The murmurs in entrepreneur circles about funding slowdown is still persistent. There are talks about bursting the startup bubble. The flames of uncertainty is still recurring, on top with the change of dynamics in startup ecosystem. However, when the country’s economic growth and purchasing power of people are on synchronized rise, there can be no dearth of funding. 2015 was a very good year, and 2016 is for taking things slow. But there is no stopping for the VC companies. Read our list of the top 10 most funded startups and get a dose of motivation for free!
After lots of small startups had proliferated the Indian hyperlocal services space, the biggies are now coming in in droves. After Quikr had launched its hyperlocal arm, and Facebook had made a bold play in the space, India’s 2nd biggest e-commerce company, Snapdeal, has launched its own version of hyperlocal services.
The battle for the supremacy in India’s e-commerce market has just been taken into the courtroom. Paytm has filed a lawsuit against Snapdeal-owned company Unicommerce for stealing its confidential data. Unicommerce is a retailer management software firm that allows sellers to see their orders from all major marketplaces, including Paytm, at one place. It was acquired by Snapdeal in March last year. Paytm alleges that as many sellers on Paytm use Unicommerce, it has unlawfully accessed Paytm’s…
Flipkart CEO Sachin Bansal delivered an uncharacteristically brutal attack on Snapdeal and Paytm, but it ended up backfiring.
Looking to capture a bigger pie of Indian ecommerce that extends beyond retail, Snapdeal is reportedly in talks with commutech giant Uber. If the partnership goes through, Snapdeal customers will be able to book an Uber ride through the Snapdeal app.
The Snapdeal protests, which broke out at Snapdeal’s Sarita Vihar office 2 days ago, have just gotten messier. After the agitating employees had approached the CM Arvind Kejriwal’s office, the Delhi government has directed the Labour Department to look into the matter. Snapdeal has requested for a 2 day period to explain its stand to the Labour department.
Protests at Snapdeal’s office have intensified as management and the fired employees have been unable to reach a compromise.
Snapdeal’s former employees are not holding back while criticizing their former bosses.
Incredible scenes were witnessed at Snapdeal’s New Delhi office after the company put 200 of its employees on a Performance Improvement Plan.
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.