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Zomato eyes Paytm’s movie ticketing and events business.

Already in advanced discussions, this strategic move aligns with Zomato’s plan to expand its ‘going out’ offerings, and the potential deal could value Paytm’s vertical at about Rs 1,500 crore, The Economic Times reports.

If finalised, it would mark the foodtech giant’s second-largest deal, following the acquisition of quick commerce platform Blinkit (formerly Grofers) in 2021, which was valued at Rs 4,447 crore.

In other news, are world economies ready to govern with AI? 

A recent OECD policy report suggests that the use of AI by the public sector can increase productivity, the responsiveness of public services, and strengthen the accountability of governments. However, governments must also mitigate potential risks, building an enabling environment for trustworthy AI.

Speaking of which, the Indian government last month said it may soon come up with its own set of rules for AI regulation, but not at the cost of innovation.

Elsewhere, Essar Group plans to invest Rs 30,000 crore over the next four years in setting up a green hydrogen plant at Jamnagar in Gujarat as the metals-to-infrastructure conglomerate eyes clean energy as a key pillar for its new phase of growth.

ICYMI: The African nation where it’s still 2016, courtesy of its unique calendar. 

Lastly, what has caused some of the major cities globally to become “impossibly unaffordable” to buy a home?

In today’s newsletter, we will talk about 

• Mira Kapoor on launching Akind
• Making business networking easy

Here’s your trivia for today: The Karakum Desert occupies 70% of what country?

Interview

Mira Kapoor on launching Akind

In a world obsessed with elaborate 10-step skincare routines, celebrity influencer and public figure Mira Rajput Kapoor swears by her mantra of “less is more”. 

Her skincare line Akind, launched in partnership with Reliance Retail’s beauty platform Tira, is the latest addition to the mid-market skincare segment targeted at India’s growing D2C customer base.

Following a regime:

• Akind, which has launched nine products, including serums, moisturisers, toners, and sunscreen, is Tira’s first skincare label. 
• Earlier this year, the omnichannel beauty retailer launched its nail care brand, Nails Our Way, apart from its private label for beauty accessories under the label Tira tools.
• With its mid-market pricing, Akind aims to be one of the first brands to launch products which consumers can experience at the beginning of their journey into self-care and beauty. The price point also lends itself to forming a routine and staying consistent, said Kapoor.

Startup

Making business networking easy

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Roopak Naresh Gupta, mTap

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Roopak Gupta, a seasoned entrepreneur, knows how crucial it is to maintain business relationships. But keeping track of interactions across phone, in-person, and online settings can be overwhelming for anyone. 

To simplify networking, Gupta embarked on a journey to create mTap, a digital business card and contact exchange solution. His vision was to make it easy for users to consolidate their digital footprint and enhance their social equity.

Connections:

• The digital business card startup was founded in the US in 2022 and was launched in India in January 2024.
• mTap, has over 14,000 registered users, with around 7,000 in the US and 1,000 in India, and the rest from around the world. 
• mTap’s digital business cards use NFC (near-field communication) technology for contactless sharing. This allows users to easily share profiles, social media links, and other digital assets.

News & updates

• Pay rise: Pay cheques of C-suite roles in the US have been on the rise at the fastest rate for the last 14 years, the Financial Times reported. So far in 2024, median chief executive pay at S&P 500 companies has risen by 12%, according to ISS Corporate, part of proxy adviser Institutional Shareholder Services.
• Back again: Brace yourself for the epic firebreathing dragons and sword fights as HBO’s House of the Dragon returns for a second season. The Atlantic says it will be bolder, nastier, and in fact, harder to watch!
• Awakens: Voyager 1, the farthest human-made craft from the Earth, is finally sending back data from all four of its scientific instruments, NASA said. It is “conducting normal science operations” and the agency just needs to resync its timekeeping software and do some maintenance on a sparingly-used digital tape recorder.

What you should watch out for

• Stock market exchanges BSE and NSE will remain closed for trading on Monday, June 17, in observance of Bakri Eid. Normal trading will resume on Tuesday, June 18.
• Traveltech startup ixigo is all set to list on the Indian stock exchanges on June 18. Analysts believe the stock should list at around 30% premium from its issue price of Rs 93 a share.

The Karakum Desert occupies 70% of which country?

Answer: Turkmenistan. The Asian nation lies on the eastern coast of the Caspian Sea, but a majority of the country is covered by the Karakum Desert.

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