The company has also finalised a secondary transaction of around $100 million in which some existing investors, such as Infosys cofounder Nandan Nilekani's venture fund Fundamentum, Eight Roads Ventures and Bessemer Venture Partners will make a partial exit.
While some analysts have pointed out that margins would be impacted by factors such as salary hikes, higher subcontracting costs, an uptick in attrition, and higher recruitment costs for some companies including Infosys.
The investments from the Public Investment Fund and others will be used to upgrade infrastructure and help speed up deliveries, Noon founder Mohamed Alabbar said late on Sunday.
The company which leverages machine learning, analytics and automations to optimise e-commerce channels across supply chain, marketing and sales operations is further bolstering its tech leadership in India with additional key hires in software and product development.
The Chennai-based company which saw a churn through the pandemic owing to the lockdown and people working from home saw this as an opportunity with the economy opening up and employees keen to get back to working from office spaces.
The company's vice president of policy and global affairs, Nick Clegg, acknowledged that the company's platform can serve as a conduit for hate speech and disinformation.
Analysts said Zoom's stock would likely remain volatile until investors establish what the prospects of its business will be once the pandemic is over. This decreases the chances of another acquisition target accepting Zoom's shares as currency in the near term, they said.from Technology News, Latest Gadget Reviews, Gaming & Tech Videos | Times of India https://ift.tt/o3b1NzK
