The judgement allows CCI to continue its investigation against the two marketplaces under Section 3 of the Competition Act which deals with anti-competitive agreements. The Confederation of All India Traders (CAIT) on June 12 urged the government to revisit the foreign direct investment norms for e-commerce players, a day after the Karnataka High Court allowed […]
The judgement allows CCI to continue its investigation against the two marketplaces under Section 3 of the Competition Act which deals with anti-competitive agreements. In what comes as a blow to e-tailers Amazon and Flipkart, the Karnataka High Court on June 11 dismissed their petition to quash the probe by Competition Commission of India (CCI). […]
In previous court sessions, Amazon and Flipkart had categorically denied any wrong doing. Competition Commission of India (CCI) can go ahead with a probe against Amazon and Flipkart for alleged anti-competitive practices, the Karnataka High Court said on June 11, a judgment that will have a bearing on India’s expanding e-commerce space. It all started […]
The Karnataka High Court on June 11 is expected to deliver its verdict if the Competition Commission of India (CCI) can go ahead with a probe against Amazon and Flipkart for alleged anti-competitive practices, a judgment that will have a bearing on India’s expanding e-commerce space. It all started almost 18 months ago when the […]
When Byju’s acquired WhiteHat Junior, the coding platform had raised $11 million in funding, most of the money was still in the bank and it was cash-flow positive. Bajaj isn’t a typical entrepreneur — he is an author of three novels, worked as the South Asia head of Discovery Networks, and as a yoga teacher […]
(Image: Shutterstock) The venture capitalist is mystified. He has seen half a dozen startups pitch to him and his partners at a top firm in the last month or two. That’s in addition to three newsbreaks from media outlets about similar startups, which piqued his interest. All these companies have a near-identical pitch. They want […]
Representative image Online ticketing platform BookMyTrip has laid off 200 employees as the pandemic continues to impact the ticket booking sector. “COVID-19 has taught me many lessons and I learnt another one today. As we let go of 200 of the most incredibility talented and performance driven individuals, each and everyone has messaged, thanking me for the […]
Its existing investors- Accel, Sequoia India and Stellaris Venture Partners also participated in the round. (Representative image) Software startup Slintel said on June 10 that it has raised $20 million in a Series A round of funding led by GGV Capital- an investor in Airbnb, Slack and others. Its existing investors- Accel, Sequoia India and […]
Integrated fitness and wellness platform cult.fit has acquired TREAD, a Bengaluru-based connected fitness start-up that recently launched a smart fitness bike. The acquisition will help cult.fit launch its hardware-at-home business vertical. Following cult.fit’s launch of digital at-home fitness last year, the platform has seen a massive uptick in live workout classes on its app. In […]
At a time when loss-making companies such as Paytm, Zomato, and Delhivery are gearing up for an initial public offering, here’s a list of some companies who went public in the last two to three years with their balance sheets in red and how they are performing now. One97 Communications which owns and operates Paytm […]
Bitcoin wallets can be stored offline or online at cryptocurrency exchanges, venues where bitcoin can be bought and sold for traditional currencies or other virtual coins.(Representative image) Central American nation El Salvador became the first country in the world that has legalized the use of Bitcoin and will use it along with US dollars in […]
Tata Digital Limited, a 100% subsidiary of Tata Sons Private Limited, to acquire majority stake in digital health company 1MG Technologies Private Ltd. (“1MG”). This is a developing story. Please check back later for more details.
The acquisition will give exit to the latter’s investors American Express and ICICI Investments Strategic Fund. Financial services provider BharatPe has acquired multi-brand loyalty platform PAYBACK India from American Express and ICICI Investments Strategic Fund, the company said on June 10. While the company did not comment on the deal size, it is expected to […]
E-commerce. | Representative image Alteria Capital, which provides loans to startups, is launching a community initiative for founders of business-to-business startups to share knowledge, discuss strategy and help each other, the firm said on June 7. Alteria is starting the platform called ‘The India B2B Clan’ in partnership with Zetwerk and Infra.Market, two of the […]
“During the time of COVID we all have to come together to figure out how we can take part in the country’s economic recovery,” said Ritesh Agarwal, founder and chief executive of Oyo at a virtual conference. (Source: CNBCTV18) Softbank-backed hospitality firm Oyo along with online travel agencies such as Yatra, AirBnB and EaseMyTrip have […]
Online food-ordering and restaurant-discovery firm Zomato has elevated former chief finance officer (CFO) Akriti Chopra as founder as it gears up to go public. This is not the first time Zomato is elevating an employee to the position of a founder of the company. A year ago, it elevated Mohit Gupta, the CEO of its […]
Let’s take a look at what different companies and entrepreneurs are doing, and where you can contribute Software firm Whatfix said on June 8 that it has raised $90 million in a funding round led by SoftBank’s Vision Fund 2, continuing the Japanese investor’s recent blistering dealmaking run in Indian startups. Existing backers Eight Roads […]
Vikram Chopra, Co-founder and CEO – CARS24 In the history of internet companies, the ‘x of y’ business model is all too common. The Amazon of healthcare, the Uber of grocery delivery, and so on. Many of these are legitimate business models. Some fell by the wayside. Now, used car-selling platform Cars24 wants to be […]
He was the son of a diamond factory worker who lived in a small house on the outskirts of Ahmedabad in Gujarat, often struggling to pay his school fees. His ambitions then were to land a decent, salaried job that would help pay off his father’s debt. However, destiny had better plans for Jaynti Kanani, the cofounder and […]
Vikram Chopra, Co-founder and CEO – CARS24 In the history of internet companies, the ‘x of y’ business model is all too common. The Amazon of healthcare, the Uber of grocery delivery, and so on. Many of these are legitimate business models. Some fell by the wayside. Now, used car-selling platform Cars24 wants to be […]
Let’s take a look at what different companies and entrepreneurs are doing, and where you can contribute Software firm Whatfix said on June 8 that it has raised $90 million in a funding round led by SoftBank’s Vision Fund 2, continuing the Japanese investor’s recent blistering dealmaking run in Indian startups. Existing backers Eight Roads […]
SoftBank and food delivery platform Swiggy have sought an approval from Competition Commission of India for a proposed investment, the final step that will help seal one of SoftBank’s biggest bets in India. Moneycontrol had reported in April that SoftBank will invest $450-500 million in Swiggy at a post-money valuation of close to $5.5 Billion. […]
Instamojo currently helps small businesses Payments firm Instamojo said on June 8 that it had launched an e-commerce software platform aimed to help small to mid-sized consumer brands set up an online presence, along the lines of Canadian firm Shopify– currently worth $150 billion and among the hottest new age software firms. Instamojo currently helps […]
Fin-tech firm BharatPe on June 7 announced a strategic partnership with International Cricket Council and will promote the association across broadcast and digital platforms, as well as execute in-venue brand activations at all the ICC events for three years. These include the upcoming ICC World Test Championship, ICC Men’s T20 World Cup, ICC Men’s T20 […]
Swiggy Delivery boy | Representative image On-demand delivery platform Swiggy said on June 7 that it has launched ‘Swiggy Suraksha,’ a care package that prioritises the health and safety of over 1.5 lakh delivery partners and their families.
Korero Platforms will leverage the existing partnerships and customer base DiGiSPICE Technologies, on June 7, announced the launch of new-age startup Korero Platforms which would offer communication platform-as-a-service (CPaaS) solutions to enterprises. This new platform would enable omni-channel, contextual conversations between future-ready businesses and their stakeholders. Korero Platforms, a business unit of DiGiSPICE Technologies, will […]
Nandan Nilekani (Image: PTI) Infosys co-founder Nandan Nikesani wants India to accept cryptocurrencies as an asset class, a strong sign of its growing acceptance in India even as it faces regulatory uncertainty. “Just like you have some of your assets in gold or real estate, you can have some of your assets in crypto. I […]
Manan Khurma started Cuemath in 2013. After-school maths and coding firm Cuemath was started in 2013 by Manan Khurma, an Indian Institute of Technology (IIT)-Delhi graduate. His interest in mathematics led him to teach after college. Before Cuemath, Khurma founded Locus Education, a JEE test preparation venture in New Delhi which operated from January 2007 […]
Representative image Issues related to hiring and human resource management in the technology sector have been generating quite a lot of buzz of late on social media, founder forums and the like. A recent article in Moneycontrol, which highlighted the case of a 32-year-old tech professional in India bagging a Rs 2-crore pay cheque, the equivalent of […]
Founded in March 2020, Koo can be used to express views and opinions on various topics much like Twitter. Indian social media company Koo is targeting an expansion of its operations in Nigeria, in the aftermath of the country banning top microblogging site Twitter. Koo co-founder and chief executive officer Aprameya Radhakrishna suggested on June 5 […]
Rank 1 | One97 Communications | Sector: E-commerce | Valued at: $16 billion The IPO-bound One97 Communications, which owns and operates online payments firm Paytm, on June 5 reported a decline in its revenue and losses during the financial year ending March 31. Here are some of the key takeaways from its annual filing. — […]
The board of One97 Communications, the parent firm of Paytm, is planning to go public in what is touted to be one of the country’s largest initial public offerings (IPO). Paytm’s $3-billion IPO (around Rs 21,745 crore taking USD/INR value at Rs 72.48) is likely to be slated for Diwali (October-December) and the company is targeting […]
Zerodha founder Nithin Kamath Nithin Kamath, the co-founder of Zerodha, one of India’s largest discount brokerage firms, shared a witty post on Twitter on June 4 after the microblogging site declined to verify his handle. Since his early childhood days,Kamath said, he has mostly been “rejected”. “Twitter @verified just reminded me of my school & college […]
Noida-based robotics startup Addverb Technologies is in advanced talks with prominent institutional investors to raise $80-120 million in a fresh round of funding. The company that builds robotics and automation solutions for factories and warehouses counts Amazon, Flipkart, ITC and Coca-Cola among its clients. “This round will help us expand globally. Southeast Asia, America and […]
Representations of cryptocurrencies including Bitcoin, Dash, Ethereum, Ripple and Litecoin (Image: Reuters/Florence Lo/Illustration) “What’s the best bet to turn Rs 1 lakh into Rs 5 lakhs in 30-45 days?” my phone buzzes with a WhatsApp message one evening on May 24. Journalists get lots of questions that flummox them. This is one of them. This […]
Early stage investor Artha Ventures said on June 4 that it has closed its debut early stage fund of Rs 220 crore, which plans to invest in 28 promising startups in the next two years. Artha, founded by angel investor Anirudh Damani has been raising the fund since 2018, and its closure indicates the growing […]
