Thursday, April 18

Tag: Indian startup

Indian Government proposes Tax-free investment from Accredited Investors
29Apr By PriyankaNo Comments
INDIA

Indian Government proposes Tax-free investment from Accredited Investors

An official from Indian government said that funds received by startups from accredited investors may be exempted from angel tax subject to complying with certain net worth criteria. This provision is considered by the government as part of an exercise to define 'accredited investors' with a view to increasing investment flow in startups. The Department for Promotion of Industry and Internal Trade (DPIIT) is working on the definition, which would be submitted to the finance ministry for approval. "Accredited or genuine investors can invest any amount but we will make some criteria for that. It should be liberal enough so that all such people can come under its purview. But it should not be over liberal and extra-stringent," the official said. "How much a genuine investor is in...
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Zomato Co-Founder Steps Down after a Decade
3Mar By Sheldan RungasamyNo Comments
News

Zomato Co-Founder Steps Down after a Decade

Zomato’s co-founder Pankaj Chaddah took to twitter to announced his resignation from the company ending a decade of service. Chaddah will now take a little break but aspires to “move on to something new.” In a letter posted on the company’s blog intended to his fellow employees, he stated “I have been thinking of moving on for some time now, but I didn't want to leave when the company really needed me to be around". Admitting that the company was going through a bad phase in the last two years, he added, “now that the company is in good shape, I think it’s a good time.” Indeed, this news comes as a shock for many but his resignation cannot come at a better time. A few days ago, China’s Alibaba Group Holding Ltd invested $150 in the food search and delivery app, valuing the comp...
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Flipkart Completed Buyback Share Programme Worth $100M, With 3,000 Participants
13Dec By RishabhNo Comments
BUSINESS, INDIA

Flipkart Completed Buyback Share Programme Worth $100M, With 3,000 Participants

Indian online e-commerce giant Flipkart has recently completed its $100 million re-purchase of employee stock options (ESOPs), marking it the largest share buyback programme in Indian startup history, a financial daily reported. In a release on Wednesday, Flipkart said that over 3,000 existing and former employees of Flipkart, PhonePe, Myntra, and Jabong had participated in this programme, Mint reported. “Employees are our biggest source of strength, without whom Flipkart couldn’t have built the e-commerce industry in India. As an organisation, we believe they should be equal partners in Flipkart’s success. This ESOP repurchase programme is an extension of that culture, and a token of thanks for the dedication and hard work they have put in over the years. We’re delighted to be setti...
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Swiggy Scam: Is India’s Best Startup Award Winner, a Wolf in Sheep’s Clothing?
29Jul By AnkitaNo Comments
ANALYSIS, News

Swiggy Scam: Is India’s Best Startup Award Winner, a Wolf in Sheep’s Clothing?

Swiggy, a pan-India food delivery app, whose claim to fame was by creating opportunities for local restaurants and the underprivileged, have recently come under the spotlight for allegations of fraud and trickery. In an anonymous post, on Tumblr, current and former employees exposed the company’s skeletons, leaving people feeling furious and cheated. The criticism itself was contemptuous and clearly displayed the abhorrence of the writers. The post contained proof in the form of photographs that revealed the contrast between company-held figures and the presentations sent to investors. Such corruption could be expected from a big multinational company but not from an innocent, idealistic startup. Here are the crimes, Swiggy was accused for committing in the Tumblr post, "Swiggy, a House of...
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T-Hub Tie-up With Israel’s StarTau For Agritech Startups
8Jun By AnkitaNo Comments
News

T-Hub Tie-up With Israel’s StarTau For Agritech Startups

T-Hub, a technological incubator started by the Telangana government, today said it has signed an MoU with Tel Aviv University's entrepreneurship centre StarTau for launching an accelerator program for agritech startups. According to an official release from T-Hub, an accelerator program will be launched in India and Israel and it will be a part of T-Hubs T-Challenge program charter which will focus on agritech for facilitating the growth of startups in this sector. The program will start in October 2016. "The Israeli innovation corridor for T-Hub is an extremely important one, given the opportunity India has to innovate over the next few years and Israels offering. "T-Hub is paving the way to lead this effort in healthtech, agritech and data sciences through T- Hubs cluster-f...
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PepperTap Shuts Down Grocery Delivery
25Apr By No Comments
News

PepperTap Shuts Down Grocery Delivery

PepperTap Shuts Down Grocery Delivery, Pivots to Logistics Sriram Sharma , 25 April 2016 Share on FacebookTweetShareShareEmailReddit PepperTap Shuts Down Grocery Delivery, Pivots to Logistics Hyperlocal grocery delivery startup PepperTap announced on Saturday that it will be shutting down its operations, the latest casualty in a sector that saw exits of pilots programs from Ola and Flipkart this year. The company will be shifting its focus to e-commerce logistics, where it can lend its expertise of same day deliveries. "We are now changing our business model and will not be able to deliver groceries to you. In case you have any queries, feel free to call us at 186001216001 or email us at care@peppertap.com," reads the farewell message posted on PepperTap's app. Navneet Singh, Co-F...
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