LG Electronics Inc. is contemplating an initial public offering (IPO) for its India business as part of its strategy to achieve a $75 billion revenue target by 2030. This marks the first time the South Korean company, which competes with industry giant Samsung Electronics Co., has publicly discussed the possibility of listing its Indian operations.
CEO William Cho revealed that an Indian market…
Delhi-based property technology startup HouseEazy has raised $7 million in a Series A funding round, marking its first significant fundraising since its seed round in December 2023. The latest round, a mix of equity and debt, was led by Chiratae Ventures, with participation from Alteria Capital and existing investor Antler.
HouseEazy plans to use the funds to accelerate its growth in new…
PhonePe, the Walmart-backed fintech giant, has announced a significant milestone by turning profitable for the fiscal year 2024, excluding costs related to employee stock options (ESOPs). The company reported a profit after tax (PAT) of ₹197 crore, excluding ESOP expenses, marking a dramatic turnaround from a loss of ₹738 crore in FY23.
In a statement released on Monday, PhonePe highlighted…
The Cellular Operators Association of India (COAI) has called on the Indian government to bring over-the-top (OTT) communication apps, such as WhatsApp, Google Meet, and Telegram, under the purview of the Telecommunications Act, 2023. This request is driven by concerns over national security and the need for regulatory parity between telecom service providers and OTT platforms.
SP Kochhar…
Convin, an innovative AI-powered conversation intelligence platform, has successfully raised $6.5 million in its latest funding round, spearheaded by India Quotient. This investment is set to propel the Bengaluru-based company’s growth, enabling it to bolster its core team and expand its distribution channels.
The funding round also welcomed new investor JSW Ventures, alongside existing backers…
Mumbai-based venture capital firm Kae Capital has announced the appointment of Abhishek Srivastava and Gaurav Chaturvedi as general partners. Srivastava, a former executive at Endiya Partners, brings a wealth of experience to his new role. He was a founding director at Endiya Partners and is known for his deep expertise in venture capital and investment strategy. Chaturvedi, who has been with Kae…
Apple’s expanding presence in India is projected to generate up to 600,000 jobs by the end of the fiscal year, underscoring the company’s significant efforts to diversify its production away from China. The expansion is part of Apple’s broader strategy to bolster its manufacturing capabilities in India, driven by production-linked incentive (PLI) schemes offered by the Indian…
Bloomin’ Brands, the parent company of Outback Steakhouse, has appointed Michael Spanos as its new CEO. Spanos, who recently left his position as Chief Operating Officer at Delta Air Lines, takes over from David Deno, who announced his retirement in May.
Spanos’s departure from Delta, following a tumultuous period marked by a major CrowdStrike-related outage that disrupted thousands of…
During the latest earnings season, consumer-facing companies have observed a shift in shopping behaviors towards value-seeking. Lei Chen, co-CEO of PDD Holdings, the parent company of Chinese e-commerce platform Temu, has coined the term “rational consumers” to describe this trend.
In a recent earnings call, Chen characterized these consumers as making more “thoughtful” choices, balancing…
Ruchir Sharma, a prominent global investor and author, will be the distinguished guest at the Express Adda event in Mumbai this Tuesday. Sharma, who serves as Chairman of Rockefeller International and Founder and Chief Investment Officer of Breakout Capital, is set to offer his expert analysis on capitalism and the factors shaping both global and domestic economies.
Sharma’s latest book, What…
