Snapchat Intends To Lay Off Employees
The Verge reported on August 8 that Snap is in the early stages of contemplating layoffs. The extent of job losses is presently unknown because managers are still preparing it for their teams. Snapchat employs around 6,000 people. The news comes as technology corporations, cryptocurrency exchanges, and banking… read-more
Tags: Social Media, Snapchat, Lay Offs, employees, Tech-Gaint
Courtesy: Gadgets 360
Alibaba Laid Off Roughly 10,000 Workers As Part Of Cost-Cutting Initiatives
Alibaba, Chinese technology corporation, has laid off around 10,000 workers as part of cost-cutting efforts in the face of a weakening economy. The layoffs came as Alibaba announced a 50% decline in net profits in the June quarter, to 22.74 billion yuan. In other developments, Alibaba Chairman and CEO Daniel Zhang Yong stated that the internet business wants to hire 6,000 new university graduates by the end of the year.
Tags: Alibaba, employees, fired, Tech-Gaint, Chinese Firms
Courtesy: India Today
Realme India Extrapolates To Sell 30 Million Smartphones In 2021
Chinese smartphone brand Realme has planned to increase its 2021 sale by 30% by selling 25-30 million units in India. Realme India CEO Madhav Sheth said that despite losing over a quarter of their 2020 sales, the company had managed a 25% rise in sales. Madhav stated the opportunity of increased replacement due to rough use during the pandemic would help them reach the target while aiming at under Rs 15,000 smartphones.
Tags: Realme, Smartphones, business, China, Tech-Gaint
Chinese Financial Regulators Launch Probe Into Alibaba Group
China's State Administration for Market Regulation has declared that an anti-monopoly investigation had been launched against the tech-giant Alibaba Group. The Chinese regulators have earlier warned the group for forcing their merchants to sign deals promising not to offer their products on rival platforms. Previously in November, the authorities have blocked the stock market listing of Alibaba's associate Ant Group, which would have been the… read-more
Tags: China, E-commerce, Tech-Gaint, entrepreneur
Courtesy: BBC News
Twitter To Curb Misinformation By Warning Users Before Liking Flagged Tweet
Twitter will now be warning its users before they like a labeled tweet, which may contain information that can be misleading. Twitter had already implemented a similar warning system during the US Presidential Election that resulted in a 29% decline in spread of misleading tweets. Reportedly, the function will initially be available for iOS and web users only, while for Android users, it will be rolled out in coming weeks.
Tags: Twitter, Technology, Tech-Gaint, iOS
Courtesy: Indian Express
India To Dive Deeper Into Ocean For Exploring Underwater Resources
The Ministry of Earth Sciences secretary M Rajeevan said that India was likely to launch a "Deep Ocean Mission" in the next 3-4 months to explore the possibilities of underwater resources. The official informed that the required permissions were secured for the mission. With an estimated cost of over Rs 4,000 crore, the "futuristic and game-changing” mission aims to strengthen India's presence in the Indian Ocean.
Tags: Technology, India, ISRO, Tech-Gaint
Courtesy: Financial Express
Flipkart Plans to List its Overseas IPO As Early As 2021
E-commerce firm Flipkart is eyeing for an initial public offerings in the US and Singapore as early as 2021. The offering could value the firm up to $50 billion (roughly Rs. 3,68,512 crores), sources familiar with the company's plans told Reuters. Reportedly, Flipkart's current market value stands at $25 billion. However, the Bengaluru-based firm has not responded on the information being surfaced yet.
Tags: Technology, Walmart, Tech-Gaint, Flipkart
Courtesy: ET Tech
In 'Series A1', Foxy's Parent Company EkAnek Networks Raises Rs 40 Crore
EkAnek Networks, parent company of Foxy, announced it has raised Rs 40 crore in its 'Series A1' investment round. The funding round was led by Alpha Wave Incubation (AWI) with existing investors - Matrix Partners India, Sequoia Capital India, and Lightspeed India - also taking part. Navroz Udwadia, co-founder of Falcon Edge Capital, said, “Foxy will offer mobile-first consumers a differentiated approach to supply, curation, and fulfillment of… read-more
Tags: Technology, Investment, Tech Industry, Tech-Gaint
Courtesy: ET tech