News This Week You Need to Remember!

Techstory brings you this week’s top stories which you might have missed! So start your Sunday by updating your knowledge with these top news that happened this week across the globe! And Yes it’ll take just few minutes to go through this! Get Wisdomatic!

This week we saw couple of acquisitions, lots of funds invested and new products launched. FirstCry acquired BabyOye, SoftBank and PIF will invest $100bn in coming years, Google acquired FameBit – a technology platform company, all this and much more!

FirstCry Acquires Mahindra’s BabyOye for Rs. 362.1 cr

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One of the top online baby products seller Firstcry is acquiring Mahindra Retail, which runs offline stores under Babyoye brand, for about Rs. 362.1 crore in a landmark deal in the Indian retail market.

FirstCry is Asia’s Largest Online Portal for Baby and Kids Products. It has over 2 Lacs Baby and Kids’ items from 2 thousand plus top International and Indian brands!

SoftBank Group, PIF to Invest $100 Billion in Coming Years

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SoftBank Group Corp. (SBG) today announced that it will form SoftBank Vision Fund (tentative name). SBG expects to invest at least $25 billion over the next 5 years. SBG has concluded a non-binding memorandum of understanding (MOU) on October 12, 2016 with the Public Investment Fund of the Kingdom of Saudi Arabia (PIF), under which PIF will consider investing in the Fund and becoming the lead investment partner, with the potential investment size of up to $45 billion over the next five years.

In addition, a few large global investors are in active dialogue to join SBG and PIF to participate in this Fund. The overall potential size of the Fund can go up to $100 billion.

Google Acquires Technology Platform Company- FameBit

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Google has acquired FameBit – a technology platform company that helps creators and brands find and work with each other through sponsorship and paid promotion.

Famebit is a self-service influencer marketplace where brands, influencers and creators collaborate for branded content endorsements on YouTube, Instagram, and more.

KKR-backed Emerald Media Invests $50Million in YuppTV

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Emerald Media, a Pan-Asian platform established by leading global investment firm KKR for investing in the media and entertainment sector today announced that it has acquired a significant minority stake in YuppTV for US$50mn.

YuppTV is one of the world’s leading over-the-top (OTT) video platforms for South Asian content offering live TV, catch-up TV and movies on-demand in 14 languages across the globe. The growth capital will enable the company to further its global footprint, expand its content library through original productions and acquisitions, and rapidly grow its paid subscriber base.

Dailyhunt raises $25 Mn in Series D led by ByteDance

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Dailyhunt – India’s leading local language app has raised $ 25Mn in its series D funding round led by ByteDance. Arun Sarin, former CEO of Vodafone & existing investors of Dailyhunt – Matrix Partners, Sequoia Capital India, Omidyar and Falcon Edge also participated in the round.

Dailyhunt is India’s most popular local language app with over 28 million monthly active users and over 4.5 billion page views monthly. Through its platform, it provides the widest collection of regional language content in form of news, eBooks, magazines, comics and videos.

Morgan Stanley Invest $100 Million in Affirm

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Affirm, Inc., the company started by PayPal co-founder Max Levchin to deliver consumers honest financial products, today announced that it has obtained a $100 million lending facility from Morgan Stanley. On pace to more than triple its year-over-year loan volume, the company will leverage the facility to continue its expansion of consumer-friendly point-of-sale financing at leading online and offline retailers.

 

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