BUSINESS
Zomato, Blinkit sign deal for merger, to move CCI soon for approval
The development happens at a time when Blinkit has laid off employees, shuttered dark stores, and delayed some vendor payments, amid intense competition in the quick commerce space.
BUSINESS
Exclusive: SoftBank's Munish Varma to step down from Paytm and PB Fintech boards today
The move is in line with SoftBank's move globally to step away from board positions after its portfolio companies go public
BUSINESS
Short videos will be as large as WhatsApp in India, will start monetising Moj this year: ShareChat’s Ankush Sachdeva
ShareChat-owned short video platform Moj recently closed a deal to buy out and merge Times Internet-owned MX Takatak for about $600 million in a move to strengthen and consolidate its position in the market, amid growing competition from local and global rivals.
BUSINESS
Accel raises $650 million seventh India fund, broadens to Southeast Asia
Accel will also invest in Southeast Asia from this fund, in a first, at a time when a funding downturn is on the minds of most venture capitalists.
BUSINESS
Metaverse no longer a buzzword. Retail, shopping, gaming adapting very quickly: Infosys’ Ravi Kumar S
From Meta, formerly Facebook, and Microsoft, to gaming giants, everyone wants a slice of the rapidly evolving and growing Metaverse. Infosys, which counts clients in industries such as retail, banking, and financial services, among others, sees opportunities to redefine the way people shop, work, transact and learn.
BUSINESS
Infosys launches Metaverse Foundry, says has already developed 100 use cases
The move comes at a time when companies around the world are putting a huge focus on the metaverse. From Meta, formerly Facebook, and Microsoft, to IT services providers, the companies are investing significantly in the space.
BUSINESS
Every SaaS company will become a fintech: Chargebee co-founder and CEO Krish Subramanian
The Chargebee CEO says that while the war for talent is very real, it is also bringing many more people into the industry, particularly from IT services to software products.
BUSINESS
Not enough questions on startup culture being asked in boardrooms: InMobi’s Naveen Tewari
Building out the right culture is important because only that will help startups sustain tough times, navigate strategy and build better products. Founders must surround themselves with people who have built companies so that they can be guided well, says Tewari
BUSINESS
SoftBank-backed InMobi IPO in wait and watch mode amid market rout
It was reported in March last year that the provider of mobile ad services and India’s first unicorn was aiming for a US listing by the end of 2021
BUSINESS
We selected the best man for the job, I’ve never felt more comfortable with the business as it is today: Quess Corp chairman Ajit Isaac
Of India’s 530 million workers, 230 million are in the farm workforce and the IT and e-commerce sectors account for just 10 million. So, the noise around The Great Resignation is disproportionate versus the larger problem of employment in MSMEs, migrant labour and non-farm labour, says staffing firm Quess Corp’s Chairman.
BUSINESS
Indian IT industry crosses $200 billion in revenue with 5 million direct employees
The industry crossed $200 billion revenue, by adding $30 billion in the last year, as the rapid pace of technology adoption and migration to cloud post-pandemic boosted the demand for outsourcing services
BUSINESS
Employees from smaller towns, cities will make up 20% of Tech M workforce in less than 2 years: CEO & MD CP Gurnani
Tech Mahindra is tapping the smaller cities for acquisition of talent to beat attrition
BUSINESS
Tata's digital ambitions to get supercharged by N Chandrasekaran’s extension as chairman
Tata Digital is eyeing a valuation of $20 billion and has begun early talks with investors, with an aim to double its Gross Merchandise Value from $3 billion in March 2022 to $7 billion next year.
BUSINESS
I don’t look at price of my house every day, markets will self-correct in long term: Freshworks CEO Girish Mathrubootham
It may have made a dream debut on the Nasdaq, but Freshworks stock has come under pressure.
BUSINESS
I am very happy that N Chandrasekaran's tenure has been extended, he richly deserves it: Infosys founder NR Narayana Murthy
Chandrasekaran is a highly respected and successful corporate leader in India. His tenure at both TCS and Tata Sons has been very lustrous, added Murthy.
BUSINESS
Quess Corp appoints Guruprasad Srinivasan as Group CEO after Suraj Moraje steps down
Quess Corp had brought Moraje as group CEO in November 2019 from McKinsey, where he was a senior partner and a leader in the firm's Asia TMT practice.
BUSINESS
PB Fintech founders to reduce stake through a $140-million block deal
The founders' cumulative stake will reduce to 8.01 percent on a fully diluted basis from 10.33 percent currently. The deal will be executed on February 11.
BUSINESS
Exclusive: Quess Corp Group CEO Suraj Moraje likely to step down
The markets seem to have already gotten a whiff of the development as the Quess Corp stock has come under pressure in the last few weeks.
BUSINESS
Polygon founders Jaynti Kanani & Sandeep Nailwal on why Ethereum will win, and on building an AWS for Web3
Polygon raised $450 million in its first institutional round from a marquee list of investors. Nailwal claims they could have raised $200 million more but decided to stop at $450 million
BUSINESS
Exclusive: CRED in talks to raise funding, eyes $6.5 bn valuation
In the last one and a half years, CRED has built a loan book of over Rs 2000 crore, likely with low defaults since it caters to highly credit-worthy customers.
BUSINESS
Budget 2022: A mixed bag for startups
Budget 2022: People in the startup ecosystem felt it was a mixed bag as it fell short of delivering on crucial reforms around foreign direct listing, taxation, and ESOPs.
BUSINESS
EXCLUSIVE | SoftBank-backed Delhivery may delay planned IPO amid choppy market conditions
Delhivery on November 2, 2021 filed its documents with the market regulator, seeking to raise a billion dollars in an initial public offering (IPO), at a valuation of around $6 billion.
BUSINESS
Exclusive: Amazon in talks to back Trell at $1 billion valuation
Trell’s monthly active users stand at 68 million, doubling year-on-year, while its commerce platform does 800,000 orders a month, burning about Rs 15 crore a month
BUSINESS
As tech stocks fall, investors wonder if the party is over
Indian technology stocks have followed their US peers, where shares of companies such as Robinhood, Lyft and Peloton have fallen sharply. Peloton, whose fitness bikes and treadmills became a pandemic favourite, has fallen over 80 percent.
