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LinkedIn appeals corporate ministry's order for SBO norms violation

A LinkedIn India spokesperson confirmed the development in response to an email query by Business Standard

Zepto slightly cuts losses to Rs 1248.6 cr, revenue doubles in FY24

Quick commerce firm Zepto has marginally brought down its losses to Rs 1,248.6 crore in 2023-24 from Rs 1,272.4 crore in 202223 , as per data shared by Tofler. The Mumbai-based firm posted a revenue of Rs 4,454 crore in FY24, more than two-fold increase from Rs 2,025 crore in the previous fiscal. Zepto co-founder Aadit Palicha took to LinkedIn to share the results. "Zepto reduced its absolute losses, with PAT (profit after tax) as a percentage of revenue improving significantly from -63 per cent in FY23 to -28 per cent in FY24," he wrote. Palicha expressed optimism about continuing this momentum towards profitability and said the company is on track for a profit after tax (PAT) in the near future. "Despite being only 3 years old, we were able to successfully close a full statutory audit by a Big 4 firm with no financial qualifications and a clean CARO. This rare achievement for a young startup is the outcome of a governance-focused culture at Zepto and early decision-making that

Varun Dhawan debuts on LinkedIn, bio says 'headlined 300-crore mega hits'

Actor Varun Dhawan starts his new journey on LinkedIn. The Bhediya actor said that he is looking forward to sharing insights, discussing creativity, leadership and BTS glimpses of the world of film

Ireland imposes $335 mn fine on LinkedIn for illegal data practices

The decision also includes an order for Microsoft Corp.-owned LinkedIn to bring its data processing into compliance with the EU's General Data Protection Regulation

Is going to prison the same as starting a new job? This FTX exec thinks so

Former FTX co-founder Ryan Salame updates his 'job position' on LinkedIn to 'inmate' before beginning a 7.5-year prison sentence

Zepto retains first place in LinkedIn's 2024 list of India's Top Startups

Quick commerce platform Zepto, for the second consecutive year, has been ranked first in LinkedIn Top Startups India List 2024 -- an annual ranking of emerging companies where professionals want to work. The list draws insights from data based on actions of more than 1 billion LinkedIn members globally. It measures startups based on four pillars: employment growth, engagement, job interest and attraction of top talent. Zepto was followed by compliance firm Sprinto and cloud storage management platform Lucidity. "This year's Top Startups list is a true reflection of India's burgeoning entrepreneurial ecosystem. Bengaluru continues to thrive with half of the Top Startups headquartered in the city. "14 startups (out of 20) are new entrants in this year's list and several first-time categories like biofuel, compliance and mental health point to the diversity of career opportunities for professionals eyeing the world of startups," Nirajita Banerjee, Career Expert and Head of Editorial a

LinkedIn trains generative AI models on user data, offers opt-out option

Reportedly, LinkedIn initiated the process of utilising user data to enhance its generative AI products without first updating its terms to reflect this change

Nvidia CEO Jensen Huang's experience as 'dishwasher' goes viral on LinkedIn

Jensen Huang founded Nvidia, the world's leading AI chipmaker in 1993. Before that, he worked as a dishwasher and waiter at an eatery called Denny's from 1978 to 1983

'Say goodbye to 9-to-5 jobs': LinkedIn co-founder latest prediction on AI

LinkedIn co-founder Reid Hoffman forecasts a seismic shift in the workforce landscape, driven by the relentless advance of artificial intelligence

Tech wrap Jun 14: Samsung Galaxy Watch FE, WhatsApp Calling Update and more

Samsung unveils Galaxy Watch FE, its maiden Fan Edition smartwatch. WhatsApp to enhance calling experience on the platform with new features. OnePlus schedules an event for June 18

LinkedIn integrates AI to help jobseekers attract potential employers

LinkedIn said it is bringing the AI-powered job experience to all premium subscribers, starting in English worldwide. Moreover, it plans to add more enhancements based on users' feedback

Beneficial ownership norms in focus as MNCs face greater scrutiny

Experts said that the SBO provisions are facing compliance issues since their introduction on account of interpretational issues

MCA fines LinkedIn India, Nadella, 8 others for companies law violations

The corporate affairs ministry on Wednesday slapped fines on Microsoft-owned LinkedIn India, Satya Nadella and eight other individuals for violation of the significant beneficial owner norms under the companies law. Nadella is the chief of Microsoft, which acquired the professional networking platform LinkedIn in December 2016. In a 63-page order, the Registrar of Companies ((NCT of Delhi & Haryana) said that LinkedIn India and the individuals violated the Significant Beneficial Owner (SBO) norms under the Companies Act, 2013. "... Satya Nadella and Ryan Roslansky are the SBOs in relation to the subject company and are liable to a penalty under section 90(10) of the Act, due to their failure to report as per section 90(1). Ryan Roslansky was appointed as the global CEO of LinkedIn Corporation on 1st June 2020 and started reporting to Satya Nadella," the RoC, which comes under the ministry, said in the order. Section 90 of the Act pertains to SBO. It requires companies have to ...

Ola CEO Aggarwal shuns Microsoft, says India needs its own tech platforms

Rebuking Microsoft and its subsidiary LinkedIn, Ola CEO Bhavish Aggarwal in a post said India needs to establish its own tech platforms to shun the chances of being "culturally subsumed" and "governed" by western big tech monopolies. Boycotting Microsoft, Aggarwal said Ola -- an existing customer of Microsoft Azure -- will no longer avail of its services, and will shift its entire workload to its homegrown Krutrim cloud in a week. The backlash comes after LinkedIn removed the CEO's post that called out LinkedIn's AI for "imposing a political ideology on Indian users". He had shared a screenshot from a generative AI response that used "they/their" pronouns to describe Aggarwal. Berating the "pronoun illness", he had said he hopes the practise doesn't reach India. "...the pronouns issue I wrote about is a woke political ideology of entitlement which doesn't belong in India. I wouldn't have waded into this debate but clearly LinkedIn has presumed Indians need to have pronouns in our

TCS, Accenture, Cognizant lead LinkedIn's top large companies list

Tata Consultancy Services has topped the LinkedIn's latest list of top companies to work for in India, followed by Accenture and Cognizant in the second and third place respectively. Professional networking platform LinkedIn on Tuesday released the 2024 Top Companies list for India wherein IT companies bagged the top three ranks, while financial services firms dominated the list with 9 out of 25 companies from this sector. The 8th edition has derived insights from LinkedIn data, and lists the top 25 large companies, 15 best mid-size companies, and provides insights on in-demand skills, top locations, and the largest job functions within these companies. Amongst large companies (500+ employees in India), Tata Consultancy Services retained its top spot this year, followed by Accenture and Cognizant. Continuing the trend from last year, financial services dominated the 2024 list with 9 out of 25 companies from this sector including Macquarie Group (4th place), Morgan Stanley (5th), an

Bengaluru techie turns Swiggy agent for a day, shares her experience

Bengaluru techie shared her experience as a Swiggy agent for a day. She shared how technology has empowered the supply chain to make life easier. Here's what she learnt as an agent

94% of Indian companies to reskill employees due to impact of AI: LinkedIn

The LinkedIn report also highlights that 48 per cent of India's hiring managers are providing career progression opportunities to their existing employees

GM's Cruise hardware chief resigns in latest exit post operation suspension

Jenkins, the senior vice president for autonomous vehicle platforms, is leaving after six years with the company, he said in a post on LinkedIn

LinkedIn COO shares tips to get a job in the age of Artificial intelligence

Daniel Shapero, LinkedIn's COO, shared his tips about getting jobs in the era of AI. Here's the advice he has for you

Blinkit 2023 report: Bizarre buys from condoms to maggi & iPhones

A customer ordered 2,670 toothbrushes in 2023, nearly 7 a day