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Innovation Helped us Hold Over 3/4th Market Share: Ola COO Pranay Jivrajka

19Dec By PriyankaNo Comments

Entrepreneurs Talk

Innovation Helped us Hold Over 3/4th Market Share: Ola COO Pranay Jivrajka

Transport aggregator Ola today said its India-focussed innovations like offline booking and local language apps have helped the homegrown company "effectively hold onto over three-fourth market share". The SoftBank-backed firm, which is locked in an intense battle with US-based Uber, also claimed that every bit of technology it has built has been "made from the ground up without any premise to use as a base". "When they (Uber) launched in India in 2013, Ola hardly had a first mover advantage as we were doing just about 2,000 bookings a day. In spite of this, we have continued to build on our innovations effectively holding onto over three-fourth of the market-share," Ola COO Pranay Jivrajka told Pixr8. He added that the focus needs to be on localisation for building customised products f...

Sold Business in China Because Wants Full Focus on India – Travis Kalanick, CEO, Uber

17Dec By AnkitaNo Comments

Entrepreneurs Talk

Sold Business in China Because Wants Full Focus on India – Travis Kalanick, CEO, Uber

Months after selling its stake in China, Uber CEO Travis Kalanick today said it sold its stake to rival Didi since the "battle in China became global", prompting the US-based company to focus on other areas such as Ubereats, driverless cars and markets like India. "The battle in China had become global. We had sovereign wealth of China being invested in our competition globally. We had American tech companies that were being compelled to invest in our competitor in China. And so China battle had become a global battle," Kalanick said at the TiE Global Summit here. In August, the Chinese ride-hailing firm Didi Chuxing announced acquisition of Uber's operations in China in a USD 35 billion deal. While Didi acquired Uber China's brand, business operations and data, Uber received 5.89 perc...

Paytm Alleges Customers Cheated 6.15 Lakh, CBI Registers FIR

17Dec By NitishNo Comments

News

Paytm Alleges Customers Cheated 6.15 Lakh, CBI Registers FIR

CBI has registered an FIR against some customers of digital wallet Paytm on the company's complaint that it has allegedly been cheated to the tune of Rs 6.15 lakh by customers based here. It is rare for the agency to take up such cases unless they have been referred by the central government or there are directions by the Supreme Court or a high court. CBI has registered FIR against 15 customers who are residents of Kalkaji, Govindpuri and Saket besides unknown officials of One97 Communications--parent company of Paytm. The complaint from the Manager Legal, M Sivakumar, claimed that the company makes payment for defective products received by a customer and also arranges a reverse pickup of the damaged product which is sent to the merchant. The process is done by a team of custome...

We are Ready to Build Hyperloop Between Mumbai and Pune: Bibop G Gresta, Co-founder of Hyperloop Technologies

8Dec By AnkitaNo Comments

Entrepreneurs Talk

We are Ready to Build Hyperloop Between Mumbai and Pune: Bibop G Gresta, Co-founder of Hyperloop Technologies

Elon Musk-backed Hyperloop Transportation Technologies (HTT) Co-Founder Bibop G Gresta today said the company is ready to build Hyperloop between Mumbai and Pune, but the decision is left with Union Transport Minister Nitin Gadkari to go ahead with the project. "Gadkari has a proposal to build the Hyperloop on his table and he has to take a decision. If he wants to go ahead with it, we are ready, and it will be a feasibility study to begin with to lay line between Bombay (Mumbai) and Pune," he told PIXR8 here on the sidelines of the Carnegie Global Technology Summit 2016 here. Hyperloop runs faster than an aircraft at a speed of 1,120 kmph. Asked about the regulatory challenges to build Hyperloop in India, Gresta said Gadkari, during the meeting, had expressed the Indian Government's w...

India’s Leading Bitcoin Company Unocoin Launched Mobile App on iOS and Android

6Dec By PriyankaNo Comments

News

India’s Leading Bitcoin Company Unocoin Launched Mobile App on iOS and Android

Unocoin, India’s leading Bitcoin company, has announced the launch of its new mobile app for both iOS and Android devices. Developed by Unocoin, the app will allow consumers to buy, sell, send, receive and store bitcoin all in one place, from any remote device. Unocoin becomes the first company in India to offer a full featured mobile bitcoin app, with 24/7 access to real-time bitcoin market prices and instantaneous trading transactions. The implementation is timely because bitcoin adoption is rapidly ascending in India, coupled by government’s decision to demonetize 500 and 1000 Rupee notes. The implementation of a mobile app aligns with Unocoin’s mission in enhancing mainstream adoption and help bring bitcoin into the hands of billions. Unocoin’s app is currently live and is exp...

Indian PM Modi Wins Online Reader’s Poll For TIME Person of The Year

5Dec By Press Trust of IndiaNo Comments

INDIA, News

Indian PM Modi Wins Online Reader’s Poll For TIME Person of The Year

Prime Minister Narendra Modi has won the online reader's poll for TIME Person of the Year 2016, beating out other world leaders like US President-elect Donald Trump, incumbent US leader Barack Obama and Russian President Vladimir Putin. Modi won with 18 percent of the vote when the poll closed last night, getting significantly more votes than his closest contenders, including Obama, Trump and Wikileaks Founder Julian Assange, who all received 7 percent of the 'yes' vote. Modi was also placed far ahead of other prominent figures of this year, like Facebook founder Mark Zuckerberg (2 percent) and US Presidential nominee Hillary Clinton (4 percent), Time said. Time's editors will decide the final Person of the Year later this week, but the online poll results provide a look at how the world...

3Dec By NitishNo Comments

News

World’s Most Functional Smart Wallet Launched in India by Cuir Ally

We all have forgotten our wallets at restaurants, offices, shops, or at even at our own houses only to lose them eventually. Now imagine if your smartphone could notify you if you leave your wallets behind, imagine if you could ring your wallet to find it and what if you could take a selfie with your wallet, wouldn’t that be something amazing to own? Cuir Ally, a recently launched luxury leather goods brand has launched their flagship product, the Voyager Smart Wallet which not only amazes us with the above features but also promises a design revolution in the leather wallet segment, which has seen hardly any major innovations over the past several decades. Voyager Smart, made of fine-grain premium leather prides itself in being the World’s Most Functional Smart Wallet, as apart from...

Alibaba Backed Out To Acquire Indian E-commerce Firm Snapdeal

2Dec By AnkitaNo Comments

News

Alibaba Backed Out To Acquire Indian E-commerce Firm Snapdeal

China's Alibaba Group Holding is not buying Indian e-commerce company Snapdeal and is not in talks to do so, a person familiar with the matter said on Thursday, dampening talk that an acquisition was in the works. Rumour rumour on the wall, which troll did you callYou said sold, they said bought, but whoever listened to you didn't get diddly squat.— Kunal Bahl (@1kunalbahl) December 1, 2016 Hangzhou, China-based Alibaba was also in talks with Flipkart for a potential buyout but it seems like the talks have fallen through as Alibaba takes an interest in acquiring Snapdeal, which has raised over $1.76 billion in 12 funding rounds. Alibaba had already invested in India's leading online payment platform Paytm in September 2015, also acquired 40% stake. A strategy likely t...

Global IT firm Ericsson Willing to Mentor Startups in India

1Dec By AdityaNo Comments

News

Global IT firm Ericsson Willing to Mentor Startups in India

Global IT firm Ericsson today said it is willing to extend helping hand to mentor start-ups in India. "The start-up economy in India is booming. In the next couple of years, it will be huge," Ericsson India Global Services managing director Amitabh Ray told Pixr8 on the sidelines of Infocom ICT seminar here. He said Ericsson is studying how the start-up ecosystem is being built in India. "We want to see how the start-ups are doing and what kind of disruptions can it bring. If we find that any start-up needs mentoring, we can think of it," Ray said. When pointed out 99 per cent of the start-ups were failing, he added VCs hire people who were expert in killing companies which do not have a future in order to stop the drainage of resources. To a query, he said Ericsson does not ha...

Mohandas Pai Warns Indian Businessmen For Not Investing in Indian Startups

20Nov By NitishNo Comments

Entrepreneurs Talk

Mohandas Pai Warns Indian Businessmen For Not Investing in Indian Startups

With China and the US pumping in massive foreign capital into India's digital economy, a top Indian investor and educationist has warned that the country could become a "digital colony" unless Indian businesses start investing in it. "India could become a digital colony," warned Mohandas Pai, chairman of Manipal Global Education, referred to possible consequences of the massive money being pumped into India's digital economy by the US and China. "There is a fight between US and China to dominate digitally. And the Indian capital where they are, buying real estate in California?" he asked. "If you miss this digital revolution, our big companies would be controlled by Chinese capital which is very dangerous," Pai warned. India, which has the world's third largest startup eco system, has ...

India Inc Commits $3.4 Billion For SDGs at Global Citizen Festival

20Nov By PriyankaNo Comments

News

India Inc Commits $3.4 Billion For SDGs at Global Citizen Festival

Corporate leaders today committed a whopping USD 3.4 billion to help achieve the sustainable development goals which can positively impact the lives of 500 million people across the country with a special focus on gender equality, education and water and sanitation. These financial offers were made at the concluding day of the first-ever Global Citizen Festival here today. The Global Citizens India chapter said this came in response to over 20 lakh initiatives and campaigning efforts by them, and the key focus will be ending extreme poverty. The body said that of the 25 commitments worth USD 3.37 billion, or Rs 22,940 crore, that will cover over 50 crore people, $2 billion will come from the International Finance Corporation Banking on Women Group for gender equality. Under this, Int...

Demonetisation Effect: SBI Collects Rs 1,14,139 Cr Deposits in Last 7 Days

16Nov By NitishNo Comments

INDIA

Demonetisation Effect: SBI Collects Rs 1,14,139 Cr Deposits in Last 7 Days

State Bank of India today said it collected Rs 1,14,139 crore in deposits in last seven days after the government announced demonetisation of Rs 500 and Rs 1,000 notes. The bank saw 240.90 lakh cash deposit transactions between November 10 and November 16 up to 7 PM, SBI said in a statement here today. The government announced to demonetise Rs 500 and Rs 1,000 notes on November 8. Banks were opened for transactions from November 10 but were closed on November 14 on account of Gurunanak Jayant in major parts of the country. The country's largest lender exchanged Rs 5,776 crore of old Rs 500 and Rs 1,000 notes since November 10. It said there were 151.93 lakh cash withdrawal transactions amounting to Rs 18,665 crore in the last seven days. People are allowed to exchange Rs 4,500 wor...