Page 42 - Companies

Pocket FM expects to reach $100 mn annual revenue run rate by Sept 2023

Audio content app Pocket FM expects to reach an annual revenue run rate (ARR) of USD 100 million by September 2023, the company said on Tuesday. This implies that the company will be able to achieve at least USD 100 revenue by September 2024 if its growth remains consistent. "As we successfully discovered the content monetisation model in the audio space, our revenue has grown 10 times to USD 25 million ARR in just 12 months. "With the continued momentum and expected growth targets, we foresee another 4X growth in our revenue during our fifth year of operations, thus entering into the USD 100 million ARR club within five years of our operations," Pocket FM Co-founder and CEO Rohan Nayak said in a statement. Driven by micro-payment features on the platform, Pocket FM claims to have registered a 10-fold revenue growth during its fourth year of operations, with over 500,000 monthly transactions. The company also said that it has strengthened its creator community to over 500,000 ...

5 habits of successful cos: From thinking long-term to competing fairly

Remember when Facebook was celebrated as an agent of global harmony? Now known as Meta Platforms Inc., it is widely reviled as a poisoner of democracy

Reliance may retain Metro India's top management post-acquisition: Report

The acquisition includes 31 wholesale distribution centres, land and other assets owned by Metro

Top IT services firm hit the pause button on hiring amid weak earnings

However, fears of an impending recession and declining profitability have together contributed in the change of mood for these IT services companies, along with their approach

Meta Platforms' India staffers on edge over layoff media reports

The global tech giant is struggling, but its India unit is performing rather well

Why Musk's takeover of Twitter and the layoffs will shrink free speech

Musk's vision for Twitter is not particularly complex. He views it as a software platform first, and only then as a social network

Britannia investors see 'Good Day' after strong Q2, stock surges 9%

FMCG major has been gaining market share for 38 consecutive quarters now, stands at 15-yr high

Reliance Jio takes a bold call on financial services amid tough competition

By separating financial services from its core business through the listing, RIL wants to keep it at arm's length, which would be a necessary regulatory requirement for the financial services business

Jio Payments likely to become subsidiary of Jio Financial Services

Sources in the know say that this 70 per cent stake held by RIL will be transferred to JFS. SBI will continue to own the rest of the 30 per cent in RPB

India Cements posts Q2 loss of Rs 113 cr on input cost spike, lower volumes

Revenue from operations up 7% YoY; firm had posted Rs 30 cr profit a year ago

Unacademy gives pink slips to 350 employees in second round of layoffs

CEO Gaurav Munjal apologises to staff, says market challenges forced relook at commitment of no layoffs

Tata Motors beats target, becomes India's first to roll out 50,000 EVs

The firm which entered EV market in 2020, is now focusing on a three-phased architecture approach for such vehicles and plans to launch 10 EVs in five years

IndiGo, Go First weighed down by grounded planes and engine shortages

IndiGo confirms 30 planes on ground, plots alternate strategies for capacity growth

Brookfield India's net dips 61% to Rs 27 crore, net operating income up

The company's sales rose 43.40 per cent to Rs 303.60 crore in the July-September quarter, from Rs 211.71 crore during the previous quarter ended September 2021

Why pay $8 when you get everything free on our platform: Koo co-founder

In a Q&A, Aprameya Radhakrishna, who is also the CEO of the made-in-India microblogging platform, says Koo is even open to hiring those Twitter sacked and that verification on Koo is free for life

Coal India Q2 net profit zooms 106% to Rs 6,044 crore on high sales

The company's profit for the first half of the fiscal year spiked 143 per cent to Rs 14,878 crore

Airtel CEO Gopal Vittal elected deputy chair of GSMA for two years

Member companies selected 26 board members for 2023-24 which include senior executives from mobile operators

Aditya Birla Group, Nippon Life in talks to merge Indian life insurance JVs

The talks were initiated after a court-appointed administrator of Reliance Capital put the 51% stake in Reliance Nippon Life on sale

L&T Realty, CapitaLand tie up to develop 6 mn sq ft of prime office space

L&T will build and develop the spaces, CLINT will market them; most of the projects are to be started from the second half of 2024

Twitter losing $4 million a day, India revenue a small percentage

The microblogging site's business in the country has managed to make a profit for the past seven fiscal years