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Mukesh Bansal & Ankit Nagori

Mukesh Bansal, Ankit Nagori to leave Flipkart

Mukesh Bansal, head of marketplace and a board member at Flipkart, and chief business officer Ankit Nagori have decided to leave the e-commerce firm barely a month after a top-level reshuffle that led to a change in the roles of the company’s two founders. “My incredible journey with Myntra and ...

10 February, 2016 |More »


OYO buys Zo, Zostel in all-stock deal; Zo founders quit

It’s official. Budget hotel aggregator OYO Rooms has acquired Tiger Global-backed smaller rival Zo Rooms, OYO’s lead investor SoftBank said in an earnings presentation. A formal announcement is expected in the next two weeks, a person directly involved in the transaction told Techcircle.in. S...

10 February, 2016 |More »


Ola undercuts own TaxiForSure to take on uberGO

Cab-hailing app Ola has rolled out Ola Micro, its newest low-cost riding service, as it looks to strengthen its offerings to retain its edge over main rival Uber. The service will be initially available only to select customers in Mumbai, according to the startup’s website. Ola Micro replaces Ola ...

10 February, 2016 |More »


RentoMojo appoints Munjal Dhamecha as CTO

Bangalore-based Edunetwork Pvt Ltd, which operates home appliances and furniture rental marketplace RentoMojo, has appointed Munjal Dhamecha as its chief technology officer. Dhamecha will work on developing RentoMojo’s automation processes to improve efficiency, the startup said in a statement. He...

10 February, 2016 |More »

Sandeep Amar

Media portal India.com elevates Sandeep Amar as CEO

India Web Portal Ltd (IWPL), which runs India.com and a slew of other online news media properties, has promoted Sandeep Amar as chief executive officer, a company spokesperson said. Amar has been associated with India.com for over two years and previously worked as the company’s chief operating o...

10 February, 2016 |More »


E-tailers must focus on profitability, cut discounts: Panelists at Techcircle summit

Indian e-commerce ventures must shift their focus from revenue expansion to profitability and cut back on discounts to sustain their businesses for the long term, top investors and entrepreneurs said at the Techcircle India Ecommerce Summit 2016 on Wednesday. Panelists who took part in various discu...

10 February, 2016 |More »

Peter Kabel & Dominik Gyllensvard

Exclusive: German angels scout for Indian startups

At a time when European investors mostly remain apprehensive about the Indian startup ecosystem, a group of German angel investors is building a portfolio of early-stage ventures in India. The Asian E-Commerce Alliance (AECAL), a seed fund co-founded in 2014 by Germany-based digital entrepreneurs an...

10 February, 2016 |More »


Social networking startup Affimity gets $1.2M in angel funding

Social networking startup Affimity said on Wednesday it has raised $1.2 million (around Rs 8 crore) in an angel round of funding from Silicon Valley investors and its founders. The Bengaluru- and San Francisco-based company didn’t disclose the names of the investors in a press statement. The com...

10 February, 2016 |More »


2015 was year of survival in hyperlocal space: Panellists at Techcircle India Ecommerce Summit

The fun has just begun for the startups in the hyperlocal and on-demand services space as the focus has turned towards unit economics and profitability, and the investors have started asking tough questions, said panellists at the 8th session of the Techcircle India Ecommerce Summit 2016 on Wednesda...

10 February, 2016 |More »


Anti-virus software maker Quick Heal’s IPO oversubscribed around 10 times

The initial public offering of Sequoia Capital-backed anti-virus software maker Quick Heal Technologies Ltd was oversubscribed 9.68 times led by institutional investors, high net-worth individuals (HNIs) and corporate investors who bid aggressively on the final day of the issue. Non-institutional in...

10 February, 2016 |More »


Budget salon aggregator GlamStudios raises seed funding

Delhi-based GlamStudios, which claims to be India’s first online aggregator of budget salons, has secured an undisclosed amount in seed funding from former Rategain COO Aqeel Ahmed, it said in a statement. Glam Online Pvt Ltd, the company that runs the startup, will use the money raised for reach...

10 February, 2016 |More »


Online lending platform Capzest raises $200K from Lion Ventures, others

Wiseworks Technology Pvt Ltd, which runs digital lending platform Capzest, has raised $200,000 (around Rs 1.4 crore) in a seed funding round led by Lion Ventures. Investors who participated in the round include Anurag Mehrotra, founder of Lion Ventures; Varun Dua, co-founder and CEO of Coverfox; Ami...

10 February, 2016 |More »


When a top Silicon Valley VC (and Facebook director) touched a raw nerve on India

Leading venture capitalist Marc Andreessen fueled a Twitter storm on Wednesday by equating India’s recent decision to ban services such as Facebook’s Free Basics with the benefits of colonialism. “Anti-colonialism has been economically catastrophic for the Indian people for decades. Why stop n...

10 February, 2016 |More »


Wearables startup GOQii raises funding from VC arm of Edelweiss

GOQii Inc, a wearable devices startup launched by Indiagames founder and former CEO Vishal Gondal, has raised an undisclosed amount from the venture capital arm of Edelweiss Financial Services Pvt Ltd. The investment round comes two months after Goqii raised $13.4 million (around Rs 90 crore) in S...

10 February, 2016 |More »


Govt mulls 100% FDI in e-commerce marketplaces

The government is considering permitting 100 per cent FDI in the market place format of e-commerce retailing with a view to attract more foreign investments. The norms on foreign direct investment (FDI) in the sectors of e-commerce, and IT and ITeS are expected to be part of detailed guidelines, whi...

10 February, 2016 |More »

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