Unacademy may see a funding dry spell for at least next 12-18 months and even last till 24 months and will cut costs to weather the lean period, said the chief executive of the education technology unicorn that recently laid off more than 600 employees. "This is a test for all of us. We must learn to work under constraints and focus on profitability at all costs. We must survive the winter," said Unacademy's co-founder and CEO Gaurav Munjal in a letter to the employees. "Winter is here. We are looking at a time when the funding will dry up for at least 12-18 months.
The stock-and-cash deal is the biggest in the education space.
A combination of bank guarantees, letters of credit, buyer's credit for computer servers have been provided to the two local operational arms by Kotak Mahindra Bank and Deutsche Bank.
In his letters to Union environment minister Prakash Javadekar and Railway Minister Piyush Goyal, Thackeray said it would be appropriate to opt for alternative alignment of Akola-Khandwa line considering the long-term irreversible impact the work will have on endangered species like tigers.
The identity of the new investor could not be ascertained.
'Can Trudeau's evidence hold up? If not, he's finished.'
'Any entrepreneur who wants to create companies on blockchain will have to move outside India.' 'A ban will also wipe out the entire asset investing class that has built up in India.'
If divine intervention in 1992 was the heavens opening up against England in their do-or-die game, even the best bookies couldn't have predicted that the Netherlands would beat South Africa in 2022. A handful of them must have made a killing.
Sachin Bansal, who had co-founded Flipkart with Binny Bansal in 2007, would exit the company
The state government says Ola was using its existing cab aggregator licence to promote bike taxi services.
Fresher hiring is expected to more than double compared to last year.
A bench of Justices BR Gavai and Vikram Nath was told by the Centre in its application moved by additional solicitor general Aishwarya Bhati that a status report in this regard will be filed before the court within six months on the basis of the advice of the experts on the tanslocation of Asiatic lions from Gir to Kuno.
This is the sixth consecutive markdown in the valuation of Flipkart by the US firm.
The silver lining is that after two years, e-commerce has emerged as the top sector with $689 million in investments across 15 deals, accounting for 43 per cent of all investments in January 2021.
In India, where it is tougher to do business, a start-up gets established by the Series-B stage, and it gets expensive for investors.
Fresh capital will help Flipkart further grow its e-commerce marketplace in India as the world's second-largest internet market begins to recover from the COVID-19 crisis.
The company did not disclose the valuations at which funds were raised.
More than Indian exporters, it is Indian business families based in Sri Lanka and Hong Kong which have exploited the Bangladesh advantage
As the curtain come down on 2022, Roshmila Bhattacharya flashbacks to some of the year's news-makers and events.
Their startup investments number 13 so far, compared to 17 deals in 2020.
US taxi-hailing firm raises the money from Saudi Public Investment Fund to support global expansion.
Live lessons help students strengthen their JEE preparation. They can also track their progress over time, identify strong and weak areas, get insights on overall test-taking strategy.
India's shift towards US companies for technology investments and partnerships fits well with the present government's 'Atmanirbhar Bharat' and 'Make in India' initiatives, say experts.
Flipkart has not been able to process with its plans of getting into the grocery vertical and is stuck on running pilots in select cities.
'Why does a State that sees a national security issue at every turn not recognise the seriousness of the data from sensitive databases being breached?'
Grant Thornton reports says total value of deals in 2013 crosses $8 bn, up 34% from the year-ago period, momentum likely to continue
The advance bookings of Brahmastra are looking very good.
Khosla said 85 per cent of Indian e-commerce firms were over-valued.
Talk to any member of the cabin crew on any Indian airline and you will hear the worst horror stories. Almost always, the targets of abuse in the air are female staff members who are called 'servants' or worse, points out Vir Sanghvi.
Though startups find 17 mentions in the Budget speech of the finance minister, and have been promised tax exemptions, the reality is that only 2 per cent of the 4,648 applications received from startups for income tax exemption had been approved as of February 2019, according to an answer to a Parliament question. As India's startup space bubbles with activity - new, young players are tapping into opportunities opening up - there are local anti-portfolio stories circulating about investors missing opportunities in 'unicorns', or companies that have reached valuation of $ 1 billion, says Vandana Gombar.
For some teams, this will be the start of their quest for World Cup glory but for others, it will be the culmination of what has already been a long journey.
'With just 2.4 per cent of global landmass, India houses six to eight per cent of planetary biodiversity and hence is a prime target of wildlife criminals.'
Dravida Munnetra Kazhagamchief M Karunanidhi on Wednesday said Sri Lanka's Defence Secretary Gotabhaya Rajapaksa's statement -- that Liberation Tigers of Tamil Eelam's cadres were still trying very hard to revive the conflict -- was aimed at diverting the world's attention from the alleged human rights violations in the island republic.
Most Indian start-ups and e-commerce are largely funded by foreign investors
Becoming a unicorn is surely a marker for a company in its growth story, but it's not a major achievement nor is it a turning point of any significant worth.
With Nikesh Arora's exit from Softbank, India's start-ups have lost one of its biggest supporters.
Ola was supposed to expand to the Netherlands, Kenya, Dubai, Israel, and Brazil.
Homegrown chat application Hike messenger on Wednesday said it will offer free voice calls to its users over 2G, 3G and wi-fi services across the globe in over 200 countries.
The RBI's decision to hike the benchmark interest rate will make home loans costlier and affect housing sales, especially in affordable and mid-income segments, according to property consultants. The RBI on Wednesday hiked the key benchmark rate by 50 basis points. Property consultancy firms Anarock, Knight Frank India, JLL India, Colliers India, India Sotheby's International Realty and Investors Clinic said that the RBI's move was on the expected line to control inflation and this would result in an increase in interest rates on home loans.
Sri Lankan President Mahinda Rajapaksa's address at the ceremony to pay tribute to the War Heroes on May 23, 2009
