👀Swiggy IPO to Test India's Appetite for Billion-Dollar Tech Listings
Swiggy’s IPO will gauge India's interest in billion-dollar tech listings as it aims to expand its quick-commerce model, already popular in major cities. With backing from major investors like Prosus and SoftBank, the IPO also highlights India’s rapid digital shift, though profitability in smaller cities remains a question for the long term.
👀Swiggy IPO to Test India's Appetite for Billion-Dollar Tech Listings
Swiggy’s IPO will gauge India's interest in billion-dollar tech listings as it aims to expand its quick-commerce model, already popular in major cities. With backing from major investors like Prosus and SoftBank, the IPO also highlights India’s rapid digital shift, though profitability in smaller cities remains a question for the long term.
Continuing its crackdown against entities allegedly involved in a front-running scam using messaging app Telegram, Sebi on Thursday carried out search and seizure operations at the premises of eight entities in multiple locations across the country. For example, WhatsApp restricted the number of times a user could forward something, and developed automated systems that detect and flag objectionable content. Pavel Durov, a billionaire who embraces an all-black wardrobe and is often compared to the character Neo from "the Matrix," funds Telegram through his personal wealth and debt financing. And despite being one of the world's most popular tech companies, Telegram reportedly has only about 30 employees who defer to Durov for most major decisions about the platform. Ukrainian forces have since put up a strong resistance to the Russian troops amid the war that has left hundreds of Ukrainian civilians, including children, dead, according to the United Nations. Ukrainian and international officials have accused Russia of targeting civilian populations with shelling and bombardments. Crude oil prices edged higher after tumbling on Thursday, when U.S. West Texas intermediate slid back below $110 per barrel after topping as much as $130 a barrel in recent sessions. Still, gas prices at the pump rose to fresh highs.
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