Zepto hike it’s dark store commission to 3%
Quick-commence company Zepto had hiked its commission for dark stores to 3%. Dark stores are small warehouses that enable fast delivery of groceries and essentials.
The move comes as Zepto looks to offset rising costs and enhance efficiency. Some sellers are concerned that this hike could cut into their profits, while Zepto claims it will enable them to serve better.
The shift reflects the hurdles that quick-commerce companies encounter in maintaining growth and sustainability.
Mobikwik loss 15x to Rs 55.28 cr in Q3
In its third quarter, MobiKwik posted a massive loss. Compared to the same period from last year, the loss increased by 15 times to Rs 55.28 crore.
The firm struggled with rising costs and stiff competition in the digital payments landscape.
MobiKwik revenues rose, attributed to its lending and digital payments services, in spite of a loss. The firm is hopeful that it can improve its performance in the coming months.
OYO to invest £50M in UK over next 3 year
Hospitality firm OYO has announced it will invest £50 million in Britain over the next three years.
The investment is to increase reach and enhance the services. OYO will emphasize both upgrading properties and adding new locations.
The new company hopes to hire more employees and see the local serving a larger robust economy.
The company appeared confident of a good showing north of the border, adding it aims to make stays affordable for travelers — with strong potential noted in the UK market.
It means OYO is committed to growth and improved customer experiences.
Bhavish Aggarwal launch Rs 2,000 crore Krutrim AI Lab
Ola Founder Bhavish Aggarwal launches Rs 2,000 crore new AI lab ‘Krutrim‘ The lab will focus on building cutting-edge artificial intelligence technologies in India.
Aggarwal, went on to share his thoughts on making India the world leader in AI innovation. He also stressed the need to build home-brewed solutions to fix local issues.
The initiative is likely to generate employment opportunities and promote the tech ecosystem in the country, the report said.
Aggarwal’s decision is driven by his zeal to contribute to a “self-reliant India” in the area of cutting-edge technology.
This move has generated excitement along with optimism for a better future of AI development.
Salesforce layoff 1,000 employees amid AI expansion
Salesforce will let go of approximately 1,000 workers while it turns its attention to growing artificial intelligence (AI).
This is part of the company to simplify operations and double down on investments in AI technologies.
Even though the layoffs hit certain employees, Salesforce is focused on remaining agile in the rapidly evolving industry.
Even our own choice reflects an industry trend to focus on AI advancements to take advantage of future needs.
Those affected by the layoffs will be provided with support, such as severance packages and career assistance.
The move underscores the challenges businesses face as they juggle innovation and workforce changes.
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