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 Transaction
Nexus Ventures Partners, through its affiliate Nexus Ventures III, offloaded more than…
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 its debut in November 2023.
Strategic Expansion
Ather Energy’s entry into Sri Lanka is a key…
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 iterations since its launch, faced significant issues despite multiple changes to its business model.
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 its recent success in e-commerce.
According to ONDC CEO T Koshy, the mutual fund offering is scheduled to…
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.
Announced on August 22 via the social media platform X, the ‘Privacy Mode’ aims to help traders…
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 fiscal 2024, Swiggy reported impressive revenues of INR 7,474 crore. This financial performance…
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 in the global tech industry.
The scheme is designed to encourage significant investment in electronics…
Nestle SA is undergoing a significant leadership change as Mark Schneider steps down from his role as CEO after nearly eight years at the helm. The Swiss food giant has announced that Laurent Freixe, a long-time company veteran, will succeed Schneider as CEO starting September 1, 2024.
Schneider, 58, led Nestle through a transformative period, reshaping the company’s structure and steering it…
Dropbox, a cloud storage titan serving over 500 million users globally, began its journey as a modest two-person startup. Here’s a look at its remarkable rise to becoming a billion-dollar enterprise.
The Genesis of Dropbox
The inception of Dropbox can be traced back to 2007, when Drew Houston, the company’s founder, faced a frustrating moment on a bus ride. Houston, who had been coding since…
The significant share acquisition aims to increase the capital of the Indian unit, aligning with Foxconn’s broader strategy of scaling up its operations beyond smartphone manufacturing. Liu highlighted the company’s ambitions to advance in sectors such as information and communication technology (ICT), electric vehicles (EVs), energy, and digital health.
In addition to the Indian investment…
