Breaking news from your editors at Fast Company, with updates all day.
Flipkart Acquires LetsBuy. Two of India's biggest web retailers have joined forces. Flipkart, India's biggest ecommerce brand, has acquired LetsBuy.com, a company that's taken the lead in sales of electronics. The deal comes just a week after Amazon.com launched their aggregator site Junglee.com in the subcontinent. --NS
--Updated 7:30 a.m. EST
Groupon Reports Surprise Q4 Loss. Groupon reported a net loss for its first Q4 earnings report, blaming it largely on high starter international taxes ($34 million) on the new operations it set up outside the U.S. Groupon's CFO said that those costs that would go down in time, but it was a factor that analysts had missed, Bloomberg reports. The company dipped 16% in late trading yesterday. --NS
--Updated 6:45 a.m. EST
Google Launching Cloud Drive Soon? Google's Drive, a cloud storage service powered by the search giant, may be close to launch, the Wall Street Journal has heard. Such a cloud storage service (if free) could directly challenge reigning Web store bin, Dropbox. However, it would have the advantage of possibly integrating with the slew of other Web products Google has up, like Documents, Calendars and more. --NS
Foxconn Servers Hacked. A hacker ground called SwaggSec infiltrated servers at Foxconn and seized sensitive information including the logins and passwords of workers who worked there. The hack gave access to order information, allowing the infiltrators to potentially place fake orders as Apple or any of its other partners. According to 9to5Mac, Foxconn seemed to be shutting down outside access to the servers. --NS
Google Wallet Hack Demoed. Google's NFC payment system Google Wallet has a security snag that allows its secure PIN storing file to be potentially accessed by anyone who gets their hands on the phone. However, the flaw only applies to devices that are "rooted," a process that's somewhat similar to jail-breaking an iPhone. Google responded to TheNextWeb about the issue, saying that rooting disabled builtin Android security features, and that they discourage users from installing Google Wallet on a rooted device in the first place. --NS
--Updated 6:15 a.m. EST
[Image: Flickr user dannysullivan]
Yesterday's Fast Feed: Amazon Inks Deal With Viacom, Sprint Announces iPhone-led Q4 Highs And Lows, Japan Targets 30% Cut In Rare Earth Use, and more!
