The FinTech Hub
Source: Live Mint Oyo Hotels has delayed its initial public offering (IPO) plans for the third time amid opposition from its largest shareholder, SoftBank Group Corp., and continued market volatility, Bloomberg News reported on Friday. The company first filed for the IPO in 2021, seeking a valuation of up to $12 billion. In March 2023,…
Source: Live Mint I’m sure you’ve been looking at the announcements that India has made on its AI program. You were here sometime back and you made these comments—about how India was better off not trying to do its own frontier model—that became controversial. Has your view changed? And do you think the Indian AI…
Source: Live Mint What is the Stargate Project? Announced on Tuesday, it is a new company that intends to invest $500 billion over the next four years to build new artificial intelligence (AI)-focused data centres across the US. The joint venture among OpenAI, Oracle Corp., SoftBank Group Corp., and MGX, which will begin deploying $100…
Source: Live Mint SoftBank Group, OpenAI and Oracle have announced that they are forming a $500 billion joint venture in order to fund artificial intelligence infracture in the United States with a new joint venture dubbed ‘Stargate’. The announcement was made by OpenAI CEO Sam Altman, SoftBank CEO Masayoshi Son and Oracle Chairman Larry Ellison…
Source: Live Mint ChatGPT-owner OpenAI is allowing its employees to sell roughly $1.5 billion worth of shares in a new tender offer to Japan’s SoftBank Group, two sources familiar with the matter told Reuters on Wednesday. SoftBank’s billionaire CEO Masayoshi Son has been persistent in seeking a larger stake in the startup after investing in…
Source: Live Mint “It is a momentous event. We have raised a huge amount of capital in the middle of a tough market, which is a great feat,” Sumer Juneja, managing director for EMEA & India at SoftBank Investment Advisors, told Mint. Swiggy had raised $3.2 billion in private capital in total from marquee investors…
Source: Live Mint SoftBank Group Corp. swung to a quarterly profit on a series of successful Indian listings and a rebound in tech valuations that boosted the Vision Fund portfolio. The Tokyo-based company earned a net income of ¥1.18 trillion ($7.7 billion) in the September quarter, compared with a net loss of ¥931 billion last…
Source: Live Mint Indian food-delivery platform Swiggy Ltd. is considering filing publicly for its domestic initial public offering as soon as this week, people familiar with the matter said, adding to a strong pipeline of share sales in the country. Swiggy’s IPO may seek to raise more than $1 billion, the people said, asking not…
Source: Business Standard 3 min read Last Updated : Aug 02 2024 | 5:18 PM IST E-commerce firm Meesho has strengthened its board with the appointment of four independent directors, including a former CII president and a JPMorgan veteran, the firm said on Friday, as it expressed confidence that the new members would help…
Source: Business Standard Prathyusha Agarwal, Business Head, Shopsy 4 min read Last Updated : Aug 07 2024 | 10:50 PM IST Flipkart’s hyper-value e-commerce platform Shopsy is intensifying efforts to tap over half of the 821 million internet users (about 442 million) in rural India. These efforts are being led by Prathyusha Agarwal,…
