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Clover raises $5.5 mn from investors including Omnivore

14Feb By PriyankaNo Comments

FUNDING

Clover raises $5.5 mn from investors including Omnivore

Agritech platform Clover has raised over $5.5 million (around Rs 39 crore) from investors including Omnivore. The company said in a statement that it has raised this amount in Series A funding from Omnivore alongside existing investors Accel and Mayfield. Clover is a greenhouse agritech platform, which partners with farmers across India and markets premium quality, branded, greenhouse-grown fresh produce through B2B and B2C channels. Accel and Mayfield had invested in Clover's seed round back in December 2018. Based in Bengaluru, Clover was co-founded by Avinash BR, Gururaj Rao, Arvind Murali, and Santhosh Narasipura. Avinash, co-Founder of Clover, said, "This additional funding will help to accelerate the growth of our managed farm network, support our entry into new cities...

Amazon Founder Buys Warner Estate for $165 mn

13Feb By PriyankaNo Comments

News

Amazon Founder Buys Warner Estate for $165 mn

Amazon founder & CEO Jeff Bezos bought the Warner Estate from media mogul David Geffen for $165 million, setting a new record for the region. This Los Angeles based home deal price set a new record in the area, according to the data. Last year Lachlan Murdoch paid around $150 million for a Bel-Air estate seen in "The Beverly Hillbillies," a 1960s television show. The Warner Estate spans nine acres (3.6 hectares) in Beverly Hills. It is a Georgian-style compound with a floor once owned by Napoleon, guest houses, a tennis court, and a nine-hole golf course. It was originally built in the 1930s by the late Jack Warner, former president of Warner Brothers, the Journal reported. Bezos, whose worth has been estimated at more than $110 billion, started internet colossus Amazon...

12Feb By PriyankaNo Comments

News

WhatsApp Now Has 2 billion Users

The Facebook-owned messaging service WhatsApp now has more than two billion users around the world. WhatsApp, acquired by Facebook in 2014, has grown into one of the most-used services in the Facebook "family" of apps, offering free messaging along with voice and video calls. "Private conversations that once were only possible face-to-face can now take place across great distances through instant chats and video calling," a WhatsApp blog post said. "There are so many significant and special moments that take place over WhatsApp and we are humbled and honored to reach this milestone." The statement said WhatsApp remained committed to its "strong encryption" that enables users to connect privately even amid calls by law enforcement in the United States and elsewhere to provide more ...

Samsung S20 Launch, First AI and 5G based Galaxy Smartphone

12Feb By PriyankaNo Comments

Tech

Samsung S20 Launch, First AI and 5G based Galaxy Smartphone

Samsung has unveiled Galaxy S20, a new series of flagship devices featuring 5G and artificial intelligence camera technology, to strengthen its position in the high-end smartphone market. "As we enter this new decade, 5G will completely change how we communicate... Galaxy S20 variants - Galaxy S20, Galaxy S20+ and Galaxy S20 Ultra - come with 5G connectivity," Samsung Electronics President and Head of Mobile Communications Business TM Roh said in a statement. The company said Galaxy S20 series introduces artificial intelligence (AI) camera technologies and is build for future of communications. The South Korean firm has been witnessing strong competition in the premium mobile phone space from Apple's iPhone and OnePlus. The Galaxy S20 series, unveiled here at Samsung's 'Unpacke...

12Feb By PriyankaNo Comments

ACQUISITION

GoDaddy Acquires Uniregistry and its Marketplace

SCOTTSDALE, Ariz., Feb. 11, 2020-- GoDaddy Inc is acquiring Uniregistry's leading domain registrar and marketplace businesses. Financial details of the transaction were not disclosed. The deal is expected to close sometime in Q2 2020. The Uniregistry domain registry is not part of the transaction. Uniregistry started in 2014 by catering to domain name investors with specialized tools to register, manage and sell domains. They later expanded its service to other audiences while still focusing on domain name investors. "Uniregistry is unique in that domain investors built it from the ground up so their products and services have always catered to the domain investor community," said GoDaddy Vice President Paul Nicks. "This acquisition reinforces GoDaddy's commitment to domain inves...

CarDekho to offer ESOP scheme worth $3.5 mn

11Feb By PriyankaNo Comments

BUSINESS

CarDekho to offer ESOP scheme worth $3.5 mn

Automobile portal CarDekho said it will offer an ESOP cash-out scheme worth USD 3.5 million (over Rs 24 crore) to about 100 of its current and former employees. CarDekho will allow eligible employees (current and former) to cash out 50 per cent of their vested options under Girnarsoft group's ESOP Exercise and Secondary Sale Plan, a statement said. "The current discretionary ESOP cash-out scheme is valid for both existing employees who have served 2 years and former employees who have served 4 years in the company and held vested options as of 31st January 2020," it added. The cash-out, estimated to be worth USD 3.5 million, is the second one this financial year, it added. The first ESOP cash out was announced in April last year, where Jaipur-headquartered CarDekho had bought E...

MoEngage Raises USD 25 Million in Series C Investment Round

11Feb By PriyankaNo Comments

FUNDING

MoEngage Raises USD 25 Million in Series C Investment Round

Customer analytics and cross- channel engagement platform MoEngage has raised USD 25 Million in Series C funding. Eight Roads Ventures led the round with participation from its US-based sister fund, F-Prime Capital, along with Matrix Partners India and Ventureast. MoEngage recently achieved Amazon Web Services Retail Competency. The new round of funding will be used to deepen relationships in Asia, integrate advanced capabilities into the product mix and scale operations in the USA and Europe, MoEngage's two fastest-growing markets. "The latest round of funding will help us reach more brands and empower them with the next-generation customer engagement platform built for the mobile-first world that is easier to use, fully integrated and intelligent", said Raviteja Dodda, Found...

Recruitment platform WorkIndia raises $7 million from Xiaomi

10Feb By PriyankaNo Comments

FUNDING

Recruitment platform WorkIndia raises $7 million from Xiaomi

Blue-collar recruitment platform WorkIndia has raised $7 million (Rs 42 crore) from Chinese tech major Xiaomi. Previous investors of WorkIndia who have done multiple investment rounds in the company include Beenext Pte ltd and a Japanese hedge fund Asuka Investments among others, the company said. In less than five years, the company has moved from being a technology startup to an unprecedented 2.1 crore unique app sessions per month, 1.5 crores registered job seekers and presence in 763 cities across India, it added. "The cutting edge technology developed by WorkIndia, utilising geo-positioning and dynamic algorithms, is one of the best in class that we have seen. The company has created a massive dent in the Indian blue-collar segment within a short span of time. It is inspir...

WeWork Appoints Indian Origin CEO to start fresh chapter

3Feb By PriyankaNo Comments

News

WeWork Appoints Indian Origin CEO to start fresh chapter

New York, Feb 3, 2020: Embattled office-sharing firm WeWork has hired a new CEO to turn the page on Adam Neumann, its co-founder and former leader whose antics have finally tired investors. Indian origin Sandeep Mathrani, a real estate industry veteran, will officially take over on February 18, WeWork said in a statement published Saturday. He will be charged with the difficult task of relaunching WeWork, which had been one of America''s most celebrated startups that put a mammoth footprint in the commercial real estate of major cities around the globe. Its collapse led to Neumann''s departure and cost the main shareholder, Japanese billionaire Masayoshi Son, billions of dollars. Mathrani will replace Artie Minson and Sebastian Gunningham, who have been acting as interim CEOs s...

Digital Advertising Startup AdOnMo Raises $3 Million

3Feb By PriyankaNo Comments

News

Digital Advertising Startup AdOnMo Raises $3 Million

Media-tech startup AdOnMo, which claims to be the country's first contextually-targeted digital out-of-home (OOH) advertising firm, has raised USD 3 million (around Rs 21.4 crore) in pre-series round funding from Alibaba and others. The funding was led by Alibaba's holding firm Ant Financial-run BAce Capital and others like Astarc Ventures and Mumbai Angels Network, the Hyderabad-based firm said in a statement on Thursday. The company will use the fund to expand operations, acquire talent and accelerate product development. AdOnMo brings together online and outdoor advertising. Currently, it is operational in Mumbai, Hyderabad, New Delhi, and Bengaluru. Founded in 2017 by Sandeep Bommireddi and Sravanth Gajula, Adonmo helps advertisers reach their target audience at scale with...

McDonald’s Global Sales Surpass 100 bln USD in 2019

30Jan By PriyankaNo Comments

BUSINESS

McDonald’s Global Sales Surpass 100 bln USD in 2019

Fast food retail chain McDonald said its annual sales surpassed 100 billion U.S. dollars for the first time. McDonald's Chief Executive Officer Chris Kempczinski, who took charge in November after the former CEO was dismissed, said global comparable sales growth in 2019 was the chain's highest in more than 10 years. "2019 marked a year of significant milestones for McDonald's including surpassing 100 billion dollars in Systemwide sales and achieving our highest global comparable sales growth in over a decade," said Kempczinski. The company said it would spend more on technology and research in 2020, as the world's largest burger chain bets on revamped stores and menu additions to lure diners and gain market share. The company returned 2.3 billion dollars to shareholders through...

26Jan By PriyankaNo Comments

INDIA

Naukri.com Founder gets India’s Fourth Highest Civilian Award

New Delhi, 26th Jan, 2020: Sanjeev Bikhchandani, founder and vice-chairman of Naukri.com, India's leading job site, was on Saturday conferred with Padma Shri, one of the highest civilian awards. According to a home ministry statement, Bikhchandani has been given Padma Shri in the category of trade and industry. Soon after his name was announced, Sanjeev Bikhchandani tweeted, "Honoured and privileged to find my name in the Padma Shri list.While I have been given this award the truth is I owe it to the joint efforts and support of so many other people - colleagues, friends and family. Proud to represent the start up entrepreneur community in this list His company also runs Jeevansathi.com, 99acres.com, and Shiksha.com. In addition, it has made strategic investments in promising web...