According to sources, employees from marketing, ad-tech, category, digital marketing, engineering team, catalogues, have all been asked to leave.
'There is need for India-specific pricing.' 'Google, Microsoft and others also have different pricing.' 'It is important for OpenAI to think on these lines as the global pricing may not work in the Indian context.'
Two years after his dismissive stance on India's AI potential raised eyebrows here, OpenAI CEO Sam Altman on Wednesday gave a ringing endorsement to Artificial Intelligence momentum in the country -- and billed India as an important market not just for the new-age technology itself but for the ChatGPT creator as well. In New Delhi on Wednesday, Altman -- while sharing dais with Union IT minister Ashwini Vaishnaw -- said India is the second biggest market for the company and that Open AI had tripled its users here in the last year.
Kunal Shah has funded over 266 startups including Razorpay, Snapdeal, Zetwork, BlueSmart, Unacademy, Bliss Club, and Spinny, amongst others.
SoftBank-based e-commerce marketplace Snapdeal has deferred its Rs 1,250 crore IPO, joining the list of startups that have decided to shelve their initial public offering (IPO) plans this year. Snapdeal, which competes with Amazon and Flipkart, filed a request this week with the Securities and Exchange Board of India (Sebi) to withdraw its draft red herring prospectus (DRHP) amid a sell-off in tech stocks worldwide. "Considering the prevailing market conditions, the company has decided to withdraw the DRHP. The company may reconsider an IPO in the future, depending on its need for growth capital and market conditions," a Snapdeal spokesperson said.
Beauty and Personal Care (BPC) e-retailer Honasa Consumer's initial public offering (IPO) has failed to find backing from analysts due to the company's weak financial track record and expensive valuation. T Manish, research analyst at Samco Securities suggests avoiding the IPO as the company's financial performance does not inspire confidence. "The profit has been inconsistent and advertising and marketing expenses are incredibly high at around 40 per cent of the revenues.
N R Narayana Murthy, co-founder of Infosys, blamed the venture capitalist community for inculcating a culture among entrepreneurs to chase growth at all costs. He said the VC model of investment looked like a ponzi scheme. "I would hold venture capitalists responsible who propounded the theory that only the top-line is important and not the bottom-line. "I think that is completely wrong. In many ways it looks like a ponzi scheme.
Snapdeal chief executive officer Kunal Bahl said Piramal's investment was a significant endorsement for the firm and the transformation the company has undergone over the last couple of years.
India is the next major breeding ground for start-ups.
E-commerce platform Snapdeal has filed preliminary documents with markets regulator Sebi to raise funds through an initial public offer (IPO), joining the league of internet-led businesses looking to list on domestic stock exchanges. The public issue comprises fresh issuance of equity shares worth Rs 1,250 crore and an offer for sale (OFS) of 3.07 crore equity shares, according to the draft red herring prospectus (DRHP). According to market sources, potential listing could value Snapdeal at about $1.5-1.7 billion.
The turmoil, if you read the headlines, is about the so-called funding winter. Deep down, though, the question is one of the common direction in which founders and investors need to pull, points out Suveen Sinha.
Snapdeal is conducting due diligence on ShopClues, a move that may lead to a potential acquisition of the latter, which may bring in a fresh infusion of funds for the new entity.
JM Financial, Axis Bank, and Bank of America have been roped in as the bankers to run the mandate, say sources.
Founders should have faith in themselves, their vision and their team, feels Infosys founder Narayana Murthy.
Every shopper dreams of getting the best discount. Now, imagine if you can avail of this discount at the click of your mouse.
Modi will get the maximum chunk of the session time.
Snapdeal's rival Flipkart had last announced its GMV in March this year -- $1 billion. Many rounds of funding later, sources estimate Flipkart's GMV at about $3 billion, a figure Snapdeal is trying to catch up with.
The co-founder of Snapdeal was talking a day after he signed an agreement with Tata-run Croma
The Kunal Bahl-led firm wants to add 1,000 sellers every three months in its loan scheme.
Second Tata firm to join hands with e-commerce portal.
Prime Minister Narendra Modi had announced the policy last month.
The move will establish a level-playing field for domestic investments in start-ups compared to foreign-based sources.
Snapdeal has a number of shareholders including Ontario Teachers' Pension Plan, PremjiInvest, Ratan Tata, Foxconn, Temasek and BlackRock, among others.
While Tata Sons' Chairman Emeritus Ratan Tata has made an investment in e-commerce company Snapdeal, he is not involved in its functioning.
Internet entrepreneurs are the next big thing in India.
Snapdeal's Kunal Bahl tells team to follow DMart example. Sources close to the company says Snapdeal plans to launch an IPO by 2019.
Snapdeal CEO Kunal Bahl said those who do not perform will have to leave.
The Bombay High Court had revoked the ban on Maggi on October 19 paving the way for it to be back on shelves.
Snapdeal said on Wednesday it bought online mobile recharge firm Freecharge for an undisclosed amount.
Infibeam appointed Kothari as president, strategy, corporate development, international operations, and investor relations.
Snapdeal had appointed merchant bankers for listing on an American stock exchange
Celebrating Kisan Diwas, e-retailing firm Snapdeal on Tuesday announced the launch of "The Agri store", offering products like seeds, fertiliser and irrigation tools.
For the traditionalists, wars on Twitter and Facebook smack of immaturity.
The founding members of The E-Commerce Council of India include Snapdeal, ShopClues, UrbanClap, Shop101, Flyrobe and Fynd, among others.
Even as their venture Snapdeal is clocking rapid growth, Kunal Bahl and Rohit Bansal are mentoring young entrepreneurs.
Indian start-ups and software product companies are trying to attract engineers and programmers who are either stranded in India because of the lockdown or H-1B visa holders who have been laid off.
As per market estimates, the new round would value the city-based firm at about $ 4-5 billion.
India seeks greater market access for its products including textiles, pharmaceuticals and bovine meat.
Snapdeal to acquire GoJavas for Rs 200 cr, say sources.
Finance Minister Nirmala Sitharaman on Tuesday unveiled a Rs 39.45 lakh crore Budget with a view to fire up the key engines of the economy to sustain a world-beating recovery from the pandemic. This was Sitharaman's fourth Budget. While the taxpayers were left in the lurch, once again, was she able to cheer Corporate India?
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances