Paytm is pulling out all stops to get ordinary Indians to transact digitally. After it was revealed that it had spent Rs. 588 crore in customer cashbacks last year, it has now scrapped transaction fees for offline merchants for its wallet transactions. This fees was applied to all transactions and ranged between 0.5% to 2.5% of the transaction value.
Founding a startup and running it is hard enough. Getting someone else to buy the idea and invest into it is a different animal altogether. While stories of startups raising $$$ in funding are rampant, it’s the first time entrepreneurs who struggle with knowing where to start and how to go about the process.
The Aditya Birla Group is an over a century old, $40 billion, multinational conglomerate, employing over 120,000 employees worldwide. Most employees of the company have working there for years, and a job at an Indian behemoth such as an Aditya Birla Company usually means a conventional and secure job. However, in a true manifestation of the old guard accepting the new, the employees of the many companies under the group can now give way to their entrepreneurial dreams with the company’s blessings.
Working at a startup means crazy working hours, uncertainty, and dealing with a lot of complexity, but at least you will get paid well for it. According to the 20th edition of the Aon Hewitt annual Salary Increase Survey 2015-16, early stage companies and startups will offer the highest salary increase of 15.6 per cent during 2016.
You’d think that a company whose flagship product is called “Qtiyapa” wouldn’t be an ideal candidate for investment from a big top-tier VC, but you’d be wrong. The Viral Fever, the comedy collective that has made hit online series including TVF Pitchers and Permanent Roomates, has just raised $10 million from Tiger Global. The investment values the six year old company at Rs. 270 crore.
It now appears that the final nail has been dug into the “app-only” coffin. Flipkart’s fashion brand Myntra, which had shut down its site and had been available solely on its app since May last year, is now back with its mobile website.
Paytm might have the biggest digital wallet in the country with over 120 million subscribers, but the users haven’t come cheap. Paytm revealed that it spent Rs. 588 crore in cashbacks to customers in 2015. The company had incurred a loss of Rs. 372 crore in FY 2014-2015.
11 Reasons Why A Startup Is Exactly Like A Girlfriend. It’s all about the challenges, the wins and the commitment.
Months after starting a startup incubator, T-Hub, in the cyber city Hyderabad, the Telangana government is looking to boost the state startups even further by launching an accelerator programme in the T-hub.