- The company said it expects to employ technology across the growing internet to become the dominant player in AI.
- The company typically invests Rs 200-250 crore every year in intellectual properties or companies building complementary technologies such as Insider, Nearbuy, Loginext, Ticket New, Hungerbox, Night stay, QRQL, and RecruiterGrid.
- The Confederation of the ATM Industry (CATMi) has announced its plans to shut down nearly 50 percent of ATMs due to the high maintenance cost of software and equipment upgrades.
- PayNearby said it has commenced a nationwide launch under its retail network of more than 7.5 lakh retail touch-points across the country.
- The new round is expected to benchmark a new valuation for Snapdeal besides testing if its founders can win investor trust for the business after seeing a significant value erosion, said the first source mentioned earlier.
- Snapdeal had last raised a large round of fresh capital in February 2016, which valued the company at about $6.5 billion.
- The time may have come for India to follow a similar curve for the adoption of SaaS. Three big enabling factors are in place today — electricity, broadband and payment infrastructure.
- Localization needs in terms of language, regulations, business norms, mobile-first usage, are not trivial, and most global SaaS companies do not have the muscle power of Facebook and Google to set up India teams.
- SoftBank last month spent around $10 billion to take control of WeWork, rescuing the company from potential bankruptcy after it failed to complete an initial public offering, which also led to Neumann’s departure.
- Since taking control of WeWork, SoftBank has already installed its chief operating officer, Marcelo Claure, as the executive chairman of WeWork parent The We Company.