Oyo may cut more jobs to shore up its bottom line
Executives say scale of layoffs ‘far larger’ than expected but Oyo denies any such plan.
Paytm issued 3 million FASTags; seeks to add 2 million by March
The expansion would also involve tie-ups with leading car makers Maruti Suzuk...
Japanese shares settle higher on US-China trade deal optimism, weaker yen
The Nikkei share average advanced 0.7 per cent to 24,025.17
Inventus scores Rs 230 crore in exits
The tech-focused fund recorded cash exits from three portfolio firms in December.
SoftBank in talks to sell stake in Indian renewable energy venture
The group is looking at a partner that can provide equity commitments of $1.5 billion to $2 billion to execute and complete a pipeline of 7 gigawatts of renewable projects around the world.
SoftBank-backed Oyo lays off thousands across India, China
SoftBank-backed Oyo plans to shed another 1,200 in India over the next three to four months, sources said.
Former Google India interim head Vikas Agnihotri set to join SoftBank
In a statement sent out by the Tokyo-headquartered investor, late on Thursday, and after ET reached out to it seeking confirmation of the appointment, said Agnihotri will “foster closer connections with the region’s technology ecosystem and the SBIA’s global network.”
Elara Technologies raises $70 million
The capital infusion is in the form of a convertible note that will also cover the previous $35 million Elara had raised from Citi Singapore in August 2018.
What SoftBank’s new vision means for Indian industry
SoftBank made a big-bang entry in the industry in 2014, when it announced three investments totalling $1 bn.
Oyo notifies employees about layoffs via emails
Layoffs in Delhi and Jaipur were communicated to the staff on Monday, while in Gurgaon employees were notified on Tuesday.
Oyo to shut doors on 2,400 Indian staffers, may let go more in March
Layoffs will be in mid-management, business development, sales and operations roles, & tech teams.
SoftBank in talks to sell majority stake in India renewables JV
It is considering various options, ranging from an outright sale of its 70% stake to a majority stake sale.
Uniqlo founder Yanai resigns as SoftBank board member after 18 years
The resignation comes at a time when SoftBank is battling with the fallout from the failed IPO of We-Work, with Son saying he misjudged co-founder Adam Neumann’s character and pledging to strengthen corporate governance at the group's investments. However, experts are critical of SoftBank’s governance, saying it has few truly independent voices that can question Son’s judgement.
Private equity funds go talent shopping for portfolio companies
Advent International, Blackstone, Carlyle, General Atlantic, SoftBank tapping managers for leadership roles. In the past few years, PE funds have preferred to invest in ventures where they get controlling stakes. This helps them to have greater control over operational aspects of the company.
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