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TikTok’s India rival booms with 500,000 users added every hour
TikTok has faced censure from courts, women’s groups, users and governments for content seen as sexually explicit or for the depiction of events like acid attacks on women. Roposo and other Indian TikTok imitators, on the other hand, market their content as fun that’s more in line with India’s relatively conservative culture.
Inside the baffling world of Masayoshi Son's presentations
Son is closely involved in making the slides. He has a team of about a half a doze...
Oyo witnessing green shoots in India: Ritesh Agarwal, founder, Oyo Hotels & Homes
In China occupancies continue to grow steadily and are in t...
Delhi High Court directs Oyo to file affidavit of unencumbered assets in matter filed by Anam Datsec
In its case against Oyo, Anam Datsec has alleged Oyo delayed and failed to make payments of an agreed upon monthly minimum guarantee amount of Rs 14 lakh for the property, did not provide necessary and accurate revenue statements and carried out 'sub standard and hazardous construction' on the property.
SoftBank-backed ride-hailing firm Grab set to announce layoffs
The ride-hailing industry has been battered by the pandemic, with firms from Uber, Lyft in the United States to India's Ola cutting jobs and costs.
SoftBank CEO defends Vision Fund chief Rajeev Misra, after losses, controversy
The Vision Fund lost almost $18 billion in the fiscal year ended March 31, as it wrote down the value of investments in WeWork and Uber Technologies Inc., among others.
Ola Electric's most experienced official Sanjay Bhan quits
Sanjay Bhan’s departure comes as a huge setback to India’s most valuable electric-vehicle startup since he was entrusted with the challenging task of onboarding dealer partners in 2020 as Ola Electric readies for a big-bang launch of its commercial operations next year.
Expecting a recovery starting in the next quarter, says Oyo's Rohit Kapoor
Kapoor said the company is currently offering about 50 hotels for healthcare professionals while a dozen are for quarantining asymptomatic people.
SoftBank Vision Fund posts record $17.7 billion loss on Oyo, WeWork and Uber
SoftBank lost $17.7 billion last fiscal year after writing down the value of investments.
Bankers keep Vision Fund going with rubber bands
A likely scenario is that the Vision Fund will once again find bankers willing enough to front the required money, but one would expect (hope) they’d ask for some collateral to back it up and charge a hefty enough interest rate to make it worthwhile in these unstable times.
Founder who turned down SoftBank set to become billionaire
Optim's founder had been offered a juicy deal by Masayoshi Son himself, which he turned down.
Grofers is in talks to raise $60-70 million
The funding comes at a time when the company’s sales and margins have doubled, compared to the same period last year.
Implosion of high-flying billionaire trio shows pledging risks
Pledging is big in Asia, where state-owned banks dominate financial markets and high-growth companies are more common. Tycoons in China and India often turn to lenders and other financial-services firms that offer cash in exchange for committed shares.
SoftBank-backed Oyo to offload more loss-making hotels amid pandemic: Sources
The hospitality sector has been one of the worst affected by the coronavirus outbreak, with global and domestic travel coming to a near-halt.
SoftBank to sell up to $41 bln in assets to expand share buyback, cut debt
The move comes as SoftBank's share price has been hammered by investor skepticism over the outlook for CEO Masayoshi Son's bets on startups like WeWork and Uber.