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 its 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. There, he covered the entrepreneurship ecosystem, including startups, 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 its 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. There, he covered the entrepreneurship ecosystem, including startups, 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.
Page 67 - Peerzada Abrar/undefined
Flipkart's double-digit growth helps Walmart sales jump 13% at $26.8 bn
Walmart-owned fintech firm PhonePe saw its annualised total payments volume cross $1 trillion in Q1
 "Flipkart's double-digit growth helps Walmart sales jump 13% at $26.8 bn")
Swiggy's food delivery business turned profitable in March: CEO Majety
Rare for global food delivery platforms to achieve profitability in less than 9 years, he says
 "Swiggy's food delivery business turned profitable in March: CEO Majety")
Walmart-owned Flipkart sees two top-level exits, both after eight years
Early this year, Flipkart told staff it won't be handing out increments to senior leadership in a 'difficult decision' that was expected to impact 4,500 personnel
 "Walmart-owned Flipkart sees two top-level exits, both after eight years")
Ronnie Screwvala-led edtech unicorn upGrad records 10 mn enrolled learners
upGrad is evolving to become Asia's largest integrated learning, skilling, and workforce development and placement company
 "Ronnie Screwvala-led edtech unicorn upGrad records 10 mn enrolled learners")
US investor Baron Capital slashes Swiggy's valuation by 34% to $7.1 bn
In January last year, Swiggy raised $700 million in a funding round that was led by Invesco and saw participation from a host of investors including Baron Capital Group
 "US investor Baron Capital slashes Swiggy's valuation by 34% to $7.1 bn")
ZestMoney sets up new leadership team, a day after founders resign
ZestMoney's founders have resigned, several weeks after fintech giant PhonePe decided to halt its proposed acquisition of the buy now, pay later (BNPL) platform
 "ZestMoney sets up new leadership team, a day after founders resign")
Hike in Amazon seller fee likely to reduce discounts for customers
Other e-comm players such as Flipkart, JioMart, and BigBasket may follow suit
 "Hike in Amazon seller fee likely to reduce discounts for customers")
ZestMoney founders resign weeks after PhonePe calls off to acquisition
In April, ZestMoney laid off 100 employees, or about 20 per cent of its workforce
Amazon's venture fund leads Rs 110 crore in Indian innerwear maker XYXX
XYXX, a leading men's premium innerwear and lifestyle brand would use the funding to expand its business
 "Amazon's venture fund leads Rs 110 crore in Indian innerwear maker XYXX")
Outgoing Puma India chief Abhishek Ganguly's new venture raises Rs 430 cr
Agilitas Sports will be a solutions platform for sportswear and athleisure
 "Outgoing Puma India chief Abhishek Ganguly's new venture raises Rs 430 cr")
Apax Funds to buy stake in travel tech firm IBS Software from Blackstone
To acquire Blackstone's minority stake in the software-as-a-service solutions provider
 "Apax Funds to buy stake in travel tech firm IBS Software from Blackstone")
Janus Henderson marks down PharmEasy's valuation by half to $2.8 bn
Neuberger Berman, another US investor, earlier marked down valuation of shares it holds in online pharmacy's parent
 "Janus Henderson marks down PharmEasy's valuation by half to $2.8 bn")
Hyperlocal logistics firm Shadowfax to hire 10,000 delivery partners
Company's nationwide network serves major e-commerce, food, grocery and retail companies
 "Hyperlocal logistics firm Shadowfax to hire 10,000 delivery partners")
Ola Electric expanding fast, to cross 1,000 experience centres this year
As part of that strategy, the SoftBank-backed electric vehicle company on Saturday opened its 500th experience centre (EC) in Srinagar, Jammu & Kashmir
 "Ola Electric expanding fast, to cross 1,000 experience centres this year")
Byju's closes Rs 2,000-crore debt funding from Davidson Kempner Capital
This is part of $1 billion funding in a mix of equity and structured instruments
 "Byju's closes Rs 2,000-crore debt funding from Davidson Kempner Capital")
Pincode clocks 5,000 daily orders on ONDC within month of launch
E-commerce app of fintech platform PhonePe says after Bengaluru it will be in more cities
 "Pincode clocks 5,000 daily orders on ONDC within month of launch")
USA's Neuberger Berman slashes valuation of India's Pine Labs, PharmEasy
Fintech firm's valuation cut by 38% and online pharmacy's by 21% as start-up investors battle macroeconomic uncertainties
SoftBank offloads 2% stake worth $120 million in Paytm to meet SEBI rules
This was done in a series of open market transactions since Feb 2023 to comply with Sebi's takeover regulations
 "SoftBank offloads 2% stake worth $120 million in Paytm to meet SEBI rules")
Telangana recorded 40% rise in online orders in FY22: Unicommerce
The data also revealed that consumers from Telangana are shopping across various categories
 "Telangana recorded 40% rise in online orders in FY22: Unicommerce")
Electrification of Fleet: NITI sets FY31 target for Ola, Uber in green push
Ride-hailing company Uber has committed to 100% of rides taking place in zero-emission vehicles, on public transit, or with micro-mobility by 2040
 "Electrification of Fleet: NITI sets FY31 target for Ola, Uber in green push")