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Swedish Website Sues Google For $2.4 Billion Over Alleged Breach Of Anti-Trust Laws



A logo is pictured at Google's European Engineering Center in Zurich

Following an alleged breach of antitrust laws, a Swedish price comparison website, PriceRunner is suing Google for 2.1 billion euros ($2.4 billion).

The company alleged that Google manipulated search results in favor of its own competing shopping service.

In a statement, the Chief Executive Officer of PriceRunner, Mikael Lindahl revealed that Google breached antitrust laws by giving preference to its own shopping comparison product, Google Shopping, through its popular search engine.

“We are of course seeking compensation for the damage Google has caused us during many years, but are also seeing this lawsuit as a fight for consumers who have suffered tremendously from Google’s infringement of the competition law for the past fourteen years and still today.

“This is also a matter of survival for many European entrepreneurial companies and job opportunities within tech”, he said in the statement.

CNBC reports that the company, which in November agreed to be taken over by Swedish fintech firm Klarna, wants Google to pay compensation for profits it lost in the U.K. since 2008, and in Sweden and Denmark from 2013 onward.

In recent times, Google, an American multinational technology company that specializes in Internet-related services and products, have been under fire for allegedly breaching its anti-trust laws.

Investors King gathered that Russia’s Federal Antimonopoly Service (FAS) had earlier accused Alphabet (NASDAQ: GOOGL)’s Google of breaching antitrust law related to suspending and blocking accounts on YouTube.

Also in 2021, about 36 US states and Washington DC filed a lawsuit against Google, alleging that the search engine giant’s control over its Android app store violates antitrust laws.

A report by Business Standard revealed that the lawsuit alleges that through a series of exclusionary contracts and other anticompetitive conduct in the Google Play Store, Google deprived Android device users of robust competition that could lead to greater choice and innovation, as well as significantly lower prices for mobile apps.

The report also revealed that New York’s Attorney General James and the coalition co-led by the attorneys general of Utah, North Carolina, and Tennessee also accused Google of requiring app developers selling in-app digital content through apps purchased via Google’s Play Store to use Google Billing as a middleman, forcing app consumers to pay Google’s commission up to 30 percent indefinitely.

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Social Media

Tesla CEO Elon Musk Given 22 Days Ultimatum by A U.S Court to Acquire Twitter

Following Elon Musk’s decision to opt-out of the $44 billion Twitter acquisition deal, a Delaware Court of Chancery in the United States has ordered the Tesla CEO to acquire the micro-blogging platform within 22 days.



Twitter - Investor sking

Following Elon Musk’s decision to opt-out of the $44 billion Twitter acquisition deal, a Delaware Court of Chancery in the United States has ordered the Tesla CEO to acquire the micro-blogging platform within 22 days.

The judge presiding over the case made the order following Musk’s decision to proceed with the acquisition of the social networking company 12 days before the court trial on the lawsuit Twitter filed against him. 

Musk had earlier opted out of the Twitter deal where he accused the platform of thwarting his information rights by not providing enough data on fake accounts on the platform.

Musk claimed in a tweet that Twitter is “20% fake/spam accounts” and suggested Twitter’s filings with the Securities and Exchange Commission were misleading.  The company had earlier disclosed that only less than 5% of its daily active users are spam accounts.

However, the Tesla CEO wasn’t convinced by the number of bots accounts twitter claimed were on the platform. He, therefore, insisted that his acquisition of the social media company cannot move forward until he sees more information about the prevalence of spam accounts.

It should be recalled that on May 27, 2022 Investors King reported that

Twitter also displeased by Musk’s action filed a lawsuit in the Delaware Court of Chancery, urging him to complete his $44 billion takeover of the social media company where it accused him of “outlandish” and “bad faith” actions that have caused the platform irreparable harm and “wreaked havoc” on its stock price.

Recently, during a court hearing after the judge at the Delaware court had given Musk a 22 days ultimatum, he asked that Twitter drop the initial lawsuit scheduled for October 17, but the social media company insisted that it would keep the litigation alive until the deal was concluded.

Musk had made the request stating that the lawsuit should be stepped down to enable him to raise the needed capital for the acquisition ahead of the October 28 deadline.

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Fund Raising

Purple Elephant Ventures Has Raised $1 Million Seed Fund to Modernize Africa’s Travel Sector

Purple Elephant Ventures (PEV) has raised $1 million in pre-seed funding to boost innovation in Africa’s tourism.



Purple Elephant Ventures

Kenyan-based venture studio with a focus on Tourism, Purple Elephant Ventures (PEV) has raised $1 million in pre-seed funding to boost innovation in Africa’s tourism.

The venture studio seeks to achieve this goal by building creative startups from scratch focused on leveraging technology to scale tourism, as it plans to build about four startups at the intersection of travel, climate, and technology, every year.

Investors who took part in this recent $1 million pre-seed funding round include Klister Credit Corporation, a Canadian investment firm, and The Untours Foundation.

Also Angel investors such as Fede Pirzio-Biroli, founder of Playfair Capital; Ian McCaig, former CEO of and M-Kopa board member, Anthony Rock, president of Rock Impact Capital; Rich Hoops, executive director at Impact Capital; Jim Villanueva, managing director of Global Partnerships Social Venture Fund, and Helena Riese Harstad, co-founder and chair of the Optimizer Foundation.

Speaking on the recent seed raised and the startup mission, Purple Elephant Ventures CEO Ben Peterson said, “I think what’s exciting for the team is all of the possibilities to digitize tourism for a greener future. And one of the great advantages of working in a studio is that we get to play around with new innovative ideas all the time.

“We have what we call ideation sessions, where we have very structured conversations around examining the tourism industry from the perspective of building businesses that will help reduce the carbon footprint of Africa’s tourism industry.”

He further disclosed that despite the uncertainty in the tourism sector during the Covid pandemic period, the Purple Elephant Ventures team did not slow down on its efforts, rather they went on to launch two startups during that period, which are Elephant Bookings, a software service (SaaS) product, and Nomad.Africa, a content-to-commerce magazine.

Purple Elephant Ventures seeks to enable startups in the tourism sector raise enough capital to facilitate sustainability, as well as have an online presence to aid global scale.

Founded in 2020, the company’s mission is To build a portfolio of innovative companies that unlock the unrivaled economic power of tourism to protect and grow Africa’s natural capital.

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MTN Celebrates Customer Service Week by Gifting Subscribers Airtime Top-up

MTN is celebrating its customer service week by gifting Airtime top-ups to its loyal customers through engaging activities on all its social media platforms.




Mobile telecommunications giant MTN is celebrating its customer service week by gifting Airtime top-ups to its loyal customers through engaging activities on all its social media platforms.

The telecommunications giant is celebrating this year’s edition with exciting activities which include online competitions, trivia quizzes, giveaways, and lots more.

To participate in the Customer Service Week activities, subscribers are required to follow all the company’s social media accounts where all activities and information for the week will be communicated, Investors King understands.

MTN’s theme for this year 2022 Customer Service Week is “No US without U” where it is appreciating the loyalty of its customers and partners of the brand for over 20 years of partnership and loyalty.

Customer Service Week is an international celebration of the importance of customer service and of the people who serve and support customers on a daily basis.

The goal of the event is to emphasize the importance of customer satisfaction and also listen to customers as critical components of building a business. During this week customers are given different types of packages, such as gifts, rewards, and other exciting offers.

Speaking on MTN’s “Customers Service Week” and its commitment to customers, the Chief Customer Service Officer Ugonwa Nwoye said “Our customers mean so much to us, they are the reason we are thriving for more than two decades. This is why we will continue to work tirelessly to ensure our customers stay happy and satisfied.”

Customer service has been described as a core means of building brand loyalty and encouraging customer satisfaction. According to Forbes, It is reported that around 70% of American customers report they’re willing to spend more money with companies that provide excellent service.

In other words, a company’s excellent customer service can be one of the most powerful customer retention tools they will have.

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