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Ritesh Agarwal

25% pay cut Oyo told its employees in India

Oyo Hotels and Homes has asked all its employees in India to accept a 25% reduction in their salaries for four months, starting April. The announcement comes weeks after the company fur
Ritesh Agarwal

India’s Oyo furloughs thousands of employees as revenue drops by over 50%

Oyo has placed thousands of employees on leave and furloughs for up to three months in the U.S. and several other markets as the Indian budget lodging firm contends the coronavirus outbreak
Zomato funding

Zomato bags $150m from Ant Financial, sources say

Indian restaurant discovery and food delivery app Zomato has raised US$150 million in funding from existing investor Ant Financial, the Economic Times reported, citi
huawei revenue 2019

Huawei’s revenue hits record $122B this year despite U.S. sanctions, forecasts ‘difficult’ 2020

Huawei reported resilient revenue for 2019 on Tuesday as the embattled Chinese technology group continues to grow despite prolonged American campaign against its business, but cautioned that
jio market launch

India’s richest man is ready to take on Amazon and Walmart’s Flipkart

As Amazon  and Walmart-owned Flipkart spend billions to make a dent in India’s retail market and reel from recent regulatory hurdles, the two companies have stumbled upon a new challenge: Mu
MX Player

Tencent invest $111 million on video streaming service MX Player

  MX Player,  a popular video app that offers both local playback and streaming services, said on Wednesday that it has raised $110.8 million in a new financing round led by Chinese in
fitbit latest update

Google reportedly in talks to acquire SmartWatch Maker Fitbit

Google owner Alphabet Inc has made an offer to acquire U.S. wearable device maker Fitbit Inc , as it eyes a slice of the crowded market for fitness trackers and smartwatches, people familiar
wework latest funding round

SoftBank is taking control of WeWork at an ~$8B valuation

WeWork, once valued at $47 billion, will be worth as little as $7.5 billion on paper as SoftBank  takes control of the struggling co-working business, CNBC reports. SoftBank, a long-time We

Tokopedia begins talks for last funding round prior to IPO

SoftBank- and Alibaba-backed unicorn Tokopedia has initiated discussions with potential investors for a private funding round, which is likely to be its last before a dual stock market listi...
Ritesh Agarwal

Ritesh Agarwal to invest $700M in Oyo’s new $1.5B financing round

India’s largest budget lodging startup Oyo Hotels and Homes said today it plans to raise about $1.5 billion as part of a new financing round as the startup looks to expand its footprints in
woman buying a salad at a grocery store

How SoftBank-backed Grofers is taking on India’s online grocery market

At a time when India’s US$600 billion grocery delivery market has become the new battleground for ecommerce giants Amazon and Walmart-owned Flipkart, SoftBank-backed online grocer Grofers ma...

Google-backed delivery firm Dunzo bags $45m in Lightbox-led round

India-based hyperlocal delivery firm Dunzo has raised US$45 million in a round led by new investor Lightbox. South Korea’s STIC Ventures and US-based 3L Capital also participated

Indian accounting app Khatabook bags $25m in series A funding

India-based Khatabook, an accounting service provider for small and medium-sized enterprises in the country, has raised US$25 million in a series A funding round from a slew of high-profile
hello bike china

Alibaba-backed Hellobike bags new funds as it marches into ride-hailing

2018 has been a rough year for China’s bike-sharing giants. Alibaba-backed Ofopulled out of dozens of international cities as it fought with a severe cash crunch. Tencent-backed Mobike ...
google china news

Without a search engine, Google do still doing 5 things in china

Google’s plan to build a censored search engine in China have ground to a halt. Engineers on the so-called “Project Dragonfly” are no longer allowed to view search queries fr...

Tokopedia raises $1.1B from Alibaba and SoftBank’s Vision Fund

Indonesia-based e-commerce firm Tokopedia is the latest startup to enter the Vision Fund after it raised $1.1 billion Series G round led by the SoftBank megafund and Alibaba. SoftBank  a...

Google looks to former Oracle exec Thomas Kurian to move cloud business along

Diane Greene  announced on Friday that she was stepping down after three years running Google’s cloud business. She will stay on until the first of the year to help her successor, Thomas Kur

Shyft raises $6.5M to help retail and service workers swap shifts

Anyone that has experience in the service or retail industry knows swapping shifts can be a logistical nightmare that leaves employees in trouble with management or stuck working during a fr

TikTok Beats Facebook, Instagram, Snapchat & YouTube in downloads last month

Beijing-based ByteDance’s 2017 acquisition of tween and teen-focused social app Musical.ly is paying off. The company this year merged Musical.ly with its own short video app TikTok as a mea
latest technology news

Silicon Valley’s sovereign wealth problem

It’s time to bring the conversation about where Silicon Valley gets its money from out into the open. Following recent revelations into Saudi Arabia’s extensive reach and influence in the US
entrepreneur first

Entrepreneur First, the company builder lands in Bangalore

London-based Entrepreneur First (EF) has expanded its Asia footprint. The company builder announced today that it has brought its “talent first” accelerator program to Bangalore, India – its...
New Travel-Planning Tools

Google launches new travel-planning tools

Slowly but surely, Google  is expanding its portfolio of travel offerings that now range from hotel- and flight-booking services to trip planning tools. Today, it’s launching yet another...
amazon latest news

Amazon web service plans $1b investment in Indonesia

American tech giant Amazon is planning a 14 trillion-rupiah (SS1.3 billion) foray into Indonesia, in another major investment in the South-east Asian digital economy. The plan was conveyed t...
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