New Delhi Hosts Startup Kumbh On January 16
A day-long congregation (kumbh) – the first of its kind – of startup stakeholders gets underway on January 16 in the Indian capital, New Delhi. Here’s a preview.
Category: News
Housing Records A Loss Of Rs. 279 Crore In FY 2015
Realty portal Housing.com had been struggling with mounting losses when CEO Rahul Yadav was let go, documents filed by the company reveal. In FY 2014-2015, Housing recorded a loss of Rs. 279 crore. Its revenue in the same period was Rs. 12 crore. In comparison, competitor CommonFloor had revenues of Rs. 45 crore.
Kunal Shah Appointed IAMAI Chairman
Freecharge founder Kunal Shah has been appointed as the Chairman of Internet and Mobile Association of India (IAMAI). IAMAI is a not-for-profit industry body with a mandate is to expand and enhance the online and mobile value added services sectors.
Uber Launches UberCommute In Bangalore
The carpooling wave, partly spurred on by the Delhi government’s Odd-Even plan, is taking foot across the country. After starting off in Delhi, Uber has now launched UberCommute in Bangalore. Under this service, ordinary drivers will be able to offer their cars for pooling with people going their route.
Snapdeal Lands In A Legal Soup For Selling Maggi
The ecommerce giant that had seemingly landed a marketing coup by partnering with Nestle to sell exclusive “welcome back” packages of Maggi, is now being sued for the same.
Grofers Shuts Down Operations In 9 Cities
Grocery delivery app Grofers’ ambitious expansion plans have hit a roadblock. After the company recently raised $120 million which saw its valuation rise threefold in less than a year, the company has decided to scale back its operations. It has shut down in operations in 9 Indian Tier 2 cities, including Ludhiana, Bhopal, Kochi, Coimbatore and Visakhapatnam.
Quikr Makes Big Push Into Home Services Space
Quikr, which is rapidly expanding from its initial model of being a goods exchange marketplace, is now looking to enter the home services market in a big way. The company has readied a Rs. 250 crore war-chest to fulfil its plans.
Uber Pulls Out Of 3 German Cities Citing Difficult Regulatory Environment
Less than two years after its launch, taxi-hailing service Uber has suspended services in the German cities of Hamburg, Frankfurt and Dusseldorf, citing a difficult regulatory environment.
Zomato Order Crashes On NYE; Company Switches Off Online Ordering
Zomato saw its food ordering service Zomato Order crash on New Years Eve. Zomato was inundated with orders from hungry revelers on 31st December, seeing record levels of orders on the site.