08 Aug 2019

Startup NEWS, August 8, 2019

1. UPI usage soars, but Paytm share sinks

  • Company cedes market share to Google Pay, PhonePe which registered around 300 million transactions each in July while Paytm clocked 140 million transactions.
  • Paytm had around 16% share of the total UPI transactions of 822 million in July, while Google and PhonePe each had more than 35% share.

source: ET

2. Uber is biggest loser in SoftBank IPO returns, Oyo a bright spot

  • At the Vision Fund, unrealized losses totaling $1.84 billion were recorded during the quarter ending June 30, attributable to decreases in the fair value of Uber and other investments.
  • SoftBank’s filing didn’t specify how much of the unrealized gains came from OYO, merely naming that company alongside Slack and DoorDash Inc. as contributors.

source: ET

3. Oyo gets new CEO for South-East Asia and Middle East

  • Vaidya’s appointment is the latest by OYO which has been beefing up its leadership teams across multiple regions over the last 12 months.
  • The announcement comes a day after Oyo named Gaurav Ajmera as its chief operating officer for its India and South Asia operations.

source: ET

4. Beating Musk & Bezos, OneWeb will beam internet from space

  • OneWeb, which raised $3.4 billion from Softbank, Airbus SE, Virgin Corp and Qualcomm Inc, plans to launch around 30 satellites per month from December.
  • Musk’s SpaceX is also moving fast, sending dozens of satellites into orbit for its Starlink project and preparing for more launches this year.

source: ET

5.  Zomato’s Infinity Dining turns sour for eateries

  • Infinity Dining, which launched in July, allows Zomato Gold customers to walk in to a restaurant and order unlimited meals for a fixed price, via the app.
  • Online food ordering platform Zomato is facing resistance from restaurants over its allyou-can-eat dine-in programme, re-igniting an ongoing battle with food aggregators.

source: ET

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