In India, there are approximately 270 unicorns and unicorns, with approximately 40 of them in industries such as fintech, ecommerce, and logistics having exceeded USD 100 million in revenue by the end of the fiscal year 2022. It took these startups between 5 and 12 years to reach this level of success. The time it […]
Walmart Inc. and other PhonPe shareholders will have to pay nearly USD 1 billion in taxes after the digital payments company relocated its headquarters to India, according to the media report. The bill is the result of the relocation and increase in value of PhonePe which Walmart acquired a majority stake in after acquiring parent […]
Amazon announced on Tuesday that it had reached an agreement with certain lenders to provide a USD 8 billion unsecured loan to the e-commerce giant. The term loan will mature in 364 days, with an option to extend for another 364 days, with the proceeds going toward general corporate purposes. According to a media report, […]
Shopify Technologies Inc launched a new service on Tuesday, aimed at large retailers allowing them to choose tools and services from the Canadian tech giant and integrate them with their online platform. The company said it had signed up toymaker Mattel Inc for the product and was looking to bring on other enterprise clients like […]
Oppo India is reorganising its channel management to sell its smartphones directly to local distributors, bypassing the Chinese layer that the company had established since its inception, as per media reports. The development coincides with increased government scrutiny of Chinese handset manufacturers such as Oppo. Oppo for distributing their products through Chinese partners. India has […]
Reliance Retail subsidiary announced on Tuesday that it will acquire a 50 per cent stake in Gujarat-based Sosyo Hajoori Beverages. Reliance Consumer Products, a wholly owned subsidiary of Reliance Retail, has acquired a stake in Sosyo Hajoori Beverages, which operated a beverage business under the ‘Sosyo’ brand. The existing promoters, the Hajoori family, will retain […]
Gunian Patidar, the Chief Technology Officer and Co-founder of food delivery app Zomato, resigned on Monday. Patidar was one of Zomato’s first employees and was responsible for the company’s core technology systems, according to a regulatory filing. “Over the last ten years, he has also developed a stellar tech leadership team capable of taking on […]
Dabur India has completed the purchase of a 51 per cent stake in Badshah Masala, paving the way for the FMCG giant to enter the branded spices and seasoning market. Badshah Masala produces, markets, and exports ground spices, blended spices, and seasonings. Dabur previously stated that the acquisition is in line with the company’s strategic […]
Restaurateurs and traders praised the Lt Governor’s decision to allow restaurants in 5-star and 4-star hotels in Delhi to operate 24 hours a day, saying it will boost the city’s night economy. However, a few restaurant owners have also urged the government to allow bars located outside of hotels to remain open 24 hours a […]
According to Rajeev Chandrasekhar, minister of state for electronics and information technology, Prime Minister Narendra Modi’s vision for 2023 is for mobile phone exports to rank among India’s top ten export categories. According to news agency PTI, the minister stated that the government will take all necessary steps to strengthen the country’s electronics manufacturing ecosystem […]
