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How to Protect Your Small Business from Cyber Threats

20Jul By AnkitaNo Comments

Tech

How to Protect Your Small Business from Cyber Threats

If you’re like many small business owners, you might think you don’t need to worry about cyber attacks. Eighty-two percent of small business owners have said that they don’t think they need to implement cybersecurity measures because they don’t think their company information is worth stealing. Think again. Small businesses are very vulnerable to cyber threats, precisely because they think they’re not worth a hacker’s time. Data breaches affecting large companies may get all the press, but big corporations like Target and even government agencies know they’re at risk, and they have the budget to to easily implement comprehensive and sweeping threat detection and prevention plans. Small businesses are easier targets because many don’t even bother with cybersecurity measures, and the info...

Google invests $4.5 billion for 7.7% stake in Jio platforms

15Jul By PriyankaNo Comments

FUNDING

Google invests $4.5 billion for 7.7% stake in Jio platforms

Mumbai 15th July 2020: Google acquired a 7.7 percent stake of India's leading online company Jio platforms for $4.5 billion, adding to a series of large U.S. investments into an India based online venture that has nearly 400 million users in India. The global search leader is acquiring 7.7% of the fast-growing internet unit for 337.4 billion rupees, Reliance Chairman Mukesh Ambani said in a Reliance AGM event. Google, whose Android software runs on most smartphones, will help Jio create an entry-level, affordable mobile device, he added. Google joins rival Facebook Inc., which recently invested $5.7 billion toward a 9% stake of Jio. Total 14 investment came in Reliance Jio in the last two months which includes chipmakers Intel Corp. and Qualcomm Inc etc. Jio is a highly prefe...

Clarke Capital and Ikonifi Acquire Softbank’s Former Portfolio Company Brandless.com

25Jun By AnkitaNo Comments

ACQUISITION

Clarke Capital and Ikonifi Acquire Softbank’s Former Portfolio Company Brandless.com

SALT LAKE CITY, June 25th, 2020 -- Utah-based Clarke Capital Partners with Silicon Slopes digital marketing agency, Ikonifi acquire Brandless.com. Brandless.com is the community-driven, direct-to-consumer company that offered a curated assortment of high-quality, fairly priced products. After this acquisition, the partnership intends to aggressively relaunch these products to order it online in the near future. The company that shot to stardom in 2018 under the leadership of Tina Sharkey, shut its doors in February of this year, despite having achieved a $500 Million valuation and having received almost $300 Million from sources including SoftBank's $100 Billion Vision Fund, NEA, Redpoint Ventures, GV, and Sherpa Capital. Celebrity investors had also included the likes of S...

Cipla acquired 22 percent stake in GoApptiv

11Jun By Press Trust of IndiaNo Comments

ACQUISITION

Cipla acquired 22 percent stake in GoApptiv

Pharma major Cipla will acquire 21.85 percent stake in GoApptiv on a fully-diluted basis in two phases. The cost of acquisition is Rs 9 crore (Rs 5.80 crore in the first stage and Rs 3.20 crore in the second stage), it said in a regulatory filing. In the first stage, subscription of 15,392 compulsorily convertible preference shares and purchase of 6,927 equity shares is expected to be closed within 30 days from the execution date, subject to certain conditions precedent,.In the second stage, subscription of 12,314 compulsorily convertible preference shares is expected to close by October 31, subject to certain conditions precedent, it added. GoApptiv offers digital solutions for integrated brand sales management, digital marketing and channel engagement for pharmaceutical compani...

New York based Vroom raises $467.5 million in US IPO

9Jun By AdityaNo Comments

Market

New York based Vroom raises $467.5 million in US IPO

Online used car seller Vroom Inc raises $467.5 million in its initial public offering. Applied for IPO last month, Vroom priced its IPO at $22 in the US stock exchange, above the initially marketed range of $18 to $20, valuing the company at $2.48 billion. T Rowe Price Associates and L Catterton backed Vroom sold 21.25 million shares compared with the earlier plan of 18.8 million shares. The shares will trend as a VRM under Nasdaq listing on Tuesday. Recent recovery in the U.S. stock markets has led to a flurry of IPO-hopefuls entering the race. Vroom reported a more than twofold rise in sales at its e-commerce business in the first quarter of 2020 as the virus outbreak and stay-at-home orders stoked a surge in online shopping. The company, which use digital tools to clo...

2Jun By AdityaNo Comments

FUNDING

Knorish raises $323k in funding for business expansion

New Delhi, June 2, 2020: IT start-up Knorish has raised $323000 (Rs 2.4 crore) in a funding round from Standard Greases Family group and former business head of Sony Liv, Uday Sodhi, to expand operations, the company said on Tuesday. Earlier in December, it had raised funding from venture capitalist firm 100X.VC as part of its seed funding round. "Knorish has raised USD 3,23,000 (about Rs 2.4 crore) as part of its pre-series A as a follow up to the seed round raised in December last year by 100X.VC. The current round saw participation from the Standard Greases Family group and Uday Sodhi, ex-business head of Sony Liv," the company said in a statement. Knorish provides software tools to professionals for launching online platform. "We are looking at global growth to touch lives ...

20May By PriyankaNo Comments

FUNDING

Indian Ledger App Khatabook raises $60 million in funding by Facebook Cofounder

India's leading ledger app Khatabook raises $60 million in equity round funding led by Facebook co-founder Eduardo Saverin's B Capital Group & others. Started in 2018, Khatabook is an android app that helps Small Shopkeepers and Kirana owners manage Credit & Debit transactions using their digital ledger service. The total funding has raised by the firm is $87 million. The Series B round values Khatabook at between $275 million and $300 million. The funding round has also seen participation from existing investors, including Sequoia Capital, Partners of DST Global, Tencent, GGV Capital, and RTP Global, along with a number of prominent angel investors like Kevin Weil, Alexander Will, Cred founder Kunal Shah, and Snapdeal co-founders Kunal Bahl, Rohit Bansal. Kahatabo...

19May By AdityaNo Comments

INDIA

70% of Indian Startups are going to collapse says Nasscom Survey

70% of Indian startups have a cash runway of less than 3 months, with early stage and mid stage startups the worst affected, a report by Nasscom said. Revenues are squeezed for 90 per cent of over 250 startups surveyed by Nasscom in April this year. Over 250 startups with diverse profiles participated in the survey which included 45% mid-stage startups, 30% mature startups, and 25% early-stage startups. The Indian tech startup ecosystem is the third largest in the world with over 9,300 tech startups, providing direct employment to over 4 lakh people. However, the COVID-19 pandemic has come as a jolt and put the brakes on the flourishing growth story. As per the report, 28% of startups are hit by funding shortage which can affect long term sustainability, 21% startups are ...

Buying a VPN? Here are 5 Things to Look For

8May By PriyankaNo Comments

Tech

Buying a VPN? Here are 5 Things to Look For

VPNs have become quite popular especially due to the increase in surveillance, data breaches, geo-restrictions, censorships, etc. Having a good VPN can, therefore, go a long way in keeping your online activities private and secure, as well as enhancing your daily life by offering you internet freedom. However, there are hundreds of products in the market that you can choose from. This makes it hard to decide the right product for you, but there are some basic features everyone should look for. Unfortunately, most of these features are only found in premium VPNs. And although there are some great and truly free VPN providers, most of them are still out there to make money and may not provide you with the best experience. 1. Speed VPNs usually have an effect on your speeds d...

4May By NitishNo Comments

FUNDING

Stash Raises $80 Million funding from LendingTree

CHARLOTTE, N.C., May 4th, 2020-- LendingTree, a leading online financial services marketplace has made a strategic investment in one of the fastest-growing banking and investing services in the US known as Stash. The investment from LendingTree is part of Stash's Series F funding, which includes funds and accounts advised by T. Rowe Price Associates, Inc. as well as Breyer Capital, Goodwater Capital, Greenspring Associates, Union Square Ventures, and other investors. Since its launch in 2015, Stash has helped over 4.5 million Americans take control of their finances, avoid fees, and achieve their financial goals. Stash offers all-in-one subscriptions that prioritize affordability, accessibility, education and simplicity, and include personal investment accounts, Traditional and Roth ...

Facebook revenue grew 17 percent, Posted $4.9 billion profit in Q1 2020

30Apr By AnkitaNo Comments

BUSINESS

Facebook revenue grew 17 percent, Posted $4.9 billion profit in Q1 2020

World's leading social media platform Facebook reported a profit of $4.9 billion on revenue that grew 17 percent to $17.4 billion during the first quarter result of the year. Facebook also reported a sharp jump in usage as the global pandemic in a quarterly result. The shares of social media platform climbed some 10 percent. "Our work has always been about helping you stay connected with the people you care about," said Mark Zuckerberg, Facebook founder and CEO. "With people relying on our services more than ever, we're focused on keeping people safe, informed and connected." Facebook Q1 2020 Result Facebook's daily active users were 1.73 billion on average for March 2020, an increase of 11% year-over-year. Facebook monthly active users were 2.60 billion as of March 31, 2020, a...

Former Vice President of Baidu’s Suspected of Corruption

22Apr By PriyankaNo Comments

CHINA

Former Vice President of Baidu’s Suspected of Corruption

A former executive at China's internet search giant Baidu is being investigated for corruption, the company said. Ex-Baidu vice president Wei Fang is under suspicion of corruption following internal investigations, and his case has been handed over to public authorities, said the firm's professional ethics committee in a statement to AFP. Baidu vowed it would "resolutely crack down on all violations of law and discipline", but did not give further details of Wei's alleged wrongdoing. The case comes just weeks after it was revealed that a top executive at Starbucks competitor Luckin Coffee might have faked 2.2 billion yuan (USD 310 million) worth of sales last year, causing the shares of the NASDAQ-listed firm to plummet over 70 per cent. The former chief operating officer and s...