1st February 2018 | Daily Business Digest
#Indian Startup News
• Budget gives thumbs down to cryptocurrencies; to explore use of blockchain in Budget 2018; Agritech, logistics & supply chain startups to benefit from govt collaboration; No clarity on angel tax yet
• iNurture raises Rs 28 crore from Ventureast and existing investors Bertlesmann & Ascent capital
• O2O global brand for toilet hygiene PeeSafe has raised $1 Mn in a fresh round of funding by issuing CCD to expand to US and South Africa
• Walmart is reportedly in advanced talks to acquire a significant minor stake in Amazon’s arch-rival in India, Flipkart
• BrowserStack is finally moving on from being bootstrapped to landing a $50 Mn Series A funding from Accel Partners at a $400-500mn valuation
• Reliance Jio warns public against fake JioCoin apps
• Top Myntra seller Tech Connect Retail’s revenue soars from Rs 1.3cr to Rs 2.5k cr in one year
• GSMA appoints former Trai exec Manoj Misra as public policy head for India
• Samsung to hire 2500 engineers for AI & machine learning in India’s R&D offices
• Microsoft gets govt nod to bring Indian public sector firms on the cloud
Funds news:
• Infosys cofounder SD Shibulal has set up EduMentum, an Edtech incubator launched in partnership between his Advaith Foundation and Mantra4Change
• Anthill Ventures’ early-stage tech fund plans first close in April
• IVCA seeks easier norms on the lines of Obama's JOBS Act to attract more investors
Around the world:
• Facebook beats Q4 revenue expectations, now has 1.4 billion daily user with the lowest QoQ % daily user growth ever
• Amazon, Berkshire, JPMorgan partner to form a new healthcare company
• American Express has acquired Mezi, a personal travel assistant app, for an undisclosed amount
• SpaceX’s rocket booster survived descent despite no landing attempt
• Equifax launches its credit locking app and extends free credit freezes through June
• EBay Q4 falls slightly short on sales of $2.6B, EPS in line at $0.59, full-year revenues of $9.6B
• WhatsApp hits 1.5 billion monthly users
• PayPal sees 24% revenue growth in its latest quarter; shares fall on outlook
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