Ride-hailing Company Grab Invests Rs. 730 Crore In Oyo Rooms

Ride-hailing Company Grab Invests Rs. 730 Crore In Oyo Rooms

Oyo’s latest investor isn’t a Venture Capital firm, isn’t Indian, and isn’t even a hotel chain. Singapore-based ride hailing giant Grab has invested just over $103.4 million (Rs. 730 crore) into India’s largest hospitality startup Oyo Rooms. The investment is a part of the $1 billion fundraise that Oyo had announced just last month. Grab, through a Cayman Islands-registered entity A1 Holdings, has been issued 2,884 cumulative Convertible Preference share of Oyo at the price…

Zomato Has Just Acquired A Drone Startup To Work On Drone Deliveries

Zomato Has Just Acquired A Drone Startup To Work On Drone Deliveries

It’s been called food-tech for a while now, but the tech bit might just be getting started. Zomato has acquired Lucknow-based TechEagle Innovations, which works on drone technologies. TechEagle was founded in 2015 by IIT Kanpur alum Vikram Singh Meena in 2015, and since then has been developing unmanned aerial vehicles with a focus on custom-made drones capable of carrying a payloads of up to 5 kg. The two companies didn’t disclose the size of…

Walmart’s Acquisition Of Flipkart Is The World’s Most Expensive Facelift: Ashwath Damodaran

Walmart’s Acquisition Of Flipkart Is The World’s Most Expensive Facelift: Ashwath Damodaran

Much has been written about Walmart’s $21 billion acquisition of Flipkart — some have called it Walmart’s gateway to its India ambitions, while others have called the purchase the coming-of-age of the Indian startup space. But Aswath Damodaran, professor of finance at NYU Stern School of Business, has distinctly unique take on the record deal. Damodaran feels that Walmart’s acquisition of Flipkart is simply the most expensive face-lift in history. “Walmart invested in a company which is burning…

Softbank Wants To Invest $1 Billion In Ola, But Bhavish Aggarwal Is Reportedly Reluctant To Accept

Softbank Wants To Invest $1 Billion In Ola, But Bhavish Aggarwal Is Reportedly Reluctant To Accept

Most entrepreneurs are usually running after entrepreneurs to fund their ventures, but Ola CEO Bhavish Aggarwal is reportedly reluctant to accept a cool $1 billion — and from Softbank, no less. Ola CEO Bhavish Agarwal is unwilling to accept the full $1 billion (Rs. 7,000 crore) that Softbank wants to invest in his firm, ET reports. “(Softbank CEO Masayoshi) Son and Aggarwal have met multiple times recently but taking such a big amount from SoftBank has…

Foodpanda Claims It’s Become India’s Largest Food Delivery Network After Launching In 100 Cities

Foodpanda Claims It’s Become India’s Largest Food Delivery Network After Launching In 100 Cities

Foodpanda might not yet have the order volumes to match up with the Swiggies and the Zomatos, but it’s trying to make up in distribution. Foodpanda says it has become India’s largest food delivery network after expanding into 100 cities. Foodpanda is now present in most Tier 2 and Tier 3 locations, and says it’s the first in markets like Aizawl, Shillong, Raipur, Jodhpur, Bhavnagar, Patiala, Nellore, Durgapur, Shimla, Rewa, Bokaro. It notched up its…

It’s Easier To Raise $1 Billion In India Than Anywhere Else In The World: Paytm CEO Vijay Shekhar Sharma

It’s Easier To Raise $1 Billion In India Than Anywhere Else In The World: Paytm CEO Vijay Shekhar Sharma

Many of India’s first-time entrepreneurs visiting VC offices and angel investors might not quite agree, but Paytm CEO Vijay Shekhar Sharma says there’s no better place than India to raise a billion dollars in funding. The time for our country has finally arrived – there is no better place to start a company today,” proclaimed Sharma. “Today, it is easier to raise a billion dollars in India than anywhere else in the world,” he added. Paytm…

India’s Budget Hotels Are Considering Taking Oyo To Court For Its Predatory Pricing

India’s Budget Hotels Are Considering Taking Oyo To Court For Its Predatory Pricing

Oyo might now be worth $5 billion, valued more than the Taj Group, and the toast of India’s startup ecosystem, but not everyone’s pleased with its meteoric rise. India’s budget hotels are coming together to consider legal action against Oyo’s predatory pricing, ET reports. “Oyo has disrupted the entire market drastically,” said Budget Hotel Association of Mumbai president Ashraf Ali. “Rooms that we used to sell for Rs 2,000-2,500 are now being sold for Rs…

PM Modi’s App Learns From Startups, Uses A Referral Code Growth Hacking Program To Collect Donations

PM Modi’s App Learns From Startups, Uses A Referral Code Growth Hacking Program To Collect Donations

The jury might be out on how much India’s startups have benefited from Startup India, but the government sure seems to have learnt a thing or two from India’s startups. PM Modi’s Narendra Modi app, which has over 5 million installs and an overall rating of 4.6, is using referral codes to growth hack its way towards collecting donations for the party. Anyone making a micro-donation through the app — a sum between Rs. 5 and…

The Value Of Paytm’s Shares Has Risen 60% In Six Months In The Unofficial Markets

The Value Of Paytm’s Shares Has Risen 60% In Six Months In The Unofficial Markets

India’s stock markets haven’t been having the best time of late — the Nifty had touched a lifetime high of 11,700 in September, before crashing nearly 15% in the following months, and sectors like NBFCs and banks have also bled. But amidst all this, an unlisted stock has been doing pretty well for itself. The value of Paytm’s parent company One97’s shares have risen 60% in the unofficial stock markets, brokers have told ET. “Shares…

Amazon Has Just Beaten Flipkart To Become India’s Largest Online Retailer By Gross Sales

Amazon Has Just Beaten Flipkart To Become India’s Largest Online Retailer By Gross Sales

Five years after it entered India, Amazon appears to have finally gnawed past Flipkart’s first-mover advantage. Amazon has just beaten Flipkart for the first time in terms of gross sales or GMV, a Barclays report has said. Amazon generated $7.5 billion in gross sales in the year ended March compared with $6.2 billion generated by Flipkart. This number, however, doesn’t include sales from Flipkart’s fashion subsidiaries Myntra and Jabong.  In terms of revenue, however, Flipkart…

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