Urban Company’s Unicorn Funding: Why is Urban company unhappy with Media Houses

On-demand service marketplace Urban Company has become the 12th unicorn of 2021 after it came to light that the company has raised $190 Mn in a series F round led by Naspers (now known as Prosus). The round also had the footprint of the existing investor Tiger Global whose pugmarks on India’s unicorn map is…

ByGirish ShettiApril 27, 20210Comments

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Nazara claims 84% YoY Revenue Growth in FY21 in its Unaudited Report

After a stellar IPO debut, Nazara has reported an impressive consolidated revenue of 4,542 Mn INR in FY21, which the Mumbai-based company claimed that this is an 84% YOY growth over FY20’s consolidated revenue of 2,475 Mn INR. However, the company has categorically stated that these SEBI complied figures are part of its unaudited report. In…

ByGirish ShettiApril 23, 20210Comments

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Delhi HC gives Green Signal to CII to conduct investigation against FB & WhatsApp

Delhi High Court on Thursday quashed the FB & WhatsApp’s plea of barring Competition Commission of India (CII) from conducting investigation against them over data privacy issue. The Delhi HC’s judgement technically means that the CII has got a green signal to launch a prolong probe against both the social media platforms on the privacy…

ByGirish ShettiApril 22, 20210Comments

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Is PhonePe Planning to Foray into Stockbroking Biz

According to reports, UPI payment major PhonePe is toying with the idea of foraying into the ferociously competitive space of stockbroking. As per business daily The Economic Times, PhonePe is currently awaiting the stockbroking license from capital market regulator SEBI. PhonePe’s unconfirmed plan to enter the stockbroking biz makes a lot of sense given that today…

ByGirish ShettiApril 15, 20210Comments

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Flipkart strikes Strategic & commercial partnership with Adani Group

India’s home grown e-commerce giant Flipkart announced on Monday that it has entered into a strategic and commercial partnership with Adani Group. This newly formed partnership will help the Walmart owned company in improving its supply chain infrastructure and thereby enhancing its capabilities to serve its rapidly growing customer base. As part of this strategic &…

ByGirish ShettiApril 12, 20210Comments

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IRDAI gives Green Signal to Insurance Companies to Invest in Indian Startups

India’s burgeoning startup industry is certainly witnessing a honeymoon phase and this one probably has to be the best honeymoon phase it has ever witnessed. After a unicorn spree this week, this fledging yet ambitious industry has another reason to cheer. India’s insurance regulator, IRDAI, has relaxed the investment rules for insurance companies investing in…

ByGirish ShettiApril 10, 20210Comments

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Oyo Quashes Bankruptcy Rumors after NCLT accepts Petition against its Subsidiary

Budget hotel room major Oyo Rooms has categorically rejected Bankruptcy rumors, which began to spread after NCLT accepted insolvency petition against one of Oyo’s subsidiaries. For all those who are not aware, NCLT on Wednesday accepted insolvency petition against Oyo subsidiary Oyo Hotels and Homes Pvt Ltd. The petition has been filed by Hyderabad based creditor…

ByGirish ShettiApril 7, 20210Comments

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Amid outage, Wazrix crosses $350 Mn in Daily Trading Volume

India’s largest crypto exchange Wazrix has surpassed $270 Mn in trading volume. This has prompted the company to claim that this is the highest ever trading volume clocked by any cryptocurrency exchange in India. Wazrix’’s founder Nischal Shetty broke the news on his Twitter handle. The company has achieved this new milestone barely a day after…

ByGirish ShettiApril 5, 20210Comments

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Rapido to offer Free Auto Rides to Delhi NCR citizens to support COVID Vaccination Drive

Bike taxi major Rapido on Wednesday announced a great philanthropic initiative for supporting the ongoing COVID vaccination drive. Rapido said that it will provide free Rapido Auto rides to and from COVID- 19 vaccination centres for Delhi NCR citizens. Named as #RideToVaccinate, the company aims to offer a safe and accessible commute option to senior…

ByGirish ShettiMarch 31, 20210Comments

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Urban Company & LetsVenture create open-source ESOP Framework for Startups

India’s leading home service marketplace Urban Company has rolled out an open source ESOP framework policy for India’s startup ecosystem. To create this framework policy, it has collaborated with MyStartupEquity, a cap table and ESOP management product by investment firm LetsVenture. Urban Company and MyStartupEquity claim that ESOP is a generally tedious process and they plan…

ByGirish ShettiMarch 23, 20210Comments

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