Freshworks has launched a $500 million share sale for its senior-level leadership, workers, and other shareholders, making it one of the largest cashouts by an Indian startup this year. The company has filed a re-offer prospectus with the US Securities and Exchange Commission in order to begin selling 13,555,142 shares of Class A common stock. Freshworks CEO Girish Mathrubhootham would sell approximately 2.4 million shares worth $92.7 million as part of the liquidity event. Jose Morales, the company’s chief revenue officer, and Srinivasagopalan Ramamurthy, the company’s chief product officer, will…
Read MoreDay: November 9, 2021
Edtech startup Byjus raises $1.2 million in term loan
Byju’s, India’s most valued privately held startup, has received $1.2 billion in a term loan from the international market. According to sources familiar with the matter, the edtech business, valued at $18 billion, had originally expected to raise $700 million, but the round was increased in size. According to the sources, the company has taken advantage of the interest rate arbitrage available in worldwide markets, which has resulted in record low rates. Byju’s raised financing at Libor + 550 basis points, which is significantly cheaper than what is available in…
Read MorePixel users experiencing another bug
A new issue has affected Pixel phones, including the latest Pixel 6 series, in which the Google devices dial any number in the contact list at random. Several phone users have turned to social media to express their disappointment with the issue. According to a debate on an internet forum, the bug may be tied to the voice assistant on the phones. According to an online Reddit forum, a Pixel phone apparently contacted a number in the phone’s contact list that the phone user had never called before. The owner…
Read MoreThe Xiaomi 12 series: Everything you should know
The Xiaomi 12 series has been the buzz of the town for some days now. The forthcoming Xiaomi 12’s features and designs have already leaked online. The latest news confirms that the Xiaomi 12 will be the first phone to use the Snapdragon 898 CPU. The Xiaomi 12 will be the first phone of using Qualcomm’s new Snapdragon 898 CPU, according to popular Chinese source Digital Chat Station. The Xiaomi 11 was also the first device to use the Snapdragon 888 processor. Around the same time that the information was…
Read More3.5 million votes for Elon musk’s Twitter poll
Tesla CEO Elon Musk should sell around 10% of his shares, according to 57.9% of those who participated in a Twitter poll asking if he should sell the holding. On Saturday, the world’s richest person tweeted that if users supported the idea, he would sell 10% of his stock. More than 3.5 million people voted in the poll. “Much is made lately of unrealized gains being a means of tax avoidance, so I propose selling 10% of my Tesla stock,” Musk said on Saturday, adding that he does not take…
Read MoreEdTech startup raised $63 million total funding since its launch
Brightchamps, an edtech startup that offers online courses in programming, artificial intelligence, design thinking, and financial literacy to children aged 6 to 16, has raised $63 million in total funding since its launch last August and is now valued at nearly $500 million, according to founder and CEO Ravi Bhushan. Premji Invest, the investment group of Wipro founder Azim Premji, has led a new $51 million round of fundraising, with participation from edtech investor GSV Ventures, Flipkart cofounder Binny Bansal-backed 021 Capital, and Singapore-based venture fund Beenext. GSV Ventures, located…
Read MoreWhatsApp rolling out multidevice capability
WhatsApp is rolling out multi-device support for Android and iOS users, but many users are complaining that their security codes have changed as a result. According to WhatsApp, the security code change is likely during the early stages of the multi-device feature’s introduction. The capability allows users to connect up to four linked devices without having to connect the phone. In a tweet, Wabetainfo stated that the messaging app intends to deliver warnings regarding security code changes when the user re-registers the account on a new phone. According to the…
Read MoreMicrosoft extends its surface laptop lineup for students
Microsoft seems to be eager to extend its Surface laptop lineup. According to reports, a new Surface Laptop is in the pipeline, with features indicating that Microsoft intends to develop the laptop just for students. The laptop is believed to be smaller than the existing Surface Laptop Go and will be Microsoft’s second effort to compete with mini-Chromebooks. Microsoft has assigned device the codename ‘Tenjin,’ and it has an 11.6-inch display. The tiny display screen will most likely feature a resolution of 1366 x 768 pixels. Microsoft would almost certainly…
Read MoreWhatsApp developing new community feature
WhatsApp, the premier encrypted messaging app, is rumoured to be developing a new feature dubbed the Communities feature. The likelihood of such a functionality was initially mentioned by XDA Developers in October. The Communities feature looks to provide group administrators additional control over their groups. This includes the option to establish groups inside groups, which is similar to how channels are organised within a Discord community. The ‘Community’ feature was discovered in WhatsApp’s most recent beta version, 2.21.21.6. For example, communities should include a system of invites by link or…
Read MorePaytm IPO starts from today: All you need to know
Paytm, India’s own own digital payment system formerly known as One97 Communications, will launch its initial public offering for subscription on November 8, 2021, in what will be India’s largest ever D-St debut since Coal India. Anchor investors for the $2.46 billion (Rs 183 billion) IPO include the world’s largest asset manager, BlackRock, the Canada Pension Plan Investment Board, and sovereign wealth funds from Singapore and Abu Dhabi. Anchor investors will purchase approximately half of the company’s IPO. The issue will be offered on November 8, 2021 and will end…
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