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E Commerce

How Kunal Shah-Backed Mainstreet Hung Up Its Shoes


Mainstreet Marketplace, once a rising star in India’s vibrant sneaker and streetwear scene, is now facing a severe crisis. The startup, which started as a YouTube channel by Vedant Lamba in 2017 and later grew into a major player in the ‘hype-drop’ economy, has seen its operations in Delhi nearly collapse. 

Its flagship South Delhi store has closed, along with its warehouse located in Delhi’s Chattarpur shutting shop. This leaves Mainstreet with no physical presence or logistics capability in the capital.

A warehouse visited by Inc42…



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by Tech In Asia

GoTo’s legal and corporate secretary said the company follows regulations for public companies and will prioritize the interests of shareholders. Source link

by INC42

SUMMARY The due diligence is done, and both sides are negotiating final terms for the cash and equity transaction If the deal closes, it will mark one of the biggest consolidation in India’s auto tech sector Notably, CarDekho entered the unicorn club in October 2021 after raising $250 Mn at a $1.2 Bn valuation. It, however, shut down its used-car retail business in 2023 after high operating costs made it unviable Listed auto marketplace CarTrade is reportedly in advanced stages to acquire rival CarDekho in a deal valued at… Source link

by INC42

From a brand known for its cool urban image and setting the Indian craft brewery benchmark, Bira 91’s survival hangs by a thread.  The startup, which has raised more than $200 Mn in funding to date from investors such as Peak XV Partners, Sofina, and Kirin Holdings, among others, is struggling to move past the slowdown that hit its business last year.   At the centre of the storm are 600 employees, the investors, and Ankur Jain, the CEO and founder of B9 Beverages Ltd, Bira 91’s parent company.  Jain is under pressure to step down… Source link