Alibaba Puts Investment Plans In India On Hold As Indian Govt Tightens Screws On Chinese Companies: Report

Alibaba Puts Investment Plans In India On Hold As Indian Govt Tightens Screws On Chinese Companies: Report

The heightened border tensions between India and China are now very clearly spilling over into India’s startup ecosystem. China’s Alibaba Group has put on hold plans to invest in Indian companies, two sources aware of the plans told Reuters. Alibaba will not put in fresh funds to expand its investments in the country for at least six months, the sources reportedly said. However, there are no plans to reduce its stakes or exit investments, they added. “Alibaba and a few…

Have “Significant Influence” Over Paytm’s Parent Company: China’s Ant Group In IPO Filing

Have “Significant Influence” Over Paytm’s Parent Company: China’s Ant Group In IPO Filing

At at time when China’s businesses in India are under the scanner following the Ladakh standoff, China’s Ant Financial has indicated that Chinese companies with financial stakes in Indian startups too can wield considerable influence over them. China’s Ant Group, which was a subsidiary of Alibaba’s, has said said in its IPO prospectus that is has ” “significant influence” over One97 Communications Ltd, which is the parent company of Paytm. “Our major associates include One97 Communications Ltd that operates…

Apple To Open An Online Store In India Next Month

Apple To Open An Online Store In India Next Month

Over the last few years, Apple had begun assembling and manufacturing its phones in India. It will now sell them directly to Indian customers as well. Apple is poised to open an online store for the first time in India, Bloomberg has reported. The move comes after the relaxation of India’s once-strict prohibitions against foreign direct retail. The online store is slated to be ready for operations just ahead of the festive Dussehra-Diwali spending season. Thus far, Apple’s…

Tata Group To Take On Jio And Amazon With Launch Of Super App

Tata Group To Take On Jio And Amazon With Launch Of Super App

Amazon and Flipkart had thus far been reconciling themselves with a massive Indian player having joined the e-commerce fray — JioMart, it is becoming increasingly apparent, will take both companies head on. But Amazon and Flipkart might have another huge Indian player to contend with. The Tata group is poised to launch a “super app” by December or early next year, FT reported. The super app will provide food and grocery ordering, fashion and lifestyle, consumer durables,…

“Uninstall PhonePe” Trends On Twitter As People Demand Aamir Khan And Alia Bhatt Be Removed As Brand Ambassadors

“Uninstall PhonePe” Trends On Twitter As People Demand Aamir Khan And Alia Bhatt Be Removed As Brand Ambassadors

Yet another startup is finding out that signing on high-profile celebrities as brand ambassadors is a sword that can cut both ways. “Uninstall PhonePe” is currently trending on Twitter with hundreds of users demanding that the company dissociate itself from Aamir Khan and Alia Bhat, its brand ambassadors. The trend Uninstall PhonePay (curiously with the spelling of Pe misspelled) currently has nearly 80,000 tweets on Twitter, and is trending at number 3 nationwide. PhonePe had…

Food Delivery Volumes Back To 75-80% Of Pre Covid Levels, Restaurants Only At 8-10%: Zomato

Food Delivery Volumes Back To 75-80% Of Pre Covid Levels, Restaurants Only At 8-10%: Zomato

There is now data available on how the coronavirus is now impacting India’s food business. Food delivery volumes are now back up to 75-80 percent of pre-Covid levels, while restaurants are operating at 8-10 percent of pre-Covid levels, Zomato has said in a report. “Over the last few days, we reached out to thousands of restaurants and customers across various cities in India to understand the current state and future outlook of the industry,” Zomato…

Apple Becomes First US Company To Touch USD 2 Trillion Market Cap

Apple Becomes First US Company To Touch USD 2 Trillion Market Cap

It was only a few years ago that the world had got its first trillion-dollar company — it now has a 2 trillion dollar company. Apple has become the first US company to touch a 2 trillion dollar market cap. It reached the milestone last night when its stock rose 1.4% to $468.7 in midday trading on a rally that has been driven by strong earnings results and optimism over its new iPhone. Saudi-owned Aramco…

Reliance Has Acquired A Majority Stake In Netmeds For Rs. 620 Crore

Reliance Has Acquired A Majority Stake In Netmeds For Rs. 620 Crore

The full extent of Reliance’s e-commerce ambitions is slowly becoming apparent. Reliance has gone ahead and acquired Netmeds for Rs. 620 crore in cash. The investment gives Reliance a 60% holding in the equity share capital of Netmeds’ parent company Vitalic Health, and 100% direct equity ownership of its three subsidiaries. Reliance also has the option to buy to the remaining portion of the company over the next four years. “This investment is aligned with our commitment…

Dream 11 Bags IPL’s Sponsorship Rights For Rs. 222 Crore

Dream 11 Bags IPL’s Sponsorship Rights For Rs. 222 Crore

India’s premier sports tournament now has an Indian startup as a sponsor. Fantasy sports company Dream 11 has bagged the title sponsorship of IPL 2020. The company signed a Rs. 222 crore deal with the BCCI for the rights. Dream 11 will hold the rights only for the duration of this year’s IPL for a period of 4 months and 13 days.  The IPL had invited bids for fresh sponsors after there had been outrage…

Mitron Raises Rs. 37.5 Crore, Trell Raises 85 Crore To Take On TikTok

Mitron Raises Rs. 37.5 Crore, Trell Raises 85 Crore To Take On TikTok

Even as speculation swirls about TikTok’s fate in India, competitors have begun arming their war chests in a bid to take its place. Two apps that are gunning for the void that was created after TikTok was banned in India have raised significant funds this week. Mitron, which had been gaining traction even before TikTok had been banned, has raised $5 million (Rs. 37.5) in a round led by Nexus Venture Partners. 3one4 Capital, Arun Tadanki’s…

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