ACQUISITIONS IN GAMING
GameStop shares plunge as company eyes Bitcoin with new bond offering — investors left scratching heads
GameStop plans to raise $1.75 billion by selling bonds to invest more in bitcoin and other business areas. The company already bought over 4,700 bitcoins. However, its shares fell as investors worry if this plan will help after recent sales dropped.
India's digital businesses are innovating faster with Data + AI, says Databricks founder
The Silicon Valley's data and AI company Databricks recently committed a $250 million investment in India over the next three years towards local R&D, talent development, and enterprise adoption of AI.
Digital payment firms face RBI scrutiny; Pine Labs, Meesho eye listings
Happy Thursday! After approving about 54 companies to become payment aggregators, the central bank is tightening its reins in the sector. This and more in today’s ETtech Morning Dispatch.
Big firms, bigger bets on crypto
US companies, facing slow growth, are increasingly drawn to crypto treasury operations, spurred by investor enthusiasm and regulatory hurdles in direct crypto purchases. While early adopters see significant stock performance, latecomers risk leverage-related losses.
Byju’s US assets Epic and Tynker sold for a song
Computer science education company CodeHS has acquired Tynker for $2.2 million in cash, a significant drop from the $200 million that Byju’s paid in a cash-and-stock deal to acquire it in 2021. Epic, which was acquired by Byju’s in 2022 through a $500-million cash-and-stock transaction, has been sold to China's TAL Education Group for $95 million.
Rapido trying a bite in a market that has burned big names
Rapido, the two-wheeler ride-hailing company, is venturing into the competitive food delivery market, backed by significant funding and plans to expand its reach. Aiming to disrupt the Zomato-Swiggy duopoly, Rapido offers lower commission rates to restaurants. However, the company faces challenges, including high operational costs and the need to differentiate itself in a demanding industry.
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CSK skipper Ruturaj Gaikwad signs for Yorkshire until end of season
Chennai Super Kings captain Ruturaj Gaikwad has signed with Yorkshire for the remainder of the season. The 28-year-old Indian batter will join the squad in July, participating in the County Championship and the Metro Bank One Day Cup. Gaikwad, who has represented India in both ODIs and T20Is, expressed his excitement to experience English cricket and contribute to Yorkshire's success.
Call of Duty: Black Ops 7: Who is developing upcoming game? Here’s release timeline and platforms
Call of Duty: Black Ops 7 is expected to release in October or November 2025. The game will launch across all major platforms, including older consoles. Treyarch is the lead developer, while other Activision studios will assist.
Cement prices to adjust further in June; 5-6% Q1 volume growth likely for industry: Rakesh Arora
Cement companies are attempting price hikes in Eastern and Southern India due to improved capacity utilization. While industry volume growth is expected to be around 5-6% in Q1, larger companies with acquisitions anticipate mid-teens growth. The rollback of West Bengal incentives may impact some players, but legal challenges are expected.
Cyril Amarchand Mangaldas appoints former Disney executive Mihir Rale as Partner, Co-Head of Digital/ TMT
Mihir Rale, former Disney and Star India General Counsel, has joined Cyril Amarchand Mangaldas as a Partner and Co-Head of the Digital | TMT practice. Based in Mumbai, he brings over two decades of expertise in technology, data, and media.
Batteries, EVs under threat? India fires on all cylinders for rare earths amid China's tightening grip
India is accelerating its efforts to secure critical mineral supplies, driven by China's increasing control over rare earth elements. New Delhi is forging partnerships with Central Asian nations and implementing an incentive scheme for mineral recycling under the National Critical Mineral Mission.
Josh Hazlewood and Mitchell Marsh lead Aussie charge in IPL 2025 - Full report card
The 2025 IPL saw 16 Australian players participate, with Josh Hazlewood and Tim David emerging as champions with Royal Challengers Bengaluru. Hazlewood's crucial final-over performance secured RCB's maiden title, while other Australians like Mitchell Marsh and Travis Head made significant contributions for their respective teams. Injuries and fluctuating form impacted several players, leading to varied performances throughout the tournament.
Top tech and startup stories this week
Welcome to a new edition of ETtech Unwrapped – our weekend newsletter packed with the most important stories this week. Let’s take a look.
Digital payment firms in a no-win game as margins hit rock bottom
Online payment aggregators (PAs) are locked in a race to the bottom on pricing, each trying to outbid the others to win market share in an increasingly cutthroat sector. The online PA space has seen frenetic activity over the past year, including new licenses issued, major players re-entering growth mode, and a couple of large fundraises.
Multibagger or IBC - Part 9: With exceptional margins, can this small-cap stock make it to the big league?
While the automotive industry grapples with EV transition uncertainties, this multi-technology components manufacturer has turned potential disruption into measurable opportunity. By CY2022, EV segments contributed 35% to the order book. The company's strategic foresight, evident since 2016, has translated into concrete business wins with major EV OEMs. And it has done so while maintaining pricing discipline in a margin-sensitive industry.
Shreyas Iyer’s cool-headed rise puts him in line for India’s top job
Shreyas Iyer's impressive IPL performance, leading Punjab Kings to the final after a successful stint with KKR, has solidified his reputation as a future leader for India. Despite not being selected for the England tour, his captaincy skills, strategic brilliance, and ability to inspire teams have garnered praise from figures like Ricky Ponting.
Musk kicks off xAI, Neuralink fundraises after DOGE farewell
Elon Musk is shifting his focus back to his businesses, with xAI seeking $5 billion to expand its AI footprint and Neuralink securing $650 million after successful clinical trials of its brain implant devices. X is rolling out XChat, a new direct message service, while Tesla appears hesitant to establish manufacturing in India despite initial interest.
Nielsen transforms India arm from GCC to Global Innovation Centre
Nielsen strengthens its India presence, transforming into a Global Innovation Centre. This shift emphasizes technology and product development. The company plans to hire 1,000 more employees in India in 2025. India's diverse environment aids in product testing for global markets. Nielsen focuses on AI, predictive analytics, and media planning tools.
NBA: “Just unbelievable”: Pascal Siakam’s brilliance propels Pacers to first NBA finals since 2000
NBA Finals: The Indiana Pacers are heading to the NBA Finals for the first time since 2000, after defeating the New York Knicks in Game 6 of the Eastern Conference Finals. Pascal Siakam's outstanding performance earned him the series MVP award. They are set to face the Oklahoma City Thunder, led by Shai Gilgeous-Alexander, in a highly anticipated championship series.
Virat Kohli's RCB in IPL Final: How three men changed Royal Challengers Bengaluru's auction dynamics
IPL 2025: Royal Challengers Bengaluru revamped their auction strategy, prioritizing role-specific players over high-profile names like Rishabh Pant and KL Rahul. This shift, guided by Mo Bobat, Andy Flower, and Dinesh Karthik, led to strategic acquisitions such as Phil Salt and Mayank Agarwal, who have significantly contributed to the team's success.
IPO bound Imarticus Learning acquires MyCaptain
Imarticus Learning has acquired edtech startup MyCaptain for Rs 50 crore to expand its presence in non-tech career training, especially in India’s tier 2 and 3 cities. The acquisition boosts Imarticus’ reach with 60+ live programmes, over 850 staff, and aims to serve 5 million learners in three years.
How to watch Chicago Sky vs. Phoenix Mercury: start time, TV channel, streaming info for May 28 WNBA game
The Chicago Sky and Phoenix Mercury meet for the first time in the 2025 WNBA season on Tuesday, May 28. Tip-off is scheduled for 10 p.m. ET at PHX Arena. Fans can watch the game via local TV or stream through WNBA League Pass or YouTube TV
Sony to make case for finance arm spin-off in latest corporate transformation
The company plans to distribute just over 80% of its shares in Sony Financial Group, which includes banking and insurance, to shareholders through dividends in kind. It is the first partial spin-off in Japan taking advantage of a 2023 tax change and the first direct listing - set for September 29 - in more than two decades.
Nazara Technologies shares in focus after Q4 revenue nearly doubles; net profit surges to Rs 4 crore
Nazara Technologies’ Q4FY25 revenue nearly doubled to Rs 520.2 crore, with net profit rising to Rs 4 crore. Despite higher marketing and employee expenses, esports and gaming segments showed strong growth. The company plans global expansion through acquisitions like Curve Games. Analysts maintain a ‘Hold’ rating, with an average target price of Rs 979, reflecting cautious optimism.
Nazara Technologies Q4 revenue nearly doubles; net profit rises to Rs 4 crore
Nitish Mittersain, CEO of the online gaming company, said Nazara expects greater contribution from high-margin gaming businesses this year, which should further improve profitability. The company witnessed a 95% jump in operating revenue during the fourth quarter, driven by its esports and gaming divisions. Total expenses also increased due to advertising and employee costs.
Nazara Tech Q4 results: Cons PAT doubles YoY to Rs 16 crore, revenue rises by 95%
Nazara Technologies posted 90% YoY profit growth in Q4FY25 at ₹16 crore, with revenue surging 95%. FY25 EBITDA hit a record ₹153.5 crore, driven by strong gaming momentum, strategic acquisitions, and steady margins despite high user acquisition costs.
ARCs seek bigger role in RBI's new securitisation framework
The RBI's draft allows pooling and securitising stressed retail and corporate loans, barring categories like farm loans, education loans, fraud, and wilful defaults. Investors must not be related to borrowers or disqualified under IBC norms.
Wordle hints and answers for May 24: Complete breakdown of puzzle #1435 to find today’s 5-letter word
Wordle puzzle #1435 is ready to be solved today, and if you're finding it a bit tricky, we've got you covered with helpful hints and the full solution. The theme is relatively straightforward, but choosing the right approach is key. Here's your guide to cracking the May 24, 2025, Wordle.
FTC drops case over Microsoft's $69 billion Activision Blizzard deal
The FTC lost an appeal on May 7 seeking to reverse a judge's decision declining to block the Microsoft-Activision deal, which closed in 2023. Microsoft president Brad Smith said on Thursday that the FTC's decision to drop the case was "a victory for players across the country and for common sense in Washington, D.C."
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