Paytm is in advanced talks to sell its movie and events ticketing business to Zomato, focusing on its core payments and financial services. Zomato aims to strengthen its 'going-out' vertical with this acquisition. No binding decision yet. #paytm#zomato#fintech#technews
In a significant setback for education tech giant Byju's, BlackRock, a major investor, has declared its stake in the company worthless. Once valued at $22 billion in 2022, Byju's now faces severe financial and operational challenges. Byju's struggles highlight the volatile nature of the ed-tech industry post-pandemic. The company, previously a shining star in India's startup ecosystem, now grapples with the fallout from overexpansion and a shifting educational landscape.
Ola Electric Secures Approval for $660M IPO, Set to Be India’s First EV Stock Listing
Ola Electric, India's largest e-scooter maker backed by SoftBank and Temasek, has received regulatory approval for its $660 million Initial Public Offering (IPO). The company plans to list its shares by mid-July, marking the country's first EV stock listing. Ola filed for approval with the Securities and Exchange Board of India last December to aid its operational expansion. The company, valued at $5.4 billion in September 2023, will now reach out to investors to assess demand for its issue.
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Mukesh Ambani's Jio Financial Services Unveils App to Rival PhonePe and Paytm
Jio Financial Services, led by Mukesh Ambani, has launched the beta version of the 'JioFinance' app. The app offers UPI payments, digital banking, bill settlement, and insurance advisory, aiming to compete with Google Pay, PhonePe, and Paytm. Available on Google Play Store, it promises an all-in-one financial solution for users.
Reliance and Disney's groundbreaking merger, valued at over $8.5 billion, has been officially approved by the Competition Commission of India (CCI). This strategic alliance brings together two of India's most prominent entertainment companies, creating a formidable force in the industry. The combined entity boasts a massive portfolio of 120+ TV channels and popular streaming services like Hotstar and Disney+, positioning it as a dominant player in the Indian entertainment market.
The merger is expected to drive innovation, expand content offerings, and enhance consumer experiences. By combining their strengths, Reliance and Disney aim to offer a wider range of entertainment options to Indian audiences, including movies, TV shows, sports, and original content. The deal also has the potential to boost the Indian entertainment industry's global reach and competitiveness.
