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Ola Co-founder Bhavish among TIME's 100 Most Influential People
short by Krishna Veera Vanamali / on 19 Apr 2018,Thursday
Bhavish Aggarwal, the Co-founder and CEO of ride-hailing startup Ola, has been named in TIME magazine's 100 Most Influential People of 2018 list. Writing for TIME, Flipkart Chairman Sachin Bansal called the 32-year-old the "flag bearer for India's consumer-tech ecosystem". Aggarwal started Ola in 2010 along with fellow IIT Bombay alumnus Ankit Bhati, who is now the company's CTO.
short by Krishna Veera Vanamali / 07:48 pm on 19 Apr
Funds raised to buy Musk a couch after he complains about it
short by Shifa Naseer / on 18 Apr 2018,Wednesday
People have launched a fund-raising campaign to buy Elon Musk a new couch after he complained that he slept on the floor as his old couch at Tesla office was too "narrow" and "terrible". The plan is to contact Elon Musk, who has a $19.2 billion net worth, and send the couch if he agrees to accept the gift.
short by Shifa Naseer / 12:54 pm on 18 Apr
Ex-Yahoo CEO sets up tech incubator at old Google office
short by Aditi Verma / on 19 Apr 2018,Thursday
Former Yahoo CEO Marissa Mayer has set up a technology incubator called Lumi Labs at an old Google office. The incubator, which is named after snow, focusses on consumer media and artificial intelligence space. Notably, Mayer started her career with Google in 1999 where she worked for 13 years and managed multiple products before joining Yahoo.
short by Aditi Verma / 06:38 pm on 19 Apr
India shouldn't let firms hijack data: Paytm COO on FB row
short by Aditi Verma / on 17 Apr 2018,Tuesday
Talking about the data scandal at Facebook, Paytm COO Kiran Vasireddy has said it is important that India doesn't "allow these entities to hijack our data, to be sold and misused for their own gain." He added that in light of Facebook CEO Mark Zuckerberg's testimony, it is clear that their "business model lies around selling of the data".
short by Aditi Verma / 01:25 pm on 17 Apr
Man claims a fake Paytm employee tried to steal his password
short by Aditi Verma / on 20 Apr 2018,Friday
Paytm user Shobhit Bakliwal has alleged a man posing as a Paytm employee tried to steal his password on the pretext of completing KYC. The scammer asked him to log in on the former's phone but Bakliwal said he forgot the password. Bakliwal then tried to reset the password on the accused's app but didn't receive an OTP.
short by Aditi Verma / 10:06 am on 20 Apr
Walk out of meeting if you can't add value: Musk to staff
short by Aditi Verma / on 19 Apr 2018,Thursday
In an email to employees giving productivity recommendations, Tesla CEO Elon Musk said, "Walk out of a meeting or drop off a call as soon as it is obvious you aren't adding value." "It is not rude to leave, it is rude to make someone...waste their time," he added. Musk urged the company's employees to get rid of frequent meetings.
short by Aditi Verma / 06:48 pm on 19 Apr
Orkut Founder's new venture in talks to raise funds in India
short by Shifa Naseer / on 17 Apr 2018,Tuesday
Hello Network, the new social network launched by the Orkut Founder Orkut Büyükkökten, is in talks to raise money from strategic investors in India. Büyükkökten said that though Hello Network will show ads, it will not share user data with advertisers or any other third party. The social platform was launched by Büyükkökten after he left Google in 2014.
short by Shifa Naseer / 03:23 pm on 17 Apr
Startup using AI to develop new drugs raises $115 million
short by Aditi Verma / on 19 Apr 2018,Thursday
London-based startup BenevolentAI, which uses artificial intelligence (AI) to develop new medicines has raised $115 million at a valuation of $2 billion. New and existing investor participated in the funding round of BenevolentAI which has raised over $200 million since it was founded in 2013. BenevolentAI claims its technology outperforms human scientists in understanding the cause of diseases.
short by Aditi Verma / 02:42 pm on 19 Apr
Coinbase buys Earn.com, appoints an Indian-American CTO
short by Manaya Bagga / on 17 Apr 2018,Tuesday
Cryptocurrency exchange Coinbase on Monday announced that it has acquired Earn.com, which lets users send and receive digital currency for replying to e-mails and completing tasks. As part of the reported $100 million deal, Earn's CEO Balaji Srinivasan will become Coinbase's first Chief Technology Officer (CTO). The rest of the Earn.com team will also move over to Coinbase.
short by Manaya Bagga / 05:09 pm on 17 Apr
Mumbai startup hiring interns over 60 years of age
short by Aditi Verma / on 19 Apr 2018,Thursday
Mumbai-based used cars selling startup Truebil has announced it is hiring interns who are over 60 years of age. The interns will be given a stipend of ₹15,000 per month and will be hired for three months. The objective behind this is to mentor the startup's existing young employees and to help the interns understand how latest technology works.
short by Aditi Verma / 04:02 pm on 19 Apr
IIT Delhi to help PhD students convert thesis into startups
short by Aditi Verma / on 18 Apr 2018,Wednesday
Indian Institute of Technology (IIT) Delhi will help its doctoral students in converting their theses into startups, Director V Ramgopal Rao has announced. Shortlisted students will be provided a monthly compensation "at par with the industry salary" to set up the business. The three-year fellowship will also provide seed capital, free mentoring, and accommodation to the students.
short by Aditi Verma / 09:51 am on 18 Apr
Tesla failed to disclose worker injuries at factory: Report
short by Shifa Naseer / on 17 Apr 2018,Tuesday
Tesla reportedly did not disclose some worker injuries at its Fremont factory including "sliced by machinery, crushed by forklifts, electrical explosions and sprayed with the molten metal." Reports claim the injuries were reported to supervisors or managers, but the complaints were dismissed. However, Tesla maintains its injury rate at the factory is half of what it was a decade ago.
short by Shifa Naseer / 12:35 pm on 17 Apr
All Tesla expenses above $1 mn must be approved by me: Musk
short by Aditi Verma / on 18 Apr 2018,Wednesday
Talking about Tesla generating profits, CEO Elon Musk has said, "All capital or other expenditures above a million dollars...should be considered on hold until explicitly approved by me." Now that Tesla has reached economies of scale, it'll be more rigorous about expenditures, he added. He also asked the finance team to cut "everything that doesn't have a strong value justification."
short by Aditi Verma / 10:30 pm on 18 Apr
We are doubling down our investments in India: Uber COO
short by Aditi Verma / on 19 Apr 2018,Thursday
Uber COO Barney Harford has said, "We are doubling down on our investments in this country like never before", adding that the country is "absolutely a core market, now and in the future." Harford highlighted Uber has "no interest in doing minority deals going forward." His statement comes after reports said Ola was in talks to acquire Uber's India business.
short by Aditi Verma / 10:52 am on 19 Apr
SpaceX launches NASA's planet-finding satellite on Falcon 9
short by Aditi Verma / on 19 Apr 2018,Thursday
Elon Musk-led SpaceX on Wednesday launched NASA's space telescope TESS (Transiting Exoplanet Survey Satellite) to search for other planets orbiting distant stars, aboard Falcon 9 rocket. SpaceX also landed the rocket's first stage on the 'Of Course I Still Love You' droneship. The Satellite is expected to catalog hundreds of planets that are less than twice the size of Earth.
short by Aditi Verma / 09:53 am on 19 Apr
Flipkart investors agree to sell stake to Walmart: Reports
short by Aditi Verma / on 17 Apr 2018,Tuesday
US-based Walmart has reached an agreement on buying the stakes of key Flipkart investors including Tiger Global Management, Naspers, Accel, and Tencent Holdings, as per reports. However, Flipkart's biggest stakeholder SoftBank is seeking a better price to sell the stake at around $15-17 billion, reports added. Walmart had offered $10-12 billion to acquire a majority stake in the Indian startup.
short by Aditi Verma / 12:59 pm on 17 Apr
Myntra buys IIT-alumni co-founded wearable tech startup
short by Shifa Naseer / on 17 Apr 2018,Tuesday
Online fashion store Myntra has acquired technology wearable startup Witworks for an undisclosed amount. As part of the acquisition, Myntra has absorbed the Bengaluru-based startup's team into its Innovation Labs initiative, which explores product ideas, the company said in a statement. Witworks was co-founded by IIT Kharagpur alumni Somnath Meher, Ankit DP and Chandrashekhar Iyer in 2015.
short by Shifa Naseer / 01:17 pm on 17 Apr
Ola to lead $7 mn round in bike-sharing startup Vogo: Report
short by Shifa Naseer / on 18 Apr 2018,Wednesday
Homegrown cab aggregator Ola is reportedly in talks with Bengaluru-based bike-sharing startup Vogo Automotive to lead a $5-7 million round of funding. Ola is expected to lead the round with venture capital firms Stellaris Ventures Partners and Matrix Partners. Founded in 2016, the startup offers round-the-clock scooter rental service, intended as a cost-effective alternative to cabs and autos.
short by Shifa Naseer / 12:30 pm on 18 Apr
Uber rival Lyft's drivers earned over $500mn in tips to date
short by Shifa Naseer / on 17 Apr 2018,Tuesday
Uber rival Lyft's drivers have received over $500 million in tips from their customers, the ride-hailing service announced on Monday. While the first $100 million came in over a four-year period, the last $100 million were received in just four months, the company said. In comparison, Uber hit $50 million in tips within three months as of August, 2017.
short by Shifa Naseer / 03:31 pm on 17 Apr
Bengaluru chai retailer Chai Point raises $20 million
short by Aditi Verma / on 19 Apr 2018,Thursday
Bengaluru-based chai retailing startup Chai Point has raised $20 million in its Series C funding round led by Paragon Partners. Existing investors Saama Capital and DSG Consumer Partners also participated in the round. Founded in 2010, Chai Point delivers several varieties of tea and accompanying snacks to offices and working professionals in India and also has retail stores.
short by Aditi Verma / 03:53 pm on 19 Apr
Roti-making device startup Zimplistic raises $30 million
short by Aditi Verma / on 18 Apr 2018,Wednesday
Singapore-based Zimplistic, the developer of automatic roti-maker Rotimatic, has raised $30 million Series C funding round led by Credence Partners and EDBI. Existing investors including NSI Ventures and Robert Bosch Venture Capital also participated in the funding round. Zimplistic's flagship product is an automatic roti-maker that measures, kneads, rolls, cooks, and puffs round flatbreads.
short by Aditi Verma / 11:12 am on 18 Apr
Mumbai insurance startup Coverfox raises $22 million
short by Aditi Verma / on 19 Apr 2018,Thursday
Mumbai-based online insurance startup Coverfox has raised $22 million in its Series C funding round led by International Finance Corporation, a sister organisation of the World Bank. Existing investors SAIF Partners and Accel Partners also participated in the round. Founded in 2013, the startup is an online insurance marketplace that compares insurance policies for its users.
short by Aditi Verma / 01:09 pm on 19 Apr
Walmart may retain Flipkart's top execs after deal: Reports
short by Aditi Verma / on 19 Apr 2018,Thursday
US-based Walmart, which is reportedly in talks to acquire a controlling stake in India's Flipkart, may retain the e-commerce startup's top executives if the deal goes through, as per reports. Flipkart CEO Kalyan Krishnamurthy and Flipkart-owned Myntra's CEO Ananth Narayanan are likely to continue in their roles. Earlier, reports said key Flipkart investors have agreed to sell their stakes.
short by Aditi Verma / 11:22 am on 19 Apr
US' Gray Matters Capital to fund ed-tech startups in India
short by Shifa Naseer / on 19 Apr 2018,Thursday
US-based investing foundation Gray Matters Capital (GMC) has launched an accelerator program called 'GMC Calibrator' which will focus on education tech startups in India. The fund will invest a total of $2 million in startups that it mentors and plans to conduct one cohort every year. The programme will not pick any equity stake in exchange for funding, GMC added.
short by Shifa Naseer / 08:56 am on 19 Apr
Bengaluru healthcare startup PregBuddy raises funds
short by Aditi Verma / on 17 Apr 2018,Tuesday
Bengaluru-based healthcare startup PregBuddy has raised an undisclosed amount in a seed funding round led by Indian Angel Network. Google India MD Rajan Anandan and YuMe Co-founder Jayant Kadambi also participated in the funding round. Founded in 2016 by former IIT Kharagpur graduates Subhadeep and Sivareena, the startup gives pregnancy tips to users and also lets them track their health.
short by Aditi Verma / 07:55 pm on 17 Apr
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