Sociobits

On Thursday, WazirX, one of India's leading cryptocurrency exchanges with approximately 1.6 crore users, experienced a major security breach. Hackers, allegedly linked to North Korea, managed to steal around $235 million (approximately Rs 1,966 crore) from customer wallets. In response, WazirX has temporarily halted all withdrawals in both rupees and cryptocurrencies.

Elliptic, a global crypto analytics and compliance firm, confirmed the breach, revealing that over 200 different crypto assets were stolen, including $6.35 million in Shiba Inu coins, $52 million in Ether, and $11 million in Matic. The stolen assets have started being laundered through various decentralized services. WazirX is actively investigating the incident to ensure the safety of user assets.

#hackers #wazirx #sharemarket #cryptotrading #cryptoexchange #crore #india #asset #service #korea

6 months ago | [YT] | 1

Sociobits

The government-backed Open Network for Digital Commerce (ONDC) has made significant inroads into the food-ordering market, now facilitating 60,000 orders daily and capturing 3% of the order volumes of giants Swiggy and Zomato, each receiving 2 million orders nationwide. ONDC's total daily order volume, including mobility bookings, reached 400,000.

A standout performance was seen on July 7, 2024, in Bengaluru, where ONDC handled 38,000 food orders, representing 17% of Swiggy and Zomato's daily volumes in the city. Flipkart's potential entry into the F&B category on ONDC could further boost its reach, enabling users to order from popular chains like Domino's and McDonald's through the Flipkart app.

#ondc #swiggy #mcdonald #zomato #traction #domino #flipkart #food #market #ordernow #digitalcommerce

6 months ago | [YT] | 0

Sociobits

B9 Beverages Pvt., the owner of the popular Indian craft beer brand Bira 91, is opening its fifth local brewery in Madhya Pradesh by the end of the year. This new brewery will increase production to meet the rising demand for flavorful beers in India. Founded by Ankur Jain in 2015, Bira 91 is backed by Sequoia Capital and Kirin Holdings.

The company has raised about $50 million this year and is preparing for its final private funding round before planning an IPO. Despite the pandemic, Bira has doubled its sales and tripled its market share, showing strong growth in India's beer market.

#bira #ipo #demand #brewery #beer #india #pandemic #sale #madhyapradesh #market

6 months ago | [YT] | 1

Sociobits

In a significant move at Google I/O Connect in Bengaluru, Google announced a 70% reduction in Google Maps API prices for Indian developers, starting August 1.

This comes just a week after Ola CEO Bhavish Aggarwal offered one-year free access to Ola Maps for developers, aiming to shift the market towards their in-house mapping service. Additionally, Google will provide a 90% discount to developers working with the Open Network for Digital Commerce (ONDC).

Google will also start accepting subscription payments in rupees. Despite these changes, Aggarwal has expressed scepticism, calling it “too little too late,” while promising major updates for Ola Maps soon.

#google #map #ola #india #developer #price #agarwal #bhavishaggarwal #connect #updates #olamaps #service

6 months ago | [YT] | 1

Sociobits

Apple and Google's complex relationship has taken a dramatic turn with Apple's latest attack ad targeting Google's Chrome browser.

As Google aims to convert Safari users to Chrome amidst potential monopoly investigations, Apple fights back, emphasizing privacy concerns. With Safari privacy billboards and a new Hitchcock-inspired ad, Apple sends a clear message to its 1.4 billion users: avoid Chrome if you value your privacy.
The battle for user trust and market share intensifies, spotlighting the ongoing privacy debate between these tech giants.

#chrome #iphone #apple #technology #sharemarket #trust #privacy #millions #targeting #investigation #phone

6 months ago | [YT] | 1

Sociobits

Astrology SaaS platform Melooha has bought Bengaluru-based language translation and astrological guidance startup Munitalks in a cash and stock deal.

Although the company did not disclose the financial terms of the deal, but sources close to the matter that the transaction was pegged at INR 70 Lakh.

With this acquisition, Melooha seeks to leverage Munitalks’ multilingual support and astrology consultation services to boost its astrological offerings.

Besides, the startup also aims to tap Munitalks’ AI technology stack to translate most of the Indian languages for boosting its user base.

#astrology #startup #indian #userbase #language #consultants #munitalks #stockdeal #bengluru #cash #translation

6 months ago | [YT] | 0

Sociobits

The Reserve Bank of India has give an apporoval to Jio Financial Services to become a core investment company.

In a stock filing, Jio Financial said that “further to the disclosure dated November 21, 2023, the company has today received from the Reserve Bank of India approval for conversion of the Company from Non-Banking Financial Company to Core Investment Company.”

With this approval, Jio Financial Services will now have more flexibility in terms of its day-to-day operations. Now, it can emphasise on core investment rather than other finance activities. Jio Financial can now aim for diversification of its investment portfolio with ever-changing market conditions.

#reservebankofindia #jio #finance #service #company #investment #activities #portfolio #rbi #approval

6 months ago | [YT] | 2

Sociobits

‪@zomato‬ , India's leading online food delivery app founded by Deepinder Goyal, recently marked its 16th anniversary with a celebration that turned heads across social media. Mimicking the traditional 'political approach', Zomato unveiled a birthday advertisement that captured the essence of Indian political birthday messages.

The ad, prominently displayed in Hindi and Tamil, thanked its patrons with a heartfelt message: "16th janamdin par aap sabhi ko apna pyar barsane ke liye koti koti dhanyavaad (On our 16th birthday, a big thanks to all of you for showering us with love)."

This unique marketing move, featuring a desi layout and color scheme, spread across the front page of a newspaper, quickly went viral for its innovative and relatable appeal.

#zomato #birthday #janamdin #innovative #appeal #socialmedia #deepindergoyal #company #viral

6 months ago | [YT] | 0

Sociobits

Vi Business, the enterprise arm of Vi, has partnered with PayU to support MSMEs in India by offering customized digital payment solutions. This collaboration leverages Vi Business's digital transformation expertise and PayU's proficiency in digital payments to provide a comprehensive range of services, including innovative payment options, buy-now-pay-later (BNPL) solutions, and seamless WhatsApp integration.

Additionally, Vi Business offers productivity and collaboration tools like Google Workspace, location tracking, personal cloud storage, and mobile security solutions at special prices through its ReadyForNext program.

This partnership aims to drive MSMEs' digital journeys and enhance their business operations and customer engagements efficiently.

#vi #Payu #partner #msme #india #business #journey #operations #msme #engagement #digitalpayment

6 months ago | [YT] | 1

Sociobits

Dior and Armani, renowned for their luxury handbags, have come under scrutiny for their pricing practices.

Despite selling bags for lakhs of rupees, they pay suppliers as little as Rs. 4,700-Rs. 8,300 per handbag. A recent investigation revealed exploitation and legal violations in their supply chain, including the use of undocumented Chinese workers.
This controversy raises questions about the true value of these high-priced accessories.

#dior #luxury #armani #handbag #price #selling #lakh #investigation #italia #legal #violation #chinese #controversy #value

6 months ago | [YT] | 1