Sunday, May 5

Author: Ankita

Despite E-comm Rise, Offline Stores Generating 91% Sale: Study
ANALYSIS

Despite E-comm Rise, Offline Stores Generating 91% Sale: Study

Despite rise in e-commerce business, brick and mortar stores still generate 91 per cent sales globally, a study has claimed. "Despite the rise of e-commerce, the physical stores still draw a significant shopping crowd. In fact, 91 per cent of all retail sales are still being generated in brick-and-mortar stores," the study released by Zebra Technology said today. Zebra Technology interviewed nearly 1,700 retail decision-makers across various retail segments, including speciality stores, department stores, apparel merchants, supermarkets, electronics, home improvement and drugstore chains, globally in 2016. "Around 28 per cent of the sample size were taken from Asia Pacific. Findings at Asia Pacific level are reflective of trends in India," Zebra Regional Sales Director for India a...
Anil Ambani Inducted Into Leading Global Think Tank Atlantic Council Alongside Rupert Murdoch & Others
News

Anil Ambani Inducted Into Leading Global Think Tank Atlantic Council Alongside Rupert Murdoch & Others

Washington D.C. / Mumbai, March 28, 2017: The Atlantic Council today announced the induction of Anil Ambani, one of India’s best known business leaders, to its International Advisory Board – a prominent group of global corporate and political leaders. Former Utah Governor and Chairman of the Atlantic Council, Jon M. Huntsman, said “I am delighted to welcome my good friend and colleague Anil formally to join our team. The Atlantic Council’s presence in South Asia and, in particular, India is growing at a rapid pace and Anil’s presence on our board could not be more timely. We look forward to working with him to make a difference.” Other notable Members of the International Advisory Board include Dr. Zbigniew K. Brzezinski, Former U.S. National Security Advisor, Kevin Rudd, Former Pr...
Route Mobile Founders Invests 65 Crores to Start Its Gaming Startup
FUNDING

Route Mobile Founders Invests 65 Crores to Start Its Gaming Startup

Route Mobile founders Rajdip and Sandip Gupta today announced an investment of USD 10 million or over Rs 65 crore to start an electronic gaming startup, Cobx Gaming Ventures. "As avid gamers ourselves we have always wanted to contribute to the growth of professional esports," Rajdip, the founder of Cobx, was quoted as saying in a statement. He added the esports category has matured in such a way that gamers can now consider it as a career as well. Mujahid Rupani has been named as chief executive of the new venture, the statement said. Cobx has also announced the launch of an international and Indian esports league. It will also be forming new international teams for popular online games, it added. Route Mobile is a city-based messaging and voice API company serving global clien...
Indus OS Raises Funds From JSW Ventures, VenturEast
FUNDING

Indus OS Raises Funds From JSW Ventures, VenturEast

Indus OS, a startup which has created a regional operating system, today said it has raised an undisclosed amount from new investors JSW Ventures and VenturEast in recently-concluded financing round. Omidyar Network, an existing investor, has also participated in the latest round. "The amount which has been raised will be used for product development and hiring new talent," Indus OS CEO & co-founder Rakesh Deshmukh told.
Amid Stayzilla Controversy, Karnataka IT Minister Said No Startups, Vendors Are Above The Law
INDIA, News

Amid Stayzilla Controversy, Karnataka IT Minister Said No Startups, Vendors Are Above The Law

Amid the raging Stayzilla controversy, Karnataka IT Minister Priyank Kharge today said no industry, including startups and vendors, are above law and should function within the parameters and anybody raising money should pay up. Yogendra Vasupal, co-founder of Stayzilla, was arrested on March 14 for alleged cheating and criminal intimidation. "Stayzilla controversy has been blown out of proportion. However the advise I would give in this whole episode is that there are rules and regulations for everyone - whether it is for SMEs, startups or big corporations."If you have raised or taken money, you have to pay up. You cannot say I will not pay," Minister told Pixr8. Asked whether advertising firm Jigsaw alone should be blamed for the entire Stayzilla episode, as alleged by Vasupal, ...
Two Policemen Suspended For Detaining Entrepreneurs
INDIA

Two Policemen Suspended For Detaining Entrepreneurs

Two policemen have been suspended and show cause notices issued to two police officers following the detention of two entrepreneurs who had allegedly created ruckus at a start up meet in the presence of Bihar Chief Minister Nitish Kumar. The two entrepreneurs, who were frequently speaking without the chief ministers permission at the programme on March 21, were detained by the Patna police and questioned at Gandhi Maidan police station for a personal background check. "Two policemen, including sub-inspector Dilip Chauhan and constable (Munshi) Shambhu Sharan Paswan, posted with the Gandhi Maidan police station were suspended yesterday for unnecessarily detaining the two entrepreneurs," Senior Superintendent of Police (SSP) Manu Maharaj said today. "Show cause notices have been iss...
MIT Pune, IBM Unveil Robot Chintu
News

MIT Pune, IBM Unveil Robot Chintu

The students of Maharashtra Institute of Technology (MIT) Pune and technology giant IBM have developed a robot, Chintu, which would assist senior citizens in their everyday tasks. Chintu, under 2ft tall robot, was developed after MIT Pune received a grant of Rs 10 lakh last year from IBM. It is powered by the US-based companys cognitive assistant, IBM Watson. Chintu can move his hands and read books to an audience. "Drawing from Watsons domain knowledge, Chintu will assist senior citizens in conducting everyday tasks such as reading the newspaper/book and generate reminders on their daily medication," Professor and Head of Computer Engineering Department at MIT Pune, Vrushali Kulkarni, told Pixr8. She added that the students have been working on the project for the past few months. Wh...
Digital to Overtake Traditional Mediums By 2021-22: EY
ANALYSIS

Digital to Overtake Traditional Mediums By 2021-22: EY

Digital mediums are likely to surpass traditional ones by 2021-22, when smart phone and broadband penetration increases in the country, according to EY India. "When does digital overtake physical? When smart phone penetration becomes 50 per cent of the population, which in our case will happen in 2019-2020. Second factor is when broadband is equal to one-third of the smart phone penetration, which in our case will happen only by 2021-22, according to our estimate. The third factor is parity between cost of the two services," EY India media and entertainment advisory leader Ashish Pherwani said. According to market research firm e-Marketer, Indians spend about two-and-a-half hours per day on traditional media including television, radio, newspapers, and magazines, compared to the o...
Trademark row: HC allows Intex to Sell Aqua Brand Mobiles
Tech

Trademark row: HC allows Intex to Sell Aqua Brand Mobiles

The Delhi High Court has allowed major mobile phone maker Intex to sell its Aqua brand handsets and accessories in the local market. A bench of Justices Badar Durrez Ahmed and Ashutosh Kumar passed the judgement while setting aside a single judges interim order barring Intex from selling its Aqua handsets and accessories, taking note of a trademark infringement plea of market rival Az Tech. "We feel that respondent (Az Tech) have neither made out a prima facie case in their favour, nor is the balance of convenience in their favour. In fact, irreparable injury would be caused to appellant (Intex) if an injunction were to be granted or continued. "And, above all, the conduct of Az Tech has not been honest, to say the least. This by itself disentitles them from getting an order of in...
Oppo Becomes New Sponsor of Indian Cricket, Replaces Star India
News

Oppo Becomes New Sponsor of Indian Cricket, Replaces Star India

Mobile manufacturing company OPPO today became the new sponsor of the Indian cricket team, replacing broadcasting giants Star India. The deal was about 1079 crore for 5 years. Oppo will pay Rs 4.61 crore per bilateral match and Rs 1.56 crore for an ICC event match, while STAR India paid Rs 1.92 crore per bilateral match and Rs 61 lakh for an ICC match. "The Board of Control for Cricket in India (BCCI) is pleased to announce OPPO Mobiles India Private Limited as the new team sponsor for the Indian Cricket Team," the BCCI said in a statement. "The mobile manufacturing giant OPPO's association with BCCI will start from April 2017 for a period of five years," it added. Star India had made it clear that it would not seek a renewal of its sponsorship deal, which was to end next month...
Tech Mahindra Set Up Future Lab in Bengaluru For AI, AR and Manufacturing Design
News

Tech Mahindra Set Up Future Lab in Bengaluru For AI, AR and Manufacturing Design

Tech Mahindra today announced that it has set up a "state-of-the-art" lab at its campus here, which works on technologies that are expected to power the future factory floors. Known as the "Factory of the Future" lab, the new centre showcases assets and solutions in the areas of Digital Manufacturing, Connected Machines, Addictive Manufacturing, Robotics & Automation, Artificial Intelligence & Analytics, and Augmented Reality & Virtual Reality, the company said in a statement here. It also said the lab will demonstrate solutions and products built in association with many leading software and hardware vendors, adding that it is built in modular form to showcase Industry 4.0 concepts that are central to be able to help building the digital backbone of client organisations. It makes ...
Alibaba Acquired 1% More Equity in Paytm, Up Stake to 41%
ACQUISITION

Alibaba Acquired 1% More Equity in Paytm, Up Stake to 41%

Reliance Capital has sold its nearly 1 percent stake in popular digital payments firm Paytm for Rs 275 crore to China's Alibaba Group in a deal reaping huge gains for the Anil Ambani-led group firm. The financial services arm of Reliance Group had invested Rs 10 crore for this stake in Paytm. The deal gives a valuation of over USD 4 billion to Paytm, which is already backed by Alibaba group as a strategic investor. Sources said that Reliance Capital has retained a stake in Paytm e-Commerce, which it had got free of cost by virtue of the investment in the parent firm. In the latest fund-raising round, Paytm e-Commerce was valued at USD 1 billion. A Reliance Capital spokesperson declined to comment on the deal while Paytm spokesperson also did not comment. Earlier, Reliance C...