Hey everyone,
Here are some of the most important tech news stories for today, August 8, 2023.
- Global investors skip Ant's buyback after valuation slumps 70%. Ant Group's plan to buy back shares from investors has been met with a tepid response, with many global investors choosing to skip the opportunity. The company's valuation has fallen by more than 70% since its IPO in 2020, and investors are concerned about the regulatory environment in China.
- US tech groups back TikTok in challenge to Montana state ban. A group of US tech companies, including Google, Microsoft, and Amazon, have filed a brief in support of TikTok in its challenge to a Montana state ban on the app. The ban was passed in response to concerns about TikTok's data collection practices, but the tech companies argue that the ban is unconstitutional.
- Amazon set to meet with US FTC ahead of potential antitrust lawsuit. Amazon is set to meet with the US Federal Trade Commission (FTC) ahead of a potential antitrust lawsuit. The FTC is reportedly investigating Amazon for anticompetitive practices, such as using its market power to stifle competition. Amazon has denied any wrongdoing.
- Decoding the Digital Personal Data Protection Bill 2023. The Indian government has released the draft of the Digital Personal Data Protection Bill 2023, which is designed to regulate the collection, use, and sharing of personal data by businesses. The bill is still in its draft stage, but it is already generating a lot of discussion.
- Bessemer says India SaaS is on track to touch $50 billion by 2030. Bessemer Venture Partners, a venture capital firm, has said that the Indian software-as-a-service (SaaS) market is on track to touch $50 billion by 2030. The firm cited the growing adoption of SaaS by businesses in India as a key driver of growth.
These are just a few of the most important tech news stories for today. For more tech news, be sure to check out our website and follow us on social media.
Thanks for reading!
No comments:
Post a Comment