Featured

Flipkart Acquires Walmart’s Wholesale Business in India

Walmart Inc. (WMT) owned and India based online retailer Flipkart has announced having purchased Indian wholesale business owned by its mother company. Flipkart said the deal will give it increased synergies to compete with giant e-commerce giant Amazon Inc. (AMZN). This deal will strengthen wholesale offerings of Flipkart further allowing it to launch a digital […]

Democratic Senators Warn Over Fitbit Acquisition by Google

A total of seven Democratic Senators have come out cautioning against the deal in which leading search engine Google is planning to acquire producer of fitness products Fitbit Inc. (FIT). According to the senators led by Senators Elizabeth Warren and Amy Klobuchar, the Justice Department needs to review the planned acquisition deal carefully since Google […]

Snapchat Misses Daily Active Users Target by a Whisker in Q2

Widely used multimedia messaging app Snapchat slightly missed its target for daily active users in the second quarter of the year. This information was revealed by the mother company of the app Snap Inc. (SNAP) as it was reporting its results for the second quarter ended June 30. Analysts had anticipated daily active users of […]

EBay Set to Sell Its Classified Ads Unit to Adevinta

U.S based e-commerce Company EBay Inc. (EBAY) is said to be in advanced talks regarding selling its classified ads unit to Norwegian based Adevinta Group (ADEV). The company says it resolved to sell the unit so as to focus on its main marketplace business. The news was first revealed on Wall Street Journal, the deal […]

Chinese EV Maker Xpeng Raises $500 Million

China based electric vehicle manufacturer Xpeng Motors held its latest financing round on 20 July managing to raise a total of $500 million. Among investors who participated in the financing round include Sequoia Capital China, Aspex, Hill House and Coatue. However, the company failed to disclose its valuation after the financing round. It’s now six […]

Ted Sarandos Appointed co-CEO of Netflix

Movie production company Netflix Inc. (NFLX) has promoted its chief of content Ted Sarandos to the position of co-CEO. This promotion now places Sarandos second in command after co-founder and CEO, Reed Hastings. Since the pandemic set foot, Netflix has been gaining a massive number of new subscribers. However, the company says this growth in […]

Google Set to Acquire 7.7% Stake in Jio Infocomm

Leading search engine Google announced it will be purchasing 7.7% stake in Jio Infocomm– the digital unit of Reliance Industries (RELI) for a whopping $4.5 billion. Big U.S tech companies seem to be having an interest in the company, back in April Facebook Inc. (FB) invested $5.7 billion in the digital wing. In return, the […]

HP to Purchase Silver Peak in a Deal Worth $925 Million

Information and Technology Company Hewlett Packard Enterprise Co. (HPE) announced that it will be purchasing Silver Peak Systems– a tech company which largely specializes in developing products for wide area networks. The acquisition deal is believed to cost about $925 million and HP said it will be a cash only transaction. After the deal has […]

Analogue Devices Set to Acquire Maxim Integrated

U.S bases multinational semiconductor Analog Devices Inc. (ADI) is set to acquire its fellow integrated circuit manufacturer Maxim Integrated Products Inc. (MXIM). Sources involved in this matter disclosed that talks of the same are in advanced stages thus anytime a deal might be stricken. Analog devices is looking forward for the deal to help it […]

China Bohai Bank Raises $1.78 Billion in its IPO

China Bohai Bank held its initial public offering in Hong Kong raising a total of $1.78 billion from the event held on July, 9. So far this was the largest amount raised from an initial public offering held in Hong Kong market this year. This information was revealed by insider sources who declined being revealed […]