China’s Baidu Is Making Strategic Inroads Into India Through Investments
market.
According to a report by ET, Baidu is eyeing making strategic investments in Indian big players like Zomato, Big Basket, and BookMyShow.
Category: News
Amazon’s Jeff Bezos As Lord Vishnu On Magazine Cover Enrages Hindus
Jeff Bezos depicted as Hindu deity Lord Vishnu on the latest cover of New York based business magazine, Forune has drawn flak from the Hindu community worldwide.
Delhi Government Embraces Shuttle Services; Relief For Operators
Shuttle services in Delhi, which had been temporarily halted after the Transport Department had raised concerns about their legality, can breathe a sigh of relief. The Delhi government appears to be softening its tone on these services, with the Vice Chairman of the Delhi Dialogue Commission calling them “completely legal.”
India Gets Its Latest Unicorn; ShopClues Worth $1.1 Billion
India’s fledging unicorn club – startups that attain a mythical $1 billion valuation – has a new member. E-retail site Shopclues is now worth $1.1 billion following an undisclosed funding round led by Singapore’s sovereign wealth fund GIC. Interestingly, GIC also backs Shopclues’ rival Flipkart.
Ola Launches Ola Corporate: An Enterprise Plan For Companies
Ola has launched Ola corporate, an enterprise solution to corporate cab bookings.
With Ola corporate, employees would be able to book a cab for official visits, with the click of a button and have the option to have it expensed directly to the company account, instead of needing to have it reimbursed later.
Facial Recognition Startup Emotient Taken Over By Apple Inc.
San Diego-based facial recognition startup Emotient has been taken over by Apple Inc. The financial terms of the deal have not been revealed. This is the third startup acquired by Apple in the area of artificial intelligence (AI), the previous two being Perceptio and VocalIQ.
Zomato Shuts Down Its Ordering Service In 4 Cities
After grocery delivery service Grofers had withdrawn its operations from 9 Tier 2 cities last month, Zomato has shut down its food ordering service in Lucknow, Kochi, Indore, and Coimbatore.
Binny Bansal To Be New Flipkart CEO
India’s largest e-commerce giant, Flipkart, is in for some organizational change. Co-founder Sachin Bansal, who has been the CEO since the inception of the company in 2007, will step aside. His cofounder, Binny Bansal will take his place. Sachin Bansal will in turn become the Executive Chairman.
1 Lakh Entrepreneurs Vie For 1500 “Start Up India” Passes
The Indian entrepreneur community is early awaiting the announcements that are expected to be unveiled at the Start India event to be organized in New Delhi on the 16th of this month. Such is the interest around that event that an astonishing 1,00,00 people have registered for the passes. Sadly, there are as few as 1,500 passes available.