In no particular order, here are MediaNama’s top 10 stories of the week ended 06th May 2018
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Reliance Jio reports Rs 510 crore profit for Q4 FY18, has 186.6 million subscribers
Reliance Jio Infocomm Limited (Jio) reported a net profit of Rs 510 crore for the quarter ended March 31, 2018 (Q4 FY18). Its operating revenue for the period stood at Rs 7,128 crore, while its EBITDA for the quarter stood at Rs 2,694 crore. In the previous quarter, the company had posted a slightly lower profit of Rs 504 crores, with an operating revenue of Rs 6,879 crore and EBITA of Rs 2,628 crore. Read it here
Idea Money wallet base down 65.23% QoQ to 4.53 million
Idea Money, Idea Cellular’s prepaid wallet service, reported a drastic decline in its wallet base to 4.53 million at the end of March 2018, declining 58.85% year on year (down 6.48 million), and 65.23% quarter on quarter (down 8.5 million). There seems to have been some significant culling of the wallet base: probably inactive users being weeded out. Read it here
WhatsApp founder exits Facebook after clashes over privacy issues, UPI integration a bone of contention
The chief executive and co-founder of WhatsApp, Jan Koum, the Facebook-owned messaging app, is leaving the company over disagreements about privacy and encryption. According to a report in the Washington Post, Koum’s decision is based on Facebook’s attempts to access personal data of users from the popular messaging service and weaken its encryption. Koum will also step down from Facebook’s board of directors, a role he negotiated when WhatsApp was acquired by the social media giant for $19 billion in 2014. Read it here
Researcher who sold data to Cambridge Analytica, had bought access to Twitter data also
Twitter sold public data access to Aleksandr Kogan, the Cambridge University academic who also obtained millions of Facebook users’ information that was later passed to a political consulting firm without the users’ consent. Twitter confirmed the development first to UK newspaper the Telegraph (link behind paywall). Read it here
HT Media net profit up 194% YoY for Q4FY18, print still accounts for majority revenue
HT Media reported a net profit of Rs 75 crore for the quarter ended March 31, 2018 (Q4 FY18), up 194% from Rs 25.5 crore in the same quarter last year, and down 40% from Rs 124.3 crore in the previous quarter. The decline in ad revenue did, however, have an impact on operating revenues for the quarter, which declined marginally, by 4.1% on a year-on-year (YoY) basis, to Rs 561 crore from Rs 585 crore. Read it here
Aadhaar no longer mandatory for Mobile SIMs
The government has issued instructions to telecom operators to accept other valid forms of identification such as passport, driving licence and Voter ID, the Times of India reports. Telecom secretary Aruna Sundararajan said telecom operators have been asked to follow the instructions immediately. Read it here
Cambridge Analytica shuts down, successor company Emerdata on the way?
British political consulting firm Cambridge Analytica, which prompted Facebook data breach storm, is now closing and starting insolvency proceedings, it announced on its website. It said that the elections division of Cambridge’s British affiliate, SCL Group, will also shut down. Read it here
UIDAI denies reports of Aadhaar Enrolment Software being tampered
The official Twitter handle of UIDAI has posted a series of tweets as a press statement categorically denying reports of the ECMP Aadhaar Enrolment Software being tampered and sold in underground markets. The tweets of the press release, edited lightly into readable paragraphs are as follows:
Press Statement: UIDAI completely dismisses few reports in social media and online news channels about Aadhaar Enrolment Software being allegedly tampered and sold for some money in underground market which purportedly bypasses operators biometric authentication and facilitates making of Aadhaar cards without any documents, as totally baseless, false, misleading, and irresponsible. Read it here
Flipkart buys back shares worth $350 million, goes private; ahead of rumored sale
E-commerce giant Flipkart has reportedly bought back shares worth $350 million from investors in its Singapore-based parent to regain private limited status in the country. This move comes amid speculations of a possible acquisition of the company by US retail major Walmart. Read it here
Users can now book an Ola ride from Mobikwik’s app
Payments company MobiKwik has announced a partnership with cab-hailing company Ola, which will allow users to book an Ola ride within the Mobikwik app.
Mobikwik users will have access to all transport categories available on Ola app, like Auto, Micro, Mini Prime, SUV etc. Users can also directly pay via MobiKwik wallet for the rides. The feature is currently available only for the Android users. Read it here