GIC backs Indian EV startup Euler Motors in $60 million funding • ProWellTech

GIC backs Indian EV startup Euler Motors in $60 million funding • ProWellTech

Euler Motors, an Indian startup that designs and builds commercial electric vehicles, has raised $60 million in a new funding round as it works to ramp up its production capacity and broaden its offerings. Singapore’s sovereign fund GIC led the New Delhi-headquartered startup’s Series C funding. Blume Ventures, Athera Venture Partners, QRG, ADB Ventures and…

Edited tweets is still a minefield, but Twitter’s solution just might work • ProWellTech

Edited tweets is still a minefield, but Twitter’s solution just might work • ProWellTech

I’ve long been super against edited tweets, mostly for technical reasons. The core issue is that Twitter isn’t like other social media sites; unlike, say Instagram and Facebook posts, embedded tweets drive the news in many ways. Republishing and retweeting of tweets is the main risk around allowing users to edit it. Let me break…

Prosus cancels $4.7 billion acquisition of India’s BillDesk • ProWellTech

Prosus cancels $4.7 billion acquisition of India’s BillDesk • ProWellTech

Prosus has scrapped the $4.7 billion acquisition of BillDesk it announced last year, once stated to be the European technology giant’s largest, saying “certain conditions” were unfulfilled in a surprising move a month after the proposed acquisition received from the local antitrust watchdog the approval to proceed. “Certain conditions precedent were not fulfilled by the…

UK pauses data reform bill to rethink how to replace GDPR • ProWellTech

UK pauses data reform bill to rethink how to replace GDPR • ProWellTech

The UK government has confirmed another pause to draft digital legislation under new prime minister Liz Truss’ reshuffled cabinet — saying the data reform bill it had introduced in recent months is on hold while ministers take another look. The paused bill contained a package of amendments to the UK’s data protection regime, which remains based…

Elon Musk steps in it — “F#ck off is my very diplomatic reply to you” • ProWellTech

Elon Musk steps in it — “F#ck off is my very diplomatic reply to you” • ProWellTech

Elon Musk today waded into the Ukraine-Russia war with a peace plan that was . . . not very well-received. It may have been a tactic to distract industry watchers from Tesla’s third-quarter vehicle production and delivery numbers for 2022, which fell short of analysts’ expectations. But it was a knuckle-headed tactic if so, and…

Vulnerability tricks researchers by mimicking old threats

Vulnerability tricks researchers by mimicking old threats

Cybersecurity researchers have discovered a new zero-day vulnerability that has surfaced in Microsoft’s Exchange email servers and has already been exploited by bad actors. The yet-to-be-named vulnerability has been detailed by cybersecurity vendor GTSC, though information about the exploit is still being collected. It is considered a “zero-day” vulnerability due to the fact that public…

Activision Blizzard illegally withheld raises from unionizing workers, labor board finds • ProWellTech

Activision Blizzard illegally withheld raises from unionizing workers, labor board finds • ProWellTech

Gaming giant Activision Blizzard unlawfully retaliated against workers at Raven Software who formed a union, the National Labor Relations Board found. The quality assurance (QA) department at subsidiary Raven Software, who mostly work on “Call of Duty,” announced that they would form a union in January. Activision Blizzard sought to block the union, reasoning that…

John Curtius is leaving Tiger Global to start his own venture fund • ProWellTech

John Curtius is leaving Tiger Global to start his own venture fund • ProWellTech

John Curtius, the prolific Tiger Global senior partner who has been at the center of some of the firm’s biggest deals in the last several years, is leaving the firm, ProWellTech has learned. He will be leaving to start his own firm, which will concentrate investments from Series A to Series C. Curtius will stay…

Naver agrees to acquire fashion marketplace Poshmark for $1.2B • ProWellTech

Naver agrees to acquire fashion marketplace Poshmark for $1.2B • ProWellTech

Naver, the South Korean search giant, today announced it plans to acquire secondhand apparel marketplace Poshmark for $1.2 billion in cash. The deal values publicly-traded Poshmark’s shares at $17.90 — a 15% premium over the closing price today — and the companies expect it to close by Q3 2023, subject to approval by Poshmark stockholders…