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News, The Morning Context

Is the worst over for Paytm?

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The year after the Reserve Bank of India’s (RBI) action against Paytm Payments Bank started hard for the company, threatening its operational existence. However, Paytm is showing signs of recovery. In the December quarter, its revenue came in at ₹1,901 crore. The company bagged the National Payments Corporation of India’s approval for a Third-Party Application Provider (TPAP) license, marking a key regulatory milestone. CEO Vijay Shekhar Sharma has emphasized compliance.

News, The Morning Context

The Good Glamm Grp sells ScoopWhoop to WLDD for Rs 20 crore

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In the week gone by, this is the second such sale by the content-to-commerce company as it struggles for funds. The Good Glamm Group has signed an agreement to sell its media property ScoopWhoop to marketing company Wubba Lubba Dub Dub (WLDD) in an all-cash deal of Rs 20 crore. The deal, signed on February 15, is an all-asset sale, meaning WLDD acquired the intellectual property assets but not any of ScoopWhoop’s liabilities. This follows the sale of Sirona back to its original founders.

News, The Morning Context

Post-IPO Mobikwik is walking on a knife’s edge

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It reported losses in Q2 and Q3, its financial services business is reeling and its payments business is growing but earning less. The Gurugram-based fintech needs a turnaround. Since its mid-December initial public offering (IPO), MobiKwik’s shares have fallen by just under 40%. The company’s losses are largely due to its financial services business being severely impacted, despite healthy growth in its payments business. This financial trouble is attributed to sectoral headwinds and a debacle in its P2P lending product with partner Lendbox, which virtually shut down after an RBI circular.

News, The Morning Context

Women are being sidelined at Microsoft India, say insiders

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In September last year, a group of senior women executives at Microsoft India sought a meeting with the country head, Puneet Chandok, and the HR head, Rikatkar. The matter was far from routine. They were concerned about the treatment of women executives under the current leadership of the tech giant’s India arm. The trigger was the recent exit of a senior woman executive in the leadership team. Those seeking the meeting were of the view that the executive had been unfairly forced out of her job and that Chandok and Rikatkar had not stood up for her.

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