The coronavirus pandemic has not only affected human interaction but has brought the economy to a complete halt. The impact of the crisis can be seen taking a toll on several new-age startups and SMEs who have now resorted to cost-cutting measures. Companies like OYO, Swiggy, Meesho, Bounce, Udaan, and Paytm have either laid off […]
Tag: Business Closed
Mumbai-based online beauty retailer Nykaa recently announced that it has raised ₹100Cr from existing investor Steadview Capital. Nykaa had earlier raised ₹100Cr from Singapore-based investment firm TPG Growth at a valuation of $724mn in March 2019. It was also being speculated for quite some time now that Nykaa has been planning for larger funding round […]
Citing ongoing market meltdown due to the coronavirus pandemic, securities brokerage company IndiaNivesh announced the closure of its Portfolio Management Services (PMS) business. In an email to PMS investors dated March 29, IndiaNivesh’s Managing Director Sandeep Jain said, “In view of the current market volatility pursuant to the global outbreak of COVID-19 and its long […]
Amidst a global fear of the flu-like Coronavirus, many corporations around the world have decided to temporarily shut their operations in China. With the virus spreading fast, an alarm has been set off across the globe with companies shutting their stores, putting travel restrictions on employees and warning of a financial hit from slowing business […]