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News on Medial
Builder.ai Bankruptcy: How 1,500 Employees, $450M Funding, and Thousands of Client Businesses Got Locked Out
StartupTalky
·
1m ago
Medial
Builder.ai, a no-code software development platform, went bankrupt in May 2025, revealing financial mismanagement and leaving 1,500 employees jobless. With revenue overstated by 300%, a key lender seized $37 million, halting cash flow. The abrupt shutdown left thousands of clients, like a $65,000 EdTech startup, without access to their code or data. This situation underscores the risks of depending on third-party platforms and highlights the importance of code ownership and platform independence for startups.
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ETtech Explainer: Why AI startup Builder. ai is filing for bankruptcy despite backing from Microsoft and QIA
Economic Times
·
1m ago
Medial
Builder.ai, a UK-based AI startup backed by Microsoft and Qatar Investment Authority, is filing for bankruptcy after a lender, Viola Credit, seized $37 million of its $50 million debt, leaving only $5 million. This financial strain forced the company to lay off most employees, with remaining funds inaccessible for overseas payments. Founded in 2016, Builder.ai aimed to simplify app development. Operational challenges and financial mismanagement led to leadership changes and eventual insolvency proceedings.
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Cognizant seeks list of Infosys employees in trade secrets case - The Economic Times
Economic Times
·
14d ago
Medial
Cognizant has demanded Infosys identify employees who allegedly misused confidential TriZetto software data to develop its Helix platform. Infosys called the request overly broad, involving thousands of staff. The ongoing US lawsuit centers on trade secret theft, with both firms locked in a legal and competitive battle since August 2024.
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B'luru founders should come to Mumbai, learn to build real businesses: Nayar
Inshorts
·
11m ago
Medial
Sorin Investments Founder Sanjay Nayar said some Bengaluru founders should come to Mumbai and Delhi and slog it out. "You'll learn how to build real businesses against all headwinds," he said. "I think the Bengaluru market has become very incestuous. In Mumbai, real businesses get built despite how you live and travel," he added.
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JPMorgan’s Jamie Dimon predicts AI reducing work weeks to 3.5 days, says ‘Tech has always replaced jobs, but…’ | Company Business News
Livemint
·
7m ago
Medial
JPMorgan CEO Jamie Dimon believes that artificial intelligence (AI) will bring positive changes to businesses and work-life balance, potentially allowing for shorter workweeks in the future. While he acknowledges the risks of job displacement, Dimon emphasizes the historical benefits of technology. He mentions that thousands of JPMorgan employees already use AI and highlights the opportunities it presents for improving living standards and healthcare. Dimon hopes to reassign employees affected by AI advancements rather than firing them, as demonstrated by the company's acquisition of First Republic in 2023.
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Why CEOs love to return to work while employees don't? A former Amazon VP explains impact of wealth on life's priorities
Business Today
·
4m ago
Medial
Ethan Evans, former Amazon VP, discusses how executive wealth influences work-life priorities. Executives often enjoy perks like private jets and assistants, which distance them from employees' daily realities. This disconnect highlights the challenge of aligning executive and employee perspectives. By addressing this gap, businesses can foster a more inclusive culture. Evans suggests using stories and data to bridge understanding, ensuring executive decisions consider employees' varied circumstances, particularly regarding work-from-home preferences.
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Malicious actors trying to exploit global tech outage for their own gain
Economic Times
·
12m ago
Medial
Government cybersecurity agencies and CrowdStrike CEO George Kurtz are warning businesses and individuals about phishing schemes related to the recent software update outage caused by CrowdStrike. Malicious actors are posing as CrowdStrike employees or tech specialists offering assistance. Airlines, especially in the US, have been heavily affected by the outage, with thousands of flights canceled. Healthcare systems faced clinic closures and restricted access to patient records. Questions are being raised about the quality control of the software update from CrowdStrike, and experts expect scammers to exploit the situation through targeted phishing attempts. Affected businesses should only use a fix from CrowdStrike and be wary of unsolicited help.
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Work from office helps with better team building and learning, says TCS CEO
Livemint
·
1y ago
Medial
TCS CEO and MD, K Krithivasan, emphasized the value of employees returning to the office for in-person collaboration and building camaraderie. He highlighted the importance of informal conversations that occur in an office environment, which are often overlooked by video conferencing tools like Zoom and Microsoft Teams. Krithivasan also mentioned the missed opportunities for crucial learning experiences, such as observing how seniors handle client situations. In terms of the market outlook, he expressed cautious optimism, particularly in the medium term, and noted the abundance of opportunities in technology work and modernization.
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SMBs are being targeted by this new phishing scam — make sure you don't fall victim
Techradar
·
1y ago
Medial
Hackers are exploiting SendGrid, a popular email service provider, to conduct phishing campaigns targeting businesses. The attackers gained unauthorized access to client mailing lists and sent convincing phishing emails impersonating SendGrid. The emails instructed recipients to activate multi-factor authentication and included a link that led to a fake login page controlled by the hackers. This campaign is particularly dangerous as it bypasses traditional email security measures, making it difficult to detect. Kaspersky recommends training employees to recognize and prevent email-based attacks as an effective defense against phishing.
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Life after getting payment aggregator license: Thousands of merchants already pinging us, says Razorpay's Harshil Mathur
Money Control
·
1y ago
Medial
Harshil Mathur, CEO of Razorpay, expressed his elation upon receiving approval from the Reserve Bank of India (RBI) to become a payment aggregator (PA). After waiting for over a year, Razorpay, along with other fintech companies like Cashfree, EnKash, Open, and Payments, can now onboard new merchants to their platforms. Mathur mentioned that thousands of merchants have been waiting and he is confident that Razorpay will be able to attract and onboard many new businesses. He also highlighted how the company focused on other business lines and initiatives to compensate during the waiting period.
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SEC ramps up hack probe with focus on tech, telecom companies
Economic Times
·
1y ago
Medial
The U.S. Securities and Exchange Commission (SEC) has reached out to tech and telecom companies to understand how they responded to the SolarWinds cyber attack last year. The attack, which compromised SolarWinds' network management software Orion, allowed hackers access to thousands of companies and government offices. The SEC is scrutinizing the impact of the attack and looking for any gaps in corporate security. Last year, the SEC filed a lawsuit against SolarWinds and its top information security executive, alleging that they deceived investors by concealing cybersecurity vulnerabilities during the breach. The SEC has not yet commented on the recent inquiry.
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