Amazon acquires MX Player ▶️

Jun 07, 2024

Hello and welcome to Friday’s edition of Rise & Shine!

"The only limit to our realization of tomorrow is our doubts of today."
- Franklin D. Roosevelt

Today’s quote reminds us of the importance of overcoming self-doubt to achieve our future potential.

Amazon acquires video streaming platform MX Player

Amazon has agreed to acquire MX Player as part of its strategy to expand its portfolio in India’s thriving market for video streaming services. MX Player will add to Amazon's existing video services like Prime Video and MiniTV. The US technology giant is expected to retain the MX Player brand post the acquisition.

Hero MotoCorp invests Rs 124 Cr in Ather Energy, now controls nearly 42% stake

Hero MotoCorp has approved the purchase of an additional 2.2% stake in the electric scooter maker Ather Energy for about Rs 124 crore (approximately $15 million). In December, Hero MotoCorp acquired a 3% stake in Ather Energy for Rs 140 crore ($16.8 million). With the latest investment, Hero MotoCorp now controls nearly 42% holding in the Tarun Mehta-led company.

Policybazaar parent shares climb 5% amid block deal

Online insurance and credit aggregator PB Fintech’s share price jumped 5.2% to Rs 1,360 in Thursday's trade on the BSE, following a large block deal involving 33 lakh equity shares. Around Rs 428 crore worth of equity shares, representing a 0.73% stake in the company changed hands in this transaction. The deal was executed at an average price of Rs 1,297 per share, slightly above the stock's previous close of Rs 1,293.35. The buyers and sellers involved in the transaction remain undisclosed.

Wipro bags $500 million deal from US communications provider

IT major Wipro has bagged a five-year deal worth $500 million from a US-based communication service provider, the company said in a filing. As part of the deal, Wipro says it will provide managed services for some products and industry-specific solutions.

Clodura.AI, an innovator in AI-driven sales prospecting solutions, has raised $2 million in its pre-Series A funding round led by the Bharat Innovation Fund with additional backing from Malpani Ventures.
Digital marketing technology firm Maino.ai has raised Rs 15 crore (approximately $1.8 million) led by India Quotient Advisers LLP. Angel investors Karan Bedi, Janhavi Parikh, and other marquee investors have also joined the round.
Chennai-based skincare startup CHOSEN has raised $1.2 million in its seed round from friends and family. This funding follows an equity-free grant of $100,000 from Peak XV Partners as part of the SPARK program for women entrepreneurs.
Healthtech startup Docplix has raised Rs 1.2 crore in its bridge round led by Inflection Point Ventures.

💪🏻 Short Story: The Power of Belief

Sara had always dreamed of starting her own business, but doubts plagued her. Could she succeed?

One day, she decided to leap of faith and enrolled in a business course.

With each lesson, her confidence grew, and her doubts diminished.

Within a year, Sara launched her own company, which thrived beyond her wildest expectations.

She realized that her doubts had been the only barrier to her success.

As we wrap up this week, let Franklin D. Roosevelt's words inspire you to push past your doubts.

Believe in yourself and your dreams.

The only limits are the ones we impose on ourselves.

Feel free to share it with someone who could use a little inspiration. Let's pass on the good vibes and make someone's day!

Thanks for reading till the end!

Rise & Shine ☀