Ola Cabs has raised about $1.18 billion in total, in 7 rounds according to TechCrunch. Recently, it raised $500 million at a valuation of $5 billion. This provides the social media a large amount of content to get agitated about, saying goodness, how can a taxi company that doesn’t own any taxis be worth more than 30,000 crore rupees!
But they aren’t exactly valued at that much. […]
I’ve been taking a lot of Ubers and Olas to work. More Uber than Ola , and I get phenomenal conversations because I can speak in Kannada, which is apparently a rare thing in Bangalore, looking at the number of drivers who seem to be delighted.
A great read by Ashish Mishra, on the failure of an Indian e-commerce firm, perhaps the first big one, Indiaplaza.
Starting 2013, the Indiaplaza story went further downhill. One miserable day. After another. People started quitting, debts piled up and Vaitheeswaran found himself cornered. He had knocked on every door he knew and returned empty-handed. Then came the fateful Monday, 12 August 2013, when Indiaplaza vacated […]
Housing.Com CEO Startup Soap Opera Continues as CEO Quits With Dramatic Letter. Is This The Indian Boo.Com?
Housing.com seems to have yet another drama, with it’s CEO Rahul Yadav quitting abruptly. The company is the India TV of the startup world, going brash and batshit insane on anyone that dare criticize it. (See spat with Shailendra Singh of Sequoia or the CEO calling Alok Kejriwal dumb). Investors apparently find this attitude extremely appealing because holy crow, another site that helps you find properties to buy or rent! And with a brash set of founders, with IIT pedigree! That gave it $120 million in funding, with the latest at $90 million as recently as December.
I’ve used both services – Ola and Uber – and am watching […]
For the uninitiated among us (and I am one) it seems there’s this concept called “Jama Kharchi”, which is about converting black money to white. Jama-kharchi , of “accomodating entry” companies which basically make two kind of entities meet:
- One that wants to reduce its profits (and thus, taxes) by showing purchase entries
- Two, that that wants to shore up sales because they […]
Livemint has an inside story on the sale of Redbus.
The development is very sad for the startup ecosystem – because Redbus, at the time of exit, did not let its ESOP owning employees make money. Instead, their ESOPs were converted to ESOPs of the acquirers (Ibibo).
Read this article for more detail.
Update: I have received multiple inputs on this issue, and it seems the details are murky; […]
SEBI has notified final regulations for angel funds. I have noted many of these in the past, so for background:
- Angel Fund Guidelines: Helps the Superangels, Keeps Out Smaller Investors
- Startups in Budget 2013: A mixed bag
- Why do you need such guidelines? The reason is the “Startup Tax” introduced in Budget 2012, to avoid money […]
This is going to be a long post.
Investopresto, a finance portal, shut shop a couple of days back. They follow other illustrious startups to create financial web sites and eventually run out of steam, like paisa.com , moneysights, moneyvidya and many others. This is tragic, and even more to me as I co-founded and shut down Moneyoga three years ago.
Hasn’t Anyone Succeeded?
Some may say the lack of […]
SEBI has introduced new guidelines for Angel Funds. As I’ve said recently, this is an absolutely important requirement in order for startups to avoid the “Startup Tax” (, a tax regulation that classifies investment as “income” if it is at a premium to the “par” value of a share of a company.
The tax […]
The Finance Minister had in his budget speech mentioned that:
SEBI will prescribe requirements for angel investor pools by which they can be registered as Category 1 AIF venture capital funds.
CNBC has the news that SEBI might announce the requirements on July 25 (speculation):