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Dropbox Goes For the IPO, Looking to Raise $500 Million

24Feb By NitishNo Comments

News

Dropbox Goes For the IPO, Looking to Raise $500 Million

San-Francisco based file storage startup Dropbox filed for the IPO at US Security exchange. The file sharing platform looking to raise $500 Million through this initial public offering. The company will list as a 'DBX' on Nasdaq. Dropbox known as a file, photo, video sharing platform. Where people can send the large data to others without any interruption. The cloud storage startup competing with tech giants like Google and Amazon. Dropbox 2017 revenue was $1.11 billion comparison to $844.8 million in 2016, total 31% jump. The losses has been less this year to $111.7 million in 2017 from $210.2 million in 2016. The cloud storage platform have 11 Million paying users, in which 50% belong from outside US. Over 180 countries, Dropbox provides its services. From last ...

Bubble Trouble? Bitcoin Tops $11,000, But Fades After Sharp Rally

30Nov By reutersNo Comments

BUSINESS

Bubble Trouble? Bitcoin Tops $11,000, But Fades After Sharp Rally

Bitcoin zoomed past $11,000 to hit a record high for the sixth day in a row on Wednesday after gaining more than $1,000 in just 12 hours, stoking concerns that a rapidly swelling bubble could be set to burst in spectacular fashion. After soaring more than 1,000 percent since the start of the year, bitcoin rose as much as 15 percent on Wednesday, but by mid-afternoon in New York, the virtual currency was trading at $9,500, down 3.7 percent on the day on Luxembourg-based Bitstamp BTC=BTSP, one of the largest and most liquid cryptocurrency exchanges. “As many seasoned traders know all too well, anything that rockets higher, tends to fall down faster when the time comes, and the time will come,” James Hughes, chief market analyst at FX broker AxiTrader, said. Bitcoin topped $10,000...

SAIF Partners Sold Its Entire Shares in Makemytrip, Received 16x Returns Around $400 Million

16Feb By AnkitaNo Comments

News

SAIF Partners Sold Its Entire Shares in Makemytrip, Received 16x Returns Around $400 Million

One of the leading Venture capitalist SAIF Partners has sold its entire 11 percent stake in MakeMyTrip and the transactions are estimated to be 400 Million, a largest cash exit in India’s venture capital industry. The news was first reported by economic times. Founded in 2000 by Deep Kalra, Keyur Joshi and Rajesh Magow, Makemytrip shares surged by over 50 percent following its merger with the Ibibo Group. The Nasdaq-listed company’s received about USD 25 million in travel company’s series B and series C round of funding between 2005 and 2008 and owned 41 percent stake in the company when it debuted in Nasdaq in 2010. This is an exceptional investment exit as venture capital firms in India are facing difficulties to generate cash from the investment as only few of the companies have o...

Indian Online Travel Portal Yatra.com Listed on Nasdaq Today

20Dec By NitishNo Comments

News

Indian Online Travel Portal Yatra.com Listed on Nasdaq Today

Online travel firm Yatra Online Inc has been listed on the American stock exchange, Nasdaq, under the ticker symbol "YTRA" with effect from today. Yatra said it has completed the transaction with Terrapin 3 Acquisition Corporation (TRTL), which will result in TRTL becoming a partially owned subsidiary of Yatra. As a part of this process, Yatra has raised more than USD 92.5 million of primary capital from global investors, and the merged entity, 'Yatra Online Inc', will continue to be led by Yatra's management team, Yatra Online Inc said in a statement. Commenting on the development, Yatra Co-founder and CEO Dhruv Shringi said: "It's a matter of great pride for us to be one of the few Indian companies to be listed on Nasdaq". Over the course of the past decade, Yatra has established i...

5Nov By No Comments

News

Breaking: Facebook to launch news app

Facebook Inc is preparing to launch a new standalone news app called Notify next week, the Financial Times reported, citing people familiar with the plans. The app will feature content from dozens of media partners including Vogue, the Washington Post and CBS, the newspaper said. Facebook had earlier tied up with nine news publishers to launch "Instant Articles", which publishes their content directly to the social network's mobile news feeds. The company's new app will compete with Twitter Inc's recently launched service called Moments, which aims to provide a better way of curating and aggregating content for users and help them follow live events. Facebook was not immediately available to comment. Shares of the company, which is set to report quarterly earnings after ...

2Sep By NitishNo Comments

News

Rediff Introduces Real-time ‘Conversations’ to its Platform

Rediff.com India Ltd. (NASDAQ: REDF) ("Rediff" or "the Company"), an India-based internet company which delivers digital content and commerce services, introduced 'Conversations', a real-time messaging platform, making it easy and secure for users to converse on topics of common interest. Users can create 'Conversations' on the fly and invite others to contribute. Participants can also share articles, links, images and documents. 'Conversations' thus becomes the knowledge repository for various topics. The service addresses the issue of users having to manage multiple communication threads on related topics. 'Conversations' makes it easier for new members to use the platform as multiple discussions are available for their reference in chronological order. The platform also includes ...