Bike taxi operator Rapido rebrands rider app to ramp up network

RapidoBike taxi operator Rapido has rebranded its rider app to Rapido Captain as it looks to get more riders on its network and strengthen its positioning as a pooling platform. The app was earlier called Rapido Partner. Using Rapido Captain, riders can join the startup’s bike-pooling network. The customer-facing side of the app, however, will […]

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ICICI Bank rejects NPCI call to unblock PhonePe

For-ICICI-Reject-Story_Shah-JunaidThe tussle between ICICI Bank and online retailer Flipkart’s digital wallet, PhonePe, isn’t likely to end soon with the private-sector lender again refusing to allow transactions through the payment app. The latest refusal comes after National Payments Corporation of India (NPCI), an umbrella organisation for all retail payments system in India, on Thursday evening asked […]

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Myntra adds three new sellers to comply with FDI norms

myntra_feWith the deadline for compliance with foreign direct investment (FDI) norms approaching, Flipkart-owned Myntra has added three new sellers on its platform to reduce its dependence on Vector E-commerce Pvt Ltd, the biggest seller on the fashion e-tailer. A report in the Mint newspaper said, citing two people aware of the development and documents with […]

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Exclusive: Fashion app Styledotme shortlisted for FbStart; receives new funding commitment from IAN

StyledotmeDelhi-based Styledotme Fashion and Lifestyle Pvt Ltd, which operates mobile fashion app Styledotme, has been selected by Facebook Inc. for its FbStart programme. The startup has also received commitment from existing investor Indian Angel Network (IAN) for a new round of funding. It will be looking to raise around Rs 2-3 crore, founder Meghna Saraogi […]

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Kavin Mittal gets 24-fold hike in FY16

Kavin Bharti Mittal, founder, HikeKavin Bharti Mittal, CEO at Hike Ltd, received an almost 24-fold increase in compensation for 2015-16, as the messaging app expanded its operations and attracted marquee investors. Mittal received total remuneration of Rs 18.28 crore for the year through March 2016, according to the company’s annual report. This compares with the Rs 74.61 lakh he […]

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Alibaba’s UCWeb to invest $29 mn in India, Indonesia to grow news platform

alibaba_feMobile Internet firm UCWeb, owned by Alibaba Mobile Business Group, plans to invest $29.3 million (Rs 200 crore) in the Indian and Indonesian market over the next two years. The investment will be used to tap user-generated content in India via its news distribution and content platform UC News, the company said in a media […]

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MobiKwik hires Line India’s former head Daman Soni to drive user growth

Daman-SoniFEDigital wallet firm MobiKwik has appointed former India head of instant messaging app Line, Daman Soni, as vice president for growth. In his new role, Soni will be responsible for achieving the company’s user growth targets. Besides, he will also support the marketing function, MobiKwik said in a statement. “His strength lies in his observation […]

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Myntra’s Vector E-commerce back in red as FY16 revenue rises 40%

myntra_feVector E-commerce Pvt Ltd, the biggest seller on online fashion marketplace Myntra, posted a loss of Rs 8.72 crore in FY16 after turning a profit in the last two financial years, filings with the Registrar of Companies (RoC) show. Profit after tax stood at around Rs 6.5 lakh in FY15. Revenue, however, grew from Rs […]

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Sports tech startup Athletto shortlisted for Facebook’s FbStart programme

AthlettoBengaluru-based O Tree Solutions Pvt Ltd, which operates sports tech startup Athletto been selected by Facebook Inc. for its FbStart programme. The startup will receive credits up to $40,000 and free tools and services from Facebook and its more than 30 partners including Amazon, UserTesting, Dropbox, and MailChimp. Besides partners, it will get free access […]

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Deals app Little acquires beauty & wellness startup Stylofie

L to R: Balaji (CTO), Prateek (Co-founder) & Saurav (Co-founder)Little Internet Pvt Ltd, which owns the deals discovery app Little, has acquired beauty and wellness startup Stylofie for an undisclosed amount. Little aims to further penetrate the beauty and wellness segment with this acquisition. “With this acquisition, Little will get access to more than 50,000 registered visitors and over 1,000 merchants on the Stylofie […]

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