Founded by IIT-Madras graduates, the startup recently ventured into the transportation segment by launching motorcycles and bike rentals.
Tiger Global to tone down current aggressive style; to come up with two-track approach in giving money to companies
Tiger Global Management, the most prolific backer of startups in India, has decided to tone down its current aggressive style here.
“The company would be issuing fresh shares to CLSA Capital Partners.Holisol would be using the funds raised for expanding its business operations.“
Mankind has been growing at a compounded annual growth rate of 20% for the last five years, with revenues touching Rs 3,500 crore in year ending March 2015.
“Companies need to find moats beyond just giving discounts. This slowdown will lead to a cleansing of the system,” said a prominent VC investor.
While a softening of market was expected because of a combination of reasons, including valuations, the situation is becoming severe for startups.
The deal, primarily in cash, will see Axel Springer sell its 91% holding in CarWale five years after first acquiring the stake.
TinyOwl will lay off more than 100 employees — its second round of staff cuts in two months — as it scales back operations in four cities, CEO Harshvardhan Mandad said.
Private equity investors have instead quietly reaped a windfall by backing logistics companies providing back-end support in the ecommerce rush.
In September, TinyOwl laid off about 200 employees. The latest staff cuts will be in marketing, sales and HR teams in Delhi, Hyderabad, Chennai and Pune.
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