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December 31st, 2018 One of the top alcohol companies in China called Kweichow Moutai has announced that the company plans to sell about 31,000 tons of product in 2019. "The sales volume in 2019 will increase by 3,000 tonnes more than in 2018," said Li Baofang, chairman of Moutai Group. A total of 17,000 tons of liquor will be supplied to distributors...
BUSINESS

December 28th, 2018 Chinese smartphone maker Oppo has planned to invest 1 billion yuan ($145.7 million) to encourage mobile app developers to create gaming, video and other forms of quality content. The move has arrived after Oppo has accumulated 250 million monthly active users of its smartphones in the world. Every month, more than 200 million users...
BUSINESS

December 28th, 2018 US based video streaming service provider Netflix has reportedly picked up 1.5 lakh sq ft office space in Bandra-Kurla Complex (BKC), Mumbai's new business district, on long-term lease to set up its India head office. The video streaming giant leased the office space spread over two floors in commercial tower...
BUSINESS

December 27th, 2018 Apple’s Taiwanese supplier Wistron Infocomm Manufacturing India is planning capital infusion and has increased the authorized share capital of the company from Rs 185 crore to Rs 3,000 crore that signals a fresh round of capital infusion into its India unit. Wistron India, at its EGM recently, approved the altered capital...
BUSINESS

December 26th, 2018 The grocery delivery platform Grofers aims to garner $2.5 billion (around Rs 17,500 crore) in revenue by 2020 as it scales up its private label offerings in the country and focusses on expanding repeat purchases in its platform. The company, which has recently completed five years of its operations, has a revenue run rate...
BUSINESS

December 26th, 2018 PayU India's revenue nearly doubled in fiscal 2018 to Rs 588 crore from Rs 306 crore the year before. It has been reported earlier this month that the Indian subsidiary of the Naspers-backed PayU accounted for more than half the overall business of the financial technology firm, based on Naspers' half-yearly report for fiscal...
BUSINESS

December 26th, 2018 Weibo Corp, a leading social media platform, is investing 2 billion yuan ($290 million) to support content-driven e-commerce, multichannel networks, online celebrities, actors, entertainers and agencies in the next two years, as it attempts to better cater to the tech-savvy younger generation. "By September this year, China had...
BUSINESS

December 25th, 2018 Facebook India’s profit jumped about 40% to Rs 57 crore in the year ended March 2018, reflecting the increasing adoption of social media in a country where data costs have reduced drastically. The company’s total revenue in India surged 53%. The social media major in a financial statement said that the services it...
BUSINESS

December 24th, 2018 Venture Catalysts, a startup incubator, closed 57 deals in 2018, helping raise Rs 125 crore for startups in its portfolio, as per data from startup-tracking firm Tracxn. The deals ranged from Rs 3 crore to Rs 13 crore. During the year, its portfolio firms raised Rs 380 crore in total. Founder and president Apoorv...
BUSINESS

December 24th, 2018 OYO Hotels & Homes is “well-capitalised” and will be doubling down on growth in its home market of India. From the ongoing funding round, it plans to invest a fifth, or $200 million, in Asia’s third-largest economy. The SoftBank-backed company, which is in the process of raising $1 billion (Rs 7,000 crore) from a...
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