In a significant move, Amazon has fully exited its investment in Shoppers Stop, one of India’s most well-known retail chains. The global e-commerce giant has sold its 4% stake in the company for approximately Rs 276 crore, marking the end of a five-year-long partnership. This move highlights the changing dynamics of India’s retail market and raises questions about Amazon’s future strategies…
In the ever-evolving landscape of remote work, Microsoft has stepped into the spotlight by reassuring its employees that there are no immediate plans for a mandatory return to the office, unlike some of its tech counterparts. This announcement comes amidst growing tensions in the corporate world regarding remote work policies.
A Shift in Workplace Dynamics
Microsoft has been one of the companies…
Amazon employees are expressing frustration and disillusionment following CEO Andy Jassy’s recent announcement mandating a return to the office five days a week. Many workers are now actively seeking new job opportunities, claiming they feel betrayed by the company’s abrupt policy changes.
The Shock of the Return-to-Office Mandate
Laura, an Amazon employee who has been with the company for…
Google has entered a $2.7 billion agreement with AI startup Character.AI, reportedly aimed at rehiring Noam Shazeer, a former employee known for his contributions to AI chatbot technology. Shazeer, who was among Google’s first hundred employees, left the company in 2021 after developing an AI chatbot that the tech giant chose not to release publicly.
The deal, officially framed as a licensing…
Amazon CEO Andy Jassy has announced a significant shift in the company’s work policy, mandating that all employees return to the office five days a week starting January 2, 2025. This new directive marks a departure from the current hybrid model, which requires employees to be in the office at least three days per week.
In his message to Amazon’s 1.5 million employees, Jassy emphasized that…
The Competition Commission of India (CCI) has unveiled a significant antitrust investigation revealing that major smartphone manufacturers, including Samsung, Xiaomi, Motorola, Realme, Vivo, and Lenovo, allegedly colluded with e-commerce giants Amazon and Flipkart. This alleged collusion involved exclusive product launches and preferential treatment, breaching local competition laws and raising…
D2C home gardening brand Ugaoo has raised $2 million in a pre-Series A round drove by DSG Consumer Partners and RPG Ventures.
The startup plans to use the assets to expand its regional presence with centers and garden focuses in Bangalore, Delhi, Kolkata and collaborate with international plant companies to introduce a more extensive range of colorful plants and premium plant care items to the…
Thrasio-style startup Evenflow has acquired games and wellness brand Xtrim.
With this, Evenflow has made its third acquisition in a month. Already it acquired baby brand BabyPro and Rusabl, an online brand in the daily sustainable category.
Evenflow aims to create a solid and affordable local brand for Indian consumers as well as something that appeals to the international audience with Xtrim’s…
Digital insurance supplier Acko has raised $255 million in a new round led by General Atlantic and Multiples Private Equity. The round also saw participation from CPPIB, Lightspeed Growth and existing investors Intact Ventures and Munich Re Ventures.
According to Acko, the new assets have been raised at a valuation of $1.1 billion, making it the 34th unicorn this year to pave its way into the…
B2B conveyance and shared portability startup, Zypp Electric, has raised $7 million in its Series A round drove by co-drove by 9Unicorns and Anthill Ventures. Nanavati Family Office, We Founder Circle, Silicon Valley based Riso Capital Fund, Dholakia Ventures along with existing investors Venture Catalysts and IAN Fund have also participated in the round.
With this round, Zypp’s total fundraise…
