upGrad acquires Wolves India👔, Netflix ties up with Microsoft📺, IAMAI to dismantle BACC🙅🏻♂️
upGrad’s subsidiary firm acquires WI, Netflix partners with Microsoft, IAMAI to dismantle Blockchain and Crypto Assets Council, Funding Deals and more.
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upGrad’s subsidiary firm acquires Wolves India👩🏻💻
upGrad Rekrut, a 100 percent subsidiary of online higher education platform major upGrad, has acquired recruitment and staffing firm Wolves India, for an undisclosed sum.
The Bengaluru-based Wolves India specialises in placing high-quality tech talent across startups, along with mid and large-sized organisations in India and overseas. Wolves India will continue to operate independently, said upGrad.
"While with upGrad Rekrut, we saw our learners receiving record-breaking CTCs during FY22, the joining of Wolves India will give us an edge in the tech ecosystem," said Mayank Kumar, Co-founder, and MD, upGrad.
The edtech giant said that it will also hire people from its own learners' talent pool through its subsidiary upGrad Rekrut.
Netflix ties up with Microsoft to roll out ad-supported plans📺
Netflix has finally got a partner in Microsoft to roll out its ad-supported plan, aimed at stemming its falling subscriber count and boosting revenues. The company lost about 200,000 subscribers in the first quarter of this year — its first decline in a decade.
The streaming giant had long been planning to roll out a low-cost ad-supported plan and had previously held talks with Google and Comcast to launch the service.
“Microsoft has the proven ability to support all our needs as we together build a new ad-supported offering. More importantly, Microsoft offered the flexibility to innovate over time on both the technology and sales side, as well as strong privacy protections for our members,” said Greg Peters, COO, Netflix.
Netflix’s stock has plummeted over 70% this year thanks to its falling subscriber count and a broad rout in tech stocks worldwide. It could fall even further as the company is expected to report a loss of two million more subscribers in the second quarter.
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5ire, a fifth-generation level 1 blockchain network has raised $100 million in a funding round from UK-based conglomerate SRAM & MRAM.
Detect Technologies, an artificial intelligence-based software provider, has raised $28 million in a funding round led by Prosus Ventures.
Wysa, an artificial intelligence platform for mental health, has raised $20 million from HealthQuad and British International Investment.
Fashion discovery startup Shouto has raised $1.6 million led by Saama Capital.
➡️ Check out our LinkedIn space to read more on the funding deals.
Internet body IAMAI to dismantle Blockchain and Crypto Assets Council🙅🏻♂️
The Internet and Mobile Association of India (IAMAI) has decided to dismantle the Blockchain and Crypto Assets Council (BACC), the only advocacy body representing the interests of India's crypto industry.
According to BI, IAMAI decided to disband BACC, which was formed to represent crypto exchanges before authorities such as the Reserve Bank of India (RBI), as it wanted to distance itself from crypto.
BACC acted as an umbrella entity for over a dozen crypto and blockchain companies to liaise with the government. Its members included leading cryptocurrency exchanges such as WazirX, CoinDCX, and CoinSwitch Kuber.
It also introduced a code of conduct for all crypto platforms to follow, which was likely to be updated to avoid run-ins with regulators.
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