Facebook will soon give rural India a big fillip by teaming up with BSNL for setting up 100 Wi-Fi hotspots in villages, at a total cost of Rs.5 crores. This will be on a revenue sharing basis. FB has agreed to buy bandwidth from India for a trial period of 3 years, which could be extended for a further 2 years.
It’s the end of an era. Silicon Valley giant Hewlett-Packard (HP), with 300,000 employees at 651 locations in 120 countries, is a thing of the past. In its place are born two entities that bear its initials, HP Enterprise and HP Inc.
All’s not well at Zomato. Weeks after the company had announced that it was laying off 10% of its workforce in an apparent restructuring, it has emerged that for the first time in 5 years, the company is falling short of its sales targets. And Deepinder Goyal, the 32 year CEO, is not pleased.
Jabong, whose CEO and MD had quit in September, has finally found a replacement. The company has appointed Sanjeev Mohanty as CEO and Managing…
Deutsche Bank has reported cutting of 35,000 jobs over the next two years and shutting operations in 10 countries. Announcing its third quarter results, Germany’s largest lender and the world’s eighth largest bank in terms of assets (as per accuity.com) reported a loss of over 6 billion euros.
FreeCharge, which was acquired by Snapdeal this May in India’s largest tech deal, is in talks with existing and new investors to raise $300 million. This will be Snapdeal’s first fund raise that’s earmarked for a separate entity.
It’s the old guard versus the new. Wary of the traction being generated by new-age hotel booking sites like Oyo Rooms and Zo Rooms, incumbents MakeMyTrip, GoIbibo and Yatra have collectively removed listings from these properties from their sites.
Bad PR seems to yet again plague the food startup. Now, law students Pranav Jain and Aroon Menon from Delhi have moved to court accusing Foodpanda of miscalculating the VAT charges on bills, subsequently misappropriating their total taxes and charges due to the govenrment, and also cheating customers in the process.
After its hugely popular take on India’s startup scene captured all the drama associated with entrepreneurship, TVF has a new resource to draw inspiration from – its own internal feud. TVF Founder Arunabh Kumar has been dragged to court by former colleague Prashant Raj. Raj, who quit the company in 2014, is demanding a 4% share in the company as well as cash compensation for his work with TVF.