One Thing Today in Tech
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Meta's Sheryl Sandberg accused of pressuring Daily Mail over boyfriend; Google adds 'reject all' button in EU; HCLT projects 12-14 percent growth
Sheryl Sandberg, chief operating officer of Meta Platforms, used her influence to bury two stories about her then-boyfriend, Activision Blizzard CEO Bobby Kotick, the Wall Street Journal reports. Google adds a 'reject all' option so users in the EU can reject all cookie tracking with one click. And HCL Tech, India's third-biggest IT company, expects revenue growth of 12-14 percent for the current fiscal year
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Mindtree, LTI reportedly in advanced merger talks; EU close to mandating USB-C; Lightspeed elevates three execs to Partner
Mindtree and LTI, Mumbai-listed IT services companies that are part of the Larsen & Toubro group, are in advanced merger talks, according to Bloomberg and Economic Times. The combined entity would have more heft to go after larger deals, and retain their best talent. In the startup world, early-stage VC firm Lightspeed has elevated three executives to the role of Partner on its investment advisory team, including two women
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Accenture invests in Strivr; Brave releases De-AMP; Indian SaaS companies to see $6.5 bln in funding in 2022
Accenture has made a strategic investment, through Accenture Ventures, in Strivr, a provider of virtual reality-based, immersive learning and training solutions for enterprises. Brave is continuing its efforts to popularise a privacy focused rival to Chrome, with a new feature called De-AMP. And Indian SaaS companies will see their fortunes rise this year too, according to a new report
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Wipro names former Accenture, KPMG exec Satya Easwaran India head; The $80 bln India semiconductor opportunity
Indian industry could reap benefits of up to $80 billion by participating in the global semiconductor manufacturing supply chain, by 2030, according to a report by the Indian Electronics and Semiconductor Manufacturing Association. And Wipro has recruited Satya Easwaran, a former Accenture and KPMG executive as its country head for India
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Infosys falls on quarterly miss, attrition worries; Apple expands green efforts; Twitter makes a 'poison pill' for itself
Apple said last week that its suppliers more than doubled their use of clean power over the last year, with more than 10 gigawatts operational now, out of nearly 16 gigawatts in total commitments in the coming years. Twitter is fighting to thwart a hostile takeover after Elon Musk offered $43 billion for it. Plus, Infosys shares fell as much as 9 percent in early Mumbai trading after a fiscal Q4 revenue miss
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Infosys ends FY22 with an 11-year record high, expects momentum to sustain
Infosys yesterday reported revenues increased by nearly 20 percent last fiscal year, the highest growth since the fiscal year 2010-11, and forecast growth of between 13 percent and 15 percent for the year that started this month. The rate at which people are leaving and switching jobs remains the biggest concern at a time of strong demand in the $227 billion IT services industry
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TCS ends FY22 with a record $35 bln in orders; Wipro buys CAS Group to add 138 industry consultants
Tata Consultancy Services reported the highest incremental revenue in the company's history, for the fiscal year 2022. Revenues for the year ended March 31, 2022, rose $3.53 billion to $25.7 billion, a 15.4 percent increase over the previous fiscal year, in constant currency, TCS said in a statement yesterday after markets. Meanwhile, Wipro is doubling down on its acquisition strategy under CEO Thierry Delaporte
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Rajeev Chandrasekhar announces Digital India Act; Startups get $10 bln three quarters in a row; Nissan accelerating solid batteries plan
India will soon roll out new rules called the Digital India Act, which will be a "renewed policy for the digital ecosystem and cyberspace" in the country, Minister of State for Electronics and IT, Rajeev Chandrasekhar said over the weekend, Economic Times reports. Meanwhile, startups in the country received more than $10 billion in funding for the third straight quarter, Press Trust reports, citing PwC. Plus, Nissan is stepping up its solid-state batteries plan
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NASA climate scientist arrested for protesting worst fossil fuel lenders; Elevation raises $670 mln; Unacademy fires 1,000
Peter Kalmus, a NASA scientist who studies biological systems and climate change, and three others were arrested in Los Angeles on Wednesday after chaining themselves to the doors of a Chase Bank office building, Business Insider reports. Elevation Capital has raised its biggest India fund. Plus, Unacademy is slashing jobs to curb cash burn, ET reports
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VerSe raises $805 mln; Twitter begins testing edit button; Charles Darwin's stolen notebooks returned
VerSe Innovation, a local language technology platform company in Bangalore, has raised $805 million in funding, taking the total capital raised in the past year to about $1.5 billion. Twitter has begun testing an edit button allowing users to alter published tweets. Plus, two stolen notebooks belonging to Charles Darwin have been returned
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Mindtree invests in COPE Health; PhonePe plans to fill 2,800 jobs to double strength; Speciale closes second fund at $38 mln
Mindtree has made a strategic investment in COPE Health Solutions, a US-based healthcare consulting, implementation, and co-management services provider, which expands its payer and provider footprint in America. PhonePe plans to double its workforce and has a raft of vacancies to fill. Plus, deep tech VC firm Speciale Invest has closed its second fund in four years at $38 million