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Auto startups' revenue goes vroom vroom!; How Entrust Family Office manages wealth
- Resignations in Indian tech industry such as Shreyas Srinivasan of Paytm Insider, and Muralikrishnan B of Xiaomi India institutionalize the phrase 'Step down to step up'.
- Swiggy raises INR 5085 CR ($605mn) from major anchor investors ahead of its public issue. This will allow the company to build Imart's existing network for quick deliveries.
- After a sharp mark down in its valuations, Ola Electric's 50% shares are under scrutiny. Vanguard has now valued it at $2bn as opposed to $7.3bn in 2018 while its shares have plummeted by 7%.
- Policybazaar's parent company, PB Fintech reported a 44% YoY increase in Q3 FY24 while turning around its loss to a profit of INR 51 CR from last years loss of INR 21 CR.
- Spinny, CarTrade Tech, and Euler Motors have displayed growth in their revenues and profits in Q2 and FY24.
- Entrust Family Office who's one of the marquee clients included Nandan Nilekani and Accel's Founding Partner Prashanth Prakash provides a full suite of in-house services to manage wealth.
- Priyanka Roy Kapur, co-founder and director at The LiveWire Experience has now launched RoyKapur Wedding Co that provides luxury weddings for clients. She also plans to expand their established business in new geographic markets.
- Meta Platforms has been fined 21.62 billion won ($15.67mn) over violation of sensitive user data. The Network for Greening the Financial System reported the chances of climate change impacting global GDP has quadrupled by 2040.
- Apple's internal survey for AR glasses to understand the prefered features, materials, and pricing for their new device.
- Trivia Question: Who was the only US president to serve as president and vice president without being elected? Answer: Gerald Ford.
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