Thursday, March 28

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Digital Payment News: Paytm Processes Rs 220 cr Payment, MobiKwik Tie-up With JNU, IIT-Delhi
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Digital Payment News: Paytm Processes Rs 220 cr Payment, MobiKwik Tie-up With JNU, IIT-Delhi

Digital payments platform Paytm today said it has processed sales of over Rs 220 crore at retail partner outlets during its four-day campaign. The Alibaba-backed company registered three-time surge in payment transactions across offline partner stores during its 12/12 Cashfree Festival, processing over Rs 220 crore in retail sales at partner stores during four days (December 9-12), it said in a statement. The company was processing over 3 lakh transactions per day in offline retail transactions worth around Rs 15-16 crore before the event, a company spokesperson said. "During the festival, we processed more than one million transactions every day worth close to Rs 55-60 crore," she added. Paytm had partnered with several major offline stores including Big Bazaar, Pantaloons, Spenc...
Apple Looking to Invest $1 Billion in SoftBank Tech Fund
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Apple Looking to Invest $1 Billion in SoftBank Tech Fund

Apple Inc has held talks to invest up to USD 1 billion in a new USD 100 billion tech fund being set up by Japan's SoftBank Group Corp, a source familiar with the matter told Reuters. SoftBank is investing at least USD 25 billion in the fund and has been in talks with Saudi Arabia's Public Investment Fund (PIF) for an investment that could go up to USD 45 billion. SoftBank has said it plans to make future large-scale investments via the tech fund, rather than on its own. Some of SoftBank's moves have caused concern among analysts, as the firm wrestles with a 13.7 trillion-yen (USD 119 billion) debt pile. SoftBank and Apple were not immediately available for comment. Through the investment, Apple would hope to gain insight on emerging technologies, the Journal said, adding that the...
Bill Gates Starts $1 Billion “Breakthrough Energy Ventures Fund” on Climate Change
FUNDING, News

Bill Gates Starts $1 Billion “Breakthrough Energy Ventures Fund” on Climate Change

Microsoft co-founder Bill Gates and a group of high-profile executives are investing USD 1 billion in a fund to spur clean energy technology and address global climate change a year after the Paris climate agreement. Gates launched the Breakthrough Energy Ventures fund on Monday along with billionaire entrepreneurs such as Facebook Inc head Mark Zuckerberg, Alibaba Group Holding Ltd Chairman Jack Ma and Amazon.com chief Jeff Bezos. The fund seeks to increase financing of emerging energy research and reduce global greenhouse gas emissions to help meet goals set in Paris, according to a statement by the investor group known as the Breakthrough Energy Coalition. It marked the first major investment of the coalition formed in December 2015 to spur research, development and deployment of c...
Hubli-based Aissel Technologies Wins Startup Karnataka Top Tech 25 Awards 2016
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Hubli-based Aissel Technologies Wins Startup Karnataka Top Tech 25 Awards 2016

Hubli-based Aissel Technologies Pvt. Ltd. has been chosen as a winner in Startup Karnataka Top Tech 25 Awards 2016. At the BengaluruITE.Biz event on 30th November, the award was presented to Aissel by IT Minister Priyank Kharge, former Infosys CEO Kris Gopalkrishnan, Principal Secretary of ITBT V. Manjula and Director of ITBT Tanushree Dev. Co founders Suraj Prabhu and Mahesh Grampurohit received the award. Aissel Technologies is an enterprise cloud software company based in Hubli. Their medical thought leader management solutions are deployed at leading global life sciences companies. Aissel's solutions help their life sciences customers understand the landscape of key opinion leaders in any disease area and create targeted communications strategies thereby achieving stronger professio...
Samsung Electronics to Supply Chips to Tesla Motors
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Samsung Electronics to Supply Chips to Tesla Motors

Samsung Electronics Co Ltd will supply semiconductors to US electric car maker Tesla Motors Inc, South Korea's Electronic Times reported on Friday citing unnamed sources. Samsung would contract manufacture chips for self-driving features in Tesla vehicles, the paper reported, without putting a value on the order. The South Korean firm has been trying to build auto-related sales for components such as semiconductors and displays in a push to develop a new growth engine. Samsung in November said it would acquire Harman International Industries (HAR.N) for USD 8 billion in a bid to grow quickly in the automotive market. Samsung did not immediately comment on the report, while Tesla could not be immediately reached for comment.
Vijay Shekhar Sharma Raises Rs 325cr By Selling His 1% stake
News

Vijay Shekhar Sharma Raises Rs 325cr By Selling His 1% stake

As per a news report, Vijay Shekhar Sharma India's leading e-wallet and recharge platform, Paytm, has sold 1% of his equity in One97 Communication to raise about Rs 325 crore for Paytm Payment bank. One97 Communications is the company that runs Paytm. The shareholder's name was not disclosed. Vijay had now 20.33% stake in One97 Communication. The transaction values One97 Communications at about $4.7 billion. Earlier Vijay Shekhar Sharma has received in-principle approval from the Reserve Bank of India after the company decided to transfer the e-wallet business to the payments bank entity to start the payments bank but the final approval is awaited. According to RBI rules, Sharma has to hold a 51% stake in the payments bank for which he has created a new entity-Paytm Payments Bank....
Has Demonetization Really Helped In Growth Of Paytm?
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Has Demonetization Really Helped In Growth Of Paytm?

December 9, 2016- Now wherever we go, whether its small shops or a big store, we see a Scanning code on the wall with "Paytm logo" which says PAYTM KARO. Paytm is an online payment transaction company that has been highly popular after the "Demonetization". After the Demonetization news was announced, on the next morning Paytm ads were carried on the first page of major newspapers of India. So the common question arises "Does really Paytm have gained beneficiary after demonetization"? As per sources, Paytm was seeking to raise money in August at a valuation of $5 billion. After demonetization Paytm transaction touched 5 million in a day regularly. Paytm transaction total hit Rs 24,000 crore a day and the company registered a 700% increase in overall traffic and 1000%percent growth to Pa...
GoDaddy Launches WordPress Powered Websites to Help Small Businesses
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GoDaddy Launches WordPress Powered Websites to Help Small Businesses

GoDaddy, the world’s largest cloud platform dedicated to small, independent ventures, today announces the launch of WordPress Websites for the India market. The new offering from GoDaddy is the easiest way to build a professional online presence easily and affordably using WordPress. Though it wouldn't hurt to also check out web hosting deals at ProductExpert, GoDaddy does provide a great service. It features an exclusive WordPress Quick Start Wizard that simplifies the website creation process to help people get started quickly to build their website. GoDaddy WordPress Websites are designed to help small business owners, individuals and web professionals easily convert their ideas online into a professional looking website with high-quality images and choices of templates. WordPress Webs...
Reader’s Digest Asked to Pay Rs 5 Lakh For ‘Dishonest’ Marketing
News

Reader’s Digest Asked to Pay Rs 5 Lakh For ‘Dishonest’ Marketing

The Delhi consumer commission has directed popular magazine Reader's Digest to pay Rs 5 lakh to an 86-year-old lady and deposit Rs 50 lakh as punitive damage with the Consumer Welfare Fund of the state for running a "deceptive contest" and promoting its sale "dishonestly". The Delhi State Consumer Disputes Redressal Commission held that the magazine had indulged in "unfair trade practice" by deceptively trapping readers by alluring them with contest prizes of Rs 24 lakh and a luxury car. The Commission praised complainant R Balamma, a Mysore resident who had filed the complaint, saying such people had a 'pro bono publico' spirit and served the public by bringing unscrupulous elements to courts of law. The magazine has denied all allegations in the district forum and termed them as fal...
India’s Leading Bitcoin Company Unocoin Launched Mobile App on iOS and Android
News

India’s Leading Bitcoin Company Unocoin Launched Mobile App on iOS and Android

Unocoin, India’s leading Bitcoin company, has announced the launch of its new mobile app for both iOS and Android devices. Developed by Unocoin, the app will allow consumers to buy, sell, send, receive and store bitcoin all in one place, from any remote device. Unocoin becomes the first company in India to offer a full featured mobile bitcoin app, with 24/7 access to real-time bitcoin market prices and instantaneous trading transactions. The implementation is timely because bitcoin adoption is rapidly ascending in India, coupled by government’s decision to demonetize 500 and 1000 Rupee notes. The implementation of a mobile app aligns with Unocoin’s mission in enhancing mainstream adoption and help bring bitcoin into the hands of billions. Unocoin’s app is currently live and is exp...
Amazon Launchpad For Startups- Register For Rs 5000 and Sell Your Product Worldwide
News

Amazon Launchpad For Startups- Register For Rs 5000 and Sell Your Product Worldwide

E-commerce giant Amazon today rolled out its global programme 'Launchpad' in India to provide startups in the country a platform to market, sell and deliver products across the globe. India is the seventh country where Amazon Launchpad has been made available, and the platform, "tailormade" for startups, is available for a fee of Rs 5,000 a month. Launchpad is already available in the US, UK, China, Germany, France and Mexico. Through the Launchpad page startups and entrepreneurs can sell products on a global scale, overcoming general marketplace challenges like requirements of large investments to get noticed and loss of margins in channels, the company said. Amazon Launchpad will offer startups and small enterprises access to custom pages where sellers can showcase their products th...
Indian PM Modi Wins Online Reader’s Poll For TIME Person of The Year
INDIA, News

Indian PM Modi Wins Online Reader’s Poll For TIME Person of The Year

Prime Minister Narendra Modi has won the online reader's poll for TIME Person of the Year 2016, beating out other world leaders like US President-elect Donald Trump, incumbent US leader Barack Obama and Russian President Vladimir Putin. Modi won with 18 percent of the vote when the poll closed last night, getting significantly more votes than his closest contenders, including Obama, Trump and Wikileaks Founder Julian Assange, who all received 7 percent of the 'yes' vote. Modi was also placed far ahead of other prominent figures of this year, like Facebook founder Mark Zuckerberg (2 percent) and US Presidential nominee Hillary Clinton (4 percent), Time said. Time's editors will decide the final Person of the Year later this week, but the online poll results provide a look at how the world...