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30Mar By PriyankaNo Comments

ACQUISITION

Dropbox to Acquire DocSend for $165 Million

SAN FRANCISCO, 03/30/2021-- Dropbox, Inc. (NASDAQ: DBX) to acquire DocSend, a secure document sharing, and analytics company with more than 17,000 customers for $165 Million. “Given the dramatic rise in remote work, there’s increased demand for digital tools that help people organize their content and seamlessly collaborate with each other,” said Dropbox Co-Founder and Chief Executive Officer, Drew Houston. “DocSend is a perfect complement to our product roadmap and we’re thrilled to welcome them to our team. By bringing Dropbox, HelloSign, and DocSend together, we’ll be able to offer a full suite of secure, self-serve products to help them manage critical document workflows from start to finish.” As work becomes more distributed, effective collaboration with external parties feels...

22Mar By PriyankaNo Comments

FUNDING

Purplle.com raises USD 45 mn from Sequoia & others

Mumbai, 03/22/2021: Beauty products selling platform Purplle.com raises USD 45 million involving a clutch of investors, led by Sequoia Capital India joining as a new investor. Sequoia, along with existing investors Verlinvest, Blume Ventures and JSW Ventures, put fresh capital into the company. Ivy Capital, an existing investor, has partially exited its investment making returns of 22 times, a statement said. Collectively, the total money invested across the fresh investment by backers and the partial exit by Ivy comes at USD 45 million. The company did not detail the split between the two. The statement said the investment will bolster the brand''s ambition to deliver 8-10X growth in the next 4-5 years. Its co-founder and chief executive Manish Taneja said it has delivered 90...

TikTok Agrees to Pay $92 Million to Settle Lawsuit Alleging Data Theft

3Mar By PriyankaNo Comments

News

TikTok Agrees to Pay $92 Million to Settle Lawsuit Alleging Data Theft

CHICAGO, 3rd March 2021-- US-based law firms will receive a $92 million proposed class action settlement on behalf of users of the TikTok app. The settlement, if approved by the court, would resolve claims that the social media company wrongfully collected its users’ biometric information and private data, and disclosed that information to third parties. In addition to creating a monetary fund for TikTok users, the settlement requires that TikTok initiate a new privacy compliance training program and take other steps to protect its users’ privacy going forward. TikTok is a video-sharing social network that has denied any privacy violations, the class action lawsuit contended that the app collects and discloses personal data in violation of the Illinois Biometric Information Priv...

HubSpot Acquire Online Media Company The Hustle

23Feb By PriyankaNo Comments

ACQUISITION

HubSpot Acquire Online Media Company The Hustle

Feb 23RD, 2021: CRM-based platform Hubspot acquires an online media company The Hustle for an undisclosed deal. The Hustle produces a newsletter, podcast, and premium research content. The move will give HubSpot more ways to offer its community of scaling companies valuable content across a broader range of topics and a more diverse set of media. “For many customers, their first introduction to HubSpot is through our educational blog, Academy, and YouTube content, not our software. More recently, our customers have started to seek out news and trends-based content across new forms of media like podcasts, newsletters, and research,” said Kieran Flanagan, SVP of marketing at HubSpot. “By acquiring The Hustle, we'll be able to better meet the needs of these scaling companies by del...

15Feb By PriyankaNo Comments

BUSINESS

How Businesses Can Help Their Customers Find The Information They Need

In today’s highly competitive world, businesses must provide customers with the information they need to make purchase decisions in their favor. If they don’t, customers will get that information from their competitors and end up buying from them. This translates to loss of business opportunity and, by extension, loss of revenue. Customers need to be educated about their needs and the solutions available in a timely and accurate manner so they can feel empowered enough to make a purchase decision. There are several strategies that businesses can do to help their customers find the information they need. These include the following, Publishing Information On Websites With advancements in technology, developing and updating business websites has become extremely easy. Bus...

Tunedly Pens A Global Administration Deal with Spirit Music Group

6Feb By PriyankaNo Comments

News

Tunedly Pens A Global Administration Deal with Spirit Music Group

New York, Feb 6th, 2021: Tunedly, a spearheading online music production and publishing resource that has supported over 1,000 artists and 5,500 projects internationally since launching in 2015, has inked a global administration deal with Spirit Music Group. Branded as one of the world’s leading independent music publishers, Spirit Music Group is offering Tunedly full music catalog administration within this new partnership, unlocking a new level of growth opportunities for independent songwriters and music creators on a global scale. About Tunedly Tunedly is a musician and music manager owned online music recording studio that has created a reputable foundation for itself within the industry. From 2015 to now, they have and still are, optimally servicing individuals of eve...

Hyundai Motor acquire 80% stake in Boston Dynamics from SoftBank Group

14Dec By PriyankaNo Comments

ACQUISITION

Hyundai Motor acquire 80% stake in Boston Dynamics from SoftBank Group

SEOUL, South Korea, Dec. 14, 2020-- Hyundai Motor Group will acquire 80% stake in Boston Dynamics in a deal that values the mobile robot firm at $1.1 billion. Financial terms were not disclosed. Hyundai Motor Group will hold an approximately 80% stake in Boston Dynamics and SoftBank, through one of its affiliates, will retain an approximately 20% stake in Boston Dynamics after the closing of the transaction. The acquisition will mark another major step for Hyundai Motor Group toward its strategic transformation into a Smart Mobility Solution Provider including in fields such as autonomous driving technology, connectivity, eco-friendly vehicles, smart factories, advanced materials, artificial intelligence (AI), and robots. Boston Dynamics produces highly capable mobile robots with...

Ola Invest $326 Million to setup World’s Biggest eScooter Plant

14Dec By PriyankaNo Comments

Automobile

Ola Invest $326 Million to setup World’s Biggest eScooter Plant

Tamil Nadu, Dec 14, 2020: India's leading cab service provider Ola inked an agreement with the Tamil Nadu government to invest $326 Million (Rs 2,400 crore) for setting up its first electric scooter factory in the state. Upon completion, the factory will create nearly 10,000 jobs and will be the world's largest scooter manufacturing facility that will initially have an annual capacity of 2 million units, a statement said. "In line with Prime Minister Narendra Modi's vision, Ola's factory is an important step in making an Atmanirbhar Bharat. It will catalyse reduction of India's import dependence in a key future sector like electric vehicles, boost local manufacturing, create jobs as well as improve the technical expertise in the country," it added. Ola said India with its unique ...

Google Acquire Data Mining Startup Dataform

9Dec By PriyankaNo Comments

ACQUISITION

Google Acquire Data Mining Startup Dataform

London, 9th December 2020: Uk based data analytics platform Dataform is joining Google Cloud, the announcement came from Dataform blog. Dataform will continue to be run and maintained by the same 7 members team under the part of Google Cloud. Launched in 2017 by Guillaume-Henri Huon & Lewis Hemens, Dataform enables entire data to collaboratively develop, test, and share with business on which they make decisions. As part o the deal, Dataform Web will be free for all new users and existing customers will be transitioned onto the free plan immediately. "Throughout our journey we’ve been focused on giving data analysts and data engineers the tools they need to take raw, messy data, transform it, and put it into the hands of their organization. We’ve only just scratched the s...

4Dec By PriyankaNo Comments

FUNDING

Step Raises $50 Million in Series B Funding from Stripe, Justin Timberlake & others

SAN FRANCISCO, 4th December 2020-- Step, a financial services company built for teens and families raises a $50 million Series B round of funding. The round was led by Coatue, with participation from returning investors Stripe, Crosslink Capital, Collaborative Fund, and Will Smith’s Dreamers VC. Step also added several new investors including Charli D’Amelio, Justin Timberlake, The Chainsmokers, Eli Manning, Kelvin Beachum, Larry Fitzgerald, and Andre Iguodala alongside prominent fintech executives from the likes of Facebook, Square, Venmo, Visa, and others. To date, Step has raised more than $75 million from investors. “Since Step’s launch, we’ve seen massive demand for this new type of all-in-one banking solution, making it much easier for teens to learn about money manag...

PhonePe Raises $700 million at $5.5 billion valuation

3Dec By PriyankaNo Comments

FUNDING

PhonePe Raises $700 million at $5.5 billion valuation

Bengaluru, 3rd Dec. 2020-- Walmart owned eCommerce platform Flipkart separated its payment unit PhonePe, as the digital payment firm raises $700 million in funding valued at USD 5.5 billion. The financing round was led by Walmart including existing Flipkart investors, a statement said. Flipkart will remain PhonePe's majority shareholder, and the two businesses will retain their close collaboration, it added. "Recognising the momentum that has been achieved, as well as PhonePe's significant growth potential, Flipkart's Board determined that this was the right time to partially spin-off PhonePe so it can access dedicated capital to fund its long-term ambitions over the next three to four years," the statement said. PhonePe has crossed the 250 million registered user milestone, w...

ServiceNow to Acquire AI based Element AI

30Nov By PriyankaNo Comments

ACQUISITION

ServiceNow to Acquire AI based Element AI

SANTA CLARA, Calif., 30th Nov 2020-- ServiceNow (NYSE: NOW) to acquire Element AI, a leading artificial intelligence (AI) company with deep AI capabilities and some of the world’s brightest AI minds. Element AI will significantly enhance ServiceNow’s commitment to build the world’s most intelligent workflow platform, enabling employees to work smarter and faster, streamline business decisions, and unlock new levels of productivity. Element AI has world-class scientists and practitioners who will bring expertise in applying modern AI to text and language, chat, images, search, question response, and summarization and will accelerate AI innovation natively in the Now Platform. With the acquisition of Element AI, ServiceNow will create an AI Innovation Hub in Canada to accelerate c...