An investigation by India’s antitrust body found food delivery giants Zomato and SoftBank-backed Swiggy breached competition laws, with their business practices favouring select restaurants listed on their platforms, documents show. Zomato entered into “exclusivity contracts” with partners in return for lower commissions, while Swiggy guaranteed business growth to certain players…
Zomato said on Wednesday it will acquire the movie and events ticketing businesses of digital payments firm Paytm for $244.2 million (roughly Rs. 2,049 crore) as the food delivery platform looks to beef up its fast-growing ticketing business. The acquisition bolsters Zomato’s presence in India’s online ticketing market for movies…
Chinese payments group Alipay plans to sell its 3.4 percent stake in Indian food delivery giant Zomato for nearly $400 million (nearly Rs. 3,333 crore) through block deals on Indian stock exchanges, according to three sources and a Reuters review of the deal’s term sheet. Alipay, owned by Ant Group,…
Swiggy, the Softbank-backed food delivery company, is eyeing a 2024 stock market listing and has initiated talks with bankers to assess its valuation, after halting the process for months due to weak markets, three sources with direct knowledge of the matter said. Swiggy, which delivers food from restaurants and also…
E-bike rental startup Yulu, which is looking to go public, expects to turn operationally profitable by September and plans to expand its presence in India and abroad, its chief executive said. The startup, which currently operates in Bengaluru, Delhi and Mumbai, will venture into cities including Hyderabad, Pune, Chennai, Kolkata…
The government has taken a serious note of ‘dark patterns’ and asked e-commerce firms to create a self-regulatory framework to stop such practices, Consumer Affairs Secretary Rohit Singh on Tuesday said. The e-commerce sector has the largest contribution to dark patterns, and the framework will be created in the next…
Electric vehicles energy infrastructure and services provider SUN Mobility on Monday said it has entered into a partnership with online food delivery platform Zomato to power 50,000 electric two-wheelers of the latter’s fleet over the next two years. Under the partnership, SUN Mobility will provide its battery swap solutions for…
Zypp Electric said on Wednesday it has raised $25 million (nearly 206 crore) in a series B funding round led by Taiwanese battery-swapping service provider Gogoro, as the Indian electric vehicle startup looks to expand to new cities and boost its fleet size. The funding round marks Gogoro’s latest effort to…
Amazon, one of the biggest e-commerce websites in India, is reportedly shutting down its food delivery business in December in the country. While Amazon’s food delivery business has not been as successful as Swiggy or Zomato, the announcement comes as a surprise has the company has recently decided to put…
Blinkit, a quick product delivery firm, has now partnered with Unicorn to deliver iPhone 14. The e-commerce firm announced the new collaboration with Apple reseller Unicorn on Friday. However, the iPhone 14 delivery will be currently limited to Delhi and Mumbai. In India, the sale for newly launched iPhone 14…
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