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Snapchat CFO Drew Vollero Steps Down, Replaced By Amazon Exec Tim Stone

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According to reports, the famous multimedia messaging app Snapchat’s Chief Financial Officer (CFO,) Drew Vollero is going to leave the company next week. The position will be replaced by the electronic ecommerce Amazon’s Senior Executive, Tim Stone.

Tim Stone has been the vice president of Finance at Amazon since 1998. He is all set to take over the CFO’s position of Snapchat on 16 May, 2018. He is going to report to the Chief Executive Officer of Snap Inc., Evan Spiegel.

Drew Vollero on the other hand has been with Snapchat for three years. He originally joined as VP of Finance, and was always expected to become the CFO eventually, which did not really happen. He played a key role in leading Snapchat through a successful initial public offering in 2017. However, Snap stock, since the last year has been on a downward spiral. The company also missed its revenue and user growth targets on several occasions. Previous year, Snapchat proudly announced a complete overhaul of the app, which as we all know was widely disliked by the majority of the users. From celebrities to teenagers, everyone expressed their dislike toward the app post the changes. It has been running through a rough phase lately.

As of now Snap is struggling to reach its expenses with Google Cloud and Amazon’s Web Services Cloud (AWS) and its AWS costs are going to increase by $75 million a year until 2021. Spiegel commended Vollero’s “contributions to the growth of Snap,” in a statement. He further added, “He (Vollero) has done an amazing job as Snap’s first CFO, building a strong team and helping to guide us through our transition to becoming a public company. The discipline that he has brought to our business will serve us well into the future. We wish Drew continued success and all the best.”

Vollero also made a statement “I am proud of all that the finance department has accomplished leading up to the IPO and work done to streamline the company.Mr. Vollero will continue to remain as an adviser to help with the transition until August 15, 2018.

 

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PayU Gets Final RBI Nod to Operate as Payment Aggregator Ahead of 2025 IPO

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PayU India, owned by Prosus, has received final approval from the Reserve Bank of India (RBI) to operate as an online payment aggregator, a year after getting in-principle approval in April 2024. This authorization allows PayU to onboard new merchants and offer digital payment solutions, joining other major players like Razorpay, CCAvenue, and BillDesk.

The RBI’s nod comes as PayU prepares for its planned IPO in the second half of 2025, following a delay from its original 2024 timeline due to market conditions. The company, which serves over 450,000 merchants, reported $319 million in revenue from its core payments and credit business in the first half of FY25.

PayU stated that the approval will help it build a resilient, compliant, and innovation-driven institution, supporting merchants of all sizes and advancing the Digital India vision. The company has also strengthened its risk management and expanded its presence in real-time payments through a strategic stake in Mindgate Solutions.

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Google’s Iconic ‘G’ Logo Gets First Update in 10 Years

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Google has refreshed its iconic ‘G’ logo for the first time in nearly 10 years, replacing the familiar solid blocks of red, yellow, green, and blue with a smooth, vibrant gradient that blends these colors seamlessly. This subtle update gives the logo a softer, more fluid, and modern appearance, aligning with Google’s evolving digital identity and current design trends.

The new gradient transitions smoothly from red to yellow, yellow to green, and green to blue, making the logo more visually appealing and adaptable across various devices, especially on mobile platforms. This redesign also reflects Google’s growing emphasis on artificial intelligence, echoing the gradient style used in the branding of Google Gemini, the company’s AI-generative assistant.

The updated ‘G’ logo has started rolling out on iOS through the Google Search app and on some Android devices, particularly Pixel phones running the Google app beta version 16.18. However, most other platforms, including the web and non-Pixel Android devices, still display the classic solid-color logo. A wider rollout is expected in the coming weeks.

So far, Google’s main wordmark and other product logos like Chrome, Maps, and Gmail remain unchanged. Given the shift toward gradient designs and AI-inspired visuals, similar updates to other Google icons may follow in the future.

In summary, this first major update to the ‘G’ logo since 2015 signals a subtle but meaningful shift in Google’s branding strategy, blending tradition with innovation as the company deepens its focus on AI and modern design aesthetics.

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Ixigo Halts Bookings for Flights and Hotels to Turkey, China

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Indian online travel platform ixigo has suspended all flight and hotel bookings to Turkey, China, and Azerbaijan in response to these countries expressing support for Pakistan after India’s military strikes-dubbed ‘Operation Sindoor’-against terror bases in Pakistan and Pakistan-Occupied Kashmir. The move, announced by CEO Aloke Bajpai on X, was described as an act of solidarity with India during heightened diplomatic tensions following the Pahalgam terror attack.

ixigo’s decision aligns with similar actions by other Indian travel companies, including EaseMyTrip and Cox & Kings, which have also restricted travel services to Turkey, China, and Azerbaijan. The suspensions come amid widespread calls for boycotts after these countries condemned India’s military response and backed Pakistan.

The travel industry’s collective response underscores how geopolitical developments are influencing business decisions, with Indian companies emphasizing national interests and unity in the face of international criticism

 

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