Ola, the country’s largest cab aggregator has shut down its food-delivery service ‘Ola Cafe’ within a year of its operation. Ola has withdrawn the option to book bike taxis through its app. So let’s look at some of the news which made headlines in the startup space this week.
1. Good news for Startups as Government relaxes norms under public procurement
As a fresh move the government today relaxed procurement norms related to experience and turnover for micro, small and medium startups with a view to enabling these ventures to be part of its public procurement. From April 2015, all PSUs, central government ministries and departments have been directed to procure at least 20 per cent of products and services required by them from micro and small enterprises.
2. Nielsen acquires mobile usage measurement platform Informate
Nielsen has acquired mobile usage measurement platform Informate for an undisclosed amount. Nielsen and Informate Mobile Intelligence have worked since five years to improve innovative smartphone metering technology to provide insights into evolving consumption patterns of mobile device users and expand its client base.
3. 5-fold hike in budget 2016 for funding startups
The government announced a five-fold hike in its budget for funding startups in the next fiscal, a move which is in line with Prime Minister Narendra Modi’s ambitious ‘Start-Up India‘ initiative. It will provide seed capital to 50-80 new ventures with funding ranging from Rs 50 lakh to Rs 1 crore per startup. The government has increased the overall funding to startups from Rs 40 crore to Rs 200 crore.
4. Ola shuts down its food delivery service Ola Cafe
Ola, the country’s largest cab aggregator has shut down its food-delivery service ‘Ola Cafe’ within a year of its operation. This news comes after a week of its shutting down hyperlocal grocery delivery service ‘Ola Store’ which surfaced in the media. The Ola Cafe icon has disappeared from the Ola app, nationally. Users in Bangalore, Mumbai and Delhi have confirmed that the service is no longer available.
5. Facebook acquires a selfie video filter app Masquerade
Facebook announced that it has acquired Masquerade (aka MSQRD), a selfie app that lets you do face-swaps and record silly video animations of yourself and share them across social media. The acquisition comes in just when the company had started focusing on its video features.
6. Housing’s Co-Founder Advitiya Sharma Quits
Housing.com co-founder Advitiya Sharma has quit the company to pursue a new business. Advitiya has played an invaluable role in the birth of Housing. It’s always hard to say bye to a friend and colleague, but we’re excited about what he will create next.
7. Tech Mahindra to spin-off 3 internal startups in next 18 months
Tech Mahindra expects to spin-off three of its internal startups in the next 18 months. This move will give much needed boost on the value IT companies derive from investments in employee ideas. For over the last five years, Tech Mahindra has been building companies internally. Now, three of them are ready to stand on their own feet.
8. Uber signs pact with Haryana govt, to invest Rs 120 Cr in tech based ride sharing services
Cab aggregator app Uber has signed a pact with the government of Haryana. Through this pact, Uber will be investing Rs 120 crore in technology based ride-sharing services in near future. The memorandum of understanding (MoU) was signed at the Happening Haryana Global Investors Summit 2016.
9. Home services startup UrbanClap shuts down laundry services
Gurgaon-based UrbanClap one of the top two home services provider, has shut down its laundry services barely six months after launch. An UrbanClap’s spokesperson confirmed that the company had discontinued its laundry service but declined to offer further details.
10. Ola Quietly Removes Bike Taxi Icon From App
Ola has withdrawn the option to book bike taxis through its app. The company has quietly withdrawn the bike taxi icon from the app and the service is no more available.Ola & Uber launched bike taxi services last week on the same day. However, within a day, Ola and Uber faced law infringement notice from the Karnataka State Transport Department for violating the Motor Vehicles Act and continuing to operate without requisite permission.