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Uber Board Votes For SoftBank Deal

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The Board of Uber Technologies Inc., has announced that they will go ahead with the Softbank investment deal and thereby, curb the power of the former Chief Executive Officer, Travis Kalanick. The board, in an attempt to move past the months of strife, unanimously passed a series of measures to shore up corporate governance by bringing in major investor SoftBank.

The changes were adopted by all the 11 members of the board in an attempt to recover from a myriad of legal problems by stripping Kalanick and other early investors of their extra voting power. According to sources, Kalanick has agreed to the provisions which will partially weaken his power in the company and to pursue an initial public offering of Uber’s stock by the end of 2019. In a statement, the Uber board said the changes in the governance would strengthen its independence and ensure equality among all shareholders.

The changes in the company includes expanding the number of board seats to 17 from the existing 11. The 17 board members will comprise of three independent directors voted on by the board, including a chairperson and up to three seats for SoftBank, depending on the size of the investment. Sources also added the two directors appointed by Kalanick in a surprise move, Ursula Burns and John Thain, will also remain on the board. Meanwhile, shareholders will have the power of one vote per share which will effectively put an end to the voting power held by the early investors, including Benchmark.

This investment by SoftBank and others preserves Uber’s previous valuation of $ 69 billion, which is considered to be the highest among the world’s venture backed startups. “SoftBank’s interest is an incredible vote of confidence in Uber’s business and long-term potential,” Uber board added in the statement. SoftBank will be investing close to $ 1.25 billion in the company and will also be spending $ 10 billion to buy shares from existing investors. This round of investment is a collaboration between Dragoneer Investment Group and Tencent Holdings.

In another separate statement, Kalanick added the decision taken by the board is a major step forward in Uber’s journey to becoming a world class public company. “We approved moving forward with the Softbank transaction and reached  (an) unanimous agreement on a new governance framework that will serve Uber well. Under Dara’s leadership and with strong guidance from the Board, we should expect great things ahead for Uber,” he added.

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Google’s Iconic ‘G’ Logo Gets First Update in 10 Years

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Google has refreshed its iconic ‘G’ logo for the first time in nearly 10 years, replacing the familiar solid blocks of red, yellow, green, and blue with a smooth, vibrant gradient that blends these colors seamlessly. This subtle update gives the logo a softer, more fluid, and modern appearance, aligning with Google’s evolving digital identity and current design trends.

The new gradient transitions smoothly from red to yellow, yellow to green, and green to blue, making the logo more visually appealing and adaptable across various devices, especially on mobile platforms. This redesign also reflects Google’s growing emphasis on artificial intelligence, echoing the gradient style used in the branding of Google Gemini, the company’s AI-generative assistant.

The updated ‘G’ logo has started rolling out on iOS through the Google Search app and on some Android devices, particularly Pixel phones running the Google app beta version 16.18. However, most other platforms, including the web and non-Pixel Android devices, still display the classic solid-color logo. A wider rollout is expected in the coming weeks.

So far, Google’s main wordmark and other product logos like Chrome, Maps, and Gmail remain unchanged. Given the shift toward gradient designs and AI-inspired visuals, similar updates to other Google icons may follow in the future.

In summary, this first major update to the ‘G’ logo since 2015 signals a subtle but meaningful shift in Google’s branding strategy, blending tradition with innovation as the company deepens its focus on AI and modern design aesthetics.

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Ixigo Halts Bookings for Flights and Hotels to Turkey, China

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Indian online travel platform ixigo has suspended all flight and hotel bookings to Turkey, China, and Azerbaijan in response to these countries expressing support for Pakistan after India’s military strikes-dubbed ‘Operation Sindoor’-against terror bases in Pakistan and Pakistan-Occupied Kashmir. The move, announced by CEO Aloke Bajpai on X, was described as an act of solidarity with India during heightened diplomatic tensions following the Pahalgam terror attack.

ixigo’s decision aligns with similar actions by other Indian travel companies, including EaseMyTrip and Cox & Kings, which have also restricted travel services to Turkey, China, and Azerbaijan. The suspensions come amid widespread calls for boycotts after these countries condemned India’s military response and backed Pakistan.

The travel industry’s collective response underscores how geopolitical developments are influencing business decisions, with Indian companies emphasizing national interests and unity in the face of international criticism

 

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MapmyIndia Sees 28% Surge in Q4 Profit, Hits INR 49 Cr

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MapmyIndia reported a strong fourth quarter for FY25, with consolidated net profit rising 28% year-on-year to INR 49 crore, up from INR 38.3 crore in Q4 FY24. Revenue from operations jumped 34% to INR 143.6 crore, while total income climbed 40% to INR 166.8 crore. EBITDA surged 47% to INR 58 crore, and the EBITDA margin expanded to 40% from 37% a year ago.

The Consumer Technology & Enterprise Digital Transformation (C&E) segment led growth, with revenue up 60% to INR 88.1 crore, while the Automotive & Mobility Technology (A&M) segment rose 7% to INR 55.4 crore. The company’s map-led business maintained strong EBITDA margins at 47%, and IoT-led margins improved to 14% in FY25 from 12% last year, reflecting a shift toward SaaS revenue.

For the full year, net profit increased 10% to INR 147.6 crore, and operating revenue grew 22% to INR 463.3 crore. The order book at year-end stood at INR 1,500 crore, up 10% year-on-year, supporting the company’s target to surpass INR 1,000 crore in revenue by FY28.

MapmyIndia also announced the renaming of its subsidiary Vidteq to Mappls DT, focusing on digital transformation and defence tech, led by former CEO Rohan Verma. The company declared a final dividend of INR 3.50 per share for FY25, and its shares closed 1.54% higher following the results.

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