Jabong’s Chief Marketing Officer Saurabh Srivastava has quit less than 5 months after joining the company. Srivastava had joined Jabong in October last year, and had replaced Praveen Sinha, one of Jabong’s co-founders, who had quit to start his own venture.
Incredible scenes were witnessed at Snapdeal’s New Delhi office after the company put 200 of its employees on a Performance Improvement Plan.
Flipkart Shuts Down Its Groceries Arm Nearby. Last year there was a spurt of players in the online grocery delivery business with new players like Peppertap and Grofers and biggies like Flipkart with Nearby, Ola with Ola store and Amazon with Amazon groceries entering the fray. Though recent events point out to the potential lack of feasibility of a grocery delivery business. Recently, Peppertap had scaled down operations by shutting down in 6 major cities and Grofers had shut down in 9 cities.
The spate of employee layoffs has finally reached e-retail companies. After Helpchat, Zomato, TinyOwl and several others had fired employees over the course of the last few months, it has emerged that Snapdeal is on the verge of laying off as many as 200 employees from its workforce.
“India’s looking as sweet as Kulfi!” to 500 Startups at the moment, as it has launched 500 Kulfi, a $25 million India-focussed fund. The fund will be sector agnostic, but will focus on FinTech, EdTech, Health & Wellness, Data Analytics, Content and SaaS and SMB.
Pankhuri Shrivastava and Prateek Shukla are a couple of 25 year olds, who have never held a job in their lives. They started Grabhouse when they were both just 23 years old. Read how they growth hacked their way to make Grabhouse a multi-million dollar valued real estate powerhouse.
Snapdeal is known for giving away some unbelievable discounts, but this was a discount that seemed too good to be true. Punjab University B.Tech student Nikhil Bansal was browsing through the site when he came across an iPhone 5S that was at 99.97% off. While others might’ve dithered, thinking this was a technical glitch, Bansal immediately ordered the phone. He paid Rs. 68, or $1, for a shiny new iPhone 5S.
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.