Uber Eats in India will discontinue operations and direct restaurants, delivery partners, and users of the Uber Eats apps to the Zomato platform, effective Tuesday, a statement said. The deal comes days after Zomato had raised USD 150 million in funding from existing investor Ant Financial, an Alibaba affiliate, at a USD 3 billion valuation.
New York State, the epicentre of the coronavirus pandemic in the United States, continued to record the highest count of daily deaths from COVID-19 as a staggering number of 630 people died in a 24-hour period.
Thanks to technological support provided by BlinkIN, a Bengaluru-based intelligent visual-assistance company, engineers in Wuhan were able to remotely install air ventilation systems in two hospitals in Wuhan, the epicentre of the coronavirus pandemic, reports Peerzada Abrar.
Indian IT giants are outstanding companies with great management teams, but they have been held hostage by their past success.
The largest deal of this year was Centerbridge Partners LP investing $1,157 million in Senvion SE for 100% stake from Suzlon Energy.
The firm will invest over Rs 1,000 crore in marketing, cash backs and promotional spends
Xiaomi easily broke their record from the same event last year.
Chinese foreign policy will acquire a more ideological and less pragmatic character. It will be conducted with more nationalist overtones, predicts former foreign secretary Shyam Saran.
The Gurugram-based company had acquired Lucknow-based drone manufacturer and consultant start-up TechEagle in December, to expand food delivery using drones
The Chinese billionaire and founder of Alibaba is said to be planning a significant investment in business to business e-tailing as well as payment services and logistics companies.
Is it a boon or a curse?
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.
Flipkart faces intense competition from larger global rival Amazon and local rival Snapdeal.
Most Indian start-ups and e-commerce are largely funded by foreign investors
'Saying that Snapdeal is not doing well is beyond premature. Suggesting that someone has won or lost is myopic.'
Policy constraints may prevent many of the global retail giants from reaching their full potential.There are too many restrictions right now in the sector and policy makers lack clarity.
That's because India does not have a serious venture capital industry with an appetite for risk, observes T N Ninan.
'India missed the software products revolution (and now is in danger of missing the platform revolution), complacent that we are the software experts of the world based on IT services prowess,' points out Rajeev Srinivasan.
The international investors who are investing, merging and shaping India's new ecommerce start-ups are betting that if China can produce an Alibaba with an expected market value of $ 170+ billion market value when it does its IPO, India should produce at least one or two with a $5bn+ market value, says Ajit Balakrishnan.
Arora's appointment brings no real transfer of power, says Una Galani.
China remains in firm control of an estimated 600-800 square kilometres of Indian territory.
Internal management tensions, stiff opposition from Chinese handset makers led to halving of the company's market share
'We are against Alibaba investing in Paytm.' 'We are against the concessions given to Paytm.' 'In fact, we want Paytm to close down because of its alliance with Alibaba.'
In the start-up world, hitting the $1-billion mark, which accords the "Unicorn" tag, is a milestone. Enterprises typically reach the milestone only by series C or series D, or three to four funding rounds later. Zeta achieved it at the first one. On May 25, the six-year-old banking tech firm raised $250 million from Japanese conglomerate SoftBank, at a post-money valuation of $1.45 billion. "This is the first time we have raised institutional money," Zeta co-founder Bhavin Turakhia beamed on the conference call. This trajectory is uncommon in start-ups.
A total of Rs 396 crore has been mopped up, as on August 20 against Rs 407 crore collected in the same period last year. This was despite the expansion of the levy to online e-commerce players from this financial year.
'While we may speculate about personality politics, the reality is that there are more important issues that drive the India-US relationship.'
Nivedita Mookerji finds out how Paytm CEO Vijay Shekhar Sharma is handling his soaring popularity after the note ban as well as the criticism that comes as a package deal.
It is part of a global strategy to shrink the footprint. It will be shutting operations in a few countries, including Australia.
The Indian authorities feared that these apps were transferring consumer data to locations outside the country, especially China, in an unauthorised and surreptitious manner. With servers in India, the data of local consumers would be stored in the country.
Google boss's absence at US-China internet forum meet raises eyebrows.
Some BCCI officials are of the view that unless VIVO backs out on its own in prevailing circumstances, the board should honour the remainder of the contract, which ends in 2022.
This marks the second billion-dollar investment by Silver Lake in a Reliance subsidiary after the $1.35 billion investment in Jio Platforms.
The cost of luring buyers and sellers to its platform means the new funds won't last long.
India's e-commerce sector is expected to touch $22bn in 2015.
With RIL's market capitalisation crossing the Rs 11-trillion mark on Friday, Ambani is ahead of Google co-founders Larry Page and Sergey Brin, the 10th and 11th richest, respectively, and behind Zara founder Amancio Ortega on the Forbes Real-time Billionaires List.
Experts argue that the top two players in each category will receive funding sooner or later, but for laggards, the market is still challenging
To take on China's Alibaba, Baidu bought stake in Uber.
The industrial partnership of China and India can bring about greater investment and employment.
Byju Classes' founder Byju Raveendran, Zomato co-founder Gaurav Gupta, CEO of Antara Senior Living, Tara Singh Vachani, Vinati Organics' MD & CEO Vinati Mutreja and Swapan Mehra, CEO of Iora Ecological Solutions are among 115 young leaders.
'Modi's recent decisions to improve India-China relations, adjust India's neighbourhood policies and to rebalance India's ties with the major powers are linked to his political agenda.' 'Of course, the good part is that this agenda is also in the national interest,' says Ambassador M K Bhadrakumar.
