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Lerer Hippeau leads $6M investment in Pinterest-like digital asset manager Air - techcrunch

Lerer Hippeau leads $6M investment in Pinterest-like digital asset manager Air

When it comes to the so-called “consumerization of the enterprise,” a workplace tool that looks an awful lot like Pinterest seems like it would be the trend’s final form. Brooklyn-based Air is building a digital asset manager for communications teams that aren’t satisfied with more general cloud storage options and want something that can show […]
techcrunch - 35 minutes ago
Particle lays off 10% staff and co-founder departs after ‘turbulent period’ - techcrunch

Particle lays off 10% staff and co-founder departs after ‘turbulent period’

San Francisco-based startup Particle was one of the rising stars in the Internet of Things space, raising more than $81 million to date on the promise of helping to manage and secure the next-generation of connected devices. But the company is only now emerging from what it’s co-founder and chief executive Zach Supalla called a […]
techcrunch - 39 minutes ago
Chicago’s M1 Finance, a consumer-focused fintech platform, reaches $1B under management - techcrunch

Chicago’s M1 Finance, a consumer-focused fintech platform, reaches $1B under management

Eagle-eyed readers will recall that we mentioned M1 Finance earlier today in our look at a few trends in the fintech industry. We’re back with the firm this afternoon as it has a bit of news that’s worth discussing. Chicago-based M1 Finance announced today that it has reached the $1 billion assets under management mark, […]
techcrunch - 51 minutes ago
‘Konami Code’ creator Kazuhisa Hashimoto has died - techcrunch

‘Konami Code’ creator Kazuhisa Hashimoto has died

Up, up, down, down, left, right, left, right, B, A, then start. Sound familiar? The Konami Code, as this sequence came to be known, is one of the most recognizable artifacts of an earlier era of gaming. Kazuhisa Hashimoto, its creator, has used up the last of his 30 lives. Hashimoto was a programmer at […]
techcrunch - 55 minutes ago
Cartesiam helps developers bring AI to microcontrollers - techcrunch

Cartesiam helps developers bring AI to microcontrollers

Cartesiam, a startup that aims to bring machine learning to edge devices powered by microcontrollers, has launched a new tool for developers who want an easier way to build services for these devices. The new NanoEdge AI Studio is the first IDE specifically designed for enabling machine learning and inferencing on Arm Cortex-M microcontrollers, which […]
techcrunch - 1 hour ago
Twitter opens its ‘Hide Replies’ feature to developers - techcrunch

Twitter opens its ‘Hide Replies’ feature to developers

Last November, Twitter rolled out its Hide Replies feature to all users worldwide. The feature, largely designed to lessen the power of online trolls to disrupt conversations, lets users decide which replies to their tweets are placed behind an extra click. Today, Twitter is making Hide Replies available to its developer community, allowing for the creation […]
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Facebook’s Libra Association adds crypto prime broker Tagomi - techcrunch

Facebook’s Libra Association adds crypto prime broker Tagomi

$28 million-funded crypto startup Tagomi will be the newest member of the Libra Association that governs the Facebook-backed Libra stablecoin, TechCrunch has learned. A formal announcement of Tagomi joining was slated for Friday or next week. Tagomi offers a platform that helps large traders and funds easily access cryptocurrency markets. The news comes days after […]
techcrunch - 2 hours ago
Daily Crunch: Disney CEO Bob Iger steps down - techcrunch

Daily Crunch: Disney CEO Bob Iger steps down

Yesterday was a big day for executive moves, with Bob Iger stepping down as Disney CEO and Keith Block stepping down as Salesforce co-CEO. Meanwhile, Facebook has acquired another VR game studio and the owner of The Players’ Tribune has raised more funding. Here’s your Daily Crunch for February 26, 2020. 1. Disney CEO Bob […]
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Andreessen makes Ribbon Health the first investment from its $750 million new healthcare fund - techcrunch

Andreessen makes Ribbon Health the first investment from its $750 million new healthcare fund

One of the biggest roadblocks to reducing costs in the American healthcare system is the system’s inherent lack of transparency. Most healthcare networks and hospital systems can’t even accurately account for the doctors that they manage and which insurance plans those doctors accept — let alone how good those doctors actually are at providing care, […]
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YC just published a 70-page Series A guide so founders don’t tank their own prospects - techcrunch

YC just published a 70-page Series A guide so founders don’t tank their own prospects

This morning, Y Combinator is publishing a 70-page, Series A guide based on its work with 190 YC companies over the last couple of years. It’s part of an initiative launched in 2018 to help these alums understand how Series A rounds work — and how to make them work to their advantage. The program […]
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Panasonic is ending its solar cell partnership with Tesla - techcrunch

Panasonic is ending its solar cell partnership with Tesla

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Storytelling community Wattpad embraces adult content with new personalization tools - techcrunch

Storytelling community Wattpad embraces adult content with new personalization tools

Wattpad, the online storytelling community that’s home to some 80 million monthly users, has successfully tapped into the power of crowdsourcing to help uncover the next potential hits for media companies including Netflix, Hulu, NBCU, Sony Pictures Television, and others worldwide. It even launched its own YA book line to bring its online stories to […]
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Detroit-based Rocket Fiber acquired by Everstream - techcrunch

Detroit-based Rocket Fiber acquired by Everstream

Rocket Fiber is the latest Detroit startup to be acquired. Today, the company is announcing it was acquired by Cleveland-based Everstream for an undisclosed amount. The founders tell TechCrunch the company was at a “record multiplier for the telecom space.” Under the deal, Everstream is acquiring all of Rocket Fiber’s infrastructure, including its service platforms […]
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Fintech CAC and the Great Credit Card Craze

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LG’s latest has an optional second screen and a headphone jack - techcrunch

LG’s latest has an optional second screen and a headphone jack

One thing you can say for sure about 2020’s smartphone landscape: there’s no shortage of options. Sales have taken a dip in the last few years, causing a number of manufactures to get creative with their offerings. LG’s certainly in that boat. It’s been a less than spectacular few years for the company’s mobile offerings, […]
techcrunch - 4 hours ago
Freshworks acquires AnsweriQ - techcrunch

Freshworks acquires AnsweriQ

Customer engagement platform Freshworks today announced that it has acquired AnsweriQ, a startup that provides AI tools for self-service solutions and agent-assisted use cases where the ultimate goal is to quickly provide customers with answers and make agents more efficient. The companies did not disclose the acquisition price. AnsweriQ last raised a funding round in […]
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Strattic raises $6.5M to bring static WordPress to the masses - techcrunch

Strattic raises $6.5M to bring static WordPress to the masses

WordPress remains the juggernaut of content management systems, even though it now often gets used in ways it was never intended for. And with that, managing the lifecycle of WordPress sites has only gotten more complicated, too, all while hackers are trying to exploit any and all security issues to take control of a site. […]
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Where top VCs are investing in medical and surgical robotics

The medical and healthcare categories have been leading robotic innovation for decades. Look no further than Intuitive Surgical, whose da Vinci robot has been performing surgery since it received FDA clearance in the early 2000s. These days, the SRI spinoff is currently valued at more than $60 billion. There’s a lot of money to be […]
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Here’s what you need to know about Disney’s CEO reshuffle - techcrunch

Here’s what you need to know about Disney’s CEO reshuffle

Disney sent a shock wave through the media industry yesterday upon stock market closing, announcing the immediate shift of its longtime CEO Bob Iger to an Executive Chairman role. Iger said he will leave the company at the end of his current contract on December 31, 2021 and use his remaining time overseeing creative decision-making […]
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Hasura raises $9.9M Series A to simplify GraphQL for developers - techcrunch

Hasura raises $9.9M Series A to simplify GraphQL for developers

Hasura, a startup working to solve developer problems around connecting to databases when using the open source GraphQL tool, announced a $9.9 million Series A investment today. Vertex Ventures US led the round with participation from SAP.iO Fund and existing investors Nexus Venture Partners and Strive VC. A number of angel investors also participated in […]
techcrunch - 5 hours ago
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techcrunch
Vodafone Idea shares tumble 23% after India orders it to pay billions in dues

Vodafone Idea shares tumble 23% after India orders it to pay billions in dues

techcrunch - 1 week ago

Shares of Vodafone Idea fell by more than 23% on Friday after Indias apex court ordered the countrys second-largest telecom operator and Airtel, the third-largest telecom network, to arrange and pay billions of dollars in dues in a month.

In a strongly worded judgement, the Supreme Court rejected telecom networks application to defer paying historic $13 billion levies to the government. “This is pure contempt, 100% contempt,” Justice Arun Mishra told lawyers.

The order today, which may result in U.K. telecom giant Vodafones local joint ventures collapse, saw Vodafone Ideas shares plunge by 23.21%. Vodafone Idea had more than 336 million subscribers as of November last year, according to official figures (PDF).

The company did not respond to a request for comment.

The Supreme Courts order was followed by direction from the Department of Telecoms to pay the dues by the end of Friday. The local ministry of telecommunications also ordered the telecom companies to keep their relevant offices open on Saturday to facilitate payments and answer queries.

In October, the Supreme Court ruled that Vodafone Idea and Bharti Airtel, as well as several other operators, including some that are no longer operational, will have to pay the government within 90 days a combined $13 billion in adjusted gross revenue as spectrum usage charges and license fees.

The Indian government and telecom operators have for a decade disputed how gross revenue should be calculated. The government has mandated the license and spectrum fee to be paid by operators as a share of their revenue. Telcos have argued that only core income accrued from use of spectrum should be considered for calculation of adjusted gross revenue.

Commenting on the ruling, Airtel said that it would pay $1.3 billion by next week and the remainder (about $5 billion) before March 17, when the Supreme Court hears the case again. Its shares rose 4.69% on Friday as the telecom operator is in a better position to pay and the prospects of it being only the second major telecom network to fight Reliance Jio, the top network run by Indias richest man Mukesh Ambani .

In recent months, executives of U.K.-headquartered Vodafone, which owns 45% of Vodafone Idea, have said that the groups telecom business in India would shut shop if the government does not offer it any relief. Vodafone Idea, which is already saddled by $14 billion in net debt, owes about $4 billion in levies to the Indian government.

Vodafone Idea Chairman Kumar Mangalam Birla said in December that the firm is headed toward insolvency in the absence of a relief from the government. “It doesnt make sense to put good money after bad,” he said then.

The last few years have been difficult for telecom operators in India, which arrived in the nation to secure a slice of the world’s second most populous market. But since 2016, they have lost tens of millions of subscribers after Ambani launched Reliance Jio and offered free data and voice calls for an extended period of time, forcing every other company to slash their tariffs.

Sidharth Luthra, a senior advocate at Supreme Court, said in a televised interview that the court is within its rights to reach such a decision, but said that perhaps they should have considered the economic consequences of the ruling that would impact jobs, and could disrupt the everyday lives of people who rely on a networks services.

Vodafone Idea is the top trending topic on Twitter as of early Saturday (local time), as numerous people expressed concerns about the future prospects of the telecom network and worried if the service would remain operational for them.

sauce: techcrunch
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