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Amazon Sends Legal Notice to Future Group over Asset Sale to Reliance Group

12Oct By PriyankaNo Comments

News

Amazon Sends Legal Notice to Future Group over Asset Sale to Reliance Group

NEW DELHI, 12th October 2020: US based eCommerce giant Amazon sends a legal notice to Future Group, alleging that the retailer's $3.4 billion asset sale to Reliance Industries violated an agreement with the e-commerce giant. "We have initiated steps to enforce our contractual rights," a spokesperson for the Seattle-based e-commerce giant said. "As the matter is sub-judice, we can't provide details." In August 2019, Future Retail had informed stock exchanges that Amazon.Com NV Investment Holdings LLC would acquire 49 per cent stake in Future Coupons from their promoters, led by Kishore Biyani, for an undisclosed amount. At that time Future Coupons held 7.3 per cent stake in Future Retail. As part of the agreement, Amazon was also granted a call option, which allowed the US e-commer...

The Story behind Paytm App delisting from Google Play Store

5Oct By PriyankaNo Comments

BLOGS

The Story behind Paytm App delisting from Google Play Store

---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Note: The article was written by Paytm Team on its blog first and we copied the article and published it here. The article represents their side of views. ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Suddenly UPI cashback is called an “Online Casino” by Google. On Friday, 18 September 2020, India’s most preferred payments and financial services app – Paytm wa...

Paytm Launches its Own App Mini Store after Google Hit

5Oct By PriyankaNo Comments

News

Paytm Launches its Own App Mini Store after Google Hit

New Delhi, 5th Oct 2020: India's leading payment app Paytm has launched its own mini-app store to support local app developers after Google ban its payment app without sending an official email to the company. Paytm being temporarily removed from Google’s Play Store on 18th September for violating developer guidelines. Also, Google proposes a 30% commission from the Indian app developers through its in-app billing system but facing backlash Google delays this decision to April 2022. Paytm in its official statement said, the mini-app store will help developers take their products to the masses and is providing listing and distribution of these mini-apps within its app. More than 300 apps, including Decathlon, Ola, Rapido, Netmeds, 1MG, Domino’s Pizza, FreshMenu, NoBroker, have join...

Zynga Acquire Istanbul Based Rollic for $180 Million

3Oct By PriyankaNo Comments

ACQUISITION

Zynga Acquire Istanbul Based Rollic for $180 Million

SAN FRANCISCO, Oct 3rd, 2020-- Zynga acquired 80% of Istanbul-based mobile games developer and publisher Rollic for $180 million in cash. Over the next three years, Zynga will acquire the remaining 20% in equal installments at valuations based on specific topline and profitability goals. The Rollic acquisition marks Zynga’s entrance into the fast-growing hyper-casual market and brings a highly talented team with a substantial network of external developers to Zynga. Rollic also meaningfully increases Zynga’s audience while growing its advertising business. Rollic will continue to be led by founder and Chief Executive Officer Burak Vardal and its current management team. Additionally, the company plans to maintain its headquarters in Istanbul, Turkey. “We’re thrilled to welco...

US Unemployment Rate Fall to 7.9%, 661,000 Jobs are Added

2Oct By PriyankaNo Comments

USA

US Unemployment Rate Fall to 7.9%, 661,000 Jobs are Added

Washington, 2nd Oct 2020: The US economy added 661,000 jobs in September, the Labor Department said on Friday. Total nonfarm payroll employment increased by 661,000 in September. The unemployment rate dropped to 7.9 percent compared to 8.4% in the previous quarter, but the true rate, after adjusting for the misclassification error, was 8.3 percent. Between February and April, more than 22 million jobs were lost. Since April, 52% of those jobs have been recovered. However, recent data suggest that the rate of job recovery is slowing. We expect the US growth and jobs revivals to continue to decelerate in the coming months as the number of new Covid-19 cases is growing, layoff rates remain high, and weaker government stimulus limit the spending capacity of many households. As l...

Axis Security Raises $32 Million to Accelerate Growth

2Oct By PriyankaNo Comments

FUNDING

Axis Security Raises $32 Million to Accelerate Growth

SAN MATEO, Calif., Oct. 2, 2020-- Axis Security, the leader in Zero Trust Access raises $32 million in Series B funding led by Canaan Partners, with participation from existing investors Ten Eleven Ventures and Cyberstarts. Axis will use the funds to accelerate growth and meet market demand driven largely by COVID-19 and the work from anywhere (WFA) movement sweeping the globe. As part of the funding round, Canaan Partners' general partner Joydeep Bhattacharyya has joined Axis Security's board of directors. "Axis has quickly established itself with a differentiated, already proven approach to the decades-old problem of securing application access," said Bhattacharyya. "What has been most impressive to us is how the company has moved quickly and met the opportunity since coming out o...

Starbucks Announces 10% Increase in Quarterly Cash Dividend

1Oct By PriyankaNo Comments

Market

Starbucks Announces 10% Increase in Quarterly Cash Dividend

SEATTLE, Oct 1st 2020-- Starbucks Corporation (NASDAQ: SBUX) announced that its Board of Directors approved a 10% increase in the Company’s quarterly cash dividend. The quarterly cash dividend will increase from $0.41 to $0.45 per share and will be effective with the dividend payment to be distributed on November 27, 2020 to shareholders of record on November 12, 2020. This increase raises the Company’s annual dividend rate to $1.80 per share. “The Board’s decision to raise our quarterly dividend demonstrates confidence in the strength of our recovery and the robustness of our long-term growth model,” said Kevin Johnson, Starbucks president, and CEO. “Our cash flow generation is strong, and we remain committed to reducing our financial leverage while continuing to invest for futu...

Amazon Introduces Amazon One, a Contactless Payment via Palm

29Sep By PriyankaNo Comments

News

Amazon Introduces Amazon One, a Contactless Payment via Palm

Seattle, 29th Sept 2020- US-based eCommerce platform Amazon Introduces Amazon One, a contactless way for people to use their palm to pay at the store, entering a location like a stadium, etc. Amazon said the service is designed to be highly secure and uses custom-built algorithms and hardware to create a person’s unique palm signature." Amazon will use this service in select Amazon Go stores, where Amazon One will be added to the store’s entry gate as a convenient choice for customers to use to enter the store to shop. In most retail environments, Amazon One could become an alternate payment or loyalty card option with a device at the checkout counter next to a traditional point of sale system. The process takes less than a minute to sign up at these Amazon Go stores using an ...

28Sep By PriyankaNo Comments

USA

US Judge Suspends Trump Ban on Tiktok

Washington, 28th Sept 2020: U.S. District Judge Carl Nichols temporarily blocked President Donald Trump’s ban order on TikTok. U.S. District Judge granted a preliminary injunction against the ban on new downloads of the video-sharing network, which would have gone into effect at 11:59 p.m. in Washington. TikTok’s owner, ByteDance Ltd. applied for the hold after President Trump ordered the app ban despite of the company sold a stake in its U.S. operations to a domestic buyer. The ban would have removed TikTok from app stores run by Apple and Google. People who don’t yet have the app wouldn’t have been able to get it, and those who already have it wouldn’t have access to updates needed to ensure its safe and smooth operation. TikTok has been downloaded by more than 100 million ...

China’s largest pet-focused platform Boqii launches IPO in US

25Sep By PriyankaNo Comments

Market

China’s largest pet-focused platform Boqii launches IPO in US

SHENZHEN, China, Sept. 25, 2020-- China's largest pet-focused platform Boqii (BQ.US) launched an initial public offering (IPO) of $77 million in the US. With the IPO, Boqii plans to offer 7 million shares for USD $10-$12 each. Boqii will become the first US-listed company in the Chinese pet industry. According to data from US-based business consulting firm Frost & Sullivan, Boqii is the largest pet-focused platform in China in terms of revenue and number of customers, the largest pet-focused online community in the country in terms of registered users, and the largest pet-focused online retailer in the country in terms of gross merchandise value (GMV). Boqii was established in Shanghai in 2008 as a community designed to provide a vertically integrated social platform for pet owne...

Roommatch- The Perfect Place to find Roommate and Room in US

23Sep By PriyankaNo Comments

Story

Roommatch- The Perfect Place to find Roommate and Room in US

Los Angeles, CA, Sept 23rd, 2020: With every single thing going online these days, how would you feel if we say you can even find roommates for yourself on the internet while getting great potential matches? Let's face it, finding the right roommate is a big deal in US. And all kinds of important factors have to be kept in mind when you're looking for someone to share a home with including rent cost. After all, if you can find dating partners on a designated website, why not try to find a roommate through one too? Thankfully, the existence of roommatch website can help you find the perfect or at least close enough roommate in US cities. The platform was launched on 1 November 2011, with the objective of making the finest room and roommate finder. The website hel...

15Sep By PriyankaNo Comments

CHINA

Tencent to Dominate China’s eSports Market Following $10 Billion Merger

eSports is one of the fastest-growing markets in the world. The most modern of entertainments, it has turned video gaming into a viewer sport one with a vast global audience. Due to its extensive size and reach, it has lately become a point of interest for tech companies from every corner of the globe. While Amazon-owned Twitch is currently the world’s leading eSports platform, its crown is not secure, and Tencent and its subsidiaries have recently made some major moves to remove Twitch from its leading position most particularly, in Tencent's home country, China. A Lucrative Industry For those who have followed eSports in recent years, it comes as no surprise to discover that this unique form of entertainment has a huge international audience. Especially popular among the you...