Elon Musk, the new technoking of Twitter
A “free speech absolutist,” Musk has a long love-hate relationship with the platform. He accused him of caving in to censorship, while tweeting more than nine times a day on average in 2021.
Here’s a look at Musk’s special relationship with Twitter through the numbers.
The number of Twitter shares held by Musk, nearly four times more than Twitter founder Jack Dorsey, who owns a 2.25% stake.
The value of Musk’s stake at the closing price of Twitter stock on Friday, April 1.
Twitter’s share price jumped – its biggest ever one-day gain – after disclosing its stake the following Monday.
How much the rally earned Musk on paper that day, increasing the value of his Twitter stake to $3.7 billion.
Twitter net income from 2019 to 2021.
The proportion of Musk’s net worth – $268 billion – that $3.7 billion represents.
Musk’s number of Twitter followers (as of April 7, 2022), making him the 10th most popular user on the platform.
The number of times Musk tweeted in 2020, his busiest year on Twitter so far. Since it was a leap year, that equates to 9.2 tweets per day.
The number of tweets he posted in July 2020, his busiest month on Twitter so far. That’s over 14 tweets a day.
The year Musk posted his first tweet. Before that, someone impersonating him was using the @elonmusk grip. The impostor didn’t gain much traction, and Musk cleared the air with his first tweet on June 4, 2010. He didn’t tweet again until late 2011.
Written by Zaheer Merchant in Mumbai.
Other Top Stories by our journalists
Unacademy is laying off about 1,000 employees in huge cost-cutting exercise
Why? About 600 people were asked to leave last week as the Bengaluru-based company seeks to cut costs amid an impending downturn in venture capital funding and a tightening economy. Unacademy was valued at $3.4 billion last August when it raised $440 million led by Singaporean Temasek.
BNPL Sezzle leaves India: US buy-it-now-pay-after (BNPL) company Sezzle is closing its India operations from April 9 as part of a restructuring exercise at its parent company. The fintech notified merchants of its decision on Wednesday and asked them to remove the service from their websites at the earliest.
CCI to Investigate Zomato, Swiggy for Unfair Pricing, Other NRAI Allegations in the Spotlight
In a detailed memo on Monday, CCI ordered an investigation into Zomato and Swiggy over alleged unfair pricing practices and other issues reported last year by a restaurant association. The NRAI, which represents more than 500,000 restaurants, filed a complaint with the anti-monopoly watchdog last July.
Ashneer Grover Requested BharatPe’s Financial Data, CEO Denied Access
That same day, Grover wrote to BharatPe’s board, asking it to serve Sameer with a show cause notice after he accused Grover of stealing money from the company during a LinkedIn spat. the day before.
Grover says he and others bought BharatPe’s stake from Bhavik Koladiya: Grover told us on Wednesday that shares of Bhavik Koladiya — one of the company’s original co-founders — were purchased in a pre-Series A funding round by him, Sequoia Capital, co-founder Shashvat Nakrani and the Beenext angel investor.
Systems in place to prevent slipping, says Suhail Sameer, CEO of BharatPe: BharatPe will focus on changing some governance practices, including how purchases take place within the company and improving compliance and transparency, fintech company CEO Suhail said. Sameer.
Tata Digital finally unveils awesome Neu app
After several delays, Tata Group finally launched its highly anticipated Tata Neu super app to the public on Thursday. “Tata Neu is an exciting platform that brings all of our brands together in one powerful app,” Tata Sons Chairman N Chandrasekaran said in a LinkedIn post, “Combining our traditional consumer-centric approach with the modern technology, it’s a whole new way to experience the wonderful world of Tata.”
Previously, Tata Digital started testing online payments through the Unified Payment Interface (UPI) on Tata Neu. The test was carried out with a closed user group in partnership with ICICI Bank, sources said.
Tata NeuTata Digital hooks top ecomm executives: Tata Digital, led by its chairman Mukesh Bansal, who previously co-founded Myntra and also runs Curefit (now renamed Cultfit) has quietly recruited key people into the e-commerce arm of Tata Group.
From the crypto world
Coinbase Launch Brings UPI Usage For Crypto Under Lens
Will make long-term investments in India, Coinbase CEO says: Coinbase co-founder and managing director Brian Armstrong said the company would invest in India for the long term. He said Coinbase was drawn to the country’s developer talent, entrepreneurial spirit, and “willingness to embrace new technologies.”
Crypto exchanges under stress as 1% TDS deters liquidity providers: Cryptocurrency players’ order books are under pressure again and investors are finding it difficult to buy or sell such assets as liquidity providers have decided to stay away, deterred by tax complications .
Crypto trading volumes drop: Trading volumes on cryptocurrency exchanges fell 30-70% after hitting a monthly peak on March 31. Merchants are now required to pay a flat 30% tax on gains made on VDAs.
Crypto Exchanges Turn to Institutional Investors, Students as Volumes Fall: Crypto exchanges are hoping to attract everyone from large institutional investors to students to stem the drastic drop in daily trading volumes.
Up to 50,000 IT jobs could temporarily shift to India as Ukraine burns
Up to 50,000 tech jobs could be temporarily moved to India from the conflict zone in the next quarter if tensions continue.
India’s top IT companies are expected to post double-digit sales growth: India’s top IT companies are expected to post strong revenue growth in the fourth quarter, analysts and brokerage firms said, while continued talent shortages and inflationary pressures are expected to squeeze margins.
To combat the talent shortage, IT companies are moving to smaller cities: IT service providers such as Accenture Inc, Tech Mahindra, HCL Technologies and Mindtree, among others, are expanding to Tier II and Tier III sites as they battle unprecedented talent shortages.
IT companies welcome the resolution of the double taxation problem with Australia: The resolution of the double taxation problem between India and Australia as part of a broader trade agreement has been a boost for major IT service providers. India and Australia signed an Economic and Trade Cooperation Agreement (ECTA) on March 31 which aims to ease the standards of collaboration and talent sharing between the two nations.
Startup M&A deals surge as funding begins to slow: Amid an unfavorable geopolitical environment and a slump in US tech stocks, another boom cycle is now giving way to Indian startup consolidation – similar to what happened in 2016-17.
Closed deals ETtech
Omnivore, an agri-tech venture capital firm, said it was setting up a new $130 million (Rs 1,000 crore) fund to invest in technology-driven startups focused on agriculture, food , climate change and rural development.
High-tech and enterprise technology investment firm Speciale Invest has raised Rs 286 crore towards the final close of its second fund.
Software-as-a-service (SaaS) startup Rattle has raised $26 million in a funding round, led by New York-based venture capital firm Insight Partners, and participation from Global Ventures and existing investors Sequoia Capital India and Lightspeed India Partners
Quick Trade Scores During IPL
As the Indian Premier League takes hold of the country this year, fast-trading startups are looking to capitalize on cricket fever with Zepto and Swiggy Instamart seeing an almost 40% rise in orders during match hours.
Organized by Judy Franko in New Delhi. Graphics and illustrations by Rahul Awasthi.
That’s it for us this week. Stay safe.