If the merger goes through, Zomato and UberEats may emerge as the biggest by number of orders and size ahead of Swiggy in a hotly contested and cash-intensive online food delivery market.
Across the sector, monthly growth fell to 1-2% between Aug and Oct, hurt by a slowdown in consumer spending, cut in discounts and promotions.
In an email, VC firm’s MD warns founders to tighten belts as the economy continues to contract resulting in consumers spending less.
Nazara 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.
Beauty 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.
FreshMenu founder Rashmi Daga said the company had also managed to rationalise shipping costs, which had been one of the major spends for the startup.
The PEL board is meeting on Friday to approve the fundraising.
The Zomato CEO said the number of establishments registered on Gold has increased about 6% since August.
These terminations will impact all of Uber’s businesses in the country, including uberEats
Disney+ is the streaming service that the Los Angeles-based media giant is set to launch in the United States and Canada in November.
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