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Facebook Introduced its Cryptocurrency “Libra”, Target 1.7 Billion People

18Jun By AdityaNo Comments

News

Facebook Introduced its Cryptocurrency “Libra”, Target 1.7 Billion People

Facebook entered into the world of cryptocurrency with its own digital money "Libra" designed to let people save, send or spend money as easily as firing off text messages. Facebook and some two dozen partners from US and Uk released a prototype of Libra as an open source code to be used by developers interested in weaving it into apps, services or businesses ahead of a rollout as global digital money next year. A Geneva-based nonprofit association will monitor the Libra, maintaining a real-world asset reserve to keep its value stable. The initiative has the potential to allow more than 1.7 billion "unbanked" people around the world access to online commerce and financial services, said Libra Association head of policy and communications Dante Disparte."We believe if you give peo...

18Jun By AdityaNo Comments

FUNDING

Rent a Bike Platform Bounce raises $72 million Series C funding

Bounce, a smart mobility solution provider has raised USD 72 million as a part of its series C round of funding led by B capital Group and New York-based hedge fund Falcon Edge Capital. The funding round also saw participation from Accel Partners India, Accel Partners USA, Chiratae Ventures, Maverick Ventures, Omidyar Network India, Sequoia Capital India, and Qualcomm Ventures. The funding will help accelerate Bounce expansion across various Indian cities. Bounce has deployed a fleet of over 5,000 keyless scooters in the city and the app allows the users to pick up a scooter and drop it at any legitimate parking spot. We appreciate the ongoing support of our investors, who have continuously believed in the growth trajectory of Bounce. Also, our journey so far wouldn't have be...

France based Saas Startup Payfit Raises $79 million

17Jun By AdityaNo Comments

FUNDING

France based Saas Startup Payfit Raises $79 million

French startup Payfit raises $79 million funding from Eurazeo and Bpifrance. The funding will use to double its workforce by 2020. Founded in 2016 by Firmin Zocchetto (CEO), Ghislain de Fontenay (CTO) and Florian Fournier (CPO), PayFit raises $5.6 million from Xavier Niel and The Family in 2016 and $15.7 million from Accel in 2017. After today's round, the total funds will be more than $100 million. PayFit a software-as-a-service-based platform automates everything from RTI submissions and employee payslips to leaves and expenses. The company allows small and medium enterprises to easily and quickly pay their employees. The company now provides full-fledged HR solutions to 3000 clients based in multiple European countries. Hire around 300 people, Payfit developed it...

Huawei cut output by $30 billion in 2019-20

17Jun By AdityaNo Comments

CHINA

Huawei cut output by $30 billion in 2019-20

Huawei founder indicates that trouble maker company would slash its production over the next two years as it grapples with a US push to isolate the company internationally. "In the coming two years, the company will cut production by $30 billion," Ren Zhengfei, founder of Huawei said to Pixr8 News. Huawei earned just over $100 billion in revenue in 2018. But Ren, who compared Huawei to damaged aircraft, added that he expected the company to get back on its previous trajectory by 2021. "In 2021, we will regain our vitality and (continue to) provide services to human society," he said. Huawei has emerged as a key bone of contention in the wider China-US trade war that has seen tit-for-tat tariffs imposed on hundreds of billions of dollars worth of goods. ...

Hexaware acquires Mobiquity for $182 million

14Jun By AdityaNo Comments

ACQUISITION

Hexaware acquires Mobiquity for $182 million

IT firm Hexaware has acquired US-based Mobiquity Inc for a total consideration of about USD 182 million (approximately Rs 1,266 crore). Mobiquity creates digital products for brands like Amazon Web Services, Rabobank, Philips, Wawa, Backbase and Otsuka. Mobiquity group revenue was USD 70 million for the year ended December 31, 2018. "This is the largest ever investment by Hexaware and the combined entity aims to directly compete with large digital agencies and consulting firms," Hexaware said in a statement. R Srikrishna, CEO of Hexaware Technologies, said, with this acquisition, Hexaware enters an exciting new phase of growth and capability. "Mobiquity strengthens two of our key strategic offerings, Cloudify Everything, and Customer Experience Transformation. We are seeing st...

CerraCap Ventures secures Strategic investment from IIFL Wealth

13Jun By AdityaNo Comments

FUNDING

CerraCap Ventures secures Strategic investment from IIFL Wealth

CerraCap Ventures, a leading early-stage technology venture capital firm, announced a strategic investment of an undisclosed amount from a unit of IIFL Wealth Management Limited (IIFL Wealth), in CerraCap Ventures Fund II. Headquartered in Orange County, CA, CerraCap Ventures focuses on areas of Cyber Security, AI and Digital Health. Leveraging a unique "Sales and Scale" business model, CerraCap goes beyond providing just capital to early stage companies. They help startups sell into large enterprises through an ecosystem of decision makers and an influential advisory board consisting of global leaders. IIFL Wealth is one of the leading private wealth management firms in India with an AUM of around USD 24 billion. General Atlantic, a leading global growth equity firm, is among the l...

11Jun By AdityaNo Comments

INDIA

Indian man detects WhatsApp bug, Enters ‘Facebook Hall of Fame 2019’

Facebook honoured an Indian man for discovering a WhatsApp bug that violated the privacy of a user. Manipur based Zonel Sougaijam, a 22-year-old civil engineer, said that the social media giant awarded $5000 to him and also included him in the 'Facebook Hall of Fame 2019', for detecting the WhatsApp bug. Sougaijam's name is currently at the 16th position in a list of 94 people, in the 'Facebook Hall of Fame' for this year. "During a voice call through WhatsApp, the bug used to allow the caller to upgrade it to a video call without the authorisation and knowledge of the receiver. The caller was then able to see what the other person was doing, violating the privacy of the receiver," Sougaijam told Pixr8. After discovering the bug, Sougaijam said, he had reported the matter to t...

Google top in Lobbying, Spent USD 21.7 Million

10Jun By AdityaNo Comments

USA

Google top in Lobbying, Spent USD 21.7 Million

Google has spent USD 21.7 million on lobbying last year to influence lawmakers, becoming the leading corporate spender among the tech companies facing increasing scrutiny from US regulators over privacy practices and market control, according to a media report. Lobbying spending by tech companies has been on a steady rise in recent years and is way up over the past decade, according to the report on CNBC. The report cited data from the Center for Responsive Politics, which is a non-profit, nonpartisan research group that tracks the effects of money and lobbying on elections and public policy. As the biggest US technology companies face increasing scrutiny from regulators related to privacy practices and market control, they are spending a lot more money to try and influence lawma...

Wipro acquires global digital engineering and manufacturing group ITI

10Jun By AdityaNo Comments

ACQUISITION

Wipro acquires global digital engineering and manufacturing group ITI

Milford, Cincinnati, United States: Wipro a leading Indian information technology, consulting and business process services company announced that it has acquired International TechneGroup Incorporated (ITI), a global digital engineering and manufacturing solutions company. ITI is a world leader in Computer Aided Design (CAD) and Product Lifecycle Management (PLM) interoperability software services. Through its key solutions for Model Based Enterprise (MBE), data interoperability and data migration, ITI provides the building blocks for Industry 4.0, to help build ‘next generation’ digital enterprises. Founded in 1983, ITI group provides software products and services to some of the world’s leading manufacturers across aerospace, automotive, healthcare, and other segments. ITI has lo...

US Consumer borrowing up $17.5 billion in April

8Jun By AdityaNo Comments

USA

US Consumer borrowing up $17.5 billion in April

Consumer borrowing accelerated in April to the fastest pace in five months as a rebound in credit card use offset slower demand for auto and student loans. Borrowing increased by USD 17.5 billion, the Federal Reserve said. That is up from March's USD 11 billion advances and marks the biggest jump since a USD21.7 billion increase last November. Aa per the data by CreditNinja Financing, Borrowing on credit cards increased by USD 7 billion after having fallen by USD 2 billion in March. Borrowing for auto and student loans slowed to an increase of USD10.5 billion, down from USD13 billion in March. It is the smallest advance since last June. Consumer credit is a key indicator of the willingness of households to increase borrowing to support consumer ...

3Jun By AdityaNo Comments

FUNDING

Pristyn Care raises $4M Series A funding

Pristyn Care, a Bengaluru based healthcare delivery startup raises $4 million in Series A round led by Sequoia India. The company will use this funding to invest in technology and expand its team of medical professionals. Started in late 2018 by Harsimarbir Singh, Dr Vaibhav Kapoor, and Dr Garima Sawhney, Pristyn Care specialises in offering patients affordable advanced surgical care through surgical techniques and recovery measures. It offers patients a range of elective surgeries across proctology, gynaecology, urology and ENT (ear, nose, and throat). "There is a significant need to improve day care procedures in India. Our vision is to transform the future of healthcare by using improved medical techniques, personalised patient care and support that caters to the special...

1Jun By AdityaNo Comments

Tech

Top In Demand Tech Freelance Jobs

The Economic Times reports that freelancing is displacing payroll employment globally. In fact, in the United States, self-employed workers are expected to increase to 60 million by 2020. In the UK, freelancers have increased from 3.3 million in 2001 to 4.8 million in 2017. India has also joined the gig economy and is the second largest employer of freelancers in the world. These numbers aren't surprising, as more and more industries are transitioning from the traditional workplace to a digital one. With the gig economy increasing year-on-year, companies are taking advantage of the increase in tech skills available for short-term employment. Yoss claims that companies are able to hire freelancers from the top 1% of tech talent, which demonstrates how expansive the market has becom...