The biggest change for technology startups came on November 8, when the government announced its decision to ban currency notes of Rs 500 and 1,000. Suddenly technology became a large driver for commerce. While retail sales in pockets dropped up to 50%, sales for e-tailers fell 20%. It was also a year of large cultural shifts – more number of buyers shopped online than ever before, and demonetisation added to the drive.
Ravi Bhaskaran, Twitter’s Platform Partnerships Head, South Asia, quit his position on Wednesday.
Rishi Jaitly, Head of Twitter India, resigned and that was not surprising for most employees, who knew that the domestic market will also get effected by the micro-blogging site’s global restructuring programme, as the company failed to get new users and generate higher advertising revenue, giving way to Facebook, Google and Snapchat.
The exits in Twitter’s senior management who helped build the India business over years, signal the company’s co-founder and new CEO, Jack Dorsey’s, inclination to make significant changes in the way the domestic business is handled.
Advertising powered Internet giant Alphabet Inc.’s revenue growth in the second quarter, as it has for years now. Revenue at Alphabet—Google’s parent firm, formed in 2015—rose 21% to $21.5 billion in April-June from a year ago. Advertising revenue reached $19.14 billion, a 19% year-on-year (y-o-y) increase.
On June 13, 2016 Microsoft announced the agreement to acquire LinkedIn for USD 26.2 billion. Important to note that this is the first big deal under Satya Nadella’s leadership and LinkedIn will continue to operate as an independent company. Albeit this (in theory) will allow more room for innovation, let’s put this announcement in perspective:
By acquiring LinkedIn, Microsoft is looking at further strengthening its business from corporates in India and social networking play, an area in which it lags behind Facebook. Analysts feel that Microsoft’s Productivity and Business Processes as one of the three segments that could get a shot in the arm with the LinkedIn buy.