PhonePe, the payments arm of Flipkart, is set to enter financial services, starting with selling mutual funds through its app. The move comes at a time when the fintech space is seeing heightened action with multiple startups raising capital in the last two weeks. PhonePe aims to tap the growing base of millennials looking to […]
Archives for January 2019
Flipkart founder, CEO booked for ‘cheating’ buyer
An FIR was registered on Saturday against Flipkart founder Sachin Bansal and CEO Kalyan Krishnamurthy following a complaint of cheating lodged by a Ghaziabad-based lawyer. The complainant, Naushad Chaudhary, alleged the company had sold him a laptop having features different from what was mentioned at the time of sale on the Flipkart app installed on […]
Domestic e-commerce firms oppose extension of Feb 1 deadline
Domestic e-commerce companies Snapdeal and ShopClues, social commerce startups including Shop101, and a bunch of online-only brands have come together to oppose any extension of a February 1 deadline for online marketplaces to comply with FDI rules. This is the first time smaller online retailers have voiced their concerns to the government after last month’s […]
Ola cuts investment in Foodpanda, to narrow focus on cloud kitchen private labels
India’s largest ride hailing app Ola has more than halved its cash burn at its food business Foodpanda and plans to make its private label brands the cornerstone for growth, even as the food tech war gets more aggressive, driven primarily by deep pocketed rivals Swiggy, Zomato and UberEats’ continued discounting, three people directly aware […]
Netflix puts ‘Fortnite’ in crosshairs as streaming wars heat up
Photo: Elise Amendola Netflix, moving to fend off the challengers in the war for streaming media dominance, is taking aim at competitors from the video game world, notably “Fortnite.” The dominant online television service has begun efforts to become more interactive as part of an effort to keep its viewers from turning to service like […]
Kyber Plans To Implement Its Protocol Across Smart Contract- Enabled Blockchains
Kyber protocol has always stood out in the crypto world because its on-chain liquidity protocol enables instant and seamless transactions between platforms, ecosystems and other use cases. But now the team behind Kyber protocol is planning to move a step ahead and bring its protocol across smart contract– enabled blockchains <![CDATA[ ]]> Kyber lists down […]
India under pressure as China joins WTO talks on E-commerce
China’s sudden move to join the US, Japan, Australia, EU and Singapore for developing trade rules for ecommerce has put pressure on India to join the talks, which have been opposed by more than half of the World Trade Organistion (WTO) members. China, which joined the league of 75 other countries on Friday had, till […]
YouTube to stop promoting misleading & conspiracy theory videos
YouTube said Friday it will stop recommending specious videos such as those claiming the earth is flat or promoting bogus theories about the September 11, 2001 attacks. The global video streaming service planned to modify its viewing recommendation system gradually, starting in the United States and later expanding to other countries. Google-owned YouTube, part of […]
MoneyGram exploring options, including potential sale: Sources
A MoneyGram kiosk is seen in New York, U.S. January 3, 2018. REUTERS/Shannon Stapleton MoneyGram International is exploring strategic alternatives, including a sale of the money transfer company, a year after a U.S. government panel nixed its $1.2 billion sale to China’s Ant Financial, people familiar with the matter said on Friday. The Dallas-based company’s […]
Naspers takes full control of Russian classifieds website Avito
South Africa’s Naspers has taken full control of Russia’s largest classified advertising platform Avito after it spent $1.16 billion to buy the 29.1% it did not already own, the media and e-commerce group said on Friday. Reuters had reported earlier on Friday that Naspers was nearing a deal to buyout minority shareholders in a transaction […]