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Amazon Web Services to invest $2.77 billion in Telangana for data centres

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

: Amazon Web Services (AWS) will be investing USD 2.77 billion (Rs 20,761 crore) in Telangana to set up multiple data centres, Telangana Minister for IT and Industries KT Rama Rao said on Friday. It is the largest Foreign Direct Investment (FDI) in the history of the state, he added.

Amazon Web Services (AWS) will be investing USD 2.77 billion (Rs 20,761 crore) in Telangana to set up multiple data centres, Telangana Minister for IT and Industries KT Rama Rao said on Friday. It is the largest Foreign Direct Investment (FDI) in the history of the state, he added.

AWS is the cloud platform offered by Amazon. ”Happy to announce the largest FDI in the history of Telangana! After a series of meetings, AWS has finalized investment of Rs 20,761 Cr ($ 2.77 Bn) to set up multiple data centers in Telangana The @AWSCloud Hyd Region is expected to be launched by mid 2022,” the minister tweeted.

A press release issued by Rama Rao said, AWS is investing to set up an AWS Region with three Availability Zones (AZs) here. AZs consist of multiple data centres in separate distinct locations within a single region that are engineered to be operationally independent of one another with independent power, cooling, physical security and connections via a low-latency network, it said The minister had met officials from AWS during his Davos visit earlier in the year and subsequently arrived at the closure on the investment in a swift manner, according to the release.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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PVR, Inox Leisure shares rally after Maharashtra allows cinema halls to reopen

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

The shares of PVR and Inox Leisure soared on Thursday after the Maharashtra government finally allowed cinema halls and multiplexes to reopen from today with 50 percent occupancy, outside the containment zones.

The shares of PVR and Inox Leisure soared on Thursday after the Maharashtra government finally allowed cinema halls and multiplexes to reopen from today with 50 percent occupancy, outside the containment zones.

PVR’s share price surged as much as 8.6 percent to Rs 1,194.15 apiece on the NSE while Inox Leisure’s share price gained up to 5.7 percent to Rs 274.80.

The order from the state government, however, stated that people would not be allowed to have eatables inside the theatres.

This is apart from all the indoor stadiums, swimming pools and yoga institutes – again, outside containment zones – that will be allowed to function Thursday onwards, said the notification.

All these facilities will have to strictly observe social-distancing and sanitization norms.

The union government had allowed multiplexes, and cinema halls to reopen weeks back following strict standard operating procedures (SOPs). The Ministry of Home Affairs had, however, then left it to states to take the final call on the matter.

After a gap of 8 months, the cinema halls in the state will finally welcome people again given that Mumbai is the key region for the Indian film industry.

 

For more stock updates, follow our market live blog

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Maharashtra allows re-opening of cinema halls: Here are the SOPs to be followed

Cinema managers will ensure strict social distancing at the F&B areas. All consumables will be pre-assembled and served. The next customer waiting in the queue will not called until the one who is being served at the POS has left the counter. (Image Source: MAI)

The Maharashtra government has allowed the re-opening of cinema halls, theatres from today. As far as the order is concerned, multiplexes like PVR and Inox Leisure, would be allowed to start their operations with about 50 percent of initial capacity. The order states that people would not be allowed to have eatables inside the theatres.

CNBC-TV18’s Yash Jain has all the details of the SOPs to be followed.

For more, watch the video.

PVR Cinemas says most landlords waived rents; costs down 75%

Multiplex chain PVR managed to reduce losses in the second quarter despite nil revenues from the core movie exhibition business with the exception of one property in Colombo.

The company managed to get rent waivers from most landlords, the company’s CFO Nitin Sood said in an interview to CNBC-TV18.

“The big focus for us right now as revenues have been nil is to really reduce our fixed cost and we have managed to do that,” he said.

“We have brought down our fixed cost down by almost 75-80 percent. One of the big success that we have also managed to achieve is also to speak to our landlord partners and we have been able to get rent waivers from most of our landlords for the period we have been shut,” he said.

He said further cost reductions were not possible, but there was enough liquidity on the company’s balance sheet for now.

Sood said the next major milestone would be the opening up of screens in Maharashtra, which accounts for roughly 25 percent of multiplexes’ revenues.

“Maharashtra is a very key state for Hindi film releases because it contributes about 20-25 percent of revenue of Hindi film. We are hoping that we will get permission soon to open in Maharashtra,” he said.

The Maharashtra government has been wary of opening up of cinema halls, fearing a fresh outbreak of COVID cases, especially with the festive season underway.

Sood said the first 6-8 weeks after reopening is expected to be challenging.

Also read: From Priya Village Roadshow to PVR: How Ajay Bijli built India’s largest multiplex chain

 5 Minutes Read

PVR reports Q2 net loss of Rs 184.06 cr

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

“Financial performance of the company for Q2, FY 21 was impacted by the continued lockdown announced due to COVID-19 outbreak, which disrupted company’s operations,” said PVR in a post earning statement.

Leading multiplex chain operator PVR Ltd on Tuesday reported a consolidated net loss of Rs 184.06 crore for the second quarter ended September 30, 2020, as the film exhibition business continued to be impacted by the coronavirus-related restrictions. The company had posted a net profit of Rs 47.67 crore in the July-September quarter a year ago, PVR said in a BSE filing.

Its total income was at Rs 110.61 crore during the quarter under review against Rs 979.40 crore in the corresponding quarter last fiscal. PVR’s total expenses were at Rs 389.37 crore in July-September 2020-21.

“Financial performance of the company for Q2, FY 21 was impacted by the continued lockdown announced due to COVID-19 outbreak, which disrupted company’s operations,” said PVR in a post earning statement.

Also Read: PVR Cinemas says most landlords waived rents; costs down 75%

Consequently, PVR had almost nil’ revenues during the quarter from core movie exhibition business with the exception of one property in Colombo, Sri Lanka, it added. “With 100 percent revenue decline, the company reported significant losses in Q2, driven by the continuing fixed costs, it said.

Meanwhile, PVR said its results were not comparable as business was impacted due to temporary closures of cinemas. Results for the quarter ended September 30, 2020, are not comparable with results for the quarter ended September 30, 2019, as temporary closures of cinemas and suspension of operations have impacted business operations, it said.

The company had initiated a series of short-term and long-term measures to aggressively control costs as well as augment liquidity.  PVR further strengthened its cost control measures resulting in 71 percent savings YoY in total fixed costs excluding Rent and CAM. Monthly fixed cost excluding Rent and CAM dropped to Rs 24 crore in the quarter as against Rs 86 crore in Q2 FY20,” it said.

PVR is in active engagement with its developer partners for discussions on rent and CAM and so far settlements have been reached for more than 60 percent of cinemas offering PVR complete rent waiver for lockdown period and significant discounts on rent post reopening.

Under Unlock 5.0 guidelines, the government has permitted cinemas to reopen from October 15 onwards with 50 percent capacity.  So far, 16 states and UTs, where PVR has a presence, have permitted cinemas to restart operations. Out of total 831 screens of the company, over 575 have received permission to reopen, it said.

PVR Ltd Chairman cum Managing Director Ajay Bijli said: We are eagerly waiting for re- opening of other states, specifically Maharashtra and Telangana, so that business can gradually get back to normal. We are taking all possible precautions so that both our customers and employees feel safe while visiting their favourite cinema.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Ad revenue improvement to flow into bottomline: Zee Entertainment

New tariff for TV channels

Zee Entertainment’s September quarter revenues were in-line with estimates, but advertisement revenues declined 26 percent.

Speaking to CNBC-TV18, Rohit Gupta, CFO of Zee Entertainment said that they are now seeing a strong rebound in ad revenue across all sectors. “With ad revenues coming back, we are even seeing improved profitability,” he added.

Gupta said that Zee’s market share has increased to 19 percent which is higher than pre-COVID levels.

“During Q2, operational performance has seen an all-round rebound. We are seeing production of original content and that has started to come in full swing. It has also reversed the viewership loss that we had in the entertainment network to news and movies,” he said.

He further added that even on the digital platform, Zee5 and movies and music business were seeing good growth.

On Siti, Gupta said that they do not expect any more write-offs towards it. He further added that Dish TV’s outstanding currently is at Rs 460 crore.

 5 Minutes Read

Former James Bond actor Sean Connery dies aged 90: British media

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

He will be remembered first as British agent 007, the character created by novelist Ian Fleming and immortalised by Connery in films starting with “Dr. No” in 1962.

Scottish movie legend Sean Connery, who shot to international stardom as the suave, sexy and sophisticated British agent James Bond and went on to dominate the silver screen for four decades, has died aged 90, the BBC and Sky News reported on Saturday.

Connery was raised in near poverty in the slums of Edinburgh and worked as a coffin polisher, milkman and lifeguard before his bodybuilding hobby helped launch an acting career that made him one of the world’s biggest stars.

He will be remembered first as British agent 007, the character created by novelist Ian Fleming and immortalised by Connery in films starting with “Dr. No” in 1962.

As Bond, his debonair manner and wry humour in foiling flamboyant villains and cavorting with beautiful women belied a darker, violent edge, and he crafted a depth of character that set the standard for those who followed him in the role.

He would introduce himself in the movies with the signature line, “Bond – James Bond.” But Connery was unhappy being defined by the role and once said he “hated that damned James Bond”.

Tall and handsome, with a throaty voice to match a sometimes crusty personality, Connery played a series of noteworthy roles besides Bond and won an Academy Award for his portrayal of a tough Chicago cop in “The Untouchables” (1987).

He was 59 when People magazine declared him the “sexiest man alive” in 1989.

Connery was an ardent supporter of Scotland’s independence and had the words “Scotland Forever” tattooed on his arm while serving in the Royal Navy. When he was knighted at the age of 69 by Britain’s Queen Elizabeth in 2000 at Holyrood Palace in Edinburgh, he wore full Scottish dress including the green-and-black plaid kilt of his mother’s MacLeod clan.

Became Fed Up With ‘Idiots’

Some noteworthy non-Bond films included director Alfred Hitchcock’s “Marnie” (1964), “The Wind and the Lion” (1975) with Candice Bergen, director John Huston’s “The Man Who Would be King” (1975) with Michael Caine, director Steven Spielberg’s “Indiana Jones and the Last Crusade” (1989) and the Cold War tale “The Hunt for Red October” (1990).

Fans of alternative cinema will always remember him starring as the “Brutal Exterminator” Zed in John Boorman’s mind-bending fantasy epic “Zardoz” (1974), where a heavily mustachioed Connery spent much of the movie running around in a skimpy red loin-cloth, thigh-high leather boots, and a ponytail.

Connery retired from movies after disputes with the director of his final outing, the forgettable “The League of Extraordinary Gentlemen” in 2003.

“I get fed up dealing with idiots,” he said.

The Bond franchise was still going strong more than five decades after Connery started it. The lavishly produced movies, packed with high-tech gadgetry and spectacular effects, broke box office records and grossed hundreds of millions of dollars.

After the smashing success of “Dr. No,” more Bond movies followed for Connery in quick succession: “From Russia with Love” (1963), ?”Goldfinger” (1964), “Thunderball” (1965) and “You Only Live Twice” (1967).

Connery then grew concerned about being typecast and decided to break away. Australian actor George Lazenby succeeded him as Bond in “On Her Majesty’s Secret Service” in 1969.

But without Connery, it lacked what the public wanted and he was lured back in 1971 for “Diamonds Are Forever” with temptations that included a slice of the profits, which he said would go to a Scottish educational trust. He insisted it would be his last time as Bond.

Twelve years later, at age 53, Connery was back as 007 in “Never Say Never Again” (1983), an independent production that enraged his old mentor, producer Albert “Cubby” Broccoli.

Preferred Beer To Martinis

In a 1983 interview, Connery summed up the ideal Bond film as having “marvellous locations, interesting ambiance, good stories, interesting characters – like a detective story with espionage and exotic settings and nice birds.”

Connery was a very different type from Fleming’s Bond character with his impeccable social background, preferring beer to Bond’s vodka martini cocktails that were ?”shaken not stirred”.

But Connery’s influence helped shape the character in the books as well as the films. He never attempted to disguise his Scottish accent, leading Fleming to give Bond Scottish heritage in the books that were released after Connery’s debut.

Born Thomas Connery on August 25, 1930, he was the elder of two sons of a long-distance truck driver and a mother who worked as a cleaner. He dropped out of school at age 13 and worked in a variety of menial jobs. At 16, two years after World War Two ended, Connery was drafted into the Royal Navy and served three years.

“I grew up with no notion of a career, much less acting,” he once said. “I certainly never have plotted it out. It was all happenstance, really.”

Connery played small parts with theatre repertory companies before graduating to films and television.

It was his part in a 1959 Disney leprechaun movie, “Darby O’Gill and the Little People,” that helped land the role of Bond. Broccoli, a producer of the Bond films, asked his wife to watch Connery in the Disney movie while he was searching for the right leading actor.

Dana Broccoli said her husband told her he was not sure Connery had sex appeal.

“I saw that face and the way he moved and talked and I said: ‘Cubby, he’s fabulous!'” she said. “He was just perfect, he had star material right there.”

Connery married actress Diane Cilento in 1962. Before divorcing 11 years later, they had a son, Jason, who became an actor. He married French artist Micheline Roquebrune, whom he met playing golf, in 1975.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Monthly active user base of Spotify touches 320 mn in Q3

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

Spotify said its revenue increased 14 percent y-o-y to 1.97 billion euros (about Rs 17,131 crore) in the September quarter. Its premium revenue grew 15 percent y-o-y, while ad-supported revenue rose 9 percent in the quarter under review.

Music streaming platform Spotify’s monthly active user (MAU) base has grown 29 percent in the September 2020 quarter to 320 million over the year-ago period, buoyed by markets like India and Russia.

The MAU “outperformance” was buoyed by India, which benefited from successful marketing campaigns, as well as stronger than expected results from July launches in Russia, CIS (Commonwealth of Independent States), and the Balkans, the music platform said in a statement on Thursday.

“We are particularly encouraged by our MAU strength this quarter, as it supports the long-term health of our customer acquisition funnel and gives us confidence as we continue to expand into new markets,” it added.

Spotify had 144 million premium subscribers globally, up 27 percent year-on-year, in the September quarter.

The company said it expects its total MAUs to be in the range of 340-345 million and premium subscribers to be 150-154 million in the fourth quarter.

“From a content consumption standpoint, global consumption hours surpassed pre-COVID levels during the quarter, and all regions have fully recovered. Consumption trends by the platform have returned to normal usage, including in-car listening hours, which is now above the pre-COVID peak,” the company said.

Usage of connected devices in the home, which saw a spike during the lockdown, also remains above pre-COVID levels, it added. The platform now has over 1.9 million podcast titles available, while the number of artists and their teams utilizing Spotify for Artists tools on a monthly basis has grown to more than 7,50,000.

Spotify said its revenue increased 14 percent y-o-y to 1.97 billion euros (about Rs 17,131 crore) in the September quarter. Its premium revenue grew 15 percent y-o-y, while ad-supported revenue rose 9 percent in the quarter under review.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

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LIVE TV

today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
Quiz
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Should Elon Musk be able to buy Twitter?

 5 Minutes Read

InVideo raises Rs 110 crore in funding round led by Sequoia Capital

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

The platform claims to have over 8 lakh users from more than 150 countries who have created videos in over 75 languages.

Bengaluru-based video-making platform InVideo on Tuesday said it has raised around Rs 110 crore in series A round of funding led by Sequoia Capital India. The round also saw participation from Tiger Global, Hummingbird, RTP Global and Base, the company said.

”This fresh capital injection will allow us to continue our mission to build a world-class technology solution, expand at scale and help more individuals and businesses create unique videos that fit their needs in the easiest way possible,” InVideo CEO and co-founder Sanket Shah said in a statement.

InVideo was launched in April 2019 by Shah and Harsh Vakharia. The platform claims to have over 8 lakh users from more than 150 countries who have created videos in over 75 languages.

”We believe the global SaaS companies of tomorrow are going to be built from India. And with their stellar product, design and tech capabilities, InVideo is well-placed to become the platform of choice for video creation in a potentially USD 10 billion (about Rs 73,700 crore) market,” Sequoia Capital India LLP, vice president, Prateek Sharma said.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Should Elon Musk be able to buy Twitter?

 5 Minutes Read

Hubilo raises $4.5 mn from Lightspeed

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

he USD 800 billion global events industry was one of the hardest hit by COVID-19 but organisers are migrating online rapidly and also expanding their attendee base.

Hubilo, a global virtual events platform, has raised USD 4.5 million (about Rs 33.2 crore) in funding, led by venture capital firm Lightspeed. Marquee tech angels, including Girish Mathrubootham (CEO Freshworks), Nishant Rao (ex-CEO LinkedIn India), Jonathan Boutelle (Co-founder, Slideshare), and Abinash Tripathy (CEO Helpshift) also participated in the seed funding round, Hubilo said in a statement late Monday night.

The company, which started its journey amidst the COVID crisis in April, has grown over 40X organically and is projected to exceed USD 10 million in booking run rate and host over one million attendees in the next few months, it added. The USD 800 billion global events industry was one of the hardest hit by COVID-19 but organisers are migrating online rapidly and also expanding their attendee base.

Hubilo said it is building a ’system of record’ for virtual events. On one end, Hubilo offers gamified experiences to increase attendee engagement, and on the other end, it offers deep integrations with platforms such as Marketo and Salesforce to provide actionable insights to organisers and sponsors and they can see the return on investment from their event-related budgets. Customers like the United Nations, Roche, Informa Markets, Tech In Asia, Fortune and GITEX are already using Hubilo for their events, the statement said.

”Our vision is to build the world’s smartest platform for virtual events that brings Experience + Intelligence together. While the revenue growth has been phenomenal, what excites us most is re-imagining and leading the marketing stack that will emerge around virtual events and unlocking massive value for key stakeholders such as CMOs, event organisers and sponsors,” Vaibhav Jain, Founder and CEO of Hubilo, said.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

Next Article

Shanghai residents turn to NFTs to record COVID lockdown, combat censorship

LIVE TV

today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
Quiz
Powered by
Are you a Crypto Head? It’s time to prove it!
10 Questions · 5 Minutes
Start Quiz Now
Win WRX (WazirX token) worth Rs. 1500.
Question 1 of 5

What coins do you think will be valuable over next 3 years?

Answer Anonymously

Should Elon Musk be able to buy Twitter?