Axis Bank buys FreeCharge for USD 60 Million

Snapdeal is finally selling off FreeCharge, its mobile transactions platform, to private sector Axis Bank. The bank said in a communication to the Bombay Stock Exchange that it has entered into a share purchase agreement with Jasper Infotech Private Ltd, Snapdeal parent, to acquire 100 percent equity in FreeCharge for a consideration of Rs 385 crore.

Bored Of Zomato, Foodpanda? UberEATS Launched In India

On-demand technology-based cab hailing services firm Uber launched UberEATS – a food delivery service similar to foodpanda, Swiggy and Zomato– on Tuesday to tap what it claims is an $15 billion unorganised sector in India.

Uber Bites Into Tough-Nut-To-Crack Food Delivery Market

Cab-hailing giant Uber has entered the $15-billion food delivery market in India even as multiple startups shut shop and existing ventures such as Swiggy, Zomato and Foodpanda continue to bleed.

Investors Keep A Close Watch As Mu Sigma Founder-couple Splits

Even as investors at Mu Sigma keep a close watch on the recent developments within the company, there is a possibility of bringing in professional mangers at the helm of affairs.

The Real Reasons Behind Indian Startups Shutting Down

In April, on-demand grocery delivery service PepperTap shut shop. Recently, online beauty services provider Amber Wellness, which was operating in Bangalore, New Delhi and Mumbai, closed down.

But these are not isolated cases. In 2015, around 13 startups closed operations. And others, such as food technology startups TinyOwl and Zomato, scaled down last year. Between the two companies, more than 400 people lost their jobs last year.

Truecaller to expand presence in India

India, which is the largest market for the app, has about 80 million users of Truecaller. Truecaller, a caller identification app launched by Stockholm-based True Software Scandinavia AB, expects to double its user base globally to 300 million, with half the users expected to be in India, by the year’s end, chief executive and co-founder Alan Mamedi said on Tuesday.

True Caller to expand presence in India

India, which is the largest market for the app, has about 80 million users of Truecaller. Truecaller, a caller identification app launched by Stockholm-based True Software Scandinavia AB, expects to double its user base globally to 300 million, with half the users expected to be in India, by the year’s end, chief executive and co-founder Alan Mamedi said on Tuesday.

India eCommerce Warzone: Six cut-throat skirmishes underway between global giants & Indian top dogs

Amazon, America’s largest etailer, began as an online bookstore in 1994. Two years before Jeff Bezos pored through the dictionary and picked out the world’s biggest river as his brand name, lesser known (at least as of today) Charles M Stack founded books.com. Today, Stack’s online stores (also known as Book Stacks Unlimited) will be difficult to locate — they were gobbled up by Barnes & Noble over 15 years ago.