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In a significant move ahead of Swiggy's highly anticipated IPO, major investors Prosus, Accel, and Elevation Capital hav...
09/07/2024

In a significant move ahead of Swiggy's highly anticipated IPO, major investors Prosus, Accel, and Elevation Capital have announced plans to sell a portion of their shares in the food delivery giant. This strategic decision comes as Swiggy prepares to go public, aiming to capitalize on the robust investor interest in the booming food tech sector.

The share sale by these prominent venture capital firms signals a pivotal moment for Swiggy, highlighting the company's growth and the confidence of its early backers in the public market's potential to drive future expansion.

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India's second-largest largest brokerage firm, Zerodha, has once again faced a technical glitch. On Monday, multiple use...
09/07/2024

India's second-largest largest brokerage firm, Zerodha, has once again faced a technical glitch. On Monday, multiple users took to X (formerly Twitter) to report technical issues encountered while placing orders, which led to substantial losses.
In the wake of a significant financial glitch, Zerodha finds itself under scrutiny as a trader threatens legal action.

The glitch reportedly caused financial losses, prompting the trader to publicly express dissatisfaction and assert plans for legal recourse. This incident has sparked a backlash, highlighting concerns over system reliability and investor confidence. The frustrated trader named Rashshad Rasheed threatened the Kamath brothers-led brokerage firm with legal proceedings.

"Will take you to court if I lose any single penny": Angry trader slams Kamath's Zerodha after glitch. Zerodha's response and handling of the situation will likely influence its reputation and future trust among traders and investors alike.

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Dezerv, a leading player in wealth tech solutions, has secured $32 million in a Series B funding round aimed at accelera...
09/07/2024

Dezerv, a leading player in wealth tech solutions, has secured $32 million in a Series B funding round aimed at accelerating its growth and expanding its innovative financial services platform.

The funding, led by prominent investors, underscores confidence in Dezerv's vision to revolutionize wealth management through advanced technology solutions. With this capital infusion, Dezerv plans to enhance its product offerings, scale operations, and further strengthen its market presence, positioning itself as a frontrunner in the evolving landscape of financial technology.

This highlights the key points of the funding round, emphasizing Dezerv's strategic goals and the significance of the investment in advancing their business objectives.

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Ixigo, India's leading travel platform, has unveiled its financial performance for the fiscal year 2023-24, showcasing i...
05/07/2024

Ixigo, India's leading travel platform, has unveiled its financial performance for the fiscal year 2023-24, showcasing impressive growth and profitability. The company reported a substantial revenue of Rs 656 crore, marking a significant milestone in its trajectory. Alongside this robust revenue figure, Ixigo achieved a Profit After Tax (PAT) of Rs 73 crore, underlining its strong operational efficiency and strategic growth initiatives.

The achievement comes amidst a challenging economic landscape, where Ixigo has continued to innovate and expand its offerings in the travel and tourism sector. The company's performance highlights its resilience and ability to navigate through market uncertainties while maintaining a steady growth trajectory.

Industry analysts have praised Ixigo's financial performance, noting its ability to capitalize on evolving market trends and consumer behaviour. As the travel industry rebounds from pandemic-induced challenges, Ixigo's results underscore its role as a key player in India's digital travel ecosystem.

Looking ahead, Ixigo aims to build upon its momentum by investing in new technologies, expanding its user base, and exploring opportunities for sustainable growth. With a solid financial foundation and a clear strategic vision, Ixigo is set to chart a path of continued success in the dynamic travel market.

ixigo
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Byju's, a prominent player in the educational technology sector, is facing a critical ultimatum from the National Compan...
05/07/2024

Byju's, a prominent player in the educational technology sector, is facing a critical ultimatum from the National Company Law Tribunal (NCLT). The tribunal has directed Byju's to promptly settle employee salaries or brace for intensified financial scrutiny.

During the hearing on July 4, the tribunal emphasized that Byju's is an operational company and should have sufficient revenue to pay its staff. If Byju’s fails to comply, an audit by the Institute of Chartered Accountants of India (ICAI) could be initiated.

"You are a company that is functioning. Surely you should be having revenues," the Bengaluru bench of NCLT said.

This ultimatum follows concerns over delayed salary disbursements within the organization, raising regulatory scrutiny and highlighting challenges to maintaining financial compliance. Byju's is now under pressure to address these issues swiftly to mitigate further regulatory action and ensure operational stability.

BYJU'S National Company Law Tribunal

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Every year, it is expected that Elon Musk will launch Tesla in our country. The last update from him was that they are f...
05/07/2024

Every year, it is expected that Elon Musk will launch Tesla in our country. The last update from him was that they are facing issues from the government. Now, Elon has tweeted that Tesla will not be coming to India.

"Tesla will not put a manufacturing plant in any location where we are not allowed first to sell & service cars"

To this Ola founder and CEO Bhavish Aggarwal said on Friday, "Tesla's pullback from the Indian market is a loss for the automotive company and not for India." He said that the Indian EV and lithium industries are growing rapidly, and it would be too late for Tesla to enter the market.

Bhavish Aggarwal Ola Elon Musk Tesla

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Shark Tank India Pitcher Sends Legal Notice to Sony Over Social Media Account Suspension.A recent controversy has emerge...
25/06/2024

Shark Tank India Pitcher Sends Legal Notice to Sony Over Social Media Account Suspension.

A recent controversy has emerged from the popular reality show "Shark Tank India”, where a participant has sent a legal notice to Sony, alleging that the company unjustly targeted and suspended their social media account. The pitcher claims that this action has unfairly harmed their business and public image. In a statement, they asserted, "They unjustly targeted us," highlighting the perceived bias and the detrimental impact on their startup's visibility and operations.
For more details, stay tuned as the situation develops.

Apple May Partner with Meta on AI Development.In a surprising turn of events, industry insiders are abuzz with speculati...
25/06/2024

Apple May Partner with Meta on AI Development.

In a surprising turn of events, industry insiders are abuzz with speculation that Apple might be forging a partnership with Meta to advance their artificial intelligence initiatives. This potential collaboration comes on the heels of Apple's recent announcements at WWDC 2024, where the company unveiled "Apple Intelligence".

While details remain under wraps, the partnership with Meta would not only bolster Apple's AI capabilities but also provide Meta with an expanded platform to showcase its innovations.

Stay tuned for more updates as we await official confirmation and further details on this potentially groundbreaking collaboration.

WDC2024

Prosus Writes Off Its 9.6% Stake in Byju's Amid Sharp Valuation Decline.In a significant move, Prosus has written off it...
25/06/2024

Prosus Writes Off Its 9.6% Stake in Byju's Amid Sharp Valuation Decline.

In a significant move, Prosus has written off its 9.6% stake in Byju's, India's premier ed-tech company. This decision follows a drastic reduction in Byju's valuation to $5.1 billion, down from $22 billion in October 2022.
Prosus, which had invested $536 million in Byju's since 2018, cited a loss of significant influence over the company's strategic decisions and operational policies. This move comes after the resignation of several key board members and increased scrutiny from legal and financial watchdogs.
Despite the setbacks, Byju's continues to explore new funding avenues and remains a significant player in the global ed-tech landscape.
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Playing with a fake cough or jet-setting on 'sudden vacations'—how's your creativity for skipping work?
30/04/2024

Playing with a fake cough or jet-setting on 'sudden vacations'—how's your creativity for skipping work?

Embark on an inspiring journey through the entrepreneurial waters with Vineeta Singh, CEO and Founder of Sugar Cosmetics...
17/03/2024

Embark on an inspiring journey through the entrepreneurial waters with Vineeta Singh, CEO and Founder of Sugar Cosmetics, as she navigates Shark Tank India Season 3. Discover the transformative deals, the strategic partnerships, and the visionary investments.

Meet the titans of . Swipe left to discover the impressive net worths of your favourite judges and the brains behind In...
15/03/2024

Meet the titans of . Swipe left to discover the impressive net worths of your favourite judges and the brains behind India's most successful startups. Get inspired by their journey to the top!

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