BENTONVILLE, Ark., BENGALURU, India, Aug 18, 2018 - Walmart Inc and Flipkart Group (Flipkart) today announced the closing of the agreements for Walmart to become the largest shareholder in the Flipkart Group. Our investment will benefit India by providing quality, affordable goods for customers, while creating new skilled jobs and opportunities for suppliers. With the completion of the investment, Walmart now holds approximately 77 percent of Flipkart. Walmart's investment includes $2 billion of new equity funding to help accelerate the growth of the Flipkart business.
Days after receiving the green light from the Competition Commission of India (CCI), US-based Walmart said it had completed its $16-billion acquisition of India's largest e-commerce firm Flipkart. In a statement, Walmart said Flipkart's existing management team led by CEO Kalyan Krishnamurthy will continue to lead the business. Existing investors Tencent Holdings Ltd and Tiger Global Management will remain represented on the Flipkart board, Walmart said.
It lets users to save video, follow channels and hide videos option (block) from any broadcaster. Presently, it seems like Facebook is testing it for a major chunk of overall Android-powered phones in India. Based on one's video consumption pattern on Facebook, it curates personalised feed of original videos. Meanwhile, over the past two years, OTT space in India has been crowded as many players jumped on video streaming bandwagon.
Mobile gaming publisher Nazara Technology seems to be eyeing to become a one-stop destination for game lovers. After creating a sensation in the online gaming segment with several acquisitions and fundraising, the Mumbai-based firm is looking to tap the offline market. Marking its fourth investment this year, Nazara has picked up 10 per cent stake in virtual gaming startup InstaSportz Consultancy.
Musk says he has endured 'the most difficult and painful' time in emotional interview as confession wipes billions off Tesla value. Elon Musk has said the past year of his professional life has been excruciating and that stress over his business had caused his health to deteriorate. This past year has been the most difficult and painful year of my career, he said in the interview. Tesla's shares fell close to 9% on Friday, wiping over $5bn off the company's value.
After giving a tearful interview to The New York Times, Tesla Chairman and CEO Elon Musk sat with popular You Tuber Marques Brownlee for a chat, revealing his plans for a mass-market electric vehicle priced as low as $25,000. If we work really hard i think maybe we could do that in three years, Musk replied to Brownlee on Friday. Musk also expressed a desire to improve production to the point where Tesla can make two cars at once, said the report.
After focusing on Indian tech startups, Chinese Internet conglomerate Alibaba has shifted towards decades old corporates and is planning to invest in companies like Reliance Group, Tata Group and Future Retail. In past two years, a major chunk of online retailers in India have realised that scale in India can't be built without strong offline support. Over the past several years, Alibaba has adopted an 'online-to-offline' model in China to support the unorganised and small to medium retail business.
This week only 11 startups received funding, of which eight received a total sum of about $115 million. Meanwhile, funding for three of the total funded startups remained undisclosed. EazyDiner: Online table reservation startup EazyDiner has raised $5.8 million in funding led by Denlow Investment Trust and early-stage investment firm Beenext. Inthree Access: Rural e-commerce startup Inthree has raised $4 mn in a Series A funding led by Ventureast.
Sharing his views on the draft ecommerce policy, Kant said, Overall, ecommerce has the potential to generate a vast number of new jobs in the economy. On the other hand, Indian ecommerce startups continue to unlock many potentials as the sector grows -staying apt with emerging technologies. The $16 Bn Walmart-Flipkart deal for 77% stake is so far an ice-breaking deal in the world's ecommerce domain.
Patanjali seems to be a great believer of try and try until you succeed - it has announced the revival of the Kimbho app, which is ready with new features to be launched on August 27. In a tweet, Patanjali Ayurved's Managing Director Acharya Balkrishna said: Kimbho app is now ready with new and advanced features. Patanjali had launched the Kimbho app amid much fanfare on May 30 as part of a test run.
While these numbers are stark, they do little to fully capture just how devastating a breast cancer diagnosis is for women and their loved ones. Cant says that EVA is not only an easy tool for self-screening but also fills in gaps in current screening technology. Today, women have fairly limited options when it comes to breast cancer screening. We need to identify a real-world solution to diagnosing breast cancer earlier, said Dr Kaszynski.
The company, which advertised heavily on Facebook, logged $71 million in revenue in 2017. Movado purchased the company for $100 million. The acquisition of MVMT will provide us greater access to millennials and advances our Digital Center of Excellence initiative with the addition of a powerful brand managed by a successful team of highly creative, passionate and talented individuals, Movado Chief Executive Efraim Grinberg said.
Mutiny, which is part of the current batch of startups at accelerator Y Combinator, helps business-to-business, software-as-a-service companies present a message that's customized to each visitor on their website. There are A/B testing tools, but Razaei argued that they're really designed to test generic content and use very little audience intelligence. As for creating your own personalization tools, many companies will find that it requires way too much engineering effort. Mutiny can help surface the right content or the right message for the right customer.
As government regulation for commercial drone usage seems to be trending in a very positive direction for the companies involved, there is an ever-growing opportunity for drone startups to utilize artificial intelligence to deliver insights without requiring much human effort. The software also allows the drones to get much closer to the large structures they are scanning so the scanned images are as high-quality as possible. Sterblue says their system can detect defects as small as one millimeter in size.
Cryptocurrency projects can crash and burn if developers don't predict how humans will abuse their blockchains. Incentivai will graduate from Y Combinator next week and already has a few customers. They can either pay Incentivai to audit their project and produce a report, or they can host the AI simulation tool like a software-as-a-service. Incentivai explores those illogical trading strategies so developers don't have to tear their hair out trying to imagine them.
When we started Drishti, we wanted to scale, said Anjali Joshi, co-founder of the startup that won the Social Enterprise award at the ET Startup Awards on Friday. The aim is to cover every disctrict of Karnataka in three years, said Drishti chief executive Kiran Anandampillai. The company offers pre-diagnosis tests, image capturing of the eye, and uses cloud data to connect doctors and patients via video calls.
The Bengaluru and Bay Area-based analytics services and solutions provider Tredence has won the Bootstrap Champ Award in the ET Startup Awards 2018. The startup's vision is to bring meaningful analytics to desktop computers and handheld devices of every business decision-maker through simple solutions and self-service design. It has created pre-built business solutions and frameworks in sales, marketing, and supply chain using artificial intelligence and machine-learning.
India's data policy laws should consider the local problems and refrain from mimicking the western nations, said Sachin Bansal, co-founder, Flipkart, at the ET Startup Awards 2018. Bansal, one of the early Indian entrepreneurs, said the country's data protection laws should factor in the existing business environment here and have a balanced approach. Another prominent entrepreneur, Bhavish Aggarwal, chief executive officer of ride-hailing company Ola, said how the policies can facilitate data empowerment.
Manthana processes visual medical data from different devices, and can train, validate and execute artificial intelligence and machine-learning powered models to flag abnormalities that need further medical investigation, and detect diseases. The metrics provided by the platform are supported by visual evidence, which eliminates the need for medical experts to be physically present for examinations. Currently, SigTuple is using Manthana to provide solutions for automated analysis of peripheral blood smears.
From building drones for intercollege competitions to designing them to capture meaningful data for government agencies and large corporate clients, Skylark Drones has come a long way. Skylark's high-resolution drone data and on-demand insights empower customers to take decisions to plan, manage and monitor their assets. Mughilan Thiru Ramasamy and Mrinal Pai of RV College of Engineering in Bengaluru founded Skylark Drones in 2014. A year later, the company received Rs 2 crore in funding from a clutch of angel investors.