The Flipkart Group, a homegrown consumer internet ecosystem, on Monday said it raised $3.6 billion to fund its digital commerce activities in India. The fundraise seen participation from global investors, including sovereign funds, private equity and crossovers in addition to Walmart. The new investment values Flipkart Group at $37.6 billion. This round of funding was … Read more
Amazon India’s recently held Small Business Days (SBD) has helped more than 84,000 Small and Medium Businesses (SMBs) to bounce back from the economic disruptions caused by the second wave of Covid-19, the company said on Sunday. The three-day event was held between July 2 and 4. Of the 84,000, 68 per cent of the … Read more
South Korean electronics major Samsung has not applied for the production-linked incentive scheme for telecom gear manufacturing, while Swedish telecom gear maker Ericsson is participating through its vendor Jabil Circuit. The government is learnt to have received 37 applications for the scheme, including from leading global manufacturers like Foxconn and its subsidiary Rising Star, Flex, … Read more
Back when he was a nervous summer intern in the high-pressure Wall Street offices of Goldman Sachs, Shreevar Kheruka was put on the spot right on the second day at work. While he was keeping an eye on the terminal of his boss, who had stepped out, a message from an executive at another top … Read more
Instacart’s ad business generated hundreds of millions in sales last year. It’s led by an exec who grew Amazon’s ad operation into a Google and Facebook competitor. Some advertisers say Instacart doesn’t share enough strong data to make it worth larger investments. See more stories on Insider’s business page. Instacart is building an advertising business … Read more
For Reliance Industries’ Chairman, Mukesh Ambani future belongs to organizations that will lead and leverage the digital revolution. In his address to shareholders in the company’s annual report released on Wednesday, Ambani said, “As technology becomes a driving force in all businesses and facets of life, the future belongs to organizations that can lead and … Read more
Nestle candy products are displayed the company’s news conference in New York October 22, 2010. Nestle, the world’s biggest food group, beat forecasts with a 5.7 percent rise in nine-month underlying sales thanks to strong demand in emerging markets, price rises and a thriving Nespresso coffee business. REUTERS/Brendan McDermid The majority of Nestlé’s food and … Read more
Major chip manufacturer Qualcomm introduced an updated laptop processor, the Snapdragon 7c Gen2. Designed to power entry-level laptops, it will yield better performance and battery life. Although it’s not challenging Apple yet, Qualcomm is helping improve both PC hardware and software. See more stories on Insider’s business page. On Monday, major chip manufacturer Qualcomm introduced … Read more
Jeff Bezos sold $1.7 billion of Amazon.com Inc. stock, bringing the amount he’s unloaded this month to about $6.7 billion. Bezos sold 521,936 shares under a pre-arranged trading plan, according to U.S. Securities and Exchange Commission filings. That brings the total sold in three batches in May to 2 million shares. He said in … Read more