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#Marketwire: Nikesh Arora Resigns from Softbank; Apple to Open its First Store in India & More


#Marketwire is your quick summary of notable market movements in the technology industry. The firms covered in this segment include Soft bank, Apple, Uber, Jugnoo, Goibibo and Flipkart

Nikesh Arora to Step Down as Softbank’s President

Softbank’s President Nikesh Arora is stepping down from his position. He had joined the firm in 2014, and was appointed as the President & COO in May 2015. He will remain associated with Softbank as an adviser.

Earlier this year, Arora was caught in a storm of allegations around a “series of questionable transactions, poor investment performance and conflict of interest.” in reference to the investment deals Softbank made under his leadership.  Just yesterday Softbank’s special committee which was probing into these allegations gave him a clean chit. Japanese conglomerate’s chief Masayoshi Son will continue to hold his position. Read More

Apple Retail Stores Are Finally Coming to India

Apple Retail Stores are coming to India. Setting up retail stores in India has been a foremost propaganda for Apple Inc.The iPhone maker’s ambitious dream of setting up Apple retail stores in India had hit a roadblock last month as Apple didn’t agree to follow the 30% Government norms. But fortunately, today the iPhone giant may take a sigh of relief as the Indian Government has decided to waive off the 30% sourcing norm for 3 years in its new guidelines for FDI in retail. Apple has also planned to open huge 10,000 Sq. ft. stores in Bangalore, New Delhi and Mumbai by 2017. The company has decided to invest a whopping $25 million sum in a new facility in Hyderabad that will focus on Apple maps and in turn creates 4000 jobs as well. The company also emphasised on polishing new talents by setting up a Design and Development accelerator in Bangalore by next year that will aid the budding software developers. Read More

Uber Installs Digital Meters in Cabs to Comply With Karnataka State Government’s Policy

Under new rules laid by the Karnataka transport department, in order to obtain valid licenses – cab aggregators should install digital printers, panic buttons and a signage saying ‘Taxi’ on all the vehicles. Complying with the same, Uber has given digital printer and panic button equipment to about 100 cabs which needed licenses. The government hasn’t made it clear as to why does it want the cab aggregator to install the systems in just 100 cabs where it operates over a 1000. Read More

Jugnoo Launches Dodo Deliveries

Autorickshaw aggregator Jugnoo has launched its on-demand B2B logistics service Dodo, Dodo Deliveries is an omni-channel, on-demand, hyperlocal logistics service, enabling vendors to deliver products to their customers. The service is currently operational in Chandigarh tricity, and will be expanding to Indore, Gurgaon and Noida in two weeks’ time. Jugnoo was founded by Samar Singla and Chinmay Agarwal in 2014. And it restarted its hyperlocal delivery service ‘Fatafat’ last month.

Goibibo Launches Travel Social Network GoContacts

Goibibo has launched a travel social network, called GoContacts, on its mobile app. It allows users to connect with fellow travellers in their phonebook. A consumer who joins GoContacts and travels by booking on Goibibo will result in all their connections on the app to get gain GoCash+ bonus. The network, which was launched almost a fortnight back, has reportedly already acquired over 3.5 million users. The company plans to scale the network into a Tripadvisor-like platform. Read More

Flipkart Will Replace Ping with User to Seller App

With in a year of launching its flagship in-app peer-to-peer chat service feature, named Ping, Flipkart has decided to replace it with user-to-seller chat. Flipkart will be pivoting its user to user chat – Ping – by launching the pilot for ‘user to seller chat’ and ‘user to customer care’ chat. Read More

Image Credit: Techcrunch

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