Uber said on Tuesday it has sold its food delivery business, Uber Eats, in India to local rival Zomato as the American ride-hailing giant races to shed lossmaking operations to become profitable by next year. As part of the deal, Uber would own 9.99% of Zomato and its Eats users would become part of the…
IAC has sold off a majority stake in CH Media, the parent organization behind CollegeHumor . The new owner? CH Media’s chief creative officer Sam Reich. Reich announced the move on Twitter, saying that digital media holding company IAC “made the difficult decision to no longer finance us,” but that it would allow him to…
Facebook is selling Oculus Medium — a 3D virtual reality sculpting tool for creatives — to Adobe. The team was an expensive effort for Oculus and its sale signifies a broader rethinking within Facebook in what virtual reality projects they tackle in-house. It’s clear that Oculus pumped an awful lot of money into Medium over…
Amazon has set its eye on the next business it wants to disrupt in its key overseas market India: online movie tickets. The e-commerce giant said Saturday it has partnered with local online movie ticketing giant BookMyShow to introduce booking option on Amazon India shopping site and app. The move comes months after the e-commerce…
