Tag Archives: rocket

Rocket Internet-backed Namshi lands $13m to grow its online fashion store for the Middle East

120573532 520x245 Rocket Internet backed Namshi lands $13m to grow its online fashion store for the Middle East

Namshi, an popular online fashion store in the Middle East that was started by the Samwer brothers’ Rocket Internet accelerator, has raised $13 million in funding from growth equity firm Summit Partners.

The private investment firm regularly backs Rocket Internet ventures, particularly in emerging markets: see its investments in Linio, Lazada and Dafiti for just a few examples.

This round also marks Summit Partners’ second investment in Namshi, an online store for fashion and lifestyle accessories that operates out of Dubai but services Qatar, Saudi Arabia, Bahrain, Kuwait and Oman alongside the United Arab Emirates.

Prior to this financing round, Namshi received backing from Kinnevik, JP Morgan Chase, Blakeney Management, Holtzbrink Ventures and others.

Online Fashion Shopping Shoes Clothing Dresses Namshi UAE Rocket Internet backed Namshi lands $13m to grow its online fashion store for the Middle East

The $13 million infusion is meant to support the fledgling company’s efforts to scale up operations and gain a stronger foothold in the Middle East.

The fresh capital will also be used to make a warehouse move to a centralised distribution center fully owned by the company.

Namshi, which was founded in 2012, currently offers items from over 550 footwear and fashion brands, including Nike, Lacoste and Puma.

Online Fashion Shopping Shoes Clothing Dresses Namshi UAE 1 Rocket Internet backed Namshi lands $13m to grow its online fashion store for the Middle East

Top image credit: Thinkstock

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Rocket Internet-backed Namshi lands $13m to grow its online fashion store for the Middle East

iZettle introduces support for Star Micronics printers and improved merchant analytics

 iZettle introduces support for Star Micronics printers and improved merchant analytics

Sweden-based mobile payments startup iZettle has boosted its offering for merchants after the Mastercard-backed company announced support for Star Micronics wireless printers and added a range of new analytics to its app for merchants.

Star Micronics has been working with Apple — to supply printers to its stores worldwide — and now it is linking up with iZettle to allow merchants to connect to its desktop and mobile printers. That will help manage cash drawers or allow merchants to provide customers with printed receipts, in addition to the digital versions that iZettle sends with each transaction.

“The new receipt printer and cash drawer functionality, and sales overview tools, address many frequent requests from our users,” said Jacob de Geer, co-founder and CEO of iZettle.

The company has also introduced new graphs which are easier to read, thanks to new boxes to sort data by metrics and a setting that lets data be arranged by year, month or week. By widening the options for diving into and assessing customer data, iZettle will hope retailers opt for its solution over competing mobile payment systems.

The startup is one of a number in Europe that is aiming to establish itself in the continent’s growing mobile payment space. Other rivals include Rocket Internet-backed Payleven, SumUp (both of which are from Germany) and industry giant PayPal, which will launch its PayPal Here service in the UK this summer.

For now, US startup Square is an interested observer that has plans to go international, but no specific launch for Europe, as yet.

There is plenty of innovation among these startups. Payleven was first to launch a fully-certified Chip & PIN solution, while SumUp is working on exciting new features that could let users order coffee simply by saying their name.

iZettle has apps for Android and iOS and is available in seven European markets: the UK, Germany, Sweden, Norway, Denmark, Finland and Spain. The company has raised more than $46 million to date, including a $31.4 million Series B round from October 2012.

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iZettle introduces support for Star Micronics printers and improved merchant analytics

Hostilities flare along Israeli-Gaza border

JERUSALEM (Reuters) – Israel pressed Hamas on Wednesday to rein in rocket-firing militants in the Gaza Strip after the most serious outbreak of cross-border hostilities since a ceasefire ended an eight-day war in November.

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Hostilities flare along Israeli-Gaza border

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WordPress releases version 3.3.2 as a security update, fixes 11 vulnerabilities

wordpress2 520x245 WordPress releases version 3.3.2 as a security update, fixes 11 vulnerabilities

WordPress has just released version 3.3.2, which is a security update that resolves a number of vulnerabilities found in previous releases. According to the announcement, three external libraries included in WordPress received security updates: Plupload, SWFUpload and SWFObject.

The above vulnerabilities were disclosed by Neal PooleNathan Partlan and Szymon Gruszecki. WordPress 3.3.2 also addresses other issues that were fixed by the organization’s core security team:

  • Limited privilege escalation where a site administrator could deactivate network-wide plugins when running a WordPress network under particular circumstances, disclosed by Jon Cave of our WordPress core security team, and Adam Backstrom.
  • Cross-site scripting vulnerability when making URLs clickable, by Jon Cave.
  • Cross-site scripting vulnerabilities in redirects after posting comments in older browsers, and when filtering URLs. Thanks to Mauro Gentile for responsibly disclosing these issues to the security team.

Five more bugs were also fixed, and more information on which can be found in the change log.

In addition to this release, WordPress 3.4 Beta 3 is also available for download. And while the build isn’t ready for the prime time, plugin and theme developers should already be working with it for testing.

➤ Download WordPress 3.3.2, or update now from the Dashboard → Updates menu in your site’s admin area.

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WordPress releases version 3.3.2 as a security update, fixes 11 vulnerabilities

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Developer conference Bacon provides food for the brain

I’m at the Bacon conference in Blackfriars, London today and tomorrow, and it’s not the usual sort of weekend conference you might expect.

It’s being held at The Mermaid Conference and Events Centre which was formerly a theater and has been really nicely refurbished. So things are fancy.

Bacon is about things that developers love. So far this morning that appears to be Rails trolling, chiptunes, butler robots, design/developer pairing and meditation on why folk code.

pixelh8 Developer conference Bacon provides food for the brain

Mind Candy is here and they seem set for expansion as they are looking to hire around 50 tech people very soon. SoundCloud is also here and letting it be known that it is hiring for its engineering team. To see cool companies like this hiring at an event lends a certain optimism that working in this field is a good thing and that there is likely to be work.

This event is less about pitches than it is about entertaining talks and pitches. Aside from one small area for sponsors, the main idea is to have a think around what it is to be a developer.

audience Developer conference Bacon provides food for the brain

It’s safe to say that ‘developer’ as a blanket term is really too broad these days, but there are certainly themes that can be explored and are pertinent to everyone in the room.

keynotecheeze Developer conference Bacon provides food for the brain

The opening keynote with Scott Porad, CTO of the Cheezburger Network  was surprisingly less about laughing at feline photos and more of an encouragement for everyone to have a think about why they do what they do. Porad says that “software is a figment of our imagination” and as a result, considering our values and identity will help developers and coders come to a better realization about what it is they want to make.

It’s an interesting thought for those laying down code to look at the wider picture and not just the current line they are about to compile.

It’s fairly certain that more ideas will be sparked in talks about LEGO Punks, CSS in the 4th Dimension, Neural Networks, Beer, Coffee and time management to come that somewhere in there, is something akin to bacon that all developers will indeed love.

history talk Developer conference Bacon provides food for the brain

I’ll have more from this event soon so look out for updates.

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Developer conference Bacon provides food for the brain

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3D tech firm RealD is set to buy back $50m of its common stock

reald 520x245 3D tech firm RealD is set to buy back $50m of its common stock

3D technology company RealD has announced that it plans to buy back $50 million worth of common stock, currently traded on the New York Stock Exchange.

RealD licenses its stereoscopic 3D technology to cinema chains. Its offering includes everything from the RealD Format used by content producers to create 3D content, to the eyewear we watch 3D films with in theaters. The company has also provided 3D technologies for the piloting of the Mars Rover and heads-up displays in military jets.

“The repurchase authorization demonstrates our confidence in RealD’s future and our commitment to maximizing shareholder value,” says ReadD Chairman and CEO, Michael V. Lewis, in today’s announcement.

Trading at 11.63 on the NYSE under the RLD ticker symbol at the time of writing, RealD says that as of yesterday, it had approximately $30 million in cash and cash equivalents and unused borrowing capacity was approximately $100 million. The Company has approximately 54.6 million shares of common stock outstanding. Its share buyback will be fuelled by a new $125 million credit facility, also announced today.

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3D tech firm RealD is set to buy back $50m of its common stock

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Nokia’s 808 PureView promo quite literally speaks for itself [Video]

IMG 1761wtmk 520x245 Nokias 808 PureView promo quite literally speaks for itself [Video]

I often believe that one of the best adverts for a device is when its maker is able to showcase its features using images or footage produced directly by it.

This is especially true of the Nokia’s latest promotional video for its new 808 PureView smartphone, which was created using video and image stills taken using the smartphone itself.

With its 41MP image quality, Carl Zeiss lens, and PureView imaging technology, Nokia demonstrates the imaging capabilities of the device front and center, but also shows off its social capabilities, really appealing to those who want the very best optics in their smartphone device.


The 808 PureView may have its detractors, but it’s hard to deny that the video isn’t impressive.

The Nokia 808 PureView is a Symbian device, not a Windows Phone smartphone. That said, it still sports a 4-inch 16:9 nHD (640 x 360 pixels) AMOLED screen, 1.3GHz single-core SoC, 512MB of RAM and 16GB of internal memory.

We can expect the Nokia 808 PureView to start shipping in May, with Nokia not yet releasing its suggested pricing.

Interested in a more in-depth look? Check out our hands-on here.

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Nokia’s 808 PureView promo quite literally speaks for itself [Video]

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Why Rocket Internet and its clones are actually doing Southeast Asia a favor

rocket blast off 520x245 Why Rocket Internet and its clones are actually doing Southeast Asia a favor

They come, they execute, they sell. The Samwer Brothers might not be idols for most entrepreneurs, but their company could be set to make a sigificant impact on the startup market in Indonesia, and elsewhere in Southeast Asia.

Even before details of the company’s plans broke, Rocket Internet has been hiring people like crazy, it is bringing cloned companies to the market and aiming to make good money out of it. These people don’t talk much, in fact one of their strategies is to stay away from tech blogs. That might make us assume that the company has something to hide, but it also signifies a focus on what it does best and things that can add value for it.

Of course, there is the fact that Rocket Internet is not exactly popular amongst tech publications for its anti-innovation principles, which probably is probably the ultimate reason that the firm avoids tech journalists.

Screen Shot 2012 04 19 at 9.26.16 AM 220x200 Why Rocket Internet and its clones are actually doing Southeast Asia a favorBut one thing Rocket Internet has brought, is an attitude that stops asking questions and focuses on doing thing. No rockstar crap.

If you look at how they operate in a new market, your jaw will drop. They’ve been in Indonesia for 3 months and yet now they already have hundreds of employees, with more than 6 products in the market. It’s a similar story in Singapore, Thailand, Malaysia and other markets.

These people don’t complain about payment gateway issues for their e-commerce sites, they just find ways to make it work. They won’t wait, and that’s a winning attitude.

Startups in Indonesia, and across Southeast Asia, can definitely learn from this example, how the company is focused on building a profitable business and not just developing “something cool”. There are plenty of issues that vex entrepreneurs in Indonesia, but the Samwer Brothers are taking action, rather than waiting for things to fix themselves.

As much as we can trash Rocket Internet, it does know how to execute and scale. Its motives and agenda might not noble, but it  sure can teach us how to grow a real business and build a real ecosystem.

The real test will be how Rocket Internet’s services perform in Southeast Asia, but the direct approach could help inspire others in the region in the least.

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Why Rocket Internet and its clones are actually doing Southeast Asia a favor

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NKorea says satellite ‘failed to enter into orbit’

Cameramen stand by to cover the PAC-3 surface to air missile units at the Defense Ministry in Tokyo, Japan, Friday, April 13, 2012. North Korea fired a long-range rocket early Friday, South Korean defense officials said, defying international warnings against a launch widely seen as a provocation. (AP Photo/Itsuo Inouye)

Cameramen stand by to cover the PAC-3 surface to air missile units at the Defense Ministry in Tokyo, Japan, Friday, April 13, 2012. North Korea fired a long-range rocket early Friday, South Korean defense officials said, defying international warnings against a launch widely seen as a provocation. (AP Photo/Itsuo Inouye)

A North Korean press center worker, second right, tries to appease foreign journalists desperate for news on the launch at the press center in Pyongyang, North Korea, Friday, April 13, 2012. North Korea fired a long-range rocket early Friday, South Korean defense officials said, defying international warnings against a launch widely seen as a provocation. (AP Photo/Ng Han Guan)

Foreign journalists desperate for news try to get comments from North Korean press center workers, right, in Pyongyang, North Korea, Friday, April 13, 2012. North Korea fired a long-range rocket early Friday, South Korean defense officials said, defying international warnings against a launch widely seen as a provocation (AP Photo/Ng Han Guan)

North Korean men wait at the press center in Pyongyang, North Korea, Friday, April 13, 2012. North Korea fired a long-range rocket early Friday, South Korean defense officials said, defying international warnings against a launch widely seen as a provocation. (AP Photo/Ng Han Guan)

North Korean technicians work at the press center in Pyongyang, North Korea, Friday, April 13, 2012. North Korea fired a long-range rocket early Friday, South Korean defense officials said, defying international warnings against a launch widely seen as a provocation. (AP Photo/Ng Han Guan)

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(AP) — North Korea’s much-anticipated rocket launch ended quickly in failure early Friday, splintering into pieces over the Yellow Sea soon after takeoff.

North Korea acknowledged in an announcement broadcast on state TV that a satellite launched hours earlier from the west coast failed to enter into orbit. The U.S. and South Korea also declared the launch a failure.

The Kwangmyongsong-3 satellite was fired from the Sohae Satellite Launching Station in Tongchang-ri along the west coast at 7:38 a.m., but failed to reach orbit, the state-run Korean Central News Agency said.

“Scientists, technicians and experts are now looking into the cause of the failure,” KCNA said.

U.S. and South Korean officials said hours earlier that the rocket splintered into pieces about a minute after liftoff over the Yellow Sea, calling it a provocative failed test of missile technology.

In response to the launch, Washington announced it was suspending plans to contribute food aid to the North in exchange for a rollback of its nuclear programs.

The U.S., Japan, Britain and other nations had been urging North Korea to cancel a launch seen as a covert test of the rocket technology also used to send a long-range missile to strike the U.S.

North Korea refused to back down, saying the rocket would only carry a civilian satellite, touting it as a major technological achievement to mark the 100th anniversary of the birth of the country’s founder, Kim Il Sung, on Sunday.

Still, the rocket failure is a major embarrassment for Pyongyang, which has invited dozens of international journalists to observe the rocket launch and other celebrations.

It has staked its pride on the satellite, seeing it as a show of strength amid persistent economic hardship while Kim Il Sung’s young grandson, Kim Jong Un, solidifies power following the death of his father, longtime leader Kim Jong Il, four months ago.

Associated Press

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NKorea says satellite ‘failed to enter into orbit’

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North Korea: Fueling of rocket under way

North Korea rocket launch controversy

Pyongyang, North Korea (CNN) — North Korea has started fueling a long-range rocket it plans to launch in the coming days, a senior national space official said Wednesday.

Fueling of the rocket, which North Korea says will put a satellite in orbit, is under way and will be completed at the “appropriate time,” said Paek Chang Ho, head of the North Korean General Satellite Control and Command Center.

He declined to be more specific.

The announcement last month of the satellite launch — which countries like the United States and South Korea see as a cover for a ballistic missile test — ratcheted up tensions in the region and prompted Washington to suspend a recent deal to supply food aid to the North.

The launch of the rocket is scheduled to take place between Thursday and Monday, and countries in the region are on edge.

Japan has deployed missile defenses and says it will shoot down any part of the rocket that comes near its territory. South Korea has described the move as a “grave provocation” and says it will respond with “appropriate countermeasures.”

“This launch will give credence to the view that North Korean leaders see improved relations with the outside world as a threat to the existence of their system,” U.S. Secretary of State Hillary Clinton said in a speech Tuesday. “And recent history strongly suggests that additional provocations may follow.”

A recent report from South Korean intelligence officials claimed that North Korea is planning a new nuclear test in the area where it staged previous atomic blasts.

The South Korean intelligence report noted that the two previous rocket launches that Pyongyang said were intended to put satellites into orbit were followed a few weeks or months later by nuclear tests.

International leaders have urged North Korea to cancel the imminent rocket launch, but Pyongyang has refused to back down, insisting that the operation is for peaceful purposes.

The last time Pyongyang carried out what it described as a satellite launch, in April 2009, the U.N. Security Council condemned the action and demanded that it not be repeated.

The announcement of the fueling of the rocket comes on the same day as a conference of the North Korean ruling Workers’ Party that is expected to cement the position of the secretive state’s new leader.

The meeting of party delegates and the controversial launch come as the nation prepares to mark the 100th anniversary of the birth of Kim Il Sung, the founder of North Korea who ruled the Communist state for more than four decades. His birthday on April 15, known as the “Day of the Sun,” is a key public holiday in the North Korean calendar.

At the conference, Kim Il Sung’s grandson, Kim Jong Un, is likely to be named secretary-general of the Workers’ Party, a key post that would underline his status as “supreme leader” of the insular regime, according to Chung-In Moon, professor of political science at Yonsei University in Seoul.

That appointment would be “a very important signal that he’s consolidating power and positions from an institutional point of view,” Moon said last week.

It would also mean that Kim Jong Un would become chairman of the party’s central military committee, following in the footsteps of his father, Kim Jong Il, who died in December.

Kim Jong Un is already described as the “supreme leader” of the party, state and army.

Moon noted that it is still unclear how directly the young Kim, thought to be in his late 20s, is involved in policy decisions.

So far, Kim Jong Un, as the direct descendant of the country’s founder, appears to be “reigning,” while powerful senior officials in the regime like his uncle, Jang Song Taek, seem to be doing the “ruling,” Moon said.

CNN’s Jethro Mullen contributed to this report.

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North Korea: Fueling of rocket under way