Latest news with #Swiggy
Time of India
9 hours ago
- Business
- Time of India
MakeMyTrip's record raise; Zuck goes talent shopping
MakeMyTrip's record raise; Zuck goes talent shopping Also in the letter: What's the news: The fundraise marks the largest ever by a listed Indian new-age company. On Tuesday, MakeMyTrip disclosed in a regulatory filing that it is raising $3 billion to buy back shares from Group. MakeMyTrip cofounders Deep Kalra and Rajesh Magow currently hold 4.6% of the company's voting rights. Domestic control: Other major raises: Paytm raised $2.5 billion during its IPO in 2021. Through its public issue, Zomato (now Eternal) raised $1.25 billion and followed this with a $1 billion raise via a qualified institutional placement (QIP) in November 2024. Swiggy raised $1.2 billion from the public markets in its public issue in 2024 Ola Electric raised $740 million through its IPO in August last year. Also Read: Elevation Capital sells Ixigo shares worth Rs 97.4 crore; Schroder buys stake Numbers game: Elevation Capital has sold 53.9 lakh shares for Rs 97.4 crore, pricing them at Rs 180 apiece. In parallel, global investor Schroder International Selection Fund picked up shares worth Rs 96.9 crore in the company. This comes after Elevation sold 21.5 lakh shares in Ixigo for Rs 38.27 crore in May. As of March 31, Elevation held a 14% stake in Ixigo. That has now come down to 12%. The early-stage investor had originally put in Rs 63.1 crore across multiple tranches. Mark Zuckerberg made abortive attempt to buy ex-OpenAI executive Ilya Sutskever's AI startup: Report Driving the news: High-stakes game: Zuckerberg is spearheading an ambitious effort to build a 'superintelligence' team focused on developing artificial general intelligence (AGI), the elusive frontier where AI not only matches but surpasses human capabilities. Inside Meta, there is growing frustration with the sluggish progress of its current efforts, particularly the limitations of the Llama 4 models. Eager not to be left behind, Zuckerberg is setting his sights on outpacing OpenAI and Google in the AGI race. Tell me more: Also Read: Swiggy pilots travel and lifestyle concierge app Crew Details: What's the significance: Background: Krutrim eyes AI growth with BharatSah'AI'yak acquisition Tell me more: Why it matters? Also Read: Zoom out: Internal challenges: YouTube Shorts has hit 200 billion daily views: CEO Neal Mohan Numberwise: More details: At the 2025 Cannes Lions Festival, Mohan added that people now watch over 1 billion hours of YouTube on their TVs every day. In May, YouTube was the most-watched streaming platform in the US for the fourth consecutive month, topping Nielsen's The Gauge report. Future outlook: Also Read: MakeMyTrip has raised $3.1 billion in the largest fundraise by a listed Indian new-age company. This and more in today's ETtech Top 5.■ Swiggy's latest pilot■ Krutrim's latest acquisition■ YouTube Shorts' monster growthMakeMyTrip raises $3.1 billion in landmark deal; to slash Chinese firm stake to 20%Online travel platform MakeMyTrip has raised $3.1 billion through a mix of equity and debt, its banker, Morgan Stanley, confirmed on faced criticism last month over its sizable Chinese shareholding, after EaseMyTrip founder Nishant Pitti accused the platform of risking the travel data of Indian Army personnel. Following this buyback, stake will fall from 45% to around 20%. Its board representation will also shrink from five directors to Bajpai (R), MD and group CEO, Ixigo, and Rajnish Kumar (L), co-CEO, IxigoVenture fund Elevation Capital has offloaded shares of Le Travenues Technology, the parent company of travel platform Ixigo, for a second time in a month, pocketing a 25x return on its Zuckerberg, CEO, MetaMeta's $14.2 billion recent investment in Scale AI, and roping in its CEO Alexandr Wang, appears to be just the beginning. Mark Zuckerberg seems to be on a man on a mission : to recruit top AI talent, and reports suggest he made a move for one of the sector's most-talked-about to CNBC, Zuckerberg tried to acquire Safe Superintelligence, the $32 billion startup founded by former OpenAI cofounder Ilya Sutskever. The talks didn't go far, with Sutskever reportedly turning him down. Meta then shifted focus to poaching CEO Daniel Gross for its AI Meta CEO is assembling a handpicked team of 50 researchers, including a new head of AI, and has held private meetings with potential hires at his homes. Alongside Gross, Meta is also bringing in former GitHub CEO Nat Friedman to under Altman recently stated on a podcast that Zuckerberg has offered $100 million bonuses to attract talent, but so far, with little has ventured into a new category with the pilot launch of its travel and lifestyle concierge app, app blends human concierges with generative AI to help users plan trips, offering more than just itinerary year, ahead of its IPO, Swiggy tested a similar service, Rare Life, a personalised concierge service for exclusive experiences. That experiment was short-lived, as the company decided to focus on broader lifestyle offerings is part of Swiggy's latest push beyond food delivery, dining out, and quick commerce. In January, it launched Pyng, a professional services marketplace This signals a departure from Swiggy's earlier 'superapp' strategy. Instead of integrating all services under one platform, Swiggy has started offering standalone apps. Instamart, its quick commerce unit, got a dedicated app earlier this May, the company shut down its parcel delivery service, Genie , opting instead to focus on Bolt, its rapid food delivery feature now available in 500 cities. As food delivery growth tapers off, Swiggy and rival Zomato are betting on 10-minute orders to regain Aggarwal, founder, KrutrimOla's AI division, Krutrim, has acquired BharatSah'AI'yak , an AI platform developed by governance consultancy move comes as Krutrim seeks to expand its presence in government-led digital initiatives through its proprietary AI stack. As part of the agreement, Krutrim has also onboarded Samagra's core AI has been employed in projects spanning education, agriculture, and citizen services. It will now be integrated with Krutrim's in-house large language models (LLMs), cloud infrastructure, and agentic AI assistant platform, February, Ola founder Bhavish Aggarwal announced an investment of Rs 2,000 crore in Krutrim , with plans to increase it to Rs 10,000 crore by next has recently faced internal turbulence , including several senior-level departures and criticism following the alleged suicide of an employee, with claims of a toxic work Mohan, CEO, YouTubeYouTube Shorts now commands around 200 billion daily views , according to CEO Neal marks a dramatic leap from March 2024, when YouTube said Shorts was attracting around 70 billion daily views. In just one year, daily viewership has surged by nearly 186%.As Shorts continues to gain traction, YouTube plans to strengthen support for creators by rolling out more tools. Mohan announced that Veo 3, the latest version of Google DeepMind's video generation model, will launch on the platform later this summer.
Economic Times
11 hours ago
- Business
- Economic Times
Swiggy pilots travel and lifestyle concierge app Crew
Swiggy has launched a travel and lifestyle concierge app, Crew, on a pilot basis, according to information about the app published on Google Play Store. This marks the Bengaluru-based company's entry into a new business after food delivery, dining out, quick commerce and professional services. The app, which involves human concierges in addition to generative artificial intelligence (AI), helps users plan trips, going beyond simply suggesting itineraries.A Swiggy spokesperson did not comment on the year, ahead of its initial public offering (IPO), the company had started testing Rare Life, a personalised concierge service focused on elite and exclusive experiences. However, this project was discontinued after Swiggy decided not to scale it up beyond a small cohort. In January, the company rolled out professional services marketplace Pyng, signalling that it was following a house of apps strategy similar to Chinese tech giants Alibaba and Meituan, which have also had multiple apps for various services. This is in contrast to the 'superapp' strategy, where consumers are expected to come for one basic use-case and transact across multiple services. Also, superapps are yet to see any noteworthy success at scale in Crew and Pyng, Swiggy now has the main app, which houses food delivery, quick commerce, dining out and its events platform Scenes. The quick commerce unit, Instamart, also got a separate app in launch of Crew was first reported by Entrackr. Swiggy recently suspended its peer-to-peer parcel delivery service Genie, which was available in 70 cities. The company has also licenced its cloud kitchen brands to food service outfit Kouzina, with plans to fully transfer these businesses upon fulfilment of certain conditions. On Friday, Swiggy shares ended 3.1% higher at Rs 385.90 on the BSE.
Time of India
12 hours ago
- Business
- Time of India
Swiggy pilots travel and lifestyle concierge app Crew
Swiggy has launched a travel and lifestyle concierge app, Crew, on a pilot basis, according to information about the app published on Google Play Store. This marks the Bengaluru-based company's entry into a new business after food delivery, dining out, quick commerce and professional services. The app, which involves human concierges in addition to generative artificial intelligence (AI), helps users plan trips, going beyond simply suggesting itineraries. A Swiggy spokesperson did not comment on the development. Last year, ahead of its initial public offering (IPO), the company had started testing Rare Life, a personalised concierge service focused on elite and exclusive experiences. However, this project was discontinued after Swiggy decided not to scale it up beyond a small cohort. In January, the company rolled out professional services marketplace Pyng, signalling that it was following a house of apps strategy similar to Chinese tech giants Alibaba and Meituan, which have also had multiple apps for various services. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories This is in contrast to the 'superapp' strategy, where consumers are expected to come for one basic use-case and transact across multiple services. Also, superapps are yet to see any noteworthy success at scale in India. Besides Crew and Pyng, Swiggy now has the main app, which houses food delivery, quick commerce, dining out and its events platform Scenes. The quick commerce unit, Instamart, also got a separate app in January. The launch of Crew was first reported by Entrackr. Swiggy recently suspended its peer-to-peer parcel delivery service Genie, which was available in 70 cities. The company has also licenced its cloud kitchen brands to food service outfit Kouzina, with plans to fully transfer these businesses upon fulfilment of certain conditions. On Friday, Swiggy shares ended 3.1% higher at Rs 385.90 on the BSE.
Time of India
19 hours ago
- Business
- Time of India
Stocks to buy today: Swiggy, Wipro among 5 trading ideas for 20 June 2025
Indian market is expected to consolidate, mirroring mixed global signals, after the Nifty50 closed slightly lower. Options data suggests a trading range between 24,300 and 25,300. Indian market may remain stable on Friday. This is due to mixed global signals. Nifty50 closed lower on Thursday. Options data suggests a trading range. Analysts recommend specific stocks for short-term trading. These include Swiggy, Eicher Motors and Wipro. Kotak Bank and M&M futures are also suggested buys. Experts advise traders to consider stop-loss levels. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads We have collated stocks from various experts for traders who have a short-term trading horizon: Expert: Pritesh Mehta, Lead Technical Analyst at YES Securities told ETBureau F&O Strategy: Amit Trivedi, VP at YES Securities told ETBureau The Indian market is likely to consolidate on Friday, tracking mixed global Nifty50 closed 18 points lower at 24,793 on Thursday. India VIX fell 0.14% to close at 14.26 in the previous the options front, the maximum Call OI is placed at 25,000 and then towards 26,000 strikes while the maximum Put OI is placed at 24,000 and then towards 23,000 writing is seen at 24,800 and then towards 26,000 strikes while Put writing is seen at 24,800 and then towards 24,000 strikes. Price action suggests that the Nifty50 index is facing selling pressure near the 25,000 mark.'Options data suggests a broader trading range in between 24,300 to 25,300 zones while an immediate range between 24,600 to 25,000 levels,' Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited , said.'The FIIs long-short ratio is hovering near 20% from past few sessions but index witnessed selling pressure from higher levels as follow up buying was missing,' he said.'Now if it manages to hold above 24,700, up move can be seen towards 24,950 and 25,200 zones while a hold below the same could see weakness towards 24,600 then 24,450 zones,' recommended Target Rs 410| Stop Loss Rs 361Buy| Target Rs 5,830| Stop Loss Rs 5,340Buy| Target Rs 290| Stop Loss Rs 257Buy| Target Rs 2,272| Stop Loss Rs 2,080Buy| Target Rs 32,96| Stop Loss Rs 2,990: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)
Time of India
20 hours ago
- Business
- Time of India
Bet on Hero Moto, Swiggy; go for Gold BeES in an uncertain market: Rahul Sharma
Rahul Sharma , Director & Head - Technical & Derivatives Research, JM Financial Services , suggests keeping an eye on Nifty levels of 24,450 and 24,200. Sharma advises hedging portfolios with Gold BeES amid geopolitical instability. Gold is expected to perform well during war escalations. Investors should consider increasing positions in Gold BeES ETF for diversification. Hero Moto and Swiggy are identified as promising stocks for long-term investment. These stocks show potential for growth. Looking at the market, what are the specific picks that you have for our viewers today? Rahul Sharma: It is an interesting time for the market. We are seeing Nifty exhibiting range-bound trade. We are seeing crude oil jumping up. Gold has started rallying and war is something that the market is keeping a close eye on. So, in case the escalations do happen, we expect volatility to creep back into the markets. Keep an eye on these two levels of the Nifty, the first one is 24,450 and the second one is 24,200. As long as these two levels are intact, the range bound scenario should continue. Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track default , selected Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Dukung Orang Terkasih Menghadapi Limfoma: Mulai Di Sini Limfoma Baca Undo In case you want to hedge your portfolio, we are advising clients to get into Gold BeES. Whenever there has been geopolitical instability or whenever there has been escalations on the warfront, gold has been a saviour and this time around also we expect it to be the same. As a hedge, one can look to increase positions or add positions on gold BeES which is an ETF, essentially gives a diversification on the asset class and apart from that, the two stocks that look good on the long side are Hero Moto and Swiggy. Hero Moto has been consolidating around the Rs 4350-4400 mark since the last few days and we feel structurally the stock is still pretty strong. One can look to buy at these levels for a target of Rs 4775, even Rs 4,800 and a stop loss can be placed at Rs 4149. So, Hero Moto is the one stock that we are recommending to clients. Apart from that, Swiggy is another trade which we are advising clients to buy in delivery. The stock can be bought at these levels for a potential upside target of Rs 400 on the upside in the short term and stop loss can be placed at 365. These are the two ideas that can be initiated apart from the gold BeES investment that we have recommended, especially given the next 10-15 days where the uncertainty is at its peak. Live Events You Might Also Like: If West Asia conflict spreads and oil pips $80, it will upset the apple cart for Indian & Asian equities: David Chao What is your take on the overall auto pack because after a while we are seeing this sector making a comeback. Hero MotoCorp is one of your preferred bets, but other than that, even Eicher Motors , the top gainer in Nifty 50, M&M, Bajaj Auto counters are bucking the trend after a while now. Rahul Sharma: Yes, you nailed it. In fact, we are seeing some green shoots on the auto side. So, to begin with, it is a two-wheeler auto space which is exactly the reason why we are recommending Hero Moto. Even Eicher Motors is looking pretty good on the charts. We feel that Rs 5,700-5,800 is very much on the cards provided the Nifty does not really get into a throw down mode from the current range bound setup. Eicher looks good from these levels. It can be bought at Rs 5,400 and overall we feel that auto pack at least is showing some signs of green shoot. From the four-wheeler auto pack, M&M looks formidable and this can head its way to a relatively smaller target around Rs 3,200. We are expecting this in the short term. We are advising clients to be very stock specific and at the same time unless and until, Nifty does not come out of this range-bound setup, it is best to avoid leverage positions and stay in cash or to delivery-based investments. You Might Also Like: How should you place your bets as Nifty makes a U-turn from 25,000? Vinay Rajani answers Markets in a sideways zone and looking at West Asia development, tariff deadline: Dipan Mehta
