Page 2 - Tech Firms

Don't like Musk? Work for us: Tech firms woo ex-Twitter employees

Put off by Elon Musk's muscular management style? Move to us! That's the pitch being used by talent-starved technology firms trying to lure thousands of former Twitter Inc employees laid off

Xebia to hire 1,200 people in India by March; eyes emerging tech firms

US-based IT company Xebia is planning to hire 1,200 staff in India by March 2023 as the firm sees growth opportunities in the digital transformation space despite a weak macroeconomic situation, a top company official has said. Xebia Global CEO Anand Sahay told PTI that all enterprises are looking towards transformation and demand in the segment is high, which is the reason the company is opening up new centres across the globe, including India, and also planning to acquire firms working on artificial intelligence, cloud computing, augmented and virtual reality etc. He said that based on demand assessment, the company is running short of 1,700 people and even at a conservative estimate Xebia will need 1,200 people by the first quarter of 2023. "We have started operating in Colombia now. We might start in Chile by the end of the first quarter. We are looking forward to growing our Chennai centre. "We are about 200 people in Bhopal and we feel that it should go up to at least 500 peo

Tencent to hand $20 billion Meituan stake to shareholders as sales slip

Meituan said it would maintain its mutually beneficial business relationship with Tencent after the divestment, which comes as the Shenzhen-based tech giant shuts some unprofitable businesses

Kaynes Tech IPO subscribed 34x, Keystone receives 8% bid on Day 1 & more

Kaynes Tech reported a net profit of Rs 10.05 crore and net sales of Rs 199.27 crore in the three months ended on June 2022

Pandemic boom to season of layoffs: How big tech and startups got it wrong

It is not just Meta which is looking at becoming capital efficient. Alphabet, the parent company of Google and Microsoft have already sent messages that focus will be on increasing productivity

Should you bet on new-age tech stocks after a mixed Q2?

Shares of new-age tech companies like Nykaa, Paytm and Zomato have fallen up to 68% from their listing prices. As they struggle with profitability, should investors keep these stocks on radar?

Amagi's valuation crosses $1.4 bn amid funding woes, raises $100 mn

The media technology provider has raised over $100 mn in investment, inclusive of $80 million in primary capital, from global growth equity firm General Atlantic

VC firm Quona Capital announces close of its third fund at $332 mn

Company has invested in more than 17 start-ups in India, has almost 30% of its global team in country

Musk warns impersonating Twitter accounts may lead to permanent suspension

Over the weekend, several Twitter accounts had changed their name to "Elon Musk" or to usernames that suggested those handles were of the tech billionaire

Big tech's dirty supply chains undercut climate promises from headquarters

Amazon.com Inc, Microsoft Corp, and Alphabet Inc have pledged to run their own operations on 100 per cent clean power. But their suppliers remain deeply reliant on fossil fuels

As consulting firms enter tech, problems grow for Indian IT companies

European clients, which typically account for a quarter to a third of Indian firms' sales, are almost certain to cut their tech budgets - at least until the war in Ukraine comes to an end

30% rise in tech firm's e-commerce platforms sales in early festive season

E-commerce platforms during the first week of festive season are estimated to have registered 30 per cent growth year-on-year, inventory and warehouse management tech firm EasyEcom said on Wednesday. EasyEcom said that e-commerce volume will grow more in Tier-2 and Tier-3 towns compared to Tier-1 cities, with non-metros driving nearly 80 per cent of the total e-commerce sales along with Tier-2 towns adding about 60 per cent to the figure. "The first week of the festive sales across e-commerce platforms in India will exceed the gross merchandise value on non-sale days by five times, projecting a figure which will be around 1.3 times up from last year," EasyECom said. The company said that its analysis is based on data captured by its software-as-a-service platform which focuses on omnichannel inventory & warehouse management and reconciliations. The company has seen a 14 per cent growth in product lines on e-commerce platforms. "The subdued performance of the first quarter due to .

True North acquires minority stake via own fund in Accion Group for $93 mn

Accion Labs is focused on digital transformation in global enterprises and tech firms. It has more than 4,800 employees globally, spread over 20 locations

Sebi has no business to suggest IPO pricing of new-age tech firms: Chief

Sebi chairperson Madhabi Puri Buch on Tuesday said the capital markets regulator has no business to suggest pricing of the initial share sale of new-age technology companies. She, however, quickly added that there needs to be more disclosures by companies on how valuations have changed between a pre-initial public offering (IPO) placement and the price which is being asked for in the issue. "A lot has been said about the pricing of IPOs of tech companies at what price you choose to do the IPO is your business, we have no business to suggest otherwise," Buch said addressing the annual Capital Markets summit organised by industry lobby Ficci here. Buch, the career-banker-turned-regulator and the first woman chair of Sebi, explained through an example of a company selling shares to investors at Rs 100 and then asking for Rs 450 in an IPO within a few months. She said a company is free to ask for a higher price, but needs to disclose what happened in the intervening period which justif

Sachin Bansal-led Navi Tech gets Sebi green signal for Rs 3,350 cr IPO

The firm provides digital-first distribution of personal loans, home loans and health insurance to customers without the need of physical infra

Tech firms, telcos in India urge central govt to control internet shutdowns

The government in 2019 had said emergency internet shutdowns were a matter for states in the interest of law and order

Profits elusive for Amazon India despite $6.5 bn investment: Bernstein

Company faces 'immense competitive pressure' and unfavourable regulatory environment, says US research group

Linktree sacks 17% of employees in latest round of tech pink slips

With a reported 300-strong workforce, the mass layoff amounts to about 50 staff members

US retailer Macy's tech expense cut likely to hurt Indian IT giants

Macy's is among the first US retailers to announce spending cuts

Sooner or later, US recession will come knocking at India's tech-hub door

India's tech industry is ruling out a US recession. Or so you would think from Infosys Ltd.'s cheery forecast of 14 per cent to 16 per cent annual revenue growth