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Rajiv Bansal

Ola CFO Rajiv Bansal, CMO Sarup resign

Cab-hailing service Ola’s chief financial officer (CFO) Rajiv Bansal and chief marketing officer (CMO) Raghuvesh Sarup have quit the company, a person directly aware of the development told Techcircle. The person also said that Pallav Singh, senior vice president and one of Ola’s earlies...

9 February, 2017 | More »

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Fashion portal Voonik’s FY16 sales rose twice as fast as its cash burn

Voonik Technologies Pvt. Ltd’s net sales for 2015-16 rose almost forty-fold but losses widened 18 times, as the fashion e-commerce marketplace spent heavily on advertising to attract customers in a sector dominated by Flipkart-owned online retailers Myntra and Jabong. Net sales for the year throug...

8 February, 2017 | More »

PhonePe

Flipkart-owned PhonePe in talks with PayPal to raise funds

Flipkart-owned PhonePe is in talks to raise a significant amount of funding independently at a valuation of about $500 million as strategic investors line up for a slice of India’s booming e-payments market, a national daily reported on Wednesday, citing people aware of the development. A repo...

8 February, 2017 | More »

Uber_big_fe

Exclusive: Uber to take on Ola Shuttle soon with bus, van ride-sharing

Notwithstanding its constant denial, Uber is moving fast on introducing ride-sharing on vans and buses in India, with a likely launch of the service within three months, according to two persons in the industry briefed on the matter. San Francisco-based Uber, the world’s most valued startup, is th...

7 February, 2017 | More »

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Govt drafting policy for e-wallets, m-banking to mitigate cyber fraud risk

The Ministry of Electronics and Information Technology (MeitY) is drafting a policy on mobile wallets and mobile banking to mitigate the risk of cyber fraud. Besides, to instil confidence among those who conduct digital transactions, the government is also considering insurance protection against cy...

7 February, 2017 | More »

TravelTriangle

Holiday marketplace TravelTriangle raises $10 mn in Series B funding

Online travel agent marketplace TravelTriangle has raised $10 million in Series B funding led by Singapore-based RB Investments. The funding round also saw participation from existing investors SAIF Partners and Silicon Valley venture fund Bessemer Venture Partners. Noida-based Holiday Triangle Trav...

7 February, 2017 | More »

Jonathan Bullock

SoftBank COO Jonathan Bullock quits Snapdeal, Ola boards

SoftBank Group COO and managing director Jonathan Bullock has resigned from the boards of its two biggest investee companies in India, Snapdeal and Ola, a statement from the Japanese telecom and Internet conglomerate confirmed on Monday. Mint had reported, citing a regulatory filing, that apart from...

6 February, 2017 | More »

Uber launches cab-rental service UberHIRE in 8 cities

Uber launches cab-rental service UberHIRE in 8 cities

Taxi-hailing company Uber on Monday launched its on-demand car-rental service UberHIRE in eight cities, through which users can book a cab for as long as 12 hours, said a company statement. The service, which saw a successful pilot in Kochi, is being rolled out today in Delhi, Bangalore, Chennai, Mu...

6 February, 2017 | More »

myntra_fe

Myntra clocks sales of Rs 850 crore in January

Flipkart-owned Myntra registered sales of over Rs 850 crore ($126 million) in January, including those from its recently acquired unit Jabong, a financial daily reported on Monday. Buoyed by its ‘End of Reason Sale’, the online fashion retailer hit an annual revenue run rate of $1.6 bill...

6 February, 2017 | More »

Sharanya_fe

Budget 2017: Acche Din for India’s digital economy

“Digital payments are to finance what the wheel is to transport,” so began the Watal Committee report that came out in December 2016. Rightfully recognising that we are on the cusp of a massive digital revolution, the finance minister in his budget speech outlined various proposals that ...

3 February, 2017 | More »