Check out all the exciting happenings in the startup ecosystem around the world.
Top Startup Stories of Today:
1. Swiggy: Indian bats for chicken biryani during IPL!
A month into the cricket season, food delivery platform Swiggy has recovered 80-85 percent of its pre-Covid order value. Bangalore, Mumbai, Hyderabad are the most active metro cities while Ahmedabad, Jaipur and Lucknow are the most active tier 2 cities this IPL season.
While Indians cheer for their favorite team this IPL, they prefer to celebrate with their favorite food – chicken biryani, paneer butter masala and chicken fried rice. On the other hand, snacks and sweets like ice cream, samosas and fritters have seen a 15-20 percent increase in the last month.
Earlier this month, Zomato co-founder and CEO Deepinder Goyal tweeted, “Food delivery rates in India have reached a pre-Covid high. Several cities are now over 120 percent of their pre-Covid highs. They also estimated that the food supply sector will grow at around 15-25 percent per month in the future.
2. Flipkart’s Best Value Store opens in Tirupati to serve Kiranas, small businesses.
Flipkart Group’s Best Value Cash & Carry business has opened a new wholesale store in Tirupati, Andhra Pradesh to cater to the needs of Kirana and small businesses, offering a wide range of quality merchandise at competitive prices, with door-to-door delivery. , and convenient payment solutions for the members.
The newly opened store in Tirupati is the 29th best value store in the country across nine states. Kiranas, offices and establishments, hotels, restaurants and caterers (HORECA) are served on a membership model.
Spread over 56,000 square feet, the store will create an estimated 2,000 direct and indirect jobs and contribute significantly to the local and state economy.
3. The government issued a warning to Twitter; It shows a strong resistance to map misinformation
The government shot down a thinly veiled letter to Twitter CEO Jack Dorsey expressing strong opposition to the misrepresentation of India’s map, saying any attempt by the micro-platform would undermine the country’s sovereignty and integrity.
In a strongly worded letter, IT Secretary Ajay Sawhney warned the platform that such attempts would not only bring popularity to Twitter but also raise questions about neutrality and fairness as an intermediary. IT Ministry sources said.
4. Airbnb has partnered with former Apple design star Jony Ive for a “special collaboration.”
Airbnb has hired former Apple design director Jony Ive to work on the home-sharing platform to showcase future products. Having worked with Steve Jobs for decades, Eve founded LoveFrom, designing the iMac, iPod and iPhone before leaving the tech giant in June 2019.
The Silicon Valley legend and his company have been involved in a special partnership with Airbnb, founder and CEO Brian Chesky for several years. Ive also helps Airbnb develop its interior design team.
The announcement comes as Airbnb plans to go public later this year.
5. Facebook launched a dating service in Europe
Facebook delayed its dating service in 32 European countries earlier this year due to regulation. The social media company postponed the launch of Facebook Dating in Europe in February after concerns were raised by Ireland’s Data Protection Commissioner (DPC), the regulator for the world’s biggest tech companies, including Facebook.
Facebook Dating, an opt-in feature within the Facebook app, launched in the United States in September last year. It is currently available in 20 other countries.
In a blog post on Wednesday, Facebook Dating product manager Kate Orsez said users can create a dating profile and delete it at any time without deleting their Facebook accounts.
6. Cyber security company McAfee raised $620 million in US IPO
Cybersecurity firm McAfee Corp sold shares at $20 each in its initial public offering (IPO) to raise $620 million. The IPO saw McAfee, backed by US private equity firms TPG and Thomas Bravo, pay $8.6 billion in total outstanding stock. The company had $4.8 billion in debt at the end of June.
McAfee had planned to sell 37 million shares at a target price range of $19-$22 per share. McAfee declined to comment. TPG in 2010 In 2016, it acquired a majority stake in McEffin from Intel Corp. in a deal worth $4.2 billion, including the company’s debt. Thomas Bravo took a minority stake in McAfee in 2017.
Over the past few years, McAfee has grown its core consumer-focused cybersecurity software business with price increases, new partner programs, and better retention rates.
7. Amazon announces $100 million logistics investment in Mexico: REUTERS
Amazon.com has invested $100 million to open new warehouses in Mexico to offer faster deliveries.
The new sites include two so-called fulfillment centers — one near the northern city of Monterrey and another near the central city of Guadalajara — and a support facility outside Mexico City, in Mexico City.
Amazon has opened 12 distribution centers, bringing its total to 27 across the country.
First published: IS