From crypto’s changing competitive landscape amidst WazirX looking to reopen its platform next month to Flipkart introducing credit card bill payments on Flipkart Pay, YourStory brings today’s headlines highlighting the latest developments across sectors.
Featured stories:
One’s loss, another’s gain: Indian crypto exchanges race to woo WazirX users as market shakes up
Following a cyberattack in July 2024, crypto exchange WazirX is now gearing up to reopen its platform. This has resulted in its competitors racing to acquire users as the Indian crypto ecosystem shifts.
CoinSwitch, earlier this month, launched a Rs 600 crore initiative—CoinSwitch Care—for users impacted by the alleged cyberattack that resulted in the theft of over $230 million worth of digital assets.
Amid rising competition in the ecosystem, it is the users that stand to benefit—be it enthusiasts who want to begin trading or those with their funds frozen on the WazirX platform.
Latest news:
US-based tech giant Microsoft forecasted a slower growth in its cloud business amidst rising expenditure on artificial intelligence (AI), dampening investor sentiment.
Microsoft’s shares declined by about 5% in after-market on Wednesday post its second-quarter results.
However, the company reported a 12% year-on-year rise in Q2 revenue to $69.6 billion. Microsoft also saw its profits widen to $24.1 billion, up 10% from the year-ago quarter.
Meta’s Q4 earnings soar as CEO Zuckerberg hints at a ‘really big year’
Facebook parent Meta reported a surge in fourth-quarter profit and revenue, driven by strong digital advertising spend.
The California-based firm’s net profit surged 49% year-on-year to $20.8 billion, while its Q4 revenue reached $48.8 billion, up 21% from the same period last year.
For the full fiscal year, the social media giant reported a total revenue of $164.5 billion—a 22% annual growth. Its net profit for FY24 surged 59% to $62.4 billion compared to the previous year.
Funding news:
Salad Days raises Rs 30 Cr in maiden institutional funding round
Cloud kitchen brand Salad Days has raised Rs 30 crore in its Series A funding round to support its expansion plans.
The round, which marked the company’s first institutional fundraising in its decade-long run, was co-led by V3 Ventures and Client Associates Alternates Fund (CAAF).
It currently operates 25 kitchens across Delhi, Mumbai, and Bengaluru. A part of the capital infusion would look at growing its penetration in existing cities across pincodes as well as innovations with an omnichannel presence adding about 20 stores by the end of this year.
The Gurugram-based company also plans to use the funds to spruce up its tech infrastructure, upskilling and expanding its team as well as marketing and branding efforts.
Other news:
Flipkart enables credit card bill payments on Flipkart Pay
E-commerce marketplace Flipkart on Thursday launched a credit card bill payments feature on Flipkart Pay, in an attempt to strengthen the platform’s position as a one-stop solution for payment needs.
Credit card bill payments, which emerged as a key category on Bharat Bill Payment Service (BBPS), will ease access to payment solutions for Flipkart’s customers.
“At Flipkart, we are constantly innovating to create a holistic and seamless payment ecosystem for our customers. The addition of credit card bill payments on our Recharges and Bill Payments platform reflects our commitment to becoming the preferred one-stop solution for all payment needs. With this launch, we aim to simplify bill payments for millions of users and support the rapid growth of this vital category on BBPS,” said Gaurav Arora, Vice President, Payments and SuperCoin at Flipkart.
Blinkit launches Nike gym accessories on its platform
Quick commerce startup Blinkit on Thursday said its customers can now get Nike gym accessories delivered in under ten minutes using its app.
The offering is currently available only in Delhi NCR and will be launching in other cities soon.
Quick commerce startups are increasingly bringing brand partnerships to their platforms as they look to cater to the wider needs of their users. Recently, Blinkit’s peer Zepto announced that users can purchase sports goods brand Decathalon’s products on its platform.
(The copy will be updated with the latest news throughout the day)
