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A minority stake in BookMyShow to give Flipkart a play in the fast-growing online ticketing space and also an access to a high-spending loyal customer base Amid competition from deep-pocketed global players like Alibaba, India’s leading online ticketing platform BookMyShow is looking for a backing in its space from Flipkart, the country’s largest internet company. While  Flipkart BookMyShow Deal  has been one of the few profitable internet companies in India, with a profit of Rs 3.1 crore on a revenue of Rs 248 crore in the year that ended March 2016, competition from rivals like Paytm has caused sales growth to slow. To shield itself from cash-burning rivals, BookMyShow will sell a minority stake to Flipkart, a behemoth with a cash reserve of $4 billion. For the e-commerce major, a stake in BookMyShow will give it a play in the fast-growing online ticketing space and also an access to a high-spending loyal customer base. Also Read :  Latest Current ...

Walmart rips up China online strategy, starts again with stake in Alibaba rival Walmart   Stores Inc has sold its Chinese   online   grocery store in return for a stake in the country's no. 2   e-commerce   firm, ripping up its previous strategy in efforts to cure ailing sales in one of the world's toughest retail markets. The deal will see the US grocery giant swap its Yihaodian platform for a 5% stake in Inc, worth about $1.5 billion by the firm's latest market value. The move also gives Walmart a ringside seat in bitter rivalry with Chinese e-commerce leader   Alibaba   Group Holding Ltd. The sell-off, announced on Monday, is a significant shift for Walmart in China, where it operates more than 400 bricks-and-mortar stores. The firm has been shuttering underperforming outlets and grappling with soft online sales in the world's second-biggest economy since it bought full control of Yihaodian in July last year, saying the site would play a l...

The Chinese Communist Party’s propaganda boss, Liu Qibao, has extolled the success of  Alibaba , the giant Internet company, as the kind of uplifting story that offsets the country’s reputation abroad as corrupt and authoritarian. “We have many iconic brands and archetypal individuals with many stories that people love to hear,” Liu told a conference of officials in January. Alibaba and similar success stories, he said, should be seen as “shining calling cards for the image of contemporary China.” The Alibaba Group, and party propaganda overseers in Beijing, are about to take that premise a step further, going beyond using the narrative of one of China’s most lucrative businesses to improve China’s reputation - and instead using its cash and digital skills. On Friday, the company announced that it would attempt to directly reshape global news coverage of China, which it says is too negative, by buying the media assets of the SCMP Group, including The South China Morning Post,...