Sachin Bansal Invests Rs. 150 Crore In Ola, Investment Values Ola At $5.7 Billion

Sachin Bansal Invests Rs. 150 Crore In Ola, Investment Values Ola At $5.7 Billion

After exiting Flipkart with Rs. 7,000 crore in the bank, Sachin Bansal has already taken his next ride. Sachin Bansal has invested Rs. 150 crore ($21 million) in Ola as a part of its latest funding round. Bansal has purchased 70,588 ‘Series J’ preference shares at a value of Rs 21,250 per share, as per documents filed by Ola with the Registrar of Companies. The investment values Ola at $5.7 billion and makes it India’s second…

The Story Of Intel’s Ajay Bhatt, Who Invented The USB That We Use Everyday

The Story Of Intel’s Ajay Bhatt, Who Invented The USB That We Use Everyday

There’s no shortage of famous Indian names in technology — the CEOs of Google, Microsoft and Adobe are all Indian, and Indian CTOs are scattered across Silicon Valley. But there are some Indians who’ve invented tech products that we use every day — and they aren’t nearly as well known as their high-flying CEO counterparts. The co-inventor of the USB is Ajay Bhatt, who’d invented it while employed with Intel in 1995. “Anytime (my family) wanted to…

Ahmedabad Restaurants To Stop Taking Orders From Swiggy To Protest High Commissions

Ahmedabad Restaurants To Stop Taking Orders From Swiggy To Protest High Commissions

India’s Uber and Ola drivers have been going on strike for a while now, but this might be that first time that its restaurants are going on strike. The Gujarat Hotel and Restaurant Association has declared that they will not accept orders on Swiggy in Ahmedabad starting from Friday. The association is unhappy with the 22 percent commission that Swiggy charges on its orders, and are demanding that Swiggy fix what they call are “unreasonable…

Bill Introduced In Indian Parliament To Allow Employees To Reject Office Calls After Working Hours

Bill Introduced In Indian Parliament To Allow Employees To Reject Office Calls After Working Hours

It isn’t just your doctors and wellness gurus asking you to switch off after work — the Indian Parliament has got your back as well. NCP member Supriya Sule has presented a private member bill in Parliament on the 28th of December which would allow employees to refuse work-related calls and emails beyond office hours and holidays. The Right to Disconnect bill, as it’s called, requires companies to detail out-of-work demands “as a way to reduce stress…

Ola Could Acquire Myra Medicines To Start Off Its Own Medicine Delivery Arm

Ola Could Acquire Myra Medicines To Start Off Its Own Medicine Delivery Arm

Thus far, Ola had been saying that it will look to own all aspects of India’s mobility experience, but it could have its sights set even higher. Ola could acquire medicine delivery startup Myra medicines and enter the medicine delivery space, sources told Mint. Myra had been founded in 2013 by Anirudh Coontoor and Faizan Aziz, and delivers medicines to users who order them on its platform. “This is part of Ola’s strategy where they want to get…

Paytm Sends Users Strange “Hey” Notification, Apologizes For Error

Paytm Sends Users Strange “Hey” Notification, Apologizes For Error

It’s always nice when a multi-billion dollar corporation says Hi to its users, but the effect is somewhat lost when it follows it up with a “ghvkjfjg”. A bug in Paytm’s systems appears to have sent a notification saying “Hey ghvkjfjg” to many of the people who’d had its app installed. Users were surprised when they received the notification, which appeared like a normal Paytm notification from Paytm on their phones, but with the strange text…

Binny Bansal’s Fund 021 Capital Raises Rs. 222 Crore From Azim Premji Foundation, Former Flipkart Execs

Binny Bansal’s Fund 021 Capital Raises Rs. 222 Crore From Azim Premji Foundation, Former Flipkart Execs

Post their exits from Flipkart, both Bansals now seem to be fully prepared for their new stints as Venture Capitalists. 021 Capital, in which Binny Bansal is the largest investor, has closed a round of $32 million (Rs. 222 crore) in funding. o21 Capital (read as Zero to One Capital) was launched in 2017, and is run by Sailesh Tulshan, who’s Binny Bansal’s financial advisor. The fundraise has come from investors like Wipro chairman’s Azim Premji…

Zomato Says Zomato Gold Now Has 7 Lakh Paying Subscribers

Zomato Says Zomato Gold Now Has 7 Lakh Paying Subscribers

For a product that was launched just around a year ago, Zomato Gold sure seems to have come a long way.  Zomato has said that Zomato Gold now has 7 lakh paying subscribers. Zomato says it has 6,000 restaurants signed up on Zomato Gold, and this number is up from 4,000 in October. At that time, Gold had 6 lakh subscribers. Zomato Gold had been launched in December 2017, and offered its subscribers either a free…

Tim Cook Writes To Apple Employees After Company Loses $450 Billion In Market Value In 3 Months

Tim Cook Writes To Apple Employees After Company Loses $450 Billion In Market Value In 3 Months

Apple had been riding high until October this year — its stock was at an all-time high at $232, it was the most valuable company in the world, and it had become a trillion-dollar company. But just three months later, the story has changed dramatically. On Thursday, Apple cut its revenue guidance for the first time in two decades on the back of slowing iPhone sales. The stock markets didn’t take this well — its…

India’s Small Restaurants Have Now Spoken Out About The Anti-Competitive Policies Of Zomato And Swiggy

India’s Small Restaurants Have Now Spoken Out About The Anti-Competitive Policies Of Zomato And Swiggy

The fractious relationship between India’s traditional businesses and the tech platforms they now operate on is now coming apart at the seams. After cab drivers had carried  strikes again Uber and Ola, and small hotels had protested the policies of Oyo and MakeMyTrip, 500 of India’s small restaurants have come together to speak out against what they claim are the anti-competitive policies of food delivery companies like Zomato and Swiggy. They’ve signed an online petition which…

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