ETtech

Layoffs in the tech sector hogged the headlines last year as businesses in the sector grappled with global macroeconomic headwinds after two years of a Covid bump up. We reported on December 30 last year, that the ongoing funding winterand business challenges faced by new-age internet companies resulted in nearly 18,000 job losses, according to data compiled by executive search firm Longhouse Consulting. ETtech Big tech firms such as Meta, Twitter, Amazon, Alphabet, and Microsoft announced en masse layoffs last…

From a string of crypto catastrophes to Elon Musk’s acquisition of Twitter, the biggest rout in technology stocks and a funding winter, 2022 did not lack drama. Grab a cuppa and sit back as we revisit the best explainers that ETtech Unwrapped delivered weekly to your inbox in a truly bonkers year for tech.Is Meta losing its way?In late June, Meta reported its first-ever yearly drop in revenue, the latest sign of trouble at the social media behemoth that has tethered its future to the fate of the metaverse, the theoretical…

Indian startups have had a torrid 2022, and it shows. In our annual survey on the state of homegrown startups, which took place during a crippling funding winter this year, 87% of respondents said they would not shy away from shutting down unviable businesses and restructuring their organisations. That’s a sea change from 2021, when ‘growth at any cost’ was the prevailing mantra.Also in this letter:■ Who's in, who's out? Revisit the top-level movements this year■ Platforms, experts wary of BIS guidelines for online…

Conserve cash, cut burn and turn profitable. This was the common refrain among India’s top founders, investors and internet executives in ET’s annual State of Startups survey. The poll, which sought responses from over 60 key people, comes amid one of the worst downturns for the technology industry globally. As companies tighten their belts, 64% of respondents said the funding crunch may ease in the second half of 2023, while 21% felt it could become worse; 14.8% said the environment will remain the same as this year.…

Tech startups have seen an uptick in investments of late but it's been a poor year overall, with funding down 35% from last year, according to a Tracxn report. This dip has been driven by a slump in late-stage funding, which is down 45%, the report said. This week, however, saw two large deals. Bengaluru-based ecommerce platform BigBasket raised $200 million from parent entity Tata Digital and others, while Data analysis company Tredence raised $175 million from Boston-based Advent International at a valuation of $500…