Will the latest dot com bubble burst? That’s the question on many lips, as 2020 shapes up to be one of the most remarkable years ever for tech brands going public. AirBnB’s…
Flipkart’s Payments Firm PhonePe in Partial Spin-out, Valued at $5.5bn
Indian e-commerce giant has partially spun-out its mobile payments brand PhonePe, selling a stake in the startup to Walmart. The deal, which makes PhonePe $700 million in primary capital, boosts Bengaluru-based PhonePe’s…
Russian Banking Giant Sber Makes Massive Pivot to Tech
Sberbank, Russia’s largest bank and the 33rd-biggest on earth, has made a huge pivot to tech, as it bids to revamp its image for the digital age. Today the Moscow-headquartered firm inaugurated…
Restaurant Tech Firm Toast Reaches $8bn Valuation After Cutting Staff
Toast, a Boston-based restaurant point-of-sale (POS) tech startup, has soared to an $8 billion valuation just seven months after slashing staff numbers by half. Toast laid off 1,300 staff this April amid…
Milan’s Kampaay Wins $689,000 for Digital Events Platform
Italian startup Kampaay, a platform that streamlines event organization, has won a €580,000 ($689,000) funding round to expand its solution. The firm, founded out of Milan’s Politecnico university, hooks events planners up…
“Singles Day” Breaks Alibaba Records – But Regulation Knocks Chinese Stocks
Alibaba, the Chinese tech giant, has pulled in record sales figures. Yet not all is rosy for the firm. In previous years “Singles Day”—a Chinese Black Friday—has been measured in 24-hour frames.…
Cellwize Raises $32m Round to Accelerate 5G Adoption
Israeli startup Cellwize has won a $32 million Series B funding round, as it continues its project to accelerate deployment of 5G networks worldwide. The round, led by Intel Capital and Qualcomm…
Dutch EIT Kicks Off Bid to Build $118bn Green Hydrogen Economy
Dutch enterpreneurship hub EIC InnoEnergy has launched the European Green Hydrogen Acceleration Center (EGHAC), as part of the European Union’s so-called ‘Green Deal.’ The organization hopes its move will contribute to efforts…
Big Tech Avoiding Almost $3bn in Developing-World Tax – Report
US tech giants are exploiting tax loopholes to avoid paying billions to the governments of developing nations, according to an NGO report. ActionAid International claims that Facebook, Microsoft and Google parent Alphabet…
Intel Shares Slip on Revenue Shortfall
Intel’s share price has dropped 10%, as the Coronavirus pandemic continues to take a toll. The Californian chipmaker’s value took a dive on underwhelming revenues, which analysts blame on the pandemic’s freezing…