A Gurgaon court has restrained Club Factory and one of its employees from sharing, divulging, using or utilising Snapdeal‘s trade secrets, financial data and confidential information. Civil Judge Suyasha Jawa also directed Club Factory and its employee, who earlier worked for Snapdeal, to refrain from using Snapdeal’s trade secrets in approaching, contacting, soliciting, enticing, inducing […]
E-payments industry counts the costs after zero MDR jolt
The year 2019 was an important one for the growth of digital payments in India. In October, Unified Payments Interface (UPI), the country’s instant payment system, clocked up over 1 billion transactions for the first time. Since then, it has done so every month. Its growing popularity has benefited home-grown startups such as Paytm and […]
Netflix introduces offer for new users: Pay just Rs 5 for the first month
Netflix is reportedly testing a new introductory offer whereby subscribers need to pay only Rs 5 for the first month. Old users will not be able to avail this offer. An obvious attempt to entice new users into taking out a subscription, Netflix, rolled out this plan to some users on February 21. The company […]
Paytm founder Vijay Shekhar Sharma reveals road to profitability; may take 2 years to come out of red
Vijay Shekhar Sharma Digitial payment giant Paytm expects to turn profitable after two years as it is monetising the existing customer base and eyes financial services as its next major frontier for growth, its founder CEO Vijay Shekhar Sharma said. Noida-based firm, which had an astonishing rise after infamous demonetisation in 2016, is betting on […]
E-commerce companies seek more time for 1% TDS levy
E-commerce companies have sought more time to implement a government proposal to levy a new tax, although they have, in principle, agreed to its imposition. The ecommerce entities, including Amazon.com and Walmart-owned homegrown etailer Flipkart, have said they need time to upgrade IT systems in order to enable them to collect the 1% tax deduction […]
Govt wants social media firms to axe ‘skull-breaker’ videos
The government has asked social media platforms TikTok, YouTube, Twitter, Facebook and ShareChat to take down videos of what is known as the ‘skull breaker’ challenge, which has resulted in serious head injuries among students across the globe. The social media challenge, popularised first on short video app TikTok, starts with three people standing alongside […]
The rise of self-improvement & productivity apps, hacks
Manas Saloi is obsessed with productivity. “I’m always trying to make the most of my time,” says the 28-year-old from Bengaluru over a WhatsApp call, while pacing up and down his room to keep the step count going. A product manager at the tech company Gojek, his work requires him to create a goal-setting framework […]
Elon Musk’s SpaceX aims to raise $250M, to hit $36B in valuation
Elon Musk-run SpaceX is aiming to raise around $250 million in new funding that would bring the rocket launch company’s valuation to $36 billion. The fundraising comes as SpaceX continues development on three important programmes: Crew Dragon, Starlink and Starship, reports CNBC. The company raised $1.33 billion during 2019 and has raised more than $3 […]
Lyft buys digital car-top advertising startup Halo Cars
Lyft Inc has bought U.S.-based startup Halo Cars, which allows drivers to make money through digital advertisements displayed on top of their vehicles. The deal, first reported by Axios, was confirmed by the ride-hailing company on Friday. Lyft did not comment on the financing of the deal. Halo Cars was founded in 2018 and has […]
Amazon removing products that claim to cure coronavirus
E-commerce giant Amazon has warned sellers that it is removing listings for products from the platform that claim to cure the novel coronavirus. With the coronavirus spreading to over two dozen countries and the overall death toll in mainland China surpassing 2,000, fighting misinformation about the virus has become a major challenge. On top of […]