In a post on LinkedIn, co-founders Aprameya Radhakrishna and Mayank Bidawatka announced that the platform will be discontinuing its services to the public, as talks for a partnership with multiple larger internet companies, conglomerates and media houses did not yield the desired outcomes.
Tiger Global-backed Koo, an Indian alternative to Twitter, has laid off 30 per cent of its workforce of 260 employees in the last year as the budding firm, like many other start-ups in the country, battles global headwinds. "It's important for businesses of all sizes to adopt efficient and conservative approaches to see this period through. "In line with this, we have acted on some role redundancies by letting go of 30 per cent of our workforce over the course of the year," said a Koo spokesperson.
Koo has so far raised $4.1 mn in Series A funding from existing investors Accel, Kalaari Capital, Blume Ventures and 3one4 Capital.
The Chinese investor in the parent firm of Koo, India's answer to Twitter, is on its way out after other investors have pledged to buy out its 9 per cent stake, Koo's co-founder and CEO Aprameya Radhakrishna said.
The term sheet with Flipkart could be signed within this week and the due diligence for the deal would commence immediately thereafter.
Vani Kola left behind a stellar career as an entrepreneur in the US.
He seems to have struck a chord with young entrepreneurs.
Koo, which works on similar lines as Twitter, was born with a focus on regional language, unlike Twitter and Facebook, which are very popular but primarily cater to an English-speaking audience, reports Neha Alawadhi.
CashKaro.com works with online retailers like Amazon.in, Paytm, Jabong and ShopClues
Tata made personal investments in four companies last year.
If the deal goes through, Snapdeal founders will get $60 million (cumulative), of which half will be given to employees.
Sabse has several patents in the arena of call-control and switching of calls.
Credit Vidya helps lenders assess credit and fraud risk for thin-file and new-to-credit customers.
Mobile payments alone gathered close to $1.51 billion in the year 2017 through 13 rounds of funding, according to data compiled by Tracxn
One in three professionals in India is burnt out due to increased workload and stress, as the pandemic forces them to work remotely, even as the majority of the workforce feels they would want to return to work in some form, a study by professional network LinkedIn has found. LinkedIn on Tuesday launched findings of the "Future of Work" perception study by research firm Censuswide that focuses on the insights of 1,108 respondents in the age group of 16 to 68, who have worked from home during the pandemic due to Covid-19 restrictions. The survey captures the sentiment of the Indian workforce towards the impact of remote work, their plans to return to work, and work model preferences for the future.
French security researcher Robert Baptiste posted a screenshot suggesting the micro-blogging platform that offers a Twitter-like experience in Indian languages had Chinese connections.
Snapdeal has a number of shareholders including Ontario Teachers' Pension Plan, PremjiInvest, Ratan Tata, Foxconn, Temasek and BlackRock, among others.
His presence matters more than the money he brings.
Live commerce, quick commerce, group buying, WhatsApp commerce, dukaantech have made their mark.
The new round values the company at $2.5 billion, more than double the over $1 billion valuation Dream 11 enjoyed in April 2019 when it was declared the country's first gaming unicorn.
Simplilearn said the pandemic had accelerated demand for skills in areas such as artificial intelligence, cloud computing, data science and cybersecurity.
Earlier, Holachef had raised a seed fund of Rs 2 crore or Rs 20 million from India Quotient in February 2015.
Tata Group's Chairman Emeritus Ratan Tata has invested in online furniture company Urban Ladder, making it his second personal investment in an e-commerce firm after Snapdeal.
Chinese sponsorship became a bone of contention after the BCCI declared it would review the deals following the violent clashes between the armies of both the countries in eastern Ladakh.
Start-ups such as Max Wholesale, Jumbotail and ShopKirana are helping them place orders, maintain inventory, optimise delivery routes and make payments, all digitally.
The Tata Sons' chairman emeritus has been aggressively investing in start-ups, ranging from e-commerce firms to cab aggregators
Vani Kola, Karthee Madasamy, T V Mohandas Pai also invest in the media startup
Even at early stage, start-ups are raising more money faster owing to the rise of a lot of specialised early-stage VCs and emergence of seed-stage programmes.
Users send a message on the app and a virtual assistant responds.
FirstCry is omni-channel player with presence across desktop, mobile and offline routes offering baby and maternity products in India.
'I've been backing businesses in the e-commerce space because they enable goods and services to reach people who could never have been catered to in this manner before.'
'India has tremendous potential for digital ventures,' says Ratan Tata.
Arundhati Bhattacharya, the chairperson of country's largest bank SBI, has been named as the most-powerful woman in business in India by Fortune magazine.
'Our technology is going to help Indian agriculture the way the White Revolution helped milk production.'
Following their passion paid off for Harsh Jain and Bhavit Sheth with their fantasy sports platform Dream11 entering the unicorn club with a valuation of over $1 billion.
Designing is another critical area for him, especially in the business of furniture.
Snapdeal has been on the deal street for raising fresh funds in order to muscle up for the growing competition in e-commerce.
Snapdeal had appointed merchant bankers for listing on an American stock exchange
While the redeployment of talent from companies that have shut down into other start-ups is a great move, some say the gesture is gaining more visibility than the actual companies
No longer an in-house task; hiring legal eagles is now becoming norm for M&As, fundraising
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