CURRENT AFFAIRS

2019

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
Which company has acquired majority stake of Google-backed firm-Fynd?
A
HCL Technologies
B
Tata Consultancy Services
C
Infosys
D
Reliance Industries
Explanation: 

Detailed explanation-1: -Hence, the deal makes acute sense for Reliance Industry Limited. Backed by Google – Fynd had raised over Rs 100 crore from over 50 investors including IIFL, Kae Capital, Patni and Axis Capital amongst many others.

Detailed explanation-2: -Fynd was founded by Farooq Adam, Harsh Shah, and Sreeraman MG in 2012 and was also backed by Google.

Detailed explanation-3: -Fynd, a Reliance-owned startup, is helping retail businesses accelerate growth. It is a one-stop shop for building omni-channel solutions using innovative retail technology reducing the complexities of adding new brands, channels, store locations, fulfillment centers, and more.

Detailed explanation-4: -Fynd, which takes a small commission on each transaction that occurs online, is already profitable on an operating level and expects to be fully profitable in the coming quarters, Shah said.

There is 1 question to complete.