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Intel launches 11th Gen Intel Core Processors

3Sep By PriyankaNo Comments

Tech

Intel launches 11th Gen Intel Core Processors

SANTA CLARA, Calif.-- Intel launches nine new 11th Gen Intel Core processors with Intel Iris Xe graphics (code-named “Tiger Lake”) on Sept. 2, 2020. Intel said that they are the world’s best processors for thin-and-light laptops with unmatched capabilities for real-world productivity, collaboration, creation, gaming, and entertainment across Windows and ChromeOS-based laptops. Leveraging Intel’s new SuperFin process technology, 11th Gen Intel Core processors optimize power efficiency with leading performance and responsiveness while running at significantly higher frequencies versus prior generations. More than 150 designs based on 11th Gen Intel Core processors are expected from partners including Acer, Asus, Dell, Dynabook, HP, Lenovo, LG, MSI, Razer, Samsung, and others. A ...

Unacademy Raises $150 Million at $1.5 Billion Valuation

3Sep By PriyankaNo Comments

FUNDING

Unacademy Raises $150 Million at $1.5 Billion Valuation

India based Edtech firm Unacademy raises $150 million in funding led by Softbank Vision Fund 2 along with participation from existing investors including Facebook. The fresh fund infusion values Unacademy at $1.5 billion, Unacademy co-founder Gaurav Munjal told Pixr8 News. "Unacademy plans to utilise the funds to launch new products and build a world-class team and organisation. We have recently launched a chess course where Viswanathan Anand (Indian chess grandmaster) gives training. We will innovate and launch programs in several new categories," Munjal said. General Atlantic, Sequoia Capital, Nexus Venture Partners, Facebook, and Blume Ventures also participated in the round, the company said in a statement. Unacademy saw close to three-fold jump in its valuation in the late...

Delivery Hero acquires MENA based Online Grocery Marketplace InstaShop

1Sep By PriyankaNo Comments

ACQUISITION

Delivery Hero acquires MENA based Online Grocery Marketplace InstaShop

Berlin, 1st Sept 2020 – Delivery Hero announced that it has acquired InstaShop, a leading online grocery marketplace in the Middle East and North Africa region for $360 million. The initial purchase price amounts to approximately USD 270 million and the size of the deferred component to the founding team is dependent on the growth and profitability of the business in the following years. The acquisition of InstaShop marks the next step in Delivery Hero’s quest to pioneer q-commerce, the next generation of e-commerce. InstaShop was launched in June 2015 and is based in Dubai. The company generates approximately USD 300 million GMV on a Q2 2020 annualized basis, up c. 330% year-on-year, and a positive EBITDA margin. With Delivery Hero’s support, the plan is to launch new markets an...

1Sep By PriyankaNo Comments

Market

Rocket Internet to delist itself from stock market

Berlin, 1st Sept 2020: Germany based tech investment firm Rocket Internet plans to delist itself from the Frankfurt and Luxembourg stock exchanges. The company said it has sufficient access to capital outside the stock exchange and can better pursue a long-term approach to investing. Rocket Internet, with a market capitalisation of 2.6 billion euros ($3.12 billion), would be better off going private again since it successfully listed all the major firms it helped found, including Delivery Hero , HelloFresh and Home24 . Listed on stock market in 2014, Rocket’s shares have mostly traded well below their issue price of 42.50 euros and below the combined value of the cash on its balance sheet and its own valuation of its remaining investments. In its latest financial results, publishe...

Walmart joins Microsoft bid to acquire video app TikTok

28Aug By PriyankaNo Comments

News

Walmart joins Microsoft bid to acquire video app TikTok

Washington, Aug 28, 2020: USA based world's largest retail store Walmart set to bid with Microsoft to acquire Chinese owned video app Tiktok. Walmart made a joint acquisition bid with Microsoft to acquire TikTok US business after the US President set the deadline to stop Tiktok operation in the USA. Microsoft provides cloud computing services that help run the retailer's stores and online shopping. The two companies signed a 5-year partnership in 2018, enabling them to join forces against a shared rival, online shopping giant Amazon. Walmart said in a statement that a deal with Microsoft and TikTok could help it expand its advertising business and reach more shoppers. TikTok has gained 100 million US users. But the White House is pushing TikTok's Chinese owner ByteDance to sell...

Amazon Ordered 1,800 Electric Delivery Vans from Mercedes Benz

28Aug By PriyankaNo Comments

Automobile

Amazon Ordered 1,800 Electric Delivery Vans from Mercedes Benz

Berlin, Aug 28, 2020: Amazon bought 1,800 electric delivery vans from Mercedes-Benz, the biggest such order for the German automaker to date. In announcing the order, Mercedes said it would also join a climate initiative established by Amazon founder Jeff Bezos. By signing up to The Climate Pledge, Mercedes-Benz commits itself to going completely carbon neutral by 2039. Scientists say man-made emission of greenhouse gases such as carbon dioxide must end by 2050 at the latest to avoid pushing global temperatures beyond the threshold of 1.5 degrees Celsius (2.7 Fahrenheit) set out in the Paris climate accord. The transport sector, including the surge in deliveries from online retailers like Amazon, is a major source of carbon emissions. “We need continued innovation and partne...

27Aug By PriyankaNo Comments

FUNDING

imocha raises pre-series A funding of $600K

PUNE, India, Aug. 26, 2020-- SaaS-based digital skills assessment startup Interview Mocha has secured $600,000 in pre-series A funding from a group of investors, including Freshworks CEO Girish Mathrubootham.Interview Mocha has remained bootstrapped since its founding in 2015 and has revenues of more than $2 million ARR. The startup was founded by former IBM executives Amit Mishra and Sujit Karpe. Other high-profile investors in the round include former Snapdeal CPO and Facebook Director Anand Chandrasekharan, and Vaibhav Domkundwar, CEO of Better Capital. Girish Mathrubootham, CEO of Freshworks, said, "Amit and Sujit have built a solid team, and a product that customers love. The company is already profitable and has a big addressable market." "Talent leaders of global companies ...

24Aug By PriyankaNo Comments

News

NIIT Technologies Renamed itself, Now known as Coforge

NOIDA, India, Aug. 24, 2020-- NIIT Technologies, a leading global IT solutions and services organization has begun operating under a new name Coforge Limited. This renaming initiative reflects both the evolution of the company as well as its vision for the future. Launched in 1981, the firm has over the last three years charted a very high growth and change trajectory. A focus on very select industries, a detailed understanding of the underlying processes of those industries and partnerships with leading platforms provides Coforge with a distinct vantage. Coforge leverages AI, Cloud, and Insight-driven technologies, allied with industry expertise to transform client businesses into intelligent, high growth enterprises. The organization's 11,000+ Employees are the change drive...

Photography Marketplace Platform Snappr acquires Eversnap

21Aug By PriyankaNo Comments

ACQUISITION

Photography Marketplace Platform Snappr acquires Eversnap

SAN FRANCISCO, Aug. 19, 2020- The top US on-demand photography marketplace, Snappr, has acquired competitor Eversnap. Eversnap was an early entrant to the event photo-sharing space a decade ago, launching the top-rated wedding photo app Wedding Snap in 2012 as a way to allow a wedding to be captured from dozens of perspectives. They rebranded to Eversnap in 2013 and became one of the most popular general group photo sharing apps of the time. Eversnap launched their professional photography services in 2014. At the time of the acquisition it had almost one million users. Snappr was launched in 2016 and has since grown to be the largest on-demand photography platform in the world, including covering over 200 metropolitan areas in the United States. Customers can book an on-demand p...

19Aug By PriyankaNo Comments

BUSINESS

Apple Market Value Reaches at USD 2 Trillion

New York, Aug 19, 2020: Apple is the first US company to boast a market value of $2 trillion, just two years after it became the first to reach $1 trillion. Apple shares have gained nearly 60 per cent this year as the company overcame the shutdown of factories in China that produce the iPhone and the closure of its retail sales amid the coronavirus pandemic. The company's hugely loyal customer base trusts its products so much that they continued to buy iPhones and other devices online while stuck at home. Apple recently reported blowout earnings for the April-June quarter, An upcoming four-for-one stock split that will make Apple's shares more affordable to more investors also sparked a rally after it was announced three weeks ago. Apple has been at the vanguard of a group of ...

Reliance acquires Majority Stake in Netmeds for $83 Million

19Aug By PriyankaNo Comments

ACQUISITION

Reliance acquires Majority Stake in Netmeds for $83 Million

Mumbai, 19th Aug 2020: India's leading oil & telecom company Reliance has acquired a majority equity stake in online pharmacy platform Netmeds for a cash consideration of around $83 million (Rs 620 crore). This investment represents around 60 percent holding in the equity share capital of Vitalic and 100 percent direct equity ownership of its subsidiaries Tresara Health Private Limited, Netmeds Market Place Limited, and Dadha Pharma Distribution Pvt Limited, the press statement said. Vitalic Health and its subsidiaries are collectively known as Netmeds. "This investment is aligned with our commitment to provide digital access for everyone in India. The addition of Netmeds enhances Reliance Retail's ability to provide good quality and affordable health care products and servi...

Eicher Motors acquires Volvo Group India

13Aug By PriyankaNo Comments

Automobile

Eicher Motors acquires Volvo Group India

New Delhi, Aug 13, 2020: Eicher Motors subsidiary VE Commercial Vehicles has entered into a business transfer agreement to acquire Volvo Group India's bus business for a cash consideration of around $13 million (Rs 100.50 crore). VE Commercial Vehicles Ltd (VECV) is in the business of manufacturing and selling the Eicher branded trucks and buses and also distributes Volvo branded trucks and provides aftermarket services and distribution of spare parts for Volvo branded trucks and buses. Apart from being a subsidiary of the company, VCEV is also a joint venture between Eicher Motors and Volvo Truck Corporation, Sweden and Aktiebolaget Volvo (Publ.), Sweden. VECV entered into a business transfer agreement on August 12 with Volvo Group India for acquisition, as a going concern on slu...