New Delhi: Paytm, the brand owned by One97 Communications, has acquired Orbgen Technologies, the entity that operates Chennai-based online ticketing platform TicketNew. Sources put the deal size at around $40 million. Last year TicketNew raised Rs 1.2 billion from Chinese e-commerce giant Alibaba.
Uber cut its losses almost in half and its ride bookings jumped 51 per cent since one year ago, the Silicon Valley ride-services firm said on Wednesday, showing that months of scandal and retreating from overseas markets have not slowed its business.
The finance ministry has joined hands with over two dozen e-commerce firms, including major players like Amazon, Flipkart, Ola and Uber, to provide easy finance to small entrepreneurs under the Pradhan Mantri Mudra Yojana (PMMY), a top government official said.
Marks & Spencer Group owned up to its mistakes, saying it needs to close more stores and catch up to rivals in e-commerce as Chairman Archie Norman tries to pull the UK retailer out of a crisis that has dragged on for more than a decade.
Top executives of Walmart India and Flipkart on Wednesday met fair trade regulator CCI to explain their activities in the country, days after submitting an application seeking approval for their USD 16-billion mega-merger deal.
Tata Consultancy Services (TCS) CEO and MD Rajesh Gopinathan’s remuneration in FY18 was 212 times compared to the median remuneration of TCS employees in the financial year. Among the executive and non-executive directors of the company, as disclosed in the annual report, COO N Ganapathy Subramanium came second highest at almost 180 times that of…
Faced with new questions about whether it’s a monopoly, Facebook Inc. is making a bold argument: owning so many communications platforms helps keep users safe.
Indian cab-hailing firm Ola on Tuesday said it has expanded its services in Australia to three more cities – Brisbane, Gold Coast and Canberra.
This is with reference to “For Amazon, deal with Flipkart was a non-starter, and how” (May 21). I wish to congratulate Nivedita Mookerji on her brilliant reporting. The story makes eminent sense as it suggests a very creative strategy on part of Amazon, which is consistent with the history of the firm and more so,…
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 $4 billion.