Category: Technology
olx layoffs: Online marketplace OLX Group lays off 800 employees globally
[ad_1] Online marketplace OLX Group and the classifieds business arm of Prosus (global investment group) on Tuesday cut around 800 jobs globally. According to publication TechCrunch, the move comes as the company begins to phase out activities of its automotive business arm Olx Autos in several areas after a lengthy search for potential buyers and ...
tiktok: TikTok and Candle Media strike deal to co-create content
[ad_1] TikTok and Blackstone-backed Candle Media will co-create content and branded entertainment as part of a broad strategic partnership in the United States, the companies said on Tuesday. A key piece of the partnership will be Hello Sunshine, Reese Witherspoon’s company that Candle acquired in 2021. TikTok will give the production house behind HBO‘s “Big ...
spotify: Spotify plans a more expensive subscription tier with HiFi audio: report
[ad_1] Music streaming platform Spotify Technology is planning a more expensive subscription option that is expected to include high-fidelity audio, Bloomberg News reported on Tuesday. The new tier, called “Supremium” internally, will be the company’s most expensive plan as it aims to drive more revenue and placate investors who have been urging the Swedish company ...
drools funding: L Catterton pumps $60 million into pet food maker Drools at $600 million valuation
[ad_1] L Catterton, a private equity fund backed by Paris-based luxury products giant Moët Hennessy Louis Vuitton, commonly known as LVMH, has invested about $60 million in Drools Pet Food, a Bengaluru-based company. The deal values the 2010-founded pet food maker at $600 million, the company said in a statement. What the money will be ...
netflix: ‘Netflix Effect’ lifts Korean content but market control worries grow
[ad_1] When Netflix co-CEO Ted Sarandos visits South Korea this week he will find an entertainment industry that has achieved global fame through hits such as “Squid Game” and “The Glory”, but also growing worries about its effects on the local market. South Korea has created some of Netflix’s biggest shows, which have become synonymous ...
spacex: SpaceX launches satellite to boost Indonesia internet coverage
[ad_1] Elon Musk’s company SpaceX and Indonesia have launched a satellite from the United States aimed at bringing high-speed internet to remote areas across the sprawling archipelago of more than 17,000 islands. Over a third of Indonesia’s population do not have access to the web, especially in far-flung areas of the world’s fourth most populous ...
rules for space: Murky frontier of rules for the space industry
[ad_1] Elon Musk, Jeff Bezos and Richard Branson are racing to establish a presence in space. But what rights and obligations come with that? It’s not clear what the rules are, even as the $460 billion space industry is growing quickly. Virgin Galactic, the space tourism company founded by Branson, announced Thursday that it would ...
european union: How Europe is leading the global race to regulate AI technology
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Social media: Everyone says social media is bad for teens, but proving it is another thing
[ad_1] There have been increasingly loud public warnings that social media is harming teenagers‘ mental health – most recently from the US surgeon general – adding to many parents’ fears about what all the time spent on phones is doing to their children’s brains. Although many scientists share the concern, there is little research to ...
xylem: Physics Wallah to acquire 50% stake in Xylem for Rs 500 crore over three years
[ad_1] Unicorn edtech firm Physics Wallah will acquire 50% stake in Kerala-based edtech firm Xylem Learning for Rs 500 crore in phases over three years, a top official of the company said on Sunday. The partnership is aimed at strengthening the presence of Physics Wallah (PW) in the southern market. “Physics Wallah will acquire 50% ...