On today’s brief we report that Amazon might buy BigBasket, Flipkart plans mega app, Amazon’s new office & more stories.
1. Flipkart plans to roll out the one app to rule them all
India’s largest online marketplace Flipkart wants to be an ‘everything app’ that customers can tap into for ordering food, hailing a cab, planning a vacation, or buying daily essentials.
The company has begun talks to partner with food, cab and travel aggregators for its app-of-apps that it plans to rollout by the end of this year. A mega app of this sort, Flipkart expects, will allow it to boost customer loyalty while also monetising the huge volumes of customer data it has access to and adding channels of revenue. Executed by Flipkart’s app design and engineering team, the strategy, initiated by new chief executive Kalyan Krishnamurthy, would complement the company’s advertisi ..
2. Amazon said to be in talks to buy BigBasket
Amazon.com Inc. is in preliminary talks to buy the online grocery site BigBasket, as the American e-commerce firm steps up efforts to gain ground in the fast-growing market, according to people familiar with the matter.
The discussions are at an early stage and may not lead to a sale, the people said, asking not to be identified as the negotiations are private. BigBasket, run by SuperMarket Grocery Supplies Pvt, is India’s largest online grocery firm and operates in about 25 cities across the country.
3. Airbnb to invest in branding to capture Indian market over 2 years
Alternative accommodations company Airbnb has signed a memorandum of understanding with the tourism ministry of Maharashtra as the official alternative accommodation partner for the state as it looks to further penetrate the brand and expand its network of homestays in India.
The partnership is significant as it marks the company’s first revenue-sharing agreement with a state government, in this case, Maharashtra Tourism Development Corporation (MTDC). The agreement will see Airbnb sharing a small portion of its booking revenue in Maharashtra with MTDC.
4. HyperTrack raises $7 million from Nexus Venture, Founders Fund
HyperTrack, a start-up that helps businesses track products and people in real time, has raised $7 million in a Series A round from venture capital firms Nexus Venture Partners and Founders Fund.
HyperTrack was founded in October 2015 by Kashyap Deorah, a serial entrepreneur and the author of The Golden Tap, a book on Indian start-ups, and Tapan Pandita, who together pooled in $300,000 to launch the venture.
5. Amazon Charters 6 Lakh Sq. Ft. Office Space In Hyderabad
Amazon India has leased 6 Lakh sq. ft. under construction property in Madhapur suburb of Hyderabad. Reportedly, this is one of the largest office space deals this year. The deal was closed last week.
According to a person close to the development, the office space will be rented in two phases. In the first phase, 250K sq. ft. space will be occupied. Amazon will further have the option to extend it to 6 Lakh sq. ft. over next one and a half year. “Amazon will be paying a rent of INR 54 per sq. ft.. The facility will get ready by December,” he added.
6. Tata Motors Owned Jaguar Land Rover Bets $25 Mn On Uber Rival Lyft
Targeting the futuristic self-driving cars industry, Tata Motors subsidiary Jaguar Land Rover has invested $25 Mn in the US-based ride-sharing service and Uber rival Lyft. The investment has been reportedly done through Jaguar Land Rover’s mobility services business InMotion Ventures.
Tata Motors’ Inmotion Ventures invests in high-growth companies in the mobility and smart transportation sector. Its portfolio includes companies like GoKid, Sheprd, SPLT, Synaptiv, and toBoot.