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Meet Bankrupt WeWork’s New Indian-Origin CEO Anant Yardi

Inc42 · 1y ago

Meet Bankrupt WeWork’s New Indian-Origin CEO Anant Yardi

Anant Yardi, an IIT-Delhi alumnus, has recently taken ownership of bankrupt company WeWork on May 30. Over the past two years, Yardi has invested over $200 million in equity and debt in WeWork. He has been serving as the head of asset management company Yardi Software for more than four decades.

Related News

Billionaire Anant Yardi becomes WeWork's majority stakeholder

Inshorts · 1y ago

Billionaire Anant Yardi becomes WeWork's majority stakeholder

Indian-origin Anant Yardi has become WeWork's majority stake owner after a US bankruptcy court approved the shared office space provider's bankruptcy plan, Financial Times reported. Yardi invested over $200 million in WeWork nearly two years ago. He recently committed an additional $337.5 million to counter an offer from ex-CEO Adam Neumann, who sought to regain control.

Indian-origin man's unicorn Builder.ai used 700 people for coding work it said was AI-powered

Inshorts · 2m ago

Indian-origin man's unicorn Builder.ai used 700 people for coding work it said was AI-powered

Builder.ai, Indian-origin Sachin Dev Duggal's now-bankrupt unicorn, used 700 Indian engineers for coding work which it claimed AI was doing "at a fraction of cost and time". Ebern Finance Founder Bernhard Engelbrecht claimed the final product "constantly glitched, code was unreadable, and functions didn't work". The Microsoft-backed startup got $445-million funds "with this scam's help", he added.

Google Signs MoU With Anant Raj To Offer Data Centre Infra

Inc42 · 1y ago

Google Signs MoU With Anant Raj To Offer Data Centre Infra

Google has partnered with Anant Raj Cloud to assist clients in creating artificial intelligence-powered solutions for data infrastructure, productivity, and security. Anant Raj Cloud, a real estate company, is currently constructing 300 MW data centers in three locations in Haryana, India. This collaboration aligns with the growing trend of major tech companies establishing data centers in India to meet the increasing demand for cloud services.

WeWork’s India Exit Deal Falls Through Amid Sector Revival

Inc42 · 11m ago

WeWork’s India Exit Deal Falls Through Amid Sector Revival

WeWork's plans to sell its stake and exit its Indian unit have fallen through due to a disagreement over valuation. The coworking company currently holds a 27% stake in the Indian unit, while the remaining 73% is owned by real estate company Embassy Group. WeWork had intended to sell its remaining stake in April through a secondary transaction worth INR 1,200 Cr.

Former FTX CEO Sam Bankman-Fried's bail revoked ahead of trial

Startup News FYI

Startup News FYI · 2y ago

Former FTX CEO Sam Bankman-Fried's bail revoked ahead of trial

Sam Bankman-Fried, the ex-CEO of bankrupt crypto exchange FTX, had his bail revoked by US District Court Judge Lewis Kaplan on Friday. The decision was prompted by allegations that Bankman-Fried leaked the diary of Caroline Ellison, former CEO of FTX's investment-arm Alameda Research, to the New York Times. Kaplan made the announcement during a federal court session in Manhattan.

Honeywell appoints Anant Maheshwari as President and CEO of its High Growth Region Portfolio

IndianStartupNews

IndianStartupNews · 2y ago

Honeywell appoints Anant Maheshwari as President and CEO of its High Growth Region Portfolio

Anant Maheshwari has been named President and CEO of Honeywell's High Growth Region Portfolio. In his new role, Maheshwari will oversee Honeywell's business operations in India, South East Asia, and Africa, focusing on driving growth and innovation across various sectors. This appointment reflects Honeywell's commitment to expanding its presence and impact in these high-potential regions.

Ambani Wedding: Indian Politicians Join The Ambani's To Celebrate Anant & Radhika's Wedding Ceremony

Money Control

Money Control · 1y ago

Ambani Wedding: Indian Politicians Join The Ambani's To Celebrate Anant & Radhika's Wedding Ceremony

Indian political leaders Uddhav Thackeray, Smriti Irani, Salman Khurshid, Mamata Banerjee, and more attended the lavish wedding ceremony of Anant Ambani and Radhika Merchant in Mumbai.

Government proposes self-declaration with regard to proof of origin under Customs law

YourStory

YourStory · 1y ago

Government proposes self-declaration with regard to proof of origin under Customs law

The Indian government plans to introduce self-certification for proof of origin for products imported from Free Trade Agreement (FTA) countries to simplify the process of seeking duty concessions. Currently, importers have to provide a 'certificate of origin' from the FTA partner country. The proposed amendment in the Customs Act aims to allow self-certification or different types of proof of origin to align with new trade agreements. This change is intended to support ease of doing business and reduce compliance complexities.

Perplexity's Indian CEO says 'I must get green card', Musk agrees

Inshorts · 8m ago

Perplexity's Indian CEO says 'I must get green card', Musk agrees

US-based Perplexity AI's Indian-origin CEO Aravind Srinivas posted on X saying, "I think I should get a green card" in the US and asked users what they think about it. Replying to Srinivas' post, X CEO Elon Musk said, "Yes." Srinivas had said in October that he has been waiting for his green card for three years.

WeWork’s insolvency is a warning to Indian startups like Byju’s

Money Control

Money Control · 1y ago

WeWork’s insolvency is a warning to Indian startups like Byju’s

The troubles faced by WeWork and Byju's, two prominent startups in the US and India respectively. WeWork's issues came to light when it filed for an IPO in 2019, while Byju's is facing consequences for its past actions. The article highlights the similarities between the two companies' downfall, with WeWork heading towards bankruptcy and Byju's being warned of potential risks. This serves as a cautionary tale for Indian startups like Byju's.

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