Daily Archives: March 4, 2016
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NEWS 
March 4, 2016 Ola may shut down grocery, food delivery services
Photo: Hemant Mishra/Mint New Delhi/Bengaluru: India’s largest taxi-hailing service Ola, run by ANI Technologies Pvt. Ltd, may shut down its grocery and food delivery services barely a year into launch, as the company slows expansion plans and struggles to build customer demand for the business units. Ola Store, the groceries delivery service, and Ola Cafe, […]
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ALL DEALS 
March 4, 2016 Mind the gap: Boosting a climate of entrepreneurship
Photo: Ramesh Pathania/Mint Bengaluru can often feel like a different country. Elsewhere, university campuses might be on fire, debating the freedom of speech and meaning of freedom; water supply to entire neighbourhoods might be cut off by angry mobs; thousands might be stranded due to once-in-a-century floods. But in Bengaluru’s coffee shops and meeting rooms, […]
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NEWS 
March 4, 2016 Entrepreneurship to improve the world for everyone
Photo: Mint India is shining. It has retained the third position among countries with the most billionaires, according to the Hurun Global Rich List. Now India has 111 billionaires, an increase of 14 since last year. Topping the list of Indian billionaires are Mukesh Ambani, Dilip Shanghvi, Pallonji Mistry and Shiv Nadar—entrepreneurs who have amassed […]
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NEWS 
March 4, 2016 Unicorns are a myth. But you do believe in them!
Photo: Bloomberg The enterprise value of Google pre-IPO (initial public offer) was estimated to be between $33 billion and $40 billion (based on a S&P’s pre-IPO Google report). Google listed on Nasdaq on 19 August 2004 at $85, the low end of its revised price expectation of $85-95. Its market capitalization was valued at $23 […]
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NEWS 
March 4, 2016 Alibaba in talks to buy Flipkart stake
Jack Ma, founder of Alibaba Group. If the Flipkart-Alibaba deal goes through, it will make Alibaba one of the three most important investors in India, along with Tiger Global Management and Japan’s SoftBank Group. Photo: Bloomberg New Delhi/Bengaluru: China’s Alibaba Group, which has backed Paytm and Snapdeal, is looking to increase its footprint in India […]
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NEWS 
March 4, 2016 Here’s why Microsoft bought SwiftKey for $250 million—artificial intelligence
Photo: Bloomberg New Delhi: On Tuesday, London-based predictive technology company SwiftKey said it has joined the Microsoft family. The deal, first reported by the Financial Times, is believed to be around $250 million. SwiftKey, for most smartphone users, comes through as just another third-party keyboard app, an upgrade on the default keyboard that most platforms […]
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NEWS 
March 4, 2016 Ratan Tata, University of California partner to fund start-ups in India
Ratan Tata has made small investments ranging from Rs.10 crore in online market place Snapdeal to Rs.10 lakh in Zivame. Photo: Mint Bengaluru: RNT Associates, the privately held investment firm of Ratan Tata, and the chief investment officer’s office of the University of California have partnered to jointly fund start-ups and enterprises in India over […]
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NEWS 
March 4, 2016 Magic Crate raises seed funding from Mohandas Pai, others
The firm said it ships several thousand activity crates each month, customised to specific age groups, with the prices starting at Rs.549. Bengaluru: Funfinity Learning Solutions Pvt. Ltd, which makes Magic Crate subscription-based activity kits for children, on Thursday said it has received seed investment from Aarin Capital, T.V. Mohandas Pai, chairman of Manipal Global […]
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ALL DEALS 
March 4, 2016 Is Ritesh Agarwal ready to grow up?
OYO Rooms founder Ritesh Agarwal. Photo: Ramesh Pathania/Mint On 24 January, Manoj Thelakkat, a Bengaluru-based recruitment professional, took to social networking platform Facebook to share his experience of being an OYO Rooms customer. The roughly 1,400-word post, headlined ‘The Ordeal called OYO Rooms’, details his frustrating experience of first being denied a pre-paid room at […]
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ALL DEALS 
March 4, 2016 Kae Capital raises $30 mn for fund focused on local start-ups
Kae Capital founder and MD Sasha Mirchandani. New Delhi: Kae Capital, which invests in early-stage companies, has raised $30 million from existing and new investors as part of its second fund. The firm will be raising an additional $10 million soon, said Sasha Mirchandani, founder and managing director of Kae Capital, on Thursday. He declined […]
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NEWS 
March 4, 2016 BHIVE Workspace raises angels funds to expand services
BHIVE provides start-ups with accessible and quality plug-and-play workspaces in Koramangla area of Bengaluru. Till date, it has housed 90 start-ups covering 4,000 active members. Mumbai: Bengaluru-based workspace solutions provider BHIVE Workspace said on Friday that it had raised an undislosed amount in funding from a group of angel (individual) investors. The investors include Raghunandan […]
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ALL DEALS 
March 4, 2016 Zendrive, a driving analytics start-up, raises $13.5 million
Zendrive’s technology can be used by a broad list of industries including on-demand services, commercial fleets, taxi aggregators, insurance companies, and for city planning, mapping, driving instruction and roadside assistance, among others. Bengaluru: Zendrive Inc., a mobile technology company which aims to make roads safer through data and analytics, raised $13.5 million in Series A […]
