Talks began after Reliance's negotiations with China's Alibaba Group to sell a stake in the retail entity fell through due to differences over valuation.
RuPay is being increasingly preferred, albeit on a low base, and industry execs say this could be because more people are using cards for payment in smaller cities and towns.
For some executives who moved from banks and other NBFCs with hefty pay hikes, going back is not an option because of their optimism in the sector and their current salaries.
The Bengaluru-based scooter sharing apps claim they are doing a little more than 100,000 rides a day combined, even as their presence is limited outside the city.
Moribund global mobile phone sales have led Apple to focus on accessories like the Apple Watch and growth in music, apps, gaming, video and a credit card coming in August
About 5% or 20-25 employees in India have been affected by the ride-hailing company’s move largely in the central marketing team based out of Gurgaon, sources in the know told ET.
Pocket Aces will use the proceeds from the latest round to further invest in content, technology and talent, according to an official statement from the company.
Existing investors including Accel Partners, Sequoia Capital, Chiratae Ventures and others are likely to lead the first funding round, one of the people said.
Banks are traditionally cheaper sources of capital, but their credit checks tend to be more rigorous. So, most new-age lenders source funds from larger traditional NBFCs.
The funds will be used to set up new warehouses, strengthen cold chain, set up facilities to reprocess fruits and vegetables and scale-up milk subscription business
The slowdown in spending on banking, financial services and insurance (BFSI) has emerged as a key concern, industry insiders said, even as they remain wary of a spillover effect into other verticals.
Binny Bansal, Azim Premji Foundation and Kiran Reddy, who previously headed SPI Cinemas, are among the Limited Partners for Alteria Capital’s first fund
Udaan, founded by former top Flipkart executives Vaibhav Gupta, Amod Malviya and Sujeet Kumar, is estimated to be doing clocking $1.2 billion in annual gross merchandise value or GMV.
While Paytm, PhonePe and Google Pay offer QR codes and acquire their own merchants as well, entities like BharatPe act as aggregators, onboarding merchants for all forms of Unified Payments Interface (UPI)-based payments.
Over 100 enterprises and companies in the fintech space, online insurance companies, hospitality and travel aggregators are using WhatsApp’s business API to communicate and exchange information with customers.
Twitter shares vaulted higher Friday after a second-quarter update showed better-than-expected revenues and growth in users even as the social network cracks down on fake accounts and inappropriate content.
The second fund's investor base reflects a diversification beyond the Middle Eastern oil money that provided most of the first $100 billion fund's outside capital
Top South Indian celebrities Mahesh Babu and Samantha Ruth Prabhu are launching their own private brands on influencer-led fashion e-commerce portal Spoyl
Facebook survived its latest brush with U.S.privacy regulators, at the cost of a record $5 billion fine and other restrictions imposed by the Federal Trade Commission.But it's far from home free.
ET was the first to report that Cars24 has applied for an NBFC licence much like other internet companies who are trying to enter the financial services space.
The startup plans to use the funds raised to focus on building unique phygital interactions, new product developments and expand its retail presence from 15 countries to more than 30 countries
India’s tax department may levy a blend of integrated goods and services tax and customs duty on products ordered from Chinese ecommerce companies to curb illegal imports.
Executives from the digital advertising industry say the time has come for regulation on the lines of traditional advertising, with a monitoring mechanism in place.
The committee, led by Economic Affairs Secretary Subhash Garg, has proposed jail terms of up to 10 years for anyone indulging in crypto activities like mining and trading
The three-year loans that has already caused stir in banking and technology circles have been given against shares. They are expected to get repaid during the company’s proposed IPO in three years time.
SoftBank, which opened an outpost in Mumbai recently, will hire at least six operating partners who will not only spot opportunities for prospective investments, but also help portfolio companies scale up globally
Hindi, Bengali, Tamil and Telugu are being widely adopted, companies say. They are offering products in these languages to enter tier II locations and beyond.
The launch, originally slated for the early hours of last Monday, was aborted after a pressure drop in one of the tanks in the upper stage of the rocket.
A distinguished jury led by Kotak Mahindra Bank MD & CEO Uday Kotak chose nine winners from a shortlist of 40 contenders for The Economic Times Startup Awards 2019
State-run lenders would set up infrastructure in one district per state to underpin digital payments, helping New Delhi achieve its objective of giving more citizens access to formal financing
This week in the funding round, 13 funding deals were announced in the week which ended July 18th, of which, eight can be classified as early-stage deals.
"TikTok confirms to adhere with the due diligence process mandated under the Intermediary Guidelines 2011 of the IT Act 2000," MeitY said in its letter to the PMO.
The latest development comes at a time when ShopClues has not been able to find a buyer after months of negotiations with bigger rivals like Paytm Mall and Snapdeal.
Cloud gaming infrastructure and platforms provide the backbone for these new-age gaming companies, which may not want to make huge investments in technology.
While the company did not disclose the exact sum, sources briefed on the matter said that the venture had raised about $5 million in its latest round of funding.
The three-year old Delhi-based startup claims to have already registered Rs 100 crores in FY'18 as gross sales and is eyeing Rs 500 crores in the next couple of years.
This comes at a time when Banning of Cryptocurrency and Regulation of Official Digital Currency Bill 2019 is in the initial stages and is being discussed by Indian regulators.
The Isro had to postpone the launch of Chandrayaan-2 on July 15 following the detection of a last minute leak in the cryogenic stage of the GSLV-MkIII.
The company will utilise the capital to strengthen its product, invest in new technologies such as Blockchain, artificial intelligence, and machine learning and expand its global footprint.
Clients of IBM, TCS and Wipro are starting to use blockchain solutions of these big technology firms in live projects, in a shift away from using them for proof of concept or pilot projects.
Oyo founder Ritesh Agarwal has set up a Cayman Islands-registered entity, RA Hospitality, which will look to make fresh investments in the SoftBank-backed hospitality chain
Rivigo has been under pressure from investors to cut costs, move away from an asset-heavy business, and improve its unit economics across all business verticals.
The move is significant as Indian foreign direct investment (FDI) rules prohibit foreign-owned ecommerce marketplaces from directly or indirectly influencing the price of products sold on their platforms.
In January, Amrish Rau stepped down as India CEO of PayU to take up a broader role within Naspers Fintech. Both, Gupta and Rau had joined from Citrus Pay
The changes are part of its global roll out its new website design in the next few weeks as it seeks to improve user engagement and make the web experience consistent with the mobile application.
The investment comes as the government identifies chips as one of several sectors in which it wants the country to become more self-reliant under its "Made in China 2025" initiative.
SoftBank’s interest in Piramal’s business, with no underlying technology, stems from its bullishness about the overall financial services and consumer lending sector.
The FTC has been investigating allegations Facebook inappropriately shared information belonging to 87 million users with the now-defunct British political consulting firm Cambridge Analytica
India will step up the international space race on Monday when it launches a low-cost mission to become only the fourth country to land a probe on the moon.
The investment will be going into the company’s subsidiary Qdigi Services, which provides after sales services for smartphones and other consumer electronics and durables.
The move comes amid growing concerns that automation and robots are killing low-skilled jobs and that many workers lack training for new roles being created by technology.
The common thread connecting these companies is a focus on solutions that range from bots for local language banking telephony to social platforms that intuitively connect farmers to agricultural experts.
The company cited a “large” potential investment round falling through as the reason for the retrenchment, according to an employee who spoke to ET on the condition of anonymity.
Flipkart has cut a bulk of its marketing spend on Jabong, and has been giving incentives to users to move from the Jabong app to Myntra over the past few months.
India’s technology-based logistics sector has been a hotbed of risk capital activity over the last few months, with almost every major company operating in the space raising substantial amounts of capital.
The Walmart-owned company is yet to decide whether to completely fold Flipkart India, the wholesale entity, or scale it down to service only small online sellers.
In the RBI's vision document for 2021, the central bank said it would consider shifting from transaction value-based pricing slabs to a fixed minimum transaction-based pricing
The company will primarily use the proceeds to ramp up infrastructure. Moglix is currently present in 14 locations, and plans to be in 22-25 industrial hubs.
Amazon & Flipkart officials have informed sellers that there will be no preferential treatment for any vendor, all will be levied uniform seller commission and logistics rates.
Large share offerings to reduce promoters' shareholding to 65% in companies could diminish investor appetite for IPOs, say experts; demand from FPIs, too, will be crucial.
Paytm is eyeing multiple ways to expand products and start making money off users including tapping gaming, content, commerce and wealth management, said founder Vijay Shekhar Sharma in an exclusive interview with ET.
The industry’s demands also look at more long-term interventions to boost e-commerce exports and promote the entry of more high-quality talent into startups.
The firm has already backed the likes of Hector Beverages, maker of Paper Boat beverages, and cosmetic brand Sugar, and will cut cheques of $10-30 million.
The Delaware- and Bengaluru-based company will use the proceeds from the Series B round for brand building, acquisitions, product development and expansion.
The transaction, which is expected to close by the end of the month, will value the five-yearold company at $500-600 million, according to multiple sources aware of the development.
Separately, Japan’s SoftBank, which operates the world’s largest pool of private capital, has also had discussions with DailyHunt, to invest $120-150 million.
FDI blueprint, aimed at opening sectors like Digital Media, Insurance, Information Utilities and Contract Manufacturing, is ready and will be sent to Cabinet in a few weeks time.
The meeting, the first one after a long time, was called to discuss the fares amid complaints from cab drivers that their daily earnings have come down in the recent past.
While the finer details are still being evaluated, payments firms are looking at fresh business opportunities in the government’s push towards penalising cash payments.
Infosys has hired more than 9,100 people in the US since 2017, much in line with former CEO Vishal Sikka’s stated goal of hiring 10,000 people in its major market.
The Minister also stated that special administrative arrangements will be made by CBDT for pending assessments of startups and redressal of their grievances.
Startups seek govt push for tech innovation, focus on training and skilling initiatives for entrepreneurs—all of which will cement India's position as a hotbed for startups.
Quoting the multiple transaction modes available like NEFT, IMPS, RTGS and UPI, the minister said that there is an urgent need to adopt these payment modes instead of cash.
Rajeev Misra, who heads the SoftBank Vision Fund, told ET in an exclusive interview that the Japanese group will help bring over 20 companies to India from its present portfolio.
Pinaki Mishra, MP from Puri of the Biju Janata Dal, and Jayadev Galla of the Telugu Desam Party representing Guntur constituency, raised these concerns in parliament.
Facebook has introduced various initiatives to lure video creators, but it has not been able to rope them in large numbers, experts tracking the space said.
Ola has been engaged in a race to raise capital while at the same time diversifying its investor base to save itself from ceding too much control to its largest shareholder SoftBank
Facebook will work with VC funds to skill and mentor the SMBs by sharing insights on best practices, proven solutions, playbooks, vertical-insights among other key learnings.
Maharashtra ranks on top followed by Karnataka (2,847), New Delhi (2,552) and Uttar Pradesh (1,566). Mumbai and Bengaluru are among India’s top three startup capitals.
The assertion follows last month’s high-profile meeting where the minister Piyush Goyal is said to have asked Flipkart if it was compliant with the latest FDI norms.
Freight Tiger offers a technology platform for real-time consignment tracking by integrating into the systems of the consigner, third-party logistics service provider as well as the consignee.
The company intends to foray into Delhi NCR, Mumbai, Chennai and Kolkata with the help of the new funds. It had also raised equity funding to the tune of $ 17.2 million in its series B round.
Earlier this month, Mumbai Customs seized about 500 parcels of Sino India Etail, the official Indian seller for Chinese apparel and lifestyle etailer Shein.
The startup, which makes accounting and business record-keeping simple for small merchants and entrepreneurs, may also get an additional $5 million from Chinese investors.
Student housing companies are investing in technology to differentiate themselves by being markedly different from traditional university-led hostel systems.