Zomato raises $200 million from Alibaba's Ant Financial
04 February, 2018, 01:09 | Author: Julio Duncan
Revenue grew 56% year-on-year to 83.03 billion yuan, Alibaba said late Thursday as it raised its revenue forecast for the full year.
Now, Alibaba Group Holdings has announced it will strengthen its strategic relationship with Ant Financial by acquiring a 33% equity stake in the company.
Net income rose to 23.33 billion yuan ($3.70 billion) in the three months to December 31 from 17.16 billion yuan in the same quarter a year earlier. According to that agreement, Ant Financial would pay Alibaba fees for intellectual property and technical services every year, which is equivalent to about 37.5% of Ant Financial's pre-tax profit. The battle between the two big players Zomato and Swiggy just got more interesting with Zomato raising $200 million from Ant Financial.
The Board of Directors at Info Edge, subject to shareholders and other requisite approvals has chose to allow divestment of 32,629 (about 6.66 percent) equity shares of Zomato Media Private Limited of the paid-up share capital of Zomato on the fully converted and diluted basis either directly or through its fully owned subsidiary, Naukri Internet Services Limited (NISL), as may be deemed fit in the best interests of the Company by way of sale, transfer, assignment or disposal and to execute such agreements and other documents as may be required for the objective of or in relation to the divestment at an equivalent of $50 million. Alibaba Group founder and chairman Jack Ma coined the term New Retail in 2016 for a strategy that has been widely adopted by retailers and internet firms to use technology to transform the traditional retail sector. The increase was mainly driven by the robust revenue growth of our China commerce retail business, global commerce retail business and Alibaba Cloud, as well as the consolidation of Cainiao Network. AliExpress, which helps ship goods from Alibaba platforms to global destinations, is also helping to extend the Chinese company's user base globally.
Harden scored 60 points yes, but he added 11 assists and 10 rebounds tallying his third triple-double of the year. Harden responded by scoring a mind-boggling 52 percent of his team's total points in the win.
The swearing-in of Raila Odinga and Musyoka was initially scheduled for December 12 in Mombasa, one of the opposition strongholds. Anther opposition supporter, vegetable seller Lilian Ondiek, 27, said she woke up at 4 a.m.to attend the event.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Pitcairn Company decreased its stake in Facebook Inc (FB) by 6.96% based on its latest 2017Q3 regulatory filing with the SEC.
Trump says he's "100 percent" behind this defamation of the nation's premier law enforcement agency for political purposes. The US has "new rules of engagement", he said, and it will not be "undermined by artificial timelines".
Organisers of the Sochi congress meant to bring together Syrians of all stripes to hammer out a new post-war constitution. Afterwards, they gave Turkey the authority to represent it at the summit, said the sources.
ET can confirm that the Netflix series has cast Diane Lane and Greg Kinnear for the upcoming sixth and final season of the series. Lane is best known for role in 2002 film Unfaithful , which was nominated for both an Academy Award and a Golden Globe.
Prosecutors abandoned the case after a judge last week threw out the bribery charges related to Melgen's campaign donations. Prosecutors lacked smoking-gun evidence and failed to prove a corrupt bargain between the senator and the doctor, he said.
Boston Store at Regency Mall will not be included in the next round of retail store closures by parent company Bon-Ton Stores. Griffith on Wednesday called the closing "unfortunate" because the store had been a mainstay at the mall for so long.
What do you think of the idea of Stations? Apparently you can add or delete playlists that exist, but can't create new ones. The app also includes the service's popular, individually personalized playlists such as Discover Weekly and Release Radar.
In the letter she claimed that this was her son's final semester in college and he couldn't finish if the tuition wasn't paid. Also, Brinkley emphatically stated for the record she wanted no parts of where or who Meek was getting managed by.
However, for Blind, whose contract runs out next summer, time appears to be up, although a transfer to Roma appears to be hard . He was an immediate hit for United, with his intelligent play seeing him establish himself in a defensive midfield role.
Khloé Kardashian's dog Gabbana dies
Khloe's little sister Kendall also posted a tribute, as the model said she'd "forever miss her kisses". She feels like her home will never feel the same without her in it.
John Wall injury could open door for Miami Heat All-Star
Detroit Pistons center Andre Drummond has been named as the replacement for an injured John Wall for the 2018 All-Star Game. Wall was selected by LeBron James for the All-Star team he will captain, with Wall's replacement to slide into that void.
ASIO Steps In To Secure Documents
They cover five separate governments, and numerous files would legally have remained secret for 20 years. They were both locked and no set of keys was provided with them.
CIA Director met Russian counterpart in US
Russian Federation denies it meddled and Trump dismissed the allegations of collusion as a political witch hunt. A spokesman for the Russian Embassy in Washington did not immediately respond to an e-mail seeking comment.
Obasanjo officially join Coalition for Nigeria movement
He also weighed in on ex-president Obasanjo's letter to Buhari, adding that Obasanjo was not in any position to give advice. He said the country was not going to get better except Nigerians come together to change the narrative and the situation.