Representative image By Katie Roof and Spencer Soper Amazon is in talks to buy driverless vehicle startup Zoox, according to people familiar with the matter, a deal that would accelerate the e-commerce giant’s automation efforts. Other companies in the automotive and chip industries have also held talks with Zoox about a potential investment, the people […]

Ola Electric has acquired Amsterdam-based electric scooter manufacturer Etergo as it looks to launch its own two-wheelers globally next year. These scooters will be manufactured in India. While Ola did not disclose the deal value, Etergo has raised about $23.3 million to date from German automakers and through crowdfunding. “The future of mobility is electric, […]

By Baiju Kalesh, Anto Antony and P R Sanjai Reliance Industries is working with banks on early preparations for an overseas listing of its digital and wireless business, people with knowledge of the matter said, after the unit attracted more than $10 billion of investment in a month. The conglomerate backed by Mukesh Ambani, Asia’s […]

Happy Tuesday! The disruptions caused by the Covid-19 pandemic have forced many companies to downsize operations. Shared mobility major Uber laid off a fourth of its workforce in India on Tuesday. The job cuts are part of the global retrenchment exercise announced by the ride-hailing app last week. With large parts of the world shut […]

Warner Music Group said on Tuesday it is aiming to sell up to $1.82 billion in stock in its U.S. initial public offering, potentially the largest New York IPO so far in 2020 as the market for new stocks rebounds after the Covid-19 pandemic put many debuts on hold. Warner Music, the world’s third-largest recording […]

OlaFinancial Services has picked up about Rs 205 crore from investment fund Falcon Edge and venture firm Matrix Partners as part of its first institutional financing round, regulatory filings show. Apoletto Managers, the and Arun Sarin’s family office also participated in the round. This deal closed at a valuation of $250 million, according to two […]

“This was by far the biggest fight in the creator ecosystem, not just in India, but globally. No one had seen anything like this before.” These are words of a popular YouTube creator, whose stint on Google’s video platform, goes back to its early days in India. Amid a global pandemic, it all blew up. […]

Food ordering apps Swiggy and Zomato have started home delivery of alcohol in Odisha, days after first launching the service in Jharkhand. While both companies have begun liquor delivery in Bhubaneswar, other cities including Rourkela, Balasore, Balangir, Sambalpur, Berhampur and Cuttack are next in line. The central government’s move to allow sale of liquor during […]

Uber has laid off 600 people or a fourth of its 2,600 workforce in India across levels and teams on Tuesday. The ride-hailing app confirmed the development. The layoffs come a week after homegrown rival Ola slashed its headcount by a third, affecting 1,400 employees. “Maximum employees in the core mobility and head office have […]

Chinese food delivery giant Meituan Dianping posted a smaller-than-expected fall in revenue on Monday after its business was hit by nationwide virus curbs but cautioned that the pandemic would continue to have an impact. After three consecutive profitable quarters, the company said the loss for the first quarter ended March 31 was 1.58 billion yuan […]