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Author: Girish Shetti
Bengaluru based e commerce giant Flipkart on Thursday announced that it will invest $500 million in its payment arm PhonePe. The commitment for latest capital infusion is in addition to $75 million that Flipkart has already invested in the subsidiary company. The e commerce juggernaut said that the latest investment would be largest in the Indian fintech payments space. Interestingly, this announcement has arrived exactly a day after India’s central bank said that inter-operability of e-wallets will be relaxed in phases. PhonePe co-founder and chief executive officer (CEO) Sameer Nigam stressed that this latest capital infusion will help the company…
India’s largest mobile service provider Bharti Airtel is all set to acquire Tata Teleservices’ losing making mobile business. Although the acquisition will be done on a debt-free cash-free basis, but this still marks one of the biggest deals in Indian telecom history and also Tata’s unceremonious exit from mobile business. The news of acquisition comes amid media reports that Tata Group is mulling to shut down Tata Teleservices, which would have left its more than 5,000 employees unemployed. However, reports of Tata’s trying to sell their mobile business to other competitors including Bharti Airtel were also doing rounds, but these…
Bitcoin’s price soared to an all-time high on Thursday as global investors continue to pour money in the popular cryptocurrency. Bitcoin price touched $5,167.90 in early trade on Thursday, according to data furnished by industry website Coindesk. With today’s record breaking trading, the popular cryptocurrency surpassed the previous high of $5,013.91 hit on the first week of September. Global investors seem to be buoyed by recent news report that China may resume cryptocurrency trading with tight regulations. Last month, China – followed by neighboring South Korea – banned cryptocurrency exchanges across the country and also impose ban on initial coin…
Facebook Inc today launched a new ‘standalone’ virtual reality headset called the Oculus Go at the Oculus Connect event in San Jose. What makes this new VR headset ‘standalone’ is the fact that it does need to be tethered to a computer, like the Oculus Rift that was launched last year. Oculus Go was officially unveiled by Facebook’s CEO Mark Zuckerberg. Zuckerberg claimed at the event that Oculus Go is extremely lightweight & far more comfortable to wear, thereby making the VR experience more personal & accessible phenomena. The company has also gone for major hardware up-gradation for Oculus Go.…
Amazon has finally unveiled waterproof kindle, almost 10 year after it introduced the first ever kindle into the market. The Seattle based internet giant has built the all new water proof kindle on kindle oasis, which was launched in the market last year in April. The news of kindle oasis coming with water proof feature will surely be rejoiced by kindle users, since they have been requesting for this essential feature for a long time now. The company has reportedly tested the new e-book reader in in two meters of water for nearly one hour. It also tested the device…
California based cyber security startup Attivo Networks, which specializes in using deception technology to thwart cyber-attacks, has secured $21 million in fresh round of funding. The funding was led by Trident Capital Cyber security, while Omidyar Technology Ventures & Bain Capital Ventures were other investors that participated in the round. Following the fund raising, Trident Capital’s MD ‘Alberto Yépe’ will join Attivo’s Board of Director team. With the latest funding, Attivo has till now raised $23 million through various rounds. The startup’s last funding of $15 million, which was series B round, happed only five months ago. Founded in 2011,…
Pittsburgh based startup Petuum, which aims to offer companies with tools they need to deploy artificial intelligence (AI) solutions, announced today that it has raked up whopping $93 million from investment giant SoftBank. Advantech Capital and other investors also participated in what was series B round for Petuum. The company’s CEO and founder, Eric Xing, said that the latest capital infusion will be used to hire engineers, salespeople and marketers. Xing added that these new hires will expectedly help the company to commercialize its AI software. Petuum was founded with the noble mission to democratize AI solutions, making even the…
Airbnb’s major Chinese rival Tujia has raised $300M in fresh round of funding, which was led by online travel giant Ctrip. Other high profile investors like All-Stars Investment, Glade Brook, G Street Capital & others also participated in the round. With the latest funding, Tujia’s valuation has zoomed up to approximately $1.5 billion. Tujia’s CEO Luo Jun said that the money raised will be used to further improve customer experience by enhancing the quality of some critical elements – for instance linen washing, cleanliness etc. The company will also use fresh funds to invest in domestic as well as international…
In a series of tweets on Sunday, Microsoft’s Windows 10 Chief Joe Belfiore revealed what many saw it coming for a long time now. Belfiore’s tweets disclosed that the software giant won’t create anymore new software or hardware features for Windows 10 mobile phones. These revelations have made it clear, though not officially, that Microsoft has almost pulled the plug on windows 10 phones. “Of course we’ll continue to support the platform.. bug fixes, security updates,” Belfiore tweeted while responding to a query. “But building new features/hw aren’t the focus.” Microsoft had been giving more than enough subtle hints…
BlackBerry on Monday unveiled a new phone at a special IT Expo event in Dubai. Named as BlackBerry Motion, the company has once again decided to give a ditch to tradition qwerty keyboards in the lieu of touchscreen format. Judging by the specs & price, BlackBerry Motion appears to be targeted at mid-range phone category. The phone comes packed with a Snapdragon 625 chip, 4GB of RAM, 32GB of internal storage, while 12-megapixel rear camera and 5.5-inch 1080p display makes this phone equally feature driven. But BlackBerry Motion’s real USP are not driven by external, but internal features. Take for…
Reports of newly launched iPhone 8 batteries swelling have been reported from China, the world’s largest smartphone market. Although these reports are as of now unconfirmed, but any truth in these reports would spell crisis for Apple’s quest to revive Iphone’s flattering sales in China. The news of iPhone 8 batteries swelling was reported by Chinese state owned ThePaper.cn, after it cited a buyer surnamed Liu as claiming that his newly ordered iPhone 8 Plus arrived at his doorsteps cracked open. Photo displayed on ThePaper.cn’s website shows Liu’s iPhone 8 Plus being split from side, with internal parts clearly visible…