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May 8, 2015

Alibaba in talks to buy $1.2 billion stake in Micromax – sources

MUMBAI (Reuters) – Alibaba Group Holding (BABA.N: Quote, Profile, Research, Stock Buzz) is in talks with Micromax Informatics to buy an about 20 percent stake in the smartphone maker, helping the Chinese e-commerce giant expand in one of the world’s fastest growing markets for the devices, several people with direct knowledge of the matter said.

The deal, if completed, would see Alibaba investing as much as $1.2 billion in Micromax, the second-largest smartphone brand in India by sales, at up to $6 billion, two of the people said. India is the world’s third largest smartphone market and was the fastest growing in the Asia Pacific region in the third quarter of last year, according to industry research firm International Data Corporation.

May 8, 2015

Alibaba in talks to buy $1.2 bln stake in India phone maker Micromax-sources

MUMBAI, May 8 (Reuters) – Alibaba Group Holding is
in talks with India’s Micromax Informatics (IPO-MINF.NS: Quote, Profile, Research, Stock Buzz) to buy
an about 20 percent stake in the smartphone maker, helping the
Chinese e-commerce giant expand in one of the world’s fastest
growing markets for the devices, several people with direct
knowledge of the matter said.

The deal, if completed, would see Alibaba investing as much
as $1.2 billion in Micromax, the second-largest smartphone brand
in India by sales, at up to $6 billion, two of the people said.
India is the world’s third largest smartphone market and was the
fastest growing in the Asia Pacific region in the third quarter
of last year, according to industry research firm International
Data Corporation.

May 7, 2015

India’s e-commerce giant Flipkart in no rush to go public

BENGALURU, India (Reuters) – India’s biggest e-commerce firm Flipkart will remain private for the next three years at least, its chief financial officer said, nixing speculation that it would launch this year an IPO that some bankers had expected to raise a record $5 billion.

Flipkart, an online marketplace that analysts estimate to be worth $11 billion, has benefited from the foreign funds that have sloshed into India’s rapidly growing online retail sector.

May 7, 2015

Interview – E-commerce giant Flipkart in no rush to go public

BENGALURU (Reuters) – India’s biggest e-commerce firm Flipkart will remain private for the next three years at least, its chief financial officer said, nixing speculation that it would launch this year an IPO that some bankers had expected to raise a record $5 billion.

Flipkart, an online marketplace that analysts estimate to be worth $11 billion, has benefited from the foreign funds that have sloshed into India’s rapidly growing online retail sector.

May 4, 2015

Facebook opens Internet.org to developers amid open web debate in India

MUMBAI, May 4 (Reuters) – Facebook Inc opened up its
Internet.org platform to new websites and applications from
developers on Monday, a move the social media giant said would
boost efforts to get people online in low-income and rural areas
in emerging markets.

However, the decision drew criticism from some online
activists in India who expressed concern over Facebook’s control
over all data accessed on the service and said it violated the
principles of an open web.

May 4, 2015

Facebook launches open Internet.org platform amid net neutrality debate in India

MUMBAI (Reuters) – Facebook Inc is launching an open platform for online content and application developers to join its Internet.org service, in a move the social media giant said would boost efforts to get people online in low-income and rural areas in emerging markets.

The platform, unveiled on Monday, will be open to all developers who meet certain guidelines, including content being built for browsing on both feature and smartphones and in limited bandwidth scenarios, the company said in a statement.

Apr 30, 2015

Free medical for in-laws helps Indian tech start-ups woo talent back from America

MUMBAI, May 1 (Reuters) – After losing top engineering
talent for years to America’s tech heartland of Silicon Valley,
India is luring them back as an e-commerce boom sparks a
thriving start-up culture, unprecedented pay, and perks
including free healthcare for in-laws.

India’s IT industry has long been seen as a back-office
backwater, even by its own engineers who started moving abroad
in their droves in the 1970s. That is now changing.

Apr 30, 2015

India’s Micromax plans to raise funds, enter into PC business

MUMBAI, April 30 (Reuters) – Indian smartphone maker
Micromax Informatics Ltd (IPO-MINF.NS: Quote, Profile, Research, Stock Buzz) is looking to raise
capital from private investors or through a stock market
listing, as it expands into new business segments including
personal computing, its co-founder said.

Micromax, backed by private equity firms including Sequoia
Capital and TA Associates, has held discussions with a group of
investors led by Japanese mobile telecom firm SoftBank Corp
, Reuters reported last month.

Apr 16, 2015

TCS sees FY revenue growth beating industry estimates

MUMBAI (Reuters) – India’s largest software services exporter Tata Consultancy Services (TCS.NS: Quote, Profile, Research) posted a better than expected rise in net profit led by strong worldwide client spending and said it expected revenue growth in the year starting in April to top industry estimates.

TCS, which has been growing revenues faster than rivals Infosys Ltd (INFY.NS: Quote, Profile, Research) and Wipro Ltd (WIPR.NS: Quote, Profile, Research), will benefit from investments in newer digital technologies and automation, Chief Executive N. Chandrasekaran said.

Apr 16, 2015

India’s TCS sees FY revenue growth beating industry estimates

MUMBAI, April 16 (Reuters) – India’s largest software
services exporter Tata Consultancy Services posted a
better than expected rise in net profit led by strong worldwide
client spending and said it expected revenue growth in the year
starting in April to top industry estimates.

TCS, which has been growing revenues faster than rivals
Infosys Ltd and Wipro Ltd, will benefit from
investments in newer digital technologies and automation, Chief
Executive N. Chandrasekaran said.

    • About Nivedita

      "Think all things tech and telecoms. Currently in Mumbai. Previously in Chicago, covering retail, transport and airlines. Joined Reuters in 2008."
      Joined Reuters:
      2008
      Languages:
      English, Hindi, Bengali
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