Cisco Systems (CSCO) has announced it will cut about 7% of its workforce as part of its strategic shift towards high-growth sectors such as cybersecurity and artificial intelligence (AI). This decision follows a previous reduction of 5% in February, affecting around 4,250 employees.
In its fiscal fourth-quarter report, Cisco reported revenue of $13.6 billion, marking a 10% decrease year-over-year…
Sachin Tendulkar is stepping off the cricket field and into the business world with a new venture in sports athleisure. The legendary cricketer is teaming up with Karthik Gurumurthy, former chief of Swiggy Instamart, and Karan Arora, another ex-Swiggy executive, to launch a new sportswear brand.
The startup, backed by a holding company and incubated by early-stage venture fund Whiteboard Capital…
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 ownership.
Lakshmi Mittal’s Wealth and Achievements
As of April 2, 2024, Forbes estimates Lakshmi…
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 prices.
New Venture Details
The startup, incubated by early-stage venture fund Whiteboard Capital…
The Financial Services Commission (FSC) of Mauritius has strongly rebutted recent allegations made by Hindenburg Research concerning offshore funds linked to Madhabi Puri Buch, the chairperson of the Securities and Exchange Board of India (SEBI). The report by the American research firm sparked significant controversy by alleging that Buch and her husband had undisclosed investments in offshore…
Sachin Bansal’s fintech company, Navi, has experienced remarkable growth on the Unified Payments Interface (UPI) platform, nearly doubling its transaction volume in July. Data from the National Payments Corporation of India (NPCI) shows Navi processed 68.5 million transactions in July, a significant increase from 35.7 million in June and just 3 million in March, marking a 22-fold growth in four…
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 subsequent acquisition of a 14.51% stake pending regulatory approvals.
The deal underscores Bharti…
Kunal Shah, the renowned entrepreneur and founder of fintech giants CRED and Freecharge, has a remarkable story that diverges sharply from the typical Silicon Valley narrative. Recently, Sanjeev Bikhchandani, the founder and executive vice-chairman of Info Edge, shared a compelling account of Shah’s unconventional rise to success on social media platform X, shedding light on his humble…
HealthCRED, a B2B healthcare financing startup, has raised $1.2 million in seed funding led by Antler India, TRTL VC, DeVC, iSeedVC, and Angel List India. The funding round also saw contributions from angel investors such as Subho Ray, President of the Internet and Mobile Association of India (IAMAI), and Nitin Gupta, CEO of Uni Cards.
The new capital will be used to expand HealthCRED’s…
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.
Optimizing Cloud Security
Security remains a top priority for Flipkart as it scales its cloud…
