Airtel cuts prepaid data tarriffs

India’s largest telecom operator Bharti Airtel on Sunday said that it would offer more 3G and 4G data to its existing packs, thus resulting into benefits on these packs increasing by up to 67 per cent. Airtel’s move comes only two days after the Aditya Birla group company Idea Cellular revised its internet tariffs, and is pegged to be the beginning of a tariff war ahead of Reliance Jio’s launch.

Traditionally, Indian telecom companies have maintained tariffs in line with their competitors to retain customers on their own networks. The latest tariff reduction exercises are seen as the companies preparing for the imminent rollout of Jio’s services.

Under the revised Airtel data benefits, the Rs 655 4G/3G monthly recharge pack will now offer 5 GB data, compared with 3 GB data it offered earlier. The Rs 455 4G/3G pack now offers 3 GB, instead of 2GB. Similarly,Rs 989 4G/3G pack will offer 10 GB data as opposed to 6.5 GB earlier.

Airtel has also revised rates for its Sachet Packs with Rs 25 2G pack now offering 145MB data, instead of 100 MB. Airtel Rs 145 4G/3G pack now offers 580MB, in place of 440 MB earlier. Also, the Rs 5 one day 2G data pack benefits have been increased to 30MB.

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Shopclues buys bengaluru based startup Momoe

Online marketplace ShopClues, the newest member of the billion-dollar valuation club, has acquired Bengaluru-based startup Momoe as it looks to build a payments business.

The deal will also help ShopClues establish an office in the startup capital and all five Momoe founders are expected to join its senior management team across functions like design, corporate development and technology. The deal size is pegged at $10-12 million, with consideration being paid in both cash and stock. ETfirst reported about the deal on March 14.

Investors in Momoe — which raised $1.2 million from India Quotient, IDG Ventures India and Jungle Ventures — will get both cash and stock in ShopClues as a part of the transaction.

We got five very senior people in the company as a part of this acquisition, which is the most exciting part," said Sanjay Sethi, CEO of ShopClues, while declining to comment on the deal size.

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