Founders are acutely aware of the slowdown in deal-making, and ‘expanding the runway’ is the mantra they are following to tide over the next quarters. So, startups are on the drawing board to implement those measures. Going back which will help them survive for the next 24 months.
Among companies to end layoffs in 2023, Google-backed Mohalla Tech Pvt Ltd, which runs social media site #ShareChat and short video platform Moj, topped the list with nearly 600 layoffs. It states that external macro factors affect the cost and availability of capital.
The Bengaluru-based company cut its workforce by around 20% in the latest round. Mohalla Tech also laid off its fantasy sports vertical Jeet11, which laid off around 115 employees in December.
Another Google-backed startup that laid off its employees in early 2023 is Dunzo. The instant commerce firm laid off 3% or about 90 employees as part of its restructuring. Product and supply chain employees were the most affected. “Some senior developers and at least two directors of engineering have been dismissed,” said a person with knowledge of Dunzo’s development.
The challenge of this “winner-takes-all” model in the corporate world is that the competition has to be decimated with whatever means necessary, the ultimate objective for the winner is a monopoly (the only buyer) and a monopsony (the only seller). There is no room for a second or third player in this model.
The “winner-takes-all” model requires an enormous amount of funding – business fundamentals such as profits or even revenue are not important. The model’s assumption is that equity can fund losses; revenues are not important until such time that there is only one player standing.
Food delivery major Swiggy reportedly plans to fire around 8-10% of its workforce, or 480-600 employees, to reduce costs amid the ongoing funding winter. The layoff at Swiggy will impact its product, engineering and operations teams, Fina.
Founders are acutely aware of the slowdown in deal-making, and ‘expanding the runway’ is the mantra they are following to tide over the next quarters. So, startups are on the drawing board to implement those measures. Going back which will help them survive for the next 24 months.
Among companies to end layoffs in 2023, Google-backed Mohalla Tech Pvt Ltd, which runs social media site #ShareChat and short video platform Moj, topped the list with nearly 600 layoffs. It states that external macro factors affect the cost and availability of capital.
The Bengaluru-based company cut its workforce by around 20% in the latest round. Mohalla Tech also laid off its fantasy sports vertical Jeet11, which laid off around 115 employees in December.
Another Google-backed startup that laid off its employees in early 2023 is Dunzo. The instant commerce firm laid off 3% or about 90 employees as part of its restructuring. Product and supply chain employees were the most affected. “Some senior developers and at least two directors of engineering have been dismissed,” said a person with knowledge of Dunzo’s development.
The challenge of this “winner-takes-all” model in the corporate world is that the competition has to be decimated with whatever means necessary, the ultimate objective for the winner is a monopoly (the only buyer) and a monopsony (the only seller). There is no room for a second or third player in this model.
The “winner-takes-all” model requires an enormous amount of funding – business fundamentals such as profits or even revenue are not important. The model’s assumption is that equity can fund losses; revenues are not important until such time that there is only one player standing.
Food delivery major Swiggy reportedly plans to fire around 8-10% of its workforce, or 480-600 employees, to reduce costs amid the ongoing funding winter. The layoff at Swiggy will impact its product, engineering and operations teams, Fina
Technology video | 192 views
The term 'Funding Winter' refers to a period in which funding for start-ups becomes more difficult to obtain due to a variety of factors, including economic conditions, market trends, and investor sentiment.
Funding Winter has brought a significant impact on the growth and development of start-ups, particularly those in emerging markets like India. We are witnessing – employee layoffs, investors delaying capital infusion decisions, lower spends by start-ups in marketing, some start-ups getting valued lower than their previous funding rounds, etc. – resulting in drying up of capital flows or “Funding Winter”.
This has been a global phenomenon throughout 2022 and is expected to have an extended run in 2023 as well. Prior to funding winter, globally many startups were able to raise funds at increasingly higher valuations with relative ease. India being the third largest startup ecosystem in the world, these trends are reflected in the capital flows to Indian startups as well. A recent PwC report mentions a drop of 33% funding of Indian startups during 2022 in comparison to 2021.
Today's Headline in NewsHours
0:00 Intro
3:25 #TimCook to launch Apple's first store in India today
3:46 #Malware 'Goldoson' infects 60 mobile apps on Google Play
4:20 #Google withdraws SC appeal against NCLAT order
4:47 Jio and Bharti Airtel to provide new connections to 1.1 million employees of Indian Railways
5:25 Coca-Cola to buy minority stake in Swiggy, Zomato rival
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Technology video | 221 views
12,000 Meta employees are likely to lose their jobs amid ‘quiet layoffs’ #shorts
Technology video | 191 views
Delhi CM asks govt to intervene as IT employees finding difficulty in getting jobs amid layoffs
Technology video | 147 views
#crypto #blockchain #startup
Crypto Vs Blockchain Startup
There are many Indian companies working actively in the crypto space. India's crypto industry attracts foreign funds, but local investors remain wary. Cryptocurrency has seen tremendous growth in the last one year and from a consumer and technology standpoint, India is an important destination for cryptos. The venture capital companies including Sequoia Capital India, Lightspeed India, Elevation Capital and others are warming up to India’s cryptocurrency and blockchain industry. Several international funds such as Pantera Capital and Coinbase Ventures, and entrepreneur investors like Mark Cuban, have been investing in blockchain and crypto startups founded by Indians.
The absence of regulatory approval and the possibility of a blanket ban has, however, kept most Indian funds at bay, despite the heightened interest in crypto and blockchain. Despite the regulatory uncertainty and the volatility of cryptocurrencies, Indian start-ups in the space saw funding grow 73% in the first six months of calendar 2021 compared to the whole of 2020.Total funding year-to-date in 2021 stood at $50.03 million against the $28.85 million raised by cryptocurrency-based start-ups in 2020, according to data from Tracxn. A report says, the lockdown in 2020 had led to increased activity in the cryptocurrency market as retail and institutional investors turned to this investment avenue as volatility hit the stock market. Blockchain faces hurdles, including volatility in cryptocurrency pricing and confusion and misunderstanding from many consumers about the technology and related financial services, experts say.
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Technology video | 241 views
इजरायल और हमास के बीच जंग शुरू हुए एक महीने से ज्यादा का समय बीत चूका है। एक तरफ इजरायल के सैनिक गाजा पट्टी में जमीनी लड़ाई लड़ रहे हैं तो दूसरी ओर हमास के लड़ाके भी जमकर गोलीबारी कर रहे हैं।
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Khabar Fast is the Hindi news channel of India. Khabar Fast Channel deals with news related to Haryana, Himachal Pradesh, Punjab, Rajasthan, Uttar Pradesh and every state. The Khabar Fast News channel covers the latest news in politics, entertainment, Bollywood, business and sports. Khabar Fast Channel Live news and latest breaking news, stay tuned for the program - TV channels, social media (YOUTUBE, FACEBOOK, INSTAGRAM, TWITTER AND WEBSITE)
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News video | 345 views
This HUGE WINTER WEAR HAUL is an Myntra Shopping Haul video where I show winter wear clothes and talk about Myntra Winter wear haul. Nidhi Katiyar brings the best Winter wear haul showing winter clothes and talking about Myntra winter haul in this Myntra shopping haul with focus on winter wear clothes.
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This huge winter wear haul where I show Myntra Shopping Haul and talk about Winter Wear Clothes is the best Myntra Winter Wear Haul. I will show you sweatshirts and sweaters that you can wear in winters and this winter clothes haul where I talk about my Myntra online shopping experience for winter wear clothes will help you to decide what to wear and winter clothes for this year. Myntra has some really good quality winter collection and their winter collection will help you look great during the winter season. This Myntra Shopping haul has winter wear clothes and the focus will be on Myntra winter wear haul.
Beauty Tips video | 217180 views
सर्दी का असर, लोगों पर टूटेगा कहर | ठंड इस बार तोड़ेगी रिकॉर्ड | Delhi Pollution #DBLIVE #DelhiPollution #Weather #IMD
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News video | 406 views
As the global financial situation weighs on wallets and portfolios, big names like Meta, Twitter and Amazon have all initiated #layoffs in 2022. November tech layoffs alone have surpassed 45,000 heads, with the largest firms trimming the fat by 10,000+ heads each.
Some companies that go private disappear from public view. But Not Twitter. It’s hard to think of another corporate takeover whose aftermath has drawn much of the media attention, with many details leaking out. And that has surely complicated Elon Musk’s life, for instance, scaring away advertisers and possibly making it harder to recruit employees. Even so, Musk’s view that it would be easier to restructure Twitter as a private firm—expressed in an April text to Twitter’s then chair, Bret Taylor—was still probably right.
After all, while we’ve heard a lot about the untrammelled nature of Musk’s management style, we know little about what’s most important—the state of Twitter’s business, such as its current level of revenue, expenses and debt levels. Yes… Musk borrowed $13 billion in debt that carried very high interest rates.
It’s possible, though, that he will use his latest sale of Tesla stock this week, raising somewhere around $3.5 billion, to pay some of that off. That’s one interpretation of his tweet: “At risk of stating obvious, beware of debt in turbulent macroeconomic conditions, especially when Fed keeps raising rates.” The bottom line is that without knowing the key financial details, we can’t really assess the state of play.
As reported by the Information, based on the snippets that have been reported—such as ad revenue falling in some regions by as much as half—you can guess that lower revenue has largely offset the cost savings from employee cuts. It’s also likely that at current valuation levels Twitter’s equity has been all but wiped out.
Assume that its revenue is running at an annualized level of $4 billion now, down 20% from 2021. Then appl
Technology video | 207 views
Every day, it seems, there is a new announcement of a company forced to do layoffs - most notably in the tech and media sectors. With layoffs comes the threat of a disgruntled employee taking important company information with them when they go. How can companies minimize the risk of data exfiltration by current or ex-employees?
Massive layoffs are a huge opportunity for bad actors and someone who has just been laid off may be a prime target for an incentivized offer for information. Experts say, 'Organizations have spent most of their resources on protecting themselves from external cyber threats. But what happens when the adversary has a set of keys and can stroll right in?
Today's Headline in NewsHours
0:00 Intro.
00:47 Layoffs can increase security risks.
01:30 Layoffs can lead to decreased morale creating opportunities for bad actors.
02:15 Protecting data during layoffs is crucial.
03:04 Samsung will not replace Google with Bing on its smartphones.
03:45 Tesla seriously considering setting up production base in India.
04:30 Blue Origin wins $3.4B NASA contract to build spacecraft for Moon missions.
05:20 Twitter testing new product with influencers and celebrities.
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#varindia #newshour #Layoffs #OpportunisticBehavior #BadActors #JobLoss #Unemployment #WorkplaceChallenges #EconomicImpact #BusinessEthics #CorporateResponsibility #WorkforceReduction #CareerTransition #EmploymentIssues #JobMarket #LaborForce #HumanResources #OrganizationalChange #Economy #Job
Technology video | 244 views
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PEG क्या है, इसे PEG क्यों कहा जाता है? | What Is Peg
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What is Wheat Beer? | व्हीट बीयर क्या है?
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भारत में पहला BAR कौन सा है? Which is the First BAR in India? Do you know?
#firstbar #Indiasfirstbar #bar #cocktailsindia
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एक Wine की बोतल की सेल्फ लाइफ क्या होती है? What is the shelf-life of a bottle of wine?
#wine #Wineshelflife #cocktailsindia #dadabartender
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