Business

Food delivery app Zomato is in talks to invest around $100 million in e-grocer Grofers, two people in the know told ET, after discussions of a possible merger between the two fell through last year at the onset of the Covid-19 pandemic. Zomato’s investment is likely part of a larger financing round and may value the Gurugram-based online grocery firm at around $1 billion, sources said. This time the talks have centred around a capital infusion, unlike last year when Zomato would have likely acquired Grofers in an all-stock deal….

IndiaTech.org, an industry association representing India’s consumer internet startups and investors, wants to provide clear definitions for the cryptocurrency industry. On Wednesday, the association released a white paper including a policy proposal with recommendations for a regulatory framework for crypto assets and crypto exchanges in India. The proposed framework suggests to define cryptocurrencies like Bitcoin (BTC) as digital assets and not currencies. “Define cryptocurrencies as digital assets and not currencies and grant them recognition as digital assets like gold, stocks, or marketable securities,” the proposal reads. The framework further recommends…

Twitter Inc said Tuesday it had bought news technology company Scroll, which it will use as part of an upcoming subscription offering. Twitter has been working to offer new types of content on its social media site, including audio and long-form content, after previously acquiring newsletter platform Revue. Scroll allows users to subscribe and read news articles from publishers including Insider, BuzzFeed and USA Today without ads. The company says publishers who work with Scroll earn more money than they would by selling advertising. The deal will help Twitter build…