Adani Group’s open offer to buy an additional 26% stake in New Delhi Television Ltd has been given the go-ahead by market regulator Securities and Exchange Board of India.
On the subject of acquisitions and mergers, on Monday L&T Infotech (LTI) and Mindtree merged into LTI-Mindtree. The combined entity is now India’s sixth largest IT services company by revenue and fifth by market value.
FTX’s $32 billion implosion continues to rock the crypto world. Binance CEO Changpeng Zhao said the cryptocurrency exchange plans to launch a fund to help cryptocurrency projects facing a liquidity crisis.
Meanwhile, Michael Lewis, author of Moneyball and The Big Short, is reportedly buying the film rights to the book he was writing about FTX founder Sam Bankman-Fried.
ICYMI: Amazon founder Jeff Bezos has said he plans to give away most of his $124 billion fortune during his lifetime.
In today’s newsletter, we’ll talk about
- PhysicsWallah redefining edtech
- Unlocking India’s gametech space
- Financing Solutions for Bharat
Here’s your trivia for today: Founded in 1889, Nintendo started out selling what product?
Tech Sparks 2022
PhysicsWallah redefining edtech
Whether online or offline, technology needs to be infused into education to help students in areas like question resolution and revision, PhysicsWallah founder and CEO Alakh Pandey said during a talk alongside the fireplace with Your history Shradha Sharma, Founder and CEO, at TechSparks 2022, India’s premier technology start-up conference.
To the classroom:
- The company plans to build out its skill-related classes, though it hasn’t set a timeline for expanding its skill-enhancing vertical PW Skills, Alakh said.
- PW Skills, which was announced last month, currently offers a few free coding courses.
- In June, PhysicsWallah became India’s 101st unicorn after raising $100 million in its first round of funding, from WestBridge Capital and GSV Ventures, at a valuation of $1.1 billion.
Amount: $60 million
Round: Series B
Startup: Entrepreneur Entertainment and Hospitality
Amount: Rs 550 Cr
Startup: Selligion Technologies
Amount: Rs 3 Cr
Tech Sparks 2022
Unlocking India’s gametech space
While factors like increased demand for games and pandemic restrictions have opened up significant monetization opportunities, there are also challenges down the road in this multi-billion dollar business.
Speakers participating in a series of gametech discussions at TechSparks 2022 discussed what’s next for the industry.
Login to play:
- In terms of player base, India has over 500 million gamers, almost a quarter of which are paying users.
- However, the average revenue per paying user was estimated to have been only $20 per year in the previous financial year.
- India’s gaming market, comprising hyper-casual gaming, real money gaming, esports, and streaming, offers multiple monetization channels such as in-app purchases, play-to-win, ad revenue, and subscription.
Financing Solutions for Bharat
Foxhog Ventures India, part of Foxhog Ventures US, strives to provide an alternative financial solution to small farmers and businesses in small towns and rural areas. You make ‘income-based’ investments, where you receive a percentage of the profits made by the companies you invest in.
- Launched in March 2020, Delhi-based Foxhog Ventures Corp. India offers an investment solution for small, medium and micro-enterprises and small farmers in India.
- Its focus areas are Tier II and Tier III cities and rural areas, where obtaining financing is difficult, collateral-based, and fraught with cumbersome documentation.
- Foxhog Women, a subsidiary of Foxhog, is dedicated to providing equity and income-based financing to women entrepreneurs.
- Bad vision: Shares of Japan’s SoftBank Group Corp slumped on Monday after the company reported a steep loss in its Vision Fund investment arm for the third straight quarter. The shares plunged 13% in early afternoon trading, heading for their biggest one-day loss in more than two and a half years.
- Twenty-four hours a day: Billionaire Elon Musk said he was working “to the max…from morning to night, seven days a week” when asked about his recent acquisition of Twitter and his leadership at the maker of automobiles Tesla Inc.
- Cryptocrisis: The CEO of Singapore-based Crypto.com said the company will prove all naysayers wrong about the platform being in trouble, and that it has a strong balance sheet and took no risks.
Founded in 1889, Nintendo began by selling what product?
Answer: Playing cards.
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