Here are the top trending stories from the world of technology. News that we feel every tech enthusiast should keep a tab on.
1)
Twitter’s Indian Rival Koo raises $6 MN led by Tiger Global
According to startup news portal Entrackr, Twitter’s Indian alternative Koo has raised a fresh funding amounting to $6 Mn in a funding round led by VC giant Tiger Global. However, KOO has so far not confirmed the funding round. Entrackr claimed in its report that existing investors Accel Partners and Kalaari Capital also participated in the round. This is a second funding round for the Bengaluru based company. The latest funding for Koo has come at a time when scores of users are leaving Twitter following Elon Musk’s takeover. But it is still not clear whether Koo has managed to capitalize on twitter’s mass exodus.
2)
Amazon pulls the plug on its Online Learning platform in India
E-commerce giant Amazon has said that it will shutdown its online learning platform Amazon Academy. The company announced that it will close down its e-learning platform in a phased manner starting from August 2023. The e-commerce behemoth, which recently announced a huge mass lay off, intends to cut its cost further with this latest decision. Amazon Academy was launched earlier this year after being in testing since the year 2019. Amazon Academy helped ambitious higher education in preparing for IIT JEE and entrance exams of other highly prestigious engineering colleges. Amazon Academy competed with Softbank and Tiger Global backed Unacademy.
3)
HP becomes latest Big Tech to opt for layoff
Computer manufacturing giant HP Inc announced on Tuesday that it is planning to offload nearly 4,000 to 6,000 employees over the course of next three years. Following this decision, HP’s share price rose nearly 1% on NASDAQ on Wednesday. The Computer maker said that it has been forced to take this unfavorable decision because of declining computer sales across the global market. HP did boost a good sales figure during the COVID period but these sales figure did not hold up in the post COVID period. HP now joins the likes of big tech companies like Meta, Amazon and Salesforce that recently mass layoffs to cope with ongoing economic recission.
4)
Amazon is planning a TV series on FTX Collapse Drama
People in the U.S. may soon get to watch the spectacular collapse of FTX on television. There is a growing buzz in the media that Amazon is planning to produce a TV series about the spectacular fall from grace of FTX and its founder Sam Bankman Fried. Amazon has already reportedly roped in Russo Brothers, who are best known for their Marvel movies, to make the TV series. However, no cast has been hired yet. The FTX scandal has shaken the crypto industry to its core and has hogged lot of media limelight in the U.S. At the heart of FTX scandal is the 30 year old Bankman Fried who is currently believed to be hiding in the Bahamas.
5)
Jeff Bezos donates $123 Mn to Homeless Families in the U.S.
Amazon Founder Jeff Bezos is currently on a philanthropy spree. Almost a week after announcing that he plans to denote majority of $124 Bn net worth to donation, the billionaire has made one more big announcement. The Amazon boss said that said that he is donating $123 Mn to homeless families in the U.S. Hit hard by the decade long economic recission, the U.S. has seen a huge spike in the homeless people across the country.