The Paris-headquartered firm is counting on working closely with global technology startups across the world, including in India, as it looks to increase engagement with its clients seeking to make their businesses more tech-savvy.
The firm has roped in Ashutosh Sharma, who till recently was with the India team of Silicon Valley-based venture capital firm Norwest, to lead investments and merger and acquisitions in the country.
Demonetisation impacts daily operations as cos like Flipkart & Zomato accept cash for 60-70% of orders; some working on alternatives to make doorstep payments.
The market for logistics-technology businesses, which include delivery startups, truck aggregators and warehousing firms, is expected to surge from $1.4 billion in 2015.
While Softbank mentioned Snapdeal and Ola specifically in the write off, it did not mention other India portfolio companies like hotel booking platform Oyo, grocery delivery app Grofers and real estate classifieds player Housing.
Paytm’s phone recharge, utility bill payment and online retail arms are billion-dollar businesses already, in terms of annualised revenue.
While Uber has also objected to the government charging Rs 50 lakh per 1,000 vehicles for a cab aggregator, the state government may not change the stipulation.
The move comes as Zomato looks to raise a new funding round after significantly increasing its net revenue and cutting burn rate over the past 12 months.
Amazon India conducted its festival season sales in three phases during October. The company said it sold more than 15 million units in the first phase of its Great Indian Sale, a three-fold increase over its five-day sales event last year.
This is the biggest operating loss that Amazon's international business has reported in its history, according to company filings reviewed by ET.
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