Tiger Global-backed Koo, an Indian social media app once positioned as a competitor to X (formerly Twitter), is shutting down. Founder Aprameya Radhakrishna revealed this development in a LinkedIn post. The decision follows unsuccessful negotiations for a potential sale or merger with several companies, including DailyHunt, according to sources familiar with the situation.
Creator marketplace and talent management firm Collective Artists Network has bought Terribly Tiny Tales for an undisclosed sum, stating that the acquisition of the storytelling platform aligns with its strategy to evolve into a new media company. Founded by Anuj Gosalia in 2013 as a flash-fiction platform on Facebook, Terribly Tiny Tales hosts content across … Read more
Bengaluru: IPO-bound e-commerce enablement company Unicommerce will continue prioritizing profitability after its listing, according to chief executive Kapil Makhija. Unicommerce’s growth strategy revolves around three pillars: domestic expansion, international expansion, and new product launches, Makhija said. “Profitability is a key ethos, so we continue to be profitable and that as an ethos is not going … Read more
Reliance Jio and Airtel have increased the prices of their data packs for several plans. This price hike, which takes effect from today (July 3), impacts prepaid and postpaid users, potentially affecting millions of subscribers. Despite the hike, both telecom giants will continue to offer their monthly, quarterly, and annual plans. Also Read | Latest … Read more
One 97 Communications Limited (OCL) that owns the Paytm brand, has announced the launch of ‘Paytm Health Saathi’, an exclusive health and income protection plan for its merchant partners, available on the ‘Paytm for Business’ app. This initiative is part of Paytm’s ongoing efforts to support its vast network of merchant partners by providing them … Read more
Bengaluru/Mumbai: Private equity major Lighthouse Funds is looking to exit its six-year-old bet in footwear maker Aqualite Industries, and it has already started early talks with prospective investors, two people familiar with the matter told Mint. Lighthouse—that had invested ₹250 crore in 2018 from its third fund—for a minority stake (16.4%) in the company, is … Read more
Apple will get an observer role on OpenAI’s board as part of a landmark AI agreement announced last month, Bloomberg News reported on Tuesday. Phil Schiller, the head of Apple’s App Store and its former marketing chief, was chosen for the position, the report said. The board arrangement will take effect later this year, and … Read more
MUMBAI : Temasek, the private equity (PE) arm of the Singapore government, is the front runner to acquire significant minority stake in Tynor Orthotics, a Mohali, Punjab-based medical equipment maker, according to three people with knowledge of the development. The manufacturer and exporter of orthopaedic and fracture aids, which is backed by consumer-focused PE firm … Read more
Boeing Co. may deliver sharply fewer aircraft to Indian airlines next year as it slows production, while Pratt & Whitney (P&W) continues to inspect hundreds of engines on Airbus neos, industry executives said. The result: While Air India Express and Akasa Air can’t get their hands on promised Boeing Max planes, market leader IndiGo awaits … Read more
The name didn’t stick—on phone calls “Cadabra” was too easily confused with “cadaver”—but the ambition did. Amazon, which turns 30 on July 5th, has indeed changed the world of online shopping. This year its websites will sell an estimated $554bn-worth of goods in America, reckons JPMorgan Chase, a bank. That gives it a 42% share … Read more
(Bloomberg) — London’s home rental crisis showed early signs of easing after a surge in available properties led to the joint-smallest increase in advertised rents across Britain. The online property portal Rightmove said rents in the capital rose 4% from a year ago in May. The average remained at eye-watering level of £2,652 ($3,355) a … Read more
(Bloomberg) — The US Federal Trade Commission will sue to block Tempur Sealy International Inc.’s $4 billion proposed deal with Mattress Firm Inc. The agency on Tuesday announced that it had unanimously voted to bring a lawsuit to stop the merger, which it said would give the combined company “the ability and incentive to suppress … Read more