The Entrepreneur Story
3003 stories by The Entrepreneur Story
Vikas Mehta Joins Remitly as New CFO Amid Global Expansion and Tech Investments
Vikas Mehta, a seasoned finance leader with a track record at major companies such as PayPal, Microsoft, Walmart, Nike, Anaplan, and Komodo Health, has been appointed as the new Chief Financial Officer at Remitly. Mehta’s new role at the Seattle-based digital remittance provider began this week, and
From Tokyo to Toronto: How 7-Eleven’s Global Success Attracted a Game-Changing Canadian Buyout Bid
The news that 7-Eleven’s parent company, Seven & i Holdings, has received a buyout offer from Canadian rival Alimentation Couche-Tard has sent shockwaves through Japan. This potential acquisition is unprecedented, as it marks the first time a Japanese company of such a size could be bought
Swiggy’s Valuation Dips to $14.7 Billion Ahead of IPO, Eyes $15 Billion Target
Swiggy, the Indian food delivery giant, has seen its valuation decrease to $14.7 billion ahead of its highly anticipated initial public offering (IPO). This valuation adjustment, reported by US-based asset management firm Baron Capital in regulatory filings with the US Securities and Exchange Commis
Retailer Body Urges Government to Regulate Rapid Growth of Quick Commerce Platforms
The All India Consumer Products Distributors Federation (AICPDF) has raised a formal concern regarding the unchecked expansion of quick commerce platforms such as Blinkit, Swiggy Instamart, and Zepto. In a letter to Trade Minister Piyush Goyal, the AICPDF has called for a thorough review of the sect
India Seeks Proposals for E-Commerce Export Hubs to Boost Small Producer Sales
The Indian government has announced a new initiative to enhance the country’s e-commerce sector by inviting proposals to establish e-commerce export hubs (ECEHs). The draft modalities for these hubs were released on Friday, outlining a framework aimed at supporting small producers in accessing
Anil Ambani Fined ₹25 Crore and Banned from Securities Market for 5 Years by SEBI
In a significant regulatory action, the Securities and Exchange Board of India (SEBI) has barred industrialist Anil Ambani and 24 associated entities from the securities market for five years. This penalty follows an investigation into the diversion of funds from Reliance Home Finance Ltd. (RHFL), a
Adani Power Claims $800 Million in Unpaid Dues from Bangladesh Amid Economic Crisis
Adani Power, a subsidiary of billionaire Gautam Adani’s vast conglomerate, is currently facing a significant financial dispute with Bangladesh, which owes the company approximately $800 million in unpaid dues. This substantial amount stems from electricity supplied by Adani Power’s coal-fired plant
Nexus Venture Partners Sells 1.06% Stake in Delhivery for INR 344 Crore
In a significant financial maneuver, Nexus Venture Partners has sold a 1.06% stake in Delhivery, one of India’s leading logistics and supply chain firms, for INR 344.06 crore. The transaction was executed through an open market deal on the National Stock Exchange (NSE) on Wednesday. Details of the T
Ather Energy Expands into Sri Lanka Following Successful Nepal Launch
Ather Energy, a leading electric two-wheeler manufacturer based in India, has announced its strategic expansion into the Sri Lankan market, marking a significant step in its international growth strategy. This move comes as the company seeks to replicate the success it has achieved in Nepal since it
Zomato Shuts Down Intercity Delivery Service Legends After Two Years of Struggles
Zomato has announced the closure of its intercity food delivery service, Legends, due to persistent challenges in finding a product-market fit. The decision, confirmed by Zomato’s CEO, Deepinder Goyal, marks the end of a two-year experiment with the service. Legends, which had undergone several iter
ONDC Set to Launch Insurance and Mutual Fund Products, with Credit Card Plans on Horizon
The Open Network for Digital Commerce (ONDC) is preparing to expand its financial services offerings, with plans to launch insurance and mutual fund products within the next two months. The announcement reflects ONDC’s broader strategy to diversify its financial services portfolio, following i
Zerodha Rolls Out ‘Privacy Mode’ Feature For Users To Mask Real Time Profit & Loss Changes
Zerodha, the prominent stock broking platform led by Nithin and Nikhil Kamath, has introduced a new ‘Privacy Mode’ on its trading website, Kite. This feature allows users to hide real-time changes in their profit and loss (P&L) statements, providing a distraction-free trading experience. Announc
Swiggy Valued at $11.5 Billion by 360 One WAM Ahead of $1.25 Billion IPO
Swiggy, the leading food delivery platform based in Bengaluru, has been valued at $11.5 billion by investor 360 One WAM, according to a recent investor presentation seen by ET. This valuation comes as Swiggy prepares to go public through a significant $1.25 billion IPO process. In the first half of
Government Eyes INR 40,000 Cr Investment for Electronics Component Manufacturing Scheme
The Indian government is considering allocating up to INR 40,000 crore for a new scheme aimed at boosting electronics component manufacturing within the country. This strategic move is part of a broader initiative to strengthen the domestic electronics supply chain and enhance India’s position
PhonePe Introduces ‘Credit Line on UPI’ for Seamless Merchant Payments and Short-Term Credit
PhonePe Unveils ‘Credit Line on UPI’ Feature, Enabling Short-Term Credit for Merchant Transactions PhonePe, a leading digital payments platform, has launched a groundbreaking feature called ‘Credit Line on UPI,’ expanding the capabilities of the Unified Payments Interface (UPI) to include short-term
PhysicsWallah Launches ‘School of Startups’ with $5 Million Fund to Empower Over 100 Emerging Entrepreneurs
PhysicsWallah Unveils ‘School of Startups’ and $5 Million Fund to Support Over 100 New Ventures Edtech unicorn PhysicsWallah, known for revolutionizing education through innovative learning solutions, has announced the launch of its ‘PW School of Startups’ (PW SOS) along with
From 10th Grade to Millionaire: How a Gujarati Immigrant in the U.S. Made His Fortune with Common Sense
In a narrative that defies conventional business wisdom, the success story of Patel, an Indian immigrant in the United States, challenges widely-held assumptions about the restaurant industry. Renowned entrepreneur and PayPal co-founder Peter Thiel has famously criticized the restaurant sector for i
Byju’s Insolvency Sparks Employee Panic and Legal Battles
The insolvency crisis facing Indian ed-tech giant Byju’s has triggered widespread concern among its workforce, marking a potential upheaval in the country’s startup sector. Once valued at $22 billion and hailed as a leading figure in online education during the COVID-19 pandemic, Byju
Nomura Highlights Risks and Opportunities in Zomato’s Paytm Acquisition; Sets Target Price
Nomura India has provided a comprehensive analysis of Zomato’s recent acquisition of Paytm’s entertainment ticketing business, shedding light on the potential risks and key drivers that could influence the company’s stock performance. The brokerage’s detailed report addresses the c
“Chili’s Surges with 15% Sales Boost Amid TikTok Frenzy and Fast-Food Rivalry”
Chili’s has seen a remarkable surge in sales, climbing nearly 15% in its latest quarter, thanks in part to a viral TikTok appetizer and a targeted ad campaign against fast-food chains. This boost is a clear indicator that the restaurant chain’s two-year turnaround strategy is paying off. Brinker Int
Epic Systems Commits to Transition All Customers to TEFCA by 2025, Enhancing Medical Data Exchange
Epic Systems, a leading health-care software provider, has announced its plan to migrate all its hospital and clinic clients to the federal government’s new medical records exchange network, TEFCA, by the end of 2025. The move aims to streamline the sharing of patient data across various health care
Global Capability Centres Are Transforming India’s Job Market and Tech Landscape
Global Capability Centres (GCCs) have undergone a remarkable transformation from their origins as mere back-office operations to becoming integral powerhouses within the global technology ecosystem. Once relegated to supporting roles for Fortune 500 companies, GCCs in India are now driving innovatio
Indian Billionaire Sunil Mittal Bets on British Telecom’s Future Amidst UK NIMBY Concerns
Sunil Mittal, the patriarch of Bharti Enterprises and a prominent figure in the Indian telecommunications sector, has made a significant move by agreeing to acquire nearly 25% of BT Group Plc from Altice UK. This bold investment reflects Mittal’s confidence in the rejuvenation of BT Group, des
Mastercard to Reduce Global Workforce by 3% Amidst Strategic Restructuring
Mastercard is reportedly planning to reduce its global workforce by approximately 3% as part of a strategic restructuring initiative aimed at streamlining operations and enhancing efficiency. This decision reflects broader trends within the financial services industry, where companies are increasing
MSME Growth Slows to 5.4% Amidst Merger Impact and Sectoral Shifts
The growth of Indian micro, small, and medium enterprises (MSMEs) has slowed to 5.4% for the December to June period, according to a recent report by CareEdge Ratings. This marks a decline from 7.0% growth during the same period the previous year. The report indicates that if the impact of recent me
Smartworks and Ecom Express File Draft Papers for IPOs with Sebi
Two emerging companies, Smartworks Coworking Spaces and Ecom Express, have recently filed their draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) as they prepare to launch their Initial Public Offerings (IPOs). Both firms are set to raise funds through the pr
Meta Shuts Down CrowdTangle: A Setback for Misinformation Research and Journalism
Meta’s decision to close CrowdTangle, a vital tool in the fight against misinformation, has raised concerns among researchers and journalists who relied on the platform to analyze and track the spread of false information. Founded in 2011 and acquired by Facebook in 2016, CrowdTangle became an
Ola Electric Surges to $7 Billion Valuation After E-Motorcycle Launch and Battery Strategy
Ola Electric Mobility has seen a significant boost in its market valuation, reaching approximately $7 billion following the launch of its new line of electric motorcycles and an ambitious plan to produce its own batteries. The surge in the company’s valuation, which has increased by 20% to rea
BMW China Joint Venture to Recall Over 140,000 Cars Due to Steering Defects
BMW Brilliance Automotive, a joint venture between German automotive powerhouse BMW and Brilliance China Automotive Holdings, is set to recall over 140,000 vehicles in China. This recall, driven by safety concerns, highlights the critical role of quality control in the automotive industry and unders
Ola Electric Launches ‘Roadster Series’ Motorcycles, Aiming to Revolutionize India’s EV Market
Ola Electric has officially launched its highly anticipated ‘Roadster Series’ of motorcycles at their flagship event, Sankalp 2024. This new lineup, which includes the Roadster, Roadster X, and Roadster Pro, represents a significant leap for the company as it expands its footprint into t
Lenovo’s Q1 Revenue Surges 20%, Exceeds Expectations as PC Market Rebounds
Lenovo Group reported a robust 20% increase in quarterly revenue for the period ending June, reaching $15.4 billion, surpassing analysts’ expectations of $14.1 billion. This marks Lenovo’s third consecutive quarter of revenue growth following a period of five straight declines due to the post-COVID
Swiggy Expands Service Fee Policy to Non-Metro Restaurants, Raising Commissions
Swiggy, the leading food-tech giant preparing for its IPO, has announced an extension of its service fee policy to include the gross order value for restaurants in non-metro areas. This policy adjustment, reported by The Economic Times, will increase the commission charges for its restaurant partner
Meet the Indian Billionaire with the World’s Most Expensive Yacht: Lakshmi Mittal
While Mukesh and Anil Ambani are often in the spotlight for their massive fortunes, it’s Lakshmi Mittal who now holds the title for owning the world’s most expensive yacht, valued at over ₹1,000 crore. Mittal, with a net worth of approximately ₹1.35 lakh crore, surpasses the Ambanis in yacht o
Sachin Tendulkar Ventures into Athleisure Market with Affordable Brand
Legendary cricketer Sachin Tendulkar is stepping into the world of entrepreneurship with a new sports athleisure brand, SRT10 Athleisure Pvt Ltd. Launched in collaboration with former Swiggy executives Karthik Gurumurthy and Karan Arora, the brand aims to offer high-quality athleisure at competitive
Intel Sells Stake in Arm Holdings Amid Restructuring and Focus Shift to AI
Intel has divested its 1.18 million-share stake in British chip designer Arm Holdings, according to a regulatory filing revealed on Tuesday. The sale, completed in the second quarter, is estimated to have netted Intel approximately $146.7 million, based on Arm’s average stock price during that perio
FirstCry’s Parent Company Brainbee Solutions Soars 40% on Debut; Sachin Tendulkar and Ratan Tata Profit Significantly
FirstCry’s Parent Company Brainbee Solutions Soars 40% on Debut; Sachin Tendulkar and Ratan Tata Profit Significantly Shares of Brainbee Solutions, the parent company of FirstCry, made a spectacular debut on the National Stock Exchange (NSE) on Tuesday, listing at ₹651 per share. This represents a 4
The birth of the carbon removal market
The Intergovernmental Panel on Climate Change (IPCC) has underscored the critical role of carbon removal in achieving global climate targets, revealing that all scenarios to limit warming to 1.5°C depend on this approach. Carbon removal, encompassing both natural methods like reforestation and techn
Universal Music Expands Deal with Meta, Enabling Music Sharing on WhatsApp
Universal Music Group (UMG) has secured an expanded licensing agreement with Meta Platforms, allowing its vast catalog of music to be used and shared across Meta’s suite of platforms, including WhatsApp for the first time. This new multiyear global deal will see songs from UMG’s top artists, s
Bharti Enterprises to Acquire 24.5% Stake in BT Group from Altice UK
Bharti Enterprises has announced plans to acquire a 24.5% stake in BT Group from Altice UK, marking a significant investment in the British telecommunications sector. The acquisition will be executed through Bharti Global and is structured in two phases: an immediate purchase of a 9.99% stake and a
Jeyandran Venugopal on Balancing Security, Efficiency, and Cost
In a recent discussion at ETSpectrum, Jeyandran Venugopal, Flipkart’s Chief Product and Technology Officer, shed light on the e-commerce giant’s strategic approach to cloud adoption. Venugopal detailed how Flipkart harnesses the cloud to achieve optimal security, efficiency, and cost-effectiveness.
Jammu & Kashmir Bank MD & CEO Baldev Prakash Discusses Governance Reforms and Financial Provisions
Baldev Prakash, the Managing Director and CEO of Jammu & Kashmir Bank, has been instrumental in driving significant changes within the institution since assuming his role on December 30, 2021. In an exclusive interview with Manojit Saha in Mumbai, Prakash shared insights into the steps taken to
The Rise of Female Venture Capitalists: How Arianna Huffington and Theresia Gouw Are Transforming the Investment Landscape
In the evolving world of venture capital, female leaders are making significant strides and reshaping the investment landscape. Notable figures like Arianna Huffington and Theresia Gouw are at the forefront of this shift, bringing new perspectives and innovations to the industry. Arianna Huffington:
Leadership Lessons from Indra Nooyi: What PepsiCo’s Former CEO Can Teach Us About Diversity and Inclusion
As we celebrate the birthday of Indra Nooyi on October 28th, it’s an opportune moment to reflect on the profound impact she made as the former CEO of PepsiCo. Her leadership style, marked by strategic thinking and a commitment to diversity, offers valuable lessons for leaders across various fields.
The Entrepreneurial Spirit of Sara Blakely: How Spanx Became a Household Name
In 2012, Sara Blakely achieved a remarkable milestone: Forbes named her the world’s youngest self-made billionaire, placing her among the elite ranks of global business icons like the Waltons, Carlos Slim, and Warren Buffett. Her ascent to billionaire status is all the more impressive given he
The Investment Philosophy of Abigail Johnson: Insights from Fidelity’s Trailblazing CEO
Abigail Johnson, Chairman and CEO of Fidelity Investments, offers a unique perspective on leadership and business strategy, drawing from her extensive experience in the financial services industry. In a recent online event hosted by the Tufts Financial Network, Johnson shared her insights on maintai
The Trailblazing Career of Mary Barra: How GM’s CEO is Revolutionizing the Auto Industry
In the fast-evolving world of the automotive industry, Mary Barra’s tenure as CEO of General Motors (GM) stands as a testament to transformative leadership. As the first female CEO of a major global automaker, Barra has not only shattered industry norms but has also spearheaded a revolution in innov
Coffee Day Enterprises Shares Plunge 19% Amid Insolvency Proceedings
Coffee Day Enterprises Ltd (CDEL) experienced a significant drop in its share price on Monday, August 12, 2024, as the company’s financial troubles took a new turn. The stock tumbled 19.47%, hitting a day low of Rs 37.55, and was last seen trading 15.14% lower at Rs 39.57. This latest decline
MapmyIndia CEO Slams Ola Maps as a ‘Gimmick,’ Sparking Legal Clash Over Digital Navigation
A heated controversy has emerged in India’s digital navigation industry, centered around the new Ola Maps launched by Ola Electric. Rohan Verma, CEO and Executive Director of MapmyIndia, has publicly denounced Ola’s map as a “gimmick,” sparking a significant legal dispute between t
Lamborghini welcomes UP government’s decision on no registration cost to hybrid cars
Italian luxury automobile manufacturer Automobili Lamborghini has warmly welcomed the Uttar Pradesh government’s recent decision to eliminate registration fees for hybrid vehicles. This policy shift, announced on August 9, 2024, marks a significant step towards promoting environmentally friendly tec
Jindal Steel Cuts Australian Coking Coal Dependency by Over 50%
Jindal Steel, a major player in India’s steel industry and led by Naveen Jindal, has significantly reduced its reliance on Australian coking coal by more than 50%, according to a recent statement. This strategic move aims to mitigate geographical risks and manage cost pressures more effectively. In
FPIs Turn Net Sellers This Week, Offload Over Rs 12,400 Crore in Indian Markets
Foreign Portfolio Investors (FPIs) shifted to net selling in the Indian stock market, liquidating equities worth Rs 12,404.73 crore during the week of August 5 to August 9, 2024. According to data from the National Securities Depository (NSDL), FPIs sold shares daily throughout the week, with the ex
Zoomcar Launches First Fulfillment Center in Chennai, Plans Extensive Expansion for 2024
Zoomcar, a prominent player in the self-drive car-sharing industry, has taken a significant step in its expansion strategy by launching its first fulfillment center in Chennai. This development is part of a broader plan to set up over 100 similar centers across India by the end of 2024. Additionally
Shopsy Expands Reach to Rural India, Aims to Capture the Bharat Shopper
Shopsy, Flipkart’s hyper-value e-commerce platform, is intensifying its efforts to tap into the burgeoning rural market of India. With over 821 million internet users in the country, more than half—approximately 442 million—reside in rural areas. Shopsy’s strategy, spearheaded by newly appoint
Coforge Faces $11 Million Indemnity Claim Over Alleged Data Breach
In a recent exchange filing, IT firm Coforge revealed that it has received a second supplementary notice from a North American client, demanding indemnification for an amount potentially exceeding $11 million. The notice pertains to claims related to an alleged data breach involving the company. Det
Midcap IT CEOs Outearn TCS and Infosys Chiefs Amid Industry Challenges
In a surprising turn of events, the chief executives of Indian midcap IT firms Coforge and Persistent Systems have earned more than their counterparts at industry giants TCS and Infosys in the past financial year. This trend highlights a growing willingness among midcap IT companies to offer competi
Exclusive Interview: Delhivery CEO Sahil Barua Discusses Quick Commerce’s Impact on Kiranas and E-Commerce
In an exclusive interview with ET’s Pranav Mukul and Samidha Sharma, Sahil Barua, CEO of Delhivery, sheds light on the evolving dynamics of the logistics industry and the challenges facing quick commerce. Barua discusses how the rapid growth of quick commerce is reshaping market shares, partic
STARZero Helps Entrepreneurs and Gig Economy Maximise Tax Benefits and Offset Tonnes of Emissions
SMARTZero Inc. proudly unveils the latest enhancements to the STARZero platform, meticulously engineered to support UK entrepreneurs and gig economy in maximising tax benefits and significantly reducing their carbon emissions. This innovative update pioneers the seamless integration of fiscal incent
E.l.f. Beauty Sales Soar 50% with Bronzing Drops Surge, But Shares Dip
E.l.f. Beauty has reported an impressive 50% increase in sales for the fiscal first quarter, driven by the success of its new Bronzing Drops serum and robust performance across various product categories. The company’s revenue surged to $324.5 million, surpassing Wall Street’s expectations and
Biocon Q1 profit up 6x at 660 crore
Biocon, a leading biotechnology firm, announced a dramatic increase in its consolidated profit after tax for the first quarter ending June 2024. The company’s profit surged more than six times to ₹660 crore, driven by a significant one-time gain resulting from its collaboration with Eris Lifescience
Ola Electric: Bhavish Aggarwal in India’s billionaire list, worth $1.44 billion as stock rallies 17%
Ola Electric Mobility Ltd’s stock experienced a significant surge of 17% following its muted market debut, propelling the company’s founder Bhavish Aggarwal into the ranks of India’s billionaires. Aggarwal, who holds a substantial 36.94% stake in the company, saw his net worth soar to approxim