In no particular order, here are MediaNama’s top 10 stories of the week ended 7th August 2016
MediaNama would like to thank its sponsors: Citrus, HP, Info Edge, Spiral, Times Internet and E2E for their support.
– AskMe won’t be able to pay employees until Astro buyout happens
AskMe does not have the money to pay its employees their salaries for July, Manav Sethi, Group CMO & head of digital strategy at AskMe Group, told MediaNama. The company is waiting for money to come in from Malaysian media and telecom company Astro, which, according to AskMe, was supposed to be paid by 31 July. Read it here.
– Paytm claims 100K movie tickets a day; Big Bazaar integration
Paytm has been used to book over 100,000 movie tickets a day in 4 months since its launch. As of now, the platform lists over 2250 screens where tickets can be booked online, and plans to increase this number to 3000 soon. Note that competitor BookMyShow said that it sold over 30 million tickets (all tickets, not just movies) in Q1 FY17 compared to 22 million in the same quarter last year, registering a growth of 38%. Read it here.
– The GST will not be kind to telecom companies at all
The Goods and Services Tax Constitutional Amendment Bill was passed in Parliament late yesterday and while it might take some time for the full implementation and the government is yet to decide the rate it will impose. However, a reports from PriceWaterhouseCooper and the SKP Group point out that the GST will broadly have a negative impact on the telecom sector. Read it here.
– How the implementation of GST will change ecommerce
The Goods and Services Tax (GST) Constitutional Amendment Bill was passed in Parliament late yesterday and ecommerce companies have widely hailed the move which will bring significant clarity and cut excessive taxation. The GST is a uniform indirect tax which is levied on goods and services across the country. Read it here.
– With 60% growth, ecommerce is Gati’s fastest growing division
Gati’s ecommerce revenues for the year ended March 2016 stood at Rs 207.8 crore, growing 63.1% from the previous year’s Rs 127.4 crore. Gati mentioned in its annual report that this is currently their fastest growing segment and the number of packages handled has grown in excess of 70% compared with last year. Read it here.
– 9Apps now offers shopping aggregation on Android app
Alibaba owned UCWeb’s Android app store 9Apps will now offer ecommerce shopping aggregation on its app. Users of the app will also be able to compare prices from Paytm, Flipkart, Myntra, Snapdeal, Jabong, Askmebazar, Voonik and Shopclues. It will also offer discounts and coupon codes in a separate section. Read it here.
– Flipkart denies layoffs, but says underperformers “encouraged to seek opportunities outside”
In an emailed statement to MediaNama, Flipkart denied “allegations of a layoff,” instead, going on a defensive about its ‘transparent evaluation process’ which allows it to identify employees who meet and do not meet its performance standards. The company says that it underperformers were “encouraged to seek opportunities outside”, and that this was a regular yearly exercise in which 1% of the workforce would be affected. Full statement below. Read it here.
– Flatchat’s status: offices shutdown, employees quit, app seems inactive
Classifieds company Quikr has shutdown offices of CommonFloor-owned roommate finder and home rental app, Flatchat. A spokesperson from the company has confirmed this development with MediaNama and said that “we have consolidated all our assets after our (CommonFloor) acquisitions. Flatchat is merged with our messaging service Quikr Nxt”. Read it here.
– Indiatimes Shopping is being rationalized, says Times Internet
Times Internet* is taking yet another look at its ecommerce business, Indiatimes Shopping, and for the time being, appears to have stopping allowing customers to shop via the website. In a statement, Times Internet told MediaNama that it is “rationalizing” its ecommerce business, and aligning it with the Times of India brand, where avenues of commerce are being explored. Read it here.
– Updated: Uber sells China biz to competitor Didi Chuxing
Update: Uber has put out a blog post saying that it is merging its Uber China business into Didi Chuxing. Uber does not mention the financial details of the transaction, nor if Uber will remain a standalone app and business or be merged into Didi Chuxing. Read it here.