EBay Leads A $133.7 Million Investment In An Indian Shopping Site
eBay recently announced its decision to lead a new round of funding worth $133.7 Million in Indian shopping site, Snapdeal. The multinational online corporation will raise its stake following the first investment they made last year.
Snapdeal is a marketplace for apparel and electronics. It was founded in 2010 with a similar industry like Groupon. It later turned into an online e-commerce place where thousands of businesses list different products for sales.
According to Jay Lee, eBay’s senior vice president and APAC managing director, the accelerating growth in India and other emerging markets continues to be a core strategy for driving eBay’s global e-commerce leadership. The company is looking forward the prospect in Snapdeal and eBay.
Latif Nathani, the managing director of eBay India said that the eBay’s partnership with Snapdeal will benefit businesses of all sizes, consumers, and local commerce.
This new investment from eBay is one of the largest capital raises by an Indian digital commerce venture.
‘Ghostbusters’ Star And Comic Legend Harold Ramis Dies At 69
When there’s something strange in the neighborhood, there’s now one less person to call, as comedy legend Harold Ramis, best known for his role in the hit “Ghostbusters” films, has died. He was 69.
A Comic Personality
Ramis, whose impressible comic personality shone through in the variety of his works, passed away Monday, February 24, from complications of autoimmune inflammatory vasculitis, a rare disease that involves swelling of the blood vessels, according to his wife Erica Mann.
“His creativity, compassion, intelligence, humor and spirit will be missed by all who knew and loved him,” Ramis’s agent said in a written statement.
Beloved Actor and Director
Ramis’s big break in Hollywood came in 1978 when he co-wrote the blockbuster comedy “National Lampoon’s Animal House.” He went on to co-write “Stripes” (1981), “Ghostbusters” (1984) and “Ghostbusters II” (1989), films in which he also co-starred.
He co-wrote and made his directorial debut with “Caddyshack” (1980), followed by “National Lampoon’s Vacation” (1983). His most recent works include directing episodes of “The Office.”
“Deeply saddened to hear of the passing of my brilliant, gifted, funny friend, co-writer/performer and teacher Harold Ramis,” his “Ghostbusters” co-star Dan Aykroyd wrote on Facebook. “May he now get the answers he was always seeking.”
“He earned his keep on this planet. God bless him,” said Bill Murray in a statement.
Venezuelan Beauty Queen Is Another Victim Of Political Unrest
Venezualan beauty queen, Genesis Carmona, died of a bullet wound in the fifth fatality from the country’s political unrest, as imprisoned opposition leader Leopoldo Lopez urged supporters to keep fighting for the departure of the socialist government.
College student and model Carmona was shot in the head during a protest. She was then rushed to the hospital and placed in the Intensive Care Unit at the Guerra Méndez clinic in Valencia.
“We confirm that Miss Tourism Carabobo Genésis Carmona has passed away from a gunshot to the head, while protesting yesterday in Valencia,” reported the country’s daily El Universal.
“We deeply lament to have to say that our Génesis Carmona has just passed away after receiving a gunshot to the head yesterday. Our condolences to her family,” Miss Carabobo organization also confirmed Carmona’s death on its official Facebook page.
Tensions have risen in the country since Lopez surrendered to troops after spearheading weeks of demonstrations against the government.
Twitter Predicts Slower Growth In Sales And User Base
Twitter had a strong start last year in its first financial report, but their outlook for 2014 proved disappointing, causing a drop in their stock in the after-hours trading.
The microblogging site’s sales had a 116% increase from last year with $243 million, easily toppling the Wall Street analaysts’ prediction of $218 million before.
Nonetheless, Twitter pegged its expected sales at only between $230 and $240 million. Although this is double of last year’s earnings, it is still lower than the previous quarter. This is the first time that Twitter’s quarter-over-quarter sales fell since its first revenue report in 2011.
As a result, the shares were down by almost 18%.
The social network has reported a net loss of $511 million in the quarter, and it is yet to earn some profit. Most of the loss, however, was due to the cash out of their employees’ stock-based compensation.
Twitter is also experiencing a slowdown in user growth.
Pirate Bay Founder Detention Extended As Investigation Continues
The Pirate Bay founder Gottfrid Svartholm’s detention received a four-week extension due to a court’s ruling. This is due to the ongoing investigations of the alleged hacking activities of Svartholm, as the prosecution still continues.
“The investigation is not over. It is a very extensive and complex hacking case. Police don’t have a clear picture yet of what has happened with (sic) the stolen files. Investigations suggest that the downloaded files are partly located on servers abroad,” prosecutor Maria Cingari said during the closed-door hearing.
Svartholm is accused of infiltrating data from the mainframe computers of IT company SC, which included police records and drivers’ licenses.
The Pirate Bay founder has continuously denied his involvement in the Danish hacking activity. His plea of “not guilty” still stands. He argues that someone must have accessed his machine to carry out the data breach.
In Sweden,an earlier case of the same charges against Svartholm resulted in his acquittal.
North Korea Imitates Apple’s Mac OSX
North Korea is making an effort to keep up with the times, as the country revealed its new operating system.
N. Korea OS goes all Mac
Screenshots of Red Star Os have recently surfaced, which is strikingly similar to Apple’s Mac OSX platform. Before, the operating system had a look that is closely copied from Microsoft’s Windows.
The country’s national operating system is installed on computers found mostly in schools and libraries.
North Korea Tech, a blog that covers computing and technology in North Korea, published images of Red Star OS 3.0, noting that the software is based on the open-source operating system Linux.
Despite the extreme poverty suffered by a large number of its citizens, North Korea does have its share of modern technology.
Many people do have access to technology including mobile phones. These, however, are heavily restricted.
Access to Internet, for instance, is locked down. Most users are able to visit only a handful of websites.