A decade after allowing Amazon to start what would become India’s largest online marketplace, Flipkart co-founder Sachin Bansal appealed for government protection against his former employer.
If Snapdeal follows the rule of the game, the company would deny any kind of merger talks with rival Paytm, or with investor Alibaba, unless a deal is concluded, at least verbally.
China’s internet giant, the Jack Ma-controlled Alibaba, might soon start competing with Amazon and Flipkart in India as it eyes new markets to hit Ma’s target of two billion users.
Alibaba, which posted quarterly revenue of $4.84 billion on Thursday, has initiated discussions with Vijay Shekhar Sharma-owned Paytm to either fully acquire or own a sizable share in the latter’s marketplace business, Paytm Mall.
Tim Cook started his India tour with an obeisance to Lord Ganesha, the favourite deity of those in trouble, at Mumbai’s Siddhivinayak temple. Cook did not put all his faith in religion alone, he also leaned on India’s other obsessions. The same day, he met the crew of Azhar, a movie loosely based on — talking of obsessions — the life of former cricketer Mohammad Azharuddin.