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This Week's Biz Glossary: 10 words you should know

Mar 20, 2021 16:12 IST | By Editorji News Desk

From NFT,SPAC to DFI here is the top 10 biz phrases that were in the news this week 

  1. NFT: Elon musk put this digital token centre stage as he literally danced to it’s tune on twitter which attracted a $1 million bid for the same. 

  2. Beeple: The $69 million art piece that put NFT’s centre stage was bought by a a Tamilian immigrant Vignesh Sundaresan, a blockchain entrepreneur based in Singapore, detailed his journey in a blogpost. 

  3. Stripe: If you have been following Editorji this week you would be familiar with Silicon Valley’s most valuable start-up Stripe. The fintech company has tripled its value in the last one year and commands a $95 billion price tag

  4. SPAC: These special purpose acquisition company are the latest trend for the IPO route and as Wall Street sets new records the market is on fire. SPAC mergers in just the first three months of 2021 have totalled over $164 billion

  5. Roblox: Talking of IPO frenzy this popular gaming platform company in the US debuted just a week ago now commands a $38 billion valuation. Roblox lets it’s 32.6 million daily active users,  to create and share entire games. 

  6. Nazara: Gaming took centre stage in India this week as well as this Rakesh Jhunjhunwala backed company opened up it's IPO and became the second-most subscribed issue so far this year with the issue subscribed 175 times. 


  7. Scrapping: After much a wait the Nitin Gadkari announced the govt's vehicle scrappage policy which entails a regime of Fit or Fail fitness tests and higher registration fees in a push to get older, polluting cars off the roads. 
  8. DFI: The budget proposal of a development finance institution (DFI) got cabinet nod and is ready with a target of Rs 3 lakh crore to fill the gap in infra funding but sceptics point out the failed mission of IFCI, IDBI and ICICI all of whom started out this way 
  9. Taper Tantrum: As the US 10 year bond yield surged to pre-pandemic levels this week giving Wall Street pundits ha deja vu of the 2013 episode when the Fed started to unwind it's cheap money policy.

  10. Technoking: Yes it's Elon Musk again, this week the eccentric billionaire took the stage not only for his NFT song but also his new title. All hail the "Technoking" of Tesla, the company filed for an official title for it's founder and also Master of the Coin for its CFO.