Today's Business Blitz- "Revolutionizing Mobility, Slice's Game-Changing Merger, Draft Rules for Digital Data Protection, Swiggy hits records, Antfin Singapore Plans to Sell Shares"
19th August, 2024
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1. “Revolutionizing Mobility: Seattle's New EV Car-Sharing Program Targets Underserved Communities with a Co-Op Approach”
ZEV, an EV car-sharing cooperative, aims to reach underserved communities in Western Washington.
Town and Country Markets joined as a group member, providing a Chevy Volt for shared use at their Ballard store.
ZEV offers co-op memberships, group co-ops, and visitor options, with reduced rates and benefits.
The company prioritizes partnerships with nonprofits and government entities, focusing on accessibility for lower-income communities.
ZEV has a 24/7 support team, detailed orientation, and attention to amenities like sanitizing wipes and phone chargers.
Estelita's Library, a social justice organization, uses ZEV's electric van for community support, accessible to registered drivers.
ZEV's mission aligns with Washington state's climate change goals, aiming to reduce transportation emissions in low-income and minority communities.
The venture currently relies on public funds, with long-term sustainability pending partnerships and revenue-generating initiatives.
#Seattle#GIG Car Share#company#Washington State Department of Transportation#getaround#ZEV#ZipCar#Market#Startups#Sustainability#Turo#EV#sustainability
2. “Slice's Game-Changing Merger: NCLT Greenlights Union with North East Small Finance Bank”
NCLT approves Slice's merger with North East Small Finance Bank (NESFB).
Key personalities: Rajan Bajaj (slice founder and CEO).
Merger follows earlier CCI approval.
Companies to announce effective merger date and merged entity details in coming months.
Customers to benefit from expanded offerings and enhanced banking experience.
#News#banking#Internet#bank
3. “Coming Soon: Draft Rules for Digital Data Protection - Announced by IT Minister”
Draft rules for Digital Personal Data Protection Act (DPDP Act) expected within a month.
Final draft reviewed and scheduled for public consultation in September.
DPDP Act aims to protect personal data and prevent breaches.
Data Protection Board of India to investigate breaches.
Protections included for children and persons with disabilities.
Social media platforms required to ensure data accuracy and security.
Consent managers allow users to control consent online.
Concerns raised by industry stakeholders about privacy and compliance costs.
#News#B2G
4. “Swiggy's Instamart Hits Record Orders Per Minute This Raksha Bandhan!”
Swiggy's Instamart sets new orders per minute (OPM) record on Raksha Bandhan.
Instamart CEO Phani Kishan announces 5x increase in rakhi sales compared to last year.
Highest individual spend of Rs 11,320 recorded, including toys from Hamleys and makeup.
Instamart competes with rivals Blinkit and Zepto, who also report record-breaking sales.
Blinkit CEO Albinder Dhindsa highlights highest OPM, GMV, and chocolate sales.
Zepto CEO Aadit Palicha reports all-time highs in orders, sales, and first-time buyers.
#Zepto#Swiggy
5. “Major Move: Antfin Singapore Plans to Sell Shares Worth $408 Million in Zomato Block Deal”
Antfin Singapore plans to sell $408 Mn worth of Zomato shares (1.54% stake) via block deal today.
Floor price set at INR 251.68/share, a 4% discount from Monday's closing price.
Antfin held a 4.3% stake (37.38 Cr shares) in Zomato as of June 2024 quarter.
This is the second stake sale by Antfin in Zomato this year.
Zomato shares have been rising on the back of improved financial performance.
#News
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