Uber continued to lose money as it builds up its food delivery business and develops technology for driverless cars, but revenue for its rides business nearly tripled as the company picked up more passengers around the world. The ride-hailing giant lost $1.1 billion in the fourth quarter of 2019, about 24% more than the same […]
Google Maps turns 15, with new logo; Sundar Pichai thanks app for sourcing ‘veggie burrito’!
Out of all GPS trackers at our disposal, Google Maps, is perhaps not only the most commonly used but also the most reliable. Be it a visit to a nearby supermarket or a full-fledged road trip, Google Maps is that reliable friend that never leaves our side. To mark the momentous occasion of the 15th […]
WhatsApp gets NPCI nod to expand its UPI services
Facebook-owned instant messaging platform WhatsApp has received permission from the National Payments Corporation of India to expand its pilot United Payment Interface (UPI) services to 10 million users, according to Nandan Nilekani, the architect of unique identity database Aadhaar and UPI. Nikelani was speaking at an IIT Industry Conclave event on Friday. WhatsApp’s payment feature, […]
Over 4.5L card records from India uploaded on Darknet
A database containing more than 450,000 payment card details of Indian banks has been uploaded on to the darknet, Singapore-based cybersecurity company Group-IB has revealed. The entire database has 461,976 payment card records, of which 98% belong to large Indian banks, the firm said, and was uploaded on to card shop website Joker’s Stash, used […]
Activist Paul Singer builds close to $3 billion stake in SoftBank
By Scott Deveau and Sarah McBride Legendary activist investor Paul Singer is taking on one of his most high-profile targets yet: Masayoshi Son. Singer’s Elliott Management Corp. has built a stake of close to $3 billion in SoftBank Group Corp., according to people familiar with the matter. The New York-based hedge fund believes SoftBank is […]
Uber forecasts first-ever quarterly profit by end of year
By Lizette Chapman Uber Technologies Inc. said it will deliver a first-ever quarterly profit by the end of the year, signaling that cost-cutting measures are exceeding even the company’s own recent expectations. The company will become profitable, on an adjusted basis, by the fourth quarter of 2020, Dara Khosrowshahi, the chief executive officer, said on […]
Onus of content not generated by users on social media platforms
The government has added a clause to the proposed IT intermediary guidelines, making social media companies responsible for all nonuser generated content — including sponsored content — published on their platforms, according to senior government officials. The change is in line with practices in the US and Europe, and will impact platforms such as Twitter, […]
Digital payments index to assess industry potential
The Reserve Bank of India (RBI) will issue periodic scores to assess the performance of the digital payments industry on key operating parameters such as rural penetration and innovation in existing modes and channels. Called the Digital Payments Index (DPI), the ‘composite’ scoring system will allow both consumers and stakeholders to better gauge local area […]
Surprised to find Maharashtra as the second highest user of Hindi on Amazon India: Amit Agarwal
Speaking at IAMAI’s 14th India Digital Summit, Amazon India head Amit Agarwal talked about various factors that are helping India achieve the $5 trillion economy. His address veered to many topics from digital literacy, to the growth of Artificial Intelligence in the country. He lauded the ‘Bharat Bhasha’ project that IAMAI is working on, which […]
Ecomm predatory pricing complaints being examined: Piyush Goyal
Commerce and industry minister Piyush Goyal on Wednesday said the government is examining representations regarding allegations about some ecommerce companies engaging in predatory pricing and excessive discounts. “Representations have been received in this department (DPIIT) alleging that some ecommerce platforms are engaged in predatory pricing and are providing excessive discounts….These representations are under examination,” Goyal […]