Snap Inc Co-founder Evan Spiegel hit headlines over the last few weeks for his derogatory remarks on India. Now, there’s more to come from him. According to a latest report, the Snapchat CEO claimed that Facebook has been copying some of Snapchat's intricate features like “stories tool.” He further opined that people might not have…
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SoftBank reports $1.4 billion loss from India investments
SoftBank Group Corp, a Japanese investor has reported a loss of around $1.4 billion investment made into Snapdeal and cab aggregator Ola. Snapdeal run by Jasper Infotech Private Limited and Ola run by ANI Technologies are two major investments of Snapdeal.
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GVFL, Unicorn invests into Sequretek
GVFL, Gujarat Venture Finance Limited and Unicorn India Ventures have made an investment of an undisclosed amount in Sequretek, a cybersecurity startup, a company dealing with financial institutions. This is GVFL’s first funding announcement through its GVFL Startup Fund, the firm’s eighth fund with a target corpus of Rs 250 crore. After a fund-raising of…
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Garena rebrands as Sea; raises fund of $550 million
Garena, southeast Asia’s most valuable startup has been rebranded as Sea Limited after securing funding worth $550 million to take on e-commerce giants of the likes of Alibaba and other players in Indonesia. The eight-year old startup backed by Tencent Holdings bagged some new investors in its latest funding round such as GDP Ventures, led…
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Are Indian e-commerce firms re-inventing the wheel?
In a bid to curb higher marketing costs and cater to diverse customer needs in a highly competitive market, Indian e-commerce players, in a reverse trend, are now expanding their platforms to brick-and-mortar outlets, according to The Economic Times report by IANS. "The crux of the online business is low operating costs. This is fundamentally…
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After downsizing, Snapdeal doles out payouts to employees
After almost two months of a massive lay-off initiative, Snapdeal is understood to be doling out payouts to the affected employees, according to ‘The Economic Times’ report. The company is now on course to meet the timeline it had set out for the payouts. While Snapdeal has declined to specify the exact number of employees…
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