BUSINESS
Exclusive: India tells Meta to become its trusted partner in AI for innovation-friendly regulations at global forum
The government also told Meta that it would welcome an initiative to have Indian techies based in the country working on AI, according to sources
BUSINESS
Ashneer Grover's family paid for South Delhi duplex, vacations, skincare, appliances with company money, says BharatPe
The fintech unicorn has filed a lawsuit against Ashneer Grover, his wife Madhuri Jain, and other family members, seeking damages in excess of Rs 88 crore for alleged misappropriation of funds.
BUSINESS
BharatPe seeks Rs 88 crore in damages from Ashneer Grover & family; files criminal complaint with EOW
Senior Advocate Mukul Rohatgi, representing BharatPe, also requested that the court intervene to restrain Grover from continuing his 'vitriolic campaign' against the company on social media.
BUSINESS
Exclusive: Meta policy chief Nick Clegg gets WhatsApp traceability ultimatum from India
Senior officials tell Clegg that it can keep going to the courts, but the traceability obligation will be enforced one way or another
BUSINESS
Exclusive: Govt pushes Meta for 1 hour turnaround time on content takedown orders, says Google better on compliance
Union IT minister Ashwini Vaishnaw also told Meta that it needs more fact-checkers in India in proportion to the country's population and the user base it commands for its social media platforms.
BUSINESS
‘Valuations don’t matter... If you don’t survive, what’s the point?’, says Anand Daniel of Accel
Unit economics and profitability have become regular talking points in start-up boardrooms right from the product-market fit stage, says VC who invested in unicorns like Swiggy, Ola, Spinny, Vedantu
BUSINESS
India online marketplace sales to jump over three times to $350 billion by 2027: Report
Of the cumulative funding of around $30 billion attracted by marketplaces between 2018 and October 2022, B2C e-commerce, B2B e-commerce, and online food delivery accounted for almost 60 percent
BUSINESS
Digital economy job creation to cross 1 crore mark in next 2 years: Ashwini Vaishnaw
India is becoming a technology producer rather than being a mere consumer of technology, the IT minister has said
BUSINESS
Data draft bill tries to balance ease of doing business, privacy and national security: Jaishankar
The sociology of the countries that give India access to technology and a potential market will be an important considerations in choosing partners in the tech domain, the foreign minister has said
BUSINESS
Amazon to shut down food delivery service in India
Restaurant partners will have access to Amazon tools and reports till January 2023
BUSINESS
Paytm, Zomato top brass rewarded with hundreds of crores of ESOP payouts in H1FY23
Top managers of Paytm got ESOPs worth Rs 564 crore in H1, those of Zomato got ESOPs worth around Rs 380 crore
BUSINESS
Prosus values its 9.67 percent stake in Byju’s at $578 million
Although Prosus' accounting entry implies that it values Byju's at $5.9 billion, experts say that different shareholders may value a private company differently in their books.
BUSINESS
The world is in a bad place this year, but I need to take a long-term view: CARS24 chief Vikram Chopra
Used car marketplace CARS24’s co-founder talks about navigating the funding winter and betting on the long term
BUSINESS
Data protection bill may ease compliance burden, but ambiguity gives govt more powers: Experts
The government seems to have given itself a wide berth to legislate through Rules that don’t require parliamentary proceedings, say lawyers and digital activists
BUSINESS
Top 10 highlights: How the new personal data protection bill affects users and businesses
The Digital Personal Data Protection Bill, 2022 proposes multiple modern provisions like the right of a user to know exactly what personal data of theirs is being collected, how it is managed and processed.
BUSINESS
Government publishes draft Digital Personal Data Protection Bill for public views
Draft bill mandates penalties of up to Rs 500 crore for non-compliance and the creation of a data protection regulator
BUSINESS
Slow smartphone sales, offline surge, unbranded goods drag down online festive sales
Mobile phone sales grew only 7 percent year-on-year due to fewer new launches and a fall in new buyers of smartphones
BUSINESS
PhonePe crossed 10 billion transactions in Sept quarter for first time: Walmart
PhonePe's annualised total payments volume at $920 billion in the September quarter, hits record monthly transaction volume of 3.6 billion
BUSINESS
Flipkart’s double-digit growth drives up Walmart e-commerce sales in Sept quarter
The US-based retail major said that the timing of Flipkart’s Big Billion Days sale event during the quarter helped its international arm restrict inventory growth in the September quarter to $12 billion
BUSINESS
Delhivery shipments to grow in 18-30% range this year: CEO Sahil Barua
Delhivery chief says Shopee shutdown has hurt volume growth of e-commerce industry in first half of financial year
BUSINESS
Info Edge sits on 15X gains from Zomato, Policybazaar: Why Sanjeev Bikhchandani is not selling
Info Edge's investments in Zomato and Policybazaar are cumulatively worth Rs 11,335 crore currently
BUSINESS
Zomato new initiatives head Rahul Ganjoo resigns
This is the second high-profile exit from Zomato in a short while as Siddharth Jhawar, the head of its Intercity Legends service, announced that he had left the company a week back.
BUSINESS
SoftBank won’t hasten exit from $1.8-billion holdings in Paytm, Policybazaar, Delhivery as lock-in expiry nears
Japanese tech investor is sitting on net gains worth $160 million from venture investments worth $2.2 billion in the three unicorns; will look to pare stakes gradually over two years so as to not spark a sell-off in the new-age stocks
BUSINESS
Info Edge's recruitment services billings grow 41% to Rs 426 crore in Sept quarter
Revenue from its recruitment solutions business rose 60 percent to Rs 436 crore, the real estate classifieds segment grew 46 percent to Rs 70 crore and other businesses expanded 120 percent to Rs 99 crore
