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Snapdeal delivers ‘fake’ products; company founders booked

26Jul By AnkitaNo Comments

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Snapdeal delivers ‘fake’ products; company founders booked

The police here have registered a case against Snapdeal founders Kunal Bahl and Rohit Bansal after a local Congress leader alleged that the online shopping site sent him fake products. They were booked for cheating under section 420 of the Indian Penal Code after businessman Indermohan Singh Honey complained that instead of a Woodland belt and a wallet, he was delivered fakes. Singh had acted as a spokesperson of the party during the recent Lok Sabha election campaign. He placed the order on July 17, paying online for it, police said. In a complaint lodged at the city's Gumanpura police station, the businessman said he suspected the genuineness of the products delivered at his home, and took them to a Woodland showroom. The staff there examined the products and said they wer...

Facebook agrees to pay $5 billion Penalty for privacy violations

25Jul By AnkitaNo Comments

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Facebook agrees to pay $5 billion Penalty for privacy violations

Social media platform Facebook has agreed to pay a whopping $5 billion to the Federal Trade Commission as a penalty for sharing details of its users to the third party, in the largest-ever security fine imposed on any company for disregarding consumer information. In addition to paying the record USD 5 billion in penalty, Facebook has also agreed to submit itself to new restrictions and a modified corporate structure that will hold the company accountable for the decisions it makes about its users' privacy. Facebook agreed to all this in order to settle Federal Trade Commission (FTC) charges that the company violated a 2012 FTC order by deceiving users about their ability to control the privacy of their personal information. "Among other matters, our settlement with the FTC requir...

PayPal launches Xoom international money transfer service in UK

24Jul By PriyankaNo Comments

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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. Payp...

Startupbootcamp Australia Travels to New Delhi to Scout for 2020 EnergyAustralia Program

23Jul By AdityaNo Comments

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Startupbootcamp Australia Travels to New Delhi to Scout for 2020 EnergyAustralia Program

Startupbootcamp is a world-leading accelerator that scouts innovative and top-tier startups that are looking to disrupt the current industry status quo with diverse solutions. During the intense 3-month accelerator program, the selected startups receive hands-on mentorship from over 100 industry experts, free office space, seed funding, and access to a global network of investors with the ultimate goal of scaling their businesses and becoming industry-leading companies. In the past two years, Startupbootcamp Australia has supported 21 startups from all over the world. Alumni from the last two programs have achieved massive success by leveraging the mentorship from the FastTracks and Programs. Some notable alumni mentions include the following, FOHAT conducted a microgrid as...

Bitcoin use causing 22 megatonnes CO2 emissions

19Jul By AdityaNo Comments

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Bitcoin use causing 22 megatonnes CO2 emissions

The use of Bitcoin leads to about 22 megatonnes in CO2 emissions annually, comparable to the total emissions of cities such as Hamburg or Las Vegas, according to the most detailed analysis to date of the cryptocurrency's carbon footprint. Researchers at the Technical University of Munich (TUM) in Germany analysed such data as the IPO filings of hardware manufacturers and the IP addresses of Bitcoin "miners." The study, published in the journal Joule, was able to localise 68 percent of the Bitcoin network computing power in Asian countries, 17 percent in European countries, and 15 percent in North America. Although Bitcoin is a virtual currency, the energy consumption associated with its use is very real. For a Bitcoin transfer to be executed and validated, a mathematical puzzle ...

19Jul By NitishNo Comments

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ShopClues Lays off 200 people

E-commerce platform ShopClues has laid off about 200 employees as it struggles to rein in costs in the hyper-competitive online shopping segment in India. According to sources, ShopClues has sacked about 200 people as its efforts to find a buyer failed. When contacted, a ShopClues spokesperson said the company has been steadily reducing its workforce mostly in operating functions as it leverages gains from technology. "We have always been an employee first company and have ensured that impacted employees, if any, are outplaced proactively," it added. Recently, ShopClues was in talks with larger rival Snapdeal for a potential acquisition. However, after weeks of due diligence, Snapdeal decided against the acquisition as there are concerns regarding some of the findings emergi...

HubSpot Launch Free Email Marketing Tools for Startups

16Jul By Ankita SinghNo Comments

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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 mark...

Be careful! Google workers listening Your Voice recorded on Google Home

12Jul By PriyankaNo Comments

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Be careful! Google workers listening Your Voice recorded on Google Home

Online search giant Google admits its employee and contractors regularly listen and review some recordings of what people say to its artificial-intelligence system Google Assistant, via their phone or through smart speakers such as the Google Home. In the latest report, Company acknowledged that its employees can access those recordings after some of its Dutch language audio snippets were leaked. Google product manager David Monsees acknowledged the leak in a blog post and said the company is investigating the breach."We are conducting a full review of our safeguards in this space to prevent misconduct like this from happening again," he wrote.More than 1,000 recordings were obtained by Belgian broadcaster VRT NWS, which noted in a story that some contained sensitive personal conver...

India’s listed E-commerce Infibeam Seeking Govt Nod to remove its Joint Auditor

12Jul By NitishNo Comments

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India’s listed E-commerce Infibeam Seeking Govt Nod to remove its Joint Auditor

Indian E-commerce company Infibeam Avenues will seek shareholder approval for the removal of EY-affiliate S.R.B.C & Co. LLP as one of its joint statutory auditors through a special resolution, in compliance with the order from the Corporate Affairs Ministry. In May, Infibeam had said its board has recommended termination of S.R.B.C & Co. LLP's (Auditor) services as one of the joint statutory auditors on grounds of alleged sharing of unpublished price-sensitive information (UPSI) a charge that S.R.B.C. had refuted. Last month, the e-commerce company had informed that its proposal had been approved by the Corporate Affairs Ministry. "As per the order, the Regional Director has instructed the company to re-obtain the approval of shareholders within the prescribed time limit ...

Airbnb India Hosts Earned $28 million in 2018

9Jul By AdityaNo Comments

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Airbnb India Hosts Earned $28 million in 2018

Airbnb hosts collectively earned almost $28 million (over ₹190 crore) and welcomed approximately 800,000 guests in 2018, the company said to Pixr8 News. Airbnb had an estimated direct economic impact of around $150 million (over ₹1,035 crore) in India in 2018. Guests in India, on an average spent $61 on a daily basis with total estimated guest spends for the year at around 120 million, it added. At a global level, Airbnb's host and guest community generated over $100 billion in estimated direct economic impact across 30 countries in 2018, Airbnb said. "Our people-powered community thrives on the success of both stakeholders," Airbnb India Country Manager Amanpreet Bajaj said. "While we strive to give travelers truly unique, tailored travel experience...

Amazon founder Bezos finalizes divorce with $38 bn settlement

6Jul By PriyankaNo Comments

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Amazon founder Bezos finalizes divorce with $38 bn settlement

Amazon founder Jeff Bezos and MacKenzie Bezos finalized their divorce Friday to the tune of a USD 38-billion settlement. Under the agreement, MacKenzie Bezos, 49, will receive approximately 19.7 million Amazon.com shares, giving her a four percent stake in the company valued at USD 38.3 billion, and landing her richest woman in the world. Jeff Bezos, 55, will retain a 12 percent stake and remain the world's richest man. MacKenzie Bezos has said that she would give all of her stake in The Washington Post and the space exploration firm Blue Origin to her husband as well as voting control of her remaining Amazon stock. She has also promised to donate half her fortune to charity, joining the ranks of the world's ultra-wealthy philanthropists as a signatory of the Giving Pledge. ...

Grofers Convert 200 stores into its branded outlets

1Jul By AnkitaNo Comments

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Grofers Convert 200 stores into its branded outlets

NEW DELHI: Online grocery platform Grofers is working on converting about 200 brick-and-mortar stores into its own branded outlets over the next few months as it looks to expand its business and push its private label of products. The SoftBank-backed company has been working on the business model for the past few months and has already converted about 100 such 'kirana' outlets. "We have converted several grocery stores into our own branded offline stores, around 100 kirana stores in Delhi-NCR have been a part of this effort that started somewhere in November last year. Our target is to have 200 such stores in the coming few months," Grofers Vice-President and Head (Offline Business) Yeshu Bansal told Pixr8 News. Grofers is also keen on expanding this network to southern markets su...