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Business News This Week: 1st January 2018 to 6th January 2018

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Business News This Week,Startup Stories,Inspirational Stories 2018,Stock Sell in Uber,Food Ordering and Delivery Platform Swiggy,Swiggy Business News 2018,Flipkart Invest In Logistics Arm eKart,Salil Parekh New Infosys CEO,Alibaba and XpressBees Business,Startup Funding News 2018,Startup Stories Tips 2018,Biggest Startup Moments of 2017,How To Get Promoted Faster,How To Get Funding For Startups,How To Build Enterprise From Scratch

New year, new aims and new resolutions! The new year started with a bang marking the beginning of a new era for startups, innovations and inventions! If you were too caught up with New Year celebrations, catch up with the news of this week with our weekly wrap up.

ECOMMERCE SITES TO DISPLAY THE MRP AND EXPIRY DATE
This new year, all ecommerce sites will now have to display the Maximum Retail Price (MRP) and the expiry date of all the human consumable products on all their sites. This move comes after multiple customers complained about such ecommerce sites hiking the prices of their products in order to provide bigger discounts. The etailers had until January 1, 2018, to comply with the government’s order to display all the important details about the products up for sale. However, according to a survey by LocalCircles, only 42% of 10,000 respondents had seen products listed above MRP and then discounted off the inflated price.

ALIBABA TO INVEST IN LOGISTICS STARTUP XPRESSBEES
The China based ecommerce firm Alibaba has been keenly looking to invest in multiple Indian startups to build its ‘iron triangle.’ For this purpose, the company will be investing close to $ 100 million in the Pune based logistics firm XpressBees and will be closing the deal in the next two to three weeks. Till date, Alibaba and its financial arm Ant Financials have invested in online payment and digital wallet Paytm and online grocery delivery service, BigBasket.

SALIL PAREKH BECOMES THE NEW INFOSYS CEO
After months of searching and numerous disagreements with the founder of India’s largest IT firm Infosys, the company finally found a Chief Executive Officer. After the resignation of Vishal Sikka in August, Salil Parekh will be taking on the reigns of the Bengaluru based information technology (IT) major, Infosys, as the new Managing Director and Chief Executive Officer. According to sources, the new CEO will earn an annual salary of Rs. 16.25 crores, including Rs. 9.75 crores variable pay.

FLIPKART TO INVEST IN LOGISTICS ARM EKART
India’s largest ecommerce company Flipkart, in an attempt to strengthen their logistics arm, infused another $ 257.3 million in eKart. According to filings with the Registrar of Companies, Flipkart raised this sum in multiple tranches between October and November last year. In 2018, according to Kalyan Krishnamurthy, the company would now be focusing on increasing its monthly active users and increasing its revenue.

SWIGGY TO RAISE $ 200 MILLION FROM NASPERS AND TENCENT
 One of India’s fastest growing food ordering and delivery service startup Swiggy will be raising close to $ 200 million from Chinese investment conglomerate Tencent and existing investor Naspers. After ending independent discussions with Japan based venture firm SoftBank, the company is looking to raise funds at a pre money valuation of $ 600- $ 650 million. According to sources, Tencent, which will join the Swiggy bandwagon as a new investor also proposed to increase their investment in the startup to around $ 100 million.

UBER CO FOUNDER TRAVIS KALANICK TO SELL 29% OF STOCK
After facing scandal upon scandal and fighting multiple lawsuits, the global taxi hailing startup Uber is finally on track to raise much needed capital from SoftBank and other investors. For this purpose, the co founder of Uber and former CEO Travis Kalanick will be selling 29% of his stock in Uber for about $ 1.4 billion. As a part of the latest investment round, SoftBank and a consortium of investors have agreed to buy stock from existing investors and employees, valuing the company at $ 48 billion. Post this transaction, SoftBank will take a 17% stake in the ride hailing services company.

That’s all for this week! Subscribe to our portal to never miss updates from the startup world! If your startup has an exciting announcement coming up, you can even write to us at [email protected]. Catch up with the highlights of the week with our The News This Week section.

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MPL to Lay Off 60% of India Workforce Following Online Gaming Ban

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MPL

Mobile Premier League (MPL), one of India’s top online gaming platforms, is set to lay off about 60% of its India workforce following the government’s ban on paid online games. The move, confirmed by MPL CEO Sai Srinivas through an internal email, will impact around 300 employees across multiple departments including marketing, finance, operations, engineering, and legal. This decision comes as a direct result of the Promotion and Regulation of Online Gaming Bill, 2025, which restricts paid online games involving monetary stakes to address concerns over financial risks and addiction among young users.

India contributed nearly half of MPL’s revenues, estimated at around $100 million in the 2024-25 fiscal year. With the ban on paid gaming, MPL’s primary revenue source in India has been effectively cut off, prompting the company to shift focus towards free-to-play games and expand its presence in overseas markets such as the United States and Brazil. Despite the layoffs, MPL has pledged to support the affected employees through the transition period. CEO Sai Srinivas expressed regret over the downsizing but highlighted the company’s commitment to developing new business models for the Indian market amid the regulatory changes.

This development significantly disrupts the Indian online gaming industry, which was on track to grow into a $3.6 billion sector by 2029 before the introduction of the ban. While competitors like Dream11 have adapted by discontinuing paid games and avoiding layoffs, the ban has forced many gaming startups in India to rethink their operations. The government’s regulation targets all games involving real money stakes, including fantasy sports and popular card games like rummy and poker, reshaping the future landscape for the country’s gaming ecosystem and its workforce.

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NCLT Approves Amalgamaxtion of Info Edge Subsidiary Makesense with PB Fintech

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Info Edge - PB

The National Company Law Tribunal (NCLT) has granted approval for the amalgamation of Info Edge’s subsidiary, Makesense Technologies, with PB Fintech as of August 29, 2025, in a significant move for India’s fintech sector. This strategic merger aligns with Info Edge’s ongoing focus on streamlining its corporate structure and supports PB Fintech’s growth trajectory as the operator of leading platforms such as Policybazaar and Paisabazaar. The amalgamation, cleared by NCLT’s Chandigarh bench, took place without winding up either company, enabling a seamless blending of assets and expertise for greater operational efficiency.

In the specifics of this deal, Makesense Technologies—holding a 13.04% stake in PB Fintech as of June 2025—will see its shareholders allotted 59,750 equity shares and 60,030 compulsorily convertible preference shares from PB Fintech, with no change to Info Edge’s underlying economic interest. The consolidation is expected to cut compliance and administrative costs, simplify the equity structure, and enable both companies to focus on core business strengths without duplication of resources. This move is designed to strengthen PB Fintech’s position in India’s fast-evolving fintech and insurance market, while keeping Info Edge’s investment objectives intact.

The NCLT-approved merger highlights a broader trend of consolidation within India’s tech-driven industries, as major players seek to boost competitiveness and achieve sustainable growth through mergers and amalgamations. Stakeholders—including shareholders and employees—are set to benefit from the new, streamlined structure, increased transparency, and the promise of enhanced value creation going forward. The unification of Makesense Technologies and PB Fintech is expected to make a positive impact on the broader fintech ecosystem, reinforcing both companies’ leadership and innovation agendas.

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ShareChat Appoints Neha Markanda as CBO

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Sharechat

ShareChat, one of India’s premier social media platforms, has strengthened its leadership by appointing Neha Markanda as Chief Business Officer for both its flagship ShareChat platform and the popular short video app Moj. Markanda, previously Head of Industry, E-commerce at Google India, brings over 22 years of expertise across renowned companies like Meta, GSK Consumer Healthcare, PepsiCo, and ITC. At Google India, she led transformative strategies in e-commerce and health tech, ensuring market growth and technological innovation for global brands. Her proven track record uniquely positions her to drive ShareChat’s revenue strategy, business expansion, and partnerships with advertisers and regional stakeholders.

Markanda’s appointment comes at a pivotal time for ShareChat, which recently achieved profitability and has projected a robust ₹1,200 crore revenue run rate for the year. The platforms boast a combined monthly active user base of more than 325 million, making ShareChat and Moj essential tools for marketers seeking to increase engagement across India’s diverse regions. Markanda’s expertise is expected to further accelerate ShareChat’s business growth, opening doors for brand collaborations and hyper-targeted influencer campaigns, which can connect marketers to local audiences in a culturally relevant manner.

With advanced degrees from the Indian Institute of Foreign Trade and Lady Shri Ram College, Markanda’s leadership is set to reinforce ShareChat’s momentum as India’s go-to platform for marketers and creators looking for trusted, brand-safe environments. Her focus on vernacular content and building robust partnerships will complement ShareChat and Moj’s mission to empower regional creators and deliver authentic engagement. Industry experts have lauded this strategic move, anticipating that Markanda’s vision will help ShareChat and Moj maintain their edge in India’s social media landscape.

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