Saturday, September 23

Author: Nitish

Taboola Ready to Listed on NYSE After Merger with ION
Market

Taboola Ready to Listed on NYSE After Merger with ION

New York, NY – January 25, 2021 – Taboola, has entered into a definitive merger agreement with ION Acquisition Corp. 1 Ltd. (NYSE: IACA) under a special purpose acquisition company. The merger makes Taboola valuation approx $2.6 billion and Taboola expects to have $600 million of cash and cash equivalents on its balance sheet at closing. Prior to this merger Taboola raises $160 million and had approximately $240 million of cash and cash equivalents on its balance sheet. After the acquisition, Taboola name and will trade on the NYSE under the new symbol “TBLA”. The transaction is expected to close in Q2 of 2021. Founded in 2007 by Adam Singolda, Taboola enables digital property owners to harness the value of AI-driven recommendations and offers advertisers a way to effectively acc...
Are there Genuine Lottery Websites in India?
INDIA

Are there Genuine Lottery Websites in India?

Winning a jackpot is what everybody must have dreamt of at least once in their lifetimes. Every day, millions of lottery tickets are sold around the world, and each one who buys them dreams of hitting the jackpot. Some lotteries like the Mega Millions, Powerball, and El Gordo offer potentially huge jackpots, running into millions, and in some cases, billions of dollars. While lottery tickets were traditionally sold in brick and mortar stores, nowadays they are even available online. People can buy tickets for their favorite lotteries online, from the comfort of their homes. Online lottery India is a real thing, and now, Indians too can participate in international lotteries and have a shot at winning the jackpot, thanks to genuine websites like LottoLand, lotto.in and LottoSmile. ...
Razorpay Raises USD 100 mn in funding, Become Unicorn
FUNDING

Razorpay Raises USD 100 mn in funding, Become Unicorn

Bengaluru, Oct 13, 2020: Payments solution provider Razorpay has gained the ''unicorn'' status after aises USD 100 million funding from GIC, Sequoia Capital and existing investors. Witnessing a 300 per cent growth in its business during the past six months, Razorpay said it has raised a Series-D fundraising of USD 100 million, giving the company more than USD 1 billion in valuation. This round was co-led by Singapore's sovereign wealth fund GIC and Sequoia India, along with participation from Ribbit Capital, Tiger Global, Y Combinator, and Matrix Partners. Razorpay plans to use the new funding to further strengthen and accelerate two new product lines RazorpayX, a neo-banking platform; and Razorpay Capital, its lending arm and invest in new initiatives to empower small and medium...
7 Reasons to Avoid When Selling a Business
ANALYSIS

7 Reasons to Avoid When Selling a Business

TAMPA, Fla., Oct. 6, 2020-- Edison Avenue has had enough of witnessing entrepreneurs giving away their net worth to private equity groups, family offices, and other sophisticated investors.  The unspoken truth is that many former business owners don't talk about out of embarrassment that they fell into one of these costly traps.  Invisible Ink:  Frequently an LOI is not worth the paper it is written on. Often, far too many of the terms and conditions are left unaddressed or vague. Business owners often  think they understand the price and terms of the LOI to purchase their business. After the buyer's team of accountants, attorneys, and other professionals comb through the business every flaw will be uncovered and used to reduce the price. Th...
General Motors Acquire $2 billion equity stake in Nikola
ACQUISITION

General Motors Acquire $2 billion equity stake in Nikola

PHOENIX/DETROIT, Sept. 09, 2020 — Nikola Corporation (NASDAQ: NKLA) and General Motors Co. (NYSE: GM) announced a strategic partnership, where General Motors invest $2 billion to acquire 11 percent ownership of Nikola and the right to nominate one director. Nikola will also utilize General Motors’ Ultium battery system and Hydrotec fuel cell technology, representing a key commercialization milestone for General Motors. General Motors will be subject to a staged lock-up provision beginning in one year and ending in June 2025. General Motors will engineer, homologate, validate and manufacture the Nikola Badger battery electric and fuel cell versions. “Nikola is one of the most innovative companies in the world. General Motors is one of the top engineering and manufacturing companie...
PUBG Corporation Cuts Ties With Tencent After India ban
News

PUBG Corporation Cuts Ties With Tencent After India ban

New Delhi, 8th Sept 2020: After a recent move by the Indian government to ban 118 Chinese apps including the popular mobile game PUBG forced Korean company PUBG Corporation to cut ties with Chinese company Tencent for India's operation. In its press release, PUBG Corporation said, "it has made the decision to no longer authorize the PUBG MOBILE franchise to Tencent Games in India. Moving forward, PUBG Corporation will take on all publishing responsibilities within the country. As the company explores ways to provide its own PUBG experience for India in the near future, it is committed to doing so by sustaining a localized and healthy gameplay environment for its fans.We are actively monitoring the situation around the recent bans of PUBG MOBILE and PUBG MOBILE Lite in India and fully u...
TikTok CEO resigns within 90 days
News

TikTok CEO resigns within 90 days

HongKong, Aug 27th, 2020: TikTok CEO Kevin Mayer resigned amid US pressure for its Chinese owner to sell the popular video app, which the White House says is a security risk. In a letter to employees, Mayer said that his decision to leave comes after the "political environment has sharply changed". His resignation follows President Donald Trump's order to ban TikTok unless its parent company, ByteDance, sells its US operations to an American company within 90 days. "I have done significant reflection on what the corporate structural changes will require, and what it means for the global role I signed up for," he said in the letter. "Against this backdrop, and as we expect to reach a resolution very soon, it is with a heavy heart that I wanted to let you all know that I have decid...
Bolt Bikes Raises $11 Million, Rebrand to Zoomo
FUNDING

Bolt Bikes Raises $11 Million, Rebrand to Zoomo

NEW YORK, 24th Aug 2020-- Bolt Bikes, the mobility startup raises USD $11 million to invest in expanding its operations in the United States and move into new categories globally. Along with the capital raise, the Australia-based startup is also announcing a rebrand with a new name, Zoomo, and a new logo. The Australian Clean Energy Finance Corporation (CEFC) led the capital raise with a USD $5 million equity investment. Equity investment from Hana Ventures and existing investors Maniv Mobility and Contrarian Ventures, together with venture debt from OneVentures and Viola Credit, completed the capital raise. Zoomo will use the capital to launch a flagship brick-and-mortar operation in Los Angeles and expand its New York footprint to include services across the entire city. The s...
E-commerce Firm Flipkart Invests $35 Million in Arvind Fashion
FUNDING

E-commerce Firm Flipkart Invests $35 Million in Arvind Fashion

Walmart owned Flipkart Group said that it has invested $35 million (₹260 crores) to acquire a significant minority stake in Arvind Youth Brands, a subsidiary of Arvind Fashions Ltd (AFL). Walmart owned Flipkart group has subsidiaries including Flipkart, Myntra, and PhonePe ranging from eCommerce to digital payment space. Arvind Youth Brands which owns the clothing brand Flying Machine have a 40-year legacy and the group started selling its merchandise on Flipkart and Myntra for more than six years. Through this investment, Flipkart Group and Arvind Fashions will work collaboratively to identify opportunities and synergies to innovate and develop products with strong value propositions at attractive price points, the companies said in a joint statement. Kalyan Krishnamurthy, th...
Indian government ban 59 Chinese Apps, Tiktok replied
INDIA

Indian government ban 59 Chinese Apps, Tiktok replied

New Delhi, 30th June 2020: India government banned 59 Chinese apps including hugely popular TikTok, Shareit, etc. stating that they were prejudicial to sovereignty, integrity, and security of the country. Amid current stand-off along with the Line of Actual Control (LAC) with China, the move by the Indian government sends a clear message to the world about India's stand over Chinese incursion. The Information Technology Ministry in a statement said it has received many complaints from various sources, including several reports about misuse of some mobile apps available on Android and iOS platforms for "stealing and surreptitiously transmitting users' data in an unauthorised manner to servers which have locations outside India". "The compilation of these data, its mining and prof...
Apple acquires Fleetsmith to improve Mac, iPad, and iPhone performance
ACQUISITION

Apple acquires Fleetsmith to improve Mac, iPad, and iPhone performance

iPhone maker Apple has acquired San Francisco-based Fleetsmith to improve business's Mac and iPad devices. Fleetsmith automates device setup, intelligence, patching, and security, for your company's Macs, iPhones, iPads, and Apple TVs. The acquisition by Apple into the mobile device management industry, a category of business software dominated by players such as Microsoft Corp and VMware Inc. Fleetsmith announced the acquisition deal in a blog post. The deal size has not been disclosed. "Our mission from day one was to balance the needs of IT with the experience users love about Macs, iPhones, and iPads. We’re beyond thrilled to continue that work at Apple." Fleetsmith said.  Founded in 2016 by Jesse Endahl, Ken Kouot, Stevie Hryciw, Zack Blum, Fleetsmith raises over $40 ...
Chinese smartphone companies change marketing strategy after Galwan Valley Clash
INDIA

Chinese smartphone companies change marketing strategy after Galwan Valley Clash

Kolkata, June 18, 2020: Chinese handset makers change their Indian marketing strategy after the Indian & Chinese army clash in Galwan valley. Chinese smartphone makers who command around 70 percent of the market share in India are projecting themselves as Indian brands and selling made-in- India products to ward off any possible backlash on their sales. While on the other side, South Korean brand Samsung, which is a major competitor, stands to gain if Indian consumers switch their choice on nationalistic grounds. There have been protests by the Indian people in various parts of the country after the face-off at Galwan valley in eastern Ladakh in which Indian Army personnel was killed by the PLA of China on June 15. The strategy is likely to be replicated by many handset m...