Author: News Desk

Uber dismisses a report that claimed uber planned to exit the Indian market and held discussions with potential buyers to sell its India business. Uber competes with SoftBank-backed Ola in the country. Uber aims to expand its engineering talent in India to more than 1,000 people from 700 at present. To remove frustration for riders and drivers alike, the company is also showing trip destinations to drivers before they decide to accept the ride. To make the cash or online decision irrelevant, the company has also introduced a daily pay process for drivers.

Hindustan Motors Ltd on Tuesday said it has agreed to sell its ‘Contessa’ brand to SG Corporate Mobility Pvt Ltd. The sum is undisclosed. The company has executed a brand transfer agreement with SG Corporate Mobility Pvt Ltd on June 16, 2022 for the transfer of the Contessa brand. It includes the trademarks having application number and certain related rights of the brand. The transfer of the brand shall be effective upon fulfilment of the terms and conditions as prescribed in the agreement.

Ferrari plans to launch around 15 new cars by 2026. It will be the brand’s first pure electric vehicle. It will also include a new range-topping supercar and several additions to the Icona series. Ferrari currently has four model lines in series production – the Ferrari Roma, Ferrari 812 Superfast, Ferrari 296 GTB and Ferrari SF90 – in a 50-50 mix of pure-combustion and hybrid models. Ferrari’s first pure-electric car is claimed to leverage “strong commonalities with the internal combustion engine”.

Bengaluru attempts to strengthen e-mobility. The city will receive 150 new EV charging stations. Bangalore Electricity Supply Company Ltd (BESCOM) will install them. This will be carried out in the next six months.BESCOM already operates 136 EV chargers in Bengaluru. It collaborates with National Thermal Power Corp (NTPC) and Rajasthan Electronics and Instruments Ltd (REIL). As of Apr 2022, Bengaluru has over one lakh EVs. It is projected to touch two million by 2030. Bengaluru aims to be a ‘global EV lighthouse city.’

Adani added $72.5 billion to his wealth in just 2021-22. Still, The Adani group is neck deep in debt. The Adani Family to donate Rs 60,000 crore for social causes. Gautam Adani dropped out of college to chase entrepreneurial dreams. He became a self-made millionaire at the age of 20. He owns a Rs 400-crore property in Delhi called Adani House. He cracked a Rs 6,000 crore deal in just 100 hours. The Adani group owns India’s largest private port. He was the first to have thought of the port-rail linkage policy.

SaaS platform LeadSquared has become India’s newest unicorn. With fundraise of $153 million (around ₹1,194 crore) from WestBridge Capital in a Series C round. LeadSquared is the sixth Indian startup to enter this elite club this year and the sixteenth startup to do so overall. LeadSquared is founded by Nilesh Patel, Prashant Singh, and Sudhakar Gorti in 2011. It is a sales automation platform, which helps more than 2000 organization globally to drive sales efficiency.

Once again, Chinese companies are under the radar of the Indian government for allegedly collecting the personal data of citizens. This is a matter of concern as Chinese companies are obliged to share data with the government when needed. Reportedly, the data benefits senior members of the Chinese Communist Party (CCP). According to a media report, the Indian government is investigating the suspected companies for tax evasions and other financial malpractices. The Registrar of Companies (RoC) has arranged cells across the nation to investigate shell companies that have Chinese nationals who are connected to apps promoting betting and dating apps.…

India will have 350 mn e-commerce users by 2025, says the report by WPP’s GroupM and Wunderman Thompson with Amazon Ads. This is almost 2.5 times higher than the statistics in 2020. The report also says that India’s e-commerce users will grow at 23% CAGR by 2030, reaching 500 Mn. In fact, by 2025, about 33 per cent of all internet users will rely on the internet for shopping. BY 2030, the ratio would double to 46%. In 2020, it was 20%. Interestingly, about 80% of India’s urban internet users use e-commerce portals for online product research. Most of them…

As the schools have reopened, edtech startup Udaay has shut down its operations and fired about 120 employees. According to Saumya Yadav, co-founder of Udayy, although they had enough capital on the books, the business was no longer feasible in the offline world as customer acquisition costs became quite expensive. When the schools reopened, parents started asking for refunds saying kids don’t have time for online classes, added Yadav. All employees have been given severance pay. The Gurugram-based startup was founded in 2019 by Karan Varshney, Mahak Garg, and Saumya Yadav offering learning and education services for students from kindergarten…

Adobe has started testing a free-to-use version of Photoshop on the web. It is aiming to open the service for everyone. For the test , users in Canada can access Photoshop on the web through a free Adobe account. Adobe has described the service as “freemium”. It plans to gate off some features that will be exclusive to paying subscribers. The tools will be freely available to perform what Adobe considers to be Photoshop’s core functions.