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Top 5 tech and startup stories of the day

Honasa Consumer, Mamaearth's parent, addressed recent allegations, labelling them as "misinformation." This and more in today’s ETtech Top 5.

Tech & Internet

Amazon likely to face investigation under EU tech rules next year

Deepinder Goyal's controversial job posting for chief of staff receives flak online

Tech & Internet

Reddit down for thousands of users, Downdetector shows

Reddit down for thousands of users, Downdetector shows

Tech & Internet

PharmEasy halves FY24 loss to Rs 2,533 crore, revenue dips 15%

Tech & Internet

Uber said to be in talks to invest in US IPO of China’s Pony AI

Uber has tied up with several other automated driving tech firms recently, including robotaxi operator Waymo and an undisclosed investment in Wayve Technologies Ltd. It also has a robotaxi service agreement in Abu Dhabi with China’s WeRide Inc., which raised funds in an IPO in the US last month.

Insurtech startup Zopper bags $25 million in round led by Elevation Capital, Dharana Capital

The round also saw participation from existing investor Blume Ventures. The company has raised $96 million in funding till now from the likes of Creaegis, Bessemer Venture Partners, and ICICI Venture.

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Will Trump 2.0 mean good news for Indian startups?

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Government notifies amended forex rules for startups
India's amended Foreign Exchange Management Regulations 2024 simplify opening foreign currency accounts for DPIIT-recognized startups, aligning with the extended definition of startups (10 years, ₹100 crore turnover). The RBI also permits non-residents to hold interest-bearing accounts in INR or foreign currency.
Mamaearth parent dismisses distributors’ claim of Rs 300 crore unsold inventory as ‘misinformation’
Mamaearth's parent company, Honasa Consumer, refuted claims of excessive unsold inventory, stating their total inventory is significantly lower than alleged. The company acknowledged a challenging quarter due to a strategic shift in distribution, leading to a net loss. Despite this, Honasa Consumer assured investors they are actively managing returns and addressing distributor concerns.
Byju’s founder accused of trying to regain firm with hidden cash
Rapido to soon launch airport pool taxis to Bengaluru airport

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Mamaearth vs distributors; PharmEasy’s financials

Mamaearth vs distributors; PharmEasy’s financials

Honasa Consumer, Mamaearth's parent, addressed recent allegations, labelling them as "misinformation." This and more in today’s ETtech Top 5.

21 Nov, 2024

Groww, Razorpay pay for reverse flip; Arzooo’s distress sale

Groww, Razorpay pay for reverse flip; Arzooo’s distress sale

Happy Thursday! Stockbroking platform Groww, had its valuation reduced as part of its flip back to India, said sources. This and more in today’s ETtech Morning Dispatch.

21 Nov, 2024

Zomato vs Swiggy market share; PM e-drive subsidy

Zomato vs Swiggy market share; PM e-drive subsidy

Zomato has extended its lead in India’s food delivery space over recently listed rival Swiggy. This and more in today’s ETtech Top 5.

20 Nov, 2024

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Tech & Internet

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Amazon likely to face investigation under EU tech rules next year
The US online retailer could face a fine of up to 10% of its global annual turnover if it is found guilty of breaching the European Union's Digital Markets Act (DMA) which seeks to rein in the power of Big Tech.
Reddit down for thousands of users, Downdetector shows
Downdetector, which tracks outages by collating status reports from several sources including users, showed more than 14,000 reports of outages. The outage began around 10 am ET and at its peak impacted more than 70,000 users, according to Downdetector.
100 GCCs to adopt 100 colleges; create sector-specific programmes, says Priyank Kharge
US watchdog issues final rule to supervise Big Tech payments, digital wallets

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Deepinder Goyal's controversial job posting for chief of staff receives flak online
The Zomato CEO had posted an unconventional job opening for a chief of staff position. It carried no salary for the first year but sought a fee of Rs 20 lakh to be paid by the candidate.
- Deepinder Goyal's controversial chief of staff job posting gets over 18,000 applications
- Nvidia is Wall Street's most valuable company: how it got there, by the numbers
  Revenue nearly doubled in the latest quarter from the same period a year earlier, Nvidia reported Wednesday. The company expects further revenue growth in the current quarter that ends in January.
- Microsoft Ignite 2024: AI, cloud, and more in Satya Nadella’s keynote
  This year’s Microsoft Ignite highlighted how businesses and individuals can benefit from the tech giant's AI and cloud tech to gain efficiency and enable innovation. Following a strong focus on AI at Ignite 2023, this year’s edition continues in a similar vein.
- Canva hires ex-Zoom CFO as new finance head as IPO plans loom: report

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