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27000 | X (formerly Twitter) is worst for disinformation, per EU analysis
These indicators — developed by the signatories — constitute an unprecedented and novel insight into disinformation on online platforms,” she suggested. “Such insight is crucial to understand how effective platforms efforts are to fight this threat even more efficiently. This is a very valuable industry proposal that has great potential while it has to be still further developed.
“Here, signatories have decided to run a pilot phase in three Member States to evaluate the methodology on two of those indicators. X, former Twitter, who is not under the Code any more is the platform with the largest ratio of mis/disinformation posts.”
The Elon Musk-owned platform exited the EU’s Code of Practice on Disinformation back in May, shortly after EU lawmakers warned that policy shifts executed after Musk’s takeover were boosting Kremlin propaganda and criticised the company for patchy reporting. The EU’s top diplomat also took a public shot at Twitter for ending free access to its APIs for researchers, saying the action could threaten the study of disinformation. |
27001 | X (formerly Twitter) is worst for disinformation, per EU analysis
These indicators — developed by the signatories — constitute an unprecedented and novel insight into disinformation on online platforms,” she suggested. “Such insight is crucial to understand how effective platforms efforts are to fight this threat even more efficiently. This is a very valuable industry proposal that has great potential while it has to be still further developed.
“Here, signatories have decided to run a pilot phase in three Member States to evaluate the methodology on two of those indicators. X, former Twitter, who is not under the Code any more is the platform with the largest ratio of mis/disinformation posts.”
The Elon Musk-owned platform exited the EU’s Code of Practice on Disinformation back in May, shortly after EU lawmakers warned that policy shifts executed after Musk’s takeover were boosting Kremlin propaganda and criticised the company for patchy reporting. The EU’s top diplomat also took a public shot at Twitter for ending free access to its APIs for researchers, saying the action could threaten the study of disinformation.
Last year the Commission also warned Musk over “huge work” ahead if the platform was to avoid falling foul of the incoming DSA. |
27002 | X (formerly Twitter) is worst for disinformation, per EU analysis
“Such insight is crucial to understand how effective platforms efforts are to fight this threat even more efficiently. This is a very valuable industry proposal that has great potential while it has to be still further developed.
“Here, signatories have decided to run a pilot phase in three Member States to evaluate the methodology on two of those indicators. X, former Twitter, who is not under the Code any more is the platform with the largest ratio of mis/disinformation posts.”
The Elon Musk-owned platform exited the EU’s Code of Practice on Disinformation back in May, shortly after EU lawmakers warned that policy shifts executed after Musk’s takeover were boosting Kremlin propaganda and criticised the company for patchy reporting. The EU’s top diplomat also took a public shot at Twitter for ending free access to its APIs for researchers, saying the action could threaten the study of disinformation.
Last year the Commission also warned Musk over “huge work” ahead if the platform was to avoid falling foul of the incoming DSA.
Under Musk, X has pushed the use of an existing crowdsourced fact-checking feature (rebranded as Community Notes) which essentially seeks to outsource the issue to a hands-length process of aggregating views from platform users, some of which may be appended as contextual notes to dubious tweets. |
27003 | X (formerly Twitter) is worst for disinformation, per EU analysis
X, former Twitter, who is not under the Code any more is the platform with the largest ratio of mis/disinformation posts.”
The Elon Musk-owned platform exited the EU’s Code of Practice on Disinformation back in May, shortly after EU lawmakers warned that policy shifts executed after Musk’s takeover were boosting Kremlin propaganda and criticised the company for patchy reporting. The EU’s top diplomat also took a public shot at Twitter for ending free access to its APIs for researchers, saying the action could threaten the study of disinformation.
Last year the Commission also warned Musk over “huge work” ahead if the platform was to avoid falling foul of the incoming DSA.
Under Musk, X has pushed the use of an existing crowdsourced fact-checking feature (rebranded as Community Notes) which essentially seeks to outsource the issue to a hands-length process of aggregating views from platform users, some of which may be appended as contextual notes to dubious tweets. At the same time the erratic billionaire has set about removing signals Twitter users were previously able to rely on to help assess the quality of information tweets contained, such as removing state-affiliated media labels from propaganda outlets and replacing legacy account verifications with pay-to-play. |
27004 | X (formerly Twitter) is worst for disinformation, per EU analysis
The EU’s top diplomat also took a public shot at Twitter for ending free access to its APIs for researchers, saying the action could threaten the study of disinformation.
Last year the Commission also warned Musk over “huge work” ahead if the platform was to avoid falling foul of the incoming DSA.
Under Musk, X has pushed the use of an existing crowdsourced fact-checking feature (rebranded as Community Notes) which essentially seeks to outsource the issue to a hands-length process of aggregating views from platform users, some of which may be appended as contextual notes to dubious tweets. At the same time the erratic billionaire has set about removing signals Twitter users were previously able to rely on to help assess the quality of information tweets contained, such as removing state-affiliated media labels from propaganda outlets and replacing legacy account verifications with pay-to-play.
X was contacted for a response to the EU’s analysis of the ratio of disinformation it’s spreading. |
27005 | X (formerly Twitter) is worst for disinformation, per EU analysis
The EU’s top diplomat also took a public shot at Twitter for ending free access to its APIs for researchers, saying the action could threaten the study of disinformation.
Last year the Commission also warned Musk over “huge work” ahead if the platform was to avoid falling foul of the incoming DSA.
Under Musk, X has pushed the use of an existing crowdsourced fact-checking feature (rebranded as Community Notes) which essentially seeks to outsource the issue to a hands-length process of aggregating views from platform users, some of which may be appended as contextual notes to dubious tweets. At the same time the erratic billionaire has set about removing signals Twitter users were previously able to rely on to help assess the quality of information tweets contained, such as removing state-affiliated media labels from propaganda outlets and replacing legacy account verifications with pay-to-play.
X was contacted for a response to the EU’s analysis of the ratio of disinformation it’s spreading. It replied with an automated email reading: “Busy now, please check back later.”
Update: X’s global government affairs account has posted a thread responding to the EU’s criticism in which it claims the data shows other social networking services saw greater changes in subscriber growth and total growth for pro-Kremlin accounts, and for engagement and volume; it also writes that: “More than 700 unique Community Notes have appeared on posts related to the Ukraine conflict. |
27006 | X (formerly Twitter) is worst for disinformation, per EU analysis
At the same time the erratic billionaire has set about removing signals Twitter users were previously able to rely on to help assess the quality of information tweets contained, such as removing state-affiliated media labels from propaganda outlets and replacing legacy account verifications with pay-to-play.
X was contacted for a response to the EU’s analysis of the ratio of disinformation it’s spreading. It replied with an automated email reading: “Busy now, please check back later.”
Update: X’s global government affairs account has posted a thread responding to the EU’s criticism in which it claims the data shows other social networking services saw greater changes in subscriber growth and total growth for pro-Kremlin accounts, and for engagement and volume; it also writes that: “More than 700 unique Community Notes have appeared on posts related to the Ukraine conflict. Through Community Notes’ new ‘Notes on Media’ feature, which automatically matches notes on an image or video to other posts that contain matching media, these notes appeared on over 1,200 additional posts. |
27007 | X (formerly Twitter) is worst for disinformation, per EU analysis
X was contacted for a response to the EU’s analysis of the ratio of disinformation it’s spreading. It replied with an automated email reading: “Busy now, please check back later.”
Update: X’s global government affairs account has posted a thread responding to the EU’s criticism in which it claims the data shows other social networking services saw greater changes in subscriber growth and total growth for pro-Kremlin accounts, and for engagement and volume; it also writes that: “More than 700 unique Community Notes have appeared on posts related to the Ukraine conflict. Through Community Notes’ new ‘Notes on Media’ feature, which automatically matches notes on an image or video to other posts that contain matching media, these notes appeared on over 1,200 additional posts. These notes are in numerous languages and are written specifically for local audiences.”
Back in April, X/Twitter was named as one of 19 larger platforms that face the strictest level of regulation under the EU’s DSA. |
27008 | X (formerly Twitter) is worst for disinformation, per EU analysis
It replied with an automated email reading: “Busy now, please check back later.”
Update: X’s global government affairs account has posted a thread responding to the EU’s criticism in which it claims the data shows other social networking services saw greater changes in subscriber growth and total growth for pro-Kremlin accounts, and for engagement and volume; it also writes that: “More than 700 unique Community Notes have appeared on posts related to the Ukraine conflict. Through Community Notes’ new ‘Notes on Media’ feature, which automatically matches notes on an image or video to other posts that contain matching media, these notes appeared on over 1,200 additional posts. These notes are in numerous languages and are written specifically for local audiences.”
Back in April, X/Twitter was named as one of 19 larger platforms that face the strictest level of regulation under the EU’s DSA. The law puts an obligation on so-called very large online platforms (VLOPs) to assess societal risks attached to their use of algorithms — and put in place “reasonable, proportionate and effective mitigation measures” for identified risks, with their reporting and mitigation plans subject to independent audit and oversight by the Commission. |
27009 | X (formerly Twitter) is worst for disinformation, per EU analysis
Through Community Notes’ new ‘Notes on Media’ feature, which automatically matches notes on an image or video to other posts that contain matching media, these notes appeared on over 1,200 additional posts. These notes are in numerous languages and are written specifically for local audiences.”
Back in April, X/Twitter was named as one of 19 larger platforms that face the strictest level of regulation under the EU’s DSA. The law puts an obligation on so-called very large online platforms (VLOPs) to assess societal risks attached to their use of algorithms — and put in place “reasonable, proportionate and effective mitigation measures” for identified risks, with their reporting and mitigation plans subject to independent audit and oversight by the Commission.
We’ve reached out to the Commission with questions about how it plans to respond to this latest analysis of X’s role in spreading disinformation.
Update: A Commission spokesperson told us:
While the Code is voluntary, compliance with the DSA is not. |
27010 | X (formerly Twitter) is worst for disinformation, per EU analysis
These notes are in numerous languages and are written specifically for local audiences.”
Back in April, X/Twitter was named as one of 19 larger platforms that face the strictest level of regulation under the EU’s DSA. The law puts an obligation on so-called very large online platforms (VLOPs) to assess societal risks attached to their use of algorithms — and put in place “reasonable, proportionate and effective mitigation measures” for identified risks, with their reporting and mitigation plans subject to independent audit and oversight by the Commission.
We’ve reached out to the Commission with questions about how it plans to respond to this latest analysis of X’s role in spreading disinformation.
Update: A Commission spokesperson told us:
While the Code is voluntary, compliance with the DSA is not. The DSA is now legally binding on X/Twitter. This includes in particular the obligation of Very Large Online Platforms, such as X/Twitter to mitigate the risks their platforms pose for the spread of disinformation. |
27011 | X (formerly Twitter) is worst for disinformation, per EU analysis
The law puts an obligation on so-called very large online platforms (VLOPs) to assess societal risks attached to their use of algorithms — and put in place “reasonable, proportionate and effective mitigation measures” for identified risks, with their reporting and mitigation plans subject to independent audit and oversight by the Commission.
We’ve reached out to the Commission with questions about how it plans to respond to this latest analysis of X’s role in spreading disinformation.
Update: A Commission spokesperson told us:
While the Code is voluntary, compliance with the DSA is not. The DSA is now legally binding on X/Twitter. This includes in particular the obligation of Very Large Online Platforms, such as X/Twitter to mitigate the risks their platforms pose for the spread of disinformation. The TrustLab study to measure two Structural Indicators covers signatories of the Code at the time of the launch of the exercise, which at the time included X/Twitter. |
27012 | X (formerly Twitter) is worst for disinformation, per EU analysis
The law puts an obligation on so-called very large online platforms (VLOPs) to assess societal risks attached to their use of algorithms — and put in place “reasonable, proportionate and effective mitigation measures” for identified risks, with their reporting and mitigation plans subject to independent audit and oversight by the Commission.
We’ve reached out to the Commission with questions about how it plans to respond to this latest analysis of X’s role in spreading disinformation.
Update: A Commission spokesperson told us:
While the Code is voluntary, compliance with the DSA is not. The DSA is now legally binding on X/Twitter. This includes in particular the obligation of Very Large Online Platforms, such as X/Twitter to mitigate the risks their platforms pose for the spread of disinformation. The TrustLab study to measure two Structural Indicators covers signatories of the Code at the time of the launch of the exercise, which at the time included X/Twitter. During this period the DSA had not entered into force yet for VLOPs and VLOSEs, including X/Twitter. |
27013 | X (formerly Twitter) is worst for disinformation, per EU analysis
We’ve reached out to the Commission with questions about how it plans to respond to this latest analysis of X’s role in spreading disinformation.
Update: A Commission spokesperson told us:
While the Code is voluntary, compliance with the DSA is not. The DSA is now legally binding on X/Twitter. This includes in particular the obligation of Very Large Online Platforms, such as X/Twitter to mitigate the risks their platforms pose for the spread of disinformation. The TrustLab study to measure two Structural Indicators covers signatories of the Code at the time of the launch of the exercise, which at the time included X/Twitter. During this period the DSA had not entered into force yet for VLOPs and VLOSEs, including X/Twitter. The Commission cannot comment further on the substance of the risk assessments. We are analysing the available information on a range of issues and we are in close contact with X but we cannot comment on specifics and timelines. |
27014 | X (formerly Twitter) is worst for disinformation, per EU analysis
Update: A Commission spokesperson told us:
While the Code is voluntary, compliance with the DSA is not. The DSA is now legally binding on X/Twitter. This includes in particular the obligation of Very Large Online Platforms, such as X/Twitter to mitigate the risks their platforms pose for the spread of disinformation. The TrustLab study to measure two Structural Indicators covers signatories of the Code at the time of the launch of the exercise, which at the time included X/Twitter. During this period the DSA had not entered into force yet for VLOPs and VLOSEs, including X/Twitter. The Commission cannot comment further on the substance of the risk assessments. We are analysing the available information on a range of issues and we are in close contact with X but we cannot comment on specifics and timelines. As stated by Commissioner [Thierry] Breton, minor protection and integrity of elections are priorities in the enforcement of the DSA. |
27015 | X (formerly Twitter) is worst for disinformation, per EU analysis
The DSA is now legally binding on X/Twitter. This includes in particular the obligation of Very Large Online Platforms, such as X/Twitter to mitigate the risks their platforms pose for the spread of disinformation. The TrustLab study to measure two Structural Indicators covers signatories of the Code at the time of the launch of the exercise, which at the time included X/Twitter. During this period the DSA had not entered into force yet for VLOPs and VLOSEs, including X/Twitter. The Commission cannot comment further on the substance of the risk assessments. We are analysing the available information on a range of issues and we are in close contact with X but we cannot comment on specifics and timelines. As stated by Commissioner [Thierry] Breton, minor protection and integrity of elections are priorities in the enforcement of the DSA.
Penalties for breaches of the DSA can scale up to 6% of global annual turnover and the Commission has previously wanted that not following the Code of Practice on Disinformation would be factored into its assessments. |
27016 | X (formerly Twitter) is worst for disinformation, per EU analysis
The TrustLab study to measure two Structural Indicators covers signatories of the Code at the time of the launch of the exercise, which at the time included X/Twitter. During this period the DSA had not entered into force yet for VLOPs and VLOSEs, including X/Twitter. The Commission cannot comment further on the substance of the risk assessments. We are analysing the available information on a range of issues and we are in close contact with X but we cannot comment on specifics and timelines. As stated by Commissioner [Thierry] Breton, minor protection and integrity of elections are priorities in the enforcement of the DSA.
Penalties for breaches of the DSA can scale up to 6% of global annual turnover and the Commission has previously wanted that not following the Code of Practice on Disinformation would be factored into its assessments. So the price for X ignoring the EU’s warnings on disinformation could be steep — albeit its ad revenue has cratered since Musk’s takeover, as a result of his failure to tackle toxicity and harmful disinformation encouraging an advertiser exodus — and shrinking earnings would effectively downsize any future penalties X could face under the DSA. |
27017 | X (formerly Twitter) is worst for disinformation, per EU analysis
The Commission cannot comment further on the substance of the risk assessments. We are analysing the available information on a range of issues and we are in close contact with X but we cannot comment on specifics and timelines. As stated by Commissioner [Thierry] Breton, minor protection and integrity of elections are priorities in the enforcement of the DSA.
Penalties for breaches of the DSA can scale up to 6% of global annual turnover and the Commission has previously wanted that not following the Code of Practice on Disinformation would be factored into its assessments. So the price for X ignoring the EU’s warnings on disinformation could be steep — albeit its ad revenue has cratered since Musk’s takeover, as a result of his failure to tackle toxicity and harmful disinformation encouraging an advertiser exodus — and shrinking earnings would effectively downsize any future penalties X could face under the DSA.
Subscription revenues to a revamped Twitter Blue paid offering (now called X Premium) don’t appear to have been substantial enough to plug the ad gap — which may explain Musk’s recent suggestion he plans to charge all users a small fee. |
27018 | X (formerly Twitter) is worst for disinformation, per EU analysis
As stated by Commissioner [Thierry] Breton, minor protection and integrity of elections are priorities in the enforcement of the DSA.
Penalties for breaches of the DSA can scale up to 6% of global annual turnover and the Commission has previously wanted that not following the Code of Practice on Disinformation would be factored into its assessments. So the price for X ignoring the EU’s warnings on disinformation could be steep — albeit its ad revenue has cratered since Musk’s takeover, as a result of his failure to tackle toxicity and harmful disinformation encouraging an advertiser exodus — and shrinking earnings would effectively downsize any future penalties X could face under the DSA.
Subscription revenues to a revamped Twitter Blue paid offering (now called X Premium) don’t appear to have been substantial enough to plug the ad gap — which may explain Musk’s recent suggestion he plans to charge all users a small fee. However ending free access to X could be the final nail in the coffin of the platform as a real-time information network if it triggers a further/final exodus of remaining legacy users whose knowledge and engagement lent Twitter its original value. |
27019 | X (formerly Twitter) is worst for disinformation, per EU analysis
So the price for X ignoring the EU’s warnings on disinformation could be steep — albeit its ad revenue has cratered since Musk’s takeover, as a result of his failure to tackle toxicity and harmful disinformation encouraging an advertiser exodus — and shrinking earnings would effectively downsize any future penalties X could face under the DSA.
Subscription revenues to a revamped Twitter Blue paid offering (now called X Premium) don’t appear to have been substantial enough to plug the ad gap — which may explain Musk’s recent suggestion he plans to charge all users a small fee. However ending free access to X could be the final nail in the coffin of the platform as a real-time information network if it triggers a further/final exodus of remaining legacy users whose knowledge and engagement lent Twitter its original value.
Disinformation and spammers may rush in to fill the gap, generating a parody of activity, but without a critical mass of genuine users to pay attention and contribute value and vitality — aka the life-blood of a bona fide information network — X really will mark the spot of Twitter’s demise. |
27020 | X (formerly Twitter) is worst for disinformation, per EU analysis
Subscription revenues to a revamped Twitter Blue paid offering (now called X Premium) don’t appear to have been substantial enough to plug the ad gap — which may explain Musk’s recent suggestion he plans to charge all users a small fee. However ending free access to X could be the final nail in the coffin of the platform as a real-time information network if it triggers a further/final exodus of remaining legacy users whose knowledge and engagement lent Twitter its original value.
Disinformation and spammers may rush in to fill the gap, generating a parody of activity, but without a critical mass of genuine users to pay attention and contribute value and vitality — aka the life-blood of a bona fide information network — X really will mark the spot of Twitter’s demise.
Also today, a report by misinformation watcher NewsGuard found that a decision by Musk to remove labels denoting state-run or government-affiliated media accounts led to a surge in propaganda spreading on X, with Russia’s RT seeing the biggest gains per the analysis.
From the report: |
27021 | Fast fashion retailer ASOS struggles to engage consumers as company losses balloon
Stay ahead of the trend in fashion and beyond with our free weekly Lifestyle Edit newsletter Stay ahead of the trend in fashion and beyond with our free weekly Lifestyle Edit newsletter Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy notice Thanks for signing up to the
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We’ve all been there. A friend’s wedding is three days away and you don’t have anything to wear. The last thing you want to do is drag yourself around high-street shops, so inevitably you turn to ASOS. After all, the company is known for its next day delivery and easy returns service. |
27022 | Fast fashion retailer ASOS struggles to engage consumers as company losses balloon
Stay ahead of the trend in fashion and beyond with our free weekly Lifestyle Edit newsletter Stay ahead of the trend in fashion and beyond with our free weekly Lifestyle Edit newsletter Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy notice Thanks for signing up to the
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We’ve all been there. A friend’s wedding is three days away and you don’t have anything to wear. The last thing you want to do is drag yourself around high-street shops, so inevitably you turn to ASOS. After all, the company is known for its next day delivery and easy returns service.
Though many of us are reliant on the online fast fashion retailer for last-minute holiday purchases or big seasonal shops, a new report shows that ASOS’s pre-tax losses ballooned to almost £300m in the year to 3 September, compared with £31m the previous year, according to the results published on Wednesday (1 November). |
27023 | Fast fashion retailer ASOS struggles to engage consumers as company losses balloon
Read our privacy notice Thanks for signing up to the
Lifestyle Edit email {{ #verifyErrors }} {{ message }} {{ /verifyErrors }} {{ ^verifyErrors }} Something went wrong. Please try again later {{ /verifyErrors }}
We’ve all been there. A friend’s wedding is three days away and you don’t have anything to wear. The last thing you want to do is drag yourself around high-street shops, so inevitably you turn to ASOS. After all, the company is known for its next day delivery and easy returns service.
Though many of us are reliant on the online fast fashion retailer for last-minute holiday purchases or big seasonal shops, a new report shows that ASOS’s pre-tax losses ballooned to almost £300m in the year to 3 September, compared with £31m the previous year, according to the results published on Wednesday (1 November).
Despite its huge popularity, the once undisputed queen of online retailers now faces stiff competition from abroad, challenging economic headwinds, and a maturing clientele potentially seeking a more tailored experience. |
27024 | Fast fashion retailer ASOS struggles to engage consumers as company losses balloon
Please try again later {{ /verifyErrors }}
We’ve all been there. A friend’s wedding is three days away and you don’t have anything to wear. The last thing you want to do is drag yourself around high-street shops, so inevitably you turn to ASOS. After all, the company is known for its next day delivery and easy returns service.
Though many of us are reliant on the online fast fashion retailer for last-minute holiday purchases or big seasonal shops, a new report shows that ASOS’s pre-tax losses ballooned to almost £300m in the year to 3 September, compared with £31m the previous year, according to the results published on Wednesday (1 November).
Despite its huge popularity, the once undisputed queen of online retailers now faces stiff competition from abroad, challenging economic headwinds, and a maturing clientele potentially seeking a more tailored experience. Leading some to ask, is ASOS in SOS? |
27025 | Fast fashion retailer ASOS struggles to engage consumers as company losses balloon
Please try again later {{ /verifyErrors }}
We’ve all been there. A friend’s wedding is three days away and you don’t have anything to wear. The last thing you want to do is drag yourself around high-street shops, so inevitably you turn to ASOS. After all, the company is known for its next day delivery and easy returns service.
Though many of us are reliant on the online fast fashion retailer for last-minute holiday purchases or big seasonal shops, a new report shows that ASOS’s pre-tax losses ballooned to almost £300m in the year to 3 September, compared with £31m the previous year, according to the results published on Wednesday (1 November).
Despite its huge popularity, the once undisputed queen of online retailers now faces stiff competition from abroad, challenging economic headwinds, and a maturing clientele potentially seeking a more tailored experience. Leading some to ask, is ASOS in SOS?
When ASOS was launched in 2000, the online retailer was considered revolutionary. |
27026 | Fast fashion retailer ASOS struggles to engage consumers as company losses balloon
A friend’s wedding is three days away and you don’t have anything to wear. The last thing you want to do is drag yourself around high-street shops, so inevitably you turn to ASOS. After all, the company is known for its next day delivery and easy returns service.
Though many of us are reliant on the online fast fashion retailer for last-minute holiday purchases or big seasonal shops, a new report shows that ASOS’s pre-tax losses ballooned to almost £300m in the year to 3 September, compared with £31m the previous year, according to the results published on Wednesday (1 November).
Despite its huge popularity, the once undisputed queen of online retailers now faces stiff competition from abroad, challenging economic headwinds, and a maturing clientele potentially seeking a more tailored experience. Leading some to ask, is ASOS in SOS?
When ASOS was launched in 2000, the online retailer was considered revolutionary. It was like a supersize department store at your fingertips and became the first online retailer that UK customers could visit and find hundreds of dresses for £30 all in one place. |
27027 | Fast fashion retailer ASOS struggles to engage consumers as company losses balloon
After all, the company is known for its next day delivery and easy returns service.
Though many of us are reliant on the online fast fashion retailer for last-minute holiday purchases or big seasonal shops, a new report shows that ASOS’s pre-tax losses ballooned to almost £300m in the year to 3 September, compared with £31m the previous year, according to the results published on Wednesday (1 November).
Despite its huge popularity, the once undisputed queen of online retailers now faces stiff competition from abroad, challenging economic headwinds, and a maturing clientele potentially seeking a more tailored experience. Leading some to ask, is ASOS in SOS?
When ASOS was launched in 2000, the online retailer was considered revolutionary. It was like a supersize department store at your fingertips and became the first online retailer that UK customers could visit and find hundreds of dresses for £30 all in one place.
But, in recent years, the company has been cutting its stock as it faces severe profit and revenue losses. |
27028 | Fast fashion retailer ASOS struggles to engage consumers as company losses balloon
Though many of us are reliant on the online fast fashion retailer for last-minute holiday purchases or big seasonal shops, a new report shows that ASOS’s pre-tax losses ballooned to almost £300m in the year to 3 September, compared with £31m the previous year, according to the results published on Wednesday (1 November).
Despite its huge popularity, the once undisputed queen of online retailers now faces stiff competition from abroad, challenging economic headwinds, and a maturing clientele potentially seeking a more tailored experience. Leading some to ask, is ASOS in SOS?
When ASOS was launched in 2000, the online retailer was considered revolutionary. It was like a supersize department store at your fingertips and became the first online retailer that UK customers could visit and find hundreds of dresses for £30 all in one place.
But, in recent years, the company has been cutting its stock as it faces severe profit and revenue losses. In July and August, the retailer said it was hit by wet during the summer months, forcing the retailer to cut its stock by 30 per cent. |
27029 | Fast fashion retailer ASOS struggles to engage consumers as company losses balloon
Despite its huge popularity, the once undisputed queen of online retailers now faces stiff competition from abroad, challenging economic headwinds, and a maturing clientele potentially seeking a more tailored experience. Leading some to ask, is ASOS in SOS?
When ASOS was launched in 2000, the online retailer was considered revolutionary. It was like a supersize department store at your fingertips and became the first online retailer that UK customers could visit and find hundreds of dresses for £30 all in one place.
But, in recent years, the company has been cutting its stock as it faces severe profit and revenue losses. In July and August, the retailer said it was hit by wet during the summer months, forcing the retailer to cut its stock by 30 per cent.
Some experts now say that the holes within ASOS’s business model are becoming apparent. |
27030 | Fast fashion retailer ASOS struggles to engage consumers as company losses balloon
Despite its huge popularity, the once undisputed queen of online retailers now faces stiff competition from abroad, challenging economic headwinds, and a maturing clientele potentially seeking a more tailored experience. Leading some to ask, is ASOS in SOS?
When ASOS was launched in 2000, the online retailer was considered revolutionary. It was like a supersize department store at your fingertips and became the first online retailer that UK customers could visit and find hundreds of dresses for £30 all in one place.
But, in recent years, the company has been cutting its stock as it faces severe profit and revenue losses. In July and August, the retailer said it was hit by wet during the summer months, forcing the retailer to cut its stock by 30 per cent.
Some experts now say that the holes within ASOS’s business model are becoming apparent. Rick Smith, Managing Director of business recovery firm Forbes Burton tells The Independent that ASOS’s business model of allowing large numbers of free returns makes the company susceptible to financial losses during challenging economic conditions. |
27031 | Fast fashion retailer ASOS struggles to engage consumers as company losses balloon
Leading some to ask, is ASOS in SOS?
When ASOS was launched in 2000, the online retailer was considered revolutionary. It was like a supersize department store at your fingertips and became the first online retailer that UK customers could visit and find hundreds of dresses for £30 all in one place.
But, in recent years, the company has been cutting its stock as it faces severe profit and revenue losses. In July and August, the retailer said it was hit by wet during the summer months, forcing the retailer to cut its stock by 30 per cent.
Some experts now say that the holes within ASOS’s business model are becoming apparent. Rick Smith, Managing Director of business recovery firm Forbes Burton tells The Independent that ASOS’s business model of allowing large numbers of free returns makes the company susceptible to financial losses during challenging economic conditions.
“The buying culture within their target demographic sees several items returned for each order placed, which can make for slim profit margins,” Smith explains. |
27032 | Fast fashion retailer ASOS struggles to engage consumers as company losses balloon
When ASOS was launched in 2000, the online retailer was considered revolutionary. It was like a supersize department store at your fingertips and became the first online retailer that UK customers could visit and find hundreds of dresses for £30 all in one place.
But, in recent years, the company has been cutting its stock as it faces severe profit and revenue losses. In July and August, the retailer said it was hit by wet during the summer months, forcing the retailer to cut its stock by 30 per cent.
Some experts now say that the holes within ASOS’s business model are becoming apparent. Rick Smith, Managing Director of business recovery firm Forbes Burton tells The Independent that ASOS’s business model of allowing large numbers of free returns makes the company susceptible to financial losses during challenging economic conditions.
“The buying culture within their target demographic sees several items returned for each order placed, which can make for slim profit margins,” Smith explains. “ASOS has enjoyed a stratospheric rise since their inception, but have perhaps reached their ceiling now and need to cut their cloth accordingly, especially given the amount of economic headwinds [such as as the cost of living crisis] in play at the moment.”
The buying habits of consumers have also shifted in the 23 years since ASOS launched. |
27033 | Fast fashion retailer ASOS struggles to engage consumers as company losses balloon
In July and August, the retailer said it was hit by wet during the summer months, forcing the retailer to cut its stock by 30 per cent.
Some experts now say that the holes within ASOS’s business model are becoming apparent. Rick Smith, Managing Director of business recovery firm Forbes Burton tells The Independent that ASOS’s business model of allowing large numbers of free returns makes the company susceptible to financial losses during challenging economic conditions.
“The buying culture within their target demographic sees several items returned for each order placed, which can make for slim profit margins,” Smith explains. “ASOS has enjoyed a stratospheric rise since their inception, but have perhaps reached their ceiling now and need to cut their cloth accordingly, especially given the amount of economic headwinds [such as as the cost of living crisis] in play at the moment.”
The buying habits of consumers have also shifted in the 23 years since ASOS launched. Smith says that sifting through hundreds of products has become a painstaking and often unenjoyable task for its customers. |
27034 | Fast fashion retailer ASOS struggles to engage consumers as company losses balloon
Some experts now say that the holes within ASOS’s business model are becoming apparent. Rick Smith, Managing Director of business recovery firm Forbes Burton tells The Independent that ASOS’s business model of allowing large numbers of free returns makes the company susceptible to financial losses during challenging economic conditions.
“The buying culture within their target demographic sees several items returned for each order placed, which can make for slim profit margins,” Smith explains. “ASOS has enjoyed a stratospheric rise since their inception, but have perhaps reached their ceiling now and need to cut their cloth accordingly, especially given the amount of economic headwinds [such as as the cost of living crisis] in play at the moment.”
The buying habits of consumers have also shifted in the 23 years since ASOS launched. Smith says that sifting through hundreds of products has become a painstaking and often unenjoyable task for its customers.
“Once large online retailers get to a certain size, it can become laborious for customers to scour their whole catalogue,” Smith explains. |
27035 | Fast fashion retailer ASOS struggles to engage consumers as company losses balloon
Rick Smith, Managing Director of business recovery firm Forbes Burton tells The Independent that ASOS’s business model of allowing large numbers of free returns makes the company susceptible to financial losses during challenging economic conditions.
“The buying culture within their target demographic sees several items returned for each order placed, which can make for slim profit margins,” Smith explains. “ASOS has enjoyed a stratospheric rise since their inception, but have perhaps reached their ceiling now and need to cut their cloth accordingly, especially given the amount of economic headwinds [such as as the cost of living crisis] in play at the moment.”
The buying habits of consumers have also shifted in the 23 years since ASOS launched. Smith says that sifting through hundreds of products has become a painstaking and often unenjoyable task for its customers.
“Once large online retailers get to a certain size, it can become laborious for customers to scour their whole catalogue,” Smith explains. “The online fashion landscape is evolving now to a point that customers are looking for a more tailored service from websites.”
With the rise of shopping on social media, too, young people are increasingly buying individual items from retailers on Instagram and TikTok or instead shopping directly from the brands that ASOS stocks, such as Pull and Bear, Stüssy and Bershka, which all have their own websites. |
27036 | Fast fashion retailer ASOS struggles to engage consumers as company losses balloon
Smith says that sifting through hundreds of products has become a painstaking and often unenjoyable task for its customers.
“Once large online retailers get to a certain size, it can become laborious for customers to scour their whole catalogue,” Smith explains. “The online fashion landscape is evolving now to a point that customers are looking for a more tailored service from websites.”
With the rise of shopping on social media, too, young people are increasingly buying individual items from retailers on Instagram and TikTok or instead shopping directly from the brands that ASOS stocks, such as Pull and Bear, Stüssy and Bershka, which all have their own websites.
ASOS distribution centre near Barnsley, South Yorkshire. (PA)
“ASOS’s busy 20-something [target] market doesn’t necessarily have the time to sift through dozens of item pages,” adds Smith. |
27037 | Fast fashion retailer ASOS struggles to engage consumers as company losses balloon
Smith says that sifting through hundreds of products has become a painstaking and often unenjoyable task for its customers.
“Once large online retailers get to a certain size, it can become laborious for customers to scour their whole catalogue,” Smith explains. “The online fashion landscape is evolving now to a point that customers are looking for a more tailored service from websites.”
With the rise of shopping on social media, too, young people are increasingly buying individual items from retailers on Instagram and TikTok or instead shopping directly from the brands that ASOS stocks, such as Pull and Bear, Stüssy and Bershka, which all have their own websites.
ASOS distribution centre near Barnsley, South Yorkshire. (PA)
“ASOS’s busy 20-something [target] market doesn’t necessarily have the time to sift through dozens of item pages,” adds Smith. “So curated collections and recommendations based on user input may be one of the changes they eventually look at.”
ASOS, which originally stood for As Seen On Screen, initially started trading with the tagline “Buy what you see on film and TV” as it exclusively sold imitations of clothing worn by celebrities. |
27038 | Fast fashion retailer ASOS struggles to engage consumers as company losses balloon
“The online fashion landscape is evolving now to a point that customers are looking for a more tailored service from websites.”
With the rise of shopping on social media, too, young people are increasingly buying individual items from retailers on Instagram and TikTok or instead shopping directly from the brands that ASOS stocks, such as Pull and Bear, Stüssy and Bershka, which all have their own websites.
ASOS distribution centre near Barnsley, South Yorkshire. (PA)
“ASOS’s busy 20-something [target] market doesn’t necessarily have the time to sift through dozens of item pages,” adds Smith. “So curated collections and recommendations based on user input may be one of the changes they eventually look at.”
ASOS, which originally stood for As Seen On Screen, initially started trading with the tagline “Buy what you see on film and TV” as it exclusively sold imitations of clothing worn by celebrities. That business model quickly expanded away from the world of replica products: ASOS now offers 850 affordable to mid-range high-street brands and ships to 196 countries. |
27039 | Fast fashion retailer ASOS struggles to engage consumers as company losses balloon
ASOS distribution centre near Barnsley, South Yorkshire. (PA)
“ASOS’s busy 20-something [target] market doesn’t necessarily have the time to sift through dozens of item pages,” adds Smith. “So curated collections and recommendations based on user input may be one of the changes they eventually look at.”
ASOS, which originally stood for As Seen On Screen, initially started trading with the tagline “Buy what you see on film and TV” as it exclusively sold imitations of clothing worn by celebrities. That business model quickly expanded away from the world of replica products: ASOS now offers 850 affordable to mid-range high-street brands and ships to 196 countries.
But the company is also now tackling a debt issue, with net debt including leases now at £648.5m, up from £533m the year before. |
27040 | Fast fashion retailer ASOS struggles to engage consumers as company losses balloon
ASOS distribution centre near Barnsley, South Yorkshire. (PA)
“ASOS’s busy 20-something [target] market doesn’t necessarily have the time to sift through dozens of item pages,” adds Smith. “So curated collections and recommendations based on user input may be one of the changes they eventually look at.”
ASOS, which originally stood for As Seen On Screen, initially started trading with the tagline “Buy what you see on film and TV” as it exclusively sold imitations of clothing worn by celebrities. That business model quickly expanded away from the world of replica products: ASOS now offers 850 affordable to mid-range high-street brands and ships to 196 countries.
But the company is also now tackling a debt issue, with net debt including leases now at £648.5m, up from £533m the year before. Analysts predict that the online fashion site may need to raise quick cash soon – potentially through the rumoured sale of its Topshop brand, which ASOS acquired when the Arcadia Group went bust in 2021 and closed Topshop’s bricks and mortar stores. |
27041 | Fast fashion retailer ASOS struggles to engage consumers as company losses balloon
“So curated collections and recommendations based on user input may be one of the changes they eventually look at.”
ASOS, which originally stood for As Seen On Screen, initially started trading with the tagline “Buy what you see on film and TV” as it exclusively sold imitations of clothing worn by celebrities. That business model quickly expanded away from the world of replica products: ASOS now offers 850 affordable to mid-range high-street brands and ships to 196 countries.
But the company is also now tackling a debt issue, with net debt including leases now at £648.5m, up from £533m the year before. Analysts predict that the online fashion site may need to raise quick cash soon – potentially through the rumoured sale of its Topshop brand, which ASOS acquired when the Arcadia Group went bust in 2021 and closed Topshop’s bricks and mortar stores.
Despite the profit slump and predicted future losses, José Antonio Ramos Calamonte, ASOS’s chief executive, said in the report that the company has made “good progress” in “a very challenging environment” and would continue to invest in its brand and stock more fashionable lines of clothing. |
27042 | Fast fashion retailer ASOS struggles to engage consumers as company losses balloon
That business model quickly expanded away from the world of replica products: ASOS now offers 850 affordable to mid-range high-street brands and ships to 196 countries.
But the company is also now tackling a debt issue, with net debt including leases now at £648.5m, up from £533m the year before. Analysts predict that the online fashion site may need to raise quick cash soon – potentially through the rumoured sale of its Topshop brand, which ASOS acquired when the Arcadia Group went bust in 2021 and closed Topshop’s bricks and mortar stores.
Despite the profit slump and predicted future losses, José Antonio Ramos Calamonte, ASOS’s chief executive, said in the report that the company has made “good progress” in “a very challenging environment” and would continue to invest in its brand and stock more fashionable lines of clothing.
The company plans to spend £30m more on marketing and said it was going “back to fashion” with its products “geared around fashion and excitement”. |
27043 | Fast fashion retailer ASOS struggles to engage consumers as company losses balloon
But the company is also now tackling a debt issue, with net debt including leases now at £648.5m, up from £533m the year before. Analysts predict that the online fashion site may need to raise quick cash soon – potentially through the rumoured sale of its Topshop brand, which ASOS acquired when the Arcadia Group went bust in 2021 and closed Topshop’s bricks and mortar stores.
Despite the profit slump and predicted future losses, José Antonio Ramos Calamonte, ASOS’s chief executive, said in the report that the company has made “good progress” in “a very challenging environment” and would continue to invest in its brand and stock more fashionable lines of clothing.
The company plans to spend £30m more on marketing and said it was going “back to fashion” with its products “geared around fashion and excitement”.
As ASOS faces huge losses, it was reported this week that the Chinese-founded retailer Shein has acquired UK company Missguided, with plans to “reignite” the online retailer that was only bought out of administration by Mike Ashley’s Frasers Group a year and a half ago. |
27044 | Fast fashion retailer ASOS struggles to engage consumers as company losses balloon
Analysts predict that the online fashion site may need to raise quick cash soon – potentially through the rumoured sale of its Topshop brand, which ASOS acquired when the Arcadia Group went bust in 2021 and closed Topshop’s bricks and mortar stores.
Despite the profit slump and predicted future losses, José Antonio Ramos Calamonte, ASOS’s chief executive, said in the report that the company has made “good progress” in “a very challenging environment” and would continue to invest in its brand and stock more fashionable lines of clothing.
The company plans to spend £30m more on marketing and said it was going “back to fashion” with its products “geared around fashion and excitement”.
As ASOS faces huge losses, it was reported this week that the Chinese-founded retailer Shein has acquired UK company Missguided, with plans to “reignite” the online retailer that was only bought out of administration by Mike Ashley’s Frasers Group a year and a half ago.
Despite calls for boycotts from anti-fashion campaigners, Shein is currently valued at around £53bn, having expanded globally and bought many of its rival brands. |
27045 | Fast fashion retailer ASOS struggles to engage consumers as company losses balloon
Despite the profit slump and predicted future losses, José Antonio Ramos Calamonte, ASOS’s chief executive, said in the report that the company has made “good progress” in “a very challenging environment” and would continue to invest in its brand and stock more fashionable lines of clothing.
The company plans to spend £30m more on marketing and said it was going “back to fashion” with its products “geared around fashion and excitement”.
As ASOS faces huge losses, it was reported this week that the Chinese-founded retailer Shein has acquired UK company Missguided, with plans to “reignite” the online retailer that was only bought out of administration by Mike Ashley’s Frasers Group a year and a half ago.
Despite calls for boycotts from anti-fashion campaigners, Shein is currently valued at around £53bn, having expanded globally and bought many of its rival brands. In 2022, it was the most-googled fashion brand in the world and made a reported £18.9bn in revenue, suggesting that fast fashion is not falling out of favour with consumers who want to find entire outfits on a budget. |
27046 | European neobroker Scalable Capital raises $65M on a flat $1.4B valuation
Scalable Capital, a Munich startup that aims to make investing in financial markets accessible to a wider range of consumers, is putting more fuel in its tank to drive deeper into Europe. The company has raised €60 million in equity ($65 million at today’s rates). It will be using the funds to build out its business in the six countries — Germany, Austria, Italy, France, Spain and Netherlands — where it is already active and to expand into more. Balderton is leading the round, with participation from HV Capital out of its new growth fund and other unnamed existing backers.
Contrary to the startup’s name, this round is coming in at a flat valuation of $1.4 billion. This was the same valuation Scalable Capital had the last time it raised money — $180 million in 2021, a round led by Tencent, with BlackRock, HV and Tengelmann participating. |
27047 | European neobroker Scalable Capital raises $65M on a flat $1.4B valuation
Scalable Capital, a Munich startup that aims to make investing in financial markets accessible to a wider range of consumers, is putting more fuel in its tank to drive deeper into Europe. The company has raised €60 million in equity ($65 million at today’s rates). It will be using the funds to build out its business in the six countries — Germany, Austria, Italy, France, Spain and Netherlands — where it is already active and to expand into more. Balderton is leading the round, with participation from HV Capital out of its new growth fund and other unnamed existing backers.
Contrary to the startup’s name, this round is coming in at a flat valuation of $1.4 billion. This was the same valuation Scalable Capital had the last time it raised money — $180 million in 2021, a round led by Tencent, with BlackRock, HV and Tengelmann participating. That is despite the fact that the startup is now “four or five times bigger” than it was two years ago, according to co-CEO Erik Podzuweit, who co-founded the company with Florian Prucker. |
27048 | European neobroker Scalable Capital raises $65M on a flat $1.4B valuation
The company has raised €60 million in equity ($65 million at today’s rates). It will be using the funds to build out its business in the six countries — Germany, Austria, Italy, France, Spain and Netherlands — where it is already active and to expand into more. Balderton is leading the round, with participation from HV Capital out of its new growth fund and other unnamed existing backers.
Contrary to the startup’s name, this round is coming in at a flat valuation of $1.4 billion. This was the same valuation Scalable Capital had the last time it raised money — $180 million in 2021, a round led by Tencent, with BlackRock, HV and Tengelmann participating. That is despite the fact that the startup is now “four or five times bigger” than it was two years ago, according to co-CEO Erik Podzuweit, who co-founded the company with Florian Prucker.
Today, Scalable Capital, which started as a digital wealth management platform, now describes itself as a full-service brokerage. |
27049 | European neobroker Scalable Capital raises $65M on a flat $1.4B valuation
Balderton is leading the round, with participation from HV Capital out of its new growth fund and other unnamed existing backers.
Contrary to the startup’s name, this round is coming in at a flat valuation of $1.4 billion. This was the same valuation Scalable Capital had the last time it raised money — $180 million in 2021, a round led by Tencent, with BlackRock, HV and Tengelmann participating. That is despite the fact that the startup is now “four or five times bigger” than it was two years ago, according to co-CEO Erik Podzuweit, who co-founded the company with Florian Prucker.
Today, Scalable Capital, which started as a digital wealth management platform, now describes itself as a full-service brokerage. It has 1.2 million savings plans on the platform, which it tells me works out to over 600,000 customers, and close to €17 billion under management, with products covering ETFs, stocks, funds, bonds, cryptocurrencies and derivatives, and loans. |
27050 | European neobroker Scalable Capital raises $65M on a flat $1.4B valuation
Contrary to the startup’s name, this round is coming in at a flat valuation of $1.4 billion. This was the same valuation Scalable Capital had the last time it raised money — $180 million in 2021, a round led by Tencent, with BlackRock, HV and Tengelmann participating. That is despite the fact that the startup is now “four or five times bigger” than it was two years ago, according to co-CEO Erik Podzuweit, who co-founded the company with Florian Prucker.
Today, Scalable Capital, which started as a digital wealth management platform, now describes itself as a full-service brokerage. It has 1.2 million savings plans on the platform, which it tells me works out to over 600,000 customers, and close to €17 billion under management, with products covering ETFs, stocks, funds, bonds, cryptocurrencies and derivatives, and loans. It gives users access to investing in 8,000 stocks, 2,500 ETFs and 3,500 funds among other products; ETFs are the most popular today. |
27051 | European neobroker Scalable Capital raises $65M on a flat $1.4B valuation
That is despite the fact that the startup is now “four or five times bigger” than it was two years ago, according to co-CEO Erik Podzuweit, who co-founded the company with Florian Prucker.
Today, Scalable Capital, which started as a digital wealth management platform, now describes itself as a full-service brokerage. It has 1.2 million savings plans on the platform, which it tells me works out to over 600,000 customers, and close to €17 billion under management, with products covering ETFs, stocks, funds, bonds, cryptocurrencies and derivatives, and loans. It gives users access to investing in 8,000 stocks, 2,500 ETFs and 3,500 funds among other products; ETFs are the most popular today.
That speaks a lot to the ongoing pressure on startups amid a very tight market for finance at the moment in the region. (More on that theme in the latest annual, barometric report from Atomico.) |
27052 | European neobroker Scalable Capital raises $65M on a flat $1.4B valuation
Today, Scalable Capital, which started as a digital wealth management platform, now describes itself as a full-service brokerage. It has 1.2 million savings plans on the platform, which it tells me works out to over 600,000 customers, and close to €17 billion under management, with products covering ETFs, stocks, funds, bonds, cryptocurrencies and derivatives, and loans. It gives users access to investing in 8,000 stocks, 2,500 ETFs and 3,500 funds among other products; ETFs are the most popular today.
That speaks a lot to the ongoing pressure on startups amid a very tight market for finance at the moment in the region. (More on that theme in the latest annual, barometric report from Atomico.)
“Yes, we are four or five times bigger than we were at the last round,” Podzuweit said in an interview. “So like for like, obviously it’s a very attractive deal for the investor. |
27053 | European neobroker Scalable Capital raises $65M on a flat $1.4B valuation
It has 1.2 million savings plans on the platform, which it tells me works out to over 600,000 customers, and close to €17 billion under management, with products covering ETFs, stocks, funds, bonds, cryptocurrencies and derivatives, and loans. It gives users access to investing in 8,000 stocks, 2,500 ETFs and 3,500 funds among other products; ETFs are the most popular today.
That speaks a lot to the ongoing pressure on startups amid a very tight market for finance at the moment in the region. (More on that theme in the latest annual, barometric report from Atomico.)
“Yes, we are four or five times bigger than we were at the last round,” Podzuweit said in an interview. “So like for like, obviously it’s a very attractive deal for the investor. But in the current market environment, I think it’s really cool that we managed to get to pull this off.” He confirmed that the company still has “the majority of the money from the last funding round” in the bank, but this extra injection means it can be a little more aggressive in its approach. |
27054 | European neobroker Scalable Capital raises $65M on a flat $1.4B valuation
It gives users access to investing in 8,000 stocks, 2,500 ETFs and 3,500 funds among other products; ETFs are the most popular today.
That speaks a lot to the ongoing pressure on startups amid a very tight market for finance at the moment in the region. (More on that theme in the latest annual, barometric report from Atomico.)
“Yes, we are four or five times bigger than we were at the last round,” Podzuweit said in an interview. “So like for like, obviously it’s a very attractive deal for the investor. But in the current market environment, I think it’s really cool that we managed to get to pull this off.” He confirmed that the company still has “the majority of the money from the last funding round” in the bank, but this extra injection means it can be a little more aggressive in its approach. “We can do a bit more marketing, we can hire the top people but we also have a much bigger equity cushion,” he said. |
27055 | European neobroker Scalable Capital raises $65M on a flat $1.4B valuation
That speaks a lot to the ongoing pressure on startups amid a very tight market for finance at the moment in the region. (More on that theme in the latest annual, barometric report from Atomico.)
“Yes, we are four or five times bigger than we were at the last round,” Podzuweit said in an interview. “So like for like, obviously it’s a very attractive deal for the investor. But in the current market environment, I think it’s really cool that we managed to get to pull this off.” He confirmed that the company still has “the majority of the money from the last funding round” in the bank, but this extra injection means it can be a little more aggressive in its approach. “We can do a bit more marketing, we can hire the top people but we also have a much bigger equity cushion,” he said. The company has now raised more than $345 million, it said. |
27056 | European neobroker Scalable Capital raises $65M on a flat $1.4B valuation
That speaks a lot to the ongoing pressure on startups amid a very tight market for finance at the moment in the region. (More on that theme in the latest annual, barometric report from Atomico.)
“Yes, we are four or five times bigger than we were at the last round,” Podzuweit said in an interview. “So like for like, obviously it’s a very attractive deal for the investor. But in the current market environment, I think it’s really cool that we managed to get to pull this off.” He confirmed that the company still has “the majority of the money from the last funding round” in the bank, but this extra injection means it can be a little more aggressive in its approach. “We can do a bit more marketing, we can hire the top people but we also have a much bigger equity cushion,” he said. The company has now raised more than $345 million, it said.
Indeed, the fundraise may be coming at a tight time for startup finance, but one likely reason that Scalable took the money now is that, for neobrokers, the landscape is getting more competitive and crowded. |
27057 | European neobroker Scalable Capital raises $65M on a flat $1.4B valuation
“Yes, we are four or five times bigger than we were at the last round,” Podzuweit said in an interview. “So like for like, obviously it’s a very attractive deal for the investor. But in the current market environment, I think it’s really cool that we managed to get to pull this off.” He confirmed that the company still has “the majority of the money from the last funding round” in the bank, but this extra injection means it can be a little more aggressive in its approach. “We can do a bit more marketing, we can hire the top people but we also have a much bigger equity cushion,” he said. The company has now raised more than $345 million, it said.
Indeed, the fundraise may be coming at a tight time for startup finance, but one likely reason that Scalable took the money now is that, for neobrokers, the landscape is getting more competitive and crowded.
Late last month, Robinhood — the tech company best known for democratizing investing in the U.S. |
27058 | European neobroker Scalable Capital raises $65M on a flat $1.4B valuation
“So like for like, obviously it’s a very attractive deal for the investor. But in the current market environment, I think it’s really cool that we managed to get to pull this off.” He confirmed that the company still has “the majority of the money from the last funding round” in the bank, but this extra injection means it can be a little more aggressive in its approach. “We can do a bit more marketing, we can hire the top people but we also have a much bigger equity cushion,” he said. The company has now raised more than $345 million, it said.
Indeed, the fundraise may be coming at a tight time for startup finance, but one likely reason that Scalable took the money now is that, for neobrokers, the landscape is getting more competitive and crowded.
Late last month, Robinhood — the tech company best known for democratizing investing in the U.S. — finally took its first step into international (and European) territories, opening an office in the U.K. |
27059 | European neobroker Scalable Capital raises $65M on a flat $1.4B valuation
But in the current market environment, I think it’s really cool that we managed to get to pull this off.” He confirmed that the company still has “the majority of the money from the last funding round” in the bank, but this extra injection means it can be a little more aggressive in its approach. “We can do a bit more marketing, we can hire the top people but we also have a much bigger equity cushion,” he said. The company has now raised more than $345 million, it said.
Indeed, the fundraise may be coming at a tight time for startup finance, but one likely reason that Scalable took the money now is that, for neobrokers, the landscape is getting more competitive and crowded.
Late last month, Robinhood — the tech company best known for democratizing investing in the U.S. — finally took its first step into international (and European) territories, opening an office in the U.K. (and just today launching crypto trading in the EU on the back of that). |
27060 | European neobroker Scalable Capital raises $65M on a flat $1.4B valuation
“We can do a bit more marketing, we can hire the top people but we also have a much bigger equity cushion,” he said. The company has now raised more than $345 million, it said.
Indeed, the fundraise may be coming at a tight time for startup finance, but one likely reason that Scalable took the money now is that, for neobrokers, the landscape is getting more competitive and crowded.
Late last month, Robinhood — the tech company best known for democratizing investing in the U.S. — finally took its first step into international (and European) territories, opening an office in the U.K. (and just today launching crypto trading in the EU on the back of that). Other players out of the U.K. market with clear European ambitions include Freetrade and Lightyear.
And just yesterday, Scalable Capital’s biggest rival among startups, Trade Republic, secured a full banking license from the European Central Bank. |
27061 | European neobroker Scalable Capital raises $65M on a flat $1.4B valuation
“We can do a bit more marketing, we can hire the top people but we also have a much bigger equity cushion,” he said. The company has now raised more than $345 million, it said.
Indeed, the fundraise may be coming at a tight time for startup finance, but one likely reason that Scalable took the money now is that, for neobrokers, the landscape is getting more competitive and crowded.
Late last month, Robinhood — the tech company best known for democratizing investing in the U.S. — finally took its first step into international (and European) territories, opening an office in the U.K. (and just today launching crypto trading in the EU on the back of that). Other players out of the U.K. market with clear European ambitions include Freetrade and Lightyear.
And just yesterday, Scalable Capital’s biggest rival among startups, Trade Republic, secured a full banking license from the European Central Bank. The latter, backed by Sequoia among others and last valued at $5.3 billion back in June 2022 (via PitchBook), said it will use the new license to launch more savings and investment products — a move that will lay the gauntlet down for Scalable to figure out if, and how, it will level up. |
27062 | European neobroker Scalable Capital raises $65M on a flat $1.4B valuation
Late last month, Robinhood — the tech company best known for democratizing investing in the U.S. — finally took its first step into international (and European) territories, opening an office in the U.K. (and just today launching crypto trading in the EU on the back of that). Other players out of the U.K. market with clear European ambitions include Freetrade and Lightyear.
And just yesterday, Scalable Capital’s biggest rival among startups, Trade Republic, secured a full banking license from the European Central Bank. The latter, backed by Sequoia among others and last valued at $5.3 billion back in June 2022 (via PitchBook), said it will use the new license to launch more savings and investment products — a move that will lay the gauntlet down for Scalable to figure out if, and how, it will level up.
For now, Scalable Capital is holding steady and not pursuing a license itself, said Podzuweit. |
27063 | European neobroker Scalable Capital raises $65M on a flat $1.4B valuation
— finally took its first step into international (and European) territories, opening an office in the U.K. (and just today launching crypto trading in the EU on the back of that). Other players out of the U.K. market with clear European ambitions include Freetrade and Lightyear.
And just yesterday, Scalable Capital’s biggest rival among startups, Trade Republic, secured a full banking license from the European Central Bank. The latter, backed by Sequoia among others and last valued at $5.3 billion back in June 2022 (via PitchBook), said it will use the new license to launch more savings and investment products — a move that will lay the gauntlet down for Scalable to figure out if, and how, it will level up.
For now, Scalable Capital is holding steady and not pursuing a license itself, said Podzuweit.
“It’s leaner, obviously,” he said, likening it to how some e-commerce companies might invest in building out their own logistics, and some work with third parties (Scalable’s banking partners, in lieu of a license, include ING). |
27064 | European neobroker Scalable Capital raises $65M on a flat $1.4B valuation
Other players out of the U.K. market with clear European ambitions include Freetrade and Lightyear.
And just yesterday, Scalable Capital’s biggest rival among startups, Trade Republic, secured a full banking license from the European Central Bank. The latter, backed by Sequoia among others and last valued at $5.3 billion back in June 2022 (via PitchBook), said it will use the new license to launch more savings and investment products — a move that will lay the gauntlet down for Scalable to figure out if, and how, it will level up.
For now, Scalable Capital is holding steady and not pursuing a license itself, said Podzuweit.
“It’s leaner, obviously,” he said, likening it to how some e-commerce companies might invest in building out their own logistics, and some work with third parties (Scalable’s banking partners, in lieu of a license, include ING). “Maybe I wouldn’t rule [getting a license] out forever. |
27065 | European neobroker Scalable Capital raises $65M on a flat $1.4B valuation
market with clear European ambitions include Freetrade and Lightyear.
And just yesterday, Scalable Capital’s biggest rival among startups, Trade Republic, secured a full banking license from the European Central Bank. The latter, backed by Sequoia among others and last valued at $5.3 billion back in June 2022 (via PitchBook), said it will use the new license to launch more savings and investment products — a move that will lay the gauntlet down for Scalable to figure out if, and how, it will level up.
For now, Scalable Capital is holding steady and not pursuing a license itself, said Podzuweit.
“It’s leaner, obviously,” he said, likening it to how some e-commerce companies might invest in building out their own logistics, and some work with third parties (Scalable’s banking partners, in lieu of a license, include ING). “Maybe I wouldn’t rule [getting a license] out forever. But right now we’re focusing on building products and launching new markets and we are faster doing it our way.”
The other big forces that are playing in the market include the looming presence of AI and how it will be used both to manage investing platforms, but also investments themselves; and the general state of the economy: Generally, markets have been in the doldrums, with inflation, and unfavorable interest rates bringing a chilling effect to consumers’ inclination to take risks and invest money that could be used more immediately elsewhere. |
27066 | European neobroker Scalable Capital raises $65M on a flat $1.4B valuation
For now, Scalable Capital is holding steady and not pursuing a license itself, said Podzuweit.
“It’s leaner, obviously,” he said, likening it to how some e-commerce companies might invest in building out their own logistics, and some work with third parties (Scalable’s banking partners, in lieu of a license, include ING). “Maybe I wouldn’t rule [getting a license] out forever. But right now we’re focusing on building products and launching new markets and we are faster doing it our way.”
The other big forces that are playing in the market include the looming presence of AI and how it will be used both to manage investing platforms, but also investments themselves; and the general state of the economy: Generally, markets have been in the doldrums, with inflation, and unfavorable interest rates bringing a chilling effect to consumers’ inclination to take risks and invest money that could be used more immediately elsewhere.
Scalable’s positioning, as it is with others like it, is that it leaves the door open for smaller and more incremental buy-ins from its customers. |
27067 | European neobroker Scalable Capital raises $65M on a flat $1.4B valuation
“Maybe I wouldn’t rule [getting a license] out forever. But right now we’re focusing on building products and launching new markets and we are faster doing it our way.”
The other big forces that are playing in the market include the looming presence of AI and how it will be used both to manage investing platforms, but also investments themselves; and the general state of the economy: Generally, markets have been in the doldrums, with inflation, and unfavorable interest rates bringing a chilling effect to consumers’ inclination to take risks and invest money that could be used more immediately elsewhere.
Scalable’s positioning, as it is with others like it, is that it leaves the door open for smaller and more incremental buy-ins from its customers. On top of this, Podzuweit points out that the startup’s average user age is 35, a person perhaps with more disposable income than some of the younger consumers that other neobrokers have courted. |
27068 | European neobroker Scalable Capital raises $65M on a flat $1.4B valuation
“Maybe I wouldn’t rule [getting a license] out forever. But right now we’re focusing on building products and launching new markets and we are faster doing it our way.”
The other big forces that are playing in the market include the looming presence of AI and how it will be used both to manage investing platforms, but also investments themselves; and the general state of the economy: Generally, markets have been in the doldrums, with inflation, and unfavorable interest rates bringing a chilling effect to consumers’ inclination to take risks and invest money that could be used more immediately elsewhere.
Scalable’s positioning, as it is with others like it, is that it leaves the door open for smaller and more incremental buy-ins from its customers. On top of this, Podzuweit points out that the startup’s average user age is 35, a person perhaps with more disposable income than some of the younger consumers that other neobrokers have courted.
The focus on ramping up at a time when the market looks like it has cooled is also very much in line with the ethos of investing, where people often put down their money at lower points if they believe that it will represent a great deal in the longer run. |
27069 | European neobroker Scalable Capital raises $65M on a flat $1.4B valuation
Scalable’s positioning, as it is with others like it, is that it leaves the door open for smaller and more incremental buy-ins from its customers. On top of this, Podzuweit points out that the startup’s average user age is 35, a person perhaps with more disposable income than some of the younger consumers that other neobrokers have courted.
The focus on ramping up at a time when the market looks like it has cooled is also very much in line with the ethos of investing, where people often put down their money at lower points if they believe that it will represent a great deal in the longer run. Of course, only time will tell whether that firm belief in growth longer term will play out as hoped.
Balderton general partner Rana Yared is joining the board with this round. |
27070 | European neobroker Scalable Capital raises $65M on a flat $1.4B valuation
Scalable’s positioning, as it is with others like it, is that it leaves the door open for smaller and more incremental buy-ins from its customers. On top of this, Podzuweit points out that the startup’s average user age is 35, a person perhaps with more disposable income than some of the younger consumers that other neobrokers have courted.
The focus on ramping up at a time when the market looks like it has cooled is also very much in line with the ethos of investing, where people often put down their money at lower points if they believe that it will represent a great deal in the longer run. Of course, only time will tell whether that firm belief in growth longer term will play out as hoped.
Balderton general partner Rana Yared is joining the board with this round. “Scalable’s one-stop, digital-first, wealth building and generating platform brings a suite of top-class financial products to individuals across Europe, and is unparalleled in the market,” she said in a statement. |
27071 | European neobroker Scalable Capital raises $65M on a flat $1.4B valuation
On top of this, Podzuweit points out that the startup’s average user age is 35, a person perhaps with more disposable income than some of the younger consumers that other neobrokers have courted.
The focus on ramping up at a time when the market looks like it has cooled is also very much in line with the ethos of investing, where people often put down their money at lower points if they believe that it will represent a great deal in the longer run. Of course, only time will tell whether that firm belief in growth longer term will play out as hoped.
Balderton general partner Rana Yared is joining the board with this round. “Scalable’s one-stop, digital-first, wealth building and generating platform brings a suite of top-class financial products to individuals across Europe, and is unparalleled in the market,” she said in a statement. “We’ve been impressed by Erik, Florian and team’s vision and execution to date and are delighted to be supporting them in this next chapter.” We’re hopefully hearing from Yared directly later today and will update this more after that. |
27072 | European neobroker Scalable Capital raises $65M on a flat $1.4B valuation
The focus on ramping up at a time when the market looks like it has cooled is also very much in line with the ethos of investing, where people often put down their money at lower points if they believe that it will represent a great deal in the longer run. Of course, only time will tell whether that firm belief in growth longer term will play out as hoped.
Balderton general partner Rana Yared is joining the board with this round. “Scalable’s one-stop, digital-first, wealth building and generating platform brings a suite of top-class financial products to individuals across Europe, and is unparalleled in the market,” she said in a statement. “We’ve been impressed by Erik, Florian and team’s vision and execution to date and are delighted to be supporting them in this next chapter.” We’re hopefully hearing from Yared directly later today and will update this more after that.
Updated to correct the amount raised in 2021 to $180 million, not $140 million; and to specify the number of customers and the total raised, after the numbers were provided by the company post-publication. |
27073 | How to wake Art Cullagh and lift the Shadow Curse in Baldur’s Gate 3
Art Cullagh is a sleepy man in the Last Light Inn of Baldur’s Gate 3’s second act, and he’s the key to breaking the Shadow Curse that plagues the Shadow-touched lands.
Once you make it into act 2 and reach the central hub of the Last Light Inn, you’ll be able to wake up Art, locate Thaniel, defeat Oliver, and finally recruit Halsin as a real companion for your party. All of that takes place during a lengthy quest that will take you all across these new lands and to the edge of Moonrise Towers.
In this Baldur’s Gate 3 guide, we’ll walk you through how to wake up Art Cullagh and how to break the Shadow Curse in act 2.
Wake up Art Cullagh
Once you reach the Last Light Inn in the Shadow-cursed Lands, head back to your camp and talk to Halsin. |
27074 | How to wake Art Cullagh and lift the Shadow Curse in Baldur’s Gate 3
Art Cullagh is a sleepy man in the Last Light Inn of Baldur’s Gate 3’s second act, and he’s the key to breaking the Shadow Curse that plagues the Shadow-touched lands.
Once you make it into act 2 and reach the central hub of the Last Light Inn, you’ll be able to wake up Art, locate Thaniel, defeat Oliver, and finally recruit Halsin as a real companion for your party. All of that takes place during a lengthy quest that will take you all across these new lands and to the edge of Moonrise Towers.
In this Baldur’s Gate 3 guide, we’ll walk you through how to wake up Art Cullagh and how to break the Shadow Curse in act 2.
Wake up Art Cullagh
Once you reach the Last Light Inn in the Shadow-cursed Lands, head back to your camp and talk to Halsin. He’ll tell you the tale of a young man named Thaniel, a Tiefling who is the root of the curse that’s taking over the Shadow-cursed Land. |
27075 | How to wake Art Cullagh and lift the Shadow Curse in Baldur’s Gate 3
Once you make it into act 2 and reach the central hub of the Last Light Inn, you’ll be able to wake up Art, locate Thaniel, defeat Oliver, and finally recruit Halsin as a real companion for your party. All of that takes place during a lengthy quest that will take you all across these new lands and to the edge of Moonrise Towers.
In this Baldur’s Gate 3 guide, we’ll walk you through how to wake up Art Cullagh and how to break the Shadow Curse in act 2.
Wake up Art Cullagh
Once you reach the Last Light Inn in the Shadow-cursed Lands, head back to your camp and talk to Halsin. He’ll tell you the tale of a young man named Thaniel, a Tiefling who is the root of the curse that’s taking over the Shadow-cursed Land.
Now head back to the Last Light Inn and visit the bunks on the first floor, just to the right of the entrance. |
27076 | How to wake Art Cullagh and lift the Shadow Curse in Baldur’s Gate 3
All of that takes place during a lengthy quest that will take you all across these new lands and to the edge of Moonrise Towers.
In this Baldur’s Gate 3 guide, we’ll walk you through how to wake up Art Cullagh and how to break the Shadow Curse in act 2.
Wake up Art Cullagh
Once you reach the Last Light Inn in the Shadow-cursed Lands, head back to your camp and talk to Halsin. He’ll tell you the tale of a young man named Thaniel, a Tiefling who is the root of the curse that’s taking over the Shadow-cursed Land.
Now head back to the Last Light Inn and visit the bunks on the first floor, just to the right of the entrance. There’ll be a man named Art Cullagh lying in bed with a swirly animation above him. Talk to him and he’ll mutter something about Thaniel. |
27077 | How to wake Art Cullagh and lift the Shadow Curse in Baldur’s Gate 3
All of that takes place during a lengthy quest that will take you all across these new lands and to the edge of Moonrise Towers.
In this Baldur’s Gate 3 guide, we’ll walk you through how to wake up Art Cullagh and how to break the Shadow Curse in act 2.
Wake up Art Cullagh
Once you reach the Last Light Inn in the Shadow-cursed Lands, head back to your camp and talk to Halsin. He’ll tell you the tale of a young man named Thaniel, a Tiefling who is the root of the curse that’s taking over the Shadow-cursed Land.
Now head back to the Last Light Inn and visit the bunks on the first floor, just to the right of the entrance. There’ll be a man named Art Cullagh lying in bed with a swirly animation above him. Talk to him and he’ll mutter something about Thaniel. Walk through the dialogue and you’ll learn that he needs some kind of personal item to wake him. |
27078 | How to wake Art Cullagh and lift the Shadow Curse in Baldur’s Gate 3
In this Baldur’s Gate 3 guide, we’ll walk you through how to wake up Art Cullagh and how to break the Shadow Curse in act 2.
Wake up Art Cullagh
Once you reach the Last Light Inn in the Shadow-cursed Lands, head back to your camp and talk to Halsin. He’ll tell you the tale of a young man named Thaniel, a Tiefling who is the root of the curse that’s taking over the Shadow-cursed Land.
Now head back to the Last Light Inn and visit the bunks on the first floor, just to the right of the entrance. There’ll be a man named Art Cullagh lying in bed with a swirly animation above him. Talk to him and he’ll mutter something about Thaniel. Walk through the dialogue and you’ll learn that he needs some kind of personal item to wake him.
Return to Halsin in camp, and the Druid will decide he needs to see the sleeping man himself. |
27079 | How to wake Art Cullagh and lift the Shadow Curse in Baldur’s Gate 3
Wake up Art Cullagh
Once you reach the Last Light Inn in the Shadow-cursed Lands, head back to your camp and talk to Halsin. He’ll tell you the tale of a young man named Thaniel, a Tiefling who is the root of the curse that’s taking over the Shadow-cursed Land.
Now head back to the Last Light Inn and visit the bunks on the first floor, just to the right of the entrance. There’ll be a man named Art Cullagh lying in bed with a swirly animation above him. Talk to him and he’ll mutter something about Thaniel. Walk through the dialogue and you’ll learn that he needs some kind of personal item to wake him.
Return to Halsin in camp, and the Druid will decide he needs to see the sleeping man himself. Jump back to the Last Light Inn and talk to Art again, this time with Halsin’s help. |
27080 | How to wake Art Cullagh and lift the Shadow Curse in Baldur’s Gate 3
Wake up Art Cullagh
Once you reach the Last Light Inn in the Shadow-cursed Lands, head back to your camp and talk to Halsin. He’ll tell you the tale of a young man named Thaniel, a Tiefling who is the root of the curse that’s taking over the Shadow-cursed Land.
Now head back to the Last Light Inn and visit the bunks on the first floor, just to the right of the entrance. There’ll be a man named Art Cullagh lying in bed with a swirly animation above him. Talk to him and he’ll mutter something about Thaniel. Walk through the dialogue and you’ll learn that he needs some kind of personal item to wake him.
Return to Halsin in camp, and the Druid will decide he needs to see the sleeping man himself. Jump back to the Last Light Inn and talk to Art again, this time with Halsin’s help. Read Art’s last orders letter and a quest marker near Moonrise Towers will appear. |
27081 | How to wake Art Cullagh and lift the Shadow Curse in Baldur’s Gate 3
He’ll tell you the tale of a young man named Thaniel, a Tiefling who is the root of the curse that’s taking over the Shadow-cursed Land.
Now head back to the Last Light Inn and visit the bunks on the first floor, just to the right of the entrance. There’ll be a man named Art Cullagh lying in bed with a swirly animation above him. Talk to him and he’ll mutter something about Thaniel. Walk through the dialogue and you’ll learn that he needs some kind of personal item to wake him.
Return to Halsin in camp, and the Druid will decide he needs to see the sleeping man himself. Jump back to the Last Light Inn and talk to Art again, this time with Halsin’s help. Read Art’s last orders letter and a quest marker near Moonrise Towers will appear. Make your way there. |
27082 | How to wake Art Cullagh and lift the Shadow Curse in Baldur’s Gate 3
He’ll tell you the tale of a young man named Thaniel, a Tiefling who is the root of the curse that’s taking over the Shadow-cursed Land.
Now head back to the Last Light Inn and visit the bunks on the first floor, just to the right of the entrance. There’ll be a man named Art Cullagh lying in bed with a swirly animation above him. Talk to him and he’ll mutter something about Thaniel. Walk through the dialogue and you’ll learn that he needs some kind of personal item to wake him.
Return to Halsin in camp, and the Druid will decide he needs to see the sleeping man himself. Jump back to the Last Light Inn and talk to Art again, this time with Halsin’s help. Read Art’s last orders letter and a quest marker near Moonrise Towers will appear. Make your way there.
In the town, near the Road to Baldur’s Gate Waypoint, you’ll find the House of Healing and the cemetery it’s connected to — not exactly a good pairing if you want people to have faith in your hospital. |
27083 | How to wake Art Cullagh and lift the Shadow Curse in Baldur’s Gate 3
Now head back to the Last Light Inn and visit the bunks on the first floor, just to the right of the entrance. There’ll be a man named Art Cullagh lying in bed with a swirly animation above him. Talk to him and he’ll mutter something about Thaniel. Walk through the dialogue and you’ll learn that he needs some kind of personal item to wake him.
Return to Halsin in camp, and the Druid will decide he needs to see the sleeping man himself. Jump back to the Last Light Inn and talk to Art again, this time with Halsin’s help. Read Art’s last orders letter and a quest marker near Moonrise Towers will appear. Make your way there.
In the town, near the Road to Baldur’s Gate Waypoint, you’ll find the House of Healing and the cemetery it’s connected to — not exactly a good pairing if you want people to have faith in your hospital. Inside you’ll be directed to the operating theater and the “doctor” on staff. |
27084 | How to wake Art Cullagh and lift the Shadow Curse in Baldur’s Gate 3
There’ll be a man named Art Cullagh lying in bed with a swirly animation above him. Talk to him and he’ll mutter something about Thaniel. Walk through the dialogue and you’ll learn that he needs some kind of personal item to wake him.
Return to Halsin in camp, and the Druid will decide he needs to see the sleeping man himself. Jump back to the Last Light Inn and talk to Art again, this time with Halsin’s help. Read Art’s last orders letter and a quest marker near Moonrise Towers will appear. Make your way there.
In the town, near the Road to Baldur’s Gate Waypoint, you’ll find the House of Healing and the cemetery it’s connected to — not exactly a good pairing if you want people to have faith in your hospital. Inside you’ll be directed to the operating theater and the “doctor” on staff.
Make your way into the large room at the back of the hospital and you’ll meet Malus Thorm and his crew of assistants. |
27085 | How to wake Art Cullagh and lift the Shadow Curse in Baldur’s Gate 3
Talk to him and he’ll mutter something about Thaniel. Walk through the dialogue and you’ll learn that he needs some kind of personal item to wake him.
Return to Halsin in camp, and the Druid will decide he needs to see the sleeping man himself. Jump back to the Last Light Inn and talk to Art again, this time with Halsin’s help. Read Art’s last orders letter and a quest marker near Moonrise Towers will appear. Make your way there.
In the town, near the Road to Baldur’s Gate Waypoint, you’ll find the House of Healing and the cemetery it’s connected to — not exactly a good pairing if you want people to have faith in your hospital. Inside you’ll be directed to the operating theater and the “doctor” on staff.
Make your way into the large room at the back of the hospital and you’ll meet Malus Thorm and his crew of assistants. Thorm is an undead boss who is also a “surgeon” torturing a patient. |
27086 | How to wake Art Cullagh and lift the Shadow Curse in Baldur’s Gate 3
Return to Halsin in camp, and the Druid will decide he needs to see the sleeping man himself. Jump back to the Last Light Inn and talk to Art again, this time with Halsin’s help. Read Art’s last orders letter and a quest marker near Moonrise Towers will appear. Make your way there.
In the town, near the Road to Baldur’s Gate Waypoint, you’ll find the House of Healing and the cemetery it’s connected to — not exactly a good pairing if you want people to have faith in your hospital. Inside you’ll be directed to the operating theater and the “doctor” on staff.
Make your way into the large room at the back of the hospital and you’ll meet Malus Thorm and his crew of assistants. Thorm is an undead boss who is also a “surgeon” torturing a patient. Talk to him enough and you’ll end up in some combat. |
27087 | How to wake Art Cullagh and lift the Shadow Curse in Baldur’s Gate 3
Return to Halsin in camp, and the Druid will decide he needs to see the sleeping man himself. Jump back to the Last Light Inn and talk to Art again, this time with Halsin’s help. Read Art’s last orders letter and a quest marker near Moonrise Towers will appear. Make your way there.
In the town, near the Road to Baldur’s Gate Waypoint, you’ll find the House of Healing and the cemetery it’s connected to — not exactly a good pairing if you want people to have faith in your hospital. Inside you’ll be directed to the operating theater and the “doctor” on staff.
Make your way into the large room at the back of the hospital and you’ll meet Malus Thorm and his crew of assistants. Thorm is an undead boss who is also a “surgeon” torturing a patient. Talk to him enough and you’ll end up in some combat. Kill Thorm and his cronies and then loot his body once combat is over. |
27088 | How to wake Art Cullagh and lift the Shadow Curse in Baldur’s Gate 3
Jump back to the Last Light Inn and talk to Art again, this time with Halsin’s help. Read Art’s last orders letter and a quest marker near Moonrise Towers will appear. Make your way there.
In the town, near the Road to Baldur’s Gate Waypoint, you’ll find the House of Healing and the cemetery it’s connected to — not exactly a good pairing if you want people to have faith in your hospital. Inside you’ll be directed to the operating theater and the “doctor” on staff.
Make your way into the large room at the back of the hospital and you’ll meet Malus Thorm and his crew of assistants. Thorm is an undead boss who is also a “surgeon” torturing a patient. Talk to him enough and you’ll end up in some combat. Kill Thorm and his cronies and then loot his body once combat is over. He’ll have a Battered Lute on his person. |
27089 | How to wake Art Cullagh and lift the Shadow Curse in Baldur’s Gate 3
Read Art’s last orders letter and a quest marker near Moonrise Towers will appear. Make your way there.
In the town, near the Road to Baldur’s Gate Waypoint, you’ll find the House of Healing and the cemetery it’s connected to — not exactly a good pairing if you want people to have faith in your hospital. Inside you’ll be directed to the operating theater and the “doctor” on staff.
Make your way into the large room at the back of the hospital and you’ll meet Malus Thorm and his crew of assistants. Thorm is an undead boss who is also a “surgeon” torturing a patient. Talk to him enough and you’ll end up in some combat. Kill Thorm and his cronies and then loot his body once combat is over. He’ll have a Battered Lute on his person. Take it and return to Art back in Last Light. |
27090 | How to wake Art Cullagh and lift the Shadow Curse in Baldur’s Gate 3
Read Art’s last orders letter and a quest marker near Moonrise Towers will appear. Make your way there.
In the town, near the Road to Baldur’s Gate Waypoint, you’ll find the House of Healing and the cemetery it’s connected to — not exactly a good pairing if you want people to have faith in your hospital. Inside you’ll be directed to the operating theater and the “doctor” on staff.
Make your way into the large room at the back of the hospital and you’ll meet Malus Thorm and his crew of assistants. Thorm is an undead boss who is also a “surgeon” torturing a patient. Talk to him enough and you’ll end up in some combat. Kill Thorm and his cronies and then loot his body once combat is over. He’ll have a Battered Lute on his person. Take it and return to Art back in Last Light.
Locate and rescue Thaniel
With the Battered Lute in hand, walk up to Art and accept the prompt to play him a song. |
27091 | How to wake Art Cullagh and lift the Shadow Curse in Baldur’s Gate 3
In the town, near the Road to Baldur’s Gate Waypoint, you’ll find the House of Healing and the cemetery it’s connected to — not exactly a good pairing if you want people to have faith in your hospital. Inside you’ll be directed to the operating theater and the “doctor” on staff.
Make your way into the large room at the back of the hospital and you’ll meet Malus Thorm and his crew of assistants. Thorm is an undead boss who is also a “surgeon” torturing a patient. Talk to him enough and you’ll end up in some combat. Kill Thorm and his cronies and then loot his body once combat is over. He’ll have a Battered Lute on his person. Take it and return to Art back in Last Light.
Locate and rescue Thaniel
With the Battered Lute in hand, walk up to Art and accept the prompt to play him a song. Don’t worry if you’re not proficient in an instrument, your character will just dopily pluck away at the strings until Art wakes up. |
27092 | How to wake Art Cullagh and lift the Shadow Curse in Baldur’s Gate 3
Inside you’ll be directed to the operating theater and the “doctor” on staff.
Make your way into the large room at the back of the hospital and you’ll meet Malus Thorm and his crew of assistants. Thorm is an undead boss who is also a “surgeon” torturing a patient. Talk to him enough and you’ll end up in some combat. Kill Thorm and his cronies and then loot his body once combat is over. He’ll have a Battered Lute on his person. Take it and return to Art back in Last Light.
Locate and rescue Thaniel
With the Battered Lute in hand, walk up to Art and accept the prompt to play him a song. Don’t worry if you’re not proficient in an instrument, your character will just dopily pluck away at the strings until Art wakes up.
After Halsin talks to Art, he’ll decide that he needs to peer into another dimension to rescue Thaniel. |
27093 | How to wake Art Cullagh and lift the Shadow Curse in Baldur’s Gate 3
Make your way into the large room at the back of the hospital and you’ll meet Malus Thorm and his crew of assistants. Thorm is an undead boss who is also a “surgeon” torturing a patient. Talk to him enough and you’ll end up in some combat. Kill Thorm and his cronies and then loot his body once combat is over. He’ll have a Battered Lute on his person. Take it and return to Art back in Last Light.
Locate and rescue Thaniel
With the Battered Lute in hand, walk up to Art and accept the prompt to play him a song. Don’t worry if you’re not proficient in an instrument, your character will just dopily pluck away at the strings until Art wakes up.
After Halsin talks to Art, he’ll decide that he needs to peer into another dimension to rescue Thaniel. Follow him to the shore and get ready for a fight. |
27094 | How to wake Art Cullagh and lift the Shadow Curse in Baldur’s Gate 3
Thorm is an undead boss who is also a “surgeon” torturing a patient. Talk to him enough and you’ll end up in some combat. Kill Thorm and his cronies and then loot his body once combat is over. He’ll have a Battered Lute on his person. Take it and return to Art back in Last Light.
Locate and rescue Thaniel
With the Battered Lute in hand, walk up to Art and accept the prompt to play him a song. Don’t worry if you’re not proficient in an instrument, your character will just dopily pluck away at the strings until Art wakes up.
After Halsin talks to Art, he’ll decide that he needs to peer into another dimension to rescue Thaniel. Follow him to the shore and get ready for a fight. Let Halsin go into the portal on his own and prepare to defend it. |
27095 | How to wake Art Cullagh and lift the Shadow Curse in Baldur’s Gate 3
Thorm is an undead boss who is also a “surgeon” torturing a patient. Talk to him enough and you’ll end up in some combat. Kill Thorm and his cronies and then loot his body once combat is over. He’ll have a Battered Lute on his person. Take it and return to Art back in Last Light.
Locate and rescue Thaniel
With the Battered Lute in hand, walk up to Art and accept the prompt to play him a song. Don’t worry if you’re not proficient in an instrument, your character will just dopily pluck away at the strings until Art wakes up.
After Halsin talks to Art, he’ll decide that he needs to peer into another dimension to rescue Thaniel. Follow him to the shore and get ready for a fight. Let Halsin go into the portal on his own and prepare to defend it. A massive army of undead creatures will appear on the shore and start trying to reach the portal. |
27096 | How to wake Art Cullagh and lift the Shadow Curse in Baldur’s Gate 3
Talk to him enough and you’ll end up in some combat. Kill Thorm and his cronies and then loot his body once combat is over. He’ll have a Battered Lute on his person. Take it and return to Art back in Last Light.
Locate and rescue Thaniel
With the Battered Lute in hand, walk up to Art and accept the prompt to play him a song. Don’t worry if you’re not proficient in an instrument, your character will just dopily pluck away at the strings until Art wakes up.
After Halsin talks to Art, he’ll decide that he needs to peer into another dimension to rescue Thaniel. Follow him to the shore and get ready for a fight. Let Halsin go into the portal on his own and prepare to defend it. A massive army of undead creatures will appear on the shore and start trying to reach the portal.
You’ll need to hold them off for multiple rounds of combat in order to progress the quest. |
27097 | How to wake Art Cullagh and lift the Shadow Curse in Baldur’s Gate 3
Kill Thorm and his cronies and then loot his body once combat is over. He’ll have a Battered Lute on his person. Take it and return to Art back in Last Light.
Locate and rescue Thaniel
With the Battered Lute in hand, walk up to Art and accept the prompt to play him a song. Don’t worry if you’re not proficient in an instrument, your character will just dopily pluck away at the strings until Art wakes up.
After Halsin talks to Art, he’ll decide that he needs to peer into another dimension to rescue Thaniel. Follow him to the shore and get ready for a fight. Let Halsin go into the portal on his own and prepare to defend it. A massive army of undead creatures will appear on the shore and start trying to reach the portal.
You’ll need to hold them off for multiple rounds of combat in order to progress the quest. We recommend Shadowheart here, as she’s able to use Turn Undead against all of the creatures. |
27098 | How to wake Art Cullagh and lift the Shadow Curse in Baldur’s Gate 3
Take it and return to Art back in Last Light.
Locate and rescue Thaniel
With the Battered Lute in hand, walk up to Art and accept the prompt to play him a song. Don’t worry if you’re not proficient in an instrument, your character will just dopily pluck away at the strings until Art wakes up.
After Halsin talks to Art, he’ll decide that he needs to peer into another dimension to rescue Thaniel. Follow him to the shore and get ready for a fight. Let Halsin go into the portal on his own and prepare to defend it. A massive army of undead creatures will appear on the shore and start trying to reach the portal.
You’ll need to hold them off for multiple rounds of combat in order to progress the quest. We recommend Shadowheart here, as she’s able to use Turn Undead against all of the creatures. Gale is also an excellent choice, as his large AoE abilities like Fireball can take out many of the low health critters at once. |
27099 | How to wake Art Cullagh and lift the Shadow Curse in Baldur’s Gate 3
Don’t worry if you’re not proficient in an instrument, your character will just dopily pluck away at the strings until Art wakes up.
After Halsin talks to Art, he’ll decide that he needs to peer into another dimension to rescue Thaniel. Follow him to the shore and get ready for a fight. Let Halsin go into the portal on his own and prepare to defend it. A massive army of undead creatures will appear on the shore and start trying to reach the portal.
You’ll need to hold them off for multiple rounds of combat in order to progress the quest. We recommend Shadowheart here, as she’s able to use Turn Undead against all of the creatures. Gale is also an excellent choice, as his large AoE abilities like Fireball can take out many of the low health critters at once.
Once you’ve successfully defended the portal for the required time, all of the undead will burn up and Halsin will return from the portal carrying Thaniel’s body. |
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