 "From Flipkart's $1.4 bn funding to Uber scandal: Your weekly tech update")
Jack Ma’s VC firm invests in his own company and Flipkart’s latest round may change India’s ecommerce scene as we know it. When will the Uber scandals end?!
Here’s a snapshot of last weeks’ news in sentences:
Remember Uber’s “God View”? Well, they also had a secret software that tracked the location of Lyft’s drivers; codename “Hell”. (Amir Efrati / The Information [Paywall])(James Vincent / The Verge)
Riding off Uber’s bad press, Lyft raises $600M at $7.5B valuation. The Uber rival saw a 60 percent week-on-week increase in new user registration following the #DeleteUber campaign. (Darrell Etherington / Techcrunch)
Amidst waves of scandal, Uber head of comms quits. Her replacement — an ex-Googler with a political communications background. (Kara Swisher / Recode)
For a moment, Tesla became the most valuable automobile company, overtaking General Motors in market cap for a day. Electric car naysayers have been schooled. (Tim Higgins / Wall Street Journal)
While people are hoping H1B visa restrictions will bring talents home to India, Indian tech billionaires are suffering as tech stocks plummet. (Saritha Rai / Bloomberg)
India gets shiny new stuff
Flipkart raises its biggest round of $1.4 billion from Tencent, eBay, and Microsoft.What does this mean for India’s ecommerce industry? (Malavika Velayanikal / Tech in Asia)
Google launches a new food delivery and home services app in India, collaborating with local startups UrbanClap, FreshMenu, and Faasos. (Malavika Velayanikal / Tech in Asia)
eBay officially bows out of India. The company’s India business merges with Flipkart in exchange for equity. (Sumit Chakraberty / Tech in Asia)
This is an excerpt from the article published on Tech In Asia. You can read the full article here
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