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Amazon in Talks to Buy Up to 26 Percent Stake in Reliance Retail: Report

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Amazon.com is in exploratory talks with Reliance Industries-owned Reliance Retail for buying up to 26 percent stake in India’s biggest brick-and-mortar retailer, the Economic Times (ET) reported on Thursday. Talks began after Reliance’s negotiations with China’s Alibaba Group to sell a stake in the retail entity fell through due to differences over valuation, the financial daily reported citing two senior industry executives.

However, there is no certainty the initial discussions will lead to a deal, according to the report.

“As a policy, we do not comment on media speculation and rumours. Our company evaluates various opportunities on an ongoing basis,” Reliance Industries said in a statement.

Amazon declined to comment.

The Seattle-based e-commerce giant has been engaged in a pitched battle for Indian market share against Walmart’s Flipkart, with both companies announcing various plans to attract more customers in what is viewed as one of their most important growth markets.

Reuters reported on Monday that Amazon was planning a foray into the burgeoning online food delivery business in India this year.

Amazon is aiming to launch the new service delivering from restaurants ahead of India’s month-long festive season, which starts in September, one of the sources said.

India’s rising middle class has driven the growth of the online food delivery sector, with research firm RedSeer Consulting saying here order numbers rose 176 percent in 2018.

Profitability, however, remains elusive. The industry is dominated by local start-ups Swiggy, backed by Naspers and Tencent, and Zomato, which counts Sequoia as an investor.

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OnePlus Nord finally gets OxygenOS 11 with Android 11

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Although not really its flagship brand, the OnePlus Nord was definitely one of the company’s highlights last year. It came at an opportune time when people were looking towards mid-range phones due to a pandemic and a global economic crisis. The phone also came just months before Google rolled out Android 11 to the masses, which meant that owners of … Continue reading

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Walmart just dropped Express Delivery’s annoying restriction

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A few months after dropping its $35 minimum order requirement for its Walmart+ subscription, the retailer is back with a similar announcement: you can now get Express Delivery on any orders, not just ones that reach a $35 minimum threshold. The change doesn’t impact the delivery fee, however, so customers will still pay a premium for the service. Walmart’s Express … Continue reading

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Instagram Live Rooms opens video streaming space for four

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Instagram Live is getting support for up to four people in a single broadcast, doubling the number of participants as services like Clubhouse and Twitter Spaces gain traction. Though not necessarily being pitched as an explicit rival to recent audio-focused hit Clubhouse, Instagram Live Rooms will make shared broadcasts much more straightforward. Launched back in 2016, Instagram Live was updated … Continue reading

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