BUSINESS
Profitable and capitalised, it is business as usual for us: Zetwerk CEO Amrit Acharya
“While we also grew a lot last year, we grew profitably. And hence, in some way, destiny is under our control because we can now choose to go aggressive or not, without relying on extreme measures,” he said.
BUSINESS
Can compete with any company, big or small, says Mindtree CEO Debashis Chatterjee
“There’s a steering committee that is working in such a way that it doesn’t distract either organisation (Mindtree and L&T Infotech)… That’s why you still see that Mindtree has been growing. We haven’t lost sight of the big picture. We’re focussing on profitable growth,” he said.
BUSINESS
Growth, not profit, is the lifeblood of a startup: Rocketship VC’s Venky Harinarayan
At a time when some of the world’s largest venture capital (VC) firms, including Sequoia Capital and Y Combinator, are sending out notes to their portfolio companies to prioritise profitability over growth, Rocketship VC’s Venky Harinarayan is advising portfolio startups to stay put on growth.
BUSINESS
Distressed healthcare startup MFine merges with LifeCell International's diagnostics arm
LifeCell’s diagnostics business and MFine will have a combined user base of more than six million. MFine, as a brand, will continue to exist as the consumer-facing platform, under the new entity LifeWell
BUSINESS
Exclusive | SoftBank-backed Unacademy spent Rs 100 crore to poach 30 teachers in Kota
Kota holds significant importance for new-age edtech companies such as Unacademy, as it has been an offline education hub, especially for engineering and medical test preparations, for decades
BUSINESS
SoftBank's Rajeev Misra to step aside from main roles to build and run a new fund
Misra's move to step away from main roles at SoftBank comes six months after the Japanese conglomerate's chief operating officer Marcelo Claure resigned due to disputes over compensation. More importantly, it comes at a time when many of the Japanese investment conglomerate's bets turned sour with technology valuations plunging across the globe over the last six months.
BUSINESS
Pine Labs-owned Setu gets RBI's in-principal approval to operate as account aggregator
The in-principal nod for the Account Aggregator license was received through Setu's subsidiary Agya Technologies.
BUSINESS
Rajesh Nambiar loses ‘executive’ position at Cognizant, takes a pay cut
Nambiar, however, will continue to be a part of the company as the Executive Vice President, Chairman, and Managing Director of Cognizant India, the IT services major informed in an SEC filing in the US on Wednesday.
BUSINESS
SoftBank-backed Ola kicks off cost-cutting exercise, may lay off 400-500 staff
The move to undertake layoffs also comes days after Ola decided to shut down Ola Dash, its quick commerce business, and also recast its cars business to focus more on strengthening its electric division.
BUSINESS
Media tech unicorn Amagi aims to IPO in India: Co-founder Baskar Subramanian
Profitability is an addictive phenomenon. Once you become profitable, you want to be profitable, says Amagi co-founder Baskar Subramanian.
BUSINESS
Byju’s’ FY21 results may take few more weeks, Deloitte yet to sign off on them
The delay in filing comes at a time when the company has been firing people, with reports saying that India’s biggest education company is struggling with funds
BUSINESS
Intuit to stop offering QuickBooks Online products in India from January 2023
The firm, however, said this will not impact Intuit’s presence in India, where it has over 1,300 employees.
BUSINESS
School-based startups defying larger edtech trends; opportunity to double down on growth: LEAD co-founder Sumeet Mehta
Mehta said targeting schools is the best way to improve the learning outcomes of children. The company plans to stay away from tuition and test prep.
BUSINESS
25-40% unicorns won’t survive due to foolish models, negative unit economics: InMobi CEO Naveen Tewari
“I am excited about the first phase of creating 100 unicorns by our country, of the big exuberance and the big ambition that we hold. But I think the downturn, in reality, makes it clear who is going to survive, who is going to thrive,” said Tewari.
BUSINESS
InMobi's Glance aims to cross one billion users in 2-3 years, says CEO Naveen Tewari
Naveen Tewari also said the company plans to expand its creator-led live commerce platform Roposo and its gaming platform globally.
BUSINESS
Zilingo's shareholders await board's decision as meeting ends inconclusive
The Board did not conduct any voting today on any of the proposals, and the directors said that the Board will meet again after considering the management buyout offer and liquidation of the company.
BUSINESS
New ideas, products happen on whiteboard not behind Zoom. Here's why InMobi founder Naveen Tewari wants employees at office
“If you are working on creating cutting-edge, new products or ideas, it doesn't happen sitting behind Zoom or Teams calls. You have to be in front of each other, on a whiteboard exchanging ideas,” said Tewari in a recent episode of Bits to Billions.
BUSINESS
Zilingo founders join hands, make buyout offer as B2B startup teeters on edge of liquidation
According to the letter, the new investor will be infusing $8 million in equity in tranches. The offer further stated that pursuant to Singapore's Insolvency, Restructuring, and Dissolution Act, Zilingo will be transferred to the ownership of a newly incorporated entity.
BUSINESS
Exclusive: Zomato postpones Board meeting on Blinkit acquisition by a week
Food delivery firm wants to take large shareholders into confidence regarding the acquisition of the quick commerce company, say sources.
BUSINESS
The Shah pulls back: Kunal Shah is a more cautious angel investor after last year’s frenzy
Shah’s investments have dropped sharply in 2022 with the overall funding to India’s startup ecosystem, which is currently the world’s third-largest, slowing amid a correction in global financial markets. According to data shared by data analytics firm Tracxn Technologies, Shah has closed only 26 rounds so far this year.
BUSINESS
For PhonePe founders, hustle culture is overrated, weekends are only for family
According to Nigam, the fintech sector doesn't allow overworking and requires a stable approach.
BUSINESS
Exclusive | Zomato board to sign off Blinkit acquisition on June 17
The share swap deal does not need competition watchdog CCI’s approval as it falls under the 'de-minimis' exemption, Moneycontrol reported earlier
BUSINESS
PhonePe is made in India and will list in India, says CEO Sameer Nigam
Nigam said that the Walmart and Flipkart-owned startup will go public once its core businesses turn profitable and its new-age initiatives achieve good scale.
BUSINESS
ByteDance exits Josh parent at 56% discount ahead of re-entry into India market
ByteDance received $102.67 million for its entire investment. Considering VerSe Innovation’s $805-million primary fundraise in April, which it raised at a valuation of $5 billion, ByteDance should have received about $232 million for its investment.
