Nitish | Pixr8 News

17Apr By NitishNo Comments

FUNDING

NoBroker raises $30 Million in funding led by General Atlantic

Mumbai, Apr 17th, 2020: Bengaluru-based startup NoBroker raises $30 Million (about Rs 230 crore) in funding led by private equity player General Atlantic. With this funding round, NoBroker so far raises USD 151 million. "This USD 30 million investment is an addition to the Series D funding, wherein the company raised USD 50 million or over Rs 615 crore in October last year taking it to USD 80 million. The initial round of Series D funding was led by Tiger Global, and General Atlantic had also participated in it," the company said in a statement. The company plans to utilise the funds for expanding to new cities and also go deeper in the existing cities and service more customers. "We are focused on building India''s largest one-stop platform for all real estate needs. This fun...

Zoom rolls out New Measures as Security fears Mount

17Apr By NitishNo Comments

News

Zoom rolls out New Measures as Security fears Mount

Videoconferencing platform Zoom is rolling out a number of measures meant to stem criticism over how it has handled security as users flock to the application during the coronavirus pandemic. Zoom chief executive Eric Yuan laid out steps Wednesday that the company is taking against problems such as data hacking and harassment by individuals who crash sessions in what is referred to as "Zoombombing." By week's end, paid account holders will be able to select which regions their data is routed through during their sessions in a move apparently aimed at concerns over the information passing through China where it might be subject to snooping. "As a reminder, meeting servers in China have always been geofenced with the goal of ensuring that meeting data of users outside of China sta...

NYC could lose 475,000 jobs, $9.7 bn in tax revenue

15Apr By NitishNo Comments

USA

NYC could lose 475,000 jobs, $9.7 bn in tax revenue

New York City could lose 475,000 jobs over the 12 months, the worst it has faced since the early 1970s, and experience a shortfall of USD 9.7 billion in tax revenue due to the COVID-19 pandemic, a report by New York City Independent Budget Office (IBO) said. In a fiscal brief issued Wednesday, the budget office said the COVID-19 pandemic and the public health restrictions imposed to help limit the spread of infections have delivered a severe blow to the economy, leading to very large and abrupt job losses that are unprecedented in their scope and pace. Given the staggering job losses, IBO said it assumes that the US economy has entered a recession even though official statistics have not yet captured the scenario. In a pared-down economic forecast, IBO projected that that the loc...

SoftBank Group Forecasts USD 7bn Net Loss in 2019 Financial Year

14Apr By NitishNo Comments

News

SoftBank Group Forecasts USD 7bn Net Loss in 2019 Financial Year

Japanese conglomerate SoftBank Group forecast a USD 7-billion net loss for the year ended March due to the negative impact of coronavirus and losses related to WeWork. The group led by Masayoshi Son said in a press release, "It also expected to suffer an operating loss of 1.35 trillion yen or USD 12.5 billion." The firm cited a 1.8 trillion yen loss at its SoftBank Vision Fund, blaming "the deteriorating market environment" in the wake of the global coronavirus pandemic. As well as killing more than 100,000 people globally, the virus has tipped the world into what many predict will be a Great Depression, and markets have been in free-fall, battering the group's investments. Under Son's leadership SoftBank Group has morphed into an investment and technology firm, and its $100-b...

13Apr By NitishNo Comments

FUNDING

Locale.ai Raises Pre-seed funding from Better Capital

Location analytics startup Locale.ai has raised a pre-seed round of funding led by early-stage venture firm Better Capital. The funding round also saw participation from notable angel investors such as Myntra's co-founder Raveen Sastry and Fusion Charts' co-founder Pallav Nadhani, Locale.ai said in a statement. The company will use the fresh capital to scale up its business and expand globally, primarily in the US. Locale.ai, operated by LocateAI Technologies Pvt. Ltd, was founded by Rishabh Jain and Aditi Sinha last year. The startup aims to help companies engaged in moving assets to get more sustainable demand using real-time location data and analytics. It is already working with mobility and delivery companies in the US, France, Argentina and India. Aditi Sinha, co-founder...

SoftBank CEO Son says will supply 300 million masks per month to Japan

13Apr By NitishNo Comments

News

SoftBank CEO Son says will supply 300 million masks per month to Japan

TOKYO (Reuters) - SoftBank Group Corp CEO Masayoshi Son said he has secured a monthly supply of 300 million face masks for Japan after reaching a deal with Chinese electric vehicle maker BYD Co Ltd, which has also started producing masks. From next month, SoftBank will supply two different kinds of mask, initially for medical staff, in cooperation with the Japanese government’s “mask team”, set up to tackle shortages due to the coronavirus outbreak, Son said on Twitter. SoftBank, which last month said it was donating 1.4 million masks to New York state, will supply the masks without taking a profit. Addressing the supply crunch is a priority for the Japanese government, which will begin delivering two washable masks to households next week a move that has been widely criticized o...

Google Stop Employees from using Zoom Video Conferencing App

13Apr By NitishNo Comments

News

Google Stop Employees from using Zoom Video Conferencing App

Search engine based company Google ban employees from using popular video-conferencing app Zoom after end to end security flaws. Video-conferencing app Zoom which gained over 200 million users worldwide in March amid shutdown due to coronavirus pandemic has recently been under the scanner after few countries reported security issues. Apart from Google, the Singapore education dept, Taiwan Government, Elon Musk's SpaceX, etc has banned video conferencing app over security concerns. The app has also been banned by New York City officials for schools who were earlier using the app to facilitate remote classes and sessions. As Pixr8 News mentioned in its earlier report that Zoom videos had been exposed on the open web due to end to end security flaws. Also, a data-mining feature o...

Amazon Largest Third Party Private Label Company Raises $100 Million

13Apr By NitishNo Comments

FUNDING

Amazon Largest Third Party Private Label Company Raises $100 Million

NEW YORK, April 12th, 2020-- The largest acquirer of Amazon third-party private label businesses Thrasio has secured over $100 million in fresh capital from existing investors which includes Peak6, Upper90, WTI, River Park Ventures, and others. The funding includes $75 million in Series B Preferred equity and $35 million in additional debt capacity bringing total capital raised to over a quarter billion dollars. The Series B values the company at over $700mm, a 32x increase in valuation in the last 12 months (since the March '19 Series Seed financing). In the last 18 months, the company's gross revenue has grown from zero to over $200,000,000. Thrasio has acquired over 40 businesses (and integrated them onto its proprietary operating platf...

Paytm collects Rs 100 cr contributions for PM-CARES Fund

11Apr By NitishNo Comments

INDIA

Paytm collects Rs 100 cr contributions for PM-CARES Fund

Digital payments platform Paytm said contributions for the PM-CARES Fund for the COVID-19 crisis have crossed Rs 100 crore on its platform. Paytm had earlier announced it aims to contribute Rs 500 crore to the PM-CARES Fund. It had said for every contribution or any other payment made on Paytm using the wallet, UPI or Paytm Bank debit card, it will contribute an extra up to Rs 10. "In a little over 10 days, contributions have crossed Rs 100 crores on the Paytm app and the initiative is still going strong," Paytm said in a statement on Saturday. The company said its employees have also come together and contributed their salaries for the fund."Over 1,200 employees have contributed their 15 days, one month, two months to even three months' salary for this noble cause," the statemen...

6Apr By NitishNo Comments

INDIA

Walmart India Encourages Customers to Order Online

Walmart India, which operates in the cash-and-carry format encouraging its users to buy online to avoid the rush on the streets amid the rise of coronavirus cases in the country. The company is witnessing an increase in the number of orders placed through its website and app and have added more capacity to serve them, said Walmart India in a statement. However, Walmart, like other retailers, is also facing challenges in getting sufficient supplies of the goods due to production shortages from the manufacturers and continued bottleneck in logistics and transportation due to lockdown. It is working closely with its suppliers and with the local authorities to minimise and address these challenges, it added. Besides, the company is also facing challenges in terms of shortage of ma...

5Apr By NitishNo Comments

FUNDING

Recko Raises USD 6 Million in Series A funding

Recko, a Bengaluru-based enterprise fintech startup that enables AI-powered reconciliation of digital transactions has raised USD six million in Series A funding. The investment was led by Vertex Ventures SEA and India, and saw participation from existing investor Prime Venture Partners. The fresh funding will be used for further product development, hiring and expanding its presence outside India, Recko said in a statement. Since it was founded in 2017, Recko has reconciled transactions worth USD five billion, it said. The startup has built a SaaS-based financial reconciliation product that, it said, keeps track of the complete transaction lifecycle and commercial contracts for organisations. Its customers include Grofers, Meesho, Dunzo and some of India's top marketplaces ac...

Video calling app Zoom Has Security Flaws

3Apr By NitishNo Comments

News

Video calling app Zoom Has Security Flaws

Zoom, a video conferencing app that received huge traction amid the virus crisis grapples with end to end security flaws. As per the latest news, hackers enter into official web meetings of organizations and disrupting them with pornography and messages. Cybersecurity expert fears that these hacks could be more harmful in the future and access your secure files or organization corporate software. Zoom claims on its official website that they offer end-to-end encryption on its website. “Zoom's solution and security architecture provide end-to-end encryption and meeting access controls so data in transit cannot be intercepted”, according to the company’s website. However, a recent report by The Intercept reveals that video calls on Zoom are not end-to-end encrypted. Instead,...