Housejoy FY16 losses widen 20-fold on higher ad spend, employee costs

home_feHome services startup Housejoy’s revenue rose nearly 32 times in FY16, but losses also went up 20-fold as employee costs soared and the company spent more on advertising and promotions. The company, run by Sarvaloka Services On Call Pvt. Ltd, reported total revenue of Rs 17.1 crore against Rs 54.43 lakh in the previous year, […]

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Qualcomm selects three startups for $100K design prize

For-Qualcomm-Story_ThinkstockPhotos-485982144Chipmaker Qualcomm has selected three startups for its ‘Qualcomm Design in India Challenge’ prize. The winners, selected from among ten startups incubated by Qualcomm, will be awarded $100,000 each. The winners were judged by industry, government and Qualcomm executives, and the announcement was made by Union minister Ravi Shankar Prasad and Nasscom president R Chandrashekar. […]

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Apple confirms $1-bn investment in SoftBank Vision Fund

Apple SoftbankApple Inc. is investing $1 billion in SoftBank Corp’s $100-billion tech fund, according to a report in a major international daily. The fund, called SoftBank Vision Fund, is also expected to witness participation from Foxconn Technology Group Ltd and the family office of Larry Ellison, chairman of Oracle Corp, The Wall Street Journal said. SoftBank […]

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Great Wall Club Innovator Fund plans more deals in India

Barret-ParkmanSilicon Valley-based early stage investor GWC Innovator Fund plans to step up seed investments in India by backing five to ten startups in a year from its new $20 million fund, its co-founder Barret Parkman told Techcircle. GWC Innovator Fund is an offshoot of Great Wall Club (GWC), the company that conducts mobile and internet […]

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