Epic Games, the $31.5Bn valued game developer behind popular titles like Fortnite and Unreal Engine, announced that it will be laying off around 16% of its workforce, which will impact roughly 830 employees. Alongside these layoffs, the company also shared plans to divest its music platform, Bandcamp, and spin off most of its SuperAwesome services. … [Read more…]
Google has, for a long time, had a dominance in the search engine space. But if Microsoft had its way, then Google would have been replaced by Bing as the default search engine on Apple’s platforms by now. As surprising as this sounds, a new report by Bloomberg reveals that Microsoft had held talks with … [Read more…]
X, formerly Twitter, is on a path to profitability, according to CEO Linda Yaccarino. Speaking at Vox Media’s Code Conference, Yaccarino confidently stated, when pushed, that X is poised to turn a profit by early 2024 – a significant declaration considering X’s history of financial challenges (especially since it was acquired by Elon Musk). X’s … [Read more…]
Amazon’s practices, this time — and perhaps incoming — have earned the ire of the US federal watchdog. In a monumental move, the Federal Trade Commission (FTC) has filed an antitrust lawsuit against e-commerce giant Amazon in a federal court in Seattle. The complaint accuses the e-commerce major of illegally stifling competition by abusing its … [Read more…]
Cisco is adding a mega deal to its growing list of acquisitions, with security major Splunk joining in. The communications behemoth announced it is acquiring cybersecurity major Splunk in a $28B deal. Upon close of the acquisition, Splunk President and CEO Gary Steele will join Cisco’s Executive Leadership Team reporting to Chair and CEO Chuck … [Read more…]
In a world where content choices are abundant, Amazon has just unveiled a series of exciting updates to its popular Fire TV lineup. From the looks of it, Amazon’s new enhancements are designed to make your TV time more enjoyable, navigable, and personalized, and generative AI — ofcourse — will be leading the way. One … [Read more…]
WhatsApp may have become a household name when it comes to instant messaging and social media, but when it comes to digital payments, it hasn’t really managed to hold a candle to the likes of PhonePe, Paytm, and Google Pay. Meta, WhatsApp’s parent company, has been actively working to rectify this, and now, it is … [Read more…]
In a significant leadership transition, Bob van Dijk, who has been at the helm of Prosus and Naspers for the past decade, is stepping down from his role as Chief Executive Officer (CEO) and as a Board member of both Prosus and Naspers, marking the end of an era for both the companies. The reasons … [Read more…]
Among Apple’s most prominent suppliers, Taiwan HQed Foxconn has been accelerating its diversification from China-based production lines to India. Now, the electronics manufacturer is set to make even more substantial investments in the South-Asian country. V Lee, Foxconn’s representative in India, conveyed these ambitious plans in a LinkedIn post, coinciding with Indian Prime Minister Narendra … [Read more…]
Yesterday, SoftBank’s Arm Holdings clocked a blockbuster initial public offering (IPO) – the biggest of the year – by raising nearly $5 billion and setting the tone for a strong comeback of the depressed IPO market. Now, it has made a rather explosive return to the public markets after its shares opened above the IPO … [Read more…]