Grofers, the food and grocery hyperlocal, is tweaking its business model to a partly inventory-led one, CFO Ashneer Grover told. The company has decided to sell fruit, vegetables and staples under a private label — Freshbury — and these will be sourced from Grofers India’s sister concern. Grover …
Tag: SoftBank
VentureNursery’s demands in way of Oyo’s Zo acquisition
Budget hotel aggregator OYO Rooms has hit a hurdle in completing its acquisition of rival Zo Rooms with fresh demands from one of its early investors stalling the process, according to four people aware of the negotiations. VentureNursery, a Mumbai-based accelerator which was the first investor i…
Uber launches UberMOTO in Gurgaon
After Bengaluru, taxi-hailing app Uber on March 30 launched a pilot of its bikesharing product – UberMOTO – in Gurgaon. “Uber today announced a pilot of Uber’s bikesharing product – uberMOTO in Gurgaon… This follows our agreement with the government of Haryana …
Uber to invest $500 million by June in India as it takes on rival Ola
Ride-hailing app Uber plans to invest $500 million (Rs 3,300 crore) in India by June — or Rs 1,000 crore a month, on average — as it challenges Ola for leadership in its third-biggest market, two people aware of the matter said. Just nine months ago, the world’s most valuable startup commit…
Ola is testing bike taxi service in Bengaluru
India’s largest cab aggregator Ola is testing a service to provide bike taxis in Bengaluru, close on the heels of its main rival Uber which recently launched a similar service in the city. The service, the latest from the Ola stable following the launch of a shuttle-bus as well as an auto-r…
Paytm introduces hindi interface on its app to expand seller base
Paytm has introduced Hindi interface on its seller app to expand seller base in tier-II and III cities. The interface will also help the marketplace scale-up its online-to-offline business for shipping large appliances and electronics beyond the current base of 10 cities. “The top-10 cities…
Bike service uberMOTO to debut in bengaluru , fares as low as rs 3/km
Uber will debut its biketaxi service on March 4 in India’s technology capital, making Bengaluru the second city after Bangkok into which the world’s most valuable startup is riding in on two wheels. To be called UberMOTO, the service is aimed at tapping additional revenue streams in o…
Ajay Piramal spots value in Venture Capital Investing
The family office of Ajay Piramal is stepping into venture capital investing to get a slice of the fast-growing entrepreneurial ecosystem in the country. Known as being one of the savviest value investors in India Inc, Piramal is backing the newly floated Montane Ventures, an early-stage fund, as…
‘Silicon Valley Spirit’ guides policy-makers, Start-Ups look for a deal
Start-ups have little doubt that this Union Budget will deliver. But they are keeping their fingers crossed for much more; they hope their freedom is not curtailed by reams of policy. Setting the tone, Prime Minister Narendra Modi had decisively looked at Finance Minister Arun Jaitley at Vigyan B…
Softbank picks Brocade fabric-based new IP network to help increase business agility
Japanese telecommunication service provider Softbank Corp is streamlining its data center operations by deploying BROCADE VDX SWITCHES (NASDAQ: BRCD) to provide Ethernet fabrics as part of the company’s group-wide common service infrastructure network. The new infrastructure will greatly re…