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Thu, May 10 2018. 01 03 PM IST
Google unveils an artificial intelligence tool capable of handling routine tasks -- such as making restaurant bookings, as a way to help people disconnect from their smartphone screens. Google Assistant is being taught to better understand people and interact with them more naturally and will be getting new voices, including one based on the voice of singer John Legend, as well as programming making it better at conversation. Much of the focus was on Google Assistant, the artificial intelligence application which is competing against Amazon’s Alexa and others.
Wed, May 09 2018. 11 07 PM IST
American retail giant Walmart Inc. has agreed to pay $16 billion for a 77% stake in India’s largest start-up Flipkart, valuing the firm at about $21 billion in what is one of the largest acquisitions ever in the country. The deal will redraw the retail landscape in India as Walmart takes its domestic battle with arch-rival Amazon to the global stage. It will also give a massive boost to entrepreneurship and the start-up ecosystem, which has struggled to provide exits. The buyout is the largest-ever in e-commerce, according to data compiled by Bloomberg. It will see the exit of Flipkart’s co-founder and chairman Sachin Bansal. The other co-founder Binny Bansal and other Flipkart shareholders will hold the remainder of the stake. The deal comes less than five years after Walmart exited India as a joint venture with Bharti Enterprises soured.
Wed, Apr 25 2018. 06 26 PM IST
Flipkart’s key shareholders are keen to continue negotiations with Amazon until a deal is finalized with either of the two firms. A deal between Walmart and Flipkart is more likely because a potential alliance between Amazon and Flipkart would almost certainly attract the attention of India’s anti-trust regulator. Walmart is in advanced talks to buy more than 55% of Flipkart through a mix of primary and secondary share purchases. While the primary transaction is estimated to value Flipkart at $20-21 billion, the secondary share deal could happen at a price that is 20-25% lower.
Thu, Apr 19 2018. 09 00 PM IST
In a letter to shareholders early on 19 April, Amazon chief Jeff Bezos cited data from market analytics firms comScore and SimilarWeb to highlight Amazon’s dominance in India. He also pointed to data from analytics firm App Annie to highlight that the company’s mobile shopping app was the most downloaded shopping app in India last year
Thu, Apr 19 2018. 08 57 PM IST
The electronics market in India, barring smartphones, is still not compelling enough for major tech companies to rush in their new products at the same time they are being released in the US or the UK. Microsoft’s Xbox One X was released in the US in August 2016, but arrived in India only in October 2017. Amazon’s Echo speakers came to India, 11 months after they were released in the US. If you are planning a trip to the US or the UK, here are some gadgets you can include in your shopping list
Thu, Apr 05 2018. 09 19 AM IST
Amazon has held early exploratory talks to buy Flipkart even as the latter closes in on a sale to Walmart. Other than Amazon and Walmart, Google also offered to invest in the e-commerce firm at a valuation of $15-16 billion. Flipkart is seen as one of the most attractive assets in the global internet economy. Launched in 2007, Flipkart has, so far, raised more than $6 billion. Apart from its eponymous platform, Flipkart owns fashion businesses Myntra and Jabong, eBay India and mobile payments firm PhonePe.