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12 May 2022, 17:06

SoftBank would cut startup funding by half this year as losses cross $13 billion

SoftBank would cut startup funding by half this year as losses cross $13 billion

SoftBank would cut startup funding by half this year as losses cross $13 billion

Japanese investment giant SoftBank on Thursday reported a huge net loss of 1.708 trillion yen ($13.14 billion) for the year ending March 31, saying that it would be forced to cut startup funding by more than half this year. The conglomerate also reported its biggest-ever quarterly net loss, 2.1 trillion yen ($16.2 billion) for the January-March quarter, reports Nikkei Asia.

Ola asks the man who sued the company to remove all negative posts against it, while another 65-year-old customer 'severely injured’
Kritti Bhalla
12 May 2022, 14:27

Ola asks the man who sued the company to remove all negative posts against it, while another 65-year-old customer 'severely injured’

Ola Electric has asked Balwant Singh, a customer who has accused the scooter maker of his son’s accident, to remove all negative posts against the company in the next 24 hours. The company has also asked Singh to refrain from making any “defamatory posts” against Ola Electric on social media.

At least 16 top executives have left Ola in the last two years
Kritti Bhalla
12 May 2022, 11:43

At least 16 top executives have left Ola in the last two years

Ride hailing giant Ola — run by ANI Technology — has been undergoing a series of high profile exits as it plans to take the public route by the end of this financial year. While the company has blamed some of these exits on “management restructuring”, the cause of others has been largely unknown.