Ebay has agreed to sell its classified ads business to Norwegian group Adevinta in a deal worth $9.2 billion, creating the world’s largest classifieds group, the companies said on Tuesday. Ebay will receive $2.5 billion in cash and 540 million shares of Adevinta, making it the largest shareholder with a 44% stake of the pro […]

Right from literacy, accessibility to schools and household expenditure on education, the rural-urban gap remains significant. There is a digital divide, too, with just 4% of the rural households having access to computers as compared to 23% in urban areas. These and other trends on rural-urban gap in education are revealed in the details of […]

The government will make it mandatory for every e-commerce company to acknowledge consumer complaints in 48 hours and redress them in a month, food, public distribution and consumer affairs minister Ram Vilas Paswan said on Monday. The new rules, finalised in consultation with the Department for Promotion of Industry and Internal Trade, will be notified […]

Shoppers can expect their life to get easier with the new Consumer Protection Rules of 2020 for e-commerce which says platforms can’t charge cancellation fees if a consumer chooses to cancel an order after confirming the purchase. Otherwise, e-tailers should also pay similar charges, if they cancel the purchase order unilaterally for any reason, according […]

Image Credit: Ng Han Guan Ant Group, the fintech arm of Chinese e-commerce giant Alibaba Group Holding, said it has started the process of a dual listing in Hong Kong and on Shanghai’s Nasdaq-style Star Market, kicking off one of the world’s most hotly anticipated IPOs. Ant is the world’s most valuable tech “unicorn” – […]

Union minister Nitin Gadkari has urged ecommerce giant Amazon to handhold small Indian businesses on its platform and guide them on marketing and global consumer preferences. “I need your cooperation. Particularly the rural, agricultural, tribal areas, 115 aspirational districts – we need to take them into the mainstream of our economy,” Gadkari, minister for MSMEs, […]

Illustration: Rahul Awasthi Fintech lenders are struggling to raise low-cost debt, even as demand for credit is gradually reviving. The reason: banks have increased risk premiums due to stress on their books amid the Covid-19 pandemic and a lack of clarity over whether a moratorium on loans would be extended. Capital Float, Lendingkart, Zest Money […]

Amazon’s India operations crossed another key milestone, accelerated by the lockdown restrictions around the world. Meanwhile, Facebook is striking deals to strengthen its music library in India although the social networking giant is witnessing cutbacks from its largest advertiser in the United States. Amazon India‘s export milestone Amazon India’s total cumulative exports from the India […]

Facebook has signed a music licensing deal with the Indian Performing Rights Society (IPRS) to strengthen its music library across its social networking platform and Instagram. The IPRS is a representative body of authors and owners, which include composers, lyricists, and owner publishers of music. While the terms of the deal were not disclosed, the […]

EBay is in advanced talks to sell its classified-ads unit to Norwegian group Adevinta as the online auction pioneer seeks to refocus on its core marketplace business, the Wall Street Journal reported on Monday. The price of the cash-and-stock deal was not disclosed, but the eBay unit is expected to sell for roughly $8 billion […]