 "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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Byju's-owned Great Learning likely to cross Rs 1,000 crore revenue in FY23
The firm is expanding in regions such as India, North America, Latin America, Africa, and Southeast Asia and is also planning to acquire various companies in these markets
 "Byju's-owned Great Learning likely to cross Rs 1,000 crore revenue in FY23")
'Difficult decision': Amazon CEO says more layoffs will happen in 2023
Andy Jassy's memo does not say how many people would be impacted as company reviews business plans
 "'Difficult decision': Amazon CEO says more layoffs will happen in 2023")
India not immune to impact of macro-economic environment: Flipkart CEO
Kalyan Krishnamurthy expects the fallout of the global macro environment next year in areas such as company valuations and the funding environment as well
 "India not immune to impact of macro-economic environment: Flipkart CEO")
India to be a semiconductor manufacturing hub: Rajeev Chandrasekhar
Chandrasekhar said India is well positioned to emerge as a major player in electronics and semiconductor products manufacturing as part of the 'China Plus One' diversification strategy
 "India to be a semiconductor manufacturing hub: Rajeev Chandrasekhar")
2022 e-commerce festival sales almost 2x of 2019: Redseer report
This is about 25 per cent year-over-year growth as compared to festive sale month of CY2021
 "2022 e-commerce festival sales almost 2x of 2019: Redseer report")
Layoffs are part of annual operating planning review process: Amazon
Sources say attempts being made to absorb staff in other units
 "Layoffs are part of annual operating planning review process: Amazon")
Future of technology going to be driven by India: UAE's AI minister
Though technology is driven from places such as Bengaluru, Al Olama said it is coming from the rest of the world as well
 "Future of technology going to be driven by India: UAE's AI minister")
Indian startups need to deliver good profits in 3-5 yrs: Accel's Prakash
The top venture capitalist also predicted that at least 25 Indian unicorns will go for IPO in the next 3-5 years
 "Indian startups need to deliver good profits in 3-5 yrs: Accel's Prakash")
Indian IT industry to hire 200,000 people in near term: Kris Gopalakrishnan
'Ups and downs' in global economy will not impact Indian industry for long, he says
 "Indian IT industry to hire 200,000 people in near term: Kris Gopalakrishnan")
India has democratised technology to fight poverty, says PM Modi
New demographic joining information superhighway, he says at Bengaluru Tech Summit
 "India has democratised technology to fight poverty, says PM Modi")
As Uber, Ola continue tussle with state govts, cabbies try different route
Ride-hailing giants Ola and Uber are challenging order by States to ban autorickshaw rides through companies' apps; in the meanwhile alternative government-backed taxi/auto aggregators are coming up
 "As Uber, Ola continue tussle with state govts, cabbies try different route")
Ronnie Screwvala-led upGrad to hire 1,400 amid edtech sector turbulence
Signs up new leases for 335K sq ft space in Mumbai, Bengaluru, Pune and Noida
 "Ronnie Screwvala-led upGrad to hire 1,400 amid edtech sector turbulence")
Amazon woos Indian exporters to sell products on Black Friday sale event
US e-commerce giant cuts subscription fee for new exporters joining Global Selling programme
 "Amazon woos Indian exporters to sell products on Black Friday sale event")
PhysicsWallah's revenue rises to Rs 232.48 cr, net profit surges 14 times
The company has reported a profit at a time when top tech unicorns, especially edtech firms are incurring steep losses and are laying-off employees
 "PhysicsWallah's revenue rises to Rs 232.48 cr, net profit surges 14 times")
Top Indian unicorn founders, venture capitalists back Green Startup Pledge
World's first climate pledge for startups is backed by India's leading VC funds and supported by entrepreneurs including Nithin Kamath, Deepinder Goyal and Bhavish Aggarwal
 "Top Indian unicorn founders, venture capitalists back Green Startup Pledge")
Ola shuts in-car infotainment service launched in 2016 as global first
Industry sources say the service was not proving any value to the ride-hailing company
 "Ola shuts in-car infotainment service launched in 2016 as global first")
Amagi's valuation crosses $1.4 bn amid funding woes, raises $100 mn
The media technology provider has raised over $100 mn in investment, inclusive of $80 million in primary capital, from global growth equity firm General Atlantic
 "Amagi's valuation crosses $1.4 bn amid funding woes, raises $100 mn")
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%")