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PhonePe surpasses 600M users, expands its digital payment ecosystem
Mumbai: PhonePe has announced that it has crossed 600 million (60 crore) registered users on its platform, marking a significant milestone as the company approaches its 10 anniversary this year.
The digital payments and financial services provider attributes this achievement to its continuous innovation, enhanced service offerings, and a growing user base. By prioritising security, reliability, and speed in its payment system, PhonePe has strengthened customer trust and expanded its reach across India’s merchant network, fostering a comprehensive digital payments ecosystem for consumers and businesses alike.
PhonePe co-founder & CEO, Sameer Nigam stated, “Reaching 60 crore registered users is a proud moment for all of us at PhonePe. Every milestone brings us closer to realising our vision of building a truly inclusive financial ecosystem. We will continue developing homegrown solutions to meet the evolving needs of our users and support India’s digital transformation.”
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Buffett bets on The New York Times, cuts Amazon stake
Berkshire invests $352 million in NYT, trims tech, and backs insurance, energy and consumer stocks.
OMAHA: Warren Buffett is famously a creature of habit, but his latest portfolio shake-up suggests even the world’s most patient investor knows when to change the channel. In a move that has sent the media world into a frenzy, Berkshire Hathaway has officially checked into The New York Times while largely checking out of Amazon.
Buffett’s firm snapped up roughly 5.1 million shares in The New York Times Company, a stake valued at a cool $352 million. The Buffett effect was immediate: shares in the publishing giant jumped more than 10 per cent as investors scrambled to follow the leader.
While Buffett offloaded his traditional local newspapers back in 2020, this isn’t a nostalgic trip to the printing press. The New York Times is now a digital powerhouse, fueled by a buffet of subscriptions covering everything from breaking news to Wordle and recipes. It seems the sage of Omaha still has an appetite for businesses with pricing power and a loyal following.
Berkshire slashed its holdings in Amazon by nearly 75 per cent during the final quarter of the year. Once a rare foray into the world of big tech for Buffett, the firm now holds a relatively modest 2.3 million shares. The pruning did not stop there, as other household names also saw a haircut. Apple was reduced to a 1.5 per cent position, while Bank of America was trimmed to 7.1 per cent, signalling a broader pullback from some of its large financial and technology bets.
So, where is the money going? It appears Buffett is heading back to basics, favoring sectors that can weather a storm. Berkshire boosted its positions in Chubb, doubling down on the steady world of insurance; Chevron, fueling up on energy; and Domino’s Pizza, a classic consumer bet that delivers even when the economy doesn’t.
By pivoting toward resilient industries and subscription-heavy media, Berkshire is returning to its roots: finding companies that people simply cannot live without, whether they are hungry for a slice of pepperoni or the morning headlines.
