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OYO said to be in discussions for another Softbank round

Indian hospitality startup OYO has now been reported by various media sources to be in talks of raising another new round which could value the 5 year old firm at up to $4 Billion and mark a notable jump from its most current size having raised well over $400 million in total funding across several rounds as of current.

Reports state of OYO being in talks with Softbank and co-working giant WeWork concerning a funding round which could raise up between $500 million - $1 Billion and may value the company at between $4 Billion - $5 Billion.

Last valued at $850 million from a previous funding round led by Softbank, The Indian hospitality firm has grown to be a major budget accommodation provider to a large number of customers with a current presence in over 230 Indian cities inking notable partnerships with several hotel owners who make use of its service to gain access to more customers.

With over 10 million downloads so far of its app and a large user base, OYO has cemented a status as…

N26 expands to new location in Barcelona

N26 co-founders Valentin Stalf and Maximilian Tayenthal

Fintech startup N26 has expanded its European base by adding a new office in the city of Barcelona where it plans to employ a team of more than 100 engineers and product experts to heavily expand its operations.

N26 which has raised over $200 million for its software which enables users to seamlessly manage various bank accounts through their smartphones and currently has more than 430 employees will be adding Barcelona as its second European office and its third global spot amidst current presence in Berlin and New York.

In addition to this, The company which currently processes over 1 Billion Euros monthly for its 1 million+ customers has also launched its new premium card which comes with so many perks of being an N26 Black membership including insurance which covers things like foreign medical expenses, delayed flights, Luggage Protection and also very interesting ones like a fee $45 monthly WeWork subcription and also huge percentage off deals and coupons on various services.

We would now see how the German based mobile banking tech company which was founded just 5 years ago will move along with its expansion plans as it forays into different global markets, expanding rapidly from its current Euro-Zone presence to huge worldwide locations. 


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Uber adds former NSA General Counsel to lead its security team

Uber Technologies has named former Director of the National Counterterrorism Center Matthew Olsen as its Chief Trust and Security Officer in a new move which marks efforts by the company to boost security for its data crucial global ride-hailing network.

As announced by its CEO Dara Khosrowshahi on Tuesday, Olsen will be replacing former cybersecurity chief Joe Sullivan who left the company after revelations of a massive data breach concerning tens of millions of users was outed and now heads security at web-performance and security startup CloudFlare.

Thrilled to have Matt Olsen on board as #Uber Chief Trust and Security Officer. He has more than earned the respect of our team at all levels while working with us over the last few months - — dara khosrowshahi (@dkhos) August 14, 2018Olsen has served as chief legal adviser to the NSA in addition to holding various leadership positions at government agencies and joined Uber last year as an adviser with him now …

Coinbase's new wallet offers a nice range of cryptocurrency services

Blockchain and crypto trading firm Coinbase has unveiled a new service for its users this time rebranding its decentralized web browser Toshi as Coinbase Wallet as part of larger efforts to put more resources into products aimed at defining the future of the decentralized web.

When launched by Coinbase just over a year ago, Toshi featured the world's first mobile dapp (decentralized apps) browser offering ways of accessing the decentralized web and managing crypto as easy as downloading an app on the mobile phone.

As part of its goals to re-define what users should expect a crypto wallet to be, Coinbase which currently stands as the world's largest digital currency trading service is providing users with several features which include:

A medium to manage ETH and ERC-20 tokens with support for BTC, BCH and LTC in the works.Buying and selling of crypto collectibles.Sending of global payments.Access to major decentralized exchanges for trading of tokens.Reception of airdrops and …

Uber reportedly told by investors to sell its self-driving unit

Ride-hailing giant Uber has been reportedly told by investors to sell its self-driving vehicle unit over mounting losses as per a new piece from The Information which cites an unnamed person familiar with the issue.

Uber's Advanced Technologies Group which comprises of its autonomous vehicle efforts has racked up losses between $125 million to $200 million each quarter for the past 18 months equivalent to between 15% and 30% of its quarterly losses as reported by Uber indicating the unit taken huge investments amid a not yet clear commercialization path.

Over the past 3 years, Uber has invested at least $2 Billion into the unit making efforts to boost its autonomous vehicle base amid competition with the likes of Waymo and several other major self driving startups.

Uber still needs to develop its autonomous vehicle efforts in order to gain a good stand in the long term and would have to figure out ways to court other self driving vehicle developers to its own network and find way…

SoFi said to be seeking credit line of up to $1 Billion

Fintech unicorn SoFi has been reported to be in discussions with local banks aiming for a credit line of up to $1 Billion with the deal said to be precursor to an IPO expected to take place sometime next year.

As per Bloomberg, The SF based company which focuses on online lending even as it makes moves to become a full fledged digital finance firm has approached several financial institutions for a potential loan citing people familiar to the matter.

In the past, SoFi has raised about $150 million in credit facilities in addition to around $1.8 Billion in equity financing which would make it not the first time the company would be taking on a credit line.

Last month, The Wall Street Journal reported of SoFi seeking for a $500 million unsecured credit line geared towards acquisitions but with more expansion as it seeks to offer a vast array of online financial services, It might be tapping into more cash reserves for its operations.

Since taken the position of CEO as the company, form…

Alphabet takes stake in Oscar Health with $375 million investment

NY based healthcare startup Oscar has now gotten a $375 million investment from tech giant Alphabet boosting the total raised by Oscar notable for its health insurance product offerings to about $1.3 Billion across several rounds.

Notably founded by a team consisting of its current CEO Mario Schlosser, Kevin Nazemi and Joshua Kusher (brother of Jared), Oscar has grown to a very good position since its founding 5 years ago garnering backing from the likes of Khosla Ventures, 8VC, Fidelity, General Catalyst, Breyer Capital, Thrive Capital, Goldman Sachs, Stanley Druckenmiller and several notable names, Oscar has grown from just from offering its service to individuals to several business offerings for the healthcare industry.

The New York based startup last raised $165 million prior to this round March this year at a valuation around $3 Billion which remains similar to this one while giving Alphabet a roughly 10% stake in Oscar.

Longtime Google executive and former YouTube CEO Salar Ka…

Kroger and Nuro ride into Arizona with autonomous delivery

Well over a month after announcing a partnership with robo-delivery startup Nuro, Grocery giant Kroger is now bringing self-driving grocery delivery to the state of Arizona with deleveries through Nuro's self driving Toyota Priuses starting this Thursday.

This is the first project for the 2 year old startup launched by two Google autonomous vehicle project veterans which came out of stealth mode with a $92 million funding round announced early this year.

Customers will now be able to order from a single Fry's food location paying a flat robo-delivery fee of $5.95 with no minimum order.

"We're excited to launch our autonomous vehicle delivery pilot with Fry's in Scottsdale," said Kroger Chief Digital Officer Yael Cosset. "Kroger wants to bring more customers the convenience of affordable grocery delivery, and our pilot with Nuro will help us test and learn to understand customer acceptance of autonomous vehicles in our seamless offering"

Nuro's …

Ucommune said to be aiming for $200 million funding round and IPO as early as next year

On the heels of a $43.5 million funding round which valued Ucommune, The 3 year old Chinese co-working startup at $1.8 Billion, A new piece from Bloomberg states of the WeWork China rival aiming to raise $200 million in total in a Series D funding round with the company also aiming for an IPO which could take place as early as next year likely on the Hong Kong stock exchange.

Ucommune has stood as a major co-working startup in the Chinese region heavily funded with well over $400 million so far in funding from several notable Chinese investors having grown to a stated 160 locations in over 35 cities servicing over 150,000 individual members and 8,000 enterprises in total as per the company.

Commenting on the just recently concluded funding round, Mao Daqing, The company's founder and CEO said "The concept of coworking has evolved tremendously over the last two years to one that compasses traditional rental, bespoke design, community networking and new retail. Ucommune has ev…

DoorDash raises another $250 million in funding at a $4 Billion valuation

Food delivery startup DoorDash just six months after taking on a Softbank led $535 million round has nabbed another $250 million in funding from DST and Coatue Management, This time nearly tripling its previous valuation with the San Francisco based startup now being valued at $4 Billion.

This brings the total raised by DoorDash to almost $1 Billion across several rounds for the firm which counts other notable backers including Sequoia, Kleiner Perkins, Y Combinatorial and Khosla Ventures.

Since January, DoorDash's geographical footprint has nearly doubled to 1,000 cities across the U. S. and Canada and is on pace to reach 2,000 cities by the end of this year.

Growing 250% year-over-year, It has added more top restaurants to its platform in addition to a notable grocery delivery partnership with retail giant Walmart which has expanded to nearly 300 stores across 20 U. S states in the last four months.

As it takes on intense competition from the likes of UberEats and Postmates in …

Tinder co-founders and top employees sue parent company Match Group for $2 Billion

Tinder, The successful dating app on pace to earn $800 million in revenues this year has seen quite a bit of action as its co-founders and top executives are suing the parent company, Internet conglomerate Match Group over allegations that it cheated them out of billions of dollars worth of stock options by "manipulating financial information, undermining Tinder’s valuation, and unlawfully stripping away their Tinder stock options."

The plaintiffs involved in this lawsuit include Tinder co-founders Sean Rad, Justin Mateen, and Jonathan Badeen, Three of its current executives with the rest being former executives and directors.

They accuse IAC/InterActiveCorp and its and its Match Group subsidiary of stealing billions of dollars from its employees by making use of "deception, bullying, and outright lies" lowering Tinder's value when dishing out options to them.

As per the lawsuit, Written contracts between IAC and Tinder's employees required the service to …

Kroger teams up with Alibaba to sell groceries in China

U.S.'s largest grocery chain Kroger is now making moves into the international market for the first time ever partnering with Alibaba on a pilot online store test in China launching a store on the Chinese e-commerce giant Tmall's global site offering initial products including organic goods, dietary supplements and private-label products.

Kroger has made long and vast efforts partnering with several technology firms to expand its grocery services having taken actions on autonomous delivery along with collaborations with startups to offer digital integrations for its brick-and-mortar grocery service.

The grocery chain is making these moves to boost growth and keep up with rapidly increasing competition from new ventures with Amazon's Whole Foods being a major contender.

In an interview with the Wall Street Journal, The company's chief digital officer Yael Cosset stated “Growing into the Chinese market is a huge opportunity for Kroger and we are really excited,”. An Ali…