December 2024

Amazon India has purchased 38 acres of land from Lodha Group for Rs 450 crore near Mumbai. This land will be used to develop a hyperscale data center, which is part of Amazon’s commitment to invest $12.7 billion in cloud infrastructure in India by 2030

Myntra, Flipkart’s fashion arm, has successfully turned around its financial performance, reporting a net profit of Rs 30.9 crore in the fiscal year 2024. This marks a significant improvement compared to the Rs 782 crore loss incurred in the previous year. This turnaround is attributed to a combination of revenue growth and effective cost management strategies.

Mobile Premier League (MPL) has expanded its operations by acquiring CloudFeather Games, a company specializing in gaming infrastructure. This acquisition aims to enhance MPL’s technological prowess and solidify its position in the competitive gaming industry. Notably, CloudFeather Games had previously secured $1.25 million in seed funding from Lumikai, a venture capital firm focused on gaming.

Recent government data reveals that over 5,000 startups registered under the Startup India initiative have ceased operations, constituting 3.3% of the 1.52 lakh recognized startups. This information was disclosed by Minister of State for Commerce, Jitin Prasada, in a parliamentary response.

BookMyShow has made a strong comeback after the pandemic. In the financial year ending March 2024, the company saw a significant increase in both profit and revenue. Their net profit jumped by 27.6% to Rs 108.63 crore, while operating revenue surged by 43% to reach Rs 1,396.86 crore