9th January 2018 | Daily Business Digest
#Indian Startup News
#1. Mobile Gaming Studio Nazara Technologies Acquires NextWave
Mumbai-based mobile gaming studio Nazara Technologies has acquired a majority stake in NextWave Multimedia. With the acquisition of NextWave, Nazara strengthens its portfolio of offerings in the virtual interactive sports genre in India and other emerging markets.
#2. Paytm Payments Bank Partners With IndusInd Bank To Offer Fixed Deposit
After committing to invest $466.5 Mn (INR 3000 Cr) in the next three years to create a network of 10K offline consumer banking touchpoints, Paytm Payments Bank has now partnered with Induslnd Bank to introduce a facility that creates a fixed deposit when customer balance exceeds $16K (INR 100K) at the end of day.
#3. Delhi Based IT Company Newgen Software To Launch $71 Mn IPO Soon
New Delhi-headquartered Newgen Software Technologies is reportedly gearing up to launch an initial public offering (IPO) later this month. Through the move, the IT company is aiming to raise a total of $71 Mn (INR 450 Cr).
#4. WiFi Services To Be Installed At All 8.5K Railway Stations By March 2019
Stepping up the Digital India Initiative, the Indian government now aims to equip all existing railway stations with fast WiFi service. Dubbed as ‘RailWire’, the service is currently limited to select A1, A and some B listed stations only. While the immediate goal is to install RailWire in 600 stations by March 2018
#5. IAN Looks To Raise $38 Mn For $70 Mn Fund-I From India, Overseas
Indian Angel Network (IAN) has announced to raise $38 Mn funding from Indian as well as overseas markets to fuel the second round of funding for its $70 Mn Fund-I. IAN has already raised $32 Mn as part of its Fund-I.
#6. Uber In The Process Of Relaunching Auto Service In India
Amidst its struggle to find the missing piece for success in the Indian ecosystem against homegrown rival Ola, Uber is currently in the process of relaunching its auto service, UberAuto.
#7. Karnataka Govt. To Extend Funding Support To Tech Startups Across India
The Karnataka government has announced plans to launch a fund for tech startups in the country. During a recent media interaction, the state’s IT Minister Priyank Kharge invited startups from across India to register in Karnataka.
#Crypto News
#1. South Korean Banks Face Scrutiny Over Crypto Exchange Ties
South Korea’s financial regulators began inspecting commercial banks to monitor their compliance with new cryptocurrency exchange rules.
#2. SEC Branch Trolls Blockchain Stock Pumpers
The Securities and Exchange Commission’s Fort Worth branch joked about the recent fad of companies adding “blockchain” to their names on Twitter.
#3. SEC Suspends Trading of UBI Blockchain Following ‘Unexplained Market Activity’
#4. SEC suspends trading of a zero revenue Blockchain company with a market cap exceeding $800 mn. The regulator cites “unusual and unexplained market activity.”
#5. ViaBTC Announces Shutdown of Crypto Mining Contract Market
Chinese bitcoin mining pool ViaBTC has announced that it will close its marketplace for mining contracts this week.
#6. Vermont Could Collect Taxes in Crypto Under Proposed Law
A state legislator in Vermont has proposed a bill to create a regulatory framework for blockchain tech, including a transaction tax payable in crypto.
#7. Cryptocurrency Market Takes a Tumble as Ripple Bubble Fear Looms
#Tech News
#1. Facebook Bug Could Let Advertisers Get Your Phone Number
#2. Uber re-launches autorickshaw service in India
#3. Florida phishing attack exposes data for 30,000 Medicaid recipients
#4. L.A.’s new recycling program has more than 28,000 complaints for missed trash pickup
#5. Latest Essential Phone update brings fixes for Spectre and Meltdown
#6. LG Display unveils 65-inch rollable 4K OLED TV
#7. Nintendo is now selling its colorful Splatoon 2 Joy-Con controllers separately
#8. Verge (XVG) is misunderstood but it’s about to change everything
#9. iPhone SE 2 will feature glass back, possibly for wireless charging
#10. Android Pay and Google Wallet Have Merged to Become ‘Google Pay’
#11. Whirlpool announces Apple Watch will be able to control more than 20 connected appliances
#12. Apple releases iOS 11.2.2 security update for iPhone and iPad
#13. Facebook just struck a deal with Sony’s music division to let users share music videos
#14. Toyota and Pizza Hut are teaming up to make self-driving cars that could deliver pizza
#15. SpaceX launches secretive US government payload code-named Zuma
#16. DJI Osmo Mobile 2 impresses with affordable price tag and long-lasting battery
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