Google-backed startup Adda247’s revenue jumped 88% to INR 243.39 Cr. They also managed to decrease their net loss by 66% to Rs 101 crore. This growth was attributed to their existing verticals focusing on government job exams and UPSC and the introduction of new verticals like K13 (CUET, NEET & JEE), which contributed around 15% to their total revenue. Furthermore, they were able to reduce expenses, from Rs 425 crore in FY23 to Rs 344 crore in FY24. A significant portion of this reduction was seen in employee benefits, totaling Rs 125 crore, and other expenses amounting to Rs 170…
Author: Editorial Team
Johnny Wactor, known for his role as Brando Corbin on the long-running TV show General Hospital, has died at the age of 37. He was shot early Saturday morning in Los Angeles during a suspected robbery. According to his mother, Scarlett Wactor, he did not resist when confronted by the suspects, but they still shot him. The suspects ran away and have not been caught yet. The police have not shared details about them. The LAPD reported that a man was fatally shot around 3:00 am on Saturday near Pico Boulevard and Hope Street. Johnny Wactor, ‘General Hospital’ Actor, Shot…
Sony Pictures Networks India announced that NP Singh, who had been with the company for 25 years, would step down as the managing director and chief executive officer. In his statement, Singh shared, “After almost 44 years in my career, including 25 rewarding years at SPNI, I’ve decided to leave my position as MD and CEO. I now plan to focus on social change and move from operational roles to advisory ones.” Singh emphasized his continued dedication to SPNI, saying, “Even though I am stepping down, my commitment to SPNI’s success remains strong. During my time here, we have set…
Park Seo Joon was rumored to be dating American actress Lauren Tsai after they were seen spending time together in Japan. On May 23, a photo sparked the rumors that the two actors were dating. Park Seo Joon’s agency, Awesome Entertainment, addressed the new dating rumors involving Lauren Tsai. Park Seo Joon’s Agency Addresses Dating Rumors Awesome Entertainment, Park Seo Joon’s agency, explained that Park Seo Joon has been working overseas to attend a brand event, which included many artists and officials. The agency said it’s difficult to confirm anything about his private life beyond his official schedule. According to…
Paytm’s parent company, One97 Communications, reportedly seeks to significantly reduce its employee costs this fiscal year. According to a report by Financial Express, Paytm plans to lay off around 15-20% of its workforce, amounting to 5,000-6,300 employees. This strategic move aims to save Rs 400-500 crore amidst the company’s growing losses. The decision reflects Paytm’s efforts to streamline operations and address financial challenges. Employee Cost Reduction Strategy Amid Paytm Layoffs In the last fiscal year (FY23), Paytm’s parent company, One97 Communications, had about 32,798 employees, with 29,503 actively working. Each employee costs around Rs 7.87 lakh on average. However, in…
Snapchat is strengthening the leadership team in India by adding new key people, focusing on content, partnerships, augmented reality (AR), growth, and sales. They’ve doubled their team size in India since last year. Saket Jha Saurabh is joining as the director for content, partnerships, and AR, bringing experience from Meta, Bloomberg, and Fame Digital. Chirag Kohli is also joining to lead growth efforts, focusing on getting more users, keeping them engaged, and expanding revenue. These hires are part of Snap’s plan to strengthen its presence in India, an important market for its growth. Snapchat Strengthening Leadership Team in India Amit…
The first day of Microsoft’s three-day Build developer conference focused on “AI” (artificial intelligence). The event, held in Seattle with 4,000 attendees, will feature new AI tools, From GPT-4 to AI-powered Windows PCs. Over the three days, Microsoft will announce over 60 new products and solutions. The most significant announcement was the launch of OpenAI’s latest large language model (LLM), “GPT-4o,” on Azure AI Studio and as an API. According to Microsoft, this new LLM can take text, images, and audio inputs. Additionally, Microsoft introduced a new multimodal model in the Phi-3 family of small language models (SLMs) called Phi-3-vision.…
ixigo, an online travel aggregator, and its operator company, Le Travenues Technology Ltd, received SEBI approval for an IPO worth over INR 120 Crore. This means they can now raise funds from the public. SEBI issued a notification on May 14 confirming this. Similarly, Bansal Wire Industries, a steel wire manufacturer, also got the green light for its IPO. Both companies filed their initial IPO papers earlier this year and received approval between May 14-17. For Le Travenues Technology Ltd, the IPO will involve issuing fresh equity shares worth Rs 120 crore and selling existing shares through an Offer For…
Bollywood superstar Shah Rukh Khan was admitted to Ahmedabad hospital due to heat stroke. He was in Ahmedabad to watch the Indian Premier League (IPL) match between his team, Kolkata Knight Riders, and Sunrisers Hyderabad on Tuesday. According to reports, Shah Rukh was dehydrated because of the high temperature of 45 degrees Celsius in Ahmedabad. He is currently under medical observation, but his condition is stable. Security around the hospital has been increased. Shah Rukh Khan Admitted to Ahmedabad Hospital Due to Heat Stroke Actor Shah Rukh Khan was hospitalized on Wednesday afternoon because of a heatstroke, according to PTI.…
Fintech giant Paytm reports a Rs 550 Crore loss in the quarter ending in March 2024, up from a loss of Rs 169 crore in the same period last year. Revenue dropped 3% YOY (year-on-year) to Rs 2,267 crore, compared to Rs 2,334 crore in the previous year. The company’s performance was affected by temporary disruptions from the UPI transition and ongoing issues due to the Paytm Payments Bank embargo. Paytm Reports Increased Loss in Q4 and Revenue Drops 3% YOY EBITDA before ESOPs fell to Rs 103 crore, down from Rs 234 crore in the same quarter last year.…