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Bezos can become world's richest person in 3 weeks: Forbes
short by Pragya Swastik / on 25 Jul 2017,Tuesday
E-commerce major Amazon's Founder and CEO Jeff Bezos can become the world's richest person by overtaking Microsoft's Bill Gates' net worth in only three weeks, according to Forbes. While Bezos' current net worth stands at $88.2 billion, Gates' net worth is $90.1 billion. Notably, Gates has been named the world's richest person for 18 times by Forbes.
short by Pragya Swastik / 10:37 am on 25 Jul
Snapdeal board approves Flipkart's $950mn buyout bid: Report
short by Vani Vivek / on 26 Jul 2017,Wednesday
The board of online marketplace Snapdeal has reportedly accepted bigger rival Flipkart's revised takeover offer of $900-950 million. This comes after reports suggested Snapdeal had rejected Flipkart's $800-850 million offer earlier this month. Flipkart's offer is said to include Snapdeal's marketplace business and Unicommerce, but not Snapdeal-owned app FreeCharge and logistics arm Vulcan Express.
short by Vani Vivek / 01:58 pm on 26 Jul
Snapdeal Founders pushing for sale to Infibeam, not Flipkart
short by Pragya Swastik / on 24 Jul 2017,Monday
Snapdeal Co-founders Rohit Bansal and Kunal Bahl are pushing for a sale of their e-commerce startup to smaller rival Infibeam and not Flipkart, according to a Livemint report. However, Snapdeal’s largest investor SoftBank continues to push for a sale to bigger rival Flipkart, the report added. Infibeam had reportedly offered to buy Snapdeal for $700 million last week.
short by Pragya Swastik / 10:12 am on 24 Jul
Uber rival Grab gets $2 billion funding from Didi, SoftBank
short by Pragya Swastik / on 24 Jul 2017,Monday
Ride-hailing app Uber's biggest Southeast Asia rival Grab has raised $2 billion in new funding from existing investors SoftBank, and Didi Chuxing, the company that bought Uber's China business. The round could expand by $500 million with funding from other existing backers and new investors. The new funding gives Grab a valuation of more than $6 billion.
short by Pragya Swastik / 12:04 pm on 24 Jul
Wearable shocks users to keep them awake while driving
short by Pragya Swastik / on 22 Jul 2017,Saturday
Latvian startup Creative Mode has made a ₹15,000 wearable 'Steer' that gives shocks to the users to keep them awake when they're driving. Packed with 16 sensors, the wearable constantly measures the wearer's heart rate and skin conductance. It compares the tracked data with the normal, and sends a strong vibration to alert the users if the data doesn't match.
short by Pragya Swastik / 09:29 am on 22 Jul
Musk trolls Zuckerberg over artificial intelligence remark
short by Vani Vivek / on 25 Jul 2017,Tuesday
Tesla and SpaceX CEO Elon Musk on Tuesday took to Twitter to say Facebook CEO Mark Zuckerberg has a "limited" understanding of artificial intelligence (AI). Earlier, Musk had called AI the "greatest risk we face as a civilisation", to which Zuckerberg responded with, "naysayers...try to drum up these doomsday scenarios...I actually think it is pretty irresponsible."
short by Vani Vivek / 03:44 pm on 25 Jul
2 Bengaluru men held for snatching chains to fund start-up
short by Radhika Chugh / on 24 Jul 2017,Monday
The Bengaluru Police on Saturday arrested two men suspected of being involved in 29 incidents of chain-snatching to fund their start-up. They reportedly recovered gold chains worth ₹35 lakh. Police officials said the accused wanted to arrange ₹2 lakh for building up an app which would act as a directory for top schools in the city.
short by Radhika Chugh / 09:10 am on 24 Jul
Facebook acquires content rights management startup Source3
short by Pragya Swastik / on 25 Jul 2017,Tuesday
In order to help creators monetise their content without allowing piracy to run rampant, Facebook has acquired content rights management startup Source3, including its team and technology. Source3's technology allows Facebook to keep a track of user-generated content and help them take action against infringers over copyrights and trademarks. Founded in 2014, Source3 had raised over $4 million.
short by Pragya Swastik / 09:58 am on 25 Jul
LeEco appoints new Chairman from property developer Sunac
short by Vani Vivek / on 21 Jul 2017,Friday
Cash-strapped technology group LeEco's main publicly listed arm Leshi has said Sun Hongbin from property developer Sunac China will take over as Chairman from Founder Jia Yueting. Sun is also the Chairman of Sunac, which invested over ₹14,000 crore in LeEco earlier this year. Jia will focus on LeEco's electric vehicles partner Faraday Future in the US.
short by Vani Vivek / 03:44 pm on 21 Jul
Elon Musk meets US official to discuss Boring Company tunnel
short by Vani Vivek / on 22 Jul 2017,Saturday
Billionaire Elon Musk met with Hawthorne Mayor Alex Vargas this week to discuss the tunnel being dug by The Boring Company to help commuters avoid traffic. The two toured the Los Angeles facility, on which work began in May this year. Musk recently revealed that he had 'verbal approval' to build a Hyperloop tunnel connecting New York to Washington DC.
short by Vani Vivek / 08:00 pm on 22 Jul
Uber rival Lyft launches a new self-driving car unit
short by Pragya Swastik / on 22 Jul 2017,Saturday
At a time when Uber is struggling with a Google lawsuit alleging it of self-driving car technology theft, one of the Uber's biggest rivals, Lyft has launched a new self-driving car unit. The unit will be a combination of self-driving car hardware and software system. Lyft plans to tie up with carmakers to launch its own fleet of self-driving cars.
short by Pragya Swastik / 11:24 am on 22 Jul
Billionaire Bill Gates invests in trucking startup Convoy
short by Shifa Naseer / on 25 Jul 2017,Tuesday
World's richest man Bill Gates' Cascade Ventures has invested in US-based trucking startup Convoy along with other investors in an over ₹380 crore Series B funding round. Amazon CEO Jeff Bezos had also invested in the startup earlier in 2015. The two-year-old startup makes a software that matches nearby and available truckers to a shipping job.
short by Shifa Naseer / 06:12 pm on 25 Jul
Snapchat hires team to prevent rivals from stealing features
short by Vani Vivek / on 22 Jul 2017,Saturday
Snapchat has acquired Swiss startup Strong.Codes' team that develops tools to hide software code, making it harder for competitors to copy. Facebook has faced flak for copying some of Snapchat's features, including 'stories' tool that allows people to post short videos for 24 hours. In May, Snapchat CEO Evan Spiegel said, "People copy your products if you make great stuff."
short by Vani Vivek / 05:42 pm on 22 Jul
Freshworks buys Gurugram-based Joe Hukum in 8th acquisition
short by Vani Vivek / on 21 Jul 2017,Friday
Customer engagement platform Freshworks, formerly known as Freshdesk, has bought Gurugram-based Joe Hukum in its 8th acquisition in two years. Joe Hukum runs a platform for businesses to build their own chatbots. Founded in 2010 by Girish Mathrubootham and Shan Krishnasamy, Freshworks is one of India's most-well funded SaaS (software-as-a-service) startups, having raised about $150 million.
short by Vani Vivek / 02:46 pm on 21 Jul
TechCrunch writer reveals harassment by 500 Startups Partner
short by Pragya Swastik / on 23 Jul 2017,Sunday
News website TechCrunch's writer Catherine Shu has revealed she was sexually harassed by Silicon Valley-based venture fund 500 Startups' Tristan Pollock in 2015. After Shu's revelation, 500 Startups has begun an investigation into the matter and put Pollock on an administrative leave of absence. Notably, 500 Startups' Founder Dave McClure had recently quit for sexually harassing many females.
short by Pragya Swastik / 09:09 am on 23 Jul
Amazon accused of misleading users with discount pricing
short by Vani Vivek / on 21 Jul 2017,Friday
Federal Trade Commission in the US is reportedly probing allegations that Amazon misleads customers with its discount pricing. The complaint by advocacy group Consumer Watchdog claims that the 'before price' listed on discounted items is often higher than the actual price, deceiving users into believing they're saving more money. The group has asked FTC to block Amazon's Whole Foods acquisition.
short by Vani Vivek / 04:28 pm on 21 Jul
Microsoft may invest up to $100 million in Ola: Reports
short by Vani Vivek / on 25 Jul 2017,Tuesday
Technology major Microsoft is reportedly looking to invest $50-100 million (up to ₹640 crore) in ANI Technologies, the parent company of ride-hailing startup Ola. As part of the deal, Ola will reportedly switch from Amazon Web Services (AWS) to Microsoft’s Azure cloud platform. In April, Microsoft invested in Flipkart as part of a $1.4 billion round.
short by Vani Vivek / 02:50 pm on 25 Jul
Former Urban Ladder exec joins Uber India as Marketing Head
short by Shifa Naseer / on 25 Jul 2017,Tuesday
Former Chief Marketing Officer of furniture e-tailer Urban Ladder Sanjay Gupta has joined Uber as its Head of Marketing in India. According to reports, Gupta left Urban Ladder in April and joined Uber in May this year. Earlier in 2017, Uber hired former BSE CEO Madhu Kannan as Chief Business Officer for India and emerging markets.
short by Shifa Naseer / 06:35 pm on 25 Jul
Have verbal approval to build New York-DC Hyperloop: Musk
short by Pragya Swastik / on 21 Jul 2017,Friday
Elon Musk on Thursday tweeted that he has received verbal government approval for The Boring Company to build an underground Hyperloop connecting New York to Washington, DC. He further claimed that the Hyperloop will cut the time taken to travel between the two cities to just 29 minutes. Currently, it takes 3 hours and 20 minutes to cover that distance.
short by Pragya Swastik / 09:03 am on 21 Jul
Indian edtech startup Byju's raises funding from Tencent
short by Vani Vivek / on 25 Jul 2017,Tuesday
Bengaluru-based education technology startup Byju's has raised an undisclosed amount of funding from Chinese internet conglomerate Tencent. In September 2016, Byju's had raised about ₹320 crore from a clutch of investors including Chan Zuckerberg Initiative and Sequoia Capital. Byju's also acquired edtech platforms TutorVista and Edurite from Pearson earlier this year.
short by Vani Vivek / 07:58 pm on 25 Jul
Dutch startup makes lamp powered by plants
short by Vani Vivek / on 23 Jul 2017,Sunday
Dutch product designer Ermi van Oers' startup Living Light has created a lamp that is powered with the help of the photosynthetic process of a plant. The lamp can produce up to 0.1 mW by harvesting energy from electrons released by bacteria in the soil due to photosynthesis. Further, the longevity of light depends on the well-being of the plant.
short by Vani Vivek / 07:30 pm on 23 Jul
Amazon patents robot that follows user to charge their phone
short by Vani Vivek / on 23 Jul 2017,Sunday
Amazon has received a patent for a robot that would follow people around in public places like airports and malls, and charge their devices. Users will be able to summon the robots with an application on their phones or laptops. Further, users can either pay a fee, watch an advertisement or participate in a survey to avail the robots' services.
short by Vani Vivek / 06:06 pm on 23 Jul
No dearth of funding opportunities for startups: IAN Partner
short by Vani Vivek / on 21 Jul 2017,Friday
Former Cisco Director Pratik Bose, who recently joined Indian Angel Network (IAN) as the Managing Partner of its maiden fund, has said there is no dearth of funding opportunities for young Indian startups. "While early-stage investors have exited and brought in much-needed liquidity, they have made way for later-stage investors to come in," Bose added.
short by Vani Vivek / 03:25 pm on 21 Jul
Myntra Co-founder's healthcare startup acquires a1000yoga
short by Vani Vivek / on 22 Jul 2017,Saturday
Myntra Co-founder Mukesh Bansal's healthcare startup Cure.Fit has acquired Bengaluru-based yoga centre brand a1000yoga. Launched in 2011 by yoga teacher Pradeep Sattwmaya, a1000yoga has three yoga centres, two of which will be rebranded as Mind.Fit and the third will be converted into a fitness centre. The deal marks Cure.Fit's third acquisition since starting out last year.
short by Vani Vivek / 02:30 pm on 22 Jul
Amazon Founder Jeff Bezos joins Instagram
short by Pragya Swastik / on 21 Jul 2017,Friday
Amazon and space startup Blue Origin's billionaire Founder Jeff Bezos has joined photo and video sharing platform Instagram. The first post on his account is a video that shows a flyover preview of Blue Origin’s new rocket factory. Heavy-lift New Glenn launch vehicle is being made at the factory which is intended to carry payloads and passengers to space.
short by Pragya Swastik / 11:07 am on 21 Jul
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