In no particular order, here are MediaNama’s top 10 stories of the week ended 14th January 2018
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Alibaba’s affiliate apologises for forcibly opting users into credit registry
Chinese e-commerce giant Alibaba has come under fire over its handling of user data. AFP reported that the company’s affiliate Ant Financial was forced to apologise last week after users said that its Alipay service was sharing data with Ant’s credit-scoring arm and other third-party services without their informed consent. Read it here
Airtel Payments Bank terminates over 1,000 retailers: Report
Update: Bharti Airtel has responded after the Bombay Stock Exchange, where the company is listed, sought a clarification on the news report. In its response to the BSE the company said, “Airtel Payments Bank Limited in the ordinary course of its business appoints various retailers, distributors and when necessary terminates such retailer and distributors for various reasons.” Read it here
Google combines Android Pay and Google Wallet; Tez unaffected
Continuing with its policy of ‘fragmentation and consolidation’, Google announced that it is merging Google Wallet, Android Pay and a myriad of other services under a single platform. Read it here
Swiggy brings ‘faraway’ restaurant delivery to its users for a fee
It looks like Swiggy is adding popular restaurants for its users whether it is in their vicinity or not, to gain an edge over players like UberEATS, Zomato, and also now Ola-owned Foodpanda India. We spotted in Mumbai that Swiggy added a new feature of ‘far away delivery’ where it offers to deliver food from outlets which are away from the delivery location by charging a fee. Read it here
Update: Paytm launches investment arm Paytm Money
One97 Communications Ltd, that runs Paytm, has set up a new entity called Paytm Money Ltd that will offer investment and wealth management products, the company said in a blog. The company is looking to selling these products to customers of its other new entity, Paytm Payments Bank. Read it here
Eros Now has 5 million paid subscribers, to go live with originals soon
Eros Now’s paid subscriber base stood at 5 million users at the end of December 31, 2017. The total number of registered users at the end of 2017 stood at 80 million. The paid subscribers represented 6.25% of the total registered users. Read it here
Silly Monks IPO subscribed 17.23 times on last day
The initial price offering (IPO) of digital entertainment company Silly Monks Entertainment was subscribed 17.23 times (2,17,14,000 bids for 12,60,000 shares offered) at the end of the last (5th) day, according to data on the National Stock Exchange. Read it here
InMobi acquires US-based AerServ for $90mn
Mobile advertising platform InMobi has acquired US-based mobile video ad startup AerServ for $90 million in cash and stock deal. With this acquisition, InMobi’s video and programmatic (automated digital advertising purchase technology) business will account for 35 percent of the overall company revenue and will help the company to strengthen its position in the mobile video advertising industry in the US. Read it here
Facebook to prioritise posts from friends over publishers, brands
Facebook has introduced major changes to the types of posts, videos and photos that will appear on the News Feed of its more than two billion users. The company said on Thursday that it would prioritise content that has been shared by friends and family while de-emphasizing content from publishers and businesses. Read it here
SEBI’s WhatsApp probe seizes laptops of 34 analysts and dealers: report
As earnings season approaches, The Securities and Exchange Board of India (SEBI)’s ongoing investigation of ‘price-sensitive information’ leak on WhatsApp groups has led to laptops of 34 dealers and brokerage analysts being seized, the Economic Times reports. SEBI was trying to determine the source of the leaks. Read it here
