Ola Has Severely Curtailed Foodpanda’s Operations And Terminated Contracts Of 1500 Delivery Executives

Ola Has Severely Curtailed Foodpanda’s Operations And Terminated Contracts Of 1500 Delivery Executives

India’s food delivery space might’ve just lost one of its biggest players. Ola-owned Foodpanda has severely curtailed its operations. As of writing, all restaurants, apart from Dominos and Pizza Hut, are listed as “unavailable” on its app. Mint is reporting that the company has terminated its food delivery business, and laid off 40 mid to entry level employees. It has also reportedly terminated the contracts of 1500 delivery executives. “They (Ola) have realized they can’t…

Reliance Is Now India’s Most Profitable Company

Reliance Is Now India’s Most Profitable Company

Reliance was already India’s most valuable company — now it’s also its most profitable. Mukesh Ambani’s Reliance Industries has become India’s most profitable company, registering a net profit of Rs. 39,588 crore in FY19. Reliance has made another record for itself — until last year, it was the second largest Indian company by revenue, but in FY19 it toppled Indian Oil Corporation Limited to become India’s biggest company by revenue. Reliance already was India’s most valuable company,…

Amazon Launches Flight Bookings In India As It Looks To Become A Super App

Amazon Launches Flight Bookings In India As It Looks To Become A Super App

India’s already-crowded air ticket booking space has a new — and massive — addition. Amazon has launched its flight booking service in India as it looks to become a super app. Amazon’s app and website now has a flights icon on the Amazon Pay page, and customers can book flights much as they’d book one on a dedicated travel portal . Amazon has partnered with Cleartrip to launch the service. “We are excited to partner with Cleartrip and…

Paytm, Ola Launch Credit Cards As Indian Tech Unicorns Make Big Fintech Push

Paytm, Ola Launch Credit Cards As Indian Tech Unicorns Make Big Fintech Push

Indian unicorns, no matter which sector they operate in, are making a beeline for fintech. Paytm and Ola have both launched their own credit cards this week, marking their formal entry into the lending and credit space. Paytm’s card, called Paytm First, has been launched in partnership with Citi, while Ola has launched a card in partnership with Visa and SBI. Last October, Amazon had launched a co-branded card in association with ICICI. Flipkart too…

Paytm Mall Investigating Fraud Around Its Cashback Schemes, Several Employees Fired

Paytm Mall Investigating Fraud Around Its Cashback Schemes, Several Employees Fired

Over the years, Paytm has been fighting to prevent cashback fraud perpetrated by its customers. Now it seems to have had to fight cashback fraud perpetrated by its own employees. Paytm Mall is investigating a cashback fraud involving some of its employees and merchants, Mint reports. Some Paytm Mall employees allegedly worked with third-party vendors and created fake orders to siphon off cashback offers. Paytm has engaged consulting major EY to audit the fraud. The…

Hotstar Sets New World Record For Most Simultaneous Users For A Live Event During IPL Final

Hotstar Sets New World Record For Most Simultaneous Users For A Live Event During IPL Final

Put together 1.3 billion people, dirt cheap internet plans, and a nationwide love for cricket, and what do you get? World records, of course. Hotstar has set a world record for the most number of people that were watching a live event on a streaming service. Yesterday’s IPL final between the Mumbai Indians and Chennai Super Kings at one point drew 18.6 million simultaneous users on its service. Hotstar thus comprehensively broke its own record…

Reliance Has Acquired UK-Based Toymaker Hamleys For Rs. 620 Crore

Reliance Has Acquired UK-Based Toymaker Hamleys For Rs. 620 Crore

After building interests in everything from crude oil refining, retail, media properties, a cricket team, and India’s youngest telecom company, something new has caught Mukesh Ambani’s fancy — toys. Reliance has acquired iconic British toy retailer Hamleys, the company said on Thursday. Reliance, through its subsidiary Reliance Brands, will now own a 100% stake in the British company in exchange for 68 million pounds (Rs. 620 crore). In India, Reliance is already the master franchise for Hamleys…

Arnab Goswami’s Republic TV Is Now Valued At Rs. 1200 Crore

Arnab Goswami’s Republic TV Is Now Valued At Rs. 1200 Crore

Arnab Goswami had first made his name through TV news, but he seems to be doing just as well in the entrepreneurial arena as he did in journalism. Goswami has bought back shares of Republic TV from Asianet, which will allow him to regain control of the channel he’d founded in 2017. The repurchase of shares will allow Goswami to put Republic TV on track to becoming an Editor-run news channel. More significantly, the two year…

Modern Workplaces For Ignited Minds

Modern Workplaces For Ignited Minds

[The author of this article is Mr. Sudeep Kolte, VP Sales & Marketing, Saint Gobain India Pvt. Ltd. – Gyproc Business] Driven by changing workforce behavioural patterns, working environment has evolved tremendously. This is pretty evident with changing work policies, nature of work, workplace structure and interestingly, workspace designs. This presents a huge challenge for architects and designers to break the monotony without dismantling the company’s ethos. Often, business leaders fail to understand the reciprocal relationship…

IIT Kharagpur Alum Ajit Jain Could Succeed Warren Buffett At Berkshire Hathaway

IIT Kharagpur Alum Ajit Jain Could Succeed Warren Buffett At Berkshire Hathaway

There could soon be yet another Indian CEO heading a US-based multinational giant. Ajit Jain, who’s currently the Vice Chairman of Insurance Operations at Berkshire Hathaway, is a prime contender to take over from Warren Buffett as CEO after Buffett’s retirement. The announcement was made by Buffett himself at Berkshire Hathaway’s shareholders meeting, when he said that Ajit Jain and Gregory Able, who were both promoted last year to the board of directors, would in the…

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