Tag Archives: Business News

Ritesh Agarwal, SoftBank Group Corp. founder, Oyo Hotels and Homes said his company is raising $1.5 billion from investors because the India accommodating company startup wants to evolve to foreign markets as are the U.S. and Europe.Agarwal said he will be spending more than $700 million to buy new shares in the company as part of a said before $2 billion plan in order to make his ownership stake worth more than three times. Also, other investors are SoftBank’s Vision Fund, Lightspeed Venture...

The U.S. and China are all set to engage in discussion this Thursday, October 10, over the year-long trade dispute between the economic giants. The world is observing these events closely as they will set the tone for the future global economic scenario.While the Trump administration has set some demands and policy changes, China has shown a strong reluctance to it. According to the latest Bloomberg report, China has narrowed down the scope for the upcoming discussions. Beijing officials have...

Apart from its ongoing antitrust investigation as put forward by the Federal Trade Commission (FTC), Facebook is also having a rough time regarding its proposed digital currency, the Libra. A few months ago, Facebook announced its plans to float its own cryptocurrency and also released a whitepaper to the effect.As part of the announcement, a Libra Association was announced, an association made up of several big companies including Uber, Mastercard, Visa, eBay, Spotify and many other...

On Thursday, after Facebook announced its new Threads app, Snap Inc. (SNAP) stock fell up to 7%. Facebook’s latest attempt to clone features already being used by Snapchat is only one of many, which has since pitched both social media giants together in the public eye.Even though Threads is a stand-alone app, it allows users already on Instagram to exchange status updates and media including photos and videos, to specific people who make up their “close friends”, an Instagram feature which...

Bird, a startup that rents out electric scooters, has acquired an extra $275 million in Series D funding round led by CDPQ and Sequoia Capital. After raising that amount at a valuation of $2.5 billion, the company claims that is a testament to its effort to improve its unit economics.Notably, the new funding raises Bird’s post-money valuation to almost $2.8 billion. This funding round comes just a few months after reports emerged that Bird wanted to raise a Series D round at a $2.5 billion...

Internet advertising startup IronSource has reportedly raised over $400m in fresh capital from the prestigious investment firm CVC Capital Partners which has in exchange acquired a 25% minority stake in the firm. As indicated by sources, the firm is now valued at around $1.55 Billion which represents a coming of age for the Israeli technology company.Before now, the company has raised capital from various partners who enabled it to gain a foothold in the mobile app monetization market. From...

Although Apple is making an aggressive move in the fintech and global payments industry, the tech giant has no plans to step in the crypto space for now. Apple Inc’s chief executive officer Tim Cook recently said that his company has no plans to launch its own digital currency.During an interview with French financial newspaper Les Echos, Cook said that matters related to currency should remain in the hands of countries and their respective governments. He added:“I really think that a...

Photo: Taboola / TwitterAdvertising company Taboola and its competitor, web advertising platform Outbrain announced they are merging, forming one company. Even though this is a mutual company, it will nevertheless be called Taboola, and Taboola’s founder Adam Singolda will act as its CEO.Taboola is said to pay Outbrain investors $250 million in cash plus a 30% share of the combined companies.The main goal is to widen its customer list that should now have more than 20.000 online properties...

Microsoft announced something we didn’t really expect – a new foldable Surface Neo counterpart with phone functionality. Dubbed the Surface Duo, it runs Android instead of Windows. It seems that the world strongly needs a “clasp” because foldable phones are starting to be very much “in fashion” again.Microsoft came as a direct challenge to Samsung’s Galaxy Fold but also the upcoming Motorola Razr. The main difference will be in the fact that you may choose between one big screen that bends in...

There has been a lot of negativity surrounding the launch of Facebook Libra over the last few months. Global regulators and banking institutions have showered severe criticism over the project. However, despite several kickbacks, the Libra Association is proceeding ahead with its plans of mainnet launch.Recently, the Libra Association has published a new roadmap that highlights 4 major milestones to be attained before the launch of the Libra network. The Calibra team says that the first...