Bullets

ChatGPT, the AI chatbot sensation, is currently down. Users worldwide are unable to access the service, along with other OpenAI platforms like the API and Sora.

OpenAI has acknowledged the issue and is working on a fix. They promise to keep users updated.

Is ChatGPT working on your end?

FirstClub, a fresh quick commerce startup, has just raised a whopping $8 million (₹67.2 crore) in seed funding.

Founded by the former CEO of Cleartrip, this platform aims to offer premium, fresh products right to your doorstep. Think high-quality groceries and other goodies.

FirstClub plans to launch in Bengaluru by mid-2025 and then expand to other major cities.

Know more about the startup landscape from Finology Insider.

Zepto's 10-minute food delivery service, Cafe, is getting its own dedicated app! The app is set to launch next week, promising faster and easier food ordering.

Zepto is on a roll, opening over 100 new Cafes every month and already delivering 30,000+ orders daily!

Know more about the startup’s growth plans and funding activities from here.

India is aiming to become a global tech hub! 🌍 The government is working on a new policy to encourage the setting up of Global Capability Centres (GCCs) in smaller cities.

This move will not only create more jobs but also boost the economy of these regions. The new policy will offer additional incentives beyond what state governments are already providing.

Are you excited about India's growing tech scene? Know more about the top locations by starting with Bengaluru.

Adani Group is facing a major debt crunch, with nearly $1.7 billion (~₹14,280 crore) in loans coming due in the next few months. The biggest chunk of this debt, a whopping $1.05 billion (₹8,820 crore), is owed by Adani Green Energy.

Adani Cement and Adani Ports are also facing significant debt repayments. This news comes amid ongoing concerns about the group's financial health.

Will Adani Group be able to manage its debt? Read more from here.

Lenovo is doubling down on Indian manufacturing! Their Puducherry plant is gearing up to produce powerful GPU-based servers, which will also be exported globally. 🌍

Plus, all Motorola phones sold in India are now made in India, with a significant portion exported to North America. 🇺🇸

Lenovo's Bengaluru lab is a hotbed of innovation, working on cutting-edge server technology.

Also Read: How did Bengaluru became the unicorn generating platform in India?

Uber's got a new trick up its sleeve to keep you riding! The ride-hailing giant has introduced its global loyalty program, Uber One, to the Indian market.

With Uber One, you can enjoy up to 10% off on rides, food deliveries, and more.

As the competition heats up with players like Rapido, BluSmart, and Namma Yatri, Uber is hoping this loyalty program will keep you hooked.

Also Read: How did Uber became a top player in India?

India's once-solid reputation for reliable economic data is starting to waver. While the government's GDP figures are still widely accepted, there's a growing concern about the lack of transparency and the increasing gap between official data and independent estimates.

As less and less data becomes publicly available, it's becoming harder to verify the accuracy of the government's claims. This raises questions about the true state of the Indian economy.

Should we trust the official numbers, or should we dig deeper?

India's states are in a fierce competition to become the next big tech hub! Madhya Pradesh, Uttar Pradesh, Telangana, and Andhra Pradesh are all vying for the attention of multinational companies.

These states are rolling out the red carpet with attractive incentives to lure companies to set up their Global Capability Centers (GCCs) outside the usual tech hotspots of Bengaluru and the NCR.

Which state will emerge as the next tech powerhouse?

Also Read: How did Bengaluru became a top platform for generating unicorns?

Amazon India is facing another high-profile departure. Ranjit Babu, the head of consumer electronics and former Cloudtail CEO, has decided to leave the company.

This comes after a series of executive exits, including the departure of India head Manish Tiwary.

Amazon India is currently undergoing significant changes, including the launch of its own quick commerce service, Tez.

Myntra, India's leading fashion e-commerce platform, has turned the page on its losses. In the last fiscal year, they raked in a profit of ₹30.9 crore!

How did they do it? By boosting sales, cutting costs, and focusing on logistics and advertising.

It seems like fashion is back in style, and Myntra is leading the trend.

Stay tuned for more updates with Bullets by Insider.

Flipkart, India's e-commerce giant, is planning a massive IPO in the next year or so.

To make this happen, they've shifted their base from Singapore to India. This move could set a new record for the largest IPO by a new-age company in India.

Are you curious for the next big tech IPO? Stay tuned for more updates on IPOs!

TikTok, the popular short-form video app, is facing a potential ban in the US. The US government is worried about the app's Chinese ownership and the potential risk to user data.

President Biden has signed a law that could force TikTok's owner, ByteDance, to sell the app to a US company. If a deal isn't reached, TikTok could be banned as early as January.

What will TikTok do now that its going to lose yet another big consumer base apart from India?

Paytm's parent company, One97 Communications, is selling its stake in the Japanese payments firm PayPay. This move is expected to boost the company's cash reserves.

This isn't the first time Paytm has sold off assets. Earlier this year, they sold their ticketing business, Paytm Insider, to Zomato.

What do you think about Paytm's recent moves? Is this a smart strategy for the company?

Also Read: Is Paytm going to lose its payment licence?

The Reserve Bank of India (RBI) Governor Shaktikanta Das announced the Monetary Policy Committee's decision to keep the repo rate unchanged at  6.5%. This decision came amid high inflation and economic slowdown in the country. 

The Cash Reserve Ratio (CRR) has also been reduced from 4.5% to 4%. CRR is a tool used by RBI to manage inflation and control excessive lending by banks. 

But have you ever wondered what would happen if there's no inflation? We have the answer. Check out here.

Nykaa Fashion CEO Nihir Parikh has stepped down from his role. However, he will continue to contribute as a member of its Board of Directors. 

The majority of the revenue of Nykaa comes from its beauty segment. The fashion vertical accounts for less than 10 per cent and is still loss-making. Nykaa reported a net profit of ₹12.97 Cr. and revenue of ₹1,874 Cr. for Q2 FY25. 

Check out the full story of how Nykaa became a success story.

Tata Electronics is planning to diversify beyond its “just an Apple supplier" status. It's aiming to become India's Foxconn. 

It’s targeting multiple tech giants like Microsoft, Dell, and HP to expand its contract manufacturing portfolio. Tata's strategy aligns with its ambition to become a key player in the global electronics manufacturing landscape. 

Check out Tata Group's other companies that are doing great in terms of market cap.

Swiggy Instamart is focusing on increasing its average order value (AOV) as part of its strategy to improve profitability in the competitive quick commerce space 

It reported 75% year-on-year gross sales growth in the September quarter. However, its AOV is ₹499, which is lower as compared to its competitors like Blinkit, with a reported AOV of ₹600. 

Swiggy also launched its IPO this year. Check out the full story here.

A US court has sanctioned millions of dollars on Byju's Chief Content Officer Vinay Ravindra & business partner Rajendran Vellapalath. 

The sanctions relate to their failure to comply with a court-ordered deposition, which could impact Byju's ongoing legal & financial struggles. 

This added another setback in the series of global setbacks the company's is facing.

To know the full story of the financial struggles of Byju's. Click here.

Unacademy has reportedly held a discussion with Allen Institute to sell the edtech platform for around $800 million (₹6,774.4 Cr.), marking a significant drop in valuation from its $3.4 billion (₹25,302 Cr.) peak in 2021. 

The talks reflect the challenges faced by India’s edtech sector, which has struggled with a prolonged slowdown post-pandemic. The after-effects of Byju's bankruptcy are another factor contributing to the deal. 

Aakash Insitute is also facing trouble because of its association with Byju's. Click here to know more.