Category: Business
Jack Ma, the popular Chinese e-commerce magnate and co-founder of China’s largest e-commerce company Alibaba, will be reportedly surrendering his ownership of the legal entities of Alibaba Group Holding Ltd., in China. As disclosed by the Securities and Exchange Commission, the change is being made …
The Mondelez-owned chocolate-maker, Cadbury has recently announced plans to shed 40 jobs from its Hobart factory, in Tasmania, Australia. As per credible sources, Mondelez said that it will be replacing its redundant workers with new high-performance machineries worth USD 20 million, used for precisely wrapping …
Chinese tech giants Tencent Group and Alibaba have reportedly launched remittance services that would enable cheap and easy money transfers for workers from Indonesia and the Philippines. As per reliable sources, both the companies have taken the first step towards a global remittance business that …
Darktrace, the Britain-based cybersecurity start-up, has reportedly raised $50 million in a funding round with the firm now being valued at $1.65 billion. As per trusted sources, the investment was led by Vitruvian Partners, a European private equity firm, and is supported by current investors …
Instagram founders, Kevin Systrom and Mike Krieger, have reportedly announced to have resigned from the company, which is now owned by Facebook Inc. As per trusted sources, the duo has decided to take some time off to explore their curiosity and creativity again and that …
One of the biggest supermarket groups in France Carrefour has reportedly denied having approached opponent Casino for a plausible partnership. As per trusted sources, Casino claimed that its board had collectively agreed to reject a tie-up approach from Carrefour. The difficulties being presently faced by …
Adobe Systems Inc., has recently announced that it is buying Marketo, a marketing software selling firm, for USD 4.75 billion. Reportedly, the acquisition marks Adobe’s largest deal ever, while elevating it to compete directly with its competitors including Salesforce, HubSpot, SAP, and Oracle. According to …
Samara Capital, a private equity firm, and Amazon have reportedly inked a deal to buy More, which is Aditya Birla Retail Ltd.’s (ABRL) food and grocery retail chain. Sources familiar with the matter said that Samara has grabbed a majority stake of 51 percent, while …
