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Introducing Pepsite to India: The World’s First Mobile Website Builder App

31Jan By NitishNo Comments

News

Introducing Pepsite to India: The World’s First Mobile Website Builder App

Starthosting, a web hosting service provider announces the launch of Pepsite, the world's first mobile website builder app for Indian market. Pepsite is a drag-and-editor, which allows anyone to create a unique and professional website. Worldwide, many thousands of small and medium enterprises already use Pepsite, as what they commonly describe as their best choice to make an appearance on the Internet. Starthosting team has more than 16 years of experience with supporting online presence in over 120 countries around the world, and has an Asian support centre in Bangalore since 2012. Website Creation on-the-go - Start Free Pepsite is the first mobile website editor to create and websites on-the-go - any time, any place and from any device. It offers great professional tem...

India Post Gets Payments Bank Licence to Start Services

28Jan By Press Trust of IndiaNo Comments

News

India Post Gets Payments Bank Licence to Start Services

India Post has received payments bank licence from the Reserve Bank of India to start rollout of banking operations commercially under the permit. "India Post has received payments bank licence. The service will be launched as per schedule," a Department of Posts official said. India Post Payments Bank is the third entity to receive payments bank permit after Bharti Airtel and Paytm. Payments banks can accept deposits up to Rs 1 lakh per account from individuals and small businesses. The new model of banking allows mobile firms, supermarket chains and others to cater to banking requirements of individuals and small businesses. It will be set up as a differentiated bank and will confine its activities to acceptance of demand deposits, remittance services, Internet banking and oth...

Fidelity Marked Down Value of Investment in Flipkart

27Jan By NitishNo Comments

BUSINESS

Fidelity Marked Down Value of Investment in Flipkart

US-based mutual fund Fidelity Rutland Square Trust II has marked down the value of its shareholding in e-commerce firm Flipkart by almost half over a period of one year. In a regulatory filing on January 24, Fidelity reported value of its 52,096 shares in Flipkart at USD 2.7 million (USD 2,715,764), or USD 52.12 per share, as on November 30, 2016. Fidelity, which holds less than a percent in Flipkart, in its earlier filing had reported value of its holding at USD 5,416,421, or USD 103.96 per share, as on November 30, 2015. Flipkart did not comment on the development. At the same time, Fidelity has reported around 13 percent increase in its investment made in online retail major Amazon. Fidelity reported value of its 281,493 shares in Amazon.com at USD 211,280,201 implying value of...

26Jan By PriyankaNo Comments

FUNDING

Online School Aggregator Platform SchoolForSure.com Raises Funding Led by Foodpanda Co-founder Rohit Chadda

New Delhi based online school admissions platform SchoolForSure.com has announced raising an undisclosed amount in angel funding from private investors amongst which is Rohit Chadda, co-founder Foodpanda & founder, PayLo, it said in a statement. SchoolForSure.com which operates a single platform for filling master application form for all schools enables parents to apply to multiple schools in a single click without having to visit each school. The young startup will use the proceeds to expand its team and increase its reach to more geographies. The platform was launched late last year and is presently operational in Delhi and allows nursery admissions to over 100 schools, the firm said in a statement. Rishi Shukla, co-founder & CEO of SchoolForSure.com said, “We are trying ...

25Jan By AdityaNo Comments

ACQUISITION

BookMyShow Acquires Hyderabad Based MastiTickets

BookMyShow has acquired Hyderabad-based online ticketing platform, MastiTickets, for an undisclosed sum, a move aimed at consolidating its presence in Andhra Pradesh and Telangana. The acquisition will include transfer of MastiTickets' key assets along with existing cinema partnerships to BookMyShow, BookMyShow CEO and co-founder Ashish Hemrajani told Pixr8. He, however, declined to comment on the deal size. Founded in 2014 by Ravi Narla, MastiTickets has a strong presence in Andhra Pradesh and Telangana and currently works with over 120 cinemas. "The acquisition will help us further consolidate our position and strengthen our footprint. We work with 530 cinemas in these two States and have added 175 of these in the last 12 months alone," he said. MastiTickets has a very small...

Moneyfront – An Online Platform That Helps You To Invest in Mutual Funds Without Any Middleman

25Jan By NitishNo Comments

Story

Moneyfront – An Online Platform That Helps You To Invest in Mutual Funds Without Any Middleman

In 2013, SEBI introduced a new concept of investing in Mutual funds. Aptly named as ‘Direct plans’ it offers an alternative to investment in mutual funds where investors can skip the middlemen and invest directly with the fund house. An investor friendly option, Direct plans enable the investor to earn up to 1.5% more returns on their investments, because the distributor commissions are not deducted from the invested values. However, despite its benefits the awareness regarding Direct plans of mutual funds is really low. Few who are aware perceive it to be a time consuming and complicated task. “One of the advantages of Direct Plans is that these come with a lower expense ratio.” The Solution MoneyFront is a key to the act of investing in MFs through direct plans. Being new in the ma...

Amazon Told to Respect Indian Sensitivities: MEA

19Jan By Press Trust of IndiaNo Comments

News

Amazon Told to Respect Indian Sensitivities: MEA

After the Indian flag incident, e-commerce retailer Amazon has been conveyed that while providing a platform for third party vendors, they should respect Indian sensitivities and sentiments, the External Affairs Ministry said today. MEA Spokesperson Vikas Swarup also said Amazon has also removed "offending items" like flip-flops and dog tags with Mahatma Gandhi's image. "Our Ambassador in Washington had been instructed to convey to Amazon that while providing a platform for third party vendors, they should respect Indian sensitivities and sentiments. We have been in touch with Amazon both in Washington as well as in Delhi and we have had constructive conversations," he said. Asked about sale of flip-flops and dog tags with Mahatma Gandhi's image on Amazon website, he added, "I am ...

19Jan By NitishNo Comments

BUSINESS

Droom Expects Rs 75 Cr Revenue in FY’17

Droom, an online marketplace for automobiles, expects to close this fiscal with a revenue of Rs 75 crore on the back of strong sales on its platform for both new and used cars. Droom is expected to touch net annual revenues of Rs 60-75 crore by March 2017 with an annualised GMV in the range of INR 2,500-3,000 crore, Droom said in a statement. Droom is eyeing net annual revenues of Rs 125-150 crore by December 2017, it added. "The company is targeting annualised GMV of INR 4,500-5,000 crore and net annual revenues of Rs 125-150 crore by December 2017, as it ramps up its operations to firmly consolidate its position as the best brand in the Indian online automobile market space," it said. It added that orders placed through the platform grew from 8,232 units in 2015 to 49,974 uni...

As its Boss Moves to Tata HQ, Investors Fret Over TCS Future

16Jan By reutersNo Comments

News

As its Boss Moves to Tata HQ, Investors Fret Over TCS Future

Moving the head of Tata Consultancy Services to the top job at Tata Sons' holding company fills a critical hole for the salt-to-software conglomerate, but it leaves another at its most valuable company ahead of a complex and unpredictable 2017. The promotion of Tata veteran Natarajan Chandrasekaran - the well-regarded, high-performing boss of TCS under whom shares have quadrupled - should be no surprise. But the departure of Chandrasekaran, known as Chandra, from the Tata group's most profitable arm still rattled investors. They sent TCS shares down more than 4 percent on Friday, a day after it also posted better-than-expected quarterly results. "The IT industry is facing headwinds, and shareholders would have preferred Chandra to stay as CEO for some more time," said Souvik Guha, an...

Times Internet Looks to Join USD 1 Billion Club in next 5 years

8Jan By Press Trust of IndiaNo Comments

News

Times Internet Looks to Join USD 1 Billion Club in next 5 years

Times Internet, the digital product company owned by media conglomerate BCCL, is looking to be a billion dollar firm in the next five years, riding on the back of greater reach and high growth of internet penetration. As part of the strategy, Times Internet will adopt an "aggressive" approach and pursue organic as well as inorganic growth and try to enhance and monetize its reach. "Times Internet would cross Rs 1,000 crore in terms of net revenue during this fiscal and is aiming to become a billion dollar company (revenues) by 2021," Times Internet CEO Gautam Sinha told Pixr8. "Times Internet has a current compounded annual growth rate (CAGR) of 46 per cent and expects to increase it to 51 per cent, going forward." Times Internet, according to him, has evolved itself as the biggest...

After Raising 25 Crore, Bengaluru Based Eatfresh Shuts Down its Food Delivery Operation

6Jan By NitishNo Comments

News

After Raising 25 Crore, Bengaluru Based Eatfresh Shuts Down its Food Delivery Operation

Bengaluru-based EatFresh, a food-tech startup operated by Chennai-based Ubiquitous Foods Pvt Ltd that also runs the bakery chain Ovenfresh, has shut down its retail food delivery services. The company had altogether raised Rs 25 crore from kalaari capital. The online food venture was launched in August 2015 by Rajiv Subramanian, an IIM-Ahmedabad alumnus and former investment banker with Lehman Brothers, operated a full-stack model and offered Indian and international cuisine in a daily rotating menu at nearly 20 locations in Bengaluru. It used to prepare food at a commissary kitchen and then send the products to 10 distribution hubs. Ovenfresh, a retail bakery chain founded eight years ago caters to 10,000 customers a day across 50 locations in Chennai and Bangalore, according to Su...

Mobikwik Looking to Hire 1000 People From Ahmedabad, Lucknow & Others Cities

6Jan By AnkitaNo Comments

News

Mobikwik Looking to Hire 1000 People From Ahmedabad, Lucknow & Others Cities

Digital payments firm MobiKwik said it will invest over Rs 50 crore and hire 1,000 people during this quarter as it looks to expand its footprint across cities like Ahmedabad, Lucknow and Vijayawada among others. Aimed at enabling 150 million users in India to transact on its platform by early 2018, MobiKwik is setting up offices in 13 cities by the end of the first quarter of 2017. "We will be investing over Rs 50 crore in setting up new offices to cater to regional requirements and will be hiring over 1,000 employees, pan India, across technical and non-technical requirements," MobiKwik co-founder Upasana Taku said in a statement. These cities include Mumbai, Pune, Bangalore, Kolkata, Hyderabad, Chennai, Ahmedabad, Noida, Lucknow, Vijayawada, Kochi, Jaipur and Chandigarh. "Po...