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Chandra R Srikanth

Editor- Tech, Startups, And New Economy

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SoftBank-backed OfBusiness in talks for a secondary funding round at valuation of $8-9 billion ahead of IPO

BUSINESS

SoftBank-backed OfBusiness in talks for a secondary funding round at valuation of $8-9 billion ahead of IPO

OfBusiness is raising $50-$100 million from a slew of family offices, who will buy shares from some of the business-to-business (B2B) commerce and lending platform's investors

Rohan Murty’s venture Soroco wants to make white collar work more effective

BUSINESS

Rohan Murty’s venture Soroco wants to make white collar work more effective

Founded in 2014 by Infosys founder NR Narayana Murthy’s son Rohan Murty, Arjun Narayan and George Nychis, Soroco has built a product called Scout that generates a work graph, which maps how teams experience digital work

Dailyhunt and Josh parent VerSe lays off 150 staff, announces company-wide pay cuts

BUSINESS

Dailyhunt and Josh parent VerSe lays off 150 staff, announces company-wide pay cuts

These measures were unveiled In a town hall meeting, addressed by the company’s co-founders Virendra Gupta and Umang Bedi.

Tiger Global’s Scott Shleifer 'very bullish' on India amid global tech rout

BUSINESS

Tiger Global’s Scott Shleifer 'very bullish' on India amid global tech rout

Tiger Global, though bullish, is not comfortable writing late-stage cheques just yet. It will continue to play in the early stage phase and India is expected to be among the biggest beneficiaries of Tiger Global’s new fund

Zomato begins layoffs across functions; plans to shrink workforce by 4%

BUSINESS

Zomato begins layoffs across functions; plans to shrink workforce by 4%

At least 100 employees have been already impacted across functions such as product, tech, catalogue and marketing. The company plans to layoff atleast 4 percent of its total workforce.

White Venture Capital to back executives, former founders to build startups

BUSINESS

White Venture Capital to back executives, former founders to build startups

White Venture’s ‘Call to Adventure’ programme will fund executives to build startups and pay salaries to entrepreneurs while they are at it

Infosys may race past Cognizant again as revenue gap narrows between IT majors

BUSINESS

Infosys may race past Cognizant again as revenue gap narrows between IT majors

Infosys coming close to Cognizant’s level of growth reflects the latter’s troubles as it faced execution challenges and underperformed as compared to its peers, despite the pandemic leading to significantly increased demand.

Corporate Crossings: Sequoia India hires Mohit Abraham as legal head from Travis Kalanick’s startup

BUSINESS

Corporate Crossings: Sequoia India hires Mohit Abraham as legal head from Travis Kalanick’s startup

Abraham's appointment as Sequoia Capital India's chief legal officer comes at a time when the company is embroiled in a legal tussle with its former general counsel, Sandeep Kapoor.

Byju’s gears up for $1-billion listing of subsidiary Aakash in India next fiscal

BUSINESS

Byju’s gears up for $1-billion listing of subsidiary Aakash in India next fiscal

The size of the IPO could be in the range of a billion dollars, valuing Aakash at $3.5-$4 Billion. While it expects to file papers with the market regulator in January next year, it plans to list by June 2024, or the first half of FY24.

Confident he will do his best for UK: Infosys founder Narayana Murthy reacts to son-in-law Rishi Sunak becoming UK PM

TRENDS

Confident he will do his best for UK: Infosys founder Narayana Murthy reacts to son-in-law Rishi Sunak becoming UK PM

“Congratulations to Rishi. We are proud of him and we wish him success. We are confident he will do his best for the people of the United Kingdom," Murthy said in an email statement to Moneycontrol.

Unacademy’s losses nearly double to Rs 2,848 crore in FY22 on higher ESOP costs

BUSINESS

Unacademy’s losses nearly double to Rs 2,848 crore in FY22 on higher ESOP costs

Unacademy, however, reported an over 80 percent rise in operating revenue to Rs 719 crore from Rs 398 crore a year earlier. Its total income surged to Rs 845 crore in FY22 from Rs 464 crore a year earlier, thanks to a 2X rise in its other income to Rs 125 crore

CCI order against Google a win for Indian app developers, battle still goes on: Indus OS' Rakesh Deshmukh

BUSINESS

CCI order against Google a win for Indian app developers, battle still goes on: Indus OS' Rakesh Deshmukh

"The CCI order gives a window of opportunity for Indian app developers. But Google has still not provided a level playing field to players like us. We will continue fighting this battle," says Deshmukh.

Walmart-backed PhonePe taps General Atlantic for funding at a valuation of $12 billion

BUSINESS

Walmart-backed PhonePe taps General Atlantic for funding at a valuation of $12 billion

If PhonePe’s massive round goes through, it will make the startup India’s most valued fintech, amid a rout in startup funding

Infosys allows employees to take up external gigs with prior consent of manager

BUSINESS

Infosys allows employees to take up external gigs with prior consent of manager

The email nowhere mentions the term 'moonlighting', as the term technically implies dual employment, which continues to be prohibited

LTI-Mindtree merger plan ready, hope to complete integration in one or two quarters: Mindtree CEO Debashis Chatterjee

BUSINESS

LTI-Mindtree merger plan ready, hope to complete integration in one or two quarters: Mindtree CEO Debashis Chatterjee

Mindtree’s results for the second quarter may be the last time the company reports earnings as a standalone entity.

Bitter battle ahead? BillDesk shareholders prepare to sue Prosus for walking away from $4.7 billion deal

BUSINESS

Bitter battle ahead? BillDesk shareholders prepare to sue Prosus for walking away from $4.7 billion deal

Prosus announced the termination of the deal yesterday. The news came after the acquisition received a go-ahead from the Competition Commission of India on September 5.

CRED launches UPI scan and pay, move may help increase in-app transaction volumes

BUSINESS

CRED launches UPI scan and pay, move may help increase in-app transaction volumes

CRED said that users will be allowed to create an alias UPI ID, helping them mask personal details like mobile numbers, ensuring enhanced privacy during payments. It is also offering 2x rewards for payments made to partner merchants.

Indian startups stare at two years of funding winter even as investors sit on a $9 billion dry powder

BUSINESS

Indian startups stare at two years of funding winter even as investors sit on a $9 billion dry powder

Rising inflation, geopolitical situation and looming recession in the US and Europe deter investors. However, early-stage deals would rebound faster and niche and emerging sectors would gain prominence over the next 12-18 months.

SoftBank-backed Unacademy cuts monthly burn down to a fourth, eyes breakeven by January

BUSINESS

SoftBank-backed Unacademy cuts monthly burn down to a fourth, eyes breakeven by January

Unacademy has slashed its monthly burn to Rs 50-60 crore from more than Rs 200 crore previously, sources said requesting anonymity. This has come on the back of various measures that it undertook as funding slowed down and investors turned cautious.

‘If this didn’t break us, nothing will’: Byju Raveendran opens up about troubles of last six months

BUSINESS

‘If this didn’t break us, nothing will’: Byju Raveendran opens up about troubles of last six months

Byju’s has been embroiled in controversies regarding delays in filing financials, sales practices, layoffs and funding troubles. The founder and CEO of the edtech firm talks about it all in an interview with Moneycontrol

EXCLUSIVE | Ola Electric rejigs roles to unify operations across roles; YS Kim gets larger role

BUSINESS

EXCLUSIVE | Ola Electric rejigs roles to unify operations across roles; YS Kim gets larger role

Industry veteran YS Kim will now take on an expanded role of leading sales, D2C and charging network charter for Ola Electric; Vinay Bhopatkar moves on from the company

MC Exclusive | A new SaaS war: Accel-backed BrowserStack Vs Sequoia-backed LambdaTest face off

BUSINESS

MC Exclusive | A new SaaS war: Accel-backed BrowserStack Vs Sequoia-backed LambdaTest face off

In the heat and dust of competition, LambdaTest faces charges of trying to gain unethical access to BrowserStack’s IPR and sensitive client data

Inflated salaries, falling margins, slowing demand: Why Indian IT companies are cutting variable pay

BUSINESS

Inflated salaries, falling margins, slowing demand: Why Indian IT companies are cutting variable pay

High levels of attrition, increasing travel costs, and fears of a recession that’s affecting demand for IT services are putting pressure on margins of tech companies.

Financial services are a basic need like roti, kapda, makaan, says Groww founder Lalit Keshre

BUSINESS

Financial services are a basic need like roti, kapda, makaan, says Groww founder Lalit Keshre

In an episode of Bits to Billions, Keshre revealed that his beginnings were humble and that he hails from Lepa, a small village in Madhya Pradesh’s Khargone district.