Paytm Payments Bank Has Rs. 10.7 Crore Of Deposits, But Reports Rs. 20 Crore Loss In 2018

Paytm Payments Bank Has Rs. 10.7 Crore Of Deposits, But Reports Rs. 20 Crore Loss In 2018

Paytm’s launched products in several different areas and several different verticals, but not all of them have been equally successful. Paytm Payments Bank, more than a year after its launch, has only Rs. 10.7 crore in total deposits. The entity, however, made Rs. 20 crore of overall loss in 2017-18. This was after the bank racked up expenses of Rs. 740 crore, against revenues of Rs. 720 crore. Of this, Rs. 654 crore of income…

As Google Shopping Launches In India, Flipkart And Amazon Have A Brand New Competitor

As Google Shopping Launches In India, Flipkart And Amazon Have A Brand New Competitor

After Amazon and Walmart, yet another global multinational giant has thrown its hat into India’s e-commerce ring. After months of speculation, Google has launched Google Shopping in India. Google Shopping will let customers buy in India buy items either through its own site, or through a separate tab on Google search. Google Shopping was first launched by the company in 2012, and currently runs in nearly 25 countries. India is the latest country to join…

5 Reasons to Launch a White Label SEO Startup

5 Reasons to Launch a White Label SEO Startup

Startups have an alarming failure rate. In fact, 8 out of 10 businesses die within a short. After launch. Many people believe that if they have a great idea for a business, they can turn that into a reliable revenue stream without much effort.  However the reality is far from this state of affairs. Launching a startup and finding a consistent source of new business is a tremendous challenge and many miss the mark. Here…

Byju’s Valued At $3.6 Billion After New Funding Round, Becomes India’s 5th Most Valuable Startup

Byju’s Valued At $3.6 Billion After New Funding Round, Becomes India’s 5th Most Valuable Startup

What had started off as a CAT coaching class has now become India’s fifth most valuable startup. Byju’s is now valued at $3.6 billion (Rs. 25,000 crore) after a $400 million funding round from South Africa-based Naspers, Canadian pension fund CPPIB and private equity firm General Atlantic. Byju’s has already received $322 million for the round, the company’s filings revealed, and is expected to receive the remaining amount in the coming months. Naspers Ventures has invested $176 million…

Zomato Executive Eats Orders On The Way, Video Goes Viral

Zomato Executive Eats Orders On The Way, Video Goes Viral

When Zomato had been advertising 50% off on its food orders, this isn’t what it would’ve had in mind. A video of a Zomato delivery executive opening delivery orders and eating them, before packing them once again has gone viral on social media. The video, which was reportedly shot in Madurai, shows a delivery executive seated on his bike and eating out of a container. Once he’s taken a few bites, he packs the box…

Ankit Bhati To Soon Be New Ola CEO, Bhavish Aggarwal To Take Over As Group CEO: Reports

Ankit Bhati To Soon Be New Ola CEO, Bhavish Aggarwal To Take Over As Group CEO: Reports

India’s largest ride hailing company could soon have a new person in the driver’s seat. Ola co-founder Bhavish Aggarwal, who’s been the CEO of the company since its inception in 2011, could soon step aside, sources told Business Standard. His place will be taken up fellow co-founder Ankit Bhati, who’s been the company’s Chief Technical Officer thus far. Aggarwal will now become the group CEO, and will focus on fundraising and look to scale up…

Google Acquires “Where Is My Train” App For An Estimated Rs. 280 Crore

Google Acquires “Where Is My Train” App For An Estimated Rs. 280 Crore

India’s train network is among the largest in the world, and finding where its many trains are is worth a lot of money. Google has just acquired the team behind Where Is My Train app for an estimated $30-40 million (Rs. 280 crore). Sigmoid Labs had been founded by five former members of TiVo corporation, and only has a team of about 10 people. The company is based out of Bangalore. “We’re excited to share…

Zomato Enters Events Space, To Launch Its Own Food Festival Called Zomaland

Zomato Enters Events Space, To Launch Its Own Food Festival Called Zomaland

Zomato wants to no leave no part of the food experience untouched as it looks to consolidate its place as India’s premier food company. After its restaurant listing services, and its food delivery arm, Zomato is now looking to enter the food events space. The company has launched something called Zomato Events, under which it will conduct Zomaland, a multi-city food carnival that will have street performances, pop-up restaurants and food exhibitions, among others. Zomaland…

Ride-hailing Company Grab Invests Rs. 730 Crore In Oyo Rooms

Ride-hailing Company Grab Invests Rs. 730 Crore In Oyo Rooms

Oyo’s latest investor isn’t a Venture Capital firm, isn’t Indian, and isn’t even a hotel chain. Singapore-based ride hailing giant Grab has invested just over $103.4 million (Rs. 730 crore) into India’s largest hospitality startup Oyo Rooms. The investment is a part of the $1 billion fundraise that Oyo had announced just last month. Grab, through a Cayman Islands-registered entity A1 Holdings, has been issued 2,884 cumulative Convertible Preference share of Oyo at the price…

Zomato Has Just Acquired A Drone Startup To Work On Drone Deliveries

Zomato Has Just Acquired A Drone Startup To Work On Drone Deliveries

It’s been called food-tech for a while now, but the tech bit might just be getting started. Zomato has acquired Lucknow-based TechEagle Innovations, which works on drone technologies. TechEagle was founded in 2015 by IIT Kanpur alum Vikram Singh Meena in 2015, and since then has been developing unmanned aerial vehicles with a focus on custom-made drones capable of carrying a payloads of up to 5 kg. The two companies didn’t disclose the size of…

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