From Jensen Huang's position as the CEO of Nvidia, to why Vikas Malpani thought he would feel like he had won when Quikr bought CommonFloor in 2016, here are the latest developments across sectors.
Jensen Huang's position as the CEO of Nvidia looks increasingly uncertain with new details of extra-marital affairs emerging. The board is meeting soon to decide whether to oust him from the company he co-founded in 1993, according to reports.
Reports say Jensen had another extramarital affair with a senior executive of Nvidia. This is in addition to the relationship he had with a Chinese national Alice Huang, who was allegedly recruited as an intelligence asset by the Chinese government.
Vikas Malpani founded CommonFloor in 2007 with Sumit Jain and Lalit Mangal. In January 2016, Quikr announced it was merging the portal with QuikrHomes, its real estate business. The companies did not disclose the financial terms. Business Standard reported the deal was worth $200 million, while Malpani put the figure at more than $200 million in his LinkedIn post. All three co-founders left CommonFloor about a year after the acquisition.
The acquisition came as investors were growing wary of startups burning through cash and Indian tech companies were buying smaller rivals to expand their businesses. Quikr struck two deals in 2015 and seven in 2016, according to VCCEdge data. CommonFloor gave it a bigger presence in online property listings, while another purchase that year, Grabhouse, helped it expand into managed rentals. Quikr also bought recruitment portal Hiree and folded it into QuikrJobs.
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