Startups in India have been experimenting with some innovative ways to recruit talent. Flipkart is the latest to break away from hiring convention. The ecommerce retailer is embracing an “interview-less hiring” approach, and hiring candidates based directly on Udacity projects.
Foodpanda is looking to sell out, and has approached both Swiggy and Zomato for a possible sale. Though the company is now being valued as little as $10 million, it still has no takers. Foodpanda has so far raised $218 million from investors.
Practo now allows its users to do more than just looking up doctors and specialists on its app. In a new feature that the company is testing out in Bangalore, users will now be able to order medicines online.
Two Indian cities have made it to the top 20 cities that attracted the most venture capital in high tech startups, according to a new report. Mumbai was placed at No. 15 with $ 497 million of venture capital raised, followed closely by Bangalore at no. 17 with $ 419 million raised. Predictably, San Francisco occupied the top spot with over $ 6 billion raised.
However, clearing the air and dismissing the possibility of an acquisition by either of the global companies, InMobi founder and CEO, Naveen Tewari, an ex McKinsey Consultant and Wharton alumni, has finally spoken up. In an interview with ET, Tewari states that there is no acquisition is on the cards and that the company will look to release an IPO as the only way.
The Young Entrepreneurs Academy (YEA!) is set to open two centres in India to teach entrepreneurship to school students between 11-18 years. The centres would launch at the American School of Bombay in Mumbai and at Shri Ram School in New Delhi.
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.