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08 Aug 2022, 17:56

Unicorns and startups should prepare for a longer funding winter, says SoftBank's Masayoshi Son

Unicorns and startups should prepare for a longer funding winter, says SoftBank's Masayoshi Son

Unicorns and startups should prepare for a longer funding winter, says SoftBank's Masayoshi Son

Masayoshi Son, Founder and CEO of Japanese investment group Softbank, on Monday warned unicorns and startups to prepare for a harsh and longer funding winter ahead, as the company posted disastrous results for the second straight quarter this year. In the earnings call after reporting $23.4 billion net loss in the June quarter, Son said that unicorn leaders "still believe in their valuations and they wouldn't accept that they may have to see their valuations go lower than they think".

Ronnie Screwvala's edtech company upGrad bags ₹1,670 crore
08 Aug 2022, 11:15

Ronnie Screwvala's edtech company upGrad bags ₹1,670 crore

Online higher education platform upGrad on Monday said it has raised $210 million (about Rs 1,670 crore) in a round that saw participation from ETS Global, Bodhi Tree, Kaizen Management Advisors and others -- at a time when the Indian edtech companies are busy sacking employees amid the ongoing funding winter.

Stock trading app Robinhood fires 713 employees, CEO says 'it's on me'
03 Aug 2022, 10:29

Stock trading app Robinhood fires 713 employees, CEO says 'it's on me'

Silicon Valley-based online trading app Robinhood has sacked 23 per cent of its workforce, just three months after the fintech platform reduced its headcount by 9 per cent amid the global economic turmoil. A 23 per cent reduction would amount to about 713 employees being laid off, leaving nearly 2,400 employees at the company, reports TechCrunch.