The government on Friday tweaked IT rules to pave the way for setting up of grievance appellate panels, which will settle issues that users may have against the way social media platforms initially addressed their complaints regarding content and other matters.
ShareChat on Thursday said it has raised $502 million (about Rs 3,725 crore) in funding led by Lightspeed Venture Partners and Tiger Global, valuing the homegrown social media platform at over $2.1 billion. Snap Inc (which owns photo-messaging app Snapchat) and existing investors Twitter and India Quotient, among others, also participated in the funding round in Mohalla Tech, the parent company of ShareChat and short video app, Moj. Founded in 2015, Mohalla Tech has raised over $766 million across six fundraising rounds.
Alphabet Inc's Google has paid Rs 33,737 crore for a 7.73 per cent stake in Reliance Industries Ltd's (RIL) digital subsidiary, Jio Platforms Ltd, joining the list of global investors such as Facebook, billionaire Mukesh Ambani's firm said. The transaction also marks the US technology giant's biggest-ever investment in an Indian company. With this, Jio Platforms has raised a total of Rs 1.52 lakh crore by selling nearly 33 per cent stake to 13 financial and strategic investors in just 11 weeks.
Partnership between Israel and India is doing wonders, the visiting prime minister tells business leaders.
India's tweaking of IT rules allow formation of Centre-appointed panels, that will settle often-ignored user grievances against content decision of social media companies, Minister of State for IT Rajeev Chandrasekhar said, adding that this was necessitated due to the "casual" and "tokenism" approach of digital platforms towards user complaints so far.
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The eight-year-old online messaging service gave potential investors their first glance at its financials on Thursday when it publicly filed its IPO documents, setting the stage for one of the most-anticipated debuts in over a year.
The shutdown was the longest in recent memory, and prompted US Securities and Exchange Commission Chair Mary Jo White to call for a meeting of Wall Street leaders to help insure the 'continuous and orderly' functioning of securities markets.
The Parsi community runs India's respected corporate houses like the Tata, Wadia and Godrej groups.
While it is heartening to see companies chipping in with their messages of support, they are probably walking a tightrope here.
The Karnataka high court on Friday quashed the notice issued to Twitter India Managing Director Manish Maheshwari by the Uttar Pradesh police, seeking his personal appearance as part of its probe into a communally sensitive video uploaded by a user on Twitter platform, saying it was issued by mala fide.
Shortage of top engineering talent in Silicon Valley is inflating paychecks.
It came as a surprise to all stakeholders - competing telecom companies (telcos), most analysts and even the government's internal projections on revenues from the 5G auctions. Reliance Jio disrupted all calculations by paying a stiff Rs 40,000 crore to buy 10 MHz of spectrum in the 700-MHz band, globally considered a key band for efficient 5G service coverage, along with the default 3.5 GHz band and the ultra-high speed and low-latency millimetre band of 26 GHz band. So what made Jio pay almost 45 per cent of its total spend in this auction for the 700 MHz band - much more than what it rustled up even for the 3.5 GHz band?
While the investment amount could not be immediately ascertained, a report pegged it at about $2 billion.
Record equity divestment by the Reliance Group in its telecom and retail businesses garnering around $23 billion revved up the deal street in 2020, which otherwise would have gone down as one of the dullest on record, and dealmakers are seeing sunnier days in 2021 given the large scope for consolidation in a slew of sectors ravaged by the pandemic. With Jio Platforms alone garnering over $16 billion (Rs 1,18,318 crore) by selling 25.24 per cent stake and Reliance Retail notching up $6.4 billion (Rs 47,265 crore) by divesting around 9 per cent shareholding, the deal street signed off with $85 billion in the deal kitty across 1,270 transactions. This is higher by about 10 per cent over 2019. What is significant is that over a third of the total deal value came from Reliance transactions, say investment bankers.
Before it backtracked, Twitter had said Thursday that the change was meant to protect victims of harassment who wanted to filter out abusive messages but feared that the act of blocking a user would prompt retaliation.
Modi has often been accused of promoting crony capitalism in Gujarat for his proximity to certain businesses.
Sports fans and players across the world frustrated by cancelled matches because of the coronavirus epidemic are turning to e-sports, with professional real-world athletes joining virtual game tournaments of football, auto racing and basketball.
When the Delhi police served him a notice in May for a case involving tagging some political leaders' tweets as carrying manipulated media, a spirited Maheshwari said he was employed by Twitter Communications Private Limited, and not Twitter Inc, and, therefore, could not help them. The authorities were understandably not pleased.
Brands in India are finding newer, more innovative ways to engage with a wider audience during festivals. But they still have a long way to go before they match global campaigns.
Board of Control for Cricket in India's Chief Executive Officer Rahul Johri says the revenue generation from the upcoming Indian Premier League's media rights auction could be "historic".
Annualised staff attrition rate at Infosys rose to a record 20.1 per cent in the September quarter.
These 22 bizarre photos are perfect examples of the weird and sometimes hilarious world we live in.
A dedicated jazz club is just what Kolkata needed to get things going. And Skinny Mo's has announced its arrival to the enthusiastic city.
Fast cars, marathons, golfing and shooting - nothing stops these high-power tycoons from pursuing their passion.
Industry analysts were broadly excited at the prospect, but sceptical that it could produce a working model at a mass-market price that soon.
'While we may speculate about personality politics, the reality is that there are more important issues that drive the India-US relationship.'
New government should consider reforming taxation rules.
Zuckerberg is kicking off a tour of Europe on Monday.
As India gets ready to roll out one of the largest vaccine programmes, billionaire Mukesh Ambani on Tuesday said his group is working with authorities to provide technology tools and backbone for mass inoculation against COVID-19. Ambani's telecom venture Jio was rolled out four years back, offering free voice calling and dirt-cheap data. Today, Jio is India's largest telecom operator with over 400 million users, each connected to the internet. At a Facebook event, Ambani said the government's digital push kept the country running even during the pandemic and is now helping in the rollout of one of the largest vaccination programmes.
First a scientist and then a businessman, founder chairman Krishna Ella quit his faculty position at the Medical University of South Carolina in Charleston, United States, in 1996 to return to India.
In a major blow to Nirav Modi, a bankruptcy court in the US has rejected a petition of the fugitive diamond merchant and two of his associates, seeking dismissal of fraud allegations against them by the trustee of three companies they previously owned indirectly.
High net worth individuals slowly warm up to US market; however, financial planners generally discourage such dabbling
IT minister Ravi Shankar Prasad on Wednesday slammed Twitter for deliberate defiance and failure to comply with the country's new IT rules, which has led to the United States giant losing its intermediary status in India and becoming liable for users posting any unlawful content.
Modi will address a rally to boost BJP candidate Smriti Irani's chances.
A woman who sleeps with a man she just met signals that she has low self-esteem or that she is actually only using him for sex, says Solene Paillet.
He replaces Mark Pincus, the founder of the company.
Investments are at risk if operators are unable to resolve concerns of authorities and customers after the rape accusation.
It's seen as a signal that he wants to engage with India Inc at a time when the economy has started looking up.
After Michelle Obama and Lady Gaga, golfer Tiger Woods has become the latest celebrity to get his own unauthorised biography in a comic book.
An Indian born software engineer at Google Inc. has announced that the company will now provide search results from the most recent events and hot topics.
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