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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
The Tamil Nadu government’s ban on all real money gaming in the state couldn’t stand the test of reason in the Madras High Court.
Editor's note: It has been a long time since the real money gaming companies in India breathed easy. At any given point in time, the entire sector is either mired in controversies over people betting (and losing) big money in games like online rummy or consequently, caught in regulatory crosshairs. The past year has been particularly tough. Last year, in November 2020, the Tamil Nadu government outlawed any online game played for stakes, specifically rummy and poker. The government’s ordinance had followed a few cases of tragic suicides in the state, after people lost huge sums of money while betting online. We wrote about the ban and its ramifications last year. This strict ordinance became a stricter act that banned all kinds of games that involved money. For instance, the players could not even wager over tennis, pool, or badminton. The act was immediately challenged in Madras High Court, but the companies have spent the past year in fear—over the loss of revenue, the uncertainty of the future of the business, investors backing out and other states such as Karnataka and Uttar …
The Tamil Nadu government’s ban on all real money gaming in the state couldn’t stand the test of reason in the Madras High Court.
Editor's note: It has been a long time since the real money gaming companies in India breathed easy. At any given point in time, the entire sector is either mired in controversies over people betting (and losing) big money in games like online rummy or consequently, caught in regulatory crosshairs. The past year has been particularly tough. Last year, in November 2020, the Tamil Nadu government outlawed any online game played for stakes, specifically rummy and poker. The government’s ordinance had followed a few cases of tragic suicides in the state, after people lost huge sums of money while betting online. We wrote about the ban and its ramifications last year. This strict ordinance became a stricter act that banned all kinds of games that involved money. For instance, the players could not even wager over tennis, pool, or badminton. The act was immediately challenged in Madras High Court, but the companies have spent the past year in fear—over the loss of revenue, the uncertainty of the future of the business, investors backing out and other states such as Karnataka and Uttar …
In less than two years, the instant delivery startup that puts quality above all else has attracted marquee VC investors, earning a valuation of $255 million. How far the niche bet will take it is anybody’s guess.
Pricing constraints and uncertain daily-use demand cast doubt on instant help’s ability to replicate quick commerce.
The quick-commerce startup weighs a valuation cut or finding alternative funding to stay afloat as investor appetite for loss-making businesses weakens.
In less than two years, the instant delivery startup that puts quality above all else has attracted marquee VC investors, earning a valuation of $255 million. How far the niche bet will take it is anybody’s guess.
Pricing constraints and uncertain daily-use demand cast doubt on instant help’s ability to replicate quick commerce.
The quick-commerce startup weighs a valuation cut or finding alternative funding to stay afloat as investor appetite for loss-making businesses weakens.
