Apple’s chief executive, Tim Cook, has announced his resignation effective September. Details on his successor, the challenges they will face, and Cook’s future plans were outlined in a company letter.
In separate news, Indian IT firm HCLTech reported a 12% increase in quarterly revenue, reaching Rs 33,981 crore compared to Rs 30,246 crore the previous year. Net profit grew by 4.2% to Rs 4,488 crore from Rs 4,307 crore. The company declared a dividend of Rs 24 per share. Total contract value for the fiscal year stood at $9.3 billion, with $1.94 billion in the fourth quarter.
Shares of fintech platform Groww surged 10% following a 122% rise in fourth-quarter net profit. The company also issued employee stock options convertible to equity shares valued at approximately Rs 51 crore based on the current price of Rs 212 per share.
South Korean companies Krafton and Naver, along with Mirae Asset, have established a Rs 6,000-crore investment fund targeting India. Managed by Mirae Asset Venture India, it will support areas like consumer internet, digital marketplaces, digitally native brands, generative and applied artificial intelligence, developer tools, and deep technology. Krafton plans an initial investment of Rs 1,230 crore, with the fund starting above Rs 3,000 crore and expanding over time.
Raise Financial, parent of the Dhan trading app, has purchased algo-trading startup Stratzy to enhance its offerings.
Harshita Arora, who became Y Combinator’s youngest general partner, shared that she never aspired to venture capital. She discussed her transition from founder to investor and broader industry insights.
Foreign online betting platforms exploited a technical glitch to evade taxes, prompting concerns over regulatory oversights.
