Amazon Briefly Worth $1 Trillion, Targets India With Hindi Site

Amazon’s shares rose to $2,050.50 on Tuesday, pushing the company’s value to over $1 trillion, making it the second U.S. firm to reach that pinnacle since Apple did so early last month. By the end of the day, shares fell to $2,039.51, below the $1 trillion mark. Amazon, which employs more than 550,000 people, generates more than $178 billion in annual revenue and captures 49 cents from every dollar spent on e-commerce. To continue its growth, Amazon is now offering its local Indian website and apps available in Hindi. Continue reading Amazon Briefly Worth $1 Trillion, Targets India With Hindi Site

India Concerned Over Dominance of U.S. Internet Companies

Some Indian leaders are resisting the dominance of U.S. Internet platforms and services such as Facebook’s WhatsApp, Google’s Android mobile operating system and Amazon’s e-commerce business, calling it a form of colonialism and vowing to regulate these foreign companies, especially regarding what they do with users’ personal data and how they might undercut prices offered by local businesses. India’s smartphone market, second largest in the world, is dominated by offerings from China, Taiwan and South Korea. Continue reading India Concerned Over Dominance of U.S. Internet Companies

Competitors Aim to Dominate India’s Digital Payments Market

India’s digital payment market is on fire, mainly due to new easy-to-use apps that also offer discounts and cash bonuses. The country’s banks, postal service and richest man (Mukesh Ambani) are investing in the arena, and even Warren Buffett, through Berkshire Hathaway, is reportedly taking a stake in the country’s leading digital payment company Paytm. Credit Suisse Group estimates that the Indian market will reach $1 trillion by 2023. China, meanwhile, already has a digital payments market valued at $5+ trillion. Continue reading Competitors Aim to Dominate India’s Digital Payments Market

Tech Giants Pushing for More Favorable Federal Privacy Law

Facebook, Google, IBM, Microsoft and other tech companies are lobbying to begin work on a federal privacy law, with the goal of creating regulations that would favor them more than the strict law passed in June by California. The California law, a benchmark in the U.S., gives users the right to know what information tech companies are collecting and why, as well as with whom they’re sharing that data. The Information Technology and Innovation Foundation said its tech company members want to be “a constructive part of the process.” Continue reading Tech Giants Pushing for More Favorable Federal Privacy Law

India Drafts Regulations to Protect Domestic Tech Companies

Although India is one of the world’s biggest, largely untapped open markets, the government there is attempting to control the influence of such U.S. tech companies as Amazon, Apple, Facebook, Google and others. Mimicking China’s regulations to control and protect its population’s data and domestic startups, Indian lawmakers are proposing regulations that are worrying to U.S. tech behemoths that have been eyeing the country — and creating plans to enter it — as a potential source of billion-dollar profits. Continue reading India Drafts Regulations to Protect Domestic Tech Companies

New Research Underlines the Ongoing Strength of P2P Piracy

Anti-piracy company Irdeto has revealed that P2P piracy is booming and still more popular than streaming in several countries. P2P traffic — mostly of the BitTorrent variety — continues to be a significant source of content for streaming portals hosting pirated content. Irdeto’s report comes at a time when Hollywood has focused its attention on streaming sites and services that distribute pirated content. Irdeto’s research examines web traffic to 962 piracy sites in 19 countries where P2P was the “dominant piracy tool.” Continue reading New Research Underlines the Ongoing Strength of P2P Piracy

Facebook’s Plans for Innovation Hub in China Hits Roadblock

Facebook has been planning an “innovation hub” in Hangzhou, China — home to Chinese Internet leader Alibaba Group — to support that nation’s startups and developers as well as increase its own presence in the country. However, the approval that was briefly listed on a Chinese government database has now disappeared and, according to one source, the approval has been withdrawn. Facebook has been blocked in China since 2009, spurring the company to find other ways to position itself there. Earlier this year, it inked an agreement with Xiaomi to build a VR headset for the Chinese consumer market. The company planned to provide training and workshops through the proposed hub.

Continue reading Facebook’s Plans for Innovation Hub in China Hits Roadblock

WhatsApp Hopes Changes Will Reduce Virality and Violence

One day after Facebook said it would remove misinformation that could provoke violence, the company announced tweaks to WhatsApp, saying it would limit the number of groups to which a message could be forwarded on that platform. This specific move — which was requested by the Indian government — came after fake news widely forwarded via WhatsApp led to mob violence and the death of 20 people wrongly suspected of child kidnapping. WhatsApp has over 200 million monthly active users in India. Continue reading WhatsApp Hopes Changes Will Reduce Virality and Violence

Facebook Combats Fake News After Hoaxes End in Violence

In the wake of posts that have incited violence in Sri Lanka, Myanmar and India, Facebook has tweaked its fake news policy and agreed to remove posts that could lead to physical harm. In the incidents that sparked this change, rumors spread on Facebook led to physical attacks on ethnic minorities. The attacks have involved the Rohingya Muslims in Myanmar, Muslims in Sri Lanka, and other attacks in India and Mexico. Changes do not apply to Instagram or WhatsApp, despite the latter’s involvement in incidents in India. Continue reading Facebook Combats Fake News After Hoaxes End in Violence

Social Media Continues Growth Across Developing Markets

A new report from the Pew Research Center notes that social media growth has stalled across developed markets but continues to expand in the developing world — good news for Facebook CEO Mark Zuckerberg and his plan to bring Internet access to emerging markets. Internet use and smartphone ownership has also plateaued in developed markets over 2015-2017, while expanding in emerging economies. Pew Research polled more than 40,000 citizens of 39 countries during February to May in 2017 to create its report. Continue reading Social Media Continues Growth Across Developing Markets

Google Plans to Invest $550 Million in China Retailer JD.com

As part of its efforts to expand in Asia and compete with Amazon, Google is investing $550 million in Chinese e-commerce platform JD.com. The partnership will include the Google Shopping advertising platform promoting JD.com products, which should help the Beijing-based Jingdong (formerly 360buy) reach beyond China and Southeast Asia markets to the U.S. and Europe. Google has been ramping up investments across Asia. The company recently invested in Indonesian ride-hailing company Go-Jek, and is reportedly considering an investment in Indian e-commerce upstart Flipkart. Continue reading Google Plans to Invest $550 Million in China Retailer JD.com

Facebook Drops Trending Topics, Tests Other News Features

Facebook is removing Trending Topics next week, saying that the feature has become “less useful” over time and that pulling the plug on it will “make way for future news experiences.” The feature accounted for an average of less than 1.5 percent of clicks to publishers from Facebook. Conservatives also decried the feature saying it proved Facebook’s liberal bias, an accusation the company is still trying to get out from under. Facebook now plans to pay some news outlets to produce daily and weekly news show for Watch. Continue reading Facebook Drops Trending Topics, Tests Other News Features

Google and Amazon Remain Leaders in Smart Speaker Market

Smart speakers continue their popularity, with nine million units shipped in Q1 2018, representing a 210 percent jump over Q1 2017, according to Canalys. In a first, global shipments of Google Home speakers surpassed those of Amazon’s popular Echo speakers. “Google shipped 3.2 million Home and Home Mini devices, versus 2.5 million Echo devices shipped by Amazon,” reports VentureBeat. “Google held an estimated 36.2 percent share for the quarter over Amazon’s 27.7 percent — a profound reversal from a year earlier, when Amazon had 79.6 percent of shipments to Google’s 19.3 percent.” Continue reading Google and Amazon Remain Leaders in Smart Speaker Market

Amazon to Tutor Chinese Firms on How to Sell to U.S., Europe

Amazon is scheduled to hold an event in Hangzhou, the city where its rival Alibaba has its headquarters, to get 400 Chinese manufacturers up to speed on buying trends among American and European consumers and be ready for the 2018 holiday season. The event, dubbed “Coming Together for U” and sponsored by Amazon Global Selling, is evidence of Amazon’s effort to dominate e-commerce globally. The company would earn revenue from helping Chinese manufacturers source goods from factories and ship them quickly to other countries. Continue reading Amazon to Tutor Chinese Firms on How to Sell to U.S., Europe

The Roadmap for Walmart’s Purchase, Planned IPO of Flipkart

In the next year, Walmart may invest $3 billion in India-based, Amazon rival Flipkart by purchasing new shares at the same price as the purchase transaction, according to a filing with the Securities and Exchange Commission. The all-cash deal is groundbreaking as the world’s largest e-commerce transaction, in which Walmart will buy $2 billion new shares and a stake worth $14 billion from Flipkart investors. Amazon, meanwhile, has invested $2 billion in June 2014 and $3 billion in June 2016 in India. Continue reading The Roadmap for Walmart’s Purchase, Planned IPO of Flipkart

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