Friday, March 29

News

Nest CEO Tony Fadell Steps Down, to Remain Adviser to Google Co-founder Larry Page
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Nest CEO Tony Fadell Steps Down, to Remain Adviser to Google Co-founder Larry Page

Tony Fadell, a well-known Silicon Valley executive who was once expected to play a central role in Alphabet's hardware efforts, has stepped down as chief executive of the search giant's Nest unit, the company said. Fadell will remain an adviser to Alphabet and Google co-founder Larry Page. He will be replaced at Nest, which makes smart thermostats and smoke detectors, by Marwan Fawaz, who had prior stints at Motorola Mobility and Charter Communications. Google bought Nest in 2014 for $3.2 billion, one of the company's largest acquisitions ever. In a blog post announcing his departure, Fadell said Nest's revenue is growing 50% a year and boasted that "the connected home went mainstream because of Nest." "We've created a hardware + software + services ecosystem, which is still in...
Mumbai Based OrderZapp Goes Eco-Friendly; Starts Electric Bikes Delivery
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Mumbai Based OrderZapp Goes Eco-Friendly; Starts Electric Bikes Delivery

OrderZapp, a recently launched app which offers traditional snacks across Mumbai is taking multiple initiatives to support environmental causes and concerns. The company will initiate its delivering via electric bikes across Mumbai. The idea behind using electric bikes is not limited to support only the environment, but it also helps the start-up manage its operational costs. By taking this step, the company will provide vehicles to the delivery boys, who will now not have to use their own bikes. Along with this, OrderZapp also kick starts tree plantations drive in the drought struck areas of Maharashtra. The drive which begins from Sunday will go on across the months of monsoons. "We are very glad to implement these environment friendly initiatives in our organization. These ...
Jugnoo Launches Auto-Rickshaw Pooling Feature on Its Domain
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Jugnoo Launches Auto-Rickshaw Pooling Feature on Its Domain

India's leaidng Auto-rickshaw aggregator Jugnoo has announced the launch of its latest auto-rickshaw pooling feature, ' Jugnoo Pool' observing the World Environment Day. The feature gives the customers an option to share their trip with those traveling in the same direction. This is a humble initiative undertaken by the company, in a bid to counter the increasing carbon footprint and traffic situation in various parts of the country. The concept is not only environment friendly, but also comes across as a cost effective solution for customers, making the Jugnoo auto-rickshaw ride a little expensive but much more convenient than a public bus ride. In addition to this, the feature is lucrative for the auto drivers as well. Elaborating on the concept further, Founder and CEO Jugn...
Ola Launched New Mobile App ‘Ola Operator’ For Entrepreneurs
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Ola Launched New Mobile App ‘Ola Operator’ For Entrepreneurs

Ola, one of India's most popular mobile app for transportation, on Friday announced the launch of a first of its kind mobile technology solution with its new 'Ola Operator' app - built for entrepreneurs who have grown from one car to many on the Ola platform over the years, as well as operators who own cars, but employ drivers, to work on the platform. With this launch, Ola aims to add tens of thousands of new Operators onto its platform, including driver-partners who have turned entrepreneurs, operators in the business of transportation, as well as aspiring first-time entrepreneurs who would like to be part of the mobility ecosystem with minimal time commitment. This mobile app will help bring in immense efficiency to manage a single vehicle, to a large fleet, that an operator may o...
Times Group Will Invest 500 Crores in Flipkart
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Times Group Will Invest 500 Crores in Flipkart

Bennett, Coleman and Co. Ltd (BCCL) also known as Times Group would like to invest in Flipkart Ltd, India’s largest e-commerce firm. The amount is about Rs.500 crore for small equity. The deal is partly by cash and ads, as per mint report said. As per the report, Flipkart will issue shares to BCCL in return for cash and ads of its media properties such as The Times of India, The Economic Times newspapers and ET Now and Times Now channels for several years. Flipkart and Times Group has not confirmed yet. Theoretically, at Flipkart’s presumed $15 billion valuation, aRs.500 crore deal would translate into a 0.5% stake. If the Flipkart deal goes through, it will boost BCCL’s already strong connections with India’s booming start-up business. BCCL struck a similar deal with online...
Facebook Board Proposed Removing Mark Zuckerberg’s Majority Voting Control in Facebook
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Facebook Board Proposed Removing Mark Zuckerberg’s Majority Voting Control in Facebook

Facebook Inc's board has proposed removing Mark Zuckerberg's majority voting control in the event of the social media giant's chief executive and founder deciding to exit management at some point in future. In a proxy filing with the U.S. Securities and Exchange Commission, Facebook's board said it would ask shareholders to vote on a proposal that would convert Zuckerberg's Class B shares into Class A shares if he is no longer in a leadership position. The move was first proposed in late April in a regulatory filing. As of June 2, Zuckerberg beneficially owned about 4 million Class A shares and about 419 million Class B shares, collectively representing about 53.8 percent of total outstanding voting power and 14.8 percent of total outstanding economic interests. The proposed move,...
Snapchat Overtake Twitter in Number of Daily Users Mark
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Snapchat Overtake Twitter in Number of Daily Users Mark

Snapchat now has more daily users than Twitter, according to a report from Bloomberg.The four year-old messaging app, which is hugely popular with millennials, reportedly has 150 million daily active users compared to less than 140 million users for Twitter. According to Twitter’s most recent figures it has 310 million monthly active users, but it hasn’t made any official statement as to how many of those use the service on a daily basis. Twitter and Snapchat both declined to comment to the publication. Snapchat has made communication more fun with many users sending selfies to each other with added graphics and filters, plus short videos. It’s also responsible for the popular ‘face swap’ meme in which the faces of the two people (or animals) in a photo can be switched. Twitter...
News

Now ‘ConfirmTkt Alternates’ Will Help Waitlisted Passengers to Get Confirmed Tickets

India's train PNR predictor ConfirmTkt.com has launched a new product 'ConfirmTkt Alternates' to help the waitlisted train passengers to get confirmed tickets by unlocking all the hidden and other best available travel options. Available on Android as well as Apple iOS, the app takes into consideration the delay in the train arrivals and departures while suggesting alternates. "Sometimes no quota can get you confirmed tickets for a train journey. So we have built algorithms. We call it as ConfirmTkt Alternates. We all use these techniques to get to our destination, but we end up wasting a lot of time. Our new feature solves that problem," said Co-founder and COO of ConfirmTkt, Sripad Vaidya. "ConfirmTkt Alternates is a simple solution for the complex problem which eliminat...
Alibaba Group Will Purchase Its Own Share From SoftBank Group
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Alibaba Group Will Purchase Its Own Share From SoftBank Group

Alibaba Group Holding Limited (NYSE: BABA) today announced the terms of its previously announced purchase of Alibaba Group ordinary shares from SoftBank Group. Alibaba Group has agreed to purchase 27,027,027 Alibaba ordinary shares from SoftBank Group at US$74.00 per share for an aggregate of US$2 billion. Members of the Alibaba Partnership, acting collectively, have also agreed to purchase 5,405,405 Alibaba ordinary shares from SoftBank Group at the same price per share for an aggregate of US$400 million. Alibaba Group has agreed to purchase 27,027,027 Alibaba ordinary shares from SoftBank Group at US$74.00 per share for an aggregate of US$2 billion. Members of the Alibaba Partnership, acting collectively, have also agreed to purchase 5,405,405 Alibaba ordinary shares from SoftBank ...
Softbank Sold $8 Billion Shares of Alibaba To Repay The Debt
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Softbank Sold $8 Billion Shares of Alibaba To Repay The Debt

SoftBank Group said on Tuesday it would sell at least $7.9 billion of shares in Alibaba to cut the Japanese company's debt. It said it would remain Alibaba's largest shareholder after the sale. Singapore state funds bought $1 billion of shares in Chinese e-commerce company Alibaba Group Holding Ltd as part of an $8.9 billion sale by Japan's SoftBank Group Corp, Alibaba's biggest shareholder, the company said on Wednesday. Singapore sovereign wealth fund GIC Pte Ltd, and state investor Temasek Holdings each purchased $500 million of Alibaba shares at $74.00 apiece through subsidiaries, Alibaba said, offering details of the SoftBank sale announced on Tuesday. GIC and Temasek confirmed the transactions but declined to provide further comment. Temasek is an existing investor in Alibab...
Airtel Payments Bank appoints Shashi Arora as CEO and MD
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Airtel Payments Bank appoints Shashi Arora as CEO and MD

Airtel Payments Bank today announced the appointment of Shashi Arora as the CEO and Managing Director of the company. His appointment is subject to the approval of the Reserve Bank of India. He will replace Manish Khera, CEO, who resigned from his post to pursue his entrepreneurial journey. "I am delighted to announce the appointment of Shashi Arora as the CEO and MD designate of the bank. Shashi is a seasoned professional with over 26 years of experience across sectors including FMCG, Telecom, Media and Banking," Airtel Payments Bank Chairman Sunil Bharti Mittal said in a statement. On April 11, 2016, Airtel Payments Bank became the first entity in India to receive a payments bank license from the Reserve Bank of India (RBI). The company plans to start rolling out its banking netw...
IIM-A Offer e-learning To Deliver Management Education Through Distance Learning
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IIM-A Offer e-learning To Deliver Management Education Through Distance Learning

Indian Institute of Management, Ahmedabad (IIM-A) will launch e-learning programmes to deliver management education through distance learning. The institute will launch several programmes in the coming months in collaboration with NIIT Ltd and Hughes Education, companies that provide online learning services, the leading business school said in a statement here. The institute has signed agreements with both the companies to deliver management education content using electronic mode in the form of synchronous studio-to-classroom programmes. "Management education is going through dramatic changes, especially with regard to infusion of technology challenging the traditional content delivery model," it said. "IIM-A is set to launch several e-learning programmes over the next fe...