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Walmart Family Makes $ 4 Million Every Hour And $ 100 Million Every Day

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Walmart Family Makes $4 Million Every Hour,Walmart Family Makes $100 Million Every Day,Startup Stories,Walmart Latest Business Updates,Walmart Latest News,walmart family earnings,Waltons richest dynasty in world,World largest retailer Walmart,Walmart founder Sam Walton,Walmart net worth 2019

The Walton family, in control of the world’s largest retailer, Walmart, was named the richest family in the world by Bloomberg in June 2018.  The family adds $ 70,000 per minute, $ 4 million per hour and $ 100 million per day to their fortune. 

The Walton family consists of Walmart founder Sam Walton’s two sons Jim and Rob Walton and daughter Alice Walton.  It also includes Sam’s late son Jhon’s widow, Christy Walton and her son Lucas. The family owns more than 50 % of Walmart through their individual holdings as well as through holding company Walton Enterprises.  Their collective wealth makes the Walton family the richest in the world.

The Walton family inherited the majority of their fortune from Sam Walton, who founded Walmart as Walton’s Five and Dime in 1945 after borrowing money from his father in law.  Walmart then expanded massively, making Sam Walton the richest man in America at one point in his life.  Now a hugely successful retail corporation, Walmart operates a chain of discount department stores and grocery stores.  The Company has over 11,000 stores in 27 countries and employs over 2.2 million associates worldwide. Based on its annual revenue of $ 514.14 billion, Walmart is considered to be the world’s largest corporation. 

Walmart made news in India after it struck a deal to acquire the Indian ecommerce company Flipkart in 2018.  Walmart acquired 77 % of the Company’s stake from Flipkart co founder Binny Bansal by investing $ 16 billion.

Since the ranking of the Waltons as the world’s richest family in June 2018, their wealth increased by $ 39 billion, making their net worth shoot up to $ 191 billion.

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Tinder U: Revolutionizing Campus Connections for College Students in India

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Tinder has introduced Tinder U, a new feature tailored for university and college students in India. This in-app experience simplifies connections by letting students match with peers from their own campus or nearby colleges. Verified users can personalize their profiles with details like graduation year, major, and campus activities to find matches based on shared interests.

 

Key features include:

  • Simplified Connections: Users can express interest with ‘Like’ or ‘Super Like,’ eliminating awkward DMs.
  • Local Matches: Prioritizes connections within the university and nearby colleges.
  • Safe Environment: Only verified students can join, ensuring authenticity.

 

To access Tinder U, students must verify their college email address (e.g., ending in .edu.in or .ac.in). Once enrolled, they unlock a customized dating experience, including an exclusive app icon for iOS users. This feature aims to foster genuine connections and enhance campus social life, making it easier to meet study partners, friends, or romantic interests

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Uber in Talks to Acquire EV Ride-Hailing Startup BluSmart

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Uber in Talks to Acquire EV Ride-Hailing Startup BluSmart

Uber Technologies is reportedly in early discussions to acquire BluSmart Mobility, a Gurugram-based electric vehicle (EV) ride-hailing startup. The potential deal comes as BluSmart’s parent company, Gensol Engineering, faces financial challenges and explores exiting the capital-intensive EV business.

BluSmart’s Unique Model

Founded in 2019, BluSmart operates an all-electric fleet of over 5,000 vehicles across cities like Delhi-NCR, Mumbai, and Bengaluru. Unlike competitors such as Uber and Ola, BluSmart directly owns its fleet and manages its charging infrastructure. While this model promotes sustainability and premium services, it has led to high operational costs.

Strategic Fit for Uber

Acquiring BluSmart could help Uber expand its EV footprint in India, complementing its “Uber Green” initiative and plans to deploy 25,000 Tata EVs. BluSmart’s fleet and charging network would provide a strategic edge as Uber competes with rivals like Ola and Rapido in the growing EV market.

Financial Pressures on BluSmart

Despite raising over $109 million in funding, BluSmart has struggled with profitability due to high capital expenditures and delays in government EV subsidies. Gensol Engineering’s liquidity issues have further fueled speculation about a potential sale.

Denial of Acquisition Talks

BluSmart has denied any ongoing discussions with Uber, calling such reports speculative. However, industry experts believe the acquisition could reshape India’s EV ride-hailing sector if finalized.

Conclusion

While no deal has been confirmed, Uber’s interest in BluSmart underscores the growing competition in India’s EV mobility space. If successful, this acquisition could strengthen Uber’s sustainability goals while addressing BluSmart’s financial challenges.

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Groww in Talks to Acquire Wealthtech Startup Fisdom

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StartupStories - Groww

Investment tech unicorn Groww, India’s largest stock broking platform, is reportedly in early discussions to acquire Fisdom, a Bengaluru-based wealthtech startup backed by PayU. The deal could value Fisdom between $140 million and $160 million and aligns with Groww’s strategy to diversify its offerings ahead of its anticipated IPO later this year.

About Groww and Fisdom

Groww, founded in 2016, is known for simplifying financial services and is India’s leading distributor of mutual fund SIPs. The company aims to expand beyond trading and mutual fund distribution as it prepares for an IPO that could value it between $6 billion and $8 billion.

Fisdom, established in 2015, offers financial services such as mutual fund investments, insurance, tax filing, and private wealth management. It powers banks and distributors for selling mutual funds and recently launched portfolio management services for high-net-worth individuals (HNIs).

Strategic Implications

The acquisition would allow Groww to leverage Fisdom’s distribution technology and private wealth management expertise. This move could complement Groww’s new wealth platform, “W by Groww,” and help diversify its revenue streams amid regulatory changes impacting derivative trading.

Conclusion

If finalized, the acquisition would strengthen Groww’s position in the wealth management sector while providing Fisdom with growth capital to expand its operations. Regulatory approvals could take up to six months to complete the deal.

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