Tiger Global is adding another handsome exit to its list of Indian startup exits. The firm wrapped up its latest exit in India this year by selling its remaining stake in Zomato for ₹1,123.85 crore through open market transactions. This exit marks the culmination of Tiger Global’s investment journey with Zomato, one of the largest … [Read more…]
In a significant development within the Chinese electric vehicle (EV) landscape, Xpeng Motors, a prominent EV startup, has decided to acquire the smart EV development business of Didi Global. As part of the deal, Xpeng will issue around 3.25% of its shares to Didi at HK$64.03 per share, establishing the ride-hailing giant as a strategic … [Read more…]
Days after it announced its new portable Playstation model along with a string of accessories (including a set of earbuds), Sony is further pushing on its gaming division by acquiring Audeze. The Orange Country, California-based firm is best known for its high-end headphones, targeted at gamers and audio producers. Though more of a brand making … [Read more…]
In a massive change, Microsoft has restructured the proposed deal to acquire Activision Blizzard – in response to regulatory hurdles, the tech titan will be transferring the cloud streaming rights for current and new Activision Blizzard games to Ubisoft, the same company that gave us popular gaming franchises such as Assassin’s Creed and Watch Dogs. … [Read more…]
British chip designer Arm, owned by Japanese behemoth Softbank, has officially filed for its highly-anticipated initial public offering (IPO) on the Nasdaq, setting the stage for what is likely to be the year’s largest IPO so far. This development marks Arm’s return to the public markets after seven years – in 2016, it had been … [Read more…]
With perhaps a focus outside the US to more affordable, emerging markets, Tesla is now making it easier for customers to get their hands on its vehicles without burning too large a hole in their pockets. The automaker unveiled new variants of its Model S sedan and Model X sport utility vehicle – Tesla’s oldest … [Read more…]
In the pursuit of self-sufficiency in mobile phone assembly, India has witnessed a significant shift in its manufacturing landscape. Between 2014 and 2022, the nation achieved a remarkable milestone by shipping 2 billion domestically assembled smartphone and feature phones under the “Make in India” initiative, marking a CAGR of 23% during the period. This drive … [Read more…]
Ola Electric, headed by Bhavish Aggarwal, has experienced a substantial surge in its consolidated revenue from operations during the fiscal year 2021-22. The company’s annual revenue witnessed an exponential growth of nearly 400 times, reaching ₹373 crore for the fiscal period, compared to the previous year’s ₹0.86 crore as per its annual financial statements. This … [Read more…]
Amazon is reportedly in advanced discussions to become a cornerstone investor in the IPO of SoftBank-owned British chip designer Arm Ltd. The development has been reported by Reuters. Incidentally, Amazon is one of Arm’s largest clients. Neither Amazon nor Arm commented on the matter, but if this development is correct, then Amazon will join several … [Read more…]
Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), recorded a comprehensive loss of $15.6 billion in 2022. According to media reports, this massive loss was primarily driven by the downturn in the market, as well as the plummeting value of its investments in Japan’s SoftBank Vision Fund. The PIF, chaired by Crown Prince … [Read more…]