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Top 10 stories of the week: May 29th to June 4th 2017

In no particular order, here are MediaNama’s top 10 stories of the week ended 4th June 2017

MediaNama would like to thank its sponsors: E2E for their support.

Info Edge net sales up 9.6% YoY to Rs 223.8 crore for March quarter

Internet company Info Edge, which owns Naukri.com, Jeevansathi, 99Acres, Shiksha.com, among others, has reported a net profit of Rs 32.86 crore for the quarter ended March 2017 (Q4 FY17). On a sequential basis, net profit was down 30.24% from Rs 47.1 crore but on a year-on-year basis, Info Edge’s net profit was down 15.57% from Rs 38.92 crore. Read it here

RCOM’s losses up 82% QoQ at Rs 966 crore in Q4FY17

Update: Anil Ambani-led Reliance Communication (RCOM) lost 3.7 million mobile Internet subscribers during the quarter ended March 2017 (Q4-FY17): the company reported 28.3 million mobile Internet connections for the quarter, down 13% Quarter-on-Quarter (QoQ) from 32 million connections in Q3-FY17. Read it here

Swiggy raises $80 million from Naspers in Series E funding

Swiggy, the online food ordering and delivery platform, has raised $80 million in Series E funding led by global internet and entertainment group Naspers, along with participation from existing investors Accel India, SAIF Partners India, Bessemer Venture Partners, Harmony Partners and Norwest Venture Partners. Ashutosh Sharma, head of investments in India for Naspers will join the Swiggy Board, the company said in a statement. Read it here

Grofers re-starts operations in five out of six cities it had shut shop in

Online grocery delivery startup Grofers has restarted operations in five out of the six cities it had shut operations last year. The company had shut operations in Ludhiana, Bhubaneshwar, Bhopal, Cochin, Vizag, Nagpur for a year. Currently, service is back in all these cities except Vizag. Read it here

Will settle Rs 25,000Cr debt to investors post Aircel & Brookfield deal: RCOM

Anil Ambani led Reliance Communications seems to be one of the biggest casualty of Jio’s freebies. After RCOM posted a third quarterly dip in its subscriber base and revenues in Q4FY17, it put out a statement to investors and lenders promising them to repay around Rs 25,000 crore in unsettled debt by 30th September 2017 after its two business deals—Aircel merger and Brookfield tower sale—gets completed. Read it here

Infibeam net profit soars to Rs 13.6 crore for March quarter; RemitGuru investment

Ecommmerce company Infibeam’s net profit zoomed 489% year-on-year for the quarter ended March 2017 (Q4 FY17). The company posted net profit of Rs 13.6 crore compared to Rs 2.3 crore in the same period last year. For the full financial year, Infibeam posted a net profit of Rs 43.5 crore compared to Rs 8.8 crore last year, a growth of 396%. Read it here

51% of Domino’s delivery sales were online sales in Q4 FY17

Jubilant Foodworks, the company which operates Domino’s Pizza and Dunkin Donuts in India, reported (pdf) that online ordering contributed 51% to delivery sales for the quarter ended March 31, 2017 (Q4 FY17). Read it here

Mary Meeker Report 2017: Data costs fall in India, and demonetization leads increase in digital spending

Mary Meeker’s highly awaited annual Internet trends report is out, and it shows significant movement due to Jio, so much so that it is adjusting for its impact in slides where it tracks mobile data prices in India. Moreover, it measured global growth in Internet penetration “ex-India” this year, presumably because the rapid pace of adoption may skew international figures. Read it here

TRAI wants telcos to advertise data packs in ‘nutrition label format’

India’s telecom regulator TRAI asks in a consultation paper whether telcos and ISPs should be mandatorily disclosing network performance indicators to consumers such as latency, average speeds, peak time speeds, etc., similar to US regulator FCC’s ‘Broadband Facts’ label. The consultation paper titled “Data Speeds Under Wireless Broadband Plan” looks at various issues like minimum speeds, disclosures to users regarding tariff plans, methods to audit Internet speeds offered by mobile service providers, and revision on mandatory QoS parameters. Read it here

YouTube updates ad policy to prevent monetization of hateful content

YouTube has updated its advertising policy for content creators to prevent content with hate messages or discrimination of any type from featuring ads and monetizing the content. This is an update on the initial set of guidelines YouTube had announced in March this year. Read it here

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    © 2008-2018 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ