Author: News Desk
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.
Ed-tech startup TutAR got selected as one of 15 startups to represent India at VivaTech.V ivaTech is Europe’s biggest innovation, start-up and tech event held annually in Paris, France. VivaTech was held from 15th June 2022 to 18th June 2022 in Paris, France. CEO and Founder of TutAR app, Mr Thomson Tom attended the conference and exhibited the TutARverse. He got a chance to demonstrate in front of eminent personalities like Sameer Nigam(CEO and Co-founder of PhonePe), H E Jawed Ashraf (Indian Ambassador for France). India has been Selected as the Country of the Year. It was the first time …
SEBI has imposed a penalty of ₹30 lakh on Reliance Industries (RIL) and its two compliance officers. For allegedly violating fair disclosure norms over the Facebook-Jio deal. In April 2020, Meta’s Facebook invested $5.7 billion in Reliance’s Jio Platforms. SEBI said Reliance did not disclose the deal even after newspaper reports in March 2020. SEBI said it was “incumbent” on Reliance to provide “due clarification on its own” once it knew about the “selective availability” of the information. It imposed a penalty of 3 million Indian rupees ($38,522).
Indian Oil Corp launches ‘Surya Nutan’. It is a kitchen-connected indoor solar cooking system. Surya Nutan is rechargeable and comes in three models. The price ranges from Rs 12,000 to Rs 23,000.The stove has a 10-year life with no maintenance. It can be used in all seasons.The solar panel has a 25-year life. The company will reach out to customers via its LPG network.
IKEA plans to increase local sourcing to 50% in the coming years. Said Susanne Pulverer, Chief Executive Officer of IKEA India. IKEA started business in India in 2018. Its first store was in Hyderabad. Later, it launched stores in Mumbai and Bengaluru. It plans to open more stores in Bengaluru. Susanne said India is an important market for IKEA. So far, close to 100 mn Indians visited IKEA.