911—The number that spooked Snapdeal

Snapdeal-Boxes_feOn 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 employees, many of whom are losing […]

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

freshdeskChennai-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 through integrations and extensions. It enables flow of information between Freshdesk and […]

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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 has already started and will continue for “the next few […]

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

YepmeDelhi-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 condition of anonymity that both VAS Data […]

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IDG, Accion to invest more in CreditMantri

IDG, Accion to invest more in CreditMantriChennai-based online credit management startup CreditMantri Finserve Pvt. Ltd is set to raise Rs 51 crore ($7.6 million) in Series B funding from new and existing investors, said a report in a financial daily on Monday. Citing filings with the Registrar of Companies (RoC), The Economic Times reported that the company has approved the resolution […]

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

For-Urban-Ladder-Story-TC_pexels-photo-25449Bangalore-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, Steadview Capital and Sequoia Capital, Mint reported quoting filings […]

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

OLA_UBER_JUNAID_FRide-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 Uber, is up almost 300% from 130 million in 2015. “2016 was a […]

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Bluestone narrows revenue gap with Caratlane

For-Bluestone-CarrotLane-Results-Story-TC_ThinkstockPhotos-454983451The race for supremacy in the online jewellery retailing segment has tightened, with the gap in revenue of the top two players—Caratlane and Bluestone—halving in the last financial year. Carat Lane Trading Pvt Ltd, which runs Caratlane.com, posted a 9.5% increase in net sales to Rs 131.8 crore for 2015-16 from Rs 120.4 crore the […]

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YourStory raises $3 mn in fresh funding; FY16 revenue soars

Invest_feBengaluru-based digital media company YourStory Media Pvt. Ltd, which runs YourStory.com, has raised $3 million (about Rs 20 crore) in a fresh round of funding, filings with the Registrar of Companies (RoC) show. Existing investors Kalaari Capital Partners III LLC, Qualcomm Asia Pacific Pte Ltd, 3ONE4 Capital Advisors LLP and UC-RNT Fund took part in […]

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

Faasos1Pune-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 compared with Rs 24.4 crore in the previous […]

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