Reshuffling of businesses continue at Zomato. After announcing the purchase of Paytm’s ticketing business, the Company has now shut down inter-city delivery service ‘Legends’ The service was suspended in April this year and was relaunched in July. The Company then had tweaked the model to deliver pre-stocked items from other cities with a shorter delivery … Read more
Zomato in a bid to further strengthen it’s going-out segment has agreed to buy Paytm’s movie and event ticketing business. Deal is an all cash deal for Rs 2,048 cr Paytm has said that it had built it’s movie ticketing business from the ground up and acquired Insider and TicketNew for Rs 268 crore between … Read more
Commerce and industry minister Piyush Goyal on Wednesday alleged that Amazon’s proposed $1-billion investment in India is to compensate for its huge loss that “smells of predatory pricing,” and of no great service to the economy. He also questioned the impact of ecommerce on crores of small retailers. “Are we going to cause huge social … Read more
The 46th Annual General Meeting (AGM) of Reliance Industries Limited (RIL) is being held on Monday. The RIL AGM is a major event for the Indian business community. The announcements made at the meeting could have a significant impact on the Indian economy. Investors are therefore eagerly awaiting the meeting to hear what Mukesh Ambani … Read more
Reliance Retail Ventures Limited (RRVL), a subsidiary of Reliance Industries (RIL) has announced raising Rs 8,278 cr from Qatar Investment Authority (QIA). Investment is raised at a pre-money equity valuation of Rs 8.278 lakh crore QIA will get 0.99% stake in RRVL on a fully diluted basis This fund raise effectively doubles RRVL’s valuation in … Read more
Paytm has informed that it’s Founder MD & CEO, Vijay Shekhar Sharma (VSS) is acquiring 10.30% stake from Antfin. Stake is being acquired through a 100% foreign entity owned by VSS – Resilient Asset Management B.V. In lieu of the acquisition, Resilient is issuing Optionally Convertible Debentures (OCDs) to Antfin Post transaction – VSS’s shareholding … Read more
Temu may have better deals than Amazon during Prime Day. Amazon excludes Temu from its price-comparison algorithm, Reuters reported. Consumer user data indicates that Temu could be a serious threat to Amazon’s mobile app traffic. Prime Day shoppers may find lower prices on Temu. Amazon, for its part, isn’t even trying to compete on prices … Read more
E-commerce giant Amazon has started testing the use of AI to summarize product reviews. Amazon seems to be doing a limited rollout of the feature that is appearing only in some listings. Such product review summaries could be useful in guiding customers toward newer reviews, per an Amazon marketing agency CTO. AI has truly … Read more