Friday, April 26

Author: Aditya

Goodyear acquire US Tyre Brand Cooper for $2.5 billion
22Feb By AdityaNo Comments
ACQUISITION

Goodyear acquire US Tyre Brand Cooper for $2.5 billion

AKRON, Ohio and FINDLAY, Ohio, Feb. 22, 2021: Goodyear will acquire Cooper in a transaction with a total enterprise value of approximately $2.5 billion. The transaction will expand Goodyear's product offering by combining two portfolios of complementary brands. It will also create a stronger U.S.-based manufacturer with increased presence in distribution and retail channels while combining both companies' strengths in the highly profitable light truck and SUV product segments. The combined company will have approximately $17.5 billion in 2019 sales. Under the terms of the transaction, Goodyear shareholders will own approximately 84% of the combined company, and Cooper shareholders will own approximately 16%. Founded in 1914, Cooper is the 5th-largest tire manufacturer in Nor...
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China bans BBC from broadcasting
19Feb By AdityaNo Comments
CHINA

China bans BBC from broadcasting

Beijing, Feb 19, 2021: Chinese Communist Government has banned BBC World News from broadcasting in China amid violation of its guidelines, Chinese television and radio regulator announced. The move comes a week after the UK revoked the license of the Chinese state-owned broadcaster China Global Television Network (CGTN). China has criticised the BBC for its reporting on the deadly coronavirus pandemic and the persecution of ethnic minority Uighurs and lodged a protest with the British broadcaster. The BBC said it was "disappointed" by China’s decision to ban it. The Chinese regulator, National Radio and Television Administration (NRTA) has made the announcement on Thursday night on pulling BBC World News off the air in the country for serious content violation. NRTA said BB...
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Top 5 Payment Providers For Online Gambling Industry
17Feb By AdityaNo Comments
Tech

Top 5 Payment Providers For Online Gambling Industry

In the online gambling industry, players now have more options than ever before when it comes to payment providers. While initially, the main and in fact, only method was via a debit card and bank transfer, there have been sophisticated strides forward in technology which has enabled the development of more payment methods. It has meant that players have more of a choice to suit their preferences depending on whatever is the most convenient at a particular time. Below, you will find the top five payment providers that you can find at most casino sites and what is involved. You also do not have to necessarily just stick to one, as long as you register the ones that appeal to you. Paybyphone One of the newest payment methods that most online casinos have made available to...
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China ban Clubhouse app, used for political discussion
11Feb By AdityaNo Comments
CHINA

China ban Clubhouse app, used for political discussion

BEIJING (AP), 11th Feb 2021— Zeng Jiajun, a former tech worker, fell in love with social media app Clubhouse, a window through the ruling Communist Party’s pervasive censorship, after listening to a freewheeling discussion between members of China’s Uighur minority and Han majority that wound up lasting 12 hours. Thousands of Chinese flocked to the app, which allowed unfettered discussion with people abroad about democracy, Taiwan and other sensitive topics at a time when President Xi Jinping’s government is increasingly hostile to independent voices. “This kind of communication is rare,” Zeng said. “Hearing someone’s voice can make both sides realize we’re all human.” On Monday, that window slammed shut when Chinese users lost access to Clubhouse, adding it to thousands of websi...
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Kong Raises $100 Million from Tiger Global & others
10Feb By AdityaNo Comments
FUNDING

Kong Raises $100 Million from Tiger Global & others

SAN FRANCISCO, Feb 10, 2021-- Cloud connectivity platform Kong raises $100 million in Series D funding, led by Tiger Global Management with participation from existing investors Index Ventures, CRV, GGV Capital and Andreessen Horowitz as well as new investor Goldman Sachs. The latest round brings Kong’s total funding to $171 million, tripling its valuation to $1.4 billion since the Series C round. Kong will use the capital to scale its go-to-market operations, grow world-class Engineering and Customer Experience teams, and accelerate cloud connectivity with its new SaaS-based Kong Konnect service connectivity platform. The fundraising follows a record year for Kong, marked by a significant increase in adoption of its flagship open-source software Kong Gateway now exceeding 220 ...
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How Does the Casino Industry in India Compare to Other Places on the Planet?
8Feb By AdityaNo Comments
INDIA

How Does the Casino Industry in India Compare to Other Places on the Planet?

Gambling is becoming one of the fastest growing industries on the planet. It seems that every year more countries are climbing on board in legalizing the activity. This has resulted either out of a desire to curb illegal activity or to provide additional sources of revenue for the government. In some instances, it is a mixture of both. India has slowly warmed to the idea of gambling. While not legal across the entire country, there are regions within the nation where it is legal to gamble, either at a land-based facility or online. But how does that compare to other countries across the world? Online Growing Rapidly Like most countries who offer licenses for online casinos, India is seeing a rapid increase in the number of players signing up and playing at these sites. The ac...
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Payment Firm Payoneer will Go For IPO After $3.3 Billion Merger
4Feb By AdityaNo Comments
ACQUISITION

Payment Firm Payoneer will Go For IPO After $3.3 Billion Merger

NEW YORK, February 4, 2021– Global payment firm Payoneer merge with FTAC Olympus Acquisition Corp. (NASDAQ: FTOCU), a special purpose acquisition company at an estimated enterprise value of approximately $3.3 billion. After this deal, Payoneer will be renamed as a Payoneer Global Inc. and will operate as Payoneer, the U.S. publicly listed entity. The company will carry up to $563 million in cash. Payoneer’s management team will continue to lead the Company.  The global online payment transfer firm raises investments from TCV, Susquehanna Growth Equity (SGE), Viola Ventures, Wellington Management, Nyca Partners, Temasek and more. Payoneer processed more than $44 billion in volume in over 7,000 trade corridors in 2020.
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Travel App Ixigo acquires Confirmtkt
4Feb By AdityaNo Comments
ACQUISITION

Travel App Ixigo acquires Confirmtkt

Travel app ixigo acquire 100 percent shares of Bengaluru-based online train discovery and booking platform Confirmtkt in an undisclosed cash and stock deal. The founders of ixigo will join the Confirmtkt board and existing investors of Confirmtkt, including Venture Catalysts, will be exiting the company fully as a part of the deal, ixigo said in a statement on Thursday. Both companies will continue to run independently, post this acquisition. Ixigo and Confirmtkt are official IRCTC B2C premium ticketing partners for online train reservations in India. "This deal will help the group to consolidate its presence in Tier 2/3/4 markets with its combined user base of nearly 200 million Indians", the statement said. Aloke Bajpai and Rajnish Kumar, Co-Founders, ixigo, said, "The combi...
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AI startup Databricks Raises $1 billion from Microsoft, Google & Amazon
2Feb By AdityaNo Comments
FUNDING

AI startup Databricks Raises $1 billion from Microsoft, Google & Amazon

San Francisco, Feb 2, 2021: AI startup Databricks raises $1 billion in funding in Series G round from Microsoft, Google and Amazon Web Services. Using this round of funding the startup value soar at a $28 billion valuation. Databricks is an analytics-based cloud computing platform that has 5,000 customers,  including 40 percent of Fortune 500 companies. "We see this investment and our continued rapid growth as further validation of our vision for a simple, open and unified data platform that can support all data-driven use cases, from BI (business intelligence) to AI," said Ali Ghodsi, Databricks chief executive and co-founder. "Databricks helps organizations eliminate the cost and complexity that is inherent in legacy data architectures so that data teams can collaborate and...
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Robinhood raises more than $1 billion from existing investors
1Feb By AdityaNo Comments
FUNDING

Robinhood raises more than $1 billion from existing investors

(Reuters) 02/01/21- Online broker Robinhood has raised more than $1 billion of fresh capital from existing investors, having been strained by high volumes of trading this week and raising the ire of customers, celebrities and politicians for curbing the purchase of some hot stocks. Robinhood's existing investors include venture capital firms Sequoia Capital and Ribbit Capital, who came together on Thursday night to offer the emergency funding, according to a New York Times report. Reuters could not immediately verify if Sequoia and Ribbit helped with the emergency infusion. "We're pleased to share that we've raised over $1 billion from existing investors to continue to invest in record growth. This is a strong sign of confidence from investors that will help us continue to furthe...
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Back Office Startup Pilot Raises $60M in Series C Funding
26Jan By AdityaNo Comments
FUNDING

Back Office Startup Pilot Raises $60M in Series C Funding

SAN FRANCISCO, 26th Jan 2020-- Pilot, the largest provider of back-office services for startups and small businesses in the US raises $60 million in Series C funding led by Sequoia Capital, doubling its total funding to $120 million including investments from Index Ventures and Stripe. The additional raise enables Pilot to expand its breadth of back office services that remove distractions and help companies focus on success in a challenging business environment. Back office operations like bookkeeping can be painful, expensive, and time-consuming, especially for small businesses,” said Pat Grady, partner at Sequoia. “Pilot combines intelligent software with a concierge approach to deliver a painless and even delightful back office experience. Pilot is doing for the back office wha...
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