Poor funding, meagre investment and COVID-19 restrictions forced these top Indian startups to lay off employees in their thousands.
Even if we take $3.4 billion valuation into account, Zomato looks likely to take the driver’s seat from Swiggy after the launch of the IPO. If it happens, it will be no mean feat for Zomato which was far behind Swiggy till two years back. Zomato started turning its fortunes around in the beginning of this year.
Indian startups have forwarded the legacy of corporate romance with cricket. It is almost a given that if a startup crosses the billion-dollar threshold and becomes a unicorn, it will be endorsing Indian cricket if it hasn’t already. From the title sponsorship to IPL, Test Matches and ODI series, much of BCCI’s engine is run by such heavily-funded companies that boast dynamic stories of rapid growth.
Social restrictions compelled by the pandemic have created enormous opportunities for food delivery apps like Zomato and Swiggy. These businesses, successful and in-demand now, experienced some initial hiccups in the first phase of the lockdown, but orders then grew exponentially as the days passed. Now Zomato is looking to raise $100 million from US investment firm Tiger Global Management to further its market size.
The call to boycott Chinese products has recently caught up in India after the violent standoff between the Indian Army and Chinese PLA in the Galwan valley of Ladakh.
In India, Jeff Bezos met the biggest industrialists – and Bhavish Aggarwal. So what is the Amazon boss planning? Analyzing recent interests of the world’s richest man, the Ola Boss’ Foodpanda business might have something to do with it.
Zomato is on the verge of acquiring UberEats and apparently making headway, but what looks like expansion for Zomato ironically takes away its advantage over Swiggy in the market. Here’s why.
From the fall of Jet Airway to the PMC Bank Disaster — India Inc. was hit hard several times in the year bygone. Here are the most scandalous affairs that affected Corporate India in 2019.
Ant Financial will see its stake touch almost 29%, making it the largest shareholder in Zomato, ahead of InfoEdge. It has been backing Zomato since it picked up a 14.7% stake in February last year.
A Twitter user recently asked McDonald’s India whether they serve halal meat in their restaurants. They replied saying ‘All our restaurants have HALAL certificates’. Since then, #BoycottMcDonalds has been trending online.