wayr today India

Category: General

  • Info Edge’s Naukri CBO Resigns Amid Revenue Growth

    This article was generated by AI and cites original sources.

    Info Edge (India) Ltd, the parent company of Naukri.com, 99acres, and Jeevansathi, has confirmed the resignation of its Chief Business Officer (Naukri) and Whole-time Director, Pawan Goyal. Goyal, who has been with the company for seven years, is stepping down to pursue other interests, as reported by Entrackr : Latest Posts.

    Goyal will remain in his role until May 31, 2026, after which he will relinquish all responsibilities, including his board committee positions. During his tenure, Goyal led the business to a 16.8% Compound Annual Growth Rate (CAGR) and saw the operating profit before tax (PBT) margin increase from 53% to nearly 57%.

    Despite Goyal’s departure, Info Edge reported a 12% year-on-year rise in standalone revenue to Rs 747 crore in Q3 FY26. As the overseer of the Recruitment Solutions segment, which includes Naukri.com, Goyal played a key role in driving revenue growth. The segment contributed Rs 548 crore in Q3 FY26, up from Rs 494 crore in the previous year.

    Following Goyal’s exit, the company is yet to announce a successor for the Chief Business Officer position. Info Edge (India) Ltd recently finalized its exit from Shopkirana through a share swap deal with Trustroot Internet Private Limited, the parent company of Udaan, and also sanctioned an investment commitment of up to Rs 250 crore to A88 Fund.

    As of midday today, Info Edge’s shares are trading at Rs 972 each, with a total market capitalization of Rs 63,130 crore (approximately $6.8 billion).

    Source: Entrackr : Latest Posts

  • Oracle Streamlines Operations, Cutting 20% of India Workforce Amid Fintech IPO Delays

    This article was generated by AI and cites original sources.

    Oracle, a global tech company, has implemented a strategic shift towards AI, resulting in 10,000 job cuts in India, which accounts for 20% of its local staff. This move reflects the broader impact of geopolitical uncertainties on the tech sector, as fintech companies facing market volatility have been forced to recalibrate their IPO plans.

    Investors like Accel’s growth fund, Bessemer Venture Partners, and Susquehanna International Group have been actively involved in funding rounds, with Sahi, a prominent player, eyeing an $80 million investment. This potential investment could substantially increase Sahi’s valuation to approximately $250 million, showcasing the ongoing financial activities within the tech ecosystem.

    Amidst these developments, discussions of acquisitions, such as Dhan’s potential acquisition of Infinyte Club, illustrate the dynamic nature of the tech market and the strategic maneuvers companies undertake to strengthen their positions.

    Source: Tech-Economic Times

  • Uber Shifts Focus to Corporate Commute Solutions as it Discontinues Shuttle Service in Delhi NCR

    This article was generated by AI and cites original sources.

    Uber has announced the discontinuation of its Shuttle service in Delhi NCR, marking the end of its bus-based commute offering in India. The decision to halt the service comes after low ridership and high operating costs led to similar exits from Mumbai and Hyderabad last year.

    Shuttle, which allowed users to pre-book seats on fixed-route buses for office commutes between New Delhi, Gurugram, and Noida, will cease operations on March 27. Despite its closure, Uber is strategically shifting its focus to Employee Transportation Services (ETS) to meet the growing demand for corporate commute solutions.

    An Uber spokesperson stated, ‘Shuttle helped us build valuable insights in high capacity mobility, which we are now leveraging in the ETS segment. This move aligns with the shift towards a fast-growing corporate commute sector with predictable demand and higher utilization.’

    This shift towards ETS services follows Uber’s recent infusion of nearly Rs 3,000 crore into its Indian subsidiary, reflecting the company’s commitment to adapting to evolving market needs. The consolidation of financial statements for FY25 showed a significant decline in net revenue from ride-hailing, falling from Rs 807 crore in FY24 to Rs 88 crore in FY25.

    Source: Entrackr : Latest Posts

  • Microsoft Invests $5.5 Billion in Singapore’s Cloud and AI Infrastructure

    This article was generated by AI and cites original sources.

    Microsoft is set to invest $5.5 billion in cloud and artificial intelligence infrastructure in Singapore by 2029, according to a report by the Wall Street Journal. This significant investment underscores Microsoft’s commitment to expanding its technological footprint in the region.

    The focus on cloud and AI infrastructure highlights Microsoft’s strategic emphasis on cutting-edge technologies. By bolstering these capabilities in Singapore, Microsoft aims to enhance its global presence and offer advanced cloud services and AI solutions to businesses and consumers alike.

    This substantial investment is expected to drive economic growth in Singapore and fuel innovation and technological development in the country. With cloud computing and AI playing increasingly vital roles in various industries, Microsoft’s investment is poised to have a far-reaching impact on the tech landscape.

    Microsoft’s approach to investing in Singapore’s tech infrastructure aligns with the company’s vision of leveraging technology to drive progress and empower businesses worldwide.

    Source: Tech-Economic Times

  • IAMAI Expresses Concerns Over NHRC’s Notice on AI Companies’ Data Protection Breaches

    This article was generated by AI and cites original sources.

    The Internet and Mobile Association of India (IAMAI) has expressed concerns regarding the National Human Rights Commission’s (NHRC) notice to AI platforms for alleged breaches of the Digital Personal Data Protection (DPDP) Act, 2023. IAMAI has conveyed its apprehension to the Ministry of Electronics and Information Technology (MeitY) about the perceived ‘overreach’ in the NHRC’s actions.

    While the NHRC’s notice aimed to address potential violations of data protection regulations by AI companies, IAMAI’s response highlights the delicate balance between regulatory oversight and technological advancements in the digital landscape. The incident underscores the evolving challenges faced by tech firms in ensuring compliance with data privacy laws while fostering innovation.

    As the debate unfolds between regulatory bodies and industry stakeholders, the intersection of AI technologies and data protection policies continues to draw scrutiny. IAMAI’s response signifies the industry’s vigilance towards maintaining a regulatory environment that supports responsible data practices without hindering technological progress.

    Source: Tech-Economic Times

  • Meghalaya Partners with Starlink for Satellite Internet Pilot

    This article was generated by AI and cites original sources.

    The Meghalaya government has signed a memorandum of understanding (MoU) with Starlink, the satellite communications company, to initiate a pilot program for satellite internet services in remote areas of the state. This collaboration aims to evaluate the feasibility of providing high-speed internet connectivity across Meghalaya before potential broader implementation.

    Through this partnership, the state government plans to utilize satellite broadband services to enhance various sectors such as healthcare, education, and agriculture. Chief Minister Conrad Sangma highlighted the importance of this initiative in bridging the connectivity gap and improving access to critical services like healthcare, education, and economic opportunities for rural communities.

    The pilot project will assess the reliability and efficiency of the satellite technology in delivering internet services throughout Meghalaya, focusing on enhancing connectivity in underserved regions. This initiative aligns with the state’s vision of establishing Shillong as a prominent IT and technology hub in the North-East region, fostering digital growth and innovation.

    Source: Inc42 Media

  • Franklin Templeton Expands Crypto Footprint with 250 Digital Acquisition

    This article was generated by AI and cites original sources.

    Franklin Templeton, a prominent investment firm, has announced its acquisition of 250 Digital, a crypto investment company. The newly acquired entity will operate under the name Franklin Crypto, with the deal set to be finalized in the second quarter of 2026. This strategic move represents Franklin Templeton’s commitment to expanding its presence in the digital asset space, leveraging its existing involvement in blockchain and digital asset initiatives.

    Source: Tech-Economic Times

  • SpaceX Expands into Artificial Intelligence, Diversifying Beyond Rocket Launches

    This article was generated by AI and cites original sources.

    SpaceX, led by CEO Elon Musk, is preparing for a highly anticipated stock market debut, poised to potentially make history with the largest offering to date. While the company has built its reputation on groundbreaking rocket launches and the innovative Starlink internet service, its recent acquisition of xAI showcases a strategic move towards diversification into artificial intelligence.

    SpaceX’s development of the Starship for upcoming lunar and Mars missions underscores its ambitious push towards space exploration. The company’s financial reports reveal substantial revenue growth, indicating a robust business trajectory that extends beyond traditional aerospace ventures.

    This expansion into artificial intelligence aligns with industry trends and positions SpaceX at the forefront of technological innovation. By incorporating AI capabilities into its existing portfolio, the company aims to enhance operational efficiency, optimize mission planning, and potentially revolutionize space exploration methodologies.

    Source: Tech-Economic Times

  • Italy Proposes Regulations to Address Social Media Addiction

    This article was generated by AI and cites original sources.

    Italian legislators are advocating for new regulations to address social media addiction, focusing on holding online platforms accountable for their content delivery methods. The proposed bill aims to eliminate default user profiling and require transparent explanations for algorithmic decisions. This initiative mirrors the escalating European concern regarding digital platforms and their effects, particularly on the younger demographic.

    Source: Tech-Economic Times

  • SpaceX Prepares for Landmark IPO with Project Apex: A Pivotal Moment in Space Exploration

    This article was generated by AI and cites original sources.

    SpaceX, the renowned rocket company, is gearing up for a monumental initial public offering (IPO) that could reshape the dynamics of both the financial and aerospace sectors. In a strategic move, SpaceX has enlisted the support of more than 20 banks for its upcoming IPO, internally dubbed as Project Apex. The highly anticipated listing is projected to take place in June, with industry experts speculating that SpaceX could attain a significant market valuation.

    This IPO marks a pivotal moment for both Wall Street and the aerospace industry. The listing not only signifies a significant financial event but also underscores the growing intersection of technology and space exploration. As SpaceX continues to advance its initiatives in space technology, this IPO could provide the company with the necessary capital to further its groundbreaking work in space travel and satellite deployment.

    Source: Tech-Economic Times