India: Foodpanda to halt food delivery in 6 cities, fires 500 employees


The layoffs have taken place across sales, marketing, vendor service, customer delight, business intelligence and call centre

Asia 2015: 12 venture-backed startups that failed to make it to the next level

Food delivery, apparel, hyper-local logistics services saw startups succumb to ever-increasing competition as they could not lock in the much-needed growth capital.

Battle over Facebook’s Free Basics intensifies in India; tech academia hits out

Free Basics offers free Internet access to a handful of websites and a range of services through mobile phones. However, net neutrality activists say such a move will violate the core principle that all should have unrestricted access to Internet

India: Clearwater Capital sells more shares in Oricon Enterprises

Private equity firm Clearwater Capital Partners has sold more shares in Mumbai-based diversified firm Oricon Enterprises Ltd through open market transaction. On Monday, the PE firm sold around 1.8 lakh shares at Rs 56.04 each, pocketing around Rs 4.92 crore. Post this divestment, Clearwater Capital Partners Singapore Fund III Private… Read more »

India 2015: Sports stars, actors & celebrities grab a meaty role in startup story

Celebrities are diversifying into investing in their own ventures or backing startups at a time when the spotlight is clearly on the Indian entrepreneurship space

India: Panel bats for revisiting PPP model to revive funding in mega infra projects

A high-powered committee set up by the finance ministry to redraw the contours of the country’s public private partnership (PPP) model has recommended ending the one-size-fits-all approach in dealing with project-specific risks, and advocated independent regulators. If the government signs off on the recommendations it would result in a major… Read more »

India: BNP unit picks up 5% stake in Srei Infra in lieu of 50% ownership in JV

India’s Srei Infrastructure Finance Ltd said BNP Paribas SA’s leasing unit would acquire a 5 percent stake in the company in lieu of 50 percent ownership in an equipment financing joint venture. Srei Infrastructure operates Srei Equipment Finance Ltd (SEFL) as a joint venture along with BNP Paribas unit BNP… Read more »

Deutsche Bank to sell 20% in Chinese lender for up to $4b

Deutsche Bank is the latest Western financial institution to scale back in China where caps on foreign ownership have made it difficult to attain strategic growth

India: Flush with funds, Snapdeal to invest in logistics, data analytics to speed up delivery

Online marketplace Snapdeal, backed by Japan’s SoftBank Group Corp and others, will spend more on logistics and technology to better compete with Flipkart and Amazon’s Indian unit, its co-founder said on Monday. Shopping online is becoming more popular in India due to the rising use of cheaper smartphones and e-commerce… Read more »

India Dealbook: Uber plans first engineering centre; Spring Leaf to set up more delivery-only kitchens

Ride-hailing service Uber Technologies Inc. is setting up its first engineering centre in India in Bengaluru to develop country-focused products and solutions. In the food tech space, Spring Leaf Retail, which owns fast casual chain of restaurants Mast Kalandar, is investing in delivery-only kitchens to give a further boost to its… Read more »