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- Rapido, a ride-hailing unicorn, is exploring the quick commerce sector in India, competing with Blinkit, Swiggy Instamart, and Flipkart's Minutes.
- The Bengaluru-based company is in preliminary talks with Zepto and grocers like Pincode and KPN to strengthen its position in the market.
- Nexus Venture Partners, a common investor in Rapido and Zepto, is facilitating these discussions.
- Rapido recently became a unicorn, raising $200 million in its Series E funding round, led by WestBridge Capital.
- The company currently operates in over 100 cities, handling 2.5 million orders per day across bike taxis, autos, and cabs.
Source: [Inc42]()
- Indian police detained 104 Samsung workers protesting low wages at a plant in Tamil Nadu.
- The workers were planning a march without permission, leading to their detention.
- The strike has disrupted production, affecting a third of Samsung's annual India revenue.
- Police cited public peace concerns and detained workers in wedding halls.
- Samsung has started discussions with workers to resolve the issues.
Source: [Business Standard]()
- The FBI is probing a potential assassination attempt on Donald Trump in Florida, just two months after a similar incident in Pennsylvania.
- Trump was at his golf club near Mar-a-Lago when a man with an AK-47 was detained by law enforcement.
- The suspect was spotted by a Secret Service agent and later apprehended after fleeing the scene.
- Trump assured the public he is safe and thanked God in a statement.
- This incident comes as Trump faces a challenging election against Kamala Harris, who is currently leading in the polls.
Source: [Financial Times]()
- Arvind Kejriwal's resignation has left a void in Delhi's leadership, with Atishi emerging as a top contender due to her extensive responsibilities in the government.
- Former deputy CM Manish Sisodia is out of the race, despite being a natural choice, as he awaits public endorsement of his honesty.
- Atishi's rapid rise in the party is highlighted by her significant contributions and her role in key party functions, including the manifesto drafting committee.
- Speculation also surrounds Kejriwal's wife, Sunita Kejriwal, though her candidacy is being downplayed to avoid accusations of nepotism.
- Other potential candidates include Gopal Rai, a long-time party member, and health minister Saurabh Bharadwaj, with some suggesting a scheduled caste candidate like Rakhi Birla.
Source: [Times of India]()
- The National Payments Corporation of India (NPCI) reported a 37% increase in net profit, reaching Rs 1,134 crore in FY24.
- This makes NPCI one of the first payments-based entities in India to surpass Rs 1,000 crore in net profit.
- NPCI's total revenues increased by 42% to Rs 3,279 crore, primarily from transaction fees on platforms like UPI, RuPay, and IMPS.
- Major expenses included marketing and promotions, which surged by 765% to Rs 782 crore, and employee costs, which rose by 34% to Rs 324 crore.
- NPCI continues to reinvest its profits to develop new products, maintaining its not-for-profit mandate.
Source: [The Arc]()
- The Flappy Bird Foundation announced plans to re-hatch the official Flappy Bird game.
- Creator Dong Nguyen stated he has no involvement and did not sell anything.
- Nguyen also mentioned he does not support crypto.
- The foundation claims to have acquired rights from Gametech Holdings, LLC.
- Hidden pages on the foundation's website hint at potential Web 3.0 features.
Source: [Techcrunch]()
- LinkedIn has introduced three new games: Queens, Crossclimb, and Pinpoint, mimicking New York Times' popular puzzles.
- These games provide a quick dopamine rush, making them a guilty pleasure for many, including during work hours.
- Experts suggest that brief gaming sessions can offer mental health benefits by activating the brain's stress-navigation system.
- LinkedIn has seen a 20% weekly increase in new player engagement since July, with users often starting conversations post-game.
- Despite the professional setting, LinkedIn's games are becoming a popular distraction, blending work and play.
Source: [Techcrunch]()
I think losing the debate against Kamala hasn't been digested well.
- is in talks to raise $150-200 million from existing and new investors ahead of its IPO.
- The company plans to file its draft red herring prospectus in December.
- Existing backers like Tiger Global, Foundamental, and Evolvence will increase their stakes.
- The valuation for this round is expected to be higher than $2.5 billion.
- 's revenue grew 90 percent in FY23, though profit saw a 17 percent drop.
Source: [Moneycontrol]()
- Nandan Nilekani, co-founder of Infosys, stresses the importance of AI investment to avoid business obsolescence.
- He highlights the role of language AI in bridging communication gaps in linguistically diverse India.
- Nilekani mentions the commoditization of large language models and their potential to lower AI costs.
- He introduces the Unified Energy Interface for buying and selling electricity, based on the Beckn Protocol.
- Nilekani's focus is on using AI for societal benefits rather than just commercial gains.
Source: [Moneycontrol]()
