Barely a week after reports emerged that Housing.com would be firing 600 of its 2600 employees as a part of a restructuring, the company today announced that it has acquired Bangalore-based customer relationship management software company HomeBuy360. This is Housing’s 3rd acquisition this year, after having previously acquired real esate forum IREF and Realty BI, a data analytics company in the real esatate sector.
Online lingerie retailer Zivame is set to raise $40 million from Malaysian sovereign wealth fund Khazanah Nasional Berhad and Mumbai-based investment firm Zodius Capital. The deal would value the 4 year old company at $100 million.
GrayOrange Robotics has raised $30 million (Rs. 190 crore) in its latest round of funding led by Tiger Global. The Gurgaon based company, which also has an office in Singapore, plans to use this capital towards R&D, hiring, and expansion into markets such as Asia Pacific, Middle East and Europe.
In a move to encourage and incubate entrepreneurs in the state, 50 young mobile application developers will receive Startup Kits as part of the Youth Entrepreneurs Scheme (YES) 2015 in Kerala.
First came the brashness. Then came the much-publicized fight with his board members. And finally, it’s LSD. The Steve Jobs trifecta is complete, and the legend of Rahul Yadav is born.
Rahul Yadav, erstwhile CEO of Housing.com, and enfant terrible of Indian startup community, just posted this on his Facebook page.
If normal startup pitches make you nervous, imagine pitching your startup to the US President.
That’s what happened on August 4, when President Barack Obama hosted the first-ever White House Demo Day focused on inclusive entrepreneurship.
Here is a roundup of some of the traditional businesses that are feeling the pinch of the mushrooming startups that threaten to affect them and eventually even displace them. What remains to be seen is whether the traditional businesses will adapt to this change, reinvent themselves and join in the wave on a “If you can’t beat them, join them” philosophy, or wait it out, let the wave pass, for the VC funded startups to bust as the red bottomlines begin to show, and emerge as the classics.
FabFurnish.com has fired at least 50 employees, or about a fourth of its workforce. It is vacating warehouses as part of a business restructuring. The online furniture seller is changing its model and laying off employees at various levels. The company said it has “undertaken a resource optimisation exercise” and is “hiring a talent pool ideal for our new business positioning”.
Barely a couple of days after hotel aggregator Oyo Rooms raised $100 million from Softbank, fierce rival ZO has raised $30 million from existing investors, Tiger Global Ventures and Orios venture partners.
India is set to produce at least a dozen of billionaires and list of millionaires by 2020, thanks to the glory of country’s startup scene particularly in e-commerce, financial service and other tech driven sectors, an Assocham study reported.