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News on Medial
A moonshot idea: Shiv Nadar’s daring dream of selling minicomputers in the US
Livemint
·
1y ago
Medial
Shiv Nadar, the co-founder of HCL, attempted to sell high-end minicomputers in the US in 1988. This was a bold move considering HCL was a startup with a small budget and India was not yet recognized as an IT services hub. Despite facing challenges, such as competition from established players like IBM, HCL focused on the minicomputers market. Although their venture in the US didn't succeed, it laid the foundation for HCL's pivot towards software services, which has been immensely successful. HCL Technologies now has a market capitalization of nearly $47 billion.
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TIGA Gets CCI Nod To Acquire Stake In Dream11, Tencent To Offload Entire Stake
Inc42
·
10m ago
Medial
Tiga Investments has received approval from the Competition Commission of India (CCI) to acquire a stake in Dream Sports Inc, the parent company of real money gaming major, Dream11. This transaction involves Tiga Acquisition Corp III purchasing preferred stock and certain rights from an existing shareholder of Dream Sports. Additionally, it has been reported that Tencent Holdings, a backer of Dream11, is considering selling its entire stake in Dream Sports.
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Alibaba leads record $1 billion investment in Chinese AI firm Moonshot
Economic Times
·
1y ago
Medial
Alibaba Group has led a $1 billion funding round for Chinese artificial intelligence (AI) startup Moonshot AI, boosting the firm's valuation to around $2.5 billion. Moonshot AI, founded in March 2023, aims to develop generative AI technology to compete with OpenAI and Google. This investment is part of Alibaba's strategy to invest in game-changing technologies like AI while reviving its business amid regulatory scrutiny and an economic downturn. Despite concerns about US sanctions on Chinese AI firms, venture capital investment in the sector remains strong.
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HCL’s Nadar inks deal to acquire education firm, values target at over 10x revenue
VCCircle
·
10m ago
Medial
- Shiv Nadar, founder of HCL Technologies, has signed a deal to acquire an education services company. - The acquisition will expand the Shiv Nadar chain of schools, run by the Shiv Nadar Foundation. - The target company's value is estimated to be over 10 times its revenue. - The Shiv Nadar School currently has campuses in Noida and Gurgaon. - The acquisition aligns with Shiv Nadar's philanthropic initiatives in the education sector.
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Youtube Announces New Generative AI Products To Usher An Era Where Anyone Can Be A Creator
OutlookIndia
·
1y ago
Medial
YouTube has announced a suite of artificial intelligence (AI) tools, including Dream Screen and YouTube Create, to help creators generate new ideas and edit content more easily. Dream Screen allows creators to add AI-generated video or image backgrounds to their Shorts by typing an idea into a prompt. YouTube Create is a mobile app that offers editing tools, effects, filters, and royalty-free music to produce videos on the platform. YouTube is also testing AI-powered dubbing, assistive search for soundtrack selection, and generative AI for video ideas. The aim is to make content creation more accessible for creators.
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Dream Sports does an express flipback; among first to reverse merge sans NCLT nod
Economic Times
·
4m ago
Medial
Dream Sports, the parent company of Dream11, has moved its domicile from the US to India through a reverse merger with its Mumbai-based subsidiary, Sporta Technologies. This is among the first uses of a fast-track mechanism for cross-border mergers, bypassing NCLT approval. Dream Sports cited cost savings and consolidation benefits. The company faces significant GST demands but has not passed these on to users. It continues to focus on expanding its sports and allied sectors.
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Dream11 to discontinue its investment arm Dream Capital
Entrackr
·
1y ago
Medial
Dream Sports, the parent company of Dream11, has made the decision to shut down its venture capital and merger & acquisition arm, Dream Capital. This move comes in response to the government's implementation of a 28% GST on online real money games. Dream Capital, which was launched in August 2021 with a $250 million fund, focused on investing in startups in the sports, online gaming, and fitness-tech sectors. The discontinuation of Dream Capital was reportedly decided a few months ago, and Dev Bajaj, its head, will also be leaving the firm.
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Dream11 parent launches its first mobile game Dream Cricket 2024 in India
Money Control
·
1y ago
Medial
Dream Game Studios, owned by Dream11 parent company Dream Sports, has launched its first mobile game, Dream Cricket 2024, in India and Pakistan. The cricket game features realistic gameplay, voice commentary, and 3D graphics. It includes various game modes, including multiplayer matches, Dream Team, and a new World Cup mode where users can play as one of the 10 international teams and participate in tournaments. Dream Cricket 2024 also features the faces of current and former Indian cricket players and renowned international players. India's gaming market is growing rapidly, with revenue projected to reach $868 million by 2023.
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Wanted to retire at 40, Citrus sale busted my myths: Pine Labs CEO
YouTube
·
1y ago
Medial
Pine Labs CEO Amrish Rau said he wished to retire at the age of 40 as both his parents worked for government and he had a hustle in him. "When I sold [Citrus]...my thinking process was, 'I don't need to work...ever in life,'" he said. Citrus' sale busted a few myths of mine, he added on an episode of 'Moonshot'.
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This startup from Guwahati is bringing mead to Indian consumers with a distinctly local flavour
YourStory
·
1m ago
Medial
Dream Hives, a Guwahati-based startup founded by Kaustoov Gopal Goswami and Dhrubajyoti Deka in 2021, aims to introduce mead, an ancient honey-based alcoholic beverage, to Indian consumers with local flavors. Originating from a community beekeeping initiative, the company faced honey surplus during the COVID-19 lockdown, inspiring the transition from selling honey to creating mead. Their flagship product AS01 features distinct Assamese ingredients like Assam tea and King Chilli, positioning them as Northeast India’s first meadery.
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Dream Sports joins David Beckham, Gary Neville-led ownership group of Salford City FC
Economic Times
·
3m ago
Medial
Dream Sports has joined the ownership group of Salford City FC, along with football icons like David Beckham. This marks the company's entry into football club ownership, aligning with its global ambitions. Financial terms are undisclosed, but there's a commitment to invest in the club. Dream Sports, part of the members' club, is backed by investors like Tiger Global. The move is part of Dream Sports' diversification strategy as it navigates challenges in India's tax regime.
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