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Stripe Acquire Paystack for $200+ Million to Enter into Africa Region

15Oct By Ankita SinghNo Comments

ACQUISITION

Stripe Acquire Paystack for $200+ Million to Enter into Africa Region

Nigeria, 15th Oct 2020: US-based online paymnet firm Stripe acquire Nigeria based payments firm Paystack for more than $200 million to enter into africa region. Earlier in 2018, Stripe invested $8 million in a Series A funding round for Paystack. With this acquisition Stripe will control more than half of online payments in Nigeria. Also, Paystack has already started a pilot with businesses in South Africa. Like Stripe, Paystack is a technology company powering growth for businesses in Africa through the API process in the payment system.More than 60,000 businesses in Nigeria and Ghana use Paystack to collect online and offline payments. The team has developed APIs enabling developers to create online custom checkout experiences, build automated recurring billing systems, instant...

Amazon worker at New York warehouse dies of COVID-19

6May By Ankita SinghNo Comments

News

Amazon worker at New York warehouse dies of COVID-19

An Amazon worker at a warehouse in New York where employees called for greater coronavirus safety measures has died of COVID-19, the e-commerce giant said on Tuesday. "We are deeply saddened by the loss of an associate at our site in Staten Island, NY," Amazon spokesperson Lisa Levandowski said in a statement emailed to AFP. "His family and loved ones are in our thoughts, and we are supporting his fellow colleagues," she added. Amazon has become a lifeline for consumers facing lockdowns and restrictions around the world, and the company is in the process of adding some 175,000 new employees to cope with the surging demand. But the company has also faced protests from warehouse workers and activists who claim Amazon has failed to do enough to keep them safe. More than a doze...

Tech Mahindra Acquire 65% Stake of US Design Firm For $70 mn

13Aug By Ankita SinghNo Comments

ACQUISITION

Tech Mahindra Acquire 65% Stake of US Design Firm For $70 mn

Indian IT company Tech Mahindra will pay USD 70 million (about Rs 490 crore) to acquire 65 percent stake in US-based strategic design consultancy firm Mad*Pow. "We are buying 65 percent upfront and for that 65 percent we are paying about USD 70 million and the balance 35 percent will be acquired subsequently from the management team and the founders...," Vivek Agarwal, head for corporate development & BFSI at Tech Mahindra Limited, said in a call with analysts. The company announced plans to acquire Mad*Pow on July 30. Tech Mahindra MD and CEO CP Gurnani said Mad*Pow is a 70-people strong organisation with capability in customer experience, human center design and understanding of behavioral science which will give Tech Mahindra a significant edge in digital transformation pr...

HubSpot Launch Free Email Marketing Tools for Startups

16Jul By Ankita SinghNo Comments

News

HubSpot Launch Free Email Marketing Tools for Startups

CAMBRIDGE, Mass., July 16, 2019- HubSpot, a digital analytics growth platform now offers free email creation, sending, and analytics as part of the free HubSpot CRM. Growing businesses often suffer from app overload according to a report from HubSpot Research, 82% of respondents indicated that they lose up to an hour a day logging into and managing disparate systems. That lost time can be particularly damaging to a growing business that's working with small teams and limited budgets. By bringing email and advertising tools into the free CRM, HubSpot is giving users the ability to manage those essential features in one connected system, saving them precious time and providing insight into the entire customer experience. "Over the past decade, there has been an explosion of email mar...

8Jul By Ankita SinghNo Comments

FUNDING

Board Infinity raises $320k funding from Angel Investors

New Delhi, 8th July 2019: Board Infinity, an Ed-Tech Startup raises $320k (Rs 2.2 crores) in an angel funding from a group of angel investors. Founded in 2017 by Abhay Gupta and Sumesh Nair, Board Infinity provides short skilling courses delivered by industry experts in live classes format across emerging technologies, management roles. The startup will use the funds to improving the technology platform and expand its current learner base in Tier 2-3 cities. Angel investors who invested in Board Infinity includes Mr. Ambarish Raghuvanshi Ex-CFO of Infoedge; Maheshwer Peri - Founder of Careers360; Vishal Soni & Ritu Soni - Founders of a Health & Wellness startup; Manish Gupta, Founder of UINCEPT- EdTech accelerator; Nirmal Singh, MD of Atraxn Ventures and founder of Wheebox ; ...

Pine Labs acquires Qwikcilver for $110 Million

23Mar By Ankita SinghNo Comments

ACQUISITION

Pine Labs acquires Qwikcilver for $110 Million

Payment and gift card technology firm Pine Labs to acquire its peer firm Qwikcilver for USD 110 million. The transaction has been funded from the company's cash reserves and additional funding from existing investors, it added. "According to market estimates, gift, as a category, is growing at a high double-digit rate annually. Qwikcilver's technology and market expertise will help us scale up this business and we are delighted to welcome it into Pine Labs," said Vicky Bindra, chief executive officer, Pine Labs. Qwikcilver, which was founded in 2006, offers nine out of every 10 gift cards in the country and manages an annualised gross transaction value of USD 1.5 billion across India, Middle East and South East Asia. Pine Labs started its own gift solutions business - Pine Per...

8Feb By Ankita SinghNo Comments

FUNDING

Real Estate Startup Propstack Secured Funding from PE Professionals

Mumbai based real estate intelligence provider Propstack Services Pvt Ltd has received funding in a latest round from high profile private equity and hedge fund professionals. The investments are reportedly made in a personal capacity, however, the amount of funding was not disclosed. The funding will be utilized to accelerate the adoption and development of Propstack platform with the help of industry experts. The investor board of Propstack now includes S Sriniwasan, MD of Kotak Investment Advisors, Shanti Ekambaram, president-consumer banking Kotak Mahindra Bank’s, Ashish Khandelia, KKR Director, and US-based Rohatyn Group’s managing director TS Sivashankar. Founded back in 2013, by Raja Seetharaman, Shubhankar Dongre and Sandeep Reddy, the startup provides information on comme...

Yatra Revenue Increased by 40.8%, INR 3,360.4 Million in FY17

31Jan By Ankita SinghNo Comments

ANALYSIS

Yatra Revenue Increased by 40.8%, INR 3,360.4 Million in FY17

Yatra, India's leading online travel company, today announced its unaudited financial and operating results for three months ended December 31, 2017. As per the results, yatra delivered good quarter of results with revenue less service cost growth at 45.6% year-over-year. Our multi-channel approach and the resultant symbiotic relationship between our corporate and consumer direct businesses continues to deliver well for us. We have taken great strides on our technology platform for both our retail and corporate customers. This is an exciting time for Yatra, as we believe the combination of strong economic growth and consumer demand at the macro level and our own unique approach at the company level will help us maintain a strong growth rate over the longer term. Dhruv Shringi, Co-fo...

18Jan By Ankita SinghNo Comments

ACQUISITION

Grab Announces Acquisition of Bangalore Based Payments Startup

Grab, the leading on-demand transportation and mobile payments platform in Southeast Asia, today announced it has acquired Bangalore-based payments startup iKaaz. The rich functionality of iKaaz’ mobile payments platform and its experienced leadership team will accelerate feature development and partner integration of GrabPay, Grab’s payments platform. Already Southeast Asia’s #1 ride-hailing platform, Grab is expanding across all markets in Southeast Asia in 2018 with the goal of becoming the region’s universal payments platform. Launched in 2014, iKaaz’ technology was built to work in India’s challenging internet conditions and enable effortless and fast payments for thousands of merchants. ikaaz’ technology stack encompasses a range of innovations, such as NFC, QR-code, audio-based p...

Secure & Un-hackable Computer Network is Close to Reality

15Jan By Ankita SinghNo Comments

Tech

Secure & Un-hackable Computer Network is Close to Reality

Scientists have developed a method of securely communicating between multiple quantum devices, bringing a large-scale, un-hackable network closer to reality. To date, communicating via quantum networks has only been possible between two devices of known provenance that have been built securely. "We're in a technology arms race of sorts. When quantum computers are fully developed, they will break much of today's encryption whose security is only based on mathematical assumptions," said Ciaran Lee, from University College London in the UK. "To pre-emptively solve this, we are working on new ways of communicating through large networks that don't rely on assumptions, but instead use the quantum laws of physics to ensure security, which would need to be broken to hack the encryption,"...

6Sep By Ankita SinghNo Comments

FUNDING

Travel Booking Startup GoFro Raises $10 Mn Funding In Series B Round

Delhi-based travel booking startup GoFro, has recently raised $10 million in a Series B round led by Japanese travel company HIS Co. Ltd. The round also saw participation from its existing investor MakeMyTrip. The company will be utilizing its funds to strengthen its technology platform, supply and agent network and expand into international markets. “Support of HIS and MakeMyTrip is a validation of the potential of GoFro’s marketplace platform. We now look forward to HIS’s global reach and experience to help us enhance our global supply network and provide great holiday packages at competitive prices,” said Amitabh Misra, founder and chief executive, GoFro. GoFro is a three-way online marketplace for holiday packages connecting travellers with suppliers and destination experts. The c...

Snapdeal Walks Away From Merger Deal With Flipkart

31Jul By Ankita SinghNo Comments

News

Snapdeal Walks Away From Merger Deal With Flipkart

Jasper Infotech Pvt Ltd owned online marketplace Snapdeal has walked away from talks to sell itself to Flipkart and now looks to try and survive as an independent entity. The online marketplace will try and survive by selling assets and cutting operational costs. (more…)