Veterans in the travel industry, a well-known corporate lawyer, and a marquee US-based hedge fund have backed the upcoming low-cost airline Akasa Air. Founded by former Jet Airways chief executive officer (CEO) Vinay Dube, the venture counts ace stock trader and investor Rakesh Jhunjhunwala as its biggest financial backer with an investment of around Rs 300 crore. A person with knowledge of the development said most of the people were well known to Jhunjhunwala and Dube, who approached them during the conception stage.
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An industry source said the funding was part of an overall $500 million the company is planning to raise, which will value Ola at around $5 billion.
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.
As we celebrate International Women's day on March 8, meet the Indian sportswomen who have made the nation proud with their superlative performances in the sporting arena.
More companies with unconventional business models to get into messy legal hassles in India.
Due to unavoidable circumstances, Kishore Singh is forced to become an Uber convert.
Uber said it is conducting a full audit of its verification, rider feedback and support processes apart from assessing its driver screening processes, Ola is getting GPS installed in all its partner taxis.
Most Indian start-ups and e-commerce are largely funded by foreign investors
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.
Tara Sutaria and Ananya Panday up the glam quotient of Hello! mag.
Twenty unions of autos and taxis have formed a Joint Action Committee, which has called for the indefinite strike.
A week after a young executive was allegedly raped by Uber cab driver Shiv Kumar Yadav in New Delhi, Nidhi Shah, who lives in the United States has come forward, saying she had filed a complaint with the cab company against the same driver.
Wayward employee behaviour at Uber and Infosys highlights the risk to corporate reputations.
'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.
Even as the semiconductor shortage has limited the demand for new cars, the pre-owned car segment is seeing a surge. A preference for personal mobility, availability of multiple organised online platforms, including e-commerce channels, aggregators, and classifieds, have been fuelling growth. The growth rate of the pre-owned car market is expected to be 1.5x that of the new car market over the next five years.
'It has taken us 15 years to get to where we are. It obviously doesn't happen overnight.'
Over the past week, several unusual partnerships among start-ups, traditional businesses and hospitals have been announced, and several more are likely to materialise soon. The trend could see increased importance of gig workers, who are taking considerable risk to deliver goods to people in the time of a pandemic.
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.
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.
Swiggy had in June entered the elite Unicorn club after raising $210 million from a group of investors
'The digital trust level has drastically gone up due to Covid, not only in tier-I and II cities, but also in tier-III, IV and V geographies,'
Look at the sunglasses our IPL stars are wearing in the desert.
The police have detained seven persons on charges of rioting following the incident.
The list of what you can and cannot do with this phone is intriguing.
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.
The Tokyo Games, originally scheduled to start in July this year, have been postponed to July 23-August 8, 2021 due to the COVID-19 pandemic and will be followed by the Paralympic Games which will run from August 24-September 5.
Former India badminton coach Vimal Kumar on Tuesday blamed the withdrawals by Asian nations for the postponement of the Thomas and Uber Cup Final, calling it a "big setback" for the sport.
'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.
Is your wardrobe summer-ready yet?
Giovanni Bartocci stood outside Billie Jean King National Tennis Center on Saturday shouting encouragement - and eventually employing a microphone and loudspeaker - as the Italian dismantled opponent Casper Ruud in straight sets on Court 17.
As many as 81 per cent people support having rules for consumer e-commerce, but want more services-based platforms to have more clearly defined roles, a survey by community social media platform LocalCircles has found. The survey asked respondents to answer questions based on the recent draft Rules proposed by the ministry of consumer affairs. The responses found 81 per cent consumers wanting sales of products and services over electronic or digital networks to be governed by a set of electronic commerce rules.
BigBasket co-founder Abhinay Choudhari has exited the company, and in his next entrepreneurial journey, he is looking to "solve another equally painful chore for many Indian households" after grocery shopping. The Tata group acquired a majority stake in the online grocery store in May. And when the deal happened, Choudhari decided he won't continue to be part of the management team.
Janhvi, who is known for her straight long hair, sported a short bob on Cosmopolitan's cover.
'You taught me everything I needed to learn slowly and surely.'
Indeed has seen an increase in listings for drivers, food delivery runners, and other service providers.
We asked you to share your election day style. Here's what our readers shared.
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.
Here's a collection of stories that are weird, yet true!
Lockdown life has forced everybody to stay indoors. But Bollywood celebrities are health conscious as ever ensuring they receive their daily dose of Vitamin D.
