Flipkart, the e-commerce company owned by Walmart, is intensifying its efforts to achieve profitability as it is eyeing a valuation of approximately $60 billion at the time of its initial public offering (IPO), now planned in 2025-2026, instead of this year, according to people familiar with the matter. The firm might consider listing in the US or any other geography, including India. The company, which counts the likes of Amazon and Reliance's JioMart among its competitors in India's burgeoning e-commerce market, had also contemplated launching an IPO in 2022-2023.
As 8 new startups join the 2018 club, average time taken to be a $1 billion firm now stands at 5-7 years, next only to China, says a Nasscom report
Walmart-owned fintech firm PhonePe said it has crossed 500 million lifetime registered users on its platform. With this milestone, 1 in 3 Indians are now on PhonePe. The company said it is the first Indian internet company to have reached this scale globally. This milestone has been achieved in just over 7 years since the PhonePe UPI (Unified Payments Interface) payments launched in August 2016.
'A key reason for the strong interest in IPOs has been an increased focus on profitability and reasonable pricing of deals.'
BlackRock has again reduced the valuation of its share in edtech firm Byju's - this time to about $1 billion, TechCrunch reported on Friday, citing disclosures made by the US-based asset manager. This is 95 per cent less than its peak valuation of $22 billion in 2022. The markdown comes at a time when the company is facing a multitude of challenges, including securing fresh capital, delays in financial reporting and legal disputes with lenders.
About 21 per cent Indians born between the mid-1990s and mid-2010s say a potential partner not aligning politically with them is a dating red flag.
To come up with first EV by 2025, expects market to grow two to three-fold in the next ten years.
With investors asking for a change in the board structure at Byju's, the edtech giant's founder and chief executive officer (CEO), Byju Raveendran, is now asking them to put $300 million into the company for more control. The company has rung up $5.8 billion from investors such as General Atlantic, Sofina, the Qatar Investment Authority, Sumeru Ventures, Vitruvian Partners, BlackRock, Chan Zuckerberg Initiative, Sequoia, Silver Lake, Bond Capital, Tencent, and Tiger Global.
An exhibition on the origins of Indian art, culture, handicrafts, and India's grassroots farming innovations is scheduled for September 9 and 10.
'It is an existential crisis. We cannot recover lost ground through social media. We need to forge alliances and reshape our ideological contours.'
We must stop stigmatising business failures. Particularly when startups are mushrooming all around, the financial system, backed by the RBI and the government, can explore ways of extending support to restart the journey of a failed entrepreneur by finance as well as counselling, recommends Tamal Bandyopadhyay.
Meet the youngsters who rule India's social media.
Group buying sites, discounted fashion brand retailers and specialised online stores dominate the list of 20 hottest e-commerce start-ups.
Modi will arrive in New York on June 20 and will lead the 9th International Yoga Day celebrations at the UN headquarters on June 21.
On Easter, April 9, 10,000 BJP workers are being assigned to visit the houses of 100,000 Christian families. Plans are afoot to visit the homes of Muslims on Eid.
Modi's emphasises on transit for trade comes amid Pakistan's reluctance to provide such a facility for two-way trade between India and Pakistan.
Apparel exports to Japan are expected to grow by 20-25 per cent year on year from the current $220 million on account of rising opportunities for domestic exports, AEPC said on Saturday. Apparel Export Promotion Council (AEPC) said that rising opportunities due to changing geopolitical landscape, government supports like production linked incentive, mega park scheme, improving the quality standard, getting sustainable and utilising benefits of free trade agreements with major markets are the key growth drivers. To promote exports to Japan, the council is organising a two-day show in Gurugram.
When the country is full of confidence and resolve, and intellectuals of the world are optimistic about India, talk of pessimism, showing the country in poor light and hurting the morale of the country also takes place, he said at the India Today Conclave.
598 problems. 7,531 possible solutions. 10,000 students. Vivek Kulkarni takes us through the making of the 36-hour event.
Meta (formerly Facebook) founder Mark Zuckerberg on Wednesday said India's entrepreneurial spirit and massive scale is fuelling optimism about the future and the opportunities that the country presents. Speaking at Meta's Fuel for India 2021, Zuckerberg also said he is excited about the role that India will play in building the metaverse. Metaverse refers to a combination of multiple technologies, including virtual reality, augmented reality and video where users "live" within a digital universe.
'I'm pitching India for the strengths we offer, including the English language, engineers, doctors, nurses, professionals, innovative talent of startups.'
The Department of Space (DoS) plans to realise entirely-built rockets -- GSLV-Mk III and SSLV -- from Indian industry partners, in addition to PSLV, according to a top official of its commercial arm NSIL.
Vijay Mallya, who faces prosecution in India, is reportedly in London.
Allowing 12-hour shifts for all and night-time work for women was meant to benefit software firms, but is said to have clinched Foxconn's Rs 80 billion investment.
'As the world goes digital, we cannot afford to be left behind.'
Modi, upon arrival, was received by External Affairs Minister Sushma Swaraj.
As its backyard remains embroiled in tension, Gurugram is exercising caution.
Ola Electric, India's largest maker of electric scooters, launched its most affordable ride on Tuesday, in an attempt to woo more customers and expand its electric two-wheeler lineup.
According to a study more than one-fifth of India's product start-ups are from the city.
Ratan Tata, chairman emeritus, Tata Sons, launched Goodfellows, India's companionship startup for senior citizens, in a bid to encourage inter-generational friendships.
In order to make it hassle-free, various start-up support groups such as TiE (The Indus Entrepreneur) and India Angel Network (IAN) are partnering with the digital NBFCs to extend debt finance to their member companies.
Can Bhavish Aggarwal upend the electric two-wheeler market, which is now overwhelmingly in favour of scooters?
Though startups find 17 mentions in the Budget speech of the finance minister, and have been promised tax exemptions, the reality is that only 2 per cent of the 4,648 applications received from startups for income tax exemption had been approved as of February 2019, according to an answer to a Parliament question. As India's startup space bubbles with activity - new, young players are tapping into opportunities opening up - there are local anti-portfolio stories circulating about investors missing opportunities in 'unicorns', or companies that have reached valuation of $ 1 billion, says Vandana Gombar.
These unicorns, or startups valued at over USD 1 billion, are across industries, beyond technology and tech-enabled sectors as well, like pharmaceuticals, and consumer goods, Credit Suisse India equity strategist Neelkanth Mishra told reporters in Mumbai.
The Reserve Bank on Thursday said it will come out with a framework allowing borrowers to switch to fixed interest rate from floating interest rate, a move that would provide relief to borrowers of home, auto and other loans reeling under the impact of high interest rate. Unveiling the bi-monthly monetary policy, Reserve Bank Governor Shaktikanta Das said under the framework, to be put in place shortly, the lenders will have to clearly communicate with the borrowers about tenor and EMI. "The supervisory reviews undertaken by the Reserve Bank and the feedback and references from members of public have revealed several instances of unreasonable elongation of tenor of floating rate loans by lenders without proper consent and communication to the borrowers," he said.
Auditors seem to have developed a heightened sense of risk and are not content to tick the boxes and sign the papers.
The Indian PC market grew by 17.8 per cent in shipment to 3.7 million units in the April-June 2022 quarter, International Data Corporation (IDC) said in a report on Thursday. The PC market includes desktops, notebooks and workstations.The notebook category continued to be the volume driver, with the shipment of 2.6 million units in the June 2022 quarter. However, its growth rate reduced to 7.3 per cent compared to over 30 per cent on average for the last three quarters.
The ban in India would hit Chinese internet companies that were making headway in the world's fastest-growing mobile market.
In an otherwise agriculture- and public health-focused Union Budget 2018-19, artificial intelligence, machine learning, blockchain technology, internet of things -- jargons that found little or no mention in the previous Budgets -- managed to make their presence felt.
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