BUSINESS
Lenskart calls on bankers for $1 billion IPO pitch
While Lenskart was profitable in the past, it incurred a loss of Rs 10 crore on the back of Rs 5,427-crore revenue in FY24, filings showed
BUSINESS
Swiggy launches a new app SNACC to deliver food in 15 minutes as competition heats up
The company has so far housed all its offerings, food delivery, quick commerce, hyperlocal delivery, dining out, under one main app.
BUSINESS
New founders’ right to win has become difficult as every category is crowded: Accel on Indian startup ecosystem
In a freewheeling interview with Moneycontrol on their newest $650 million fund for India and SEA, Accel partners’ Anand Daniel and Shekhar Kirani also spoke about succession planning and how IPOs have allayed governance concerns around Indian startups.
BUSINESS
End of an era: Dunzo co-founder Kabeer Biswas to quit
Dunzo was in talks with BigBasket, Swiggy among others for a strategic investment earlier. While it pioneered the hyperlocal commerce space, excessive cash burn and a competitive market took a toll.
BUSINESS
India could be our biggest market in the next two years: Canva co-founder Cameron Adams
In an interview with Moneycontrol, Adams spoke about the future of design roles, their plans to build a team in India and the impact that AI will have on workflows going forward
BUSINESS
AI-driven applications, consumption pricing a threat for SaaS model, says Snowflake CEO
The usage-based approach will bring in value to customers which is in contrast with traditional software licensing, says Sridhar Ramaswamy
BUSINESS
Great product, quick to innovate: Snowflake CEO Sridhar Ramaswamy praises Aravind Srinivas for Perplexity's success
While both Perplexity and Neeva used AI to build advanced ad-free search engines, which was later acquired by Snowflake in 2023.
BUSINESS
Epigamia co-founder Rohan Mirchandani passes away at 41 due to heart attack
"Rohan’s vision and values will continue to guide us as we work together to honor the foundation he built and ensure that his dream continues to flourish," a company spokesperson said.
BUSINESS
GCCs in India driving decision-making for global firms, no longer just back offices: Snowflake CEO Sridhar Ramaswamy
Ramaswamy, who has worked at Google for over 15 years in various capacities, also added that Snowflake will staff a very large team that will work with GCCs.
BUSINESS
Snowflake and I faced a trial by fire but we're stronger now, says CEO Sridhar Ramaswamy
In an interview to Moneycontrol during his India visit, the CEO of NYSE-listed Snowflake talks about why he is operating with urgency, how AI will disrupt SaaS, why Perplexity worked, how GCCs in India are driving decision-making for global firms and his ties with IIT-Madras
BUSINESS
Citykart, a value retail chain company, discusses Rs 340-crore round with A91 partners, TPG NewQuest
Citykart was founded by Sudhanshu Agarwal, a former executive at Vishal Mega Mart which is now his company's primary competitor. Citykart is being valued at around Rs 1,350-Rs 1,500 crore during the ongoing round, sources told Moneycontrol.
TECHNOLOGY
Paytm board approves PayPay stake sale
'This transaction will increase the consolidated cash balance to the extent of sale consideration to be received by Paytm Singapore,' says Paytm
BUSINESS
Paytm to sell stake in Japan's PayPay to SoftBank for $250 million
The sale is in line with Paytm’s strategy to divest non-core assets and strengthen its capital base as it focuses on scaling its core payments business following a challenging year
BUSINESS
Difficult to comment on quick commerce market share when competitor’s information is picky: Swiggy chief Sriharsha Majety
Swiggy chief Sriharsha Majety's comments comes at a time when Zepto's Aadit Palicha said his company's gross order value (GOV) has grown to $2 billion, ahead of Swiggy Instamart's $1.6 billion.
BUSINESS
Swiggy aims to turn operationally profitable by December 2025
Quick-commerce is in the investment phase, amidst rapid expansion of its addressable market and substantial competitive intensity in the near term, the company said.
BUSINESS
SoftBank’s Masayoshi Son goes all in on AI during lunch meeting with founders in India
The meeting was all about AI, more AI and most AI. Masa also indicated that he will invest more in India in the coming years than all previous years combined, a founder who had lunch with him told Moneycontrol.
BUSINESS
Zepto founder Aadit Palicha denies killing kiranas, says quick commerce will create more jobs than Indian Railways
In a wide-ranging interview with Moneycontrol, Palicha asserted Zepto is an Indian company that is not controlled by Americans, unlike Amazon and Flipkart parent Walmart.
BUSINESS
Ola Electric undertakes restructuring exercise, 500 employees to be impacted
According to sources within the organization, the company is undertaking the layoffs to improve its margins in its efforts to attain profitability.
BUSINESS
Zepto’s cash burn zooms to Rs 250 crore a month on rising capex, closes Rs 2,500 crore funding round
Zepto founder and CEO Aadit Palicha confirmed the developments and said investors are confident with the mature store profitability which is why the company has successfully raised the largest ever 100% domestic financing for a private startup in Indian history.
BUSINESS
Which area has India invented? Infosys co-founder Narayana Murthy defends IT services, says it should be saluted
India’s culture of oral rather than written knowledge has limited the development of large data repositories, which are crucial for LLMs, according to Murthy.
BUSINESS
Indian mindset not oriented towards problem definition and solving: Infosys founder Narayana Murthy on why building an LLM doesn't make sense
Murthy spoke to Moneycontrol on the sidelines of the Infosys Prize, where it announced the winners in economics, computer, humanities and social, life science, mathematics and physics categories
BUSINESS
TCS cuts variable pay at senior levels for July-September quarter on tepid demand
According to sources, while some employees got only about 20-40 percent of their quarterly variable pay out, others even got zero percent despite adhering to the company's compulsory work from office policy.
BUSINESS
Once people get used to 10-minute food deliveries, there is no going back: Swiggy group CEO Sriharsha Majety
In a wide-ranging interview, Majety expressed confidence that Instamart will become a dominant player. He also explained why it is not competing with DMart and discussed his plans to hold earnings calls every quarter.
BUSINESS
Clients expecting Gen AI capabilities to be part of large deals, says Infosys CTO Tarafdar
Tarafdar added that AI and Gen AI are leading to the re-imagining of processes, apart from generating productivity and efficiency benefits.
