Zomato, Swiggy, UberEats reduce discounts as food delivery market grows coldAcross the sector, monthly growth fell to 1-2% between Aug and Oct, hurt by a slowdown in consumer spending, cut in discounts and promotions. - Funding winter is coming, DSG warns its firmsIn an email, VC firm’s MD warns founders to tighten belts as the economy continues to contract resulting in consumers spending less.
- Nazara plans 20 startup bets in 2020Nazara Technologies plans to shortlist 20 technology-based gaming companies in which it will acquire strategic stake. These companies will primarily be based in India, chief executive Manish Agarwal said.
- Nykaa pushes offline in Tier 2, shows rising orders from beyond metrosBeauty is a fast-growing category and ecommerce companies like Amazon, Flipkart and Myntra have realised that Indian customers are far more open to trying out products online. For Nykaa, it was all about giving customers access to brands they typically wouldn’t get in their towns.
- On path to making profit this year: FreshMenuFreshMenu founder Rashmi Daga said the company had also managed to rationalise shipping costs, which had been one of the major spends for the startup.
- CDPQ to bet big on Piramal’s $750-million fundraise planThe PEL board is meeting on Friday to approve the fundraising.
- Gold hasn’t lost shine: Zomato CEO Deepinder GoyalThe Zomato CEO said the number of establishments registered on Gold has increased about 6% since August.
- Uber lays off 350 people, under 10% based in IndiaThese terminations will impact all of Uber’s businesses in the country, including uberEats
- Hotstar rejigs team ahead of Disney+ launchDisney+ is the streaming service that the Los Angeles-based media giant is set to launch in the United States and Canada in November.
- Vahan.ai to scale up with funds from Khosla Ventures, othersFounder Madhav Krishna said Vahan has 1.4 million users, and claimed it had helped 25,000 of them find blue-collared jobs.
- TikTok, TikTok…the clock is ticking on the question whether ByteDance pays creatorsByteDance defends these practices as being part of what it calls "standard marketing practices".
- Game on as etailers take the field to keep users engaged Amazon has introduced games and contests to make customers engage with the platform better.
- SoftBank may shelve plan to invest in Piramal GroupThe $1 bn deal would have resulted in the group’s housing finance division becoming a separate company.
- Swiggy, Dunzo open doors to dark stores to go hyperlocalSwiggy and Dunzo have tied up with wholesalers for the first, while they have teamed up with Jumbotail for the second.
- Lower discounts, economic slump take toll: Click-wait for ecommerce as consumers put off buysSpending on online shopping sites is down by a fifth in first half of 2019, says Kantar report.
- Myntra eyes video, kirana storesMyntra is planning to acquire and retain customers in small towns by focusing on videos.
- Swiggy may cap its share at 25% of the total billMove to benefit small business owners, who do not have the leverage to seal better deals.
- Restaurant body’s knives still out for ZomatoAfter a new Zomato move, food aggregators' logjam with restaurant owners has only deepened.
- NRAI sees dark clouds over Swiggy's kitchen hubsThe National Restaurant Association of India (NRAI) conveyed this in a letter earlier this week, and comes after it clashed with rival food delivery app Zomato over its discount and membership programmes.
- Zomato CEO Deepinder Goyal logs out of talks with restaurantsWhile Zomato boss Goyal says he’s done talking, restaurants too have vowed to stay logged out.
- Zomato tweaks its Gold programme, but restaurants still refuse to biteNRAI said restaurants would not come back until ‘deep discounting’ is off the table.
- Food aggregators, including Zomato, to log out of deep discountsZomato also told restaurants it would roll back fines proposed to be levied on them for delaying orders.
- Grofers says on track to hit Rs 550 crore monthly GMVData shows that most of Grofers’ orders are coming from less-affluent neighbhourhoods across the country.
- Ant Financial may set terms for Zomato’s $500 million roundKey stakeholder may push food-delivery firm to forge a closer relationship with its portfolio company Paytm.
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