Meta’s revenue declines for first time in its history

Here are the top trending stories from the world of technology. News that we feel every tech enthusiast should keep a tab on.

1)

Meta’s revenue declines for first time in its history

In yet another bad news for Facebook & Instagram’s parent company Meta, the company reported the first ever drop in revenue in its history. While announcing its second quarter results, the company said that its revenue stood at $28 Bn, a mere 1% decline on a year-on-year basis. But what spells more bad news, Meta has predicted that its revenue and other growth numbers in the upcoming third quarter may decline even further.  The company’s overall profit also declined by 37%, with the net profit in the second quarter standing at nearly $6.7 Bn. The growing competition from TikTok and flat growth in ad sales is proving to be a huge concern for Meta’s investors.

2)

Google Map rolls out street view feature in India

To enhance the user experience of its users, Google Map has rolled its much-anticipated street view feature in India. This street view feature will be currently available only in nine Indian cities including Mumbai, Delhi and Chennai. This feature will allow Google Map users to zoom into any road or locality in any of these target cities and view the visual pictures of these roads and localities. Thanks to this feature, you can check out the pictures of local cafes, hospitals, clinics and many other things. By the way, this is the third time that Google has launched the street view features in India, with previous two attempts blocked by the Indian government on the security grounds.

3)

Sunil Mittal’s OneWeb signs $3.4 Bn deal to compete with Elon Musk’s Space X

OneWeb, a satellite internet company backed by Airtel’s promoter Bharati Mittal, has signed a deal worth $3.4 Bn with French satellite company Eutelsat. Following this blockbuster deal, both these companies will merge together to form a single entity and compete with Elon Musk’s company Starlink. The satellite internet market is projected to become a multi-billion dollar industry in the coming years. Buoyed by this rosy future projection, even Mukesh Ambani’s Reliance Jio has forayed into the satellite internet market. By the way, for all those who are not aware, Musk’s company Starlink had applied for an operational license in India but its license has got stuck in regulatory hurdles.

4)

Apple hires top Lamborghini engineer for its secret car project  

Tech giant Apple has reportedly poached a top engineer, Luigi Taraborrelli, from luxury car maker Lamborghini. This top engineer from Lamborghini will now work on Apple’s not so secret car project – a project that was started by Apple way back in 2014. Taraborrelli, according to Bloomberg, had resigned from Lamborghini in June this year. By the way, Apple’s secret car project has seen lots of ups and downs since its inception. The tech giant, at one time, even contemplated buying Elon Musk’s EV company Tesla. However, Musk is believed to have rejected Apple’s acquisition offer.

5)

Paytm Mall suffered a massive Data Breach in 2020

According to cyber security firm Firefox Monitor, Paytm Mall, which is e-commerce an of Paytm, had suffered a massive data breach in 2020. The cyber security firm further claimed that the data breach affected the accounts of over 3.4 Mn users, compromising their invaluable data like phone number, email addresses, names, gender so and forth. If there is any truth in this report then this means Paytm Mall has been hiding about this data breach for so long. However, in an official statement, Paytm Mall has claimed the report of data breach as ‘untrue’ and ‘unsubstantiated.’