Out Of 100 India’s Unicorns, Only 18 Have Yielded Profit
Google-backed neobank Open became the 100th unicorn of India with a $1 billion valuation. There are a total of 100 unicorns in India, including Mamaearth, EaseMyTrip, Ola, and Flipkart to name a few. But how many of these are profitable? According to the statistics from the media portal, only 18 unicorns have achieved profitability. Reports…
John David
Federal Reserve Imposed Highest Interest Rate Hike Since 1994
On Wednesday, the Federal Reserve increased the interest rates considering the rising inflation in the United States. It is the highest rate hike by the Fed since 1994. After a Federal officials meeting of two days, the central bank raised interest rates by 75 basis points. This move will help boost the Federal Funds rate…
Shipra Prajapati
Adani, TotalEnergies Joins Hands To Invest In Green Hydrogen
Adani New Industry Ltd (ANIL) teamed up with TotalEnergies to invest $50 billion in green hydrogen, the deal was announced on Tuesday. French giant TotalEngeries will buy a quarter of the equity in ANIL, part of Adani’s eponymous group. The company will invest a set amount for a period of over ten years. With this…
Yash Sharma
Chipmaker Broadcom In Talks To Acquire Cloud Company VMware
Chipmaker Broadcom is in talks to buy the cloud service provider VMware in a $61 billion cash-and-stock deal, according to the people familiar with the matter. If it is done, it would be the biggest and boldest bid that will diversify its business into enterprise software. This will be the second-biggest acquisition globally so far…
Abdullah Ansari
How To Build An Effective Startup Team For Ultimate Result?
Assembling the right startup team is vital and if effectively done you won half the battle. Investors are not only interested in your pitch, but they are also willing to evaluate the dynamics of your team. Startup founders should prioritise quality over quantity because part of their job is to communicate with others who match…
Vipin Kumar
Revlon Is To File For Bankruptcy Amid Heavy Debt Load
New York-based Revlon, owned by billionaire Ron Perelman’s MacAndrews & Forbes, is preparing to file for Chapter 11 bankruptcy amid a heavy debt load, according to the people aware of this matter. However, the potential filing is not final yet and could change. Revlon’s shares plunged 53%, the biggest one-day drop on record, on Friday…
Telcos And Tech Firms Are Clashing On 5G Private Networks
The clash between India’s leading telecoms and the forum of tech companies (Broadband India Forum) has stepped up on the issue of direct 5G spectrum allocation to corporations. Tech corporations have discarded a significant claim of telecom companies that the start of private 5G networks would swindle the precious enterprise service revenues and destroy the…
IMF Appoints Krishna Srinivasan As Director Of APD
Kristalina Georgieva, Managing Director, International Monetary Fund reported the appointment of Krishna Srinivasan as Director of the Asia and Pacific Department. Mr Srinivasan will take charge from June 22. As per an IMF statement, Mr Srinivasan will replace Changyong Rhee who is all set to retire and his retirement was announced on March 23. In…
RBI’s MPC Meeting Update – Repo Rate Hiked By 50 bps
The Reserve Bank Of India (RBI) has increased the repo rate by 50 basis points to 4.90%. The decision has been made after Monetary Policy Committee’s meeting on Wednesday. RBI’s decision is not a stunner as many polls and economists were expecting a 40 basis point hike. RBI has reduced the repo rate in March…
Zomato Board Likely To Sign Blinkit Deal Next Week
The board members of food tech giant Zomato will meet on June 17 to sign off the acquisition of the quick-commerce platform Blinkit (formally known as Grofers). Before this, in August 2021, Zomato invested around $100 million into Blinkit and revealed its plan to invest a total of $400 million. At that time, Zomato earned…
