Aryaman Gupta

All stories by Aryaman Gupta

Q3 sees startups turn a profitable corner

Q3 sees startups turn a profitable corner

Rediff.com23 Feb 2024

The third quarter (Q3) of 2023-24 (FY24) has proven to be pivotal, witnessing some startups turning profitable and others enhancing their performance as their businesses finally begin to deliver. Startups like Delhivery, Zomato, PolicyBazaar, Mamaearth, and Nykaa have either become profitable or improved their profit margins in Q3FY24. A renewed focus on profitability, supported by operational efficiencies, expense rein-in, and robust demand during the festival season, has empowered companies to strengthen their performance.

Fintech major PhonePe takes on Google, Apple with homegrown Indus Appstore

Fintech major PhonePe takes on Google, Apple with homegrown Indus Appstore

Rediff.com22 Feb 2024

Fintech major PhonePe on Wednesday announced the launch of its homegrown Indus Appstore specifically for the Indian market, in a bid to compete with global incumbents like Google Play Store and Apple's App Store. The Indus Appstore is PhonePe's attempt at creating a more competitive and localised mobile app store economy for India, which is already the world's largest market for mobile apps.

UpGrad's founder blames Raveendran, investors for current state of Byju's

UpGrad's founder blames Raveendran, investors for current state of Byju's

Rediff.com16 Feb 2024

Byju Raveendran, chief executive officer (CEO) and co-founder of Byju's, along with its nearly 51 investors, are responsible for the beleaguered edtech firm's current predicaments, said Ronnie Screwvala, executive chairman and co-founder of edtech platform UpGrad. Speaking at the second edition of the ASU+GSV & Emeritus Summit in Gurugram, he emphasised that "one rotten apple" should not affect the entire edtech sector.

Valentine's week: E-com giants record high demand for roses, chocolates

Valentine's week: E-com giants record high demand for roses, chocolates

Rediff.com12 Feb 2024

Leading up to Valentine's Day on February 14, quick-commerce platforms like Blinkit and Swiggy Instamart have witnessed a phenomenal uptick in the sales of products related to the occasion, such as roses and chocolates. Meanwhile, e-commerce giants like Amazon and Flipkart have gone live with their respective Valentine's Day sale events, offering generous discounts on products. Sales of chocolates and roses on Zomato-owned Blinkit shattered previous records at the beginning of this year's Valentine's Day week, on February 7, which is celebrated as Rose Day.

Revealed: Swiggy, Ola, Flipkart's IPO Plans

Revealed: Swiggy, Ola, Flipkart's IPO Plans

Rediff.com7 Feb 2024

Layoffs, corporate restructuring, governance and most importantly profitability: The 14 Indian startups that plan IPOs this year are pulling out all the stops to ensure successful market debuts.

Temple fever grips Indians, lifts travel demand and hotel bookings

Temple fever grips Indians, lifts travel demand and hotel bookings

Rediff.com20 Jan 2024

Online travel portals are flooded with flight and train bookings, hotels teeming with requests for accommodation, and spiritual merchandise on e-commerce platforms is selling like hotcakes. As the consecration ceremony of Ram Mandir in Ayodhya on January 22 draws near, Indians across the country are putting their travelling boots on as the temple frenzy catches on. India's largest travel technology (traveltech) platform MakeMyTrip (MMT) has witnessed a substantial four-fold increase in bookings for Ayodhya compared to the previous year.

Lack of domestic capital a hurdle for startups: Infosys co-founder Murthy

Lack of domestic capital a hurdle for startups: Infosys co-founder Murthy

Rediff.com19 Jan 2024

The availability of domestic capital to fund startups and an ability to attract talent in the early days are among the biggest challenges faced by entrepreneurs, Infosys co-founder N R Narayana Murthy said on Thursday. "It is desirable to create a policy that makes it attractive for domestic institutions like family offices of HNIs (high net-worth individuals), insurance companies or large corporations to invest in venture capital funding," he said at the T N Chaturvedi Memorial Lecture 2024 in New Delhi's Prime Ministers' Museum and Library.

Tech IPO Boom With Easing Headwinds

Tech IPO Boom With Easing Headwinds

Rediff.com8 Jan 2024

'The success of one or two IPOs does not dictate whether the upcoming IPOs will be successful or not, but it certainly indicates that the markets and investors are enthusiastic about startup IPOs.'

Angels continue to shine the light on fledgling firms

Angels continue to shine the light on fledgling firms

Rediff.com2 Jan 2024

At a time when the Indian startup space is going through a funding winter, marked by investors tightening their purse strings, angel investments in fledgling firms have maintained their momentum. While overall deal volumes among startups have fallen, investment activity among the country's most-active angel investors have been relatively steady. We Founder Circle (WFC), a Mumbai-based network of angel investors, emerged as the most-active angel investment platform for the second consecutive year in 2023 with 82 investments.

Zomato gets Rs 402 cr GST notice over delivery fee

Zomato gets Rs 402 cr GST notice over delivery fee

Rediff.com29 Dec 2023

Food delivery major Zomato has received a Rs 401.7 crore show cause notice from the Directorate General of GST Intelligence (DGGI) over 'unpaid taxes' on delivery charges collected from customers, the company said in a regulatory filing late on Wednesday. The company claimed that it is not liable to pay the penalty for the period from October 29, 2019, to March 31, 2022, as the amount collected from customers is "on behalf of the delivery partners during the referred period."

Have Zomato, Swiggy finally figured out the right recipe?

Have Zomato, Swiggy finally figured out the right recipe?

Rediff.com22 Dec 2023

Something is cooking in online food delivery. After 15 years of grappling with the demands of the business - read cash burn - Gurugram-based Zomato reported its first profit in the first quarter of 2023-24 (FY24). Not satiated, it reported a profit in the following quarter as well: Of Rs 36 crore in the second quarter compared to Rs 2 crore in the first. A year ago, in the second quarter of FY23, it had reported a loss of Rs 251 crore.

Entrepreneurs, $20 Bn Is Waiting For You

Entrepreneurs, $20 Bn Is Waiting For You

Rediff.com22 Dec 2023

'In the next 15-20 years, India will have at least 50 new (AI-driven) billion-dollar companies that are going to solve problems for the largest companies around the world.'

'We can deliver market-beating growth'

'We can deliver market-beating growth'

Rediff.com6 Dec 2023

'We will continue to build new engines of growth in terms of innovations, enter newer categories, and look at newer propositions.'

Festive Season To Create 700K Gig Jobs

Festive Season To Create 700K Gig Jobs

Rediff.com17 Oct 2023

'The World Cup alone is expected to create an additional 100,000 jobs, most of which will comprise gig workers in the delivery space, transportation, hospitality and event management.'

Tides turning for India's startups?

Tides turning for India's startups?

Rediff.com3 Oct 2023

The recovering valuations, will lead to enhanced optimism among investors about funding startups.

Oyo's India CEO, Europe head resign ahead of IPO

Oyo's India CEO, Europe head resign ahead of IPO

Rediff.com7 Sep 2023

IPO-bound hospitality major Oyo's India Chief Executive Officer (CEO) Ankit Gupta and the head of its Europe business Mandar Vaidya have resigned. A company spokesperson told Business Standard that the two had moved on from their roles six months ago in March 2023. During the same period, Oyo had rejigged its top management, where the company's COO Abhinav Sinha was reassigned as Chief Product and Technology Officer, while Chief Business Development Officer Anuj Tejpal was reappointed as Global Chief Merchant Officer.

With Zepto Becoming First Unicorn of 2023, is Funding Winter About to Thaw?

With Zepto Becoming First Unicorn of 2023, is Funding Winter About to Thaw?

Rediff.com7 Sep 2023

Quick commerce startups hope to race towards better days. Can they crack the execution code?

Zerodha's Kamath brothers to invest Rs 100 crore in Nazara Technologies

Zerodha's Kamath brothers to invest Rs 100 crore in Nazara Technologies

Rediff.com5 Sep 2023

The board of Nazara Technologies, a listed online gaming company, has approved the issue of shares worth Rs 100 crore to firms managed by Zerodha founders Nikhil and Nithin Kamath, the company said in a regulatory filing on Monday. The company is proposing to issue 1,400,560 equity shares at a face value of Rs 4 each, for Rs 714 per equity share. This will amount to Rs 99,99,99,840 and will be proportionately allotted to M/s Kamath Associates and M/s NKSquared.

Crypto unicorn CoinSwitch lays off 44 employees citing role redundancy

Crypto unicorn CoinSwitch lays off 44 employees citing role redundancy

Rediff.com30 Aug 2023

The move comes barely a week after fellow crypto unicorn CoinDCX laid off 12 per cent of its workforce - an estimated 80 employees - amid challenging macroeconomic conditions and regulatory uncertainty in the sector. CoinSwitch has 519 employees, according to its LinkedIn profile. This means around 8 per cent of its workforce were shown the door.

Titan set to buy out Esops of CaratLane staffers for Rs 350 crore

Titan set to buy out Esops of CaratLane staffers for Rs 350 crore

Rediff.com22 Aug 2023

Tata Group-owned Titan, which has agreed to purchase founder Mithun Sacheti's stake in CaratLane for Rs 4,621 crore, is planning to buy employee stock options (Esops) of the jewellery retailer's employees for around Rs 350 crore. This will take Titan's ownership in the company to 100 per cent. CaratLane reportedly has around 1,500 employees, most of whom do not own shares in the company.

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