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E Commerce

The government prepared norms to counter fake reviews on sites

The government has finalised a draft framework of standards for dealing with fake reviews and unverified star ratings on ecommerce websites, as well as travel and hotel booking platforms, and is currently in consultation with ecommerce platforms to reach an agreement, according to Rohit Kumar Singh, secretary, department of consumer affairs, in an exclusive interview with ET’s podcast series, The Morning Brief.

He stated that these guidelines would be released soon. “We are working on a generic, robust framework to deal with this. The main issue is traceability and legitimacy of the reviews and ratings – whether the person who wrote the review is actually the user. Hotels and travel reviews are, to use a phrase, the biggest defaulters on this.”

by Tech In Asia

GoTo’s legal and corporate secretary said the company follows regulations for public companies and will prioritize the interests of shareholders. Source link

by INC42

SUMMARY The due diligence is done, and both sides are negotiating final terms for the cash and equity transaction If the deal closes, it will mark one of the biggest consolidation in India’s auto tech sector Notably, CarDekho entered the unicorn club in October 2021 after raising $250 Mn at a $1.2 Bn valuation. It, however, shut down its used-car retail business in 2023 after high operating costs made it unviable Listed auto marketplace CarTrade is reportedly in advanced stages to acquire rival CarDekho in a deal valued at… Source link

by INC42

From a brand known for its cool urban image and setting the Indian craft brewery benchmark, Bira 91’s survival hangs by a thread.  The startup, which has raised more than $200 Mn in funding to date from investors such as Peak XV Partners, Sofina, and Kirin Holdings, among others, is struggling to move past the slowdown that hit its business last year.   At the centre of the storm are 600 employees, the investors, and Ankur Jain, the CEO and founder of B9 Beverages Ltd, Bira 91’s parent company.  Jain is under pressure to step down… Source link