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STARTUP DIGEST: Top startup stories of the day

STARTUP DIGEST: Top startup stories of the day

STARTUP DIGEST: Top startup stories of the day
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By Palak Agarwal  Oct 26, 2020 11:38:45 PM IST (Updated)

Check out all the interesting happenings in the startup ecosystem across the world.

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The top startup stories of the day:
1. Swiggy: India bats for Chicken Biryani during IPL!
One month into the cricketing season, the food delivery platform Swiggy has recovered around 80-85 percent of pre-Covid order value. Bangalore, Mumbai, Hyderabad are the most active metro cities, while Ahmedabad, Jaipur, and Lucknow are the most active tier 2 cities this IPL season.
While Indians cheers for their favorite team this IPL, they prefer to celebrate it with their favorite meal -Chicken Biryani, Paneer Butter Masala, and Chicken Fried Rice. On the other hand snacks and desserts such as ice-creams, samosas and fries have seen a 15-20 percent rise in the past month
Earlier this month, Zomato Founder and CEO Deepinder Goyal said in a tweet, ‘The food delivery volumes in India have reached pre-COVID peaks. Several cities are now at over 120 percent of pre-COVID peaks. He also anticipated that the food delivery sector would continue to grow at around 15-25 percent month-on-month for the foreseeable future.
2. Flipkart’s Best Price store opens in Tirupati to serve kiranas, small businesses
The Flipkart group’s Best Price cash-and-carry business opens a new wholesale store in Tirupati, Andhra Pradesh, to cater to the needs of kiranas and small businesses by offering a wide range of quality merchandise at competitive prices, door-step delivery of products, and convenient payment solutions to its members.
The newly launched store in Tirupati is Best Price’s 29th store in the country where it is present across nine states. It serves kiranas, offices & institutions, hotels, restaurants, and caterers (HORECA) through a membership model.  
Spread over 56,000 sq. ft., the store will significantly contribute to the local and state economy by creating an estimated 2,000 direct and indirect jobs.  
3. Govt issues warning to Twitter; conveys strong disapproval over map misrepresentation
The government has shot-off a stern letter to Twitter CEO Jack Dorsey, expressing its strong disapproval over misrepresentation of the Indian map and asserted that any attempt by the micro-blogging platform disrespects the country’s sovereignty and integrity is unacceptable.
In a strongly-worded letter, IT Secretary Ajay Sawhney has warned the platform that such attempts not only bring disrepute to Twitter but also raises questions about its neutrality and fairness as an intermediary. IT Ministry sources told.
4. Airbnb partners with ex-Apple design star Jony Ive for “special collaboration”
Airbnb has hired former Apple Design Chief Jony Ive to work on showcasing the home-sharing platform’s forthcoming products. Ive, who worked alongside Steve Jobs for several decades, is credited with designing the shape of the iMac, iPod, and iPhone before leaving the tech giant in June 2019 to set up his firm, LoveFrom.
The Silicon Valley legend and his firm “will be engaging in a special collaboration” over several years with Airbnb, founder, and CEO Brian Chesky said in the announcement. Ive will also help Airbnb develop its internal design team.
The announcement comes as Airbnb plans to go public by the end of the year.
5. Facebook launches dating service in Europe
Facebook is launching its dating service in 32 European countries after the rollout was delayed earlier this year due to regulatory concerns. The social media company had postponed the rollout of Facebook Dating in Europe in February after concerns were raised by Ireland’s Data Protection Commissioner (DPC), the main regulator in the European Union for a number of the world’s biggest technology firms, including Facebook.
Facebook Dating, a dedicated, opt-in space within the Facebook app, was launched in the United States in September last year. It is currently available in 20 other countries.
In a blog post on Wednesday, Kate Orseth, Facebook Dating’s product manager, said users can choose to create a dating profile and can delete it at any time without deleting their Facebook accounts.
6. Cybersecurity firm McAfee raises $620 million in US IPO
Cybersecurity firm McAfee Corp sold shares in its initial public offering (IPO) at $20 apiece, within its target range, to raise $620 million. The IPO valued McAfee, backed by US private equity firms TPG and Thoma Bravo, at $8.6 billion based on total outstanding shares. The company also had $4.8 billion in debt as of the end of June.
McAfee had aimed to sell 37 million shares at a target price range of $19-$22 per share. McAfee declined to comment. TPG acquired a majority stake in McAfee from Intel Corp in 2016 in a deal that valued the company at $4.2 billion, including debt. Thoma Bravo took a minority stake in McAfee in 2017.
In the last few years, McAfee has grown its main cybersecurity software business, which focuses on consumers, through price increases, new partner programs, and good retention rates.
7. Amazon announces $100 million logistics investment in Mexico: REUTERS
Amazon.com has invested $100 million in opening new warehouses in Mexico, including its first shipping centers outside the populous capital area, in a bid to offer faster deliveries.
The new sites include two so-called fulfillment centers - one near the northern city of Monterrey and another near the central city of Guadalajara - and a support building in the State of Mexico, just outside Mexico City.
Amazon also opened 12 delivery stations, bringing its total to 27 across the country.
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