 "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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upGrad commits Rs 100 crore for 100 'connect and counselling' hubs
Initial reactions have been strong, with over 500 career counselling sessions in the first 30 days. The goal is for the 100 centres to counsel over half a million individuals on their career moves
 "upGrad commits Rs 100 crore for 100 'connect and counselling' hubs")
Vanguard slashes Ola's valuation by another 29% to $1.88 billion
Third markdown by US firm since February 2023
 "Vanguard slashes Ola's valuation by another 29% to $1.88 billion")
Startup world gauges spillover effect of edtech firm Byju's web of crises
Byju's income grew to Rs 5,298.43 crore in FY22. But its losses widened to Rs 8,245.2 crore in FY22. Its total expenses for FY22 rose by 94 per cent to Rs 13,668.44 crore
 "Startup world gauges spillover effect of edtech firm Byju's web of crises")
Byju's pays Jan salaries; Raveendran says moving mountains to make payroll
"To be clear, this fight is only against a few vested interests who were trying to sabotage the company by impeding the rights issue," CEO Raveendran said in a letter addressed to the employees
 "Byju's pays Jan salaries; Raveendran says moving mountains to make payroll")
Byju's fights back: Investors have no voting rights on CEO change
The edtech company responded to statements from select investors calling for an extraordinary general meeting (EGM) to replace founder and group CEO Byju Raveendran
 "Byju's fights back: Investors have no voting rights on CEO change")
Byju's claims 'certain investors' are conspiring against company
Byju's is facing multiple challenges, including a cash crunch, delays in financial reporting and legal disputes with lenders
 "Byju's claims 'certain investors' are conspiring against company")
Key shareholders of Byju's call for EGM, want CEO Raveendran to quit
The current board of Byju's parent Think and Learn mainly consists of Raveendran, his wife and Byju's co-founder Divya Gokulnath, and his brother Riju Ravindran
India is well-positioned in the area of AI, says Google's Jeff Dean
"India has tremendous technical talent; there's a long tradition of computer science students in India doing amazing things," said Dr. Dean
 "India is well-positioned in the area of AI, says Google's Jeff Dean")
Walmart-owned Flipkart to roll out same-day delivery across India
Customers will receive their products before midnight if they place their orders by 1 pm. Order fulfilment will take place from Flipkart's warehouses located in various parts of the country
 "Walmart-owned Flipkart to roll out same-day delivery across India")
US-based Fidelity cuts SoftBank-backed Meesho's valuation to $3.5 bn
This is a decline of about 29 per cent from the SoftBank-backed company's peak valuation of $4.9 billion
 "US-based Fidelity cuts SoftBank-backed Meesho's valuation to $3.5 bn")
Uber launches operations in Jammu & Kashmir; starting with Srinagar
Residents of Srinagar and visiting tourists can now book Uber Go and Uber Intercity rides for their mobility needs
 "Uber launches operations in Jammu & Kashmir; starting with Srinagar")
India's M&A thrives: Sustains growth amid global economic slowdown
Mid-market acquirers shine, capturing almost 50% of deals in 2023, says Bain & Company's global M&A report
 "India's M&A thrives: Sustains growth amid global economic slowdown")
Kore.ai, startup building conversational AI, secures $150 mn in funding
The investment was led by FTV Capital and had participation from chip giant Nvidia
 "Kore.ai, startup building conversational AI, secures $150 mn in funding")
Cash-strapped Byju's to raise $200 mn after taking 99% valuation cut
Equity rights issue likely at post-money valuation of $230-250 million
 "Cash-strapped Byju's to raise $200 mn after taking 99% valuation cut")
Flipkart co-founder Binny Bansal exits board, launches new startup OppDoor
Binny Bansal has officially exited the board the Walmart-owned e-commerce firm, which he founded along with Sachin Bansal 16 years ago
 "Flipkart co-founder Binny Bansal exits board, launches new startup OppDoor")
Bhavish Aggarwal's AI startup Krutrim turns unicorn after raising $50 mn
The AI startup is the third venture helmed by Aggarwal to achieve a $1 billion valuation, after mobility firm Ola and electric vehicle manufacturer Ola Electric
 "Bhavish Aggarwal's AI startup Krutrim turns unicorn after raising $50 mn")
Ola unveils e-bike service in Delhi, Hyderabad; plans 10K EVs across cities
The company plans to deploy 10,000 e-vehicles across Bengaluru, Delhi and Hyderabad over 2 months
 "Ola unveils e-bike service in Delhi, Hyderabad; plans 10K EVs across cities")
Ola's mobility business made profit in FY23: Goal to serve 1 bn Indians
Hemant Bakshi, a former top Unilever executive, to lead Ola Mobility as CEO, with an aggressive growth focus
 "Ola's mobility business made profit in FY23: Goal to serve 1 bn Indians")
US lenders take Byju's to NCLT to initiate insolvency proceedings
The lenders said this was done after over 16 months of efforts on behalf of the Ad Hoc Group to restructure the loans
 "US lenders take Byju's to NCLT to initiate insolvency proceedings")
Flipkart may let 1,000 employees go, Swiggy likely to lay off 400
Flipkart is intensifying its efforts to achieve profitability as it is eyeing a valuation of approximately $60 billion at the time of its initial public offering (IPO), now planned in 2025-2026
 "Flipkart may let 1,000 employees go, Swiggy likely to lay off 400")