Some sellers on Snapdeal have filed cases in different courts in the National Capital Region (NCR) for alleged non-payment of dues, barely a year after a failed merger talks with larger rival Flipkart, which prompted the Gurgaon company to go solo with its Snapdeal 2.0 strategy. At least two sellers have dragged Snapdeal's owner Jasper Infotech to courts for non-payment of dues. They should be forced to clear dues of approximately Rs 5 crore due to the complainant.
Global private equity giant Blackstone is selling its entire shareholding in Indian freight company Gateway Rail Freight to the latter's parent company, container logistics firm Gateway Distriparks Ltd, for Rs 810 crore. Following this transaction, Gateway Distriparks' stake in the rail freight unit will go up to 99.8 per cent. In November 2009, New York-based Blackstone Group invested Rs 300 crore in Gateway Rail Freight.
French startup Riminder recently raised a $2.3 million funding round from various business angels, such as Xavier Niel, Jean-Baptiste Rudelle, Romain Niccoli, Franck Le Ouay, Dominique Vidal, Thibaud Elzire and Fred Potter. The company has been building a deep learning-powered tool to sort applications and resumes so you don't have to. Riminder won't replace your HR department altogether, but it can help you save a ton of time when you're a popular company.
Following the success of the live mobile game show HQ Trivia, a team of serial entrepreneurs have begun testing the market to see if another game show concept can work, too. Their new game show-inspired app, Gravy, is meant to be a riff on the Price is Right combined with a QVC-style shopping experience. In addition, through a side game, users can guess when the product - whose quantities are unknown - will sell out and at what price.
Analytics and AI solutions startup Manthan has partnered with AiBigData Technologies, expanding its footprint in the Canadian region. The partnership will provide CPG and retail businesses in Canada access to analytics solutions with customer focused innovations in AI, Advanced Analytics and Big Data. We are excited to have AiBigData Technologies join our analytics ecosystem as a new Big Data and Analytics consulting partner in Canada, said Sanjay Kupae, Head Alliances, Manthan.
Almost four years after the shutdown of the once-popular social media network Orkut, its founder Orkut Bykkkten introduced yet another social media app - Hello Network - in April this year. We launched Hello to make social social again, and also to make social happy again. Orkut has invented four social networks so far - Club Nexus, inCircle, Orkut and the latest, Hello Network.
Kaltura is expanding its enterprise video platform with the acquisition of Rapt Media. Kaltura isn't the only interactive video startup - for example, I've been impressed by the branching narratives powered by Eko. Rapt Media was founded in 2011 and has raised $12 million in funding from investors including Boulder Ventures. What an honor it is for our vision and technology to be recognized by a video technology powerhouse like Kaltura, said Rapt Media founder and CEO Erika Trautman in the announcement.
Established in 2017, LifeSight is a SaaS-based location intelligence platform that helps brands, retailers and agencies reach offline consumers effectively, optimise media spend and make better business decisions. The SaaS-based location intelligence platform raised the $2 million pre-series A funding from Singapore-based Provident Capital Partners, a prominent investor in South-east Asia. In a statement released to the media, LifeSight's co-founder and chief executive Tobin Thomas said, We created LifeSight with the core aim of democratising location intelligence with an easy to use SaaS platform.
It sounds unusual that SoftBank is asking its portfolio company to onboard two new investors for getting more capital from it. The unusual condition comes at a time when Oyo has been engaged to raise new round up to $700 million for over two months. During the last funding round of $250 million led by SoftBank Vision Fund, the valuation of Oyo was around $850 million. To ramp up its overseas expansion, Oyo had recently kicked-off operations in Dubai as well as in China.
Dot, a new UK startup de-cloaking today, aims to make it easy to invest in property without the hassle of taking out a traditional 'buy to let' mortgage. In fact, Dot's headline draw is that it makes property ownership a one-click affair via the Dot Button it wants to embed on property listings sites, including estate agents and property developers. After those expenses, you receive monthly rent from the property, minus management fees and interest paid on your Dot mortgage.
Healthcare focused fintech startup LetsMD has raised fresh funding from Ravi Garikipati, CTO & Head of Engineering of Flipkart and WaterBridge Ventures including a consortium of other HNIs a syndicated by Singapore-based ThinKuvate and SRI Capital. While the exact investment amount can't be ascertained, WaterBridge Ventures invested about Rs 1 crore and Garikipati participated with Rs 10 lakh. LetsMD is full stack platform to choose doctors, compare prices across hospitals, book appointments and provide loans.
Earlier in the year, CEO Sundar Pichai had announced Google is bringing its Demo Day to Asia and this would be the first time this event will happen in Asia Pacific. With Google's increased footsteps towards Asia, this is the first of the Demo Events which will be held in Shanghai on September 20. The Demo Day works like a crash course of an early-stage startup programme without the months-long training leading up to it.
To push 'Make in India' campaign, the India government saw a massive opportunity in the smartphone market, which has been growing at a double-digit rate in India. The trade agreement, however, opens opportunities for phone makers from China to ship handsets into India via these routes. The Indian Cellular Association president Pankaj Mohindroo said that the handsets which are imported from ASEAN are not made in those countries. In the past few years, the Chinese phone market in India has grown enormously.
The demand for bringing former IT and BT Minister Priyank Kharge back to the same portfolio has risen as Tie Bengaluru Chapter, supported by a number of Bengaluru startups, has written a letter to the Chief Minister HD Kumaraswamy demanding the former Minister back with the same portfolio. Supporting Kharge's policy initiatives, the TiE Bengaluru letter to the CM says, Industry leaders and the startup ecosystem viewed him very favourably.
Unable to pay salaries to hundreds of its employees, a Gurgaon-based private firm said on Friday that it has come up with a novel plan to compensate them by offering them company shares. The idea is to attract elite talents with ESOP in which full-time employees generally earn share as part of their compensation. As a part of the initiative, 15 per cent of the total number of employees have been given this scheme.
Hotel-booking apps such as Urbanpod, Zostel and Backpacker Panda could help you with budget roadtrips, while helping you connect with fellow travellers. Accommodation cost varies between Rs990 to Rs2,500 a night for a person, depending on the categories of pod. The starting price for a bed in the dormitory is 500, depending on the location, said Malik, adding they offer WiFi facility. The company has a similar pricing of 400-900 for a bed a night, with WiFi, locker and other facilities.
Mobile payment services company, MoneyOnMobile Inc., has announced the launch of a new biometric-based ATM cash-out solution. In the initial phase, the company had activated 3,000 units, and expects another 3,000 activations in the coming months. Prior to launch, MoneyOnMobile had over 5,000 MOM ATM units operating in the field. This new biometric MOM ATM leverages both the Open Banking APIs of its banking partners and the Indian government's national identity system known as Aadhaar.
Arvind and Malia are a part of a small informal group of startup entrepreneurs based out of Mumbai trying to help each other out with various CEO-level challenges. In a startup world where there is cutthroat competition, these entrepreneurs believe in lending a small helping hand whenever possible. While he has taught this to this small group of entrepreneurs, he has also learnt that running an open organisation helps.
Amazon India is partnering with Bengaluru-based real estate developer Embassy Group to introduce its virtual voice assistant Alexa to operate smart homes, ET reported. These homes will be part of Embassy Group's residential project Embassy Edge in Bengaluru and will come with Amazon Echo that will be pre-integrated with the devices in the houses.
While most startups have struggled to retain talent, particularly at the CXO level, OYO has stood apart from the crowd. The second thing that stands out at OYO is the role played by ITC, one of India's largest conglomerates. The success of the ISB-ITC mafia within OYO has almost become a credo relating to the company's hiring practices. Ritesh has enabled this culture, identified and recruited this talent, and given them the freedom to execute.