Podcast

Listen: RIL on fundraising spree; layoffs continue on the back of Covid-19; mixed bag for IT services earnings

The latest episode of the TechThisWeek podcast brings you news and insights, wrapped up in a weekly roundup of the following hand-picked developments in the startup and enterprise technology ecosystems in India.

  • Mukesh Ambani led Reliance Industries continued to build its fundraising momentum for Jio Platforms. After social media giant Facebook and US-based private equity firm Silver Lake, the company has brought Vista Equity Partners on board as an investor. 
  • The week saw French ethical hacker Robert Baptiste, known as Elliot Alderson by his Twitter handle, call out the Aarogya Setu app developers on a potential privacy issue.
  •  This was a week of contrasting performances for IT companies. While HCL reported robust growth of 16%, Cognizant was among the lowest with a 17% drop in net profits.
  •  Global consumer technology giants Uber and Airbnb along with Indian firm Cure.fit laid off employees in the ongoing Covid-19 crisis. While Uber laid off 3,700 full-time employees from areas of customer support and recruitment, Airbnb is letting go a quarter of its global workforce.

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