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While VCs haven’t really been busy closing deals over the past year or so, their performance has surely come under increased scrutiny as limited partners (LPs) or sponsors of funds ask for cash returns. The Indian venture market, which is now 15 years old, has been exit-starved and a prolonged downturn has exposed the state of the industry very clearly.
Byju’s held an extraordinary general meeting (EGM) this morning to increase its authorised share capital. None of the participating investors objected to the proposal.
Indian startups are under scrutiny from the income-tax department over the funding that they’ve raised. This and more in today’s ETtech Morning Dispatch.
Tech Bytes
Instagram and Threads are limiting political content: This is terrible for democracy
This change not only signals Meta's retreat from politics and news more broadly, but also challenges any sense of these platforms being good for democracy at all. It's also likely to have a chilling effect, stopping content creators from engaging politically altogether.
Reddit soars after NYSE debut: here are top things to know
Social media company Reddit made a stellar debut on the bourses. Reddit's IPO raised $748 million after it was priced at the top end of the $31 to $34 range, valuing the company at $6.4 billion. Here are key things to know.
India's PC market to grow 14% in 2024 with AI-enabled tech in focus: report
Both commercial and consumer segments are expected to record robust double-digit percentage growth, while commercial procurement is anticipated to be the driving force. AI-enabled PCs and local manufacturing will be in focus, a report by Canalys found.