Page 2 - Online Platform

ED makes two fresh arrests in Mahadev betting app money laundering case

The Enforcement Directorate has arrested two more persons in connection with its money laundering investigation into the Mahadev online betting and gaming app case, officials said on Saturday. Nitin Tibrewal and Amit Agrawal were taken into custody under various sections of the Prevention of Money Laundering Act (PMLA) and produced before a special court in Raipur on Friday, ED lawyer Saurabh Pandey said. The court sent them to ED custody till January 17, he said. Tibrewal is alleged to be a "close associate" of an accused in the case, Vikash Chapparia. He is alleged to have purchased some "undisclosed" properties in Dubai and a majority shareholder in an FPI company in which Chapparia is also a shareholder, ED sources said. The agency suspects these assets were bought using the "proceeds of crime" generated from the profits of Mahadev app. Amit Agrawal, the sources said, is a relative of another accused in the case, Anil Kumar Agrawal. Amit Agrawal is alleged to have received M

Zoomcar to turn profitable for the full year in 2024: CEO Greg Moran

Car sharing platform gets 90% of its business in India, went public last week

Online platforms may need to delete data of users inactive for 3yrs

New Digital Personal Data Protection Rules proposed by the government may require online platforms, including e-commerce, gaming, and social media, to permanently delete data of inactive users

ONDC, Meta partner to empower small biz, upskill 500k MSMEs in next 2 yrs

The Meta Small Business Academy offers entrepreneurs and marketers a certification in digital marketing skills to grow on the Meta apps

Ride-hailing firm Uber rolls out rewards for drivers to avoid cancellations

By rewarding drivers with good customer rating (above 4.8) and low trip cancellations, this program aims to elevate overall platform experience for riders and drivers alike

Flavours of ICC Cricket World Cup final on apps: Food and flowers

Quick delivery platforms cater to demand surge, from pizza and burgers to coconuts and flowers for worship

IGP enters Dubai market, expects Rs 80 crore revenue in 1.5 years

Online gifting platform IGP on Friday announced a foray into the Dubai market from where it expects to generate a revenue of USD 10 million, (Rs 80 crore) in the first 1.5 years, the company said on Friday. The company claims to have an annual revenue of USD 40 million, or about Rs 320 crore. "I am thrilled to announce our foray into the vibrant market of UAE. With an investment of USD 10 million and a dedicated team of over 100 professionals, we are set to transform gifting experiences in the region," IGP Founder and CEO, Tarun Joshi said in a statement. IGP is a global brand, our goal is to become the ultimate destination for flowers, cakes, and gifts, enriching the lives of millions in the UAE and, in the long term, across the entire Middle East," he said. The company has set up a warehouse of over 20,000 sq ft in Dubai. Joshi said he expects to generate revenue of USD 10 million in Dubai over a period of 18 months.

Direct MF entities can charge AMCs up to Rs 2 for transactions: Amfi

The announcement on transaction charges brings the much-needed clarity to such platforms ahead of the end-November deadline for choosing between the two options

Omegle shuts down operations permanently after 14 years of its service

Online video chat platform Omegle shuts its services permanently after 14 years. The founder of Omegle said the site is not sustainable anymore financially nor psychologically

Govt launches hackathon to tackle 'dark patterns' on some online platform

This is the third hackathon the consumer affairs department is organising after the successful hackathon on onion and tomato, he said

Consumers disapprovingly pay convenience fees on online platforms: Survey

Around 83 per cent of consumers disapprovingly pay convenience fees online platforms for booking tickets or any other service, online survey firm LocalCircles said on Tuesday. According to the survey, 84 per cent of respondents want the government and its public sector units (PSUs) like IRCTC to stop charging convenience fees or service charges and promote Digital India. LocalCircles claims to have received over 32,000 responses from consumers in 319 districts of India in response to the survey conducted between June 16 and October 19, while the number of feedback to each question varied. "On an aggregate basis, 79 per cent of consumers surveyed claim they are being charged convenience fees for services they have booked online," the survey said. According to the report on convenience fees, when services like tickets are procured digitally, the supplier or seller is able to lower the cost of manpower and facilities and instead spend more on the deployment of user interfaces and back

Myntra records about 460 mn customer visits during festive season sale

Fashion and lifestyle e-commerce firm Myntra recorded around 46 crore customer visits during its recently concluded festive season sale Big Fashion Festival, the company said on Thursday. The Indian wear category at large witnessed a 2.2 times increase in demand over business as usual (BAU) days, Myntra said. "Myntra's marquee festive fashion event, the Big Fashion Festival (BFF), concluded its biggest edition by far witnessing about 460 million customer visits," Myntra said in a statement. This was the fourth edition of BFF where sellers at Myntra offered access to over 23 lakh styles while scaling up the selection by over 50 per cent from the previous edition, the statement said. Some of the leading metros driving demand during BFF were Bengaluru, New Delhi, Mumbai and Hyderabad. The platform also witnessed discerning customers with an appreciation for premium and trendy fashion from Tier 2 and 3 regions, fuelling the festive fervour with around 42 per cent of the demand origina

Swiggy raises platform fee by 50% to Rs 3 on food delivery orders

Swiggy had begun levying a platform fee to its customers in April regardless of the order value

Amazon Prime Video to roll out ads across multiple countries in early 2024

The online retail firm does not break out Prime membership numbers, but Business Insider had earlier this year reported Amazon ended 2022 with 168 million Prime members in the US

Social gaming platform Eloelo raises $22 million in Pre-Series B round

The funds from this round will be utilised to forge partnerships with creators, develop innovative tools across AI and AR (augmented reality)

Snapchat's new features to protect teens from potential online risks

The platform requires teens to be Snapchat friends or have phone book contacts with another user before they can begin communicating

Dunzo fully integrates seller app onto ONDC, will onboard 20k merchants

Quick commerce firm will provide merchants customer and last-mile logistics delivery support for joining network

Meta Platforms Inc to fight EU charges over Facebook marketplace abuse

EU watchdogs alleged that Meta imposed unfair trading terms that enable it to use data on competing online classified ad services for its Marketplace platform

Ronaldo buys stake in Rolex reselling website Chrono24 for undisclosed sum

Ronaldo joins existing Chrono24 shareholders including private equity firms and the family investment vehicle of LVMH chairman Bernard Arnault

Consumer affairs dept asks online platforms to not use 'dark patterns'

The Consumer Affairs dept advised online platform to not engage in 'unfair trade practices' by incorporating dark patterns in their online interface to manipulate consumer choice