When A Founder Part Ways With His Legacy

9 years

What is it? The number of years after which Jan Koum will be leaving WhatsApp, the instant messaging platform he co-founded and sold to Facebook in 2014.

Why is it important? Koum’s departure from Facebook, as well as its board of directors, comes in the wake of the social media giant coming under fire for its privacy policies. A strident advocate of user privacy, Koum has reportedly had differences with the company over the issue. Co-founder Brian Acton left Facebook in September 2017.

Tell me more: Before it was sold to Facebook for $19 billion, WhatsApp raised a total of $60.3 million in capital via three rounds—one of the best capital-to-return ratio delivered by a startup.

Rs 94.3 crore

What is it? The theatre collections of Marvel superhero film Avengers: Infinity War in its opening weekend in India.

Why is it important? This is the best opening by any foreign film in India. The previous best was the 2017 film The Fate of the Furious, which made Rs 51.2 crore. The first weekend collections of Avengers: Infinity War are also higher than all Hindi films released in India this year.

Tell me more: Avengers: Infinity War has also smashed global records in opening weekend collections, a list that is dominated by superhero, science fiction and action films.

Rs 1,124 crore

What is it? Kotak Mahindra Bank’s net profit in the fourth quarter of 2017-18 on a standalone basis.

Why is it important?Although this is an increase of over 15% from Rs 976 crore posted in the same period a year ago, its profits have missed some analyst estimates. The increase in its net profit in the last quarter was due to higher net interest and fee incomes on the back of a 25% growth in its loan book in addition to a fall in its bad loans.

Tell me more: India’s fifth-largest private lender and the second-most valuable bank has the highest net interest margin in the industry, of 4.35%.

4 years

What is it? By 2022,the Indian government may reportedly ask firms hosting data of Indians to set up servers in the country, under the new National Telecom Policy.

Why is it important?This policy aims to provide access to all kinds of services, including those of government, education and health, online. This would generate lots of data and, hence, the likely prompt to set up servers locally. There have been concerns about misuse of servers abroad in terms of backdoor access to data and surveillance by countries and companies where they are located.

Tell me more: The Indian government has reportedly asked Internet firms such as Facebook and Google to set up servers in India and it is likely to force foreign smartphone companies to do the same.

$76.2 billion

What is it? India’s engineering exports in 2017-18, up 17% from $65.2 billion in 2016-17.

Why is it important? Engineering exports, which account for about a quarter of India’s total merchandise exports, hit a record high last fiscal. However, Indian engineering exports are threatened by growing protectionism in the world, rising import tariffs in the backdrop of the US action on steel and aluminium, and the latter’s complaint in the World Trade Organization against India with respect to various export promotion schemes.

Tell me more: The increase in Indian engineering exports has been mainly attributed to the steel sector, where the United States continues to be the top market.

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