ZOMATO PREMIER LEAGUE
Zomato in talks to acquire Paytm's movies, ticketing business; deal pegged at around Rs 2,000 crore
Zomato’s interest in acquiring Paytm's events and movie ticketing business is in line with the Gurgaon-based company's efforts towards capturing consumer demand across categories like food, grocery and entertainment. If the transaction goes through, it will be the second biggest acquisition for Zomato after it acquired quick commerce platform Blinkit in 2022 in an all-stock deal for Rs 4,447 crore.
Food delivery companies lean on existing users for growth
In light of a slowdown in new user signups, Zomato and Swiggy are implementing strategies to increase order frequency among their existing customer base. This approach aims to drive growth despite the challenges in user acquisition.
Online platforms take to gamification to boost user engagement
For instance, Linkedin says 72% of its surveyed users said playing games such as Pinpoint, Crossclimb, Queens etc. Zomato on the other hand seems to have perfected the art of customer conversions with its Zomato Premier League (ZPL). The gamification strategy is where hyper-casual, tap-and-play games are used to engage customers, speed up sales and enhance revenue.
NPCI pushing new UPI players to offer incentives to expand market share
NPCI encourages new UPI apps to invest for user growth. Uncertainty looms over market share deadline extensions, hindering significant capital investment by smaller players like Cred amid concerns about reducing market leaders' share.
India consumer firms gear up to cash in on a sizzling summer
India expects 10 to 20 heatwave days, which it describes as temperatures hitting at least 40 degree Celsius in the plains, from April through June this year, versus the normal four to eight days. Temperatures have already crossed 40 degrees in a few cities in western Maharashtra and Gujarat.
Live entertainment, sports becoming favourites for the youth, says BookMyShow CEO Ashish Hemrajani
On the second day of Startup Mahakumbh in New Delhi, Hemrajani said, “Roti kapada makan is done, discerning people have got the money. Now they're focusing on outside of science and maths. They are focusing on art, they are focusing on music, they are focusing on sport."
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Food-delivery firms saw orders spike to 6.5 million on New Year’s Eve: Redseer report
Food-delivery platforms saw a surge in orders on New Year's Eve 2023, with 6.5 million orders placed, an 18% rise from the previous year. According to market research firm Redseer, the gross merchandise value (GMV) was significantly higher, reaching 2.5-3x the daily average at night.
As ICC Cricket World Cup begins, stock pickers glued to new investing mantra
Cricket World Cup is by far the largest cricketing event in India with about 330 hours of gameplay which is higher than even the Indian Premier League (IPL). The last edition, held in 2019, saw 750 million unique viewers and 14 billion hours of total viewing time.
The Pai-and-Kamath way to startup investing; and other top tech stories this week
Bluestone is only the latest in the list of investments by Pai and Kamath, but this marks the growing pace at which they are signing new cheques at a time mid-to-large scale startups are finding it hard to score new funding.
Goldman may part-convert Pharmeasy debt to equity; P2P lenders look to diversify partnerships
Goldman Sachs is likely to convert some of its loan to online pharmacy PharmEasy into equity. Buoyed by binding commitments from existing investors, the epharnacy also plans to pay back a considerable chunk of its debt following the rights issue in September. This and more in today’s ETtech Morning Dispatch.
For volatile markets: 5 largecap stocks from different sectors with upside potential of up to 40%
The equity markets globally, both emerging and developed have moved into a correction mode. How long this correction continues is anyone's guess. In such times it would be better for both traders and investors to stay with stocks which have shown tendency to fall less in a bearish market. ET screener powered by Refinitiv’s Stock Report Plus applies different algorithms & filters to all BSE and NSE stocks, and lists stocks which fulfill the various criteria as specified into the algorithms & filters to find those which might help navigate the stock market.
India Inc walks the extra mile to keep employees healthy
The addition of a chief fitness officer to the Zomato leadership reflects a growing commitment at India Inc — taking the health and fitness levels of employees very seriously.
For volatile markets; 4 largecap stocks from different sectors with upside potential of up to 27 %
On wednesday, global markets were rattled by downgrade of US paper by Fitch. In line with other global markets, How long this correction continues is anyone guess. But what is under the control of an investor is to stay with stocks which have shown tendency to fall less in a bearish market. ET screener powered by Refinitiv’s Stock Report Plus applies different algorithms & filters to all BSE and NSE stocks, and lists stocks which fulfill the various criteria as specified into the algorithms & filters to find those which might help navigate the stock market.
ETtech Exclusive: Tiger trail at Flipkart ends with $3.5 billion profits; fund sells remaining stake to Walmart
The US fund exits online retailer with a 4% stake sale to Walmart in final deal of phased selloff.
SoftBank sheds another 2% in Paytm; will approach GST Council on 28% tax once gaming rules in place: Chandrasekhar
In May, SoftBank had sold a 2.07% stake in Paytm through open market transactions that began in February. Prior to the latest transaction, SoftBank held around 11% in the Noida-headquartered fintech company.
Byju’s troubles mount as board members, auditor Deloitte resign; Tata Digital rejigs top brass
On Thursday evening ETtech first broke the story of three of Byju’s key board members resigning. Soon after Deloitte, the edtech’s statutory auditor, too, resigned citing delay in furnishing the company’s financial results. This and more in a super packed Friday edition of ETtech Morning Dispatch.
Lenskart bags $100 million from ChrysCapital; CCI challenges parts of NCLAT order on Google
After having secured $500 million from Abu Dhabi Investment Authority (ADIA), the Gulf Sovereign wealth fund (SWF) in March, eyewear startup Lenskart has now raised another $100 million from private equity fund ChrysCapital as it aims to expand to more markets.
Food-delivery firms Zomato, Swiggy clock only 7% growth in biz during IPL: report
With consumer internet firms chasing profitability, the spends on marketing for online food delivery platforms like Zomato and Swiggy were lower compared to previous editions of the Indian Premier League.
ETtech Scoop: Tiger Global in talks to invest in Rajasthan Royals, valuing it at $650 million
Rajasthan Royals’ parent entity Emerging Media, is owned by UK-based Manoj Badale who holds more than 60% in the franchise and had bagged the rights in 2008.
AI video startup Gan.ai raises $5.25 million
Emergent Ventures and other angel investors participated in the round.
ONDC vs Zomato, Swiggy; WestBridge closes in on Milky Mist funding
Happy Monday. We are kicking off the week with a packed edition of ETtech Morning Dispatch. You can’t have missed all those social media posts talking about the government-backed Open Network for Digital Commerce (ONDC) over the last few days. ONDC is looking to challenge food-delivery biggies Swiggy and Zomato through a price war. We have details on what’s going on.
IPL 2023: Virat Kohli fan brings Delhi's special 'Chole Bhature' in Bengaluru
In a sweet gesture, a fan brought 'Dilli ke chole bhature' for Virat Kohli at RCB Hotel in Bengaluru.
ETtech Interview: Zerodha's Nithin Kamath on profits, market volatility & correction; venture funding gains momentum in generative AI sector
India’s largest stock broker Zerodha’s founder & CEO Nithin Kamath expects the firm's revenue and profits to expand by one-fifth in the year ended March 31, 2023. But if recessionary trends and market volatility, triggered by geopolitical instability continue, the company’s revenue could fall 40% by the end of FY24, Kamath told ET.
Tech earnings a mixed bag in Q3 & other big stories this week
Most of the listed tech companies have seen stock valuations halve as investors dumped them in favour of established businesses.
Tech’s biggest losers in 2022
What’s different this time is the companies getting battered are market leaders in their categories, not recent upstarts looking to cash in on the next big thing.
Startup dreamers return to IT firms after layoffs; Zomato reports Rs 360 crore net loss in Q4
IT firms have been battling record attrition of late, so startups’ loss is their gain.
Another gaming unicorn; GST for Swiggy and Zomato?
Mobile Premier League is the 26th Indian startup unicorn of 2021—and the second homegrown gaming startup to cross the $1 billion valuation mark.
Zomato, Swiggy get notices from Google for violating Play Store norms
"Yes, we have received a notice from Google. We believe that the notice is unfair, but we are a small company and have already realigned our business strategy to comply with Google's guidelines," a Zomato spokesperson said in an e-mailed response.
IPL 2020: Advertisers, sponsors to showcase firms that thrived among pandemic
E-commerce operators like Myntra and BigBaskets are voting with their wallets this IPL. Myntra is making its IPL debut as a sponsor of the Royal Challengers Bangalore (RCB) and Mumbai Indians (MI) franchisees, while online grocer BigBasket has come on board this year as a sponsor for Rajasthan Royals (RR), according to the websites of the teams.
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