Social capital is a means of bridging the gulf between people,places and events. Social media is a means of building social capital by providing a platform for effective networking, learning,e-commerce and partnerships. This platform can achieve much more by creation of community hubs,which will be micro environment influencing a set,then subset of a population thus creating a ripple effect of change in the communities,countries and world as a whole. Mark Zuckerberg says he wants Facebook users to start playing a similar role to pastors in churches, as he believes people can find a sense of purpose and support from Facebook.He recently announced a new mission for the social network, which is set to focus on growing groups and communities to "bring the world closer together". He believes the site can be used to unite what he sees as a "divided" society, and make users feel like they are "part of something bigger".
Artificial intelligence startup PROWLER.io has raised £10m in Series A funding from Cambridge Innovation Capital and Atlantic Bridge Capital. Its core technology is founded on a combination of probabilistic modeling, machine learning and game theory, which means its decisions are based on interpretable principles. This latest investment brings the total raised by the firm to £11.5m, according to Crunchbase. Earlier this summer, we spoke with Chatrath about the challenges and highlights of setting up a tech business in the UK, watch the video interview here.
Bengaluru-based early-stage venture capital firm Inventus Capital Partners has announced the final close of its third fund at INR 369 Cr ($51.98 Mn). Samir Kumar of Inventus Capital Partners told ET that the third fund will make about 15 investments in total. The investment has come in from a mix of institutional investors, such as Small Industries Development Bank of India, family offices and technology entrepreneurs, including founders from its portfolio companies such as Phanindra Sama of redBus and Ramesh Emani of Insta Health. Inventus Capital was set up in 2007 and has been actively involved with investing in startups both in Silicon Valley and in India. It has invested in 65 US-based companies and 26 Indian companies.
TAIWAN-BASED technology firm CyCraft, which provides artificial intelligence (AI) solutions to enhance cybersecurity of businesses, on Friday announced a US$5.65 million fundraise in a Series B round. In total, CyCraft's total funding now amounts to US$8.15 million. Backers of this investment include Singapore-based investment company Pavilion Capital, and CID Group, an investment company based in Taiwan. Funds raised will propel the startup's research efforts in enhancing its AI technology and support market expansion in Asia. The firm has also formally launched SecOps Platform, an AI-driven platform which offers three variations of automated cybersecurity solutions.
A person holds an iPhone displaying the Facebook app logo in front of a computer screen showing the Facebook login page on August 3, 2016 in London, England. With Snapchat's long-awaited IPO finally over, it's time to take a look at how the big social media companies stack up and what their prospects are going forward. While there will always be startups with big dreams and innovative ideas, the rate at which the marketplace has matured over the last few years makes it hard to envision any of them being anything other than transitory niche players in this space. On an entirely different level than any other social media company on the planet, Facebook's competitors are not Twitter and Snapchat. They are Google and Apple.