Ola has launched its auto hailing service in Chandigarh. It is the 7th city in the country to have the service, after Bangalore, Chennai, Delhi, Ahmedabad, Hyderabad and Pune were added in October 2014. The company intends to add two more cities by the end of the year.
The horrific floods in Chennai that disrupted normal life and left over 300 people dead have also left their mark on the city’s IT industry. Owing to offices being flooded and hence closed down, IT companies with a presence in Chennai will see reduced revenues this quarter.
Three senior partners at Helion Venture Partners, one of India’s oldest Venture Capital firms, have quit. Rahul Chowdhri, Ritesh Banglani and Alok Goyal will…
Being present in 35 Indian cities and with millions of people using its platform, Practo now has a wealth of data pertaining to healthcare in India. The company analyzed 75 million searches and 40 million physician appointments to come up with a picture of what Indian healthcare looks like.
India’s beleaguered on-demand bus services sector got a much needed shot in the arm today after Delhi-based Shuttl raised Rs. 135 crore in…
South Korean electronics giant Samsung has had a presence in India for two decades now. Having entered the country in December 2015, it now occupies thousands of feet of office space, employs thousands of people across diverse fields such as R&D and sales, and has a large imprint on India’s technical industry. It’s a good paymaster as well – a full 116 Samsung India employees drew salaries of over Rs. 1 crore per year. But there was a problem. 70% of these people were of Korean origin.
Venture Capital isn’t always the easiest form of investment. You take a bet on a small company with uncertain prospects. The company usually operates in a field that hasn’t been ventured into before, and there are few markers to tell you if it’ll succeed. And most don’t. Nearly 90% of startups fail, and Venture Capital firms are never able to recover their investments. But every once in a while, a startup succeeds. And when it does, the results can be astonishing.
On-demand shuttle services had been seen by many as a way to ease India’s growing traffic and pollution problems. By operating on popular routes at peak hours, these services took cars off roads and also provided consumers a cheaper alternative to cab hailing companies. Over the last year, several startups emerged in the area, including ZipGo, RBus, and Shuttl, while cab hailing giant Ola had also thrown its hat into the ring, launching Ola Shuttle.
TinyOwl had closed its offices in Hyderbad, Pune, Gurgaon, Chennai and Hyderabad in dramatic circumstances in October, with a founder being held hostage in the Pune office for over 48 hours by the laid off employees. Now with all the offices lying vacant, TinyOwl’s founder has taken to Facebook to find new owners for them.