Ola appoints Ben Legg as managing director of UK operations
Cab hailing company Ola today said it has appointed Ben Legg as managing director of its UK operations. Earlier this month, Ola had said it has obtained licences to operate in Greater Manchester and...
View ArticleSoftBank partners Paytm to launch payments service in Japan
SoftBank Group Corp today said it will launch a digital payments service in Japan, and has partnered Paytm for the service. The service PayPay will be launched by SoftBank’s joint venture PayPay...
View ArticleFacebook wants to launch own internet satellite in 2019: Report
As part of its plan to connect billions of people who are still offline, Facebook is working on launching Athena, its own Internet satellite, early in 2019, the WIRED reported. According to an...
View ArticlePaytm receives final tranche from $445 million funding from SoftBank, Alibaba
Paytm Mall has received the final tranche of its USD 445 million (about Rs 3,000 crore) funding from SoftBank and Alibaba, a move that will give the online shopping venture of Paytm more financial...
View ArticlePaytm crosses $29 billion in gross transactions run rate
New Delhi, May 31 (PTI) Digital payments major Paytm today said it has crossed an annual gross transaction run-rate of USD 29 billion, driven by growth across mobile payments and bank transfers through...
View ArticleSoftBank confirms selling ‘entire stake’ in Flipkart to Walmart
Japan’s SoftBank has decided to sell its over 20 per cent stake in e-commerce major Flipkart to US retailer Walmart for an estimated USD 4 billion. “SoftBank confirms the sale of its entire stake in...
View ArticlePaytm to invest Rs 5,000 cr towards growing e-transactions
Digital payments major Paytm today said it will invest Rs 5,000 crore over the next three years as it looks to enhance bank transfer and other payments facilities for customers through its platform....
View ArticleSoftBank CEO Masayoshi Son confirms Walmart buying India e-tailer Flipkart
US retail giant Walmart will buy a majority stake in India’s largest e-commerce company Flipkart, according to the head of SoftBank, a major stakeholder in the Indian firm. “Last night, (they) reached...
View Article‘Flipkart founders may be liable for 20% capital gains tax after stake sale...
Flipkart founders Sachin and Binny Bansal may have to pay 20 per cent capital gains tax if they sell their shares in the company as part of the proposed deal with US retail giant Walmart, say tax...
View ArticleFlipkart undertakes $350 million buyback ahead of Walmart deal
Moving closer to its deal with Walmart, e-commerce major Flipkart has bought back over 1.8 million shares worth more than USD 350 million from minority investors, as per information filed by Flipkart...
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Flipkart board approves Walmart’s offer to acquire 75 percent of the...
The acquisition of Flipkart has been a long-drawn out saga that has kept the Indian e-commerce space on edge, but it seems that a deal has finally been finalized. The front-runner for the acquisition,...
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Amazon has made a formal bid to buy a 60 percent stake in Flipkart: Reports
While Walmart was earlier believed to be the front-runner to buy a controlling stake and take over Indian e-commerce player Flipkart, the latest reports might change that idea. According to a report by...
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Flipkart-Walmart: Key investors agree to sell stake, except SoftBank
As Flipkart‘s big deal with Walmart is nearing, key investors in the e-commerce company have reportedly agreed to sell off their stakes, except SoftBank which is said to be waiting for a better offer....
View ArticleOla to add 10,000 electric vehicles in next 12 months
SoftBank-backed cab aggregator Ola today said it plans to add 10,000 electric vehicles, a majority being e-rickshaws, to its platform over the next 12 months as part of its ‘Mission Electric’...
View ArticleOla expands in Australia, begins service in Melbourne
Indian cab hailing firm Ola today said it has started operations in Melbourne, expanding its services in the Australian market. In February, the company had kick-started its services in Australia with...
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Uber launches new, rebuilt app for drivers
Uber has today announced a completely refurbished app for its driver partners, which it says has been made “for and with drivers”. Uber says that the new app is aimed at providing a simpler and more...
View ArticlePaytm Mall gets unicorn status with Rs 2,900 crore funding from SoftBank,...
Paytm Mall has raised close to Rs 2,900 crore from SoftBank Investment Holdings and Alibaba.com Singapore e-commerce in a deal that values the online shopping venture of Paytm at $2 billion. About $400...
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Uber and Ola merger could happen soon
A merger between Uber and Ola in India could be on the cards, as the rivals in the Indian taxi aggregation space are said to be in talks for a possible merger. Japan’s Softbank, a common investor in...
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SoftBank confirms Qualcomm Snapdragon 855 Fusion Platform with 5G-capable modem
Smartphones running the newest Qualcomm Snapdragon 845 SoC are still under the process of hitting the market, and we already have details about the next-in-line Snapdragon X50. SoftBank, in its...
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Flipkart losses surge to Rs 8,771 crore in FY 17 even as overall revenue...
Flipkart Group’s losses surged by 68 percent to Rs 8,771 crore in the financial year ending March 2017 as the e-commerce giant continued to spend heavily to maintain its lead over Amazon in India....
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