Author: Cross Road Times
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EaseMyTrip Allots 12.57 Cr Shares For Various Acquisitions
SUMMARY The company’s board approved the allotment of fresh equity shares to acquired businesses Jeewani Hospitality, Rollins International, Pfledge Home Health Care Center, and Planet Education promoters Gagandeep Singh and Sanket Champaklal Shah EaseMyTrip said that the allotted 12.57 Cr equity shares are worth INR 229.03 Cr, a premium of about 40% considering the closing…
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PhonePe & Google Pay Continue To Lead UPI In March
SUMMARY IPO-bound fintech company PhonePe maintained its leadership position in the UPI market in March, processing 864.7 Cr, or 47.25% of the total UPI transactions Following its lead was Google Pay, which notched up 36.04% of the total UPI transactions while accounting for 34.98% of the total UPI value Overall, UPI transactions in the country…
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MoEngage Looks To Move Domicile To India
SUMMARY The Goldman Sachs-backed startup is in discussions with a host of advisors and bankers about the potential move Founded in 2014 by Raviteja Dodda and Yashwanth Kumar, MoEngage helps consumer brands amplify and scale customer engagement Since its inception, the startup has raised $207.38 Mn in total funding till date and counts Eight Roads…
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What Triggered Ecom Express’ $165 Mn Fire Sale To Delhivery?
Last week, the Indian startup ecosystem witnessed a different kind of distress sale. Typically speaking, such deals involve companies going through a downturn, but this time it was for an IPO-bound company — Ecom Express. Listed major Delhivery informed stock exchanges that it is acquiring 99.4% stake in Ecom Express for INR 1,407 Cr ($165…
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Palantir Is Helping DOGE With a Massive IRS Data Project
Palantir, the software company cofounded by Peter Thiel, is part of an effort by Elon Musk’s so-called Department of Government Efficiency (DOGE) to build a new “mega API” for accessing Internal Revenue Service records, IRS sources tell WIRED. For the past three days, DOGE and a handful of Palantir representatives, along with dozens of career…
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Ecom Express’ Acquisition To Boost Profitability: Delhivery
SUMMARY Delhivery said that no new technology integrations will have to be “created or changed” as part of the deal as there is a near total overlap between the two companies Delhivery said that Ecom Express reported a net loss of INR 398 Cr in 9M FY25 as compared to INR 215 Cr loss reported…
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Expert Dojo Launches Third Global Fund, To Invest $15 Mn In Indian Startups
SUMMARY Expert Dojo will invest $15 Mn in 20-25 early stage Indian startups across fintech, B2B, SaaS, and AI sectors in FY26 The VC firm will invest $50,000 to $1 Mn in each startup and also provide mentorship and market network California-based Expert Dojo counts Indian startups like BHIVE, Zippie, Mugafi, Cloudworx, among others, in…
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Sex-Fantasy Chatbots Are Leaking a Constant Stream of Explicit Messages
All of the 400 exposed AI systems found by UpGuard have one thing in common: They use the open source AI framework called llama.cpp. This software allows people to relatively easily deploy open source AI models on their own systems or servers. However, if it is not set up properly, it can inadvertently expose prompts…
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Tracxn Allots Shares Worth INR 2.19 Cr Under ESOP Scheme
SUMMARY Tracxn’s Nomination and Remuneration Committee approved the allotment of 4,28,488 equity shares at a face value of INR 1 each As per the stock’s closing price on Monday (April 7), the newly allotted equity shares are worth INR 2.19 Cr In March, the company allotted 2.84 Lakh equity shares under TRACXN Employee Stock Option…
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Myntra CTPO Raghu Krishnananda Steps Down
SUMMARY In an internal memo, Myntra CEO said that Krishnananda stepped down to “explore the next chapter of life outside” of the company The fashion ecommerce platform is yet to announce a replacement for Krishnananda In February, Jeyandran Venugopal resigned from the post of CPTO of Myntra’s parent Flipkart after a six-year long tenure Flipkart-owned…
