Indian Startup and Business News #StartupDaily

Latest News from Indian Startup Ecosystem [Funding, Technology, Launch, Collaboration]

  1. Sanskari Nari Kit launched by NestAway to help you find a home
    Products like Sanskari Nari Kit and Sacha Paneer Spray had been introduced by home rental startup NestAway as a prank in its ads in order to battle out discrimination in home renting, Now they have literally put them up for sale on Flipkart & Amazon. These brash alternates are for the ones who are facing discrimination during house hunting and still are unaware or have not logged onto NestAway, said Co-Founder.
  2. Following Housing Merger PropTiger fires 200 employees
    India’s leading property portal backed by News corp had a merger with Housing last month which resulted in the layoff of 200 of its employees. As per PropTiger’s CEO Dhruv Agarwal, who will lead the joint venture, this step was taken as a restructuring exercise. Various departments & functions were overlapping hence this action was taken so that the resources were utilized to the optimum level.
  3. Jay Chauhan of NDTV’s fame joins Arnab Goswami’s Republic TV
    Jay Chauhan who worked as Chief Innovation Officer with NDTV has been designated as the Chief Technology Officer for broadcast news & Chief Operating Officer-Digital at Arnab Goswami’s media undertaking Republic TV. Chauhan’s  transition makes a powerful implication that Republic will become a successful media company. Rajeev Chandrashekhar who is a member of Rajya Sabha is a Director in this venture.
  4. Zenefits, a billion dollar startup fires 45% of its employees
    Zenefits known for making human resource software is a US based billion dollar start up. As a step towards cost cutting Zenefits has fired 45% of its staff which constitutes to 430 of its employees.This has been the third time that such a layoff was carried out. As per CEO Jay Fulcher in order to sustain revenue projection Zenefits overhired staff in 2015.
  5. SNAP Interactive shares spike 164% on being perplexed with Snapchat
    Snap Interactive is a lesser known Newyork based video chat and online dating service provider whose shares surged by 164% in 4 days since Snap Inc. the parent company of Snapchat is looking to raise $3 billion when it goes public. On Wednesday over 10000 shares of SNAP Interactive were traded on which is 10 times the average daily volume since January.In late January as the reports of Snap’s IPO filing were known, the dating app’s stock started rising.
  6. Ola, Uber driver’s strike over incentives hits Delhi.
    Around 300 cab drivers of Uber & Ola initiated a protest and an indefinite strike in Delhi at Jantar Mantar against the current management of employers on Friday and threatened to go on a bigger strike on Monday. They demanded better incentives and said that the fare should be increased from Rs 6 per kilometer as they have to pay 25% commission to the company and are left with a meager Rs 5000.They also said that if their demands are not met, no commercial autos & taxis will be allowed to ply on Monday in Delhi-NCR.
  7. Venture makes a case that can turn a cell into a camera
    Pixl Toys a US-based startup has created a case worth Rs 1700 suitable for smartphones.This case can transform a smartphone into a 35 mm camera for kids. Once the device is adjusted into the case, photos can be clicked and a lot of effects can be incorporated with the help of an app developed by the startup.The case is drop protective and features dual child-resistant locks and handles made of rubber. The case creates fun effects with the included activities and app. It encourages photography and active play among kids.
  8. Startup invents a two-legged talented robot delivery
    Ostrich Agility Robotics, a startup which evolves from Oregon state university have come up two-legged robot named ‘Cassie’ who is useful for making home deliveries. This startup focuses on legged locomotion that may reform mobility of the robot and enable them to go anywhere humans can go. Cassie has a larger range of motion, can stand, steer and is unbreakable if falls. It has motored ankles which make it sturdy.
  9. Snapchat to remove gender pay gap updates its IPO filing
    Joanna Coles who is the only female on board at Snap Inc. was compensated the lowest out of the five directors who were paid in 2016. Initially Snap chose not to comment on this matter but later the publication stated that its IPO filing did not reflect a four-year contract that she signed in January 2017. On Thursday the IPO filing was updated and Coles received pay equivalent to the other directors.
  10. Myntra co-founder Ashutosh Lawania quits
    Marketing chief Gunjan Soni has been named as the new head of Jabong, a rival bought by online fashion retailer Myntra last year. Myntra was co-founded by Ashutosh Lawania, Mukesh Bansal and Vineet Saxena in the year 2007. Ashutosh Lawania has quit the fashion start-up in order to launch a new venture. All the three Myntra founders are working on their respective ventures. Myntra is in a process of reshuffling its top staff following the exit of several important executives in the last 6 months.
  11. Flipkart re-hires two executives to initiate selling grocery
    India’s biggest e-commerce player Flipkart is planning to launch a grocery selling business. For this purpose newly appointed CEO Kalyan Krishnamurhty has re-hired two former executives Manish Kumar and Nitin Rajput.Chief executive Binny Bansal said that the company will grocery sales next year and continue operations over the period of three years. This move will put them ahead of Amazon a global giant in the Indian market.
  12. Musk criticized for claiming Tesla worker was paid to agitate
    Tesla CEO Elon Musk’s claim that the factory worker who publicly criticized the company was paid by the union has been rejected by America’s United Automobile Workers Union. The union organization wants Musk to apologize to their employee for spreading such false news about him. The worker has complained of preventable injuries, mandatory overtimes and low wages as compared to other automobile companies.
  13. Ford to invest $1 billion in a venture by ex-Uber & Google engineers
    American automaker Ford has made will invest $1 billion in secretive artificial intelligence startup, Agro Al. Agro AI was founded by former Google & Uber Engineers. This investment will be spread out for over five years and Ford will obtain a major stake in the startup and will be commercializing its self-driving technology by 2021 by mass producing self-driving cars without brake pedals and steering wheels.
  14. Ambassador sold to Peugeot for Rs 80 crore
    The creator of iconic Ambassador car, CK Birla-controlled Hindustan Motors Ltd. has sold the brand to French carmaker Peugeot. Ambassador used to be a symbol of the status and might in power societies. Hindustan Motors has stated the same in a regulatory filing on Friday. In January the PSA group had sealed a partnership with CK Birla group to return to the Indian market and reserve an initial investment of 100 million euros(700 crore) to initiate powertrain and automobile manufacturing in Tamil Nadu.
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