Author: Cross Road Times
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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…
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Urban Company Gets Board Nod To Raise INR 528 Cr Via IPO
SUMMARY Urban Company’s board has approved raising up to INR 528 Cr (about $60 Mn) via a fresh issue in its IPO The startup plans on a mainboard listing in an unspecified timeline Reports suggested that the startup was planning to file its draft papers for an INR 3,000 Cr IPO before the end of…
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Eternal Initiates Liquidation Of Zomato Netherlands
SUMMARY Zomato’s parent Eternal announced that its step-down subsidiary in the Netherlands, Zomato Netherlands, has initiated its liquidation process Zomato Netherlands’ turnover was nil in FY24, while its net worth stood at INR 32 Lakh. The liquidation of the subsidiary is expected to be completed within one year With this, Zomato has effectively shut down…
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The Good Glamm Group In Talks To Sell MissMalini
SUMMARY The deal is valued at INR 4 Cr and appears to be a distress sale as GGG faces financial challenges and is attempting to raise capital to sustain its operations As a part of the deal, Creativefuel will acquire the domain name and social media pages of MissMalini Entertainment, while the influencer business will…
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Karnataka To Formulate New Rules To Regulate Online Gaming
SUMMARY The state government held a detailed high-level meeting with industry stakeholders to discuss a legal framework for regulating the online gaming industry Kharge said that the proposed legislation will look to curb online gambling and betting while supporting innovation in the skill-based gaming industry State home minister G Parameshwara said a panel will soon…
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Clients Not In Hurry To Adopt AI Tools: Zoho ManageEngine CEO
SUMMARY Ganesan said that Zoho has built a separate leadership team, which has been tasked with overseeing AI product development over the next two years Bessemer’s Puri said that said that SaaS startups need to prove “value addition and cost efficiencies” to customers by GenAI introduction As per Inc42 data, the Indian AI ecosystem is…
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The AI Agent Era Requires a New Kind of Game Theory
At the same time, the risk is immediate and present with agents. When models are not just contained boxes but can take actions in the world, when they have end-effectors that let them manipulate the world, I think it really becomes much more of a problem. We are making progress here, developing much better [defensive]…
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Donald Trump Wants to Save the Coal Industry. He’s Too Late
The promise of new demand is driving some utilities to reconsider scheduled coal plant retirements. In Virginia, where Amazon Web Services keeps 96 data centers and is investing $35 million to expand its campuses, the regional transmission organization, PJM Interconnection, requested a delayed retirement of two coal plants due to increased demand from data centers.…
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JM Financial Cuts Info Edge’s Price Target
SUMMARY The brokerage firm slashed Naukri.com’s parent company’s PT to INR 7,800 from INR 8,750 earlier Explaining its rationale for the revision in PT, JM Financial highlighted the recent correction in the stock price of Info Edge’s investee companies Zomato and PB Fintech It also gave a moderate billing growth forecast for Info Edge’s bread-and-better…
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Apple Exported iPhones Worth INR 1.5 Lakh Cr From India In FY25
SUMMARY This also marks a 76% year-on-year (YoY) jump and doubling Apple’s committed target under the PLI scheme which stood at INR 74,900 Cr for FY25 Vaishnaw announced on X, FY25 saw the highest ever INR 2 Lakh Cr smartphone exports in a fiscal Also, Apple almost doubled its iPhone exports from India in March,…
