Business News

TinyOwl raises 16M dollars in Series B funding round to spread across 50 cities in India

TinyOwl

Washington, Feb 27 - India-based food ordering service TinyOwl reportedly landed 16 million dollars in a Series B funding round to expand its services across 50 cities in the South Asian country.

According to Tech Crunch, TinyOwl co-founder and CEO Harshvardhan Mandad disclosed details in an email to staff earlier this month.

The company had earlier denied the news, but later confirmed that it had received the funding.

The young startup had managed to raise 1 million dollars in August 2014.

It added a 3 million dollars Series A round in December, the report said. (ANI)


Chase says bank likes 'attractive', 'engaged' customers like Apple Pay users

Chase says bank likes 'attractive', 'engaged' customers like Apple Pay users

Washington, Feb 26 : JPMorgan Chase has revealed that the bank likes to associate with "attractive and engaged" customers like Apple Pay users .

As per AppleInsider, Chase told investors that more than 1 million customers have set up their Chase credit and debit cards for use with Apple Pay, the Verge reported.

Apple Pay customers, who tend to be nine years younger than the bank's average yet earn 21 percent more, constitute a greater portion of the overall credit card spend.

Chase was one of the first banks to commit to Apple Pay when the service was announced in September, and features prominently in Apple Pay and iPhone 6 imagery.

Today it's just one of almost 100 participating banks in the US. (ANI)


Coca Cola's latest ad campaign in Puerto Rico uses popular emojis in web addresses

Coca Cola's latest ad campaign in Puerto Rico uses popular emojis in web address

Washington, Feb 22 : Coca-Cola Puerto Rico's latest ad campaign makes use of popular emojis in registered web addresses, a report said.

The cutesy URLs can be found on the company's website and other media outlets, including billboards, reported Mashable.

When the URLs are entered into a mobile device, they are rerouted to the Coca Cola Puerto Rico website.

The links do not end with dot com or dot net but with ".ws" which is the domain for Samoa.

A representative from DDB Puerto Rico said that the company decided to go for ".ws" because domains such as .com, .net did not accept emojis and also, the letters, "w" and "s" could stand for "We smile." (ANI)


Wooplr receives 5M dollar funding to expand team in India

Wooplr

Washington, Feb 20 - Social media platform Wooplr has reportedly received 5 million dollars in Series A funding round from Helion Ventures to expand its team in India.

According to Tech Crunch, Bangalore-based Wooplr started out as a social network for sharing fashion photos, but it has evolved into a discovery platform for fashion enthusiasts.

The company was founded by four ex- McAfee colleagues - Arjun Zacharia, Soumen Sarkar, Praveen Rajaretnam and Ankit Sabharwal in March 2013.

Wooplr managed in raise 225,000 dollars earlier during the seed round.

Rajaretnam said that the company aimed to deliver on the promise of social commerce - providing the right product to the right user at the right time. (ANI)


India's Snapdeal acquires luxury shopping portal Exclusively.in

Snapdeal

Washington, Feb 19 - India's e-commerce platform Snapdeal has acquired luxury shopping portal Exclusively. in .

According to Tech Crunch, the acquisition is part of its bigger strategy to capture 2 billion dollars in gross merchandise value in online fashion in India this year.

The move is likely to put the company at par with rival company Flipkart.

Flipkart, is also making moves to invest in high-end, online fashion through its Myntra acquisition; and Jabong, part of the Rocket Internet e-commerce empire. (ANI)


Mashable announces foray into India in partnership with India.com

Mashable announces foray into India in partnership with India.com

Washington, Feb 18 : U. S.-headquartered news portal Mashable has announced its foray into India with the creation of Mashable India in partnership with India. com.

The company will be setting up an editorial team in New Delhi and Mumbai and launching its dedicated site for Mashable india .

Mashable's mission, since 2005, has been to chronicle the technology and social media trends across the world and its impact in the global transformation.

According to Mashable, the juxtaposition of digital media and technology with culture and society give Mashable a natural place for growth.

Mashable said that India ranks among its top five markets across the world that shows that the Indian audience is eager for Mashable content. (ANI)


India based 'News In Shorts' raises 4M dollars in 'Series A' funding led by Tiger Global

India based 'News In Shorts' raises 4M dollars in 'Series A' funding led by Tige

Washington, Feb 17 : India-based company News In Shorts has reportedly raised 4 million dollars in Series A funding led by Tiger Global.

According to Tech Crunch, the funding round for the New Delhi-based startup that operates a news digest app for iOS and Android included participation from Japan's Rebright Partners and existing investors Sachin and Binny Bansal, the founders of e-commerce firm Flipkart .

News In Shorts publishes 60-word summaries of the day's top stories from categories including sports, entertainment, national and international news.


Indian restaurant search company Zomato to launch food delivery service in home market

Zomato

Washington, Feb 13 - Indian restaurant search and discovery company Zomato is planning to launch a new service across India letting customers order directly from its platform starting on March 16.

According to TechCrunch, Zomato is partnering with 2,000 restaurants and expects to reach 10,000 supported restaurants across India, said Zomato CEO and co-founder Deepinder Goyal.

He said that the company has a sales team of 300 employees and 5,000 odd advertisers. Goyal added that the partners are aware of the volume Zomato brings to them which makes it easier for them to launch the food delivery service.

Zomato has allocated 50 billion dollars to develop its new service across the country.


Twitter, Google sign big deal to make tweets available in search results

Twitter and Google

Washington, Feb 06 - Twitter and Google have inked a big deal wherein tweets will be available in Google search results which will benefit both companies.

According to the Verge, Google will have complete access to tweets on the social networking site Twitter.

The deal will make tweet more immediately available outside of Twitter.

The effects of the deal are expected to take the forefront in the first half of this year.

Twitter has declined to comment on the deal as of now. (ANI)


Indian online mobile recharge platform FreeCharge raises 80 mln dollars in series C financing

FreeCharge

Washington, Feb 06 - India-based mobile commerce platform FreeCharge that provides a service where users can recharge mobile phones online has raised 80 million dollars in series C financing.

According to TechCrunch, FreeCharge gives out coupons and other rewards to users when they pay their phone, satellite television, and utility bills.

Investors such as Valiant Capital Management and Tybourne Capital Management, as well as returning investors Sequoia Capital, RuNet, and Sofina were included in the Series C round.

FreeCharge raised 33 million dollars in September in Series B. The company's latest funding brings its total raised so to around 115 million dollars so far.


Apple leads in ad revenue on mobile for 2014

Apple leads in ad revenue on mobile for 2014

Washington, Jan 04 : A new study has revealed that Apple went on to lead in ad revenue on mobile for 2014.

According to Tech Crunch, a new study by Opera Mediaworks found that the iPhone-maker led 2014 in ad revenue by a wide margin despite Android reaching an all-time high in terms of ad impressions, and leading the overall market for the year on that score.

Android 's success largely depended on legacy platforms like BlackBerry and feature phones.

But, iOS-based devices continued to be the unmatched leaders when it came to lucrative rich-media and video-based ad campaigns, the report added. (ANI)


Pune-based baby products company FirstCry.com receives 26M dollars in funding

Pune-based baby products company FirstCry.com receives 26M dollars in funding

Washington, Feb 4 : A Pune-based baby products company FirstCry. com is the latest Indian e-commerce company to receive funding.

According to Tech Crunch, the startup announced that it has raised 26 million dollars led by Valiant Capital Partners.

It is reported that the company altogether grabbed 55 million dollars in another round of funding following the return of its existing investors .

India is witnessing a record growth in its e-commerce market. Experts believe that the e-commerce market in India will be worth 43 billion dollars by the end of this decade. (ANI)


The more the options, poorer the decisions

Washington, Feb. 4 - A new study has recently revealed that people get bogged down and frustrated when given lots of options or choice overload while purchasing any good or services, which might lead them to poor decisions.

Economists call that problem choice overload, and the frustration it causes can lead to poor decisions.

Tibor Besedes, an associate professor in the School of Economics at the Georgia Institute of Technology, said that standard economic theory will tell that more choice was always better and theoretically, that works out, but when it comes to apply it, that's very different.

When people are given a lot of options, they can get bogged down and, at some level, become unwilling to consider anything because it just gets too complicated, he further added.


'Make in India to use technology for industrial growth'

'Make in India to use technology for industrial growth'Washington: Inviting American companies to take advantage of the vast manufacturing opportunities in India, a senior government official has said that a major highlight of the 'Make in India' initiative is to use technology to leapfrog in terms of industrial growth.

Amitabh Kant, Secretary, Department of Industrial Policy and Promotion (DIPP), yesterday urged US industry to take advantage of the vast opportunities in the various sectors identified under 'Make in India' to enter India, make for the domestic market and also export.


US says trade benefits for Bangladesh can be restored if unfair labour practices end

US says trade benefits for Bangladesh can be restored if unfair labour practices endWashington, Jan 17 : United States Trade Representative Michael Froman has said trade benefits can be restored to Bangladesh if the latter takes more steps to end unfair labour practices.

The United States revoked trade benefits for Bangladesh in mid-2013 after a garment factory collapse and a factory fire killed more than 1,200 people.

The Daily Star quoted Froman, as saying that while Washington accepts the Bangladesh Government's claim of putting in place over 2,000 safety reviews of its factories, it still feels more needs to be done on this front.


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