FLIPKART VALUED AT $37,6 BILLION IN NEW $3,6 BILLION FUNDRAISE
Flipkart has raised $3.6 billion at a post-money valuation of $37.6 billion in what is widely believed to be the pre-IPO round for the Indian e-commerce conglomerate.
The Indian online retailer was valued at $37,6 billion. The new round of funding — by far the largest for any Indian startup — was led by GIC, Canada Pension Plan Investment Board (CPP Investments), SoftBank Vision Fund 2 and Walmart.
TIKTOK WILL AUTOMATICALLY DELETE VIOLENT VIDEOS
The platform will automatically remove sexual content, as well as videos containing violent and illegal activities. It is noted that the frequency of false alarms with automatic removal is 5%.
The social network will have a new way of notifying authors of violations of the rules. The system will calculate the violations that the user has accumulated based on their severity and frequency.
FRANCE FINES GOOGLE €500 MILLION OVER COPYRIGHT ROW
The antitrust regulator in France fined Google €500 million for refusing to pay the media to use their headlines in Google News.
The penalty was imposed because the company had ignored a previous regulatory decision that required Google to enter into a content agreement with news sites.
THE CHINESE PLATFORM SHEIN SURPASSES H&M AND ZARA IN SALES IN THE USA
Shein became the largest retailer of fast fashion products in the United States, growing by 160% in the first half of the year. As of June, the company accounted for 28% of sales.
It overtook H&M (with a share of 20%), Zara (11%), Forever 21 (10%) and Fashion Nova (8%). In comparison, Shein’s share of total sales was 13% in early 2021.
INDIA BANS MASTERCARD FROM ADDING NEW CUSTOMERS
Reserve Bank of India has indefinitely barred Mastercard from issuing new debit, credit or prepaid cards to customers in the South Asian market over noncompliance with local data storage rules.
The new restrictions will go into effect on July 22. Visa, Mastercard and several other firms, as well as the U.S. government, have previously requested New Delhi reconsider its rules
SOCIAL MEDIA RESTRICTED IN CUBA AMID WIDENING ANTI-GOVERNMENT PROTESTS
Cuban authorities restricted access to a number of social media and messengers, including Telegram, WhatsApp, Facebook and Instagram.
Government blockades were triggered by mass protests in the city of San Antonio de los Baños, which began last Sunday.
ALIBABA AND TENCENT REPORTEDLY PLAN TO OPEN UP SERVICES TO EACH OTHER
Alibaba and its arch rival Tencent are considering opening up their services to each other, a move that is expected to help spur greater competition and offer more convenience for consumers
Currently, the consumer internet of China is split into two camps built around both Alibaba and Tencent. For example, customers cannot use Tencent’s payment system to buy goods on an Alibaba platform.
75% OF IOS 14.5 USERS DO NOT GIVE APPS PERMISSION TO TRACK THEIR BEHAVIOUR
Loss of user data affects advertising targeting: platforms can no longer accurately identify potential clients of companies.
“Apple’s policy is hurting the ability of businesses to use their advertising budgets efficiently and effectively, and the limitations being created are driven by Apple’s restrictions for their own benefit,” — Facebook spokesman said. remedies.
MARKETPLACES ACCOUNTED FOR 42% OF THE GLOBAL ONLINE SHOPPING MARKET
Amazon accounts for 14% of the volume of online purchases, Mercado Libre — 5%, and other marketplaces — 23%.
Before COVID-19, about 40% of consumers said that they had never bought products online, now there are only 19% of them.
INDIAN DIGITAL PAYMENTS GIANT PAYTM FILES FOR $2,2 BILLION IPO
The firm is backed by Alibaba (which, alongside Ant Financial, owns 36% of Paytm), Berkshire Hathaway and SoftBank (owns about 18% stake) among others.
Paytm has also said it may raise up to $268 million in a pre-IPO round.