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Author Archive ‘ Dearton Thomas Hector ’

VCCircle Awards 2017

Practo is consumer internet company of the year: VCCircle Awards

Online healthcare platform Practo Technologies Pvt. Ltd has bagged the News Corp VCCircle consumer internet company of the year award for a disruptive business model that has gone beyond its consumer play into the enterprise space. The winner was decided by an eminent jury chaired by Arun Duggal, ch...

2 March, 2017 | More »

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Uber fires Amit Singhal for not disclosing sexual harassment charge at Google

US-based Uber Technologies Inc. has asked senior vice president of engineering Amit Singhal to resign from the company for reportedly failing to disclose a sexual harassment allegation at his previous organisation Google. Uber’s co-founder and chief executive Travis Kalanick asked Singhal to leave...

28 February, 2017 | More »

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Ola raises $330 mn in fresh round led by SoftBank: Report

Bengaluru-based cab-hailing firm Ola, run by ANI Technologies Pvt. Ltd, has raised $330 million (Rs 2,200 crore) in fresh funding led by existing investor SoftBank Group Corp, a media report said on Monday. Citing sources it did not identify, Business Standard reported that the Japanese tech giant a...

27 February, 2017 | More »

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911—The number that spooked Snapdeal

On Wednesday, Snapdeal founders Kunal Bahl and Rohit Bansal said they will not take salaries for an undisclosed period as the company struggles to survive. Well, that makes financial and ethical sense. It’s ethically right because it takes a large heart to admit mistakes and share the pain of empl...

24 February, 2017 | More »

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Freshdesk plays catch-up with Zoho and Salesforce, launches app marketplace

Chennai-based Freshdesk Technologies Pvt Ltd has launched its own app marketplace for developers and clients, the company said in a press statement. The marketplace allows customers to discover and install apps and helps maximise the capabilities of their helpdesk. Developers can earn revenue throug...

23 February, 2017 | More »

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Snapdeal to lay off 600; founders forego salary

Jasper Infotech Pvt. Ltd, which runs Snapdeal, has decided to lay off 500-600 employees across the e-commerce marketplace and its subsidiaries, mobile wallet Freecharge and logistics wing Vulcan Express, a person aware of the development told Techcircle. The person added that the process of lay-offs...

22 February, 2017 | More »

Yepme

Exclusive: Massive job cuts loom large at Yepme as funds dry up

Delhi-based VAS Data Services Pvt. Ltd, which operates fashion e-commerce firm Yepme.com, is going through trying times with the company looking to reduce headcount by 80-90% and forcing entire teams to resign. Several people that Techcircle has been speaking to for the past few months said on the c...

21 February, 2017 | More »

IDG, Accion to invest more in CreditMantri

IDG, Accion invest more in CreditMantri

Chennai-based online credit management startup CreditMantri Finserve Pvt. Ltd has raised Rs 51.4 crore ($7.6 million) in Series B funding from new and existing investors, it said in a statement. Existing investors IDG Ventures India, Accion Venture Lab and Elevar Equity, and new investors Newid Capi...

20 February, 2017 | More »

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Urban Ladder raises $15 mn from Kalaari, SAIF and others

Bangalore-based Urban Ladder Home Décor Solutions Pvt. Ltd, which runs online furniture store Urban Ladder, has raised close to Rs 102 crore (around $15 million) in a fresh round of funding from existing investors. The investors who participated in the round are Kalaari Capital, SAIF Partners, Stea...

17 February, 2017 | More »

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Uber, Ola clock half a billion rides in 2016, says RedSeer

Ride-hailing companies Uber and Ola carried out approximately 500 million rides in 2016, according to a report by RedSeer Management Consulting, a Bangalore-based consultancy firm. The number of rides by ANI Technologies Pvt Ltd-backed Ola, and US-based Uber Technologies Inc’s India subsidiary Ube...

17 February, 2017 | More »