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Softbank Chairman Nikesh Arora Quits , #Nexit Trends on Twitter

21Jun By NitishNo Comments

News

Softbank Chairman Nikesh Arora Quits , #Nexit Trends on Twitter

In line with trending terms like "Brexit" and "Rexit", now Twitterati have coined a new expression "Nexit" after India-born Nikesh Arora announced his surprise resignation as President and COO at SoftBank. For the past several days, two words Brexit and Rexit have been trending. Brexit in short stands for Britains possible exit from the European Union, while Rexit word came up after RBI Governor Raghuram Rajan decided against seeking a second term. On Twitter, Aroras surprise exit was being referred as #Nexit, in line with the trending terms -- #Rexit (Rajan deciding not to take a second term) and #Brexit (Britains possible exit from the EU). India-born Nikesh Arora, President and COO at Japanese conglomerate SoftBank, today said he is stepping down from his role as Masayoshi ...

How Flipkart New CEO Binny Bansal Trying To Bring Back Its Old Team in Fight Against Amazon

20Jun By NitishNo Comments

News

How Flipkart New CEO Binny Bansal Trying To Bring Back Its Old Team in Fight Against Amazon

The Proverb of Old is Gold seems true in the case of India's largest e-commerce company Flipkart. Under new CEO Binny Bansal, Flipkart re-appointed Mr. Kalyan Krishnamurthy as head of categories. Before explaining anything about Flipkart re-joining strategy kindly read our previous report to get more clarification. Kalyan Krishnamurthy an executive at Flipkart’s largest investor Tiger Global Management was first appointed as a interim chief financial officer (CFO) & Category Head of Flipkart in February 2014. He left the company and joined Tiger Global again in November 2014. In 2015, Flipkart replaced its entire senior management and hired professionals from Google, Amazon etc. In 2016, due to shortage of funding and poor performance Flipkart's three senior executives lost...

Microsoft Will Use Linkedin As a Facebook For Professionals: Bill Gates

18Jun By NitishNo Comments

Entrepreneurs Talk

Microsoft Will Use Linkedin As a Facebook For Professionals: Bill Gates

San Francisco: Microsoft Corp. co-founder Bill Gates in an interview with Bloomberg TV’s said, "he’s enthusiastic about the company’s $26.2 billion acquisition of LinkedIn Corp., viewing it as an opportunity to build a business network for the working world like Facebook Inc. has created for social communities." Gates said in an interview with . “If we can make that as valuable as the Facebook feed in the social world, that’s huge value creation and that’ll happen over a period of years.” Users should be compelled to say: “This professional feed in LinkedIn, that is how I want to learn about my career, my company, my industry, and I’m going back there,”. The purchase is a way for Microsoft, which largely missed out on the consumer web boom dominated by the likes of Google and Face...

Cleartax Raises 80 Cr From SAIF Partners

18Jun By NitishNo Comments

FUNDING

Cleartax Raises 80 Cr From SAIF Partners

ClearTax , an online tax returns filing platform has raised another $12 million (Rs 80 crore) from SAIF Partners. The new round of funding will use to launch a slew of consumer-focused tax-saving products, including mutual funds and other equity-linked saving schemes. Also as part of the deal , managing partner at SAIF, has joined the board of ClearTax's "A typical agent is very bias. To solve for this, our products will be data driven, and completely transparent, to the extent that we will publish our commissions on the site itself," co-founder and CEO Archit Gupta said. "We are very excited to partner with Archit and team as they translate their market leadership in tax filing space to become one of the largest fintech platforms in India.", Ravi Adusumalli said. ClearTax which opera...

Just Dial, UTI MF, IRCTC in Fortune India Next 500 List

17Jun By NitishNo Comments

News

Just Dial, UTI MF, IRCTC in Fortune India Next 500 List

Just Dial, UTI Asset Management Company and IRCTC are among the firms that have made it to the Fortune Next 500 list of Indian companies, which has been topped by Dynamatic Technologies. Companies featuring in the Next 500 list are mostly mid-sized and termed as the small wonders by the magazine. Dynamatic Technologies tops the list with an annual revenue of over Rs 1,693 crore followed by Nectar Lifescience (Rs 1,692 crore), Oswal Wollen Mills (Rs 1,689 crore), VRL Logistics (Rs 1,682.5 crore) and Hitachi Home & Life Solutions (Rs 1,682.18 crore). Nectar Lifescience is a new entry in the list, while other four companies have shown improvements in their respective rankings from last year. According to the magazine, together Next 500 companies have generated a revenue of Rs 5,...

MobiKwik Launches Aadhaar ‘eKYC’, To Update e-Wallets in Real Time

16Jun By NitishNo Comments

News

MobiKwik Launches Aadhaar ‘eKYC’, To Update e-Wallets in Real Time

MobiKwik, the largest independent mobile payments company in India has launched eKYC for its users. eKYC is RBI approved, paperless process for fulfilling KYC requirements that will allow MobiKwik users to upgrade their wallet with Aadhaar card in real time. Once a user requests eKYC on the app, a company representative will reach the user's location within 30 minutes and do real time wallet upgrade. "This launch further simplifies the wallet experience for our users and they can now avail benefits of a KYC account within half an hour," said Chief Operating Officer MobiKwik, Mrinal Sinha. UIDAI's e-KYC service enables KYC process to be performed electronically with explicit authorization by resident. As part of the e-KYC process, the resident authorizes UIDAI (through Aadhaar auth...

Push Notifications Have Higher Engagement Rates Than SMS or Emails

15Jun By NitishNo Comments

News

Push Notifications Have Higher Engagement Rates Than SMS or Emails

E-commerce giants unanimously agree that more than 50% of their transactions happen on mobile devices and the figure is expected to reach more than 70% by 2019. Amid the advent of cheap data plans, increasing broadband connections and plummeting prices of mobile devices, the users' engagement like push notifications on mobile is higher than yesterday. Reflecting on this latest trend and the rapid growth in the mobile sector, WebEngage recently hosted a panel discussion on 'Mobile Growth'. The panelists included Avlesh Singh - CEO of WebEngage, Zishaan Hayath - CEO of Toppr, Nischal Shetty - CEO of Crowdfire and Sidharth Verma - CEO of Beewise among others. They stressed on the need to not stop relying on organic channels who give 100% authentic users rather than pricey channels who may ...

Meet Anvitha Vijay – A 9 Year Old Girl and Youngest Attendee at Apples Developer Conference

14Jun By NitishNo Comments

Story

Meet Anvitha Vijay – A 9 Year Old Girl and Youngest Attendee at Apples Developer Conference

A nine-year-old Indian-origin girl anvitha vijay has earned the distinction of being the youngest app developer at Apples annual developer conference with her apps for children and she now dreams of meeting the tech giants CEO Tim Cook. Anvitha Vijay from Australia is the youngest attendee at WWDC 2016 in San Francisco and has already built several apps for iPhone and iPad, a report in Fortune said. Anvitha Vijay spent a year watching free coding tutorials on YouTube and the web, and learned how to program. "Coding was so challenging. But Im so glad I stuck with it," she said. Anvitha Vijay, who has been developing apps about empowering children, hopes to meet Cook during the conference. "Its my dream to go to WWDC and meet Tim Cok," she said. Vijay is attending WWDC as p...

Microsoft Acquired LinkedIn in $26 Billion Cash Deal

13Jun By NitishNo Comments

ACQUISITION

Microsoft Acquired LinkedIn in $26 Billion Cash Deal

On Monday, Microsoft Corp acquired LinkedIn Corporation for $196 per share in an all-cash transaction valued at $26.2 billion, inclusive of LinkedIn’s net cash deal. LinkedIn will retain its distinct brand, culture and independence. Jeff Weiner will remain CEO of LinkedIn, reporting to Satya Nadella, CEO of Microsoft. Reid Hoffman, chairman of the board, co-founder and controlling shareholder of LinkedIn, and Weiner both fully support this transaction. The transaction is expected to close this calendar year. “Just as we have changed the way the world connects to opportunity, this relationship with Microsoft, and the combination of their cloud and LinkedIn’s network, now gives us a chance to also change the way the world works,” Weiner said. “For the last 13 years, we’ve been uniquely po...

Coffee Day Enterprises Unit Sical Logistics to raise Rs 100 cr

11Jun By NitishNo Comments

FUNDING

Coffee Day Enterprises Unit Sical Logistics to raise Rs 100 cr

Coffee Day Enterprises, which runs coffee chain under brand Cafe Coffee Day, today said its subsidiary Sical Logistics plans to raise Rs 100 crore through issuance of non convertible debentures (NCDs) on private placement basis. "The companys subsidiary Sical Logistics Ltd at their Board meeting have approved the proposal to raise a fund of Rs 100 crore by way of issue of secured non convertible debentures on private placement basis," Coffee Day Enterprises said in a BSE filing. The company said it will utilise the proceeds of funds raised for redemption of an existing NCDs of Kotak Mahindra Bank. "Kotak Mahindra Bank, the present holders of 12.75 per cent secured non convertible debentures of Rs 100 crore issued by our subsidiary company in 2013 through the IDBI Trusteeship commu...

10Jun By NitishNo Comments

FUNDING

TVS Automobile Invests in 3 Startups

TVS Automobile Solutions, a part of the Chennai-based TVS Group, today said it has made substantial investments in three startups as part of its digital initiatives to provide business solutions to vehicle and component manufacturers. The company, which has so far invested Rs 75 crore in various technology startups expects the new businesses to generate revenues to the tune of Rs 250 crore in the next three years. TVS Automobile Solutions (TVS ASL) said it has made investments in JAZZMYRIDE.com, an e-commerce player in auto aftermarket dealing with parts and accessories for passenger vehicles, two wheelers and commercial vehicles. It has also invested in AUTOSENSE, a technology and analytics based customer management services and REDSUN, a startup in Internet of Things space worki...

Microsoft Opens Cyber Security Center in Gurgaon

8Jun By NitishNo Comments

News

Microsoft Opens Cyber Security Center in Gurgaon

Technology giant Microsoft has unveiled its Cyber Security Engagement Center (CSEC) in Gurgaon in a bid to drive public-private partnerships to fight cybercrime and strengthen cooperation with Indian businesses, government and academic organisations on cyber security. "India stands at an exciting threshold today as data becomes a key driver of growth across every sector and industry and cloud-based computing become more prevalent. Cyber security is crucial for Digital India. A data driven economy can flourish only when governments, businesses and individuals have access to hyper scale and hyper flexible cloud computing with the confidence that their data is secure," said Bhaskar Pramanik, Chairman, Microsoft India. Microsoft's CSEC will work with the National Cybersecurity Coordinato...