Uber sells food delivery service in India to Zomato – TechCrunch
Ride-hailing giant Uber announced that it has sold its food delivery business in India, Uber Eats, to local competitor Zomato, TechCrunch wrote.
Uber would own 9.99 per cent of Zomato following the deal. Its users would also become part of the company.
According to two people familiar with the matter, the deal valued Uber Eats India between US$160 million and US$200 million.
Entering India in 2017, Uber Eats had initiated the conversation to sell the business in late 2018.
The report also stated that some Uber Eats employees are being given the option to join Zomato while the rest will be let go.
Malaysia to roll out commercial 5G in Q32020 – Bangkok Post
Malaysian Prime Minister Mahathir Mohamad said that the country is gearing to launch 5G cellular network by the third quarter of this year, Bangkok Post wrote.
The country is testing out the 5G technology in 56 sites across the country for fields such as health care, agriculture, education, public safety and tourism.
“If we apply 5G properly, the development of Malaysia will take a much shorter time. Maybe not 2030, maybe by 2035, we should achieve our objective of becoming a developed country,” he told reporters on Monday after watching a demonstration of 5G wireless technology at police headquarters in Langkawi.
Also Read: Today’s top tech news, Aug 23: Indian restaurant association boycotts Zomato, others
Alphabet, Microsoft disagree on EU facial recognition ban – SCMP
Following the European Union’s proposal for a temporary ban on facial recognition technology, Alphabet CEO Sundar Pichai and Microsoft President Brad Smith shared their dissenting opinions, South China Morning Post reported.
Pichai supported the moratorium as the technology can be used for “nefarious purposes”. Meanwhile, Smith likened the ban to using a meat cleaver, instead of a scalpel, to solve potential problems.
Myanmar’s waste management startup RecyGlo is raising US$900K to expand to Indonesia, Singapore – e27
Yangon-based waste management and data analytics startup RecyGlo announced that it is in advanced stages of raising a US$900,000 investment round to expand in existing markets and foray into new ones.
The startup is currently raising a US$350,000 bridge funding and expects to make the final close of the ongoing round by the end of Q2.
The company, however, didn’t share the investors’ details.
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