Friday, April 26

Author: Gauri Singh

Amazon Invests Rs 230 Crore in its Indian Payment Platform
17Jul By Gauri SinghNo Comments
BUSINESS

Amazon Invests Rs 230 Crore in its Indian Payment Platform

The e-commerce giant Amazon has freshly invested Rs 230 crore in ‘Amazon Pay' which is the Indian payment platform of Amazon. According to the Registrar of Companies (RoC), Amazon Pay India has allotted 23 crore equity shares worth Rs 230 crore to the existing shareholders on the right basis. The shareholders include Amazon Corporate Holdings and Amazon.com.incs. The event has come months after the company invested Rs 195 crore in the same business in March. Since 2016, the total amount invested in the payments business till date is around Rs 1,000 crore. With this, the company aims to make its operations stronger in the country and compete with the other players including PhonePe and Paytm. Apart from this, Amazon is also aiming to increase the user base and traction on the platf...
Read More
LinkedIn Hits the 50 Million User Milestone in India, Non-metros Dominate
17Jul By Gauri SinghNo Comments
News

LinkedIn Hits the 50 Million User Milestone in India, Non-metros Dominate

The professional social networking platform LinkedIn has successfully reached the milestone of 50 million users in India. Two years ago, the user base of the company was around 37 million including students and people from smaller towns. LinkedIn is a business and employment-oriented social platform that has been specially designed for career and business professionals to connect. The company is the best platform for building connections for freelance work, a customer base, potential partners, and to keep job prospects open. The company stated that the people who belong to non-metro cities and other backward areas have been increasing on the platform for the purpose of staying professionally connected and also for the job opportunities. LinkedIn had introduced its app’s lighter ve...
Read More
Flipkart’s PhonePe Acquires Leading Hyper Local POS Platform
17Jul By Gauri SinghNo Comments
ACQUISITION

Flipkart’s PhonePe Acquires Leading Hyper Local POS Platform

One of the leading digital payment platforms PhonePe that is owned by Flipkart has announced that the company has reportedly acquired Zopper Retail which is a hyper-local POS (point of sales) marketplace. However, the amount of the deal has not been disclosed. Neeraj Jain who is the founder and CEO of Zopper, will be joining the PhonePe team as head of product in offline merchant solutions. Sameer Nigam, CEO of PhonePe said, “We welcome the Zopper Retail team to PhonePe and are excited leveraging their domain expertise to rapidly expand our offline merchant network across India. Zopper has a very strong technology and innovation DNA, and Neeraj and team are also a great culture fit for PhonePe. Zopper Retail is specifically designed to meet the needs of millions of small retailers in I...
Read More
Unacademy Raises $21 Million in Series C Funding Round
17Jul By Gauri SinghNo Comments
FUNDING

Unacademy Raises $21 Million in Series C Funding Round

Online learning platform Unacademy has secured $21 million in a series C funding round. This funding round saw the participation of Sequoia India, SAIF Partners, Nexus Venture Partners and other existing investors as well. Followed by this funding round, the valuation of the company crossed $100 million. Apart from the above-mentioned investors, Blume Ventures also participated in this round. Gaurav Munjal, co-founder and CEO of Unacademy, said, “Right from the outset, we have focused on growing the platform by empowering the best educators. We have grown tremendously since our inception, and just last month, more than 3,000 educators were active on the platform and lessons created by them were watched more than 40 million times by learners.” The company plans to utilize the funds so ...
Read More
5 Best Mutual Funds To Invest in For Long Term Benefits
16Jul By Gauri SinghNo Comments
Market

5 Best Mutual Funds To Invest in For Long Term Benefits

A mutual fund is an investment fund where the many investors pool their money for the purpose of investing in securities including stocks, bonds, money market instruments and other assets. Since the money is pooled up, it is called a mutual fund. These investors may be retail or institutional in nature. There are various kinds of mutual funds that one can invest in for long-term benefits. Today, we will talk about the five best mutual funds that may be beneficial for the investors.     1) Money market funds The money market funds are comprised of safe short-term debt instruments that generally include Treasury bills. This is a safe place where the investor can put in their money. The people won't get considerable returns, but they won't have to worry about losing their...
Read More
Co-Working Dominates Office Space Leasing, Read The Full Report Inside
16Jul By Gauri SinghNo Comments
ANALYSIS

Co-Working Dominates Office Space Leasing, Read The Full Report Inside

The year 2018 witnessed an increase in the office space leasing by 10 percent to over 20 million sq ft. This increase has been recorded in the first six months of this year. This clearly shows how the demand for co-working space is rapidly growing recently. What is office space leasing/ co-working leasing? Nowadays, the trend of renting a space for business operations is growing day by day. With a number of startups coming up in the business world, the demand and need for working space is also increasing. And for this, the startups need to lease a portion of an office to carry on their operations. This process is called office space leasing. According to the reports, the supply and leasing of co-working space saw an increase in these major nine cities including Delhi-NCR, Mumbai, Che...
Read More
After China and Malaysia, OYO Starts Off with Operations in London
16Jul By Gauri SinghNo Comments
BUSINESS

After China and Malaysia, OYO Starts Off with Operations in London

The online hospitality service provider OYO seems to be on an expansion spree. Soon after spreading its footsteps in countries like China, the company has landed in London and already begin with the operations. The Softbank-backed firm has been offering bookings in Sussex Gardens, Paddington, London. According to the reports, an OYO Townhouse property in London was seen recently. After foodtech unicorn Zomato, it is said to be the second Indian startup to have expanded to London. However, there is no option to book a hotel at the previously mentioned property through the app or website, it is being guessed that the pricing would be in the range of Rs 6,500 to Rs 8,000.     Currently, OYO claims to operate 8,500 hotels and 70,000 rooms over 230 cities in India. ...
Read More
Tips to Grab the Best Deals on Amazon Prime Day Sale
16Jul By Gauri SinghNo Comments
News

Tips to Grab the Best Deals on Amazon Prime Day Sale

The e-commerce giant, Amazon has started off with its flagship event today at 12 noon, that is known as the Prime Day Sale, which happens across 17 countries that offer Amazon Prime services including India. In India, this is the second time that the company is hosting the Amazon Prime Day sale. In the previous year, the sale witnessed only 34 exclusive product launches. Whereas, this year the company’s sale has come up with over 200 exclusive product launches. The sale that started today will continue for the next 36-hours till the midnight of 17th July 2018. It’s a great event and thus, the customers need to keep a track of the deals to get the best offers and bargains. And thus, here we have some tips for you all to grab the best out of the sale.   ->  The customers ...
Read More
Aurobindo Pharma to Take Over Apotex’s Business in Five European Countries
16Jul By Gauri SinghNo Comments
ACQUISITION

Aurobindo Pharma to Take Over Apotex’s Business in Five European Countries

A pharmaceutical manufacturing company, Aurobindo Pharma Limited has reportedly signed a well-defined deal for the purpose of acquiring the business of Apotex International Inc. in five European countries for $86.5 million (€74 million). The countries in which the Hyderabad-based company is looking forward to acquiring the commercial operations and certain supporting infrastructure are Poland, Czech Republic, the Netherlands, Spain, and Belgium. “The acquisition will extend and diversify Aurobindo’s European product portfolio by adding over 200 generics and more than 80 over-the-counter products that had total sales of 133 million euros in the year ending March 2018,” Aurobindo Pharma stated. The basic aim of the company behind this acquisition deal is to make its European business st...
Read More
Ola and Uber Cancel Orders from Tata Motors and the Reason is Cyris Mistry
16Jul By Gauri SinghNo Comments
News

Ola and Uber Cancel Orders from Tata Motors and the Reason is Cyris Mistry

The popular cab aggregators, Ola and Uber have withdrawn a substantial number of orders of around 2.7 lakh vehicles from the largest automobile maker Tata Motors. These companies that have been a valuable player in the ride-hailing space, obtain cars from automakers to make it available for the cab drivers on installments, but now it has lost a good number of orders. This event was the outcome of a clash between the chairman emeritus Ratan Tata and company’s former chairman Cyrus Mistry. “How will Tata Motors justify turning away any proposal for a guaranteed offtake?“ asked Tata. According to the reports, Ratan Tata was in talks with Ola co-founder Bhavish Aggarwal who was willing to obtain 10,000 Nanos and Indicas/Indigos from Tata Motors on an immediate purchase, a lease or a j...
Read More
Cab Aggregator Ola Starts Earning From Each Ride
16Jul By Gauri SinghNo Comments
News

Cab Aggregator Ola Starts Earning From Each Ride

In the financial year 2016-2017, the cab aggregator Ola showed losses of around Rs 4,897 crore. In the last year, it saw losses of over Rs 2,313 crore. But now, the company is finally gearing up in terms of growth and profitability. It has been reported that the cab company has started earning on every cab ride that it offers. This amount is calculated after taking into account other expenses including driver incentives and customer discounts. And this is how the company is overlooking considerable targets for profitability. "We will continue to focus on profitable and sustainable growth, and building a growing profitable business, the first in Indian internet," said Ola CEO Bhavish Aggarwal.     With this, Ola will be earning profits on every ride that Ola complet...
Read More
Amazon Web Services Eyes to Sell its Networking Switches
14Jul By Gauri SinghNo Comments
BUSINESS

Amazon Web Services Eyes to Sell its Networking Switches

Amazon’s cloud service business ‘Amazon Web Services’ is eyeing to sell its own networking switches to the business customers. Amazon Web Services could price its white-box switches 70-80% less than comparable switches from networking giant Cisco, as reported by one of the persons with direct knowledge of the unit's plan. The company expects to launch the switches in the next 18 months. It stated that the devices will include open-source software and unbranded hardware known as "white-box" switches and will be introduced with built-in connections to AWS cloud services, such as servers and storage. Amazon Web Services (AWS) offers reliable, scalable, and inexpensive cloud computing services. It is a subsidiary of Amazon.com and offers on-demand cloud computing platforms to individuals...
Read More