One97 Communications Ltd., the owner of an Indian online payment processor backed by Alibaba Group Holding Ltd. s finance arm, said funds at its disposal were enough to last five years, enabling it to build a business model that s predictable.We have enough money in the bank to last 21 quarters if we keep spending at the same rate as last year, Vijay Shekhar Sharma, chief executive officer of One97 that owns Paytm, said in an interview to Bloomberg TV in Hong Kong.One97, which was founded in 2000 by Sharma, doesn t plan to sell shares in an initial public offering for at least three years, Sharma said.The company has received funding from Intel Capital, private-equity firm SAIF Partners and Fitbit Inc.-backer Sapphire Ventures LLC.A Morgan Stanley fund marked down the value of its investment in Flipkart by more than 25 percent, paring the valuation to $11 billion in less than a year from as high as $15 billion.India s only food-tech unicorn, Gurgaon-based Zomato Media Pvt., saw its billion-dollar valuation slashed in half this month by analysts at HSBC Securities and Capital Markets India .Paytm started as a provider of value-added-services for mobile phones and later evolved into a marketing platform for consumer brands to reach customers via text messages and voice calls.The payment-processing system Paytm is the public face of One97.Its businesses include mobile-recharge services and an e-commerce platform where consumers can find goods including clothing and cameras.
TinyOwl is among several food delivery startups in India that have recently run into operational troubles despite support from marquee investors.Issues include the high cost of logistics and a oversaturated market Bloomberg reports that more than 400 restaurant delivery startups have been founded in India over the last three years, raising a total of $120 million in funding .Like Zomato and Foodpanda, two of its biggest rivals, TinyOwl was forced to hold mass lay offs last year.TinyOwl, however, may have another shot at life.Partnering with Roadrunnr, which handles last-mile deliveries for e-commerce and food delivery companies, may give TinyOwl an advantage over its competitors if it relaunches service.TechCrunch has also contacted Roadrunnr for comment.
Startup food delivery businesses may have spoiled globally, but investors in Latin America think at least one startup has a fresh take on the industry.It s the continuation of a very tangled web of connections between the three companies.Consolidation and capital destruction have been the orders of the day globally, with JUST EAT and iFood coming out as beneficiaries.In emerging markets the situation has been even worse.PepperTap, a grocery service backed by Sequoia and Snapdeal.com, shut down in April, following the closure last year of Dazo, a startup with financing from executives at Google and Amazon.Even the country s only food tech unicorn, Gurgaon-based Zomato, saw its billion-dollar valuationslashed in half this month by analysts at HSBC Securities and Capital Markets India .
Swiggy, one of India s top food delivery services, has refueled its tanks after raising $15 million led by Bessemer Venture Partners.The company said a number of existing investors also participated, but it didn t name them directly.The round is being called a Series D even though it is dwarfed by the $35 million Series C that the company pulled in at the start of the year.This new raise takes Swiggy to $75 million in investor capital since its launch two years ago.Bangalore-based Swiggy was definitely a late entrant to the food delivery market, which, in India, is dominated by the likes of Zomato — a company valued at more than $1 billion — and Rocket Internet s FoodPanda, which has had its challenges in India.Swiggy aims to stand out by offering a more curated list of restaurants and services, not to mention its own in-house delivery fleet rather than contractors.
Restaurant search service Zomato has acquired fellow Indian company Sparse Labs, a logistics technology startup specializing in helping restaurants track delivery drivers, allocate orders to the most suitable delivery person based on location, and show customers where their order is in real time.Founded in 2008, Zomato offers an online search service for 30 million restaurant-seekers in 20 countries, serving up information such as menus, photos, and locations, with users able to submit reviews and ratings.The company has raised more than $200 million in VC funding since its inception, and it expanded into the U.S. last year with the acquisition of Urbanspoon.However, some months later, news emerged that Zomato was laying off many of its U.S. employees and was refocusing its efforts where it was already a market leader and doing well.Zomato has made a number of acquisitions over the past couple of years, including NexTable, a U.S.-based startup that offers a restaurant reservation and table-management platform similar to OpenTable .But Zomato s move to acquire a logistics technology company is notable, as it mirrors the offerings of a number of other food-delivery companies.Indeed, companies such as Deliveroo in Europe make it easy for restaurants and customers to view drivers location in real time, meaning hungry customers can always see where their food is, and kitchens can be sure they re using the nearest driver for delivery.Sparse Labs smarts include a web dashboard, APIs, driver apps, customer notifications, maps, and more.It s all about helping restaurants optimize their operations to minimize friction between receiving an order and delivering it to the customer.
If so, it would be great to use modern technologies that assist you in making the journey more enjoyable.Some of these technologies have already become part of our life.For example, apps for searching certain places and services are very popular among tourists.These apps are represented in the market by Yelp, TripAdvisor, Zomato, Zagat etc.But it can be rather difficult for unsophisticated users to find something suitable especially for them.However, sometimes a user wants to have his own unique app that will assist in locating places for rest and necessary services.
Google has quietly launched Areo, an Android app to let you order food, as well as hyperlocal home improvement and personal services from local providers in India.Currently available in the cities of Bangalore and Mumbai, it aggregates food delivery, beauty, home maintenance, household repairs, fitness training and physiotherapy, and other services.You can schedule visits from professionals and pay for purchases through the app.It’s signed up local partners UrbanClap for home services, and Freshmenu, Box8 and Faasos for food delivery.Each of these businesses have their own mobile apps and are the food services are available through other popular aggregators like Swiggy and Zomato.So with Areo, Google is hardly reinventing the wheel, but it is testing the waters in a space that it hasn’t ventured into before.
Google has launched a new app called Areo for local services like food delivery and home services.The app is only available in Bengaluru and Mumbai in India right now.The app is looking to target the demanding app-based food and service delivery market in Indian urban spaces.While most app-based providers like Swiggy, Urban Clap, House Joy and Zomato have either food delivery or house services exclusively, Google's Areo claims to provide both through its services.IBTimes UK tried the app out, which is just a day old now, and it seems to be in the beginning stage.Both in the food and house services section only a few service providers and vendors seem to be available.
p Zomato, the popular restaurant and event listing service, has reportedly been hacked and 17 million accounts have been found listed on the dark web for sale.The data on sale includes emails and hashed passwords of Zomato users.A dark web vendor going by the pseudonym "nclay" has reportedly claimed responsibility for the hack.HackRead reported that the vendor publicly shared a sample of the trove of stolen data.HackRead stated that a test of the sample data showed that every account mentioned on the list existed on Zomato and that the data came from registered Zomato users.IBTimes UK has not independently verified the legitimacy of the stolen data.
p Early on Thursday, online restaurant guide Zomato revealed it’d been hit by hackers, estimating that login details had been stolen from 17 million of its 120 million users.In a post on its site the India-based company said the “recent” discovery involved the theft of “email addresses and hashed passwords.” It insisted that no payment-related information had been nabbed in the attack as that data is held separately and wasn’t targeted.However, the company said it would “strongly advise” all of its users to reset their passwords as a precautionary measure, and also to reset it with any other services where the same password is used.For the 17 million users Zomato could positively identify as having been directly affected, the company said it’d forced a password change and was notifying them of the move so they could then reset it themselves.The service, founded in 2008, is a Yelp-like user-reviewed directory of more than 1.2 million popular restaurants, cafes, and bars in more than 10,000 cities across 24 countries, many of which are located in the U.S.The service also offers food deliveries and lets you book tables.
p The India-based company, which offers services in more than 20 countries worldwide, set off alarm bells when it revealed that a hacker had made off with 17 million user records.That, Zomato said, included email addresses and hashed passwords, but not credit card information.Initially, the stolen information was put up for sale; however, the company later revealed that the hacker had agreed to remove the listing on the condition that Zomato introduce a fully fledged bug bounty program.Zomato has operated an account on disclosure service Hacker One for more than a year; however, CEO Deepinder Goyal confirmed on Twitter that it would begin compensating hackers with money for their disclosures.Following the incident, Zomato reset the passwords of all affected users and logged them out of its app and website.It said that 60 percent of its 17 million user records are tied to social log-in via Twitter or Facebook and therefore weren’t impacted by the hack.
p Less than 24 hours after revealing a major security breach that compromised the accounts of millions of users, restaurant search service Zomato revealed that it has engaged with the hacker responsible and has agreed to meet certain conditions in exchange for the stolen data being removed from the dark web./p p To recap, India-based Zomato, which claims around 120 million users each month, revealed yesterday that around 17 million email addresses and hashed passwords had been stolen, but it later clarified that 60 percent of those accounts actually used third-party OAuth services — such as Facebook and Google — to log in.But that still left around 7 million users vulnerable, particularly if they used the same email / password combination on other services./p p Though Zomato had sought to assure the affected users that their passwords could not easily be decrypted, it seems that was not necessarily the case, with some security experts claiming they were able to decrypt some passwords relatively quickly and others pouring scorn on Zomato’s cryptographic efforts./p p /p p The party claiming responsibility for the hack told Motherboard that they had found the vulnerability in Zomato’s infrastructure around a year ago and that after reporting it to the company had heard nothing back.So they went medieval on Zomato by posting the data for sale on the dark web, which led Zomato to “open a line of communication” with the hacker, who it turns out was “very cooperative.” /p p “He/she wanted us to acknowledge security vulnerabilities in our system and work with the ethical hacker community to plug the gaps,” explained Zomato’s chief technologist, Gunja Patidar.
We have digitized almost every aspect in the tech-driven world and rely on the tech devices to acquire everything.Mobile applications are like a remedy to all our issues but are these trustable and safe.This is not the first time Zomato became of victim of the security breach in last two years.According to the company, the stolen data is very difficult to access by the hackers as it were secured with many layers though these data eventually got cracked.Changing the password now is the smart move from every perspective, if you are using the same password for other platforms too you should consider changing it immediately and start using a password manager.In a blog post, Zomato also mentioned it all the payment information including debit card, credit card information is safe.
p The internet hasn't been very safe lately.Following a global cyberattack last weekend, India-based restaurant guide Zomato says 17 million user records have been stolen from its database, of which 6.6 million were listed for sale on a "dark web marketplace."The company has registered more than 120 million users from 24 countries around the world.The good news is that the hackers have agreed to pull the listing from the market provided the platform runs a "healthy bug program for security researchers."Zomato has agreed to do so, saying it will introduce a program called Hackerone "soon."Zomato had assured users on its blog that payment-related information is stored in a separate platform, hence the data that was taken did not include payment information and credit card details.
p ANALYSIS: WannaCry ransomware worm outbreak isn’t the only cybersecurity incident that users need to worry about, as a pair of breaches at Zomato and DocuSign showhe past week has been particularly busy in the cyber-security world and not just because of the WannaCry ransomware worm outbreak.A pair of other, non-ransomware related breaches impacting electronic signature vendor DocuSign and restaurant rating app Zomato highlight ongoing security risks.On May 15, DocuSign publicly confirmed that its’ systems had been breached, helping to fuel a widespread phishing campaign against users.“A complete forensic analysis has confirmed that only email addresses were accessed; no names, physical addresses, passwords, social security numbers, credit card data or other information was accessed,” DocuSign stated.“No content or any customer documents sent through DocuSign’s eSignature system was accessed; and DocuSign’s core eSignature service, envelopes and customer documents and data remain secure.”
Zomato, the global restaurant guide and food on-demand service, has made an acquisition to shore up its delivery business on home turf after it completed a deal for Runnr.The acquisition has been rumored since May and is much-anticipated, as Zomato CEO Deepinder Goyal himself acknowledged in an announcement.The all-stock deal was previously pegged at $40 million by Indian media, but Zomato didn’t give a confirmed price.Zomato started out as a restaurant guide, but today it offers additional services including point-of-sale services and, in India and the UAE, online ordering and delivery.The newly-acquired startup will be run independently by CEO Mohit Kumar which means it will continue to serve other customers and segments beyond Zomato’s food orders.“This will ensure that the delivery fleet capacity that we build operates on a positive unit economics level while serving the mega-peaks in the food delivery business,” Goyal wrote.
Since Amazon launched their AI assistant, aka Alexa, it became very popular with a growing adoption, however the success keeps kinda limited by the market availability and by the gadgets supporting it.Now in a move to expand its reach ability Amazon is launching three new echo devices, from their own Echo’s speakers line, at India.The Amazon Echo, Echo Dot and Echo Plus will come for India, with special features totally customized for the Indian market.In a fast example, Alexa will speak English with an Indian accent, probably in a move to make the Indian user more familiarized with the AI assistant.Amazon also is very keen on Alexa capabilities, and didn’t save efforts to tease what the user can do with its Echo device, that said the device is meant to support up to 10,000 skills, and it includes great support for most of the popular services used at India, that includes the food delivery service Zomato, the booking platform Ola, services request from UrbanClap and more.Amazon also aims to bring a seamless experience for the Indian user as Alexa also include support for Indian names, places, music and a whole of the local knowledge, making device not only “an extra thing” but also very helpful for those who want to know more and learn about the country.
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E-commerce remains among the biggest tech opportunities in India, one of the world’s most populated countries whose economy continues to rapidly evolve and now has over 500 million people connecting to the Internet.Razorpay, which has built a payments gateway for businesses to quickly integrate payments services into their websites and apps by way of an API, has raised another $20 million at what reliable sources have told us is a valuation of over $100 million, to fuel its next stage of growth.The funding, a Series B round, is jointly led by Tiger Global and Y Combinator via its Continuity Fund, following on from previous investments both have made in Razorpay.Matrix Partners, another repeat backer, also participated, bringing the total raised by the startup to $31.5 million.(Other notable previous investors point to how Razorpay has positioned itself in the market, and the credibility it’s building: MasterCard has also invested an undisclosed amount in the startup, as have the founders of large Indian tech companies Snapdeal, InMobi and Freecharge; Visa’s Global Head of Strategy; Flipkart ex-CPO Punit Soni; Justin Kan; and Tikhon Bernstam.)There have been a number of big boosts to the business of e-commerce in the country over the last several years, with companies like Flipkart and Snapdeal duking it with international players like eBay and Amazon out among online storefronts; and companies like Ola, Uber, and Zomato making it second-nature for many people to rely on digital payments for their goods and services.
Amazon today announced that it has added over 1000 new skills to Alexa since the launch of the service in India.According to the company, Alexa users in India can now access over 12,000 skills.The 1,000 new skills that have been added since the India launch are spread across 20 categories, the e-commerce giant said.Launched in India on October 31 last year, Indian users had access to over 11,000 skills, with developers like TED, ESPNCricinfo, Saavn, Zomato etc.In the 60 days since bringing Alexa to the country, Amazon has added around 1,000 new skills.The company further claims that being backed by the AWS cloud and its own understanding of natural language, makes it easier to add new skills to the service.