05 Nov 2019

1. Cheating case against Oyo founder Ritesh Agarwal, 6 others The complainant, a Bengaluru hotelier, had alleged that Oyo had booked rooms but failed to pay any rent for the past five months duping him of Rs 35 lakh. Besides CEO Ritesh Agarwal, police have booked Head of Oyo…

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04 Nov 2019

1. The real reason why Uber moved in: To simplify tax math Earlier this month, Uber restructured and moved its entire India business – which partially operated from the Netherlands under Uber BV – to the India-domiciled Uber India Systems. This is Uber’s first such restructuring since 2014. This…

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26 Oct 2019
iPhone image

1. Early Diwali hurts Amazon’s Q3 growth According to analysts, Amazon and rival Flipkart sold goods worth $3 billion, or about Rs 21,380 crore in India during the first leg of the festive sales period, a growth of 30% over last year. Analysts said Amazon’s India business reduced the…

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22 Oct 2019

1. Walmart CEO writes to PM, seeks a stable business environment The letter comes in wake of Flipkart and rival Amazon facing probes over alleged roles in predatory pricing. McMillon had met PM Modi in New York on September 25 during the PM’s visit to the US. Source: ET 2….

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17 Oct 2019
Startup NEWS

1. Cars24 has closed $100 million in Series D funding Lead investors Unbound and KCK Global put in $25 million each. The latest fundraising comes a few months after Cars24 received its non-banking financial company license from the Reserve Bank of India. Source: ET 2. Intuition + intent + involvement:…

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15 Oct 2019

1. Ratan Tata to invest in Tork Motors Tork Motors is gearing up to launch its flagship electric motorcycle in the next few months. I place good value on the sound logic and the approach that the team at Tork Motors has taken,” Tata Sons Chairman Emeritus Ratan Tata…

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14 Oct 2019

1. Paytm to cut losses by 33% to $400 million: Vijay Shekhar Sharma Paytm has completely cut incentives on P2P UPI transactions after seeing a group of customers conduct millions of transactions of Rs 21 between its network and other rival players. The firm expects GMV, which does not…

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11 Oct 2019

1. InnovationQore launches in India with Rs 50 crore funding start InnovationQore is in talks to raise more from private equity and venture capital firms, Ganesh Raju, the CEO, said. Turbostart plans to invest and accelerate at least 100 startups in the next two years. Source: ET 2. Social e-commerce…

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08 Oct 2019

1. Oyo founder Ritesh Agarwal investing $700 m in $1.5-B fresh round Investment to be routed via RA Hospitality and financed by the $2-2.2b debt Oyo CEO had raised. “With the CCI approval now in place, the company will get a capital infusion of $1.5 billion for this mission,…

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05 Oct 2019

1. Paytm First Games raises $20 million for expansion This fund-raise will support the company’s ambition to scale its operations, invest in technology and further expand its user-base through various marketing activities. Paytm First Games has achieved more than 10 million monthly transactions with an annual revenue run rate…

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