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Financial World Legend Charlie Munger Passes Away at 99

29Nov By AdityaNo Comments

News

Financial World Legend Charlie Munger Passes Away at 99

29th November, 2023: Charlie Munger, a renowned figure known for his close association with the celebrated American investor Warren Buffett, sadly passed away at the age of 99 on Tuesday. Having spent nearly six decades as Buffett's confidant and business partner, Munger played a pivotal role in the remarkable transformation of Berkshire Hathaway Inc. from a struggling textile manufacturer to an influential global empire. Charlie Munger's family has shared the news of his peaceful passing on Tuesday at a California hospital. Berkshire Hathaway expressed their mourning in a press release, acknowledging the significant impact Munger had on the company's trajectory. Warren Buffett, CEO of Berkshire Hathaway, deeply recognized Munger's inspiration, wisdom, and unwavering commitment to the o...

Rajan Anandan Quit Google, Joined Sequoia Capital

2Apr By NitishNo Comments

News

Rajan Anandan Quit Google, Joined Sequoia Capital

Google's Vice President for South East Asia and India, Rajan Anandan quits Google India to join Sequoia Capital India as a Managing Director. Serving at Google for 8 years, Rajan now move to Sequoia India where he will focus on developing "Surge" into the world's top scale-up programme for startups, said Shailendra J. Singh, Managing Director at Sequoia. Rajan will join the leadership team at the firm, in addition to the six current Managing Directors. Anandan will continue at Google till the end of April and Vikas Agnihotri, Country Director, Sales will take on the responsibility in the interim for Google India, the company said in a statement on Tuesday. After news break, Anandan tweets, 8 amazing years. 850million internet users across India and SEA. Many billions of r...

27Aug By Gauri SinghNo Comments

FUNDING

Rooter Raises Rs 4.5 Crore in Series A Funding

Sports social gaming platform Rooter has raised funds amounting to Rs 4.5 crore in Series A funding round from a group of investors of integrated incubator platform Venture Catalysts. The company is planning to use these funds in the expansion of its reach and appeal and establish itself on an international stage. The company is basically aiming at global expansion. “This is a precursor to a big Series A round, which we are going to raise on November 12 when we will pitch in front of over 50 investors at the Adidas family-backed 2018 leAD Sports Accelerator Program,” said Piyush, CEO and co-founder at Rooter. The investors that participated in the particular funding round included Khalid Al Tawil, Anjali Malhotra from Aviva, Pranay Nigotiya, Vishal Agarwal, Nishil Agarwal, Tharun ...

Delivery Platform Daily Ninja Raises $3 Mn

14Jun By Gauri SinghNo Comments

FUNDING

Delivery Platform Daily Ninja Raises $3 Mn

A subscription-based delivery platform Daily Ninja that delivers everyday essentials to its customers has reportedly raised funds from Bengaluru-based Saama Capital and its existing investor Sequoia Capital worth $3 million. Daily Ninja is a unique hyperlocal platform which is based on prepaid subscriptions. The service delivers products of daily needs to its customers through its mobile app. It aims to give the easiest, hassle-free ordering experience to its customers ideally suited to high quality and speedy ordering of household needs with a subscription-based model. The funds raised by Daily Ninja will be utilized in the growth and expansion purposes. It aims to build its name and fame in the households across Bengaluru and Hyderabad. It wants to grow its business by attracting a...

Softbank Will Launch New Vision Fund in “Near Future”

16May By Sheldan RungasamyNo Comments

News

Softbank Will Launch New Vision Fund in “Near Future”

Masayoshi Son, founder of SoftBank Group Corp, the world’s largest private equity fund, announced that he was keen to set up a second Vision Fund in the near future, despite still having capital remaining in its $100 Bn Vision Fund of May 2017. In a conference held in Tokyo, the business mogul stated that capital will be raised from existing institutional investors for this new fund. Although Son said that the fund will launch in the “near future”, he did however, specify that it won’t be before the coming six months. “Vision Fund 2 will definitely come,” said Masayoshi Son at the conference, although the actual size of the fund has been kept confidential. The Vision Fund I is currently controlled by Softbank Group founder and CEO Masayoshi Son and designated CEO of Softbank Visio...

B2B Startups Coming Up In Big Way Says Mohandas Pai

20Jul By Press Trust of IndiaNo Comments

Entrepreneurs Talk

B2B Startups Coming Up In Big Way Says Mohandas Pai

Tech investor T V Mohandas Pai today said business-to-business startups are coming forth in a "big-way" despite difficulties in running them when compared to business-to-consumer startups. Quoting a report, he said there are 20,000 startups in India and 90 per cent of them are B2C, because they are started by young people barely out of college. For them B2C becomes easy because they see the challenges faced by the consumers out of experience and exposure, he said. "The balance 10 per cent, about 2,600 companies all across the country, would be B2B and of them I would expect 1000 companies to be high quality companies." Pai was speaking during a panel discussion on the topic "B2B startups and their impact on various sectors", organized by Airbus BizLab. He said despite difficult...

Another Woman Alleges Sexual Harassment By Tech Investor Mahesh Murthy

24Apr By AnkitaNo Comments

News

Another Woman Alleges Sexual Harassment By Tech Investor Mahesh Murthy

Woman author Rashmi Bansal has accused venture investor Mahesh Murthy of sexual harassment 13 years ago, which he has denied as "absolute and complete lies". The author, who made the allegations ahead of her book launch, said she has not filed a police complaint against the sexual advances that Murthy allegedly made in a cafe in 2004. "This story dates back to 2004. In one of my meetings with that person (Mahesh Murthy) at Mocha Cafe in Mumbai, he kicked off a conversation about his open marriage. "He was sitting across opposite and then got up and sat closer to me. He leaned forward and touched me inappropriately," Bansal told Pixr8. However, Murthy has denied all these charges. "Not only has she suddenly come up with claims about a period more than 13 years ago, the claims t...

1Mar By AnkitaNo Comments

FUNDING

Inter-city Cab Rental Platform MyTaxiIndia Raises Funding

Inter-city cab rental platform MyTaxiIndia has raised an undisclosed amount from ZGC Global, a Dubai-based investor to expand its operations. MyTaxiIndia, which claims to be present in 200 cities, is looking at rolling out its offerings in the North-East as well as tier I and II cities in states like Bihar, Uttar Pradesh, Madhya Pradesh and Chhattisgarh. However, no financial details of the investment were divulged. The company plans to raise its next round of funding of about USD 5 million in the next four months. Stating that the Dubai-based company will also participate in the Series A round, MyTaxiIndia Co-Founder Anshuman Mihir said: "We are discussing the valuation with several venture capital firms... We would be raising up to USD 5 million". In July 2016, MyTaxiIndia ha...

26Dec By NitishNo Comments

FUNDING

Hyperlocal Logistics Startup ShadowFax Raises 68 Crore Funding

Shadowfax, one of India’s largest express delivery platform has raised $10 million (Rs 68 crore) in Series B funding led by existing investor Eight Roads Ventures, an investment arm of Fidelity International Ltd. The investment will use to build its network, consolidate its market position and stabilise performance in existing cities, Eight Roads said in a statement. The company provides logistics support for intra city movement across multiple segments such as F&B, grocery, and e-tailing in 15 cities. It has recently launched low cost express delivery in an additional 10 cities. The latest expansion takes its total pin code coverage to more than 1500 adding cities like Ahmedabad, Indore, Faridabad, Kolkata, Chandigarh, Vadodra, Vishakhapatnam, Nagpur, and Lucknow. The startup will ...

20Dec By AnkitaNo Comments

FUNDING

Jewellery Marketplace VivoCarat.com Raises $50,000 Seed Funding

Online jewellery marketplace, has raised USD 50,000 in seed funding from a group of individual investors. The funds will be used for product development, team building and marketing, it said in a statement. Founded in early 2016 by Ritesh Oza and Abhijith Shetty, VivoCarat is an online portal of diversified jewellery brands that showcases striking and spectacular jewellery products. VivoCarat has successfully managed to join hands with more than 30 reputed brands across Mumbai & other cities like Jaipur, Surat, Kolkata and New Delhi." said Ritesh Oza, CEO, VivoCarat.com. We add a minimum of 100-150 new designs on the site every month and will continue to bring more varieties for customers across the country.

Has Demonetization Really Helped In Growth Of Paytm?

9Dec By Ankita SinghNo Comments

News

Has Demonetization Really Helped In Growth Of Paytm?

December 9, 2016- Now wherever we go, whether its small shops or a big store, we see a Scanning code on the wall with "Paytm logo" which says PAYTM KARO. Paytm is an online payment transaction company that has been highly popular after the "Demonetization". After the Demonetization news was announced, on the next morning Paytm ads were carried on the first page of major newspapers of India. So the common question arises "Does really Paytm have gained beneficiary after demonetization"? As per sources, Paytm was seeking to raise money in August at a valuation of $5 billion. After demonetization Paytm transaction touched 5 million in a day regularly. Paytm transaction total hit Rs 24,000 crore a day and the company registered a 700% increase in overall traffic and 1000%percent growth to Pa...

Google Capital Rebrands as CapitalG; Discloses Snapchat Investment

5Nov By reutersNo Comments

FUNDING

Google Capital Rebrands as CapitalG; Discloses Snapchat Investment

Alphabet's venture capital arm CapitalG, earlier known as Google Capital, disclosed an investment in Snapchat by adding the social networking firm's logo to a page on its investment portfolio website. CapitalG has not made a formal announcement and it was not clear when Google made the investment. The company was not immediately available to comment. Snap, which operates the popular messaging app Snapchat, has hired Morgan Stanley and Goldman Sachs Group as lead underwriters for an initial public offering. The banks were notified last month that they had been awarded one of most coveted and potentially lucrative IPO mandates in recent years, as the Venice, California-based company vies for a $25 billion valuation in the stock market. Snapchat, which lets users send smartphone p...