With a confident new generation of innovators, India now has the scale and self-belief to shape its own digital destiny marked by creation, observes Ajay Kumar chairman, UPSC.
Singapore-based e-commerce platform Shopee - that launched in India only in December 2021 - has decided to close operations in the country. The official reason given by Shopee, which is controlled by NYSE-listed Sea Ltd, is changing global sentiments. In a statement, it said, "In view of the global market uncertainties, we have decided to close risks of our early-stage Shopee India initiative." The e-commerce platform has been hit by growing opposition from trade associations led by Praveen Khandelwal as well as homegrown social commerce start-ups.
Bringing a local or non-Chinese partner onboard opens up the possibility of legal recourse to have the ban diluted or revoked. However, the process of going through a review committee and setting up local servers might take at least 3-6 months.
A single application and a plethora of services for passenger cars - that is what myTVS, a brand that operates under Ki Mobility Solutions and is part of the TVS family, is set to bring to customers, in a bid to disrupt the concept of "super apps" in India. Starting July 15, myTVS will launch its connected car platform or super app called myTVS Life360 for aftermarket passenger cars. Through it, customers will be able to avail themselves of a range of services like maintenance, diagnostics, roadside assistance, accessories, payments, insurance, and so on.
Byju's, Flipkart, PharmEasy and CRED, among others, have taken the acquisition route to grow
iPhone, which accounts for just 3% of sales in India's 100 million-plus annual smartphone market, plans to partner an existing player
The PE biggie has committed to pumping money into Jio Platforms, Byju's and Reliance Retail so far this year - all marquee names in their respective sectors.
Not just from the likes of Alibaba and Didi Chuxing, Indian startups saw a surge in Chinese funding from financial investors in 2019. This is a seven-fold jump from $459 million in 2016.
The company has been a part of the start-up ecosystem in a big way from early stages right up to when the companies start achieving full scale.
From PhonePe to Jio, everyone wants to be a Super App but it is still unclear if they will actually work in India.
Over the last 12 months, thanks to bold bets by venture capital firms like Sequoia, SoftBank Vision Fund, and foreign strategic investors like Naspers, pipeline of start-ups with potential to achieve $1 bn in valuation is at an all-time high.
Sachin Bansal, who had co-founded Flipkart with Binny Bansal in 2007, would exit the company
The new entrants are young, enterprising Chinese men and women who want to tap into the promising Indian market.
Swiggy is following a path that seems similar to what Meituan, one of China's largest O2O (online-to-offline) platforms that delivers food, sells movie tickets and offers hotel reservation, has done so far, reports Patanjali Pahwa.
Every day at 9 am, five 20-somethings who live in a 4-bedroom apartment in Bengaluru have a session with their physical trainer. After a workout, they spend the next 8 to 10 hours in their spacious living room, headphones in place and computer screens in front of them. Their salaried job: To play video games for the rest of the day.
