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Week Wrap Up: Flipkart Founder Binny Bansal Steps Down As Company's Group CEO Stay tuned to get every day updates in 60 seconds

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1. Alibaba hits a jackpot. Breaking last year's record, the Chinese e-commerce giant has earned $24.3 billion by the midday of their annual sale Singles' Day.

2. Robyn Denholm is the new Tesla boss. Weeks after Elon Musk stepped down as the company chairman, the Australian businesswoman was appointed to fill the shoes.

3. Binny Bansal has stepped down as Flipkart's Group CEO. His resignation came in wake of an independent probe into the serious personal misconduct allegations against him.

4. In the biggest hire of the year, Oyo has appointed former IndiGo President Aditya Gosh as its new CEO for South Asia. Ghosh will look after the company's India and South Asia operations from December.

5. Infosys finally has a name to replace MD Ranganath. The software company has confirmed the appointment of Jayesh Sanghrajka as its interim Chief Financial Officer.

6. Uber has lost over $1 billion in the last quarter. The Silicon Valley giant has publicly reported a 27% fall in its booking in comparison to last year.

Here's the "news that entrepreneurs can use". Know what's trending in the Indian business world in 80 seconds.
News and Trends

Multiples Private Equity Leads INR 1000 Cr Funding in Shubham Housing

With the raised funds, the Gurugram-based platform aims to propel its growth trajectory, diversifying its product offerings and strengthening its national footprint.

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Amazon Enters India's Booming Quick Commerce Market with Tez

Amazon Tez will first launch as a pilot program, allowing the company to refine its operations before scaling up across the country.

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Recur Club Announces Credit Offerings for Startups Beyond Series A and SMEs

In FY 24–25, the platform also plans to deploy an additional INR 2000 crores through its Recur Swift program for startups.

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Amazon To Invest $120 Million in India, Create Jobs

This amount will be invested in startups that digitize consumer goods manufacturing in India and cater to domestic and global demand, creating thousands of jobs

Side Hustle

At Age 15, He Used Facebook Marketplace to Start a Side Hustle — Then It Became Something Much Bigger: 'Raised Over $1.6 Million'

Dylan Zajac, now a 21-year-old senior at Babson College, wanted to bridge the digital divide.

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More Funding Needed for Startups, AI to be Significant in the Future

Significant resources and funding is needed to create a strong impact in the startup ecosystem artificial intelligence (AI) starts to play a more significant role, Vineet Rai, Founder and Chairman of Aavishkar said on the sidelines of the recently-concluded Sankalp Bharat Summit in Varanasi.