Listed below are some of the major news of the startup sector, take a look to stay updated:
Bike taxi startup Rapido buys Hyderabad peer Getbike
Bengaluru-based bike taxi startup Rapido has acquired Hyderabad rival Getbike to enter the business-to-business segment, as per media reports.
Rapido co-founder Aravind Sanka and Getbike founder Shravya Reddy have confirmed the development. Reddy will move to Bengaluru as part of the deal. The executives didn’t disclose financial details of the deal.
Media reports had claimed in September last year that both the companies were in talks for a deal.
School supplies startup Edyoo gets pre-Series A cheque
Edyoo, an e-commerce platform which sells products primarily used by school going children, has raised $1 million (Rs 6.8 crore) in pre-Series A funding from RS Shanbag, chairman and managing director of the diversified Valuepoint Group.
Bengaluru-based Edyoo said in a statement that it will use the fresh capital for product development, technology, marketing, and to expand its team and areas of operation.
Owned and operated by Edyoo Technologies Pvt. Ltd, the startup was founded in June last year by Rakshit Kejriwal.
The online marketplace offers items such as books, uniforms, stationery, water bottles, among others for children between the ages of four and 18.
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Ex-Flipkart execs’ reverse auction-based e-comm firm gets seed funding
Arzooo.com, a reverse auction-based e-commerce platform launched by two former Flipkart executives, has raised an undisclosed amount in seed funding from early-stage investment firm Omphalos Ventures India.
Khushnud Khan, co-founder and chief executive officer of Arzooo, said that the money will primarily be used for strengthening its technology team. In addition, the Bengaluru-based firm will also fund its expansion plans with the fresh capital.
Arzooo was founded by Khan and Flipkart colleague Rishi Raj. The duo set up the reverse auction platform in July last year. In a reverse auction, sellers bid for the prices at which they are willing to sell their goods and services.
Uber drivers handing out ‘Try Ola for free’ card to passengers in Australia
India’s biggest cab-hailing firm Ola has managed to convince its rival drivers to promote ‘Try Ola for free’ campaign in Australia.
Uber drivers in Perth are handing out promotional cards to the passengers and asking them to switch to Ola. Drivers are motivated by Indian ride-hailing lower commission model, which is as low as 7.5 percent while Uber Australia charges around 27.5 percent.
In January 2018, Ola had announced the launch of its operation in Down Under. In three months of operation, it claims to have 30,000 drivers signed up on its platform. Ola is doing 11,000 rides a day with an average ticket size of Rs 1,000 in Australia.
Uber is Ola’s primary rival amongst the presence of ride-hailing firms GoCatch and Taxify in the Down Under.
Today’s Take Away:
Obstacles are inevitable on the path to success. But that should not be demotivating any of us.
As Warren Buffet, Berkshire Hathaway chairman and CEO has rightly pointed out, we need to deal with our hurdles one at a time. He says,
“I don’t look to jump over 7-foot bars — I look for 1-foot bars that I can step over.”
