In Brief: Milkbasket, Amazon India in acquisition talks; Food delivery services paused in T'gana

In Brief: Milkbasket, Amazon India in acquisition talks; Food delivery services paused in T'gana
Photo Credit: 123RF.com
20 Apr, 2020

Online milk delivery platform Milkbasket is in talks with ecommerce giant Amazon India for a potential buyout, according to an Entrackr report. If it goes through, the deal will most likely be an all stock one, the report said. The companies have had acquisition talks in the past as well, but there has been no deal so far, the report added. The Gurugram headquartered company had earlier been in talks with Bengaluru-based online grocery platform BigBasket too, but the acquisition reportedly failed due to differences in valuation. 

Read: Gig economy comes to near standstill as Covid-19 pandemic accelerates in India

No food delivery till lockdown lifts in Telangana, says CM 

The Telangana government has asked online food delivery platforms Swiggy and Zomato to close operations. Telangana chief minister K Chandrashekhar Rao said food delivery services would not be allowed from April 20 until the Covid-19 lockdown is lifted. The lockdown in the state will be extended till May 7, he added. Prime minister Narendra Modi had last week extended the national lockdown till May 3.

Read: Coronavirus India LIVE updates

Fintech firm Cred rolls out two new products 

Fintech company Cred has launched two new products, Cred RentPay and Cred Stash, for its customers. RentPay allows members to make their monthly rent payments directly through the app, it said in a statement. Stash, launched as a pilot with IDFC FIRST Bank, provides an instant credit line with an interest rate that is one-third of typical credit card interest charges, it added. 

Read: Cred losses mount to Rs 61 crore in first year of operation

Edtech platform SoME raises angel funding

Bengaluru headquartered edtech institute School of Meaningful Experiences (SoME) has raised an undisclosed amount in an angel funding round. Uday Singh, co-founder of blue-collar lifecycle management startup Better Place, led the round, according to a statement. The company will use the fresh capital to expand operations and recruit talent, it said. Founded in 2018 by CEO Rakesh Godhwani, SoME is an education platform that hosts a 21-week leadership programme for teenagers and adults, along with summer camps and debate sessions for the former.