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WORLD RECORD- Jio Welcome Offer Enrols 16 Million Customers in 26 Days

9Oct By PriyankaNo Comments

News

WORLD RECORD- Jio Welcome Offer Enrols 16 Million Customers in 26 Days

Mumbai, October 9 2016: Reliance Jio Infocomm Ltd. (Jio) announced today that it has created a world record by crossing 16 Million subscribers of 'Jio Welcome offer' in its first month of operations. Jio has achieved this growth faster than any other telecom operator or start up in the world including the likes of Facebook, WhatsApp and Skype. ALSO READ: How Mukesh Ambani’s Reliance Jio Fooled us in the Name of Cheaper Data Mr. Mukesh D. Ambani, Chairman, Reliance Industries Limited, said, “We are delighted and humbled by the overwhelming response across India to the Jio Welcome Offer. Jio is built to empower every Indian with the power of data. We are delighted that people have recognized this and are utilizing our services to the fullest. We are customer-obsessed and commit...

$943 Million – the Loss to Indian Economy From Internet Shutdowns

8Oct By NitishNo Comments

Story

$943 Million – the Loss to Indian Economy From Internet Shutdowns

22 internet shutdowns that occurred in India between 2015 to 2016 cost the country’s economy an astonishing $968 million, contributing to a total global cost of $2.4 billion, says Darrell West in a study published by Centre for Technology Innovation, Brookings Institution. Citing the example of one such instance West says India disrupted Internet services in response to concerns over students cheating on exams. An Indian official said, "considering the sensitive nature of the exam for recruitment of talents, internet service providers have been asked to shut down all internet-based social media services from 9am to 1 pm to prevent the mobile misuse during exams. " In many other instances, Regional Indian officials also ordered disruptions in response to public security concerns. ...

2Oct By reutersNo Comments

INDIA

India Gets $8 Billion Worth Telecoms Spectrum Bids on Auction’s First Day

India started its biggest ever telecoms airwaves auction on Saturday, receiving 535.31 billion rupees ($8.04 billion) worth of bids on the first day of the sale, a senior government official said. Market leaders Bharti Airtel Ltd, Vodafone's local unit and Idea Cellular Ltd are pitted against new entrant Reliance Jio Infocomm Ltd in the battle for airwaves to boost their high-speed data services in what is the world's second-biggest market by mobile phone subscriptions. The total value of the airwaves put on the block is estimated to be worth $84 billion based on the auction reserve price set by the government, although industry executives and analysts expect only part of it to be sold. Data released by the government's Department of Telecom (DoT) at the end of five rounds of bidd...

20Sep By reutersNo Comments

ACQUISITION

Walmart Completes Jet.com Acquisition

Wal-Mart Stores on Monday said it has completed the acquisition of Internet retailer Jet.com after agreeing to pay about $3 billion for the e-commerce startup last month. Wal-Mart Chief Executive Doug McMillon announced the closing of the deal, which was pending regulatory approval, in a blog post on the retailer's website. The deal, which was the largest for an online startup, will give Walmart access to Jet.com's innovative pricing software and will help the Bentonville, Arkansas-based retailer to better compete with online rival Amazon.com. "A lot of folks ask me 'Why Jet.com?," McMillon said in a blog post. The answer he said was in the savings both Walmart and Jet can together offer shoppers. Jet, with its ability to lower prices as customers add more items to their shoppi...

How Mukesh Ambani’s Reliance Jio Fooled us in the Name of Cheaper Data

17Sep By VishwadeepakNo Comments

Story

How Mukesh Ambani’s Reliance Jio Fooled us in the Name of Cheaper Data

Disclaimer: We got this brilliant analytical piece about newly launched Reliance Jio scheme (of almost free data) from WhatsApp. We are publishing it because it shows the other side – which is obviously not so good - of the so called revolutionary idea, to promote awareness. In the name of fulfilling PM Modi’s dream for Digital India, Reliance used his image in its full page advertisement but the question remains unanswered. How will it help India to be more Digital ? Did Reliance Jio make false promises to make profit? Is Reliance Making the hay while sun is shining? We would like to know the name of the author. If any one can send us, that will be a great help. I must admit that I was euphoric over the Reliance Jio launch. Also, thanks to the media hype, I initial...

QuikrCars Acquires Stepni, Adds Vehicle Maintenance Services

7Sep By NitishNo Comments

ACQUISITION

QuikrCars Acquires Stepni, Adds Vehicle Maintenance Services

Online classifieds platform Quikr today said it has acquired Stepni, a platform that connects vehicle owners with neighbourhood service providers, for an undisclosed amount. The move strengthens Quikrs service offerings under QuikrCars and also opens cross-selling opportunities for QuikrServices, it said in a statement. Stepnis founders and team will join QuikrCars with immediate effect, it added. Since last year, Quikr made several acquisitions. QuikrHomes acquired Realty Exchange (IRX), Realtycompass and CommonFloor and made a strategic investment in A N Virtual Tech. Under QuikrServices, it acquired beauty services companies Salosa and Zapluk, while QuikrJobs acquired Hiree to expand into white collar jobs. Founded by Vinay Singh and Nikhil Nair in October 2015, Stepni ha...

This is How Mukesh Ambani’s Reliance Jio Will Make Money

4Sep By AnkitaNo Comments

Story

This is How Mukesh Ambani’s Reliance Jio Will Make Money

16th July 2016: The Indian Telecom Market - Basic Facts There are 100 crores of mobile users in India (1 billion). This means 80% of India is connected to mobile phones (voice calling) However, only 34% of India’s population is connected to the internet. Among those using mobile phones, only 10% use 3G data or above. If you were a telecom company, you would realize that there isn’t going to be a lot of movement in voice now. This is because almost all people have mobile phones. The next big challenge is the internet. Future lies in using data on your mobile phones. Hence, the smartest move now is to invest in building your infrastructure for the future. Here is why nothing else matters - When you have data, you don’t care about messaging. Who really uses SMS after the ...

Facebook Satellite Blast During Launch of SpaceX Rocket

2Sep By PriyankaNo Comments

INDIA, News

Facebook Satellite Blast During Launch of SpaceX Rocket

AFP- An unmanned SpaceX Falcon 9 rocket exploded on the launch pad during a test in Florida on Thursday, destroying a satellite that Facebook planned to use to beam high-speed internet to Africa. The blast at Cape Canaveral — though it caused no injuries — marks a setback for the California-based private space firm and its founder, internet entrepreneur Elon Musk, who wants to revolutionize the launch industry by making rocket components reusable. Loss of Falcon vehicle today during propellant fill operation. Originated around upper stage oxygen tank. Cause still unknown. More soon. — Elon Musk (@elonmusk) September 1, 2016 Dramatic footage broadcast by ABC News showed the rocket burst into a roaring ball of flame amid what appeared to be a succession of blasts — sending its payl...

Amul MD Appointed Director of India Postal Payment Banks

22Aug By Press Trust of IndiaNo Comments

News

Amul MD Appointed Director of India Postal Payment Banks

Amul Managing Director R S Sodhi has been appointed as independent director on the board of India Post Payment Banks (IPPB) -- the payments bank arm of postal department. "GCMMF Managing Director R S Sodhi has been appointed independent director on the board of IPPB," an official source said. Gujarat Cooperative Milk Marketing Federation (GCMMF) sells the Amul brand of milk products. Sodhi is one of the five independent members to be appointed on the board IPPB, which is set to be operational in March 2017. The board will have four in-house representatives. IPPB came into existence after it received certificate of incorporation from the Registrar of Companies on August 17. Payments bank allows mobile firms, supermarket chains, and others to cater to banking requirements o...

Cisco to Cut 5,500 Jobs in Shift From Switches to Software

20Aug By reutersNo Comments

News

Cisco to Cut 5,500 Jobs in Shift From Switches to Software

Cisco Systems Inc said it would cut nearly 7 percent of its workforce, posting charges of up to $400 million (roughly Rs. 2,672 crores) in its first quarter, as the world's largest networking gear maker shifts focus from its legacy hardware towards higher-margin software. The gradual move to fast-growing sectors such as security, the Internet of Things and the cloud is a response to sluggish demand for Cisco's traditional lineup of switches and routers from telecom carriers and enterprise customers, amid intense competition from companies such as Huawei and Juniper Networks Inc . Savings from up to 5,500 job cuts would be reinvested into key growth areas, Cisco said. "We think this is partly an effort by (CEO) Chuck Robbins to put a stake in the ground and send a message that ...

Didi’s Cheng Wei: Chinese Patriot Who Tamed Uber

12Aug By reutersNo Comments

CHINA, News

Didi’s Cheng Wei: Chinese Patriot Who Tamed Uber

Cheng Wei, 34, was once assistant to the head of a foot massage firm. Last week, his company Didi Chuxing bagged Uber's China business in a deal valuing his ride-hailing start-up at $35 billion - a second success in as many years in a gruelling battle with a rival. Investors and Didi staff say Cheng has a cool head, a keen strategic eye and a lack of ego - all pivotal in taking on and beating Uber in a two-year, multi-billion-dollar scrap for China's competitive ride-hailing market. But his leadership style is also cut-throat and tinged with nationalism, say some of those who know him. He often references China's history and military in his speeches. He will be closely watched now as he looks to turn his vast, money-losing ride-hailing company into a meaningful business. Chinese m...

Nasper is Set To Acquire Citrus Pay For $180 Million

8Aug By NitishNo Comments

ACQUISITION

Nasper is Set To Acquire Citrus Pay For $180 Million

Citrus Pay, founded by Jitendra Gupta and Satyen Kothari in 2011 set to acquire by South African media and internet conglomerate Naspers for around $150-180 million, in an all-cash transaction deal. Japan's internet major Rakuten was also one of the contender to acquire Citrus Pay. However, the deal fell through. This acquisition deal is one of the largest deals in the Indian payments market. Earlier Snapdeal buy out Freecharge for $400 million (30% cash, 70% stock). The domestic payments market has been abuzz with mergers and acquisitions in the past year after vast opportunity created by leading players Paytm and Freecharge. ALSO READ: PayPal founder invest $3 million in Mumbai based startup citrus Pay Payment company Citrus Pay acts as a bridge between bank acc...