Ranjan Pai, the Manipal chief, has acquired a 40% stake in Aakash Institute, valued at $700m, making him the largest shareholder in Byju's-owned Aakash. Swiggy, an IPO-bound food and grocery delivery major, is set to cut 350-400 roles, about 6% of its workforce, as it aims to reduce costs and achieve profitability ahead of its IPO. The layoffs come amidst the company's preparation to file draft IPO papers. The news has been covered by various sources including TechCrunch and NDTV.
Swiggy To Lay Off 400 Employees To Cut Costs Ahead Of IPO: Report https://t.co/kYr1gAM45I https://t.co/sOTi00okFD
#ICYMI | Food and grocery delivery major @Swiggy initiated another round of #layoffs to prune costs and hit profitability in the run-up to an #IPO. By @_soumyajit37 & @digbijaymishra1 Read here: https://t.co/x1ypf4ndMQ https://t.co/SHqsh1NFqU
Happy Republic Day, readers! ☀️ Top tech and startup stories to read today: ■ @RBI’s tokenisation push for #digital currency ■ @Flipkart chief on #profitability ■ @Swiggy axes more jobs ■ @BYJUS dragged to #NCLT, again https://t.co/UZuK7ny4Md
ETtech Top5 | @Swiggy to axe 400 jobs; @_groww vs @zerodhaonline race heats up Also in this letter: ■ @zomato, @stripe secure payment aggregator nod ■ Can GIFT-IFSC exchanges aid #startups? ■ Khazanah in talks to lead @oyorooms' funding round https://t.co/azcIH9I1Xa
India’s Swiggy to cut another 400 jobs ahead of IPO later this year: https://t.co/fd1qhq4S1e by TechCrunch #infosec #cybersecurity #technology #news
India’s Swiggy to cut another 400 jobs ahead of IPO later this year https://t.co/Vv3dQRcFqT
🚨🚨Swiggy to layoff 6% of workforce impacting 400 jobs: sources IPO-bound food and grocery delivery major #Swiggy has kicked off another round of #layoffs as it looks to prune costs and hit profitability, sources in the know said. https://t.co/x1ypf4ndMQ
🚨🚨 Exclusive: Food and quick commerce major Swiggy is set to cut about 400 roles, sources tell us. The cuts come as it is preparing for an IPO. More details to follow here with @digbijaymishra1 https://t.co/NryXpw5I7h
Newsbreak: Swiggy has begun a new round of layoffs at a time it is preparing to file draft IPO papers. It will cut 350-400 roles--about 6% across tech, call centre and some corporate roles. Breaking w/ @_soumyajit37 at @ETtech
#ICYMI | Ranjan Pai is set to emerge as the largest shareholder in @BYJUS-owned @aakashinstitute, with a 40% stake. Read the full story by @digbijaymishra1 here: https://t.co/r3HDYQVxaF https://t.co/hV6VvZNU0q
Ranjan Pai, the Manipal chief, now owns 40% of Aakash--crown jewel of Byju's. Board okays equity conversion of Manipal chief’s $300m; Aakash valued at $700m. What this means for Aakash and Byju's and lot more in today morning @ETtech newsbreak! https://t.co/Bm0wfI6Ll5
Good morning, readers! ☀️ Top tech and startup stories to read today: ■ Ranjan Pai’s big @aakashinstitute stake ■ @Meesho_Official, @PineLabs fair value cut ■ @rariohq #NFT product shut ■ MeitY’s 10-year roadmap https://t.co/KjIgVTLNai