Weekly wrap up| Why Housing.com, OYO Rooms, Snapdeal & Jabong are...

Weekly wrap up| Why Housing.com, OYO Rooms, Snapdeal & Jabong are in the news!

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1. Housing.com
The Loncon Solutions Pvt. Ltd, owed property website Housing.com today announced two acqui-hires for an undisclosed amount to boost its supply product portfolio. Housing acqui-hired Plat and BigBHK.

Post the acquisition, Plat’s founding team members (Chitransh Sahai, Gautam Prem Jain, Ayush Lodhi and Ankit Aggarwal) and BigBHK co-founders (Ankur Kumar and Atul Yadav) have joined Housing.com, the online reality portal said in a press statement.

Acqui-hiring is the process by which one company acquires another to gain access to its employees. In such an acquisition, the acquiring company may or may not have any interest in the target company’s products and services.

“With these acqui-hires, Housing.com acquires quality talent from premier institutions such as IIT Delhi and BITS Pilani including Chitransh Sahai, Gautam Prem Jain, Ayush Lodhi and Ankit Aggarwal from Plat and Ankur Kumar and Atul Yadav from BigBHK,” Housing.com said.

Plat will help Housing.com to help drive efficiencies in communications and operations such as posting leads and enhancing property showcase experience, thereby closing deals faster, the statement said.

While BigBHK helps the firm to help its partners to manage their property portfolios with a comprehensive web based property management solution.

BigBHK provides tenants access to a free platform to raise complaints, track rent dues and maintenance amount on a monthly basis. It runs successful operations across Bengaluru, Hyderabad and Pune and is soon foraying into Chennai. (Source: Startup Journal).

snapdeal_logo_screenshot2. Snapdeal
With the launch of Freecharge wallet, Snapdeal is taking on market leader Paytm head on that recently claimed to have more than 100 million wallet users in the country.

And Indian consumers might end up being the will be the winners. Competition is intense in this segment, and Freecharge has promised Rs. 1,000 crore cash back over the next 12 months for users. Paytm says it has already distributed Rs. 900 crore in cashback for its users over the past 12 months and says it plans to continue the cashback offers. “With 87 million combined registered users, we will ensure a seamless transition by offering easy integration and access to the platform,” Anand Chandrasekaran, the Chief Product Officer at Snapdeal said.

Loaded with funds, Snapdeal and Paytm have the potential to grow their customer base in digital bill payment market, which is currently dominated by banks offering electronic payments for utility bills.  Freecharge however believes that it will become India’s most used wallet in the next 6 months on top of its transaction frequency and Snapdeal’s gross merchandise value. (Source: Officechai)

COJU_O0UwAANwF_3. OYO Rooms

Budget hotel rooms service Oyo Rooms has announced the launch of a women-exclusive brand called OYO WE with all-women staff and special amenities for women.

The WE hotels will be equipped with automated door locks, hair dryers, iron and full length mirror in rooms, library with women magazines, doctor and beauty services on call and cab services.  Currently, Oyo WE is operational only in Gurgaon.

OYO said that it considered launching ‘We’ since women travelers made up for up to 40% of its total customers. Deepika Gupta will head WE hotels for OYO.

“Almost 40% of our frequent independent traveller (FIT) are women travellers and we also had queries from corporates on women-friendly properties for their employees, which led to the idea of launching properties dedicated for them,” said Kavikrut, Chief Growth Officer at OYO Rooms.

Oyo WE will be present in 10 cities by the end of this year. The company has purchased 15 properties with investments of Rs 1.5-2 lakh from the property owners to convert them into WE rooms. It will also look at converting existing properties into the WE brand and sign up new properties.

OYO Rooms recently raised $100 Mn From SoftBank, Sequoia and Lightspeed India. (Source: Startup Journal)

Jabong4. Jabong
Rocket Internet backed fashion eCommerce company Jabong is looking for a new CEO. Current CEO and co-founder Arun Chandra Mohan and MD & Co-founder, Praveen Sinha are moving out of the company. Mohan has confirmed his exit citing the reason as working on his new venture in internet mobile segment. While Mohan is expected to leave this month, Praveen will leave by the year end. (Source: Office chai)

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