Softbank backed Oyo has written to its vendors and partners stating the COVID-19 outbreak and the resultant travel and social curbs have impacted its revenues, operations and cash flows ‘significantly’ and that owing to the situation there may be possible disruptions in its payment cycles. The letter written by Ankit Agarwal, head of Oyo’s procurement […]
Karnataka & Gurugram authorities allow e-comm firms to operate amid lockdown
Even as e-commerce companies failed to deliver essential goods on Tuesday, local authorities in states Karnataka and Gurugram have put in place processes to streamline the on-ground situation arising due to the nationwide lockdown. States and city authorities are talking to companies to ensure services are back online, but it could take up a few […]
Online retailers likely to resume deliveries soon
Illustration: Rahul Awasthi E-commerce companies, including BigBasket, Grofers, Amazon and Flipkart, continue to run restricted services across cities as they work with local authorities to streamline operations. While several of these e-tailers expect to resume delivery of groceries and essentials in a few days, they face a challenge of getting frontline workers back to their […]
Zomato sets up fund for delivery staff, extends Gold memberships by two months
Food-delivery and restaurant discovery app Zomato is extending its subscription-based Gold memberships by two months in India and other countries like UAE, Australia, Indonesia, Philippines, Lebanon, Turkey, New Zealand, Portugal and Qatar in the wake of Covid-19 outbreak across the world. Zomato will also be facilitating working capital loans for its Gold partner restaurants and […]
Dineout offers vouchers to aid restaurants tide over Covid-19 lockdown
Online restaurant reservation platform Dineout* has introduced “restaurant vouchers” that customers can purchase now and redeem later when the Covid-19 pandemic subsides. These restaurant vouchers can be redeemed in the next six months and Dineout will transfer the funds to the restaurants at no additional charges to ensure that restaurants continue to receive the crucial […]
MakeMyTrip top execs to draw zero salary, leadership team takes 50% paycut
Online travel firm MakeMyTrip‘s top executives Deep Kalra and Rajesh Magow have decided to draw ‘zero salary’ from April 2020, while the rest of its leadership team will take a reduction of around 50% in their compensation amid the Covid-19 outbreak. Group Executive Chairman Deep Kalra and its Group CEO Rajesh Magow have decided to […]
Zomato, Swiggy operate with minimal staffing as restaurants shutter
Illustration:Rahul Awasthi Online food delivery startups Swiggy and Zomato are working with minimal delivery partners and limited restaurant partners in several states as riders and kitchen staff have refused to step out fearing police harassment amid the Covid-19 virus induced lockdown. Kitchens have also started facing issues with procuring supplies to run operations, further pressuring […]
Demand for audio streaming spikes 42% amid lockdown
As large parts of the country go under a lockdown forcing people to stay at home, audiostreaming services such as Gaana, JioSaavn, Spotify and YouTube Music are witnessing a spike in the time that users are spending by listening to music and podcasts, shows a study. The first fortnight of March has seen a 42% […]
Facebook in talks to acquire 10% stake in Jio: Report
Facebook is said to be in negotiations to acquire a stake in Mukesh Ambani’s Reliance Jio Infocomm, the Financial Times reported, citing two people with knowledge of the matter. It said the social media giant was close to an initial agreement to pick up a 10% stake but discussions hadn’t moved forward on account of […]
Despite govt clearance, ecomm firms find it difficult to deliver essentials
Delivery of essential items such as food, groceries and medical supplies, ordered by customers from e-commerce sites, has been disrupted even after state governments exempted e-commerce services from the ongoing widespread lockdowns till March 31, prominent e-tailers told ET. “We are not operational due to restrictions imposed by local authorities on the movement of goods […]