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Makemytrip And Ibibo Group Announced Merger

18Oct By NitishNo Comments

ACQUISITION

Makemytrip And Ibibo Group Announced Merger

MakeMyTrip Limited and ibibo Group (owned by global technology group Naspers Limited, have agreed to pursue a transaction that will combine the two businesses under MMYT, creating one of the leading travel groups in India that provides a one-stop shop for all Indian travellers and serves as a critical partner for travel industry suppliers. The combination will bring together a bouquet of leading consumer travel brands, including MakeMyTrip, goibibo, redBus, Ryde and Rightstay, which together processed 34.1 mm transactions during FY2016. The transaction is expected to unlock value for customers, supply partners and shareholders, by combining the complementary strengths of each business. MakeMyTrip brings its strong brand, robust mix of domestic and outbound hotels and packages busines...

Mahindra’s BabyOye Acquired by FirstCry For Rs 362 Crore

17Oct By NitishNo Comments

ACQUISITION

Mahindra’s BabyOye Acquired by FirstCry For Rs 362 Crore

Online babycare store FirstCry (BrainBees Solutions Pvt. Ltd) has acquired the franchise division of Mahindra Retail Pvt. Ltd, a subsidiary of Mahindra and Mahindra Ltd, which owns online babycare business BabyOye for Rs 362.1 crore in a cash and stock deal. “A business transfer agreement has been executed by and between Mahindra Retail Pvt Ltd (MRPL), a subsidiary of the company, Brainbees Solutions (FirstCry) and founder of the company to transfer the franchise division of MRPL (BabyOye) as a going concern on a slump sale basis to FirstCry,” The Company said: “In terms of the structure of the transaction, Mahindra Retail and FirstCry have consolidated their operations, with Mahindra Retail selling its franchise business to FirstCry, and operating all company stores under a firstcry...

Amazon challenges Apple and Spotify with New Music Streaming Service

12Oct By reutersNo Comments

News

Amazon challenges Apple and Spotify with New Music Streaming Service

Amazon.com Inc on Wednesday launched a full-fledged music streaming service with subscriptions as low as $3.99 per month for owners of its Amazon Echo speaker, accelerating the industry trend toward more flexible pricing after years of sticking to $9.99 subscriptions. The new streaming service, called "Amazon Music Unlimited," lets users access a vast catalog of songs on demand, similar to Spotify and Apple Music. Subscriptions to play music on the Echo cost $3.99 per month; for access beyond that device, subscriptions cost $7.99 a month for members of Amazon's Prime shipping and video service and $9.99 for non-members. Amazon will continue to offer Prime members a limited streaming service for free. As it plunges deeper into the crowded streaming field, Amazon is counting on the Ech...

Mobile Ad Spends Estimated Rs. 4200 Cr By The End of 2016 : Report

9Oct By NitishNo Comments

ANALYSIS

Mobile Ad Spends Estimated Rs. 4200 Cr By The End of 2016 : Report

Mobile ad spends estimated to be Rs. 4200 Cr. by the end of 2016 The smartphone has emerged as heartland India’s ticket to rich user experience in communication, entertainment and retail, allowing marketers to tap into both urban and rural markets with Mobile Marketing. The Mobile Marketing Association (MMA), in association with GroupM, India’s largest media and marketing conglomerate, have released a report on the mobile marketing ecosystem in India. Called the ‘Mobile Ecosystem and Sizing Report’, this report states that the Mobile Medium is the third largest mass media in India in terms of ad spends, after Television and Print. The ad spends on Mobile media is estimated to be Rs. 4200 Cr. by the end of 2016, and is expected to grow to Rs. 10,000 Cr. by end of 201...

From Booking Ticket to Ordering Meal, All on New Rail Application Soon

8Oct By Press Trust of IndiaNo Comments

News

From Booking Ticket to Ordering Meal, All on New Rail Application Soon

A seamless travel experience for rail commuters with a swipe of a finger is in the offing as Railways plans to revamp its mobile application and include “all passenger services” for its customers. “We are preparing an integrated mobile application for railway passengers which will take care of all their needs. “It will be an app that will take care of the entire journey — from booking a ticket to booking a taxi, pre-ordering a meal, requesting for porter services, lodging at a retiring room, ordering a bed roll, complaining about lack of cleanliness in a coach, accessing digital entertainment, reserving a hotel, booking an airline ticket in case of a waitlisted rail ticket, among other services,”said an official from the Non-Fare Directorate of the Railway Ministry. Ern...

5Oct By AnkitaNo Comments

FUNDING

Pune Based Muhurtmaza Raises Funding From HNI investor

Pune based Muhurtmaza, an online puja booking service has raised an undisclosed amount of seed funding from a US based HNI investor. Muhurtmaza currently operates in Pune, Bengaluru and Hyderabad among a few other cities, and will focus on increasing consumer awareness and strengthening its supply chain over the next few months using this funding round. As per the company they are the first company in this space to have received funding so far. On Muhurtmaza customers can book a priest online, depending on specific rituals and samagri required to conduct the ritual. Sowale told Pixr8 "We currently have 300 pandits on our platform and the plan is to scale this up to 600 by January". According to various estimates, this market segment is pegged at about $30bn and is almost entirely uno...

4Oct By NitishNo Comments

FUNDING

Global Payments Company Remitr Raises $1 Million Funding From Kunal Shah & Vijay Shekhar Sharma

MUMBAI, OCTOBER 4: Global payments company Remitr has raised around $1 million from a clutch of well-known global start-up founders and angel investors including Paytm founder Vijay Shekhar Sharma, FreeCharge’s Kunal Shah and Sandeep Tandon, GOQii founder Vishal Gondal, and Seedfund founder Pravin Gandhi. Founded in 2015 by Kanchan Kumar, Sandeep Jhingran and Sandeep Todi, Remitr’s platform routes end-to-end payments using its proprietary payment network, which integrates with clearing systems and third-party payment networks in various countries. There are a multitude of processing layers involved in cross-border payments, and each layer adds its own costs, coupled with exhaustive compliance requirements, making it expensive and complex. Remitr helps connects all the dots by ensuring c...

4Oct By NitishNo Comments

FUNDING

Food Ordering Startup InnerChef Raises $2.5 million Funding

InnerChef, Gurugram-based food ordering platform has raised $2.5 million funding led by Japanese early-stage fund Mistletoe with participation from Singapore-based M&S Partners and existing investors. Prior to this, InnerChef had raised around Rs 11 crore funding from a clutch of investors including Paytm's Vijay Shekhar Sharma, redBus co-founder Phanindra Sama, Shaadi.com's Anupam Mittal and GOQii founder Vishal Gondal among others. Anand Chandrasekaran, Facebook Messenger's head of platform/partnerships and formerly the chief product officer at Snapdeal, is also an investor in InnerChef. The company plans to use the funds raised to focus on its top markets - Delhi, Mumbai, Bengaluru, and Hyderabad. "We plan to invest the money in building a brand. We have started adding more k...

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...

2Oct By NitishNo Comments

News

Myntra’s Big Billion Days – 10 Things to Look Forward to

India's leading platform for fashion brands and a pioneer in m-commerce Myntra's Big Billion Days (BBD), is right around the corner and here are a few great picks that you absolutely can't miss at Myntra. Sanhita Dasgupta, Myntra Fashion Stylist, tells you how to dress-to-impress by picking great ethnic outfits this festive season and shares tips on styling them perfectly. Women Straight Kurta: This silhouette has officially taken over the women's fashion world. Colourblock, quirky printed or solids, the options are plenty. They are delicate, feminine and graceful, just like you. Pair them with palazzos to complete the look. Cropped Palazzos:This breezy bottom wear is exactly the thing you need in Indian weather. Comfortable yet stylish, they can take your ethnic avatar to a...

Market Potential Huge, E-commerce Bound To Succeed: Nadan Nilekani

30Sep By Press Trust of IndiaNo Comments

Entrepreneurs Talk

Market Potential Huge, E-commerce Bound To Succeed: Nadan Nilekani

E-commerce players in India are bound to succeed because of huge market opportunities, and the coming Diwali season will be a pointer to where this space is headed, says Infosys co-founder Nandan M Nilekani. He is also of the view that a prudent cash management and improved customer experience will stand them in good stead. "E-commerce businesses are becoming more disciplined about their operations, they are burning less cash, they are improving their customer experience, and this Diwali season will be a very good indication of how the market is growing," Nilekani, the brain behind the biometric Aadhaar, said. "All these companies are well-funded, they have enough capital to last for a couple of years. So, that gives adequate time to discipline the model. In any case, they are doing an ...

Stayzilla Sign Partnership Agreement With Punjab Heritage & Tourism Promotion Board

30Sep By NitishNo Comments

BUSINESS

Stayzilla Sign Partnership Agreement With Punjab Heritage & Tourism Promotion Board

Stayzilla, which offers a platform for verified homestays and alternate stays, has entered into a partnership with Punjab Heritage and Tourism Promotion Board (PHTPB) to jointly promote unique stays in the state. As per the Memorandum of Understanding, the company will assist PHTPB with verification procedures and jointly boost homestays and unique stays like farm stays, bed and breakfast and tented rooms within Punjab, Stayzilla said in a statement. "Our partnership with India's one of the leading Homestay aggregator will help in the growth of homestays across the state and address the under supply of quality rooms," Punjab Minister of Tourism and Cultural affairs and Archives and Museums Sohan Singh Thandal said. Stayzilla will be the strategic partner to help educate the locals...