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In a remarkable move that has garnered widespread praise, Meesho, the Indian e-commerce giant, has announced a nine-day paid holiday for its employees. This initiative, aptly named the “Reset and Recharge” break, is scheduled from October 26th to November 3rd, following the company’s highly successful Mega Blockbuster Sale. Meesho’s official LinkedIn post revealed the details of this generous break. The…
In a bold move that has sent ripples through Silicon Valley, Google has spent a staggering Rs 23,000 crore (approximately $2.7 billion) to reacquire Noam Shazeer, a former AI pioneer who left the company in 2021. This acquisition, which includes Shazeer’s startup Character.AI, has reignited the debate on overspending in the AI race. The Return of Noam Shazeer Noam Shazeer,…
In 2013, Facebook made headlines with its bold attempt to acquire Snapchat for a staggering $3 billion in cash. This move came just two years after Snapchat’s launch, as the app rapidly gained popularity among younger users for its unique disappearing messages and playful filters. Why Did Snapchat Reject Facebook’s Offer? Snapchat’s decision to reject Facebook’s offer was driven by…
Global accounting giant Deloitte has set an ambitious goal to quadruple its revenue from its India operations, aiming to reach $5 billion (approximately ₹40,000 crore) by 2030. This target underscores Deloitte’s commitment to becoming the undisputed leader in the professional services sector in India. Deloitte’s India business has already shown impressive growth, with revenue surpassing ₹10,000 crore in the fiscal…
Microsoft has acquired a 16.4-acre land parcel in Pune’s Hinjewadi area, a major IT hub, for a whopping Rs 520 crore. This acquisition is part of Microsoft’s broader strategy to strengthen its infrastructure and support its growing operations in the country. The Details of the Acquisition Microsoft’s Indian subsidiary, Microsoft Corporation (India) Private Limited, completed the purchase of 66,414.5 square…
The Adani Group has recently confirmed plans to establish a mega semiconductor plant in Maharashtra, marking a significant milestone in India’s technological advancement. This ambitious project, valued at approximately ₹83,950 crore ($10 billion), is set to be developed in collaboration with Israel’s Tower Semiconductor. The plant will be located in Taloja, Panvel, and is expected to produce 80,000 wafers per…
The Supreme Court of India has directed the Sahara Group to provide comprehensive details about its current executives, shareholders, and unencumbered properties. This directive aims to facilitate the sale of assets to raise ₹10,000 crore, which will be deposited into the SEBI-Sahara refund account for returning investors’ money. Background of the Case The Sahara Group has been under scrutiny since…
On August 23, 2024, the Securities and Exchange Board of India (SEBI) imposed a five-year ban on Anil Ambani, one of India’s most prominent businessmen, from participating in the securities market. This decision came as a result of serious allegations of fund diversion involving Reliance Home Finance Limited (RHFL), a company under the Reliance Anil Dhirubhai Ambani Group (ADAG). The…
In a significant move to expand its service offerings, Zomato has announced the acquisition of Paytm’s movie and events ticketing business for ₹2,048 crore. This acquisition marks a strategic shift for Zomato, aiming to diversify its portfolio and strengthen its position in the entertainment sector. The Deal Details Zomato’s acquisition includes Paytm’s movie ticketing platform, Paytm Insider, and its sports…
In a landmark development, Infosys has secured a substantial role in the $1 billion cloud migration deal between tech giant Microsoft and beverage leader Coca-Cola. This partnership is set to bring in over $100 million in revenue for Infosys, underscoring the company’s pivotal role in the global IT services landscape. Earlier this year, Coca-Cola announced a strategic partnership with Microsoft…