BUSINESS
Flipkart performing well with sustainable GMV growth in Q1 despite COVID: Walmart
At Flipkart, monthly active customers and users are key metrics, and we're performing well, said C Douglas McMillon, president, chief executive officer and Director, Walmart Inc. The group's fintech firm, PhonePe, reported a 150 percent growth in annualised total payment value run rate as compared to the previous year.
BUSINESS
COVID-19: Mild symptoms and not getting a hospital bed? Step into an Oyo, Treebo or Fab hotel
More hospitality firms launch primary health care facilities equipped with doctors and oxygen concentrators; comes at a time when their core business is witnessing a major slump
BUSINESS
Pine Labs raises fresh funds at $3 billion valuation
Pine Labs claims to be serving more than 150,000 merchants across Asia and the Middle East.
BUSINESS
COVID-19: Uber has given 70,000 free rides to Indians going for vaccinations
Uber is offering free rides worth Rs 10 crore for vaccination in 34 cities, and has tied up with state authorities, central government and NGOs to help people get the jab
BUSINESS
Unicorn an artificial thing, success of startups cannot be ascertained on basis of valuations, says Ronnie Screwvala
The pandemic has shown that the real sense of positivity and comfort comes from closeness between employees. You need to have that personal touch. And I think, organizations who have that personal touch are being able to communicate
BUSINESS
Setting Sail | Here's why Ronnie Screwvala thinks a unicorn is an artificial thing
In the latest episode of the Setting Sail podcast hosted by Moneycontrol's Priyanka Sahay, Screwvala talks about the growth expected in the ed-tech segment, his vision for upGrad, his startup and how the second wave of the pandemic is impacting the corporates in India.
BUSINESS
COVID-19 impact: Oyo announces four-day workweek, infinite paid leaves
Oyo joins the league of another homegrown firm Swiggy, which last month announced a similar move.
BUSINESS
Centre will not wade into essential vs non-essential debate for now even as e-commerce firms struggle with ad hoc rules
Even as various states prescribe varying guidelines, e-commerce companies such as Amazon and Flipkart are in a spot given that there is no central list for what's essential and what's not.
BUSINESS
Semiconductor shortage triggers rise in smartphone prices
Higher input costs and scarcity of semiconductors have made smartphones dearer, but the demand for mobile phones has also fallen because of the disruption caused by the second wave of the pandemic.
BUSINESS
Soonicorn BharatPe raises Rs 50 crore in debt funding from Northern Arc Capital
BharatPe's last institutional round of funding happened in February which valued the company at $900 million.
BUSINESS
This week in start-up funding: startups witness Seed and Series A deals
Startup funding tapered this week after multi-million dollar rounds in the previous weeks
BUSINESS
Swiggy to prioritise Genie deliveries following second wave of COVID-19
The company witnessed a 350% increase in the delivery of OTC medicines through Swiggy Genie in the last 15 days compared to the same period last month.
BUSINESS
Ready to eat foods see huge uptake amid Second COVID-19 surge in India
Since mid-February, packaged foods have witnessed a spike of up to 80%, frozen foods up to 500% and packaged milk and milk products 150%, according to a Grofers spokesperson; demand for preventive care supplies such as masks and sanitisers shoot up
BUSINESS
Here's a list of top 10 executives who will become millionaires when Zomato goes public
Zomato currently counts 74 stakeholders with at least 18 people having shares of more than 1 percent or more of the paid-up share capital of the company, with founder and chief executive officer Deepinder Goyal holding a 5.5 percent stake. The value of the equity held by him stands at Rs 2,734 crore.
BUSINESS
NCLAT hears Oyo subsidiary's case on May 4 -- Here's all you need to know about the issue so far
The admission of a corporate insolvency case can have serious consequences for the company, impacting its goodwill, reputation, daily operations, and management. It also open the doors for various creditors to file claims against the firm
BUSINESS
COVID-19 impact: Swiggy announces four-day workweek for employees in May
The company has also set up a pandemic support mechanism and an emergency support team to assist employees during this crisis.
BUSINESS
Amazon, Flipkart allowed to deliver only essential goods for one week in Delhi
Curfew has been imposed in Delhi with effect from 10:00 pm on April 19 to 5 am on April 26.
BUSINESS
This week in start-up funding: It is raining unicorns
Ten Indian startups have become billion-dollar valued companies or unicorns in the first four months of 2021. Of this, six turned unicorns this week on consecutive days.
BUSINESS
NCLAT stays corporate insolvency proceedings against Oyo subsidiary
The NCLT plea had been filed by a Gurgaon hotelier, who had accused the company of defaulting on payments and violating an agreement. The NCLAT ruling has now halted a ruling by the Ahmedabad bench of the NCLT initiating corporate insolvency proceedings against the subsidiary, OHHPL.
BUSINESS
A look at Amazon’s legal troubles in India
Global Amazon is battling issues ranging from working conditions to unionisation efforts to abuse of dominance with private label launches in markets such as the US and Europe. Here is a look at the controversies and legal troubles that plague Amazon’s operations in India.
BUSINESS
PlayShifu raises Rs 124 crore in Series B round, valued at Rs 500 crore
Founded in 2016 by Vivek Goyal and Dinesh Advani, PlayShifu makes educational toys powered by Augmented Reality.
BUSINESS
Swiggy announces $800 million fund raise through global venture funds, investors
Food delivery app Swiggy has raised $800 million from global alternative asset manager Falcon Edge Capital, Singapore-based fund management firm Amansa Capital and US-based private investment firm, Think Capital in a new round that values it at $5 billion.
BUSINESS
Gig workers union to complain to PM, state govts against Uber & Ola
The union is angry because an Uber driver said he lost his job because the ride-haling app could not recognise his face after he shaved his head at Tirupati, but the company says access to the app was denied for violation of guidelines, not because of his new appearance.
BUSINESS
Oyo to cover COVID-19 vaccination costs for India employees, increases paternity leave duration
The company also announced discounted checkup and access to health coaches while increasing the paternity leave period from two to four weeks.
