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Home Services Marketplace Urban Company raises $255 mn

7Jun By AdityaNo Comments

FUNDING

Home Services Marketplace Urban Company raises $255 mn

Bengaluru, 7th June 2021: Home services marketplace Urban Company raises USD 255 million in funding led by Prosus Ventures, Dragoneer, and Wellington Management. The series F round which also saw participation from Vy Capital, Tiger Global, and Steadview takes Urban Company’s valuation to USD 2.1 billion. The latest round includes a primary capital infusion of USD 188 million and a secondary sale of approximately USD 67 million by select angels and early investors, Urban Company CEO and co-founder Abhiraj Singh Bhal told Pixr8 News. He added that Urban Company has raised about USD 330 million in primary capital to date. Bhal said the funds will be used towards innovation, training, product development, enhanced quality control and safety measures for both partners and consumers. The...

17May By AdityaNo Comments

FUNDING

Lenskart raises $95 million from KKR

NEW DELHI, 17th April 2020-- Lenskart, a leading omni-channel eyewear retailer in India raises $95 million from global investment firm KKR via a secondary stake acquisition. As part of the transaction, existing investors TPG Growth and TR Capital, who first invested in Lenskart in late 2014, will each divest a portion of their holding in the Company. Established in 2010, the Company today is the largest service provider for eyewear in India, serving over 7 million customers annually through its omni-channel shopping experience, which spans online, mobile application, and 730 omni-channel stores in 175 cities across the country. In 2019, Lenskart also expanded to Singapore marking its foray into Southeast Asia where it is now a key service provider for optical. Peyush Bansal, CEO ...

7May By AdityaNo Comments

Tech

New Online Casino Technology offers Better Ways to Cash out Your Winnings

If we could write a list of the most frequently asked questions regarding online gambling, we would probably include at the top of the list, the same questions you would. For sure, issues like personal information security, legitimate and reputable sites and safe and fast withdrawal methods would be, without hesitation, the most common concerns every player has. But along with these well-known matters, we also find that gaming technology is as important as every other thing involved in this popular industry, which increases its interest and number of players all over the world also because of the arrival of new technologies and new ways of reaching the bets. Virtual casinos made the gambling experience much more accessible and nowadays we can also enjoy an amazi...

Yahoo, AOL to be acquired by Apollo Funds for $5 billion

4May By AdityaNo Comments

ACQUISITION

Yahoo, AOL to be acquired by Apollo Funds for $5 billion

NEW YORK May 4, 2021 - Verizon media will be acquired by affiliates of Apollo the “Apollo Funds” for $5 billion. Verizon Media is comprised of iconic brands such as Yahoo and AOL, as well as leading ad tech and media platform businesses. Verizon will retain a 10% stake in the company, which will be known as Yahoo at the close of the transaction and continue to be led by CEO Guru Gowrappan. The corporate carveout will allow Verizon Media to aggressively pursue growth areas and stands to benefit its employees, advertisers, publishing partners and nearly 900 million monthly active users worldwide. “We are excited to be joining forces with Apollo,” said Guru Gowrappan, CEO, Verizon Media. “The past two-quarters of double-digit growth have demonstrated our ability to transform our me...

24Apr By AdityaNo Comments

News

Facebook Testing ads on Instagram Reels

California, 04/24/2021: Zuckerberg led Facebook to start testing ads on Instagram Reels, a short video platform worldwide as it looks to help brands better engage with relevant audiences. In July last year, Instagram had unveiled its new format ''Reels'' that allows users to create and share short videos. Reels and other short video platforms have seen strong growth userbase and time spent after some countries having security issues with popular short video making platform TikTok. In a blogpost on Thursday, Facebook said people are discovering and watching video in diverse formats across its family of apps, each offering distinct viewer and ad experiences. "Today, we're announcing new topic targeting options within Facebook In-Stream video, testing of Instagram Reels Ads and o...

ShareChat raises $502 Mn from Snapchat, Twitter & others

8Apr By AdityaNo Comments

FUNDING

ShareChat raises $502 Mn from Snapchat, Twitter & others

Calif., SF, 04/08/2021: Short Video app ShareChat has raised USD 502 million in funding led by Lightspeed Venture Partners and Tiger Global, valuing the social media platform at over USD 2.1 billion. Snap Inc (which owns Snapchat) and existing investors Twitter and India Quotient, among others, also participated in the funding round in Mohalla Tech, the parent company of ShareChat and short video app, Moj. Founded in 2015, Mohalla Tech has raised over USD 766 million across six fundraising rounds. "We are at an exciting inflection point in our journey, where we are going after a massive opportunity with the right team in place and the backing of long-term investors who have a deep conviction in our mission. With ShareChat and Moj, we are well-positioned to build the largest AI-po...

Byju’s acquires Aakash Institute for $1 billion

5Apr By AdityaNo Comments

ACQUISITION

Byju’s acquires Aakash Institute for $1 billion

As reported earlier by Pixr8 News, Edtech platform Byju's acquires India's leading engineering preparation coaching Akash Institute in a $1 billion cash and stock deal. AESL Managing Director Aakash Chaudhry said, "the transaction with Byju's is 60-65 percent cash and the remaining 35 percent are Byju's equity deal. The overall deal value is close to about USD 1 billion. This will be the largest integration in the education space in India, especially in the startup space. COVID has really opened the gates to online education significantly and going forward, we believe that all kinds of models in education will exist in K-12, test prep, and even in higher education". Blackstone Group and Aakash Educational Services Ltd (AESL) founders will hold a minority stake in Byju's, which is v...

Sandbox Acquires Fingerprint to Form Sandbox Kids

30Mar By AdityaNo Comments

ACQUISITION

Sandbox Acquires Fingerprint to Form Sandbox Kids

SAN FRANCISCO & LONDON, 03/30/2021-- Fingerprint, a leading global provider of digital content for kids and families, has been acquired by Sandbox & Co., a strategic operator of millennial learning and entertainment companies, to form Sandbox Kids. Sandbox Kids will deliver on-demand, multimedia, multi-platform, digital subscription services for children and families around the world. Industry veteran Nancy MacIntyre will serve as CEO and will lead the newly created Sandbox Kids division, which will include existing Sandbox properties Hopster and Curious World alongside Fingerprint’s Kidomi. Nancy will drive the company’s mission to expand content that engages kids while also helping partners build, operate and market subscription services to reach families around the world...

The Huge Commercial Market Behind St. Patrick’s Day Celebrations

16Mar By AdityaNo Comments

BUSINESS

The Huge Commercial Market Behind St. Patrick’s Day Celebrations

California, SF, 03/16/2021: St. Patrick’s Day is an Irish cultural celebration that extends beyond the Irish shores. It is usually celebrated on the 17 of March every year as this is believed to be the date St. Patrick died in 461 AD. He is often celebrated as the person who introduced Christianity to the Irish people. Many people see this day as an opportunity to get back to their Irish roots and have a party. People commemorate this day in different parts of the world, including the UK, Canada, Argentina, Australia, Brazil and New Zealand. It is arguably the most celebrated festival in the world. As a result, it usually presents the perfect opportunity for all businesses globally. A Typical Modern-Day St. Patrick’s Day Event The present-day St. Patrick...

Estimated 931 mn tonnes of food wasted globally in 2019: UN Report

15Mar By AdityaNo Comments

ANALYSIS

Estimated 931 mn tonnes of food wasted globally in 2019: UN Report

An estimated 931 million tonnes of food were wasted globally in 2019, enough to circle the Earth seven times, according to a UN report. The Food Waste Index Report 2021, from the United Nations Environment Programme (UNEP) and partner organization WRAP, said that around 931 million tonnes of food waste were generated in 2019, sixty-one percent of which came from households, 26 percent from food service and 13 per cent from retail. “This suggests that 17 per cent of total global food production may be wasted,” it said. “The weight roughly equals that of 23 million fully-loaded 40-tonne trucks bumper-to-bumper, enough to circle the Earth seven times,” the UN agency said. The household food waste estimate in the US is 59 kg per capita per year, or 19,359,951 tonnes a year, in Ind...

Stripe Raises $600 Million, Becomes US Most Valuable Startup

15Mar By AdityaNo Comments

FUNDING

Stripe Raises $600 Million, Becomes US Most Valuable Startup

San Francisco, 03/15/2021: Digital payment company Stripe raises $600 million in funding at a valuation of $95 billion, The payment startup becomes US most valuable company surpasses Elon Musk's SpaceX. At the top TikTok owned ByteDance is the most valued digital company at around $180 billion in the world. Founded in 2010 by Patrick and John Collison, Stripe allows companies to accept online or in person card payments. Stripe has more than 50 companies each processing over $1 billion annually. Its list of customers includes Google, Uber and Amazon, and more recently shipping giant Maersk and Jaguar Land Rover. San Francisco and Dublin-headquartered company said it would use the capital to invest in its European operations and expand its global network. At $95 billion, Stripe ...

Iron Mountain acquire majority stakes in Web Werks for USD 150 mn

26Feb By AdityaNo Comments

ACQUISITION

Iron Mountain acquire majority stakes in Web Werks for USD 150 mn

Boston, Feb 27th, 2020: NYSE-listed data centre provider Iron Mountain acquire a majority stake in Web Werks for USD 150 million. The acquisition will accelerate Web Werks expansion across the country and build capacity to cater to one of the fastest-growing data centre markets globally. The transaction is expected to close within the next 90 days, subject to customary closing conditions, the statement said. Founded by Nikhil and Nishant Rathi, Web Werks operates three tier-3, carrier-neutral data centres in Mumbai, Pune and Delhi-NCR with a combined capability of 2,25,000 sq ft. It houses six worldwide points of presence, has 4-megawatt power capacity and supports over 6,000 servers of 850 clients. The forthcoming investment will enable it to expand operations in its three ex...