Tag: india
Facebook’s $5.7 billion bet on Indian giant Jio spells trouble for Amazon and Flipkart
Facebook’s major bet on Jio Platforms could create a headache for mobile payments services that have amassed tens of millions of users while struggling to find a business model in the world’s second-largest internet market. The $5.7 billion investment, Facebook’s second-largest to date, could also further its dominance in India…
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Facebook buys 9.9 percent of India’s biggest mobile network
Facebook is buying a 9.99 percent stake in Jio Platforms, the Indian telecoms giant owned by India’s richest man, Mukesh Ambani. Jio, a subsidiary of Reliance Industries, has conquered much of the subcontinent’s telecoms market with aggressively low… Source
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To avoid hostile takeovers amid COVID-19, India mandates approvals on Chinese investments
Chinese investors, who have poured about $6 billion into Indian startups in the last two years, will be subjected to strict regulation for their future investments in the world’s second largest internet market. India amended its foreign direct investment policy on Saturday to include China in the list of neighboring…
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Uber pulls back from operating profit target
Uber is walking back its guidance for what was supposed to be a milestone year for the ride-hailing company that included reaching an operating profit by the last quarter. Uber said Thursday it was withdrawing its 2020 guidance for gross bookings, adjusted net revenue, and adjusted EBITDA, which were provided…
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India’s FarEye raises $25M to grow its logistics SaaS startup in international markets
More than 150 e-commerce and delivery companies globally use an Indian logistics startup’s service to work out the optimum way before they ship items to their customers. That startup, Noida-based FarEye, has raised $25 million in a new financing round as it looks to expand its footprint in international markets.…
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Disney+ Hotstar has about 8 million subscribers
We finally know just about how many subscribers Hotstar has amassed over the years in India. “Approximately 8 million.” Disney said on Wednesday that its eponymous streaming service has hit 50 million subscribers, nearly 8 million of whom are in India, where it launched its service atop of Hotstar this…
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