Major shareholder Kinnevik, a Swedish investment firm, devalued Quikr by 45%, referring to the exaggerated revenue resulting from fraudulent transactions that rocked the company. Quikr is now valued at about $577 million.
India's online listing space is witnessing phenomenal growth.
When Quikr.com, a Mumbai-based online and mobile classifieds firm, recently raised Rs 550 crore ($90 million) from foreign investors, the company drew attention like never before.
With its free listing of goods and services, Facebook could disrupt the paid model adopted by classified players in the country, say Ayan Pramanik and Raghu Krishnan.
The company has said the funds raised will be used to invest in product development and expansion of its fast-growing mobile business.
Capital markets regulator Sebi on Wednesday said it will auction 27 properties of Rose Valley group of companies on November 25 at a reserve price of Rs 63.26 crore in a bid to recover money raised by the firm from the public through illicit schemes. The properties to go under the hammer include flats, buildings, land parcels and hotels located in West Bengal and Bihar, the Securities and Exchange Board of India (Sebi) said in a notice. The e-auction will be conducted on November 25 between 11 am to 1 pm.
The drying up of funds for a number of start-ups is affecting the firms' unicorn status across the globe. The past six months have seen the valuations of 147 unicorns drop, of which 71 were from the US and 29 from China, according to the latest Hurun Global Unicorn Index 2022. Eighty-one unicorns from across the globe saw their valuations drop below $1 billion-the threshold for a start-up to be labelled unicorn-from last year.
Markets regulator Sebi on Thursday said it has lined up three properties of Saradha Group of Companies for an auction on December 16, at a reserve price of Rs 5.21 crore. The move is part of Sebi's efforts to recover money raised by the company from the public through illicit schemes. In a notice, the Securities and Exchange Board of India (Sebi) said the auction will be conducted between 11 am to 12 pm on December 16, 2022. The properties to go under the hammer include land parcels located in West Bengal.
Markets regulator Sebi on Friday said it has lined up as many as 69 properties of Saradha Group of Companies for an auction on November 1 at a reserve price of Rs 30 crore. The move is part of Sebi's efforts to recover money raised by the company from public through illicit schemes. In a notice, the Securities and Exchange Board of India (Sebi) said the auction will be conducted between 11 am to 1 pm on November 1, 2022.
The labour ministry on Thursday held discussions with representatives of private job portals, including Naukri, Monster, LinkedIn, Indeed and TimesJobs. The ministry held discussions towards strengthening the 'Employment and Skilling Ecosystem' in India, an official release said. Sunil Barthwal, secretary, ministry of labour and employment held a meeting on 10th February 2022 with representatives of the top private job portals of the country, the release said.
With aggressive brand-building initiatives, the companies' advertising budgets ahead of Diwali is understood to have seen a 15% spike
Homegrown start-ups like UrbanClap and AtHomeDiva will now have to compete with the global e-commerce giant. Anita Babu reports.
Quikr founder & CEO Pranay Chulet tells Raghu Krishnan and Bibhu Ranjan Mishra why money has never been an issue for Quikr and that someday he will make a romantic comedy.
Modi will get the maximum chunk of the session time.
Online portals have become the preferred tool.
Market experts have valued Housing.com at $700 million.
Online platforms can help buyers and sellers get a fair price and assurance on the car's health.
High penetration of internet, increased use of smartphones help the cause of top e-commerce firms, leading to a rapid rise in their valuations.
These days, one frequently hears of consolidation, rollback and even closure from the start-up world.
Consolidation is happening because of a prolonged slowdown in residential sales which has also brought down the business of brokerages.
Most e-commerce firms offer aggressive discounting and freebies, with specific purchases.
In a base case, the consultant said that sales could drop 25 per cent to 1.96 lakh units this year from 2.61 lakh units in 2019 across seven major cities -- Delhi-NCR, Mumbai Metropolitan Region, Kolkata, Chennai, Bengaluru, Pune and Hyderabad.
Higher advertising spends to grab customer eyeballs take a toll on startups across segments
Byju's has emerged as the leader in the Indian education-tech sector. They are pioneering technology shaping the future of learning for millions of school students in India.
The investor has now put together a fund of $3.75 billion to back private companies.
In about a year, top e-commerce companies are expected to raise as much funds as the three sector leaders raised in about five years.
Vikramank Singh looks back at the year gone by!
In the January-March period of last year, an amount worth $1,179 million was invested across 103 transactions.
Access to capital for sub-standard companies is on the decline
Unlike many peers in the VC space, LSE grad Juneja doesn't have an entrepreneurial background but is said to be strong in finance skills
IndiGo is providing digital solutions to everyday problems, attracting customers to digital platforms and engaging start-ups to find solutions
Nearly 150 companies visited the campus this year.
Invests $1.1 billion in 6 months, against $3.7 billion in 20 years
Agriculture implements that are currently taxed up to 18 per cent may come under the 12 per cent or the 5 per cent bracket.
Internet retailer Amazon and its fast-growing local rivals are driving a boom in commercial property leasing in India.
Idea is to bring millions of small and medium enterprises online by making it easy for them to list and sell.
It's aimed at new-age sectors like e-commerce and other startups so that they can spend less time in their recruitment processes
E-commerce, Rs 1,000 crore (Rs 10 billion) as an advertising category, is expected to bring at least Rs 200 crore (Rs 2 billion) in ad spending next month, when there would be both Dussehra and Diwali.
One of the reasons behind the changing trend is that the applicants are spoiled for choice
Investors spent much of 2016 cleaning house. And a VC tells Ranju Sarkar, "There's still some bad news left in the portfolios (of VC firms). What happens to Ola and Flipkart will drive sentiment in future."
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