Connect with us

Latest News

New Uber CEO Meets Employees In An All Hands Meeting

Published

on

New Uber CEO Meets Employees,New Uber CEO,2017 Business Latest News,Dara Khosrowshahi as Uber New CEO,startup stories,Uber CEO Dara Khosrowshahi,uber latest news,Uber New CEO,Uber new CEO Salary,Uber News Today

The new Chief Executive Officer of Uber, Dara Khosrowshahi met all the employees in an ‘all hands’ meeting to discuss the future of the company and bid adieu to the former CEO and co founder Travis Kalanick. The incoming CEO made his intentions for the company clear and announced his plan to take the ride hailing startup public in the next 18 to 36 months.

Khosrowshahi, who will take up his post as the new CEO next Thursday, addressed a packed room regarding the need to address cultural issues within the organization and restore confidence in the startup currently valued at $ 69 billion. The former Expedia CEO who had to flee Iran at the age of 9 said he is a fighter and will fight with every bone in his body. “We’re in a battle here. I think everybody knows it. I’m here, I made the decision, I am all in, and I’m going to fight for you with every bone in my body,” he added.

 

Uber which is facing the most scandal ridden and tumultuous time will need major changes at the leadership level as well as a cultural shift to restore faith in its consumers and stakeholders. Khosrowshahi added his priorities were to meet with the leadership team and fill the many management holes such as the vacancies for several key positions and get together with employees around the world, in smaller groups, over the next few weeks. The company at the time does not have a CFO, a chief operating officer, a chief marketing officer, a general counsel and a senior vice president of engineering.

Khosrowshahi who will be taking the full charge of the company reiterated his plans to focus on “paying the bills” or the core business and regaining market share from its rivals. His vision for Uber 2.0 will focus on a cultural shift in the company and he added that culture needs to be written from the bottom up, rather than pushed down from the top.

Ousted CEO Travis Kalanick in an email to the employees said he couldn’t be happier “to pass the torch to such an inspiring leader,” who helped grow Expedia into one of the world’s most successful travel and technology platforms. Kalanick also bid a tearful farewell to the employees at the meeting who responded with a standing ovation for the co founder. An emotional Travis described the last six months as the hardest of his life and admitted to making many mistakes in his tenure as CEO.

Early shareholder Benchmark, who sued Travis Kalanick for misleading the board, also approved the appointment of Dara as the new chief executive officer.

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Latest News

Zepto Prepares for IPO with $250 Million Secondary Share Sale to Boost Domestic Investor Ownership

Published

on

Zepto Prepares for IPO with $250 Million Secondary Share Sale to Boost Domestic Investor Ownership

Zepto, the Bengaluru-based quick commerce startup, is preparing for its initial public offering (IPO) by facilitating a secondary share sale worth up to $250 million. This strategic move aims to increase Indian investor ownership from approximately 33% to nearly 50% before the anticipated public listing later this year or early next year.

Funding and Investor Details

The secondary sale will involve private equity firms, including Motilal Oswal Financial Services and Edelweiss Financial Services, allowing existing investors and employees to liquidate their shares. Although Zepto will not raise additional capital through this transaction, it is expected to execute the sale at a valuation of just over $5 billion, consistent with its last funding round in November 2024.

Objectives Behind the Sale

The primary goal of this secondary share sale is to enhance domestic ownership in Zepto, aligning with regulatory preferences and making the IPO more attractive to local institutional investors. Co-founders Aadit Palicha and Kaivalya Vohra currently hold about 20% of the company, and increasing Indian shareholder stakes is seen as a way to strengthen governance and influence over the company’s future direction.

Market Context

Zepto operates in India’s competitive grocery delivery market, facing challenges from established players like Amazon India, Swiggy, Zomato, and BigBasket. Founded in 2021 by Palicha and Vohra after they dropped out of Stanford University, Zepto has quickly gained traction in the quick commerce sector.

Conclusion

As Zepto approaches its IPO, this secondary share sale represents a crucial step in solidifying its position in the Indian market. By boosting domestic investor participation, Zepto aims to enhance its credibility and appeal as it prepares for a public listing amidst a wave of Indian startups entering the stock market.

Continue Reading

Latest News

Regional OTT Platform STAGE Raises $12.5 Million to Expand Bhojpuri and Cultural Offerings

Published

on

Regional OTT Platform STAGE Raises $12.5 Million to Expand Bhojpuri and Cultural Offerings,Startup News,Startup Stories,Startup Stories 2025,Startup Stories India,Tech News,Latest News,OTT,Bhojpuri,Cultural,STAGE,Regional OTT Platform STAGE,Indian OTT Platform STAGE Nets $12.5M Series B,STAGE News,CEO Vinay Singhal,OTT News,OTT Platform STAGE Secures $12.5 Million,STAGE Secures $12.5M Series B,STAGE Bags $12.5 Mn In Funding,Regional OTT Platform STAGE App,STAGE OTT,STAGE App,Series B,STAGE Latest News

Regional OTT platform STAGE has successfully raised $12.5 million in its Series B funding round, a move that highlights the increasing demand for regional content in India. The round was co-led by Goodwater Capital and Blume Ventures, with participation from Physis Capital and several angel investors.

The funding includes $10 million in primary capital and $2.5 million from secondary share sales, allowing early investors to partially exit. This capital will enable STAGE to enhance its content offerings, particularly in underserved languages like Bhojpuri, while strengthening its technological capabilities.

 

Since its launch in 2019, STAGE has quickly established itself as a leader in the regional OTT market, reporting an Annual Recurring Revenue (ARR) of ₹180 crore (approximately $21.7 million) and over 4.4 million paying subscribers. The platform has achieved over 20 million app installs and experienced significant growth, with a 289% increase in revenue and a 286% rise in subscribers over the past year, driven by original series such as Videshi Bahu, Kaand 2010, and Bhawani.

 

CEO Vinay Singhal emphasized that this funding is not just financial support but a validation of India’s diverse regional cultures. He noted that dialects like Haryanvi and Bhojpuri should be celebrated rather than viewed as liabilities. With this new funding, STAGE plans to further invest in content creation and technology development to enrich its storytelling experience.

 

As the demand for regional language content continues to grow, STAGE’s strategic investments position it well to expand into more languages and cultural narratives, solidifying its place in the competitive OTT landscape alongside platforms like aha video and Chaupal.

 

Continue Reading

Latest News

From Space to Earth: Sunita Williams’ Inspiring Journey and Homecoming Celebration

Published

on

From Space to Earth: Sunita Williams' Inspiring Journey and Homecoming Celebration,Startup Stories,Startup Stories India,Inspirational Stories 2025,Latest Technology News and Updates,2025 Technology News,Tech News,startup news,Sunita Williams,Sunita Williams space journey,Sunita Williams homecoming,NASA astronaut Sunita Williams,Sunita Williams space achievements,Sunita Williams return to Earth,Sunita Williams Highlights,Sunita Williams Inspiring Journey

Sunita Williams, the celebrated Indian-American astronaut, recently returned to Earth after an extended nine-month mission aboard the International Space Station (ISS). Initially scheduled for just eight days, her mission was prolonged due to technical issues with the Boeing Starliner spacecraft, which rendered it unsafe for their return.

On March 19, 2025, Williams and fellow astronaut Butch Wilmore safely splashed down off the Florida coast. 

 

Their homecoming was celebrated in Jhulasan village, Gujarat, where special prayers and rituals were held to honor her safe return. Family members expressed their joy and gratitude, emphasizing her strong ties to her ancestral home.

Upon her return, Williams received accolades from Indian officials, including a letter from Prime Minister Narendra Modi, who expressed pride in her achievements and resilience. He highlighted the inspiration she provides to future generations of scientists.

 

While her return marks a moment of celebration, it also signals the start of new challenges. After spending 286 days in space, Williams will undergo a 45-day rehabilitation period to readjust to life on Earth and regain physical strength.

Sunita Williams’ journey serves as an inspiration not only for India but for aspiring scientists worldwide, showcasing the significant contributions of Indian-origin individuals in global space exploration.

Continue Reading
Advertisement

Recent Posts

Advertisement