PAYTM BRAND
Raamdeo Agrawal on price, value & how Buffett's Berkshire Hathaway could end up with $10-20 trillion net worth
Raamdeo Agrawal of Motilal Oswal Group discusses the importance of understanding value over price for every investor and also highlights Warren Buffett's achievements and investment strategies. He praises Buffett's 20% compounded growth over decades and notes that Buffett's limited investment in India despite significant Indian contributions to Berkshire Hathaway's success.
RBI's mandate for fintech SRO; Instamart’s new CEO
The Reserve Bank of India (RBI) expects self-regulatory organisations (SROs) to safeguard consumer interest and ensure responsible growth in the fintech sector. More on this on today’s ETtech Top 5.
Ola Electric to offer products on ONDC
Bhavish Aggarwal announced on X that all products by Ola Electric will be available on the government's ONDC. He said the products can be bought on the ONDC's buyer side apps like Ola Cabs, MagicPin and Paytm.
What should investors do with Paytm stock? Vinit Bolinjkar answers
I think this dip 500 to 525 seems to be a good enough price to get in. Company has adequate growth triggers in place and the business model is absolutely robust and stood the test of time. So, we remain convinced on the growth story of this company.
You can now order food 2 days in advance on Zomato! Check details of new feature
Zomato, the leading food delivery platform, has introduced an exciting feature for its customers. Enthusiasts of good food can now schedule their orders up to two days ahead. This new option allows for advance booking from over 13,000 restaurants across Delhi, Mumbai, Chandigarh, Lucknow, Jaipur, and Bengaluru, provided the order totals more than Rs 1,000.
Top startup and tech stories this week
Welcome to a new edition of ETtech Unwrapped – our weekend newsletter packed with the most important stories from this week. Let’s take a look.
- Go To Page 1
Zomato to acquire Paytm’s movie ticketing, events biz for Rs 2,048 crore
ET reported on June 16 that Zomato is looking to acquire Paytm’s movie booking and events unit -- in a deal that may value Paytm’s vertical at around Rs 1,600-1,750 crore. Paytm also confirmed discussions regarding the potential transfer of its entertainment business in an exchange filing, saying that all discussions are preliminary and non-binding at this stage.
After raising $50 million, SaaS startup Loginext liquidates assets to US entity for $250k
Backed by Tiger Global, Steadview, logistics software-as-a-service (SaaS) company winds up and sells assets to a Delaware entity Stellation Inc, per a July 8 board resolution. Employee stock plan cancelled, options terminated, amid layoffs at the firm. Chinese ecommerce giant Alibaba and Paytm also invested in the company in its early years but sold their stakes during the 2020 fundraise.
Indian payment companies shore up talent in foreign shores to boost revenues
Indian payment companies are strengthening their presence in countries across the world. From the Middle East to the United Kingdom, Africa, and the United States, players like Juspay, Pine Labs, CCAvenue, and FSS are building domestic merchant payment systems there. In India, these merchant payment companies have been losing out on major revenue generation opportunities due to competition from UPI and RuPay debit cards.
Zomato to launch District app for dining out, events, ticketing biz
Zomato introduced a new app, District, for its going-out vertical, which includes dining, live events, and ticketing. This follows efforts to expand this business, including acquiring Paytm’s events division. The segment reported Rs 1,268 crore in the April-June quarter, a 106% rise from the previous year. Zomato aims to create 'super brands' instead of 'super apps'.
Rapido's GST hurdle; Byju’s-BCCI settlement
Ride-hailing app Rapido has been held liable to pay goods and services tax (GST) for its cab service. This and more in today’s ETtech Top 5.
Flipkart consolidates fintech offerings into single vertical ahead of festive sales
Flipkart has integrated its various fintech services into a single vertical named ‘Flipkart Pay’. This new platform includes services like UPI, bill payments, insurance, and co-branded credit cards. The move follows recent expansions and a spinoff of PhonePe. Meanwhile, Amazon is also boosting its fintech activities, creating a more competitive payments market.
Paytm launches NFC soundbox that doubles up as card payment machine
One 97 Communications, the company behind Paytm, launched a card soundbox that serves as a card payment machine and audible receipt announcer. This innovation allows small businesses to accept secure payments through NFC cards and UPI. The device offers an affordable and convenient solution for merchants to handle various payment methods using one system.
One stock or set of stocks from India's digital ecosystem. The better option? 15 stocks, 7 with upside potential more than 23%
It is an incident like the global outage of microsoft which brings different aspects of the digital ecosystem to the forefront. There is a high probability that before this global outage happened, many would have not heard the name of the company called crowd strike. Just for a moment, imagine that there is an internet shut down in metros in India. Which are companies whose real business will get impacted. Will it be a telecom service provider, Will it be a company which runs its business through a mobile app or will it be the company which provides the backend service to that app company. The answer is not as simple as it might appear to be. The digital ecosystem is making things simple but it is yet complicated when it comes to investing.
Paytm's government nod; FM on angel tax
Paytm has secured government approval for a $5.97-million investment in a key subsidiary. This and more in today’s ETtech Top 5.
Paytm partners with Axis Bank to offer POS solutions, card payment devices
Fintech firm One 97 Communications, Paytm's parent company, has teamed up with Axis Bank to provide point of sales solutions and card payment machines to banks and merchants. Paytm's EDC devices offer store management services like inventory management and CRM. The partnership aims to enhance transaction efficiency, store management, and customer engagement, benefiting both companies. Axis Bank sees this collaboration as a way to expand their merchant acquiring portfolio and offer more payment solutions.
Top startup and tech stories of the week
Welcome to a brand new edition of ETtech Unwrapped – our weekend newsletter packed with the most important stories we covered this week. Here’s a quick recap.
Be cautious, wall of money driving markets; global market-related sell-off could come: Sandip Sabharwal
Sandip Sabharwal stresses tax relief to revive consumption, essential for GDP growth, and warns of a possible market sell-off next week or next month. Aditya Birla’s competition may drop Asian Paints’ valuations. Infosys shows cautious optimism. Paytm’s future remains uncertain. Gains for Dabur and Hindustan Unilever spotlighted, alongside TTML, Godrej Consumer, and Jyothy Labs in Budget and FMCG trends with rural exposure plays.
Softbank exits Paytm at loss of around $150 million
Softbank held around 18.5 per cent stake in Paytm before the company's initial public offering (IPO) in 2021. It held a 17.3 per cent stake through SVF India Holdings (Cayman) Ltd and 1.2 per cent through SVF Panther (Cayman) Ltd.
Investors flock to new-age food brands; ecommerce sales report
Happy Wednesday! Investors are showing a strong appetite for new-age food brands, with notable investments and expansions taking place. This and more in today’s ETtech Morning Dispatch.
Paytm Bank, auditor lock horns over business viability
Paytm Payments Bank faces audit qualification disputes over viability, seeking RBI intervention. Compliance issues led to operational restrictions, prompting directions to transfer businesses. KYC guideline non-compliance has halted income generation and eroded net worth.
Vijay Shekhar Sharma breaks silence on why senior-level employees are leaving Paytm; here's what he said
One97 Communications, the parent company of Paytm, underwent layoffs in June without specifying the number affected, offering outplacement support for transitioning employees. Despite questions about senior-level departures, founder Vijay Shekhar Sharma assured that all is well. Paytm's sales team decreased by 3,500 to 36,521 personnel due to regulatory impacts from the RBI's restrictions on Paytm Payments Bank.
Koo calls it a day; Paytm Bank, auditor lock horns
Once touted as India’s response to Twitter, it’s curtains for homegrown microblogging app Koo. Details on this and more in today’s ETtech Top 5.
Wary Paytm to avoid regulated biz; Foxconn to make AI servers in India
Happy Friday! Paytm is steering clear of regulated businesses and will instead focus on building a strong distribution network. This and more in today's ETtech Morning Dispatch.
No more licensed biz, Paytm to focus on distribution model
Digital payments major Paytm wants to stay away from getting into any regulated businesses and would rather focus on building distribution heft. The senior leadership have taken a conscious call to not go after regulatory licenses but rather work with licenced entities and distribute products better.
PhonePe in talks with top smartphone brands to pre-install Indus Appstore
PhonePe launched its own Android-based app store, challenging Google's billing policy and commissions. It onboarded popular apps and gaming majors, offering zero listing and platform fees.
Stocks in news: Zomato, Paytm, HAL, Som Distilleries, Adani Enterprises, TCS
Sensex and Nifty hit new highs. NCLAT directs NCLT to re-hear APL Apollo Tubes insolvency plea. Reliance Jio's tech collaboration with TM Forum sees 80% resource increase. Police investigate child labor at Som Distilleries. Mahindra Lifespace targets sharp increase in sales. Lupin enters CDMO business. Alembic Pharma receives FDA approval.
Paytm lays off employees as part of restructuring, facilitates outplacement support
Paytm's sales employee headcount in March 2024 quarter dropped by about 3,500 to 36,521 personnel on a quarter-on-quarter basis, mainly due the impact of the Reserve Bank of India's ban on services of Paytm Payments Bank.
Adani Paytm report: Congress attacks PM Modi, says 'Paytm was Pay to Modi'
The opposition party Congress launched a blistering critique of the Prime Minister on Wednesday following reports suggesting that billionaire Adani might acquire a stake in Paytm. Following the release of the report regarding Adani and Paytm, both companies swiftly clarified their positions. One97 Communications addressed a media report on Wednesday suggesting that Gautam Adani, chairman of the Adani Group, may be contemplating acquiring a stake in Paytm's parent company, One97 Communications.
Load More
