Connect with us

Business

Amazon’s Jeff Bezos announces additional $3B investment in India during PM Modi’s visit

Published

on

India's Prime Minister Narendra Modi (L) presents the Global Leadership Award to Amazon CEO Jeff Bezos at the U.S.-India Business Council (USIBC) 41st annual Leadership Summit in Washington, U.S., June 7, 2016. REUTERS/Yuri Gripas

India’s Prime Minister Narendra Modi (L) presents the Global Leadership Award to Amazon CEO Jeff Bezos at the U.S.-India Business Council (USIBC) 41st annual Leadership Summit in Washington, U.S., June 7, 2016. REUTERS/Yuri Gripas

WASHINGTON (Diya TV) — Amazon CEO Jeff Bezos announced Tuesday the company plans to invest an additional $3 billion in India, a figure which brings the company’s total investment in the country to over $5 billion.

“Our Amazon.in team is surpassing even our most ambitious planned milestones, and I’m pleased to announce today that we’ll invest an additional $3 billion on top of the $2 billion that we announced in 2014, bringing our total investment in India to over $5 billion.”

During an event in Washington D.C. that was attended by Indian Prime Minister Narendra Modi — who earlier met with U.S. President Barack Obama at the White House — Bezos said that India was Amazon’s fastest-growing region. In China, the company has struggled to compete with Alibaba’s home-grown Chinese sites like Taobao and Tmall.

A survey taken in March revealed that Indian consumers trust Amazon’s brand more than any other online retailer. Domestically, the company competes with web retailers such as Flipkart and Snapdeal.

“I can assure you it’s only the beginning and as we say in Amazon, it’s only day one,” Bezos said. He said the investments would help the country’s startups, and accelerate India’s role as a hub for innovation and digital entrepreneurship.

Bezos announced Amazon plans to open a Web Services Cloud Region in India this year and that the country would soon become home to the company’s largest software and engineering development center outside of the United States. The center will be located in Hyderabad. He said Amazon has thus far built 21 fulfillment centers that have the ability to service postal codes in the country because of its marriage with India Post.

The Hyderabad center will create jobs and career development opportunities for thousands of India’s residents, Bezos said. Even more jobs will become made available over time because of the deployment of Amazon Cloud Services.

“This award is a recognition of the fact that we have already created some 45,000 jobs in India and continue to see huge potential in the Indian economy,” he said.

Bezos’ speech was delivered the same day Warren Buffet praised the executive for embodying the potential of small business owners who build their companies.

Business

FCC Chairman Ajit Pai on diversifying TV station ownership

Published

on

WASHINGTON (Diya TV) —    FCC Chairman Ajit Pai says he’s aware the incentive auction nearly wiped out TV stations owned by women & minorities. How he’s addressing the issue, plus the on-going battle over net neutrality, robocalls & his evolution from staffer to Commissioner to Chair on an all-new The Public Interest with Ravi Kapur, Sunday at 9 am & 5pm exclusively on DiyaTV!

Continue Reading

Business

Elon Musk says Tesla plans to be in India by 2020

Published

on

SAN FRANCISCO (Diya TV) —   India’s richest man, Mukesh Ambani, just helped his brother Anil out of a major jam, despite their past differences. Anil’s Reliance Communications owed $77 million to Ericsson and he faced jail for non-payment. But in a statement, the company announced the debt was addressed, implying older brother Mukesh had taken care of the bill.

India’s second-richest man, Azim Premji, is making news of own by giving billions to charity in what is thought to be largest donation ever seen in India.

The tech tycoon has now allocated a total of $21 billion to the Azim Premji Foundation.

Tesla CEO Elon Musk tweeted he wants to bring their electric cars to India this year or by 2020. He has blamed tough policies for delaying the carmaker’s entry into India in the past. India is the world’s fourth largest automobile market.

Adding to the pacts they’ve struck over the last three years, India and the United States are close to finalizing a new deal to deepen defense industry collaboration.

And representatives from six social media platforms met with Indian election officials, holding discussions on ways to tackle fake news and authenticate political ads in advance of elections there next month.

Ravi Kapur & Alejandro Quintana contributed to this report.

Continue Reading

Business

Veteran tech executive Raghu Rau named TiVo interim CEO

Published

on

Veteran tech executive, Raghu Rau named interim CEO of TiVo

SAN JOSE, Calif. – (Diya TV) Raghu Rau, a veteran executive and board member of TiVo is named interim CEO and President of TiVo Corporation. He replaces Enrique Rodriguez, who resigned only 8 months into his stint as TiVo CEO to become Liberty Systems CTO in Europe. Rodriguez took on the helm at TiVo in November of last year, succeeding longtime President & CEO, Thomas Carson. He previously held executive positions at AT&T, Sirius XM, Microsoft’s Xbox and Cisco Systems.

Rau has served on the TiVo Board since 2015 and brings decades of leadership experience from helming video software vendor SeaChange International. Previously, Rau held multiple senior management positions at Motorola Inc. Since August 2017, he also serves as the Chairman of the Board for Quantum, a storage, archive and data protection vendor.

TiVo shares over the past year have dropped nearly 37% as the TV pioneer tries to adjust direction in the evolving video & media landscape.

Rodriguez will remain a part of TiVo’s board during the transition. In a statement Rodriguez said, “My personal decision to pursue another opportunity was not easy. I couldn’t be more excited about what lies ahead for TiVo as I expect our performance through the second quarter of 2018, including our announced profit improvement actions, to be ahead of our internal plan. I am looking forward to continue my relationship with TiVo in my new role as a customer and partner. Until then, I am committed to working with the TiVo team to ensure a seamless transition.”

Chairman of TiVo’s Board of Directors, James Meyer remarked, “On behalf of the Board, I want to thank Enrique for his leadership and we wish him the best in his next chapter. We are fortunate to have a world-class leadership team in place and are pleased to have someone of Raghu’s caliber step in to lead the Company. He has been a member of the TiVo Board of Directors since 2015 and is a proven leader with extensive experience in the video industry and in the management of intellectual property. I am confident that Raghu, alongside the rest of the leadership team, will continue to drive the value that TiVo’s innovative technology portfolio brings to the fast-growing and hyper-competitive entertainment industry.”

Rau is happy to take on the challenge, saying “this is an exciting time for TiVo and I am eager to jump in as interim President and Chief Executive Officer. I look forward to working closely with our outstanding management team as we continue to innovate, profitably grow our customer base in key market segments, and expand our international presence. I also look forward to working with the Special Committee of the Board to bring our strategic alternatives process to a successful, value creating solution for our shareholders.”

Rovi acquired TiVo for $1.1 billion in 2016 and took on the DVR company’s name.

Continue Reading

Trending

Diya TV , Inc. © 2017 All Rights Reserved