BUSINESS
Food delivery growth has slowed down, overhiring was poor judgment: Swiggy founder Sriharsha Majety
Swiggy founder Sriharsha Majety emphasised that during the past year, several additional pockets of employees were added as a result of scale-up, which increased the company's 'communication overheads' and compromised its agility.
BUSINESS
Swiggy lays off 380 employees as startup winter deepens
Apologising for the move, Swiggy founder and CEO Sriharsha Majety has said the company will shut down its meat marketplace as it takes a harder look at some of its verticals
BUSINESS
Delhi court tells Ashneer Grover to not create third party rights on BharatPe shares
Fresh trouble for Ashneer Grover as co-founder claims back 3% of BharatPe shares
BUSINESS
Zerodha’s Nithin Kamath: It has been a painful bull market for active traders
Zerodha founder talks about where the equity market is heading, passive mutual funds being undersold, the worst that is yet to happen in the startup funding winter, fixed deposits and a lot more.
BUSINESS
BharatPe gets in-principle approval from RBI to operate as online payment aggregator
A payment aggregator provides payment services to merchants and e-commerce sites by accepting payment instruments from customers. They pool the funds received from customers and transfer them to merchants after a certain time.
BUSINESS
How BharatPe racked up Rs 5,594 crore loss in FY22
Almost 85 percent of the loss amount was because of change in value of preference shares
BUSINESS
Exclusive: Ashneer Grover claims he was threatened at BharatPe AGM; raises concerns over Rs 315 crore ESOPs to top brass
According to Ashneer Grover’s letter, the AGM was rushed, and questions about the company's financial dealings were not answered. BharatPe rebuts saying 'these are retaliatory and diversionary tactics' in response to lawsuit
BUSINESS
Outgoing BharatPe CEO Suhail Sameer to set up venture capital fund
Suhail Sameer will set up a venture capital fund with two friends and invest in consumer brands, consumer tech, and fintech startups.
BUSINESS
BharatPe CEO Suhail Sameer to step down; CFO Nalin Negi to take over reins in interim
The company’s Board of Directors has retained a leading executive search firm to assist with succession planning and the critical CEO search
BUSINESS
Govt releases draft online gaming rules for public consultation
These draft regulations come at a time when India's gaming sector has seen unprecedented growth in terms of app downloads and revenue
BUSINESS
Meesho cuts monthly cash burn by 90% to $4 million, still has half a billion dollars in bank
The e-commerce unicorn’s monthly cash burn was $40 million in January this year
BUSINESS
Mamaearth IPO: Five key highlights from its DRHP
The beauty and personal care company is looking to raise Rs 400 crore through a fresh issue of shares, apart from an offer for sale of around 4.7 crore shares
BUSINESS
Amid funding winter, here are the startup honchos who bought prime real estate in 2022
Zapkey data shows that 11 startup founders and executives bought houses worth a total of Rs 507 crore this year
BUSINESS
How the Jio juggernaut turbocharged the start-up ecosystem
Jio compelled the competition to offer data at dirt-cheap rates, and helped grow internet usage in India exponentially, thus helping build a large and attractive market
BUSINESS
Chennai startups brave funding winter, raise $1 bn in a year for the first time
Delhi-NCR was the worst-hit by the funding crunch in 2022 as the total funding to its startups dropped by 52 percent to USD 5 billion. Bengaluru retained its pole position as the most attractive destination for venture capital, with USD 11.7 billion, Tracxn data showed.
BUSINESS
Data protection law will force behavioural shift on intermediaries: Rajeev Chandrasekhar
'There will be no opportunity for deemed consent to the private sector. That door is triple-locked. If you want some data, take consent,' says Union Minister
BUSINESS
Traders' body says 50,000 mobile shops have shut because of illegal practices by e-commerce firms
The Confederation of All India Traders (CAIT) alleges unholy nexus between e-commerce platforms, banks and mobile brands, and points out that while 8 percent of global mobile phone sales happen through e-commerce, this number is much larger in India at 58 percent.
BUSINESS
Friction is desirable in fintech. We don’t want to walk the path of fastest finger first: Google Pay exec
Google Pay director of product management Sharath Bulusu talks about fintech regulations, its approach to personal data protection, designing fintech products for user safety, and more
BUSINESS
India's tech policy should balance safety and trust with certainty and innovation: Sundar Pichai
Google CEO to meet PM Modi and talk about AI and startups later today
BUSINESS
We're not looking to expand to more cities in the short term: Zomato Hyperpure head
Hyperpure chief Rakesh Ranjan talks to Moneycontrol about the challenges in the business, growth levers, and the road ahead
BUSINESS
With 820 million internet users, India deserves to shape its own internet destiny: Rajeev Chandrasekhar
The Union minister says the government would not strongly regulate the internet, but is committed to the principles of open, safe, trusted and accountable internet
BUSINESS
WeWork India revenue grows 70% to Rs 1,300 crore in 2022 on high occupancy
CEO Karan Virwani says that the company is looking to become more asset light by experimenting with different operating models
BUSINESS
MC Exclusive: DoT may make it mandatory for telcos to share KYC details with OTTs
Such a provision will help OTTs display the verified name of a caller. The government is of the view that this will help in reducing impersonation and frauds, according to sources
BUSINESS
BharatPe files arbitration for claw back of Ashneer Grover’s unvested shares, founder title
Grover holds roughly 8.5 percent stake in BharatPe, of which 1.4 percent was not vested and was released on the date of his resignation.
