Discover more from Ashish Sinha on Startups, Tech and AI
Tim Cook's 40% salary cut; Alibaba sells Paytm stake
+ Bill Gates uses Android
Tim Cook’s pay drops 40% this year, and he’s okay with it
Tim Cook’s pay will decrease by 40% this year.
According to a filing, Tim Cook requested that the board lower his pay.
The previous pay package totaled almost $99 million, which had received some pushback.
Wakefit, a D2C startup, secures $40 million in funding led by Investcorp
Existing investors Sequoia Capital India, Verlinvest, and SIG also participated in the funding round.
Alibaba sells Paytm stake for $125 million in a block deal
Alibaba sells 6.26% of its stake in Paytm for $125 million.
The stake was sold at 536.95 rupees per share.
Pune Labour Commissioner orders Amazon to appear over mass layoffs
The Pune Labour Commissioner has summoned Amazon to appear over its mass layoffs.
This is the second notice Amazon has received regarding its job cuts.
Cashfree lays off 150 employees to reduce costs
Cashfree, a Bangalore-based fintech startup backed by YCombinator and Apis Partners, lays off 150 employees.
This will affect around 6-8% of the company’s employees.
NCLAT rejects Google’s appeal for interim relief in antitrust order
National Company Law Appellate Tribunal (NCLAT) has refused Google’s appeal for interim relief in an antitrust order.
Google was fined Rs. 936.44 crore for abusing its dominant position in terms of Play Store policies.
Heads Up For Tails sees revenue growth of 85.9%, surpassing Rs 125 crore in FY22
Heads Up For Tails raised $37 million in its first institutional round in August 2021.
This large fund infusion enabled the company to scale in FY22, with an 85.9% growth in operating revenue.
The company’s operating revenue surpassed Rs 125 crore.
Thousands of People Laid Off by Salesforce, Amazon, and Compass; Recruiters Assure Job Market Will not Penalize Them
In the past, being laid off could be seen negatively by hiring managers.
However, the pandemic has created compassion in the job market.
Recruiters assure those laid off that it will not be held against them.
HCLTech reports 19% increase in Q3 net profit, surpassing market expectations
The software business of HCLTech is expected to be weak in the ongoing fiscal fourth quarter.
This may affect the overall numbers of the company.
Google TV to Offer Self-Charging Remote Battery Powered by Indoor Light
Google TV introduces a new remote option with a self-charging battery.
The battery is powered by indoor light.
Hisense and other companies are also part of the new year’s Google TV.