Month: January 2024

What Byju’s founder said in a letter to shareholders

The issue will take place at a post-money valuation of $225 million, which is significantly lower than the previous valuation of $22 billion. (Image sourced via Forbes India)

Byju’s founder and CEO Byju Raveendran addresses a letter to shareholders explaining the complexities posed by recent challenges, and how Byju’s, the leading edtech company, remains committed to its mission.

Marico records 11.82 percent spike (YoY) on advertisements and sales promotion

The total revenue of the company stood at Rs 3,385.61 crore, rising 6 percent from Rs 3,200.16 crore a year ago, the company said in a regulatory filing. (Representative Image: Franki Chamaki via Unsplash)

Value-Added Hair Oils grew by 3 percent in value terms amid slower rural demand, Saffola Edible Oils registered a mid-single digit volume decline.

Merger plans to legal disputes: Sony-Zee saga far from over

The Singapore International Arbitration Center is the first Asian arbitration institution to offer this process and has received over 130 applications since 2010 for the appointment of an Emergency Arbitrator. (Image source: Moneycontrol)

The termination of the Zee-Sony merger has set off a chain reaction with an impact on the legal front, apart from the markets and stakeholder confidence.

Netflix emphasises AI threat to streaming and creative industries

Netflix will also expand its buying capabilities to include The Trade Desk, Google's Display & Video 360, and Magnite who will join Microsoft as the main programmatic partners for advertisers.

Netflix acknowledges the potential risks associated with the rapid evolution of generative AI technologies in the streaming and creative industry.

Unilever media review: Mindshare sitting pretty, but Publicis, Omnicom, others to pitch for mega FMCG biz

Since 1995, when Fulcrum secured the first AOR (agency of record) and later evolved into Mindshare under the GroupM umbrella, the account has remained firmly entrenched,” said a leading media planner on conditions of anonymity. (Image source: Moneycontrol)

GroupM’s Mindshare, the long-time account holder, gears up for Unilever’s media planning and buying account review. While industry experts anticipate continuity, global players like Omnicom and Publicis are also set to participate.

Explained: Mega agency mergers over time and where they are now

The advertising universe is no stranger to mergers and rebranding. Storyboard18 takes a deep dive into the re-formation of ad agencies in India and outside, and their present standing in the world today. (Representative Image: Ashkan Forouzani via Unsplash)

Storyboard18 dives deep into the mergers in the advertising landscape.

Byju’s approves rights issue to raise $200 million from existing investors

The issue will happen at a post-money valuation of $225 million, which is 99 percent lower than the company's last funding round which happened at a valuation of $22 billion, (Image source: Moneycontrol)

Byju’s has reduced the monthly burn rate of its core business to Rs 50 crore and aims to achieve operational break-even in the next 2-3 months