Monday, December 23

Tag: online

Uber Faces Criminal Probe Over Software Used to Evade Authorities
News

Uber Faces Criminal Probe Over Software Used to Evade Authorities

The U.S. Department of Justice has begun a criminal investigation into Uber Technologies Inc's use of a software tool that helped its drivers evade local transportation regulators, two sources familiar with the situation said. Uber has acknowledged the software, known as "Greyball," helped it identify and circumvent government officials who were trying to clamp down on Uber in areas where its service had not yet been approved, such as Portland, Oregon. The company prohibited the use of Greyball for this purpose shortly after the New York Times revealed its existence in March, saying the program was created to check ride requests to prevent fraud and safeguard drivers. The Times report triggered a barrage of negative publicity for the company. The criminal probe could become a sign...
CarTrade.com Acquires Adroit Inspection
ACQUISITION

CarTrade.com Acquires Adroit Inspection

Online auto classifieds platform CarTrade has acquired vehicle inspection and valuation company Adroit Inspection for an undisclosed amount. Adroit Inspection has tie-ups with banks and insurance companies and has team of over 300 field inspectors spread across the country. The acquisition of the inspection and valuation company will further strengthen its services in the new and used car segment, the company said in a statement today. CarTrade, post its merger with Carwale in 2015, claims to be the leading automobile marketplace that helps consumers to buy and sell new and used cars. CarTrade Founder and CEO Vinay Sanghi said: "There are immense opportunities waiting to be tapped in the vehicle inspection and valuation space. The Adroit team undoubtedly is the best in the mark...
Amazon to Add 7 New Warehouses in India, Hire 4,000 people
BUSINESS, News

Amazon to Add 7 New Warehouses in India, Hire 4,000 people

E-commerce giant Amazon continues to aggressively expand its operations in the country with the addition of seven new warehouses, a move that will provide employment to about 4,000 people. The US-based company, which has committed an investment of USD 5 billion in the Indian market, will have 41 warehouses or Fulfilment Centres (FCs) by the end of June this year. Amazon, which is locked in an intense battle with local rival, Flipkart, has been pumping in funds to expand infrastructure and technology platform in the country. "This (new FCs) will double our storage capacity this year as compared to last year. We continue to invest in strengthening our infrastructure to match our pace of business expansion in India," Amazon India Customer Fulfilment Vice President Akhil Saxena told P...
Paytm Sold Over 30 kgs of Digital Gold
News

Paytm Sold Over 30 kgs of Digital Gold

Alibaba-backed Paytm today said it has sold over 30 kgs of digital gold in six days of launching the service in partnership with gold refiner, MMTC- PAMP. Last week, the two companies had launched Digital Gold service that allowed customers to buy and sell gold through Paytms electronic platform. The facility allowed people to buy gold for as low as a Re. "We are registering high traction from smaller cities as well since consumers now have better access to high quality gold at small ticket prices," Paytm Senior Vice President Krishna Hegde said in a statement. Using their Paytm mobile wallets, consumers can purchase 24K 999.9 purity gold online and store it in MMTC-PAMPs secure vaults free of charge. They can also request for their gold to be delivered at their homes in the...
ShopClues Expanding its Fashion Business To Hit Profit Goal
News

ShopClues Expanding its Fashion Business To Hit Profit Goal

ShopClues is expanding its fashion business by bringing on board more local brands and enhancing product offerings, a move that will steer the e-commerce marketplace towards overall profitability. ShopClues, which focuses on value and mid-price segments, aims to hit overall profitability by the first half of 2018- 19. Talking about the lifestyle segment, ShopClues Co-Founder and Chief Business Officer Radhika Aggarwal said the current size of Indias apparel and lifestyle market is estimated to be over USD 90 billion but only 2 per cent of this is online. "However, this (lifestyle) is also the fastest growing category and reaches 24 per cent of online consumers in India," she told Pixr8. The lifestyle segment is fast growing with intense competition among not just fashio...
536 Million Users to Log Onto Internet in Indian Languages by 2021
ANALYSIS

536 Million Users to Log Onto Internet in Indian Languages by 2021

An estimated 536 million Indians are expected to use regional languages while online by 2021, complemented by increasing affordability of devices and data charges and availability of more local content, a report by Google-KPMG says. The report estimates that Hindi Internet users (at 201 million) will outnumber those accessing the web in English at 199 million by 2021. India is expected to have 735 million Internet users by the same time from 409 million in 2016. Interestingly, a significant number of Indian language Internet users already access government services, classifieds, news and payment services "exclusively online". Indic language users are not just accessing chat apps and digital entertainment but are also opting for digital payments methods. In 2016, the ...
Leading Jewellery Chain Kalyan Jewellers Acquired Online Jewellery Firm
ACQUISITION

Leading Jewellery Chain Kalyan Jewellers Acquired Online Jewellery Firm

Leading jewellery chain Kalyan Jewellers today acquired the online jewellery firm Candere to augment its presence in the growing online jewellery segment for an undisclosed sum. Kalyan will acquire the equity held by Singularity Strategic, the family office of Brijesh Chandwani and Subram Kapoor and as part of the deal the Thrissur-based company will complete a phased acquisition of the equity held by founder promoter Rupesh Jain, apart from investing more into the firm. The additional investment is primarily to expand Canderes geographical presence into the growing West Asian market including the UAE, Kuwait and Qatar. This is Kalyan first strategic move of its kind as it continues to pursue aggressive growth plans, both organically and inorganically. Rajesh Kalyanaraman, exec...
India’s Leading Universities Like DU, IIT-D, AMU Among 10 Websites Hacked
News

India’s Leading Universities Like DU, IIT-D, AMU Among 10 Websites Hacked

At least 10 official websites including those of premier educational institutions like Delhi University, Aligarh Muslim University, IIT Delhi and IIT BHU - were hacked today with "Pakistan Zindabad" slogans displayed on them. The hacker group, which identified itself as "Pakistan Haxors Crew (PHC)", said, "nothing deleted or stolen. Just here to deliver my message to Indians." Other websites which have been hacked are University of Kota; Army Institute of Management and Technology, Greater Noida; Defence Institute of Advanced Technology; Army Institute of Management, Kolkata, National Aerospace Laboratories and Board of Research in Nuclear Sciences (BRNS). "Greetings Government of India, and the people of India. Do you know what your so-called heroes (soldiers) are doing in Kashmi...
Mobikwik & Freecharge Initiated Merger Talks
BUSINESS

Mobikwik & Freecharge Initiated Merger Talks

As per the report, India's two leading e-wallet company MobiKwik & Freecharge looking to merge in an all-stock deal. According to speculation, behind this deal a chinese investor who is willing to pump Rs USD 200 million into this deal. The talks between Freecharge and MobiKwik are on their initial stages. Sequoia Capital is the major investor in both startups. Jason Kothari, the CEO of Freecharge is in talks with various investors in the US and China. PayPal had earlier shown interest in investing into Freecharge, but the deal did not materialise. PayU, Flipkart and Paytm is rumoured to be interested in FreeCharge. Freecharge is a part of online shopping platform Snapdeal, which has also been in merger talks with e-tailer Flipkart. MobiKwik, which has opened 13 new offices...
Ronnie Screwvala Launches Rs 100 Crore Online Education Scholarship Fund
FUNDING, News

Ronnie Screwvala Launches Rs 100 Crore Online Education Scholarship Fund

Online education start-up co-founder Ronnie Screwvala has launched a Rs 100 crore education scholarship fund to provide loans to those looking at doing online courses to improve their skill sets. The fund will give scholarships ranging from Rs 25,000 and up to Rs 2 lakh. "We need 125 million young Indians in post-graduation studies and currently not more than 30 million today are engaged in higher studies as a majority of them start working early in their career and so online learning or education is the real answer," Screwvala said in a statement here today. He said the scholarship fund is aimed at skilling motivated individuals in relevant areas and equip them with industry-relevant knowledge. The fund is been launched with an initial corpus of Rs 100 crore and Screwvala aims...
TCS partners social organisation for online teaching community
BUSINESS

TCS partners social organisation for online teaching community

IT firm Tata Consultancy Services (TCS) today said it has partnered Jnana Prabodhini, a social organisation, to build the world's largest online community of teaching professionals. As part of the association, TCS iON (a unit of TCS) will work with Jnana Prabodhini to offer a platform to teachers for contributing and collaborating with peers and experts, a statement said. The community will also provide a range of certification courses and training programmes to help participants to enhance their skills and work towards academic and professional success.
Indian Narcotics Control Bureau Busted an Illegal Internet Pharmacy Startup
News

Indian Narcotics Control Bureau Busted an Illegal Internet Pharmacy Startup

The Narcotics Control Bureau of India today said it has arrested two persons involved in an illegal internet pharmacy business and has seized psychotropic drugs worth lakhs of rupees from them. The NCB teams of Andhra Pradesh, Karnataka and Telangana raided on April 18 night a "clandestine and unregistered" call centre at Thanisandra that used to sell psychotropic substances and other prescription drugs through the internet to thge US, Australia and various European countries. During the search, a large quantity of psychotropic substances like Alprazolam, Amphetamine, Diazepam, Clonazepam, Lorazepam among others were seized, NCB said in a statement. It said two persons, Salim Pasha and Mohammed Suhail Ahmed, were arrested under the Narcotic Drugs and Psychotropic Substances (NDPS)...