Uber has some great technology, world class engineers, and a truly disruptive business idea. But these are not the reasons why it’s the world’s most valued startup. What makes Uber so successful is its sheer brazen audacity.
On Friday, the finance ministry of India, announced the new interest rates for many government savings schemes in India, including the most popular investment option, the PPF or Public Provident Fund. With the announcement, the interest rate for the PPF has gone down from 8.7% to 8.1%.
India’s e-commerce market, which is currently dominated by homegrown companies like Flipkart and Snapdeal, and an American giant in Amazon, might soon see its biggest shake up yet. Chinese e-commerce behemoth Alibaba is planning to enter the Indian market in what could bring increased competition in an already competitive sector.
Times Internet owned Magicbricks.com has acquired property analysis platform Properji.com for an undisclosed amount. Properji provides detailed research services to buyers and has prepared reports for about 100 projects
Mobikwik, one of India’s biggest payment networks and wallet providers, is now venturing into the hyperlocal space with the launch of ‘Explore Nearby’. Available on the MobiKwik app, the feature enables discovery of neighborhood stores, restaurants and cafes that accept wallet payments.
Looking to capture a bigger pie of Indian ecommerce that extends beyond retail, Snapdeal is reportedly in talks with commutech giant Uber. If the partnership goes through, Snapdeal customers will be able to book an Uber ride through the Snapdeal app.
Paytm can’t seem to get into enough verticals. After the e-commerce company started selling everything from bus tickets to movie tickets, it seems to be on the verge of expanding into a territory that’s completely foreign to Indian e-commerce providers – flight tickets.
Practo’s become one of the first Indian startups to go truly global. While Indian companies have been taking baby steps in their international expansion plans by testing out the waters with countries in South East Asia, Practo’s raised the bar a whole notch – it has launched in faraway Brazil.
In a bid (pun unintended) to recover a small part of their pending loans from Vijay Mallya who’s defaulted loans to the tune of 9000 crores, SBI had decided to auction his Mumbai home. The base price was 150 crores and the auction lasted for over hour 4 hours. However, unlike other auctions, there was not a single bid in this one.