Softbank’s global investment vehicle Vision Fund will also be participating in this funding round. As per a source with knowledge of the matter, Japan’s Softbank is expected to announce a $1 billion investment in Colombian delivery app Rappi. SoftBank’s investment in Rappi, marks its first from the newly created Latin America focused Innovation Fund. As…
Alphabet stocks fell by at least 7 per cent after the US tech giant announced a sharp drop in its ad revenue growth. The fall has been blamed on an algorithm in YouTube which caused lower engagement and consequent lower growth in revenues on the site, said Alphabet’s CFO Ruth Porat. “While YouTube clicks continue…
According to a report published by TechCrunch, German auto maker Daimler plans to stop selling its all-electric smart fortwo cars in the U.S. and Canada and introduce it in China. This decision was taken by the company after the small car failed to leave a mark in the North American market. TechCrunch has reported that…
The global chip market which apparently has softened considerably, after years of booming growth, hit the first-quarter net profits of South Korean electronic giant Samsung Electronics hard. The biggest smartphone and memory chip maker of the world reported a slump in profits for the most recent quarter. The company reported a 56.9 per cent year-on-year…
Apple’s own guidance for the second quarter is that its sales would be down year-on-year and it is widely expected to announce this when its reports its second quarter performance soon. All through the year, there has been in the negative headlines. For example, a drop in iPhone sales in China forced the company on…
With the aim of loosing dependency on western aircraft manufacturers and because it is set to soon become the largest aviation market in the world, China has been striving to develop its own plane manufacturing industry for the past decade. However there has been criticism of the aircrafts created by Commercial Aircraft Corporation of China…
The rival companies of Starbucks are aiming for making short term gains through concessions while the US based company is making and implementing strategies aimed to make long term gains that would help it to achieve sustainability, said the company’s CEO Kevin Johnson. “Some of those competitors are competing through heavy, heavy discounts that we…
There would be continued negative impact on growth in the near term because of Brexit related uncertainties, warned Royal Bank of Scotland (RBS) as it reported a fall in its profits for the first three months of the current fiscal year. The bank reported a 12.5 per cent year on year decrease in the profits…
A case has been filed against a company based in Upper Hutt and three individuals based in NewZealand by Facebook and Instagram in a United States court alleging that the accused helped others in the creation of Instagram followers that were fake. The company called Social Media Series Limited has a registered address on McCarthy…
Despite the preparation by the social media giant for the payment of a record-setting penalty for settlement of privacy issues with the U.S. regulators, Wall Street seemed to care less as the company announced increased number of users and heightened profit expectations for the first quarter of the current year. Facebook has been facing probes…
