In a major financial milestone, Zomato reported a consolidated net profit of ₹176 crore in the second quarter of FY25, representing an astounding 389% year-on-year growth compared to ₹36 crore in the same period last year. This growth reflects Zomato’s strategic expansion across multiple verticals and a tightening grip on operational efficiency, especially in the face of mounting…
In a landmark deal set to reshape Bollywood’s future, renowned filmmaker Karan Johar has sold a 50% stake in Dharma Productions to billionaire Adar Poonawalla’s Serene Productions for a whopping INR 1,000 crore. This bold move comes as Dharma looks to scale its creative efforts and thrive amid industry challenges.
The Strategic Deal
The transaction, announced on October 21, 2024…
In a remarkable exit, 8i Ventures, an India-focused venture capital fund, has secured an impressive 12x return on its early investment in M2P Fintech. The fintech company, which specializes in Banking-as-a-Service (BaaS), recently raised $100 million, allowing 8i Ventures to exit with a return of INR 115.9 crore from an initial INR 9.7 crore investment. The 4.5-year journey delivered an internal…
Mukesh Ambani’s Reliance Industries is reportedly in advanced talks to acquire Disney’s India business, a deal that could reshape the media landscape in the country. This potential merger will see the integration of Disney’s prized assets, including its popular streaming platform Disney+ Hotstar, into Reliance’s media division, which operates JioCinema. The move is part of Ambani’s…
In a move that has sparked debate across the tech world, Meta, the parent company of Facebook and Instagram, recently terminated several employees for allegedly misusing their daily food stipend. This unexpected action has raised eyebrows, especially considering Meta’s financial standing and employee benefit practices.
The issue arose from the misuse of a $25 daily credit meant for ordering…
The India Mobile Congress (IMC) 2024, held in New Delhi, has marked a pivotal moment for India’s tech ecosystem. Moving beyond its traditional focus on grants and support systems, the country is now embracing a comprehensive approach to driving startup success. With the rapid evolution of 5G, artificial intelligence (AI), and cloud computing, India is positioning itself as a global…
Infosys has recently revealed its Q2 FY24 results, surprising investors with mixed outcomes. The company has posted a notable rise in profit, but at the same time, revised its revenue guidance, triggering a sharp selloff of its ADRs on the New York Stock Exchange (NYSE).
Profit Growth in Q2 FY24
Despite market challenges, Infosys demonstrated strong growth in net profits. The IT giant…
Evenflow, an e-commerce aggregator startup based in Mumbai, has successfully raised a bridge round, taking a major step toward its ambitious plan of going public by 2027. This latest round comes as a critical financial boost as the company looks to scale up its operations, acquire more third-party brands, and solidify its presence in the growing e-commerce space.
The Rise of Evenflow in the…
In a bold step forward for satellite communication in India, the government has announced a new method for allocating satellite spectrum through an administrative process. This shift, outlined in the Telecommunications Bill 2023, marks a departure from the traditional auction system. The move is expected to accelerate the rollout of satellite internet services across the country, paving the way…
In a bold move to revolutionize the pharmaceutical landscape, Amazon is set to launch pharmacies in 20 major U.S. cities by 2025, dramatically increasing access to same-day prescription delivery. This expansion will not only enhance customer convenience but also address healthcare accessibility issues, particularly in underserved areas.
The Expansion Plan
Amazon Pharmacy aims to provide…
