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SHAREit Becomes Model Case of a Company’s Rise in India

27Jun By AnkitaNo Comments

News

SHAREit Becomes Model Case of a Company’s Rise in India

Investors and entrepreneurs are always looking for opportunities in a booming market regardless of what stage of development that market is in. From China more than a decade ago to India nowadays, industry leaders have always kept an eye on the Asian market, while India has replaced China as the market with the most potential and become a new driver of global economic growth. Entrepreneurs from across the world are competing in India's internet market. As a result, companies that deliver quality products to India's immense number of consumers are building and consolidating a leading position in the global market. SHAREit is one such case. From gaining 1 billion users worldwide within five years, to appearing on Google Play's homepage over 700 times and claiming the number one spot on...

27Jun By AnkitaNo Comments

ANALYSIS

Impact of GST on Startup and Businesses

Goods & Services Tax (GST) is a consolidated, consumption based tax which will be levied on the supply of goods and services at a national level. It will combine major taxes like excise duty, CST, octroi, service tax, and VAT (value added tax) etc. into a single tax called GST, which will come into effect starting July 1st, 2017. Here are some of the ways startups and other common businesses will be impacted by GST- Small traders with an annual turnover of up to Rs. 20 lakh won’t be required to register the new GST Act, and with the north-east States, the exemption threshold is Rs.10 lakh. This would save many small scale traders and service providers from undertaking GST agreements and reduce a substantial weight off the shoulders of tax authorities. The GST in...

After Azim Premji Objection, Credit Suisse Reaches Out to Snapdeals Minority Shareholders

24Jun By AnkitaNo Comments

News

After Azim Premji Objection, Credit Suisse Reaches Out to Snapdeals Minority Shareholders

Investment bank Credit Suisse is reaching out to minority shareholders of Snapdeal to build a consensus on the sale of the e-commerce platform to larger rival, Flipkart. According to sources, Credit Suisse, which is advising Snapdeal on the proposed deal, is reaching out to smaller shareholders to get them on board for the acquisition. The beleaguered firm has a number of investors including PremjiInvest, Ontario Teachers Pension Plan, Ratan Tata, Foxconn, Temasek and BlackRock among others. Emails sent to Snapdeal and Credit Suisse did not elicit any response. PremjiInvest the personal investment arm of Wipro chairman Azim Premji and a minority investor in Snapdeal -- had written to the company seeking greater clarity on the deal terms. It has also called for equal treatment of ...

EdCast Acquires Content AI Start-up Sociative

24Jun By AnkitaNo Comments

ACQUISITION

EdCast Acquires Content AI Start-up Sociative

EdCast, the leading Knowledge Cloud platform for unified discovery and personalized learning, today announced the acquisition of Corte Madera-based Sociative, Inc. Founded in 2010, Sociative has developed highly focused content-discovery technology, using topical influencers, personalization and machine learning. Sociative founders Michael Tolson and Brad DeGraf are pioneers in the development of algorithmic inference technology for making sense of the real-time Web. "We are thrilled about joining forces with EdCast, given its mission and innovative technology that has been embraced by leading Fortune 500 companies worldwide," said Michael Tolson, Co-founder & CTO of Sociative, Inc. "We are looking forward to fully integrating our machine learning technology, which has gained so mu...

18Jun By AnkitaNo Comments

INDIA

Indian Government Approved a Start-up Incubation Centre for Mangaluru

The Indian government has approved a start-up incubation centre for Mangaluru to provide basic facilities for people intending to set up self-employment units, Union Minister Nirmala Sitharaman said. The Centre would start functioning within four months with an investment of Rs 1.18 crore, she said. Facilities would be provided to 60 start-up companies at the centre in the initial phase, the Minister of state for for Commerce and Industry said after inspecting the site identified for the centre here last evening. The start-up companies could function here for a specified term and required facilities would be provided in the second floor of the corporation sub office. Kanara Chamber of Commerce and Industry, Nitte University, National lnstitute of Technology, Karnataka (NIT-K)...

Online retailers like Paytm and 1mg Offer Discounts Ahead of GST

15Jun By AnkitaNo Comments

News

Online retailers like Paytm and 1mg Offer Discounts Ahead of GST

Online retailers like Paytm are offering special discounts to consumers to ensure that their sellers stock is cleared before the GST tax regime sets in from next month. Paytm has a Pre-GST Sale going on, hosting over 6,000 retailers across more than 500 brands. Consumers can get discounts and cashback on a range of product categories like TV, laptops, mobile phones, ACs, refrigerators, DSLRs and footwear, among other items. "This sale has come at an opportune time for offline retailers who are looking to offload their entire inventory before the new tax rates become effective," Paytm said in an emailed response of Pixr8. Even online drug marketplace, 1mg has joined the bandwagon. "Due to GST, there may be shortage of medicines in July. Stock medicines@20 per cent off on 1mg.com to ...

14Jun By AnkitaNo Comments

FUNDING

Bengaluru Based Goodera Raises $5.5 Million Funding From Nexus Venture, Omidyar

Goodera, a global CSR & Sustainability Management technology platform, co-headquartered in Bangalore and Menlo Park, today announced its Series A round of funding of $5.5mn from Nexus Venture Partners and Omidyar Network. Varsha Rao, previously Head of Global Operations at Airbnb also participated in this round along with other prominent angels. Goodera is a CSR Lifecycle Management platform embedded with strong domain expertise, providing corporates automation and intelligence across monitoring and evaluation, impact measurement, grant making, reporting and employee volunteering. Goodera solves the critical need for corporates and non-profits to have last mile visibility of progress and impact measurement of their CSR projects. It enables effective governance in deciding and mana...

Amazon India Doubles Seller Base to 2 lakh, Google Rolls Out Website With Google My Business

14Jun By AnkitaNo Comments

News

Amazon India Doubles Seller Base to 2 lakh, Google Rolls Out Website With Google My Business

E-commerce major Amazon India today said it has doubled the number of merchants on its e- commerce platform to two lakh in less than a year. Amazon.in has crossed the two million seller base mark in just four years of the companys operations in India, Amazon.in said in a statement. It added that the company has doubled the number in less than a year of crossing the one lakh seller count last July. "This fast pace of adoption has come on the back of various unique, India-first innovations like feet on street teams, self-service registration, Chai Cart and Tatkal," the statement said. It added that partnerships with several national and state government bodies also helped in reaching the milestone. Google rolls out Website with Google My Business Google today launched a new...

13Jun By AnkitaNo Comments

FUNDING

PeeSafe Raises $1 Million Funding Led by Venture Catalysts & Others

Toilet hygiene global brand, PeeSafe, run by Redcliffe Hygiene, has raised USD 1 million from Mumbai-based Venture Catalysts, Alfa Capital, Green Shots Capital, and Real Time Ventures. Angel investors who participated in the round include Harshita Mehta Jain, vice president at Redcliffe Capital, Amit Choudhary, partner, Motilal Oswal Private Equity and Govind Rajan Parthasarthy, former CEO of FreeCharge, among others. FMCG distribution companies like Quadrant also participated in the round driving retail distribution across one lakh stores, a company statement said. This investment validates disruption in FMCG typically led by incumbents mostly where hygiene and wellness is new wave of product portfolio with new models of distribution. PeeSafe got interest from global retailer and...

How Loan Frame Funding For Business Boosting MSME Sector in India

10Jun By AnkitaNo Comments

News

How Loan Frame Funding For Business Boosting MSME Sector in India

Micro, small and medium enterprises have a vital role in providing employment opportunities in India. The MSME sector also has a relatively lower capital cost compared to large industries. They also help in the development and industrialisation of rural areas. However, one major challenge that the sector faces at present is the non-availability of fast business loans and loans for UK companies.. Despite the difficulty of funding for business, MSMEs have been flourishing in recent years. The Indian economy is expected to become one of the leading economies in the world. Experts have estimated that the by 2025, the economy will hit the $5 trillion mark. And the backbone of the economy is the MSME sector. Challenges that the MSME Sector Faces MSME sector provides job opportunities,...

Kishore Biyani Led Future Enterprises Eyes on Divestment

8Jun By AnkitaNo Comments

BUSINESS

Kishore Biyani Led Future Enterprises Eyes on Divestment

Kishore Biyanis Future Enterprises today said its board has given in-principle approval for considering various divestment options for investments held by the company. The company was responding to media reports that Future Enterprises is looking to sell 50 per cent stake in its insurance venture Future Generali. "The board has given in-principle authority for considering various divestment options for investments held by the company," Future Enterprises said in a regulatory filing. It, however, denied having arrived at any such binding transaction or final understanding till date. Shares of Future Enterprises were trading 14.68 per cent higher at Rs 33.20 on the BSE.

Happiest Minds Acquires USA Based OSSCube

2Jun By AnkitaNo Comments

ACQUISITION

Happiest Minds Acquires USA Based OSSCube

Happiest Minds Technologies, a next-generation digital transformation, infrastructure, security and product engineering services company, announced the acquisition of OSSCube, a U.S. based digital transformation company. This acquisition will expand the company's portfolio of transformative offerings in the consulting-led digital space, especially around open source platforms. It will also significantly strengthen the company's ground game in North America, deepen CMO mindshare and build critical mass across the digital offerings stack. OSSCube was founded in 2008 by Lavanya Rastogi and Vineet Agarwal and provides consulting-led digital transformation and modernization services in the fast-growing areas of cloud, big data, e-commerce, enterprise mobility and open source. The firm is hea...