Tech Fridays 💻 | 4th June '21

Softbank ❤️ Flipkart, Urban Company's 🦄 status, Twitter Spaces & Blue + more.

Hi, Ravdeep here. 👋

Perfunktory is a newsletter that aims to break down trending subjects in the field of Music, Technology, Gaming and Culture as perfunctorily1 as possible. Keeping it perfunctory helps the discourse to be as candid as it can be.

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Softbank to invest in Flipkart? 🏦

After exiting Flipkart in 2018, Softbank Group is in talks to invest $700 Mn in the ECommerce marketplace again, according to reports. The proposed investment is from SoftBank’s Vision Fund 2 & is part of a $1.2 - $1.5 Bn funding round, which will bring it's value to $28b.

RBI on Crypto 🇮🇳

Reserve Bank of India said banks and other regulated entities cannot cite its April '18 order on virtual currencies as it has been set aside by the Supreme Court of India. The clarification came after SBI and HDFC Bank cautioned customers against dealing in crypto citing the April '18 order.

Urban Company unicorn status 🦄

Urban Company announced its entry into the unicorn club with $255 Mn Series F funding round led by Prosus Ventures, Dragoneer and Wellington Management, with participation from Vy Capital, Tiger Global and Steadview. Urban Company is now valued at $2.1 Bn.

Twitter dedicates space to Spaces 📱

Twitter Spaces is getting a dedicated section on the Twitter app. The section for the feature would be right between the “explore” section and the notifications tab. The new tab is only available to “around 500” people who were among the first beta testers of Spaces.

Twitter Blue is CONFIRMED 🐦

Twitter Blue is finally confirmed. The rumors about Twitter's often talked about paid subscription service are true. which is rolling immediately in Canada and Australia. Bookmark Folders, Undo Tweet, Reader Mode - confirmed.

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Perfunctory - an action carried out without real interest, feeling, or effort.