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Snapdeal&paytm_re

Why a potential Snapdeal-Paytm merger makes perfect sense

Will they? Won’t they? Rumours come and go, but those around India’s third-largest e-commerce company Snapdeal’s merger refuse to die down, even though the suitors keep changing. For instance, not too long ago, the Jasper Infotech Pvt. Ltd-run company was in the news for exploring ...

18 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 »

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Ola, Uber drivers go on strike in Bangalore as talks fail; one attempts suicide

As the latest round of talks between driver representatives and cab-aggregators failed, drivers associated with taxi-hailing companies Ola and Uber have launched a fresh round of agitation in Bangalore. One of the protesters attempted suicide outside Ola office by consuming poison. He has been rushe...

16 February, 2017 | More »

fitness

Weight-loss startup Obino acquires fitness app Fitard

Mumbai-based Manna Healthcare Pvt. Ltd, which runs weight loss coaching app Obino, has acquired Fitard, a reward-based fitness tracking app, it said in a statement. It did not disclose the deal value. The fitness app rewards users with Fitcoins, a virtual currency, on completion of targets. These Fi...

16 February, 2017 | More »

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Online payments startup Razorpay turns profitable as sales rise 10-fold

Jaipur-registered online payment gateway startup Razorpay Software Pvt. Ltd has turned a profit in financial year ending March 2016, filings with the Registrar of Companies (RoC) show. The company posted a profit after tax of Rs 28.7 lakh for the year, compared with a loss of Rs 4.1 lakh in FY15. Ne...

15 February, 2017 | More »

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Losses at Sequoia-backed Faasos widen four-fold as expenses mount

Pune-based quick service restaurant chain and online food delivery company Faasos Food Services Pvt. Ltd saw losses widen four-fold in financial year ended March 2016, mainly on account of higher expenses, show filings with the Registrar of Companies (RoC). Losses for FY16 stood at Rs 111.1 crore co...

15 February, 2017 | More »

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Ola, Uber services affected as drivers go on strike in Bangalore

Taxi-hailing services of Ola and Uber have been partially affected by a strike called by various unions protesting a recent hike in driving licence and other fees by the Regional Transport Office (RTO), apart from the flexible fare structure followed by cab aggregators and falling incomes of driver...

15 February, 2017 | More »

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BookMyShow buys 75% stake in Pune-based DIY events platform Townscript

Bigtree Entertainment Pvt Ltd-owned BookMyShow has acquired 75% stake in Pune-based DIY (Do-it-Yourself) event registration and ticketing platform Townscript for an undisclosed amount. Townscript will continue to run and operate as an independent entity, a BookMyShow spokesperson told VCCircle. The ...

14 February, 2017 | More »

nazara-game

Nazara Games to set up eSports league for $20 mn

Nazara Technologies Pvt. Ltd, which operates mobile gaming firm Nazara Games, has launched an eSports league in India, for which it would invest roughly $20 million (Rs 136 crore) over the next five years, the company said in a press statement on Tuesday. “Asia-Pacific accounts for 44% of the audi...

14 February, 2017 | More »

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V-Day deal: Dating app Aisle raises fresh funding from CIO Angel Network

Bangalore-based startup Aisle Network Pvt. Ltd, which runs matchmaking app Aisle, has raised an undisclosed amount in fresh funding from CIO Angel Network. Konglo Ventures, White Unicorn Ventures and LetsVenture also participated in the round. The funding was led by Anthony Thomas, former CIO of Vod...

14 February, 2017 | More »