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Uber CEO knew that ex-engineer had 5 discs of Google's data
short by Vani Vivek / on 22 Jun 2017,Thursday
In Google's lawsuit against Uber for stealing self-driving car technology, Google has said ousted Uber CEO Travis Kalanick knew in March 2016 that former Google engineer Anthony Levandowski who joined Uber had five discs of confidential Google data. Kalanick reportedly told Levandowski that Uber didn't want the information, following which Levandowski told Kalanick he had destroyed the discs.
short by Vani Vivek / 07:27 pm on 22 Jun
Travis Kalanick resigns as Uber CEO
short by Saloni Tandon / on 21 Jun 2017,Wednesday
Uber CEO and Co-founder Travis Kalanick resigned from his post on Tuesday following pressure from the company's major investors. In a letter titled 'Moving Uber Forward', the investors demanded that Kalanick immediately leave the company and a change in leadership was required. This comes after numerous complaints of sexual harassment and discrimination by the employees at the company.
short by Saloni Tandon / 11:45 am on 21 Jun
Musk, Zuckerberg among America's top 10 highest rated CEOs
short by Mansha Mahajan / on 21 Jun 2017,Wednesday
Aerospace startup SpaceX's Elon Musk and Facebook's Mark Zuckerberg have been ranked among the top 10 CEOs in US with highest ratings in terms of employee approval, according to Glassdoor. Apple's Tim Cook saw his rating slide from 8 to 53. Uber's Travis Kalanick, who has resigned, saw a big drop in popularity and didn't even make the top 100.
short by Mansha Mahajan / 09:03 pm on 21 Jun
Facebook COO Sheryl Sandberg may become Uber CEO: Report
short by Pragya Swastik / on 22 Jun 2017,Thursday
Facebook Chief Operating Officer (COO) Sheryl Sandberg may be appointed as Uber's CEO after former CEO Travis Kalanick's resignation, according to a New York Post report. Uber board member Arianna Huffington has pushed for Sandberg's appointment, the report added. Walt Disney's COO Thomas Staggs is also being considered for the post, but Sandberg is said to be "their first choice."
short by Pragya Swastik / 08:57 am on 22 Jun
Travis Kalanick still owns majority of Uber's voting shares
short by Vani Vivek / on 22 Jun 2017,Thursday
Uber Co-founder Travis Kalanick will remain on Uber's board and retain control of a majority of voting shares, despite having stepped down as CEO. Uber Founders Kalanick and Garrett Camp hold super-voting shares that give them 10 votes per share. Five Uber investors, who have combined voting rights worth 40%, demanded Kalanick's removal in a letter titled 'Moving Uber Forward'.
short by Vani Vivek / 08:22 pm on 22 Jun
47-year-old CEO of Vice Media becomes a billionaire
short by Mansha Mahajan / on 21 Jun 2017,Wednesday
Shane Smith, the Co-founder and CEO of Vice Media, has now become a billionaire. The surge in Smith's fortune came after Vice's $450 million investment round, which pegs the company's valuation at $5.7 billion. With this, 47-year-old Smith has joined 86-year-old Founder of 21st Century Fox Rupert Murdoch as one of the world’s richest media barons.
short by Mansha Mahajan / 03:54 pm on 21 Jun
Uber just fired its Steve Jobs, tweets user on CEO's exit
short by Vani Vivek / on 21 Jun 2017,Wednesday
Reacting to Travis Kalanick's resignation as Uber's CEO, a Twitter user said, "It looks to me like Uber's shareholders just fired their Steve Jobs." Another user said, "I don't think Travis Kalanick is going to get a lot of stars for this ride." Users also supported Kalanick with tweets like, "Travis is a rare breed, a genuine world mover."
short by Vani Vivek / 02:55 pm on 21 Jun
All companies have growing pains: Uber Co-founder
short by Vani Vivek / on 21 Jun 2017,Wednesday
Uber Co-founder Garrett Camp, who is not involved in the ride-hailing startup's day-to-day operations, has written a blog post about Uber's future. "All companies have growing pains. And because Uber grew so fast these growing pains are much more serious," he wrote. Following the announcement of Travis Kalanick's resignation as Uber CEO, some have speculated that Camp might replace him.
short by Vani Vivek / 01:36 pm on 21 Jun
Sequoia Capital India's Managing Director Gautam Mago quits
short by Vani Vivek / on 21 Jun 2017,Wednesday
Gautam Mago, Managing Director at Sequoia Capital India, has resigned after working with the venture capital firm for 10 years. Mago was involved in at least 16 of Sequoia’s technology-enabled portfolio firms like MobiKwik, OYO Rooms, Ola, Practo, and Urban Ladder. Before joining Sequoia, Mago worked with management consulting firm McKinsey & Company.
short by Vani Vivek / 02:21 pm on 21 Jun
Investor who demanded Uber CEO's resignation now praises him
short by Vani Vivek / on 21 Jun 2017,Wednesday
Uber board member and investor Bill Gurley, a partner at venture capital firm Benchmark that demanded Uber CEO Travis Kalanick's resignation, has praised him in a tweet. Five of Uber's investors including Lowercase Capital, Menlo Ventures, and Fidelity Investments, which together own over a quarter of Uber’s stock, sent Kalanick a letter titled 'Moving Uber Forward', compelling him to quit.
short by Vani Vivek / 08:47 pm on 21 Jun
Tesla isn't a good fit for me: Exec who left Apple for Tesla
short by Vani Vivek / on 22 Jun 2017,Thursday
Tesla's Vice President of Autopilot Software Chris Lattner has announced his resignation from the electric car startup, just five months after he left technology major Apple to join Tesla. "Turns out that Tesla isn't a good fit for me after all," he tweeted. Lattner was a senior software developer at Apple and is credited with founding Swift programming language.
short by Vani Vivek / 04:19 pm on 22 Jun
Not sure Instagram has a creative bone: Rival app's founder
short by Vani Vivek / on 21 Jun 2017,Wednesday
Co-founder of social media app Phhhoto Champ Bennett has slammed Instagram for cloning its GIF-making feature and said, "I'm not sure Instagram has a creative bone in their entire body." He added, "We watched Systrom [Instagram CEO] quietly using Phhhoto almost a year before Boomerang was released." Phhhoto announced it is shutting down its app due to "unsustainable" server costs.
short by Vani Vivek / 01:45 pm on 21 Jun
Quilt to set different temperature for each side of bed made
short by Vani Vivek / on 21 Jun 2017,Wednesday
A Canada-based startup has made a quilt called the 'Smartduvet Breeze' that lets users set different temperatures for both sides of the bed through a connected smartphone application. The quilt is an upgrade to the startup's original Smartduvet that automatically makes the bed. The Smartduvet Breeze has been priced at about ₹13,000.
short by Vani Vivek / 07:07 pm on 21 Jun
Artificial intelligence could start World War III: Jack Ma
short by Vani Vivek / on 22 Jun 2017,Thursday
Chinese e-commerce giant Alibaba's billionaire Founder Jack Ma in a recent interview said the third technology revolution could start the third World War, while talking about artificial intelligence. However, Ma said humans will ultimately win the battle as one "can always make a machine to learn the knowledge. But it is difficult for machines to have a human heart."
short by Vani Vivek / 04:15 pm on 22 Jun
Fashion e-commerce portal Fynd closes Series A at ₹22 crore
short by Vani Vivek / on 22 Jun 2017,Thursday
Mumbai-based fashion e-commerce startup Fynd on Wednesday announced that it has closed its Series A round with ₹22 crore. The round was led by IIFL Seed Ventures with participation from Kae Capital, FJ Labs, Singularity Ventures, GrowX, Tracxn Labs and Hong Kong-based Axis Capital. Fynd sources products from offline stores and sells them online.
short by Vani Vivek / 06:52 pm on 22 Jun
Will spend next 10 years finding a successor: Masayoshi Son
short by Pragya Swastik / on 22 Jun 2017,Thursday
Japan's SoftBank Group's 59-year-old billionaire CEO Masayoshi Son on Wednesday said he's not stepping down anytime soon and will spend the next decade identifying a successor. "I feel energised. I couldn't possibly retire," added Son, who said successor would most likely come from the company's management ranks. Son is left without a successor since COO Nikesh Arora quit last year.
short by Pragya Swastik / 12:54 pm on 22 Jun
Board member who pushed for Uber CEO's resignation quits
short by Vani Vivek / on 22 Jun 2017,Thursday
Venture capital firm Benchmark's partner and Uber board member Bill Gurley, who pushed for Uber CEO Travis Kalanick's removal, is leaving the ride-hailing startup. He has reportedly been pressing for Kalanick's resignation since February, after a former Uber engineer wrote a blog post about the startup's sexist culture. Gurley will be replaced by another Benchmark general partner Matt Cohler.
short by Vani Vivek / 02:41 pm on 22 Jun
People will work only 4 days a week in 30 years: Jack Ma
short by Pragya Swastik / on 22 Jun 2017,Thursday
Chinese e-commerce giant Alibaba's billionaire Founder Jack Ma in an interview to CNBC said, "I think in the next 30 years, people will only work four hours a day and maybe four days a week." He said the use of artificial intelligence will reduce working hours. "We should make machines that can do things that humans can't do," he added.
short by Pragya Swastik / 10:12 am on 22 Jun
Investors flew to Uber CEO to give letter urging resignation
short by Pragya Swastik / on 22 Jun 2017,Thursday
Uber Co-founder and former CEO Travis Kalanick was hand-delivered a letter urging him to step down from his role by two investors who flew down to him. Matt Cohler and Peter Fenton, partners at venture capital firm Benchmark, delivered the letter to Kalanick. The letter was signed by five major investors, who account for 40% of shareholder votes.
short by Pragya Swastik / 01:33 pm on 22 Jun
Startup Mswipe raises ₹200cr from Ratan Tata's fund, others
short by Pragya Swastik / on 22 Jun 2017,Thursday
Mumbai-based mobile point-of-sale services provider Mswipe on Wednesday raised ₹200 crore in Series D funding round from Ratan Tata-led UC-RNT Fund, Matrix Partners and other investors. Existing investors Falcon Edge Capital and DSG Consumer Partners also invested in this round. Axis Bank made an exit from the startup by selling its entire 8% stake in Mswipe for ₹80.94 crore.
short by Pragya Swastik / 09:54 am on 22 Jun
Bike-sharing startup shuts in 5 months as 90% bikes stolen
short by Vani Vivek / on 22 Jun 2017,Thursday
Chinese bike-sharing startup Wukong Bike has shut down just five months after launching as 90% of its 1,200 bikes were stolen. The startup reportedly incurred a loss of ₹95 lakh during this period. Wukong's Founder Lei Houyi said that the startup's bikes went missing because it had failed to install GPS devices in the cycles.
short by Vani Vivek / 04:27 pm on 22 Jun
Flipkart might buy Snapdeal for $400 mn, not $1 bn: Report
short by Vani Vivek / on 22 Jun 2017,Thursday
According to reports, e-commerce major Flipkart is looking to buy competitor Snapdeal for $350-400 million. This comes after reports in May suggested that Flipkart had offered to buy Snapdeal for $1 billion in an all-stock deal. The $400 million figure is a near 94% discount to Snapdeal's $6.5 billion valuation when it last raised money in 2016.
short by Vani Vivek / 07:52 pm on 22 Jun
Quikr buys job listing startup Babajob in 11th acquisition
short by Pragya Swastik / on 22 Jun 2017,Thursday
Quikr on Wednesday acquired job listing platform Babajob for an undisclosed amount, marking its 11th startup acquisition to date. Babajob Co-founders Sean Blagsvedt and Vir Kashyap will quit the company following the acquisition, and Babajob will continue to operate as a separate entity. Founded in 2007 by Sean, Kashyap and Ira Weise, Babajob raised a total of $10 million.
short by Pragya Swastik / 10:41 am on 22 Jun
Uber driver arrested for ‘misbehaving’ with Kerala techie
short by Vani Vivek / on 22 Jun 2017,Thursday
An Uber driver has been arrested for allegedly misbehaving with a female IT professional of Technopark in Thiruvananthapuram. According to the complaint, the driver made attempts to befriend the woman and grabbed her leg below the knee. The police said the 32-year-old driver was held on a complaint from 'Prathidhwani,' a socio-cultural outfit of the Technopark employees.
short by Vani Vivek / 01:25 pm on 22 Jun
SoftBank invests $100 mn in cybersecurity startup Cybereason
short by Krishna Veera Vanamali / on 22 Jun 2017,Thursday
Cybersecurity startup Cybereason has raised $100 million (over ₹645 crore) from Japan's SoftBank. The startup, founded by former operatives of Israel's "Unit 8200" military intelligence group, uses artificial intelligence to detect breaches of computer networks. The company, now valued at over $850 million (around ₹5500 crore), counts SoftBank, Lockheed Martin, and Spark Capital among its backers.
short by Krishna Veera Vanamali / 09:27 pm on 22 Jun
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