iWorld
Gaana CEO Prashan Agarwal steps down
KOLKATA: Gaana CEO Prashan Agarwal has stepped down after heading the music streaming service for five years.
“After an amazing five years of leading Gaana to be the No. 1 Music streaming service in India, I am stepping down from my role as CEO and am extremely grateful to my wonderful colleagues, music industry partners and investors who put so much trust and empowerment in enabling me to deliver,” Agarwal wrote in a LinkedIn post.
He thanked his mentors Satyan Gajwani and Vineet Jain for providing him with a platform to make such a remarkable impact on the Indian music ecosystem and bringing entertainment to more than 185 million users across the world.
Gaana is jointly owned by Times Internet (the majority stakeholder), and Tencent, which raised Rs 3.75 billion in debt last year to help finance the company’s growth.
Agarwal joined Gaana as CEO in May 2016. Before joining Times Internet, he co-founded multiple internet ventures including 19miles.com and PropTiger.com. He is an alumnus of IIT Kanpur and the Indian School of Business.
e-commerce
American Express to acquire AI startup Hyper to boost automation
Deal targets expense management as AI reshapes corporate spending tools.
MUMBAI: From receipts to robots, the expense sheet is getting a brain upgrade as American Express moves to bring artificial intelligence into the heart of corporate spending. The company has announced plans to acquire Hyper, a relatively young but fast-rising startup founded in 2022 that builds AI-powered agents capable of organising expenses, generating reports, verifying compliance with budgets and policies, and nudging users with timely reminders. The deal, expected to close in the second quarter of 2026, underscores a growing shift among financial institutions to automate traditionally manual, time-heavy workflows.
Hyper counts Sam Altman among its backers, adding a layer of Silicon Valley credibility to the acquisition. While financial details remain undisclosed, the strategic intent is clear: deepen automation capabilities and sharpen American Express’s position in the competitive corporate spending ecosystem.
The two companies are not strangers. They previously collaborated in 2024 on a co-branded credit card product, suggesting that the acquisition is less a cold buy and more an extension of an existing relationship. With this move, American Express is effectively bringing that capability in-house, aiming to embed AI directly into its commercial services stack.
Chief executive Stephen Squeri had already signalled the direction of travel in a recent shareholder letter, describing AI as a “structural shift” in how businesses operate. The Hyper acquisition appears to be a direct response to that shift, particularly in expense management, where processes such as approvals, compliance checks and reporting remain ripe for automation.
Alongside the acquisition, the company is also expanding its product suite. A recently launched business credit card offers cashback and benefits at an annual fee of $295, with another card expected later this year moves that complement its broader push into commercial services.
Taken together, the strategy points to a future where managing expenses may require fewer spreadsheets and more algorithms. For American Express, the bet is simple, if businesses are rethinking how work gets done, the tools that power that work need to evolve just as quickly.
