Author: Ansh Singh

New Delhi:  Elon Musk made headlines with his audacious $44 billion acquisition of Twitter, renaming it ‘X’. Fast forward to today, and the company’s value has plunged to just $19 billion, leaving investors and employees astounded. Recent revelations unveil an intriguing twist in the story. While Musk had initially touted a rosy $20 billion valuation at the time of the acquisition, reality has proven otherwise. It’s not just the investors who are questioning the lofty price tag; even Musk himself admitted to overestimating Twitter’s worth in an email to his team, likening it to an “inverse start-up.” Under Musk’s leadership,…

New Delhi: Corning, the global leader in specialized glass manufacturing for electronics, has exciting news to share: a groundbreaking collaboration with Optiemus Infra to establish a cutting-edge cover glass production facility in India. This venture is set to receive a whopping investment of Rs 1,000 crore and is primed to kickstart production in the fourth quarter of the upcoming year. Renowned as a vital supplier to tech giants such as Apple, Samsung, Xiaomi, Vivo, and Oppo, Corning is taking its first significant step into Indian manufacturing, focusing exclusively on glass production. But their ambitions stretch far beyond mobile phones, as…

New Delhi: “While the push for employees to return to the office faces resistance, TCS employees grapple with a unique dilemma: limited desk space and job role confusion. Over the past two years, TCS has hired a whopping 100,000 new employees, bringing their total workforce to over 600,000. This surge in headcount is a key factor contributing to the office space shortage. Compounding the issue, TCS has eliminated what they referred to as “occasional occupancy zones (OOZs),” which provided plug-and-play workspaces for temporary seating at their offices. With these spaces no longer available, some employees have resorted to working in…

Surat: Ashneer Grover, a prominent figure in the world of finance and technology and the Third Unicorn cofounder, recently expressed his views on the future of the fantasy sports industry during a press conference in Surat. His statements shed light on the potential challenges faced by this dynamic sector and its future prospects. “The Industry is Dying,” Ashneer Grover Declares In a surprising turn of events, Ashneer Grover openly stated, “The industry is dying.” These words were in response to a question raised by a member of the conference regarding the state of fantasy sports. His comments offer a unique…

New Delhi: On October 27, Mukesh Ambani, the Chairman of Reliance Industries (RIL), reportedly received a threatening email. According to the Mumbai police, the email contained a death threat, stating that he would be shot if he did not pay Rs 20 crores. The security team stationed at Mukesh Ambani’s Mumbai residence, Antilia, alerted the police about the death threat. The threat was reportedly sent by an individual identifying themselves as Shadab Khan on October 27. Following this, a formal complaint was promptly filed with the authorities. Upon receiving the threatening email, the security head responsible for Mukesh Ambani’s safety promptly…

New Delhi: Alphabet’s subsidiary Google has committed to invest a staggering $2 billion in Anthropic, the AI startup led by former OpenAI executives. This financial pledge encompasses an initial $500 million cash injection, with an additional $1.5 billion earmarked for future investments, according to a spokesperson from Anthropic, as reported by CNBC. The Wall Street Journal had previously hinted at this substantial funding endeavour. Anthropic, the creative force behind Claude 2, a formidable challenger to OpenAI’s ChatGPT, has already garnered adoption by major players like Slack, Notion, and Quora. Established in 2021, Anthropic’s valuation reached an impressive $4.1 billion, supported not only by Google…

New Delhi: Future Enterprises, burdened by its debts, has a new contender vying for its valuable assets. Rumour has it that Jindal India has presented a secretive debt resolution proposal as part of the Insolvency and Bankruptcy Code (IBC) proceedings. This development comes at a time when Reliance Retail, owned by the illustrious Mukesh Ambani, is also competing to acquire the beleaguered company. Reliance Retail had recently sought an extension until October 30th to finalize its bid for Future Enterprises. According to the Economic Times, the financial specifics of Jindal’s proposal are veiled in secrecy, as it was submitted in…

New Delhi: Instagram Threads, the rival to Musk’s X, is on a roll, introducing new features like polls and GIF support. In quick succession, the app has added a web version, a free edit button, profile switching, likes, full-text search, a chronological feed, voice posts, and more. Mark Zuckerberg, the CEO, is optimistic, hinting that Threads could become Meta’s next billion-user sensation. These projections may seem ambitious, especially as Threads currently has just under 100 million monthly active users, as Zuckerberg mentioned. However, they don’t account for the remarkable appeal of X, which has retained its U.S. power users and…

New Delhi: Mamaearth, the renowned brand under the capable leadership of Honasa Consumer, is venturing into the world of Initial Public Offerings (IPOs) with great promise. This financial extravaganza offers a share price range from ₹308 to ₹324, each share holding a face value of ₹10. Investors are warmly invited to embark on this captivating journey as the Mamaearth IPO subscription window opens on Tuesday, October 31, and gracefully concludes on Thursday, November 2. Prior to this grand event, the allocation of shares to anchor investors for the Honasa Consumer IPO will be revealed on the distinguished date of Monday,…

New Delhi: Meta, the parent company of Facebook and Instagram, is facing a significant legal challenge as dozens of U.S. states, including California, Colorado, New York, Arizona, and others, have filed a lawsuit accusing the tech giant of intentionally designing its products to target children, which they claim has negatively impacted their mental health. In a coordinated effort, 33 states jointly filed the lawsuit, while nine attorneys general separately filed suits in their own jurisdictions.  The lawsuit alleges that Meta violated both state and federal laws by using tactics to entice young users to spend more time on their platforms, such…