BUSINESS
Did Rameshwaram Cafe blast aim to undermine Brand Bengaluru?
As investigations go on, political parties trade charges. The BJP has alleged that the Congress is turning the IT capital into ‘Bomb Bengaluru’, while the Karnataka Deputy CM, D K Shivakumar has accused the opposition of tarnishing the tech capital’s image.
TECHNOLOGY
ONDC records over 7.5 million transactions in February, up 15% from previous month
ONDC clocked 7.5 million transactions in February, of which 3.8 million were for ride hailing and the remaining 3.7 million were retail purchases
TECHNOLOGY
India needs to ensure that semiconductor units are viable, says Chip War author
The facilities seem likely to integrate well with India's existing manufacturing ecosystem, says chip historian Chris Miller
TECHNOLOGY
Ola, Uber challenger Namma Yatri crosses 5 mn users, $50 mn in driver earnings
While the platform offers cab rides in Kolkata, Kochi and Chennai, users can only avail of auto-rickshaw rides in Bengaluru, Delhi, Mysore and Hyderabad as of now
TECHNOLOGY
Byju’s investors vote to oust Byju Raveendran: What happens next?
Last week, key shareholders held an extraordinary general meeting and declared that they had voted to overhaul the company’s leadership and governance
TECHNOLOGY
Amid funding delay, Tencent-backed Pratilipi asks employees to look out for jobs
A Rs 30 crore funding round that the company was aiming to close by the end of 2023 is taking more time than expected.
TECHNOLOGY
From downbeat Grofers to thriving Blinkit: Inside Zomato's brahmastra
From beaten-down valuations and a rudderless path, Zomato-owned Blinkit has raced ahead in the express delivery segment.
TECHNOLOGY
Byju's rights issue to raise $200 million fully subscribed, founder commits $45 million
The edtech is dealing with the twin crises of a cash crunch and some of its investors seeking to oust the leadership to reconstitute the board.
TECHNOLOGY
ONDC jazzes up incentive scheme with week-on-week growth 'multiplier'
In the 10th version of its incentive scheme, ONDC has also restricted financial incentives to merchants who are related parties of seller-side platforms on the network
TECHNOLOGY
Paytm's ESOP spend was greater than that of Zomato, Policybazaar, Delhivery, Nykaa combined in Q3
Paytm was the only loss-making company of this new-age lot during the quarter
TECHNOLOGY
New-age internet firms turn a corner as profitability soars in third quarter
While Paytm was improving its financial health, it remains an outlier and may continue to incur losses in the next few quarters due to the RBI strike.
TECHNOLOGY
Paytm to acquire ONDC startup Bitsila amid payments bank crisis
Bengaluru-based Bitsila is currently the third largest seller side platform by transactions on the Open Network for Digital Commerce, sources said. The deal is in advanced stages and will likely close in the coming week, according to two people in the know
TECHNOLOGY
SoftBank says fair value of vision funds’ India bets at $13.8 billion
The two vision funds have pumped in $11 billion into Indian companies since November 2018 and had already clocked exits worth $6.2 billion-$6.5 billion as of early January this year.
TECHNOLOGY
SoftBank says 'very pleased’ with India portfolio, no rush for them to go public
While four of its portfolio firms – Zomato, PB Fintech, Paytm, and Delhivery – are listed, it is now preparing to list the next set of companies from its portfolio, which will include Firstcry, Ola Electric, Swiggy, and OYO
TECHNOLOGY
BharatPe gets Ministry of Corporate Affairs notice under Section 206 in ongoing enquiry
The ministry had begun an enquiry as a fact-finding exercise into alleged corporate governance lapses at the company in 2022, after a public spat broke out between its Board and founder Ashneer Grover
TECHNOLOGY
Tata Neu readies to enter Swiggy, Zomato territory via ONDC route
The Tata Group’s super app sees food ordering as a high-frequency use case that will bring consumers back to the platform regularly.
TECHNOLOGY
In January, ONDC racked up 100,000 retail purchases every day on average
ONDC clocked over 6.5 million transactions across retail and mobility categories during the first month of 2024
BUSINESS
A day after posting surprise net profit, Delhivery CEO cautions of 'swings' in the future
In the December quarter, the company registered a surprise net profit of Rs 11.7 crore compared to a loss of Rs 196 crore in the year-ago period
TECHNOLOGY
Byju's accuses investors of 'conspiring' against company in an email to employees
The management also said that the $200 million rights issue that was announced earlier this week for existing shareholders has already been oversubscribed.
TECHNOLOGY
ONDC looks to woo Metro rail operators, enable end-to-end digital booking for all urban commute
Chennai Metro Rail Limited likely to debut on ONDC on February 2, with Kochi Metro following the next month. Bengaluru Metro has recently invited tenders for the integration of QR code mobile ticketing and card recharge with ONDC and the Bharat Bill Payment System platform.
TECHNOLOGY
Byju's investors issue EGM notice for founders' ouster, say 'deeply concerned' about stability of company
Byju's recently launched a rights issue to raise $200 million from existing investors at $225 million valuation
TECHNOLOGY
Governance in Indian startups needs to improve, more independent directors needed: Flipkart CEO Kalyan Krishnamurthy
According to Krishnamurthy, shareholders and management are too closely involved with the company for them to raise tough questions.
TECHNOLOGY
ONDC pilots finserv foray with personal loans; attracts big players for credit, insurance, MF offerings
Financial services players like Aditya Birla Capital, Tata Capital, Canara Bank, Kotak Mahindra Bank, Bajaj Finserv, Bajaj Allianz, Aditya Birla Health are in various stages of integration with the network
BUSINESS
'Head bloody but unbowed': What Byju's founder said in letter to shareholders
He also informed shareholders that the company is launching a rights issue to raise money amid a cash crunch.
