iWorld
Bharti Airtel set to acquire Loop for Rs 700 crore
MUMBAI: India’s largest cellular carrier, Bharti Airtel, is set to acquire small mobile operator Loop Mobile for about Rs 300 crore, according to reports. This would be the first merger in six years in an industry long seen as ripe for consolidation.
Loop, which operates only in Mumbai with about three million subscribers, was up for grabs as a potential acquisition as its spectrum licence lapses on 28 November.
If Bharti completes the acquisition it will overtake Vodafone India and become the market leader in terms of customer numbers, although not by revenue in Mumbai – which is one of the biggest cellphone markets in India.
The deal – if it happens – would also see Bharti take on Loop’s debt of nearly Rs 400 crore.
Industry consolidation has been slow to take place in the world’s second-largest cellular market due to challenging merger rules, including a new requirement that the buyer pay separately for the target company’s airwaves based on prices determined at an auction.
Loop Telecom, an associate company of Loop Mobile, lost its permits in 21 of India’s 22 teleco service areas after the Supreme Court order on the 2008 wireless permits. Loop has denied any wrongdoing.
Loop’s main investor is Dubai-based Khaitan Holdings, whose founders are related to the founding family of Indian conglomerate Essar Group. Essar owns over a per cent in Loop.
iWorld
Bluesky’s CEO Jay Graber steps down, Toni Schneider takes the helm
Graber moves to innovation role as interim CEO Schneider steers platform of 40m users
SEATTLE: Jay Graber, the driving force behind Bluesky, is stepping down as CEO and moving into the newly created role of chief innovation officer. Graber, who has been at the forefront of building the open social platform since 2019, leaves the day-to-day running to focus on new ideas and innovation.
Stepping in as interim CEO is Toni Schneider, former boss of Automattic and partner at True Ventures, who has been an advisor to Bluesky for the past two years. Schneider brings a wealth of experience in open platforms, having worked with WordPress, Yahoo’s developer network, and supported companies like Bandcamp.
Bluesky, created by Jack Dorsey as an alternative to Twitter, has grown into a thriving social network with over 40 million users. Its open AT Protocol allows users to own their data and identity, while developers can build apps on top of the platform. Schneider described Bluesky as “a real, scalable foundation for a different kind of internet.”
Graber praised the team she assembled, saying the platform’s success stems from matching people’s passions with their strengths. “Scaling up this company has been a learning experience unlike anything else,” she wrote in a blog post, adding that she is “excited to dig into the next frontier of what decentralized social can be.”
The board has begun a search for a permanent CEO, but for now, Schneider will guide Bluesky through its next chapter of growth, supporting the team, users, and developers alike.
Bluesky’s rise gained attention during the November 2024 exodus from X, formerly Twitter, when changes to the platform prompted users to look for alternatives. With Schneider now at the helm, the platform looks set to continue its journey as a user-focused, open social network.
