'Hybrid learning is the future, and test prep is a big segment within the entire education space in India.'
'We are anticipating that the hiring trend will continue to see double-digit growth at least for the current financial year.'
JM Financial, Axis Bank, and Bank of America have been roped in as the bankers to run the mandate, say sources.
With this feature, tweets found by the microblogging platform's technology to be harmful or uninvited will be autoblocked. This implies that that such profiles will temporarily be unable to follow an account, see their tweets, or send them direct messages.
Indian accounts, identified by the "+91" in their mobile numbers, were actioned through WhatsApp's prevention and detection methods, for violating either the laws of India or the company's Terms of Service, the firm said in its compliance report.
US e-commerce giant Amazon has written to Ajay Tyagi, chairman of market regulator Securities and Exchange Board of India (Sebi), to take action as is necessary to comply with the Supreme Court Judgment, related to the $3.4-billion merger deal between Future Group and Reliance. Amazon has requested Sebi to direct the Indian stock exchanges to withdraw the Observation Letters related to this deal with immediate effect. In January this year, Sebi had given a go-ahead onto Future Group's scheme of arrangement and sale of assets to Reliance, based on which the Bombay Stock Exchange also granted its "no adverse observation" report to the Rs 24,713-crore ($3.4 billion) deal.
Byju's, says Anita Kishore, has given the founders of the businesses it has acquired the independence to operate separately and maintain their core culture.
Last year in January at Amazon's flagship event Smbhav, Infosys Co-founder N R Narayana Murthy had to shorten his keynote speech from 20 minutes to about five because the event was delayed by 1.5 hours. "I will try to finish it in five minutes, because I am not used to delays," said Murthy, while addressing hundreds of micro, small and medium enterprises (MSMEs) about building businesses that last. In the audience was Amazon founder Jeff Bezos. Murthy referred to Bezos' prediction that the 21st century will be the Indian century. "That confidence enhances our enthusiasm," said Murthy. The relationship between Murthy and Bezos dates to 2014, when Prione, a 49:51 joint venture (JV) between Amazon and Murthy's venture capital company Catamaran, was formed.
Walmart, the world's largest retailer, is tripling its sourcing from India to about $10 billion a year by 2027, said Judith McKenna, president, and chief executive officer of Walmart International, the segment which includes the company's operations outside the US. "To achieve this, we are growing our sourcing team in India," said McKenna, during a fireside chat with YourStory founder Shradha Sharma at Converge@Walmart, the flagship event of Walmart Global Tech India. "Walmart has a 20-year history of sourcing from India and already exports more than $3 billion worth of Made-in-India goods each year to 14 markets worldwide." McKenna said the company has expertise in processes such as international standards and demand forecasting that businesses need to get ready to export.
Postman, a leading application programming interface platform, has secured $225 million in a Series D round, placing its valuation at $5.6 billion. With this, Postman has emerged as the most-valued software-as-a-service (SaaS) firm started by Indian founders, overtaking web and mobile testing firm BrowserStack, which was valued at $4 billion in June. The valuation of the San Francisco-headquartered firm with offices in Bengaluru, where it was founded, has almost trebled in just about one year and risen multi-fold since 2019. Postman, with team members spread across four continents, had secured $150 million in a Series C investment round led by Insight Partners at a $2-billion valuation last summer.
SoftBank-backed Ola Electric took the wraps off its maiden e-scooter offerings -- Ola S1 and S1 Pro -- for a commercial launch on Sunday. With prices starting from Rs 99,999 (excluding state government incentives, registration fee, and insurance cost), the Bhavesh Aggarwal-founded firm said the e-scooters are designed and engineered in India for the world and will deliver the best scooter experience to the consumer. He suggested that after 2025, sale of petrol-powered two-wheelers should not be allowed.
Hinduja Group's business process management entity, Hinduja Global Solutions Limited (HGS) said on Wednesday that it has entered into definitive agreements to divest its Healthcare Services business to funds affiliated with Baring Private Equity Asia (BPEA), at an enterprise value of $1.2 bilion. The deal is subject to closing adjustments, and is expected to complete within 90 days, subject to shareholder and other regulatory approvals. "The cash that will come in as a result of this transaction will be deployed to growing the business as well as looking at buying some capabilities...where capabilities are important for being able to do a good job of customer experience transformation.
E-commerce giant Amazon and Infosys co-founder N R Narayana Murthy's Catamaran Ventures have "mutually decided" to not continue their joint venture (JV) beyond the end of its current term. The JV, Prione Business Services, which has been running successfully for the past seven years, was coming up for renewal on May 19, 2022. The JV enabled over 300,000 sellers and entrepreneurs to go online. It also enabled 4 million merchants with digital payment capabilities, providing these small and medium-sized businesses (SMBs) and merchants access to millions of customers across the country.
C Vijayakumar, the reticent chief executive of HCL Technologies, India's third-largest IT services firm, was recently appointed managing director, succeeding the founder, Shiv Nadar. Back in October 2016, when CVK, as he is popularly called within and outside of HCL, was named CEO, it had been somewhat of a surprise - his elevation being the result of his predecessor, Anant Gupta, suddenly stepping down to "pursue personal interests". CVK, 53, has since taken the firm from under $7 billion to over $10 billion in revenue.
IMD has decided to increasingly use cutting-edge technology such as artificial intelligence (AI) and machine learning (ML) in forecasting, both to avoid such glitches and to counter the disruption of normal seasonal patterns as a result of climate change. It has formed various internal sub-groups of senior officials and meteorologists to decide on how best to use AI and ML in predicting cyclone intensity, and in making short-range weather forecasts (those valid for up to three hours) as well as long-range forecasts.
Sachin Tendulkar has recently made an equity investment of $2 million in digital entertainment and technology company JetSynthesys. The investment further strengthens Tendulkar's relationship with JetSynthesys, as the two already have an existing joint venture for a digital destination for all things cricket, called 100MB, and immersive cricket games Sachin Saga Cricket Champions and Sachin Saga VR. With this investment, Tendulkar joins the bandwagon of existing shareholders of JetSynthesys, who include Adar Poonawalla, Kris Gopalakrishnan, and the multi-billion-dollar family offices of the promoters of Thermax, Triveni Group, Yohan Poonawalla Group and DSP Group.
SoftBank-backed mobility firm Ola, announced expansion of its employee stock options (ESOP) pool to Rs 3000 crore. Ola is also allocating an additional Rs 400 crore worth of stocks to employees in the run up to its IPO. The allocation rewards Ola's high impact employees and will lead to long term wealth creation for them.
India is currently home to 52 unicorn startups and one of the fastest-growing startup ecosystems.
BlackBuck, India's leading online trucking platform, has closed a $67 million round of equity financing. The round was led by Tribe Capital, IFC Emerging Asia Fund and VEF. Existing investors Wellington Management, Sands Capital, and International Finance Corporation also participated in the round. The investment has made the Bengaluru-based company a 'unicorn,' or a startup valued at more than $1 billion, according to the firm. The company will use these funds to further penetrate the market and launch new service offerings for its customer base.
Indians are more vulnerable to technology support-related scams compared to the global average, and lost over Rs 15,000 on average in such scam, a Microsoft research has found. According to the 2021 Global Tech Support Scam Research report, which looks at tech support scams and their impact, consumers in India experienced a relatively high scam encounter rate of 69 per cent during the past 12 months, close to the 70 per cent rate experienced in 2018. In contrast, there was an overall five-point drop in scam encounters globally with a rate of 59 per cent over the same period. The survey was conducted in Spring 2021 and asked consumers to share their experiences with tech support scams for the year prior (January 2020 to present).
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