Latest Indian Startup News, Fundings, Technology, Web Developments
Taxi-hailing services of Ola and Uber have been partially affected by a strike called by various unions protesting against a recent hike in driving licence and other fees by the Regional Transport Office (RTO) in addition to the flexible fare structure followed by cab aggregators and falling income of drivers associated with them. The protesters […]
The agitation by Ola and Uber drivers demanding better incentives got out of control in the national capital on Monday, with a group of protesters gathering around Ola’s offices in the city. People aware of the development told Techcircle that Ola was forced to shut down its all three offices following the protests and evacuate […]
SoCoMo Technologies Pvt. Ltd, which runs on-demand delivery services startup and auto rickshaw aggregator Jugnoo, has announced its entry into the taxi aggregation business at a time when key players in the segment are facing drivers’ ire over diminishing incentives and low earnings. “We have come up with a strategy to provide taxi services at […]
After the high-profile exits of chief financial officer (CFO) Rajiv Bansal and chief marketing officer (CMO) Raghuvesh Sarup, Ola has seen yet another round of top-level departures. Anuj Bhargava, chief operating officer of offline initiatives and Sriram V. Iyer, head of engineering and senior director at Ola, have resigned from the firm, a report in […]
India’s largest e-commerce marketplace Flipkart has suffered another bout of senior-level exits at its engineering team, a national daily reported on Friday. Citing unnamed people aware of the development, The Times of India reported that Ashish Gupta, vice president, engineering, and Ashish Vikram, vice president, engineering (ad and big data) are leaving the firm. Gupta, […]
Just as app-based taxi drivers’ agitation over falling incomes is fast spreading to more Indian cities, drivers of cab-hailing companies Uber and Ola started an indefinite strike in the national capital from Friday to protest against the unfriendly policies of their employers. The protest comes weeks after drivers belonging to Uber and Ola staged similar […]
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E-commerce giant Flipkart’s co-founder Sachin Bansal has re-ignited the debate around a “level playing field” for Indian startups, saying it is essential to ensure that local companies don’t get “prematurely killed” by foreign competition. “Indian companies can and they should build products which are world-class, and take them globally. Zomato, Practo and Freshdesk are clear […]
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 earliest employees, will be “interim CFO.” Techcircle had exclusively reported on February […]
Japanese telecom and Internet giant SoftBank Group Corp has reported a valuation loss of ¥39.3 billon (nearly $350 million) from its financial instruments for the nine-month period ended December 31, 2016, largely due to a decline in fair value of preferred stock investment, primarily in India. The loss would have been higher but for a […]
Tata Sons interim chairman Ratan Tata has said he would go back to investing in startups this month after handing over the reins of the Tata group to N Chandrasekaran, managing director and chief executive of Tata Consultancy Services (TCS), who will formally take over on 23 February. After retiring as the head of Tata […]