BUSINESS
After Zomato, Swiggy gets ready to join BNPL bandwagon
Buy now pay later has become a prominent mode of payment in the last few years especially among youngsters. Unlike other forms of lending, BNPL is a low-cost short term credit which does not require a credit score.
BUSINESS
HC rejects Zostel's plea for 7% stake in OYO
The High Court has rejected Zostel's plea claiming 7 percent shareholding in OYO ahead of the latter's initial public offering.
BUSINESS
BharatPe CEO Suhail Sameer to employees: Business won't get affected by existing allegations, trust the board
BharatPe CEO Suhail Sameer has requested them to “trust” the board of the company.
BUSINESS
Hundreds of BharatPe resumes flood the market as worried employees look to exit
Employees across functions including business, operations, and products have been applying to other companies as many are in disbelief over the murky details spilling out of the company and about its co-founder Ashneer Grover in the last few weeks.
BUSINESS
Zomato to double down on quick commerce, lines up $400 million for two years
Zomato is also setting up a non banking financial company which will offer short term credit to the delivery partners and restaurants.
BUSINESS
Xpressbees turns unicorn after raising $300 mn from Blackstone, TPG, ChrysCapital, others
"While $100 million has come as primary, $200 million is secondary," Amitava Saha, founder and chief executive officer, told Moneycontrol in an interaction.
BUSINESS
BharatPe appoints early investor Insight Partners' lawyer on its board
Insight Partners had invested in BharatPe in 2019 and has around 10 percent stake in the fintech firm which, of late, has been in deep troubles following a spat with founder Ashneer Grover.
BUSINESS
Livspace turns unicorn with $180 million funding led by KKR
Existing investors including Ingka Group Investments (part of largest IKEA retailer Ingka Group), Jungle Ventures, Venturi Partners, and Peugeot Investments also participated in the Series F funding round.
BUSINESS
Livspace has lined up aggressive geographical expansion and acquisition plans: founder Anuj Srivastava
"Over the next few years my consumer will actually start utilising AR and VR and what is called metaverse in very immersive sort of formats"
BUSINESS
Livspace raises $180 mn in funding round led by KKR, turns unicorn
The company is looking to acquire younger startups and has already evaluated a few in the direct to consumer and content-oriented demand aggregator space
BUSINESS
Why BharatPe needed to hire PwC to oust Ashneer Grover
Co-founder Ashneer Grover and his wife Madhuri Jain Grover can only be ousted if a report by a Big 4 audit firm indicts them, experts say
BUSINESS
Former Twitter India boss Maheshwari's Invact Metaversity raises fund from Kishore Biyani, Kirthiga Reddy, others
Maheshwari, who quit Twitter in December, did not disclose the size of the round but said he diluted less than 15 percent equity
BUSINESS
Suhail Sameer continues to be CEO, board member of BharatPe: co-founder Shashvat Nakrani
Ashneer Grover is co-founder and managing director of BharatPe, a company that was better known for its QR code aggregator
BUSINESS
Board is yet to receive interim or final governance review report, has followed due process, says BharatPe
The statement comes after Ashneer Grover told Moneycontrol in an interaction that the board was arm twisting him into exiting the company.
BUSINESS
BharatPe governance review: Here are the key takeaways from Alvarez and Marsal's preliminary report
The governance audit by risk advisory firm Alvarez and Marsal found that payments were made to recruitment consultants and vendors that did not exist and names Ashneer Grover's wife Madhuri Jain Grover.
BUSINESS
Exclusive: Ashneer Grover demands Rs 4,000 crore to leave BharatPe
Alvarez & Marsal and PwC are conducting a governance audit of BharatPe, examining allegations of fraudulent and related party transactions
BUSINESS
Exclusive: Board is arm-twisting me to exit BharatPe, says Ashneer Grover
Ashneer Grover has alleged that the board feels he will go from being the biggest strength to their biggest liability because he is headstrong.
BUSINESS
Exclusive: Suhail Sameer manipulated me into going on leave, says BharatPe founder Ashneer Grover
BharatPe founder Ashneer Grover has added a new layer of controversy, calling CEO Suhail Sameer the board's puppet, as communication lines among founder, CEO, board members and employees seem to have broken down.
BUSINESS
Zomato's Deepinder Goyal sells personal stake in Blinkit to Tiger Global
Zomato has set aside $1 billion to deploy across startups over the next 1-2 years, with a major focus on the quick commerce space
BUSINESS
BharatPe ropes in PwC for governance review alongside Alvarez
While Ashneer Grover was sent on a leave of absence till March-end amid backlash regarding his abusive language to a Kotak employee and toxic culture at BharatPe, his wife also going on leave signified larger issues around governance at BharatPe.
BUSINESS
Union Budget 2022 | No respite for restaurants, left to fend for themselves, says NRAI
Union Budget 2022: NRAI estimates that the food services industry in India declined by 53 percent to Rs 200,762 crore in 2021 from Rs 423,624 crore in 2020
BUSINESS
Budget 2022 | Nirmala Sitharaman announces extended tax benefits for startups
Budget 2022: The finance minister extended the eligibility to March 31, 2023, which is an additional year for the startups.
BUSINESS
What is the Amazon vs Future battle all about? Here's a timeline
The Supreme Court on February 1 set aside the previous orders of the Delhi High Court and remanded the case concerning enforcement of emergency award to the high court to be heard afresh. The development adds yet another twist to the bruising battle between Amazon and the Future Group.
BUSINESS
EconomicSurvey: India recognised 14,000 new startups in 2021, 555 districts in India had at least one new startup
The country generated a record 44 unicorns in 2021 taking the overall tally of unicorns in India to 83 with most being in the services sector
