Amazon India has just announced that it suffered losses worth Rs. 1728 crore for the year ending March 2015. In comparison, Flipkart had announced losses of Rs. 2000 crore in the same period. Snapdeal’s losses stood at Rs. 1350 crore.
Zomato is on course to double its revenue in the fiscal year ending March 31st. The company is also all set to become break even at the operational level – meaning it won’t make losses anymore on individual orders – by mid 2016. Zomato will be the first of the Indian unicorns to reach the milestone.
Madhya Pradesh isn’t a name that immediately springs to mind when you think of locations for tech startups. India’s tech scene usually has engineering offices in the startup hubs of Bangalore or Delhi, and prefers keeping its backend offices in close vicinity. But Paytm, India’s payments and e-commerce giant, is venturing into uncharted territory by setting up a center in Jabalpur.
We trawled the social media activity of some of the most active brands on social media, and picked up the choicest of examples of times when customers had no chill, and used a brand’s well-meaning campaigns as a customer complaint redressal forum.
Hike messenger, India’s homegrown competitor to Whatspp, has touched an important milestone – it claims to touched have 100 million users. Started in December 2012, Hike has seen a steady growth in its users since its inception, though it saw stiff competition from Whatsapp among India’s user base.
Housing has raised Rs. 100 crore from Softbank in new round of funding. Softbank is already the largest investor in Housing and has a 33% stake in the company.
CREO, a Bangalore based Technology Company, has secured $3 Million funding from Sequoia India, Beenext Ventures and India Quotient.
Baby and maternity products retailer, FirstCry.com, which is owned by Brainbees Solutions Pvt Ltd., has received funding of undisclosed amount from eminent industrialist Ratan Tata. Tata has already invested in over a score of companies including Snapdeal, Paytm, Ola and CarDekho in his personal capacity.
Eight Indian startups are a part of Google’s first ever Launchpad Accelerator that began on Monday in Silicon Valley.