This week, Quikr acquired realty portal CommonFloor. Grofers shut down its operations in 9 cities. There were many more news throughout the week, so let’s look at some of the news which made headlines in the startup space this week.
1. Is it all over for LocalBanya, as its efforts for revival fail
Mumbai based Online grocery startup Localbanya‘s last effort for revival seems to have failed as its discussions with the three major investment groups for fresh funding have fallen through.
2. Quikr acquires realty portal CommonFloor for an undisclosed amount
CommonFloor which has been running from eight-years as an independent company is finally coming to an end. Online classifieds player Quikr today announced it has acquired realty portal CommonFloor in an undisclosed amount. This ends months-long speculations of the deal.
3. Netflix launches in India; basic monthly subscription at Rs 500
Netflix Inc, the world’s largest independent video streaming company, has officially announced its entry into India as part of a wider international expansion and 130 other markets in Asia, the Middle East, and Europe.
4. Uber’s founder Travis Kalanick among big names to attend Modi’s Start-up India event
Ride-hailing service Uber’s founder Travis Kalanick, SoftBank’s founder Masayoshi Son and collaborative workspace provider WeWork’s founder Adam Neumann will attend the government’s Start-up India event next week. Prime Minister Narendra Modi will unveil an action plan to assist early-stage companies.
5. Drug regulator warns e-pharmacies against breach of regulations
The Drugs Controller General of India (DCGI) said on Monday that it will ban companies selling medicines online if they are found to be violating the rules. At present, there is no ban on the sale of medicines online, although drugs can’t be sold without doctor’s prescription.
6. Grofers shuts down its operations in 9 cities
Gurgaon-based hyperlocal delivery start-up Grofers has shut down its operations in 9 cities – Bhopal, Bhubaneswar, Coimbatore, Kochi, Ludhiana, Mysore, Nashik, Rajkot and Visakhapatnam. The employees in these locations have been offered positions in other cities.
7. Times Internet Acquires Micro Content App – ViralShots
Times Internet, the digital arm of Times of India Group has acquired Gurgaon based Viral Shots for an undisclosed amount. Viral Shots is a micro content mobile app that extensively curates stories from over 300 social and web destinations and is clocking approx. 100 million screen views per month.
8. Ratan Tata invests in market research platform Tracxn
Tracxn, a startup intelligence and market research platform has raised an undisclosed amount in funding from Ratan Tata. Tracxn was founded in 2013 by ex-investors Neha Singh (ex-Sequoia Capital) and Abhishek Goyal (ex-Accel Partners).
9. FIR Filed Against Snapdeal For Selling Maggi During Ban
An FIR has been registered against the CEO and founder of Snapdeal for allegedly selling popular Maggi noodles online during the ban period, in five Indian states. This was sold in five states of the country, including Rajasthan during the period of ban between June 7 and October 30 last year, said police.