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Stripe Inc. (Image: Shutterstock) Digital payments firm Stripe has hired Wall Street banks Goldman Sachs and JP Morgan to explore a public listing and alternatives to allow employees to cash out stakes in the private company, two sources familiar with the matter told Reuters. The move, communicated to Stripe employees in an internal memo earlier on Thursday, would give them an opportunity to sell shares in the company either to private investors or in a public market, the sources said. Either possibility would address the problem that some employee share options are coming up for expiry but Stripe shares are not currently listed. The aim is to have one arrangement or the other in place within a year, the sources said, adding that if private sales are arranged the buyers will cover tax costs. A 2021 round of fundraising valued Stripe at $95 billion, but the sources said the company had recently cut its own assessment of its value to $65 billion. Read More … [Read more...] about Stripe hires Goldman, JP Morgan to explore listing and private share sale

An Air India aircraft. Top officials from aircraft manufacturer Boeing, and engine suppliers General Electric Aviation and CFM International will meet officials from Tata Sons and Air India in Mumbai on January 27, sources said. While the first two are American companies, CFM International is a 50:50 Franco-American joint venture between GE Aviation and Safran Aircraft Engines. "There is a closed-door meeting today in Mumbai between Natarajan Chandrasekaran, Campbell Wilson, Stanley Deal, François Planaud, Tom Levin, Salil Gupte, Ahmed Elsherbini, and other top officials from GE and CFM International," an airline official said. Natarajan Chandrasekaran is the Chairman of Tata Sons. Campbell Wilson is the CEO and MD of Air India, and Stanley Deal is the CEO of Boeing Commercial Airplanes. François Planaud is the Executive Vice-President, Support and Services, at Safran Aircraft Engines, and Tom Levin is the Vice-President, After Market Strategic Solutions, at GE … [Read more...] about Boeing, GE, CFM International meeting Air India officials today: Sources

Ritesh Agarwal is set to tie the knot in March Ritesh Agarwal, founder and CEO of hospitality chain OYO, is all set to get married. The 29-year-old entrepreneur will tie the knot in March this year. Ritesh Agarwal’s wedding will be followed by a reception at a 5-star hotel in the national capital Delhi. Agarwal was born to a Marwari family in Odisha and moved to Delhi in 2011 for college. He dropped out of college after two years and was accepted into the Thiel Fellowship program. As one of the winners of the Fellowship, he received a grant of $100,000 which was used to launch OYO in May 2013. In 2019, he had joked that his mother was worried about his matrimonial prospects, given that he did not have a college degree. “My mom is surely worried that the fact that I don’t have a college degree will impact my chances of finding a bride,” Agarwal had jokingly said during an interview with the Financial Times. … [Read more...] about Wedding bells for OYO founder Ritesh Agarwal

Santosh Iyer, the newly-appointed MD and CEO of Mercedes-Benz India, sparked a debate in November when he said that systematic investment plans (SIPs) are the luxury car brand’s biggest competitor in the country. He has now clarified that his remarks were made in the context of luxury market growth. “The statement made was in the context of the luxury market growth, what will happen in three to five years’ time,” Iyer told Moneycontrol in an interview . In November, Iyer, who was then the sales and marketing head of Mercedes-Benz India, had told Times of India that SIPs in mutual funds were eating into luxury car sales in India. If a potential customer diverted Rs 50,000 into buying a luxury car instead of investing through SIPs, the luxury car business would “explode,” Iyer had said. “The context of the discussion is that there are a couple of factors to change,” he clarified in a January interview with Moneycontrol. These factors, he said, included the fact that the … [Read more...] about Mercedes-Benz India CEO clarifies why ‘SIPs are competition’. Here is what he said