“Alibaba started the investments again. And the Foodpanda deal can be directly tied to that,” he says. This has now broken the duopoly. Foodpanda has had a few, if not many, loyal customers apart from discount hunters who frequently checked out the app. Now with Ola, and it’s $200 million, the company effectively breaks into … Read moreWhat it feels like when you start from the board?
In December 2017, an otherwise busy warehouse in Delhi NCR was eerily silent. All the stock was sold, and there was no more coming. A few stragglers stayed to pack up the remaining boxes. Most of the employees had been interviewing with other companies for a month; some had new jobs. They were saying their … Read morePlaying to a beat
Given the fact that funding is the dimension along with a startup’s perceived position in the totem pole is decided, it is easy to fall for the temptation of raising as much capital as possible when the opportunity presents itself. But when venture capital becomes vanity capital, it forces a startup down unhealthy paths, most … Read moreRaising small: The power of optionality
It is a difficult meeting. At a busy coffee shop in Gurugram. Music blares from the speakers, coffee machines busy, hissing, and Deepinder Goyal, the CEO, and co-founder of Zomato sits in a chair. He sips his tea, leans forward to hear the questions. What was the email? Did you read the email before he … Read moreAlmost out of Zomato, but Pankaj Chaddah will not talk to you
But then MonkeyBox attempted something new. The B2B model, which resembled a catering business. “I would say this was one of our biggest mistakes. So often parents and well-wishers would tell us that you are doing so well for kids, why don’t you pick up a large corporate order?” Rao says. Financial Assistance He thought … Read moreHow is the financial assistance been provided?
At roughly the same time, Bahl and Bansal sold shares of their own, amounting to Rs 80 crore each ($12 million) for Rs 1,40,000 per share (~$2100). If NEA-Indo-US sold their 8,274 shares at a premium of 50% to this same rate (Bahl and Bansal sold their shares at a company valuation of $4 billion … Read morePresent day – The end of the tango
Unbeknownst to you, there is a war brewing. It is being played out at mom and pop stores, on e-commerce platforms and in supermarkets. But it is quiet and discreet. Those fortifying their bunkers don’t want you to know about it. Not yet. But last month, this skirmish spilled into the public domain when in … Read morePaperboat needs to sell more or sell itself
The first time The Ken meets the founder and former CEO of Loylty Rewardz, Bijaei Jayaraj, it’s at a popular coffee shop in Powai, a suburb in Mumbai once known for being home to the city’s startup ecosystem. He wells up when he recounts what happened in January. “They popped champagne, and my son sat … Read moreLoylty Rewardz and the perfect exit
Demand has been a thorn in the government’s side ever since it launched demand-side incentives under the Faster Adoption and Manufacturing of Electric Vehicles in India-I scheme (FAME-I). Under FAME-II, the government rejigged the subsidy structure and introduced import duties on core battery parts (The Ken has written about this previously). The intention was to … Read moreUnderstanding the complex chemistries
At a recent startup event, Kunal Shah, the founder of the credit card payment platform CRED CLUB (CRED for short), was asked about how he raised so much money. “I am able to raise money now because of past success,” Shah responded. Growth of the online recharge business Few will dispute this contention. After all, … Read moreCRED’s uncertain path from credibility to confidence