Google launches Street View🗺️, Zomato-Blinkit gets green signal✅, TikTok's re-entry🙅🏻‍♂️

Google Maps launches Street View, Zomato shareholders approve Blinkit deal, Govt to scrutinise TikTok on re-entry, Funding Deals & more.

Jul 28, 2022

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Google Maps launches Street View across 10 cities in India🗺️

Google Maps has launched its street view service across India in partnership with two Genesys International and Tech Mahindra. The government had previously not allowed the showing of panoramic images of roads and other sites for security reasons.

The Street View will be available on Google Maps with fresh imagery licensed from local partners covering over 1,50,000 km across ten cities in India. Google is promising to roll out the Street View feature to more than 50 cities by the end of 2022.

In addition to this, the company has also partnered with the Central Pollution Control Board (CPCB) to provide air quality information on Google Maps. Google is also making the Street View API available to local developers enabling them to deliver richer mapping experiences within their apps and services.

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Zomato shareholders approve Blinkit deal✅

The investors of food delivery platform Zomato voted in favour of the company’s acquisition of quick commerce company Blinkit (formerly Grofers), according to filings available on the BSE.

Among all the voters, about 97% voted in favour of Zomato to acquire Blinkit for Rs 4,447 crore ($570 million) in an all-stock deal which was announced on June 24. While 14.6% of the public institutions voted against the deal, 99% of the public non-institutions voted in favour.

After the approval was notified to the stock exchange on Wednesday morning, Zomato's stock traded in the green and ended the session up 5.52% at Rs 43.95 a piece.

The food delivery player allotted 4,65,51,600 equity shares from its Esop (employee stock option plan) pool at an exercise price of Re 1, according to stock exchange filings.

Hot Shorts⚡

Atato, a licensed digital asset custodian offering MPC custodial solutions aimed at corporates and institutions, has raised $6 million in its Series A funding round led by AlphaLab Capital and FEBE Ventures.
Threado, a Bengaluru-based community management startup, raised $3.1 million in funding led by Vertex Ventures Southeast Asia and India.
Technology-enabled construction and home improvement platform Wify raised $2 million in funding led by Blume Founders Fund and Unitus Ventures.
Strive, a web3 startup in the NFT space has raised $500,000 in its Pre-Seed funding round led by 100X.VC, LetsVenture, GrowX ventures and several angel investors.
Equity management platform Qapita acquired a 100% stake in Pune-based equity compensation company ESOP Direct in an all-cash deal.

➡️ Check out our LinkedIn space to read more on the funding deals.

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ByteDance’s AI policies to face government scrutiny on re-entry📵

Chinese internet giant ByteDance’s moves to re-enter the Indian market through a partnership with a local business group will trigger intense scrutiny by the Centre due to concerns over the TikTok owner’s capability to harvest user data through the use of artificial intelligence posing a security risk.

We had earlier reported in June that the ByteDance Group is in talks with Mumbai-based realty major Hiranandani Group to make a comeback in India in an attempt to re-enter one of the world's largest internet markets.

“The problem with ByteDance is not just data and who stores it. It is their AI (artificial intelligence) algorithm. There has to be some sort of algorithmic accountability. Because this is not just about data privacy. It is about what are they doing with the data even if they are not exporting it,” a government official told.

“They were banned for a reason. Just because you changed the ownership, we should allow them to come in from the front door. That cannot be done,” the official remarked.