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Indian Startups
3028 posts
Flipkart: The Untold Story of Experiments and Thinking Differently [Mekin on NextBigWhat Radio]
In this conversation with NextBigWhat’s Ashish, Mekin discuss the early days of Flipkart, hiring culture and lessons from many experiments (some notable failures include Payzippy, Flyte) and how some of these experiments helped them create a flywheel.
Ritesh Agarwal : This is the first time a major restructuring is happening
OYO’s Ritesh Agarwal in an interview: We have always acquired high-quality talent. This is the first time a major restructuring is happening at Oyo. We had two-three important learnings.
In digital India, cash is king: Vijay Shekhar Sharma #BackToFuture
“While a cashless economy is not possible in India, less cash economy will be in the future. Less cash is the only solution, not the elimination of cash,”
“Basically, payments, cloud, commerce and financial services are a cohort we follow. So, payments are our customer as well as merchant acquisition. If it breaks even, we are happy because other line items make more money, he affirmed.
Startups that burn investor money, disappear won’t get second chance: Ratan Tata
Ratan Tata has exhorted startups to conduct themselves ethically.
“We will have start-ups which will attract attention, collect money and disappear. Such start-ups will not get a second or a third chance.”
So, which of Ratan Tata’s portfolio are a fan of?
How Oyo can win back its mojo
Few startups have achieved success without failures. The Oyo story is no different and he is what its management, employees, investors and partners can do. Entrepreneur K Ganesha shares a few ideas:
1. Communicate clearly and unambiguously.
2. Don’t couch the communication in euphemisms.
3. Don’t blame the employees or non-performance.
4. Think ahead!
5. Be fair. Ensure, at the minimum, that the contractual obligations of the notice period, severance pay, leave encashment, etc are met fully.
Massive layoffs at OYO; More layoffs expected in coming months
Oyo has fired 5% of its 12,000 employees in China, while dismissing 12% of its 10,000 staff in India. OYO is also planning to layoff 1,000+ people in India in…
Dunzo gets approval to test long-range drones
India’s civil aviation authority has selected the applications of Dunzo and Bengaluru-based drone maker Throttle Aerospace Systems to test long-range and autonomous drone use, as part of DGCA’s Beyond visual line of sight (BVLOS) progamme.
Yahoo and OYO partnership in Japan falls through
Yahoo had bought 30% shares in OYO’s subsidiary company in Japan – OYO life in March 2019.
Yahoo has now sold back these shares. Oyo however claims that the parent is ‘buying into’ its own business to sustain growth trajectory.
FYI: BYJUs is profitable !
Byju’s has posted net income of Rs 20.16 crore in the FY ending March 31- making it the only profitable consumer internet unicorn in the country.
Byjus currently has 2.8 million paid subscribers (and 40 million overall subscribers).
BYJU’s income has increased to Rs 1,341 crore from Rs 490 crore, while expense stand at 1,321.65 crore (was Rs 518.52 crore in FY18).
Swiggy recorded 3X revenue growth and 6X loss compared to last FY
Swiggy recorded revenues of Rs 1,128 crore (3X growth) in the year ending March 2019. The company witnessed losses amounting to to Rs 2,363 crore (~6X increase). Swiggy’s revenues stood…
