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Author: Priyanka

Apple Profit fell 13 percent due to weak iPhone sales
31Jul By PriyankaNo Comments
BUSINESS

Apple Profit fell 13 percent due to weak iPhone sales

In quarterly results, Apple mentioned its profit hits first time since 2001 due to weak iPhone sales. Apple profit fell 13 percent from the year-ago period to USD 10 billion while overall revenues increased one percent to a better-than-forecast USD 53.8 billion. However, Apple delivered stronger-than-expected results from services, its shares rose more than four percent in after-hours trade. As iPhone sales have weakened, Apple has been shifting to earnings from digital content and services sold to the legions of fans of its devices. Despite the decline in sales and profits, the CEO of Apple Tim cook said, "This was our biggest June quarter ever driven by all-time record revenue from services, accelerating growth from wearables, strong performance from iPad and Mac and signifi...
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Flipkart Launched offline Furniture Store in Bengaluru
30Jul By PriyankaNo Comments
News

Flipkart Launched offline Furniture Store in Bengaluru

Flipkart announced its foray into the offline space with its decision to set up first Furniture Experience Centre in Bengaluru. Spread across nearly 1,800 square feet, Flipkart would offer a touch and feel experience to customers in the fast-evolving online furniture market, the e-commerce major said in a statement. According to the company, this is a step towards helping customers understand the vast selection of furniture offered by Flipkart and increase awareness around the seamless buying and installation experience it offers. Flipkart Vice-President (Furniture, Electronics and Private Label) Adarsh Menon said, "As a customer-focused organisation, we understand the requirements of customers and hence 'FurniSure'. The idea behind the FurniSure Experience Zone is to allow custo...
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Xoxo Tours — The Solo Travel App That Everyone Went Crazy Over It
29Jul By PriyankaNo Comments
Story

Xoxo Tours — The Solo Travel App That Everyone Went Crazy Over It

There are not many things which you can’t do with an internet connection in this 21st century. Yes, the internet has definitely taken the world by storm. Who imagined that one day you will be connecting with strangers — the travelers from the far end of the world in an instant and building a friendship by chatting or video calling with them. Connecting with different people across the globe is one of the coolest things that the internet has made achievable. And people with brilliant minds are taking advantage of it to create possibilities. Xoxo Tours, a social travel app is a great example of it and people have been going crazy over this solo travel app since its launch. Xoxo Tours Solo Travel App: The Innovative App that Bridges Distance Xoxo Tours offers an opportunity for like...
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Grab invests $2 billion in Indonesia through Softbank Vision Fund
29Jul By PriyankaNo Comments
News

Grab invests $2 billion in Indonesia through Softbank Vision Fund

Ride-hailing giant Grab is investing USD 2 billion in Indonesia over the next five years, using funds from Japan's SoftBank Group to boost its presence in Southeast Asia's biggest economy. The Singapore-based firm has seen its business grow rapidly since it bought US-based rival Uber's regional ride-hailing and food business in March last year in exchange for a 27.5 percent stake in Grab. Its Indonesian investment will focus on building a next-generation electric vehicle transport network and rolling out e-healthcare services to improve access to doctors and medical services across the archipelago. The announcement came after SoftBank last week said it would partner with tech firms including Apple and Microsoft in a new $108 billion investment fund. It is the long-mooted succe...
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Affle India raises $20.5 million before IPO
27Jul By PriyankaNo Comments
FUNDING

Affle India raises $20.5 million before IPO

Mobile marketing firm Affle India has raised $20.5 million (about Rs 206.55 crore) from 15 anchor investors by allotting 27,72,483 equity shares at a price of $10.5 per share, before its IPO launch. Affle India Ltd will launch its $60.5 million initial public offerings from July 29 and has fixed a price band of Rs $10.5 per share. The issue will close on July 31, 2019, according to a company statement. Among the 15 anchor investors, Abeerden Asian Smaller Companies Investment and Franklin Templeton Investment Funds has subscribed over 3.05 lakh shares each. Other anchor investors include Goldman Sachs India, Malabar India Fund, among others. The IPO comprises of a fresh issue aggregating up to $13 million and an offer for sale of up to 49,53,020 equity shares by Affle Holdings...
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US Presidential Candidate Tulsi Gabbard sues Google for USD 50 million
26Jul By PriyankaNo Comments
USA

US Presidential Candidate Tulsi Gabbard sues Google for USD 50 million

Tulsi Gabbard, the Democratic presidential candidate of the US Congress, sued Google for at least USD 50 million for the tech giant's "discriminatory actions" against her 2020 election campaign and stifling her free speech rights. Gabbard, 38, an Iraq war veteran who has been serving as the US Representative for Hawaii's 2nd congressional district since 2013, said in a lawsuit filed on Thursday in a federal court in Los Angeles, that Google infringed on her free speech when it briefly suspended her campaign's advertising account after the first Democratic debate in June. Tulsi Now Inc, the campaign committee for Gabbard, said Google suspended the campaign's advertising account for six hours on June 27 and June 28, obstructing its ability to raise money and spread her message to pote...
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WhatsApp to roll out payments service in India later this year
25Jul By PriyankaNo Comments
INDIA

WhatsApp to roll out payments service in India later this year

WhatsApp, which has over 400 million users of its messaging service in India, plans to roll out its much-awaited payments service in the country later this year, more than a year after it began testing the offering here. The Facebook-owned company has been testing its payments service in the country since last year with about a million users, but could not launch full-fledged services as it has been awaiting regulatory approvals. Speaking at an event here on Thursday, WhatsApp Global Head Will Cathcart said the company's vision is to make sending money as easy as sending messages on the platform. "We built payments based on the UPI standard, partnered with banks here in India... We believe that if we did this right, it will accelerate financial inclusion and bring more people in ...
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Tesla reports huge Q2 Loss, Shares plunge 10 percent
25Jul By PriyankaNo Comments
Market

Tesla reports huge Q2 Loss, Shares plunge 10 percent

Tesla shares have plunged as the electric carmaker reported a bigger loss in Q2. Tesla reported a second-quarter loss of $408 million or $1.12 per share compared to the loss of 40 cents forecast by analysts. Shares tumbled 10 percent to USD 238.39 in after-hours trading. Overall revenues jumped 66 percent from a year earlier to $5.2 billion as Tesla reported sharply higher deliveries of its Model 3, the most affordable vehicle in its lineup and the hope for giving the company a wider customer base."We achieved record deliveries of 95,356 vehicles and record production of 87,048 vehicles, surpassing our previous quarterly records," Tesla said in a letter to investors. "This is an important milestone as it represents rapid progress in managing global logistics and delivery operatio...
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PayPal launches Xoom international money transfer service in UK
24Jul By PriyankaNo Comments
News

PayPal launches Xoom international money transfer service in UK

London: US payments company PayPal is expanding further in Europe by launching its international money transfers service Xoom in Britain and 31 other countries across the continent. Xoom allows customers to transfer money abroad to more than 130 markets internationally, including India and China. The company said the roll-out would help it grab market share in the $689 billion global remittances market, building on previous launches of the service in the United States and Canada. Britons alone transfer over $26 billion in remittances overseas annually, many sending money to help family members pay bills. Xoom partners with major banks and other finance firms to facilitate the money transfers, with customers able to transfer up to 8,800 pounds ($11,029) per transaction. Pay...
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Microsoft invests $1 billion in OpenAI, a platform cofounded by Elon Musk
23Jul By PriyankaNo Comments
FUNDING

Microsoft invests $1 billion in OpenAI, a platform cofounded by Elon Musk

SAN FRANCISCO and REDMOND, Wash., July 22, 2019 — Software major Microsoft led by Satya Nadella invested $1 billion in AI-based platform OpenAI. The two companies have partnered to further extend Microsoft Azure’s capabilities in large-scale AI systems. Through this partnership, the companies will accelerate breakthroughs in AI and power OpenAI’s efforts to create artificial general intelligence (AGI). The resulting enhancements to the Azure platform will also help developers build the next generation of AI applications. The partnership covers the following: Microsoft and OpenAI will jointly build new Azure AI supercomputing technologiesOpenAI will port its services to run on Microsoft Azure, which it will use to create new AI technologies and deliver on the promise of artificial ge...
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TVS Motor Singapore Invest US$7 Million in AI Decision Platform
22Jul By PriyankaNo Comments
FUNDING

TVS Motor Singapore Invest US$7 Million in AI Decision Platform

SINGAPORE and NEW YORK, July 22, 2019-- TVS Motor Singapore, a wholly-owned subsidiary of TVS Motor Company Limited, India, has signed definitive agreements to invest $7 million in Scienaptic Systems Inc., a Delaware corporation, headquartered in New York City. TVS Motor (Singapore) Pte. Limited led this Series A funding in Scienaptic. Scienaptic has combined the latest big data technologies and proprietary machine learning and artificial intelligence algorithms on its decision platform, "Ether." Solutions built on Ether enable enterprises to improve risk and credit assessment, monitor evolving fraud patterns, and improve customer journeys and experience. Scienaptic counts several marquee Fortune 100 enterprises as its clients. Rajesh Narasimhan, Board Member of TVS Motor Compan...
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