Meta’s New Social Network: The parent company of Facebook, is reportedly planning to launch a new social media platform that will rival Twitter. According to a spokesperson for Meta, the company is exploring the creation of a decentralized social network that would enable public figures and creators to share timely updates about their interests. The potential new service, which is code-named “P92,” is based on the same framework that powers Mastodon, a Twitter-like service that has gained popularity since Elon Musk’s takeover of Twitter last year.

While Meta has not yet shared any additional information about the new social network, it is expected to be interoperable with the Mastodon framework. This would enable users to seamlessly switch between the two platforms without any compatibility issues.

Also Read, India is the second most targeted country by ransomware in the Asia-Pacific and Japan region in 2022

The new platform would offer users the opportunity to create a separate space where they can share their interests and connect with other like-minded individuals. Meta believes that there is a significant opportunity for a decentralized social network that focuses on timely updates and encourages engagement.

In addition to the new social network, Meta has also launched a subscription service called Meta Verified. This service is available to Facebook and Instagram users and includes a verified blue check-mark badge, similar to Twitter Blue. The service is priced at USD 11.99/month on the web and USD 14.99/month on Apple’s iOS. Meta has launched the service in Australia and New Zealand, with plans to expand to more countries in the near future.

Meta is known for taking inspiration from Elon Musk’s Twitter playbook, and the company’s recent initiatives reflect this trend. As competition in the social media space heats up, it will be interesting to see how Meta’s new platform and subscription service fare against Twitter and other social media giants.

India has become a hot target for ransomware in the Asia-Pacific and Japan region in 2022, according to a new report released by Palo Alto Networks. The report reveals that India has moved up from spot 3 in 2021 to become the second most targeted country in the region. This is a cause for concern, as ransomware attacks can have severe consequences, including financial losses and damage to a company’s reputation.

The Palo Alto Networks 2023 Unit 42 Ransomware and Extortion report states that Maharashtra was the most-targeted state with 36 per cent of ransomware attacks, while New Delhi was at second. This means that companies in these areas should take extra care to protect themselves against ransomware attacks.

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The report also highlights the industries that are most at risk of ransomware attacks. Manufacturing, construction, and professional & legal services are the most targeted industries. Companies in these industries should be particularly vigilant in their cybersecurity measures.

The most active ransomware groups identified in the report are Lockbit 2.0, BianLian, and Stormous. These groups have been responsible for a large number of ransomware attacks in the region.

Data theft is the most common tactic used by ransomware and extortion groups, according to the report. It mentions that 70 per cent of these groups used data theft as a tactic by late 2022, which is a 30 per cent increase from the previous year. This means that companies should be aware of the risks associated with data theft and take steps to protect themselves.

The report also reveals that organisations based in the US were most severely publicly affected by ransomware attacks, with 42 per cent of the observed leaks in 2022. Germany and the UK followed, accounting for nearly 5 per cent each. It is clear that ransomware attacks are a global problem, and companies around the world must take steps to protect themselves.

The report also mentions that 30 organisations on the Forbes Global 2000 list were publicly impacted by extortion attempts in 2022. Since 2019, at least 96 of these organisations have had confidential files publicly exposed to some degree as part of attempted extortion. This highlights the importance of implementing strong cybersecurity measures to protect sensitive data.

PhonePe Raises $200 Million: Digital payments have become an integral part of our lives, especially during the pandemic, where online transactions have surged. PhonePe, India’s leading digital payments platform, has been at the forefront of this revolution. Recently, PhonePe has raised $200 million in investment from Walmart, as part of its ongoing fundraise. In this article, we delve into the details of the investment, its impact on PhonePe, and the Indian digital payments landscape.

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The Fundraise

PhonePe has been in talks with potential investors for a while now, and Walmart has been one of the primary suitors. With this investment, PhonePe’s valuation has increased to $5.5 billion. This investment is part of PhonePe’s ongoing fundraise, with plans to raise $1 billion in total. In December 2020, PhonePe raised $700 million from its parent company, Flipkart. The funds raised will be used to expand PhonePe’s operations and strengthen its position in the digital payments space.

The Impact

This investment by Walmart is significant for PhonePe and the Indian digital payments landscape. PhonePe has been expanding rapidly in recent years, and this investment will help it to continue this growth trajectory. With the pandemic accelerating the shift to digital payments, PhonePe’s services have become even more critical. This investment will help PhonePe to further develop its technology and offer innovative solutions to its users.

Walmart’s investment in PhonePe is also a testament to the potential of the Indian digital payments market. India’s digital payments market is projected to grow to $1 trillion by 2023, and companies like PhonePe are well-positioned to benefit from this growth. Walmart’s investment in PhonePe is an indication of its confidence in the Indian market and its commitment to expanding its operations in the country.

The Competition

PhonePe is one of the leading players in the Indian digital payments space, but it faces stiff competition from other players like Paytm, Google Pay, and Amazon Pay. These players have also been expanding their operations and investing in technology to offer innovative solutions to their users. With this investment, PhonePe will be better equipped to compete with these players and maintain its position as a leading player in the market.

The Future

The digital payments landscape in India is rapidly evolving, and PhonePe is at the forefront of this revolution. With this investment, PhonePe is well-positioned to continue its growth trajectory and offer innovative solutions to its users. The pandemic has accelerated the shift to digital payments, and this trend is expected to continue even after the pandemic ends. PhonePe’s services will become even more critical in the future, and this investment will help it to meet the growing demand for its services.

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