The Indian Wallets Space Has A Big New Entrant: Reliance
Finally a big player has taken note and decided to throw its hat in the wallets ring. Reliance quietly launched its JioMoney wallet on the Play Store yesterday.
Author: Bart Eshwar
Bart Eshwar is interested in startups, business and green tea. He is currently nursing an unhealthy obsession with Donald Trump.
New Startup Idea Not Working Out: Rahul Yadav
Rahul Yadav, who’d earlier claimed that his new startup would be unlike anything that the Indian industry had ever seen, and had said that it would be 10x bigger than any other internet company, has said that his new startup idea is not working out.
Zomato CEO Deepinder Goyal Emails Employees After HSBC Valuation Cut
After reports that HSBC had slashed Zomato’s valuation by 50%, valuing it at just $500 million, Zomato CEO Deepinder Goyal wasted no time in clearing the air. In an email sent this morning to Zomato’s global employees, Goyal talks about Zomato’s numbers, points out how HSBC’s report might have overlooked certain aspects, and urges his team to “get back to work.”
Unicorn No More? HSBC Slashes Zomato’s Valuation By Half
It’s the season of markdowns. After Flipkart has seen its valuation being marked down by as many as 4 separate investors, HSBC has valued Zomato at about $500 million, a full $500 million short of the $1 billion valuation at which it had raised funds last year.
Snapdeal Enters Yet Another Vertical, Starts Hyperlocal Services
After lots of small startups had proliferated the Indian hyperlocal services space, the biggies are now coming in in droves. After Quikr had launched its hyperlocal arm, and Facebook had made a bold play in the space, India’s 2nd biggest e-commerce company, Snapdeal, has launched its own version of hyperlocal services.
In A First, Swiggy Introduces Surge Pricing For Deliveries
If cabs can do it, why should food startups be any different? In what is possibly a first for the food delivery industry, Swiggy is now charging surge prices for certain orders.
Air India Reports A Profit For The First Time In 10 Years
The Maharaja is smiling. Air India, after a whole decade of consistent losses, has finally registered an operating profit this year.
Ola Drivers Protest In Chennai Over Reduced Incentives
Nearly 100 Ola drivers have been protesting at the company’s office in Chennai. The drivers are unhappy with Ola’s policies which have recently come into effect.
Flipkart’s Valuation Cut By Two More Investors
It’s getting increasingly likely that Flipkart isn’t quite worth the $15 billion it was last year. After Morgan Stanley had marked down its shares by 27%, and T Howe had snipped its valuation by 15%, two mutual firm investors have now valued Flipkart at less than the $15 billion valuation it enjoyed in August last year.