 "Peerzada Abrar")
Peerzada Abrar
Peerzada Abrar
Peerzada Abrar is a technology and business reporter at Business Standard. He covers the intersection of technology, AI, business and society, and their impact on our lives. This includes tracking top tech firms and startups. He joined Business Standard in 2019 after having worked at The Economic Times and The Hindu, where he covered the entrepreneurship ecosystem, start-ups, new technologies, venture capital, and private equity. A storyteller at heart, he is captivated by the potential of innovation to address global challenges. His narrative spans from resilient communities combating epidemics and natural disasters to groundbreaking initiatives that empower the underserved and transform humanitarian landscapes.
Peerzada Abrar is a technology and business reporter at Business Standard. He covers the intersection of technology, AI, business and society, and their impact on our lives. This includes tracking top tech firms and startups. He joined Business Standard in 2019 after having worked at The Economic Times and The Hindu, where he covered the entrepreneurship ecosystem, start-ups, new technologies, venture capital, and private equity. A storyteller at heart, he is captivated by the potential of innovation to address global challenges. His narrative spans from resilient communities combating epidemics and natural disasters to groundbreaking initiatives that empower the underserved and transform humanitarian landscapes.
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Lenskart FY22 revenue rises 66% to Rs 1,502 cr, but slips into losses
The SoftBank-backed company reported losses of Rs 102 crore in FY22 after reporting a profit of Rs 28 crore in the previous financial year
 "Lenskart FY22 revenue rises 66% to Rs 1,502 cr, but slips into losses")
upGrad's revenue rises to Rs 692 cr in FY22, losses widen to Rs 627 cr
The total expenses of the edtech unicorn for the fiscal were reported as Rs 1,319 crore in FY22, a jump of 157 per cent from Rs 514 crore last year
 "upGrad's revenue rises to Rs 692 cr in FY22, losses widen to Rs 627 cr")
Appario Retail's revenue rises 9% to Rs 15,915 cr, profit increases 53%
However, Amazon recently said it has decided that Appario Retail would cease as a seller on the e-commerce giant's platform within the next 12 months
 "Appario Retail's revenue rises 9% to Rs 15,915 cr, profit increases 53%")
A Rs 5,000 cr opportunity: Hinterland is Pine Labs' BNPL money-spinner
These include products like smartphones, wearables, large appliances, smart televisions, and washing machines
 "A Rs 5,000 cr opportunity: Hinterland is Pine Labs' BNPL money-spinner")
Walmart-owned PhonePe to enable UPI activation on Aadhaar-based OTP
The Walmart-owned firm said this will now enable several millions of Indians to become a part of the UPI ecosystem seamlessly
 "Walmart-owned PhonePe to enable UPI activation on Aadhaar-based OTP")
You're fired! Layoff crisis getting out of control at unicorns in India
A growing list of top tech unicorns or companies with over $1 billion valuation each is laying-off employees in an attempt to conserve cash and focus on profitability amid a funding winter this year
 "You're fired! Layoff crisis getting out of control at unicorns in India")
Chiratae Ventures Growth Fund -I announces its first close at Rs 759 crore
The fund is targeting to invest across 15-20 companies raising Series C and beyond rounds
 "Chiratae Ventures Growth Fund -I announces its first close at Rs 759 crore")
Unacademy gives pink slips to 350 employees in second round of layoffs
CEO Gaurav Munjal apologises to staff, says market challenges forced relook at commitment of no layoffs
 "Unacademy gives pink slips to 350 employees in second round of layoffs")
Edtech pioneer Ronnie Screwvala to build world's largest tech school
The move comes at a time when many unicorns recently fired employees in an attempt to conserve cash and focus on profitability amid steep losses and a funding winter
 "Edtech pioneer Ronnie Screwvala to build world's largest tech school")
Starbucks co-founder Zev Siegl spills the beans about building a brand
Starbucks co-founder Zev Siegl, who was on a visit to India to attend Global Investors Meet in Bengaluru, was seen at a restaurant enjoying filter coffee and masala dosa
 "Starbucks co-founder Zev Siegl spills the beans about building a brand")
350 employees in Udaan to get pink slip in pursuit of profitability
India's largest business-to-business e-commerce firm sacked 180 employees in June
 "350 employees in Udaan to get pink slip in pursuit of profitability")
Byju's ropes in Messi as global brand ambassador for its social initiative
Earlier this year, edtech giant Byju's became the official sponsor of the FIFA World Cup 2022 in Qatar
 "Byju's ropes in Messi as global brand ambassador for its social initiative")
Randi Zuckerberg bats for more women to participate in Web3, crypto
Zuckerberg also toured several startup and venture capital offices and met many investors and founders in Bengaluru
 "Randi Zuckerberg bats for more women to participate in Web3, crypto")
Deals worth 7.5 trn to be struck during Karnataka's Global Investors Meet
Union Finance Minister Nirmala Sitharaman said on Wednesday that initially when this global meet was planned, the expectations and targets were somewhere in the range of Rs 5 lakh crore
 "Deals worth 7.5 trn to be struck during Karnataka's Global Investors Meet")
Modi says India best for investments; JSW, Adani commit Rs 1 trn in K'taka
JSW, Adani commit to spend over Rs 1 trn each in Karnataka over 5-7 years
 "Modi says India best for investments; JSW, Adani commit Rs 1 trn in K'taka")
Byju's decides not to shut its Kerala centre after founder meets CM
Byju Raveendran reiterates his commitment to the state, says company spokesperson
 "Byju's decides not to shut its Kerala centre after founder meets CM")
Will realise $1-trn digital economy goal in 5-7 years: Rajeev Chandrasekhar
The Minister of State for Electronics and Information Technology said that despite the deep disruption caused by the pandemic, India as a nation has emerged stronger
 "Will realise $1-trn digital economy goal in 5-7 years: Rajeev Chandrasekhar")
Covid impact shows that work can be done remotely: Wipro's Rishad Premji
IT companies facing high attrition because they chase the same talent pool and should widen their search, he says
 "Covid impact shows that work can be done remotely: Wipro's Rishad Premji")
Economic fundamentals strong, India best place for investment: PM Modi
Doing business in the country easier because of its democracy and reforms, he tells Karnataka investor summit
Flipkart India FY22 revenue at Rs 51,176 cr, loss widens 39% to Rs 3,404 cr
The B2B arm of Walmart-owned e-commerce firm Flipkart reported expenses of Rs 54,580 crore, up about 19% over the previous year
 "Flipkart India FY22 revenue at Rs 51,176 cr, loss widens 39% to Rs 3,404 cr")