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.
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.
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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
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