voiceofentrepreneurlife

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Zepto Eyes IPO in 2025 After $350M Funding, Aims Profitability by 2024

Zepto, the fast-growing quick commerce company, is poised for a significant leap with a fresh $350 million funding round led by prominent domestic investors. The company is now steering towards becoming fully Indian-owned by FY26 and is aiming for profitability by the next financial year. In addition, Aadit Palicha, the CEO and co-founder, has alluded to a possible IPO by 2025.

In an interview with PTI, Palicha responded to criticisms that quick commerce disrupts traditional kirana stores, dismissing these claims as “data-free narratives” that fail to recognize the sector’s contribution to job creation and economic growth. “Our 10-minute delivery model has created over 4.5 lakh jobs, offering wages far above the informal sector average,” he explained, emphasizing that Zepto utilizes Indian technology to deliver unmatched grocery services. Read More - https://voiceofentrepreneur.life/zepto-plans-ipo-by-2025-after-securing-350-million-funding-targets-profitability-in-2024/

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SoftBank CEO Meets Startup Founders

On Wednesday, SoftBank CEO Masayoshi Son met with startup founders to discuss topics like Artificial Intelligence (AI), Gen AI potential, investments, and collaborations. Founders from over 10-12 startups, including Paytm’s Vijay Shekhar Sharma, Flipkart CEO Kalyan Krishnamurthy, Lenskart co-founder Peyush Bansal, Ola’s Bhavish Aggarwal, and InMobi founder Naveen Tewari, attended the meeting. According to sources familiar with the meeting, the main focus was on AI and its future.

Son later held one-on-one discussions with a few founders, including Tewari and Aggarwal. Tewari shared insights into InMobi’s work and its AI-based software company, Glance, in the GenAI space. SoftBank first invested in InMobi in 2011, which became India’s first unicorn startup after SoftBank’s $200 million investment.

Sources noted that Son expressed interest in Glance and suggested that SoftBank may invest in it in the future, as it is already backed by investors like Google and Jio Platforms. Read More - https://voiceofentrepreneur.life/softbank-ceo-meets-with-founders-of-startups/

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Meet the Billionaire Richer Than Ambani and Adani

Jensen Huang, the self-made billionaire and founder of Nvidia, one of the world’s most valuable companies with a $3.6 trillion net worth, ranks 11th among the world’s richest individuals, surpassing Mukesh Ambani and Gautam Adani.

Starting as a dishwasher at Denny’s after graduating from Aloha High School near Portland, Huang earned a master’s degree in electrical engineering from Stanford University before working at LSI Logic and AMD. In 1993, he co-founded Nvidia with friends Chris Malachowsky and Curtis Priem. His hard work and leadership have brought him a net worth of $111 billion, solidifying his place among the wealthiest.

In a recent interview, Huang shared his love story with his wife, Lori Huang, whom he met as a 17-year-old freshman at Oregon State University. At a Hong Kong University of Science and Technology event, the 61-year-old revealed his clever pickup line to win her over: “I walked up to her and said, ‘Do you want to see my homework? If you do homework with me every Sunday, I promise you’ll get straight As.’”

At the time, Lori was 19, and Huang admitted that he looked like a child, using homework as an excuse to spend time with her. Their weekly Sunday dates eventually led to their marriage five years later. The couple now has two children, Madison and Spencer, who are involved with Nvidia.

Also Read - https://voiceofentrepreneur.life/meet-the-businessman-wealthier-than-mukesh-ambani-and-gautam-adani-who-charmed-his-wife-with-a-simple-pickup-line/

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Trump's Strategy Outpaces Harris' Vision: Business vs. Consumers

President Donald Trump’s re-election to a second term was a decisive victory for business and investment — two vital engines of economic growth. His campaign promises consistently reflected a strong pro-business ideology, emphasizing support for entrepreneurship and corporate expansion. This approach stood in stark contrast to Vice President Kamala Harris’s consumer-oriented strategy, which appeared to neglect the essential equilibrium between fostering investment and stimulating consumption.

Donald Trump’s business-first agenda

A key highlight of President Trump’s first term was the 2017 Tax Cuts and Jobs Act (TCJA), which prioritized empowering small businesses, entrepreneurs, and investors by allowing them to reinvest more capital into their ventures. The TCJA introduced several pro-growth measures, such as the 20% qualified business income (QBI) deduction, the option to fully expense equipment purchases, and a reduction in the corporate tax rate from 35% to 21%. During his campaign, Trump proposed further lowering the corporate tax rate to 15%, reinforcing his commitment to accelerating corporate investment. Read More-https://voiceofentrepreneur.life/business-vs-consumers-why-trumps-strategy-outpaces-harris-vision/

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xAI's Value Surpasses Musk's Twitter Purchase

Elon Musk’s AI startup, xAI, is reportedly valued at $50 billion, which is $6 billion more than the $44 billion he paid for Twitter, now known as X.

As per a Wednesday report from The Wall Street Journal, xAI announced that it raised $5 billion in a funding round, boosting its valuation to twice what it was earlier this year.

This new valuation of $50 billion now exceeds the $44 billion Musk spent on acquiring Twitter in October 2022. In comparison, X was valued at just $9.4 billion in September, according to Fidelity, which has significantly written down its investment by 79% since the acquisition.

The Journal also noted that xAI had previously been in talks to raise funds at a valuation of $40 billion.

Since Musk’s takeover of Twitter in 2022, the platform has faced challenges, including a drop in advertising revenue due to major brands pulling ads, and difficulty in attracting advertisers back to the platform. Read More-https://voiceofentrepreneur.life/elon-musks-startup-xai-is-now-reportedly-valued-higher-than-the-amount-he-paid-for-twitter/

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Meet the Man Earning More Than Elon Musk – But Not in the Top 10 Richest

Elon Musk, the CEO of Tesla, has solidified his position as the world’s wealthiest individual. A significant 29% surge in Tesla’s stock has raised Musk’s net worth to $314 billion. His wealth has increased by $84.7 billion this year, putting him far ahead of Amazon’s Jeff Bezos, who holds a net worth of $230 billion.

However, Musk isn’t the top earner of 2024. That distinction goes to Jensen Huang, the CEO of NVIDIA. Huang’s net worth has risen by $84.8 billion this year, slightly edging out Musk’s gains. Despite this, Huang’s total wealth stands at $129 billion, ranking him 11th on the global rich list.

NVIDIA’s outstanding performance in 2024 has played a key role in Huang’s wealth growth. The company’s market capitalization recently surpassed Apple’s, reaching $3.621 trillion, making it the most valuable company globally. Huang, who owns a 3% stake in NVIDIA, has greatly benefited from this surge. Read More -https://voiceofentrepreneur.life/meet-the-man-who-earns-more-than-elon-musk-but-isnt-listed-among-the-worlds-top-10-richest-individuals-heres-why/

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Trump Names Ex-WWE CEO as Education Chief

Donald Trump has nominated Linda McMahon, the former CEO of World Wrestling Entertainment (WWE), to head the Department of Education, which he has pledged to eliminate.

In a statement, Trump described McMahon as a “strong advocate for Parents’ Rights” and said, “We will return Education BACK TO THE STATES, and Linda will lead that initiative.”

McMahon, who co-chairs Trump’s transition team as he prepares to return to the White House in January, is responsible for filling around 4,000 government positions.

Trump highlighted McMahon’s two-year tenure on the Connecticut Board of Education and her 16 years on the board of trustees at Sacred Heart University, a private Catholic institution, as relevant experience for the role.

McMahon, who left WWE in 2009 to unsuccessfully run for a US Senate seat, has been a significant donor to Trump. Since 2021, she has chaired the Center For The American Worker at the America First Policy Institute, a Trump-aligned organization. Read More -https://voiceofentrepreneur.life/trump-appoints-former-wwe-ceo-as-head-of-the-department-of-education/

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Meet India’s First Female Entrepreneur Behind a ₹917 Crore Empire

Kalpana Saroj’s journey is a true testament to resilience and determination, evolving from a young girl facing immense hardships to becoming one of India’s most impactful business leaders. Rising from humble beginnings, she turned around a failing enterprise, showcasing the power of grit and vision. Reports highlight her as India’s first female entrepreneur.

Hailed as a pioneer among Indian women entrepreneurs, Saroj shattered societal norms and economic barriers to achieve unparalleled success. From enduring poverty and prejudice to reviving the struggling Kamani Tubes company, her inspiring journey continues to motivate countless aspiring leaders.

Born in 1961 in Roperkheda, Akola, Maharashtra, into a Marathi Buddhist family, Saroj was the eldest of five siblings. Her early life was marked by hardship, including a child marriage at 12 that led to abuse. Rescued by her father, she faced ostracism upon her return to the village, leading to a suicide attempt. Determined to change her fate, she moved to Mumbai at 16, taking up factory work to support her family and secure a brighter future. Read More-https://voiceofentrepreneur.life/meet-the-first-indian-female-entrepreneur-behind-a-rs-917-crore-business-its-not-nita-or-isha-ambani/

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Vodafone Idea CEO: Subscriber Losses to BSNL Reversing

Vodafone Idea (VIL) CEO Akshaya Moondra discussed the impact of recent tariff increases on subscriber numbers, specifically noting the influence of state-run BSNL in attracting customers. Despite an initial dip in users, Moondra highlighted a stabilization in the trend, with gradual improvements in subscriber figures.

During VIL’s Q2 earnings call for the quarter ending September 30, 2024, Moondra acknowledged a temporary loss of subscribers following the tariff hike in July. Many migrated to BSNL, which mainly offers 3G services and limited 4G in select regions, owing to its affordability.

However, the situation appears to be improving. We experienced an impact from BSNL earlier in the quarter, but we’ve seen a noticeable turnaround from August through November,” Moondra stated. He expressed optimism that Vodafone Idea is nearing its pre-tariff-hike subscriber levels, although a full recovery may take longer.

For More Update Please visit This Site-https://voiceofentrepreneur.life/vodafone-idea-ceo-akshaya-moondra-notes-subscriber-losses-to-bsnl-after-tariff-hike-are-now-reversing/

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Zomato CEO Deepinder Goyal Offers Job After Bengaluru Resident’s Feedback

Zomato has rolled out an innovative new feature called “Food Rescue,” designed to allow users to purchase canceled food orders at discounted prices. The goal of the initiative is to minimize food waste by offering perfectly good, unclaimed meals to nearby customers at lower rates. To ensure the quality and safety of the meals, they are carefully packed and remain untampered with.

In terms of payments, Zomato revealed that it will retain only the applicable taxes from these transactions, while the restaurant partners will receive both the original payment and an additional amount from the reselling of these orders.

Zomato CEO Deepinder Goyal shared the news on X (formerly Twitter), revealing that Zomato handles over 400,000 canceled orders, despite its no-refund policy. These meals will now be included in the Food Rescue program, giving local customers the chance to purchase them at discounted prices, with guaranteed prompt delivery in their original, secure packaging.

Goyal explained, “We don’t encourage cancellations at Zomato as it leads to a large amount of food waste. Even though we have strict policies, over 400,000 orders are still canceled for various reasons by customers. Our top priority, along with the restaurant industry and the customers who cancel, is to figure out how we can save this food from being wasted.”

He continued, “Today, we’re launching Food Rescue! Canceled orders will now pop up for nearby customers who can grab them at unbeatable prices, in their original packaging, and have them delivered within minutes.” Read More-https://voiceofentrepreneur.life/zomato-ceo-deepinder-goyal-responds-to-feedback-from-bengaluru-resident-offers-job-opportunity/

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Zoho CEO's Strategy for India’s Next Tech Titans

Zoho CEO Sridhar Vembu recently made a powerful call to action for India’s tech industry, urging a shift in focus from short-term valuations to sustainable growth. In a series of tweets, Vembu laid out his vision for Indian companies aiming to achieve “$100 billion in revenue,” not just valuation, to drive the nation’s economic progress. He emphasized that the key to lifting millions out of poverty and making a meaningful economic impact lies in generating consistent revenue, rather than obsessing over valuations.

Vembu cautioned against the dangers of over-prioritizing immediate stock valuations or relying on loose funding, both of which can distract businesses from building long-term value. He explained that valuation should naturally follow from doing things right, learning from mistakes, and maintaining financial discipline. When valuation becomes the primary focus, it loses its true significance, a concept illustrated by Goodhart’s Law, which highlights that when a measure becomes a target, it ceases to be a good measure.

“Can we develop IT firms from India that generate $100 billion in revenue, not valuation? If we are to improve the lot of our people, India needs a lot of them. China has produced many world champions in the past 20 years. The constant emphasis on valuation will not lead us there. “Visionary dreamers and long-term builders who strike a balance between their long-term goals and short-term financial restraint are what will get us there,” Vembu said. Read More-https://voiceofentrepreneur.life/zoho-ceos-strategy-for-building-100-billion-indian-tech-companies-a-long-term-vision/

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ixigo insights on religious travel demand in India

While some industries report muted urban demand, travel and tourism are still thriving, buoyed by post-pandemic growth. Amid the festive season, ixigo has reached record numbers in flight and bus bookings, according to Aloke Bajpai, the company’s chairman and group CEO.

“Both flights and bus bookings saw over 50% year-on-year growth for Diwali. On certain routes, we’ve noticed a 70-80% increase, especially for international destinations like Thailand, Georgia, Bali, Vietnam, and Singapore,” Bajpai shared with DH.

The platform’s fastest-growing segments from July to September have also been these areas.

Bus bookings surged by over 60% on popular routes, with new travel hotspots such as Pune, Indore, Coimbatore, Jaipur, Guntur, Rajahmundry, and Bhubaneswar attracting more travelers.

In the weeks leading up to Dussehra and Diwali, religious destinations like Tirupati and Shirdi saw a notable rise in visitors. Read More-https://voiceofentrepreneur.life/religious-tourism-fuels-demand-in-tier-ii-and-iii-markets-ixigo-ceo/

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Judge Clears Mark Zuckerberg in Lawsuit Over Social Media's Impact on Kids

A federal judge has ruled that Meta Platforms CEO Mark Zuckerberg cannot be held personally liable in ongoing lawsuits against the company, which allege it has endangered children by fostering social media addiction. On Thursday, Judge Yvonne Gonzalez Rogers dismissed claims that Zuckerberg played a key role in concealing the mental health risks associated with Facebook and Instagram for young users. The plaintiffs, representing children across various states, argued that Zuckerberg ignored internal warnings and downplayed social media’s potential dangers.

Judge Rogers concluded that the plaintiffs did not provide concrete evidence linking Zuckerberg directly to the alleged misconduct. She emphasized that controlling a company’s actions does not automatically equate to personal liability. However, this ruling does not affect the broader lawsuits still proceeding against Meta. Read More-https://voiceofentrepreneur.life/judge-exonerates-meta-ceo-mark-zuckerberg-in-lawsuit-regarding-social-medias-impact-on-children/

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Ritwik Bhattacharjee Appointed Interim CEO of Embassy Office Parks REIT

Embassy Office Parks REIT has appointed Ritwik Bhattacharjee as its interim Chief Executive Officer (CEO) with immediate effect, following an order from Sebi to suspend the current CEO, Arvind Maiya.

On Monday, Sebi issued an order for Maiya’s suspension as the CEO of Embassy REIT’s managing firm, Embassy Office Parks Management Services, and mandated the appointment of an interim CEO.

Ritwik has worked at Embassy REIT since its founding and was a key member of the group that led to the company’s 2019 listing. Chief Investment Officer was the most recent role he held.

Most recently, he was the company’s chief investment officer. Ritwik had a prosperous 12-year career in investment banking before to joining Embassy REIT, working for multinational companies like Nomura, Citi, UBS, and JP Morgan. Read More-https://voiceofentrepreneur.life/embassy-office-parks-reit-has-named-ritwik-bhattacharjee-as-its-interim-ceo/

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Schneider Electric Appoints New CEO to Drive Strategy

Schneider Electric SE has announced a change in leadership, with Olivier Blum stepping in as the new chief executive officer, replacing Peter Herweck, who held the role for the past 18 months. The Board of Directors stated that this decision was driven by “differences in the execution of the company’s roadmap during a period of significant opportunities.

The French multinational, valued at approximately €140 billion, specializes in electrical equipment and energy efficiency technologies. Olivier Blum, previously head of the energy management division and a member of the Executive Committee since 2014, brings over 30 years of experience within Schneider Electric, including roles as Chief Human Resources Officer and Country President of Greater India.

Board Chairman Jean-Pascal Tricoire voiced his trust in Blum’s leadership, saying, “I am fully confident in his capability to guide Schneider Electric into this next phase of strategic growth.”

Record Sales in the Third Quarter

In Schneider’s latest earnings report, the company revealed record revenues of €9.3 billion for the third quarter, an 8% increase from the previous year. Growth was driven by the Systems and Digital Services segments, particularly within energy management, capitalizing on trends such as digitalization, AI, and the energy transition.

The company also recently acquired U.S.-based Motivair Corporation, which specializes in advanced liquid cooling for data centers. Schneider expects significant growth in this technology as demand for data centers and AI cooling solutions rises. Read More-https://voiceofentrepreneur.life/schneider-electric-names-new-ceo-to-lead-strategic-direction/

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Atul Jain Appointed MD & CEO of Aptech Ltd

Aptech Ltd, a leading name in vocational training, has announced the appointment of Atul Jain as its new Managing Director and Chief Executive Officer. This decision underscores Aptech’s dedication to growth and its ability to adapt to changes within the industry.

With over three decades of experience in sales, marketing, operations, and business strategy, Atul Jain has occupied important positions at Orient Electric Ltd and Samsung Electronics in both India and Korea, where he successfully directed various projects and initiatives. He holds a mechanical engineering degree from IIT Delhi and an MBA from IIM Calcutta. Jain has also been actively involved in industry associations such as the Indian Fan Manufacturers Association (IFMA).

Expressing his enthusiasm, Jain stated, “I am honored to take the helm at Aptech Ltd during this pivotal time. This role presents a wonderful opportunity and responsibility. I am eager to collaborate with the team and elevate Aptech to new heights, continuously innovating and adding value for everyone associated with the company.”

Jain’s appointment coincides with Aptech’s ambition to establish new objectives and enhance its training programs while remaining aligned with its core mission and values.

About Aptech Limited

Established in 1986, Aptech Ltd has been at the forefront of vocational training and currently operates over 840 centers across the globe. The company provides courses in various fields, including IT, media, beauty, aviation, and more, catering to both individuals and businesses. Aptech’s commitment to excellence has earned it accolades such as the Great Place to Work certification and the Golden Peacock National Training Award.

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Zomato CEO Clarifies 'Future Dated' Mushrooms Incident in Hyderabad

Days after reports surfaced that a food safety raid at Zomato’s Hyperpure warehouse in Hyderabad allegedly uncovered 90 packets of button mushrooms marked with a “future packing date,” co-founder and CEO Deepinder Goyal clarified that this was due to a vendor error.

In a post on X, Goyal confirmed that the Food Safety and Standards Authority of India (FSSAI) team found 90 packets of button mushrooms with incorrect packaging dates. However, he stressed that these items had already been identified and rejected by Zomato’s warehouse team during their quality control inspections.

Goyal explained that the incorrect packing date was the result of a manual typing mistake by the vendor, who has since been removed from Zomato’s database.

He reiterated Zomato’s dedication to food safety, stating, “We are committed to maintaining industry food safety standards and prioritize product quality at every stage of the supply chain. The recent food safety inspection at our Hyderabad warehouse led to the Hyperpure warehouse receiving an A+ rating, the highest benchmark in their evaluation.”

Earlier in October, the Commissioner of Food Safety in Telangana posted on X that its task force conducted inspections at Zomato’s Hyperpure Private Limited in Kukatpally, Hyderabad, on October 29.

Authorities found 18 kilograms of button mushrooms marked with a packing date of October 30, 2024, which constitutes a breach of food safety regulations. Additionally, the post noted the presence of houseflies throughout the premises due to a lack of insect-proof screens, and some food handlers were observed without proper hygiene equipment, such as hair nets and aprons. Read More-https://voiceofentrepreneur.life/zomato-ceo-issues-clarification-following-discovery-of-future-dated-mushrooms-at-hyderabad-warehouse/