Google temporarily halts enforcing billing system in India; Freshworks grows 37 pct in Q3, raises full-year forecast
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Google has temporarily halted enforcing its Google Play app store rule that developers use its proprietary billing system in India after the country’s Competition Commission ruled the practice anti-competitive, last month. Freshworks beat its guidance for fiscal Q3 revenue with a 37 percent increase in constant currency. The company raised its full-year projection, although the December quarter growth is expected at a slower, 27-28 percent range. Notes: Google has temporarily halted enforcing its Google Play app store rule that developers use its proprietary billing system in India after the country’s Competition Commission ruled the practice illegal, last month. “Following the Competition Commission of India's recent ruling, we are pausing enforcement of the requirement for developers to use Google Play's billing system for the purchase of digital goods and services for transactions by users in India while we review our legal options,” Google said in an update on its support page. Elon Musk said he will give “power to the people” by offering verification through Twitter Blue for $8 a month, CNBC reports, citing a thread of tweets by the world’s richest person, who bought the microblogging platform provider last month. Musk said participants will get priority in mentions, replies and search, receive half as many ads and will be able to tweet long videos and audio, according to CNBC. Freshworks, a Silicon Valley and Chennai-based cloud software provider for customer support, beat its guidance for its fiscal Q3 revenue which rose 37 percent in constant currency. The company raised its full-year projection, although the December quarter growth is expected at a slower, 27-28 percent range, according to a company press release. Sales for the three months ended Sep. 30 rose to $128.8 million, a 33 percent increase in reported terms, year-on-year, and 37 percent growth in constant currency terms, which eliminates the effect of fluctuating currency rates. Freshworks had projected an increase of 31-33 percent in August. The company is projecting a slower 27-28 percent growth for the current quarter but still expects to grow 36-37 percent for the full year, which is a 100-basis-point higher than its August projection of 35-36 percent. Volocopter, a German startup building electric vertical takeoff and landing vehicles, has secured $182 million for the second signing of its Series E round. That’s on top of the $170 million Volocopter raised for the same round in March at a $1.87 billion post-money valuation, TechCrunch reports. Volocopter is currently testing its two-seater VoloCity air taxi based on the requirements set by the European Union Aviation Safety Agency. The fresh funds will help the company accelerate testing and get closer to certification and commercialisation, TechCrunch reports. Modl.ai, a Danish startup building automated testing software for game developers, has raised $8.4 million in a series A funding, in a round led by Griffin Gaming Partners and Microsoft’s M12 venture fund, VentureBeat reports. Modl.ai seeks to automate processes like debugging and quality assurance testing for game developers. Theme music courtesy Free Music & Sounds: https://soundcloud.com/freemusicandsounds
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