BENGALURU (Reuters) – Amazon.com Inc AMZN.O has invested 7 billion rupees ($95.51 million) in its Indian payments unit, ahead of the festive season, data from business intelligence firm Tofler showed.
Amazon will begin its festive season sales on Oct. 17, and has been trying to encourage payments through Amazon Pay with cashbacks and other rewards.
Both Amazon and Flipkart offer deep discounts on everything from clothes, smartphones to home appliances ahead of key Hindu festivals Dussehra and Diwali.
In July, Jeff Bezos-led Amazon.com had invested 23.10 billion rupees in Amazon Seller Services and early this year announced a $1 billion investment to bring more than 10 million small businesses online in India by 2025.
Amazon, billionaire Mukesh Ambani-led Reliance Industries RELI.NS and Walmart Inc’s WMT.N Flipkart are in a
Over the years, billionaire entrepreneur Jack Dorsey has cultivated a reputation as one of the more unconventional leaders in business, with his daily ice baths, weekend fasts, and devotion to Stoic philosophy.
Now his company Square is following in his footsteps with an unconventional investment. The Silicon Valley-based payments platform is buying 4,709 bitcoins—worth $50 million, or roughly 1% of Square’s total assets.
“Square believes that cryptocurrency is an instrument of economic empowerment and provides a way for the world to participate in a global monetary system, which aligns with the company’s purpose,” the company said in a statement Thursday.
Although unusual, the investment isn’t hugely surprising, as it was likely driven by Square founder and CEO Dorsey—who’s been a vocal advocate for cryptocurrency. In 2018, he told attendees at Consensus, an annual conference for cryptocurrency and blockchain enthusiasts, “The internet is going to have a native currency. So let’s
Payments platform Square has purchased $50 million in bitcoin, part of its larger investment in cryptocurrency, the company announced on Thursday. Square bought a total of 4,709 bitcoins, which the company says represents about 1 percent of its total assets as of the end of the second quarter.
Square said it was making the purchase because it believes “bitcoin has the potential to be a more ubiquitous currency in the future,” calling cryptocurrency “an instrument of economic empowerment” that “provides a way for the world to participate in a global monetary system.” Square has accepted bitcoin as a form of payment since 2014.
Jack Dorsey, CEO of Twitter and Square, has long been a proponent of bitcoin, saying in 2018 that he believes it will eventually become the world’s single currency within the next decade. Dorsey, who also owns an undisclosed amount of bitcoin personally, said during an earnings call
Performance technology company Hyperice has completed a Series A funding round for $48 million, which puts the firm at a $700 million valuation, CEO Jim Huether told CNBC this week.
The funding round includes a list of prominent athlete-investors, including National Basketball Association stars Anthony Davis, Chris Paul, Russell Westbrook, DeAndre Jordan and new Philadelphia 76ers coach Doc Rivers.Tennis star Naomi Osaka, who won the 2020 U.S. Open, is also an investor.
MessageBird, a cloud communication platform spanning AI-powered contact center software and APIs for developers, has raised $200 million in a series C round of funding led by Spark Capital. The company has now raised a total of $300 million and is valued at $3 billion.
The Netherlands-based company is perhaps best known for its Twilio-like platform that enables app makers and enterprises to add messaging, voice, SMS, and email functionality to their products through an API (application programming interface). This spares them the resource-intensive task of developing communications infrastructure and makes it easier for companies like Uber to offer text- and voice-based communication features inside their apps.
MessageBird has also been broadening its horizons. Back in March, the company launched Inbox, a cross-channel contact center platform touted as the “Slack for external communications.” Inbox allows companies to receive inbound customer service requests from messaging apps, SMS, voice, and email
The U.S. Navy awarded Science Applications International Corp. (NYSE: SAIC) a $49.5 million single-award task order to continue to provide the Royal Saudi Naval Forces support services for command, control, communications, computers, and intelligence, surveillance and reconnaissance (C4ISR) upgrade and refurbishment. Work will take place in the Kingdom of Saudi Arabia.
Under the cost-plus fixed-fee task order, awarded as part of the SeaPort-NxG contract, SAIC will leverage repeatable solutions such as engineering, design and integration, integrated product support and sustainment capabilities on critical networks. These networks fulfill the Naval Information Warfare Systems Command’s requirement for Program Executive Office C4I International Integration Program Office (PMW 740) Royal Saudi Naval Forces (RSNF) In-Kingdom of Saudi Arabia (KSA) Support Services.
“For more than 40 years, SAIC has supported the Navy’s mission to help maintain the Royal Saudi Naval Forces’ C4ISR capability modernization, engineering and logistics,” said Jim
Future Energy Ventures, a venture capital platform that invests in the digital technologies and digital business models redefining the energy landscape, has launched with €250 million invested capital in its portfolio. The new fund is the venturing and collaboration platform of the energy company E.ON investing in digital and digitally enabled technologies that have the potential to redefine the future energy landscape – providing funding, mentoring and connections to accelerate their growth trajectory.
The launch of Future Energy Ventures follows the completion of E.ON’s acquisition of innogy and brings together an enviable level of expertise and experience in investing and scaling future energy focused start-ups from across the E.ON and innogy venturing teams to create an industry leading venturing platform.
The fund, which is led by Ines Bergmann-Nolting and Jan Lozek, focuses on digital, scalable and asset-light businesses transforming the energy ecosystem seeking Series A and
The lawyers who pursued the Apple Batterygate case are set for a massive $88 million payout.
Owners of various iPhone models had until this week to enter a claim for compensation from Apple for the Batterygate scandal, in which Apple admitted to hampering iPhone performance to improve battery life on its devices. Apple has never admitted any wrongdoing, but has agreed to pay a settlement of up to $500 million.
The Fairness Hearing is set to be heard in the District Court for the Northern District of California on December 4, where it should be decided how much each claimant will receive. Consumers with affected iPhones may be awarded up to $500 per handset, although the payout is likely to be much lower.
A recently designed space toilet that better accommodates women has landed at the International Space Station. The new loo was packed inside a cargo ship that successfully blasted off Friday evening from NASA’s Wallops Flight Facility on Wallops Island, Virginia, and arrived Monday. The astronauts will give the toilet a test run for the next few months.
Weighing almost 100 pounds (45 kilograms) and measuring 28 inches (71 centimeters) tall, the new toilet is about half as big as the two Russian-built toilets already in use at the ISS. This new toilet is 65% smaller and almost half as light than current ISS toilets in use.
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The new, smaller toilet will be able to fit into the NASA Orion capsules, which will