📰 Startup Digest (July 9)
News and updates from India's startup space and beyond.
🚖 Ola’s pre-IPO funding round. Ahead of the startup’s initial public offering, its parent company ANI Technologies Pvt. is looking to raise $500 million from Temasek and Plum Wood Investment Ltd.
The Competition Commission of India (CCI) is, however, yet to give a go-ahead to the latest funding round.
According to Ola, the capital will give the cab aggregator the financial resources to remain a significant and competitive player in the sector.
📱 WhatsApp’s new privacy policy on hold. WhatsApp declined to compel its users to pick its new privacy policy until the Data Protection Bill has been enforced.
The company also told the Delhi high court that until such time, the platform would not restrict the functionality for those who are not opting for the new privacy policy.
🙋🏽♂️ CoinSwitch appoints a CFO. Sarmad Nazki has been appointed as the chief financial officer of the Bengaluru-based cryptocurrency startup. The company’s platform allows its users – about 7.5 million now – to buy, sell and trade crypto coins.
In April, CoinSwitch Kuber raised $25 million from Tiger Global and plans to add 150 new staff members over the next six months.
Amanat Khullar is the Content and Editorial Manager at ADIF.
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