BigBasket said it has acquired micro-delivery startup DailyNinja to consolidate its subscription delivery business. The deal is estimated to value Bengaluru-based DailyNinja at around Rs 48 crore in stock, people aware of the matter told ET requesting anonymity. The online grocery delivery startup had earlier acquired Pune-based RainCan and Bengaluru-based Morningcart for its morning delivery […]
Archives for 2020
Netflix to reduce traffic on telecom networks by 25% to mitigate congestion
Video streaming major Netflix on Tuesday said it will reduce traffic on telecommunications networks by 25% while maintaining the quality of service for users in India, as part of its efforts to help mitigate network congestion amid the coronavirus pandemic. Companies like Amazon Prime Video are also temporarily lowering bit rates – a measure of […]
Panel studying Data Bill seeks extension till Monsoon session
The Joint Parliamentary Committee studying the Personal Data Protection Bill, 2019 has sought an extension till the second week of the Monsoon session of the Parliament to submit its report on the landmark legislation. The committee headed by Bhartiya Janata Dal MP Meenakshi Lekhi was supposed to submit the report by end of the Budget […]
The IoT revenue promise that was never cashed in
Expectation and reality do not always match – and this is even more pronounced when it comes to projected revenue streams. For example, says Carsten Rhod Gregersen, CEO and founder of Nabto, industry insiders and investors were certain that making money in the connected space of the Internet of Things (IoT) was not limited to physical product sales. Rather, other […]
Edtech firms reap dividend as schools, universities go online
Illustration: Rahul Awasthi Educational technology companies are taking online education to the next level, as schools, colleges and coaching centres close down following the spread of the Covid-19 virus. Many students and professionals are signing up for online classes, for entrance exams like the JEE and NEET or for upskilling. Even school students are making […]
Lifestyle & fashion companies push discounts as stores stay shut
Illustration: Rahul Awasthi Fashion and lifestyle brands are offering steep discounts and pushing sales online amid an inventory pile up due to the closure of stores nationwide following the Covid-19 virus outbreak. The spread of the pandemic has hurt fashion and lifestyle retailers after states introduced lockdowns and containment policies including closure of malls. Brands […]
Everstone Capital in advanced talks to sell a 4-5% stake in Burger King India
Illustration: Rahul Awasthi Everstone Capital is in advanced talks to sell a 4-5% stake in Burger King India to private equity fund Oman India Joint Investment (OIJIF), for an estimated Rs 100- 150 crore, weeks after the IPO of the India franchisee partner of the US-based fast-food chain was postponed. If successful, the transaction could […]
Online therapy apps to the rescue as professionals seek help
Illustration: Rahul Awasthi As the Covid-19 pandemic intensifies across the globe, working professionals in India are becoming increasingly worried about their financial and job security, the overall economic conditions and the strain of working remotely. “Will I still have my job?” “How long will it take to go back to normalcy?” “How do I manage […]
Facing curbs, e-commerce firms halt pickups from vendors
Illustration: Rahul Awasthi Online and offline retailers across the country faced severe disruptions affecting the supply of essential goods as authorities cracked down by closing warehouses and stores in a bid to curtail the virulent spread of Covid-19. Even as the country’s largest ecommerce marketplaces Flipkart and Amazon temporarily suspended logistics services for sellers across […]
PCAOB provides firms opportunity for inspection relief
Registered audit firms that request relief from PCAOB inspections as a result of the coronavirus pandemic will be granted up to a 45-day relief period, with the exception of providing the board access to audit documentation for certain engagements. The PCAOB advised audit firms that wish to use all or part of the 45-day relief […]