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New Jersey based Crypto firm BlockFi files for bankruptcy

29Nov By NitishNo Comments

News

New Jersey based Crypto firm BlockFi files for bankruptcy

NJ, USA, 29th Nov, 2022: New Jersey-based crypto lending platform filed for Chapter 11 bankruptcy protection, the latest down crypto firm after collapse of crypto exchange FTX. BlockFi had been struggling for much of this year but was given a lifeline this summer in the form of an FTX line of credit. FTX's own bankruptcy, however sealed BlockFi's financial future. BlockFi suspended withdrawals after FTX's failure, and it had hired bankruptcy specialists in recent days. FTX's financial rescue package was no longer available to BlockFi once it ran into its own financial trouble, and BlockFi said any attempts to get additional funds in the days before the bankruptcy were not honored. BlockFi was one of several crypto currency lenders to pop up in recent years. The company gave loans...

Byju’s clears $950 million payment to Aakash

4Jul By NitishNo Comments

BUSINESS

Byju’s clears $950 million payment to Aakash

Edtech firm Byju's said on Monday that it has completed payment that was due for the acquisition of Aakash Educational Service and received majority of $800 million fund which it announced in March. The company is estimated to have acquired Aakash Educational Services Limited for around $950 million. "Our fundraising efforts are on track and the majority of the 800 million has been already received. The balance is also expected soon. Our payments to Aakash are closed and the audited financial results are going to be announced in the next 10 days," Byju's said in a statement. Byju's founder and CEO Byju Raveendran has made a personal investment of $400 million (over Rs 3,000 crore) of the total $800 million (about Rs 6,000 crore) raised in the latest funding round by the company....

Cryptocurrency & NFTs are Fake: Bill Gates

15Jun By NitishNo Comments

Entrepreneurs Talk

Cryptocurrency & NFTs are Fake: Bill Gates

NYC, 15th June 2022: The tech billionaire & founder of tech company Microsoft Bill Gates, criticised cryptocurrencies and NFTs. He termed cryptocurrency & Non-Fungible Tokens (NFT) as fake, saying that it is based only on the Greater fool theory. Gates was speaking at an event on climate change hosted by TechCrunch. Bill Gates joked that the world is going to improve a lot with expensive photos of monkeys. These are of no use. One can neither invest in the long term or short term. He also pointed out that bitcoin has a lot of risk for retail investors and that mining the coin also harms the environment. The Microsoft co-founder said he preferred investing in tangible assets or “a company where they make products.” He also mentioned that he does not hold any crypto assets....

Google to Acquire Mandiant for $5.4 billion

15Mar By NitishNo Comments

ACQUISITION

Google to Acquire Mandiant for $5.4 billion

RESTON, Va., March 15th, 2022 – Mandiant, Inc. (NASDAQ: MNDT) today announced that it has entered into a definitive agreement to be acquired by Google LLC for $23.00 per share in an all-cash transaction valued at approximately $5.4 billion, inclusive of Mandiant’s net cash. The offer price represents a 57% premium to the undisturbed 10-day trailing volume weighted average price as of February 7, 2022, the last full trading day prior to published market speculation regarding a potential sale of the Company. Upon the close of the acquisition, Mandiant will join Google Cloud. For the past 18 years, Mandiant has delivered unparalleled frontline expertise and industry-leading threat intelligence. Mandiant’s more than 600 consultants currently respond to thousands of security breaches each y...

25Jan By NitishNo Comments

ACQUISITION

WeWork Announces Acquisition of Common Desk

NEW YORK, Jan25th,2021-- WeWork Inc. (NYSE: WE) and Common Desk announced that the companies have signed a definitive agreement under which WeWork will acquire Common Desk, a premier flexible workspace provider based in Dallas, Texas. The transaction is WeWork’s latest step in executing on a path towards cost-efficient, strategic growth. Founded in 2012, Common Desk has expanded its network to serve 4,000 customers at a total of 23 locations across 13 cities in Texas and North Carolina. Over the past decade, Common Desk has achieved disciplined growth through strategic management agreements with landlords that have enabled the company to perform at strong margins by minimizing capital expenditures. Within Common Desk's existing portfolio, 19 of 23 locations are operated under managemen...

How game developers work can keep older games fresh

6Jan By NitishNo Comments

Tech

How game developers work can keep older games fresh

There's something about playing certain older video games that keep players coming back for more. Even though the graphics may not be as advanced as newer games, developers often keep things fresh by adding new content and features to keep players interested. When it comes to video games, there are a few classics that always seem to remain popular no matter how many new releases hit the market. Games like Mario Bros., Donkey Kong, and Sonic the Hedgehog continue to be favorites for gamers. This is no different from online casino games offered at Casino Cowboy; games such as blackjack, poker, roulette, and more have always fascinated players in land-based and online casinos. Why old video games remain popular Additional content New games are released every year with imp...

Can PR Drive Generate Leads for Startups?

17Nov By NitishNo Comments

Story

Can PR Drive Generate Leads for Startups?

With changes to Google advertising policy and Facebook and Instagram shifts, public relations, or PR, could be the new key to lead generation. Because of the way sponsored content gets throttled by the algorithms, your potential clients are more likely to engage with your PR pieces, before they get served your sponsored content. Does this mean that PR can actually generate leads? This is a controversial approach in many organizations, especially service-based industries like tech; why spend time on PR and earned media when you can engage your audience directly with targeted ads? People don’t engage with PR around tech startups, right? Many businesses are making this mistake, assuming that they don’t need to focus on a PR strategy. But, could PR be the new secret to leads? In our experi...

First Successful Flight of Volocopters VoloDrone

12Oct By NitishNo Comments

Automobile

First Successful Flight of Volocopters VoloDrone

HAMBURG, Germany, Oct. 12, 2021-- Volocopter's electric heavy-lift drone VoloDrone conducted its first public flight today at ITS World Congress 2021. Together with the international logistics leader DB Schenker, Volocopter, the pioneer of urban air mobility (UAM), demonstrated VoloDrone's seamless integration into the logistics supply chain with an end-to-end cargo transport demonstration. The partners showed their significant progress together since DB Schenker became a strategic investor of Volocopter in early 2020. The 3-minute test flight took off at 3:02 p.m and reached a maximum altitude of 22 meters. For this delivery simulation, the electric heavy-lift utility drone was equipped with a load-box in between its landing gear. First, the demonstration teams secured a Euro-pal...

PayU acquire Indian Payment Giant BillDesk for $4.7 billion

1Sep By NitishNo Comments

ACQUISITION

PayU acquire Indian Payment Giant BillDesk for $4.7 billion

Mumbai, 1st Oct 2021: In one of the biggest deals in the Indian consumer internet space, global player Prosus NV on Tuesday said its fintech business PayU will buy digital payments provider BillDesk for USD 4.7 billion With the deal, the Netherlands-incorporated Prosus NV's investment in India will jump to more than USD 10 billion. The PayU-BillDesk transaction, which is subject to approval from the Competition Commission of India (CCI), is expected to close by early 2022, Prosus Group CEO Bob van Dijk told reporters during a briefing. "The combination will create a leading digital payments company in India and globally, and it is exceptionally well-positioned to expand deeper into the Indian fintech ecosystem as more and more Indian customers move from cash to digital transactions...

26Aug By NitishNo Comments

News

Apple launched News Partner Program to support Journalism

CUPERTINO, Calif., 26th Aug 2021-- Apple introduced the News Partner Program to expand Apple’s work with and support for journalism. The News Partner Program aims to ensure Apple News customers maintain access to trusted news and information from many of the world’s top publishers. The News Partner Program is designed for subscription news publications that provide their content to Apple News in Apple News Format (ANF). ANF enables an exceptional reading experience on Apple News and unlocks the full benefit of the platform for publishers, and empowers publishers to create brand-forward stories, immersive issues, and audio stories, with designs that scale seamlessly across Apple devices. ANF also supports advertising, and publishers keep 100 percent of the revenue from advertising they ...

21Jul By NitishNo Comments

ACQUISITION

Byju’s acquires Epic for $500 mn

California, Jul 21, 2021: Edtech platform Byju's has acquired US-based digital reading platform Epic for USD 500 million (around Rs 3,729.8 crore). After the acquisition, Byju's will also invest an additional USD 1 billion (about Rs 7,459.7 crore) in the North American market. In a statement, Byju's said it has acquired Epic, a digital reading platform for kids aged 12 years and under, in a USD 500 million deal. The acquisition will help Byju's expand its footprint in the US by providing access to the more than two million teachers and 50 million kids in Epic's existing global user base, which has more than doubled over the last year, it added. Epic CEO Suren Markosian and co-founder Kevin Donahue will remain in their roles, the statement noted. Epic has a collection of ove...

Paytm to file DRHP for $2.3 billion IPO on July 12

5Jul By NitishNo Comments

Market

Paytm to file DRHP for $2.3 billion IPO on July 12

New Delhi, 5th July 2021: India's leading payment service provider which accounts for around 60% of online payment transactions Paytm will file a draft prospectus as early as July 12 for a domestic initial public offering (IPO) that seeks to raise $2.3 billion, as per the reports by Reuters. The money will be raised via the sale of Paytm stocks in the Indian stock market at an expected valuation of $24 billion to $25 billion with an option to raise more amount at a later stage. One97 Communications Ltd, the parent of Indian payments firm proposed a $2.3 billion IPO, that will make it India's third-biggest public listing after Coal India in 2010 and Reliance Power in 2008. The prospectus will be filed shortly after Paytm's extraordinary general meeting (EGM) of shareholders in Del...