BUSINESS
Zomato board rejects EY valuation that priced its shares lower for Blinkit deal
This decision of the company’s board effectively means that Blinkit shareholders will get fewer Zomato shares in the Rs 4,447 crore ($570 million) share swap deal
BUSINESS
IT Rules amendments: There will be multiple Grievance Appellate Committees, says Rajeev Chandrasekhar
The government is also open to the idea to the creation of self regulatory body by the industry, which Chandrasekhar said should address appeals made on decisions of grievance officers' of intermediaries effectively
BUSINESS
Tiger Global cuts stake in Zomato by almost half; sells 18 crore shares in a week
Tiger Global investment vehicle Internet Fund IV held a 5.11 percent stake in Zomato before the lock-in ended. Its shareholding has now reduced to 2.77 percent
BUSINESS
SEBI asks Zomato to clarify 'Eternal' restructuring
This is the second time that SEBI has sought clarification from Zomato regarding a C-suite reshuffle, the first being when it did not disclose co-founder Gaurav Gupta’s departure last year
BUSINESS
Complicated data protection bill would have hurt startups: Rajeev Chandrasekhar
Rajeev Chandrasekhar reiterated that the withdrawal of the bill doesn't change anything about data privacy in India.
BUSINESS
No plan yet to have e-commerce regulator, minister tells Parliament
Several trader bodies have called for a policy with India’s e-commerce market is poised to rise to $111.4 billion by 2025 from $46.2 billion in 2020
BUSINESS
Paytm vs PhonePe: Merchant sound device may be at heart of feud
Fintech unicorns have discovered that the offline merchant has to be first won over with a speaker that announces the payment has been received
BUSINESS
Second founder Bhavik Koladiya quits BharatPe, months after Ashneer Grover's exit
Bhavik Koladiya used to oversee fintech unicorn's product and tech functions
BUSINESS
Nothing to hide: Zomato CEO on relationship between chief people officer and Blinkit founder
Zomato CEO Deepinder Goyal says that rigorous and detailed due diligence, deliberations, and negotiations were done before agreeing to the terms of the $570 million transaction
BUSINESS
Zomato says food delivery segment has broken even in Q1
Adjusted EBITDA loss of food delivery segment drops from Rs 80 crore in March quarter to zero in June quarter
BUSINESS
PhonePe alleges mass burning of QR codes by Paytm employees, approaches police authorities
A Paytm spokesperson said that the employees involved in the burning of the QR codes have been suspended by the company, pending investigation.
BUSINESS
IPO market for India tech startups still nascent: Lightspeed’s Bejul Somaia
Somaia talks about plans for the new $500-million fund, exit opportunities, and the 70% cash-burn reduction at portfolio company Udaan, among other things
BUSINESS
Zomato moving to multiple-CEO structure, will call organisation Eternal: founder Deepinder Goyal
To be sure, sources said this was one of the many ideas that Goyal has been floating on the company's Slack channel and one cannot be sure if it will be implemented. But the messaging gives a peek into Goyal's thinking as Zomato increasingly wants to model itself after Info Edge
BUSINESS
How Domino’s India plans to steal Swiggy, Zomato’s lunch money
Domnino's new loyalty programme includes food aggregators as point of entry, but benefits can be availed only on its own assets
BUSINESS
Stock-based pay of Paytm’s key managers surged 50 times in FY22
Paytm’s first annual report after its listing also shows that stock-based compensation of the 'key managerial personnel' was more than 55X of cash-based remuneration in FY22
BUSINESS
Zomato allots 4.66 crore shares to employees at Re 1 apiece amid sell-off
ESOPs given to Zomato co-founder and CEO Deepinder Goyal had cost the company Rs 387 crore in the second half of FY22
BUSINESS
Zomato pre-IPO investor Moore sells off 4.25 crore shares in block deal at a loss
Moore Strategic Ventures has booked a loss of around Rs 4 crore on the investment
BUSINESS
Zomato and Swiggy start restaurant dine-in pilots in Hyderabad, but eateries are jittery
Called Zomato Pay and Swiggy Diners, respectively, the new dine-in programmes are offering flat discounts of as much as 25 percent in a bid to lure consumers
BUSINESS
After pausing Pro Plus in May, Zomato trying to make loyalty programme more dine-in focussed
Once launched, the new version of Zomato's loyalty programme will be its fourth iteration in the last couple of years
BUSINESS
Prakash Sikaria, head of Flipkart's Shopsy vertical, quits company
Flipkart has set a GMV target of $1.5 billion for Shopsy alone by the end of 2022
BUSINESS
Apple, Microsoft, Netflix among big tech bunch asked to attend India antitrust hearings
On July 21, the committee conducted a hearing that was attended by top executives of eight domestic tech firms, including Paytm founder Vijay Shekhar Sharma and OYO founder Ritesh Agarwal
BUSINESS
OYO marketing boss Rohit Kapoor quits, to join Swiggy as food delivery CEO
Kapoor had been the CEO of Oyo India & Southeast Asia before taking up the role of global CMO at the hotel aggregation platform earlier this year
BUSINESS
Startups created 7.68 lakh jobs in India in last 6 years, with Maharashtra taking the lead
Maharashtra topped with more than 1.46 lakh jobs, with Karnataka, which houses the tech hub of Bengaluru, a distant second with more than 1.03 lakh jobs. Maharashtra also beat Karnataka when it comes to the number of startups registered in a state
BUSINESS
Mamaearth hikes prices by 3-4 percent, but won't suffer shrinkflation
Unicorn skincare brand says it is trying to hold back on raising prices as far as possible through more cost efficient formulations, offering value packs
