One of the biggest Indian startup news stories of the week was that an Amazon delivery boy and employee were arrested for cheating. Amazon employee and a former delivery executive would collect items scheduled for return before authorised personnel could pick up the product and steal them. Amazon Indian employee would allegedly provide the accused with details of customers who wished to return their products.
Also, US-based footwear brand Skechers has been offered an out-of-court settlement by the walmart-backed company Flipkart. Flipkart has offered some cash payment and a commitment to do a certain amount of business for Skechers as an offer to settle out of court. In December 2017, Skechers had accused Flipkart and four of its sellers of selling fake ‘Skechers’ products
Important Indian Startup News Stories Of The Week
Ecommerce Companies Under Audit For Excess Tax Collection
The GST Anti-Profiteering Authority has ordered an audit of major ecommerce companies including Flipkart and Amazon India. The exercise aims to examine whether the online retail companies have refunded the excess GST collected from the consumers. This development comes in line with the change in rates by GST Council on over 200 items of daily use.
Treebo Lays Off 10% Of Its Workforce
Hospitality company Treebo has announced that the company has laid off about 10% of its 800-strong workforce which round offs to 70-80 employees. The layoffs are in line with the company’s efforts to double down on its technology products and processes and it further looks to rationalise its costs. The management has offered two months’ salary as a severance package to the laid-off employees.
Paytm To Launch In Japan, Takes Stand On Data Localisation And More
- SoftBank and Paytm have collaborated together to launch a mobile digital payments service in Japan by the end of 2018. The new digital payments system will use artificial intelligence (AI) extensively to offer mobile payments and other financial services. Paytm will be able to expand its portfolio to add financial services such as lending, insurance, and others.
- Paytm is collaborating with PayPay, SoftBank and Yahoo Japan’s newly launched digital payments company. PayPay aims to leverage Paytm’s technology and expertise in mobile payments. The services will be launched in fall of 2018.
- Paytm is building its new office campus in Sector 137 along Noida Expressway, Uttar Pradesh which will be spread across 10 acres. The new office will serve as Paytm’s headquarters and will become the axis of its increased sales of operations. It will also be offering world-class facilities and equipments and will accommodate over 15K employees.
- Paytm has also asked Indian government to push for storage of customer data within the country and not allowing mirroring of the data overseas. This development comes at a time when the deadline for data protection is approaching and TRAI has already introduced its recommendations for data protection.
Flipkart Creates Alliance With Hotstar, Shuts Down eBay.in And More
- Flipkart has created an alliance with video streaming service Hotstar to launch a video advertising platform named Shopper Audience Network. The launch is a part of the broader strategy of Flipkart to generate more revenue from the booming video advertising business.
- Walmart has opened up its second fulfilment centre in Lucknow to pace up its wholesale operations in the country. The fulfilment centre is a new format of Walmart’s best price cash-and-carry store model that will focus on FMCG products and staples and will not stock fresh food or electronics.
- Flipkart has decided to shut down eBay.in with plans to launch its own platform to sell refurbished goods. Flipkart believes that the new platform will have a different value proposition compared to its portfolio operations and will cater to a different target audience.
- Flipkart is now preparing for its Big Billions Days sale in October and plans to increase its total headcount of delivery and warehousing executives to 100K. This development has come when Flipkart is aiming to triple ist sales to $176 Bn by 2021.
- Also, a recent report being put to test during the recently conducted sales of Amazon and Flipkart has revealed that the Indian retail ecommerce sales will increase to 31% and will reach to $32.7 Bn in 2018.
Other Indian Startup News Of The Week
Govt Of India Asks Social Media Platforms To Take Action Against Fake Messages
The Indian government has asked every social medium stages to make incite move against counterfeit messages, including following their root. It has additionally kept in touch with the Central Bureau of Investigation (CBI) to ask into Cambridge Analytica case. The middle has likewise requested that media stages work with Indian government authorities to get grievances continuously.
Money down Is Illegal For Ecommerce Companies, Says RBI
RBI has said that the aggregators/installment middle people like Amazon and Flipkart are not approved under Section 8 of the PSS (Payments and Settlements Systems) Act 2007. The RBI has additionally said that if internet business firms have been gathering money down for the benefit of shippers without its authorisation, at that point there must be a hazy area in the law they are abusing.
NeoStencil Collaborates With RedCarpet
Edutech organization NeoStencil has gone into a MOU with RedCarpet to offer budgetary guides to understudies planning for premium government occupations. The coordinated effort will bolster understudies who need to begin adapting immediately yet need choices to return the educational cost charge over a day and age. The pre-back alternative is a critical move to support understudies buying in on its stage for planning of various government examination and occupations.
Udacity Announces 200% Y-o-Y Growth
Udacity has declared 200% income development in their India business from 2016 to 2017. This development was driven on the back of localisation of courses for the Indian understudies and redid answers for big business customers. Udacity has officially accomplished more than double the undertaking business income of 2017. It has likewise banded together with IT mammoths like Infosys, Wipro, and new age organizations like Myntra and Flipkart.
NPCI Announces To Block Same Account UPI Transactions
The declaration will be successful from August 1. Such exchanges would be hindered in the UPI focal framework and has additionally asked installment specialist organizations and banks to square such exchanges at their end. By doing this, the NPCI needs to stop exchanges that don’t serve any known utilize case.
IRCTC To Help Startups And Increase Amount Charge From OTAs
The Indian Railway Catering and Tourism Corporation (IRCTC) has expanded the sum it charges from online travel aggregators (OTAs) for enabling them to offer railroad tickets on their stages It has additionally loose a portion of its standards with a view to empowering littler players and new businesses to offer rail line ticket booking administrations.
India Wants To Work With BRICS Nations: PM Modi
Head administrator Narendra Modi, while tending to the BRICS Summit, has declared that India needs to work with the BRICS countries on the Fourth Industrial Revolution. He has likewise called for sharing the prescribed procedures and strategies in the region. Further, he said that mechanical developments can enable upgrade to benefit conveyance and profitability levels.
PayU Launches New Platform For SMBs
PayU has propelled PayU to bring the nation’s little and medium organizations (SMBs) to the advanced standard. The new stage will permit disconnected organizations to make their online character by having their own business page where they can acknowledge a wide range of computerized installments straightforwardly into their ledger. It will likewise offer 100% online KYC.
B2BAdda.com Integrates New Product Categories And Services
B2BAdda.com has reported mix of new item classes and administrations on its stage. It will include extra administrations like corporate gifting, dinner cards, gift vouchers, and promoting to its B2B clients in relationship with different accomplices. The organization intends to add more than 80K retailers to its stage before the finish of 2020.
FSSAI Asks To Debar FBOs Without A License
The Food Safety and Standards Authority of India (FSSAI) has asked 10 online nourishment conveyance stages to suspend sustenance business administrators (FBOs) that don’t have a permit got from the controller. The request was issued after a progression of dissensions identified with sub-standard sustenance being provided by nourishment organizations recorded on the stages had expanded. The request likewise came so the FBOs recorded on the stage conform to the nourishment wellbeing principles and controls.
MeitY Seeks For More Details On Whatsapp Pay, Launch Gets Delayed
The dispatch of Whatsapp Pay has been additionally deferred as the service of hardware and data innovation (MeitY) is looking for more subtle elements. The service has asked Whatsapp and its accomplice banks to supply more subtle elements on the installments framework. It has likewise solicited the National Payments Corporation from India (NPCI) to affirm whether Whatsapp is completely consistent with its prerequisites.
Shopmatic Launches In UAE And Partners With Network International
Global internet business organization Shopmatic has propelled in UAE to support UAE’s web based business part by carefully empowering the nation’s SMEs. The organization has joined forces with Network International to use the quality of the two associations to become the online business scene in UAE. System International will utilize Shopmatic’s innovation to control its new web based business stage Go-Online.
Housejoy And NestAway Partner To Repair NestAway Properties
Housejoy and NestAway have declared an association to repair and renovate old NestAway properties. Housejoy will give administrations going from upkeep and home repairs to pipes, electrical administrations, home cleaning and carpentry benefits in urban communities like Bengaluru, Hyderabad, Delhi, Mumbai, and Pune.
POPxo Ventures Into Ecommerce Market
New Delhi-based computerized media startup POPxo has wandered into online business with its private name stock. The site will incorporate items, for example, mugs, workstation sacks, canvas pockets, and tote packs among others. The startup has so far raised $11 Mn financing from speculators, for example, IDG Ventures India, Kalaari Capital, and others. It intends to offer very much estimated, a la mode items that can engage ladies.
Information Protection Bill Draft To Weaken RTI, Promotes Aadhaar
The draft of the Data Protection Bill debilitates the RTI Act yet keeps up a great part of business as usual of Aadhaar Act. It likewise fortifies the Unique Identification Authority of India’s (UIDAI) control with regards to Aadhaar related lawful activity by keeping up that no one but UIDAI can approach courts in the event of any Aadhaar question.
Wibmo Inc Launches Trident RBA System
Wibmo Inc has reported the dispatch of Trident hazard based confirmation framework in accordance with advertise requirements for frictionless installments. Trident RBA will utilize bits of knowledge into shoppers conduct and past installment attributes to convey both secure and consistent installment experience to buyers.
OYO Hotel Signs MOU With SBI Bank and Bank Of Baroda
OYO Hotels has marked a MOU with SBI Bank and Bank of Baroda to offer budgetary fillip for little lodgings. It has marked a MOU to stretch out its help to spending inns and to make employments crosswise over levels. The MOUs will empower monetary help for OYO’s current and potential inn accomplices for powering change and institutionalization at their properties. They will likewise be supporting miniaturized scale business people and produce more occupations.
Author Of iStream Launches Studio Mojo
Previous CEO of iStream, Radhakrishnan Ramachandran has propelled Studio Mojo to take advantage of the quickly developing territorial video amusement showcase. Studio Mojo will be seeking after a multi-prong way to deal with provide food both long and short configuration content and will be make short arrangement content for stages, for example, Youtube, Facebook, Twitter, and Instagram. It will likewise be authorizing territorial dialect substance to Telcos, IPTV players and OTT players.
SQUATS To Open Over 120 Centers In India By 2020
Online wellness discussion stage SQUATS is set to dispatch more than 10 eating routine and health focuses crosswise over Mumbai, Delhi, Hyderabad, Raipur, and Bengaluru. The point behind jump start is to contact the individuals who incline toward eye to eye advising. It additionally intends to open more than 120 eating routine and health focuses crosswise over India by 2020.
Ixigo Partners With Xiaomi For Travel Information Services
Ixigo has reported its organization with Xiaomi after which prepare voyagers will now have the capacity to check the PNR status of their prepare appointments on their Xiaomi cell phones, even without downloading the ixigo application. The clients of Xiaomi India will have the capacity to review the ixigo gadget on the short 1 screen of their Xiaomi cell phones.