Author: Priyanka Chauhan

New Delhi: According to recent media reports, Twitter’s value has significantly decreased to around $15 billion, a staggering 33 percent decline from the $44 billion that Elon Musk and his co-investors initially paid to acquire the platform. Ever since Musk took over, Twitter has faced financial challenges. The renowned financial services firm, Fidelity, stated in its monthly portfolio valuations report that Twitter is now worth only one-third of what Musk had paid for the micro-blogging platform. Musk’s investment in Twitter currently stands at $8.8 billion. In October of the previous year, the outgoing Twitter CEO spent over $25 billion to…

New Delhi: US-based asset management company Fidelity Investments has reduced the fair value of Indian unicorn Gupshup by 31 percent as of March 31, 2023. Fidelity Investments holds stakes in Gupshup Inc, the holding company of the cloud-based chat development platform, through multiple funds. The latest SEC filings of these funds, such as Variable Insurance Products Fund III and Fidelity Central Investments Portfolio LLC, reveal the markdown in the fair value, which now values Gupshup at $957 million, down from $1.4 billion. However, Neuberger Berman, another investor in Gupshup, has not made any adjustment to the company’s fair value. Gupshup…

New Delhi: In a world where startups and freelancers are thriving and in need of reliable and affordable infrastructural facilities, Aarna Coworking & Business Hub has emerged as a leading provider of workspace solutions. Since its establishment in 2018, Aarna CoWork has been catering to the organizational needs of businesses of all sizes, offering comprehensive and easily accessible office spaces in various locations across Jaipur. With a commitment to providing the latest coworking space solutions, Aarna has become a trusted name in the dynamic industry. Founders Sunil Yadav and Sandeep Toshniwal have played a pivotal role in the success of Aarna…

New Delhi: Altigreen Propulsion, an electric vehicle (EV) manufacturer backed by Reliance, is reportedly aiming to raise a significant sum of USD 85 million (approximately Rs 700 crore) at a valuation of USD 350 million. The funds acquired from this funding round will primarily be allocated towards bolstering the company’s production capacity and exploring opportunities for developing new models. However, it is important to note that discussions are still in the preliminary stages, and the specifics of the deal may be subject to change. It has also been reported that some of Altigreen’s existing investors might consider selling their shares…

New Delhi: India’s leading online fashion retailer, Ajio, recently unveiled its highly anticipated event, the ‘Big Bold Sale,’ in collaboration with Adidas and Melorra. The flagship sale is set to commence on June 1, 2023, offering customers an extraordinary shopping experience with an extensive range of fashion styles from over 5000+ renowned brands. The Big Bold Sale (BBS) is poised to be the largest edition yet, presenting customers with access to more than 1.3 million curated fashion styles. Shoppers across 19,000 pin codes throughout India will have the opportunity to browse and select from an array of exclusive international brands, private…

New Delhi: The chief AI scientist at Meta, Yann LeCun, holds a differing opinion from Elon Musk regarding the existential threat posed by artificial intelligence (AI). LeCun, an experienced computer scientist specialising in AI and machine learning, is an optimist who believes that AI has the potential to benefit the world greatly and does not consider it inherently dangerous. In a recent podcast with venture capitalist Harry Stebbings, LeCun addressed Musk’s concerns about AI, particularly in light of the release of OpenAI’s ChatGPT. Musk has repeatedly expressed his worries about the dangers of AI, including in an interview with Tucker…

Bengaluru: In March 2023, commonly marked as the month to celebrate women, KLAY Centres for Child Development and Care, a leader in early childhood care and education, conducted a survey titled ‘Childcare and Corporate Policies in India: An Analysis of Their Effect on Working Mothers’ and Their Productivity’, among working mothers in India to understand the impact of their current childcare arrangements on their relationship with their children and their productivity at work. Furthermore, the survey sought to understand how their workplace policies supported them in managing the balance between work and childcare. Daycare centres have proven to be beneficial in boosting mother-child…

Going ahead, Rannkly envisions reaching a cumulative of 18,000 clients across various locations by the conclusion of the fiscal year 2023-2024 Noida: Rannkly, India’s leading online reputation management platform, is proud to announce its remarkable growth and success in serving over 250+ renowned brands to date. With impressive month-on-month traction, Rannkly has been adding approximately 200 new locations to its client user base every month. The hospitality sector has emerged as the driving force generating the highest traction for Rannkly. Going ahead, Rannkly envisions reaching a cumulative of 18,000 clients across various locations by the conclusion of the fiscal year 2023-2024.…

New Delhi: SEBI, the capital market regulator in India, is expected to ease the regulatory burden on venture capital (VC) and private equity (PE) firms. These firms have become significant sources of risk capital for enterprises that often face neglect from the public market and traditional banks. In an effort to simplify compliance procedures and reduce costs, SEBI announced its plans to conduct a comprehensive review of existing laws governing alternative investment funds (AIFs), which encompass VC and PE funds. To gather recommendations on reducing the compliance load, SEBI reached out to 20 fund officials and senior experts via email.…

New Delhi: Wipro, the Indian IT services company, has decided to merge its Indian state-run enterprises (ISRE) sector with its broader IT Services segment. This decision comes after a significant decline of 20.18% in revenue within the IT Services segment during the financial year 2022-23, mainly due to the completion, closure, or downsizing of large government contracts. One of the challenges faced by Wipro was the collection of overdue accounts receivables from government-related businesses. The company operates across three segments: IT Services, IT Products, and ISRE. In FY23, IT Services accounted for 98.7% of Wipro’s revenue, while the IT Products…