> US-based ecommerce major, eBay incurred a loss of $61 million by writing down its investment in the trouble-torn Jasper Infotech Private Limited, which runs Snapdeal, says Sameer Ranjan. The company disclosed its impairment loss from its Snapdeal investment in its annual report filed with the US Securities and Exchange Commission.
> Startups have finally got some relief from the so-called 'Angel Tax'. The Ministry of Finance's Department of Revenue has sent a circular to all Principal Chief Commissioners of Income Tax clearly stating that "no coercive measure to recover the outstanding demand would be taken" against startups that "fall within the definition given in Notification of DIPP" in cases that fall under Section 56(2) of the Income Tax Act, 1961, reports Radhika Nair.
> When SpaceX’s, Falcon Heavy, lifted off from NASA’s historic pad 39A at the Kennedy Space Center in Florida, it became the most powerful operational rocket in the world by a factor of two. It has the ability to lift more than twice the payload of the next vehicle, at one-third the cost, says Harshith Mallya.
> San Francisco-based job advertising technology platform Joveo raised $5 million in Series A funding led by Nexus Venture Partners. According to Sindhu Kashyap, the funds raised will be used to accelerate the company's product offerings, expand its partnerships, and scale its Artificial Intelligence and Deep Learning layer.
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- Kennedy Space Center
- business finance
- E-commerce & Auction Services
- Aerospace & Defense - NEC
- Jasper Infotech Private Limited