Avnish Anand takes over CaratLane as CEO
Avnish Anand, CaratLane’s cofounder and COO, has been appointed to CEO with immediate effect, just days after his previous employer and cofounder Mithun Sacheti quit the company, selling his shares to Tata Group’s timepiece behemoth Titan.
Sacheti and his family owned 27.18% of the firm, which was acquired by Titan last week for INR 4,621 crore, valuing CaratLane at INR 17,000 crore (about $2 billion). Titan currently controls 98.28% of CaratLane.
Titan will fund the transaction using a combination of cash balances, internal accruals, and debt, according to the business. The transaction is still subject to regulatory clearance from India’s Competition Commission (CCI) and other closing conditions.
If all permissions are obtained, the transaction is scheduled to be finalised by October 31st.
Former CaratLane CEO Sacheti’s exit was also one of India’s greatest ecommerce exits, second only to the Walmart-Flipkart deal, in which the two cofounders, Sachin Bansal and Binny Bansal, each received more than $1 billion for their interest in the ecommerce behemoth.
The business also said that cofounder Gurukeerthi Gurunathan will continue to serve as CaratLane’s chief technology officer (CTO).
“Mithun has been a pillar of support and a sounding board for all of my ideas over the years, so it’s understandably sad to see him go.” But I’m extremely happy for this new chapter since we have a fantastic chance ahead of us to grow a bigger and more outstanding business,” Anand, CaratLane’s new CEO, said in a statement.
through addition, the remaining 1.72% of the startup’s equity is held through ESOPs for 75 of its 400 corporate workers. Given that Titan will also be acquiring the remaining interest in CaratLane, these workers are expected to earn INR 340-380 Cr as compensation.
CaratLane, founded in 2008 by Mithun Sacheti and Srinivasa Gopalan, is an omnichannel business that makes and sells jewels in India and the United States. The firm competes with other domestic jewellery startups such as GIVA, BlueStone, and Melorra.
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First Vice President and Chief Operating Officer at the Federal Reserve Bank of New York, Sushmita Shukla, an insurance sector veteran of Indian descent, is now the second-ranking official at
DescCash transfers going straight into women’s hands, according to Melinda Gates, are a good illustration of how India creates policies with gender equality in mind. Melinda Gates, a philanthropist, praised
On December 6, consortiumofnlus.ac.in will release the CLAT 2023 admit card. Tomorrow, December 6, 2022, the Consortium of National Law Universities will release the CLAT 2023 Admit Card. On consortiumofnlus.ac.in,
An important notice regarding the UPSC Civil Services Mains Result 2022 has been published. The official notice is provided below for candidates to review. The UPSC Civil Services Mains Result
Companies sign nondisclosure agreements, and according to sources, the D2C firm’s personnel will join Aditya Birla’s new company. Aditya Birla Fashion & Retail (ABFRL) is close to entering the direct-to-consumer
With Google Cloud’s safe, scalable, and sustainable infrastructure, SuperPlatform may be accessed at scale by more game creators. SuperPlatform is a SaaS (software as a service) and will be an
The chief financial officer of omnichannel fashion and cosmetics retailer Nykaa, Arvind Agarwal, has left the company to explore other technology-related opportunities. On Tuesday, Nykaa said that the company was
Users of Jio Cinema have reported buffering issues despite having adequate internet connectivity. The FIFA World Cup has officially begun, with the opening ceremony taking place at Qatar’s 60,000-capacity Al
Shine.com interviews eight accomplished women who are trailblazers, inventors, and trend setters. According to an old proverb, educating and empowering a woman benefits her entire household. This profound insight into
SSC Selection Post Phase X/2022 Result: Candidates can check their results at ssc.nic.in or by using the links provided below. Staff Selection Commission has announced the SSC Phase-X/2022 Selection Positions
Cristiano Ronaldo’s new collection will be available on Binance’s website beginning November 18, 2022. Cristiano Ronaldo’s first NFT collection will be released on Friday, November 18 as part of a
Razorpay, the winner of the Startup of the Year category at the ET Startup Awards 2022, has already exceeded its annual gross transaction value (GTV) target of $90 billion for
Paytm’s loan disbursement value increased 387% year on year to 3,056 crore, while the number of loans disbursed increased 161%. In a letter to shareholders, Paytm CEO Vijay Shekhar Sharma
Ashneer Grover is the co-founder and former CEO of BharatPe, an Indian fintech startup. This December, entrepreneur Ashneer Grover will release his memoirs, which he describes as “all about the
Airtel Xstream Fiber is the presenting sponsor, with MPL, Nescafé, Noise, OLX Autos, and Vida as associate sponsors. According to Chaitanya Divan, Head of Sports, Prime Video, India, the company
The proposed merger between Bankman-Fried and rival Binance CEO Changpeng Zhao was the second emergency rescue in the world of cryptocurrencies this year After a contract with cryptocurrency exchange Binance
The fact that Infosys is approaching Cognizant’s level of growth reflects the latter’s difficulties, as it faced execution challenges and underperformed in comparison to its peers, despite the pandemic causing
The Round 2 seat allocation results for MHT CET Counseling 2022 will be posted on the CAP portal at cetcell.mahacet.org. Maharashtra Common Entrance Test or MHT CET 2022 round 2
RSIL(to be renamed Jio Financial Services Ltd.) is currently a wholly-owned subsidiary of RIL and is a Reserve Bank of India-registered non-deposit-taking systemically important (ND-SI) non-banking financial company. The board
Those applicants who are offered a place are required to report to the college between October 22 and October 28. Today, October 21, the Medical Counselling Committee (MCC) will release
He addressed the charges in a series of tweets, concentrating on the following elements: the economy, the demise of manufacturing, the impact of token distribution employment, and the cousin abroad
Musk has been working to raise money for the purchase of Twitter, and some analysts predict that following the Tesla quarterly report, he may need to sell an additional $3
Google, an American search engine, has introduced the updated Android 13 Go edition for low-cost devices. The Go edition was released five years ago to assist manufacturers in producing inexpensive
According to a top executive, Zoom Video Communications wants to develop into a platform for collaboration rather than merely a video conferencing network. According to Sameer Raje, general manager and
Around the world, celebrities have been endorsing startups in the plant-based protein sector. Rapper Jay-Z invested in Impossible Foods, and actor Leonardo DiCaprio invested in Beyond Meat. Former Indian cricket
TVS Capital invests in technology-driven financial services and enterprise (B2B) services. Unicorns such as Digit Insurance, Five Star Business Finance, and Yubi are currently in their Fund-3 portfolio (CredAvenue). Anuradha
Zenskar claims to have innovated system design and architecture to allow limitless flexibility. With a visual, drag-and-drop interface, non-technical users can configure any deal structure, it said. Billing startup for
Nike’s well-known motto, “Just Do It,” was created by Dan Wieden, who is frequently referred to as a legend of advertising. Dan Wieden, a well-known advertising pioneer and co-founder of
In the second Twenty20 International between India and South Africa on Sunday, Indian captain Rohit Sharma broke a number of records. Team India under Rohit has defeated the Proteas at
KPMG’s survey of Indian businesses found that about half of them reported raising their budgets, particularly for non-time-sensitive communications use cases. A 20% return on investment (ROI) in 5G and
Although Lionel Messi and Cristiano Ronaldo left their respective La Liga clubs, the league’s president of India claims that viewership has climbed steadily ever since their departures. Even when Cristiano
Today’s final NEET PG counseling round 1 allotment results are available at mcc.nic.in. On September 27, a provisional result was revealed. NEET PG 2022 Counseling: Today, September 28, Medical Counselling
Twitterati reported that the social networking site “Instagram” was unavailable to thousands of users worldwide. Twitterati reported that the social networking site “Instagram” was unavailable to thousands of users worldwide.
Swiggy and Zomato were ranked ninth and tenth, respectively, by the international research company ETC Group, which has its headquarters in Canada. According to recent research, domestic online meal delivery
When non-cash expenses for the employee stock ownership plan (ESOP) are taken into account, the company’s overall losses remain essentially identical at Rs 42 crore. In its FY22 audited results
According to the World Health Organization, burnout is a syndrome caused by unchecked workplace stress. Meesho, an e-commerce startup, has announced its annual 11-day holiday from October 22 to November.
Candidates may submit an application for MHT CET counseling in 2022 via cetcell.mahacet.org or fe2022.mahacet.org. State Common Entrance Test Cell Maharashtra has begun the counseling procedure for MHT CET 2022
Founded in 2013, Alpha Alternatives is a multi-asset class alternate asset management platform which has multiple strategies across absolute return, credit, commodities, value and quant-driven equities, and fixed income. Investment
However, ‘Naija Odyssey” appears to be a way to promote WhatsApp as Antetokounmpo recently signed an endorsement deal with the company, another first for the platform, reports Variety. In an
With Apple Mono Brand Stores and Apple Authorized Service Centers in Mumbai, Pune, Gurgaon, Ahmedabad, Lucknow, Chandigarh, and New Delhi, Unicorn has 38 points of contact across the country. It’s
Critics have criticized platforms like Alphabet’s YouTube and Meta Platforms’ Facebook for years, claiming that the corporations have permitted hate speech, misinformation, and violent language to flourish on their services.
For admission to undergraduate programs in engineering and technology, agriculture, and pharmacy, MHT CET tests are held in 2022. Students can verify their results on the board’s official websites, such
Apple Inc, the company’s main smartphone rival, already makes at least four models up to iPhone 13 in India through contract manufacturing partners Foxconn and Wistron. It is reportedly considering
In total, Rakesh Gangwal and his wife sold 1.05 crore shares, or 2.74 percent of the firm. The shares were sold for between Rs 1,886.471,901.34 and Rs 2,004.77 crore, making
The business claimed Agnilet just contains one piece of hardware and no completed components. The one-piece rocket was on display by Agnikul at the International Aeronautical Congress the previous year.
Mandaviya posted on Twitter, saying, “India’s Battle Against COVID-19 Gets a Huge Boost! The @CDSCO INDIA INF has approved Bharat Biotech’s ChAd36-SARS-CoV-S COVID-19 (Chimpanzee Adenovirus Vectored) recombinant nasal vaccine for
London: Using artificial intelligence, researchers have created a new smartphone app that may successfully identify COVID-19 infection in people’s voices (AI). According to them, the technique can be employed in
According to LinkedIn’s India Labour Market Insights, hiring in the nation increased 63% from the same quarter in 2019 to the quarter that concluded in June. According to Ashutosh Gupta,
Scientists assert that the lungs are more susceptible to infection by new coronavirus strains, such as the BA4 and BA5 substrains of Omicron. The effects of the intranasally administered Sputnik
The Pune-based company stated that it intended to utilize the investment to expand the breadth of its buy-now-pay-later (BNPL) business, expand its footprint to 150 locations, and accelerate the growth
Andhra Pradesh is hosting the first-ever CEO-Ministerial Dialogue under the World Economic Forum-Moving India Network in order to attract $4 billion in investment in the EV segment. On Friday, Andhra
Domino’s Pizza, India’s largest quick service restaurant chain with 1,625 locations, launched multiple “free rewards offers” on its own app last weekend, including delivery, takeaway, and dine-ins. Large restaurants have
On Saturday, Indonesia blocked access to PayPal, Yahoo, and several game services for failing to meet a licensing deadline. A senior official said on Sunday that Indonesia temporarily opened access
MHT CET 2022: Candidates can now download their hall tickets from the exam portal mhtcet2022.mahacet.org or the official websitecetcell.mahacet.org. The MHT CET 2022 admit cards for the PCB (Physics, Chemistry,
According to Vijay Shekhar Sharma, the company is still on track to achieve operating profitability by September 2023. One97 Communications Ltd, which operates under the Paytm brand, will sharpen its
On Thursday, Meta reported its first revenue decline in company history, owing to a drop in ad expenditure as the economy deteriorates and rival TikTok’s competition grows. Mark Zuckerberg, the
Phone Pe will raise $700 million in primary capital following the spin-off. The funds will be raised from existing Flipkart investors, led by Walmart, at a post-money valuation of $5.5
Vineeta Singh, the most polite shark on Shark Tank, has discussed how she frequently receives trolling and criticism in the social media comment sections for her appearance or clothing choices.
Reliance Jio Infocomm Ltd., owned by Mukesh Ambani, paid the highest pre-auction deposit, indicating that it will likely be the most competitive bidder in the sale that begins today. Some
The additional funding will be used by Crypso to expand its user base, product offerings, and technological capabilities. Crypso, a platform for community-driven cryptocurrency trading, has received $3 million (roughly
Savitri Jindal, who inherited her husband’s steel and power conglomerate after his untimely death in 2005, has seen her fortune rise by $12 billion in the last two years. Savitri
Instagram increased the pressure on Meta to use the feature to increase its e-commerce options. According to parent company Meta Platforms, Instagram is getting a payment feature that will enable
This month, Bill Gates will donate $20 billion to the Bill and Melinda Gates Foundation as part of the organization’s plan to give more quickly. In order to increase the
According to a top official, test preparation major Aakash Educational Services (AESL), which is owned by Byju’s, is confident of growing by 60-70 percent this year, with market demand, hirings,
New Delhi, India – After a cryptic tweet, BCCI President Sourav Ganguly on Thursday announced a partnership with Noida-based edtech startup Classplus to promote thousands of educators and content creators.
BSER Science, Commerce Results 2022: The results of the Class 12 final examinations in Science and Commerce will be available on June 1 at rajeduboard.rajasthan.gov.in. RBSE 12th Science, Commerce Result
More than 6,600 Instagram users have reported problems. After thousands of users reported problems accessing the image-sharing network, Meta Platforms announced on Thursday that it was trying to restore Instagram.
UPSC civil services prelims admit cards for 2022 have been released. Candidates should review the critical instructions for candidates provided below. On May 10, 2022, the Union Public Service Commission
On May 13, Prime Minister Narendra Modi will virtually launch Madhya Pradesh’s Startup Policy and Implementation Plan-2022. BHOPAL: Prime Minister Narendra Modi will virtually launch the Madhya Pradesh government’s Startup
NEET-PG admits card 2022 will be available soon on the websites natboard.edu.in and nbe.edu.in. The entrance exam will take place on May 21. The admit cards for NEET PG 2022
Arjun Mohan, CEO of upGrad, discusses timing the edtech brand’s campaigns to coincide with evaluation time, moving to the next phase with vertical-based marketing, and more. After spending the previous
LinkedIn’s settlement affects nearly 700 female employees who worked in various departments at the company’s San Francisco and Sunnyvale offices between 2015 and 2017. LinkedIn has agreed to pay $1.8
Coinbase CEO Brian Armstrong has slammed Apple for its stance on cryptocurrency and cryptocurrency-related apps. According to Armstrong, Apple has not been friendly to cryptocurrency and has prohibited app developers
Ocean Sparkle will become a wholly-owned subsidiary of Adani Harbour Services following the completion of the acquisition. Adani Ports and Special Economic Zone (APSEZ) has acquired a 100% stake in
Today, April 22, 2022, the BSEB Class 10 Compartment Exam Admit Card 2022 will be released. Candidates can obtain their admit cards from the BSEB’s official website, secondary.biharboardonline.com. On April
The Bank of Maharashtra Generalist Officer Result 2022 is now available. Candidates can access the results via the Bank of Maharashtra’s official website or the direct link provided below. Bank
Boring Company had launched its commercial tunnel project in Las Vegas last June to transport visitors through the city’s Convention Center using human-driven Tesla vehicles. Elon Musk’s The Boring Firm
Bhavish Aggarwal tweeted, “Doing some final “expert testing” for the MoveOS 2 music feature,” tagging Slokarth Dash and attaching a video of the duo dancing. Ahead of the much-anticipated launch
Anupam Mittal’s reaction, who appears from behind and inquires as to what is going on, demonstrates the accuracy of Mythpat’s impersonation. He then proceeded to strangle Mythpat jokingly. You can
Singapore: According to Singapore regulatory filings, Flipkart has invested $116 million in fashion retailer Myntra, according to Economic Times. According to the report, the investment was made on March 25,
The company is expected to be valued at $5 billion, nearly double the $2.5 billion valuations at which the funds were raised. Lenskart, an omnichannel eyewear retailer, has raised Rs
Previously, WhatsApp was only permitted to offer its payment service to 40 million Indian users. According to two sources familiar with the matter, Meta Platforms’ WhatsApp has received regulatory approval
Former shareholders led by Marc Rasella claimed that the delayed disclosure allowed Musk to purchase more Twitter shares at lower prices while duping them into selling at “artificially deflated” prices.
Following a series of controversies surrounding his removal from BharatPe, Ashneer Grover recently met with Kerala-based businessman Manas and posted a picture of their meeting on social media. Manas’ banana
Ola was last valued at $7.3 billion after raising $139 million in a Series J financing. Bhavish Aggarwal, the founder, and CEO of Ola will take a step back from
Elon Musk remains Twitter’s top shareholder, according to Agrawal. Elon Musk will not join Twitter’s Board of Directors, as stated last week. Twitter CEO Parag Agrawal started late Sunday night
The merger occurs as the SoftBank-backed firm, which was planning to list on the public markets this year, now plans to raise a new round of funding at a lower
Curefoods, a cloud kitchen company that houses brands like as EatFit, Frozen Bottle, CakeZone, and Great Indian Khichdi, has obtained money from Bollywood star Varun Dhawan and established a long-term
According to BharatPe CEO Suhail Sameer, the fintech company will focus on modifying some governance procedures, such as how procurement is handled within the organization and boosting compliance and transparency.
Today, at 1 p.m., the Bihar Board 10th Result 2022 will be released. Here’s how to check your BSEB matriculation result online. Bihar Board tenth grade result 2022: Today, at
According to the survey, the number of self-made women billionaires in India has tripled in the last decade. Falguni Nayar, the founder of Nykaa, entered the top ten list of