wordpress blog stats
Connect with us

Hi, what are you looking for?

500 Startups-backed Walletkit pivots business to a messenger platform

500 Startups-funded Walletkit has pivoting its business to a messenger platform from its existing business  which offers a software-as-a-service (SaaS) platform allowing businesses to create, manage and distribute digital passes to mobile wallets like Apple’s Passbook and Google Wallet, reports Techcircle. Speaking to the publication, Kevin William David, said that the Chennai-based company stopped working on the product as the adoption was less among consumers and merchants for Apple's Passbook and Google's Wallet. David also added that 500 Startups continues to be an investor in the company and still holds 5% stake in the company. Walletkit was part of Dave McClure's 500 Startups fifth batch of startups, and the company was founded by Kevin Rajasekaran and Ramakanth Dorai and they debuted their product in 2013. Startups which shut down in 2014 Earlier in 2014, 500 Startups funded online menswear company  Seat14A shut shop and some of its cofounders left to start their own ventures. Mumbai-based social wishlist site Wishberg  shut down and the founders Pravin Jadhav and Kulin Shah are moved to the Sequoia Capital-backed online recharge and couponing site Freecharge. Online fan merchandising store Bluegape.com  shut down operations due to copyright issues and plans to pivot to a new business model. Bluegape allowed designers and brands to set up merchandise stores and sell through e-commerce platforms like Flipkart, Snapdeal and Amazon. AllSchoolStuff.com, an e-commerce website that sold school supplies, stopped operations. The company had raised about $1 million from Angels Investors Consortium, and some other private investors in 2012. Noida-based test preparation service Vriti  shut shop. Founded in…

Please subscribe/login to read the full story.
Written By

Free Reads

News

Tata Restart website was using the trademark of Tata Sons and the image of Ratan Tata.

News

The hackers used the fake Facebook ads to target people based in European countries, specially male users, said the report

News

GPT-4 Turbo with Vision builds upon the foundation of the GPT-4 model, integrating the enhanced token outputs introduced in the Turbo model, and now...

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

NPCI CEO Dilip Asbe recently said that what is not written in regulations is a no-go for fintech entities. But following this advice could...

News

Notably, Indus Appstore will allow app developers to use third-party billing systems for in-app billing without having to pay any commission to Indus, a...

News

The existing commission-based model, which companies like Uber and Ola have used for a long time and still stick to, has received criticism from...

News

Factors like Indus not charging developers any commission for in-app payments and antitrust orders issued by India's competition regulator against Google could contribute to...

News

Is open-sourcing of AI, and the use cases that come with it, a good starting point to discuss the responsibility and liability of AI?...

You May Also Like

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ