Here are top trending news from the world of technology and business. News that we feel every business and tech enthusiasts should keep a tab on.
1)
Twitter brags about anti-bot efforts, Musk replies with Poo emoji
After Elon Musk decided to stall the Twitter deal due to spam account, CEO Parag Agarwal took to the microblogging platform to defend his company. In a long thread, Agarwal defended his company’s efforts to control the problem of spammy accounts. He even confirmed that spammy accounts did not account for more than 5%. To this long thread, Musk responded back with only ‘poo emoji.’ Yes, you heard it right. The outspoken Tech billionaire replied back nothing apart from ‘poo emoji.’ In other words, Musk was not really impressed by Agarwal’s long reply.
2)
LIC, India’s biggest ever IPO, makes unimpressive debut at Dalal Street
The bloodbath on the stock market clearly seems to have impacted India’s biggest ever IPO. This after LIC stocks got listed on the Bombay stock market at a discounted price. The LIC’s stock got listed at Rs 867, which is almost 8% discount from its IPO price of RS 949. However, analysts are upbeat that the stock prices will recover and will trade well above the IPO price in coming days. The Insurance giant managed to raise nearly Rs 21,000 crore through this public issue.
3)
Jack Ma exits from Paytm Mall with heavy losses
Jack Ma’s bet on India’s e-commerce industry has turned out to be a loss-making venture. Jack Ma’s two companies Alibaba and ANT Group sold 43% stake in Paytm Mall for only Rs 43 crores. Both companies were forced to sell their stake at a highly discounted price after significant drop in Paytm Mall’s valuation. The e-commerce company is currently valued at merely $100 Mn, a far cry from the $3 Bn valuation it commanded only a few years back.
4)
Uber to add electric cars and party bus option to its platform
Very soon Uber will allow customers to book electric cars and even party buses from its platform. Uber also announced that its food delivery company UberEats will start using drones for making deliveries. The company made these ambitious announcements at its product event on Monday. However, Uber customers shouldn’t be getting too excited about these announcements. This is because the ride-hailing company may not start these services immediately. It may take a few months for the company to start these services.
5)
Spotify is experimenting with NFTs
Streaming giant Spotify is the latest company to be hit by the NFT craze. According to TechCrunch, the streaming company is testing a new feature that will allow artists to promote their NFTs on their profiles. Currently, this feature is available for a limited group of artists and that too for Android users in the U.S.