India’s digital payments leader Paytm has raised $1 billion in equity at a valuation of $16 billion from existing investors such as SoftBank’s Vision Fund and Ant Financial, Bloomberg reported. Bloomberg added that Paytm is in talks to raise another $1 billion in debt. The money likely will help Paytm fend off rivals in India such as Walmart-owned Flipkart’s PhonePE and Google’s Tez, both of...
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The Questions Around Snap’s TikTok Clone After Top Exec Resigns
After eight years at the company, Snap’s senior vice president of content and partnerships, Ben Schwerin, is departing to join Coatue Management as a general partner, my colleague Kate reported. Schwerin helped lead Snap’s Spotlight, the app’s TikTok clone launched at the end of 2020. His replacement will face the task of maintaining Spotlight’s growth as other rivals, such as Instagram’s...
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Zoom Lays Off 15% of Staff, CEO and Execs to Take Pay Cut
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