It’s Friday and we are breaking a big story as we roll into the weekend. Flipkart cofounder Binny Bansal is eyeing an over $100 million stake in online payments major PhonePe. The deal is in the works, per sources.
PhonePe deal to be among largest individual investments in a new-age firm; Bansal also finalising $25-30 million funding in Curefoods.
What started eight months ago, with investors asking for profitability, tighter control on costs and unit economics, to layoffs and downsizing, has now turned into a full static mode for the past few months. To add to this, a bunch of companies have seen major corporate governance lapses, highlighting how the excesses of previous years are throwing up concerns about basic business fundamentals.
In January, Bankman-Fried pleaded not guilty to the original eight counts that he cheated investors and caused billions of dollars in losses, in what prosecutors have called an "epic" fraud.
Instagram was down for thousands of users globally on Wednesday, according to outage tracking website Downdetector.com.
Activities related to initial public offerings (IPO) in the United States came to a standstill for more than a year as the U.S. Federal Reserve's aggressive monetary-tightening policy sucked out easy money from the system.
The shift will mark the first time that India becomes its own sales region at Apple, which has seen demand surge in the country.