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Happily Unmarried Raises $843k from Info Edge

1Oct By PriyankaNo Comments

FUNDING

Happily Unmarried Raises $843k from Info Edge

India based Info Edge Ltd invested $843k (Rs 6 crore) in Happily Unmarried Marketing through its wholly-owned subsidiary. Info Edge has agreed to acquire 1,244 optionally convertible cumulative redeemable preference shares and the cost of acquisition is about Rs 6 crore, Info Edge said in a regulatory filing. The aggregate shareholding of the company in Happily Unmarried, post previous fund raise exercise from other investors and completion of current fund raise exercise by Happily Unmarried, would be 42.33 per cent on fully converted diluted basis. Happily Unmarried has diversified into men's grooming through its brand 'Ustraa' that is now driving the growth of the business. The investment would help in consolidating Info Edge's position into the said line of business withi...

30Sep By PriyankaNo Comments

News

Forever 21 fashion chain files for bankruptcy

Low-price fashion chain Forever 21, a one-time hot destination for teen shoppers that fell victim to its own rapid expansion and changing consumer tastes, has filed for Chapter 11 bankruptcy protection. The privately held company based in Los Angeles says it will close up to 178 stores. The company once had more than 800 stores in 57 countries. Forever 21 joins Barneys New York and Diesel USA in a growing list of retailers seeking bankruptcy protection as they battle online competitors. Forever 21 was founded in 1984 and, along with other so-called fast fashion chains like H&M and Zara, rode a wave of popularity among young customers that took off in the mid-1990s. But over the last year or so, fast fashion has fallen out of style. vivus займзайм на счет в банкеза...

30Sep By PriyankaNo Comments

INDIA

Saudi Arabia to Invest $100 Bn in India; Identifies 40+ Investment Opportunities

Saudi Arabia is looking to invest $100 billion in India in areas of petrochemicals, infrastructure and mining among others. Considering future growth potential of India Saudi Ambassador Dr Saud bin Mohammed Al Sati has said, “The future belongs to India and Saudi Arabia is looking to tap this opportunity and making investments in India potentially worth $100 billion in the areas of energy, refining, petrochemicals, infrastructure, agriculture, minerals and mining,”. In this month, Saudi Arabia’s biggest oil company Aramco acquired 20% stake in India's biggest oil refinery Reliance Industries Ltd reflected the strategic nature of the growing energy ties between the two countries. The envoy said investing in India’s value chain from oil supply, marketing, refining to petrochemical...

How to Build Your Small Business From Scratch

26Sep By PriyankaNo Comments

Story

How to Build Your Small Business From Scratch

More and more individuals are dreaming about leaving their 9 to 5 jobs with the intent to start a business and become financially independent. However, while this idea might sound super appealing, it takes a lot of effort and it is not a stretch to say that plenty of such attempts end up as a failure. You can find a lot of guides on the internet like how to start a small business in 12 steps by Oberlo, but even these great articles do not cover the whole thing. After all, you will need a lot of experience and there is no denying that business takes time to build. But that is certainly not enough. These unorthodox tips will help you look at the whole process from a different perspective the next time you are planning to start a business. Be sure to read them. Being Yourself ...

WhistleDrive raises $10 Million from Colosseum Group

26Sep By PriyankaNo Comments

FUNDING

WhistleDrive raises $10 Million from Colosseum Group

26th Sept, 2019-- WhistleDrive, a city-based employee transportation company has raised $10 million (Rs 72 crore) series B funding from Chicago-based Colosseum Group. WhistleDrive provides technology-enabled fleet services for corporates and operates 700+ fleet across three cities including Hyderabad, Bengaluru and Chennai. CEO of WhistleDrive Rakesh Munnanooru said the firm targets to grow 10x with this series-B investment. "In the next 12 months, we will look at entering two new cities to offer our TaaS Model "transportation as a service" to Corporates beyond Hyderabad, Bengaluru, Chennai where we will operate, expand fleets and fast-track customer acquisitions," he said. WhistleDrive offers office commute services to several companies, including ADP, Invesco and Hitachi Co...

Flipkart Cofounder Invest $100 Million in Indian Fintech Firm, Becomes CEO

25Sep By PriyankaNo Comments

FUNDING

Flipkart Cofounder Invest $100 Million in Indian Fintech Firm, Becomes CEO

25th Sept, 2019- Flipkart co-founder Sachin Bansal, who sold his part of equity and exited the e-commerce major with USD 1 billion in payout announced an investment of Rs 739 crore (close to $100 million) in Bengaluru based lending firm CRIDS. The percentage of shares has not been disclosed. The 37-year old billionaire invest $100 million in two part, where $20 million is in secondary transactions to buy out share of existing investors. Unlike his past bets, where he has played the role of a financial investor alone, Bansal will lead the lending firm as its chief executive officer. Bansal had sold out his stake in Flipkart when the American retail giant Walmart acquired the majority stake in the ecommerce platform co-founded by Bansal and his friend Binny Bansal last year....

WeWork CEO Adam Neumann decided to Step down

25Sep By PriyankaNo Comments

News

WeWork CEO Adam Neumann decided to Step down

WeWork co-founder Adam Neumann has decided to step down as CEO of the office sharing startup, people with knowledge of the matter said, citing pressure from board members tied to SoftBank. Neumann will remain as chairman of the company he started in 2010, and he continues to control a majority of voting shares, the sources said. The company confirmed the report, saying the change is effective immediately. As we published an article on sunday, there were speculation in the WeWork board to replace Adam Neumann as chief executive. The showdown between SoftBank and Adam comes after We Company postponed its initial public offering (IPO) last week. SoftBank is considering to make Neumann as a interim CEO and hired an external replacement. However, SoftBank could choose not to...

Facebook Acquires Startup Working on to control Computers Using Brain

24Sep By PriyankaNo Comments

ACQUISITION

Facebook Acquires Startup Working on to control Computers Using Brain

Facebook acquires a startup working on ways to command computers or other devices using brain thought instead of taps, swipes, or keystrokes. CTRL-labs will become part of Facebook Reality Labs with an aim at perfecting the technology and getting it into consumer products, according to Andrew Bosworth, vice president of augmented and virtual reality at the California-based social network. "We know there are more natural, intuitive ways to interact with devices and technology," Bosworth said in a post at Facebook announcing the acquisition. "And we want to build them. The vision for this work is a wristband that lets people control their devices as a natural extension of movement." Bosworth explained that the wristband will decode electrical impulses such as those sent to h...

Amazon Ordered 100,000 fully-electric delivery vehicles

23Sep By PriyankaNo Comments

News

Amazon Ordered 100,000 fully-electric delivery vehicles

Online eCommerce company Amazon ordered 100,000 Electric delivery Vans from US based startup Rivian. Amazon, which currently delivers 5 billion products per year is committed to meet the Paris Agreement 10 Years early through this deal. The move is a major boost to Rivian, a Tesla like automaker that will launch its first production vehicle next year. Based at Michigan, Rivian is custom designing the vans including exterior, interior, suspension, and software for Amazon. Amazon will deploy the vans globally. Rivian aims to deliver the first Amazon vans by 2021, and to deliver 10,000 by late 2022. In a press release, Amazon said it expects to have the full fleet on the road by 2030. The automaker will also service the vans (though electric vehicles require less maintenan...

Shopify to Acquire Warehouse Firm 6 River Systems For $450 Million

17Sep By PriyankaNo Comments

ACQUISITION

Shopify to Acquire Warehouse Firm 6 River Systems For $450 Million

OTTAWA, Canada & WALTHAM, MA 17th September 2019- Shopify the leading multi-channel ecommerce platform looking to acquire warehouse firm 6 River Systems. Shopify will acquire all of 6 River Systems’ outstanding securities in a transaction valued at approximately USD$450 million, consisting of approximately 60% in cash and 40% in Shopify Class A Subordinate Voting Shares. Included in this amount are Shopify Class A shares and options valued at approximately $69 million that will be issued to 6 River Systems’ founders and employees that will vest subject to certain conditions and will be treated as stock-based compensation. In June, Shopify introduced the Shopify Fulfillment Network, a powerful and trusted fulfillment network that will ensure timely deliveries, lower shipping c...

17Sep By PriyankaNo Comments

FUNDING

SaaS Startup Unearth raises $7 Million in Series A funding

SEATTLE, SEPTEMBER 16th 2019-- Unearth Technologies proudly announces a $7 million Series A investment led by Vulcan Capital, with participation from Madrona Venture Group. This latest round brings the total funding raised by the company to $11.6 Million. Founded in late 2016, Unearth initially focused on improving productivity in construction with place-based data management. Their success as a construction software company quickly led to an expanding customer base amongst the broader built world industry, including major players in the utilities, government, infrastructure, and energy sectors. Through strong customer partnerships, the company discovered what the built world really needed: an easier way for entire teams to use GIS data for building, inspecting, and maintaining ...

17Sep By PriyankaNo Comments

News

Facebook Stop News Headline changes from Advertisers

Facebook is working to stop advertisers from changing headlines in links to news stories after concerns raised by a British political party's altering of one such link. The leading social network confirmed the internal effort in the face of concerns over a BBC headline altered in an ad to evidently change the tone of an article about British government spending on education. "We are working to put safeguards in place by the end of the year to ensure publishers have control over the way their headlines appear in advertisements," Facebook said in response to an AFP inquiry. The new policy came over complaints that advertisers might be able to deceptively modify the content in news stories shared on the huge social network. A recent Conservative Party Facebook ad "seems to have a...