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Walmart To Get Funds For Flipkart Deal By Next Year!

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Walmart Get Funds For Flipkart Deal,Startup Stories,Startup News India,Latest Business News 2018,Walmart Flipkart Deal,Walmart Funding News,India Largest Online Retailer,Walmart Flipkart Deal Latest News,Flipkart Business News,Largest E-commerce Deal


The Walmart-Flipkart deal which was making headlines earlier this year caught everybody’s attention but, there’s more to the story. The homegrown e commerce firm Flipkart is yet to get the final funds from Walmart. Though the deal is finalized but the funds Walmart Inc., has to give is currently pending as the US retail giant is busy arranging the funds to zip up the deal. According to reports, the retail titan would close the acquisition of a 77 % stake in India’s largest online retailer Flipkart in 2019 i.e, next year.  Walmart had earlier claimed that it will close the deal by the end of 2018. Apparently, Walmart doesn’t seem able to fulfill the demand this year. However, if it fails to arrange the amount by next year, it will have to repay a significant portion of the bond issue. A March 9, 2019 deadline has been set in the share purchase agreement between the two companies around which the termination rights have been negotiated, as per a regulatory filing made in May.

A Walmart spokesperson said Walmart is working with the authorities in India and we are hopeful of timely approval. We are still expecting closing later this calendar year, subject to regulatory approval. The date in the 8 K filing on June 21, 2018, is related specifically to the bonds we recently issued. According to both the firms the proposed transaction does not give rise to competition concerns and the relevant market for the partnership is the pan-India market for B2B sales.

Apart from the fundings, there is another twist in the tale! A huge number of retail and trader groups are protesting with regards to the Walmart-Flipkart deal. About 10 lakh traders would take to the streets as they hold a nationwide protest. The protest is being organised by trade body Confederation of All India Traders (CAIT) and is likely to draw participation from the RSS affiliated Swadeshi Jagran Manch. The protest is expected to be a sit-in across 1,000 spots in 500 cities.  The CAIT also filed a petition during the end of May with the anti-trust regulator CCI, objecting to the Walmart-Flipkart deal, citing the reason that such a merger would lead to predatory pricing and deep discounts among others. The Secretary General Praveen Khandelwal, of CAIT said we expect the government to intervene and take suitable action in accordance with various announcements of Prime Minister Narendra Modi to uplift small businesses in the country. This deal will directly affect small traders of the country who will not be able to compete with Walmart.

Walmart-Flipkart deal is one the largest acquisitions of all time. Can we expect more such deals? Share your views in the comments section below!

 

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Facebook Finally Launches Messenger Rooms Which Accommodates 50 People And Unlimited Video Calls

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Facebook Finally Launches Messenger Rooms Which Accommodates 50 People And Unlimited Video Calls

The lockdown and quarantine measures implemented in multiple countries meant that people could not commute to work or go outside for social gatherings.  This scenario hugely benefited video calling and conferencing platforms and applications.  Zoom, Skype, Facetime, Google Hangouts and Houseparty have seen a phenomenal spike in daily active users.  Facebook has joined the club by finally upgrading its messenger capabilities.  

Facebook Messenger is a chatting and video calling application developed by Facebook.  Facebook is finally introducing a new feature in messenger named Messenger Rooms.  The free feature will allow Facebook and Messenger users to create group video calls of up to 50 people, contrary to the eight people limit available currently.  The Messenger Room does not require a Facebook account and works similar to the Zoom meeting rooms.  Participants can join the room by clicking on a link.

ALSO READ: Zoom Video Conferencing App Downloads Dethrone Whatsapp And TikTok In India

The rooms do not have any time limit which lets people converse indefinitely.  There are a slew of other features like augmented reality filters, normal filters, virtual masks and a feature to lock the rooms.  Facebook also announced that it is doubling WhatsApp’s video call person limit from four  to eight people as well.  However the Messenger Rooms feature is not immediately available and Facebook will roll the feature out slowly in all the regions it operates.

In a company blog post,Facebook said that 700 million accounts participate in calls everyday between Facebook and WhatsApp.  Once Facebook announced this news, shares of the video calling company Zoom fell down by 5%.

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How This Bangalore Based Augmented Reality Startup Helped Contain Wuhan Covid-19 Outbreak

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How This Bangalore Based Augmented Reality Startup Helped Contain Wuhan Covid-19 Outbreak

When news about a new type of virus broke out, the world was not ready for what was to come.  The Novel Coronavirus or COVID-19 virus originated in Wuhan province of China. This is now established as the  epicenter/epicentrum that quickly paralysed the entire Country, before the virus spread to other countries.  Currently, the virus spread to almost every nation on the planet with Italy, Spain, America and Germany being some of the worst affected countries.

The virus seems to have finally subsided in Wuhan and life is slowly returning back to normal.  However, when the virus was at its peak, ventilators were the need of the hour. The virus affects the respiratory system and symptoms include difficulty in breathing.  Beside the lockdown which played a part in controlling the spread of the virus, ventilators supplied by Huber & Ranner, a German company played a vital role in combating the illness.  

However, the technical team could not travel from Germany to Wuhan in order to install the ventilators and demonstrate how to use them.  This is where a Bangalore based startup BlinkIn, stepped in to the rescue. According to reports, BlinkIn developed an augmented reality (AR) product named Scotty to provide visual guidance to the technicians in Wuhan.  They did this based out of their office in Pocking,Germany. All that the technicians in Wuhan had to do was to click on a link to see a visual demonstration.

Scotty was unlike the other AR products available currently and what makes it special is its simplicity of use and the ease of deployment.  Scotty uses WebGL, a JavaScript API(Applications Programming Interface,) to render graphics on to a compatible browser. Chief Executive Officer and co-founder of BlinkIn, Harshavardhan Kumar says “WebGL lets you access a mobile phone’s GPU (graphics processing unit) to run computer vision algorithms. That’s how we bring AR experiences through the Web rather than a mobile app (sic.)”   All the technicians at Wuhan had to do was point their phone screen at a ventilator and an installation point, and the AR markers helped indicate how to set the ventilators up as a technician walks through with instructions over voice communication.

The idea behind Scotty was to use lightweight technology in order to provide just enough AR support to get the job done ‘then and there.’  Scotty requires minimal computational power unlike traditional AR, which relies heavily on heavy downloads, graphics processing units and figuring out how to use it.

It is truly wonderful to see how different technologies are adapting to these uncertain times and it will certainly be interesting to see how AR can be merged into other technologies as well in the future.

 

ALSO READ: Coronavirus Pandemic Testing Startups By Disrupting Supply-Demand

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How The Tech Industry Is Coming Together To Fight The Coronavirus Pandemic

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How The Tech Industry Is Coming Together To Fight The Coronavirus Pandemic,Startup Stories,Tech companies could face more pressure to share location,Tech Industry,Tech Industry Latest News,The Tech That Could Be Our Best Hope for Fighting COVID-19,The Biggest Business Impacts of the Coronavirus Pandemic

We live in a time when technology has taken over the world.  No matter what the problem, there is always a startup or a tech giant coming up with a solution.  There is no doubt that technology has elevated the quality of life across the globe and has increased life expectancy all over the world.  However, we are currently living in an extraordinary time when the entire world and stock markets are being brought to its knees due to a virus of the physical kind.  The virus which originated in the Wuhan province in China, has quickly spread like wildfire across the globe due to its exponential growth and transmission rates. World governments are enforcing quarantine measures in order to combat the spread of the virus.  As quarantine measures are taking effect, corporations and businesses have come up with innovative ideas to ensure their work stays on track and have implemented work from home options.

The unforeseen threat of the Novel Coronavirus crippled the stock markets around the world so much so that it is being compared to the great economic depression that shook the world in the 1930’s.  However technology companies are coming together to offer whatever assistance they can to help combat the Coronavirus.

 

Microsoft:

Microsoft has always prided itself on being one of the largest technology companies in the world for more than two decades.  Microsoft was always on the forefront of innovation and Bill Gates visionary leadership was a vital contributor for its growth.  In these testing times Microsoft’s communication application Team has seen a huge surge in its usage. The chat and conferencing app gained more than 12 million daily users in one week as more people worked from home during the coronavirus outbreak.  Microsoft understood that healthcare providers and hospitals are under extreme stress and therefore rolled out several features designed to help with telemedicine and employees working from home, such as a bookings application for Teams to help hospitals manage virtual appointments.  

Facebook:

Facebook is a social networking platform which boasts of having a whopping 2.36 billion active users on its platform.  This makes it a very powerful tool to communicate and spread information quickly. However, this also means a lot of misinformation and myths can be spread as well.  Facebook usually has a team of moderators verifying information going online on its platform and checking to see if the information meets their community guidelines. In these testing times, misinformation is spreading at an alarming rate and therefore Facebook is considering the usage of Artificial Intelligence to do the job of a moderator in order to combat wrong information being spread about the Coronavirus.

Twitter:

Microblogging platform Twitter is one of the quickest ways to search for information online from all over the world. A verified Twitter user tagged Jack Dorsey and asked him why popular and esteemed epidemiologists, contagion experts and virologists do not have a verified account which is indicated by a blue tick on their profiles.  Paul Graham, the cofounder of Y Combinator retweeted the original post and asked Jack why Twitter is not verifying the accounts of contagion experts as their expertise is the need of the hour. Jack Dorsey was quick to acknowledge Paul Graham’s tweet and has called for users to help Twitter in identifying public health experts.

Alibaba:

Alibaba’s founder Jack Ma has pledged an extraordinary amount of resources to help the world out in this crisis.  Jack Ma donated face masks, safety suits and virus testing kits to Japan, Iran and Italy. Italy and Iran in particular have seen the highest cases of Coronavirus outside of China.  In the latest update, Jack Ma pledged more support to some of the poorest countries in Asia.  

In this time of crisis, it is heartwarming to see businesses putting profits aside for the moment and instead focus their efforts on helping humanity as a whole.  As the whole Coronavirus pandemic sees its course, there will no doubt be countless stories of humanity winning all over the world.  

 

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