Slack In India, ONDC, Ecommerce, Meta COO, Binance, Whatsapp, Gaming
- Slack launched in India, will set up a “digital HQ”
Workplace collaboration platform Slack was launched in India and is looking to take over the market as Indian companies return to office work and hybrid working. Media reports that its survey of 2,000 Indian ‘knowledge workers’ revealed a strong preference for flexibility in terms of time and location, and the company said its service will enable this for workers in a drastic context. high attrition and “talent wars”. [Read more]
- Cooperatives can now be part of GeM as buyers, says government
Cooperative societies registered in India can be part of the GeM (Government Electronic Marketplace) portal. They are now authorized to obtain and sale products through the online market. This is presented as a decision to benefit the sellers by gaining access to a wider clientele and allowing members of the cooperatives to obtain supplies at competitive prices. As customers of goods, cooperatives will in turn benefit micro and medium enterprises, according to the government. [Read more]
- Sheryl Sandberg steps down as Meta COO after 14 years
Sheryl Sandberg, Meta’s No. 2 executive who joined in 2008 and led its advertising business since its inception while facing the heat for the social media platform’s policies and decisions, has stepped down after 14 years. She was with the company through some of its most public controversies, including Cambridge Analytica (2017) and the Capitol Hill “riot” of 2021. [Read more]
- Binance Raises $500M for Web3 and Blockchain Investments
Binance’s venture arm, Binance Labs, has raised $500 million for a fund that will invest in Web3 and blockchain development. A number of private equity funds contributed to the increase. CEO Changpeng “CZ” Zhao said the purpose of the fund is to “discover and support projects and founders with the potential to build and lead Web 3 across DeFi, NFT, games, Metaverse, social, and Moreover”. [Read more]
- Meta says EU antitrust probe looks like ‘a giant fishing trawler’
Meta Inc., owner of Facebook’s marketplace and data, said the EU antitrust body’s investigation resembled “a giant fishing trawler”, implying it is too broad and indiscriminate. , asking the agency about its data requests. Facebook was first asked by the European Commission to obtain data on Facebook Marketplace, social networks and online classifieds. [Read more]
- Tim Horton violated users’ privacy by stalking them, Canadian authorities say
Fast food chain Tim Horton has been found guilty of breaching privacy and user data protection laws by the Privacy Commissioner of Canada. The company “failed to properly design intrusive technology, resulting in a massive invasion of the privacy of Canadians,” the federal privacy commissioner said. Users’ location was tracked and updated frequently and was used to display targeted advertisements. [Read more]
- WhatsApp blocks 16.66 lakh accounts in India in April
Meta-owned messaging app WhatsApp said in its monthly report that it blocked 16.66 lakh accounts in India for violating its terms of service. He also received calls on 670 accounts and 122 were reinstated. The decision is made based on user reports and blockages. The report is mandatory under the 2021 IT rules and must detail actions taken against users on social media platforms, particularly if accounts are banned. [Read more]
- Airtel, Jio, VI to challenge Facebook and Google with proprietary ad-tech platforms
Indian telecom companies Reliance Jio, Bharti Airtel and VI (Vodafone Idea) are set to enter the digital advertising space in India, which media reports are expected to grow by 30% by the end of 2022 , and challenge existing giants Google and Facebook, citing a report from e4m-Dentsu. Airtel Ads, Jio Ads and Vi Ads are the ad-tech arms of Indian telecom giants which together have 1.16 billion users. [Read more]
- Indian banks lined up for government’s e-commerce project ONDC
The Indian government has touted the Open Network for Digital Commerce (ONDC) as a way to break Walmart and Amazon’s dominance of the domestic e-commerce sector, is in talks with banks to set up platforms for buyers. These banks include Axis Bank, PNB, ICICI, HDFC and other lenders. Fintech company Paytm has already joined the ONDC and Google is currently in talks, according to Reuters. [Read more]
- Apple overtakes Nintendo and Microsoft in gaming revenue in 2021
In what may seem counter-intuitive to many, Apple Inc. would have earned more revenue from gaming than Microsoft and Nintendo in 2021. $15.3 billion from this vertical. Tencent, owner of PUBG and League of Legends, earned $32.2 billion, followed by Sony’s $18.2 billion. [Read more]