Article on January 23, 2023
India'a First Unicorn InMobi Lays Off Over 50 Employees
Inmobi has joined a slew of companies that fire a significant portion of their workforce, citing right-sizing, under-performance, and so on. The 50-70 employees were fired after Inmobi reportedly informed its workforce that it would skip the increment cycle for the calendar year 2023. Startups, whether early-stage or growth-stage, are no exception
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Former WhiteHat Jr COO Ankur Nyati Joins Edtech Startup Utkarsh Classes
Niyati has also held key positions in companies such as Ola and Flipkart. He was earlier associated with ITC and Hindustan Unilever
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Zomato To Close Its 10-minute Food Delivery Business: Reports
The company is not receiving the right amount of orders to keep the business sustainable and survive. It further added that the company is not shutting down the fast delivery business but rebranding it following a pivot strategy
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Sellers Protests Against Meesho's Revised Product Return Policy
Meesho changed its product return policy in response to feedback from its third-party logistics partners. Returns are a significant cost area for Indian e-commerce players, as they add to logistics costs
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Travel Tech Startup OnArrival Secures Pre-seed From Antler India
Ankit Sawant and Pawan Shetty are building OnArrival as a remote-first company looking to actively expand the founder’s office, sales, and technology teams. The current team is spread across the country in over 7 states
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EaseMyTrip Ventures Into Offline Space, To Open Retail Outlets
Within its commercial ambit, the target audience it aspires to reach out to are the walk-in customers
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Jobs Cuts Likely To Happen At Spotify This Week
It is not the first time that the music giant is layign off staff in the name of cost-cutting, in October 2022 as well the company reportedly shut down 11 original podcasts from its in-house studios
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Mumbai Angels, Others Invest In Agritech Startup Falca
Falca will leverage the capital infusion to bolster its technology infrastructure, hire skilled Data Scientists and senior management professionals, and expand its geographical footprint
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Budget 2023 Can Lay Groundwork For India To Assume Leadership In Research & Innovation
The Indian economy has been resilient amidst a challenging global macroeconomic scenario of inflation, recession and supply chain disruptions, with GDP projected to grow 6.5-7 per cent in FY24. This year’s Budget therefore ought to lay the framework to deliver on this potential
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Electric One enters Sri Lanka 2-wheeler market
EV superstore chain Electric One signed MOU with legendary cricketer Arjuna Ranatunga through the newly formed joint venture company ‘Electric One Lanka. Targets to open 50 EV outlets as ‘Electric One powered by AR’ in Sri Lanka
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