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Verizon to Announce $5 Billion Deal to Buy Yahoo on Monday

25Jul By reutersNo Comments

ACQUISITION

Verizon to Announce $5 Billion Deal to Buy Yahoo on Monday

Verizon Communications Inc will announce an agreement on Monday to buy Yahoo Inc for about $5 billion (roughly Rs. 33,604 crores), according to a person familiar with the matter. The announcement will come before the start of New York trading hours, the source added. The deal will end months of uncertainty about Yahoo's future after the company announced plans to review strategic alternatives in February. Yahoo and Verizon both declined to comment. Reuters reported on Friday that Verizon had emerged as the front-runner in the Yahoo auction. The transaction would boost Verizon's AOL Internet business, which the company acquired last year for $4.4 billion, by giving it access to Yahoo's advertising technology tools, as well as other assets such as search, mail, messenger and r...

Dalitfoods.com: A Website For Pure Dalit Foods

18Jul By AdityaNo Comments

Story

Dalitfoods.com: A Website For Pure Dalit Foods

When was the last time you visited a restaurant with all Dalit chefs? Or picked up a cookery book with authentic recipes of Dalit cuisines? Or even bought a masala unique to Dalit recipes? Possibly never. For that matter, what counts as ‘Dalit food’ to begin with, you may ask. Not very surprisingly, the omniscient Google would be of little help here. Type ‘Brahmin recipes’ on the search bar, and you’ll be deluged with options, each sounding more tempting than the other. But type ‘Dalit recipes’, and suddenly Google Baba is as blank as the rest of the country. It is this invisible character of Dalit food that Dalit entrepreneur and adviser to the Dalit Indian Chamber of Commerce and Industry, Chandrabhan Prasad, is seeking to address through his new e-commerce venture dalitfoods.com whi...

7Jul By AnkitaNo Comments

News

GoDaddy Bets on Regional Languages For India Growth

US-based web hosting firm GoDaddy today said it will make its services available in three Indian languages -- Hindi, Marathi and Tamil -- to enable over 31 million small businesses (SMBs) to build their online presence. The NYSE-listed firm currently offers internet domain registration and web hosting services in the country in English. "India has 22 official languages and over 1,500 dialects. So, local languages certainly play a significant role," GoDaddy India and Australia Vice President and Managing Director Rajiv Sodhi said. The next wave of growth in internet usage is expected to come from tier II and III towns and with that millions of small businesses will also come online and leverage technology to drive business growth, he added. "Our strategy is led by a vision to develo...

5Jul By PriyankaNo Comments

News

ShopClues Added 60 k Sellers in Fashion Segment

New Delhi, July 5: Creating a mammoth in consumer offerings, ShopClues has established itself as the ultimate online destination for fashion. India's first and largest managed marketplace is going the extra mile to grow its existence pan-India. The online aggregator has added 60,000 new sellers on its platform in this segment and will take this number to 1,50,000 by the end of the year. In order to meet the expectations of its shoppers, the marketplace is constantly infusing fresh flavor into the category with new and popular brands such as Wrangler, Puma, American Tourister, Lotto, and Maxima along with 250 others. "At ShopClues, we strive to provide the best products from all corners of the country at the most reasonable prices. We are increasingly looking at bolstering our market...

5Jul By NitishNo Comments

FUNDING

Fintech Startup NeoGrowth Raises $35mn

Fintech startup NeoGrowth has raised USD 35 million (about Rs 225 crore) of equity from IIFL Asset Management and existing investors, including Accion Frontier Inclusion Fund, managed by Quona Capital. A significant portion of the equity was raised in the current round and other existing investors ? Omidyar Network, Aspada Investments and Khosla Impact ? also participated in the funding, IIFL said in a statement here. NeoGrowth will use the funds to help small retailers, including qualified borrowers with little or no credit history, access credit in the country, it said. Using a data and technology-driven approach, the company provides small and mid-sized retail enterprises with flexible, innovative loan products that are secured against retailers future credit card and debit sal...

4Jul By Press Trust of IndiaNo Comments

CHINA

China Bans Online Media From Publishing Reports

China has banned online media from publishing unverified content, especially from the social media, after the country's internet regulator punished some major websites that fabricated stories this year. China has banned online media from publishing unverified contents, specially from the social media. Online media basing news reports on contents made on social media must verify them before publication, China's Internet regulator said yesterday. News websites must accredit these sources, and they are banned from fabricating stories or distorting facts, according to a notice issued by the Cyberspace Administration of China (CAC), state-run Xinhua news agency reported. The CAC has punished some major websites which have fabricated stories this year, including sina.com, ifeng. com,...

Shahrukh Khan Branded DDecor Launched App and Website, Invested Rs 25 Cr

3Jul By AdityaNo Comments

News

Shahrukh Khan Branded DDecor Launched App and Website, Invested Rs 25 Cr

Home decor and furnishing company DDecor has invested Rs 25 crore in digital integration of its business and retail operations, and expects to increase its market share by 10 per cent in the next five years, a senior company executive said. "We have unveiled a digital product for sellers that will cover 1,000 sales points through the newly launched D-Assist platform. We will extend the digital platform for our designers and architects, and customers by August this year," Ajay Arora, Managing Director of DDecor Home Fabrics said. "We expect to increase our marketshare to 40 per cent from the present 30 per cent in the next five years through this initiative, which will also help us expand our markets," he added. The company has invested Rs 25 crore in the exercise of digitally integrating...

Myntra’s ‘End of Reason Sale’ Clocks 2 Million Product Orders on Day 1

3Jul By NitishNo Comments

News

Myntra’s ‘End of Reason Sale’ Clocks 2 Million Product Orders on Day 1

India's biggest fashion shopping sale, the fourth edition of Myntra's 'End of Reason sale', clocked over two million item orders placed by end of day one of the two-day weekend sale. In the run up to the opening of the sale at 12 am on Saturday, around Rs. 700 crore worth of products were added to the EORS wish list (A special feature offered for EORS-4). The wish list was offered for the first time for short listing of items to go on sale. Also, the Myntra App was ranked number one on iOS in India across all categories. Myntra and EORS were among the top searched items on Google and Twitter, with search trends higher than Amazon, during the same period. "The fourth edition of EORS has received phenomenal response so far. On the first day of the sale, we have seen installation of...

Over $8 Billion Funding in Mobile-Based Startups in 5yrs: Report

28Jun By Press Trust of IndiaNo Comments

ANALYSIS

Over $8 Billion Funding in Mobile-Based Startups in 5yrs: Report

With mobile phones contributing 40 per cent of all e-commerce sales in India in 2015, startups in m-commerce, video streaming, gaming and m-payment segments attracted USD 8,053 million worth of funding through 394 early stage deals in the last five years, a report said. The highlights of the Annual Indian Mobile Ecosystem Report, by News Corp VCCircle showed startups in these four segments are identified as major contributors to driving mobile data consumption. M-commerce and mobile payments attracted investment deals of USD 7,930 million cumulatively, in the last five years, it said. Across the four segments, 2015 saw a surge in terms of deal volumes with 115 early stage funding deals amounting to USD 2,857.73 million against 87 deals worth USD 3,285 million in 2014. "With a m...

28Jun By NitishNo Comments

FUNDING

Lendingkart Raises 205 Cr in Series B

Online loan platform Lendingkart Group today said it has raised Rs 205 crore (USD 32 million) in second round of funding led by Bertelsmann India Investments. The fresh round of funding also saw participation from Darrin Capital Management and existing investors - Mayfield India, Saama Capital and India Quotient, it added. With this, the company has raised Rs 260 crore (USD 41 million) till date. "With Bertelsmann India Investments (BII) onboard, we look forward to leveraging its deep understanding of global financial products as well as Internet businesses," Lendingkart Group co-founder and CEO Harshvardhan Lunia said in a statement. Of the Rs 205 crore funding, about Rs 128 crore (USD 20 million) was raised as equity and about Rs 77 crore (USD 12 million) as debt in the second round or...

25Jun By reutersNo Comments

CHINA

China Tightens Controls on Baidu Search Engine & Others

China's internet regulator said on Saturday that search engines should tighten management of paid-for ads in search results, making clear which results are paid for and limiting their numbers. The Chinese government already exercises widespread controls over the internet and has sought to codify that policy in law. Chinese regulators last month imposed limits on the number of lucrative healthcare adverts carried by Baidu Inc following the death of a student who underwent an experimental cancer treatment which he found using China's biggest internet search engine. Wei Zexi, 21, died in April of a rare form of cancer, and the case sparked widespread public anger. The Cyberspace Administration of China said search engines should investigate the "aptitude" of clients offering paid-for ...

Shopclues Expecting 20,000 Cr Sales in This Financial Year

24Jun By AdityaNo Comments

News

Shopclues Expecting 20,000 Cr Sales in This Financial Year

E-commerce company Shopclues expects to register more than two fold jump in Gross Merchandise Volume (GMV) from its platform at USD 3 billion (about Rs 20,000 crore) by the end of current financial year. "We are planning to close financial year 2016-17 at annualised GMV rate of USD 3 billion," Shopclues Chief Business Officer Radhika Ghai Aggarwal said. The company has registered GMV sales of USD 1.2 billion in 2015-16, she said. Shopclues expects that additional push to its business will come from fashion category which it has recently started. "The company has already added 60,000 new sellers on its platform under fashion category and will take this number to 1,50,000 by the end of the year. In GMV and orders terms, we expect 100 per cent growth in fashion category by end of ongoing ...