Resha Mandi lays off 80% of staff after fundraising failure
Bengaluru-based B2B marketplace ReshaMandi, specialising in silk products, has laid off 80% of its employees after failing to raise Series B funding.The company has been drastically downsizing its operations since last year. It is reported that it will drastically downsize from 500 employees in January 2023 to around 100 by the end of the year. And in the process, around 300 employees are still waiting for their final dues and salary payments. You can read more about how they got to this situation on ReshaMandi.
Meta restructures Reality Labs, laying off some employees
Facebook’s parent company Meta is restructuring its Reality Labs division, splitting it into two groups: Metaverse and Wearables. The restructuring 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, including Ray-Ban smart glasses. For more details on the restructuring, visit Meta.
US Department of Justice files lawsuit against Adobe
The U.S. government has filed a lawsuit against Adobe, accusing the company of misleading consumers by hiding cancellation fees and making it difficult for customers to cancel their subscriptions. The Department of Justice (DOJ) alleges that Adobe’s actions harm consumers and violate federal laws designed to protect them. Read on to find out more about the lawsuit.
The online gaming industry continues to wait
Federal Minister of Finance Nirmala Sitharaman The Finance Minister chaired the 53rd GST Council meeting where several decisions were taken to improve trade, ease tax compliance and provide relief to taxpayers. 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 topic was not raised during the meeting. Read on to know what Finance Minister Nirmala Sitharaman had to say on the matter.
Google launches Gemini app in India in nine regional languages
Google, Gemini The app has launched in India and now supports nine Indian languages in addition to English. The app aims to make AI assistants 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 suspends development of new AI features in Europe
European Apple customers may have to wait a little longer for exciting new features for the iPhone. The tech giant announced on Friday that it will stop rolling out three new features, including Apple Intelligence, in the EU this year. Why? It’s all because of DMA. Read more about what Apple and the EU have to say about it here.
Netflix launches its own popcorn series
Netflix has announced that it will be selling its own popcorn, Netflix Now Popping, in two flavors straight out of the movie: Cult Classic Cheddar Kettle Corn (for cheese lovers) and 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 to discontinue Pay Later
Apple has confirmed that it is discontinuing 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 on to find out what happened with Apple’s Pay Later service.
Motorola Edge 50 Ultra launched in India
Motorola 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 India
Realme 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 on to find out more about Realme’s new smartphone.
