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Bezos' stepfather went to US from Cuba at 16 with 3 shirts, 3 pants
short by Gaurav Shroff / on 18 May 2019,Saturday
World's richest person Jeff Bezos has revealed his stepfather Miguel Bezos came to Miami from Cuba alone aged 16 with three shirts, three pants and three underwear. "Mike's parents were not allowed to enter the airport...He only spoke Spanish...His grit, determination, and optimism are inspiring," said Jeff as Mike was honoured at the opening of Statue of Liberty's new museum.
short by Gaurav Shroff / 03:30 pm on 18 May
All my passwords had references to Tendulkar: InMobi Co-founder
short by Arundhati Rawat / on 16 May 2019,Thursday
Naveen Tewari, the Co-founder of India's first billion-dollar startup InMobi has said, "I connect cricket a lot to the journey of an entrepreneur." "Think of the rhythm of a bowler bowling and a batsman batting. Entrepreneurship is that rhythm," the Harvard Business School graduate said. Tewari also said at one point all of his passwords had references to Sachin Tendulkar.
short by Arundhati Rawat / 08:00 am on 16 May
Grofers raises $200mn led by SoftBank, nears $1bn valuation
short by Kanishka Pandey / on 15 May 2019,Wednesday
Gurugram-based online grocery startup Grofers has closed an over $200 million (over ₹1,400 crore) Series F funding round led by SoftBank Vision Fund (SVF) at a valuation of almost $1 billion, Bloomberg revealed. Investors including Tiger Global, Sequoia Capital and KTB also participated in the round. Grofers was founded in 2013 by Albinder Dhindsa and Saurabh Kumar.
short by Kanishka Pandey / 04:35 pm on 15 May
Bezos rides front loader to drop dirt for $1.5B Amazon delivery hub
short by Kanishka Pandey / on 15 May 2019,Wednesday
World's richest person, Amazon CEO Jeff Bezos took to Twitter to announce an investment of $1.5 billion in a three million square feet air hub in Kentucky, US for faster deliveries. "It's going to create 2,000 jobs," he said. He shared a video of the groundbreaking ceremony, adding, "If you're guessing that driving a front loader was fun, you're right."
short by Kanishka Pandey / 07:25 pm on 15 May
Walmart Q1 income falls 38% over $16 bn Flipkart integration
short by Gaurav Shroff / on 17 May 2019,Friday
Declaring 2019's first quarter earnings, Walmart said its international operating income dipped 38% in constant currency "largely due to dilution from Flipkart". "The decline was expected, partially offset by deconsolidation of Brazil," Walmart added. Walmart bought 77% stake in Flipkart for $16 billion last May and had lowered its profit forecast for the fiscal ending January 2019.
short by Gaurav Shroff / 03:50 pm on 17 May
Amazon, Flipkart reduce discounts on most products over FDI norms
short by Gaurav Shroff / on 16 May 2019,Thursday
E-commerce platforms have reduced discounts on most products and are not selling them below cost price to comply with FDI policy. Puma India MD said discounts were down by 11-14% in January-March but the company's sale still increased by 16% on Flipkart and 21% on Amazon. Traders' body CAIT had termed the discounts "predatory pricing", alleging it upsets market dynamics.
short by Gaurav Shroff / 03:20 pm on 16 May
Rannvijay's brand Disrupt raises funds, valued at ₹17.5 crore
short by Kanishka Pandey / on 15 May 2019,Wednesday
TV host Rannvijay Singh Singha's retail brand Disrupt has raised an undisclosed amount in a pre-Series A funding round at a valuation of over ₹17.5 crore. The investment saw participation from Fynd Co-founders Harsh Shah and Farooq Adam and former CEO of FCB Ulka Ambi Parameswaran, among others. Singha ventured into the fashion business with 'Disrupt-Defy Ordinary' in 2018.
short by Kanishka Pandey / 02:51 pm on 15 May
2 teams jointly win $10 million in Elon Musk-backed XPRIZE
short by Arundhati Rawat / on 17 May 2019,Friday
Two teams have jointly won $10-million prize of Global Learning XPRIZE, which counts Elon Musk among supporters and benefactors. Kitkit School, from the US and South Korea and Onebillion from the UK and Kenya, both developed tablet apps to aid student learning. Bengaluru's Chimple was among five finalists in 2017, which received $1 million and tested their technology in Tanzania.
short by Arundhati Rawat / 02:57 pm on 17 May
Myntra-Jabong hires former YouTube exec as marketing head
short by Kanishka Pandey / on 15 May 2019,Wednesday
E-commerce major Flipkart-owned fashion e-tailer Myntra-Jabong has appointed former YouTube executive Harish Narayanan as head of marketing. Narayanan will be taking over from Mithun Sundar, who currently heads revenue and marketing, and will report directly to Myntra-Jabong head Amar Nagaram. The IIM Lucknow alumnus headed B2B marketing for YouTube Asia-Pacific for over 2.5 years.
short by Kanishka Pandey / 02:43 pm on 15 May
Flipkart in talks with Nokia, Motorola to make TVs: Report
short by Arundhati Rawat / on 16 May 2019,Thursday
Flipkart is in talks with international original equipment manufacturers to make electronics for sale on its platform, as per reports. It's reportedly in advanced-stage talks with Nokia and Motorola, which plan to introduce TV models in India by next year. Flipkart also aims to collaborate with Sansui to launch smaller home appliances such as juicers, grinders and other kitchen appliances.
short by Arundhati Rawat / 01:43 am on 16 May
Former Apple retail chief & Burberry CEO joins Airbnb board
short by Kanishka Pandey / on 17 May 2019,Friday
US-based home-renting platform Airbnb has appointed Angela Ahrendts, former Senior Vice President of Retail at Apple, as its third independent non-affiliated board member. Ahrendts joined Apple in 2014 after serving as CEO of the British fashion house Burberry for eight years. Notably, Ahrendts had been one of the highest-paid employees at Apple with total compensation of $26.5 million in 2018.
short by Kanishka Pandey / 05:19 pm on 17 May
Ola invested $60 million in 15 months for international operations
short by Kanishka Pandey / on 15 May 2019,Wednesday
Bengaluru-based Ola invested about $60 million in its international business over the last 15 months, as per Ola Singapore's regulatory filings. The invested amount reportedly only reflects costs of local operations, marketing and incentives as its technology, people and call centres are present in India. Ola Singapore controls Australia, New Zealand, Sri Lanka, Bangladesh and US operations.
short by Kanishka Pandey / 03:14 pm on 15 May
Starbucks China rival Luckin Coffee raises $561 mn in US IPO
short by Kanishka Pandey / on 17 May 2019,Friday
China-based coffee chain Luckin Coffee has raised about $561 million after setting its US IPO price at $17 apiece, gaining a valuation of nearly $4 billion. It added it may raise up to around $650 million if underwriters purchase additional 'greenshoe' shares after the listing. Luckin previously said it aims to displace Starbucks as China's largest coffee chain this year.
short by Kanishka Pandey / 03:32 pm on 17 May
WeWork owner launches $2.9B real estate acquisition platform
short by Arundhati Rawat / on 16 May 2019,Thursday
US-based co-working space startup WeWork's parent The We Company has launched ARK, its global real estate acquisition and management platform. ARK will initially deploy $2.9 billion in total equity capital, with reportedly $1 billion from Ivanhoé Cambridge, a unit of Canada-based investor, CDPQ. Founded in 2010, The We Company also operates WeLive and WeGrow.
short by Arundhati Rawat / 08:00 am on 16 May
Bengaluru healthcare startup Docttocare raises ₹4 crore
short by Arundhati Rawat / on 15 May 2019,Wednesday
Bengaluru-based online healthcare service provider Docttocare has raised about ₹4 crore in seed funding from Krishnakumar Devnally, Founder and Director at mPower Solutions. Founded in 2016, the startup provides doctors, clinics, hospitals along with brief information and virtual walkthroughs to users. Its CEO Sugandha Agarwal previously worked at Oracle and Infosys.
short by Arundhati Rawat / 05:01 pm on 15 May
RIL to disrupt e-comm, Paytm Mall's model unsustainable: Forrester
short by Kanishka Pandey / on 17 May 2019,Friday
E-commerce platforms like Paytm Mall, Snapdeal and ShopClues will face difficulty in raising funds to subsidise discounts, market research firm Forrester claimed. It said Paytm Mall's business model is no longer sustainable, adding it will find it difficult to survive in the long term even if it raises funds now. Reliance Industries' entry will disrupt Indian e-commerce, it further said.
short by Kanishka Pandey / 09:52 pm on 17 May
I don't invest in companies but founders: Innov8 Co-founder
short by Kanishka Pandey / on 15 May 2019,Wednesday
Angel investor and New Delhi-based co-working space startup Innov8 Co-founder Ritesh Malik, on being asked what qualities he looks for before investing in startups, said, "I don't invest in companies but founders." "I truly believe what can change the Indian startup ecosystem is founders investing in founders," he said, adding this was the primary reason for Silicon Valley to bloom.
short by Kanishka Pandey / 06:12 pm on 15 May
Engineer interview platform Karat gets $28 mn led by Tiger Global
short by Kanishka Pandey / on 16 May 2019,Thursday
US-based interview platform Karat has raised $28 million in a Series B funding round led by Tiger Global Management. Existing investors Norwest Venture Partners and 8VC also participated in the round. Founded in 2014 by Mohit Bhende and Jeffrey Spector, Karat offers help to firms by conducting human-powered technical rounds of engineering job interviews online for them.
short by Kanishka Pandey / 10:14 am on 16 May
Ratan Tata-backed UrbanClap's revenue rises 150% in FY19
short by Arundhati Rawat / on 16 May 2019,Thursday
Gurugram-based home services startup UrbanClap has reported a 150% increase in operating revenue at ₹116 crore in 2018-19 as compared to ₹46 crore in previous financial year. However, operating loss rose to ₹72 crore in 2018-19 from ₹57 crore. Founded in 2014 by Abhiraj Bhal, Raghav Chandra, and Varun Khaitan, UrbanClap is backed by Accel Partners, Ratan Tata, among others.
short by Arundhati Rawat / 03:32 pm on 16 May
IITians' doctor consultation platform DocsApp gets ₹12 crore
short by Kanishka Pandey / on 15 May 2019,Wednesday
Bengaluru-based online doctor consultation platform DocsApp has raised around ₹12 crore in a debt round of funding led by VC firm InnoVen Capital. DocsApp, owned by Phasorz Technologies, was launched in 2015 by IIT Madras alumni Satish Kannan and Enbasekar Dinadayalane. It had raised over $7 million in a Series A funding led by Bessemer Venture Partners in 2017.
short by Kanishka Pandey / 07:46 pm on 15 May
Musk's Boring Company to get its 1st tunnel contract in Las Vegas
short by Kanishka Pandey / on 18 May 2019,Saturday
Billionaire Elon Musk-led tunnel-digging startup The Boring Company (TBC) is set to receive its contract to build a high-speed underground transit system in Las Vegas for $44 million. However, the city withholds over two-thirds of payments until construction is complete and specifies heavy penalties if it fails to accommodate enough passengers. TBC has built one 1.8-km-long test tunnel to date.
short by Kanishka Pandey / 07:52 pm on 18 May
Delivery startup DoorDash raising $500M at $13B valuation: Report
short by Kanishka Pandey / on 18 May 2019,Saturday
US-based food delivery startup DoorDash is raising at least $500 million in a new funding round that could likely value it at around $13 billion, Bloomberg reported. It last raised $400 million in a Series F funding round at a valuation of over $7 billion in February. Founded in 2013, DoorDash is backed by investors including SoftBank, Sequoia and Temasek.
short by Kanishka Pandey / 04:00 pm on 18 May
Amazon leads $575 mn investment in UK food delivery startup
short by Kanishka Pandey / on 17 May 2019,Friday
US e-commerce giant Amazon has led a $575 million investment in UK-based food delivery startup Deliveroo. Existing investors including T Rowe Price, Fidelity Management and Greenoaks also participated in the Series G funding round. Founded in 2013, Deliveroo was last valued at over $2 billion in its last funding round in 2017 and has raised over $1.5 billion till date.
short by Kanishka Pandey / 03:20 pm on 17 May
NASA gives SpaceX, Blue Origin, others $45M for Moon lander tests
short by Kanishka Pandey / on 18 May 2019,Saturday
NASA has selected 11 American entities, including billionaire rivals Elon Musk and Jeff Bezos' aerospace startups SpaceX and Blue Origin, to conduct studies and produce prototypes of human landers. The entities will share total amount of over $45 million for NASA's Artemis lunar exploration program. This effort will help put American astronauts on Moon's south pole by 2024, NASA said.
short by Kanishka Pandey / 05:44 pm on 18 May
IIT Delhi graduate-led agritech startup DeHaat to get ₹20 cr
short by Arundhati Rawat / on 15 May 2019,Wednesday
Agritech startup DeHaat, led by IIT Delhi graduate Shashank Kumar, has received a commitment of ₹20 crore in venture debt from Trifecta Capital. Earlier in March, the startup had raised around ₹30 crore from Omnivore and America's AgFunder, among others. Founded in 2012, DeHaat offers end-to-end agricultural services to farmers such as giving access to high-quality agri inputs, among others.
short by Arundhati Rawat / 09:56 pm on 15 May
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