The revenue for 2020 amassed by the Chinese owner of TikTok, ByteDance, more than doubled, said reports quoting sources with knowledge of the matter. According to the reports, the senior management at the company told employees in a company-wide meeting that it had generated revenue of $34.3 billion in 2020 which marked a growth of…
According to reports in local newspapers in South Korea on Wednesday, the South Korean business of eBay will sold by the American company to local retailer Shinsegae Group’s e-Mart Inc and web portal operator Naver in a deal worth about 4 trillion won ($3.6 billion). According to Euromonitor, with a market share of about 12.8…
The top court of the European Union supported the national privacy watchdogsof thebloc to push ahead with more scrutiny and potential sanctions against Facebook and other Silicon Valley giants even when such watchdogs are not the lead regulators. Citing enforcement bottlenecks, the right of national agencies to act was backed by the EU Court of…
In a statement on Tuesday, Jaguar Land Rover said, it will begin testing a hydrogen based fuel-cell prototype model based on its Land Rover Defender vehicle later this year. The development sees the carmaker expand its zero-emission portfolio. Owned by India’s Tata Motors, earlier this year, JLR said it aims to be entirely electric by…
On Tuesday, Southeast Asian online automotive marketplace Carro said, it has raised $360 million in its latest funding round that was led by SoftBank Vision Fund 2, becoming the region’s latest unicorn. “The valuation for the company is well over a billion dollars,” said Carro, Aaron Tan, the CEO and founder of Singapore-headquartered Carro. Carro…
In a tweet, Elon Musk, Tesla Inc’s CEO said, the electric carmarker will accept bitcoin transactions when miners who verify transactions use more renewable energy. “When there’s confirmation of reasonable (~50%) clean energy usage by miners with positive future trend, Tesla will resume allowing Bitcoin transactions,” said Musk in a tweet. Following Musk’s tweet, the…
News of the long anticipated filing for its stock market listing in the United States was made public by the biggest ride-hailing firm of China, Didi Chuxing. That now sets the stage for what is expected to be the largest initial public offering of the world so far this year. The size of the IPO…
Apple Inc has hired two former executives from two car companies kin a clear indication of the intention of the iPhone maker to enter the car production industry. Apple confirmed the hiring of Ulrich Kranz, a former BMW executive and the recently departed CEO and co-founder of EV startup Canoo. It has been reported that…
Hackers broke into the system of major game publisher Electronic Arts (EA) and stole valuable information, the company said. According to reports, the hackers managed to download source codes for games such as FIFA 21 and the proprietary Frostbite game engine of the company which is the base for many other high-profile games. According to…
A deal for exploring the opportunities in the recycling of wind turbine blades was struck between LafargeHolcim, the biggest cement manufacturer of the world, and General Electric’s renewables business unit. The companies will focus on exploring “circular economy solutions”, according to a memorandum of understanding between the companies. In recent years, there has been increased…
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