Top related persons:
Top related locs:
Top related orgs:

Search resuls for: "Mehta"


25 mentions found


Watch CNBC's full interview with Instacart founder Apoorva Mehta
  + stars: | 2023-09-20 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Instacart founder Apoorva MehtaApoorva Mehta, Instacart founder, joins 'Squawk Box' to discuss the company's IPO offering, how he came up with the idea of Instacart, why the company didn't go public earlier when valuation was higher, and more.
Persons: Apoorva Mehta Apoorva Mehta
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInstacart founder Apoorva Mehta on IPO: Excited to see what the company does in the futureApoorva Mehta, Instacart founder, joins 'Squawk Box' to discuss the company's IPO offering, how he came up with the idea of Instacart, why the company didn't go public earlier when valuation was higher, and more.
Persons: Apoorva Mehta
Instacart went public on Tuesday after raising $924 million in its IPO. Many of Instacart's executives, founders, and investors stand to make millions. Instacart's cofounder Apoorva Mehta and CEO Fidji Simo's stakes are worth $1.2 billion and $21.6 million. After a long lull in the IPO market, Instacart has jumped in as one of the first companies to break the tech IPO drought of the past two years and go public. This story is available exclusively to Insider subscribers.
Persons: Instacart, Apoorva Mehta, Fidji, Brandon Leonardo, Max Mullen, Fidji Simo Organizations: Instacart's
Instacart shares rose 12% in their Nasdaq debut on Tuesday after the grocery delivery company's long-awaited IPO. The stock initially popped 40% to open at $42, but closed at $33.70 as investors locked in their initial gains. At $11.2 billion, Instacart is valued at about 3.9 times annual revenue. Food delivery provider DoorDash , which Instacart named as a competitor in its prospectus, trades at 4.1 times revenue. Uber's stock trades for less than three times revenue.
Persons: Instacart, Andreessen Horowitz, Rowe Price, company's Uber, Fidji Simo, CNBC's Deirdre Bosa, It's, Brandon Leonardo, Maxwell Mullen, Apoorva Mehta Organizations: Nasdaq, Software, Kroger, Costco, Sequoia, Fidelity, Target, Walmart Locations: Tuesday's, U.S, Amazon
The IPO gave Instacart a valuation of nearly $9.9 billion, a fraction of the $39 billion it was worth in 2021, the company's last funding round. Reuters GraphicsSeveral startups' valuations have shrunk since 2022 as inflation, geopolitical tensions and the Federal Reserve's rapid rate hikes soured the economic climate. But a lukewarm reception to Neumora Therapeutics' (NMRA.O) IPO last week hinted at limited investor enthusiasm for new listings. Arm soared on its first day of trading but has dropped every day since then. Goldman Sachs and J.P. Morgan are the lead underwriters for Instacart's IPO.
Persons: Eric Cohn, Cheney Orr, Hogan, Riley, Instacart, Apoorva Mehta, Fidji Simo, Goldman Sachs, J.P, Morgan, Niket, Noel Randewich, Devika Syamnath, Anil D'Silva, Nick Zieminski, Richard Chang Organizations: Safeway, REUTERS, Nasdaq, SoftBank's Arm, San, Maplebear Inc, Reuters, Federal, Investors, Neumora Therapeutics, Instacart's, Thomson Locations: Tucson , Arizona, U.S, San Francisco, Bengaluru, Oakland , California
Mehta was replaced as CEO of Instacart in July 2021 following a messy dispute with some of the company's largest investors. Instacart Founder Apoorva Mehta in his 2003 yearbook photo from Westdale Secondary School. The app started gaining momentum and Mehta put out ads on Craigslist for shoppers to do the grocery runs for him. Whole Foods reportedly broke the news to Mehta and a fellow Instacart executive on an early morning call. In a sworn affidavit, Mehta denies that he misappropriated any trade secrets and says he's since cut ties with Singh.
Persons: Apoorva Mehta, Mehta, Safeway Mehta, Hamilton Public Library Mehta, Bing Gordon, Kleiner Perkins, Gordon, he'd, Garry Tan, Tan, Garry, Andreessen Horowitz, catapulting Mehta, Forbes, Instacart, Mike Moritz, Fidji Simo, Simo, That's, Mehta's, he's, Tejasvi, Singh, Sam Bankman, NextMed, it's Organizations: Instacart, Safeway, Westdale Secondary, Hamilton Public Library, The University of Waterloo, Amazon, NPR, Electronic Arts, YC, TechCrunch, Sequoia Capital, Khosla Ventures, Forbes, Foods, Costco, Kroger, Facebook, Sunrise Locations: India, Libya, Hamilton , Ontario, Toronto, Seattle, San Francisco, wallowing, Sequoia, Mehta's, Marin County
REUTERS/Arnd Wiegmann/File PhotoWASHINGTON (Reuters) - The U.S. Justice Department on Monday questioned a Verizon executive about the company’s decision to always pre-install Google’s Chrome browser with Google search on its mobile phones, as the government sought to show that Alphabet’s Google broke antitrust law to maintain its dominance in online search. Antonio Rangel, who teaches behavioral biology at the California Institute of Technology, testified last week that people are likely to stick with defaults like search engines or map apps on computers and mobile phones. In response, Google lawyer John Schmidtlein showed the court data indicating that users happily stick with Google’s search engine when pre-installed on their devices but switch away from others they like less. Companies have defended themselves by emphasizing that their services are free, as in the case of Google, or inexpensive, as in the case of Amazon.com. He may decide simply to order Google to stop practices he has found to be illegal or he may order Google to sell assets.
Persons: Arnd, Brian Higgins, , Google’s, James Kolotouros, Antonio Rangel, John Schmidtlein, Trump, Judge Amit Mehta Organizations: REUTERS, WASHINGTON, U.S . Justice, Verizon, Google, California Institute of Technology, Companies Locations: Zurich, Switzerland, Washington, California, U.S
Instacart, the grocery-delivery company that saw its business boom during the pandemic, priced its long-awaited IPO at $30 a share on Monday, and will become the first notable venture-backed tech company to hit the U.S. public market since December 2021. There were 22 million shares sold in the initial public offering, with 14.1 million coming from the company and 7.9 million from existing shareholders. Instacart co-founder Apoorva Mehta owns shares worth over $800 million, and is selling a small portion of them in the IPO. The company said co-founders Brandon Leonardo and Maxwell Mullen are each selling 1.5 million, while Mehta is selling 700,000. Former employees, including those who were in executive roles as well as in product and engineering, are selling a combined 3.2 million shares.
Persons: Instacart, Andreessen Horowitz, Rowe Price, Apoorva Mehta, Mehta, Fidji Simo, Simo, Goldman Sachs, JPMorgan Chase, Brandon Leonardo, Maxwell Mullen Organizations: Nasdaq, Kroger, Costco, Sequoia, Fidelity, Target, Walmart, Facebook, JPMorgan Locations: Amazon
Ather electric scooters are seen outside the showroom in Mumbai, India, January 28, 2022. India's electric scooter market is small but growing, with e-models accounting for 5% of total scooter and motorcycle sales in the last fiscal year against a government target of 70% by 2030. "The transition to electric vehicles could have been faster if not for the (subsidy) change but even then, there will be no major impact in the mid to long term," he said. Valued at around $750 million, Ather will raise more money before the end of 2023 to back its growth plans, he said, without giving more details. "India will not only be the largest market in the world for electric two-wheelers but also the largest exporter," he said.
Persons: Francis Mascarenhas, Tarun Mehta, Mehta, Ather, Electric, Hero MotoCorp, Aditi Shah, Kirsten Donovan Organizations: REUTERS, Rights, Ather, Reuters, Softbank, TVS, Thomson Locations: Mumbai, India
MUMBAI, Sept 18 (Reuters) - Three years ago an inquisitive American tourist wandered into a waterfront slum in Mumbai and met a tiny, smiley girl. In March, a luxury Indian cosmetics brand Forest Essentials chose Maleesha as the face of its Yuvati campaign celebrating young Indian women. [1/5]Maleesha Kharwa, 15, a model and Instagram Influencer, takes a selfie next to a bus terminal in Mumbai, India, September 11, 2023. Since then, Maleesha has become a social media influencer, using the hashtag 'the princess from the slum' in some of her posts. Reporting by Hemanshi Kamani, writing by Tanvi Mehta; Editing by Simon Cameron-MooreOur Standards: The Thomson Reuters Trust Principles.
Persons: Kharwa, Maleesha, Influencer, Hemanshi, Robert Hoffman, Hoffman, Hemanshi Kamani, Tanvi Mehta, Simon Cameron, Moore Organizations: Cosmopolitan India, REUTERS, Thomson Locations: MUMBAI, Mumbai, India, American
The government’s case is not that Google violated the law in becoming a search giant. Instead, the government claims that after Google became dominant, the company broke the law with its tactics to defend its monopoly. Google replies that the government’s case is an artifice of misleading theory unsupported by the facts. Those truths, according to Google, are that the company holds its leading position in search because of its technical innovation. Those contracts, Google argues, help reduce prices for smartphones and benefit consumers.
Persons: ” John Schmidtlein, Google’s, Brian Higgins, Amit P, Mehta Organizations: Google, Justice Department, Verizon
People walk next to a VinFast logo on a screen during the press day at the Los Angeles Auto Show in Los Angeles, California, U.S. November 17, 2022. REUTERS/Mike Blake/File Photo Acquire Licensing RightsSept 18 (Reuters) - Vietnamese electric-vehicle maker Vinfast said on Monday it delivered 9,535 vehicles in the second quarter, recording a more than fivefold jump from the first quarter. Vinfast's blockbuster debut on Wall Street in August saw its shares more than triple in value, but the company's small amount of publicly available shares has made the stock prone to volatility. Its shares have fallen about 53% since debut and lost 2.17% to $17.15 in premarket trading on Monday. Reporting by Chavi Mehta in Bengaluru; Editing by Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.
Persons: Mike Blake, Vinfast, Chavi Mehta, Devika Organizations: Los Angeles Auto, REUTERS, Thomson Locations: Los Angeles , California, U.S, Bengaluru
Brochures are seen at a branch of Axis Bank in Mumbai, India, January 22, 2018. REUTERS/Danish Siddiqui/File photo Acquire Licensing RightsNEW DELHI, Sept 15 (Reuters) - The co-CEO of Axis Bank's (AXBK.NS) investment banking unit Axis Capital, Chirag Negandhi, has resigned, according to an internal memo seen by Reuters on Friday. The investment bank will likely tap an outside candidate for Negandhi's role, two sources with direct knowledge of the matter told Reuters. Axis Capital named another co-Chief Executive Salil Pitale as the interim managing director and CEO, as per the memo. Negandhi spent more than 13 years at the Axis' investment banking unit and would continue for three more months, the source added.
Persons: Danish Siddiqui, Salil Pitale, Negandhi, Sriram Mani, Tanvi Mehta, Sethuraman, Shweta Agarwal Organizations: Axis Bank, REUTERS, Danish, Capital, Chirag Negandhi, Reuters, Axis Capital, Cyient DLM, Mankind Pharma, Bikaji, Thomson Locations: Mumbai, India, DELHI, Axis
An illuminated Google logo is seen inside an office building in Zurich, Switzerland December 5, 2018. Rangel discussed how consumers were likely to stick with browsers on computers and mobile phones that were pre-installed as the default application. John Schmidtlein, a lawyer for Google, during cross-examination of Rangel, pointed out that a significant number of user search queries went to Google even when another search engine was the default. Google's clout in search, the government alleges, has helped Google build monopolies in some aspects of online search advertising. Search is free, so Google makes money through advertising.
Persons: Arnd, Antonio Rangel, Rangel, John Schmidtlein, Judge Amit Mehta, Diane Bartz, Mark Potter, Richard Chang Organizations: REUTERS, Rights, Justice Department, California Institute of Technology, Apple, Mozilla, Google, Big Tech, Microsoft, Thomson Locations: Zurich, Switzerland, U.S
Google's antitrust trial is in full swing. However, one expert testified that switching from Google to Bing on an Android 12 was a 10-step process. Chris Barton, who worked for Google from 2004 to 2011, testified that he made it a priority to negotiate for Google to be the default search engine on mobile devices. He said he acquired an Android 12 phone and studied the process required to replace the Google search engine with Bing; it took 10 steps. Barton, however, testified that Google wasn't the only search engine seeking default status with phone companies.
Persons: Bing, Chris Barton, Antonio Rangel, Rangel, Barton, Microsoft's Bing, Trump, Judge Amit Mehta, Sundar Pichai, Larry Page, Eddy, Hal Varian Organizations: Google, Service, U.S . Justice Department, California Institute of Technology, Bing, Yahoo, Verizon, Justice Department, Inc, Apple Locations: Wall, Silicon, WASHINGTON, Germany, Austria, , California
First out of the gate, the government questioned a former Google executive, Chris Barton, about billion-dollar deals with mobile carriers and others that helped make Google the default search engine. Google's clout in search, the government argues, has helped Google build monopolies in some aspects of online search advertising. In revenue-sharing deals with mobile carriers and Android smartphone makers, Google pressed for its search to be the default and exclusive. If Microsoft's search engine Bing was the default on an Android phone, Barton said, then users would have a "difficult time finding or changing to Google." Barton said on his LinkedIn profile that he was responsible for leading Google's partnerships with mobile carriers like Verizon (VZ.N) and AT&T, estimating that the deals "drive hundreds of millions in revenue."
Persons: Chris Barton, Barton, Bing, Hal Varian, John Schmidtlein, Judge Amit Mehta, Mehta, Diane Bartz, Nick Zieminski, Richard Chang, Howard Goller Organizations: Justice, Google, Inc, Apple, Mozilla, Verizon, Big Tech, Microsoft, Thomson Locations: U.S
The company logo is pictured on a Tesla Model X electric car in Berlin, Germany, November 13, 2019. REUTERS/Fabrizio Bensch/File Photo Acquire Licensing RightsCompanies Tesla Inc FollowNEW DELHI, Sept 13 (Reuters) - Tesla Inc (TSLA.O) plans to source components worth $1.7-$1.9 billion from India this year, the commerce minister said on Wednesday, amid plans by the electric vehicle maker to set up a factory in the country. "Tesla last year already bought $1 billion worth of components from India... this year their target is $1.7-$1.9 billion," Commerce Minister Piyush Goyal said at an auto conference. "I am convinced that this (EVs) is the future. Reporting by Aditi Shah, writing by Tanvi Mehta; editing by Jason NeelyOur Standards: The Thomson Reuters Trust Principles.
Persons: Fabrizio Bensch, Tesla, Piyush Goyal, Aditi Shah, Tanvi Mehta, Jason Neely Organizations: Tesla, REUTERS, Tesla Inc, Reuters, Thomson Locations: Berlin, Germany, DELHI, India
Chris Barton, who was at Google from 2004 to 2011, said that the company was quick to see the advantage of people using Google search on Palm devices and early versions of smartphones. "As we recognized the opportunity for search on mobile phones we began to build a product team," he said. Dintzer also said that Google manipulated auctions for internet ads in order to raise prices for advertisers. Since search is free, Google makes its money via advertising. He may decide simply to order Google to stop practices he has found to be illegal or he may order Google to sell assets.
Persons: Chris Barton, Barton, Department's Kenneth Dintzer, Dintzer, John Schmidtlein, Hal Varian, Amit Mehta, Diane Bartz, Nick Zieminski Organizations: Justice Department, Google, Verizon, AT, DOJ, Justice, Apple, Mozilla, Big Tech, Microsoft, Thomson
WASHINGTON (AP) — The U.S. Justice Department pressed ahead with its antitrust case against Google Wednesday, questioning a former employee of the search engine giant about deals he helped negotiate with phone companies in the 2000s. Chris Barton, who worked for Google from 2004 to 2011, testified that he made it a priority to negotiate for Google to be the default search engine on mobile devices. Google counters that it dominates the internet search market because its product is better than the competition. And Barton testified that Google wasn't the only search engine seeking default status with phone companies. Google has emerged as the dominant player in internet searches, accounting for about 90% of the market.
Persons: Chris Barton, Barton, Microsoft's Bing, Trump, Judge Amit Mehta, Sundar Pichai, Larry Page, Eddy, Hal Varian, ____ Michael Liedtke Organizations: WASHINGTON, U.S . Justice Department, Google, Yahoo, Verizon, Justice Department, Inc, Apple Locations: U.S, , California
A worker switches on a fuel pump before filling a car with diesel at a fuel station in New Delhi September 13, 2012. REUTERS/Mansi Thapliyal/File photo Acquire Licensing RightsNEW DELHI, Sept 12 (Reuters) - India's road transport minister, Nitin Gadkari, on Tuesday said he will propose an additional 10% tax on diesel vehicles and warned automakers of even higher levies to cripple their ability to sell such high-polluting vehicles. Gadkari said he will later in the day ask the finance minister for an "additional 10%" goods and services tax on diesel vehicles to tackle problems related to pollution. The Indian government currently imposes a 28% tax on diesel cars and an additional so-called "cess" is levied depending on the vehicles' engine capacity. Shares in Indian automakers Tata Motors, Mahindra and Mahindra, Ashok Leyland (ASOK.NS), and Eicher Motors (EICH.NS) fell between 1.5% and 4.5%.
Persons: Mansi, Nitin Gadkari, Gadkari, Maruti Suzuki, Ashok Leyland, Aditi Shah, Tanvi Mehta, Christian Schmollinger, Tom Hogue Organizations: REUTERS, New, Tata Motors, Mahindra, Maruti, Volkswagen, automakers Tata Motors, Eicher Motors, Thomson Locations: New Delhi, DELHI, India
The back-and-forth came in the federal government’s first monopoly trial since it tried to break up Microsoft more than two decades ago. If Google wins, it could act as a referendum on increasingly aggressive government regulators, raise questions about the efficacy of century-old antitrust laws and further embolden Silicon Valley. The Justice Department has filed a second lawsuit against Google over its advertising technology, which could go to trial as early as next year. The Federal Trade Commission is separately moving toward a trial in an antitrust lawsuit against Meta. Investigations remain open in efforts that could lead to antitrust lawsuits against Amazon and Apple.
Persons: Judge Amit P, Mehta, , Bill Baer, Biden Organizations: Microsoft, Google, U.S, District of Columbia, Justice Department, The, Federal Trade Commission, Meta, Amazon, Apple
Mr. Dintzer said that the Justice Department case was “built on documents that capture exactly” what Google did. The opening statement offered clues to how the Justice Department will paint the relationship between Google and Apple. Mr. Dintzer said that Google was insistent that it would not share revenue with Apple without “default placement” on its devices. Later, Mr. Dintzer said, Google worked to make sure that Apple couldn’t redirect searches to its Siri assistant product. “They turned history off, your honor, so they could rewrite it here in this courtroom,” Mr. Dintzer said.
Persons: Kenneth Dintzer, ” Mr, Dintzer, , Bing, Amit P, Mehta, Achilles, Google, Siri, Sundar Pichai, Organizations: Justice, Google, Apple, Justice Department, Yahoo, MSN
Consumers, Google's lawyers will argue, can delete the Google app from their devices or simply type Microsoft's Bing, Yahoo or DuckDuckGo into a browser to use an alternative search engine. They will argue that consumers stick with Google because they rely on it to answer questions and are not disappointed. In the first, Judge Amit Mehta will decide if Google has broken antitrust law in how it manages search and search advertising. If Google is found to have broken the law, Judge Mehta will then decide how best to resolve it. He may decide simply to order Google to stop practices he has found to be illegal or he may order Google to sell assets.
Persons: Bing, Amit Mehta, Judge Mehta, Diane Bartz, Jamie Freed Organizations: Google, The U.S . Justice, Apple Inc, Mozilla, Yahoo, Big Tech, Microsoft, Thomson Locations: United States, Washington, The
DOJ fights uphill battle; Google a losing one
  + stars: | 2023-09-12 | by ( Ben Winck | ) www.reuters.com   time to read: +5 min
The government, in its opening statements, argued that the $1.7 trillion company’s search engine partnerships illegally protected its monopoly, harming consumers. The problem for the DOJ is that consumers readily dole out their data, and not just to Google. Device manufacturers and browser creators choose Google because it’s the highest quality option, and users can easily pick another default search engine, John Schmidtlein, Google’s lead lawyer, argued. The government’s lawyers have their work cut out for them, but a DOJ loss won’t mean a Google victory. The company’s partnerships may set Google as the default search engine on devices and browsers, but users can usually change their default option with a few clicks.
Persons: General Merrick Garland, Jonathan Kanter, Kenneth Dintzer, Dintzer, Amit Mehta, John Schmidtlein, Google’s, DOJ doesn’t, Google's, Lauren Silva Laughlin, Sharon Lam Organizations: U.S . Justice, Alphabet's Google, Justice Department, Reuters, U.S . Department of Justice, Alphabet’s, Google, DOJ, Microsoft, Court, Big Tech, Alphabet’s Google, Thomson Locations: WASHINGTON
Nov 27, 2021; East Lansing, Michigan, USA; Michigan State Spartans head coach Mel Tucker looks down during the second quarter against the Penn State Nittany Lions at Spartan Stadium. Mandatory Credit: Raj Mehta-USA TODAY Sports/File Photo Acquire Licensing RightsSeptember 12 - Suspended Michigan State head coach Mel Tucker released a lengthy statement through his lawyer Monday afternoon defending himself against allegations that he sexually harassed a rape survivor. Tucker, 51, is in his fourth season as head coach of the Spartans. His overall record at Michigan State is 20-14 after a 5-7 season in 2022. Defensive backs coach Harlon Barnett will serve as Michigan State's interim head coach in Tucker's absence, with former coach Mark Dantonio assisting as an associate head coach.
Persons: Mel Tucker, Raj Mehta, Tucker, Brenda Tracy, Tracy, Ms, Gretchen Whitmer, Whitmer, Harlon Barnett, Mark Dantonio Organizations: Michigan State Spartans, Penn State Nittany Lions, Spartan, USA, Michigan State, USA Today, University, Michigan, MSU, Spartans, Thomson Locations: East Lansing , Michigan, USA, Michigan
Total: 25