Features

Flipkart raises massive $1 billion funding round – Investment Round Up

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Series A Kurbo Health, a mobile program to help people lose weight, has raised $5.8 million in Series A funding from Signia Venture Partners, Data Collective, Bessemer Venture Partners and Promus Ventures. The company’s platform offers services through its iOS app to help children and their families lose weight. The company plans to launch an … [Read more...]

Facebook’s Q2 earnings send stock to all time high

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Facebook stock reached an all time high on Wednesday, topping $75 a share after the company’s Q2 earnings report beat analyst expectations. The social media giant reported $2.9 billion in revenue, surpassing projections of $2.8 billion by analysts. The company also posted $791 million in net income - an increase of 61% compared to the same … [Read more...]

Apple’s mixed earnings report reveals second straight quarter of dwindling iPad sales

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Apple reported mixed quarterly earnings today, with increased iPhone sales, higher than expected net income and strong growth in gross margins offset by declining iPad sales and lower than expected revenue. Apple reported $37.4 billion in revenue for Q3, down slightly from the $38 billion forecasted by analysts, but a 5.9% increase from the … [Read more...]

Microsoft’s profit hit hard following Nokia acquisition

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Microsoft has reported an 18% increase in revenue for the fourth quarter of its financial year, but the cost of integrating Nokia's handset business hurt profits. The software heavyweight earned $23.4 billion in revenues during the last three months of the fiscal year, a 18% increase over the previous quarter's results of $19.9 billion and just … [Read more...]

Hackathon to target North Korea’s ‘Hermit Kingdom’

Jan 15 Paju Launch-5

A two-day hackathon next month is aiming to bring more information to North Koreans. Hack North Korea, held in San Francisco between August 2 and 3, is hosted by New York-based NGO the Human Rights Foundation (HRF), and will pair Silicon Valley experts with defectors from the east Asian state, which is widely considered the most closed society on … [Read more...]

Netflix crosses 50 million subscribers mark despite price hike

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Netflix now has more than 50 million subscribers worldwide according to the company's quarterly earnings report released today. The content streaming website added 1.69 million users during the second quarter ending June 30, with 1.12 million new international subscribers and 570,000 additional U.S. members bringing the company’s total users to … [Read more...]

Workspot raises $6.5m Series A – Investment Round Up

Money Sign

Seed Jobr, a job search platform, has raised $2 million in seed funding from Lerer Ventures,Redpoint Ventures, Eniac Ventures, Lowercase Capital, Tim Draper, and others. The Jobr app seeks to connect job seekers and employers through a Tinder style model of swiping either left or right. Jobr plans to use the new funds to hire staff and build out … [Read more...]

Google reports 22% revenue increase as Arora bids farewell

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Google, Inc has reported modestly rising quarterly earnings for the second quarter of 2014. The tech giant earned $3.4 billion, or $4.99 per share, in the April-to-June period. The figures represent a slight increase on the $3.2 billion, or $4.77 per share, reported in the second quarter of last year. “We are moving forward with great product … [Read more...]

Microsoft to lay off 18,000 in biggest jobs cut

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U.S. tech giant Microsoft is set to lay off 18,000 employees, according to an internal memo from its new CEO. Satya Nadella, who took over the reigns from longterm chief Steve Ballmer in February, admitted that Microsoft needs to be “leaner” alongside more streamlined rivals such as Apple and Google, Inc. Nadella added that the biggest hit would … [Read more...]

Southeast Asia set for e-commerce boom

E-Commerce

Southeast Asia is the next big market for online shopping according to a recent study by UBS, which warns of the threat to established retailers posed by e-commerce firms. Physical barriers such as poor transport logistics infrastructure still hinder virtual shopping in the ASEAN group of countries, but as online retailers like China's Alibaba … [Read more...]