Monday, December 23

Author: Rishabh

A love for stories and urge to be more exposed to the outer world made Rishabh to work with Pixr8 as a content writer. He choses to go with his personal interest of writing and hence is a writer not only by profession, but also by heart and choice. He is currently pursuing his B-tech from Noida.
Axis Bank In The Race To Acquire Freecharge
8Jul By RishabhNo Comments
ACQUISITION

Axis Bank In The Race To Acquire Freecharge

Axis Bank, India’s third largest private sector lender has emerged as one of the key-runner in the race to acquire e-commerce marketplace Snapdeal owned Freecharge, a digital payments platform founded by Kunal Shah. This payments platform has been seeking a suitable buyer since long, even as its parent company negotiates the terms for its own sale. Axis Bank is currently conducting due diligence on FreeCharge. According to M&A experts, the deal may turn out to a be of USD 20-50 million to Snapdeal. FreeCharge was earlier acquired by Jasper in 2015 in a cash-and-stock deal estimated around USD 400-450 million in what was the largest acquisition of any Indian startup back then. Freecharge has been in continuous talks with many companies for the past one year, but nothing seem...
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Uber Infuses $8 Million into India Ops- Distributed Between Mumbai And Delhi
7Jul By RishabhNo Comments
BUSINESS

Uber Infuses $8 Million into India Ops- Distributed Between Mumbai And Delhi

San Francisco-headquartered cab-aggregator Uber infused another amount of Rs 51.64 crore (about $7.9 million) into its Indian arms in May, documents filed with the Ministry of Corporate Affairs show. The money was distributed between Mumbai-based Uber India Systems Pvt. Ltd which received Rs 45.2 crore ($6.9 million) and Delhi-based Uber India Technology Pvt. Ltd got Rs 6.42 crore ($991,000). The funds came from Uber’s Netherlands-based subsidiaries, Uber Holdings International BV & Uber International BV (for Uber India Systems) and Besitz Holding BV & Mieten BV (for Uber India Technology). In its effort to capture markets and acquire customers, Uber has been making losses globally. The company’s 2016 net revenue stood at $6.5 billion while adjusted net losses were $2.8 billi...
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TalentEdge Defines Key Trends in Edtech Sector
5Jul By RishabhNo Comments
BLOGS, Story

TalentEdge Defines Key Trends in Edtech Sector

With the increased penetration of technology into our daily lives and smartphones taking over the world, India’s online education industry is expected to grow almost eight times to hit $1.96 billion by 2021, with the number of paid users rising six-fold from 1.6 million now to 9.6 million, as per a report by Google and consultancy firm KPMG. Traditional education systems, hence are losing their importance as both students and educators embrace what a basic edtech startup offers – convenience, personalization, and agility. “It is also interesting to note that high growth in education search queries is now coming in from Tier II and Tier III cities such as Patna, Guwahati, Aligarh and Kota, which points to the opportunities that growing penetration of smartphones and improving quality of...
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Just Dial Slips With The Resignation of CFO
4Jul By RishabhNo Comments
News

Just Dial Slips With The Resignation of CFO

Ramkumar Krishnamachari, chief financial officer of online local business search engine Just Dial Ltd, has resigned from the firm. Krishnamachari will be relieved from his duties with effect from 30 September 2017, Just Dial said in a stock-exchange filing. He joined Just Dial in 2010 and was instrumental in laying the groundwork for its initial public offering (IPO) in 2013. In his role as CFO, Krishnamachari led the firm’s finance, legal, taxation and secretarial functions besides being responsible for investor relations and stakeholder management. This is the second high-profile exit at Just Dial in less than a year since the departure of its chief technology officer RV Raman who stepped down in October 2016. Raman was the second CTO to leave the company in a year after his ...
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BookMyShow Acquired Restaurant-Discovery Platform Burrp
4Jul By RishabhNo Comments
ACQUISITION

BookMyShow Acquired Restaurant-Discovery Platform Burrp

Online ticketing platform BookMyShow, in which Reliance Industries-controlled Network18 holds a sizeable stake, has recently acquired restaurant-discovery platform Burrp, another Network18-owned firm. Burrp would continue to run as a separate entity said Bigtree Entertainment Pvt. Ltd, which runs BookMyShow. The Network18 divestment was made to Foodfesta Wellcare Pvt. Ltd, the BigTree subsidiary that owns and operates BookMyShow, a press statement said. The companies did not reveal the value of the all-cash deal, but a report in The Economic Times called it a “slump sale” and pegged it at a meagre Rs 6.7 lakh. Mansi Vora, head of mergers and acquisitions at BookMyShow, said, “Movie going in India is a social activity and food is an integral part of it. This is where Burrp fits in...
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Reliance Capital ARM Makes Seed Investment in Alternative Digital Lending Startup Billionloans
3Jul By RishabhNo Comments
FUNDING

Reliance Capital ARM Makes Seed Investment in Alternative Digital Lending Startup Billionloans

Billionloans Financial Services Pvt. Ltd. (“Billionloans”) today announced that it has closed a seed funding round of approx. Rs 7 crore (US$ 1 million) from Reliance Corporate Advisory Services Limited, a wholly-owned subsidiary of Reliance Capital. Billionloans is a technology-enabled financial services company, focused on providing flexible and affordable financing options to individuals and small businesses that have so far found it difficult to access loans from the traditional banking system to meet their aspirations. The company was founded by Dr. Rangan Varadan, a serial entrepreneur who has also co-founded MicroGraam, an online micro-lending platform and other professionals with long experience in the finance and IT industry. Billionloans connects borrowers to lenders dir...
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Delhi Police Relaunches Upgraded Version of Women’s Safety App ‘Himmat’
2Jul By RishabhNo Comments
INDIA

Delhi Police Relaunches Upgraded Version of Women’s Safety App ‘Himmat’

All set to be launched for the third time, the Delhi Polices women's safety mobile app Himmat will bring together all helpline numbers on one platform. The app was first launched in 2015 and despite its relaunch in April this year, it found few takers. To give the app a face lift, the Delhi Police has engaged students from the Indraprastha Institute of Information Technology. They have carried out a survey to study the shortcomings of the app. The students are young and can give fresh ideas that can be incorporated in the latest version of the app, said Delhi Police commissioner Amulya Patnaik. "The major clientele that we will be targeting is from the student community, so the idea is to get their feedback. In all probability we will try to finalise it by the end of this m...
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MaxWholesale Raises $1 Million Funding From IAN, Maple Capital Advisors
22Jun By RishabhNo Comments
FUNDING

MaxWholesale Raises $1 Million Funding From IAN, Maple Capital Advisors

MaxWholesale, a mobile based B2B grocery supply chain platform, has raised close to USD 1 million (Rs 6 crore), led by Indian Angel Network (IAN) and Maple Capital Advisors. These investors include names like Ambarish Raghuvanshi, Raman Roy, Sunil Munjal, Bikky Khosla, Pankaj Karna and Abhinav Grover among others, a statement said today. Last year in July, the firm raised Rs 1 crore (around $150,000) in a seed round from Maple Capital Advisers. MaxWholesale is powering the online wholesale process for more than 90 FMCG companies, some of them being Cadbury, Dabur, Patanjali, Capital Foods, P&G and HUL. “There are more than 7 million stores in India and the packaged consumer goods market in the country is worth more than $40 billion. MaxWholesale is leveraging the power of t...
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Facebook Launches New Tool to Protect Profile Pictures in India
22Jun By RishabhNo Comments
News

Facebook Launches New Tool to Protect Profile Pictures in India

To minimize the misuse of users’ profile pictures on the popular social networking site Facebook, it has introduced new tools in India that will allow users to prevent others from downloading the profile pictures. Profile pictures or display pictures, popularly known as DPs, are an important part of building community on Facebook because it helps finding people easily. (more…)
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