BUSINESS
Rural growth may help reduce e-commerce heat over next 2 quarters, says Mamaearth CEO Varun Alagh
Quick commerce sales are more profitable than traditional e-commerce on account of category mix, limited SKUs, and B2B in nature, according to skincare unicorn’s founder
TECHNOLOGY
Private sector to match govt's Rs 10,000-crore investment in AI mission: Rajeev Chandrasekhar
The focus is not so much about creating foundation models but about use-cases that will take the power of AI to citizens directly, minister of state for electronics and information technology has said
BUSINESS
Poll time deepfakes, misinformation vindicate need of fact-check unit: Rajeev Chandrasekhar
In a year when many countries like the US, the UK and Germany are expected to have national elections, the Union Minister said democratic, open societies where free speech is protected by law will increasingly have to deal with the challenges of misinformation
TECHNOLOGY
Paytm's ESOP cost was larger than its net loss in FY24
While the embattled fintech’s ESOP grew marginally to Rs 1,466 crore in FY24, its net loss narrowed to Rs 1,423 crore during the period
TECHNOLOGY
Unicorn founders, tech chiefs lend soft endorsement to Modi 3.0 at Lutyens' Delhi
Founders and top executives of Zomato, Mamaearth, Dixon, Urban Company, MapMyIndia, EaseMyTrip join BJP outreach to IT professionals, startups, innovators and intellectuals
TECHNOLOGY
IT firms' workforce utilisation rising to pre-Covid levels: Info Edge's Hitesh Oberoi
Info Edge saw billings growth of 11 percent in the IT segment and 12 percent in non-IT segment, whereas the consulting segment was flat in the March quarter, according to the management
TECHNOLOGY
This VC firm believes India will mint 1,000 unicorns by 2030
100Unicorns aims to raise a $200 million corpus to invest in early-stage startups
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
TECHNOLOGY
Zomato seeks shareholder approval for ESOP plan of 18.2 cr shares worth over Rs 3,500 cr
Zomato’s ESOP cost almost doubled to Rs 161 crore in the March quarter, compared to Rs 84 crore in the year-ago period.
TECHNOLOGY
SoftBank Vision Funds back in red in March quarter with a $300-million loss
The funds sold investments for a total of $21.99 billion in FY24, including full exits from 17 portfolio companies, including Arm, and partial exits from several portfolio companies
TECHNOLOGY
Paytm drives into Ola, Uber lane for auto-rickshaw bookings via ONDC route
Over the past two years, the fintech major has gradually tested and gone live with ONDC in multiple e-commerce categories like food delivery, grocery, fashion and electronics
TECHNOLOGY
BNPL startup Simpl lays off around 160 employees as part of cost-cutting measures
The layoffs, which sources said are aimed at becoming profitable by FY25, have most severely impacted Simpl's D2C checkout vertical
TECHNOLOGY
Zomato-backed Shiprocket wants to move higher in e-commerce value chain
Logistics aggregator has racked up a suite of around 15 products across areas like WhatsApp commerce, influencer marketing, revenue-based financing, telemarketing in a bid to access more bulky revenue pools
TECHNOLOGY
Tier 2 cities drive 65% of retail orders on ONDC in April
Namma Yatri, which is looking to raise its first funding round, saw the number of ride-hailing transactions fall 12 percent in April; retail orders on ONDC remain flat during the month due to Navratri
TECHNOLOGY
My stance won't change: CAIT chief, anti-ecommerce crusader and BJP LS candidate Khandelwal
If ONDC becomes powerful, the presence of foreign companies won't matter, says trade union leader Praveen Khandelwal, who will file his nomination as the BJP candidate for Delhi’s Chandni Chowk Lok Sabha constituency today.
TECHNOLOGY
FirstCry CEO Supam Maheshwari's monthly remuneration drops 49% to Rs 8.6 cr
The second and third highest paid key managerial personnel in FirstCry are Chief of Staff Sanket Hattimatur and Group CFO Gautam Sharma
BUSINESS
IvyCap's 3rd fund reaches final close of Rs 2,100 crore after 2 years
Founded by Vikram Gupta, IvyCap raised a first Rs 240-crore fund in 2014, followed by a Rs 535-crore second fund in 2020
TECHNOLOGY
ONDC hits 150,000 daily retail orders, lowers incentives for funding discounts
The incentive scheme has been restructured to send a message that network participants like buyer apps, seller apps and sellers themselves have to gradually bear a greater burden of funding deals and discounts for customers
TECHNOLOGY
Inside the 99% cheaper plan of creating chip manufacturing jobs for Indians
100,000 semiconductor manufacturing workers could be skilled at the fab in 10 years at an expenditure of around $560 million, according to an industry body’s proposal
TECHNOLOGY
Peak XV, Temasek-backed Fi is the latest fintech to get NBFC licence
Last valued at $520 million in July 2022, the neobanking company's revenue came in at Rs 1.27 crore in FY21 and Rs 25.6 crore in FY22, data from PrivateCircle shows
TECHNOLOGY
Swiggy, OfBusiness investor Norwest wants 8 quarters of financial predictability after IPO
Portfolio bets like Swiggy, OfBusiness, SK Finance, Veritas Finance, Vastu Housing in the IPO pipeline, Norwest India boss Niren Shah tells Moneycontrol in an interview
BUSINESS
Zomato pilots priority delivery feature for extra fees in some locations
This comes days after Zomato increased its platform fees by 25 percent to Rs 5 per order and paused its inter-city food delivery service called Intercity legends
TECHNOLOGY
ONDC makes content-to-commerce pitch to news media platforms
The digital arm of Dainik Jagran has set out to become the first news platform to integrate with ONDC. The government-backed network is trying to convince others.
TECHNOLOGY
Fraud, threats, sexual harassment: Zilingo's Ankiti Bose files FIR against co-founder, ex-COO
Zilingo founder Ankiti Bose alleged that co-founder Dhruv Kapoor and former COO Aadi Vaidya have engaged in deceptive activities, misleading both her and the company's investors in an attempt to gain financial advantages.
