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Ola Electric Expects to Quadruple Revenue This Financial Year, Reveal Company Documents
Indian e-scooter maker Ola Electric expects revenue to quadruple to $1.5 billion (nearly Rs. 12,300 crore) this financial year and then double that again in two years, according to a document containing corporate projections and people briefed on the matter. The figures, however, pre-date surprise cuts by the federal government to e-scooter incenti...
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Ant Group, SoftBank Seek To Sell Paytm Stake Through Block Deal: Report
China's Ant Group and Japan's SoftBank Group Corp have discussed selling stake in One 97 Communications, which operates Indian digital payments firm Paytm, through a block deal, the Economic Times newspaper reported today.
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Alibaba Group Sells Remaining Stake in Paytm Worth Rs. 1,378 Crore
China's Alibaba Group has sold its remaining stake in Indian digital payments firm Paytm for about Rs. 1,378 crore through a block deal, stock exchange data showed on Friday. The exit comes days after Paytm posted its first-ever quarterly operating profit as a listed firm, nine months ahead of its own target.
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Ola Electric Unveils NMC 2170 In-House Lithium-ion Cell, Mass Production to Begin by 2023
Ola Electric on Tuesday unveiled a new lithium-ion cell that was developed in-house. The NMC 2170 battery will be mass produced from the company’s upcoming Gigafactory by 2023, and is designed to pack for energy in a specific area, while improving the overall life cycle of the cell. Company founder and CEO Bhavish Aggarwal stated that the first i...
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SoftBank Overseas Business Chief Michel Combes Exits in Latest Churn
Japan's SoftBank Group Corp said on Wednesday it has appointed Alex Clavel as chief executive of its SoftBank Group International (SBGI) unit, replacing Michel Combes who leaves after just six months in the role.
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Ola Electric CEO Bhavish Aggarwal Says Scooter Fires Rare, but Can Happen in Future
There may be more fires in electric scooters in the future but such incidents are very rare, the chief executive of India's Ola Electric reportedly said at a private company event, after safety concerns were heightened by a fire in one of its scooters in March.
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Nvidia to Scrap $40-Billion Acquisition of Arm After Objections From Regulators: Report
US firm Nvidia is scrapping its $40 billion (roughly Rs. 2,98,600 crore) bid to buy UK mobile chip technology powerhouse Arm from SoftBank after persistent objections from regulators.
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Crypto Exchange FTX US Valued At $8 Billion After $400 Million Fundraise
Cryptocurrency exchange FTX US said on Wednesday it had notched a valuation of $8 billion after raising $400 million in its first funding round from investors including Japan's SoftBank Group Corp and Singapore's Temasek Holdings.
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Ola Unveils First Operating Profit Ahead Of Potential IPO
Indian ride-hailing company Ola, backed by Japan's Softbank Group, has notched up its first-ever operating profit since beginning operations a decade ago. Ola reported standalone operating profit or EBITDA (earnings before interest, tax, depreciation and amortisation) of Rs.89.82 crore ($12 million) for the fiscal year that ended in March 2021, ver...
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Softbank-Backed Ola Unveils First Operating Profit Ahead Of Potential IPO
Indian ride-hailing company Ola, backed by Japan's Softbank Group, has notched up its first-ever operating profit since beginning operations a decade ago, company documents showed on Tuesday.
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British Fintech Zopa Hits $1 Billion Valuation With SoftBank Investment
British digital bank Zopa has raised $300 million from investors including Japan's SoftBank Group, it said on Tuesday, as the lender looks to expand its business ahead of a possible listing as soon as next year.
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Nvidia Offers EU Concessions Over $54-Billion Arm Deal
Nvidia has offered concessions in a bid to secure EU antitrust approval for its $54 billion (roughly Rs. 4,05,180 crores) acquisition of British chip designer Arm, a European Commission filing showed.
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Paytm Likely To File IPO Papers Today: Report
Paytm, which counts China's Alibaba and Ant Group, Japan's SoftBank and Warren Buffett-owned Berkshire Hathaway among its backers, is reportedly looking to raise Rs 12,000 crore through the primary market offering
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SoftBank-Backed OneWeb Files for Chapter 11 Bankruptcy Plan, Cuts Jobs
OneWeb, the satellite operator backed by Japan's SoftBank Group, said it has filed for Chapter 11 bankruptcy to pursue a sale of its business and and has cut its workforce amid the coronavirus outbreak.
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Oyo Says Softbank's Yahoo Japan Exits Japan Apartment Venture
Oyo, which is also backed by SoftBank Group Corp, said it has bought back the shares in Japanese apartment rental company Oyo Life held by internet firm Yahoo Japan, now known as Z Holdings, for an undisclosed amount.
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Ola Electric Expects to Quadruple Revenue This Financial Year, Reveal Company Documents
Indian e-scooter maker Ola Electric expects revenue to quadruple to $1.5 billion (nearly Rs. 12,300 crore) this financial year and then double that again in two years, according to a document containing corporate projections and people briefed on the matter. The figures, however, pre-date surprise cuts by the federal government to e-scooter incenti...
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Ant Group, SoftBank Seek To Sell Paytm Stake Through Block Deal: Report
China's Ant Group and Japan's SoftBank Group Corp have discussed selling stake in One 97 Communications, which operates Indian digital payments firm Paytm, through a block deal, the Economic Times newspaper reported today.
-
Alibaba Group Sells Remaining Stake in Paytm Worth Rs. 1,378 Crore
China's Alibaba Group has sold its remaining stake in Indian digital payments firm Paytm for about Rs. 1,378 crore through a block deal, stock exchange data showed on Friday. The exit comes days after Paytm posted its first-ever quarterly operating profit as a listed firm, nine months ahead of its own target.
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Ola Electric Unveils NMC 2170 In-House Lithium-ion Cell, Mass Production to Begin by 2023
Ola Electric on Tuesday unveiled a new lithium-ion cell that was developed in-house. The NMC 2170 battery will be mass produced from the company’s upcoming Gigafactory by 2023, and is designed to pack for energy in a specific area, while improving the overall life cycle of the cell. Company founder and CEO Bhavish Aggarwal stated that the first i...
-
SoftBank Overseas Business Chief Michel Combes Exits in Latest Churn
Japan's SoftBank Group Corp said on Wednesday it has appointed Alex Clavel as chief executive of its SoftBank Group International (SBGI) unit, replacing Michel Combes who leaves after just six months in the role.
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Ola Electric CEO Bhavish Aggarwal Says Scooter Fires Rare, but Can Happen in Future
There may be more fires in electric scooters in the future but such incidents are very rare, the chief executive of India's Ola Electric reportedly said at a private company event, after safety concerns were heightened by a fire in one of its scooters in March.
-
Nvidia to Scrap $40-Billion Acquisition of Arm After Objections From Regulators: Report
US firm Nvidia is scrapping its $40 billion (roughly Rs. 2,98,600 crore) bid to buy UK mobile chip technology powerhouse Arm from SoftBank after persistent objections from regulators.
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Crypto Exchange FTX US Valued At $8 Billion After $400 Million Fundraise
Cryptocurrency exchange FTX US said on Wednesday it had notched a valuation of $8 billion after raising $400 million in its first funding round from investors including Japan's SoftBank Group Corp and Singapore's Temasek Holdings.
-
Ola Unveils First Operating Profit Ahead Of Potential IPO
Indian ride-hailing company Ola, backed by Japan's Softbank Group, has notched up its first-ever operating profit since beginning operations a decade ago. Ola reported standalone operating profit or EBITDA (earnings before interest, tax, depreciation and amortisation) of Rs.89.82 crore ($12 million) for the fiscal year that ended in March 2021, ver...
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Softbank-Backed Ola Unveils First Operating Profit Ahead Of Potential IPO
Indian ride-hailing company Ola, backed by Japan's Softbank Group, has notched up its first-ever operating profit since beginning operations a decade ago, company documents showed on Tuesday.
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British Fintech Zopa Hits $1 Billion Valuation With SoftBank Investment
British digital bank Zopa has raised $300 million from investors including Japan's SoftBank Group, it said on Tuesday, as the lender looks to expand its business ahead of a possible listing as soon as next year.
-
Nvidia Offers EU Concessions Over $54-Billion Arm Deal
Nvidia has offered concessions in a bid to secure EU antitrust approval for its $54 billion (roughly Rs. 4,05,180 crores) acquisition of British chip designer Arm, a European Commission filing showed.
-
Paytm Likely To File IPO Papers Today: Report
Paytm, which counts China's Alibaba and Ant Group, Japan's SoftBank and Warren Buffett-owned Berkshire Hathaway among its backers, is reportedly looking to raise Rs 12,000 crore through the primary market offering
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SoftBank-Backed OneWeb Files for Chapter 11 Bankruptcy Plan, Cuts Jobs
OneWeb, the satellite operator backed by Japan's SoftBank Group, said it has filed for Chapter 11 bankruptcy to pursue a sale of its business and and has cut its workforce amid the coronavirus outbreak.
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Oyo Says Softbank's Yahoo Japan Exits Japan Apartment Venture
Oyo, which is also backed by SoftBank Group Corp, said it has bought back the shares in Japanese apartment rental company Oyo Life held by internet firm Yahoo Japan, now known as Z Holdings, for an undisclosed amount.
