Sequoia Capital Dumps 2% Stake In Zomato, Reducing Shareholding To 4.4%
Venture capital firm Sequoia Capital India has offloaded 17.2 crore shares in Zomato in two tranches in the open market and is now left with only a 4.4 percent stake…
COVID-19: Bajaj & UBER Partner Up To Install Safety Partition In Rickshaws
Uber and Bajaj announced they’re partnering with auto drivers to install safety partitions just behind the driver seat in 1 lakh autos across the country to act as a protective…
SoftBank’s Vision Fund reports ₹1.4L Cr Loss as Tech Bets Nosedive; Jack Ma Quits Co. Board
A few years ago, CEO of Japanese conglomerate SoftBank, Masayoshi Son, unveiled a 100 Billion dollar fund named the SoftBank Vision Fund 1. He had shared his plans of raising…
Covid-19 Lockdown : Uber to lay off 3000 employees as demand dips by 80%
The ride-hailing giant will cut 3,000 more jobs, in addition to the previously announced 3,700. The move comes after COVID-19 restrictions have led to a drop of 80% trip requests…
Zomato buys Uber’s food delivery business in India in an all stock transaction
After months of speculation by the media, Zomato has finally announced the acquisition of Uber Eats India in an all-stock transaction. As a part of the transaction, Uber will get…
Zomato in talks to acquire Ubereats
Uber, in order to cut its global expenses, is advancing talks to sell its food delivery arm UberEats India to local rival Zomato, TechCrunch reported. According the report on Monday…
Ride-hailing startup Ola bags $311 million funding from Kia Motors and Hyundai
Over four months of patience by Ola, a ride-hailing unicorn startup, has gained itself a $311 million (approx INR 2,223) funding from Kia Motors and Hyundai, reported Inc42. As per…
Ride-hailing unicorn ‘Uber’ establishes centre of excellence in Visakhapatnam; to hire around 500 people
Uber, an international unicorn startup, has established its second centre of excellence (CoE) in Visakhapatnam, and will reportedly hire about 500 people for the facility by the end of 2020,…
Ola to lay off around 350 employees as part of restructuring, redesigning
Ola, a ride-hailing platform has revealed that it is going to lay off around 350 employees by cutting short its 4,500 workforce by 5-8 per cent, reported Mint. The move…
Ride-hailing giant Ola commences drivers registration in London; soon to launch commercial operations
Ola, a ride-hailing unicorn startup, has announced that it has started to register drivers before launching commercial operations in London, reported Mint. The development from the Bengaluru-based platform Ola comes…