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News on Medial
Meet Bankrupt WeWork’s New Indian-Origin CEO Anant Yardi
Inc42
·
1y ago
Medial
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.
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Billionaire Anant Yardi becomes WeWork's majority stakeholder
Inshorts
·
1y ago
Medial
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.
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Indian-origin man's unicorn Builder.ai used 700 people for coding work it said was AI-powered
Inshorts
·
2m ago
Medial
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.
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Google Signs MoU With Anant Raj To Offer Data Centre Infra
Inc42
·
1y ago
Medial
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.
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WeWork’s India Exit Deal Falls Through Amid Sector Revival
Inc42
·
10m ago
Medial
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.
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Former FTX CEO Sam Bankman-Fried's bail revoked ahead of trial
Startup News FYI
·
1y ago
Medial
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.
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Honeywell appoints Anant Maheshwari as President and CEO of its High Growth Region Portfolio
IndianStartupNews
·
2y ago
Medial
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.
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Ambani Wedding: Indian Politicians Join The Ambani's To Celebrate Anant & Radhika's Wedding Ceremony
Money Control
·
1y ago
Medial
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.
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Government proposes self-declaration with regard to proof of origin under Customs law
YourStory
·
1y ago
Medial
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.
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Perplexity's Indian CEO says 'I must get green card', Musk agrees
Inshorts
·
7m ago
Medial
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.
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Server makers, data centres spot opening in DeepSeek's ascent
Economic Times
·
6m ago
Medial
Indian server makers and data center providers like Netweb Technologies, Anant Raj, and Micromax are seizing business opportunities from the launch of the affordable AI model DeepSeek R1, rivaling higher-cost US alternatives. Stock prices for Netweb and Anant Raj surged 10%. Micromax anticipates increased demand after its joint venture, Mi-Phi, started making AI memory chips. Netweb foresees its AI server business revenue contribution rising to 18-20% within two years.
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