Snapdeal’s Losses Rise Fivefold To Rs. 1350 crore

Snapdeal has had an eventful year. It has been growing at a frentic pace, having raised its headcount by 5 times and building a swanky new office in Gurgaon. Its valuation has increased from $2 billion to a cool $4.7 billion. But worryingly, the company has also seen a corresponding increase in its losses – Snapdeal incurred a loss of Rs. 1350 crore over the past year, a five fold increase over its loss of Rs. 264 crore last year.

Tatas To Inaugurate Country’s Largest Startup Hub In Telangana

Hyderbad is fast becoming a magnet for innovation and next-gen business. After global biggies such as Google, Amazon and Uber had annouced plans to set up large operations in the state, it is now the turn of Indian companies to come calling.
Tata Sons is setting up India’s largest incubation center, T-Hub in Hyderabad. The facility will be inaugurated on September 7th this month by Chairman Emeritus Ratan Tata.

After Announcing Layoffs, Housing Acquires HomeBuy360 For $2 Million

Barely a week after reports emerged that 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.