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.
The government on Monday asked online food business operators like Swiggy and Zomato to submit a proposal within 15 days on improving their consumer grievance redressal mechanism amid rising complaints from customers. The department of consumer affairs directed e-commerce FBOs "to transparently show consumers the breakup of all charges included in the order amount such as delivery charges, packaging charges, taxes, surge pricing etc." According to an official statement, "The Department of Consumer Affairs has directed major e-commerce Food Business Operators (FBOs) to furnish the current framework as well as a proposal on improving the consumer grievance redressal mechanism within 15 days."
Poor governance and mediocre short-sighted politics are destroying the paradise that Goa was as its environment, water table, culture and way of life is drastically threatened by tourism and migration, points out Ramesh Menon.
Srikanth said winning for the country was a big motivating factor for the team.
'These reports of cases being very low in other states, is it true? Are the numbers believable?'
Delhi high court on Wednesday asked the city government why websites of app-based cabs cannot be blocked on a PIL alleging that these taxi services were operating despite the government banning them.
IIT Kharagpur gets more than 1,000 job offers in a record five days, with 144 companies visiting the campus till Dec 5
Sindhu leads India to 3-2 win over Hong Kong in Asia badminton Team Championship
India's hopes of winning a medal in badminton team events at the 18th Asian Games went up in smoke after the men's and women's sides bowed out of the competition following identical 1-3 defeats in the quarter-finals in Jakarta on Monday.
The number of ultra-high networth individuals (UHNIs) having an investible surplus of over Rs 25 crore (Rs 250 million) rose 16 per cent to 1.17 lakh last fiscal, and this is estimated to triple to 3.43 lakh in the next three years.
'What India needs isn't propaganda, manipulated news cycles & foolish theories about millennials, but a concrete plan to #FixTheEconomy that we can all get behind,' Gandhi said in a tweet.
Hari Narayanan shares his experience of travelling by an Uber auto to Coimbatore airport.
A grouping of Indian and Indian-origin professionals working with tech giants like Google, Uber, Amazon and Facebook have written an open letter against the new religion-based citizenship law and the planned national register of citizens, terming them as "fascist". The letter by 'TechAgainstFascism' on online publishing platform Medium also urged the leaders to refuse to shut off the Internet at the "government's whim" and to ensure that content moderation is not skewing pro-government.
The mind block against online education is crumbling and the demand may be led not just by parents but also teachers.
India Inc is facing threat from non-traditional sources.
Flipkart's appointment of Kalyan Krishnamurthy as CEO and Ola's choice of PepsiCo's Vishal Kaul for COO speaks to the growing trend of bringing in experienced professionals to run business. Karan Choudhury reports.
The 16-year-old from Gujarat was rewarded for last year's stellar run, which saw her win titles in three junior international tournaments. It enabled her rise three places and take the top position in the BWF junior rankings.
Industry watchers say while it's completely possible for a firm like SoftBank to step in and take control of Ola, it's usually one of the least favoured options.
For India startups, pulling in the reins now may enable them to live longer - even if it means shedding their unicorn status, says Una Galani.
'Ola in India makes money on every ride. Our focus over the past couple of years has been to keep growing the market and our share in the market and build up on sustainable business,' says co-founder and CEO Bhavish Aggarwal.
Sachin and Sara Pilot will be on Simi Garewal's show.
After GM's India exit, Ford-Mahindra 'strategic alliance' under spotlight.
Ola did not disclose financial details of the investment.
In-form PV Sindhu and Kidambi Srikanth will look to break new grounds as they spearhead India's charge for an elusive gold at the 18th Asian Games badminton event which begins with the team competitions, in Jakarta, on Sunday.
Swiggy had in June entered the elite Unicorn club after raising $210 million from a group of investors
Paytm's Rs 18,300 crore IPO was oversubscribed 1.89 times on the last day of India's biggest share sale on Wednesday, making it one of the country's most valued companies. The initial public offering of Paytm's parent company One97 Communications Ltd received bids for 9.14 crore equity shares against the offer size of 4.83 crore shares, according to information available from stock exchanges. While the portion set aside for retail investors was oversubscribed early, institutional buyers including FIIs flooded the share sale with offers on Wednesday, seeking 2.79 times the number of shares reserved for them.
There is an overwhelming sentiment among techies and entrepreneurs from the Silicon Valley who are eager to welcome Modi over the weekend.
New Delhi to push for services trade facilitation & food stockpiling.
Key events that rocked India Inc in 2014 and one of them is Vishal Sikka taking over reins at Infosys.
Swiggy is shoring up capital to defend its position as India's largest food-ordering app as rivals Zomato and FoodPanda focus on growth after receiving funds
Researches reveal that many firms that employ H-1B workers directly, including some of the biggest names in the technology industry such as Amazon, Google, Microsoft, Apple, Qualcomm, Salesforce and Uber, pay a large share of their H-1B workers at one of the two lowest wage levels, Level 1 or Level 2.
Indeed has seen an increase in listings for drivers, food delivery runners, and other service providers.
Hyundai, which is also toeing Maruti's lines, said special schemes are offered to engage the cab aggregators, including annual-maintenance-contract packages and extended warranty.
Moody's Investors Service on Monday said it has assigned a first-time B3 corporate family rating (CFR) to ANI Technologies, which operates ride hailing service Ola. Moody's CFRs are opinions of a corporate family's ability to honour all of its financial obligations. It has also assigned a B3 rating to the company's proposed senior secured term loan.
Rediff readers share their experience about taxis and autorickshaws in India.
Ola was supposed to expand to the Netherlands, Kenya, Dubai, Israel, and Brazil.
Ola said it will not charge commission from drivers for the first two months after the launch, allowing them to retain 100 per cent of their earnings from the platform.
Though fundraisings for startups still rank amongst the biggest deals struck this year, the average ticket size has fallen sharply, says Una Galani.
