Anant Raj Signs MoU With Google, Paytm CEO Stays Optimistic, Karnataka HC Rejects BYJU'S Plea and more

Anant Raj has teamed up with Google to boost its data center footprint, while the Bombay HC cracks down on deepfakes, ordering swift action from social media platforms. Yes Madam is shaking up the home salon industry with a new low-commission plan, and BYJU'S faces legal setbacks as the Karnataka HC rejects its plea in the BCCI Case. Besides, CEO Raveendran warned that insolvency proceedings could force thousands of employees to quit. Meanwhile, Paytm’s losses widen but hopes for a revenue rebound, Meta introduces a Verified service for Facebook and Instagram businesses, and RIL's digital ventures make a notable impact.

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What Matters

“Hum Saath Saath Hain”: Anant Raj signs MoU with Google for data center business

Google has signed an MoU with Anant Raj Cloud to provide cloud solutions and develop 300 MW data centers across Manesar, Rai, and Panchkula. These centers will span a combined area of approximately 3.8 million square feet.

With the Indian market anticipating a 20 million sq ft demand and cloud spending growing at a CAGR of 30%, this partnership aims to meet the rising needs of the region.

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“Ye Toh Galat Baat Hai”: Bombay HC Directs Social Media Platforms To Take Down Deepfakes

The Bombay HC has ordered social media giants Facebook, WhatsApp, Instagram, and Telegram to take down all accounts and posts violating the NSE’s trademark. They must also remove any content flagged by the NSE within 10 hours of a complaint.

This comes after deepfakes of the NSE's CEO and MD offering stock recommendations appeared online, prompting the NSE to seek legal action earlier this year.

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“Abhi Toh Party Shuru Hui Hai”: Witnessing The Beginning Of The End Of Tough Times For Paytm, Says Vijay Shekhar Sharma

In the recent earnings call, Vijay Shekhar Sharma candidly addressed Paytm's Q1 FY25 challenges, noting the period's full brunt. Despite a staggering 134% YoY net loss surge to INR 840.1 Cr and a 36% YoY revenue drop to INR 1,502 Cr, Sharma emphasized that the results were anticipated.

This transparent acknowledgment sets the stage for Paytm to strategize and potentially turn the tide on these tough times.

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“Sar Jo Tera Chakraye”: Yes Madam Launches New Plan For Its Partners, Lowers Commission

Yes Madam is turning heads again with its new 'Platinum Partners' plan, slashing commissions for workers to just 8%, claiming it's the lowest in the industry.

This move is part of their bold push towards a zero-commission model. After gaining fame and a INR 1.5 Cr deal on Shark Tank India, Yes Madam continues to shake up the home salon scene.

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“Thoda Reham Karo Malik”: Karnataka HC Rejects BYJU'S Plea In BCCI Case

The Karnataka HC has rejected BYJU'S plea in its ongoing battle with the BCCI over unpaid sponsorship dues of INR 158.9 Cr. Now, the edtech giant is gearing up to approach the NCLAT again on Monday.

This comes after the NCLT admitted BYJU’S parent company into insolvency, adding another twist to the saga involving its high-profile jersey sponsorship deal with the Indian cricket team.

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“Chunatiyo Ka Datt Kar Saamna”: Paytm Q1 Highlights As Loss Widens, But Co Expects Revenue To Improve

In Q1 FY25, Paytm faced a tough quarter with losses surging 134% YoY to INR 840.1 Cr and operating revenue dropping 36% YoY to INR 1,502 Cr. However, the company is optimistic, expecting revenue to improve due to an uptick in merchant signups.

Amidst these developments, Paytm clarified that no binding agreement has been signed regarding the potential sale of its ticketing business, Paytm Insider, to Zomato.

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“Ab Aayega Maza”: Meta Rolls Out Verified Service For Facebook, Instagram Business

Meta has launched its Verified service for Facebook and Instagram business accounts, starting at INR 639 per month for a single app and going up to INR 30,000 per month for two apps. This subscription enhances brand credibility with a verified badge and better account support.

The move follows the recent rollout of Meta Verified for WhatsApp business users in India, priced between INR 1,240 and INR 9,940 per month.

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“Munafe Ke Hazar Tarike”: RIL Q1 As Digital & New Commerce Business Contributes 18%

Reliance Industries Limited (RIL) reported that its digital and new commerce business contributed 18% to Q1 FY25 results, with JioMart's consumer electronics vertical seeing a 14% YoY merchant base increase and sales surge.

Reliance Retail's net profit rose 4.6% YoY to INR 2,549 Cr, and operating revenue increased by 6.6% YoY to INR 66,260 Cr. Additionally, JioCinema achieved a remarkable 620 Mn viewership for IPL 2024, up 38% YoY.

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“Waqt Rehte Sudhar Jaao”: Insolvency Proceedings Will Force Thousands Of Employees To Quit

In a plea to the Karnataka HC, CEO Byju Raveendran warned that insolvency proceedings could force thousands of employees to quit as vendors critical to the startup's online platforms might default.

Raveendran expressed willingness to pay the INR 158.9 Cr pending dues to the BCCI within 90 days. This plea follows the NCLT's recent decision to start an insolvency resolution process against BYJU'S.

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1. Wealthtech startup Stable Money has secured $15 million in a new round from RTP Capital, Lightspeed India, and Matrix Partners. The Bengaluru-based company stands out by closing two funding rounds within a year amidst a challenging "funding winter.”

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