News | Pixr8 News

Everyone Please delete Facebook: Whatsapp co-founder Brian Acton

16Mar By NitishNo Comments

News

Everyone Please delete Facebook: Whatsapp co-founder Brian Acton

Attending a panel discussion at Stanford University, Brian Acton, the co-founder of WhatsApp urged people to delete their Facebook accounts. After selling WhatsApp to Facebook for $19 billion in 2014, Acton left Facebook last year when Cambridge data breach controversy happen. Acton said that the smaller companies in Silicon Valley are pressured to chase venture capital and accept large exits to appease employees and stakeholders.“You go back to this Silicon Valley culture and people say, ‘Well, could you have not sold?’ and the answer is no,” Buzzfeed quotes Acton as saying.He also described his decision to accept Facebook’s offer as “rational choice” to go home with “a boatload of money.”“I had 50 employees, and I had to think about them and the money they would make from this ...

Investment Father of Indian Startups “Lee Fixel” is Leaving Tiger Global

15Mar By PriyankaNo Comments

News

Investment Father of Indian Startups “Lee Fixel” is Leaving Tiger Global

Lee Fixel, one of the most famous low flying name of Tiger Global is leaving the company, according to a letter sent to clients on Thursday seen by Reuters. In the letter, it's written that Lee Fixel a partner and head of the $13 billion private equity business at Tiger Global Management LLC, plans to leave the firm on June 30. Scott Shleifer and Chase Coleman will continue as co-portfolio managers of Tiger Global’s private equity business, with Shleifer to take over as its head, according to the letter. Fixel, who joined Tiger Global in 2006, will invest his own money and “may start an investment firm in the future,” Tiger Global wrote in the letter. “We are grateful for Lee’s innumerable contributions,” the letter said. “Lee has been a driving force behind the expansion of T...

Avast CEO to step down; annual results miss expectations

14Mar By reutersNo Comments

News

Avast CEO to step down; annual results miss expectations

Cyber security firm Avast’s long-time chief executive officer is stepping down, the company said on Wednesday as it reported marginally lower-than-expected adjusted revenue and earnings in its first annual results since listing in May. Avast said Vince Steckler plans to retire in 2019 after 10 years in the top job and will be succeeded by Ondrej Vlcek, currently president of the company’s consumer business. Steckler, widely considered to be the architect of Avast, led the company through the major acquisition of AVG and its listing on the London Stock Exchange. He is credited with having grown the company’s revenues from under $20 million to over $800 million. He will step down on June 30 but will remain available in an advisory capacity for another year. Vlcek, who started at...

12Mar By NitishNo Comments

News

Google paid $15 Million to Amit Singhal on Sexual Harassment Case

World's leading search engine giant Google has paid total $105 million to two of his executives accused of sexual harassment. The news was first reported by wall street journal. The suit mentioned that the Board of Google-approved $105 million exit offer to Rubin and Amit Singhal. The suit describe how Singhal “was allowed to quietly resign at Google in 2016 in the wake of credible allegations of sexual harassment, and was paid millions in severance.” The filed suit was also revealed that Google agreed to pay $45 million to Singhal, but ended up paying just $15 million because he went to work for a competitor. Google initially agreed to pay Singhal annual cash payments of $15 million, to be paid 12 months and then 24 months after his exit. Google offered an additional maximum of...

Ola, Hyundai in talks for $300 million fund infusion

9Mar By Press Trust of IndiaNo Comments

News

Ola, Hyundai in talks for $300 million fund infusion

NEW DELHI: Ola is in talks with Hyundai Motor Company for investing about USD 300 million in the cab-hailing platform, according to sources. The discussions are at an advanced stage and a deal could be closed in the next few weeks, sources said. If the deal goes through, it would be Hyundai's second investment in the Indian startup ecosystem. Previously, it had led a ₹100-crore funding round in car rental startup Revv. Ola did not respond to an e-mailed query on the development. A Hyundai Motors India spokesperson said the company is "open to cooperation with various potential partners but it is our policy not to comment on market speculation and rumours". The fresh funding will give the Bengaluru-based company more ammunition to compete with rival Uber in I...

Spotify Register 1 million users in India in less than a week launch

6Mar By PriyankaNo Comments

News

Spotify Register 1 million users in India in less than a week launch

World’s leading paid music streaming service Spotify register more than 1 million unique users in India across its free and premium tiers in less than a week launch. As we mentioned that Spotify launched in India on Tuesday, stepping into a price-sensitive market crowded by well-funded players such as Reliance Industries’ JioSaavn and Apple’s Apple Music. The Swedish company is offering a free version that will run with ads, alongside a premium ad-free variant that will charge users 119 Indian rupees ($1.68) per month. India, with a population of 1.3 billion and more than 400 million smartphone users, is a potentially huge market for the Swedish company. According to media reports, Tencent-backed Gaana leads the Indian streaming market with over 80 million monthly users. Sp...

Tesla Closing its Retail Stores, Focus on Online Sales Only

3Mar By PriyankaNo Comments

News

Tesla Closing its Retail Stores, Focus on Online Sales Only

World's leading electric automobile maker Tesla said it was closing "many" of its 378 retail stores around the world as it shifts to an online-only sales model. The decision was surprised many of them including Tesla's Fan. The announcement came after another round of layoffs at the electric automaker like affected some 7% of its workforce in January in a bid to cut costs following its production ramp for the Model 3. Tesla did not respond to questions from Pixr8 News on how many stores will be closing. "Shifting all sales online, combined with other ongoing cost efficiencies, will enable us to lower all vehicle prices by about 6% on average, allowing us to achieve the $35,000 Model 3 price point earlier than we expected," the company said in a blog post. "Over the next few mo...

2Mar By AdityaNo Comments

News

Droom Set to Hire 500 Employees in 2019

India's online car&bike selling company Droom is looking to hire as many as 500 employees in 2019. One of the leading car&bike selling platforms in India, Droom has registered strong growth numbers while aggressively marketing its brand to users across the country. Now, the company hopes to take next stride with its latest hiring announcement. It aims for expansion and diversification journey, evolving newer and more evolved products as well as services. The hiring will be done from senior to middle level positions and across multiple domains such as AI, Product, ECO and Droom Credit. It is looking to hire its owned and operated fleet of ECO Technicians named ECO Ninjas. They will provide vehicle inspection services at door step. Droom aims to reach 1000+ inspections per day...

2Mar By AdityaNo Comments

News

WeWork Fired 300 Employees

The giant co-working space company WeWork which now known as the We Company fired 300 employees which are 3% of its total staff, as per the report by TechCrunch. Head office based in New York, WeWork raises total $8 billion funding and valued at a whopping $47 billion. SoftBank Vision Fund is the largest shareholder in the company, invested $2 billion in January. The company employs 10,000 people around the world. As per the sources, the reason behind the layoffs was performance and the company’s routine process of shedding underperformers. Most of the layoffs happen in WeWork’s engineering team, product and user experience design. “Over the past nine years, WeWork has grown into one of the largest global physical networks thanks to the hard work and dedication of our team,” ...

Ola raises 292 Crore For its Electric Segment

1Mar By AdityaNo Comments

News

Ola raises 292 Crore For its Electric Segment

India's leading cab booking platform Ola electric raises Rs 292 crore from global investment firms Tiger Global Management, Matrix Partners, and Sarin Family India LLC (family office of ex-Vodafone chief executive officer Arun Sarin), according to a regulatory filing by the company. This is the first time Ola EV raises independent funding. Ola Electric Mobility has issued and allotted “1993 Series A compulsory convertible preference shares of face value of Rs 10 each of the company, at an issue price of Rs 14,61,523,” to the above investors. As per the sources, the company will raise a total of Rs 400 crore in this round led by the same set of investors. Ola recently announced to bring 1 million EV on road and plan to place 10,000 e-rickshaws and e-autorickshaws in its service w...

28Feb By AdityaNo Comments

News

Spotify Enter into Indian Market

World’s leading music streaming service Spotify launched in India. After many delays, Spotify finally stepping into a price-sensitive market like India to compete against local players like JioSaavn and Apple Music. Based in Sweden, Spotify will offer a free version of the streaming app that will run with ads, alongside a premium ad-free version that will charge users 119 Indian rupees ($1.67) per month. However, the same plans in the United States start at $9.99, $11.37 in France and $13.30 in the United Kingdom. Indian users can also opt for Spotify Premium for a day for 18 cents. With more than 400 million smartphone users, the market is potentially huge. Spotify India’s Managing Director Amarjit Singh Batra said there are interesting local challenges in India that the company...

26Feb By PriyankaNo Comments

News

OLX Cash My Car launched its 50th store

New Delhi: Naspers-owned OLX Cash My Car, today announced the opening of its 50thstore in Bandra, Mumbai a milestone for the brand’s strategic expansion plans in India. OLX Cash My Car has continued to expand its footprint aggressively with presence across 10 key cities in India, since its launch in August 2018. During the last month itself, OLX Cash My Car clocked around a couple of thousand transactions from its existing network of stores, underlying the strength of its reach and customer base. In keeping with the company’s ethos of building scale, OLX Cash My Car plans to expand its operations to have 150 pre-owned car stores by end of 2021 spread across 40 Indian cities. Today, the 50 OLX Cash My Car stores are operational in 10 cities - New Delhi, Gurgaon, Faridabad, Noida, Ghaziab...