US Senate hearing: Meta CEO Mark Zuckerberg apologises for social media impact on children

Under prodding from Republican senator Josh Hawley, Zuckerberg stood up and addressed families who held up pictures of their children who they said had been harmed by social media.

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Semiconductor Laboratory revamp: Tata, Texas, Tower among nine bidders

The state-owned Semiconductor Laboratory in Mohali is the only chip manufacturing unit in India that produces semiconductors for strategic and defence purposes, including for space exploration such as the Chandrayaan mission. However, the facility that was founded in 1976, has lagged behind private companies in terms of production as well as technology over the years.

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Meesho joins carts queued up at credit & grocery counters

Ecommerce company Meesho wants to start a credit marketplace where borrowers will be sourced on behalf of its lending partners — banks and NBFCs. Meesho is also planning to offer grocery business service, which it had scaled down in 2022, again in one or two cities from April.

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US FTC was poised to reject Amazon acquisition of iRobot

The Federal Trade Commission was poised to reject Amazon.com's $1.4 billion acquisition of robot vacuum maker iRobot before the companies announced early Monday they were abandoning the deal in the face of EU antitrust opposition, a source said.

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IT services hiring shows signs of traction, intent up 10% in January

The uptick in IT hiring comes after the macroeconomic slump in 2023 led to a massive headcount correction last year. However, experts caution that current requirements are only filling vacant roles not replaced over the past few quarters and that the numbers are still small.

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Shift in sentiment: Angel investors exercise caution amid changing startup dynamics

Angel investors have become watchful about putting their money in startups as their focus shifts from breathtaking concepts to solid business models.

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Elon Musk's X aims to hire 100 content moderators in Austin by end of year

Social media company X is in the process of hiring 100 content moderators for a new office in Austin, Texas that will focus on fighting child abuse content, a goal it hopes to complete by the end of the year, an X executive said on Saturday.

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Govt seeks ideas to push AI-driven e-governance

The Department of Administrative Reforms and Public Grievances (DARPG) recently brainstormed with nearly 15 domain experts from EY to PwC to stay in step with sweeping technology shifts and plan future public service delivery models using AI.

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Outrage over deepfake porn images of Taylor Swift

Fans of Taylor Swift and politicians expressed outrage on Friday at AI-generated fake porn images that went viral on X and were still available on other platforms.

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Indian publishers seek rules for copyright protection against generative AI models

Digital News Publishers Association (DNPA) has sent a letter and made representations to the ministries of electronics and information technology and information and broadcasting, seeking protection from likely copyright violations by AI models.

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Customs duty on electronic transmissions will hit semiconductor design locally: Industry bodies

India’s proposal to the World Trade Organization’s (WTO) 13th ministerial conference to refrain from extending a moratorium on imposing customs duties on electronic transmissions would impact the semiconductor design ecosystem in India, industry bodies told ET.

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Apple overhauls app store, iPhone features in EU to appease regulators

The revamp will allow customers to download software from outside the App Store for the first time, the company said Thursday. They’ll also be able to use alternative payment systems and more easily choose a new default web browser — addressing two frequent complaints of developers and lawmakers.

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Fast fashion brand Newme raises $5 million in funding round led by Fireside

The Bengaluru-based startup, which currently sells its own brand of clothing across both online and offline outlets was founded in 2022. It had in the past raised an undisclosed round of funding from investors such as Aum Ventures, 2am VC and All In Capital, all of whom have participated in the current round.

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Fidelity cuts fair value of Meesho, Pine Labs

As per the filings, Fidelity's funds have set Meesho’s fair value at around $4.1 billion as of October 31, 2023, down from around $5 billion as of end-August. Meesho was last valued at $4.9 billion after raising $570 million in 2021.

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Good Glamm cofounder Priyanka Gill to join Kalaari Capital as venture partner

Gill will also join the board of Good Glamm and become the chairperson of Good Media Co that runs the group’s digital media business, the company said in a news release.

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Microsoft hits $3 trillion value, cementing strength of AI rally

The stock rose as much as 1.3% to $403.95, resulting in a market capitalization of $3 trillion. The threshold cements Microsoft’s status as one of the largest public stocks. It briefly surpassed Apple Inc. in value — which last year became the first company to hit $3 trillion — but subsequently dropped back below the iPhone maker, with the two trading places ever since.

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Tech demand in FY25 to be better than this fiscal: TCS' NG Subramaniam

Though clients are not cutting down on the budgets in the ongoing fiscal 2024, they are optimising every aspect of the business since macro uncertainties remain, Subramaniam told ET in an interview.

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North Korea's AI development raises sanctions concerns, report says

North Korea is developing artificial intelligence (AI) and machine learning for everything from how to respond to COVID-19 and safeguard nuclear reactors to wargaming simulations and government surveillance, according to a new study.

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Yellow.ai deploys 30% of global generative AI bots domestically

While markets like the US are mostly using GenAI for customer support in a bid to cut costs, India Inc. is using them as an opportunity to grow revenues, generate business leads and sales support, Yellow.ai cofounder and chief executive Raghu Ravinutala told ET.

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Binance, SEC face off over regulator's crypto oversight

The U.S. Securities and Exchange Commission (SEC) on Monday defended its authority to oversee certain cryptocurrency assets in court, as Binance urged a federal judge to dismiss the regulator's case against the world's largest crypto exchange.

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FTX sold about $1 billion of Grayscale's bitcoin ETF since its approval: CoinDesk

FTX has sold 22 million shares worth close to $1 billion in Grayscale Bitcoin Trust (GBTC) since it was converted into an exchange-traded fund (ETF) earlier this month, taking FTX's GBTC ownership down to zero, CoinDesk reported on Monday.

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Top cop to head Karnataka fact-checking unit

For the Karnataka fact-check unit, five firms have been shortlisted - Gauri Media, Logically Infomedia, Trylika Technology, Newsplus Communications, and OW Data Leads. Senior IPS officer Pronab Mohanty, who is currently the additional director general of police (ADGP), cyber economics and narcotics (CEN), criminal investigation department will oversee the fact-checking unit.

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Tech boost? several US federal contracts up for renewal in next two quarters

Experts are of the view that while it's still hard for Indian companies to crack large US federal deals that are up for renewals over the next two quarters, there is a more positive attitude towards Indian-heritage suppliers.

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JEE Main 2024 Admit Card Released at jeemain.nta.ac.in, Download Session 1 Hall Tickets Here

The National Testing Agency (NTA) has released the JEE Main Admit Card 2024 for Session 1 on January 21. The testing agency has released the admit card only for the B.Arch and B. Planning programmes scheduled to be conducted on January 24, 2024. The exam for B.Arch. & B. Planning (Paper 2A & Paper 2B) is on January 24, and for B.E./B.Tech. (Paper 1) on January 27, 29-31, and February 01, 2024, at various centers. Admit cards can be downloaded from jeemain.nta.ac.in using registration details. The exam is in multiple languages, and candidates must carry the admit card with an affixed photo on the exam day. In case of issues, contact the NTA Helpline.

from Latest Education news - Board Exam Results, Admit Cards, Exam Paper Analysis and Question Papers | Times of India
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OpenAI suspends bot developer for Congressman Dean Phillips: report

OpenAI, the developer of ChatGPT, has banned the use of its AI tools in a political campaign after a bot mimicking Congressman Dean Phillips was created by a super PAC named We Deserve Better. The bot, called Dean.Bot, was powered by OpenAI's ChatGPT and was created by entrepreneurs Matt Krisiloff and Jed Somers.

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Davos 2024: Top quotes from tech world’s leading minds on artificial intelligence

​​In all, about 60 heads of state and 800 CEOs were in attendance among a total of 2,800 participants, as they discussed wide-ranging issues — from climate change to economic slowdowns — at both formal and informal gatherings.

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Elon Musk's AI company secures $500 million toward $1 billion funding goal: report

The artificial intelligence (AI) startup xAI is discussing a valuation of $15 billion to $20 billion, though terms could still change in the coming weeks, the report added, citing people familiar with the matter. Last December, Musk said his AI company was not raising funds, a day after the startup filed with the US securities regulator to raise up to $1 billion in an equity offering.

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The rise & rise of new-age stock brokers; and other top tech, startup stories this week

A crop of tech-first stockbrokers is not only leading from the front in adding new customers, they’re also generating strong revenues and profits. These stock-broking platforms, which have diversified beyond stock trading to position themselves as full-fledged financial services firms, have left behind the traditional players in terms of user sign-ups.

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Ram Mandir: UP government cracks down on deepfakes ahead of consecration

The Ram Mandir consecration is scheduled on January 22 and the Uttar Pradesh government is cracking down on AI-generated images and videos of Lord Rama to avoid any communal disturbance during the mega event. The government has roped in Staqu Technologies, which has installed 400 AI-enabled cameras in and around the mandir premises.

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Insurtech startups check expenses to secure profits

Insurtech startups such as Acko and Digit have switched gears to health insurance which is a more long-term product despite starting with motor insurance, which is mandatory for vehicle owners in India, as their principal product.

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Meta bringing together AI research and product teams

Meta CEO Mark Zuckerberg said on Thursday that the company was bringing its AI research team "closer together" with a more business-focused generative AI team launched last year, doubling down on a push to get the technology into products.

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Court bars US Apple Watch imports during appeal over ban

Apple on Wednesday failed to convince a federal appeals court to allow U.S. imports of Apple Watches with technology for reading blood-oxygen levels while it challenges a government tribunal's decision that the devices infringe patents belonging to medical technology company Masimo.

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Elon Musk's X approved for Virginia money transmitter license

Social media platform X received approval for a money transmitter license in Virginia, the 17th U.S. state to grant approval, as the Elon Musk-owned company advances efforts toward introducing payment features.

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DMI Group acquires ZestMoney in a fire sale

The deal will give DMI the exclusive right to use all brands of ZestMoney, with its non-banking finance company (NBFC) arm DMI Finance becoming the preferred lender on Zest’s platform, it said in a statement on Wednesday.

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Fintech startup Upswing raises $4.2 million in funding led by Quona Capital

The funds will help the Bengaluru-headquartered startup to expand the reach of its multi-bank deposit product as well as help build new products around deposits and lending, cofounder and CEO Anupam Bagchi told ET.

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Free Fire Max beats BGMI to bag India’s favourite esports tag

As per data from media analytics platform Comscore, Free Fire Max first overtook BGMI in terms of unique visitors in August 2022, just a month after the government blocked BGMI.

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Centre may allot Rs 10,000 crore for quantum computing hubs

An announcement to this effect is likely to be made during Global Artificial Intelligence Summit and Awards scheduled to be held here on January 18 and 19, a government official said.

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Baidu denies report that its Ernie AI chatbot is linked to Chinese military research

Technology company Baidu on Monday refuted a newspaper report that said its artificial intelligence chatbot Ernie was linked to Chinese military research.

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Upgrad in talks for $100 million to close US edtech Udacity buy

Upgrad founder Ronnie Screwvala, who owns 22.4% in Upgrad, likely to participate in $100 million round. The company has pitched to external investors for about $50-60 million. The rest would be from existing investors like Temasek.

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Netflix reels in viewers with three-word hooks

The two- or three-word tags, meant to convey the gestalt of a show or movie, regularly help viewers choose a show from the service's nearly endless library, the company says. The words are selected by about 30 employees -- so-called taggers.

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Google removes Binance, other offshore crypto apps from Play Store

Less than 24 hours after access to web platforms of crypto wallets such as Binance was cut off for Indian users, theirapps were also taken down from Google Play Store..

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The AI-ceberg of innovations: Meet AI-first startups shaping India's tech future

Over the last 12 months, a new generation of AI-driven companies and generative AI tooling startups have attracted investments, but this represents only a small percentage of the companies driving innovation in this space. Under the surface lies vast, untapped potential for more.

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ET Explainer: OpenAI’s response to NYT’s copyright lawsuit

OpenAI has refuted some of these allegations and claimed that the fair use doctrine of copyright laws will apply in its case. ET explains the case and its ramifications.

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Centre blocks web platforms of offshore crypto apps, including Binance, Kucoin and others

India blocked access to foreign cryptocurrency exchanges like Binance, Kucoin, and OKX, as well as virtual digital asset service providers. The Android versions of these apps are also expected to be removed.

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Bitwise bitcoin ETF draws most inflows on first trading day, company says

Bitwise reported that its spot bitcoin ETF received the most inflows out of the 10 products that began trading on Thursday. The SEC approved 11 spot bitcoin ETFs this week, including BlackRock's iShares Bitcoin Trust and Grayscale Bitcoin Trust.

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US firm ACI Worldwide sees a spot in cross-border payments business here

Says technology for cross-border payments is already available, needs regulatory push for greater adoption

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K-12 edtech startup ConveGenius raises $7 million in funding

ConveGenius, a K-12 edtech startup, has raised $7 million in funding led by UBS Optimus Foundation. The funding round also saw participation from Mount Judi Ventures and existing investors. ConveGenius provides schools with conversational AI tools like chatbots.

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SaaS accelerator Upekkha announces first close of $40 million VC fund

The fund was created with a leading investment from WestBridge Capital, among other limited partners including Godard Abel, founder and CEO of G2, a business-to-business marketplace that ranks SaaS companies.

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Earning IIM, IIT credits via free e-courses a hit

The popularity of self-learning through free courses offered by top institutions like IITs and IIMs is growing. SWAYAM, the Massive Open Online Courses platform, allows students to earn credits, certificates, and diplomas by appearing for exams. The number of candidates taking the exams has increased significantly, with a 204% growth in 2023. NTA conducts exams for self-paced and international courses, as well as a teacher training programme. SWAYAM exams are conducted in 105 cities across India.

from Latest Education news - Board Exam Results, Admit Cards, Exam Paper Analysis and Question Papers | Times of India
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DPDP Rules: Furore over leeway to some companies on use of kid’s data

Digital privacy and cybersecurity experts as well as lawyers ET spoke to also said that there needs to be additional deliberation on the finer workings of the consent artefact architecture, including how giving and revoking consent will work.

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Indian firms for ‘ONDC of App Store’ to break free from tech’s ‘walled garden’

Industry executives and Indian developers are batting for an ONDC of the App Store to take on Big Tech companies. But they are of the view that while this is a long-term solution, some interim measures need to be taken.

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Blue-collar jobs may weather raging AI storm better: experts

Only 1% of blue-collar jobs were currently at risk of being automated by AI, according to HR services firm TeamLease Services. In addition, AI can enhance blue-collar workers’ productivity in ways that could improve their pay, and companies are already investing in such technology.

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Voice actors air their fears about voice-stealing AI

With different GenAI models working on cloning voices, they can create a five-hour-long audiobook within minutes or even dub an entire OTT web series in 10 different languages. Regarding this, the Association of Voice Artists has reached out to FICCI to represent its concerns before the IT Ministry.

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A crystal ball gaze at the best tech of 2024

This year will have big tech showcasing advancements in AI and other technologies.

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How short video apps are fuelling big ambitions for content creators from small towns

A BMW bike and a house in Mumbai, homegrown short video apps are fuelling big ambitions for content creators from small towns. Even as platforms are becoming a ladder to fame for these influencers, competition from their urban counterparts is not easy to navigate.

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Cracking the code: Charting the consumer landscape of India

India’s consumer tech sector stood at $100 billion in FY-22, something that is expected to go up to $300 billion by 2027, growing at an annual growth rate (CAGR) of around 25%.

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Confident of Aditya L1’s insertion in halo orbit around L1: Nigar Shaji

Aditya was launched from the Sriharikota spaceport on September 2 and the spacecraft has traversed a distance of 1.5 million km from Earth. The final manoeuvre will involve firing a group of thrusters for a short period of time till 4 pm on Saturday. Aditya L1 has 12 thrusters.

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Telegram Messenger in the dark as to why fines in Russia were dropped

Fines imposed by Russian courts on Alphabet's Google and YouTube, Meta, TikTok and Telegram appear to have been settled as the companies are no longer registered as debtors in the state bailiffs' database, online records showed this week.

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System that could help power proposed Indian Space Station tested successfully: Isro

The 100W class polymer electrolyte membrane fuel cell based power system (FCPS) was tested in space on PSLV Orbital Experimental Module or POEM, launched onboard PSLV-C58 on January 1.

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Zomato hits pause on Blinkit integration to focus on building super brands

When Zomato acquired Blinkit for $570 million in an all-stock deal in 2022, analysts and investors were watching out for how the latter would get integrated with its food-delivery parent.

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Search startup Perplexity AI valued at $520 million in funding from Bezos, Nvidia

Perplexity's search tools enable users to get instant answers to questions with sources and citations. It is powered by a variety of large language models (LLMs) that can sum up and generate information, from OpenAI to Meta's open-source model Llama.

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Govt may amend IT Act to add new rules for AI, GenAI models

The amendments to the IT rules are likely to mandate that GenAI platforms which use artificially intelligent algorithms or language models to train their machines are free from “bias” of any kind.

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India's space startups report success of in-orbit experiments onboard ISRO's POEM

ISRO's PSLV Orbital Experimental Module (POEM) enables in-orbit scientific experiments using the spent PS4 stage as an orbital platform.

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MPhil course derecognised by UGC but West Bengal Govt plans to continue with it

The West Bengal government refuses to follow the UGC's notification on not enrolling in MPhil programmes, while universities in Karnataka and Tamil Nadu plan to offer MPhil courses. The West Bengal Education Minister states that the state will not accept the UGC's directive and will follow its independent education policy. The MPhil degree is important for research and academia, providing training in research methodologies, critical thinking, and academic writing. The future of the MPhil programme in West Bengal will depend on factors such as university autonomy and student demands.

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Catamaran president Deepak Padaki sees startup valuations falling further

In an interview with ET’s Beena Parmar, Deepak Padaki, who joined Catamaran Ventures last August, also talks about its investment exits, deal sizes and corporate governance at startups. Edited excerpts:

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Apple hits seven-week low after Barclays downgrade

Barclays is the second brokerage to have the equivalent of a "sell" rating on the stock, which now has its most number of bearish recommendations in at least two years, per LSEG data.

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Startups ‘flip’ back to India; SoftBank’s returns from listed firms

Startups are moving their overseas holding entities to India ahead of their forthcoming public listings, especially in the fintech sector which is governed by the country’s central bank regulations.

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More startups Swades-bound, map ‘reverse flip’

Pine Labs and Udaan are the latest to plan shifting their holding companies to India with an eye on the long term. They join several other well-funded and highly valued startups that are moving their overseas holding companies to India — or ‘reverse flipping’ ahead of listings.

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Meesho’s early backers eye new secondaries at $3-3.5 billion valuation

Norwest Venture Partners, WestBridge Capital are among entities said to be in talks to pick up stake in ecommerce firm Meesho. The development underscores the growing trend of secondary share sales in late-stage firms.

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