Zomato net loss triples to USD 46 million despite 75% jump in revenues

Zomato net loss triples to USD 46 million despite 75% jump in revenues

Published: Just now By Nikita Chaurasia

Indian food delivery giant Zomato Limited has reported a net loss worth USD 46 million in Q4 of FY2021-22 despite witnessing a 75% growth in revenue to USD 156 million as opposed to USD 89 million it earlier recorded dur....

Facebook-owner Meta to share more data on political advertisements

Facebook-parent Meta Platforms Inc has recently announced that it would provide additional data from its public ad database regarding the targeting decisions made by publishers running social and political-issue advertising. As a part of....

Hyundai’s U.S. investment expected to reach USD 10 billion by 2025

South Korea's largest carmaker Hyundai Motor Group is reportedly planning to invest an additional USD 5 billion in the U.S. by 2025. The company aims to strengthen its collaboration with technological firms in the country. During a v....

Massachusetts finds first 2022 monkeypox case in the United States

The Massachusetts Department of Public Health has recently reported the first case of a rare infection called monkeypox in a man who recently visited Canada. According to Boston’s public department, the identified case is no threat....

Amazon Smart Commerce to digitize 10 million small businesses in India

E-commerce behemoth Amazon Inc. has reportedly launched a “Smart Commerce” initiative in India, aiming to digitalize 10 million small businesses, allow for USD 10 billion worth in exports, and create 2 million jobs by 2025. D....

Russia denies plans of blocking YouTube & cutting off from the internet

The Digital Development Minister of Russia has reportedly stated that the country is not planning to block Google’s video streaming platform YouTube as such a move would affect its users and will therefore be avoided.  It is w....

McDonald’s to leave Russia after 30 years amidst Ukraine’s invasion

After Ukraine’s invasion, multinational fast-food giant McDonald's Corp. is reportedly planning to sell all its restaurants in Russia, pulling operations from the nation after 30 years. The world's biggest fast-food chain c....

Indian food delivery giant Swiggy to buy Dineout from Times Internet

Swiggy, an Indian food delivery giant, has recently announced an agreement with Times Internet to buy Dineout, a dining and restaurant technology platform. Swiggy will use the acquisition to enter the dining out (non-delivery) market, where....

Grocery delivery platform Instacart files for U.S. stock market debut

Instacart, a grocery delivery service, has announced that it has submitted a provisional registration statement with the Securities and Exchange Commission (SEC), clearing the way for the company to list its shares on the U.S. stock exchang....

Berlin’s GetHenry bags USD 17.4 Mn seed funding for business expansion

GetHenry, a Berlin-based company that offers couriers and logistics organizations electric last-mile delivery bikes, has reportedly raised USD 17.4 million seed round to grow its operations across Europe. The latest investment round was led....

Tyson Foods improves annual sales outlook as meat prices surge in U.S.

American food major Tyson Foods Inc. has reportedly improved its full-year sales outlook after witnessing better-than-expected earnings and revenue in the last quarter. The company raised its full-year sales to around USD 54 billion, above ....

EU likely to enforce new rules to regulate tech giants in spring 2023

The Executive Vice President of the European Commission Margrethe Vestager reportedly claimed that the union is likely to start enforcing the Digital Markets Act (DMA) in the spring of 2023. The antitrust legislation, which aims to limit th....

India teams up with Japan to develop affordable EV charging standard

India and Japan are reportedly working on a joint initiative to develop a standard for electric vehicle charging in emerging markets. The duo will use Japan’s protocols to make easier-to-install and operate EV charging stations. Th....