Hello, Sometimes, one has to step down to step up. The ecosystem has seen a spat of recent resignations, including , CPO for Consumer Products at Paytm and Founder and CEO of Paytm Insider. His exit was triggered by the sale of Insider.
in, Paytm's ticketing business, to food delivery giant Zomato. Xiaomi India President Muralikrishnan B also announced his resignation after working at the Chinese smartphone maker for six years. He will now pursue research interests in consumer behaviour on tech platforms at the Indian School of Business.
Elsewhere, Swiggy raised Rs 5,085 crore ($605 million) from ahead of opening its public issue. Out of the total allocation of over 13 crore equity shares to the anchor investors, 40.65% were allocated to 19 domestic mutual funds.
In other news, Ola Electric has again found itself in hot water. Its shares dropped 7% as the three-month lock-in period for 50% of its shares expired. The development came after asset management company Vanguard slashed its valuation of Ola Consumer to $2 billion as of August—a sharp decline from $7.
3 billion three years earlier. From a mark down to a mark up: Fidelity Management and Research Company has marked up the value of its stake in omnichannel eye retailer by 12% taking the valuation of the company to $5.6 billion, just months after its investment in the company.
In more good news, Policybazaar parent PB Fintech reported a increase in revenue from operations in the July-September 2024 quarter. It turned a p.