Author: Ansh Singh

New Delhi: ByteDance Ltd., the parent company of the popular social video platform TikTok, is reportedly initiating a buyback of up to $5 billion from investors, as disclosed by sources familiar with the matter. The offer, set at $160 per share, aligns with the price ByteDance extended to its employees in November. Despite being approximately 11% lower than the 2022 investor offering, this valuation would still position ByteDance among the 40 most valuable public companies globally and the third in China, trailing Tencent Holdings Ltd. and Kweichow Moutai Co. Based in Beijing, ByteDance has emerged as a prominent player in…

New Delhi: VoiceClub, the on-demand audio consultancy platform, proudly announces a significant milestone in its growth journey. The company has successfully secured $700K in a seed funding round led by Better Capital, with substantial contributions from TDV Partners, Blume Founder’s Fund, Sunn91, Astir Ventures, and notable angel investors, including founders of Kutumb, Dhan, PagarBook, Flobiz, Khatabook, and more. VoiceClub, founded by Ayush Singh, Md Wasim Ali, and Azhar Rabbani, has been making waves since its launch in January 2023. This is a unique platform that offers on-demand audio consulting services in different categories like Astrology, Love, Legal, and more. Within a…

New Delhi: Wipro Consumer Care and Lighting, a division of Wipro Enterprises, has disclosed its acquisition of three soap brands – Jo, Doy, and Bacter Shield – from Mumbai-based VVF India, marking its 15th acquisition and the third within the last year. Although the financial details remain undisclosed, Wipro has invested approximately $1 billion in various acquisitions to date. This strategic move aims to broaden Wipro’s presence in the personal care segment. Jo, a significant brand in North, East, and West markets, Doy in the premium segment, and Bacter Shield, with its antibacterial soap and handwash range, collectively generated over…

New Delhi: The Telecom Regulatory Authority of India (Trai) has reportedly instructed Reliance Jio and Bharti Airtel to clearly outline the terms and conditions for their unlimited 5G data offerings following a complaint by Vodafone Idea alleging predatory pricing. This issue harks back to 2016 when Airtel and Vodafone raised concerns about Jio’s promotional plan, which included free data for several months. Trai dismissed Vodafone Idea’s complaint, asserting that the tariffs were not below costs and highlighting Vodafone Idea’s own offering of “unlimited” 4G data plans. While Trai rejected the predatory pricing claim, it directed Jio and Airtel to provide…

New Delhi: BSNL is planning to allocate a minimum of 4% of its total workforce, approximately 54,000 employees, to enhance its enterprise services, as opposed to the current 1.8%. The decision was taken after receiving dropped by 50% to Rs 952 crore in the July-September quarter compared to Rs 1,906 crore in the January-March quarter of FY23 in the Enterprise segment. In the six months ending September, BSNL’s enterprise business revenue witnessed a nearly 10% YoY decrease to Rs 2,007 crore. BSNL’s CMD PK Purwar highlighted the significance of the enterprise business as a high-potential revenue segment. In a letter to…

Surat: Team Hazira of ArcelorMittal Nippon Steel India (AM/NS India) emerged as the winner of the AM/NS India inter-location cricket tournament, organised at AMNS Township in Hazira from November 29 to December 2, 2023. The exciting T20 cricket tournament organised by the HR and Admin Team of AM/NS India at Hazira witnessed the participation of 11 teams from various locations of AM/NS India. A total of 13 matches, including ten league matches, two semifinals, and a final, were played during the tournament. Team Hazira took on Team Khopoli in the final match on December 2. Team Hazira posted a score of…

New Delhi: Adani Group Shares witnessed significant gains on December 4, attributed to a growing risk appetite among investors, bolstered by strong macroeconomic indicators and the Bharatiya Janata Party’s (BJP) electoral victories in three states. Adani Enterprises’ shares surged by 7%, Adani Green Energy rose by 9.4%, Adani Total Gas gained 4.4%, Adani Power increased by 5.5%, Adani Wilmar saw a rise of 1.72%, and Adani Ports experienced a 6.2% increase. Other Adani Group companies also benefited, with NDTV’s share price rising by 3%, Ambuja Cements climbing by 7.3%, and ACC increasing by 6.3%. The collective market capitalization (m-cap) of…

New Delhi: In a notable collaboration that marks a significant stride in the field of technical sales education in India, Edvancer, India’s leading online education venture, has joined hands with Jolt to introduce the Certified Tech Sales Manager Program. This first-of-its-kind dual certification course aims to empower aspiring technical sales professionals with the skills, knowledge, and industry insights they need to excel in their careers. The Certified Tech Sales Manager Program is a 60-hour intensive course designed to provide aspirants with a holistic understanding of the technical sales landscape. Through live projects, hands-on training, and experiential learning led by industry veterans,…

New Delhi: Spotify is undergoing its third round of layoffs this year, eliminating approximately 17% of its workforce as part of an effort to enhance productivity and efficiency. Despite previous cost-cutting measures, Spotify’s CEO, Daniel Ek, noted that the company is still spending excessively, citing slower economic growth and increased interest rates as contributing factors. In a 1,000-word letter to staff, Ek emphasized the necessity for Spotify to be relentlessly resourceful in its operations, innovation, and problem-solving, stating that being lean is not just an option but a necessity for the company’s future success. The music streaming giant, like other…

New Delhi: Discount brokerage firm Zerodha encountered technical glitches on Monday, December 4, coinciding with the day when the Indian stock market indices, Sensex and Nifty 50, reached their all-time highs following a robust rally attributed to the BJP’s success in three out of four state assembly elections. A number of Zerodha users reported difficulties logging into the Kite web platform. The company acknowledged the issue and advised affected users to utilize the Kite mobile app in the meantime. Zerodha communicated about the problem through a statement on social media, particularly on ‘X’ (formerly Twitter). Numerous users expressed their frustration…