 "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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Truly sorry to those who'll have to leave Byju's, says Raveendran to staff
The edtech giant has to sever 2,500 employees to avoid role duplication across businesses, says founder in a letter to employees
 "Truly sorry to those who'll have to leave Byju's, says Raveendran to staff")
No plans to exit Kerala, will hire around 600 people, says Byju's
The total number of Byju's centres across the state will be 14, while no. of employees will increase from 3,000 to 3,600
 "No plans to exit Kerala, will hire around 600 people, says Byju's")
Flipkart's loss widens 51% to Rs 4,362 cr in FY22 on 36% spike in expenses
The company generated revenue from various sources, such as marketplace, collection, logistics, storage, and advertisements
 "Flipkart's loss widens 51% to Rs 4,362 cr in FY22 on 36% spike in expenses")
Udaan raises $120 mn amid funding winter; plans IPO in 12-18 months
Business-to-business e-commerce firm raises capital from existing investor, was valued at $3.1 billion in January 2021
 "Udaan raises $120 mn amid funding winter; plans IPO in 12-18 months")
Swiggy denies exodus of restaurants amid deep discounting concerns
Amid reports about hundreds of restaurants delisting from Swiggy Dineout, sources said only 20 brands with nearly 400 outlets have delisted from Swiggy's dining out platform
 "Swiggy denies exodus of restaurants amid deep discounting concerns")
Byju's takes Rs 300 crore unsecured loan from Aakash for 'principal biz'
The loan was granted at an interest rate of 7.5 per cent per annum, according to the filing
Byju's employees meet Kerala minister after 170 staff are 'asked to resign'
Byju's booked a loss of Rs 4,588 crore for the financial year ended March 31, 2021, 19 times more than the preceding year, according to its latest financial report
 "Byju's employees meet Kerala minister after 170 staff are 'asked to resign'")
Pine Labs sees huge demand for its buy-now-pay-later service in hinterlands
The fintech unicorn expects to process BNPL transactions worth Rs 5,000 crore this month as an increasing number of customers in small towns are buying products on EMI this festive season
 "Pine Labs sees huge demand for its buy-now-pay-later service in hinterlands")
E-commerce firms give airlines a miss, ship Diwali parcels by road, rail
This comes on the back of tie-ups between e-commerce companies and Indian Railways, and expansion of fulfillment centres which has enabled increased storage and quicker deliveries
 "E-commerce firms give airlines a miss, ship Diwali parcels by road, rail")
We are not here to have a nice time: CEO Aggarwal about Ola's work culture
The yardstick at which the firm would like to be judged is the impact it is creating, said Ola CEO
 "We are not here to have a nice time: CEO Aggarwal about Ola's work culture")
Byju's to raise $600 mn, in talks with Abu Dhabi's sovereign wealth funds
The firm also plans to hire 10,000 teachers in the next six months, adding to the current strength of 20,000 teachers
Ola Electric unveils S1 Air scooter at an introductory price of Rs 79,999
Ola said this is a big push towards taking India closer to ending the era of petrol vehicles
 "Ola Electric unveils S1 Air scooter at an introductory price of Rs 79,999")
PhonePe in talks to raise $700 million at $12 billion valuation
Digital payments firm seeking investors' support to scale up operations and compete with rivals
 "PhonePe in talks to raise $700 million at $12 billion valuation")
From layoffs to cost-cutting, start-ups brace for long funding winter
Favourite haunts of start-up community in Bengaluru and Gurugram reflect the sombre mood
 "From layoffs to cost-cutting, start-ups brace for long funding winter")
Walmart's PhonePe investing $200 mn to set up data centres in India
The Bengaluru-based firm is setting up data centres in India at a time when it has completed three steps to move its domicile to India
 "Walmart's PhonePe investing $200 mn to set up data centres in India")
Great Indian Festival turning out to be Amazon's biggest-ever event: Tiwary
'Over 4.75 lakh MSMEs benefited from the Amazon Business platform during the festival'
 "Great Indian Festival turning out to be Amazon's biggest-ever event: Tiwary")
Amazon witnesses biggest ever festive sale in India, says top exec
More than 80 per cent of the new customers came from smaller towns for the e-commerce giant's month-long festive sale event Great India Festival which would end on October 23
 "Amazon witnesses biggest ever festive sale in India, says top exec")
Byju's raises $250 mn from existing investors, valuation remains at $22 bn
Regardless of the adverse macroeconomic conditions, Byju's founder Byju Raveendran said 2022-23 is set to be the best year in terms of revenue, growth and profitability
Avataar Venture Partners launches new fund, with a target size of $350 mn
Avataar Venture Partners said the launch of the new fund highlights the huge market opportunity in business-to-business (B2B) tech and SaaS sectors which have been resilient through the funding winter
 "Avataar Venture Partners launches new fund, with a target size of $350 mn")
Start-ups tap venture debt to stay afloat amid funding winter, say experts
The venture debt market is becoming popular within the start-up ecosystem with a lot of new funds coming up and limited partners also showing their interest in financing such investments
 "Start-ups tap venture debt to stay afloat amid funding winter, say experts")