#MarketWire is a quick round up of notable business movements of the day. This segment features news from Amazon, Line, Indian Government, OLA and Samsung.
Amazon Launches P2P Commerce Via Junglee
Amazon’s has kickstarted an Olx-Quikr like platform for P2P goods selling on its product discovery portal Junglee. The platform will allow individuals to sell second-hand goods across different categories like mobile phones, tablets, pre-owned watches, books, among other such items.
The service which is currently available only in Bangalore, would be completely facilitated by Amazon. It will be offering pick-up and packing services for the used goods at the seller’s doorstep and also delivery of the product to the buyer. It will by charging a commission post successful transaction between the two parties. Read More
Also, noting the impact of the Seattle based company in India, India Post released the ‘My Stamp’ with Amazon India on Friday, to commemorate the marketplace’s third anniversary in the country. Read More
Line Targets $3B IPO in dual Tokyo-New York Listing
Japanese messaging service Line has decided to go forward with its much awaited Initial Public Offering in the coming month of July. The company will list on both Tokyo and New York stock exchanges simultaneously.
The messaging service’s IPO is expected to be the biggest initial public offering in Japan so far. The IPO is expected to value Line at more than $5B, and the company is expected to raise $2 billion to $3 billion.
Line Corp. would want to utilize the newly generated funds to work on new revenue generation schemes and expand its user base which has been declining since the rise of other chat platforms, including Messenger, Whatsapp and WeChat in current messaging scenario. Read More
Matrimonial Websites Must Keep IP Address Records and Verify Users with Valid IDs: Government
The government is in the process of finalizing guidelines for matrimonial websites to ensure that they are not used by those not intent on marriage. The guidelines would not impact the business model of these websites. In fact, they will further facilitate growth and will ensure privacy and safety of users.
It will be mandatory for websites to keep IP address records as well as the users will be asked to upload documents proving their identity.
Moreover, users of these sites have to verify that they intend to use it as a matrimonial service. Also, users will be forbidden from posting “objectionable photos” on such sites. Websites should also state that whether they are dating or matrimonial websites. Read More
OLA Launches B2B Mobile App for Operators
Taxi hailing app OLA, launch a first of its kind mobile technology solution for entrepreneurs who have grown from one car to many over the years, as well as operators who own cars, but employ drivers, to work on the platform.
The app will enable operators to conveniently track the location of every one of their registered vehicle, in real-time as well as receive live alerts on their running status. Operators can monitor log-in details, daily earnings and performance, all from a single window in real time as well. The app dashboard will display details on Operator’s current balance, total number of rides completed and earnings with break-up in cash and online payments made for selected period with detailing at a vehicle and driver-level. Read More
Samsung Gear Fit 2 and Gear IconX Officially Announced
Samsung announced two new products yesterday – a new activity tracker and wireless ear-phones.
The Gear Fit 2 the watch-like look device, is a follow up to the original product which was launched back in 2014. It comes with an updated design and it is larger. There is a new textured strap as well as a Gorilla Glass 3 to protect the 1.55-inch Super AMOLED display. The wearable will come in two size variants; small (size of wrist: 125 ~ 170mm) and large (size of wrist: 155 ~ 210mm) and three colour options including black, blue and pink in both sizes.
Samsung also unveiled the Gear IconX which is their take on truly wireless earbuds. These earphones don’t have any wires and they just simply fit in your ears. Apart from working as a standard pair of Bluetooth headphones, they also come with 4GB of onboard storage, touchless controls for controlling your music, and a bunch of fitness tracking abilities when paired with S Health app.
The Gear Fit 2 will officially go on sale on 10 June for $180 (Rs 12,000 approx). The Gear IconX will be arriving in Q3 and there is no confirmation of the price.Read More