BUSINESS
Zoho Corp’s arm ManageEngine eyes $1 billion in revenue in 2-3 years
ManageEngine India grew by over 50% YoY in 2022; India will become its second largest global market in three years, top company executives said.
BUSINESS
Economic Survey 2023: CBDC will boost digital financial services
Economic Survey 2023: RBI’s Digital Rupee will also boost efficiency and encourage innovation in cross-border payments
BUSINESS
Economic Survey 2023: IT-BPM revenue grows 15.5% in FY22 on digital transformation
Between 2015-2021, patent filing from India has gone up significantly reaching over 138,000. Of this, 85,000 were filed in emerging technologies.
BUSINESS
Tech Mahindra's budgeting, hiring and operational metrics to be reviewed monthly: CEO CP Gurnani
Tech Mahindra reported deal wins worth $795 million in Q3. For the first time, its enterprise vertical clocked $1 billion in quarterly revenue.
BUSINESS
Tech Mahindra’s total headcount down by 6,844 in Q3
The IT services consultancy firm reported a decline in QoQ attrition rate, too, which cropped to 17 percent
BUSINESS
Bulk of integration to be completed within this fiscal year, that’s a tall order: LTIMindtree CEO
The company intends to focus on its top five accounts, which make up around 25 percent of its overall revenue, says CEO Debashis Chatterjee.
BUSINESS
GoMechanic taps Cars24, Spinny for a distress sale
GoMechanic's latest funding round was called off last week following alleged misreporting of financials during due diligence, which the founders later admitted to.
BUSINESS
India is becoming an innovation economy: B Capital’s Raj Ganguly
The Co-Founder and Managing Partner of B Capital will be betting big on cross-border SaaS, financial inclusion, and the India consumer story with its $2.1-billion growth fund.
BUSINESS
Facebook Co-founder Eduardo Saverin’s B Capital raises $2.1 billion in Growth Fund III
The fund will be used to invest in start-ups between Series B to Pre-IPO rounds, co-founder and managing partner Raj Ganguly said.
BUSINESS
GoMechanic fraud: How chasing growth at all costs brought down a rising startup
GoMechanic had all the right mix to be a pioneer in the garage services business. It had the first-mover advantage, IIM A-graduate founders, big names of the VC world either invested or interested, a strong customer base, and a network of nearly 1,000 garages across 40 cities in place. Yet things went downhill.
BUSINESS
Lighthouse Canton to raise Rs 550 crore in maiden India-focused venture debt fund
The Singapore-headquartered investment firm announces the first close of Rs 155.4 crore, The target fund corpus is about Rs, 550 crore, with a greenshoe option for an additional Rs 550 crore
BUSINESS
HCLTech’s order book grew 10% YoY in Q3 to $2.35 billion
The IT services major’s CEO C Vijayakumar remains bullish on demand environment, bets on vendor consolidation, cost optimisation and integrated opportunities in the near- to mid-term
BUSINESS
HCLTech's attrition rate declines to 21.7% in Q3FY23
The company added 2,945 employees in Q3, taking the headcount to 222,270
BUSINESS
Former ZebPay CEO launches crypto tax compliance start-up TaxNodes
The start-up will offer a common platform to the retail investor to automate crypto taxation by bringing all of their crypto transactions across multiple exchanges, P2P, private wallets and different blockchains in one dashboard
BUSINESS
CoinDCX starts restructuring business units, lays off employees
The marketing, branding, and activation teams were most affected by this restructuring.
BUSINESS
TCS CEO Rajesh Gopinathan says there have been mindless purchases of cloud services
TCS’ CEO Gopinathan discusses aspects of mindless spending on the cloud during the pandemic-driven digital transformation demand spike. Cloud service was one of the key levers for deal wins in Q3.
BUSINESS
TCS to roll out 100% variable pay to junior employees for Q3FY23
For senior employees, the individual variable payout is based on business unit performance.
BUSINESS
TCS CEO Rajesh Gopinathan remains upbeat amid challenging demand scenario
TCS Q3 Earnings: The company said that growth this quarter was driven by cloud services and market share gains through vendor consolidation.
BUSINESS
TCS Q3 Earnings : Five things to watch out for
TCS CEO Rajesh Gopinathan during Q2 earnings said that the deal pipeline for Q3 looked comforting even as the company continues to remain vigilant of the macro situation.
BUSINESS
Microsoft’s Satya Nadella hails India's lead in digital public goods and infrastructure
The Microsoft CEO is currently touring India across a few top cities for its Future Ready Leadership Summit.
BUSINESS
Infosys’ Salil Parekh says cybersecurity today should come before tech building, not after
Parekh also highlighted the need to build responsible data loops. Data looping is the process of end-to-end data collection and processing that involves aggregating, mining, modelling and visualising data sets.
BUSINESS
Taking pride in what you do is important, says Satya Nadella
“Assuming you have all the tailwinds, managing culture and innovating becomes important,” Nadella said.
BUSINESS
Microsoft CEO Satya Nadella shares six imperatives to drive economic growth through technology in India
Microsoft CEO Satya Nadella also used the example of the ChatGPT chatbot, which has recently gained notoriety, to illustrate what AI is actually capable of in terms of "unifying data and applying AI models as platforms."
BUSINESS
RBI Financial Stability Report: Crypto tokens failed to prove inflation-hedging benefits
To avoid spillovers of crypto volatility and its systemic failures into formal financial system, there needs to be a common global approach, the report said. Under India’s G20 presidency, working on a global crypto framework will remain one of the priorities.
