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Bain bets on Indian domestic work startup Pronto even as rivals face criticism

TechCrunch · 2m ago

Bain bets on Indian domestic work startup Pronto even as rivals face criticism

Bain Capital Ventures leads a $2 million seed round in Pronto, a startup offering rapid cleaning, laundry, and home services in India within 10 minutes. Founder Anjali Sardana emphasizes a worker-friendly model, diverging from traditional gig economy practices, aiming for fair compensation and worker protection. Amid increased sensitivity to gig worker treatment, Pronto plans expansion in Gurugram and other Indian cities, offering additional services. The model addresses urgent consumer demand and aims for comprehensive service coverage.

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See potential in Indian single-specialty healthcare bets: Bain & Company's Arjun Upmanyu

VCCircle

VCCircle · 1y ago

See potential in Indian single-specialty healthcare bets: Bain & Company's Arjun Upmanyu

Consulting firm Bain & Company predicts that traditional sectors such as healthcare and advanced manufacturing will thrive in the Indian private equity and venture capital landscape in 2024. In a recent report, they stated that these sectors will emerge as outliers in an otherwise cautious environment. Bain & Company believes that there is great potential in single-specialty healthcare bets in India.

Zepto CEO sparks work-life balance debate amid toxic work culture allegations

Economic Times

Economic Times · 7m ago

Zepto CEO sparks work-life balance debate amid toxic work culture allegations

The CEO of Zepto, Aadit Palicha, has commented on the debate surrounding work-life balance on Indian social media. In an ironic statement, he expressed support for work-life balance, even though there have been allegations of a toxic work culture at Zepto requiring long hours from employees. Other corporate leaders, such as Rishad Premji of Wipro, emphasize the importance of work-life balance and the need for individuals to define it for themselves. However, Narayan Murthy of Infosys sparked controversy by suggesting that young professionals should work 70-hour weeks to improve living standards in India, which drew criticism over potential burnout and a lack of work-life balance.

At the Big Four, work stress is taking a toll on both employee and employer

Livemint

Livemint · 10m ago

At the Big Four, work stress is taking a toll on both employee and employer

The demanding work pressure in the Big Four global consultancies, involving long hours and high expectations, is causing an increase in resignations among junior and mid-level employees. Junior-level attrition in the Indian consulting industry reached 20-22% in 2020. The workload and expectations have intensified in recent years, with clients requiring more options and increased failure rates. The consultancies are now taking steps to address the issue, such as implementing flexi-working models, providing mental health support, and introducing well-being initiatives. However, they also face the challenge of retaining top talent in the face of competition from rivals.

Greptile CEO Daksh defends 84-hr work week, says 'People exist who want this'

Inshorts · 8m ago

Greptile CEO Daksh defends 84-hr work week, says 'People exist who want this'

Greptile CEO Daksh Gupta faced criticism after he revealed he tells candidates that his company has 84-hour work weeks including Saturdays and sometimes even Sundays. He later defended himself, saying, "It might be hard to believe but there exist people that want this." "I want to clarify...I'm like this not because I'm Indian but because I'm San Franciscan," he added.

Bain, Inventia plan pharma bets; promoters to up stake in Zee

VCCircle

VCCircle · 1y ago

Bain, Inventia plan pharma bets; promoters to up stake in Zee

Bain Capital is likely to acquire a stake in Sai Life Sciences, valuing the company at around $800 million. Platinum Equity Advisors is in talks to acquire drugmaker Inventia Healthcare. Zee Entertainment plans to sue Sony for damages, accusing them of preventing the merger. Lightspeed Venture Partners is exploring ways to sell startup stakes valued at approximately $1 billion.

Banks' infra bond funding to turn expensive as investors demand higher returns

VCCircle

VCCircle · 4m ago

Banks' infra bond funding to turn expensive as investors demand higher returns

Indian banks face increased costs in raising funds through infrastructure bonds as investors seek higher returns amid a surge in debt supply. Domestic lenders have raised a record 892 billion rupees this fiscal year but face challenges as demand from long-term investors weakens, widening spreads between corporate and government bonds. Despite rising secondary market yields, institutional investors demand higher yields, affecting state-run banks and companies as they strive to meet fundraising targets.

Domestic pension funds, family businesses should invest in Indian startups: Amitabh Kant

Inc42 · 1y ago

Domestic pension funds, family businesses should invest in Indian startups: Amitabh Kant

Indian insurance companies, pension funds, and family businesses are urged to invest in India's startup ecosystem to make the country a leading startup nation, according to Amitabh Kant, India's G20 Sherpa. Currently, about 75-80% of startup funding comes from foreign investors, and there needs to be a shift towards domestic investment. Kant emphasized the need for domestic resources to flow into the Indian startup movement, with insurance companies, pension funds, and family businesses committing their resources to support Indian startups. This call comes as foreign investors show increasing interest in investing in Indian startups.

Alibaba seals India retreat with profits on unicorn bets

The Arc Web

The Arc Web · 1y ago

Alibaba seals India retreat with profits on unicorn bets

China's Alibaba Group is planning to exit its investments in India following a period of aggressive moves from 2015 to 2020. Despite facing restrictions on Chinese investments in domestic companies, Alibaba is expected to profit at least 100% from its $2 billion investment in half a dozen Indian companies. Zomato, a food-delivery unicorn that went public in 2021, has proven to be Alibaba's most successful investment in India. However, the company has also experienced losses in other e-commerce platforms such as Paytm Mall and Snapdeal.

Bundles are the hottest new show in streaming

Livemint

Livemint · 1y ago

Bundles are the hottest new show in streaming

Disney and Warner Bros. Discovery have announced plans to launch a new streaming bundle that combines Disney+, Hulu, and Warner's Max service. The bundle will offer both ad-supported and ad-free options and will be available at a later date this year. Additionally, the two companies are partnering with Fox to offer a joint-venture sports streamer. As traditional media companies face challenges from cord-cutting and increased competition, bundling is seen as a strategy to reduce churn and boost revenue. The success of these bundles will depend on how well Hollywood rivals can work together and differentiate themselves from Netflix.

Elon Musk believes, “There are no great social networks.” Aims to build the best

Livemint

Livemint · 1y ago

Elon Musk believes, “There are no great social networks.” Aims to build the best

Elon Musk tweeted that there are currently no outstanding social networks, expressing his commitment to creating an exceptional platform. He acknowledged the possibility of failure but emphasized their dedication to making a great social network. Musk also announced the removal of the tweet-blocking feature on his social media platform, X, despite facing criticism. He defended the move, reiterating the goal of building a great network, even in the face of potential setbacks.

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