🚨
#Swiggy
sets IPO price band at Rs 371-390 per share
ET had reported on Monday that Swiggy would issue shares within this price range. At the upper end, the company’s valuation would reach $11.3 billion.
Hey, everyone. It's recap time again but our main story today is so utterly, madly, pandemically bizarre that we've decided to skip our usual introduction and get right to it.
THREAD
🚨🚨
@BYJUS
appoints
@_arjunmohan_
as CEO; incumbent Mrinal Mohit on way out
Mohit, a close lieutenant of founder Byju Raveendran, is leaving after spending nearly 10 years at the company.
@digbijaymishra1
reports
Google Chief Executive Sundar Pichai will replace Larry Page as CEO of parent Alphabet, extending a long retreat from public roles and active management by Page and Sergey Brin at the company they co-founded 21 years ago
🚨 Tesla has opened a fully-owned Indian subsidiary in Bengaluru, as a first step to set up an R&D unit and a manufacturing plant for its electric vehicles in the country
Hope Infosys and Nandan Nilekani will not let down our taxpayers in the quality of service being provided, Finance Minister Nirmala Sitharaman says on Twitter.
On Gender Gap In India's Startup Ecosystem
"I've always said there are no glass ceilings. I don’t think men are waiting to not allow women to do what they want. I think women have to want it...And if they want it for themselves, they will have it."
Read:
🚨🚨 🆕 🆕 Rare Rabbit, a Bengaluru-based omnichannel premium men’s apparel brand, is closing its maiden institutional funding round of Rs 500 crore valuing the company at Rs 2,200 crore.
ET Exclusive-Morgan Stanley warns Walmart may exit
#Flipkart
post new FDI rules. Says an exit is not completely out of the question with the India e-commerce market becoming more complicated,
@NishanthV_ET
@samidhas
🚨
#Tata
Sons has invested more than $2 billion in super app
#TataNeu
, which has seen a surge in business after being reworked in time for the just-concluded Indian Premier League (IPL), Tata Digital CEO Pratik Pal told ET in an interview.
@rsprasad
@SurabhiA_ET
@ASMankotiaET
.
@rsprasad
: I have instructed the department to come up with a policy framework so that work from home becomes a mass movement in India. There is great potential to permit innovation, reduce load on the system and the establishment
@rsprasad
had a word of advice for startups at
#ETStartupAwards
-“I want to tell something to startups. Never ignore the facet of inclusion. Indians love technology. You will never succeed in India without compassion..”
@rsprasad
@SurabhiA_ET
@ASMankotiaET
.
@rsprasad
said the incentives worth Rs 48,000 crore for the electronics manufacturing sector will play a big role in reviving the economy reeling from the Covid-19 virus outbreak
Cricketer
@deepak_chahar9
, wife float fantasy sports app
Chahar along with his wife Jaya Chahar has floated a sports tech venture JCDC Sports, which has rolled out a fantasy sports gaming platform TFG (Trade Fantasy Game).
Read more here:
Bengaluru-based
@zerodhaonline
has replaced giants like ICICI Securities, HDFC Securities, Kotak Securities, Motilal Oswal and Sharekhan to emerge as the largest broker in India in terms of number of clients
Bollywood actor Akshay Kumar has invested an undisclosed amount in GOQii, as part of the home-grown wearable devices maker’s ongoing Series C funding round in which it is aiming to raise $50-$70 million
@BiswarupGET
While social media companies have played a commendable role in dealing with the crisis, they need to behave responsibly in tackling misinformation,
@rsprasad
told
@SurabhiA_ET
and
@ASMankotiaET
.
@stpiindia
units in Karnataka exported services worth Rs 36,459 crore during the past three months amid the lockdown in the wake of a pandemic
@ayanpramanikET
Sridhar Vembu, founder and CEO of
@Zoho
which has remained bootstrapped since it was founded in 1996, has been conferred the Padma Shri award.
#PadmaAwards
@svembu
🚨 Paytm is setting up oxygen plants in 12-13 cities, as hospitals across the country face oxygen shortage amid the more virulent second Covid-19 wave
@vijayshekhar
@Appy2209
🚀🚀 We’re back with Season 2 of
@ETtechRundown
. Come join us, all you Android users, we’ve missed you:) Hosted by
@samidhas
along w/
@ETtech
’s in-house crypto experts
@AshwinM_
&
@Appy2209
who’ve followed every move in this hyper charged industry. Link
Xiaomi now has 2,000 exclusive Mi Stores across the country, with the last 1,000 Mi Stores coming in a little over 4 months. This should help the company reach its target of driving 50% of sales through offline by 2019-end,
@manukumarjain
tells
@Alnoor_ET
The government is not interested in interfering in the activities of social media platforms but wants to stop their 'abuse' and 'misuse' through a 'soft-touch' oversight mechanism, says Ravi Shankar Prasad
@ASMankotiaET
@romitguhaET
⚡️⚡️WazirX catches a cold every time the crypto world sneezes, but India's largest crypto exchange has promised to make amends.
#BitcoinCrash
A must-read by
@Appy2209
:
Justice BN Srikrishna, who led the committee that drafted the data bill, said the bill placed in Parliament which allows govt to exempt its agencies from some or all provisions, is “dangerous” and can turn India into an “Orwellian State”
@MeghaMandaviaET
Global decentralised cryptocurrency exchange
@binance
Group has set up a $50 million blockchain technology fund for India, weeks after the Supreme Court struck down the curbs on cryptocurrency trade in the country
@AditiS90
Aviral Bhatnagar, who earlier led enterprise software and
#AI
investments for Venture Highway, has launched a Rs 100 crore
#fund
to back early-stage Indian startups. The fund, launched by the new
#VC
firm AJVC, will focus purely on pre-seed stage investments, he told ET.
🚨 Exclusive: Reliance Retail-backed
#Dunzo
has secured funding of $75 million through convertible notes, said several people aware of the matter. It is also laying off about 30% or over 300 staff
Zerodha’s
@nikhilkamathcio
launches WTFund for young entrepreneurs
The sector agnostic fund called the ‘WTFund’ will offer a grant of Rs 20 lakh, enabling founders to retain full equity in their ventures.
Scoop: Paytm, which comprises about a third of the total orders on the Open Network for Digital Commerce (ONDC), may forego the 3% commission it charges as a buyer app on the network, intensifying the challenge ONDC poses to the Swiggy-Zomato duopoly.
#Byjus
to form committee to advise CEO on board, governance
CEO Byju Raveendran told shareholders that Byju’s is much larger than any individual and decisions made will be in the best interest of the company.
🚖 TCS has won a 10-year contract from Transport for London to design, implement and operate a cloud-based smart mobility system for administration of London’s 115,000 taxis and private-hire vehicles.
🚨 PUBG Corporation has cancelled its franchisee deal for PUBG mobile games with Tencent Games in India following the ban of the gaming app in the country
Garuda Aerospace to tie up with Goa agri dept for promoting use of drone in farming
Drone maker
@garuda_india
will collaborate with Goa's Department of Agriculture to conduct a drone yatra, an initiative boosting the usage of drones in this sector.
🚨
@sequoia
has promoted five of its executives to the position of managing director, as the marquee VC fund bulks up its leadership team amid unprecedented dealmaking in India's startup ecosystem.
There were two key reasons why Sandeep Nailwal and Polygon’s other cofounders decided to raise $450 million from 40 marquee investors by selling them $450 million worth of Polygon’s native token — institutional legitimacy and firepower.
By
@Appy2209
🏦 Traditional banks will have to transform and evolve to keep pace with the digital revolution underway in the country, said
@ianuragthakur
in a special address at the
#ETStartupAwards
Dialogues
🆕🆕After clocking partial exits from portfolio firms like Sharechat and Sugar Cosmetics, India Quotient gets $64 million from domestic investors for the first close of its 4th fund,
@anandlunia
@sinhamadhukar
🚨 India must replicate the Aadhaar model to create a massive vaccination programme that can cover 3-5 million people daily,
@NandanNilekani
tells
@ragkrishnan_ET
&
@ARaiET
in a wide-ranging interview
🚨 JUST IN | Reliance Retail has led a $240 million funding round in Dunzo, which gives the Mukesh Ambani-led company a 25.8% stake in the quick commerce startup.
🚨 Scoop | Tiger Global, among the world’s most prolific technology-focused investors, is in talks to invest around $40 million in the
#IPL
franchise RajasthanRoyals at a $650 million valuation.
🦈 No deal | Over a year after Shark Tank India Season 1 aired on television, seven of the so-called sharks (investors) completed only 27 of the 65 soft commitments that they had agreed to deploy in startups on the show, according to an analysis by PrivateCircle Research.
🚨 Ola is migrating its IT workload from Amazon Web Services cloud as well, after having exited Microsoft’s Azure cloud.
For Azure, Ola’s departure would mean a daily revenue loss of Rs 5-25 lakh. For AWS, this number would range between Rs 30 and Rs 40 lakh.