Reliance acquiring Reverie is a big win for India; L&T’s hostile takeover bid for Mindtree not good for shareholders

11th Apr 2019
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Reverie, a local language technologies developer, got acquired for Rs 190 Cr. For Co-founder and CEO Arvind Pani, the greater ‘personal’ satisfaction was from the fact that this was a ‘very Indian’ deal – a deal involving an Indian company, catering to the Indian market, being acquired by another Indian company, solving Indian problems. In a conversation with YourStory's Shradha Sharma, Arvind spills the beans on the inside story about the Reverie journey and its recent acquisition by Reliance.




How is Google Pay operating without authorisation: Delhi HC asks RBI


Addressing a PIL by Abhijit Mishra, a bench of Chief Justice Rajendra Menon and Justice A J Bhambhani posed the query to the RBI. This PIL claimed that Google Pay is operating as a payments system provider in violation of the Payments and Settlements Act. The court issued a notice to the RBI and Google India as Mishra's PIL contends that Google Pay does not figure in RBI's list of authorised 'payment systems operators'.




YouTube Music beats Spotify with 3 million downloads in just one week


First came Spotify, and YouTube Music followed suit, and now the two global giants are battling it out for dominance in the Indian music streaming market. Spotify stirred quite a frenzy when it announced that it had racked up a million unique listeners - all within a week. But, YouTube Music has taken a lead in terms of the number of downloads, claiming it hit 3 million downloads in its first week here.




L&T’s hostile takeover bid for Mindtree not good for shareholders: Krishnakumar Natarajan


Hostile takeover bids have been nonexistent so far in the Indian IT services sector. But Larsen and Toubro's (L&T) unsolicited takeover bid for software services provider Mindtree Ltd – billed as the first such instance in the IT sector – is now the centre of a much-heated debate. In a conversation with YourStory’s Shradha Sharma, Mindtree Executive Chairman Krishnakumar Natarajan talks about the winning culture of Mindtree and why this bid is not good for shareholders.




[Funding alert] Fantasy cricket startup BalleBaazi raises $1M


Online gaming startup BalleBaazi announced that it has secured a funding of $1 million from its parent company Baazi Games. At present, the company, which claims to have cemented its position among the top fantasy cricket platforms, boasts of around a million users who immerse themselves in the fantasy gaming experience every month.




Elon Musk takes a potshot at Jeff Bezos over space internet project


Who doesn't like a good emoji? Turns out Elon Musk surely does. As Amazon reveals its plans to launch over 3,000 low Earth orbit satellites to serve “tens of millions of people who lack basic access to broadband internet”, the SpaceX boss took a dig at Jeff Bezos over his favourite platform - Twitter! If all goes well, space is about to get a lot more crowded.




Bill & Melinda Gates Foundation backs Niramai to develop a cure for river blindness


Artificial intelligence-based healthtech startup Niramai announced on Tuesday that it is developing an artificial intelligence (AI)-based computer-aided software for controlling the spread of River Blindness. And this project will run with support from none other than the Bill & Melinda Gates Foundation.



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