Latin American SoftBank-backed startup Kavak is Mexico’s first unicorn

In a significant development, SoftBank-backed used-car platform Kavak has become Mexico’s first ever tech “unicorn”. The startup was valued at $1.15 billion in its latest funding round last month, said its CEO Carlos Garcia. Since its founding in 2016, Mexico City-based Kavak has raised more than $400 million in total funding with SoftBank, Greenoaks Capital…

Tesla trims starting price for its Shanghai-made Model 3 sedans

On Thursday, U.S. electric vehicle maker Tesla Inc stated, it has trimmed the starting price for its China-made Model 3 vehicles by nearly 8% to $36,805.21 (249,900 yuan). The development comes in the wake of Tesla receiving subsidies from the Chinese government for its electric vehicles. Earlier the starting price for its Model 3 electric…

Huawei Will Show Its Inner Workings To Prove Its Equipment Presents No Security Threat

For those countries that has any intention of including telecom equipment manufactured by the Chinese firm Huawei in the creation of 5G networks, the Chinese company is willing and ready to be thoroughly examined so that it can be proved that none of its equipment that it could potentially supply poses no risk to any…

British Online Grocer Ocado Surpasses Largest Grocer Tesco In Market Value

The growing trend of popularity of online retailers was evident once again after the British online grocer Ocado over took the largest supermarket chain of the country Tesco in terms of market value with investors showing greater confidence in the company. Compared to Tesco’s market value of £21.1bn, that of Ocado is now at £21.7bn…