India’s NPCI Is Considering Launching A Blockchain-Based Payments Solution

India’s NPCI Is Considering Launching A Blockchain-Based Payments Solution

NPCI already runs the new-age, hugely popular UPI system of payments, but now it’s looking to get even more cutting-edge. The National Payments Council  of India (NPCI) is considering using a highly scalable solution to further strengthen digital payments, reports PTI. NPCI has also floated an Express of Interest (EOI) in order to enable bidders to propose their capability for developing distributed ledger technology/blockchain in the payment domain. NPCI has additionally invited bids for selection of Liaisoning…

Amazon India To Add Flight Bookings And Food Ordering On Its Platform: Report

Amazon India To Add Flight Bookings And Food Ordering On Its Platform: Report

In India’s internet space, everyone wants to do everything. Amazon India could soon start selling airline tickets and take food orders on its platform, ET reports. The company is beta testing flight bookings in collaboration with ClearTrip, and over time, also plans to let users order food, book cabs and hotel stays on its platform. Amazon won’t be the first e-commerce company in India to branch out into other sectors. Paytm already is actively into flight…

5 Chain Designs Every Woman Needs In In Her Work Wardrobe

5 Chain Designs Every Woman Needs In In Her Work Wardrobe

  Jewellery forms an essential part of a working woman’s closet. Earrings, bracelets, watches, chains, and necklaces can be counted as the starters. In today’s times, none of us really wear necklaces for regular use. You suit yourself with sleek chains and ear studs for office wear. They are easy to carry and can be matched with your wardrobe. You can customise the design in case you are allergic to any kind of metal and…

Dream11 Becomes India’s Latest Unicorn Startup, Now Valued At $1-1.5 Billion

Dream11 Becomes India’s Latest Unicorn Startup, Now Valued At $1-1.5 Billion

As India’s unicorn list gets bigger, it also keeps getting more diverse. Dream11 has become India’s latest unicorn startup, and also the first from the fantasy gaming space. Dream11 is now valued at $1-$1.5 billion after an investment from Steadview Capital. Three of Dream11’s existing investors— Kalaari Capital, private equity firm Multiples Alternate Asset Management and San Francisco-based hedge fund Think Investments sold a portion of their stakes in the transaction. “We are excited to welcome…

Zomato Currently Makes Losses Of Rs. 25 On Each Order On Delivery Costs Alone

Zomato Currently Makes Losses Of Rs. 25 On Each Order On Delivery Costs Alone

Food tech companies have made getting meals delivered easy and hassle-free, but they’re paying through the nose to get it done. Zomato has said that it loses Rs. 25 on average on each delivery it makes. That means that Zomato pays its fleet an additional Rs. 25 over and above any delivery fee it charges its customers. Zomato goes on to say that its last-mile cost for delivery is currently Rs. 65, which would imply that…

Zomato’s Revenues Rise 3x, But Losses Rise A Whopping 24x In FY2019

Zomato’s Revenues Rise 3x, But Losses Rise A Whopping 24x In FY2019

Zomato’s making more money than before, but it’s also spending a lot more money to do so. Zomato has said that it earned revenues of $206 million (Rs. 1552 crore) for FY2019. Compared to its revenues of $68 million last year, this is a healthy threefold rise. But the corresponding costs column wouldn’t bring as much cheer — in order to earn three times more revenues, Zomato’s costs rose sixfold, increasing from $80 million last year to…

Reliance Jio Has Acquired A Majority Stake In AI Startup Haptik In A Rs. 700 Crore Transaction

Reliance Jio Has Acquired A Majority Stake In AI Startup Haptik In A Rs. 700 Crore Transaction

Reliance Jio has, in the past, called itself India’s biggest startup. True to its billing, it’s now acquiring smaller startups. Jio has acquired a majority stake in conversational AI startup Haptik. The total transaction size, including the primary capital investment, is Rs. 700 crore (~100 million USD), with Rs. 230 crore as the consideration for the initial business transfer from Haptik to Jio. On a fully diluted basis, Reliance will now own 87% of the…

Paytm Has Announced That It Is Getting Into The Stock Broking Business

Paytm Has Announced That It Is Getting Into The Stock Broking Business

After doing everything from payments, mobile recharges, e-commerce, flight, bus and train tickets, gold sales, movie bookings, and even sales of gold, Paytm is now looking to become a stock broker. “We are thrilled to announce that Paytm Money has received approval from securities & capital market regulator SEBI (Securities & Exchange Board of India) to start our next offering — Stock Broking,” Paytm said in a blogpost. “In addition to this, we are also excited to…

Airbnb Has Just Invested $150-200 Million In Oyo Rooms

Airbnb Has Just Invested $150-200 Million In Oyo Rooms

Oyo has previously said that it wants to be the world’s largest hotel chain; it’s now received an investment from the what’s currently the world’s largest hotel chain. Airbnb has invested between $150 and $200 million (Rs. 1050 – Rs. 1400 crore) into Oyo Rooms as a part of its Series E funding round. The investment follows a record $1 billion fund-raise from Ola last year, which had included investors like Softbank, Sequoia Capital and…

BigBasket Becomes India’s Latest Unicorn Startup, Now Valued At $1.2 Billion

BigBasket Becomes India’s Latest Unicorn Startup, Now Valued At $1.2 Billion

From starting off in 2011 selling fresh produce, BigBasket has become India’s freshest unicorn. BigBasket is now valued at more than $1.2 billion (Rs. 8,400 crore) after raising $150 million in its latest round of funding. Existing investor Alibaba put in $50 million, U.K. government-owned CDC Group put in $40 million, and South Korea’s Mirae Asset Global Investments invested $59.9 million in the round. The latest fund raise means that Big Basket has become India’s second unicorn of 2019 after…

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