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Facebook To Be Fined A Fortune Over Cambridge Analytica Scandal!

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Facebook Fined Over Cambridge Analytica Scandal,Startup Stories,Startup News India,Facebook Cambridge Analytica,Cambridge Analytica India,Cambridge Analytica Latest News,New Data Protection Act,Facebook CEO Mark Zuckerberg,Facebook Chief Privacy Officer,Facebook Fined for Data Breach

In 2017, the UK Information Commissioner’s Office (ICO) launched an inquiry into voters’ data being obtained and used by political campaigns. This was following the Observer’s early investigative reports, into Cambridge Analytica, the political research firm. Facebook and Cambridge Analytica have been under scrutiny, for harvesting the data of millions of Facebook users around the globe, with the total number of people affected now at 87 million. The social media giant Facebook will be fined $ 664,000 for failing to protect users’ information by the UK’s privacy watchdog. While a fine of $ 664,000 is the biggest possible punishment available to the ICO, it is the same amount of money Facebook makes in just a few minutes. At the time of the infraction, the law on processing data was set out under the Data Protection Act of 1998, which imposed a maximum penalty of £ 500,00. However, Under the new Data Protection Act 2018, companies can be fined up to 4 % of global turnover, a substantially more serious penalty. In Facebook’s case, a fine could be as high as $ 1.9 bn, based on its revenue.

Elizabeth Denham, the Information Commissioner said she would penalize the social network platform as her office investigates how the data of millions of users was improperly accessed. Earlier, the CEO of Facebook Mark Zuckerberg was questioned by the U.S., and the EU lawmakers over how Cambridge Analytica accessed the personal data of such a huge number of Facebook users. During the EU referendum, Facebook was found to be at fault for failing to be clear about how the information had been harvested by others. According to reports, Denham said Facebook has failed to provide the kinds of protections they’re required to do under data protection laws.

However, the penalty could change as the agency would discuss the matter further with Facebook. Generally, the ICO does not reveal its initial investigations but this time, it shared the details of the amount of the penalty because of the hyped public interest toward the scandal. Also, the agency would next give an update in October, this year.

Erin Egan, Facebook’s Chief Privacy Officer, acknowledged in a statement Facebook should have done more to investigate claims about Cambridge Analytica and take action in 2015. Apart from this, the UK privacy watchdogs said the fallout from Facebook’s Cambridge Analytica scandal is only the beginning. The UK’s early efforts could inform ongoing investigations elsewhere in Europe as well as the United States, where a probe by the Federal Trade Commission could result in a penalty well into the hundreds of billions of dollars. The FBI and the Securities and Exchange Commission are also looking into Facebook’s ties to Cambridge Analytica.

 

 

 

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Blissclub Raises INR 33 Crore in Fresh Funding Months After Layoffs

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Blissclub, the women-centric D2C apparel brand, has raised INR 33 crore in a Pre-Series B funding round led by Elevation Capital, with Eight Roads Ventures also participating. This funding comes just three months after the company laid off 18% of its workforce-about 21 employees from creative, sales, marketing, growth, and product teams-due to high cash burn and challenges in securing new capital.

The latest investment was made through the allotment of 16,076 compulsory convertible preference shares (CCPS) at a premium of INR 20,428 each. Elevation Capital invested INR 19 crore, securing a 24.5% stake, while Eight Roads Ventures contributed INR 14 crore, raising its stake to 15.79%. The capital will be used for working capital, capital expenditure, and general corporate purposes.

Founded in 2020 by Minu Margeret, Blissclub started as an online activewear brand for women and has since diversified its product range and established offline stores. Despite recent restructuring, the company’s revenue grew 27% to INR 86.9 crore in FY24 from INR 68.3 crore in FY23, though net losses also increased to INR 43.9 crore.

Blissclub’s successful fundraising, despite recent layoffs, underscores both the ongoing challenges and the resilience of India’s D2C startup sector in a difficult funding environment.

 

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Apple to Shift Entire US iPhone Assembly to India by 2026

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Apple is set to relocate all assembly of iPhones destined for the US market from China to India by the end of 2026, marking its biggest manufacturing shift in decades. The move is driven by escalating US-China trade tensions and steep tariffs—up to 145% on Chinese imports—making Chinese assembly increasingly costly for Apple. Although some smartphone imports are temporarily exempt, a 20% duty still applies to Chinese-made iPhones entering the US.

 

India, in contrast, offers a more favorable trade environment, with a paused 26% reciprocal tariff and ongoing negotiations for a bilateral trade deal with the US that could shield Indian exports from future levies. Apple plans to more than double its current iPhone output in India, aiming to assemble over 60 million units annually for the US market. The company already produces about 25% of its global iPhones in India, working with partners like Foxconn, Tata Electronics, and Pegatron.

 

This shift is part of Apple’s broader strategy to diversify its supply chain and reduce reliance on China amid geopolitical risks. However, the transition’s success will depend on how quickly India can scale up its manufacturing capabilities and the outcome of ongoing trade negotiations.


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PhonePe’s PINCODE Launches 10-Minute Medicine Delivery in Cities

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PhonePe’s PINCODE app has launched a 24×7 online medicine delivery service in Bangalore, Mumbai, and Pune, promising delivery of both prescription and over-the-counter medicines within 10 minutes from nearby local medical shops. Unlike conventional e-pharmacies that use dark stores, PINCODE partners exclusively with neighborhood pharmacies, enabling faster deliveries and supporting local businesses in the digital economy.

Customers without prescriptions can select a “no prescription” option when ordering; a qualified doctor then provides a free teleconsultation and issues a digital prescription compliant with telemedicine guidelines, ensuring seamless access to medicines. The app offers competitive pricing by passing discounts from local pharmacies directly to customers and charges no delivery fees.

PINCODE’s hyperlocal model enhances healthcare accessibility and convenience while empowering local pharmacies, helping them remain integral to their communities and stimulating local economic growth. Launched in 2023, the app focuses on quick commerce with an emphasis on speed, reliability, and supporting local sellers.

In summary, PhonePe’s PINCODE app is transforming medicine delivery in major Indian cities by combining ultra-fast 10-minute delivery, free doctor consultations, and a hyperlocal sourcing model that benefits both consumers and neighborhood pharmacies.

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