This is the usual startup lifecycle, but on crack. Jet.com was founded in late 2014. It became a unicorn in 2015, hitting a valuation of $1 billion 4 months after its launch. And today, it was acquired by Walmart for $3 billion.
When the hashtag #FirstSevenJobs started trending on Twitter in which people shared what their first seven jobs were, entrepreneurs also chimed in. And it made for fascinating reading.
Orkut Buyokkoten, the co-founder of the eponymous social network Orkut has co-founded Hello, a social network based on common interests, almost 5 years after Orkut was deprecated by Google. Hello is based on connecting people based on their passions and shared interests.
Days after the Didi-Uber deal, Uber has cut back on its subsidies and discounts in China.
The Future Group is letting go of its offline-only stance, and that too in a big way.
The latest entrant to the taxi-hailing service space, UTOO Cabs, which has commenced operations in Chennai, has announced a novel scheme to retain and motivate drivers.
Modern businesses are notoriously complex entities. They transcend geographies and political boundaries, and can often have a confusing set of investors and partners. So when things happen in one business, they can impact other unrelated businesses – often with surprising results.
It was a long, bruising battle, but finally one side has blinked. Uber will sell its Chinese business to its homegrown rival Didi in a move that will signal the end of the rivalry that had riveted the business world for years.
US-based mutual funds haven’t been the biggest fans of Flipkart this year. But things seem to have turned a corner for Flipkart though. Today Fidelity marked up the value of its Flipkart’s shares by 2.7 percent.