Where losers are winners

I was at once amused, astonished and aghast at a couple of news items that appeared one below the other in a national daily. PayTM, a much touted desi payment app, hogged the headlines for two diametrically opposite reasons. One proudly proclaimed that PayTM’s parent company would be bidding for a sizeable stake in the private sector Yes Bank. And another announced that the same parent has tripled its losses in three years between FY2016-19, from Rs 1,500 crore to Rs 4,217 crore. Continue Reading

Google Pay targets 12 million kirana stores, aims to empower merchants

According to director – product management, Google Pay, India, Ambarish Kenghe, more and more people are embracing Google Pay and the aim is to tap into the small and medium businesses (SMBs) and the neighbourhood kirana stores, thus empowering both the merchants and the consumers go digital in a seamless and secure way. Continue Reading

Alibaba temporarily halts investments in India

Alibaba Group Holding Ltd, one of the biggest investors in Indian startups such as Paytm and Zomato, is temporarily halting fresh investments in the country as the Chinese e-commerce giant reviews its India strategy, four people aware of the development said. Continue Reading

Zomato sells UAE arm to Delivery Hero for $172 mn

“I am delighted to welcome Delivery Hero as a partner and shareholder and look forward to learning from their global experience to help us strengthen our fast growing India food delivery business,” Deepinder Goyal, CEO of Zomato, commented. Continue Reading