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Elon Musk’s SolarCity Sued By Khosla Ventures & Cogenra Solar

27Sep By reutersNo Comments

News

Elon Musk’s SolarCity Sued By Khosla Ventures & Cogenra Solar

Elon Musk's SolarCity has been accused of intellectual property theft by Cogenra Solar, a wholly owned subsidiary of SunPower Corporation, and Khosla Ventures. In a lawsuit filed in San Francisco on Monday, the parties accused SolarCity of gaining undue advantage of Cogenra's Shingling technology that helps in manufacturing high-efficiency commercially viable solar panels. SolarCity and its subsidiary Silevo misappropriated Cogenra's trade secrets, manufacturing processes, and other intellectual property to give themselves a competitive advantage and head start in developing shingled-cell solar modules, Cogenra said in the lawsuit. SolarCity said that last week it discovered that a former SolarCity employee had unlawfully downloaded confidential information, copied that informatio...

Indonesia Based GO-JEK Acquires Bangalore Based Startup Pianta

27Sep By AnkitaNo Comments

ACQUISITION

Indonesia Based GO-JEK Acquires Bangalore Based Startup Pianta

Indonesia's based food and grocery delivery startup GO-JEK has acquired Bangalore based Pianta, a marketplace for home healthcare services, for an undisclosed sum. Post the acquisition, Pianta's eight member team will merge with GO-JEK's engineering centre in Bangalore. Founded in 2010, GO-JEK has over two lakh motorbike taxis, known as "ojeks" in its fleet. Since then, the company has diversified into food, grocery and even courier delivery services. GO-JEK raised $550 million in 2016 from the likes of KKR, Warburg Pincus, Farallon Capital and Capital Group Private Markets. In India, GO-JEK doesn't have any services but has an engineering centre in Bangalore where it employs 60 people."Pianta's core team comes from Ola and Flipkart and their expertise in the logistics and payments s...

Amazon to Set Up 3 More Fulfillment Centres By Year-end

26Sep By Press Trust of IndiaNo Comments

News

Amazon to Set Up 3 More Fulfillment Centres By Year-end

E-commerce giant Amazon will set up three more fulfillment centres in India taking the total number to 27 by the end of this year, a senior executive of the company said here today. "Right now, we have 24 fulfillment centres. By the end of this year, we should be closing with around 27 fulfillment centres. That would give a storage capacity of around 7.5 million cubic feet. That is one of the largest investments we committed to India," Noor Patel, Director Category Management, Amazon India told reporters in a press conference. However, Patel declined to reveal the locations for the proposed centres. A senior official of Amazon said currently 24 centres are located across 10 states in India. "This is the only country where Amazon is having its own delivery infrastructure," he ad...

Instagram Advertisers Goes Double in Six Months

23Sep By reutersNo Comments

News

Instagram Advertisers Goes Double in Six Months

Facebook Inc's Instagram said on Thursday its advertising base more than doubled to exceed 500,000 in the last six months. Instagram, the popular picture-sharing app that uses Facebook's ad technology to target highly specific audiences, has gained traction as the preferred platform used by ad agencies for social media campaigns. The app, which has more than 500 million users, also said more than 1.5 million businesses had switched to its Business Tools program in the two months since its launch earlier this year. The program allows businesses to promote posts and create custom profiles on Instagram that allows potential users to contact them by phone, e-mail or text messages. The company, which was bought by Facebook for $1 billion in 2012, is expected to generate $1.5 billion...

Flipkart Crosses 100 Million Users, Become First E-commerce Firm To Achieve This Milestone

21Sep By PriyankaNo Comments

News

Flipkart Crosses 100 Million Users, Become First E-commerce Firm To Achieve This Milestone

India's leading e-commerce platform Flipkart has crossed the 100-million registered users mark, becoming first e-commerce company in the country to achieved this milestone. "This is a small step in our efforts to build a platform that provides quality products, affordable and accessible to millions of Indians shopping online. This milestone has further energized us to ramp-up our efforts and build a world-class shopping destination," Flipkart co-founder and CEO Binny Bansal said. One of the most valued start-ups in the country, Flipkart has Tiger Global, Accel Partners, Morgan Stanley and T Rowe among its investors. The company has raised over USD 3 billion in funding so far and has acquired companies like Myntra, PhonePe and LetsBuy. It has also invested in start-ups like Cube26, NestAw...

Smartphone Repair Platform JustLikeNew Raises USD 500K From Angel Investors

21Sep By NitishNo Comments

FUNDING

Smartphone Repair Platform JustLikeNew Raises USD 500K From Angel Investors

Smartphone repair e-commerce platform JustLikeNew.In today said it has raised funds worth USD 500,000 (about Rs 3.3 crore) through LetsVenture, from angel investors Mindtree executive chairman Krishnakumar Natarajan and former Oracle India MD, Sandeep Mathur. Existing investors Aneesh Reddy and Vikas Tandon have also reinvested in the company, it said in a statement here. The start-up is productizing over 10,000 smartphone repair services on its platform. Incepted in mid-2014 and formally launched next year, the start-up currently provides free pickup and drop services for smartphones and tablets with a service turnaround time of 48 hours, bringing high-quality repair at customers' doorstep. JustLikeNew.In has also established a dominant presence in the B2B segment through partner...

BookMyShow Posted Profit of 3.1 Crore in FY16

20Sep By PriyankaNo Comments

BUSINESS

BookMyShow Posted Profit of 3.1 Crore in FY16

BookMyShow.com, India's leading online entertainment ticketing platform posted Rs.3.1 crore profit on moday for the year ended 31 March, against a loss of Rs.13.5 crore in the year-ago period. Bigtree Entertainment Pvt. Ltd also known as Bookmyshow, Revenue rose to Rs.248 crore in the period from Rs.130 crore. Revenue from online ticket booking doubled to Rs.176.7 crore from Rs.88.4 crore. The company was founded in 1999 by Ashish Hemrajani, Parikshit Dar and Rajesh Balpande, the Mumbai-based online ticketing company raised over Rs.550 crore in its fourth round of funding in July led by US-based Stripes Group with existing investors Network 18, Accel Partners, and SAIF Partners participating. The funding valued the company at Rs.3,000 crore. BookMyShow is present in over 350 towns...

Swiggy Raises Rs 100 Crore from Bessemer Venture Partners

19Sep By PriyankaNo Comments

FUNDING

Swiggy Raises Rs 100 Crore from Bessemer Venture Partners

Food ordering and delivery platform Swiggy said it has raised $15 million in a fourth strategic round of funding (Series D) from Bessemer Venture Partners, with existing investors also participating. The freshly raised funds are expected to fuel company's next growth phase, with an improved customer experience. This will include technology upgrades, a wider spread of restaurants to choose from and better delivery efficiency, Swiggy said in a statement here. This comes close on the heels of the $35 million (nearly Rs 232.85 crore) it raised in January 2016 from existing and new investors, including New York-based Harmony Partners and Singapore-based RB. With this latest round of funding, the company has now raised $75.5 million (nearly Rs 502.28 crore) in all, it said. "Our strong...

Weblistr- Where There is a Need, There is a Website!

18Sep By AnkitaNo Comments

Story

Weblistr- Where There is a Need, There is a Website!

Online businesses and Startups in India are growing at an astronomical speed. Today where everything is available online, any product or service need can be resolved in mere clicks. Where there is a need, there is a website/app to fulfill it, unfortunately, the visibility of these websites is quite limited to the general internet users. Knowing where to get what online is the problem. Weblistr, India’s No. #1 online shopping guide aims at solving this problem. Weblistr is a one of a kind startup that accumulates useful information from e-commerce websites and apps across 20+ categories such as fashion, home décor, travel, food delivery, jobs, healthcare, education etc. It also has user generated ratings and reviews for online startups on their platform. The platform hosts over 500 websit...

Testing Firm Applause Raises $35 Million in Series F

15Sep By NitishNo Comments

FUNDING

Testing Firm Applause Raises $35 Million in Series F

Applause, the in-the-wild digital testing leader, announced it has raised $35 Million in a Series F financing round. The largest new investor in this financing round was Credit Suisse, and the round also included an investment by strategic partner, Accenture. The funding will increase the company’s investment in its strategy as the go-to source for improving customers’ digital experiences. This round brings Applause’s total funding-to-date to more than $115 Million. As the company formally launches its expanded Digital Experience solutions in the coming months, this funding enables Applause to: Further expand its in-the-wild digital testing services. The company will invest heavily in its real-world testing services that enable omni-channel testing – from web to mobile to IoT to bric...

Pakistan Blocks India Today Website For Insulting Army Chief

15Sep By Press Trust of IndiaNo Comments

News

Pakistan Blocks India Today Website For Insulting Army Chief

Pakistan has blocked India Today websites in the country for publishing a humiliating picture of its Army chief General Raheel Sharif. "The site you are trying to access contains content that is prohibited for viewership from within Pakistan. This website cannot be reached," reads the page of India Today websites. The Pakistan Telecommunication Authority (PTA), which is authorised to block offensive material on the internet, could not be reached for confirmation on account of Eid holidays. But it appears that PTA has been directed by the concerned authorities to block the India Today websites in Pakistan after the Lahore High Court (LHC) directed a petitioner to take up this matter with the federal government. Earlier this month, the court had disposed of the petition seeking a...

Godrej Interio to Launch E-commerce Platform in 2017

14Sep By PriyankaNo Comments

News

Godrej Interio to Launch E-commerce Platform in 2017

Furniture brand Godrej Interio would unveil its own e-commerce platform in India by April 2017 to help customers make choice from a wide range of products. Godrej Interio, which has entered into a tie-up with Mebelkart, Pepperfry, and Flipkart to serve online customers in the country, has done a three-year-long survey and prepared a roadmap for the purpose, Assistant Vice President, Integrated Marketing Godrej Interio Bedraj Tripathy said today. "We will have our e-commerce from next April. Though its a very small part of our business, we will soon come up with it," Tripathy said. However, venturing into e-commerce would have no channels-conflicts, the official said. "It will be an advantage for the customers. But we have planned it in such a manner that it does not affect our chan...