ReshaMandi lays off 80% of employees due to cash crunch, Meta’s Reality Labs restructuring, US sues Adobe over subscription practices, GST debate on online gaming in India ongoing, Google launches Indian version of Gemini app, and more. Read this week’s top tech news.
ReshaMandi lays off 80% of employees after fundraising fails Bengaluru-based B2B marketplace specialising in silk yarn products has laid off 80% of its employees following a failed Series B fundraising. The company has significantly scaled down its operations since last year. From 500 employees in January 2023, the company has reportedly downsized to around 100 by the end of the year. And in the process, around 300 employees are still waiting for their final wages and salaries. For more details on what led to this situation, please visit ReshaMandi.
Meta reorganizes Reality Labs, laying off some employees Facebook parent company Meta is reorganizing its Reality Labs division, splitting it into two groups: Metaverse and Wearables. The reorganization will result in some employee layoffs, although the exact number is not yet known. The Metaverse division of Reality Labs will focus on Oculus headsets, while the Wearables division will work on other wearable products, such as Ray-Ban smart glasses. For more details on the reorganization, visit Meta.
US Department of Justice Sues AdobeThe US government has sued Adobe, alleging that the company misled consumers by hiding cancellation fees and making it difficult for customers to cancel subscriptions. The Department of Justice (DOJ) alleges that Adobe’s actions harmed consumers and violated federal laws designed to protect them. Read on to find out more about the lawsuit.
The wait for the online gaming industry continues. Union Finance Minister Nirmala Sitharaman chaired the 53rd GST Council meeting where several decisions were taken to improve trade, ease tax compliance and provide taxpayer relief. Online gaming companies had expected a revision in the 28% Goods and Services Tax (GST) rate applicable to the industry and online casinos, but the Finance Minister clarified that the issue was not raised during the meeting. Read more about Finance Minister Nirmala Sitharaman’s remarks on the matter.
Google launches Gemini app in India in nine regional languages ​​Google has launched the Gemini app in India, supporting nine Indian languages ​​in addition to English. The app aims to make the AI ​​assistant more accessible to users in the country. Gemini currently supports Hindi, Bengali, Gujarati, Kannada, Malayalam, Marathi, Tamil, Telugu, and Urdu. Users can get AI assistance on the go by typing, talking, adding images, and more. Learn more about what Gemini can do for you.
Apple pauses rollout of new AI features in Europe. European Apple customers may have to wait a little longer for exciting new features on their iPhones. The tech giant announced on Friday that it was pausing the EU rollout of three new features this year, including Apple Intelligence. Why? It’s all because of DMA. Read more about what Apple and the EU have to say on the matter here.
Netflix Launches Its Own Popcorn LineNetflix has announced that it will be launching its own popcorn line, Netflix Now Popping. It will have two flavors straight out of the movies: Cult Classic Cheddar Kettle Corn (for cheese lovers) and the mouthwatering Cinnamon Kettle Corn (for those with a sweet tooth). Read on to find out how much it costs and where to buy it.
Apple ends Pay LaterApple has confirmed that it is ending its buy now, pay later service, Apple Pay Later, and will instead introduce a new global installment loan service later this year. The new feature will allow users to take out installment loans through credit and debit cards and lenders when using Apple Pay. Read more about what happened with Apple’s Pay Later service here.
Motorola Edge 50 Ultra launched in IndiaMotorola has launched the Edge 50 Ultra in India. The phone features a 6.7-inch 1.5K 144Hz pOLED, Snapdragon 8s Gen 3, and a 50MP triple camera setup. The Motorola Edge 50 Ultra is priced at Rs 59,999. To know more about the Edge 50 Ultra, click here.
Realme launches GT6 in IndiaRealme has launched the second smartphone in its GT6 series in India, the GT6. The smartphone comes with a 6.78-inch 1.5K 8T LTPO AMOLED, Snapdragon 8s Gen 3, and three 50MP cameras. Prices for the Realme GT6 start at Rs 40,999. Read more about Realme’s new smartphone.
ReshaMandi lays off 80% of employees after fundraising fails Bengaluru-based B2B marketplace specialising in silk yarn products has laid off 80% of its employees following a failed Series B fundraising. The company has significantly scaled down its operations since last year. From 500 employees in January 2023, the company has reportedly downsized to around 100 by the end of the year. And in the process, around 300 employees are still waiting for their final wages and salaries. For more details on what led to this situation, please visit ReshaMandi.
Meta reorganizes Reality Labs, laying off some employees Facebook parent company Meta is reorganizing its Reality Labs division, splitting it into two groups: Metaverse and Wearables. The reorganization will result in some employee layoffs, although the exact number is not yet known. The Metaverse division of Reality Labs will focus on Oculus headsets, while the Wearables division will work on other wearable products, such as Ray-Ban smart glasses. For more details on the reorganization, visit Meta.
US Department of Justice Sues AdobeThe US government has sued Adobe, alleging that the company misled consumers by hiding cancellation fees and making it difficult for customers to cancel subscriptions. The Department of Justice (DOJ) alleges that Adobe’s actions harmed consumers and violated federal laws designed to protect them. Read on to find out more about the lawsuit.
The wait for the online gaming industry continues. Union Finance Minister Nirmala Sitharaman chaired the 53rd GST Council meeting where several decisions were taken to improve trade, ease tax compliance and provide taxpayer relief. Online gaming companies had expected a revision in the 28% Goods and Services Tax (GST) rate applicable to the industry and online casinos, but the Finance Minister clarified that the issue was not raised during the meeting. Read more about Finance Minister Nirmala Sitharaman’s remarks on the matter.
Google launches Gemini app in India in nine regional languages ​​Google has launched the Gemini app in India, supporting nine Indian languages ​​in addition to English. The app aims to make the AI ​​assistant more accessible to users in the country. Gemini currently supports Hindi, Bengali, Gujarati, Kannada, Malayalam, Marathi, Tamil, Telugu, and Urdu. Users can get AI assistance on the go by typing, talking, adding images, and more. Learn more about what Gemini can do for you.
Apple pauses rollout of new AI features in Europe. European Apple customers may have to wait a little longer for exciting new features on their iPhones. The tech giant announced on Friday that it was pausing the EU rollout of three new features this year, including Apple Intelligence. Why? It’s all because of DMA. Read more about what Apple and the EU have to say on the matter here.
Netflix Launches Its Own Popcorn LineNetflix has announced that it will be launching its own popcorn line, Netflix Now Popping. It will have two flavors straight out of the movies: Cult Classic Cheddar Kettle Corn (for cheese lovers) and the mouthwatering Cinnamon Kettle Corn (for those with a sweet tooth). Read on to find out how much it costs and where to buy it.
Apple ends Pay LaterApple has confirmed that it is ending its buy now, pay later service, Apple Pay Later, and will instead introduce a new global installment loan service later this year. The new feature will allow users to take out installment loans through credit and debit cards and lenders when using Apple Pay. Read more about what happened with Apple’s Pay Later service here.
Motorola Edge 50 Ultra launched in IndiaMotorola has launched the Edge 50 Ultra in India. The phone features a 6.7-inch 1.5K 144Hz pOLED, Snapdragon 8s Gen 3, and a 50MP triple camera setup. The Motorola Edge 50 Ultra is priced at Rs 59,999. To know more about the Edge 50 Ultra, click here.
Realme launches GT6 in IndiaRealme has launched the second smartphone in its GT6 series in India, the GT6. The smartphone comes with a 6.78-inch 1.5K 8T LTPO AMOLED, Snapdragon 8s Gen 3, and three 50MP cameras. Prices for the Realme GT6 start at Rs 40,999. Read more about Realme’s new smartphone.