Flipkart claims not Flouting FDI Rules; Open for Audit

Flipkart’s CEO Kalyan Krishnamurthy has strongly asserted that it is fully complying with India’s newly announced FDI rules and is open for an audit to steer away any doubts on this front. The Walmart owned company came under cloud of suspicion for flouting FDI rules following last month’s meeting between the Commerce & Industry minister…

ByGirish ShettiJuly 3, 20190Comments

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WhatsApp is Almost Ready to Launch UPI Payment Services

The much-awaited disruption in India’s digital payment sector is probably only weeks away as WhatsApp is all set to launch its full-fledged UPI payments services in India. Following the beta launch last year, the messaging giant had to postpone the launch of its UPI payment services. This after RBI issued new directives in April that…

ByGirish ShettiJune 27, 20190Comments

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Binny Bansal Pares Down Flipkart Stake, Sells $76 million Worth shares

Binny Bansal, co-founder of India’s e-commerce behemoth Flipkart, has sold Flipkart shares worth $76 million (Rs 531 crore) to Walmart’s Luxembourg based subsidiary arm, according to business intelligence platform Paper.vc. This has brought Bansal’s stake in the Walmart owned company from 3.85% to 3.52%. Binny Bansal sells $76 million worth Flipkart shares to Walmart arm Bansal had…

ByGirish ShettiJune 24, 20190Comments

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Why Facebook may not able to Launch Libra in India

Facebook on Wednesday unveiled the details of its much anticipated cryptocurrency’ Libra’ that is slated for an official launch next year. The social media’s giant’s entry into the fintech sector expectedly sent the entire world into tizzy. Due to regulatory issues Facebook may have to abort Libra's launch in India Libra will be launched through Facebook’s new…

ByGirish ShettiJune 20, 20190Comments

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India among Uber’s important Markets for Launching Flying Taxis Services

It seems that India may not have to wait unbearably long to greet Uber’s futuristic air taxi services. If media reports are to be believed then India has been enlisted among the important markets for Uber’s air taxi service that is slated for launch in 2023 in the U.S. Uber in talks with Govt to launch…

ByGirish ShettiJune 14, 20190Comments

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Zoomcar and Drivezy are Holding Merger Talks: Report

Car and bike rental startup Drivezy and self-drive car rental company Zoomcar are holding merger talks, according to a report published in Livemint. These unconfirmed merger talks marks what could be possibly the first consolidation phase in India’s urban mobility space. Zoomcar holding talks to merge with rival Drivezy Livemint cited unidentified source to claim that the…

ByGirish ShettiJune 11, 20190Comments

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Flipkart shifts to ‘Made in India’ label for In-house brands

In a major boost to Indian government’s Make in India initiative, Flipkart has shifted major part of the manufacturing base for its in-house brands from foreign locations to home country India. Almost one year ago the Walmart owned company used to assemble and source substantial part of its private label from neighboring countries like China…

ByGirish ShettiJune 10, 20190Comments

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Ola and Uber’s India Growth Story hits a Speed-Breaker

Is Ola and Uber’s India growth story flattering? If both ride-hailing major’s growth numbers for past six months are anything to go by then the unbiased and overwhelming answer would be ‘yes.’ Two companies’ daily rides have posted disappointing growth of only 4% during the last six months, increasing from 3.5 million to 3.65 million. Ola…

ByGirish ShettiJune 4, 20190Comments

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Mumbai Court Bars Flipkart from Selling GOQii Products

Smart wearables startup GOQii on Monday got a major reprieve from Mumbai civil court in its ongoing tussle with Flipkart over the issue of predatory pricing. The court passed an interim order to prevent Flipkart from selling GOQii’s products on its online shopping platform. GOQii founder Vishal Gondal took to twitter to make public announcement…

ByGirish ShettiMay 28, 20190Comments

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Facebook axed more than 3 Billion Fake Accounts During Last Six Months

Facebook’s quest against the menace of fake news is yielding pretty handsome fruits. The online social media giant on Thursday said that it deactivated more than 3 billion fake accounts between October and March. The platform also managed to remove seven million ‘hate speeches posts,’ which is a record-breaking number. Image Credits: Flickr Jeremiah Owyang Facebook succeeded…

ByGirish ShettiMay 24, 20190Comments

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