Netflix Layoffs 150 Employees Given Declining Subscribers Base

Netflix Layoffs

World’s largest OTT platform, Netflix layoffs 150 employees from its workforce. The firm has been lately striving hard to retain its falling number of subscribers, but it seems Netflix could not succeed in stopping the number of subscribers from plummeting. So, Netflix on Tuesday announced that it was laying off 2 percent of its staff.

The layoffs will mainly affect its office in the United States, which is located in the state of California. They make up roughly 2 percent of the company’s workforce in North America, somewhere around 7,500 people.

Why Netflix Layoffs Its Staff?

Netflix Layoffs us

Netflix announced in April 2022 that it had lost 200,000 members in the first three months of the year. This was the first time that the streaming service had ever seen a significant decline in consumers. The company also warned that another two million users were projected to flee in the next quarter.

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Despite these losses, Netflix remains the undisputed market leader with 220 million subscribers worldwide. However, its rivals are expanding at a much quicker pace than before, and they are starting to intrude into its domain by providing content and services that are alternative to their own.

Netflix has already taken steps to address this issue by reducing its workforce by 2% (around 150 employees) to reduce costs and increase efficiency. However, some analysts believe that further layoffs may be necessary if Netflix wants to remain competitive as its rivals continue their meteoric rise in popularity among customers worldwide.

“Netflix’s recent financial report showed that the business had lost customers due to the conflict in Ukraine and its decision to hike pricing in the United States. It was found that only leaving the Russian market had resulted in a loss of 700,000 subscribers for the business.
However, this was not the only bad news for Netflix. The company also announced an increase in its quarterly losses and said that it would be raising prices for new customers.

Clarification On Netflix Layoffs

A spokesperson for Netflix has released a statement regarding the company’s recent decision to reduce the number of employees by 2%.
The statement reads: “These decisions are primarily motivated by business requirements rather than individual performance, making them highly challenging since none of us want to say goodbye to such terrific colleagues.

The statement did not clarify which divisions of Netflix were impacted by these layoffs; however, according to the reports, content creation and recruitment departments and communications departments were affected by these job cuts.

Netflix is also trimming the number of its original productions. To minimize expenses, it decided to stop the creation of Pearl, an animated series that Meghan Markle developed. This decision was made in early May.

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Testing Alternative Revenue Models

Since it announced that it would be raising prices, Netflix has been investigating other ways that it may make cash. While the company has said that it still needs more time to figure out how these changes will affect its users, they have already begun testing ad-based pricing models.

The company is also working with advertisers to ensure that their ads are relevant instead of interrupting the user experience.
The OTT company also stated that it would be cracking down on password sharing among family members or friends who may be sharing accounts. Netflix said this practice was responsible for losing 100 million homes in worldwide markets, including India and China.

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Google Maps To Show Toll Prices In A New Update

google maps

Google Maps users will now be able to view projected toll costs for their destination without relying on local authorities for up-to-date pricing information. According to the company’s statement on Tuesday, Google Maps will become even more accurate and technically efficient when driving.

Adding toll costs is just one of many improvements Google is making to its popular navigation app. It is also adding map information such as stoplights and stop signs. Because most users access Google Maps via iOS devices, Google is making several improvements specifically for Apple users. This includes a new pinned trip widget and the ability to get directions on your Apple Watch.

Whether you’re getting directions to grandma’s house or navigating a new city while on vacation, these upgrades will make your life easier and more cost-effective.

According to the firm, it is integrating toll costs into Google Maps for the first time to make it easier for users to decide whether they want to use toll roads or ordinary roads while traveling. The map will show the anticipated toll price for a user’s destination before starting the journey. It is up to local authorities that oversee tolls to provide pricing information; when calculating the projected cost of a trip, Google will consider factors such as payment methods and whether there are discounts available for certain days of the week.

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google maps interface

The company announced that it plans to add a new feature to its popular Maps app shortly. In fact, according to the company, users will have access to the feature in a matter of weeks. The new feature will facilitate users better plan their routes by informing them about traffic signals and toll roads. Google Maps makes it easier for drivers to navigate unfamiliar places by adding a few new features.

The app will soon include information on how many traffic signals and stop signs are on a given route. It will also present users with the total cost of tolls along their way, allowing users to opt-out of viewing routes that include toll roads entirely via the app’s settings.

Users will be able to check toll road costs starting this month for almost 2,000 toll roads in the United States, India, Japan, and Indonesia. Google intends to expand this list of countries shortly.

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In addition, users will see more details, such as building outlines and points of interest. Users can see even more information in certain cities, such as the shape and breadth of a road and medians and islands, which is very useful for navigation.

Google is releasing a new navigation map for Android, iOS, Android Auto, and CarPlay in select nations worldwide. This new navigation map will be available in the coming weeks. The company is also optimizing Google Maps to make it easier to use on iOS devices.

The improved iOS experience includes a new pinned trip widget that allows you to access information about your pinned trips directly from the home screen on your iPhone and a smaller version of the search widget that is currently available. If you’re driving, you’ll be able to view your arrival time, the next departure time for your transit journey, and a recommended route. If you use Google Maps on an Apple Watch, you’ll soon be able to start navigating directly from the watch without first starting navigation from your iPhone.

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google maps widget

Google Maps is integrated directly into the iOS Spotlight, Siri, and Shortcuts apps. It will be available in a few weeks. Users can say, “Hey Siri, find directions on Google Maps,” or “Hey Siri, search in Google Maps.”

The app’s new integration with Apple’s Shortcuts app lets users initiate navigation by tapping the Maps shortcut on their Apple Watch’s home screen.

Samsung Galaxy A73 Price Revealed, Check Price And Offers

Samsung Galaxy A73

The South Korean tech giant launched Samsung Galaxy A73 in India, and it’s the latest addition to the A-series. After being unveiled worldwide, the Galaxy A73 was launched in India late the last month. But it isn’t the only model in the refreshed lineup: Samsung is also introducing four other models in its A-series.

Samsung had already announced the specs for the Galaxy A73 before it launched late last month in India, but Samsung just officially confirmed its pricing. The Galaxy A73 costs Rs 41,999 for an 8GB+128GB configuration and Rs 44,999 for an 8GB+256GB configuration. It comes in three different colors: Awesome Mint, Awesome Grey, and Awesome White.

The Galaxy A72 is the predecessor of the Galaxy A73, and there are some significant improvements in this model—most of them are in photography. The primary camera has a resolution of 108MP and operates on Android 12’s most recent operating system. In India, the Samsung Galaxy A73 is available in two configurations: 8GB RAM/128GB storage or 8GB RAM/256GB storage.

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Samsung Galaxy A73 Price In India

You can pick it up in two different configurations: 8GB of RAM and 128GB of storage or 8GB of RAM and 256GB of storage. The former will cost you Rs 41,999, while the latter will set you back Rs 44,999. Compare that to last year’s Galaxy A72, which started at a price point of Rs 34,999 for the 8GB+128GB model, and you’ll see that there has been a significant increase in price for this year’s model.

Specifications

samsung galaxy a73 5g smartphone

It features a 6.7-inch FHD+ Super AMOLED Infinity-O display with a 120Hz refresh rate and a 1080×2400 pixels resolution. The phone comes with a punch-hole display for the selfie camera and is protected by Corning Gorilla Glass 5. The Qualcomm Snapdragon 778G chipset, coupled with the Adreno 642L graphics processor, will power the phone. The phone has up to 8GB of RAM and 256GB of internal storage, which is further expandable with the use of a microSD card.

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The square camera module on the back of the smartphone houses the quad rear cameras. The Samsung Galaxy A73 features a 108MP primary sensor with an f/1.8 aperture and OIS, a 12MP ultra-wide-angle lens, a 5MP macro lens, and a 5MP depth sensor. The phone also has a fingerprint sensor on the back.

The Samsung Galaxy A73 should shi[ with OneUI 4.1 custom skin, which is based on Android 12. Dual speakers with AKG sound, Dolby Atmos, and IP67 water resistance are among the features available on this handset.

The Samsung Galaxy A73 measures 163.776.17.6mm in height, width, and thickness and weighs 181 grams. 4G LTE, dual-band Wi-Fi, Bluetooth 5.1, GPS, NFC, and USB Type-C are among of connectivity features. It is equipped with a 5,000mAh battery that supports 25W rapid charging.

Offers On Galaxy A73

Customers who pre-order the Samsung Galaxy A73 will be eligible to get the Galaxy Buds, which otherwise costs Rs 6,990, for a discounted price of Rs 499. On the Galaxy A73, Samsung is also providing an immediate rebate of Rs 3,000 to customers who use Samsung Finance+, SBI credit cards, or ICICI Bank credit cards. Furthermore, customers can avail of an additional cashback of up to Rs 3,000 when they use any HDFC Bank debit or credit card. These offers will remain valid until April 7th.

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Customers will be able to take advantage of extra incentives when Samsung hosts a special Galaxy A73 sale event on its website on April 8th at 6 PM IST. During this time, customers who pay with any bank’s credit or debit card will get cashback on their purchases.

Reliance Extends The Availability Of The Jio Phone Next To Offline Market, Check Price And Specifications

the jio phone next

The JioPhone Next, a new smartphone jointly developed by Google and Jio, is now available for purchase at the retail mobile stores across India. In addition to being available at all of the company’s stores, Jio Points, Reliance Digital stores, and Jio Centres throughout India, the device is also available online on Amazon.

The JioPhone Next includes the most advanced features currently available in smartphones. It is specifically designed to be affordable for all consumers—from those making the transition from inexpensive feature phones to more economical smartphones to those with limited phone access. The phone is delivered right to customers’ doorsteps when they order the phone online so that they can enjoy the most outstanding digital experience possible immediately upon receipt of their new device. And now, the customers can also visit their nearest Reliance digital stores or partner retailers to purchase the phone offline.

The JioPhone Next is the most affordable smartphone in its class, with an initial price of Rs. 6499/- (about). Customers may also purchase the JioPhone Next by making a one-time payment of Rs. 1999/- and paying the remaining balance in easy monthly instalments (EMIs) over 18 or 24 months.

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The Jio Phone Next combines the strength of the ecosystem of all Google apps and premium applications from Jio and a high-powered back and front camera. The slick smartphone delivers unrivalled performance. The JioPhone Next is powered by Pragati OS, an optimized version of Android specifically designed for the JioPhone Next and tuned to give a streamlined and pleasurable experience for consumers in India. With this new operating system onboard, it provides a gateway to all Google apps and premium applications from Jio.

To ensure that the Pragati operating system was built for India first, Google and Jio conducted extensive research with Indian users to determine their needs and wants. The conclusion? People wanted a system that would be fast, reliable, and affordable. The Jio Phone Next has category-leading capabilities such as the ability to effortlessly access and consume content in a choice of ten different languages. Users who cannot read the information in one of these languages may now translate what is shown on their screen and even have it read back to them in another language with a single push of a button on their smartphone or tablet.

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With the addition of reading Aloud and Translate Now to the operating system, users can read aloud any text on their phone’s screen — including websites, applications, messages, and even photographs. Users can also use Voice First Capabilities by using App Actions to provide an outstanding experience with many Google and Reliance Jio applications available on this smartphone.

The Jio Phone Next is equipped with a 5.45-inch HD display with multitouch capabilities and Corning Gorilla Glass 3 protection, so it can stand up to even the clumsiest user. It comes pre-loaded with Google and Jio apps and runs on an Android-based Pragati operating system. The JioPhone Next features a powerful 13-megapixel back camera and an 8-megapixel front selfie camera with built-in filters and superior low-light photography capabilities.

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Packed into that sleek body are a 3500-mAh battery, Qualcomm Snapdragon QM 215 processor, 2 GB RAM, 32 GB internal memory, and a dedicated slot for an external memory card. The Jio Phone Next is available in three colours: blue, white, and black. Unfortunately, only Reliance’s proprietary sim Jio can provide 4G connectivity on this device. Using the Jio Phone Next with Sim cards of other telecom service providers will automatically switch the connectivity to 2G.

Amazon Luna, A Gaming Platform, Launches For Public In The US, Comes Included In Amazon Prime Membership

Amazon Luna, the company’s cloud gaming platform, is now available in all 50 American states to stream your favourite games. The service, which launched in early access in September 2020, will be accessible to all Amazon customers starting today.
In addition to making its availability more widespread, Amazon has also expanded the Luna viewing experience by offering two new subscription channels: Luna Plus and Ubisoft Plus. Amazon Prime members will have accessibility to a monthly cycle of games as part of their membership. It has also announced that the Retro Channel and the Jackbox Games Channel will join its current portfolio of channels.

Luna Plus allows for a more TV-like experience with access to more than 100 games. The Retro Channel, which will include games such as Street Fighter 2 and Metal Slug 3, and the Jackbox Games Channel, which will enable customers to invite non-subscribers to a multiplayer game, are the two new subscriptions to the service.

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Ubisoft Plus offers access to over 100 Ubisoft games. Luna Plus is available for $9.99 a month. The cost of Family Channel is $5.99 per month. A subscription to the Retro and Jackbox Games channels costs $4.99 a month, while a subscription to Ubisoft Plus through Amazon Luna costs $17.99 a month. It costs $14.99 per month or $139 per year to subscribe to Amazon Prime, including Prime Video, free delivery, and other benefits.

Those who sign up for Luna Plus or Family Channel before March 31 will be able to lock in their original cost of $5.99 for Luna Plus and $2.99 for Family Channel for as long as they keep their Early Access membership active.

The Retro Channel allows players to play classic games from their childhood, such as Donkey Kong, Super Mario Bros., Pacman, and more. Players can participate in nostalgic challenges against their friends to see who will win each game. If you’re looking for more modern options, then the Jackbox Games channel has you covered with party packs like Drawful 2 or Quiplash 2.

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Amazon Prime Video subscribers get exclusive access to the Ubisoft Plus channel when they subscribe through Luna, which will enable customers to enjoy Devil May Cry 5, Observer: System Redux. You don’t have to worry about buying anything extra because everything is included in an Amazon Prime membership!

Amazon’s Luna gaming service, which premiered on October 21 of this year, is getting some enhancements—and they’re coming as early as Tuesday. In a press release, Amazon announced that they were updating their Luna client for PC and Mac to allow one-click streaming of games. Fire TV users will also stream games by scanning a QR code with their device.

With the release of the Luna Controller app, which is now available for both iOS and Android smartphones, customers will be able to utilize their mobile devices as Luna controllers on their Fire TV.

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Amazon Luna premiered on October 21, 2020, and is accessible on various platforms, including Windows PCs, Macs, Fire TVs, Android smartphones, and iOS devices. On October 29 of this year, Ubisoft plus (previously Uplay Plus) became a member of Luna. The service is compatible with DualShock 4 gamepads from the Xbox One and PlayStation 4, as well as a unique dual-analog Luna controller, which costs $49.99

Rahul Bajaj, India’s Inspiring Businessman, Passes Away At 83, Leaves The Business World In Shock

Rahul Bajaj

Rahul Bajaj, a renowned businessman and the founder of a very well recognized Bajaj Auto, died on Saturday at 83. He had been admitted to the Ruby Hall Clinic in Pune a month ago for pneumonia and heart problems. He was 83. Bajaj is survived by his wife Rupa, son Rajiv and daughter Deepa, son Sanjiv and daughter Shefali, daughter Sunaina and son Manish.

Described by many as one of the icons of Indian industry, he was a stalwart of the business space for over six decades. The businessman made history when he took over his family’s primary firm, Bajaj Auto Ltd., from his father in 1965 at the age of 27. In April last year, Rahul Bajaj had resigned as Chairman of Bajaj Auto but continued as its Chairman Emeritus for five years.

In a statement from the Bajaj company, they reported that Rahul Bajaj died in the afternoon of February 12, 2022, in the presence of his closest family members. According to an official, the entrepreneur had been ill for some time and passed away around 2:30 p.m. today afternoon.

The Maharashtra government has announced that he will be accorded a state funeral tomorrow.

Who Was Rahul Bajaj?

Rahul Bajaj, the chairman of the Bajaj Group and a philanthropist, was born on June 10, 1938, in Kolkata, India. The University of Delhi awarded him a Bachelor of Arts in Economics. He went on to get a law degree from the Government Law College in Mumbai and a master of business administration degree from Harvard Business School. Rahul Bajaj’s grandfather, Jamnalal Bajaj, founded Bajaj Auto in 1945 as a manufacturer of scooters. Under Rahul’s leadership, that turnover grew to Rs 12,000 crore from just Rs 7.2 crore.

In 2008, Rahul Bajaj split Bajaj Auto into three units: Bajaj Auto, Bajaj Finserv and a holding company. His sons Rajiv Bajaj and Sanjiv Bajaj are now managing the company’s day-to-day affairs.

Today Rahul Bajaj’s sons Rajiv Bajaj and Sanjiv Bajaj manage the company’s daily affairs.

According to the publication, he was rated No. 722 on the Forbes 2016 list of the world’s billionaires, with a net worth of US$2.4 billion. In 2001, he received the Padma Bhushan, India’s third-highest civilian honour, and other honorary doctorates from various institutions.

Rahul Bajaj has served as president of the Confederation of Indian Industry (CII) twice (1979-80 and 1999–2000). He was also awarded the CII President’s Award for Lifetime Achievement by Indian President Pranab Mukherjee in 2017. He was elected to the Rajya Sabha, India’s Upper House of Parliament, in 2006 and served until 2010. As of February 2021, Rahul Bajaj had an estimated net worth of $8.2 billion, making him one of the wealthiest people in the world, according to Forbes.

Tributes From The Law Makers

Prime Minister Narendra Modi expressed his gratitude to Rahul Bajaj by saying, “In the realm of trade and industry, Shri Rahul Bajaj Ji made significant contributions that would be remembered for a long time. On top of being successful in business, he was dedicated to community service and a terrific conversationalist. He was distraught by Rahul’s death, he further added.

According to President Ram Nath Kovind, “We were shocked and saddened to hear about Shri Rahul Bajaj’s passing. He was a leading light of Indian industry, and he was adamant about the country’s interests. His professional life represented India’s business sector’s development and inherent strength. A gap has been left in business due to his passing.

Arvind Kejriwal, the Chief Minister of Delhi, said, “The revelation of the death of the country’s most prominent businessman, Rahul Bajaj ji, came as a shock. He made a significant contribution to the country’s growth on the economic front. The song ‘Buland Bharat Ki Buland Awaz’ become a staple in every family’s repertoire. My sincere homage to someone with such a wonderful personality. May the Lord receive the spirit of the dead and set it at his feet.”

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Crypto Legalization In India Never Possible, Says Finance Secretary Somanathan, Leaves Traders In Worry

crypto legalization

According to the Reserve Bank of India (RBI), virtual currencies gaining ground in India, including the newly founded Non-Fungible Tokens, will never be accepted as legal tender in India, which creates doubts about crypto legalization in India, Somanathan, Finance Secretary of India, stressed that only digital currencies that would not default would be supported by the Reserve Bank of India (RBI).  TV Somanathan was speaking about the central bank’s stand on cryptocurrencies after Finance Minister of India Nirmala Sitharaman confirmed that virtual digital assets will be subject to a 30 percent tax.

Crypto legalization can never be considered in India Cryptocurrencies and NFT are digital currencies whose price is determined by a transaction between two parties.

TV Somanathan On Crypto Legalization

After being pressed to clarify his position, the Finance Secretary said that anyone who seeks to engage in private cryptocurrency should be aware that such investments do not have the government’s permission and that there is no guarantee whether their investment will be profitable or not. He went on to say that although one may incur losses, the central government is under no obligation to reimburse one for such losses.

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Providing clarity on the issues of cryptocurrency and crypto legalization, Somanathan stated the Reserve Bank of India would support the digital currency, and the money will be under its control; nevertheless, the currency will be digital in form. The Reserve Bank of India (RBI) has declared that the digital rupee that it will create would be recognized as legitimate money.  TV Somanathan said, “The rest of them do not fall under legal tender as per the opinion of the Reserve Bank of India, and they will never have legal tender status.

As part of her Budget 2022 address, the Finance minister of India, Nirmala Sitharaman, proposed a 30 percent tax on digital assets derived from virtual assets delivered on Tuesday. The scale and prevalence of these transactions, in her opinion, have increased dramatically in recent years, and she believes that a particular tax system should be formed to address the frequency and amplitude of these transactions.

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It has been clarified that, except for the cost of purchase, no deductions would be permitted in respect of any expenditures or allowances while calculating such income, according to her. Aside from that, she recommended an additional 1% service fee on payments made regarding payments on virtual digital assets that are transmitted in amounts more than and equal to the threshold monetary amount. The proposed 30 percent tax on the cryptocurrencies will be chargeable at the receivers end, which means the sender of digital currency will not have to pay any tax. But the receiver of the currency will be liable to pay the newly proposed 30 percent tax. While in trading in these digital currencies, there will be no tax on purchasing but selling off coins will be taxable at 30 percent.

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Crypto traders seemed happy with the newly proposed crypto tax policy yesterday. However, crypto legalization bill is what they are waiting for. On the other hand, there was a little surge in values of the crypto coins. However, there was a significant fall in price today.

Also Read: Swiggy Raises Funding In Series K Round, Total Market Value Goes Up To $10.7 Billion

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Swiggy Raises Funding In Series K Round, Total Market Value Goes Up To $10.7 Billion

swiggy raises funding

Hardly six months after bagging a whopping $1.25 billion investment in funding, leading online food ordering platform based in India Swiggy raises funding one more time in Series K round of funding. Swiggy has freshly procured $700 million in a Series K financing round as the Indian food tech giant is proactively looking forwards to expanding its business operations. Apart from India, Swiggy has already rolled out its services in South Asian markets. 

An insider having direct knowledge of the matter revealed that Invesco managed the Series K investment round, which increased the market capitalization of Swiggy to $10.7 billion. Previously, during the Initial Public Offering (IPO) in July, the food-tech company was valued at $5.5 billion. 

The market capitalization value of the food tech giant crosses Zomato’s existing market value as Swiggy raises funding in the Series K round. It is important to note here that Zomato, a 13 years old company, is witnessing a slump in its share price, which has brought down Zomato’s market value below $10 billion.

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Swiggy’s Round K funding saw participation from Axis Growth Capital, Sixteenth Street Capital, Kotak, Sumeru Ventures, Baron Capital Group, IIFL AMC Late Stake Tech Fund, Segantii Capital, Ghisallo and Smile Group. Existing investors of Swiggy also participated in the funding round, which included Alpha Wave Global, Qatar Investment Authority, ARK Impact and Prosus Ventures.

Swiggy’s quick delivery service, Instamart, is on track to hit a $1 billion annual gross merchandise volume run rate in the coming three quarters, the food-tech firm believes.

Swiggy, India’s leading food ordering platform giving tough competition to Zomato,  had said last year that the firm wanted to spend $700 million to upgrade its services and geographic presence. After Swiggy raises funding, it seems the rivalry in the food delivery industry in India will witness stiff competition in grabbing market share.

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‘Invesco Developing Markets Fund, on a long term basis, is looking forward to investing in leading companies across the world that have long term structural development ability. Investment in Swiggy is one such kind of investment.’ Said Justin Leverenz, Chief Investment Officer at Invesco.

Majety’s Words After Swiggy Raises Funding

Sriharsha Majety, Swiggy co-founder and chief executive, said that Instamart had achieved a Gross Merchandise Value (GMV) in only 17 months, while the core food delivery company required 40 months to accomplish the same level of success.

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The ultimate goal of Swiggy is to make 100 million users at least use Swiggy 15 times a month. The completion of this goal will help Swiggy’s ecosystem to have a broader influence and bring revolution in the food and grocery delivery industry. For that, the food tech company will continue to invest in our partners and products.’ Sriharsha Majety added further.

The Indian food services sector will stand at a value of $97 billion by the end of 2026. Organized food service is increasing at a higher rate compared to the other industries, and it is anticipated to have a 55 per cent market share by 2025. By the end of 2025, we predict internet access to hit 20% and the market size to achieve $20 billion, with a compound annual growth rate of 46 per cent (CAGR). Acquisition of new customers as well as expanding into new and emerging areas will comprise the major of the company’s development.

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Reliance JioFibre Broadband Dominates BSNL And Airtel In Home Broadband Segment, Reliance Gained 2.01 Million Users, VIL Lost 0.1

reliance jiobibre broadband

With passing time, a tug of war between India’s leading telecom operators is getting tougher. However, Nomura Research, a Japanese analyst firm’s data interpretation, shows that Reliance JioFibre Broadband has dominated the state-owned BSNL’s ( Bharat Sanchar Nigam Limited) broadband network and has pushed down Bharti Airtel to the third position in India’s telecom sector.

As per the data published by the Telecom Regulatory Authority of India, The Mukesh Ambani group managed to add .019 million subscribers to its Reliance JioFibre Broadband network in November 2021, which made the total number of active Reliance JioFibre Broadband users to 4.3 million. Jio, in terms of broadband users, surpassed Bharti Airtel and Bharat Sanchar Nigam Limited (BSNL) to become India’s number one wired broadband service provider. As of November 2021, Bharti Airtel had 4.1 million users, while BSNL had 4.2 million users.

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Mukesh Ambani introduced the Reliance JioFibre Broadband network in India two years ago in September 2019. Over two years, the broadband service reached India’s tier 2 and tier 3 cities as the company provided internet service at a significantly low cost.

As per statistics collected by the industry regulator, Reliance Jio first gained surplus customers than Airtel in the number of home internet subscribers counted in August last year. Later, the telecom company continued to maintain its position in the following months. However, the Reliance JioFibre Broadband network continued to trail behind BSNL until October 2021. According to ICICI Securities, the market share of Reliance JioFibre Broadband stood at 17.8 at the November month-end against BSNL (17.2 percent) and Airtel (16.7 percent).

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Bharti Airtel witnessed the maximum number of active mobile users until November 2021. Until November 2021, Bharti Airtel added a whopping 1.8 million users to its total number of active users – 348 million. Reliance Jio, on the other hand, remained sluggish in adding new users to its active customer base. However, Reliance Jio remained the market leader with the most number of active users and active user share scores. Reliance Jio’s active user base at the end of November 2021 stood at 360 million. Visitor Location Register data also confirmed the number of active mobile network users.

According to their estimates, with the basic prepaid plans starting at Rs 99 between July and November 2021, experts predict Airtel and Vi’s active user additions to stay low in the next few months.

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Reliance JioFibre Broadband Vs Rivals

As per the figures, the total number of customers using mobile networks stayed stagnated at 996 million. Additionally, the telecom industry experts also noticed a tremendous surge in Reliance Jio’s subscriber base during November 2021 compared to its rivals.

Reliance JioFibre Broadband retained its market share position to 55.2 percent after adding the biggest number of Mobile Broadband (MBB) subscribers. At the same time, Bharti Airtel added 1.3 million broadband users to its network, which helped the brand accommodate a 26.6 percent market share. Vodafone Idea (VIL) is bad cash strapped witnessed a steep fall in its subscriber base. The loss-making telecom operator lost 0.1 million mobile network users during the same period. Vodafone Idea’s market share stands at 15.8 percent.

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Indian Tech Giant Tech Mahindra Acquires Com Tec Co IT Ltd For $310 Million, Bolsters Its Presence In Tech Industry

Com tec Co IT Ltd

On Monday, one of India’s leading tech consultants, Tech Mahindra, confirmed that it has agreed to acquire Com Tec Co IT Ltd (CTC) for 310 million euros (about Rs 2,628 crore) to comprise earnouts and synergy-linked incentives, among other things.  Furthermore, Tech Mahindra will also acquire 25 percent equity for a total of 20 million euros in two technology firms managed by Com Tec Co IT Ltd.

Tech Mahindra London Limited, the company’s wholly-owned subsidiary, sanctioned the proposition to procure 100 percent equity shares in Com Tec Co IT Ltd and 25 percent equity shares in each of SWFT Technologies Ltd and SWFT Technologies Ltd,”  Tech Mahindra stated in a regulatory filing. 

Tech Mahindra believes that the acquisition of Com Tec Co IT Ltd will allow the firm to capitalize on potential industry disruption in the insurance industry, broaden its services to comprise high-end digital technology solutions for some of the biggest insurance, re-insurance, and financial services companies in the world, as well as extend its nearshore delivery presence.

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What Is Com Tec Co IT Ltd?

Com Tec Co IT Ltd is an IT services and solutions company specializing in insurance and financial services. It has r&d centers in Latvia and Belarus and employs over 1,000 people worldwide.  The procurement of Com Tec Co IT Ltd is the second-largest procurement that Tech Mahindra has undertaken, a decade after the firm invested in Satyam in April 2010, which remained huddled by the fraud allegations.

Technology firm Tech Mahindra further announced that it is putting an additional 20 million euros to procure a 25 percent stake in the SWFT and Surance platforms, which are both subsidiaries of the same parent organization as Com Tec Co IT Ltd its existing investments.

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SWFT is an online consumer interaction platform that is delivered as a SaaS. It provides a variety of insurance sales and distribution features and is intended for use by online brokers, comparison websites, and insurers that want to engage with their consumers directly via digital channels. Cyber insurance for individuals is provided by Surance, an end-to-end service that concentrates on risk assessments, cybersecurity, and insurance plans for individuals.

“The insurance sector is now enduring a tremendous shift, which is being propelled by new developing business practices, which are being propelled by disruptive digital technologies,” said Vivek Agarwal, President – BFSI, HLS, and Corporate Development, Tech Mahindra.

In efforts to support insurers in advancing their migration to cloud-based platforms, we are focusing on enhancing our skills to provide end-to-end engineering with a powerful European nearshore footprint, as well as end-to-end engineering services. We are pleased to welcome the Com Tec Co IT Ltd team to the Tech Mahindra family, and we anticipate that this merger will result in substantial market and service line synergies.”

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Our employees and the company will benefit massively from becoming a part of a global organization such as Tech Mahindra because it will give them immediate access to the global scale as well as immense developmental opportunities.” “According to Avraham Shaked, Co-Founder of Com Tec Co IT Ltd.

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