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Online gaming firms aren’t getting any immediate relief from their Goods and Services Tax (GST) woes, as tax notices stand on firm legal ground, Central Board of Indirect Taxes and Customs chairman said.
Nithin Kamath, cofounder & CEO, Zerodha, said they value the stockbroking company at 10 to 15 times of its profit after tax (PAT). This and more in today’s packed edition of ETtech Top 5
With the festive season just weeks away, online marketplaces are lining up steep discounts to cash in on the customer demand for smartphones, electronics and FMCG products.
The government notified the new Angel Tax rules on Tuesday, retaining the five valuation methodologies suggested in the draft rules. The rules aim to fix the fair market value of startups.
Troubled quick commerce startup Dunzo may finally find some relief, but conditions will apply. The startup could soon close a funding round of $30-35 million, but will have to significantly cut its cash burn and reduce headcount.
Apple has emerged as the largest exporter of smartphone shipments from India, after overtaking its closest rival Samsung. In just a year, its share rose from 9% of the total shipments in 2022 to nearly 50% in 2023.
Ecommerce platform Dealshare has sacked 130 employees and shut down its business-to-business vertical, just over a month after Vineet Rao stepped down as chief executive.
Change is constant at edtech major Byju’s these days. Former UpGrad CEO Arjun Mohan has now been appointed CEO of the company’s India business. Mohan, who had spent 11 years at Byju’s in a senior role during an earlier stint, will replace Mrinal Mohit, who will exit the company after a decade.
The Centre, not fully satisfied with the information provided by Starlink for offering satellite broadband services in India, wants an undertaking of unconditional compliance if the Elon Musk-owned company does not provide details of data storage.
It’s been a day for top-level exits. The really big one: Bob van Dijk, CEO of Dutch-listed technology investment firm Prosus and its parent Naspers, has stepped down in a sudden move.
Homegrown microblogging platform Koo is looking for fresh funding or a strategic partnership to further its “next phase of growth,” cofounder Mayank Bidawatka said on Friday.
Powerful contenders, an eminent jury, in-depth dossiers, tension-packed tiebreakers… The meeting to finalise the winners of the Economic Times Startup Awards – 2023 was an action-packed affair. Each of the eight awards was chosen after a lot of intense back and forth, with the most prestigious one going to business-to-business (B2B) ecommerce company OfBusiness. Find out why, and much more, in today’s ETtech Top 5.
Apple unveiled its iPhone 15 series and Watch Series 9 during its ‘Wonderlust’ event Tuesday. This and more in today’s ETtech Top 5.
Temasek-backed Vertex Ventures has raised $541 million to mark the final close of its Fund V, which will also focus on investing in women-led startups.
Byju's has begun selling its group assets as it puts Epic and Great Learning on the block to generate $800 million-$1 billion in cash.
Mukesh Ambani-led Reliance Industries has tied up with chipmaker Nvidia to develop India’s own foundation large language model. The petrochemicals-to-telecom conglomerate is also exploring an entry into semiconductor manufacturing.
As India gears up to host the G20 Summit from Friday, cryptocurrency is expected to be an important topic of discussion at the high table, potentially paving the way for a global regulatory framework. This and more in today’s ETtech Top 5.
In a setback for online gaming firm Gameskraft, the Supreme Court has overturned the Karnataka High Court's order that quashed a GST notice against it for alleged evasion of Rs 21,000 crore.
The Reserve Bank of India (RBI) has instructed banks to open up pre-sanctioned credit lines through Unified Payments Interface-based transactions.
Game on! Online gaming and media firm Nazara Technologies on Monday said it was raising Rs 100 crore from Nikhil Kamath, cofounder of retail stockbroker Zerodha, via an equity share issue. This and more in today’s ETtech Top 5.
It’s still not clear whether the new CEO will lead ANI Technologies, the incorporated entity that runs Ola Cabs and its subsidiaries, including Ola Financial Services, or just the core cab hailing business.
Amazon has also signed a memorandum of understanding with India Post to create a cross-border logistics solution that will expand the opportunity of global selling for businesses.
PhonePe said in a statement that Share.Market will elevate discount broking through ‘WealthBaskets’, a market research-based technology platform that will provide stock market intelligence.
Byju’s on Tuesday said it has consolidated four verticals into two, K-10 and exam preparation, as part of moves to restructure its mainstay business.
US-based asset management firm Baron Capital has marked up the valuation of Swiggy and Pine Labs while slashing the valuation of edtech major Byju’s by almost half. This comes at a time when several Indian startups have faced valuation markdowns in the past few months.
