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Challenge for Startups to Get Series C & Beyond Funding: Kris Gopalakrishnan

7Apr By Press Trust of IndiaNo Comments

Entrepreneurs Talk

Challenge for Startups to Get Series C & Beyond Funding: Kris Gopalakrishnan

Securing series C and beyond funding is a challenge for start-ups, Information Technology veteran Kris Gopalakrishnan said as he called for a simple, orderly and fast-track mechanism to shut failed businesses. The start-ups scenario in India is pretty good but when those firms go for series C and beyond funding, there are some challenges, the co-founder and former CEO of Infosys said. "But at the seed stage or series A (funding), there is still money available; good ideas will get funded and there are lot of opportunities for innovation and new startups in the area of financial services, healthcare, niche retail and deeper technologies, converting research into new products and new businesses," Gopalakrishnan told Pixr8 here. "So, there are significant opportunities still (to tap in t...

It’s War Against Uber, Company Will Be Profitable in 2 Years: Ola CEO

7Apr By Press Trust of IndiaNo Comments

News

It’s War Against Uber, Company Will Be Profitable in 2 Years: Ola CEO

Indian cab aggregator Ola today said the firm is focussing on building a sustainable business and will turn profitable in two years even as it used the analogy of "Vietnam War" to describe competition with its US-based rival Uber. "...this is corporate war and the competition between us and Uber is very intense... the analogy that I gave about India is that this is like Vietnam War. "We are the local guerillas...We have the Americans carpet bombing us but we will go into the nooks and corners of the country and we will find those opportunities in niche areas and in large areas," Ola co-founder and CEO Bhavish Aggarwal said at a TiE event here. He added that the Bengaluru-based company is focussing on building "more sustainable" and profitable solutions to grow its market share in ...

Paytm Mall Surpasses Rs 100 Crore Sales in Two Wheeler Category

6Apr By Press Trust of IndiaNo Comments

News

Paytm Mall Surpasses Rs 100 Crore Sales in Two Wheeler Category

Paytm today said its e-commerce platform, Paytm Mall, has crossed sales of Rs 100 crore from the two-wheeler category. "Paytm Mall has noted a massive surge in two-wheeler sales over the last year as sales figures crossed Rs 100 crore. The company is currently witnessing over 3X quarter-on-quarter growth in the number of vehicles sold," Paytm said in a statement. Launched in February 2016, Paytm Mall's two-wheeler booking platform includes offerings from brands like Suzuki, Honda, Hero and Yamaha, among others. The company sold 50,000 units in 2016. The aim is to sell over half a million two-wheelers this year, the statement said. "Our goal is to partner with offline stores by helping them grow their business online rather than to cannibalise their sales. We aim to bring brand ...

Sachin Starts Digital Innings; Launched His App

31Mar By Press Trust of IndiaNo Comments

News

Sachin Starts Digital Innings; Launched His App

Cricket icon Sachin Tendulkar today started his digital innings as a mobile phone app dedicated to him, "100 MB" was launched here. The app is conceptualised and developed by JetSynthesys and has been envisioned by Sachin himself. A song sung by Sachin with the ace singer Sonu Nigam will feature on the app on Sunday at 10 PM. Speaking on the occasion, Sachin said, "Many of you and my friends have asked me what are you going to do in your second innings of life. The first innings went on for 24 years. There are number of things which I am involved in, but something which I am looking forward to starting soon, in fact now, is the digital innings." It will allow me to get closer to my fans. My journey started as a 10-year-old who saw India win the World Cup in 1983, so in...

TVF CEO Arunabh Kumar Booked For Molestation

30Mar By Press Trust of IndiaNo Comments

News

TVF CEO Arunabh Kumar Booked For Molestation

The Mumbai police today booked web entertainment firm 'The Viral Fever's' founder Arunabh Kumar for allegedly causing sexual harassment to unknown women. The suburban Andheri police registered a case against Kumar under sections 354 A (causing sexual harassment) and 509 (insult the modesty of a woman by indecent words, gesture or acts) of Indian Penal Code, said DCP Ashwini Sanap, police spokesperson. Kumar hadn't been arrested, he said, without disclosing on whose complaint the FIR was registered. Earlier this month, an anonymous blog post by a woman alleging sexual harassment to her by Kumar when she worked at TVF between 2014 and 2016 had gone viral on the social media. It was followed by similar allegations by some other women. TVF had denied all the allegations and said it...

Indias Leading Ecommerce Company Saves Rs 3 Crore Per Month Using Anti-Fraud Policy

28Mar By Press Trust of IndiaNo Comments

News

Indias Leading Ecommerce Company Saves Rs 3 Crore Per Month Using Anti-Fraud Policy

E-commerce firm Snapdeal today said various anti-fraud measures taken by it have resulted in savings of Rs 3 crore per month for the online platform. "From checks on bogus or fake sellers to identifying fake user accounts, to deploying sophisticated algorithms that identify any suspicious trends, Snapdeal has consistently been working on enhancing security and transparency across the entire ecosystem. "The initiatives have resulted in the company saving close to Rs 3 crore per month," Snapdeal said in a statement today. Snapdeal said that range of initiatives launched at curbing fraudulent online transactions using analytics are accruing massive cost savings for the company. "For instance, based on purchase patterns and past behaviours, the system can identify whether a seller ...

Digital Content Industry Confident of Finding Place in Market

26Mar By Press Trust of IndiaNo Comments

News

Digital Content Industry Confident of Finding Place in Market

The digital content industry is confident of finding its place in the market soon, with the advertisers rising interest in it and the Broadcast Audience Research Council planning a measuring tool for the segment. The largely advertising driven and free subscription based over-the-top (OTT) platform is in a nascent stage in the domestic market with a dozen or so players. Being digital, it offers higher addressability and measurability of both the ads as well as the content. "Digital (market) is taking baby steps now to create content for the discerning people who want original content. Give this industry a year or two and you will see a big change," Viacom18 Digital Ventures Chief Operating Officer Gaurav Gandhi said over the weekend here. The YouTube, which is an ad-funded and use...

No Cost Incurred on PM’s Social Media Presence: PMO

19Mar By Press Trust of IndiaNo Comments

INDIA

No Cost Incurred on PM’s Social Media Presence: PMO

There is no cost to the exchequer on maintaining the social media presence of Prime Minister Narendra Modi, his office has said. The Prime Minister's official mobile App 'PMO India' was designed by students in a contest conducted by MyGov and hence there was no cost except the prize money in developing the application, it has said in response to an RTI filed by AAP leader and Delhi Deputy Chief Minister Manish Sisodia. "The App is maintained by PMO," it said. "Website of the Prime Minister's Office is www.pmindia.gov.in and is developed and maintained by PMO," it said. The office said the other social media presence of the Prime Minister's Office is managed by PMO and "as such there is no separate cost on the maintenance of the same". "No campaign was run by the PMO on any social ...

India, Russia to Set Up $1 Billion Business Fund

18Mar By Press Trust of IndiaNo Comments

News

India, Russia to Set Up $1 Billion Business Fund

India and Russia are setting up a USD 1 billion fund to promote mutual investments in infrastructure and technology projects, Commerce and Industry Minister Nirmala Sitharaman has said. Both the countries would contribute USD 500 million to the fund, Sitharaman said while addressing India-Russia Business Forum at the ongoing International Engineering Sourcing Show (IESS) here yesterday. While the Russian funds would be channeled through Russian Direct Investment Fund (RDIF), Indian contribution will be accrued from National Investment and Infrastructure Fund. Sitharaman elaborated upon other measures being taken by Russia and India to scale up their economic engagement and to boost bilateral trade and investment. As part of these initiatives, the India Russia CEO Forum will hol...

Security Flaw Found in WhatsApp, Telegram: Researchers

17Mar By Press Trust of IndiaNo Comments

News

Security Flaw Found in WhatsApp, Telegram: Researchers

A computer security firm today revealed a flaw that could let hackers break into WhatsApp or Telegram messaging accounts using the very encryption intended to protect messages. Check Point Software Technologies said that it alerted Telegram and Facebook-owned WhatsApp last week, waiting until the vulnerability was patched before making it public. Check Point did not specify how many messaging accounts were at risk, but did say the flaw posed a danger to "hundreds of millions" of users accessing the messaging platform from web browsers in computers, as opposed to mobile applications. "This new vulnerability put hundreds of millions of WhatsApp Web and Telegram Web users at risk of complete account take over," Check Point head of product vulnerability Oded Vanunu said in a release. ...

ShopClues Founder Aggarwal Files Defamation Case Against Wife, Co-founder Over Role Downplay

14Mar By Press Trust of IndiaNo Comments

News

ShopClues Founder Aggarwal Files Defamation Case Against Wife, Co-founder Over Role Downplay

NEW DELHI: ShopClues co-founder Sandeep Aggarwal today said he has filed a criminal defamation case against other co-founders -- Sanjay Sethi and estranged wife, Radhika -- in Delhi courts earlier this month alleging them of downplaying his role in creation of the online marketplace. The statement, issued by Sandeep's press team, comes a day after he made several allegations against Radhika in a series of Facebook posts. ShopClues was valued at over USD 1 billion last year. Its investors include GIC Pte Ltd, Tiger Global Managment LLC and Nexus Venture Partners. Apologising for the emotional outburst on social media and saying such acts will not happen again, the statement said, "Sandeep has been wronged on multiple counts by people he trusted the most. He is deeply hurt and while...

UP Assembly Polls: BJP Ahead in 305 Seats, Leaders Credit ‘Modi wave’

11Mar By Press Trust of IndiaNo Comments

INDIA

UP Assembly Polls: BJP Ahead in 305 Seats, Leaders Credit ‘Modi wave’

The BJP and its allies marched ahead in 305 Assembly seats in Uttar Pradesh as per trends from all the 403 seats, which showed the SP-Congress coalition leading in 68 places and BSP in only 20. Trends available till midday showed that the saffron party and its allies Apna Dal (Soneylal Patel) and Suheldev Bhartiya Samaj Party (SBSP) were way ahead, relegating rivals SP-Congress combine and the BSP to the second and third slots. The fledgling SP-Congress coalition was ahead in 70 seats (SP in 59 and Congress in 11), while BSP trailed far behind with leads in only 18 places. Gayatri Prajapati, who is absconding after the UP Police booked him in an alleged gangrape case and attempt to rape a minor, was trailing in Amethi, where Garima Singh (BJP), the first wife of Congress leader...