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Snabbit raises $56 million, company valued at $390 million

Bengaluru: Snabbit has raised $56 million as it looks to consolidate its position in India’s fast-growing on-demand home services market. The round was co-led by Susquehanna Venture Capital, Mirae Asset Venture Investments, and Bertelsmann India Investments. The funding values the startup at about $390 million, sources told TOI. Founder and CEO Aayush Agarwal declined to…

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AI bets pay off: Alibaba posts 5% revenue rise as AI app hits 10 million downloads; cloud business accelerates

Alibaba reported a stronger September quarter on Tuesday, buoyed by the blockbuster launch of its redesigned Qwen AI app and a sharp pickup in cloud-computing revenue, even as net profit fell sharply.The Chinese tech major said revenue for the three months ended September 30 rose 5% year-on-year to 247.8 billion yuan ($35 billion), ahead of…

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