market presence in China. There has also been a growing interest in Singapore-based companies and consultancies looking to partner with Chinese counterparts, Soo added. 'With setup costs and investment outlays in China now offering more value, there has been a noticeable uptick in business interest and activity,' he said. Local entrepreneur Marcus Sia is the founder of Applied Total Control Treatment (ATC), a leading precision engineering company headquartered in Singapore, which also runs manufacturing facilities and operations in Malaysia. A stronger Singapore dollar means that Sia's clients in China would have to pay more, potentially resulting in more competition from rival Chinese manufacturers. But Sia isn't worried. 'Our competitors are not able to produce products of similar high quality that are required in high-stakes industries like aerospace and semiconductor applications,' Sia said. 'Our Chinese clients would not consider ordering from (them) because of concerns over stringent quality requirements,' he said, adding that he was confident demand would remain stable. PREDICTIONS AHEAD Analysts are confident that current exchange highs between the Singapore dollar and the yuan will remain the same for much of 2025. As of Aug 7, the Singdollar eased gradually to around 5.593 against the yuan, according to MAS figures. Ng predicts that it will continue to 'hover between 5.5 and 5.6' without any major changes. 'It's more likely both currencies will remain at similar levels and hover around 5.6 for the time being,' Ng said. The Singapore dollar may also likely make some gains against currencies around the region, while losing to others, Ng said. 'It may not be able to maintain the same level of outperformance and may weaken against currencies like the South Korean won or the Malaysian ringgit, which are projected to appreciate more against the US dollar.' But at the end of the day, the performance of these currencies against the Singapore dollar is ultimately dependent on how all of them fare against the US dollar. Sim expects the yuan to continue its upward trend of gradual strengthening. However, this would mean that there would most likely be no aggressive moves to tighten the yuan to increase its value. He agrees that exchange rates are 'set to hover around 5.6'. Economic uncertainty is also expected in the second half of the year and things could worsen depending on tariff outcomes. If tariffs are imposed on US trading partners worldwide, observers say businesses might be more apprehensive to invest or have as many dealings, for fear of potential losses, or being unable to maintain their bottom lines. China's heavily export-dependent economy would then have to bear the brunt under increasing tariffs and potential trade war pressures as a result. And if demand for Chinese exports does fall, so will demand for the yuan, causing it to further devalue against the greenback, and ultimately the Singapore dollar. 'We would have to wait and see how the tariffs are really implemented, who they will apply to and when, and what exemptions could be potentially included in policies,' Ng said, adding that it would also depend heavily on US President Donald Trump.
Yahoo
24-07-2025
- Business
- Yahoo
Suki Expands Executive Leadership Team to Accelerate the Future of Ambient AI in Healthcare
New Chief Medical, Technology, and Customer Officers bring deep clinical, technical, and operational expertise to scale intelligent, assistive solutions across the healthcare system PALO ALTO, Calif., July 24, 2025--(BUSINESS WIRE)--Suki, the leader in artificial intelligence (AI) technology for healthcare, today announced the addition of three seasoned leaders to its executive team: Dr. Kevin Wang joins as Chief Medical Officer, Joe Chang as Chief Technology Officer, and Dr. Vikram Khanna (PhD) as Chief Customer Officer. Together, they bring a powerful blend of clinical insight, technical depth, and customer-centered thinking that will accelerate Suki's mission to deliver scalable, intelligent solutions that transform how clinicians work. Dr. Wang most recently served as CMO of apree health; Chang brings experience from Uber, Google, and Marin Software; and Khanna joins from Innovaccer, where he was President, Customer Success and previously held leadership roles at Nutanix, Google, McKinsey and Intel. Their collective expertise marks a strategic investment in product quality, clinical rigor, and user experience as Suki continues to lead the ambient AI category. "Ambient AI in healthcare is at an inflection point, with growing urgency for solutions that go beyond documentation to deliver true clinical and operational value," said Punit Soni, CEO and Founder of Suki. "To lead in this next phase, we're deepening our investment in clinical excellence, technical innovation, and customer success. The addition of these seasoned world-class leaders reflects our commitment to building intelligent, scalable solutions that don't just reduce burden—but transform how care is delivered. As we continue to grow, our focus remains on creating technology that clinicians trust, health systems value, and patients ultimately benefit from." Signaling its evolving commitment to clinical excellence, Suki has appointed Dr. Kevin Wang to the newly established role of Chief Medical Officer. Dr. Wang brings the experience of a tenured healthcare executive and clinician with deep expertise in clinical operations, revenue cycle management, and value-based care strategies to enable provider performance to enhance Suki's clinical excellence for its more than 350 health system and clinic partners. As Suki continues to prioritize financial and operational value, his expertise in revenue cycle management will help accelerate and expand these efforts—unlocking new opportunities to drive measurable impact for customers. Under Dr. Wang's leadership, Suki's clinical teams will continue to deepen their focus on quality, streamline workflows, and embed a clinical lens across the technology stack—strengthening Suki's ability to deliver an even greater impact for its growing network of providers. "Clinicians need technology that truly understands the realities of care—not more complexity," said Dr. Kevin Wang, Chief Medical Officer at Suki. "I joined Suki to help build solutions that are clinically sound, deeply intuitive, and actually reduce the burden on providers–all while improving how patients experience care. My goal is to bring the voice of the clinician into every stage of innovation, so we can restore the joy of practicing medicine and deliver real value to patients and care delivery systems alike." Suki's appointment of Joe Chang as Chief Technology Officer reflects its long-term vision to drive technical innovation while building the infrastructure needed to scale ambient AI across the healthcare system—powering smarter, more connected clinical experiences. Chang brings a sharp understanding of evolving technology landscapes, drawing on decades of experience leading diverse engineering teams across early-stage startups and large-scale public enterprises. Chang will focus on scaling Suki's engineering capabilities to support product growth, accelerate innovation, and deliver meaningful impact for clinicians and health system partners. "Healthcare is easily one of the most complex and high-stakes environments for technology, and has long been underserved when it comes to innovative solutions that clinicians can easily adopt," said Joe Chang, Chief Technology Officer at Suki. "This role gives me the opportunity to apply my experience in building scalable, secure, high-performance systems to develop technology that meaningfully advances care delivery across the country. Suki is positioned to become the most assistive and seamlessly extensible solution in healthcare, and I'm excited to help lead its next phase of technical innovations and maturity alongside Punit." The appointment of Vikram Khanna as Suki's first-ever Chief Customer Officer signals a pivotal step forward in the company's commitment to delivering exceptional customer outcomes. With deep expertise in customer success, retention, engineering and operational scalability from his leadership roles at Innovaccer, Nutanix, Google and Mckinsey, Khanna brings a proven track record of driving impact across fast-growing technology organizations. At Suki, he will lead the strategy and execution of customer delivery—overseeing implementation, experience, and ongoing innovation for partners across EHR platforms, health systems, clinics, and digital health companies. His leadership will be instrumental in ensuring customers not only adopt Suki, but realize measurable, lasting value from it. "Joining Suki at this growth stage is a unique opportunity to build on a strong foundation of innovation and impact. As AI continues to shape the future of healthcare, the real differentiator will be how deeply and effectively it is adopted, which starts with a relentless focus on customer success," said Vikram Khanna, Chief Customer Officer at Suki. "My goal is to work hand-in-hand with our partners to ensure they not only implement our solutions but see measurable, sustained value from them through our ongoing support." The expansion of Suki's executive team comes at a pivotal moment of growth and momentum for the company. Over the past year, Suki has rapidly scaled its footprint across the healthcare landscape, forging deeper partnerships with leading health systems and academic institutions—including RUSH and Zoom. Its recent milestone with athenahealth, making Suki's ambient technology generally available across the entire athenahealth network, marks a major leap forward in accessibility and impact—solidifying Suki's position as a category leader in ambient healthcare AI. About Suki Suki is a leading technology company that provides AI solutions for healthcare. Its mission is to reimagine the healthcare technology stack, making it invisible and assistive to lift the administrative burden from clinicians. Its flagship product is Suki Assistant, an AI assistant that uses generative AI to automatically create clinical documentation by ambiently listening to patient-clinician conversations. Suki helps clinicians complete notes 41% faster on average, assists with other tasks including coding and answering questions, and generates incremental revenue for organizations, delivering a 6X ROI. Suki also offers its proprietary AI and speech platform, Suki Platform, to partners who want to create best-in-class ambient and voice experiences for their solutions. Suki is backed by premier investors such as Venrock, First Round, Flare Capital Partners, March Capital, and Hedosophia. To learn more, visit or follow us on LinkedIn and Twitter. View source version on Contacts Alex Millmanpr@ Sign in to access your portfolio
CTV News
23-07-2025
- Health
- CTV News
‘Youth inspiring youth': The summer camp giving Manitoba students a look into a health sciences career
The students take part in a heart dissection as part of the Biomedical Youth Program Summer Camp on July 23, 2025. (Jamie Dowsett/CTV News) The University of Manitoba is giving young people a glimpse into what a career in health sciences would look like. This week the university is hosting its Biomedical Youth Program Summer Camp, which gives 100 students from Grades 6 to 12 a chance to take part in hands-on learning in the fields of medicine, dentistry, pharmacy, nursing and science. Activities include heart dissection, fingerprint analysis and DNA extraction. This year's camp also includes sessions on traditional Indigenous medicines. James Gilchrist, a professor in the department of oral biology, said the camp is meant to inspire kids and raise their curiosity about science. 'It's important that kids are informed and be able to make choices about what they may do as a future career,' he said. 'We have an emphasis upon biomedical matters and health sciences careers.' Kevin Wang, one of the students attending the camp, said the experience has made him interested in pursuing a career in the biomedical field in the future. He said his favourite part of the camp so far has been learning about gel electrophoresis. 'It's [basically] splitting the DNA into different parts,' he explained. 'Then we get to compare different DNA and find relationships.' The weeklong camp is run by U of M volunteers made up of undergraduate and graduate students. 'We have this motto of youth inspiring youth,' Gilchrist said. 'So we use graduate students and undergraduate students as a model for what you could become.'
Business Insider
12-07-2025
- Business
- Business Insider
ASML Holding NV (0QB8) Receives a Hold from Mizuho Securities
Mizuho Securities analyst Kevin Wang maintained a Hold rating on ASML Holding NV yesterday and set a price target of €650.00. The company's shares closed yesterday at €681.00. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week. According to TipRanks, Wang is a 3-star analyst with an average return of 17.2% and a 62.50% success rate. In addition to Mizuho Securities, ASML Holding NV also received a Hold from Morgan Stanley's Lee Simpson in a report issued on July 9. However, on the same day, Deutsche Bank maintained a Buy rating on ASML Holding NV (LSE: 0QB8). Based on ASML Holding NV's latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of €7.74 billion and a net profit of €2.36 billion. In comparison, last year the company earned a revenue of €5.29 billion and had a net profit of €1.22 billion
Yahoo
26-06-2025
- Business
- Yahoo
How startup UniUni is beating Canada Post as it tries to become the country's newest unicorn
Equipped with fleets of white delivery vans and a catalogue of distribution warehouses, last-mile delivery startup UniExpress Inc. — more commonly known as UniUni — in many ways resembles established rivals such as FedEx, United Parcel Service Inc. and Canada Post Corp. From its Richmond, B.C., headquarters located near the Vancouver International Airport, UniUni delivers everything from $5 dresses and bedazzled iPhone cases to bulk cleaning supplies and health supplements to shoppers across North America. It said it annually ships hundreds of millions of packages from e-commerce juggernauts such as Shein, Temu and Inc., in addition to smaller, independent retailers. Although the company looks like many other delivery services from the outside, it claims to have a secret sauce: a network of on-call drivers, tech-driven warehouses outfitted with sorting robots and a delivery platform that prizes algorithmic efficiency in an increasingly crowded delivery market that had 31,274 competitors in 2024, according to IBISWorld Inc. data. Customers seem to have bought in. In 2024, UniUni's three-year revenue growth rate hit nearly 13,000 per cent and its headcount surged 46 per cent over the previous year, making it one of Canada's fastest-growing companies. Investors have bought in, too. The company has raised US$202 million from international and Canadian investors in its six years of operation, including a $70-million round completed last week. It declined to share its current valuation. But UniUni's rise has been partly blemished by questions about its labour practices, including allegations of unpaid and late wages and reports that drivers were sleeping in warehouses, dozens to a room. That could be the only thing standing in the way of the company becoming Canada's next unicorn — a startup valued at $1 billion or more — an achievement that would make it a standout in the country's struggling scale-up scene. British Columbia-based entrepreneurs Peter Lu and Kevin Wang founded UniUni in 2019. The duo initially launched the app as a food delivery service, a space that was rapidly growing as platforms such as DoorDash and Uber Eats jostled for market dominance. But when UniUni landed its first major contract that year — delivering for fast fashion titan Shein after someone distantly connected to the retailer spotted a UniUni van in Vancouver — Lu and Wang threw all their energies into parcel deliveries and rode the coattails of an e-commerce boom driven by the COVID-19 pandemic. If serendipitous timing was the linchpin of UniUni's early development, then an unabashed drive to court new investors and a focus on expansion and efficiency through technology have supported its rapid growth. UniUni said it has the capability to process millions of parcel deliveries per week in North America. Its 825 employees and network of 50,000-plus delivery drivers sort and move goods from its 100 warehouses to customers across 500 cities in Canada and the U.S. while charging clients much less than its competitors. '(We) deliver as fast as DHL, but for less than half its price,' Lu told Celtic House Venture Partners in March. UniUni's in-house-developed platform, powered by artificial intelligence, optimizes delivery routes and drop-off locations for drivers, and can sort through millions of orders at once, according to the company. UniUni has also teamed up with tech vendors to maximize efficiency. For example, it announced a tie-up in April with London-based GLP Pte. Ltd. (doing business as Global Robotics Services) to use its AI-powered navigation, monitoring and sorting systems to more accurately process more deliveries while relying less on manual labour. 'This reduces the per-parcel processing cost and strengthens margins, especially during high-volume periods,' Lu said. They were very fast to market and to aggressively finance themselves Charles Plant, co-CEO, ExactBlue Technologies Inc. The lower prices offered by the likes of UniUni have cut into Canada Post's market share of e-commerce deliveries and revenues in recent years. The Crown corporation's monopoly of a waning letter delivery market is also affecting its bottom line, with the Industrial Inquiry Commission recently warning that the postal service is 'effectively insolvent or bankrupt.' Startup watchers appreciate that UniUni has embraced risks, a characteristic some say is in short supply in Canada. 'They were very fast to market and to aggressively finance themselves. The company has raised funds every year since its founding,' said Charles Plant, co-chief executive of nanotechnology firm ExactBlue Technologies Inc. and an adviser who publishes research on Canada's startup and venture-capital ecosystem. Capturing the backing of global investors gave them an added advantage, he said. 'Five of their seven lead funders are foreign,' Plant said. 'Canadian companies funded by international investors have better stats than those funded by solely Canadian ones.' UniUni tapped into those funds to quickly expand. Its delivery network now covers 80 per cent of the Canadian population and 60 per cent of the American population. It has launched U.S. hubs in cities such as Los Angeles, New York and Dallas, and is set to hire 100 new people in North America over the next year. 'They weren't complacent. They grew to lots of new markets and replicated,' Darrell Kopke, a professor of entrepreneurship and innovation at the University of British Columbia (UBC) and a course leader at Toronto-based incubator Creative Destruction Lab, said. 'If you're a later-stage investor looking at Series B or Series C (funding), what you want to see is consistent growth, and that's what UniUni has been able to achieve.' Yet UniUni's efficiency-at-all-costs mindset — a Silicon Valley-esque way of operating — has mired the company in a web of labour and employment controversies. Lu credits its crowdsourced network of delivery drivers, who are self-employed or employees of other delivery service providers, for 'greatly' reducing labour costs. On-call gig workers mean that the company is always aligned with real-time demand. For example, the company can tap into more drivers during busy holiday seasons and request fewer during quiet weekdays. 'To have this chain of drivers sitting around waiting for the next order… that's the most advantageous for them,' Plant said. UniUni is now facing lawsuits in California that allege the company violated the state's labour laws by failing to pay wages and overtime salaries and to keep proper payroll records. Multiple media reports have documented UniUni's delivery drivers sleeping in a Connecticut warehouse — with a dozen mattresses in one room — to make their morning deliveries. Recent online reviews by workers gripe about the company's 'very low pay,' while others claim managers ask them to work overtime without compensation. Customers have also flooded online forums with complaints of lost and stolen deliveries and tales of drivers refusing to drop off their parcels. UniUni says that it has a Better Business Bureau rating of A+ and that 'reported package theft is quite rare and well below industry averages.' Industry voices contend that UniUni is experiencing growing pains. 'Every scale-up, or high-growth company, has had its fair share of complaints,' Kopke said. For example, Uber Technologies Inc. has lurched from scandal to scandal — including, but not limited to, claims of sexual harassment, spying on users and underpaying drivers — but has come to dominate North America's rideshare market, with a valuation closing in on US$190 billion. 'If you're trying to grow that fast, it's going to be messy,' Plant argued. They have a responsibility to make sure that these workers are getting the same level of rights as the law provides Eleni Kassaris, leader of the employment and labour group at law firm Dentons Lu said UniUni's system benefits its drivers, letting them pick when and where they want to work, while shoppers get faster delivery times. Labour rights experts see it slightly differently. 'In an ideal world, it can be win-win,' Eleni Kassaris, a Vancouver-based partner and leader of the employment and labour group at law firm Dentons, said. 'But we don't live in a world where it's easy for people to set their own schedules and work as little or as much as they want; that would imply that gig workers are making a ton of money for a few deliveries. That's not the case for everyone.' UniUni declined to comment on the lawsuits, but said 'the company is fully committed to complying with all labour laws in every jurisdiction where it operates.' Those standards differ from province to province and state to state. Last year, B.C. became the first province to amend its labour and employment rules to classify gig workers as employees rather than independent contractors, meaning they're entitled to specific minimum wages and other benefits like expense allowances for using personal vehicles and workers' compensation coverage. According to B.C. law, UniUni is the employer of any driver using its platform, whether they're self-employed or employed through other delivery service providers (DSPs), Kassaris said. All its drivers use the company's platform to deliver parcels. 'They have a responsibility to make sure that these workers are getting the same level of rights as the law provides,' she said. The company can also contractually require the DSPs it works with — who independently manage and compensate their drivers — to pay in accordance with applicable employment and labour laws, and also ask for audit rights to ensure that they're following the rules, Kassaris said. UniUni said it 'contractually requires DSPs to comply with all applicable laws, including applicable employment laws. Standard contracts … do include audit rights.' New rules to play by could help solve matters. Legislation is coming into force in Ontario that will look like B.C.'s gig worker protections. That momentum is likely to expand to other Canadian provinces, according to Kassaris. 'It's a first step and the story of what we do with online platform workers will continue to evolve,' she said. 'There is some middle ground where we can protect workers but also allow innovative business models to flourish.' UniUni's labour disputes could create reputational risk, but some say that is unlikely to change the tune of investors. 'Investors aren't a monolith,' Kopke said. 'Given UniUni's traction, they'll have no trouble finding the right investors or taking the company public … if they continue performing financially.' Iain Klugman, chief executive of NorthGuide, a Waterloo, Ont.-based consultant focused on entrepreneurship and innovation, said UniUni is on the right path by concentrating on growing big, which is a tried-and-tested strategy consistent with successful startups. 'Market size and growth rates are key to valuation. That's where they've been focusing and it's the right place to be in,' he said. The company, according to a 2023 interview with the Logic, is shooting for a late 2025 or early 2026 initial public offering (IPO) on the Nasdaq or the New York Stock Exchange and may consider a dual listing on the Toronto Stock Exchange. It also aims to become a unicorn and to be profitable in Canada by year-end, Lu said in March. The founder has since said the company's policies on commenting on financials and future plans have changed and declined to further elaborate on its listing plans and timelines. Plant, however, doubts UniUni can hit all three goals concurrently. We want more successful companies — the likes of UniUni, Shopify and Clio — and the high-potential citizens they employ, domiciled here Darrell Kopke, Creative Destruction Lab 'That's a pretty far stretch,' he said. 'It's very, very hard to be profitable and growing at the speed that they are.' Lu said UniUni 'does not operate at a cash burn … and maintains a strong track record relative to the capital raised.' Still, any milestone that UniUni hits will mark a win for Canada, according to industry leaders. 'It attracts attention to the Canadian ecosystem,' Plant said. It also generates spin-off benefits, he said, pointing to the startup booms that companies such as BlackBerry Ltd. and Nortel Networks Corp. created for Kitchener-Waterloo, Ont., and Ottawa. 'We want more successful companies — the likes of UniUni, Shopify and Clio — and the high-potential citizens they employ, domiciled here,' Kopke said. 'Godfather of AI' warns Canadian companies are adopting the technology too slowly Trump's move to block foreign students from Harvard sends shockwaves within Canadian circles These companies remain a 'Canadian story,' given that the intellectual property, jobs and tax base remain in-country, even if most of their revenue and fundraising come from outside of Canada. Lu said Canada provided a strong foundation for its launch, but the country's lack of late-stage funding proved to be a challenge, forcing UniUni to look internationally. Recently, he said he has seen an 'encouraging shift (of) a growing appetite among Canadian venture capitalists to back ambitious ventures.' For now, in order to maintain its momentum, UniUni must continue to grow fast, sell investors on its growth merits and prove that it can do so while protecting workers. • Email: ylau@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
