Tag: india
KKR to invest $1.5 billion in India’s Reliance Jio Platforms
Mukesh Ambani’s Reliance Jio Platforms has agreed to sell 2.32% stake to U.S. equity firm KKR in what is the fifth major investment in the top Indian telecom firm in just as many weeks. On Friday, KKR announced it will invest $1.5 billion in the Indian top telecom operator, a…
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Facebook’s new safety feature for women in India: Easily lock the account from strangers
Facebook has rolled out a new safety feature in India that will enable users to easily lock their account so that people they are not friends with on the platform cannot view their posts and zoom into and download their profile picture and cover photo. The feature is especially aimed…
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Indian ride-hailing firm Ola cuts 1,400 jobs
Ola said on Wednesday it is cutting 1,400 jobs in India, or 35% of its workforce in the home market, as the ride-hailing firm works to reduce its expense to steer through the coronavirus pandemic that has severely impacted mobility companies in the country. Bhavish Aggarwal, co-founder and chief executive…
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AngelList India head Utsav Somani launches micro VC fund to back 30 early-stage startups
As investors get cautious about writing new checks to early stage startups in India amid the coronavirus outbreak, AngelList’s head in India is betting that this is the right time to back young firms. On Wednesday, Utsav Somani announced iSeed, a micro VC fund to back up at least 30…
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70% of Indian startups will run out of money in less than 3 months
More than two-thirds of startups in India need to secure additional capital in the coming weeks to steer through the coronavirus pandemic, according to an industry report. 70% of startups in India, home to one of the world’s largest startup ecosystems, have less than three months of cash runway in…
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General Atlantic to invest $870M in India’s Reliance Jio Platforms
Mukesh Ambani’s Jio Platforms has agreed to sell 1.34% stake to General Atlantic, the latest in a series of deals the top Indian telecom operator has secured in recent weeks. On Sunday, New York-headquartered private equity firm General Atlantic said it would invest $869.8 million in the Indian telecom operator,…
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