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.
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.
The Maharaja is smiling. Air India, after a whole decade of consistent losses, has finally registered an operating profit this year.
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.
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.
Under the harsh scrutiny of the bourses, it was expected that Infibeam’s IPO would provide signs as to what the markets really thought of the Indian e-commerce sector.
It had been one of the most debated topics in tech circles last year. It had stirred debate, drawn discussions and polarized people. But it looks like the subject has finally been put to rest. Myntra will relaunch its desktop site that it had shut down in May last year.
Uber and Ola had suspended surge pricing in Delhi after the Delhi government’s directive, but it looks like it’s back. On the first day of the diesel car ban in Delhi, both Uber and Ola have resumed surge prices to the capital.
Jabong’s parent company, Global Fashion Group, has secured a $346 (EUR 300m) million from Kinnevik and Rocket Internet. While Rocket Internet will underwrite around EUR 100 million of the financing, it will invest around EUR 85 million including the conversion of an existing investment at the terms of the financing.