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Facebook: Zuckerberg Apologizes For The Data Leaks

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Facebook Data Leaks,Zuckerberg Apologizes For Data Leaks,Startup Stories,Startup News India,Facebook Data Breach Scandal,Massive Facebook Breach,Facebook Founder Mark Zuckerberg,Cambridge Analytica,Trump Presidential Campaign,Facebook Testimony,Zuckerberg Apology

Mark Zuckerberg, the founder of Facebook, said last week the company had made multiple mistakes. The most serious one being the leak of 87 million users to Cambridge Analytica, the firm which had provided demographical intelligence to the Trump Presidential Campaign. In a testimony clarifying the issue, Zuckerberg said he was looking into the full extent of the involvement by the Russian Government during the 2016 elections.

The release of his testimony came as Facebook was preparing to notify users whose data were harvested by Cambridge Analytica. Aleksandr Kogan, a Cambridge professor, created an app called This Is Your Digital Life, in order to identify the voters through research. The data downloaded by the Cambridge professor was in return sold to Cambridge Analytica. Since the last fourteen years since Facebook was founded, lawmakers and government officials have looked at one of the largest online social media platforms with favour. According to reports, Cambridge Analytica had acquired the data of around 2,70,000 people who allowed the app to access its data along with their friends on the platform.

“For the first decade, we really focused on all the good that connecting people brings. But it’s clear now that we didn’t do enough. We didn’t focus enough on preventing abuse and thinking through how people could use these tools to do harm as well. That goes for fake news, foreign interference in elections, hate speech. … We didn’t take a broad enough view of what our responsibility is, and that was a huge mistake. It was my mistake. But it’s clear now that we didn’t do enough,” Mark Zuckerberg said in a statement in relation to the Facebook Data Leaks.

Clearly, he isn’t the only one who thinks that way. On Tuesday evening, in a meeting with the Senate and the Cabinet members, an apologetic Zuckerberg said he was extremely sorry for the role the online social media platform played during the 2016 American elections. During the two day Senate session, Zuckerberg apologised by saying he was looking into all the details of the breach.

Furthermore, the Facebook team has said a bounty program with a reward of $ 40,000 has been announced for people who catch large data leaks. Payouts will start at $ 500 and will go up to as high as $ 40,000. Over the better part of the last month, the Cambridge Analytica issue has spiralled into one of the biggest scandals faced by the 33 year old Zuckerberg. The data abuse program is the first of its kind to come up in the industry, giving users an incentive to ensure their safety.

With Zuckerberg’s apology and attempt at making sure things are right, Facebook seems to be addressing the breach issue with renewed vigour and commitment.

 

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Funding

Agritech Startup Gramik Raises INR 17 Crore to Expand Rural Commerce in India

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StartupStories
  • Gramik, a Lucknow-based agritech startup, has secured INR 17 crore in a bridge funding round ahead of its upcoming INR 56 crore Series A raise.
  • The funding round included investments via Optionally Convertible Debentures (OCDs) and Compulsorily Convertible Debentures (CCDs).
  • Key investors include Sammaan Global Ventures, Money Creeper Investment, and prominent angels such as Balram Yadav (MD & CEO, Godrej Agrovet), Gev Aryaton, Irfan Alam, Nikhil Bhagat, and Salvia Siddiqui.

Gramik’s Unique Peer Commerce Model

  • Founded in 2021 by Raj Yadav, Gramik empowers over 120 million small and marginal farmers in India through a technology-driven rural commerce platform.
  • The startup operates a dual-channel distribution network using Village-Level Entrepreneurs (VLEs) and rural retailers to deliver high-quality agri-inputs to remote areas.
  • Gramik’s full-stack platform offers demand aggregation, logistics, embedded credit, and agronomy services, ensuring last-mile delivery and support for farmers.

Expansion Plans and Future Growth

  • Gramik currently operates in 12 districts, with 1,200+ active VLEs and 250+ rural retail partners, and plans to expand to 3,000 VLEs and reach 1 million+ farmers across Uttar Pradesh, Maharashtra, and Jammu.
  • The new funds will be used to expand Gramik’s private-label products, enhance agronomy-led farmer engagement, and scale operations in key states.
  • With a strong focus on supply chain efficiency, technology, and farmer advisory services, Gramik aims to become a leader in India’s $50 billion agri-input and rural commerce market.
  • Backed by previous seed funding of over INR 25 crore, Gramik is set to drive innovation and inclusive growth for rural communities.

 

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Reliance Jio Platforms Puts $100 Billion IPO on Hold to Focus on Growth

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Reliance Jio Platforms, the digital and telecom powerhouse led by Mukesh Ambani, has decided to postpone its highly anticipated initial public offering (IPO), shelving plans for a 2025 listing. The IPO, which analysts valued at over $100 billion and expected to be India’s largest-ever stock market debut, will not take place this year. The company has yet to appoint bankers for the process, signaling that preparations for the public offering have not started in earnest.

According to sources close to the matter, Jio Platforms wants to give its business more time to grow before going public. The company is focusing on boosting revenues, expanding its telecom subscriber base, and scaling up its digital services—including apps, connected devices, and AI solutions—so it can achieve a higher valuation when the IPO eventually happens. Nearly 80% of Jio Platforms’ $17.6 billion annual revenue currently comes from its telecom business, Reliance Jio Infocomm, but the company is investing heavily in new digital ventures and partnerships, such as its collaboration with Nvidia on AI infrastructure.

The news of the delay impacted the market, with shares of parent company Reliance Industries falling by up to 1.8% following the announcement. Despite a strong IPO environment in India, Jio’s move is seen as a strategic decision to ensure stronger business fundamentals and a higher valuation before entering the public markets. Major investors, including Google and Meta, are said to support the decision, viewing it as a step toward long-term value creation.

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Starlink Receives Final Regulatory Approval to Launch Satellite Internet in India

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Starlink - StartupStories

Elon Musk’s Starlink has received the final regulatory green light to launch its satellite internet services in India, marking a major milestone for the country’s digital connectivity. The Indian National Space Promotion and Authorisation Centre (IN-SPACe) granted Starlink the crucial approval, making it the third company after Eutelsat OneWeb and Reliance Jio to secure full regulatory clearance for satellite broadband in India.

What Does This Mean for India?

  • Starlink can now move forward with commercial satellite broadband operations, aiming to bring high-speed internet to both urban and remote regions where traditional connectivity is limited or unavailable.
  • The approval allows Starlink to operate its Gen1 satellite constellation over Indian territory, using a mix of Ka and Ku band frequencies for reliable internet access.
  • The license is valid until July 7, 2030, giving Starlink five years to establish and grow its presence in the Indian market.

What’s Next for Starlink?

Before launching services, Starlink must:

  • Acquire satellite spectrum from the Department of Telecommunications (DoT)
  • Set up ground infrastructure such as gateway stations across the country
  • Complete security and compliance trials as required by Indian authorities

If all goes according to plan, Starlink’s commercial rollout could begin by late 2025 or early 2026.

Pricing and Partnerships

  • Starlink kits are expected to cost around ₹33,000, with monthly subscription fees likely ranging from ₹3,000 to ₹4,200.
  • The hardware and services will be distributed through major telecom partners like Bharti Airtel and Reliance Jio, expanding Starlink’s reach across India36.
  • These rates are similar to those in neighboring countries where Starlink has already launched.

Why Is This Important?

  • Starlink’s entry is set to transform India’s internet landscape, especially for rural and underserved communities.
  • The move supports India’s broader goal of expanding digital access and bridging the connectivity gap across diverse regions.

In Summary

With this final approval, Starlink is poised to revolutionize satellite internet in India, offering new options for millions of users and supporting the country’s digital future. The next steps involve spectrum allocation, infrastructure setup, and regulatory compliance—after which Starlink aims to go live, potentially as soon as the end of 2025.

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