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Showing posts from October, 2020

Tata Group To Buy Majority Stake In BigBasket For About $1 Billion: Report

  Indian  online grocery  startup  BigBasket  is in advanced talks to sell a majority stake for about $1 billion to salt-to-software conglomerate  Tata Group  , the Economic Times reported on Wednesday, citing three sources familiar with the matter. The century-old group has been planning to launch a "super app", one that will tie in all its consumer businesses, several media reports have said, as it competes against Amazon  and Reliance Industries  , who have made big bets on India's booming e-commerce market. Bengaluru-based  BigBasket  competes with Walmart Inc-owned Flipkart and Amazon's "Fresh" service as more consumers stay indoors and choose to shop online during the COVID-19 outbreak. The  Tata Group  and  BigBasket  did not immediately respond to a Reuters request for comment. China's Alibaba <9988.HK>, which holds around 26% stake in BigBasket, is expected to sell its entire shareholding in the co...

Parliamentary Panel Questions Paytm About Chinese Investment; Google Over Resisting Data Localisation

  Indian e-commerce finance company Paytm on Thursday offered a suggestion to the joint committee of Parliament on personal data protection bill that the government should “handle” encryption and decryption of data held by tech companies, only to withdraw it after several objections by members of the panel. The only indigenous Indian company among tech majors like Google, Amazon, Facebook and Twitter to be examined by the panel, Paytm was asked about the quantum of Chinese investments it has received, why parts of Paytm revenues, via its digital payment gateways, were pumped back to China, and the details of Paytm’s online betting App, which was removed temporarily from  Google Play  Store for violating its gambling policies earlier this year. Paytm vice presidents Narendra Singh Yadav and  Dharmendra  Jhamb acknowledged about 35% Chinese investment in Paytm, and also that some sensitive and personal data may be transferred outside India “for the purpose of p...

The Art Behind the Craft Beer of Bira91

  “ Indian craft beer Bira91 to launch 3 brands in UK by end of February ” – read a local UK newspaper “ Bira91  –  Now in the Southern Hemisphere making sure Aussie summers just got more delicious!”  – read a post from personal LinkedIn handle of Bira91 CEO/founder Ankur Jain. With presence in 9 countries by January 2020, Bira91 plans on to expand to 16 countries by end of this financial year. The 5-year young company took onus of creating a “craft beer imagined in India” & is today a leader of craft beer market in India. Bira91, Craft Brews & Millennials – a love triangle Though a popular term, a few know what makes craft beers so special. A craft brew is one that is ideally organic, locally sourced(often) & not mass produced. Craft beer is made in a traditional or non-mechanized way by a small brewery. In 2014-15, India consumed about 270 million cases of beer among which craft beers—including microbreweries, made up only one percent of the market. The...

Why Amazon And Reliance Are Clashing In India Over A Cash-Strapped Retail Chain?

  Two of the world's richest men are duking it out over a brick-and-mortar retail chain on the verge of default. But when it comes to the fight for India's  growing e-commerce market , every  battle counts . Amazon   ( AMZN ) , the Seattle-based e-commerce firm owned by Jeff Bezos, is fighting a $3.3 billion deal struck between Mukesh Ambani's Reliance Industries and the Indian retail conglomerate Future Group. What's at stake is strategic access to a network of popular grocery stores and retail shops in India — something both Amazon and Reliance want to either have for themselves, or to prevent the other from acquiring. "If someone backs down, it will give the impression that one has lost and the other has won, when the fight has just started," said Counterpoint Research analyst Tarun Pathak. Amazon has 31.2% market share in India's e-commerce industry, just behind Walmart-owned Flipkart's 31.9%, according to a recent report from market research firm ...

The IPL Is Grabbing More Eyeballs In The UK Than The EPL

  As expected, the Indian Premier League (IPL), now in its 13th season, is enjoying a good run on its home turf. What comes as a surprise, however, is the interest it has drawn in the UK. Indeed, in an encouraging sign of its growing international appeal, the cricket tournament has even surpassed the viewership of the English Premier League (EPL), perhaps the most popular sporting event in the country. According to data by Broadcasters Audience Research Board (BARB), the organisation that compiles audience measurement and television ratings in the UK, the IPL is gaining in popularity in that country. Sky Sports Cricket, a UK pay-TV broadcaster that has the rights to air IPL matches, recorded 17 lakh live viewers between October 12-18 for IPL matches. In addition, the cricketing league is being watched by over two lakh viewers every day in the UK. As many as 30 lakh viewers in the country watched the IPL in October. Winning the numbers game The highest watched EPL mat...

Byju Raveendran Says Will Ensure Messaging About Company Is Right; Real Message Is "Love For Learning"

  Byju Raveendran , Founder and CEO of edtech unicorn BYJU's, while speaking at YourStory's flagship event TechSparks 2020, acknowledged a question related to coding arm  WhiteHat Jr's marketing campaign  — that suggested children should start coding at a young age, saying the startup was  taking customer feedback seriously. In conversation with YourStory Founder and CEO Shradha Sharma, Byju emphasised that the company was  reviewing its marketing campaigns and its communication, and had already pulled most of WhiteHat Jr's ads off the air. WhiteHat Jr, which BYJU's acquired for $300 million , has been receiving flak on social media, along with a spate of bad reviews after its advertisements promised young students high salaries if they learned coding. There were also advertisements that portrayed a seven-year-old app developer speaking at a TED conference, and an apparently unsubstantiated testimonial from a child who claimed to have built the world's first eye...

Paytm Money Launches ETFs, Starting Rs 16 In Equity, Rs 44 In Gold And Rs 120 In Nifty

  Paytm Money, the wholly owned subsidiary of India's largest digital financial services platform  Paytm  has launched Exchange-Traded Funds (ETFs) on its platform, post-approval from the Securities and Exchange Board of India (SEBI). "With this inclusion, the company becomes a comprehensive platform wherein investors from across all financial and knowledge backgrounds can conveniently access ETFs and start investment journey to accumulate wealth for their various financial goals," says Paytm. An ETF is a passive form of investing which invests in a basket of securities that mostly tracks a certain index. It tries to mirror the return of the index it is tracking. Unlike mutual funds, ETFs can be bought and sold only through the stock exchanges. Demat account is a must to trade in ETFs. Since they are passively manged, ETFs are cheaper and have a much lower expense ratio compared to actively-managed mutual funds. Investments in ETFs through Paytm Money is relevant for firs...

Jhunjhunwala-Backed Tech Startup Unveils IPO Plan, Inventory Doubles In 6 Months

  Rakesh Jhunjhunwala-backed  Nazara Technologies  is planning to hit the primary market soon. The Mumbai-based mobile gaming company informed its shareholders about its  IPO  plan in a letter earlier this month. “This is to intimate you that the board of directors of Nazara Technologies, at its meeting held on September 16, 2020 approved the proposal to undertake an initial public offering of the equity shares of Rs 4 each of the company through the book building process and list the shares on one or more recognised stock exchanges in India,” says the letter. ETMarkets.com has seen a copy of the same. The issue may comprise fresh shares and offer for sale of equity shares from existing shareholders. The company will soon file the draft red herring prospectus (DRHP) with markets regulator Sebi. The issue size is yet to be decided, but some traders estimate the IPO price around Rs 950. When contacted, Nazara Technologies declined to comment. Nazara has a ...