OYO, a travel tech business, posted a net loss of 333 crore rupees in the second quarter, down from 414 crore rupees in the first quarter. The Securities and Exchange Board of India (SEBI) received the company’s H1 results on Saturday. In the first and second quarters, OYO’s adjusted EBITDA increased eight times, from Rs …

IPO-bound OYO discloses a net loss of Rs. 333 crore; EBITDA increases by 8x Read More »

Sources have confirmed that e-commerce and technology giant Amazon has informed the Labour Ministry that all resignations made in accordance with the Voluntary Separation Policy are voluntary and that no employees are being subjected to excessive pressure. The Voluntary Separation Program plan that Amazon had distributed to its Indian employees had become the subject of …

Amazon denies terminating workers in India; the next Labor Ministry hearing is in two to three weeks Read More »

Amazon is closing its online learning division, Amazon Academy, in India due to the slump in edtech. The portal, which was introduced in early 2021 during the pandemic-driven edtech boom, operated in the “test prep” market and provided online coaching for entrance examinations like the IIT-JEE and NEET. “Amazon will discontinue Amazon Academy’s operations in …

Amazon will close its online learning business in India due to the slowdown in edtech. Read More »

Sukoon Healthcare, a healthcare start-up with offices in Gurgaon, has received a $15 million investment from global private equity company Lightrock India. The money will be used to extend its activities across several locations, offer more specialised services, and build its network by working with other businesses already active in this market. Despite neither party …

PE firm Lightrock India invests $15 million in mental healthcare start-up Sukoon Read More »

The Union Labour Ministry has notified IT and e-commerce giant Amazon about the recent layoffs in India. The company has been summoned by A Anjanappa, the deputy chief labour commissioner, to question the voluntary separation programme (VSP). Smitha Sharma, the public policy manager for Amazon, has been asked to a hearing on November 23. Amazon’s …

Amazon gets notice from the Indian Labour Ministry regarding layoffs in India Read More »

Chingari, an Indian competitor to Tik Tok, has introduced a content monetisation scheme for its users and artists.  The cost of the daily, weekly, and monthly plans is, respectively, Rs 20, Rs 30, and Rs 100. The business claimed in a statement that by making this change, the creators’ community will be able to double …

Chingari, TikTok’s Indian rival, introduces revenue-sharing programmes for users and content creators Read More »