Google and its American internet peers are steadily amping up their investment in India, latching onto the only other country with a billion-plus population after getting shut out of China. From Amazon.com Inc to Facebook Inc, they’re hoping to get in on the ground floor of what they envision as a smartphone and online commerce boom that could eventually create a market to rival the world’s No 2 economy.
The online search leader has struck an alliance with Mukesh Ambani’s Reliance Industries Ltd to invest $4.5 billion and cooperate on technology initiatives including the development of affordable mobile phones. But they’re also teaming with smaller outfits to target more local audiences.
Dec 23 2020, 6:29 PM
December 22 2020, 12:46 PM
December 23 2020, 6:29 PM
(Bloomberg) Google investments helped create Indiaâs two youngest technology unicorns: a pair of startups that feed personalized news and entertainment to the worldâs fastest-growing smartphone population.
(Bloomberg) Google investments helped create Indiaâs two youngest technology unicorns: a pair of startups that feed personalized news and entertainment to the worldâs fastest-growing smartphone population.
Glance, which feeds news and sports scores to phone-lock screens, is said to have reached a valuation of more than $1 billion after completing a funding round led by Google. And VerSe Innovation Pvt, the studio behind the popular Dailyhunt news site and TikTok-like Josh app, said it passed that threshold after winning more than $100 million from Alphabet Inc.âs search giant and Microsoft Corp.
Google, Microsoft Invest in booming India made TikTok rival hindustantimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from hindustantimes.com Daily Mail and Mail on Sunday newspapers.
Google invests in two Indian startups
While Google did not disclose details of its latest investments, separate announcements by investee companies stated that Google has participated in Glance s USD 145 million (about Rs 1,071.5 crore) and VerSe Innovation s USD 100 million (about Rs 739 crore) funding rounds.
Google India FY20 revenue rises 35% to Rs 5,593.8 crore, profit up 24%
(Photo by Lionel BONAVENTURE / AFP)
Google on Tuesday said it has invested in two Indian startups - Glance and VerSe Innovation - as part of its USD 10 billion Google for India Digitisation Fund to enable them to further scale up availability of content in different formats across various Indic languages.
Glance raises $145 million from Google, Mithril Capital
In September last year, Glance had raised USD 45 million (over Rs 323 crore) in funding from Austin-based Mithril Capital, and the latest round takes the total fund raising by Glance to USD 190 million. PTI December 22, 2020 / 12:40 PM IST
Glance, a part of SoftBank-backed InMobi Group, on Tuesday said it has closed a USD 145 million (around Rs 1,071.6 crore) investment round from Google and existing investor, Mithril Capital.
In September last year, Glance had raised USD 45 million (over Rs 323 crore) in funding from Austin-based Mithril Capital, and the latest round takes the total fund raising by Glance to USD 190 million.