Amazon.com agreed to pay over $80,000 (roughly Rs. 52 lakhs) in dues and fines after a delivery contractor of the online retailer failed to pay employee wages, Massachusetts’ attorney general said. The contractor, VHU Express,…
Monthly Archives For March 2016
Amazon Says Home Services Orders Grew 20 Percent per Month Since Launch
Amazon.com Inc said on Wednesday customer orders for home services like plumbing and mounting TVs had increased 20 percent per month on average since the online retailer launched the platform last year. The marketplace allows…
Spotify Raises $1 Billion in Funding: Report
Music streaming giant Spotify has raised $1 billion (roughly Rs. 6,632 crores) in convertible debt from investors, with strict conditions, the Wall Street Journal reported late Tuesday. Private-equity firm TPG, hedge fund Dragoneer Investment Group…
Reliance Jio Launch Will Elevate India in Global Internet Rankings: Ambani
Calling Jio the world’s largest startup, Reliance Industries chairman Mukesh Ambani on Wednesday said the roll-out of its 4G services will lift India from a mobile Internet ranking of 150th to the top 10 slot.…
Nasscom Says It Welcomes 100 Percent FDI in Online Marketplaces
Indian IT industry’s representative body Nasscom on Tuesday welcomed the opening up the retail e-commerce segment to 100 percent foreign equity through the clause of automatic route. “The Department of Industrial Policy and Promotion (DIPP)…
Voot Video-on-Demand Service Launched in India
Media and entertainment major Viacom18 Tuesday launched its advertising-led video-on-demand platform Voot. Voot, a 50:50 joint venture between Viacom Group and the Mukesh Ambani-led Reliance Industries, will have a large repository of original content and…
SoundCloud Expands Into Mainstream With Ad-Free Music Subscription Service
SoundCloud is entering paid music streaming, hoping to turn its huge community of cover singers, dubstep remixers and wannabe stars into a bigger source of revenue. Since its launch in 2007, the Berlin-based online music…
Amaya’s CEO Takes Leave Amid Insider Trading Probe
The chair and chief executive of the world’s largest online gaming company has stepped back from the company after being charged with insider trading and stock manipulation, Amaya announced Tuesday. David Baazov, 35, “is taking…
Xiaomi Launches Mi Water Purifier 2, Mi Router 3, and New Bluetooth Speaker
At a media event on Tuesday, Xiaomi announced its Mi Ecosystem sub-brand. The company also took the opportunity to unveil the first product in that lineup, the Mi Induction Heating Pressure Rice Cooker. At the…
Trai to Look Into Interconnection Charges for IP Networks
Telecom regulator Trai on Tuesday said it will look into interconnection charges for Internet-based networks like 4G, furthering its regulatory framework for developing new age communication systems. “We will start consultation on it (IP Interconnection)…