TECHNOLOGY
With 15.4 million developers, India is growing faster than the US for GitHub: CEO Thomas Dohmke
GitHub CEO Thomas Dohmke expects India to surpass the United States as the largest developer community on the Microsoft-owned developer platform by 2027
TECHNOLOGY
AI will not replace developers, will instead create more work: GitHub CEO Thomas Dohmke
Microsoft-owned developer platform GitHub had over 15.4 million developers in India as of May 2024, registering a 33 percent growth year-on-year. India is growing faster than the United States, says Thomas Dohmke in an interview with Moneycontrol.
TECHNOLOGY
Ola Electric gets Sebi approval for Rs 7,250-crore IPO
Ola Electric filed its draft red herring prospectus (DRHP) with the markets regulator on December 22.
TECHNOLOGY
Flipkart closes $950 million round with Google's $350 million at a valuation of $36 billion
Capital from the primary round will be used to double down on quick commerce apart from investing in verticals like travel (Cleartrip) and Shopsy, sources said.
TECHNOLOGY
Google to partner with Foxconn to manufacture Pixel smartphones in Tamil Nadu
Google parent Alphabet will also start manufacturing drones through its subsidiary Wing LLC in the state
BUSINESS
Indians are good at applying ideas generated elsewhere: Infosys founder Narayana Murthy
Murthy urged youngsters to have role models and we will be able to “invent new things”.
TECHNOLOGY
Ola Cabs CFO Karthik Gupta steps down seven months after taking charge
Before joining Ola, Gupta worked as the vice president and regional CFO of Asia Pacific, Middle East and Africa of Procter and Gamble for nearly 17 years.
TECHNOLOGY
Human mind most powerful instrument invented by God: Narayana Murthy on AI replacing coders
Murthy said that the concern about job loss should be replaced by discussions, debates, and thinking on how AI, generative AI, large language models, and other such nascent technologies could be used as assistive tools to make human beings even more productive.
TECHNOLOGY
Tame that wonderful beast and make it an assistive tool: Narayana Murthy dispels AI fears
"I am a confirmed optimist regarding the role of technology in general and specifically in AI. All of this will happen only if we are smart enough to tame that beast and make it an assistive tool," says Murthy
TECHNOLOGY
Porter quietly turns unicorn, closes internal round at $1 billion valuation
This is Porter's second friends and family round in a span of about a year. In the January-March quarter of 2023, the company sold shares worth Rs 7-8 crore to friends and family at a valuation of $700 million.
TECHNOLOGY
SoftBank plans to invest in Indian data centres, industrial robotics as part of AI play
The Japanese technology major is evaluating deals in data centre and industrial robotics and could look at investing $75-150 million per deal once these discussions fructify
BUSINESS
What's in a name? Cognizant India becomes Innovate amid trademark dispute
A Cognizant spokesperson said the company is temporarily using ‘innovate’ as a header in its social media channels to commemorate one-year anniversary of its Bluebolt innovation initiative
TECHNOLOGY
There are not enough consumer brands, we’ve only seen the tip of the iceberg: Accel’s Prashanth Prakash and Fireside Ventures’ Kanwaljit Singh
Be it cookies, ketchup, snacks or personal care and beauty products, most people can recall just 5-6 names but are unable to think of companies beyond that, the two investors said.
BUSINESS
Counsel, don't sell, Byju's Raveendran tells staff; does away with sales call targets, slashes course prices
Byju’s CEO urged employees to ask their 'friends' to join the company to sell courses while they act as their managers, sharing a desire to build a 50,000-strong sales force again within the next year
BUSINESS
Why Paytm President and COO Bhavesh Gupta resigned
Sharma is likely to be more hands-on and will closely monitor every single business division of Paytm until things go back to where they were during Q2 of the last financial year
TECHNOLOGY
Licious hits $100 million in annual revenue run rate
For its next phase of growth, Licious will focus on the ready-to-eat category and open more offline stores. It plans to open 40 stores by the end of the current fiscal.
TECHNOLOGY
FirstCry may refile draft IPO papers by midnight with additional KPIs, December financials
SEBI had sought 25 KPIs, of which FirstCry provided only 5-6 in its first set of filings. The refilling will reflect FirstCry's updated performance, until December 2023, instead of September 2023, as was the case earlier.
BUSINESS
The lack of growth is more market dynamics rather than leadership churn: LTIMindtree CEO Debashis Chatterjee
Many deal wins that were delayed are expected to ramp up in Q1, and revenue will start kicking in, Chatterjee said, adding that the upcoming quarter will be better than Q4.
TECHNOLOGY
Swiggy files draft IPO papers via SEBI’s confidential filing route
This comes a day after Swiggy’s shareholders approved its $1.25-billion IPO, as reported by Moneycontrol earlier.
TECHNOLOGY
Firstcry to refile IPO next week with December financials
Sources told Moneycontrol that SEBI had sought 25 KPIs of which Firstcry only provided 5-6.
BUSINESS
Prosus elevates Ashutosh Sharma to drive growth in India, adjacent markets
Prosus is owned by South African consumer internet group Naspers, one of the biggest technology investors in the world. It has invested $7 billion in India so far.
TECHNOLOGY
Gukesh win historic, India will dominate chess for many years like Russia: WestBridge Capital’s Sandeep Singhal
Sandeep Singhal and Viswanathan Anand together set up the WestBridge Anand Chess Academy four years ago, which is today a fountainhead of chess talent in India. WestBridge is also Gukesh’s sponsor.
BUSINESS
Meetup at Lonavala: RBI holds discussions with banks and fintechs on ways to popularise CBDC
The meeting happens against the backdrop of declining usage of CBDC at the wholesale level and retail level. Despite a push from some banks and the regulator and interoperability with UPI, CBDC has been losing popularity
TECHNOLOGY
Meesho gets investor interest for larger round size
Meesho and Accel had also engaged with each other in the past months but those talks have not fructified. This is the second instance where an early backer of Flipkart has shown interest in Meesho. Tiger Global is the other.
