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Category: Business (page 2 of 155)

Flipkart creates upto 1.15L seasonal jobs, adds 66 warehouses, sortation centres

Flipkart, gearing up for the festival season, said it had added up to 66 warehouses and sortation centers, creating 1.15L seasonal jobs in the process during the last few months. The company has also strengthened its delivery routes, adding over 100 delivery hubs, in its preparation for the upcoming Big Billion Days event. Flipkart now has over 100 full-scale facilities across the country, with over 2600 delivery hubs.

GlassDoor acquires semi-anonymous social Network, Job board Fishbowl

GlassDoor, a semi-Anonymous social network that lets users post candid feedback about their workplace, has acquired Fishbowl. GlassDoor, with over 55M users, will integrate Fishbowl into its platform, while also allowing it to function as a standalone app for its one million user-base. Fishbowl enables its users to post anonymous feedback about their workplace, and to join groups for work, chat, and job search.

Source: Techcrunch

Investing platform Groww in talks to raise funds at $3B valuation

Indian startup Groww is in talks for a new financing round to raise funds at a $3B valuation. According to reports, the investing Platform is looking to raise up to $250M from the round, which could close within weeks. While the terms of the deal are subject to change, the startup is also looking to internally expand into cryptocurrency but hasn’t made any firm decisions as to when it will offer such trading options.

Source: Techcrunch

Bangladeshi grocery platform Chaldal raises $10M

Bangladesh’s second-largest grocery delivery service, as well as the largest e-grocery platform Chaldal has raised $10M through Series C funding round. With over 27 warehouses in 4 cities, Chaldal, by the end of the year, is planning to expand into 15 new cities and open 50 new warehouses from which it plans to deliver groceries. The company also has plans to launch a direct-to-consumer pharmacy.

Source: DealStreetAsia

TrueCaller aiming to raise over $100M in IPO

Swedish Caller-ID service TrueCaller said it wants to raise $116M in an initial public offering at the NASDAQ Stockholm. According to reports, the company plans to do its listing by the fourth quarter and is aiming for a $3B valuation in the IPO. With India as its biggest market, the firm has over 278M active monthly users and has raised up to $95M over the years through various funding rounds, with Sequoia Capital and Atomico, amongst its investors.

Source: Techcrunch

App Annie, Co-founder to pay $10M settlement

App Annie, a leading mobile data analytics firm, as well as its co-founder Bertrand Schmitt have been charged with securities fraud by the US Securities and Exchange Commission. They have agreed to pay a $10M settlement for the charges, related to “deceptive practices and making material misrepresentations about how App Annie’s alternative data was derived”. The firm has over 1100 corporate clients and over a million users.

Source: The Verge

South Korea fines Google $177M for blocking Android customisation

South Korean antitrust regulator has fined Google $176.64M for blocking customised versions of the Android OS in the country. While Google intends to appeal against the ruling, the Korean Fair Trade Commission has said that Google’s terms with device makers abused its dominant position in the market, restricting local competitors. The fine comes on the day a new amendment in Korea’s Telecommunications Business Act came into effect.

Source: Yahoo

Saudi Arabia approves new data protection law

The Saudi Arabian Council of Ministers has approved a new law to protect personal data from unconsented collection and processing. Titled “Data Protection Law”, it will be implemented within six months, the Saudi Data and Artificial Intelligence Authority announced and will protect data such as name, ID number, address, phone, personal records, financial info, or any other identification info from being collected without consent.

Source: Aawsat

Xiaomi launches smart glasses with real-time text, photo translation

Xiaomi has launched its first-ever eyewear product, the Xiaomi Smart Glasses, in a bid to compete with other tech giants like Google and Facebook. Weighing 51 grams, the glasses use MicroLEDs for a brighter display and deeper blacks. Xiaomi stated that the four use cases of the glasses were “key notification”, ”phone call”, “navigation”, and “photo translation”, with Xiaomi AI being the main method of user interaction with the glasses.

Source: MI