For the best experience use inshorts app on your smartphone
$1 invested in Amazon in 1997 is now worth over $1,233
short by Pragya Swastik / on 19 Jul 2018,Thursday
A share of Jeff Bezos-led Amazon, priced at $18 (₹666) bought during its IPO in 1997, is now worth over $22,200 (₹15.3 lakh), according to Reuters. This translates to $1 (₹37 in 1997) invested in Amazon during its IPO is now worth over $1,233 (₹85,000). After Apple, Amazon on Wednesday became the only second company to hit $900-billion market valuation.
short by Pragya Swastik / 06:33 pm on 19 Jul
SpaceX launches world's heaviest communications satellite
short by Pragya Swastik / on 22 Jul 2018,Sunday
Elon Musk-led space startup SpaceX on Sunday launched the Telstar 19 Vantage satellite, the world's heaviest commercial communications satellite weighing over 7,000 kg, through its Falcon 9 rocket. Its upgraded first stage booster flew itself back and landed on an off-shore droneship. This was the second successful launch of the new version of SpaceX's Block 5 rocket.
short by Pragya Swastik / 02:37 pm on 22 Jul
21-yr-old Indian origin develops platform to fight fake news
short by Pragya Swastik / on 22 Jul 2018,Sunday
Lyric Jain, a 21-year-old Indian-origin entrepreneur originally from Mysore, has founded startup Logically in the UK and developed a machine-learning algorithm to combat fake news. The platform collects news stories from over 70,000 domains and determines the credibility of the claims in the articles. With specific plans for India, the startup is set to launch in the country in October.
short by Pragya Swastik / 07:15 pm on 22 Jul
Blue Origin close to putting humans in space: Jeff Bezos
short by Shifa Naseer / on 19 Jul 2018,Thursday
Talking to his team ahead of test launch on Wednesday, aerospace startup Blue Origin's Founder Jeff Bezos said, "This flight is getting us closer to putting humans in space", adding that the flight is important "from that point of view". Blue Origin successfully launched its space capsule breaking its own record of highest-ever test flight at nearly 120 km.
short by Shifa Naseer / 04:13 pm on 19 Jul
The Viral Fever raises $6 million from Tiger Global
short by Pragya Swastik / on 20 Jul 2018,Friday
Online video platform The Viral Fever (TVF) has reportedly raised an additional $6 million (around ₹41 crore) funding from existing investor Tiger Global. TVF raised the fresh capital at an estimated post-money valuation of around $40 million. Earlier in February 2016, TVF raised $10 million from Tiger Global at a valuation of $61 million.
short by Pragya Swastik / 05:06 pm on 20 Jul
Temasek buys $30 mn Ola shares from early, former employees
short by Pragya Swastik / on 20 Jul 2018,Friday
Singapore-based Temasek Holdings reportedly bought shares worth at least $30 million from Ola's early and former employees as part of a secondary share sale. Temasek bought the shares at a valuation of between $2.5-3 billion and the share sale was completed around May-end. Employee stock ownership plan (ESOP) was launched by Ola Co-founders Bhavish Aggarwal and Ankit Bhati in 2011.
short by Pragya Swastik / 03:38 pm on 20 Jul
Standard Chartered Private Equity to acquire stake in TBO Group
short by Sumedha Sehra / on 19 Jul 2018,Thursday
Standard Chartered Bank's equity arm Standard Chartered Private Equity (SCPE) has agreed to acquire Naspers' stake in Indian travel major Travel Boutique Online (TBO). Founded by Ankush Nijhawan and Gaurav Bhatnagar in 2006, TBO provides travel services to 45,000 travel agents and tour operators, with operations in over 90 countries, and has a turnover of over $1 billion.
short by Sumedha Sehra / 12:24 pm on 19 Jul
Bezos wears his lucky cowboy boots during Blue Origin launch
short by Gaurav Shroff / on 19 Jul 2018,Thursday
After Blue Origin broke its own test flight record, founder Jeff Bezos took to Twitter to reveal that his "lucky boots worked again". Bezos had earlier revealed his cowboy boots bear the aerospace startup's motto 'Gradatim Ferociter', which is Latin for "Step by Step, Ferociously". The Amazon founder liquidates $1 billion worth of stock a year to fund Blue Origin.
short by Gaurav Shroff / 11:54 am on 19 Jul
Mumbai man's tweets on Uber ride that started without him go viral
short by Pragya Swastik / on 22 Jul 2018,Sunday
A Mumbai man's sarcastic tweets on an Uber driver who started a trip without picking him up has gone viral. The man kept tracking the Uber driver named just 'P' and tweeted his whereabouts like, "P has stopped at Vailankani church. I hope he's going to confess his sins." He was charged ₹857.43 for the trip which Uber later refunded.
short by Pragya Swastik / 05:46 pm on 22 Jul
Bike taxi startup Baxi raises funds, partners with Patanjali
short by Gaurav Shroff / on 20 Jul 2018,Friday
Gurugram-based Baxi has raised an undisclosed amount of funding from existing and new investors, Co-founder Ashutosh Johri said, adding the bike taxi startup is now operationally profitable. Baxi also partnered with Ramdev-led Patanjali, where customers can order home deliveries from nearby stores using the Baxi app. Patanjali staff can use the delivery bikes to earn extra income, Johri added.
short by Gaurav Shroff / 01:17 pm on 20 Jul
Japan is 'stupid' to not allow ride-sharing: SoftBank CEO
short by Gaurav Shroff / on 19 Jul 2018,Thursday
SoftBank's CEO Masayoshi Son slammed Japan for prohibiting ride-sharing services calling the country "stupid". "A country that gives up on the future has no future," Son added, alleging that Japan was behind US and China in AI. Responding to it, a government official cited passenger safety concerns saying, "it's unclear who is in charge of maintenance and operation in ride-sharing."
short by Gaurav Shroff / 05:59 pm on 19 Jul
Musk called environmental group to make $6mn donation public
short by Gaurav Shroff / on 19 Jul 2018,Thursday
After facing criticism for a $40,000 donation which would benefit the Republicans, Elon Musk personally dialled up a Sierra Club executive to make over $6 million of his anonymous contributions to the environmental group public, according to Bloomberg. "We will continue fighting the climate deniers in the Republican Party. But Elon's innovation on climate cannot be denied," the executive tweeted.
short by Gaurav Shroff / 01:01 pm on 19 Jul
1,400% rise in complaints against e-comm platforms in 4 yrs
short by Krishna Veera Vanamali / on 22 Jul 2018,Sunday
The number of complaints against e-commerce platforms has gone up by 1,400% over the last four years, according to government data. The complaints have risen from just 5,204 in 2013-14 to 78,000 in 2017-18. Most of the complaints are related to the delivery of fake products, damaged or substandard items, and delay in refund of money.
short by Krishna Veera Vanamali / 07:24 pm on 22 Jul
FSSAI orders Swiggy, Zomato to de-list unregistered eateries
short by Pragya Swastik / on 21 Jul 2018,Saturday
In the wake of complaints regarding sub-standard food, the Food Safety and Standards Authority of India (FSSAI) has asked 10 food apps including Swiggy, Zomato and Foodpanda to de-list non-licensed eateries from their platforms. FSSAI has asked the apps to submit an action-taken report by the month's end. FSSAI had operationalised guidelines for e-Commerce Food Business Operators in February.
short by Pragya Swastik / 02:56 pm on 21 Jul
Genelia, Riteish invest in health-tech startup WelcomeCure
short by Pragya Swastik / on 20 Jul 2018,Friday
Bollywood couple Genelia and Riteish Deshmukh have invested an undisclosed amount in Mumbai-based online homoeopathic healthcare startup WelcomeCure. Former TCS executive LC Singh also invested in the startup. Founded in 2014, the startup, which provides homoeopathic treatment and consultation through its online platform, plans to raise an additional $5 million.
short by Pragya Swastik / 06:23 pm on 20 Jul
TV actress Sumona slams UrbanClap over its waxing service
short by Pragya Swastik / on 20 Jul 2018,Friday
Television actress Sumona Chakravarti, known for her role as comedian Kapil Sharma's on-screen wife, has slammed services startup UrbanClap after using its waxing service. "UrbanClap never again...their pathetic service has bruised and left marks on my skin," she wrote on Instagram. "Instead of getting tanned on a beach, I sat n kept putting aloe gel all day," she further wrote.
short by Pragya Swastik / 07:25 pm on 20 Jul
Volvo parent's startup to launch electric flying car in 2019
short by Shifa Naseer / on 19 Jul 2018,Thursday
Volvo parent Geely-owned startup Terrafugia has announced that the first production models of its hybrid-electric flying car Transition will go on sale sometime in 2019. The Transition is expected to travel at a speed of around 160 kmph in airplane form with a range of around 643 km. The craft will fly to a maximum altitude of 3 km.
short by Shifa Naseer / 06:32 pm on 19 Jul
IITians' startup MedLabz offers AI-based diagnostic services
short by Shifa Naseer / on 19 Jul 2018,Thursday
Mumbai-based healthcare startup Medlabz, founded by six alumni from IIT Bombay and IIT Delhi, offers diagnostic services using its AI-based symptom-to-disease search engine. The startup collects test samples from patients' homes and the report is delivered on its app or via WhatsApp. Based on the results, a patient is then referred to a doctor for a consultation over the phone.
short by Shifa Naseer / 03:33 pm on 19 Jul
Another marijuana company goes public in US, raises $153 mn
short by Gaurav Shroff / on 21 Jul 2018,Saturday
Canada-based medical marijuana company Tilray has raised $153 million (over ₹1,050 crore) in its Initial Public Offering (IPO) at US' stock market Nasdaq. Founded in 2013, Tilray sells its products to patients, researchers, pharmacies and even governments. Earlier this year, Canadian firms Cronos Group and Canopy Growth became first marijuana producers to be listed on Nasdaq and NYSE respectively.
short by Gaurav Shroff / 11:29 am on 21 Jul
Uber driver livestreams riders without consent in US
short by Shifa Naseer / on 22 Jul 2018,Sunday
Jason Gargac, an Uber driver in Missouri, US, live-streamed hundreds of riders without their consent on video platform Twitch, according to a report. Gargac recorded the interior of his car during the rides with a camera, allowing his followers to see and comment on the faces of his passengers. Uber has suspended the driver claiming violation of its rules.
short by Shifa Naseer / 03:25 pm on 22 Jul
Mumbai fintech startup PaySense gets $18mn from PayU, others
short by Shifa Naseer / on 22 Jul 2018,Sunday
Mumbai-based fintech startup PaySense has raised $18 million in its Series B round of funding led by Naspers-backed payments provider PayU. While PayU put in $11.5 million, the rest was invested by existing investors including Jungle Ventures and Nexus Venture Partners. Founded in 2015, PaySense offers individuals like working professionals, credit options ranging from ₹5,000 to ₹2 lakh.
short by Shifa Naseer / 06:58 pm on 22 Jul
Musk saying things which are a stretch bothers me: Investor
short by Shifa Naseer / on 20 Jul 2018,Friday
Accusing Elon Musk of over-promising on Tesla's capabilities, American investor Jim Chanos said, "What bothers me... is (Musk's) willingness to say things that I think he knows are a stretch." He also said, "I don't think you get to tell people you're going to make 20,000 Model 3s a week when you know that's not going to be the case."
short by Shifa Naseer / 11:00 am on 20 Jul
US firm acquires Pune-based software company Indus for $29mn
short by Gaurav Shroff / on 21 Jul 2018,Saturday
After making at least 10 acquisitions in India over the past two years including ItzCash Card and Centrum Capital, Nasdaq-listed software firm Ebix Inc on Friday announced the acquisition of Pune-headquartered Indus Software Technologies for $29 million (around ₹200 crore). Ebix said Indus will be integrated into its digital payments offering EbixCash, with 900 employees joining its workforce.
short by Gaurav Shroff / 12:30 pm on 21 Jul
eBay paid $573 million to buy Japanese e-comm platform Qoo10
short by Shifa Naseer / on 22 Jul 2018,Sunday
US-based e-commerce major eBay paid $573 million in May to buy Japanese e-commerce platform Qoo10, according to filings. The deal consisted of $306 million in cash and $266 million worth shares in Giosis, the Singapore-based parent of Qoo10. Launched in 2010, Qoo10 was created as a hyperlocal marketplace that allows large and small merchants to sell their products across Asia.
short by Shifa Naseer / 03:49 pm on 22 Jul
Flipkart approaches Grofers for acquisition: Report
short by Shifa Naseer / on 19 Jul 2018,Thursday
Homegrown e-commerce startup Flipkart has approached grocery delivery startup Grofers for an acquisition to build on its grocery services, according to reports. Grofers' investors, Tiger Global and SoftBank, are also in favour of the deal, reports added. Earlier, Flipkart Co-founder Binny Bansal said that it would consider investing in the companies that will prove to be strategic to its business.
short by Shifa Naseer / 08:39 pm on 19 Jul
Load More
For the best experience use inshorts app on your smartphone