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We’ve all been there—hungry, scrolling through <keyword id="20299302" type="General" weightage="20" keywordseo="food-delivery" source="keywords">food delivery</keyword> apps, trying to satisfy our cravings. And among the many options, one name stands out: <keyword id="19901323" type="General" weightage="100" keywordseo="Zomato" source="keywords">Zomato</keyword>. And huge credit for this goes to those cheeky push notifications. A household name in India and many parts of the world, Zomato has become synonymous with food delivery. But have you ever wondered where the name “Zomato” actually came from and what is the reason behind those push notifications that seem to be flirting with you? <keyword id="19901325" type="General" weightage="20" keywordseo="Deepinder-Goyal" source="keywords">Deepinder Goyal</keyword>, the CEO of the <keyword id="23915877" type="General" weightage="20" keywordseo="food-tech-giant" source="keywords">food tech giant</keyword>, answered these questions on the latest episode of The <keyword id="21100902" type="General" weightage="20" keywordseo="Great-Indian-Kapil-Show" source="keywords">Great Indian Kapil Show</keyword> on Netflix. <h2>How was Zomato’s name born</h2>In a conversation with comedian Kapil Sharma, Goyal shared how the name “Zomato” was born out of necessity rather than creativity. The platform’s founders had originally envisioned the name to have something to do with “tomato” — a staple ingredient in many dishes, and a word that’s easily recognisable. But here’s the twist: when they went to register the domain, tomato.com was already taken! Not to be deterred, they simply tweaked the letter and came up with “Zomato” — a name that not only worked but ended up being memorable, too. The “Z” was added for that perfect tech-savvy ring to the name, and the rest, as they say, is history. And while Goyal didn’t spill the final details about whether it’s pronounced “Zomato” or “Zomaato,” he did confirm one thing — it’s all about how you want to say it. Just like a ripe tomato, the name has become part of the cultural fabric. The debate about the exact pronunciation, as seen in hilarious ads with cricketers Harbhajan Singh and Sreesanth, only adds to the charm. <h2>About Zomato’s <keyword id="23915874" type="General" weightage="20" keywordseo="cheeky-notifications" source="keywords">cheeky notifications</keyword></h2>That’s not all. The Zomato CEO also talked about another amusing aspect of the Zomato experience—those cheeky, flirtatious push notifications. We’ve all received a notification that says, “Your food is just 10 minutes away!” But did you ever stop to think about why Zomato’s notifications always seem to have a bit more personality? Well, it turns out the company’s marketing team, full of youthful energy and passion, took Deepinder’s advice to heart. He had asked them to “build a relationship with the customer,” inspired by a book he read—though he himself wasn’t entirely sure what that meant. The results? A fun, almost flirtatious tone that’s become a signature of Zomato’s communication style. “Our marketing team is very young. They don't have any background in marketing. They are passionate people. So, I briefed them one day to make a relationship with the customer. Even I didn't know what it meant. I don't have any marketing background. I read a book and it said to make a relationship with the customer. I told them. They took me seriously,” Goyal said during the show. So, next time you get that slightly cheeky notification from Zomato, you’ll know that it’s not just about food—it’s about building a connection with you.

I asked my young marketing team to 'make a relationship' with customers, they took me seriously: Zomato’s Deepinder Goyal on cheeky notifications

When A (name kept anonymous) bought tickets for the 2025 <keyword id="22044624" type="General" weightage="20" keywordseo="Coldplay-concert" source="keywords">Coldplay concert</keyword> in Mumbai from a certain “concert organizer” account on <keyword id="19900288" type="General" weightage="20" keywordseo="instagram" source="keywords">Instagram</keyword>, they were over the moon. Yes, the tickets were exorbitantly expensive, way above the prices advertised on <keyword id="20215809" type="General" weightage="100" keywordseo="BookMyShow" source="keywords" meta.keywordsubtype="org" meta.entityname="BookMyShow" meta.hostid="261" meta.entityid="BookMyShow">BookMyShow</keyword> (BMS), the official ticketing partner. But so what? What mattered was that they could finally attend Coldplay's concert. At 12 noon on September 22, when bookings for Coldplay’s 2025 India leg of “Music of the Sphere” world tour had commenced, A was also in line, having logged in since 11:30 am, from 4 different screens and through 6 cousins. But God, and BMS were in no mood to reward her efforts and patience. The ticket sale lasted for a mere few seconds, before the site crashed and all tickets were sold out. Turns out, even the second time wasn’t the charm for them. The first time, too, A had not been able to get tickets for Diljit’s Dil-luminati India tour, which had gone live earlier last month. They had applied for an HDFC Pixel credit card to access the early-bird offer, but it was as if luck was taunting them “vibe teri meri na mildi aa”. could not get tickets for Diljit’s concert as well, which had also vanished within minutes of going live, much like Coldplay's. That’s why, when they saw that tickets for both Diljit and Coldplay were being sold by various Instagram accounts, despite showing as sold out on <keyword id="20496317" type="General" weightage="20" keywordseo="Zomato-Live" source="keywords" meta.keywordsubtype="org" meta.entityname="Zomato Live" meta.hostid="261" meta.entityid="Zomato Live">Zomato Live</keyword> and BookMyShow, it seemed magical to A. And per Coldplay, “If you were to ask me, after all that we've been through. Still believe in magic?”, the only acceptable response is “Yes I do, of course I do!” So, they went ahead, agreed to pay Rs 35,000, and bought Coldplay tickets which would’ve cost them Rs 6,450 via BMS. A steep price to pay, but at least they had their ticket to “an experience of a lifetime!”. As it is, the band had announced its retirement post its 12th album, and the band had just launched its 10th album, "Moon Music". <h2>BookMyShow to “fix” scalpers?</h2>But this morning, BMS startled many people like A by stating that unethically sourced tickets (read: tickets not directly booked via BMS) could be canceled. The platform had already filed an FIR to this effect with the <keyword id="19906039" type="General" weightage="20" keywordseo="Mumbai-police" source="keywords">Mumbai police</keyword> on October 2, 2024, against the rampant “ticket scalping and black marketing of tickets for Coldplay's <keyword id="22420646" type="General" weightage="20" keywordseo="Music-of-the-Spheres" source="keywords">Music Of The Spheres</keyword> World Tour 2025 in India”. The ticketing platform added that they had provided details of all resellers that had caught their sight, including independent individuals reselling tickets for Coldplay’s tour across social media platforms such as Instagram (where A had purchased their tickets from) and WhatsApp. Not just these small resellers, but multinational ticket exchange and <keyword id="23273060" type="General" weightage="20" keywordseo="ticket-resale" source="keywords">ticket resale</keyword> platform <keyword id="23278340" type="General" weightage="20" keywordseo="viagogo" source="keywords" meta.keywordsubtype="org" meta.entityname="viagogo" meta.hostid="261" meta.entityid="viagogo">Viagogo</keyword>, and its parent company StubHub Holdings have also been served legal notices by Zomato Live and BMS. While Zomato Live has not commented on if the tickets purchased via Viagogo or such scalpers would be canceled or not, it is no secret that hours after the tickets were shown as sold out on these official sites, tickets for both Diljit and Coldplay’s concert were available on Viagogo, albeit at sky-high prices. Even as of today, you can buy tickets for Coldplay’s concert in Mumbai’s DY Patil Stadium on January 19th, 2025 on Viagogo. The catch? You should be willing to empty your pockets. Consider this. Tickets for level 2 stand E were priced at Rs 9,000 on BMS. On Viagogo, the tickets for this specific category start at Rs 54,431, and go as high as Rs 1,89,512. The tickets A bought were also originally priced at Rs 6,450. But on Viagogo, the starting range is Rs 31,288, going up to Rs 1,13,207. Talk about earning 5x-6x returns! In comparison, the ticket prices offered by these Instagram reseller accounts, also termed as scalpers, might look benign, even generous. But at the end of the day, scalpers are also looking to rake in profits, which they earn by selling these tickets in bulk i.e. lots of 5-10 tickets at once. After all, who is attending concerts alone? The slim margins on individual tickets are well cushioned by the extra bucks brought in by the higher quantities of tickets sold at once. Consider this: <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Phase/Level (For Diljit’s Concert) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Original Price (As shown on Zomato Live) (In Rs) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Prices offered by an IG account reselling tickets for Delhi (26th October, 2024) (In Rs) </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Silver </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1,499 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2,399-3,999 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Gold Standing (Phase 1,2,3) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> 4,999-8,999 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">7,999- 10,000 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Fan Pit (Standing) Phase 1 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">12,999 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">20,000 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Fan Pit (Standing) Phase 2 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">19,999 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">25,000 </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>Source: Zomato Live, IG accounts of resellers/scalpers <h2>Modus Operandi</h2>Most scalpers don't demand the entire money upfront. In A’s case, the scalper demanded a 20% advance for booking confirmation. Others ask for as much as 50% of the booking amount. Once that’s done, the customer would get an e-ticket on their registered email ID, which will mention their seat number and booking ID. Then, once this customer pays the remaining amount, the physical tickets will be dispatched to their registered address. Mind you, these physical tickets are important. Just e-tickets won't make the cut for both Coldplay and Diljit. You would not be able to enter the venue if you don't have this physical ticket or a wearable band. So, if the tickets are not delivered to your place before the concert, you’d be left stranded, even after paying all that money. Also, dont be surprised with a constant, relentless barrage of messages and calls, if you so much as just inquire about the tickets. Most scalpers, in a bid to quickly close on the opportunity, call incessantly, not giving buyers enough headspace to make rational, or for that matter, rationally priced decisions. But even after all the hassle, there is no guarantee of timely, or even delivery. While there were multiple screenshots on each of these pages, showing confirmation from various Instagram users saying that tickets had been delivered, but is that convincing proof enough? Or legal enough? <h2>Its legit, its not legit-No one knows! </h2>Well, it's a gray area, truth be told. But Germaine Pereira, Partner, Solomon &amp; Co. underlines that if the buyer is willing to pay a premium or higher price than the ticket’s original face value, it is valid, and perfectly legal under the Indian Contract Act, 1872 “Ticket resale or scalping, where individuals or entities buy tickets for specific events, and then resell such tickets at a higher price to make a profit, is valid if it meets the essential elements of a contract-offer, acceptance, consideration, and lawful object. Unless there is a clearly established motive of cheating or fraudulent inducement or exorbitant pricing of tickets in the secondary markets, there’s nothing wrong”, continues Pereira. State governments are also largely reluctant to establish regulations in these waters, since a resale would entail double entertainment tax, which only adds to their coffers. Says advocate Siddharth Chandrashekhar, Senior Panel Counsel at Bombay High Court, "Although some state police forces, like in Tamil Nadu, Karnataka and Punjab, have cracked down on illegal sales, arrests are rare, and the absence of cohesive legislation leaves enforcement inconsistent. Black marketing or reselling of live event tickets at escalated prices constitutes an offense under the Bharatiya Nyaya Sanhita 2023 for petty crimes, the Consumer Protection Act 2019 for unfair trade practices, and the Competition Act 2002 for abuse of dominant position”, Chandrashekhar highlights. “While Maharashtra’s Entertainment Duty Act, 1923, attempts to curb resale for some events, most states lack clear laws addressing scalping. Concert ticket scalping in India operates in a regulatory vacuum. With no specific national laws, opportunistic sellers can legally resell tickets for exorbitant sums, with no recourse for buyer”, he signs off.

'Will my tickets get canceled now?' people who purchased tickets from scalpers during the Diljit-Coldplay mania ask

<ul><li><keyword id="6357979" type="General" weightage="100" keywordseo="mutual-funds" source="Orion">Mutual funds</keyword> raised stakes in the financial services sector as economic activity and consumer demand picked up in July.</li><li>Research reports suggest that the sharp rally in July led to profit booking by mutual funds and investors alike.</li><li>Overall, the Indian mutual fund industry has ₹37.8 lakh crore of assets under its management.</li></ul>Mutual funds continued to plough in money into equities in July, after making purchases of nearly $2 billion in June. And, they are betting on financial services firms the most, as their stake in the overall mutual fund holdings increased to 31.56% from 30.56% in July. According to data from AMFI and ICICI Direct, mutual funds invested over $1 billion in July, and their biggest purchases included <keyword id="830092" type="General" weightage="80" keywordseo="zomato" source="Orion">Zomato</keyword>, <keyword id="268065" type="General" weightage="80" keywordseo="hdfc-life-insurance" source="Orion">HDFC Life Insurance</keyword>, and United Phosphorus, among others. Zomato’s purchases came after the stock experienced a major correction after the lock-in period ended in July, <a href="https://www.businessinsider.in/stock-market/news/why-is-zomato-share-price-down-today/articleshow/93101975.cms">resulting in a 22% correction</a>. Another interesting entry into the list is Wipro, which <a href="https://www.businessinsider.in/business/corporates/news/wipros-net-profit-drops-12-drop-in-q1-as-recession-fears-grip-its-non-us-clients/articleshow/93006573.cms">missed analyst estimates in terms of growth and margin</a>. Its rivals TCS and Infosys have seen mixed movements, with some fund houses paring their stakes while others have added. Overall, the Indian mutual fund industry invested ₹8,900 crore into Indian equities in July, down from ₹15,500 crore in June. “After having seen lows in previous months, the sharp rally in July led to many investors shying away from putting incremental money and few exiting as well during recovery,” said a report by ICICI Direct. Some other of the biggest names that mutual funds purchased includes Rakesh Jhunjhunwala-backed Star Health and the government-owned National Aluminium Company, among others. “On a month-on-month basis, the weights of NBFCs, private banks, consumer, retail, automobiles, capital goods, PSU banks, metals, cement, and media increased, while the weights of oil &amp; gas, technology, telecom, healthcare, and utilities moderated,” said a report by Motilal Oswal. Overall, according to the Association of Mutual Funds in India (AMFI), the total assets under management (AUM) of the Indian mutual fund industry increased to ₹37.8 lakh crore in July 2022 from ₹35.6 lakh crore in June 2022. There has been a sharp growth in MF AUMs which grew at around 90% in the last five years. In the past decade, AUMs multiplied by over five times, from ₹7 lakh crore in July 2012 to ₹37.8 lakh crore in July 2022. <div type="image" title="Mutual fund large cap July 2022." msid="93651789" hostid="261" caption="&amp;lt;p&amp;gt;Mutual fund activity in the large cap segment&amp;lt;/p&amp;gt;"></div> <div type="image" title="Mutual fund midcap July 2022." msid="93652196" hostid="261" caption="&amp;lt;p&amp;gt;Mutual fund activity in the midcap segment&amp;lt;/p&amp;gt;"></div> <div type="image" title="Mutual fund small cap July 2022." msid="93652308" hostid="261" caption="&amp;lt;p&amp;gt;Mutual fund activity in the small cap segment&amp;lt;/p&amp;gt;"></div> <div type="javascript" title="Custom" contenttype="Text"><cdata><![CDATA[]]></cdata></div> SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/adani-transmission-becomes-first-group-company-to-hit-4-lakh-crore-market-cap/articleshow/93593431.cms">Adani Transmission becomes first group company to hit ₹4 lakh crore market cap</a> <a href="https://www.businessinsider.in/stock-market/news/rakesh-jhunjhunwala-backed-concord-biotech-files-for-an-ipo/articleshow/93594255.cms">Rakesh Jhunjhunwala-backed Concord Biotech files for an IPO</a> <a href="https://www.businessinsider.in/stock-market/news/checkout-rakesh-jhunjhunwala-top-stocks-current-valuation/articleshow/93589814.cms">Rakesh Jhunjhunwala’s top five stocks delivered 3 times the returns Nifty50 did</a>

Mutual funds tank up on financial services and retail stocks

New Delhi, The <keyword id="76562" type="COMPANY" weightage="20" keywordseo="Confederation-of-All-India-Traders">Confederation of All India Traders</keyword> (CAIT) in a communication sent to Union Commerce Minister <keyword id="6355222" type="PERSON" weightage="20" keywordseo="piyush-goyal">Piyush Goyal</keyword> demanded <keyword id="2465241" type="PERSON" weightage="20" keywordseo="immediate-action">immediate action</keyword> against e-commerce entities including <keyword id="18635" type="CITY" weightage="20" keywordseo="Amazon">Amazon</keyword>, <keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword>, <keyword id="830092" type="COMPANY" weightage="20" keywordseo="Zomato">Zomato</keyword>, <keyword id="6358977" type="UNKNOWN" weightage="20" keywordseo="swiggy">Swiggy</keyword> and others. "It is a case of daylight robbery of e-commerce entities in India and therefore demand immediate action against the erring e-commerce portals and online mechanism providers," CAIT said. CAIT has accused Amazon, Flipkart, Zomato, Swiggy and various other e-commerce entities for violation of mandatory display of Country of Origin and Manufacturer, seller Details on products sold through their respective E-Commerce Portals as required under the Consumers Protection (E Commerce) Rules,2020, Legal Metrology (Packaged Commodities) Act, 2011 and guidelines of Food Safety &amp; Standards Authority of India. CAIT has asked Goyal to take action against E-commerce entities including Amazon, Flipkart, Zomato, Swiggy and others. "It is a case of daylight robbery of e-commerce entities in India and, therefore demands immediate action against the erring e-commerce portals and online mechanism providers," CAIT said. CAIT National President B.C. Bhartia and Secretary General Praveen Khandelwal in a communication to Goyal said that e-commerce entities conducting business in India including Amazon, Flipkart and others are highly violating the mandatory conditions spelled out in above Acts. "It is a pity that particularly in e-commerce every guidelines, Rules &amp; Regulations, Laws and policies are being flouted openly and no department has so far taken any cognizance of compliance issues resulting in a highly vitiated and mess like e-commerce trade of India," CAIT said. Bhartia and Khandelwal said that Rule 10 of Legal Metrology (Packaged Commodities) Rules, 2011 provide that e-commerce entities should have to display name and address of the manufacturer, name of the country of origin, common/generic name of the product, net quantity, best before/use by date (if applicable), maximum retail price, dimensions of the commodity, etc. This rule was introduced in June 2017 and provided a transition period of six months thereby its implementation from January 1,2018 but even after a lapse of three years, the above rules are not being complied by e-commerce companies prominently by Amazon, Flipkart, etc. Failure to make declarations as above will amount to selling non-standard packages and will invite penalty under the above said Act, including fine or imprisonment or both, CAIT said. Both trade leaders further said that similar obligations were imposed on e-commerce food business operators vide guidelines issued by the Food Safety &amp; Standards Authority (FSSAI) on February 2,2017. "But such FBOs like Zomato, Swiggy, etc. are not complying with the above rules," CAIT said. Bhartia and Khandelwal said that under Rule 4(2) of the Consumer Protection (E Commerce) Rules, 2020, it is provided that every e-commerce entity shall provide the following information in a clear and accessible manner on its platform, displayed prominently to its users, namely, legal name of the e-commerce entity, principal geographic address of its headquarters and all branches, name and details of its website, and contact details like email address, fax, landline and mobile numbers of customer care as well as of grievance office. Similar provisions are also spelled out in Press Note 2 of the FDI Policy, 2016. CAIT said no e-commerce entity has appointed a Nodal Officer as also complying with above provisions. Important rights of the consumers are being violated as they are not aware of the seller or description of the product at the time of purchase of products from e-commerce portals. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/mrs-bectors-shares-are-down-32-from-the-peak-post-listing-analysts-say-it-is-still-overpriced/articleshow/80430865.cms">Mrs Bectors shares are down 32% from the peak post listing — analysts say it is still 'overpriced'</a> <a href="https://www.businessinsider.in/budget/news/indias-co-working-sector-wants-recognition-under-real-estate-tax-benefits-as-flexible-workspaces-aim-for-a-significant-revival-in-the-post-covid-era/articleshow/80431768.cms">India’s co-working sector wants recognition under real estate, tax benefits as flexible workspaces aim for a significant revival in the post-COVID era</a> <a href="https://www.businessinsider.in/stock-market/news/how-to-check-allotment-status-of-indian-railway-finance-corporation-irfc-ipo/articleshow/80406208.cms">Indian Railway Finance Corporation IPO allotment: Here’s how to check share allotment status</a>

CAIT seeks action against Amazon, Zomato, Flipkart and Swiggy for 'daylight robbery'

A user by the name of ‘<keyword id="4545596" type="UNKNOWN" weightage="20" keywordseo="nclay">nclay</keyword>’ has claimed to hack India’s online food delivery app <keyword id="830092" type="COMPANY" weightage="100" keywordseo="Zomato">Zomato</keyword>. The <keyword id="6524922" type="UNKNOWN" weightage="20" keywordseo="Security-breach">security breach</keyword> saw more than 17 million user records stolen from Zomato’s database. The stolen information has email addresses and hashed passwords of customers. As per Hackeread.com, nclay is willing to sell data pertaining to 17 million registered users on a popular Dark Web marketplace with the price set for the whole package at $1,001.43 (0.5587 <keyword id="6395759" type="UNKNOWN" weightage="20" keywordseo="Bitcoins">bitcoins</keyword>). Hashing turns an original password into an incoherent set of characters, bringing down the possibility of it being easily converted back to plain text. Although in theory the password may still be safe, Zomato is encouraging its users to change that password if used for any other services. “Payment related information on Zomato is stored separately from this (stolen) data in a highly secure PCI Data Security Standard (DSS) compliant vault,” Zomato stated in its blog. “Since we have reset the passwords, affected users' zomato account as well as credit card information is secure, so there is nothing to worry about there,” the blog read. Zomato has termed the <keyword id="6357115" type="UNKNOWN" weightage="20" keywordseo="hacking">hacking</keyword> a human error as the cause of the security breach where an employee's development account got compromised.

Zomato hacked! 17 million user records stolen; hackers ask for payment in bitcoins

<ul><li><keyword id="163404" type="COMPANY" weightage="20" keywordseo="Softbank">Softbank</keyword> is said to be in talks to take a stake in <keyword id="830092" type="COMPANY" weightage="20" keywordseo="Zomato">Zomato</keyword>. It commenced similar discussions with Zomato's rival <keyword id="6358977" type="UNKNOWN" weightage="20" keywordseo="swiggy">Swiggy</keyword> last year.</li><li>India's <keyword id="6376068" type="UNKNOWN" weightage="20" keywordseo="food-delivery">food delivery</keyword> market is estimated to be growing at a quarterly rate of 15%.</li><li>Softbank is expected to make an investment decision by the end of 2018.</li></ul> In the aftermath of Walmart’s $16 billion acquisition of e-commerce upstart Flipkart, Softbank, a Japanese tech giant and investor, looks set to double down on the Indian market. The Economic Times <a href="https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/softbank-now-in-talks-to-put-zomato-on-its-menu/articleshow/64198467.cms">reported today </a>that Softbank was engaged in initial talks with Zomato, a food delivery service, to take a stake in the company. In fact, a source told ET that Softbank was scouring the Indian food delivery market for deals, with plans to infuse anywhere between $200 million and $400 million in a worthy candidate. The Japanese company had reportedly commenced talks with Swiggy, another food delivery service, late last year to invest as much as $250 million in the latter’s growth, although nothing seems to have come of it yet. India’s food delivery market, which is dominated by Zomato and Swiggy, is growing fast. Earlier this year, RedSeer Consulting, a research and consulting firm, estimated that the market grew at a quarterly rate of <a href="http://redseer.com/newsletters/food-tech-market-updates-feb18/">15% last year</a>, with daily order volumes more than doubling to 460,000 by September 2017. In April, RedSeer also pegged the size of the market <a href="http://redseer.com/newsletters/food-tech-market-updates-apr18/">at $740m</a>. The increasing level of interest in India’s food delivery market is thought to be reminiscent of the investor hype surrounding ride-hailing services a few years ago when Uber entered the country. Interestingly, Softbank has a stake in both Ola and Uber. Both companies have or had their own food delivery services. Ola <a href="https://www.olacabs.com/media/press/ola-and-delivery-hero-join-forces-in-india">acquired Foodpanda</a>, a food ordering app, in December last year with plans to invest $200 million in the company. Meanwhile UberEats was launched in May 2017 and <a href="https://www.thenewsminute.com/article/uber-eats-sees-50-pc-growth-first-year-operations-focus-tier-2-markets-81332">is said to be going strong</a>. Softbank is expected to make an investment decision by the end of 2018. Last month, the company’s CEO, Masayoshi Son, said that Softbank was on track to invest <a href="https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/set-to-overachieve-on-10-billion-india-investment-target-softbank-ceo-masayoshi-son/articleshow/63966163.cms">more than its original target of $10 billion</a> in India by 2024. It’s already invested $8 billion since 2014, partly through its <keyword id="4031888" type="PERSON" weightage="20" keywordseo="vision-fund">Vision Fund</keyword> for tech investments, making bets on the <a href="https://www.reuters.com/article/us-softbankgroup-gcl-solar/softbank-chinas-gcl-team-up-for-930-million-indian-solar-venture-idUSKCN1H909S">solar energy,</a> <a href="https://in.reuters.com/article/softbank-group-paytmecommerce-stake/softbank-alibaba-to-invest-445-million-in-paytm-e-commerce-idINKCN1H91OB">e-commerce</a> and <a href="https://inc42.com/buzz/softbank-vision-fund-oyo/">hotel booking</a> markets to name a few. It is currently said to be mulling <a href="https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/softbank-in-talks-to-invest-big-money-in-paytm-mall/articleshow/64152935.cms">a $3 billion investment</a> in Paytm Mall, the e-commerce arm of Paytm, in which it already owns a 21% stake, pending a possible exit from Flipkart. The news of the possible investment in Zomato follows speculation regarding the launch of a <a href="https://www.bloombergquint.com/business/2018/05/16/softbank-s-son-is-said-to-eye-another-100-billion-for-fund-2-0#gs.3Va=5TY">second Vision Fund </a>by Softbank. The new fund is expected to also have a $100 billion corpus and could launch as early as 2019.

Softbank is eyeing a slice of the Indian food delivery market

New York, A <keyword id="98892" type="ORGANIZATION" weightage="20" keywordseo="federal-court">federal court</keyword> has permanently shut down a US-based computer scam that preyed on elderly Americans using call centre operators in <keyword id="3658" type="LOCATION" weightage="20" keywordseo="India">India</keyword> resulting in losses of hundreds of thousands of dollars. In a statement on Tuesday, the <keyword id="67869" type="COMPANY" weightage="20" keywordseo="Department-of-Justice">Department of Justice</keyword> said that the court gave the <keyword id="3528317" type="PERSON" weightage="20" keywordseo="Permanent-injunction">permanent injunction</keyword> against Michael Brian Cotter and four <keyword id="22917" type="CITY" weightage="20" keywordseo="Companies">companies</keyword> barring them offering <keyword id="843005" type="PERSON" weightage="20" keywordseo="technical-support">technical support</keyword> through telemarketing and web sites following a joint operation by US authorities and India's Central Bureau of Investigation (CBI). The alleged fraudsters in some cases impersonated Microsoft, which brought cases to the attention of the Transnational Elder Fraud Strike Force., the <keyword id="6360339" type="COMPANY" weightage="20" keywordseo="department">Department</keyword> said. The Department had filed in October a request for the injunction against Cotter and the companies before the court in Miami, <keyword id="6357385" type="LOCATION" weightage="20" keywordseo="florida">Florida</keyword>, which is an area with a concentration of retirees, and a temporary injunction was granted immediately and was now made permanent. Acknowledging India's cooperation, Acting Assistant Attorney General Jeffrey Bossert Clark said: "The Department is grateful for the cooperation of foreign law enforcement, including India's CBI, in investigating, disrupting, and prosecuting technical-support fraud schemes and other schemes originating abroad and directed at the American public." The complaint said that Cotter allegedly worked with co-conspirators in India, but did not identify them. One of the companies mentioned in the complaint is registered in Singapore. The US federal government also took over 19 domain names like "assistmysoftware" and "helpforsoftware" that were used in the alleged scam to prevent their continued use. According to the Department of Justice's complaint, the alleged fraud involved causing pop-up messages to appear on computer screens purporting to be from Microsoft or other companies falsely claiming that the computers were infected with viruses and asking the users to call a phone number for help. When they called the number it was transferred to call centres in India from where the operators asked to access the computers and then claimed they had detected "non-existent" problems and charged them hundreds of dollars claiming falsely to fix fake issues on the computer, the complaint said. The Department said that since President Donald Trump signed the Elder Abuse Prevention and Prosecution Act (EAPPA) into law in October 2017, it has participated in hundreds of enforcement actions against scams targeting seniors. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-sbi-hdfc-bank-wipro-ril-future-retail-tcs-jindal-stainless-upl-irctc-and-others/articleshow/80019871.cms">Top stocks to watch — SBI, HDFC Bank, Wipro, RIL, Future Retail, TCS, Jindal Stainless, UPL, IRCTC, and others</a> <a href="https://www.businessinsider.in/india/news/india-detects-14-new-cases-of-uk-covid-19-strain-putting-the-tally-at-20/articleshow/80020163.cms">India detects 14 new cases of UK COVID-19 strain, putting the tally at 20India detects 14 new cases of UK COVID-19 strain, putting the tally at 20</a> <a href="https://www.businessinsider.in/business/startups/news/2021-could-finally-be-the-year-of-indias-tech-ipos-as-startups-like-zomato-delhivery-policybazaar-head-for-the-public-markets/slidelist/80019978.cms">2021 could finally be the year of India’s tech IPOs as startups like Zomato, Delhivery, Policybazaar head for the public markets</a>

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