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A Twitter user named Kanav Sharma narrated an incident where he claims his Ola driver, who overheard his phone conversation about India's economic situation, called him an "anti-national", saying he must also be against CAA and NRC. Later, Ola said it "reported the driver for correction action." However, '#BoycottOla' began trending on Twitter, with users warning Ola against any action.
short by Dharna / 10:14 am on 25 Jan
What are some of the major investments made by NBA legend Kobe Bryant?
short by Pragya Swastik / on 27 Jan 2020,Monday
NBA legend Kobe Bryant, who died in a helicopter crash aged 41, was also an investor and entrepreneur who began investing in businesses before leaving NBA in 2016. In 2013, he co-founded $100-million venture capital firm Bryant Stibel, which invested in China's Alibaba and startups like Tile and Juicero. It claims at least 10 successful exits, including Alibaba and Dell.
short by Pragya Swastik / 08:05 pm on 27 Jan
Condoling NBA legend Kobe Bryant's demise, investor and Dallas Mavericks owner Mark Cuban tweeted, "It hurts that it takes a tragedy to remind us of our mortality." "We can never forget how precious life is," he wrote in another tweet. His team has decided that in honour of Kobe, Number 24 will never again be worn by a Dallas Maverick.
short by Pragya Swastik / 10:43 am on 27 Jan
Dream11 close to raising $500 mn funding led by Tiger Global: Report
short by Pragya Swastik / on 27 Jan 2020,Monday
Tiger Global Management is likely to lead a $500 million funding round in fantasy gaming platform Dream11, Livemint reported. Tiger could spend around $200 million to buy new shares as well as shares of early investors at a $2.5 billion valuation. With this investment, Dream11 will be worth more than double its $1.1 billion valuation in April 2019, Livemint reported.
short by Pragya Swastik / 03:01 pm on 27 Jan
Noida-based payment solutions provider Pine Labs has reportedly become India's first unicorn in 2020 with funding from US-based Mastercard. While Pine Labs confirmed the investment without disclosing the details, reports estimated the amount to be at $100-150 million (₹713-1,069 crore), taking Pine Labs' valuation to as much as $1.6 billion. It was reportedly last valued at $800 million in 2018.
short by Dharna / 10:00 am on 26 Jan
A video that shows Tesla CEO Elon Musk greeting a passerby on road while sitting inside a Cybertruck being driven by American comedian Jay Leno has gone viral on social media and was retweeted by Musk himself. The video was taken near SpaceX headquarters in California. The Cybertruck was reportedly a part of shooting for Leno's show 'Jay Leno's Garage'.
short by Pragya Swastik / 07:00 am on 27 Jan
Over-fermented batter once caused a small blast: iD Fresh Co-founder
short by Pragya Swastik / on 26 Jan 2020,Sunday
Bengaluru-based ready-to-cook food startup iD Fresh's Co-founder PC Musthafa in a YourStory interview said that during their early days, they supplied idli-dosa batter packets to a grocery store. The store didn't have a refrigerator and one day the batter over-fermented, causing a small blast, he added. Founded in 2005, iD Fresh now counts Helion Ventures and Premji Invest among investors.
short by Pragya Swastik / 07:14 pm on 26 Jan
A Wall Street Journal report has claimed prosecutors have evidence that Amazon CEO Jeff Bezos' girlfriend Lauren Sanchez gave intimate texts exchanged between the couple to her brother, who leaked them to US newspaper National Enquirer. The report stated that Michael Sanchez received $200,000 from the newspaper. Bezos had in 2019 accused the newspaper's owner of trying to blackmail him.
short by Ankush Verma / 10:25 am on 25 Jan
Tesla car works as a boat for short periods of time, says CEO Elon Musk
short by Pragya Swastik / on 26 Jan 2020,Sunday
Elon Musk on Sunday claimed that Tesla cars work as boats for short periods of time as an electric car has no air intake or exhaust to block and its battery/motor/electronics are water-sealed. The Tesla CEO claimed this in a tweet while responding to a video on how to escape a sinking car. "Submarines are just underwater EVs," Musk added.
short by Pragya Swastik / 04:54 pm on 26 Jan
Two years after Vine Co-founder Dom Hofmann announced he was building a sequel to the short-form video-sharing app 'Vine', the app named 'Byte' has been released. Like Vine, Byte also lets users create and share six-second looping videos. Hofmann co-founded Vine in 2012, which was then acquired by Twitter. However, Twitter shut the app down in 2017 to cut costs.
short by Dharna / 01:44 pm on 25 Jan
Paytm Payments Bank submits 3,500 numbers of scamsters to govt
short by Aishwarya / on 25 Jan 2020,Saturday
Paytm Payments Bank said it has submitted a list of 3,500 phone numbers of people involved in SMS and call scams to TRAI and the Home Ministry, among others. The bank also raised the need for timely and effective legal action against the fraudsters. It has also filed an FIR against them with the cyber cell for immediate action.
short by Aishwarya / 10:03 pm on 25 Jan
TikTok hires Microsoft IP chief Erich Andersen as General Counsel
short by Aishwarya / on 25 Jan 2020,Saturday
TikTok has announced the appointment of attorney Erich Andersen as the firm's Global General Counsel. Andersen, who will be reporting to TikTok head Alex Zhu, previously served as Corporate Vice President and Chief IP Counsel at Microsoft. Erich will be joining TikTok after having worked with Microsoft for over 20 years.
short by Aishwarya / 10:05 pm on 25 Jan
A lawsuit has been filed against US-based facial recognition startup Clearview AI, for "acting out of pure greed" and "threatening individuals' liberty". A report earlier found the startup scraped three billion images from people's public social media profiles and helped law enforcement identify people using the database. The lawsuit alleged it secretly collected the data without gaining consent.
short by Dharna / 09:24 am on 26 Jan
CAIT asks govt to probe 16 e-commerce portals over losses
short by Aishwarya / on 26 Jan 2020,Sunday
The Confederation of All India Traders (CAIT) asked Commerce Minister Piyush Goyal to probe 16 online businesses operating in India, including Amazon and Zomato, among others. CAIT asked the government to look into their alleged unhealthy business practices leading to huge losses. It further asked to probe their foreign funding, cash-burn practices and alleged avoidance of GST.
short by Aishwarya / 08:40 am on 26 Jan
Club Factory accused of selling drugs without prescription
short by Anushka Dixit / on 27 Jan 2020,Monday
Chinese e-commerce platform Club Factory has been accused of selling 'Schedule H drugs' without prescription in India. The FDA has written a letter to the Food & Drug Control Administration to investigate the matter. A Club Factory spokesperson has since said that selling such drugs are against the company's policies and any third-party sellers found listing such products are barred.
short by Anushka Dixit / 08:16 pm on 27 Jan
Indian-origin Samasource CEO Leila Janah passes away at 37
short by Aishwarya / on 25 Jan 2020,Saturday
Indian-origin Samasource Founder and CEO Leila Janah passed away on January 24, aged 37. The company, known for training data for AI, said Janah passed away due to complications from Epithelioid Sarcoma, a form of cancer. Janah also founded LXMI, a skin-care brand, and San Francisco-based Samaschool that focuses on preparing low-income populations to succeed as independent workers.
short by Aishwarya / 08:17 pm on 25 Jan
Bengaluru-based angel investment firm LetsVenture has rolled out an employee stock ownership plan (ESOP) management platform, MyStartupEquity. The tool will help startup founders and employees liquidate employee stock grants and track ESOPs in real-time for efficient ESOPs lifecycle. The tool, currently in the beta stage, is being used by 10 startups whose names have not been disclosed.
short by Anushka Dixit / 08:19 pm on 27 Jan
UK India Business Council (UKIBC) CEO Richard Heald said India should attract more investments in the e-commerce sector, adding it's "misunderstood to a certain extent". "Encouraging the sector is important because it benefits small businesses disproportionately to large businesses," he said. His remarks came after Piyush Goyal said Amazon wasn't doing any favour by investing $1 billion in India.
short by Anushka Dixit / 06:49 pm on 26 Jan
Tiger Global Management has closed a $3.8 billion global fund, Private Investment Partners (PIP) XII, which will back tech startups in India, US and China, reports said. Its previous fund, PIP XI, had exceeded its $3 billion target and raised $3.8 billion when it closed in 2018. Tiger Global had invested in Ola Electric, NoBroker, UrbanClap, among others in 2019.
short by Anushka Dixit / 02:50 pm on 27 Jan
Recounting instances of drivers falling asleep behind the wheel in Tesla cars, US Senator Edward Markey said the name 'Autopilot' was inherently misleading. Markey urged Tesla to rebrand Autopilot to make it clear from the beginning that the driver assistance system isn't fully autonomous and cannot replace drivers. Autopilot has been tied to at least three crashes and driver fatalities.
short by Dharna / 04:19 pm on 25 Jan
Uber CEO Dara Khosrowshahi told CNBC that Uber aims to be the number one or two player in the markets it operates in, rather than number three or four. He was referring to the sale of Uber Eats' Indian food delivery business to Zomato, which alongside Swiggy dominates the segment. "Point is consolidation happen...Growth has to consolidate," Khosrowshahi said.
short by Dharna / 02:47 pm on 25 Jan
Ever since Zomato and Swiggy increased prices for their loyalty programmes, they have witnessed a drop in volume of orders by 5-6% every month. "How the dynamics change post-Uber Eats deal will be clearer next month," an analyst told Economic Times. Zomato has raised prices of its Gold membership, while Swiggy has increased the rate of its loyalty programme, Super.
short by Anushka Dixit / 09:00 am on 28 Jan
Firing happened despite assurance: Walmart India staff to US HQ
short by Anushka Dixit / on 27 Jan 2020,Monday
After Walmart fired 56 senior executives at its Gurugram headquarters, they have approached the retail giant's headquarters in US, calling the firing unfair. Three ex-executives said the firing took place even after they were assured that there won't be any job cuts. Walmart HQ responded that an investigation will be carried out by a team from the US ethics department.
short by Anushka Dixit / 09:05 pm on 27 Jan
Mumbai B2B packaging marketplace Bizongo raises $30 million
short by Anushka Dixit / on 27 Jan 2020,Monday
Mumbai-based B2B packaging marketplace Bizongo has raised $30 million in Series C funding round led by Switzerland-based hedge fund Schroder Adveq. Existing investors including Facebook Co-founder Eduardo Saverin's VC firm B Capital and Accel Partners also participated in the round. Bizongo, which was valued at $96 million after Series B funding in 2018, has raised about $56 million till now.
short by Anushka Dixit / 09:17 pm on 27 Jan
Amazon starts testing food delivery service in India: Report
short by Dharna / on 25 Jan 2020,Saturday
Amazon has reportedly begun testing its food delivery service among employees before fully rolling it out in Bengaluru. Amazon is letting some employees order food via Amazon app as part of its Prime delivery service and has reportedly started partnering with restaurants and cloud kitchens. Last year, it shut down its four-year-old Amazon Restaurants food delivery service in the US.
short by Dharna / 11:50 am on 25 Jan
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