Troubled co-working giant WeWork continues to be in the news. This time the India franchisee, owned by real estate firm Embassy Group, is reportedly raising $200 million by the end of this year.
There are reports that suggest that the company is downsizing its headcount by cutting 500 jobs from technology roles. The company which employs 15,000 people is likely to let go of 2000 employees overall.
Other big news this week was social commerce platform DealShare raising $11 million in seed and Series A rounds led by venture capital firm Matrix Partners India and hedge fund Falcon Edge.
We also caught up with Sandeep Murthy, founder of Mumbai-based venture capital firm Lightbox this week where he spoke about the company’s operator-VC model and his transition from Silicon Valley venture capital firms Sherpalo Ventures and Kleiner Perkins.
Cybersecurity company Symantec Corporation released a study which said Internet of Things (IoT) devices are becoming increasingly vulnerable to targeted attacks. Also, networking giant Cisco revealed that India-based enterprises are facing longer downtimes and higher costs from cyber breaches than in the Asia-Pacific and other global peers.
Join our reporters as they bring you up to speed with all these developments in the latest episode of our podcast TechThisWeek #TTW.
Stay on top of everything tech!