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Coworking Firm WeWork to Double its Space in India

21Dec By Gauri SinghNo Comments

BUSINESS

Coworking Firm WeWork to Double its Space in India

The provider of coworking workplace We Work is planning to double the coworking space it offers in India to 6 million square feet in 2019. The company is expecting to expand its presence to cities including Chennai, Pune and Hyderabad by the end of next year. The New York-headquartered collaborative workspace firm currently operates 3 million sq ft office space across Bengaluru, Mumbai and Gurgaon. “In India, WeWork started the year with over 5,000 desks and is closing it with 35,000 desks across 21 locations. With a member base of 20,000 in India, we are selling 2,000 desks a month,” said Karan Virwani Karan, chief We-Work executive officer, WeWork India. It was in late 2016 that the company made a foray into the country through a joint venture with Bengaluru-based real estate de...

Starbucks to Add Delivery Services to more than 2,000 Stores Through Uber Eats

15Dec By Gauri SinghNo Comments

News

Starbucks to Add Delivery Services to more than 2,000 Stores Through Uber Eats

The most popular coffee store Starbucks is expanding its partnership with Uber Eats to more than 2,000 stores in the United States next year, about a quarter of all of the company’s locations in the country. Starbucks first launched its program, Starbuck Delivers, as a pilot in September, serving people in Miami and Tokyo. Its coffee delivery roots actually began in China through a partnership with Alibaba and on-demand food delivery service Ele.me. The company also piloted a delivery service through two supermarkets in Shanghai and Hangzhou. It’s an experiment that appears to have had some success. Starbucks Delivers has reached 2,000 stores across 30 cities in China since launching three months ago, the company said at its investor conference Thursday.Now it’s taking what it learne...

Coworking Firm 91springboard to Expand its Capacity Six fold to 1.5 lakh Desks

10Dec By Gauri SinghNo Comments

BUSINESS

Coworking Firm 91springboard to Expand its Capacity Six fold to 1.5 lakh Desks

Coworkingspace company called 91springboard is planning to expand its capacity six-fold to 1,50,000 desks in three years from the end of this financial year. The company would openfacilities in more Indian cities. “Currently, we have 20 operational centres and are on track to reach 12,500 desks by the end of thisyear and then 20,000-25,000 desks by March-April 2019. We aim to get 150,000desks by March 2022,” said Varun Chawla, cofounder of 91springboard. It was mentioned that thefirm lately secured funds amounting to $10.2 million from Singapore-basedmarketing technology company FreakOut. The company currently has centres in NewDelhi, Gurugram, Noida, Hyderabad, Bengaluru, Mumbai, Navi Mumbai, Pune andGoa. “We will be expanding in these cities and following this, next round of cit...

Shanghai Set to Expand High-tech Enterprise Population

23Nov By Gauri SinghNo Comments

CHINA

Shanghai Set to Expand High-tech Enterprise Population

Shanghai is set to increase its population of high-tech enterprises to 15,000 by 2020, according to a guideline released by the municipal government. The guideline also states that these enterprises would achieve a combined annual revenue of more than 3 trillion yuan ($432.94billion) and profits of 280 billion yuan by 2020. The high-tech sector, which has become an important engine in the city's development, is growing rapidly in Shanghai, said Zhang Quan, the director of Shanghai Municipal Science and Technology Commission. The city is presently home to around 9,200 high-tech enterprises, more than 80 percent of which are privately owned. In 2017, these companies applied a total of 28,539 invention patents, an 18.56 percent increase compared with the previous year, and their tota...

Google Neighbourly App to Launch in Other Indian Cities

21Nov By Gauri SinghNo Comments

Tech

Google Neighbourly App to Launch in Other Indian Cities

An Indian app that was created by Google known as Google Neighbourly which comes from the company's ambitious Next Billion Users team is now launching in other parts of India as well. The app was originally launched in Mumbai back in May and is aimed to offer a platform to help people source local information from their neighbours. While its debut was limited to Mumbai and Jaipur, the Neighbourly app reached Ahmedabad, Coimbatore, Kota, Mysore, and Vizag in September. It is touted to have over 1.5 million downloads and half a million people on its waitlist. The Neighbourly app is now rolling out nationally starting with Bengaluru and Delhi that both topped the waitlist. Google is also in plans to add more cities on a daily basis and bring the app to Chennai, Hyderabad, Pune...

General Motor’s Cruise is Pumped up to Expand in Seattle

20Nov By Gauri SinghNo Comments

USA

General Motor’s Cruise is Pumped up to Expand in Seattle

The self driving company Cruise that was acquired by General Motors in 2016 is reportedly expanding and growing to Seattle as the company seeks more engineering talent to develop its technology. However, Cruise does not have any plans right now to test its autonomous vehicles in the city. The company is planning to set up offices in Seattle to attract and hire between 100 to 200 engineers by the end of 2019. “To continue growing a team that is diverse and rich in talent, we feel that it’s important to explore talent pools outside of the Bay Area, and Seattle’s vibrant tech community and proximity to our headquarters in San Francisco make it a logical choice,” CEO Kyle Vogt said. Cruise is looking towards and considering a number of locations in the Seattle area. There are no plans to ...

Xiaomi to Open a Retail Store in London Amid Expansion Spree

10Nov By Gauri SinghNo Comments

News

Xiaomi to Open a Retail Store in London Amid Expansion Spree

Xiaomi has become one of the most popular smartphone brands in the world and with its expansion spree, the company continues at speed up after it announced plans to open its first retail store in London. The Chinese smartphone maker is popularly known for developing quality Android phones at affordable prices and already it has launched devices in Spain, Italy and France. The foray has now touched the UK where Xiaomi launched its Mi 8 Pro device at an event yesterday and revealed that it will open a store at the Westfield mall in London. Now, this outlet would become Xiaomi’s first authorized Mi Store. Styled on Apple’s iconic stores, the Mi store will showcase a range of products, not all of which are available in the UK. Xiaomi has also shown a taste of what the company is plann...

KPMG to Expand India Front by Hiring Around 9,000 employees

5Nov By Gauri SinghNo Comments

BUSINESS

KPMG to Expand India Front by Hiring Around 9,000 employees

The management consulting team of KPMG is working on hiring nearly 8,000-9,000 people in India. Following these appointments, a tenth of them to be deployed on projects overseas, as they see global clients increasingly demand from one of the big four audit firms to implement solutions and demonstrate results for the strategy guidance it gives them. Traditionally, consulting and advisory firms have looked at global companies and helped them draw strategy to either cut costs or improve business, most often using technology. One of the senior executives stated that the plan implementation is often done by their client employees or third party vendors based on these strategies. This is changing and the consulting firms are expected to deliver results, often pegging their fees to outcomes...

Elon Musk Plans to Bring Tesla Partially in India Next Year

5Nov By Gauri SinghNo Comments

BUSINESS

Elon Musk Plans to Bring Tesla Partially in India Next Year

Tesla Motors' Chief Executive Officer (CEO), Elon Musk, has revealed the company's plans of expanding its overall market beyond North America, Europe, and China. The owner of the largest EV company stated that he recently asked his service team to expand to all population regions (not just major metros) in North America, Eastern Europe, China, and Japan by the end of next year. Any plans to make service outside Tesla serviced countries easier? — Anner J. Bonilla???️?? (@annerajb) November 2, 2018 The 47-year-old opened up about his firm's expansion plans after a user responded to a tweet in which Musk had revealed that Tesla and Panasonic are together the largest producer of batteries for electric vehicles in the world. In a follow-up tweet, Musk said the fir...

China’s Bike Company Youon Expands to Europe to Cut Competition

1Nov By Gauri SinghNo Comments

Automobile

China’s Bike Company Youon Expands to Europe to Cut Competition

A lesser-known China’s bike company Youon is reportedly expanding to Europe as its rival Ofo has applied the brakes to its global expansion strategy in recent months. The company has formed a joint venture with UK-based bike-sharing startup Cycle.land which will enable Youon to sit back in its headquarters in eastern China while its British partner deploys its bikes and takes care of on-the-ground operation. The fleet of the company’s 1,000 public bikes will start appearing in London next March. This move will make the UK the fourth country in its international expansion after Russia, India, and Malaysia. “User behavior in Europe and North America is very different and it will be reckless for a [Chinese] firm to abruptly set up its own operations overseas,” Sun Naiyue, an analyst at...

31Oct By Gauri SinghNo Comments

FUNDING

Financial Research Firm Sentieo Raises $19 Million in Series A Funding

Financial research platform Sentieo that is based in San Francisco and Delhi has secured funds amounting to $19 million (about Rs 140 crore) in its Series A round of equity funding. This particular funding round was led by growth equity firm Centana Growth Partners. Along with this, the three-year-old company counts a host of leading corporate executives and investment managers among its backers. The company’s existing investors also participated in this round. “We are incredibly excited to join them as they grow into a major player in the financial research technology industry, a market that is long overdue for the kind of innovation that Sentieo is providing,” Eric Byunn, partner at Centana Growth partners said. The company is planning to use the funds so raised to expand global gro...

Singapore-based AnyMind Raises $13.4 Million for Expansion

29Oct By Gauri SinghNo Comments

FUNDING

Singapore-based AnyMind Raises $13.4 Million for Expansion

A Singapore-based AI company AnyMind Group has secured funds amounting to $13.4 million in a funding round. This round was led by Line, the Japanese messaging app firm, and Mirai Creation Fund, which is backed by Toyota among others. The company that uses AI in online advertising, HR and marketing is planning to use these funds for its growth in Japan and other Asian markets. Other backers such as JAFCO and Dream Incubator also took part in this round. AnyMind uses AI to offer ad solutions to publishers and advertisers and also to its newer businesses TalentMind (HR) and CastingAsia, influencer marketing. Founded in April 2016 by Kosuke Sogo and Otohiko Kozutsumi the company claims to be profitable since early 2017. It said total revenue for 2017 was $26 million, up from $12.9 millio...