Car service startup Pitstop eyes Singapore market; LetsTransport raises $12 M

Saturday October 13, 2018 , 2 min Read

Pitstop is going international! This three-year-old Bengaluru-based car service startup is launching its services in Singapore in a joint venture with Goldbell Group, and will invest $1 million to expand operations that are aimed at increasing adoption among end customers, and fleets by Q1 FY19. By 2020, it also plans to enter Malaysia and Vietnam markets.

Investments in the logistics space seem have taken a new high! Bengaluru-based intra-city logistics company LetsTransport announced that it has raised $12 million from Shanghai-based Fosun International and others. This is Fosun's second investment in the country’s tech-based logistics sector.

After news broke that Indian digital payments giant Paytm is reportedly in talks to acquire Alibaba Group-owned internet company UCWeb, the Chinese conglomerate released a statement denying these discussions, saying, "UCWeb will continue to actively co-operate with partners bringing better service and content to Indian users.”

Netflix ranked as the world’s top-grossing (non-gaming) app for the third quarter in a row. Generating $244 million in Q3 alone, the service has become indispensable in a video-first internet world. Video-streaming apps are leading the growth in global app revenues, with revenues surging to $18 billion during this period. Sensor Tower’s latest report indicates consumer app spending increased 23 percent in the third quarter of 2018.

Netflix generated $244 million in Q3 alone.

Photo collaboration app Vebbler is looking to milk the photo sharing trend on social media. But, it might be suffering from the ‘Jack of all trades, master of none’ syndrome. Beginning as a social network in 2013, founder Sahil Bhagat realised that there were no takers for status updates anymore. Developed by a bootstrapped startup in Mumbai, it gained 5,000 users in a month, and reached over 50 countries.

Vebbler - a social yet private photo platform for communities

#MeToo rages into college campuses. From the Asian College of Journalism, Chennai, alleged instances of sexual harassment by a former student and faculty members have been revealed. In Pune, more than 30 students and three faculty members from the Symbiosis Centre of Media and Communication (SCMC) have been accused. These instances also revealed toxic relationships that turned sexually or physically abusive among students.