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<ul><li>Ecos Mobility is expected to announce its IPO share allotment status on Monday, September 2.</li><li>The shares of Ecos Mobility were subscribed 64.26 times.</li><li>The Ecos Mobility shares are expected to be listed on the stock exchanges on September 4.</li></ul>New Delhi-based Ecos Mobility, a chauffeur-driven car rental service provider is expected to announce the allotment status of its initial public offering (IPO) on Monday, September 2. The <keyword id="22894037" type="General" weightage="20" keywordseo="Ecos-Mobility-IPO" source="keywords">Ecos Mobility IPO</keyword> opened on August 28 and closed on August 30. The price band for the Ecos Mobility IPO was ₹318 to ₹334 per share. <h2>Ecos Mobility IPO subscription status</h2>On its last day, the Ecos Mobility IPO was subscribed 64.26 times, receiving bids for 80.97 crore equity shares against 1.26 lakh shares on offer. While the qualified institutional buyer (QIB) portion was subscribed 136.85 times, the non-institutional investor's portion was subscribed 71.23 times. The retail portion was subscribed 19.79 times. <h2>Ecos Mobility IPO Grey market premium</h2>The shares of Ecos Mobility are currently commanding a grey market premium (GMP) of ₹160 per share. GMP is the premium at which IPO shares are traded in an unofficial market before they are listed on the stock exchanges. <h2>How to check Ecos Mobility IPO’s allotment status</h2>You can check the <keyword id="22996732" type="General" weightage="20" keywordseo="Ecos-Mobility-ipo-allotment" source="Orion">Ecos Mobility IPO allotment</keyword> status on the registrar’s website. <ul><li>To check the Ecos Mobility IPO allotment status, visit the registrar’s website<a href="https://linkintime.co.in/initial_offer/public-issues.html"> here</a>. </li><li>Click on ‘Select Company’ and then select ‘Ecos Mobility’. </li><li>Now, enter your PAN, application number, DP / Client ID or Account number / IFSC. </li><li>Click on submit. </li></ul>You will be able to see your Ecos Mobility IPO application status. It will display the number of shares that you have applied for and the number of shares that have been allotted to you. You can also check the Ecos Mobility IPO allotment status on the BSE and NSE websites. To check the allotment status on the BSE or NSE website: <ul><li>Go to the BSE<a href="https://www.bseindia.com/investors/appli_check.aspx"> website</a>. </li><li>On the website, click on 'Equity' and then select ‘Ecos Mobility’ from the dropdown menu. </li><li>Now, enter your application number and PAN. </li><li>Click on 'Search'. </li></ul>You will be able to see the number of Ecos Mobility shares allotted to you. You can click<a href="https://www.nseindia.com/products-services/initial-public-offerings-bid-verification"> here</a> and log in to check your Ecos Mobility IPO allotment status on NSE. <h2>Ecos Mobility IPO listing date</h2>The shares of Ecos Mobility will be listed on the stock exchanges on September 4. Disclaimer: The content on this website is for informational purposes only and should not be construed as investment advice. We recommend that readers consult certified, qualified, registered advisors for professional and personalised financial advice. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/webstories/realme-13-plus-5g-vs-iqoo-z9s-pro-battle-of-the-under-25000-smartphones/slidelist/112924868.cms">Realme 13 Plus 5G vs iQOO Z9s Pro – Battle of the under ₹25,000 smartphones</a> <a href="https://www.businessinsider.in/stock-market/webstories/baazar-style-retail-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112920678.cms">Baazar Style Retail IPO – Price band to risk factors, all you need to know</a> <a href="https://www.businessinsider.in/business/auto/news/upcoming-cars-launching-in-india-in-september-2024/slidelist/112917920.cms">Upcoming cars launching in India in September 2024</a>

Ecos Mobility IPO allotment – How to check allotment, IPO GMP, listing date and more

<keyword id="19907577" type="General" weightage="20" keywordseo="shares" source="keywords">Shares</keyword> of chauffeur-driven mobility provider ECOS (<keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword>) Mobility &amp; Hospitality Ltd were listed with a <keyword id="20097242" type="General" weightage="20" keywordseo="premium" source="keywords">premium</keyword> of over 17 % against the issue price of Rs 334 on Wednesday. The stock made its debut at Rs 391.30, a jump of 17.15 % from the issue price on the BSE. Later, it zoomed around 36.52 % to Rs 456. The Rs 601 crore share sale was entirely an Offer For Sale (OFS) of up to 1,80,00,000 equity shares. At the NSE, shares of the firm listed at Rs 390, a premium of 16.76 %. The company's market <keyword id="19896943" type="General" weightage="20" keywordseo="valuation" source="keywords">valuation</keyword> stood at Rs 2,646.30. The shares closed the day at Rs 441.05 on NSE, up by 13.09%. The initial share sale of Ecos (India) Mobility &amp; Hospitality got subscribed 64.18 times on the closing day of bidding on Friday. Per reports, the profit per lot in this <keyword id="19898327" type="General" weightage="20" keywordseo="IPO" source="keywords">IPO</keyword> is Rs 2,464 The IPO had a price range of Rs 318-334 a share. The Delhi-based company has been providing Chauffeured Car Rentals (CCR) and Employee Transportation Services (ETS) to corporate customers for more than 25 years. It operates a fleet of more than 9,000 vehicles from economy to luxury cars, across 109 Indian cities. It also provides speciality vehicles like luggage vans, limousines, vintage cars and vehicles for accessible transportation for people with disabilities. Shivani Nyati, Head of Wealth, Swastika Investmart Ltd noted that <keyword id="22886052" type="General" weightage="100" keywordseo="ECOS-Mobility" source="keywords">ECOS Mobility</keyword> &amp; Hospitality made a promising stock <keyword id="20491150" type="General" weightage="20" keywordseo="market-debut" source="keywords">market debut</keyword>, which was fueled by the strong investor interest in the IPO's 64.18 times subscription and a substantial grey market premium. "While the listing was encouraging, investors should remain cautious due to the company's mixed financial performance. Despite top-line growth, profitability has declined, indicating potential challenges in managing costs and maximizing returns. The IPO's valuation appeared higher, based on the P/E ratio, which might have contributed to the relatively modest listing gain compared to the pre-listing hype. Additionally, the company's status as a complete offer for sale means it won't receive any new funds from the IPO, potentially limiting its ability to accelerate growth or address challenges", she continued. "Those who want to hold it may keep a stop loss at around 350", said Nyati. The road transport sector, under which the company operates, is set to have a GDP of around $184.7 billion by FY2030, rising at a CAGR of 8.2% in the FY2022 to FY2030 period. Naturally, this burgeoning sector will work in favor of the corporate mobility and shared mobility segments, also as employment generation within the Indian tertiary sector remains robust in the medium and long-term. Rising infrastructure construction, be it for public transportation works of intercity metros or national highways, and the resultant traffic snarls will see consumers increasingly opt for shared mobility, especially within Indian metros and Tier 2 cities, a segment that the company has been in operating in for the last 25 years.

ECOS Mobility shares jump over 17% on market debut

<ul><li>Three mainboard companies and six SMEs will begin their <keyword id="10012322" type="General" weightage="100" keywordseo="ipos-this-week" source="Orion">IPOs this week</keyword>.</li><li><keyword id="21372622" type="General" weightage="20" keywordseo="Premier-Energies" source="keywords" meta.keywordsubtype="org" meta.entityname="Premier Energies" meta.hostid="261" meta.entityid="Premier Energies">Premier Energies</keyword> is the biggest IPO that is scheduled to begin this week.</li><li>Here’s everything you need to know about the <keyword id="8964554" type="General" weightage="20" keywordseo="upcoming-ipos" source="Orion">upcoming IPOs</keyword> this week.</li></ul>Initial public offerings (IPOs) are gaining steam once again, with three mainboard companies and multiple small and medium enterprises (SMEs) looking to raise funds from the primary market. The three mainboard companies looking to raise funds from the primary market include Premier Energies, <keyword id="22920122" type="General" weightage="20" keywordseo="ECO-Mobility" source="keywords" meta.keywordsubtype="org" meta.entityname="ECO Mobility" meta.hostid="261" meta.entityid="ECO Mobility">ECO Mobility</keyword> and Bazaaar Style Retail. Apart from this, six SMEs will also launch their IPOs this week, with one SME IPO already underway. In this post, we look at the IPOs hitting Dalal Street this week: <h2>Premier Energies</h2>Premier Energies Limited, a Hyderabad-based manufacturer of solar cells and solar panels is the company looking to raise the highest funds this week. The company is looking to raise ₹2,830.4 crore, including a fresh issue of ₹1,291.40 crore and an offer for sale (OFS) component of ₹1,539 crore. The company’s IPO begins on August 27 and ends on August 29. <div type="Article" hostid="261" msid="112747268" title="Orient Technologies IPO allotment – How to check allotment, IPO GMP, listing date and more" mstype="2" mssubtype="0"></div> <h2>ECO Mobility</h2>Eco Mobility, a chauffeur-driven car rental service provider is looking to raise ₹601.20 crore from the market, all of which is an offer for sale and there is no fresh issue of shares. The IPO opens for subscription on August 28 and closes on August 30, 2024. The company offers chauffeur-driven cars and employee transportation services, focusing on corporates. <h2>Baazar Style Retail</h2>Baazar Style Retail Limited, a fashion retailer that operates in West Bengal and Odisha is looking to raise ₹834.68 crore from the primary market, which includes a fresh issue of ₹148 crore and an offer for sale component of ₹686.68 crore. The company’s IPO begins on August 30 and ends on September 3. <h2><keyword id="18638411" type="General" weightage="20" keywordseo="sme-ipos-this-week" source="Orion">SME IPOs this week</keyword></h2>A total of six SMEs are looking to raise funds from the primary market this week. The Indian Phosphate IPO is already underway, and three IPOs will begin on August 27, with one IPO to begin on August 28 and August 29 each. SMEs raising funds from the market include Aeron Composite, Vdeal Systems, Archit Nuwood Industries and more. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/govt-warns-about-fake-sms-warning-users-to-update-their-pan-what-it-is-and-how-to-stay-safe/articleshow/112795812.cms">Govt warns about fake SMS asking users to update their PAN – what it is and how to stay safe</a> <a href="https://www.businessinsider.in/stock-market/news/orient-technologies-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/112747268.cms">Orient Technologies IPO allotment – How to check allotment, IPO GMP, listing date and more</a> <a href="https://www.businessinsider.in/business/auto/webstories/2024-tvs-jupiter-vs-honda-activa-6g-which-110cc-scooter-should-you-buy/slidelist/112730069.cms">2024 TVS Jupiter vs Honda Activa 6G – which 110cc scooter should you buy?</a>

Upcoming IPOs to look out for this week – Premier Energies, ECO Mobility and more

<keyword id="22894038" type="General" weightage="20" keywordseo="Chauffeur-driven-mobility-provider" source="keywords">Chauffeur-driven mobility provider</keyword> Ecos (India) Mobility &amp; Hospitality Ltd on Friday said it has fixed a <keyword id="19911460" type="General" weightage="20" keywordseo="price-band" source="keywords">price band</keyword> of Rs 318-334 per share for its Rs 601 crore <keyword id="19913114" type="General" weightage="20" keywordseo="initial-public-offering" source="keywords">initial public offering</keyword>. The initial share sale opens for public subscription on August 28 and concludes on August 30 and bidding for anchor investors will open for a day on August 27, the company said in a statement. The company's maiden public issue is entirely an offer for sale (OFS) of 1.8 crore equity shares worth Rs 601 crore, at the upper end of the price band, by promoters -- Rajesh Loomba and Aditya Loomba -- with no fresh issue component. Since it is an OFS, the Delhi-based firm will not receive any proceeds from the <keyword id="19898327" type="General" weightage="20" keywordseo="IPO" source="keywords">IPO</keyword> and the money will go to promoters selling shares. Half of the issue size has been reserved for qualified institutional investors, 35 per cent for retail investors and the remaining 15 per cent for non-institutional investors. Investors can bid for a minimum of 44 equity shares and in multiples of 44 equity shares thereafter. The company has been providing chauffeured car rentals (CCR) and employee transportation services (ETS) to corporate customers for more than 25 years. It operates a fleet of more than 9,000 vehicles from economy to luxury cars. It also provides speciality vehicles such as luggage vans, limousines, vintage cars and vehicles for accessible transportation for people with disabilities. The global corporate mobility market (including ETS and CCR) is poised for steady growth at a projected CAGR (compound annual growth rate) of 9.6 per cent from 2023 to 2030. Besides, India is set to lead the global corporate mobility market in terms of growth with a projected CAGR of 10.7 per cent from 2023 to 2030, the draft paper cited a F&amp;S Report. Equirus Capital and IIFL Securities are the book-running lead managers to the issue. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/webstories/2024-tvs-jupiter-vs-honda-activa-6g-which-110cc-scooter-should-you-buy/slidelist/112730069.cms">2024 TVS Jupiter vs Honda Activa 6G – which 110cc scooter should you buy?</a> <a href="https://www.businessinsider.in/tech/how-to/how-to-add-music-to-instagram-profile/articleshow/112732934.cms">You can now add music to your Instagram profile – here's how</a> <a href="https://www.businessinsider.in/business/auto/news/audi-q8-facelift-launched-in-india-with-a-1-17-crore-price-tag/slidelist/112707701.cms">Audi Q8 facelift launched in India with a ₹1.17 crore price tag</a>

Ecos (India) Mobility's IPO to open on Aug 28; sets price band at ₹318-334/share

<a title_source="IronSource" title_caption="Tomer Bar-Zeev, CEO of IronSource." class="zoomin" href="https://static-ssl.businessinsider.com/image/54999d65dd0895da408b45a9-960/tomer-bar-zeev-ironsource.jpg"></a>IronSourceTomer Bar-Zeev, CEO of IronSource.IronSource, an Israeli tech startup valued at $1.5 billion, <a href="http://blogs.wsj.com/digits/2014/08/11/ironsource-closes-pre-ipo-investment-round-of-up-to-100m/">is believed to be preparing for an IPO in 2015</a>.
The interesting thing about IronSource is that about 90% of the company's mobile revenues come from Android, CEO Tomer Bar-Zeev tells Business Insider, and the company develops for Android first. For most companies, it's the other way around: Products are developed for Apple's iOS system first, with Android coming second.
So this could be a rare example of an IPO being staged on a business model that puts Android first. Going "Android first" appears to be a small trend, particularly in Eastern Europe and Asia, where Apple's share of the market is smaller. Facebook, for instance, is seeing a lot of <a href="http://uk.businessinsider.com/facebook-sees-android-first-app-developer-trend-2014-10">Russian developers create for Android first</a>.
Bar-Zeev tells us that because of the specific market his company caters to, IronSource developed products for Android for about a year and a quarter before it created iOS versions. "We actually launched our iOS solution based on our experience in Android," he says.
An Android-first IPO could be controversial in the Apple development community. Some of them get quite angry at the idea that app and software companies might want to develop products for Android first, or at least at the same time as iOS. For instance, Marco Arment, one of the earliest employees of Tumblr and a prominent app developer in his own right, <a href="http://www.marco.org/2014/11/07/business-insider-maintains-usual-level-of-quality">says he has only met one iOS developer who has switched to Android-first</a>, and that therefore the trend does not exist. Mac World, perhaps inevitably, says "<a href="http://www.macworld.com/article/2846012/stilted-world-views.html">stop trying to pass off your stilted Android fan fiction as reality</a>."
It remains the case that iOS is more lucrative for sales than Android is, <a href="http://ben-evans.com/benedictevans/2014/7/22/app-store-revenue?rq=android%20revenue">according to data crunched by Benedict Evans, of Andreessen Horowitz</a>. This is why, historically, apps have appeared first on iPhone and only later on iOS. But Android has over the years eaten away at Apple's share of the market and now accounts for 83% of all smartphones sold globally, <a href="http://www.gartner.com/newsroom/id/2944819">according to Gartner. </a>
That is likely to swing a few percentage points back in Apple's favour as sales of iPhone 6 enter the numbers in Q4. (Sales of Samsung's competing devices have declined as a result of iPhone 6.) But iPhone 6 is expensive, and all the major smartphone growth is in China and India where consumers are poorer - So Android is going to maintain its global dominance for years to come. Here's what that market share looks like now, per Gartner:
Market share of smartphone sales in units for Q3 2014:
<ul>
<li>Android: 83.1%</li>
<li>Apple iOS: 12.7%</li>
</ul>
Research from BI Intelligence suggests that <a href="https://intelligence.businessinsider.com/android-report-reassessing-the-worlds-top-mobile-platform-2014-10?utm_source=House&amp;utm_medium=Edit&amp;utm_term=M-Android-2014-10-20&amp;utm_content=link&amp;utm_campaign=BIIMobile-">revenue growth in Android is faster than iOS</a>, as the platform improves and because there are simply more customers on it.
This isn't IronSource's fight specifically, of course. But it shows that tech companies can innovate and grow even when one company - Apple, in this case - appears to have locked in an eco-system around it.
IronSource's mobile revenues are a reflection of Android's market share but the Tel Aviv-based company is moving more into iOS as time goes by, Bar-Zeev says. He expects his mobile revenues to look more like 70-30 in favor of Android by the end of 2015. (And Apple fans will be pleased to know that he prefers his iPhone 6 to his Android phone - he carries both.)
The company owns a range of adtech businesses that it has bolted on to its historic core, which was providing reliable "downloader" software - the software you use to download the software you actually want. Downloader software is a lucrative business to be in because all the companies that produce software want their products to land seamlessly on users' devices. They want the data generated by that too, and if they can cross-promote other products than that is even better.
<a title_source="Chris Cunningham / AppsSavvy" title_caption="Chris Cunningham." class="zoomin" href="https://static-ssl.businessinsider.com/image/54999d65dd0895da408b45aa-960/image-2.jpg"></a>Chris Cunningham / AppsSavvyChris Cunningham.This core downloader business is now the underpinning of a larger software "discovery" platform and a set of ad networks. IronSource recently acqui-hired Chris Cunningham, who until late 2013 was the CEO of AppsSavvy, a mobile app ad network. He is now IronSource's CMO. IronSource also has a legacy desktop-web based business.
A source (not Bar-Zeev) tells Business Insider that IronSource's gross revenue run-rate is approaching $350 million annually. The company recently took <a href="http://blogs.wsj.com/digits/2014/08/11/ironsource-closes-pre-ipo-investment-round-of-up-to-100m/">a $90 million investment funding round</a>. If it files for an IPO, that will likely occur in New York.
Bar-Zeev declined to confirm that an IPO was in the works, but he didn't deny it either. "Many Israeli companies are trying to create big, substantial businesses and going public is a step on that roadmap."
Regardless, Android will continue to play a large role in IronSource's future. The company's products allow customers to promote products across devices, and this is more easily done on Android, Bar-Zeev says. And as Android is more dominant in China and India, a large part of IronSource's business will be there. "I'm flying there [China] tomorrow," Bar-Zeev says. "We consider China and India the most important expansion opportunity."

There's A Big 'Android IPO' Coming In 2015

Welcome to our new E-Commerce Insider newsletter, a morning email with the top news and analysis on the e-commerce industry, produced by <a href="https://intelligence.businessinsider.com/" target="_blank">BI Intelligence</a>. 
Click <a href="http://e.businessinsider.com/join/ci/biiecommerceform" target="_blank">here</a> to sign up for E-Commerce Insights today, and <a href="http://e.businessinsider.com/join/ci/biiecommerceform" target="_blank">receive it every morning in your inbox</a>. 

WHAT CONSUMERS BUY ONLINE: E-commerce is capturing a larger share of retail sales, but its share varies by industry. For example, more than half of Americans purchased electronics, books, or clothing online last year, according to a new report from <a href="http://www.experian.com/marketing-services/marketing-services.html">Experian Marketing Services</a>. The types of products people buy online also vary by device. Understanding what type of products people buy on different devices can help inform retailers about where they should be focusing their efforts in mobile commerce.
<ul>
<li>Approximately half of PC and tablet owners have purchased clothing and accessories on their devices, compared to just 28% of mobile phone users. </li>
<li>Forty-nine percent of PC owners have purchased electronics on their PC, compared to 41% of tablet owners, and just 21% of mobile phone users. </li>
<li>Consumers are more likely to purchase books on their tablet than on their PC. The same is also true of music and video games. </li>
</ul>
Experian found that across all categories, consumers are less likely to purchase via a phone than a PC or tablet. This supports <a href="https://intelligence.businessinsider.com/consumers-use-smartphones-and-tablets-differently-for-shopping-2014-2">findings published recently by Nielsen</a> which showed 40% of tablet owners use their device to purchase a physical item, compared to 32% of smartphone owners. However, retailers should not overlook the importance of phones to mobile shoppers for other tasks besides making purchases. Approximately three-fourths of smartphone owners use their device to locate a store, according to Nielsen. (<a href="http://www.experian.com/marketing-services/marketing-services.html">Experian Marketing Services</a>)
TARGET EXPERIMENTS WITH SECOND-SCREEN COMMERCE: Target has partnered with cable network TBS to allow consumers to purchase products that appear in the hit TV show "Cougar Town." The campaign is Target's first major attempt at cashing in on second-screen habits - which is when consumers use their smartphone or tablet while they watch TV. The idea is to showcase products on TV shows which viewers are then encouraged to shop for online. You can check out the dedicated website Target set up for the campaign, <a href="http://shopcougartown.com/">here</a>. (<a href="http://www.mobilecommercedaily.com/target-sets-sights-on-mobile-web-to-crack-second-screen-commerce">Mobile Commerce Daily</a>)
QUOTE OF THE DAY: "In 2014, we are expecting to see online sales across Europe to grow at a rate that is 11.9 times faster than in-store sales. In the UK, online retail is expected to increase by 15.8% this year while the offline segment will grow by only 2.4%." - <a href="http://www.ibtimes.co.uk/british-online-retail-sales-hit-45bn-2014-1440776">Giulio Montemagno</a>, senior vice president of international at RetailMeNot
WELCOME, E-COMMERCE INSIDERS: This is our new newsletter covering all things e-commerce. Please email <a href="mailto:csmith@businessinsider.com">csmith@businessinsider.com</a> with news and tips. 
ALIBABA INVESTS IN TANGO: The mobile messaging app Tango, which allows users to send video messages to each other, along with texts, pictures, games, and music clips, has just raised $280 million. A whopping $215 million of that investment comes from Chinese e-commerce giant Alibaba, which is itself planning to IPO soon. (<a href="http://www.businessinsider.com/tango-raises-280-million-from-alibaba-2014-3">Business Insider</a>)
AMAZON LANDS BOOK DISTRIBUTION DEAL: Amazon is getting back in touch with its roots as a book retailer. The e-commerce giant landed a contract with the Brazil Ministry of Education to "convert and wirelessly distribute more than 200 textbook [titles] to hundreds of thousands of public high school teachers via [Amazon's content distribution technology] Whispercast." Amazon said 40 million electronic copies of the textbooks have already been distributed in Brazil through its service. Selling and distributing books are no longer Amazon's primary source of revenue, but this deal is a reminder that there are still plenty of untapped opportunities in emerging e-commerce markets. (<a href="http://betanews.com/2014/03/18/amazon-lands-major-textbook-distribution-deal-in-brazil/">BetaNews</a>)
AEROPOSTALE'S ONLINE SALES WERE FLAT IN 2013: Clothing retailer Aeropostale reported online sales of roughly $218 million in 2013 - virtually unchanged from the year prior. However, offline sales declined, meaning the Web accounts for a slightly larger share (now 10%) of the retailer's total sales. (<a href="http://www.internetretailer.com/2014/03/19/aeropostales-2013-web-sales-are-flat">Internet Retailer</a>) 
QUIDSI REBRANDS NICHE E-COMMERCE SITE: Quidsi, which is owned by Amazon, is a consortium of niche e-commerce sites. The company is now relaunching its eco-friendly products site Vine.com under the name <a href="http://www.vine.com/">Vine Market</a>. In addition to selling eco-friendly products and groceries, Vine Market will now cater to the approximately 15 million Americans with food allergies or restricted diets. Vine Market is among a group of e-commerce sites owned by Quidsi, including Diapers.com, Soap.com, Wag.com, and Casa.com. By way of its ownership of Quidsi, Amazon is able to glean insights into how consumers shop in each of these highly specialized verticals. (<a href="http://techcrunch.com/2014/03/19/amazon-owned-quidsi-debuts-vinemarket-com-an-online-grocery-store-catering-to-food-allergy-sufferers/?ncid=rss">TechCrunch</a>) 
EBAY INVESTOR WANTS TO TAKE PAYPAL PUBLIC: Activist investor and eBay board member Carl Icahn wants eBay to sell off 20% of PayPal to the public. Icahn argues that by splitting up eBay and PayPal the two companies can focus on separate plans for growth. However, Icahn has also said that he wants two more board seats at eBay and that the current board is a disaster. Thus, some are theorizing that Icahn's critiques about the company have more to do with his control over corporate governance rather than future growth. (<a href="http://www.shareholderssquaretable.com/carl-c-icahn-releases-statement-on-ebay/">Carl Icahn</a>) 
Here's what else BI Intelligence subscribers are reading …
<a href="https://intelligence.businessinsider.com/three-in-four-merchants-plan-to-have-a-mobile-app-for-online-shopping-by-2015-2014-3">Three In Four Merchants Plan To Have A Mobile Shopping App By The End Of The Year</a>
<a href="https://intelligence.businessinsider.com/wechat-chinas-messaging-juggernaut-sees-accelerated-growth-2014-3">WeChat, China's Messaging Juggernaut, Sees Accelerated Growth</a>
<a href="https://intelligence.businessinsider.com/wearable-apps-the-race-to-build-a-robust-app-ecosystem-around-a-new-device-category-2014-3">Wearable Apps: Inside The Race To Create A New App Ecosystem</a>
<a href="https://intelligence.businessinsider.com/alibabas-chinese-e-commerce-sites-quadrupled-sales-volume-on-their-platforms-in-three-years-2014-3">Alibaba's Chinese E-Commerce Sites Quadrupled Sales Volume On Their Platforms In Three Years</a>
<a href="https://intelligence.businessinsider.com/heres-how-much-merchants-could-save-globally-if-they-used-a-bitcoin-payments-system-2014-3">Here's How Much Lower Fees Would Be If Merchants Used A Bitcoin Payments System</a>
<a href="https://intelligence.businessinsider.com/more-than-half-of-all-us-retail-sales-this-year-will-either-be-influenced-by-or-occur-online-2014-3">The Web Will Influence More Than Half Of All US Retail Sales This Year</a>
<a href="https://intelligence.businessinsider.com/less-than-one-third-of-social-marketers-use-paid-analytics-tools-2014-3"> </a>

Mobile Has Overtaken PCs As An E-Commerce Sales Channel In Some Product Categories

<ul><li><keyword id="19897633" type="General" weightage="20" keywordseo="Telegram" source="keywords" meta.keywordsubtype="org" meta.entityname="Telegram" meta.hostid="261" meta.entityid="Telegram">Telegram</keyword> has come under the scanner of the Indian government for gambling and extortion.</li><li>The messaging app is being investigated over its alleged misuse in criminal activities.</li><li>Telegram founder <keyword id="21332555" type="General" weightage="20" keywordseo="Pavel-Durov" source="keywords">Pavel Durov</keyword> was recently arrested in Paris by the French authorities.</li></ul>Pavel Durov, the co-founder and the chief executive officer of popular messaging platform Telegram was arrested in Paris earlier this month. The app has now come under the scanner in India. According to a <a href="https://www.moneycontrol.com/technology/telegram-being-investigated-in-india-over-extortion-gambling-concerns-article-12806508.html">report</a> by Moneycontrol, Telegram is being investigated by the government over its alleged misuse in criminal activities such as gambling and extortion. The ongoing investigation could also end up with Telegram being banned in India as per a government official. "The Indian Cybercrime Coordination Centre (I4C) and MeitY have been looking into P2P communications on Telegram," said a government official to Moneycontrol. <div type="Article" hostid="261" msid="112798622" title="Upcoming IPOs to look out for this week – Premier Energies, ECO Mobility and more" mstype="2" mssubtype="0"></div> According to the report, the Ministry of Electronics and Information Technology (MeitY) is investigating criminal activities such as extortion and gambling on the platform. <h2>Why has Telegram come under the scanner now?</h2>While Telegram has been blamed for such activities in the past, the investigation might have gained steam as the UGC-NET exam paper was reportedly being sold on Telegram for ₹5,000 to ₹10,000 after being leaked. Durov, 39, was detained by the French authorities at the Bourget Airport. Durov was wanted under a French arrest warrant due to the lack of moderation on Telegram, which allegedly led to the platform being used for money laundering, drug trafficking and sharing pedophilic content. The arrest was criticised by several people, including Tesla cofounder Elon Musk. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/webstories/premier-energies-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112803763.cms">Premier Energies IPO – Price band to risk factors, all you need to know</a> <a href="https://www.businessinsider.in/stock-market/news/upcoming-ipos-to-look-out-for-this-week-premier-energies-eco-mobility-and-more/articleshow/112798622.cms">Upcoming IPOs to look out for this week – Premier Energies, ECO Mobility and more</a> <a href="https://www.businessinsider.in/tech/news/govt-warns-about-fake-sms-warning-users-to-update-their-pan-what-it-is-and-how-to-stay-safe/articleshow/112795812.cms">Govt warns about fake SMS asking users to update their PAN – what it is and how to stay safe</a>

Telegram comes under the scanner in India for extortion and gambling – will it be banned in India?

<ul><li>Amazon has launched the beta of the Rufus AI assistant in <keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword>.</li><li>The <keyword id="21107909" type="General" weightage="20" keywordseo="e-commerce-giant" source="keywords">e-commerce giant</keyword> claims that Rufus will be able to help customers shop efficiently on its platform.</li><li>The AI assistant will be rolled out to mobile app users in a phased manner in the coming weeks.</li></ul>E-commerce giant Amazon has launched a beta version of its Rufus AI assistant in India. The AI-powered <keyword id="22954317" type="General" weightage="20" keywordseo="conversational-shopping-assistant" source="keywords">conversational shopping assistant</keyword> is aimed at answering user’s questions and help them shop on the e-commerce platform. Rufus AI will be initially available to selected customers and a wider rollout is expected to occur in the coming weeks. The AI assistant is currently limited to the mobile application of Amazon. Rufus has been available in the US for some time now and as per the company, customers has already asked the AI assistant “tens of millions” of questions. As per the company, Rufus can answer broad questions like “things to consider when buying a washing machine”, to comparisons such as “should I get a fitness band or a smart watch?” to more specific questions such as “are these durable?”. “Rufus is an expert shopping assistant trained on Amazon’s product catalogue and information from across the web, to answer customer questions on shopping needs, products, and comparisons, make recommendations based on this context, and facilitate product discovery in the same Amazon shopping experience customers use regularly,” Amazon said in a post. The company claims that it will be able to help customers easily find products to meet their needs. Customers will also be able to ask questions related to special occasions such as “gifting ideas for my wife’s birthday” or “what do I need for my first hike". Rufus will also be able to answer questions related to a particular product, such as “what do customers say about this product?”, which will essentially create a quick summary of the product’s customer reviews. <h2>How to use Rufus AI</h2>The Rufus AI assistant is being rolled out in a phased manner. Once you get access to the beta, you can click on the icon in the bottom right-hand corner on Amazon’s mobile app and a Rufus chat dialogue box will appear on your screen. “We are excited about the potential of generative AI and will continue testing new features to make it even easier to find and discover, research, and buy products in the Amazon.in marketplace,” the company added. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/webstories/eco-mobility-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112836216.cms">ECO Mobility IPO – Price band to risk factors, all you need to know</a> <a href="https://www.businessinsider.in/tech/mobile/news/apple-iphone-16-to-be-launched-on-september-9-heres-everything-we-know-so-far/articleshow/112828818.cms">Apple iPhone 16 to be launched on September 9 – here’s everything we know so far</a> <a href="https://www.businessinsider.in/tech/news/telegram-comes-under-the-scanner-in-india-for-extortion-and-gambling-will-it-be-banned-in-india/articleshow/112807370.cms">Telegram comes under the scanner in India for extortion and gambling – will it be banned in India?</a>

Amazon Rufus AI assistant beta launched in India, will answer customer’s questions

Nepals Ministry of Culture, <keyword id="20048" type="CITY" weightage="20" keywordseo="tourism">Tourism</keyword> and Civil Aviation has put a ban on taking and circulating pictures, videos and filming of <keyword id="10904473" type="UNKNOWN" weightage="20" keywordseo="other-climbers">other climbers</keyword> or members of expedition teams on Mt Everest other than of oneself starting this season. Issuing a notice on Wednesday, the <keyword id="254034" type="COMPANY" weightage="20" keywordseo="department-of-tourism">Department of Tourism</keyword> put the ban, saying that each climber can take, share and make images and videos of their group or of oneself but they will face action if they take, make and share photos of other climbers without the department's consent. In the wake of a picture that went viral on May 20i9 about the "traffic jam" on Mt Everest taken by one record holder climber, Nirmal Purja, Nepali officials have been facing other similar kinds of criticism by the international media over threat to the <keyword id="6426894" type="PERSON" weightage="20" keywordseo="Himalayan">Himalayan</keyword> eco-system. The mountaineering community and some international media have criticized the hollow management of the Nepal government in managing the expedition on Mt Everest after the photo, "traffic jam in Everest" went viral. Later, several other climbers took pictures of other climbers, filming at the top of Mt Everest and circulated them on the Internet. Officials said some other attempts were made to defame Mt Everest's tourism management by circulating the pictures like piling of garbage at <keyword id="1061461" type="LOCATION" weightage="20" keywordseo="Everest-base-camp">Everest base camp</keyword>, an avalanche in Everest during the earthquake in 2015. "Such activities have given negative publicity about the Everest so we decided to put a ban on taking pictures, movie and filming in the Everest by others," Mira Acharya, an official at Nepal's Tourism Department told the Nepali media, "to stop these kinds of negative publicity, we have come up with the new guideline that includes <keyword id="10904474" type="UNKNOWN" weightage="20" keywordseo="other-mountains">other mountains</keyword> in the country as well". Nepal has eight mountains whose heights are higher than 8,000 metres and Nepal witnesses a huge rush of mountaineers during the climbing season that generally falls in mid-May. Similarly, the new guideline also stated that any climber should have appropriate medical and health conditions for climbing the mountains. In the past, due to some climbers, who did not have the appropriate health and medical conditions to climb the mountains, emergency rescue operations had to be mounted. "We honour the personal freedom of climbers but that does not mean they can post images and videos of others without their consent. Either through commercial cameras or mobile sets, all such activities have been banned," Acharya told the Nepali media here. If anyone intends to disseminate still photographs and videos of people, avalanches and even dead bodies on the mountain among other things, they must secure consent from the Department of Tourism, the government agency that issues Everest climbing permits, the <keyword id="18568" type="COMPANY" weightage="20" keywordseo="kathmandu">Kathmandu</keyword> Post quoted the official. According to Ang Tsering Sherpa, former president of Nepal Mountaineering Association, though, it would not be possible to prevent the dissemination of videos or photos taken on Everest because millennials stand out for their use of technology, and even the older generation has embraced digital life. "You make a click here and in an instant, your photo goes around the world," he told the newspaper. A total of 6,507 mountaineers have climbed Everest from the Nepal side since Tenzing Norgay Sherpa and New Zealander <keyword id="134414" type="PERSON" weightage="20" keywordseo="Edmund-Hillary">Edmund Hillary</keyword> first set foot atop the world's highest peak in May 1953. The year 2019 was significant in terms of records set on the world's tallest peak. On May 22 and 23, a total of 223 and 212 climbers reached the summit, which has been recorded as the highest and the second-highest number of climbers on the top of Everest on any particular day. There were no expeditions last year due to the Covid-19 pandemic, which caused Nepal loss of millions in revenue, while thousands of people in the Himalayan region were rendered jobless. Foreigners pay $11,000 for a permit to climb Everest and spend anywhere between $40,000 and $90,000 for the entire expedition. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/checkout-review-of-oppo-fitness-band-related-to-design-performance-price-and-battery-life/articleshow/81423414.cms">Oppo Band Style review – getting the basics right with a twist of flair</a> <a href="https://www.businessinsider.in/international/news/narendra-modi-joe-biden-yoshihide-suga-and-scott-morrison-are-set-to-meet-for-the-first-ever-quad-leaders-summit-on-march-12/articleshow/81424117.cms">The first-ever leaders summit of the QUAD may be another signal that it's ready for something more formal</a> <a href="https://www.businessinsider.in/stock-market/news/how-to-check-share-allotment-status-of-mtar-technologies-ipo/articleshow/81424102.cms">MTAR Technologies IPO: Here is how to check share allotment status</a> <a href="https://www.businessinsider.in/tech/enterprise/news/tcs-cfo-explains-how-the-role-of-a-finance-head-has-been-changed-by-the-pandemic/articleshow/81423884.cms">EXCLUSIVE: TCS CFO explains how the role of a finance head has been changed by the pandemic</a>

Nepal's is banning Mount Everest climbers from taking pictures and videos of 'others' without consent

<ul class="summary-list"><li><keyword id="1522108" type="PERSON" weightage="60" keywordseo="Aswath-Damodaran">Aswath Damodaran</keyword> worries investors have grown complacent and might get burned.</li><li>The <keyword id="1580883" type="ORGANIZATION" weightage="60" keywordseo="NYU-Stern">NYU Stern</keyword> finance professor said <keyword id="6354947" type="UNKNOWN" weightage="60" keywordseo="bitcoin">bitcoin</keyword> fails as both a currency and a store of value.</li><li>The <keyword id="6355253" type="UNKNOWN" weightage="60" keywordseo="federal-reserve">Federal Reserve</keyword> has become too cocky and transparent, Damodaran said.</li></ul>Finance professor Aswath Damodaran warned investors not to get complacent, weighed in on Tesla's prospects, and argued that <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=microsite" id="docs-internal-guid-f4017810-7fff-dbc6-973a-2b8f6e0ea721">bitcoin</a> fails as both a currency and a store of value in a <a href="https://www.realvision.com/shows/the-interview/videos/valuations-matter-intrinsic-value-in-the-age-of-unreason">RealVision interview</a> released this week. The professor at NYU Stern School of Business - whose nickname is the "Dean of Valuation" - also downplayed <keyword id="6358963" type="DEFINITION" weightage="60" keywordseo="Warren-Buffett">Warren Buffett</keyword>'s recent performance, touted "big tech" companies as inflation havens, and cautioned that the Federal Reserve is overestimating its powers. <h2>Here are Damodaran's 11 best quotes from the interview, lightly edited and condensed for clarity:</h2>1. "We've been in a market that's been so good for so long that people have become sloppy and lazy - whether it's in the form of SPACs or buying deep out-of-the-money call options. They think making money is easy, and <keyword id="31671" type="CITY" weightage="100" keywordseo="markets">markets</keyword> have a way of fixing that thinking very quickly. Be cautious, because the exact forces that lead you to speculate might be the forces that hold the seeds for your downfall." 2. "This market is being driven by mood and momentum, and even revenge. Think of what drove those Redditor investors to drive GameStop up: It's not because they thought GameStop was worth more, they wanted to take revenge on hedge funds. Mood and momentum is being reflected in things like SPACs, or what happened to NFTs, or what's happening to bitcoin." 3. "Warren Buffett has been a pretty average investor for the last 20 years. The portion of the market which has delivered returns has been the portion of market that he's been least comfortable dealing with - growth companies where it's all about the future."<a href="https://www.businessinsider.com/growth-stock-investing-ideas-from-mutual-fund-manager-gerry-frigon-2021-6"></a> Read more: <a href="https://www.businessinsider.com/growth-stock-investing-ideas-from-mutual-fund-manager-gerry-frigon-2021-6">Gerry Frigon's stock fund has soared nearly 700% in 14 years. Here's what he's buying to bring his clients another decade of outsized profits.</a> 4. "We have all these people telling you to buy a quality company. That's really bad advice. If you buy a quality company that everybody else recognizes as a quality company, you're going to pay through the roof. Good companies can be bad investments, and bad companies can be good investments. The sooner we recognize that, the healthier investing is going to be." 5. "As a currency, <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=microsite" id="docs-internal-guid-f4017810-7fff-dbc6-973a-2b8f6e0ea721">bitcoin</a> has really not worked, and it was never designed to work. When did you use it to buy a house, your lunch, your coffee? The answer is almost never, because it's an incredibly inefficient currency." - underscoring the effort and energy required to complete bitcoin transactions. 6. "Between February 14 and March 20 last year, we were in full-scale panic and <keyword id="6354298" type="DEFINITION" weightage="60" keywordseo="Stocks">stocks</keyword> lost 35% of value, but gold held its value. You know what bitcoin did in those six weeks? It was down 50%. When stocks came back, bitcoin came back even more strongly. In 2020, bitcoin behaved like a very risky stock, not like gold, not like a collectible." - arguing that bitcoin isn't an uncorrelated asset that investors can use as a haven during crises. 7. "The story being told about Tesla by the bulls is that it's not just an automobile company, it's a revolutionary company that's going to change the way everything gets done. The people who hate the company think it's a scam, that Elon Musk is a magician who's pulling wool over people's eyes. Both sides are wrong; there is a good company at the core, but Tesla has lots of issues to get through to become a great company. I can't get to a story where I can get a $600 billion value, but I can get to a story that gets me a $250 billion value, which a year ago would have made the stock cheap." 8. "SPACs reflect other trends in society, including how social media and celebrity worship have taken over every aspect of our lives. SPACs are the coming together of that celebrity worship and social media into IPO investing." - Damodaran gave the example of Shaquille O'Neal advising and promoting the <keyword id="1817616" type="ORGANIZATION" weightage="60" keywordseo="SPAC">SPAC</keyword> buying WeWork. Read more: <a href="https://www.businessinsider.com/stock-market-next-short-squeeze-opportunities-how-to-find-fintel-2021-6">The CEO of investment-research firm Fintel shares 20 heavily shorted stocks primed for a squeeze, based on an explorer he built to help retail investors identify opportunities</a> 9. "The Fed is like the Wizard of Oz, its power comes from the perception that it has power. My worry is that the Fed is becoming so open in making statements that they really can't back up with their power. I think they've drank the Kool-Aid. They've read their own press, they think they're actually more powerful than they really are. That's a dangerous place for a central bank to be." 10. "Central bankers are acting like drunks at a party, printing money like crazy." 11. "The big tech companies are best equipped to deal with inflation. I wouldn't go to a manufacturing company, I won't go to Exxon Mobil. The Facebooks and the Googles, the Apples of the world fit the bill much better, because they have substantial cash flows. They also have pricing power." <a href="https://forum.businessinsider.in/">For a more in-depth discussion, come on over to Business Insider Cryptosphere</a> — a forum where users can deep dive into all things crypto, engage in interesting discussions and stay ahead of the curve. SEE ALSO: <a href="https://www.businessinsider.in/cryptocurrency/news/investments-in-crypto-hit-17-billion-in-the-first-six-months-of-2021/articleshow/83740327.cms">Investments in crypto hit a new record of $17 billion, but Indian funds are yet to jump on the bandwagon</a> <a href="https://www.businessinsider.in/cryptocurrency/news/indian-cryptocurrency-exchange-wazirx-has-listed-shiba-inu-tokens-for-trading-in-indian-rupees/articleshow/82731429.cms">Chiacoin claims to be an eco-friendly cryptocurrency — here's how it works</a> <a href="https://www.businessinsider.in/cryptocurrency/news/here-is-why-a-ban-on-cryptocurrencies-may-not-be-even-possible/articleshow/82741310.cms">Is a ban on cryptocurrencies even possible?</a> <a href="https://www.businessinsider.in/cryptocurrency/news/latin-america-and-south-asia-show-two-ends-of-the-crypto-regulatory-spectrum/articleshow/83638437.cms">Even as Latin America embraces Bitcoin, Southeast Asia is clamping down on cryptocurrencies</a>

Finance professor Aswath Damodaran warns investors not to get cocky, dismisses bitcoin as a currency or store of value, and blasts the Fed in a new interview. Here are the 11 best quotes.

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