If you think that revenue officials are going berserk, acting on their own, while the government chants the mantra of 'ease of doing business', you would be wrong. These moves appear to have full official backing, points out Debashis Basu.
India may get its first unicorn this year as Zepto, which promises 10-minute deliveries, is in talks to get fresh funding that would take the start-up's valuation past $1 billion. The quick-delivery firm is looking to raise $150 million in a series E round, which will take its valuation to $1.3 billion. The round will be led by StepStone Group, a limited partner (LP) of Zepto's existing investor, Nexus Venture Partners, said media reports.
'On the road, you see only youth in Swiggy, Big Basket and Zomato uniforms.' 'Just now, I had a delivery from Amazon, and do you know what his qualification was? He was an engineering graduate!' 'The Ola driver who took me to the airport had an MCom degree. 'Where is the match between education and employment?'
SoftBank-backed Inmobi has fired about 50-70 people on performance metrics. According to a source, the employees impacted are from Inmobi and the firm's lock screen-based content provider Glance. This comes even as the company announced that it will skip increments for CY23 and also undertake recruitment only when required. The Inmobi group has a total headcount of 2,600.
India overtook China to add the most number of new unicorns--start-ups valued at $1 billion or more--in the first half of 2022 despite a funding winter haunting entrepreneurs in the south Asian nation. India added 14 new unicorns in the period (H1 2022) and China had 11, according to the Hurun Global Unicorn Index 2022. The US led the ranking by adding 138 start-ups in the unicorn club.
According to Swiggy, Indians ordered an average of 95 biryanis per minute.
When you heart would like to throw health to the winds and craves for bite-sized treats that are packed with in unhealthy calories.
'Given that the market is now demanding disciplined growth, well-run companies should be able to demonstrate profitability with the cash on hand.'
Food delivery firm Zomato Ltd said on Wednesday most stores of its grocery unit Blinkit had resumed operations after being shut following protests by delivery partners. "Over the last few days we have made changes in the delivery partner payout structure with respect to the Blinkit business to address the needs of delivery partners, improve customer experience and reduce cancellation/ order rejection frauds by few delivery partners in the system. "Such changes are done from time to time, as needed," said the company in a letter to the BSE.
'Nobody wants to run an exploitation factory.'
The policeman abused and slapped the food delivery person twice, and snatched his mobile phone, while also damaging the motorcycle, the video recorded by another commuter showed.
Given that there has been no negative news flow around Zomato, analysts believe it's time to lap up the shares at lower levels.
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.
Since home-delivered meals from five-stars are cheaper by 15 to 20 per cent as compared to eating at the destination outside, food delivery has emerged as an important part of every restaurant's service portfolio.
Japanese tech investor SoftBank may end up investing around $1 billion in India in 2022, nearly a third of what it did last year, according to people closely tracking its plans. Last year, SoftBank undertook investments of $3.2 billion in 12 deals. In the first five months of CY22, the giant investor has invested $400-500 million in five deals.
The two obvious best choices are to combine OTT viewing time with some good eating, because Joe, Rishi and Co don't have to be the only ones dining well.
Fairwork focuses on five principles of fair gig work: Fair pay, fair conditions, fair contracts, fair management, and fair representation.
The plea was mentioned for urgent listing before a bench headed by Chief Justice DY Chandrachud, which said it would be listed on February 24.
From using Artificial Learning to Machine Learning to deploying drones food delivery platforms are going all out to reach the extra consumer, says Peerzada Abrar.
The IPO will be sometime in the first half of next year.
Probe has allegedly found calculation errors by Amazon. The company paid higher GST but instead of claiming refund took wrong input tax credit.
Use a "virtual credit card" for every online transaction when you can't pay cash on delivery.
Zwigato urges viewers to think critically about the kind of unethical behaviour that food delivery workers have to put up with on a daily basis because of insensitive customers, observes Chintan Girish Modi.
The online world is filled with love gurus promising to teach "how to woo someone in minutes", unlike those who talk about the need to do the self-work.
Byju's, Flipkart, PharmEasy and CRED, among others, have taken the acquisition route to grow
The Code on Social Security, 2020 gives a lot of comfort to gig firms which recognise cab drivers or food delivery executives as 'independent contractors' who directly do business with customers with the help of their digitised platforms.
Indian startups received about $6.5 billion in funding in the April-June 2021 quarter, while 11 of them entered the coveted unicorn club, a report by Nasscom-PGA Labs said. During the second quarter, 160 funding deals were closed -- up 2 per cent from the January-March period. "Q2 2021 has been impeccable for the start-up growth story. From being the most funded quarter, it has also added the most number of unicorns. "Standing tall during the pandemic second wave headwinds, Indian start-up ecosystem has shown a strong resilience in this quarter," the report said.
On the whole, the case for Period Leave is compelling. It may well bring more women into the workforce. But the concept will likely be hostage to the whims of enlightened companies, notes Kanika Datta.
The Supreme Court on Friday refused to entertain a PIL seeking a direction to all the states to frame rules for menstrual pain leave for female students and working women at their respective workplace, observing that the issue falls under the policy domain of the government.
A far cry from his playing-to-the-gallery comedian, Kapil Sharma emerges as a heartfelt picture of aspiration and annoyance, feels Sukanya Verma.
Swiggy, a Bengaluru-based food ordering and delivery start-up, says it aims to revolutionise this segment.
'For the likes of Zomato or Swiggy or Foodpanda or similar others, the customer has been sensitised for all times to the perils of the food pack being pilfered.' 'An important matter of trust has been exposed. And that really has been the biggest downer of this entire episode,' points out marketing guru Sandeep Goyal.
Cook your meat simply and don't overdo the spices. A little extra ghee works miracles.
The cloud kitchen market in India will hit $1.05 billion by 2023. Just 13% of the total market has been utilised so far.
Foodpanda delivery executives were assured they could make Rs 50,000. There were promises made on surge and demand. But the demand never kept up with the supply.
The GST Council in its meeting next week is likely to consider a proposal for making changes in the monthly tax payment form -- GSTR-3B, which would include auto-population of outward supplies from sales return and non-editable tax payment table, officials said. The move would help curb the menace of fake billing, whereby sellers would show higher sales in GSTR-1 to enable purchasers to claim input tax credit (ITC), but report suppressed sales in GSTR-3B to lower GST liability. Currently, GSTR-3B of a taxpayer includes auto drafted input tax credit (ITC) statements based on inward and outward B2B supplies and also red flags any mismatch between GSTR-1 and 3B.
Digital payment solutions provider Paypal on Friday said it will stop offering domestic payment services within India from April 1.
If you have seen Zwigato, Param Kumar's story will sound familiar. Laid off from his job as a repairman at a Gurugram-based water purifier provider, he now delivers groceries and food for a mobile-based delivery app, in Delhi. Kumar, who started making deliveries last August, told Business Standard that he is working longer hours than his older salaried job as an RO repairman, and has no paid leaves or health insurance. Kumar is part of India's estimated 7.7 million-strong force of gig workers.
