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E-commerce Giant Amazon Sets Up Captive Call Centers in India

24Oct By Gauri SinghNo Comments

BUSINESS

E-commerce Giant Amazon Sets Up Captive Call Centers in India

The e-commerce player Amazon has set up captive call centres in India to handle some of its international and domestic customer and seller services. The company has taken a departure from its previous strategy of working purely with business process outsourcing companies. The e-commerce giant is expecting to expand more and more in India. The company has been looking at its customer service strategy over the past year. It was in January that Amazon acquired a warrant in US company StarTek that is tied to the amount of revenue Amazon generates for the US BPO company. “Amazon has looked at this very strategically. If they are giving you business then they want part of that upside or, in some cases, they think they can generate and keep the efficiencies for themselves. They have a long ...

WeWork India Expands its Footprints in Mumbai & Bengaluru

22Oct By Gauri SinghNo Comments

BUSINESS

WeWork India Expands its Footprints in Mumbai & Bengaluru

The Indian arm of the popular co-working company WeWork that is based in New York has picked up 0.5 million sq ft office space in one of the largest deals by a co-working company. The space has been leased across four locations in two major property markets of Mumbai Metropolitan Region and Bangalore. This would push the company’s total portfolio to nearly 2 million sq ft. Bengaluru, drop by our newest workspace on Old Madras Road. To know more: https://t.co/T2MR7hQtTS#weworkindia pic.twitter.com/cad53LYhpE — WeWork India (@WeWorkIndia) October 15, 2018 Out of this, the largest lease is for nearly 2 lakh sq ft in Navi Mumbai, followed by nearly 1.5 lakh sq ft in Bangalore. Talking about the details, the leases have tenure of total 20 years including initial term...

22Oct By Gauri SinghNo Comments

BUSINESS

Indian Actor Saif Ali Khan Launches Ethnic Label ‘House of Pataudi’ with Myntra

The popular online fashion and lifestyle company Myntra has reportedly launched an ethnic brand with actor Saif Ali Khan known as ‘House of Pataudi’. The company co-owns majority of the brand along with the actor and Exceed Entertainment. “We have seen a lot of searches for ethnic wear on Myntra and decided to launch a brand for both men and women for all occasions,” said Ananth Narayanan, CEO of Myntra-Jabong. “We expect it to become the number one ethnic wear brand on Myntra in the next three years with a potential to have its own brand stores, but for now it’s only online,” he added. Meanwhile, Myntra has plans to launch stores for some of its other private labels. The online fashion retailer aims to launch 100 stores in the next two years. Narayanan believes that ethnic wear in I...

Tesla Rolls Out a Cheaper, Mid-Range Model 3

20Oct By Gauri SinghNo Comments

BUSINESS

Tesla Rolls Out a Cheaper, Mid-Range Model 3

One of the largest EV companies Tesla is coming up with a new, cheaper mid-range battery version of the Model 3 that starts at $45,000 before federal tax incentives. Tesla CEO Elon Musk made an announcement about the new variant through Twitter and also stated that it has an estimated battery range of 260 miles. The company’s website has already been updated and the customers in the U.S. can order the mid-range version as of today. The model will soon be offered in Canada as well. Just released lower cost, mid-range Tesla Model 3 & super simple new order page https://t.co/cz0TQn7IOZ — Elon Musk (@elonmusk) October 18, 2018 “As Model 3 production and sales continue to grow rapidly, we’ve achieved a steady volume in manufacturing capacity, allowing us to diversi...

Uber Expected to Reach the Valuation of $120 Billion Next Year

17Oct By Gauri SinghNo Comments

BUSINESS

Uber Expected to Reach the Valuation of $120 Billion Next Year

The global cab aggregator Uber has been growing at a great pace since its launch. The company is therefore, expected to be valued at valued at $120 billion when it finally goes public next year. According to the Wall Street Journal, Goldman Sachs and Morgan Stanley delivered the valuation proposals to Uber last month. Currently, the proposed valuation of the company is about $50 billion more than the company's most recent valuation, setting the stage for what would be one of the biggest listings ever. Uber and smaller rival Lyft's initial public offerings, both expected in 2019, will test investor tolerance for money losing technology unicorns. Dara Khosrowshahi, CEO of Uber stated that in September that Uber was on track for a 2019 IPO, adding that he was not concerned if Lyft went ...

Yet Again, OYO Forays into Another Nation

16Oct By Gauri SinghNo Comments

BUSINESS

Yet Again, OYO Forays into Another Nation

OYO, the India-based budget hotel chain has been foraying into various countries since a long time. And yet again, the company has entered into another region that is in the United Arab Emirates (UAE). OYO has become one of the most reached hospitality chain in India and is growing its existence day by day in other countries as well. The company has stated that with over ten full-inventory, franchised and operated hotels and over 1100 rooms in three Emirates in Dubai, Sharjah and Fujairah, the room rates in the market will start at 150 dirhams. “With over 170 countries committing to the World Expo 2020, the hospitality sector in the Middle East, and more specifically UAE, is poised to grow substantially and with our market learnings and expertise we are ready to tap this opportunity,” ...

Three of Top 10 Indian Firms lost Rs 1 trillion in m-cap

15Oct By Gauri SinghNo Comments

BUSINESS

Three of Top 10 Indian Firms lost Rs 1 trillion in m-cap

Three of the top 10 and India’s most valued companies together saw a dissolution of ₹1,07,026.12 crore in market capitalisation last week where IT major TCS took the biggest knock. The three companies that witnessed the same were Tata Consultancy Services (TCS), ITC and Infosys. The firms suffered a decline in their valuation for the week ended on Friday. On the other hand, RIL, HDFC Bank, Hindustan Unilever Ltd (HUL), HDFC, SBI, Kotak Mahindra Bank and Maruti Suzuki India ended with gains. Altogether, the erosion suffered by the three companies was higher than the combined gain of Rs 97,498.38 crore that was made by the rest of the seven firms. The valuation of TCS plunged by Rs 85,330.17 crore Rs 7,19,857.48 crore. On the other hand, the market cap of Infosys slumped ₹18,696.68 ...

Vodafone Idea Launches a New Safety Service for Women

13Oct By Gauri SinghNo Comments

BUSINESS

Vodafone Idea Launches a New Safety Service for Women

With the increasing need for the safety of women in India, Vodafone Idea has launched a new mobile-based safety service called ‘Vodafone Sakhi’ for women. This service will include features such as emergency alerts, emergency balance and private number recharge. These features will be available for the women customers using Vodafone pre-paid services across the country. This particular service would work across smartphones and feature-phones even without any balance or mobile internet. “India has over a billion mobile connections and almost half of our population is women. Yet, less than 18% of mobile subscribers are women. Further, most women have access to only feature-phones and basic mobile phones. This large gap in mobile access and usage also conveys a lost opportunity to conne...

App Store Generated 93% More Revenue Than Google Play in Q3

12Oct By Gauri SinghNo Comments

BUSINESS

App Store Generated 93% More Revenue Than Google Play in Q3

There has always been a competition between Android and iOS and with this, the fight between the App Store and the Google Play Store also emerged. In the third quarter of 2018, that gap between the two widened considerably. In this quarter, the App Store earned nearly 93% more than Google Play, the largest gap since at least 2014. The company says that approximately 66% of the $18.2 billion in mobile app revenue generated in Q3 2018 came from Apple’s App Store. The App Store made $12 billion in the quarter, up 23.3% from the $9.7 billion it made during the same period in the previous year. On the other hand, Google Play earned $6.2 billion in the quarter, up 21.5% from the year-ago quarter’s $5.1 billion. In terms of app downloads, however, Google Play still has the edge thanks t...

Google to Launch its Online Storefront by November in India

11Oct By Gauri SinghNo Comments

BUSINESS

Google to Launch its Online Storefront by November in India

The festive season in India is arriving and all the companies are gearing up for it. The technology giant Google is also looking to capture the e-commerce market in the country. Google is planning to launch an online storefront for all its branded hardware products in November. This store will have the electronic devices including its flagship smartphone Pixel, Chromecast, Google Home smart speakers, and virtual reality headset, Daydream. The storefront will be a website where Google will merely display its branded and licensed hardware products, however, it will be able to gain access to customer data and have a stronger influence over the buying experience. “We are looking to launch a Google-branded online store for all hardware launched in India, with an authorized partner who wi...

Bank of Baroda Ties Up with Truecaller to Facilitate UPI Payments

10Oct By Gauri SinghNo Comments

BUSINESS

Bank of Baroda Ties Up with Truecaller to Facilitate UPI Payments

The popular Indian bank called Bank of Baroda has partnered with True Software Scandinavia, which is the parent company of the caller-ID app Truecaller. This move has been taken to enable digital payments using BHIM Baroda Pay UPI Service. Following the deal, those who register for payments under the UPI platform through the Truecaller app will get a @barodapay handle. This will be the address for receiving or sending money from their bank accounts. “We are getting in people who have been outside of the e- payments system in a frictionless way as many phone users already have Truecaller app installed,” BoB head fintech and new business initiatives Akhil Handa said. With this, Truecaller has launched its account-to-account payment service before Whatsapp. Truecaller’s service is fully ...

HCL to Set up New Global IT Centres & Create Over 5,000 Jobs

9Oct By Gauri SinghNo Comments

BUSINESS

HCL to Set up New Global IT Centres & Create Over 5,000 Jobs

The popular IT company HCL Technologies will reportedly set up a Global IT development centre at Gannavaram in Andhra Pradesh and this will create more than 5,000 jobs. The new centre is spread over 29.86 acres and is anticipated as part of Andhra Pradesh's drive to create a new IT hub. With this, the company will invest over Rs 700 crore to develop two facilities in the state, in phases over the next few years. As a part of the deal, a skill development centre with a 1,000-seat capacity will also be developed. "The creation of this Global Centre is aligned with our strategic vision to expand and create opportunities in the emerging cities. We are confident that HCL Global Centre in Vijayawada will be one of the best IT centres in the industry in the coming years," said Executive ...