Zomato Shuts its UK, Singapore Businesses
Food delivery firm Zomato has closed two of its overseas subsidiaries – Zomato UK Limited (ZUK) in the UK and Zomato Media Private Limited (ZMPL) in Singapore – according to a stock exchange filing.
The recently listed firm is shutting international subsidiaries that don’t contribute to its business as part of its ‘cleaning-up’ exercise. The company has noted that both the entities did not have any active business operations and their strike-off would not have any impact on the company’s turnover or revenue. In August, Zomato shuttered its US subsidiary and sold its stake in Nextable Inc for $100,000.
Zomato once saw its international operations as a key growth area, but revenues from overseas comprise a tiny portion of its earnings. According to quarterly earnings report, filed in August, out of its Rs 844.4 crore operational revenue, the company earned Rs 806 crore from India, Rs 31 crore from UAE, and the rest from other markets.
HPE Wins $2 Billion HPE GreenLake Contract with National Security Agency
Hewlett Packard Enterprise has been awarded a $2 billion contract, which will be leveraged over a 10 year period, with the US-based National Security Agency (NSA) to deliver HPE’s high performance computing (HPC) technology as a service through the HPE GreenLake platform.
The new collaboration will enable the NSA to harness rapidly growing AI and data needs more efficiently to create insights and other forecasting and analysis with optimal performance. By using HPE’s HPC solutions through the HPE GreenLake platform, which provides fully managed, secure cloud services on-premises, the NSA will benefit from an agile, flexible, and secure platform to meet their growing data management requirements.
As part of the HPE GreenLake service, HPE will build and manage the complete solution that will be hosted at a QTS data center, a hosting facility that delivers secure, compliant data center infrastructure and robust connectivity to support scaling of operations. The new service will go into use starting in 2022.
Lowe Lintas appoints Kedar Teny as CEO
Advertising agency Lowe Lintas has appointed Kedar Teny as its CEO. Teny moves from – Avataar.me – a visual discovery platform, where he served as Senior Vice President and Country Head.
Spanning a little over two decades, Teny’s career is a blend of advertising and marketing. He first joined Lintas in 1999 and built his decade-long career in advertising. While at Lintas, he led account management and strategic planning functions for key businesses in multiple geographies across India and SEA. Later, he held senior marketing and business leadership roles across blue chip organizations such as Airtel, HUL, McDonalds and Sony Entertainment Television. He has also shaped early-stage startups such as Tilt Brand Solutions and Avataar.me.
