Ola, India’s largest cab aggregator in stiff competition with Uber of USA adds another feather to its financial cap by raising $500 million (Rs 3,300 crore) in its latest round of funding. The deal has propelled Ola ahead of Uber in the cab-hailing startups race. This also takes Ola, which very recently got into the grocery business, to a valuation high of $5 billion.
Online shopping store Shopclues is looking for funds to the tune of Rs.990 to 1,320 crores so as to double its estimated worth in less than a year. According to Sanjeev Aggarwal, senior managing director at Helion Ventures which has a stake in Shopclues, the company may also go for a public offering to achieve its objective. “We feel we could be the first ecommerce company to go public,” added Agarwal.
Diwali usually means a nice little gift for most office workers. This is usually a box of sweets, or if their company is feeling generous, some dry fruits. But the employees at Square Yards have it a little better than the others come festive season. Their company has decided to fund the downpayment of their brand new homes.
Flipkart is continuing to innovate in the area of HR practices. After announcing generous maternity and paternity leaves, and offering unprecedented leaves flexibility at work, the company has made it easier for its employees to monetize their stock options, which are often a large part of their salaries.