US Inflation Surges📈, Buffet's HP Move💼

Swiggy's Profit Ambitions, WhatsApp's New Tool, AI in Marketing, Funding Deals and more.

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Sep 14, 2023

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Tech Updates

🤖 AI in Marketing: Great Potential, Limited Impact 📢
- Despite the buzz around artificial intelligence (AI) in marketing, it's yet to make a significant impact. CXOs are more focused on revamping marketing strategies to measure the direct impact of advertising expenditures. 🤝💼
📊 Buffett's Berkshire Hathaway Reduces HP Stake 💼
- Warren Buffett's Berkshire Hathaway trims its stake in HP, selling approximately 5.5 million shares, reducing its ownership from 12.2% to 11.7%. The sale amounts to about $158 million, leaving Berkshire with a holding valued at roughly $3.27 billion. 📈💰
📢 WhatsApp Unveils Broadcast Tool Channels 📲
- Meta's WhatsApp has introduced WhatsApp Channels, offering private updates from organizations, sports teams, artists, and influencers that users can follow. Notable figures like the Indian cricket team, Katrina Kaif, Akshay Kumar, and more have launched their WhatsApp Channels, bringing personalized content to users in India and over 150 countries. 🤳🌟
🛒 Swiggy Sets Profit Target for Instamart 📈
- Swiggy is aiming to achieve profitability for its grocery delivery unit, Swiggy Instamart, by March 2024. The success of Instamart is seen as a key factor in Swiggy's plans for an initial public offering (IPO) in August- September 2024. Swiggy's foray into the grocery delivery sector is poised to become a significant part of its overall business strategy. 🍏🏪
📈 US Inflation Hits 3.7% in August 🇺🇸
- In August, US consumer prices saw their most significant increase in 14 months, primarily due to a surge in gasoline costs. The Consumer Price Index (CPI) rose by 3.7% over the 12 months through August. This rise was primarily driven by a 10.6% increase in gasoline prices, contributing to over half of the CPI's overall increase. However, underlying inflation recorded its smallest annual rise in nearly two years. 📊💰

Leads Connect, a full-stack agritech startup, has raised Rs 500 crore ($60.2 million) from FMCG company BL Agro Industries Ltd.
India Resurgence Fund (IndiaRF), an India-focused investment platform, has invested Rs 525 crore in Ivy Health and Life Sciences Pvt Ltd (Ivy). Following the investment, IndiaRF has become the majority shareholder of Ivy.
Deep-tech hardware startup ThinkMetal has raised $300,000 in a pre-seed funding round led by 100X.VC with participation from SAT Industries, KRS Jamwal and Uday Sodhi.

Funding Deals💰