Ola Electric has acquired Amsterdam-based electric scooter manufacturer Etergo as it looks to launch its own two-wheelers globally next year. These scooters will be manufactured in India. While Ola did not disclose the deal value, Etergo has raised about $23.3 million to date from German automakers and through crowdfunding. “The future of mobility is electric, […]
Archives for May 2020
How to stop friends and relatives from spreading misinformation about Covid-19
A volunteer in Chennai, India holds a placard to raise awareness about the coronavirus on a street during a government-imposed nationwide lockdown to combat the spread of Covid-19. Arun Sankar | AFP | Getty Images Are you seeing misinformation about the coronavirus across your social media feeds? You’re far from alone. Studies are finding that […]
COSO provides new guidance on risk appetite
News MANAGEMENT ACCOUNTING By Ken Tysiac {:else} {timeSince} {/if} {@if cond=”{isCGMA}”} {:else} {/if} {/.} Risk appetite plays an important role in organizational success and should be considered carefully by leaders as they make strategic decisions. The Committee of Sponsoring Organizations of the Treadway Commission (COSO) has published new guidance on risk appetite focusing on how […]
Premium tax credit unaffected by personal exemption decrease to zero
The IRS issued long-promised proposed regulations explaining how taxpayers who may qualify for the Sec 36B premium tax credit are affected by the temporary reduction of the personal exemption deduction under Sec. 151 to zero (REG-124810-19). The regulations replaced guidance issued in Notice 2018-84. Under Sec. 151(d)(5)(B), the reduction of the exemption amount to zero […]
Mukesh Ambani prepares Facebook-backed Jio Platforms for overseas IPO
By Baiju Kalesh, Anto Antony and P R Sanjai Reliance Industries is working with banks on early preparations for an overseas listing of its digital and wireless business, people with knowledge of the matter said, after the unit attracted more than $10 billion of investment in a month. The conglomerate backed by Mukesh Ambani, Asia’s […]
ETtech Top 5: Uber axes 600 jobs in India, Ola’s financial services bet, home delivery of liquor & more
Happy Tuesday! The disruptions caused by the Covid-19 pandemic have forced many companies to downsize operations. Shared mobility major Uber laid off a fourth of its workforce in India on Tuesday. The job cuts are part of the global retrenchment exercise announced by the ride-hailing app last week. With large parts of the world shut […]
Warner Music kicks off $1.8 billion Nasdaq IPO
Warner Music Group said on Tuesday it is aiming to sell up to $1.82 billion in stock in its U.S. initial public offering, potentially the largest New York IPO so far in 2020 as the market for new stocks rebounds after the Covid-19 pandemic put many debuts on hold. Warner Music, the world’s third-largest recording […]
Ola’s financial services unit raises about Rs 200 crore in maiden funding round
OlaFinancial Services has picked up about Rs 205 crore from investment fund Falcon Edge and venture firm Matrix Partners as part of its first institutional financing round, regulatory filings show. Apoletto Managers, the and Arun Sarin’s family office also participated in the round. This deal closed at a valuation of $250 million, according to two […]
A roast and then rage: Inside India’s online content creation “class wars”
“This was by far the biggest fight in the creator ecosystem, not just in India, but globally. No one had seen anything like this before.” These are words of a popular YouTube creator, whose stint on Google’s video platform, goes back to its early days in India. Amid a global pandemic, it all blew up. […]
Zomato, Swiggy launch home delivery of alcohol in Odisha
Food ordering apps Swiggy and Zomato have started home delivery of alcohol in Odisha, days after first launching the service in Jharkhand. While both companies have begun liquor delivery in Bhubaneswar, other cities including Rourkela, Balasore, Balangir, Sambalpur, Berhampur and Cuttack are next in line. The central government’s move to allow sale of liquor during […]