BUSINESS
Zoho is using Sanskrit to build machine translation software: CEO Sridhar Vembu
The Zoho co-founder is working with a small engineering team in Tamil Nadu's Tenkasi village to develop the technology
BUSINESS
Loss or break-even? Zomato blinks months after claiming break-even of food delivery biz
In today’s shareholder letter on September quarter performance, the company revised its Adjusted Ebitda for the food business in the June quarter from zero (implying break even) to a loss of Rs 113 crore
BUSINESS
ONDC to start beta testing in parts of Delhi on Nov 28, focus on food delivery
While the focus in the Bengaluru launch was more on the grocery side, the priority will be food delivery in Delhi
BUSINESS
Paytm ahead of schedule on break-even plans: CFO Madhur Deora
With its revenue from the lending business growing fast, the company expects further improvement in overall margins
BUSINESS
Zoho may hire 1,000 over next year, crosses $1-billion revenue milestone
Chennai-headquartered SaaS company says it crossed the milestone of $1 billion in revenue last year
BUSINESS
Paytm Payments Bank receives RBI observations on IT report
The payments bank is a joint venture between Paytm, which owns a 49 percent stake in the company, and Vijay Shekhar Sharma, who holds 51 percent.
BUSINESS
Corporate Crossings | Zomato Intercity head Siddharth Jhawar quits, to lead India wing of Tiger-backed Moloco
Blinkit executive Kamayani Sadhwani has taken over as head of Zomato's Intercity Legends service
BUSINESS
Udaan prepares to lay off over 10% of employees, a week after $120 million financing
Up to 350 on-payroll employees to get impacted, apart from a number of contractual workers
BUSINESS
Meta India head Ajit Mohan quits with immediate effect; joins rival Snap
Ajit Mohan is joining rival Snap, people familiar with the matter told Moneycontrol. Manish Chopra will lead Meta's India unit on an interim basis.
BUSINESS
As end of Nykaa lock-in looms, CEO says HNIs tend to remain invested for long term
Falguni Nayar says company not aware if pre-IPO investors would hold their stakes or sell after the lock-in expires on November 10
BUSINESS
Flipkart wholesale arm records 18% growth in revenue at Rs 51,176 crore in FY22
Net loss widens to Rs 3,404 crore
BUSINESS
IT rules amendment: What it means for internet platforms and users in India
For users, these amendments provide a separate platform where they can appeal content moderation decisions of digital intermediaries, ranging from Facebook to an e-commerce company like Amazon
BUSINESS
IT Rules Amendment: Govt doesn't want to be internet ombudsman, says Rajeev Chandrasekhar
Minister of state for Electronics and Information Technology says the committee on content moderation will direct appeals to the right tribunals when they are outside MeitY's purview. He says the govt went ahead with the amendment only after social media platforms failed to come up with a self-regulatory organisation
BUSINESS
IT Rules amendment: Government threatens punitive provisions if intermediaries don't comply with GAC decisions
Any user aggrieved by a decision of an intermediary's own grievance officer can appeal to the GAC within 30 days
BUSINESS
New IT Rules: Govt panels to hear user appeals against social media platforms
Centre to establish one or more grievance appellate committee within 3 months
BUSINESS
Key Flipkart arm saw revenue rise 31% to Rs 10,659 crore in FY22; loss widened to Rs 4,362 crore
Flipkart Internet's EBITDA loss ballooned from Rs 2,227 crore in FY21 to Rs 3,925 crore in FY22
BUSINESS
Amazon signals hiring pullback as sales growth sputters
International segment sales declined 5 percent year-on-year to $27.7 billion in the September quarter
BUSINESS
Nykaa, Policybazaar, Paytm, and Delhivery get nervy in November as Rs 87,000 crore of shares near lock-in expiry
The four stocks have fallen an average of 19 percent in the last one month. While PE/VC shareholders may look to exit a part of their holdings, they are expected to largely stay put with their investments so as to not scare off retail investors
BUSINESS
Expect chip plants' groundbreaking in 18-24 months: Rajeev Chandrasekhar
We will be the hub of talent for the global electronics ecosystem, says Union Minister
BUSINESS
Antitrust watchdog CCI's ruling against Google and what it means for the smartphone ecosystem
In a set of diktats, India's antitrust watchdog has prised open Google's playbook of preserving Android’s 96 percent market share in India's 600-million strong smartphone market.
BUSINESS
CCI imposes Rs 1,338 crore penalty on Google for abusing its dominance in Android ecoystem
According to the CCI order, Google can neither force OEMs of smart devices to pre-install its own apps, nor restrict users from un-installing such apps
BUSINESS
Delhivery stock drops 14% on inflation concerns, flat festive shipments
Shipment volumes in its supply chain services and truckload businesses declined in September quarter; growth to remain moderate for rest of FY23, says company
BUSINESS
ONDC will let ‘market forces’ set commissions charged to restaurants
Eateries have to currently shell out upwards of 40 percent of the order value currently in the form of commissions and marketing fees paid to online food aggregators like Swiggy and Zomato
BUSINESS
ONDC floats consultation paper on how e-commerce transactions will be governed
ONDC has laid out the framework for e-commerce orders being processed by an interoperable network, where different network participants like buyer apps, seller apps, sellers, gateways and logistics players through ‘transaction-level’ contracts
