NRAI, which met representatives of food aggregators Swiggy and Zomato to find ways to resolve the issue on Thursday, said Zomato’s stand was completely “unacceptable”.
People like Levandowski, Travis Kalanick and Elizabeth Holmes are regarded as scrappy, visionary entrepreneurs, until they go too far, receive unwanted attention or someone with power (or courage) stands up to them.
Udaan is an e-marketplace to facilitate the purchase of goods by retailers from wholesalers and traders across categories including apparel, electronics, pharmacy, staples and FMCG.
In an email sent to select brands, Flipkart said it planned to launch special products during the flagship Big Billion Days sales, with some even packaged as Flipkart exclusives.
If the deal goes through, it will be Flipkart’s third investment in the logistics space after earlier backing trucking platform BlackBuck and locker provider QikPod.
These compliance reports have to be uploaded by September 30, and in this instance will cover only the February-March 2019 period, as the new FDI norms came into effect from February 1.
MeitY’s response to DPIIT will also clarify the point that the PDP Bill will only address privacy and security issues related to personal data and not information in the public domain.
PE players are selling 6.9% in the company for Rs 93.65 crore to the promoters, whose holding will increase to more than 85%, Micromax said in its latest regulatory filings.
The webstore is likely to come up over the next 3-5 months as it involves duplicating its global online store template for the Indian market, said the executives who are aware of Apple’s plans.
The Series E round, which has also seen participation of growth-stage public investors, whose names were not disclosed, along with Sapphire Ventures, also an existing backer of the Palo Alto and Bengaluru-based company, values the venture at $1.95 billion.
The RV300, which is the company’s entry-level offering, will be available at a monthly charge of Rs 2,999, while the RV400 will come with two plans – Rs 3,499 per month and Rs 3,999 per month.
It may be that something isn’t working about Amazon’s appeal in some countries, or the company is having trouble with local retail competition, thorny logistical challenges, apathy among shoppers or prospective vendors or other forces.
The National Restaurant Association of India (NRAI) conveyed this in a letter earlier this week, and comes after it clashed with rival food delivery app Zomato over its discount and membership programmes
While standalone bike operators like Rapido have tasted some success, deep-pocketed taxi aggregators are struggling to grow their two-wheeler services due to the lack of regulations.
Westbridge Capital will become the single largest shareholder in Rapido with 22.15% holding, while Nexus VP has increased its holding in the company to 12.5%.
"We are going to sound out TikTok on this issue, prima facie the company looks on the backfoot on this," a senior government official told ET. Officials who spoke on this matter did so off record.
NRAI Mumbai chapter head Anurag Katriar said the association has written official letters strongly raising the prevailing concerns to the online aggregators.
Niti Aayog's roadmap includes setting up five centres of research excellence, 20 institutional centres for transformational AI and a cloud computing platform called AIRAWAT.
Nayyar will be responsible for all the financial services business like lending, insurance, wealth management, stock broking at the company. He will report directly to Paytm founder Vijay Shekhar Sharma.
BharatPe’s co-founder and CEO Ashneer Grover told TOI the company’s existing investors Sequoia Capital, Beenext Capital and Insight Partners have also participated in this financing round
Apart from FreshToHome, there are older companies such as Gurgaon-based Zappfresh and Bangalore-based Licious which have both tried to make inroads in to the fresh meat sector.
SoftBank is expected to invest in a $400-million round of funding in Lenskart, while it is expected to invest about $150 million as part of a larger round in Dailyhunt, said three sources briefed on the matter.
Building for ‘Bharat,’ or the next 500 million internet users, promises to be the biggest, yet the most challenging opportunity over the next decade for India’s consumer tech giants
The award winners were felicitated by union ministers Ravi Shankar Prasad and Piyush Goyal at a grand ceremony last Friday, attended by over 350 of the country's top entrepreneurs and policymakers
Union finance minister Nirmala Sitharaman announced a slew of relief measures for a slowing economy, including the scrapping of the “angel tax” for startups.
According to Google Trends, the interest in the term has been high since the last one year, peaking to 100 in October, and the curiosity for such content is the highest in Mizoram, Nagaland and Meghalaya.
“Bharat is about high volumes, low cost, video, voice, local language, full stack and consistent experience,” said Nandan Nilekani, Chairman of Infosys and architect of India’s biometric identity infrastructure Aadhaar.
The government is the process of finalising its data protection bill that includes divisive issues such as mandatory storage of Indian critical and sensitive data within the country.
The restaurateurs have come to meet me as well said Goyal. Goyal joked that he would lock Zomato and the restaurateurs in a room until they reach a resolution.
While the banking regulator has taken the first major step, the next would be to allow recurring payments on Unified Payments Interface (UPI), industry insiders said.
Some technology experts are asking whether TikTok’s exclusivity claim may affect the intermediary status social media platforms enjoy under the IT Act.
Zomato cofounder Deepinder Goyal said they would not continue to negotiate with its partner restaurants on the company's discount programmes- Infinity and Gold.
Customers will be able to choose from 5,000 fruits and vegetables, dairy, meat, ice-creams, and dry grocery like staples, packaged food, personal care and home care
With the proceeds from its recent fundraising, Knotel intends to get “way deeper” in cities it’s already present, such as New York, San Francisco and Los Angeles.
The digital payments industry's top executives met officials of the finance ministry last week to discuss the challenges around removing all forms of charges on digital payments
For industry leader Tata Consultancy Services, the number of patents has touched 4,596 in FY19 from 1,746 in FY14, with over a thousand being granted already.
While the government has not spelt out video KYC through the amendment, the move clears the path for regulators like the Reserve Bank of India or others to come out with such guidelines
The National Restaurants Association of India (NRAI) said in a statement that the restaurants would not come back until the “deep-discounting phenomenon” is off the table.
The company plans to use the funds raised to expand in India and support the launch of new products focused on financial health, as well as help grow its team across all its offices
The court agreed to hear the pleas of Facebook and WhatsApp seeking the transfer of four PILs on such a linkage that are pending before the Madras, Bombay and Madhya Pradesh high courts.
Amazon's foray into the cash-guzzling online food-ordering sector comes at a time when restaurants are protesting against large food-delivery aggregators for pushing deep discounts
The body said that survival would be a challenge unless lending rules are eased. The association counts 16 peer-to-peer lending platforms, which are licensed by the RBI, as members.
MPower has now raised an estimated $200 million in loan financing capital, having raised $100 million from Community Investment Management in December last year.
The investment is part of a larger Series-C round and while company executives declined to specify the exact size of the ongoing capital raising round, it is expected to cross $100 million.
Over the last three years, Instagram has introduced several add-on features for businesses to facilitate commerce on the platform, estimated to be a global market worth $10 billion by 2021
Over the past week, hundreds of restaurants have delisted from the dine-in platforms of Zomato, EazyDiner, Nearbuy, Magicpin and Dineout, over the issue of what they say is “unsustainable deep discounting”.
BYG runs an app that provides customers access to more than 2,000 gyms via pay-per-use sessions. It also provides Software as a Service (SaaS) solutions to gyms.
This is a follow-up of its Series A round of Rs 14 crore, which was led by Info Edge, with participation from Akatsuki, Incubate Fund and Better Capital in 2018.
India's rapidly expanding digital payments market is poised to get more crowded as the country races to catch up with China in squeezing out the use of cash
Twitter's investment in ShareChat, which has been fighting out China’s Bytedance in its home market, is among the first such bets it has taken on an international company.
The focus on reskilling at Indian IT has spurred meme creators who are highlighting, through witty content & ‘confessions pages’, the woes faced by techies.
Indian Pharmaceutical Alliance has urged policy think tank Niti Aayog and the Department of Pharmaceuticals to set up a large fund to boost technological innovation in pharma and healthcare startups.
Oyo said it will focus on focus on building the largest vacation rental management service business in Europe, managed under Oyo Home, Belvilla, Danland, and Dancenter brands.
Future Retail said the company’s key shareholders including the promoter family and another group firm Future Coupons have entered into a shareholders’ agreement
Infosys focuses on digital transformation at government agencies in the Asia Pacific region, while banking and financial services is another important business segment.
Amazon has been acquiring tiny stakes in other Indian brick-and-mortar chains such as Shoppers Stop Ltd. and a grocery chain from the Aditya Birla Group in the past couple of years
Faircent.com will utilise the funds towards strengthening the platform’s technology, expanding distribution and adding unique loan offerings for its lenders.
Multiple fintech startups, which had started with a purely online model, have found new lines of businesses through corporate tie-ups, kiosks, physical branches and cluster models
TCS hopes to make Ignio the fastest software product to reach $100 million in revenue. The FY19 figures and growth rate imply that the IT firm should reach its goal by the end of this year.
The ecommerce arm, which is valued at $3.3 billion, has seen significant restructuring, including no common team member across its two businesses, said Paytm Mall CFO Rudra Dalmia
Accel is expected to hit the road to raise $500 million later this year, while Sequoia Capital has extended its $695 million sixth India and Southeast Asia fund by $200 million
Meesho plans to invest the freshly raised funds to further build its technology platform, launch new categories, and go deeper into areas outside India's major metro regions
Jio Fiber will offer lifetime free voice calls from landline phones and high speed broadband, besides free high definition TV and dish with minimum subscription of Rs 700 per month.
The vision for the next five years is to have investment-led growth. We are targeting Rs 100 lakh crore worth of investment in the coming five years, says PM Modi
Uber had previously said that increased discounts to customers along with incentives to drivers and restaurants in India caused a decline in margins for its food-ordering business globally.
Others joining this growing tribe include former Paytm vice president Amit Lakhotia, who was responsible for building the product piece at the digital payments firm in its early days.
Companies, especially multinationals, are increasingly veering around to the view that a woman at the helm helps bring in a different perspective and approach to business.
A potential deal could be the latest in a string of risk capital transactions that have been made, or are in the process of being completed in India’s still nascent, but fast-growing mobility sector.
A few startups had complained of receiving notices from tax authorities around the capital they had raised at valuations higher than the fair market value.
At the Vision Fund, unrealized losses totaling $1.84 billion were recorded during the quarter ending June 30, attributable to decreases in the fair value of Uber and other investments.
In his submission, IIT-M professor V Kamakoti pointed out that WhatsApp has access to user details through the information it collects when the app is downloaded on a smartphone
Infinity Dining, which launched in July, allows Zomato Gold customers to walk in to a restaurant and order unlimited meals for a fixed price, via the app
The increase in the number of credit cards is not only an indication of growing digital payments but also the expansion of retail borrowers in the ecosystem.
In India, which is the largest two-wheeler market in the world, SoftBank’s move beyond ride-hailing could be a bet on the emerging two-wheeler rentals business
Only two Indian companies - Tata Consultancy Services and Infosys - figure in a list of the top ten applicants for employer green cards in the six months to March 2019
The regulator will not only protect the rights of consumers purchasing goods and services both online and offline, but also have the power to initiate class action against companies including enforcing recalls, refunds and returns.
ChrysCapital has invested from its seventh fund, the 2016 vintage, $610 million ChrysCapital VII. Ramani also said that the company plans on capping the round at $30 million.
Nasscom has said the timeline for full KYC should be extended till March 2020 so that the industry has sufficient time to install digital KYC processes and abide by the regulatory mandate.
The proposed rules are aimed at curbing the sale of counterfeit goods, streamlining returns and refunds, and delineating the liabilities of sellers and online marketplaces.
The first critical data list will be notified by the yet-to-be-formed Data Protection Authority after thorough consultations once the Personal Data Protection Bill is passed in Parliament
The online travel businesses are drawn by the prospect of acquiring the high-end, outbound, loyal customers of one of the country’s oldest brick and mortar travel companies
Many startups are hoping that the government may soften the language to allow M&As. Legal experts, however, said this should be avoided due to fear of money laundering.
The policy, approved by Ravi Shankar Prasad, minister for electronics and IT, offers monetary incentives to companies that create such jobs with an aim to generate employment for over 50,000 people in the next three years
Tech companies are starting to see potential in cancer diagnosis and prediction, even as a clutch of homegrown startups has already come up with innovative solutions in this space.
The first tranche, pegged at $10 million, is likely to close in the next three weeks, two of the people told ET, and Walmart will get a board seat in NinjaCart as part of the transaction.
A company spokesperson confirmed the resignation and said that Sindhu Gangadharan, a senior vice president and another SAP long-timer, will succeed Khandelwal, from September.
Around $3.6 billion was pumped into fintech startups across Singapore, China, India, and Australia through more than 100 deals in the first half, compared with nearly $25 billion in 2018.