Of the 23 companies, eight have raised funds after Shark Tank India.
Three marquee exits accounted for nearly 60 per cent of the total exit value -- BillDesk's acquisition by PayU for $4.7 billion, Paytm's $2.5 billion initial public offering (IPO), and Zomato's public market debut of $1.3 billion.
After a recent fall in profit, Masayoshi Son of SoftBank announced that the Japanese tech investor will look at dramatic cost-cutting. Before he does that, investments in India for calendar year 2022 (CY22) will fall radically, observed sources in the know. Last year, the company had invested around $3.2-3.5 billion in the Indian start-up ecosystem - almost 10 per cent of the total investment the sector received. For CY22, the investments may not even touch $1 billion.
Falling valuations, slowing funding rounds and faltering investor sentiment seem to have prompted many start-ups to lay off employees in a bid to conserve cash. The latest to do so is SoftBank-backed Cars24, a leading e-commerce platform for pre-owned vehicles, which has laid off over 600 staff, according to sources in the know. The move, they said, is aimed at conserving cash amid cautious investor sentiment and a slowdown in funding.
In the past few days, many companies, including fashion e-tailer Nykaa, food delivery platform Zomato, logistics and delivery firm Delhivery, insurance discovery platform PolicyBazaar, eyewear retail chain Lenskart, and edtech and online tutoring firm Byju's, have openly spoken about their IPO plans.
Union Minister of Commerce and Textiles Piyush Goyal has stirred up a hornet's nest by taking on India Inc, specifically the Tata group, which is among the companies that lobbied against the Modi government's pro-consumer draft e-commerce policies. While Goyal's comments, made at a Confederation of Indian Industry (CII) event, were streamed live on YouTube, the industry lobbying body later edited the video and subsequently withdrew the entire speech. Goyal had said the Tata group and other Indian companies often lobbied for their interest, while ignoring national interest.
The development comes amid a growing clamour for the boycott of Chinese products in India, combined with the government's push for Aatmanirbhar Bharat.
Each of the centres will have facilities such as Wi-Fi, air conditioning, free housekeeping services, locker facilities, and CCTV surveillance
Naukri.com's Hiring Outlook Survey for 2020 reveals the jobs and sectors that saw a surge in demand during the pandemic.
The new-age tech-savvy buyer is seeking new shopping experiences. They need to be engaged. Indian retailers are still playing catch up with these customers.
The ban in India would hit Chinese internet companies that were making headway in the world's fastest-growing mobile market.
Tata has emerged as a major venture capital investor since his retirement.
Snapdeal to acquire GoJavas for Rs 200 cr, say sources.
The expansion into smaller towns is coming at a time when the online retail space has not only seen consolidation but is actually looking to collaborate with physical stores. Abhineet Kumar reports.
"If telecom changed the game for how business was done in India, then we need 20 more of those systemic game-changers to take us to the next level," Ronnie Screwvala tells Pavan Lall.
SBI Cards on Tuesday launched a credit card especially meant for transactions on e-commerce websites.
Protesters on Twitter have begun asking people to boycott Ola's service, as mark of disagreement with the company's views
If you use customised cards that suit your lifestyle needs, you could also end up availing of a variety of deals, rewards, and discounts.
No longer an in-house task; hiring legal eagles is now becoming norm for M&As, fundraising
More and more companies are warming up to the idea of reverse mentoring.
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