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Paytm Introduces Nearby, a Seamless Way to Find Your Nearest Paytm Merchant

11Nov By PriyankaNo Comments

News

Paytm Introduces Nearby, a Seamless Way to Find Your Nearest Paytm Merchant

As part of its ongoing mission of helping India go cashless, Paytm, India’s largest mobile payments and commerce platform, today introduced the ‘Nearby’ feature on its platform. This will enable Paytm customers to get information about their nearest Paytm merchant. Paytm ‘Nearby’ will carry a directory of 800,000 of offline merchants and partners across India. In the first phase, this list is 200,000+ & will continue to grow everyday. Customers on their Paytm app or web can now browse through a list of shops & locations near them that offer services like accepting adding cash to e-wallet & upgrading accounts by doing KYC. This not only provides convenience to customers but also provides visibility to thousands of small and medium merchants by connecting them to millions of ...

Jabong Records 50% Growth in Net Revenues, 40% Increase in App installation

11Nov By AdityaNo Comments

News

Jabong Records 50% Growth in Net Revenues, 40% Increase in App installation

Fashion e-tailer Jabong said it saw 50 percent revenue growth month-on-month in October, closing the month with positive unit economics for the first time in its history. The Myntra-owned company achieved a positive gross profit for the first time ever, propelled by revenue growth and fulfillment cost reduction, Jabong said in a statement. However, the company did not specify the gross profit made or the total revenues for October. "Jabong has closed October with the first ever positive unit economics month, becoming only the second online e-commerce company in India to do so after Myntra," it added. Jabong said the growth was accompanied by a surge in customer net promoter score (NPS) -- a measurement of customer satisfaction -- to 50 percent. The company held its sale in October...

Nadella Congratulates Trump; Looks Forward to Work With Him

11Nov By NitishNo Comments

Entrepreneurs Talk

Nadella Congratulates Trump; Looks Forward to Work With Him

Tech giant Microsoft's India-born CEO Satya Nadella has congratulated US President- elect Donald Trump and said he looks forward to working with all those elected in the general election. "Yesterday, we witnessed the democratic process in action here in the US. The results are of importance around the world, and I know that interest is shared among Microsoft employees," Nadella, 49, wrote on Microsoft-owned professional networking site LinkedIn yesterday. "We congratulate the president-elect, and look forward to working with all those elected yesterday. Our commitment to our mission and values are steadfast, and in particular fostering a diverse and inclusive culture," he said. In a stunning result, Trump yesterday beat seasoned politician and Hillary Clinton in the knife-edge ...

India’s Imports From China to See a Major Decline: Report

5Nov By Press Trust of IndiaNo Comments

CHINA, INDIA

India’s Imports From China to See a Major Decline: Report

Demand for Chinese products in India is decelerating and imports from the country would see a "major hit" in the coming months, according to a report, which revealed a significant shift in the consumption pattern of Indian consumers towards domestic products. The analysis by the PHD Chamber of Commerce & Industry said increasing competitiveness of India's production capabilities to match its Chinese counterparts due to the improvement in the ease of doing business was another factor responsible for the trend. Indian production capabilities are becoming competitive as compared with China because of many reasons such as improvement in the ease of doing business. Also, there is a significant shift in the consumption pattern of Indian consumers from the Chinese products to domestic p...

Microsoft Launches Messaging System “Microsoft Teams” For Businesses

4Nov By reutersNo Comments

News

Microsoft Launches Messaging System “Microsoft Teams” For Businesses

Microsoft has launched a messaging system for businesses, Microsoft Teams, on Wednesday, putting it in direct competition with fast-growing startup Slack and Facebook's Workplace product. The new software will be part of Microsoft's Office 365 services, a cloud-based software suite that has more than 85 million monthly active commercial users. Slack, whose customers include CBS Corp, BuzzFeed, universities and the U.S. government, had over 4 million daily active users in October. San Francisco-based Slack took out a full page ad in the New York Times on Wednesday, addressing the entry of Microsoft Teams. "We're genuinely excited to have some competition," Slack said in the ad. Microsoft said a preview of Teams will be available to Office 365 commercial customers with enterpris...

3Nov By AdityaNo Comments

FUNDING

Zarget Raises $6 Million Series A Funding From Sequoia India

Zarget today announced it has raised $6M Series A round of funding, led by Sequoia India, with participation from current investors Accel, and Matrix Partners. The company plans to use funds to scale its marketing automation products and help small businesses easily optimize their web presence in real-time without any coding skills required. With Zarget’s all-in-one platform, any business owner has an easy and affordable way to become an effective digital marketer and improve performance of their websites instantly, without learning how to code or hiring an expensive IT department. Zarget offers all of the capabilities of competing solutions and more – including A/B testing, dynamic heatmaps, funnel analysis, form analytics, and user polls and feedback – but at 10% of the cost, and it’s...

29Oct By Press Trust of IndiaNo Comments

CHINA

U Turn of China’s Official Media- Supporting Chinese Companies Investment in India

Arguing that anxieties of Chinese businesses in investing in India are "overblown", official media today said investors can make "fat gains" by cashing in on the rapid growth in India's manufacturing sector and staying away is indisputably an "unwise choice". Making a strong case for why Chinese should rush their investments to India, an article in the official daily Global Times said "the rapid growth in India's manufacturing sector has thus far had little to do with Chinese capital". "In other words, China does not have the capability to limit India's manufacturing development. What China is capable of is preventing Chinese investment from capitalising on India's admired growth outlook, indisputably an unwise choice," the article written by Ge Cheng, Research fellow at the National...

27Oct By Press Trust of IndiaNo Comments

INDIA

Indian Industry Body CII is Not Happy With World Bank’s Doing Biz Ranking of India

Expressing "surprise and disappointment" over India's ranking in the World Bank's ease of doing business index, industry body CII said it has not captured key reforms undertaken by the government. "We are a little surprised by the ranking," CII Director General Chandrajit Banerjee told reporters here. India's ranking of 130th is not in tandem with the effort's being made by the government to improve business environment in the country, he said. CII Past President Sunil Kant Munjal said: "This result was surprising and disappointing because one can see the kind of work happening in the government". In the World Bank's latest 'Doing Business' 2017 report, India's place remained unchanged from last year's original ranking of 130 among the 190 economies that were assessed on various p...

Focus on Business & Market Leadership, Not on Cyrus Mistry Exit: Ratan Tata

25Oct By NitishNo Comments

Entrepreneurs Talk

Focus on Business & Market Leadership, Not on Cyrus Mistry Exit: Ratan Tata

A day after the abrupt ouster of Cyrus Mistry as Tata Group chairman, Ratan Tata, who has assumed charge as interim Chairman, today asked senior management of the conglomerates firms to focus on their businesses without being concerned about the top level change. Stating that his role is for short term so as to ensure stability and continuity at the group, Tata asked top executives of the USD 100 billion conglomerate to act as leaders in respective markets and focus on enhancing returns to shareholders. "I assumed the role of the interim Chairman for stability and continuity so that there is no vacuum. This will be for a short time. A new permanent leadership will be in place," he said while addressing managing directors and senior leaders of Tata companies at the Bombay House. In...

25Oct By PriyankaNo Comments

FUNDING

Bengaluru Based KredX Raises $6.25 Million Series A Funding

Invoice discounting marketplace, KredX has raised USD 6.25 million in Series-A round of funding led by Sequoia India. Company’s existing investor Prime Venture Partners also participated in this round and had earlier invested USD 750,000 in April of this year. The funding will be used by KredX to strengthen its technology, data and sales functions within the company. Bangalore-based KredX, Formerly known as Mandii is an online marketplace for SME lending that connects enterprises looking for financing and investors looking to earn higher short-term yields with lesser risk. Borrowers can upload payment pending invoices or post-date instruments of their customers, select from among the best bids available and receive funds. Investors can view invoices, PDIs from SMEs along with cred...

Times Internet Eyes Rs 1,000 Cr Net Revenue in FY17

25Oct By AdityaNo Comments

BUSINESS

Times Internet Eyes Rs 1,000 Cr Net Revenue in FY17

Times Internet, the digital products company owned by media conglomerate BCCL, is eyeing a net revenue of over Rs 1,000 crore during the current financial year. "Over the last four years, we've focused on changing from being a media company to a full stack product and technology company. At this time, both our net revenues and audience reach have grown 3-4 times, which makes us feel positive about the effect of our strategy," Times Internet CEO Gautam Sinha said in a statement. The company has crossed 175 million unique monthly visitors and "is on track to cross Rs 1000 crore in net revenue this fiscal year," it said. The firm owned by Bennett Coleman & Co Ltd (BCCL) runs over 35 digital properties including Timesofindia.com, Cricbuzz, Gaana.com, MagicBricks and MensXP, among...

Patanjali to Enter Textile Manufacturing Sector, Says Baba Ramdev

22Oct By Press Trust of IndiaNo Comments

Entrepreneurs Talk

Patanjali to Enter Textile Manufacturing Sector, Says Baba Ramdev

Patanjali is entering the textile manufacturing sector, its founder Yoga guru Baba Ramdev today said and expressed hope that the groups growth rate will swell to 200 per cent in the next fiscal. Patanjali group will make a big venture in textile manufacturing sector and apart of traditional kurta-pajama, it will come out with foreign wears like jeans, Ramdev said at the inaugural function of the two-day Global Investors Summit here. "Our growth rate is 100 per cent in the current fiscal, which is going to climb to 200 per cent in the next financial year," he said. He said Patanjali group wants to throw up Rs 10,000 crore income avenues to farmers in farming, milk production and other sectors in the next 2-3 years. Ramdev said that big economies globally were facing a slowdown but our...