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No Impact of Brexit on Mahindra Group: V S Parthasarathy, Mahindra Group CFO

24Jun By sharadNo Comments

Entrepreneurs Talk

No Impact of Brexit on Mahindra Group: V S Parthasarathy, Mahindra Group CFO

Britain's exit from the European Union will have a muted impact on the over USD 17 billion Mahindra Group, but the event highlights the importance of sound risk management for the corporate world, the Group said today. The farm equipment to aerospace group, which has presence in the UK mostly in the IT and auto sectors, however said Brexit will result in uncertainty in the immediate aftermath which will moderate over time. "The impact on India and Indian industries will not be significant. No impact on M&M Ltd, the impact on Mahindra Group will be muted. As a group, our resilience will stand us in good stead and we are poised to take advantage of any opportunities that may emerge," Mahindra Group CFO, V S Parthasarathy said in a statement. He further said: "Brexit, was not a black...

Logistics Management Software Provider FarEye Raises $3.5 Million

23Jun By sharadNo Comments

FUNDING

Logistics Management Software Provider FarEye Raises $3.5 Million

FarEye, a logistics management software provider, today said it has raised USD 3.5 million (Rs 20 crore) from SAIF Partners. The series A funding will be used for business expansion to other territories, FarEye said in a statement. There is a strong road-map of product enhancement for next 12 months and new features will be added regularly, it added. The company plans to integrate with IoT platforms and drones to enable automated delivery. "We are profitable B2B startup and believe in organic growth. Plagued by operational inefficiencies and high costs, the USD 60,000 billion logistics industry provides a huge opportunity to FarEye. We are here to streamline logistics in all industry verticals," FarEye co-founder Kushal Nahata said. Established in 2013 by Kushal Naha...

16Jun By sharadNo Comments

News

Yahoo Shutting Down Yahoo Messenger

American multinational technology company Yahoo Inc. has announced the shutting down of its chat service Yahoo Messenger from August 5 this year. However, the company has asked all its users to move to the new version of the Messenger, introduced last year. "In December of 2015, we announced a brand new Yahoo Messenger for mobile, the Web and in Yahoo Mail on the desktop, built on a new modern platform. This complete revamp brings users an incredibly fast, beautiful and smart way to send - and unsend - messages, photos and animated GIFs in 1:1 and group conversations," Yahoo chief architect Amotz Maimon said while explaining the company's move. "While today we provide basic interoperation between the legacy product and the new Messenger, we encourage all of our users to comple...

Twitter Invests $70 million in SoundCloud

15Jun By sharadNo Comments

FUNDING

Twitter Invests $70 million in SoundCloud

Reuters- Twitter Inc has invested about $70 million in Berlin-based music service SoundCloud, technology website Re/code reported citing people familiar with the deal. Twitter confirmed the investment, but did not provide any financial details. "Earlier this year we made an investment in SoundCloud through Twitter Ventures to help support some of our efforts with creators," Twitter chief executive Jack Dorsey said. Soundcloud, a platform that enables people to upload and share music and other audio files, also confirmed that Twitter had made the investment. The news app company investment was part of a funding round expected to be in the range of $100 million, which would value SoundCloud at about $700 million, the Re/code report said. The micro blogging site has previously atte...

Parth Patel – An IITian behind birth of Carpooling idea in Mumbai

3Jan By sharadNo Comments

Entrepreneurs Talk

Parth Patel – An IITian behind birth of Carpooling idea in Mumbai

About Parth Patel and the reason behind this idea? Hi, I'm Parth Patel, co-founder of Zupp - an intra-city carpooling mobile app for daily office commute. In 2011, after graduating from IIT Delhi, I joined EY in Mumbai. Since I was accustomed to a hassle-free campus life, the menace of daily commute in Mumbai caught me unawares. At first, my good landlord allowed me to use his car for daily office commute, as his kids were all settled abroad and the car was just catching dust. I drove to office for first couple of days, but found it harder each day to find a parking spot. Eventually I was forced to shun the idea of taking my own car and instead started hailing taxis. I traveled daily from my home in Bandra West to the EY office in Dadar West. I had to wait for at least 15 mins before ...

Oditty: Another ‘Facebook’ Exploring Answers

27Aug By sharadNo Comments

Story

Oditty: Another ‘Facebook’ Exploring Answers

Tuesday afternoon, I finish my lunch sharp at 1.48 PM as Bhuwan is scheduled to call at 2 o'clock. Bhuwan calls two minutes late and somehow I miss it. I check my phone anticipating the delay only to find his miss call. I call him back and he is having lunch. How unprofessional, I eat my instant reaction. (more…)