DFNN appoints Nicholas Te as director
Te is a Tesla engineer with a degree from the University of California.
The Philippines.- The gaming technology firm DFNN Inc has announced the appointment of Nicholas Te to its Board of Directors. In a press release, DFNN said that Te holds a bachelor’s degree in Materials Science and Engineering from the University of California in Berkeley and works as an engineer at Elon Musk’s Tesla.
According to the company, Te’s addition to the board brings a wealth of experience in innovation, strategic thinking, and team collaboration.
Te stated: “As DFNN starts diversification, it is exciting to hear that we will be among the first to venture into space investment. As a country behind in the space race, primarily for operational and commercial satellites, I believe that our foray will create a platform for investments in weather, communication, and land development/mineral resource technologies. DFNN’s storied experience with gaming, digital commerce, cyber security, and artificial intelligence will greatly benefit our navigation of these untested waters.”
In 2022, DFNN posted a 69 per cent increase in revenue to PHP905.8m (US$16.1m). EBITDA amounted to PHP228.7m (US$4.1m) versus a loss before interest, taxes, depreciation and amortization of PHP252.2m yearly.
Gross profit was up 333.1 per cent year-on-year from PHP135.5m (US$2.41m) to PHP586.6m (US$10.43m). Net income grew 117.3 per cent when compared to the previous year to PHP73.9m (US$1.31m).
