StartUps

Goomo acquires B2B vehicle rental website WagonBee

By : CIOL Writers

Goomo, an omnichannel travel tech firm has announced the acquisition of WagonBee, the Noida based B2B vehicle rental website. The details of the acquisition were not announced by both the companies. Varun Gupta, CEO, Goomo, said, “The acquisition of WagonBee will

Snap lays off around two dozen employees amid slow user growth

By : CIOL Writers

Snap is laying off around 24 employees, according to reports from The Information and Cheddar. The reports stated that most of the layoffs have been from Snap’s team of human editors on its content team, though Cheddar reports some Snap

Grab acquires Bangalore-based payments startup iKaaz

By : CIOL Writers

On-demand transportation and mobile payments platform in Southeast Asia, Grab has acquired Bangalore-based payments startup iKaaz. iKaaz’ mobile payments platform and its experienced leadership team is expected to accelerate feature development and partner integration of GrabPay, Grab’s payments platform. Launched

Paytm Payments Bank appoints Nitin Chauhan as the new CISO

By : CIOL Writers

Paytm Payments Bank announced the appointment of Nitin Chauhan as its new Chief Information Security Officer(CISO). According to the company, Chauhan will be responsible for the company’s information security initiatives, setting up and enhancing the firm’s enterprise security strategies, infrastructure, and

Instacart acquires Canada-based Unata

By : CIOL Writers

Instacart has announced the acquisition of Unata, a Toronto-based startup that specializes in making and tracking digital coupons and circulars. The company is also developing a voice-activated tool to allow customers to purchase goods online from midsize retailers using devices

Softbank invests €460M in car dealer platform Auto1

By : CIOL Writers

Japanese conglomerate SoftBank has agreed to invest €460M ($561 million) in Berlin-based online car dealer Auto1. The investment will be made through Vision Fund, a $93bn technology fund that SoftBank and its founder Masayoshi Son manage. Berlin-based Auto1, founded in 2012, buys

InMobi acquires mobile video ad startup AerServ for $90M

By : CIOL Writers

Mobile advertising platform InMobi has announced the acquisition of Los Angeles-based startup AerServ for $90 million. The acquisition of AerServ will help InMobi increase its monetization for publishers globally and also enhance InMobi Exchange, a premium mobile pragmatic platform. We’re excited

Fintech startup NiYO raises $13.2M to boost expansion plans

By : CIOL Writers

NiYO Solutions, an emerging fintech startup for salaried employees, has raised $13.2 million (Rs 85 crore) in Series A funding to drive the continued expansion of its payroll and benefits platform in India. The investment was made by Social Capital,

Lendingkart raises money from Dutch Development Bank

By : CIOL Writers

Lendingkart has raised Rs 30 crore in non-convertible debentures (NCDs) from Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden NV (FMO), a Dutch development bank that invests in growth and frontier markets. “With a committed portfolio of 9.8 billion euros, FMO is one of the

Oculus and Xiaomi partner to launch VR headsets

By : CIOL Writers

Facebook-owned Oculus announced a partnership with Xiaomi to build the Oculus Go standalone VR headset. In addition to the Oculus Go headset, Xiaomi will also be developing a second VR headset called Mi VR Standalone, which will be exclusively available

Volkswagen and Hyundai partner with Aurora to develop self driving tech

By : CIOL Writers

Three ex-employees from Google, Tesla, and Uber, who came together to form a startup Aurora Innovation, have now teamed up with Volkswagen and Hyundai to develop self-driving car technology. Aurora Innovation is the brainchild of Chris Urmson, who was the former

GoPro lays off nearly 300 employees from its drone division: Report

By : CIOL Writers

GoPro has decided to lay off 200-300 employees, mainly from its Karma drone division, according to a report from TechCrunch. The company has sent out a letter to these employees in which the company stated that they are restructuring “to better

Verizon acquires Niddel to boost threat detection capabilities

By : CIOL Writers

Verizon has acquired privately-held company Niddel to boost its security detection and response mechanism for enterprise customers. Terms of the transaction were not announced. Niddel offers machine-learning-based automated threat hunting and its advanced technology and services will soon be integrated into, and

PayUMoney to shut down its wallet service by the end of Jan’18

By : CIOL Writers

Online payment service provider PayUMoney is shutting down its mobile wallet service to focus more on credit-based product LazyPay to push its consumer-facing business. The wallet service will be closed by January 31, 2018, and users have been asked to

Airbnb wins lawsuit against Aimco over unauthorized leases

By : CIOL Writers

A California judge has dismissed Aimco’s (Apartment Investment & Management Company) lawsuit against Airbnb that alleged that the company was deliberately incentivizing people to breach their leases. The company filed lawsuits in California and Florida state courts, seeking monetary damages

Uber finally closes SoftBank’s multi-billion dollar investment

By : CIOL Writers

Uber has finally closed a multi-billion dollar investment deal led by Japanese conglomerate SoftBank. In a process known as a tender offer, which allows outsiders to buy shares in a private company at a mutually agreed upon price, some Uber employees,

Lendingkart raises Rs 25cr in cash credit facility from SBI

By : CIOL Writers

LendingKart has raised Rs 25 crore in cash credit facility from State Bank of India. As the company expands its reach to over 950 cities across the country , these funds will come in handy to widen Lendingkart Finance’s offerings to SMEs

Sheroes acquires Delhi-based child healthcare startup Babygogo

By : CIOL Writers

In a bid to deepen its presence among the female population in the country, women-focused career platform- Sheroes has acquired Delhi-based child healthcare startup Babygogo. “Babygogo has some of the best engagement numbers and a high empathy community. It has also demonstrated

Uber to sell its auto leasing business to Fair.com

By : CIOL Writers

World’s largest ride-hailing firm Uber is selling its auto leasing business Xchange Leasing to automotive Fintech company Fair.com for an undisclosed amount. The news was first reported by Wall Street Journal, citing people familiar with the matter. Xchange Leasing, which partners

HQ Trivia is finally coming to Android

By : CIOL Writers

HQ Trivia, the live trivia app is finally coming to Android. Created by Vine co-founders Rus Yusupov and Colin Kroll, the app was previously available on iOS. Android users can pre-register to download the app on Google Play Store. HQ