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On the condition of anonymity, two persons with direct knowledge of the situation stated that former BharatPe chief executive and co-founder Ashneer Grover is in negotiations with US-based family offices and offshore private equity investors to finance $200-300 million for a new venture. Grover is now in the United States. While it is unclear in […]
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Even though digital enterprises were shaken by the stock market fall, Sequoia India and Sequoia Southeast Asia secured $2.85 billion across three funds to continue funding entrepreneurs in the area. For the first time, Sequoia is launching a Southeast Asian fund worth $850 million, while Indian venture and growth funds will receive $2 billion. “Today […]
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According to J.P.Morgan, Apple Inc’s income from gaming and music services is predicted to increase by 36% to $8.2 billion by 2025, as the iPhone manufacturer leverages its massive user base to boost subscription services. According to JPM analysts lead by Samik Chatterjee, the two services are expected to have a combined subscriber base of […]
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As the owner of the electric automobile Tesla Inc makes a $44 billion takeover attempt for the social media platform, billionaire Elon Musk has been sued by Twitter Inc investors for delaying disclosure of his investment in the firm. Elon Musk allegedly saved $156 million by neglecting to declare that he had bought more than […]
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Vedantu, which is owned by Vamsi Krishna, is laying off 424 of its 5,900 employees. This is on top of the 200 staffers fired off by the edtech unicorn earlier this month. The business laid off 200 employees, according to an article. With this recent development, the total number of laid-off employees has risen to […]
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WhatsApp is informing users that every transaction they make on WhatsApp Payments, the app’s UPI-based service, will now reflect their legal name. The name that appears is the same as the name on your bank account. WhatsApp stated in its FAQ that the condition is imposed by NPCI and is intended to reduce fraud in […]
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Ambuja Cements and its offshoot ACC surged more than 3% and 6% on Monday, respectively, after conglomerate Adani Group said it would purchase Holcim AG’s majority holding in the firms. UltraTech Cement and Shree Cement, on the other hand, saw their shares fall over 1%. Holcim owns 63.19% of Ambuja Cements and 54.53% of ACC […]
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Ashneer Grover of Shark Tank India fame posted a selfie with one of the show’s contestants on Wednesday. Ravi Kabra delighted all five sharks when he pitched his product Skippi Pop on the television. They all proposed to invest in his company jointly, and they each put in Rs 1 crore for a 15% stake. […]
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The state government said on Sunday that the international semiconductor consortium ISMC, a joint venture between Abu Dhabi-based Next Orbit Ventures and Israel’s Tower Semiconductor, will spend $3 billion in Karnataka to build India’s first chip-making factory. The declaration implies that the government’s incentive system to turn India into a semiconductor hub is starting to […]
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The Indian government is planning to build an Open Network for Digital Commerce to challenge Amazon and Walmart’s dominance in the Indian market. Buyers and sellers will be able to engage and trade online using the ONDC platform. The introduction of the ONDC platform follows an antitrust raid by India’s antitrust commission on Amazon’s local […]
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