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TECHNOLOGY

AFRICAN AMERICAN (T)

Booz Allen says awarded $621 million U.S. cybersecurity contract

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WASHINGTON (Reuters) – Booz Allen Hamilton said on Friday it won a $621 million federal contract to develop and implement cybersecurity tools across the U.S. government.

The contractor, which earns billions of dollars a year contracting with U.S. intelligence agencies, said it was selected for a six-year task order to support the Department of Homeland Security’s program known as Continuous Diagnostics and Mitigation, which includes cybersecurity support for cloud and mobile devices and incident response services.

Reporting by Dustin Volz; Editing by Jeffrey Benkoe



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TECHNOLOGY

New report says Apple will stop making the iPhone X in the second half of the year

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Apple just announced its earnings results for the Christmas quarter, revealing that the company sold fewer phones than it did in the same quarter a year ago, but the average selling price increased considerably. That’s a clear sign that the iPhone X’s high price affected ASPs. And the iPhone X could have influenced the ASP in such a manner only if Apple sold a ton of them in November and December. That’s because Apple sold more than 77.3 million combined iPhone units during the quarter.

But a new report from Korea suggests that Apple is going to significantly cut iPhone X production in the March and June quarters this year. And Apple might stop manufacturing the iPhone X completely in the second half of the year.

Reports a few weeks ago said that Apple plans to discontinue the iPhone X when its replacements arrive in the late summer. This would mark the first since the iPhone 5 that a one-year-old iPhone isn’t kept in Apple’s lineup for at least one more year of sales. However, Business Korea now says that Samsung told partner firms that Apple will buy just 20 million OLED displays in the first quarter of the year, which represents a 50% decline in sales. The volume would be then halved again in the following quarter.

Unnamed industry sources apparently believe that Samsung’s disclosures imply that Apple is going to discontinue the iPhone X this year. Because Samsung is the only supplier of OLED panels for the iPhone X, Apple’s orders with Samsung Display reflect future iPhone X production.

Component makers are worried about the rate of decline in order quantities, which experts say are unusual. Apple is obviously expected to build fewer iPhones every year in the March and June quarters compared to the December period, but Business Korea suggests the order drop is significant this time around.

Samsung plans to offset the decline by selling more OLED panels to China-based smartphone makers, Business Korea says.

A report from Nikkei a few days ago mentioned the same 20 million and 40 million figures that Business Korea notes in its own story. But Nikkei did not single out Samsung Display. A different report said that Samsung is slashing OLED panel production at a plant making displays mostly for Apple by 10%, not 50%. Meanwhile, other Apple suppliers also went on record to say the drop in orders isn’t as big has been reported.

Apple is expected to release three iPhone X successors this fall. All of them will come with Face ID and all-screen designs, and OLED displays will be used in at least one new model.



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MIDDLE EASTERN (T)

Security Think Tank: Approaches to strengthening security operations

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Security operations is a weak area in a lot of organisations because they do not have incident response plans in place. They do not proactively monitor for security incidents, they do not practice their incident response and they are not prepared for “cloud scale” incidents.

There are a couple of sides to this issue that are well understood by larger organisations and regulated industries, like financial services, as they are critical to remaining in business. I will touch on the two most significant, and explore the lessons we may draw from that understanding.

1. Automation

Automation is key as any organisation scales up in size or activity or observes increasing attacks. It lets them handle more of the “noise” and to allow information security professionals to concentrate on difficult and unusual incidents.

It’s worth remembering, however, that staff in security operations may not be accustomed to writing code – a skill that may be essential to handle some types of incoming threats and even develop automated systems to deal with them at scale.

So, how can we address this? One upside of the proliferation of security tools that work across diverse environments is there are almost certainly tools that will work out of the box to a reasonable degree for small- to medium-sized organisations (and professionals who may lack that coding expertise).

For instance, monitoring and logging agents, collection tools, data miners, heuristic analysis tools and even elements of machine learning can help to build a model of what “good” traffic and behaviours look like.

The connectivity between a lot of these tools already exist, and so there is a distinct improvement organisations can implement without the need to train or hire coders to develop and maintain automated solutions. That being said, these tools are definitely not a silver bullet.

They will improve your situation to a certain degree, not fix it. And they will not necessarily teach you very much about your environment or the threats facing it, as a lot of the information automated tools pick up about your environment may not be presented to you in the most useful way.

Larger, regulated organisations extensively use automation as a core part of security and continue to invest further in this area, as the sheer scale of threats combined with complex global environments means it would be impossible to manage security threats and incidents any other way.

For them, thousands of attacks are identified, defended and logged automatically, with only those requiring human action raising alerts. To do this, at a scale equal to the increased workload, there are teams of developers both in-house and at security providers to customise the tooling appropriately.

A global organisation with a few hundred points of presence, hundreds of key applications on thousands of servers, across multiple operating systems, is not going to find an off-the-shelf solution which encompasses every aspect of its security solution.

For larger organisations, the decision to invest in diverse security operations teams is essential and usually forms part of the overall operational security strategy. As threats continue to evolve, this strategy is formulated to support the business in years to come and pre-empt future threats. Smaller organisations should ensure there is at least some in-house expertise – and retain or develop this as the company grows.

2. Incident Response

In parallel, developing effective incident response processes can make life much easier for the teams involved, and again, this is an area that many smaller organisations could benefit from improving.

For example, a small company that suffers a security incident may learn about it from the media – particularly if it is a data breach, or from systems failures. At this late stage, it usually requires an “all hands on deck” approach, which instantly impacts that company, having a domino effect on other functions.

Building effective playbooks of all the steps required during a security incident in the same way large enterprises do means there is very little wasted effort. Understanding every individual’s role in the incident helps identify efficiencies in underlying processes, while minimising mistakes.

One useful outcome of developing playbooks is understanding where automation can replace humans at critical times. An important candidate for automation is initial triage, which can reduce the number of incidents requiring a full team to assemble by narrowing it down to team, location, type of incident etc., or in some cases, completing incident resolution without human intervention.

Playbook and incident response examples are available online, but many small-to-medium organisations should think about using external consultancy to provide this. Professional organisations like ISF, ISACA and ISC2 are also good value, as they provide useful guidance and information to their members.

Whether or not you develop your incident response processes in house, or have help, it is essential to test them regularly, as your organisation will change over time. If your incident responses cover your data centre but you have moved to a cloud platform and not updated your playbooks, how will you know what checks need to be carried out, or what instances need to be updated?

In summary, across both tooling and incident processes, most organisations should consider external assistance as a key development boost to build, or reassess regularly. But whether you buy in tools and consultancy or use third party managed services, ensure you retain in-house expertise to manage and retain knowledge of the organisation to ensure those tools, processes and services are current and appropriate.



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AFRICAN AMERICAN (T)

Sprint beats on quarterly revenue, raises outlook; shares jump

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NEW YORK (Reuters) – Sprint Corp reported quarterly revenue on Friday that beat analyst estimates, as the No. 4 U.S. wireless carrier raised its free cash flow outlook for the 2017 fiscal year.

Shares rose 3.7 percent to $5.29 in early trading, a day after sliding 5.7 percent to their lowest in a year and a half.

The company has sought to strengthen its balance sheet by cutting costs and mortgaging a portion of its airwaves and equipment, but industry analysts have raised concerns about how it can adequately fund network improvements after merger talks with rival T-Mobile US Inc ended last year.

Sprint now expects $2.5 billion to $2.7 billion in operating income, up from its previous estimate of $2.1 billion to $2.5 billion. It expects adjusted free cash flow of $500 million to $700 million, compared to previous estimates of breaking even.

“We think recent weakness in shares is reflective of lowered investor expectations, while in-line to slightly better financial results could provide some near-term relief,” said Matthew Niknam, analyst at Deutsche Bank, in a research note.

On the post-earnings conference call, Sprint Chief Executive Officer Marcelo Claure said Sprint would launch a mobile 5G network in the United States by the first half of 2019.

The company is also looking for ways to reduce the number of executives at the top, he said. Sprint cut costs by about $260 million in the quarter, excluding $100 million of hurricane-related charges.

Claure said “becoming a wholly owned subsidiary of (SoftBank Group Corp) could be a possibility” but that the decision would be up to SoftBank Chief Executive Masayoshi Son. Japan’s SoftBank owns a majority of Sprint and has been increasing its stake.

For the quarter, Sprint reported net additions of 184,000 phone subscribers who pay a monthly bill, compared to additions of 368,000 a year earlier.

Net operating revenue in the third quarter ended Dec. 31 was $8.24 billion, down from $8.55 billion a year earlier.

Sprint reported quarterly net income of $7.16 billion, or $1.79 per share, due to the impact of federal tax reforms, after a loss of $479 million, or 12 cents per share, a year earlier.

Excluding the impact of tax cuts signed into law by U.S. President Donald Trump late last year, net income was 3 cents a share.

According to Thomson Reuters I/B/E/S, analysts had expected revenue of $8.15 billion and a net loss of 4 cents a share.

Reporting by Anjali Athavaley; Editing by Bernadette Baum and David Gregorio



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TECHNOLOGY

Has the PS4 peaked? Annual console sales are flat for 2017

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After the relative disappointment of the PlayStation 3, the PS4 has been an unquestioned sales success for Sony. The system has raced to sell an impressive 76 million units worldwide through the end of 2017, and it maintains a dominant position over the Xbox One in the high-end console sales race (though Microsoft claims not to care very much about that relative positioning).

But Sony’s quarterly earnings report last night contained a bit of a gray cloud for the PS4’s longer-term prospects. For the first time since its launch, shipments for the PS4 in the all-important holiday quarter were down year over year, from 9.7 million in 2016 to 9 million in 2017. The decline means calendar year shipments for the PS4 were flat from 2016 to 2017, sitting steady at 19.4 million.

It seems likely that Sony’s annual shipments for the PS4 will never climb higher than that number based on historical analysis. Looking back over the sales trajectories for the last three PlayStation systems, annual sales tend to peak after the system’s third or fourth full calendar year on the market (not counting the partial launch year; varied launch dates throughout the year make precise day-and-date-aligned comparisons a bit tricky). With the end of 2017, the PS4 has reached the end of its fourth full year on the market, and the console seems set to begin its long decline in annual sales (Fig. 1).

That’s not to say the PS4 is going away anytime soon. The system will likely drop off from its sales peak slowly over the next few years before hitting a market near-saturation point where relative annual sales fall more precipitously (Fig. 2). PS4 software sales will likely continue to increase as the base of players with systems in the home continues to grow, too.

Generationally speaking, though, we’ve probably hit the functional midpoint of the PS4’s sales cycle if history is any guide.

What sales may come

Of course, things might be different this time around. The late 2016 launch of the PS4 Pro could fundamentally shift the market, giving the PS4 family longer legs and a higher peak than previous generations. A surprise killer app could push PS4 sales to unexpected new heights in the coming year, too, as games like Nintendogs and Pokemon have done for Nintendo portables.

More likely, however, the PS4’s sales peak starts the long countdown to the PlayStation 5, which history suggests should restart the cycle of console boom and bust in the next three or four years (that’s assuming that Sony doesn’t keep the current generation limping along with some sort of PS4 SuperPro, of course). How soon Sony decides to pull the trigger on that hardware refresh depends a lot on how quickly the PS4’s sales pace drops from here on out.

If the PS4 has peaked, it does so at a slightly lower annual sales level than either the PS1 or PS2 (though that’s after the PS4 sold much faster than either out of the gate). Direct comparisons of total units sold can be a bit tricky in retrospect—both the PS1 and PS2 faced less serious competition from other console makers, but the total size of the console gaming population was also smaller during their heyday.

Thus far, however, the PS4 is slightly outselling both the PS1 and PS2 at roughly the same point in their lifetimes (Fig. 3). Whether Sony’s latest console goes on to become its best selling ever depends on just how quickly sales drop from what is likely a current annual peak. In any case, the PS4 is already on the verge of outpacing the PS3’s lifetime sales,with plenty of good years left on the clock.

(Note: Late-term PS3 sales in the above charts are estimated from spotty quarterly sales data released by Sony late in the system’s life.)



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MIDDLE EASTERN (T)

Appeal Court to give landmark verdict on Lauri Love extradition

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The Court of Appeal will announce on Monday whether 33-year-old engineering student Lauri Love should be extradited to the US to face hacking charges, in a landmark case that could challenge the validity of UK extradition laws.

Love, who has Asperger’s, depression and drug-resistant eczema, faces the prospect of being the first Briton to be extradited for alleged hacking offences in the US.

This is a key test case for the forum bar, introduced by Theresa May when she was home secretary, following Gary McKinnon’s 10-year battle against extradition, to give vulnerable defendants protection against extradition.

“This is an incredibly important case,” said Naomi Colvin of the Courage Foundation, which is backing Love’s case. “What happens on Monday will determine whether the hard-fought-for changes to our extradition law, secured during the Gary McKinnon law case, hold true or whether we are back to square one again.”

The courts have accepted that Love is at high risk of suicide if he is sent to the US, where he would be placed on suicide watch in a detention centre before trial.

The Appeal Court will decide whether conditions in US jails, which have deteriorated under cutbacks since Donald Trump became president, mean they cannot provide the care and medical treatment that Love requires.

Love’s defence team argue that he would face “medieval conditionsin the US federal prison system if the extradition went ahead.

The Metropolitan Correction Centre (MDC) in Manhattan and the Metropolitan Detention Centre (MDC) in Brooklyn – where Love is likely to be detained pending trial – has just one psychiatrist for 2,461 inmates, the court was told in a two-day hearing in November. In one case, a prisoner on suicide watch cut himself and was left in a cell covered in excrement for a week, despite repeated pleas for cleaning to prevent him picking up an infection.

The Appeal Court judges are also expected to rule whether Judge Nina Tempia properly considered the forum bar in her judgment permitting Love’s extradition to go ahead, following a hearing at Westminster magistrates court in September 2016.

At least 13 people accused of hacking US computer systems have been tried in the UK, raising questions over why Love, who potentially faces trials in three US states, is not being prosecuted in the UK.

Former director of public prosecutions Ken Macdonald said in a witness statement that it had been normal practice to prosecute hackers accused of attacking overseas computer systems in the UK, with the notable exception of McKinnon, whose extradition was halted by Theresa May.

Love is accused of working with others to hack the US Federal Reserve, US Army, US Department of Defense, the Missile Defense Agency, Nasa and the FBI Regional Computer Forensics Laboratory as part of an online protest about the death of Aaron Swartz, who was charged under the US Computer Fraud and Abuse Act in what was seen as a politically motivated case.

Four years of stress            

Speaking before the verdict, the Courage Foundation’s Colvin said the trial had taken its toll on both Love and his family. “I hope for Lauri and his famiy’s sake that Monday will be the end of this,” she said. “It’s over four years of incredible stress, and it’s a deleterious impact on his mental and physical health. To do this to someone who has medical difficulties, it’s a form of punishment, but it’s a form of punishment by process.”

The Appeal Court has a number of options open to it. The Crown Prosecution Service has declined to say whether it would prosecute Love or support an extradition – a decision required under the forum bar process – which could persuade judges to refer the case back to a lower court.

If the court finds in Love’s favour, it could do so on the narrow grounds that it would be unfair and oppressive to go ahead with the extradition – a move that would not resolve concerns raised by Love’s legal team about the effectiveness of the forum bar.

Or it could find in favour of Love under the forum bar, which would set a precedent for other vulnerable people to have their cases heard in the UK.

“Obviously we are hoping for a good result, but if the ruling does not go Lauri’s way, this is not the end of the road,” said Colvin. “Due to the public importance of this case, it could easily go to the Supreme Court. Given the deterioration of prison conditions and the rule of law in the US under Trump, it would not be surprising if lawyers in the European Court of Human Rights in Strasbourg wanted to look at it.”

The case has attracted support from MPs across all parties, who published an open letter last November calling for Love to be tried in the UK.

“If Mr Love has committed a crime, he should be prosecuted and justice should be served,” the MPs said. “We believe that if he is extradited, there is a great probability that he will end his own life. This has been confirmed by eminent medical experts, who judge Mr Love’s suicide risk to be very high.”



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AFRICAN AMERICAN (T)

Alibaba deepens India push with BigBasket investment

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MUMBAI (Reuters) – China’s Alibaba (BABA.N) became the biggest shareholder in India’s leading online grocer BigBasket after a $300-million funding round, stepping up its rivalry with Amazon (AMZN.O) in the country.

Alibaba invested $146 million in the grocer, subscribing to compulsorily convertible preference shares, BigBasket said in a filing to Indian regulators.

Investors picked up stakes in BigBasket through secondary share purchases as well, chief executive Hari Menon told Reuters on Friday, declining to give a breakdown other than to say Alibaba now owns the biggest slice.

Sands Capital, International Finance Corp and Abraaj Capital also participated in the $300 million funding round.

BigBasket, which sells everything from vegetables to shampoo, will use the funds to improve its technology, analytics, infrastructure and marketing, Menon said.

The Bengaluru-headquartered firm, which also plans to build farmer networks and expand deeper into Indian cities where they operate, expects to break even between 2020 and 2022, Menon added.

BigBasket is planning to sign a deal with Paytm E-Commerce that runs online marketplace, Paytm Mall, allowing both firms to leverage each others strengths, Menon said.

Under the deal, which will become effective in the first half of this year, Paytm will become the default payments provider to BigBasket while BigBasket will be able to cross-sell groceries on Paytm Mall, Menon said.

Alibaba holds various investments in India’s fast-growing online retail space, including a stake in the parent of top digital wallet firm Paytm.

BigBasket, which researcher Forrester estimates accounts for roughly 40 percent of India’s $750 million online grocery market, is competing with SoftBank-backed (9984.T) Grofers and Amazon’s India business.

Founded in 2011, BigBasket has more than 6 million registered customers and operates across 26 Indian cities.

Reporting by Sankalp Phartiyal; Editing by Devidutta Tripathy and Elaine Hardcastle



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TECHNOLOGY

YouTube TV now available on Roku and Apple TV

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Just in time for the big game, the Winter Olympics, the Oscars and everything else, YouTube TV has finally made its way to Roku and Apple TV.

Roku makes the most popular streamers and is a perennial favorite of CNET’s streamer and smart TV reviews, which are the best values on the market. Apple TV is more expensive but still highly recommended for its polish and raft of capabilities. Between the two they account for more than half of the streaming player installed base in the U.S.

The launch of YouTube TV on both platforms means that Roku and Apple TV users now have access to yet another alternative to traditional cable TV. The YouTube TV app is the same as the one currently available on Android TV, Xbox One and other platforms, complete with access to the service’s unlimited cloud DVR, personalized recommendations and a full grid-style program guide.


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YouTube TV’s big-screen app lets you kick Chromecast…


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YouTube TV, not to be confused with the free version of YouTube filled with music videos, late-night TV clips and cute puppies, costs $35 per month and appeals to cable TV cord cutters. Its package of 40-plus live TV channels includes locals such as ABC, CBSFox and NBC as well as cable stalwarts like AMC, ESPN, the Disney Channel, Fox News and Bravo. (Disclosure: CBS is the parent company of CNET and Showtime.) Initially restricted to a handful of cities, YouTube TV is now available in more than 80 markets nationwide, covering 80 percent of the U.S. population.

YouTube TV app 04

YouTube

When YouTube TV first launched in April 2017 it was available on PCs, phones and tablets, but the only way to watch it on an actual TV was by casting from your phone to a Chromecast. Now it can be used on the following TV devices:

YouTube TV’s competitors, including Sling TVHulu with Live TVPlayStation Vue and DirecTV Now, are all currently available on most of the same devices, as well as Amazon Fire TV and (in the case of Vue) PlayStation. YouTube TV has not announced plans for Fire TV or PlayStation apps.

Like its competitors, YouTube TV offers a free trial for new subscribers. In this case it’s well-timed to catch some of the biggest broadcast events of the year.

First published February 1. Updated February 2 with the addition of the Apple TV app.



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MIDDLE EASTERN (T)

Faster data is a safer bet for risk exposure

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FSB Technology, which runs a betting platform service, has used GridGain’s in-memory database to accelerate its data processing.

The company operates in the businesses-to-business market, offering an online gaming platform. It began by focusing on fantasy football games, which integrated into other platforms. “We wanted to see what we could do with the interesting data coming out of sport,” says Sam Lawrence, who co-founded FSB Technology a decade ago.

 “Rather than just adding up scores at the end of a game, we tried using real-time data. For the last five years, we have been doing sport betting.”

FSB now provides a platform for online gambling and casino sites including 188Bet, BlackType online casino and bookmaker Toals in Northern Ireland.

In effect, it offers sports betting as a service. “Sports betting technology is expensive,” says Lawrence. “Data is becoming a bigger part of this cost.”

The speed of data has a direct impact on the company’s bottom line, he says. “With sports betting, we have the problem of data arriving into a platform that needs to be processed quickly. This data has to be processed fast as it will directly affect margins, so there is always a driver to make data processing faster.”

The company runs the open source Postgre database as its main transactional data store. Lawrence says: “As the company grew organically, we chose open source software that we could get up and running quickly with a commercial support contract.”

But given the need for speedy data processing, he points out: “We needed fast complex query support and the ability to read and write data fast and to scale.”

The company has begun using GridGain, an in-memory database built on Apache Ignite as a data cache.

GridGain says its in-memory computing technology enables massive scale-out of data-intensive applications. It promises to dramatically improve transaction times compared with application architectures with disk-based databases.

Huge amounts of event data

At FSB Technology, huge amounts of event data must be updated constantly, and must be immediately available to a vast number of clients. For example, as a game progresses, new betting opportunities emerge. Odds must be calculated and presented to users in real time, and bets and event results must be processed instantly.

“We have progressed from application database architecture to a cache,” says Lawrence. Data is offloaded and kept in synch on a second data tier for fast in-memory database reads. “For the most part, we use GridGain for reading,” he adds. “On the risk side, when a bet is placed, we have to do fast calculations to ensure we are not exposed.”

FSB can pull complex data structures from its database rapidly and reliably. For example, if a better wants to see all current opportunities for betting on a particular sport, GridGain supports a single, fast query that pulls all the current odds for all the current bets for all the current events for that sport.

“GridGain is extremely flexible,” says Lawrence. “We have been able to create a great user experience for a variety of devices, providing the exact information users need when they need it.”

Although FSB started out using GridGain as a data cache, it is now being used as a layer between the database, says Lawrence. However, there has not been a complete shift to in-memory technology.

For instance, GridGain offers transactional support, but this is an area that FSB is not yet looking at. Lawrence is confident the company will make more use of in-memory technology going forward. “Having developers on the team who have knowledge of GridGain is a great way to get an understanding of new technology,” he says.

Private and public clouds

The company operates across both the private and public clouds, using Rackspace and Google’s public cloud, which means it can add capacity dynamically. This allows it to spin up extra GridGain nodes as and when extra data processing is needed.

Lawrence explains: “Generally, we spin up extra nodes at weekends or during a Champions League game.” This enables FSB to support the extra demands on its systems from peaks in betting, which often occur during major sporting events.

“GridGain’s ability to dynamically add and subtract nodes in the cloud has been critical to cost-effectively scaling our business and meeting our performance goals, even during extreme usage spikes, such as the Grand National,” says Lawrence. “And distributing our cluster across multiple datacentres has ensured availability.”

With GridGain, FSB also easily spun up another instance of the in-memory computing platform for a partner that wanted to run on a dedicated instance of the managed service.

In-memory processing is becoming more mainstream. At the end of last year, Stephen Hawking’s Centre for Theoretical Cosmology (Cosmos) announced it would be using HPE’s in-memory technology to further its research into the early universe and black holes. And in July last year, Japanese telco NTT Docomo rolled out SAP’s Hana in-memory database to analyse data from retail outlets and customer call centres in a bid to improve service levels.



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AFRICAN AMERICAN (T)

Alibaba backs Indian online grocer BigBasket in $300 million fundraising

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MUMBAI (Reuters) – India’s leading online grocer BigBasket has raised $300 million in a funding round led by China’s Alibaba (BABA.N), giving it more firepower to compete with U.S. rival Amazon (AMZN.O).

An Alibaba unit invested $146 million, subscribing to compulsorily convertible preference shares, BigBasket said a filing to Indian regulators.

BigBasket, which sells everything from vegetables to frozen meats to soap and shampoo, gave no breakdown of the fundraising but said it would use the funds to build farmer networks and expand deeper into Indian cities where they operate.

“BigBasket is delighted to receive this funding from Alibaba, which will essentially be directed towards growth and consolidation. The multinational e-commerce retailer fits in best with what we believe in,” chief executive Hari Menon said.

Bengaluru-headquartered BigBasket, which researcher Forrester estimates accounts for roughly 40 percent of India’s $750 million online grocery market, is competing with SoftBank-backed (9984.T) Grofers and Amazon’s India unit for a bigger slice of the market.

Founded in 2011, BigBasket has more than 6 million registered customers and operates across 26 Indian cities.

Alibaba, through its units, holds various investments in India’s fast-growing online retail space, including a stake in the parent of top digital wallet firm Paytm.

Sands Capital Pvt Growth Ltd, International Finance Corp and Abraaj Basket I Pvt Ltd also invested a total of $50.8 million in BigBasket as part of the latest round, according to the filing.

It was not immediately known who invested the remainder of the total $300 million.

BigBasket and Alibaba did not immediately respond to requests seeking comment.

Reporting by Sankalp Phartiyal; Editing by Devidutta Tripathy and Alexander Smith



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