Byju’s rights issue gets $300 million commitment

Byju's floated a rights issue in January to raise $200 million through equity rights issue at an enterprise valuation in the range of $220-250 million which is a 99 per cent reduction in its peak valuation of $22 billion.

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US divided on TikTok ban even as Biden campaign joins the app, AP-NORC poll shows

President Joe Biden's campaign uses TikTok to court young voters, despite mixed views. Concerns about data sharing, propaganda, children's time on TikTok, and misinformation persist. Fact-checking initiatives are implemented. Former Republican candidate Vivek Ramaswamy joins TikTok. Fact-checking hubs are established for the European Union elections.

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Experts urge govt to invest in open data, compute for AI leadership

Open data and compute can put India on the world map in the race for artificial intelligence, experts tell ET.

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OpenAI deal lets employees sell shares at $86 billion valuation

The tender offer values the artificial intelligence startup at $86 billion, a price that makes OpenAI one of the most valuable startups in the world. Bloomberg previously reported the value and that Thrive Capital, the venture capital firm led by Josh Kushner, would lead the deal.

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Paytm's parent One 97 Communications Ltd shifts nodal Account to Axis Bank

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OpenAI's Sam Altman seeks US government nod for AI chips venture: report

Altman, who is reportedly working on a new business that could boost global chip manufacturing, has told potential investors and partners that he cannot move forward without a green light from Washington, the report said, citing people familiar with the matter.

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All you need to know about the EU's landmark digital content law

The EU's milestone legislation known as the Digital Services Act demands that digital companies crack down on illegal and problematic content. These large platforms must assess the risks linked to their services with regards to the spread of illegal content and privacy infringements.

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Karnataka plans to levy cess on online transactions to fund welfare of gig workers

The State Government plans to levy a cess on online transactions to fund the welfare of gig workers. The government will introduce the Platform-Based Gig Workers Fund and Welfare Fee Bill to provide livelihood security and insurance. Bengaluru has an estimated 200,000 plus gig workers.

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Mumbai emerging as preferred startup destination, say founders, investors

The financial capital's fast pace of infrastructure development and increasing access to capital and talent is attracting startup founders and investors.

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US Senate hearing: Meta CEO Mark Zuckerberg apologises for social media impact on children

Under prodding from Republican senator Josh Hawley, Zuckerberg stood up and addressed families who held up pictures of their children who they said had been harmed by social media.

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Udaan FMCG biz head Vinay Shrivastava quits; fourth senior exit since Sept’23

Udaan's FMCG business head, Vinay Shrivastava, has resigned amid a series of senior exits at the B2B e-commerce firm. Shrivastava, with nearly four years at Udaan, contributed to significant growth in market share and business. Udaan is restructuring its teams and business verticals, merging essentials with discretionary business. Shrivastava's departure follows the exits of the group CFO and other senior executives since September 2023. The company recently raised $340 million in Series E, but its valuation reportedly fell to around $1.8 billion in a down round.

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