Cathie Wood's ARK buys a million Twitter shares after Jack Dorsey’s exit

Cathie Wood’s ARK Investment Management acquired 1.1 million Twitter shares worth $48.9 million at Tuesday's closing price of $43.94, according to the firm's daily trade report.

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What Parag Agrawal as Twitter CEO means for India

A lot more needs to be done, especially with regard to Twitter in India where the world's largest microblogging platform has been at loggerheads with the Narendra Modi government over what constitutes free speech.

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Parag Agrawal takes charge of Twitter at a critical juncture

India-born Parag Agarwal’s ascension to the top post at Twitter could stoke greater adoption of local innovation and calm regulatory turbulence faced by the microblogging platform in key markets such as India, experts say.

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What awaits Twitter's new CEO; Zomato's 'Wings' for restaurants

In his new role as Twitter CEO, Parag Agrawal won’t just need to keep growing the microblogging platfrom's business, but also inherit its political scuffles.

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Zomato launches Zomato Wings to help restaurants secure funding

The initiative comes when there has been limited investor capital inflow into restaurants and cloud kitchens over the last few years, Zomato’s cofounder and CEO Deepinder Goyal says in a blog post.

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Skilling app Kidvento raises pre-series A funding of $1 million

Kidvento, which provides skilling curriculum for kids through live and recorded classes, said it would utilise this fund to strengthen the content, delivery and to gain more momentum.

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InstaAstro raises Rs 3 crore from Artha Venture Fund, others

The company will utilise the funds for product development, marketing and add a gamut of services, InstaAstro said in a statement.

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Britain directs Facebook parent Meta to sell GIF maker Giphy

The Competition and Markers Authority (CMA) said the decision was in line with provisional findings that Facebook's acquisition of Giphy would reduce competition between social media platforms and in the display advertising market.

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Adda247 raises $20 million in funding round led by WestBridge Capital

Adda247, an edtech startup that offers courses for government examinations, will use the funding from WestBridge Capital to strengthen its technology as well as for hiring in senior roles.

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Swiggy’s Instamart now has over two million transacting users

Instamart specialises in grocery deliveries in 15-30 minutes. The pilot service was launched in August last year in Gurugram and Bengaluru. It has since expanded to 17 cities, amid a push to scale up this business vertical.

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SoftBank-backed Snapdeal targets $250 million India IPO in 2022

Snapdeal, founded in 2010, had emerged as one of the country’s leading e-commerce providers, but lost ground to its larger rivals. In 2017, it backed away from a potential merger with Flipkart that would have united the two local-e-commerce companies against Amazon, a deal that SoftBank had been pushing for.

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Twitter reacts to Parag Agrawal's appointment as CEO

Thousands of users also expressed pride in how people of Indian origin were now leading some of the largest tech companies in the world, posting collages of photos of Agrawal along with Microsoft CEO Satya Nadella, Google’s Sunder Pichai and IBM’s Shantanu Narayen.

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‘Omicron’, the cryptocurrency, rides new Covid variant rollercoaster

The price of the hitherto-obscure digital token, whose Twitter feed has little more than 1,000 followers, rose almost ten-fold from Friday to Monday morning when it hit $688, before tumbling as much as 75%.

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What happens on the internet in a minute

Every minute on the internet, six million people are shopping online, while 57,500 tweets are being sent and 65,000 photos are being shared.

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Parag Agrawal joins growing list of Indian-origin CEOs leading US firms

Parag Agrawal’s ascension at Twitter follows that of Sundar Pichai at Alphabet, Satya Nadella at Microsoft, Arvind Krishna at IBM, Shantanu Narayen at Adobe, and Ajay Banga at Mastercard.

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Brazil's Nubank said to weigh a reduction in IPO valuation

Nubank had earlier this month said it aimed to raise nearly $3 billion at a valuation of more than $50 billion. That’s $12 billion more than the market cap of Brazil’s largest bank Unibanco Holding SA.

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Twitter missed out on Big Tech rally during Jack Dorsey’s era

A 75% gain for Twitter during Jack Dorsey’s seven-year tenure as CEO lags far behind the triple-digit gains posted by Apple (450%), Amazon (580%) and Alphabet (345%) over the same time period.

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Trolls dig up his decade-old tweet on 'white people' to target Twitter's new CEO Parag Agrawal

But Agrawal himself clarified in the thread that he was only quoting the comedian Aasif Mandvi who had said something on these lines on the Daily Show.

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Jack Dorsey’s journey from microblogging pioneer to billionaire

Jack Dorsey has stepped down as the CEO of Twitter, the social media firm he helped found in 2006 and steered through a high-profile hack and controversial banning of former US President Donald Trump.

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Zoho enters 'booming' e-learning space with TrainerCentral

Zoho has launched TrainerCentral to offer a collaborative e-learning platform to tap into the booming e-learning market.

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Who is Parag Agrawal, Twitter's new CEO?

Twitter has promoted CTO Parag Agrawal to replace CEO Jack Dorsey, joining the likes of Apple, Amazon and Alphabet in tapping a company insider for the top job. Here are some facts about him.

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The challenges that await Twitter's new CEO Parag Agrawal

Parag Agrawal may not ever cut as public a profile as his predecessor Jack Dorsey, but as Twitter’s CEO he won’t just need to keep growing the business but also navigate a number of thorny political issues—from the US to India.

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India-born Parag Agrawal Is Twitter CEO; RBI's crypto moves

In a surprise move, Jack Dorsey said on Monday that he was stepping down from Twitter and handing over the reins of the company he cofounded to India-origin Parag Agrawal.

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Tata-owned 1mg, PharmEasy go offline for omnichannel presence

Tata-owned 1mg is set to open its first physical store in Gurugram next month while rival PharmEasy has started to expand across the offline channel through franchise stores.

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Bessemer Venture Partners raises $220 million India-focused fund

Bessemer Venture Partners, one of the oldest early-stage investors in the region, has for the first time raised a dedicated India-focused fund of $220 million. The company first started investing in India 15 years back.

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Silicon Valley crypto fund Draper Dragon eyes India debut

Draper Dragon Fund, an early backer of Nasdaq-listed crypto exchange Coinbase Global, is likely to invest $75-100 million in Indian blockchain and crypto startups.

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Govt clears stand on Bitcoin; Jack Dorsey said to exit Twitter

As the winter session of Parliament begins, Finance Minister Nirmala Sitharaman said that the government has no proposal to recognise Bitcoin as a currency.

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Wipro CEO says allocated a third of total workforce on cloud deals

Wipro employs more than 80,000 cloud professionals, and more than 10,000 of our colleagues are now certified by leading cloud-service providers, CEO Thierry Delaporte says.

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India has no plans to recognise Bitcoin as currency: Nirmala Sitharaman

The central government doesn’t collect data on Bitcoin transactions, Finance MInister Nirmala Sitharaman says in Lok Sabha, in response to a question on whether the Centre was aware of the surge in crypto trading in India.

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Ather Energy to set up its second plant at Hosur, Tamil Nadu

Once commissioned in 2022, the new facility will expand Ather Energy’s manufacturing capacity to 4 lakh vehicles per year from 1.20 lakh units at present. The new plant will also focus on lithium-ion batteries.

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Australia challenges Facebook to back anti-troll defamation law

Facebook will show it has no interest in making the online world safe if it quits Australia over laws holding it liable for defamation on its platforms, Prime Minister Scott Morrison says.

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Fintech startup slice turns unicorn after raising $220 mn led by Tiger Global, Insight Partners

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upGrad makes first overseas deal, snaps up Australian Global Study Partners

​​ upGrad, which has been growing through acquisitions and has earmarked an M&A war chest of $250 million, has entered into an acquisition agreement to buy 100% of GSP for AUD 16 million with a commitment of a further AUD 10 million in future

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No proposal to recognise Bitcoin as a currency: FM Sitharaman

The government has no proposal to recognise Bitcoin as a currency in the country, Finance Minister Nirmala Sitharaman said in a reply to the Lok Sabha on Monday.

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US Commerce Chief to pitch for $52 bn to expand US chip manufacuring

US Commerce Secretary Gina Raimondo will make a pitch in Michigan for Congress to approve $52 billion to expand US semiconductor manufacturing even as it continues to review data on chips market.

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Driving Diversity - How PhonePe is building an inclusive leadership team

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CoinDCX plans to pursue IPO as soon as India regulations are in place

India’s first cryptocurrency unicorn, CoinDCX, plans to pursue an initial public offering (IPO) as soon as government regulations allow it, cofounder Neeraj Khandelwal says.

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In conversation with Raj Mamodia: The Founder & CEO of Brillio

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Vulcan to supply CO2-free lithium to Stellantis from Germany

Vulcan is one of a number of companies testing a direct lithium extraction method that uses less land and groundwater. Lithium is a core component for making lithium-ion batteries used in electric vehicles.

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Nissan to spend $17.6 billion to accelerate electric-vehicle drive

Nissan Motor will introduce 23 electrified vehicles by 2030, including 15 electric vehicles, and plans to introduce all solid-state batteries by March 2029, according to a statement released on Monday.

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Facebook-Giphy deal set to be blocked by UK regulator

The United Kingdom’s Competition and Markets Authority is set to reverse the Facebook-Giphy deal in what would be the first time the regulator has reversed a Big Tech acquisition, Financial Times reported.

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Paytm share price falls 4.6% as net loss widens in Q2 on higher expense

Paytm raised $2.5 billion in India's biggest IPO earlier this month but made a dismal debut on the stock exchanges. Its net loss widened in the September quarter due to higher expenses but revenue rose 63.6%.

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Clearlake Capital to buy Quest Software from Francisco Partners

Quest Software was part of Dell's software division, which the company divested in 2016 to focus on its technology portfolio and bolster its balance sheet after it agreed in October to buy data storage company EMC for $67 billion.

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Cars24 zooms to $3B valuation; Behind the Paytm IPO debacle

We’d leave the year-end musings for a later edition of the newsletter but for now, we have a mix of scooplets, exclusives, and a deep dive into Paytm’s IPO to charge you up for a brand new week.

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RBI-backed CBDC likely to feature in crypto bill: official

Terming the Centre’s bill as a response to the central bank’s concerns about macro-economic stability, the official said the “government’s response is not to ban cryptocurrencies but rather to provide cryptocurrency via the RBI.”

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Cars24 may hit $3 billion valuation in new funding round

Cars24 is considering a secondary share sale as part of the round, but it hasn’t been finalised yet.

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Slice turns unicorn after raising $220 million from Tiger Global, Insight Partners

Post this funding, the Bengaluru-based startup is valued at over $1 billion—a five times increase since its previous funding round six months ago.

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Crypto exchanges see their new sign-ups dip amid uncertainty

Crypto exchanges have recorded a 15-50% drop in new sign-ups in November so far. They have also posted a dip in their monthly transactions after some investors squared off positions and adopted a “wait and watch” mode.

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TomTom working on mapping platform for emerging markets

A large part of the development is happening out of India, which has about a quarter of its total employee base.

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French gaming company Gameloft partners with WinZO

India accounts for 12%, or more than 150 million people, of Gameloft's downloads, but it accounts for only 0.6% of the company’s worldwide income, making it a high-potential yet underutilised market.

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