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Musk buys Twitter πŸ’°, Zomato CEO joins UC board πŸ™‹πŸ», Top banks on UPI for crypto πŸ€•

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Musk buys Twitter πŸ’°, Zomato CEO joins UC board πŸ™‹πŸ», Top banks on UPI for crypto πŸ€•

Musk buys Twitter for $44 bn, Zomato CEO Deepinder Goyal and 3 others join Urban Company board, Top banks ask NPCI to clarify its stance for crypto, Funding Deals & more.

Rise & Shine β˜€
Apr 26, 2022
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Musk buys Twitter πŸ’°, Zomato CEO joins UC board πŸ™‹πŸ», Top banks on UPI for crypto πŸ€•

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Morning folksπŸ™‹πŸ»β€β™‚οΈ,

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Elon Musk buys Twitter for $44 billionπŸ’°

Twitter has been finally acquired by Elon Musk. The social media confirmed the news by sharing that an entity owned by Elon Musk offered $54.20 per share in cash to acquire Twitter. Musk has bought Twitter for around $44 billion. With this, Twitter will now be a privately held company.

Twitter

Talking about the price per share, the stockholders will get $54.20 in cash for each share which is a 38% premium to Twitter’s closing stock price on April 1, 2022.

β€œTwitter has a purpose and relevance that impacts the entire world. Deeply proud of our teams and inspired by the work that has never been more important. Free speech is the bedrock of a functioning democracy, and Twitter is the digital town square where matters vital to the future of humanity are debated," said Mr. Musk.

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Zomato CEO Deepinder Goyal and three others join Urban Company boardπŸ™‹πŸ»

Urban Company has appointed four new independent board members.

They are: Zomato founder and chief executive officer Deepinder Goyal; former partner at McKinsey & Co Ireena Vittal; cofounder of Helion Ventures Ashish Gupta; and former chairman and senior partner of PwC India Shyamal Mukherjee.

  • Vittal is also an independent board member of Compass Plc, Diageo Plc, Godrej Consumer Products, HDFC Limited and Wipro.

  • Gupta also serves as an independent board director for Info Edge, HUL and others.

  • Goyal is also on the boards of edtech Unacademy and Magicpin.

Urban Company’s Board will now comprise three executive directors, three non-executive directors and four independent directors. The company is looking to have a board with at least 50% independent directors, it said in a statement.


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  • Zypp Electric, an EV-as-a-service platform has raised $1 million in debt funding from Northern Arc to expand its EV Fleet services.

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Top banks ask NPCI to clarify its stance on UPI for cryptoπŸ€•

Leading banks have started to question India’s β€˜shadow ban’ on cryptocurrencies.

Many top lenders have asked the National Payments Corporation of India (NPCI), which runs the Unified Payment Interface (UPI), to issue a formal directive about any curbs on its use in buying and selling crypto.

crypto investors

Several banks have grudgingly blocked UPI for trading crypto based on β€œverbal instructions” from NPCI. Now, they want it in writing.

A formal communique from NPCI seems unlikely any time soon. An NPCI official told ET that there are β€œno intentions of [issuing] any circular”.


Tweet of the dayπŸ₯

Twitter avatar for @elonmusk
Elon Musk @elonmusk
I hope that even my worst critics remain on Twitter, because that is what free speech means
4:12 PM βˆ™ Apr 25, 2022
1,874,281Likes247,347Retweets

πŸš€ Join our Telegram channel for more insights.


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πŸ€“ TCS, Infosys, HCL hired 198,000 employees in FY22 amid robust growth, alarming attrition


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- Confucius


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Musk buys Twitter πŸ’°, Zomato CEO joins UC board πŸ™‹πŸ», Top banks on UPI for crypto πŸ€•

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