On 9th November, Maggi was back in stores after a long, agonizing gap 6 months. And within 2 weeks of its relaunch, Maggi has sold a staggering 45 million packets.
Maggi had tied up with Snapdeal for its comeback, and had sold packs of 12 that came with a calendar and a poster. Snapdeal had managed to sell 60,000 packs on the first day.
With venture capitalists in India being more circumspect with their investments and demanding better scrutiny of valuations and justification of capital utilization, a group of Chinese startups seem to have entered the field, which gives hope to Indian entrepreneurs.
Roadrunnr’s Ejipura office in Bangalore was vandalized today by irate employees who were protesting a change in their salary structure. The employees damaged office furniture and broke glass windows. This is the 2nd case of employee unrest this month in the Indian startup space after TinyOwl employees had held the company’s cofounder hostage for over 2 days in Mumbai.
Single brand retail companies can now get on ecommerce according to new FDI directive.
A new restaurant in Bangalore, charges not for the food, but for the time spent at the premises.
Ola, India’s largest cab aggregator in stiff competition with Uber of USA adds another feather to its financial cap by raising $500 million (Rs 3,300 crore) in its latest round of funding. The deal has propelled Ola ahead of Uber in the cab-hailing startups race. This also takes Ola, which very recently got into the grocery business, to a valuation high of $5 billion.
Marriott, the hotel chain biggie has bought its rival company Starwood that owns hotels like the Westin and Sheraton. The deal will make the group the world’s largest hotelier, managing over 1 million rooms.
Online shopping store Shopclues is looking for funds to the tune of Rs.990 to 1,320 crores so as to double its estimated worth in less than a year. According to Sanjeev Aggarwal, senior managing director at Helion Ventures which has a stake in Shopclues, the company may also go for a public offering to achieve its objective. “We feel we could be the first ecommerce company to go public,” added Agarwal.
Zomato’s table booking system is all set to launch globally. Zomato Book, which had been undergoing trials in India, will now be available across 12 markets – Australia, New Zealand, Portugal, UK, Ireland, Chile, South Africa, Czech, Slovakia, Turkey, Italy and Poland.