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Sequoia Capital Planning Its Exit From Noida Based Pine Labs
28Aug By PriyankaNo Comments
BUSINESS

Sequoia Capital Planning Its Exit From Noida Based Pine Labs

American venture capital firm Sequoia Capital is exploring the options to sell out its portfolio company Pine Labs, one of the country's largest PoS (point of sale) solutions provider. According to the sources reported to ET, Sequoia Capital, who presently owns two-third of this Noida based startup, is targeting a valuation of about $1 billion for it to completely exit the company. In case, such valuation demands are not met, the Menlo Park-based Powerhouse is also considering a partial stake sale in the company in which it had initially invested $1 million in 2009. Avendus Capital has been given the mandate to raise $100 million for a minority stake. "The formal mandate that is ongoing is for a stake sale. Currently , the company is being valued at $600-700 million by peers but ...
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Dara Khosrowshahi, Chief Executive Of Expedia To Be Uber’s New Chief Executive
28Aug By reutersNo Comments
BUSINESS, News

Dara Khosrowshahi, Chief Executive Of Expedia To Be Uber’s New Chief Executive

Uber Technologies Inc on Sunday chose Dara Khosrowshahi, the chief executive of travel company Expedia Inc, as its chief executive, according to two sources with knowledge of the matter, handing him the challenge of leading the ride-services company out of a nearly year-long crisis. Khosrowshahi, 48, would take on the daunting task of mending Uber’s image, repairing frayed relations among investors, rebuilding employee morale and creating a profitable business after seven years of losses. He would also have to contend with the legacy of Travis Kalanick, Uber’s pugnacious co-founder, who was ousted as CEO in June after shareholders representing about 40 percent of the company’s voting power signed a letter asking him to step down amid growing concern over his behavior and the behavior...
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Matrimony.com To Go Public And Launch 500 Cr IPO In September
25Aug By RishabhNo Comments
BUSINESS

Matrimony.com To Go Public And Launch 500 Cr IPO In September

Popular matchmaking site BharatMatrimony.com parent company, Matrimony.com Ltd, plans to go public in the first half of September, said three people aware of the matter. The company operates several portals, such as BharatMatrimony.com, CommunityMatrimony.com, and EliteMatrimony.com. (more…)
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RBI To Issue Rs 200 Notes: FinMin
23Aug By Press Trust of IndiaNo Comments
BUSINESS, INDIA

RBI To Issue Rs 200 Notes: FinMin

The government today gave its go-ahead to the Reserve Bank to issue Rs 200 notes that will ease pressure on lower-denomination currency bills. The finance ministry, in a notification, said that on the recommendations of the Central Board of Directors of the RBI, "the central government hereby specifies the denomination of banknotes of the value of two hundred rupees". The new Rs 200 notes are likely to be in circulation shortly. According to sources, the exercise of printing Rs 200 denomination notes is being undertaken to further improve the currency situation in the country. Following the demonetisation on November 9 last year, the Reserve Bank had introduced Rs 2,000 notes and also issued a new Rs 500 notes with additional security features. ALSO READ   Alibaba...
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MD And CEO Of Infosys Vishal Sikka Resigned From His Post
18Aug By RishabhNo Comments
BUSINESS, News

MD And CEO Of Infosys Vishal Sikka Resigned From His Post

Managing Director and CEO of Infosys, Vishal Sikka has resigned from his post this Friday morning and the Board has accepted his resignation with immediate effect. This move of Vishal was under the growing acrimony between the board and its founders led by NR Narayana Murthy. UB Pravin Rao, the Chief Operating Officer will be the interim MD and CEO. Infosys shares plunged as much as 12.8 per cent today after the announcement. Vishal Sikka had taken over the reins of Infosys back in June of 2014, and has been working ever since. Sikka would now continue as Executive Vice-chairman. An Infosys statement said in his new role Sikka would continue to focus on strategic initiatives, key customer relationships and technology development. He will report to the company’s board and receive a...
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Uber Faces Conflicts Over A Lawsuit Filed By Benchmark Capital
12Aug By reutersNo Comments
BUSINESS, News

Uber Faces Conflicts Over A Lawsuit Filed By Benchmark Capital

Ride-services company Uber is facing a divided board of directors and angry shareholders after investor Benchmark Capital filed a lawsuit against the company's ousted chief executive, Travis Kalanick, dealing another blow to the firm as it struggles to recover from a series of scandals and hire a new leader. On Friday morning, three Uber investors asked Benchmark to divest its shares and step down from Uber Technologies Inc's board, according to an email published by news website Axios. Also on Friday, members of the board of directors sent an email to Uber staff expressing dismay over the Benchmark lawsuit, according to a copy of the note obtained by Reuters. "The Board of Directors is disappointed that a disagreement between shareholders has resulted in litigation," the directors ...
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Amazon Plans To Enter Event Ticketing In US
11Aug By reutersNo Comments
BUSINESS

Amazon Plans To Enter Event Ticketing In US

Amazon.com Inc is seeking to partner with U.S. venue owners to sell event tickets, four sources have told Reuters, a move that could loosen Ticketmaster’s powerful grip on the lucrative ticketing business. (more…)
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