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2-10-2017 To 7-10-2017

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The News This Week,Startup Stories,Latest Business News 2017,Ola Latest Breaking News,Biggest Retention Coup,Uber Business,Karnataka Government News,AI Hub,India Richest Man 2017,Facebook Tests Workplace Chat App,Google Hardware Event,Startup News highlights of the week,Inspirational Stories 2017

The month of October started off with a long weekend celebrating Dussera and Gandhi Jayanti. Post a surprise announcement by the founder of global taxi hailing startup Uber, the past week was relatively calmer with multiple investments in the Indian startup ecosystem.

Here are the highlights of the week:

Ola To Raise Fresh Funds From SoftBank And Others
The homegrown taxi service hailing startup based in Bengaluru secured a $ 2 billion investment from Japan’s SoftBank Group Corp., and from China’s Tencent Holdings. This round of funding marks the second largest funding received by an Indian startup.

Flipkart Pulls Off One Of The Biggest Employee Retention Coup Yet
In order to retain employees, Flipkart pulled of one of the biggest retention coup by providing thousands of employees Flipkart shares and providing them the opportunity to liquidate their shareholdings later. Under this scheme, 35% to 40% of its mid level to senior level employees would receive stock values instead of their salaries.

Uber Board Votes For SoftBank Deal
The board of global taxi hailing company Uber, announced major changes in their governance strategy in an attempt to move past the months of strife. The changes were adopted unanimously by the 11 members of the board, which includes expanding the number of board seats to 17 from the existing 11. The company might also pursue an initial public offering of Uber’s stock by the end of 2019.

Karnataka Government To Invest $ 6 Million In AI Hub
The Karnataka Government has always been at the forefront of technological changes and upgrades in the country. Keeping up the pace, the government is all set to invest Rs. 40 crores to build a state of the art artificial intelligence (AI) and data science capabilities center. With NASSCOM as the programme and implementation partner, the tech hub will be named as the Centre of Excellence for Data Science and Artificial Intelligence.

Mukesh Ambani: India’s Richest Man For The Tenth Year
While inheriting a business might seem like a good boost inside an industry, taking the business to the next level requires a lot of skills and capabilities. Mukesh Ambani is one such businessman who made a name for himself out the shadow of his father, Dhirubhai Ambani. By doing so, he was named as the richest Indian by Forbes for not two or three years, but ten consecutive years.

Facebook Tests Workplace Chat App For Mac And PC
Social media giant Facebook very discreetly launched the beta version of the dedicated Workplace app for desktops. This beta app, called Workplace Chat, will also support screen sharing along with voice and video calling, customized push notifications, one on one chats and group chats. The new app will allow employees to message coworkers throughout the day without relying on a browser tab.

Google Hardware Event
The global search engine giant Google finally unveiled their latest new smartphones, smart speakers and other gadgets at the Google Hardware Event. Demonstrating its commitment to making new devices along with new and improved software developments, Sundar Pichai, the CEO of Google, launched their two new Pixel smartphones along with the Google Home speakers, a new laptop, a virtual reality headset and wireless headphones.

GST Made Simpler For Small Entrepreneurs In India
Three months after the Goods And Services Tax was launched, the Government decided to revamp various aspects of the new taxation process. The renewed indirect tax regime involves a slew of new measures to reduce the burden and stress the implementation of the GST brought to exporters and small businesses. PM Narendra Modi said these changes were in line with the government’s endeavor to safeguard the citizens’ interests and ensure a growth in the Indian economy.

China’s Tencent Holdings Invests $ 400 Million In Ola
China based Internet giant Tencent Holdings invested $ 400 million in the cab aggregator startup Ola through their Singapore based investment arm Copper Technology Pte., Ltd. Ola’s parent company ANI Technologies Pvt., Ltd., will issue 1,908,143 preferential shares at Rs.13,521 apiece to Copper Technologies. Post this investment, Ola’s valuation will increase to $ 4.1 billion from the current $ 3.8 billion valuations.

The coming week seems to be gearing up to be an exciting one as well! Catch up with the highlights of the week with our The News This Week section.

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IIT Hyderabad Unveils Palyanka, Heavy-Lift Drone for Air Ambulance Use

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The Technology Innovation Hub on Autonomous Navigation Foundation (TiHAN) at IIT Hyderabad has set a new standard in drone technology with the launch of Palyanka, a heavy payload drone designed as an autonomous air ambulance. Capable of carrying up to 200 kg, Palyanka is engineered to swiftly transport patients, medical equipment, or critical cargo across challenging terrains, bypassing traditional barriers like road congestion and remote inaccessibility. This advanced UAV operates autonomously, making it highly effective for rapid response in both urban and rural emergencies, and stands at the forefront of disaster relief operations in scenarios such as floods and fires.

Built for versatility, Palyanka doesn’t just function as an air ambulance. Its robust design enables use in rescue missions, cargo deliveries, and even as an air taxi for metropolitan connectivity. Inspired by the Sanskrit word for palanquin, the name “Palyanka” reflects the drone’s role as a safe and efficient carrier. All components, from conceptual design to IP, have been developed in-house at IIT Hyderabad, ensuring the drone meets stringent standards for durability and performance under extreme conditions.

With a development journey spanning over five years and led by Prof. P. Rajalakshmi, TiHAN’s team has transitioned from early drone prototypes to a full-scale, high-capacity solution like Palyanka. The team is now preparing pilot projects in hilly terrains and working on further enhancing the drone’s endurance with innovative heat-resistant materials. By pioneering such indigenous solutions, IIT Hyderabad’s TiHAN is transforming emergency medical services and logistics, marking a pivotal advancement in India’s urban mobility and public safety landscape.

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X’s Major Price Cut in India: Premium Plans Now More Accessible Than Ever

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X, the social media platform formerly known as Twitter, has announced a major reduction in its subscription prices across India, slashing fees by up to 48%. The Basic plan now starts at ₹170 per month, down 30% from its earlier price, while the Premium plan has dropped 34% to ₹427 per month on the web. The Premium+ plan has also become more affordable, now costing ₹2,570 per month—a 26% reduction. For mobile users, the discounts are even steeper, with Premium priced at ₹470 per month and Premium+ at ₹3,000 per month, reflecting the impact of app store commissions.

This marks the first comprehensive price adjustment across all three tiers—Basic, Premium, and Premium+—since the service launched as Twitter Blue in India in February 2023. The move comes shortly after Elon Musk’s AI venture, xAI, rolled out the new Grok 4 model and follows xAI’s acquisition of X earlier this year. The price cuts are seen as a strategic effort to boost adoption in India, one of the world’s largest internet markets, by making premium features more accessible to a wider audience.

Each subscription tier offers a range of features: Basic users can edit and write longer posts, enjoy background video playback, and download videos. Premium subscribers get additional perks like a blue checkmark, creator tools, analytics, and fewer ads, while Premium+ members benefit from an ad-free experience, article publishing, and exclusive access to advanced AI features. These changes are expected to make X’s premium services more appealing to Indian users looking for enhanced social media experiences.

 

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Leadership Shakeup at X: Linda Yaccarino Resigns After Two Years at the Helm

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Linda Yaccarino, the CEO of X (formerly Twitter), announced her resignation on July 9, 2025, bringing her two-year leadership of Elon Musk’s social media platform to a close. Yaccarino, who previously led NBCUniversal’s advertising division, was appointed in 2023 to help stabilize X’s advertising business and guide the company through its ambitious transformation into an “everything app.” In her farewell message, she expressed gratitude to Musk for entrusting her with the mission of revitalizing the company, protecting free speech, and prioritizing user safety, though she did not specify a reason for her departure.


Her exit comes at a turbulent moment for X, following the recent controversy involving Grok, the AI chatbot developed by Musk’s xAI, which posted antisemitic content referencing Adolf Hitler. This incident intensified scrutiny of X’s content moderation policies and added to the challenges Yaccarino faced, including restoring advertiser trust after a period of strained relations with major brands. Some analysts have suggested that differences in management style between Yaccarino and Musk, as well as the evolving structure of X after its integration with xAI, may have contributed to her decision to step down.

Elon Musk publicly thanked Yaccarino for her contributions, while her departure leaves a leadership gap as X navigates ongoing business, regulatory, and reputational challenges. The company’s next steps will be closely watched as it seeks to maintain its influence in the social media landscape and fulfill Musk’s vision of a multifaceted digital platform.

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