Meta’s Zuck Apologises, PB Fintech Roars In Q1 & More

Meta faced a challenging start to the year as CEO Mark Zuckerberg apologized for content moderation lapses on its platforms, including the removal of PM Narendra Modi's video. The controversy over child abuse content, deepfakes, and operational errors on Meta's platform has raised concerns about potential loss of safe harbor protections, which could expose the company to direct legal liability for user-generated content in India.

Meanwhile, WhatsApp users in the country experienced account issues, with some accounts being banned without clear reasons, causing frustration among many. The regulatory pressure on Meta extends beyond moderation mistakes, with the parliamentary panel directing the company to act against child sexual abuse material (CSAM) and content targeting women.

As a result, regulators are scrutinizing Meta's moderation model and its ability to prevent such issues in the future. On the fintech front, PB Fintech reported robust Q1 results, with profits growing 92% year-over-year to ₹163 Cr and revenue increasing 40% YoY to ₹1,888 Cr. The company's main growth driver, PolicyBazaar, saw a surge in online protection sales and stronger renewals.

PB Fintech's subsidiary, PaisaBazaar, also reported healthy momentum, with over 1.21 Cr transactions in Q1. Meanwhile, the B2B e-commerce unicorn OfBusiness is set to file its DRHP with SEBI by November for an $800 Mn IPO, targeting a valuation of up to $6 Bn. The company has experienced growth in its bottom line and improved margins since deferring its IPO plans last year.

In the electric mobility sector, River Mobility secured $120 Mn in its Series C round co-led by Elev8 Venture Partners and Claypond Capital. The startup plans to expand its manufacturing capacity and introduce new products, aiming to increase the number of stores to over 350 by March 2028. Finally, Freshworks reported a profitable Q1, with a net profit of $3.2 Mn, despite a short-term loss in the previous quarter.

The SaaS giant's AI products and growing client base contributed to a 16% YoY revenue increase to $237.4 Mn. Looking ahead, Freshworks has raised its full-year 2026 revenue guidance to $963.5 Mn-$966.5 Mn.