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25May By Lavina TolaniNo Comments

MIDDLE EAST

How Middle East Is Performing as a Digital Economy

Digital Technology and Internet of Things are deeply transforming businesses and governments in the Middle East and North Africa. Even the World Bank believes that Investment into digital transformation in the major Cities of the Middle East and North Africa region(MENA) can unlock huge potential for the service economy to drive growth and job creation across the region, as announced in its report that came in April 2018. There are a lot of factors that act in the favour of MENA making it particularly well-positioned to take advantage of digital opportunities. A young and tech-savvy population, advanced information and communication technologies, or ICT, infrastructure are some of the key ingredients that act as strong benchmarks for MENA countries such as such as Egypt, Saudi Arabia, a...

Walmart Planning to Launch Flipkart’s IPO in Next 4 years

13May By AnkitaNo Comments

News

Walmart Planning to Launch Flipkart’s IPO in Next 4 years

US retail giant Walmart Inc mentioned in its report to US security exchange that they may come up with an initial public offer (IPO) of Flipkart as early as four years. Walmart in its report said IPO will be at "a valuation no less than that paid by Walmart under the share issuance agreement, subject to the satisfaction of certain other conditions regarding such offering (the IPO)". Which means Walmart can issue the shares of Flipkart at the valuation of $16 billion that it paid to other investors of Flipkart to acquire the 77% shares of Flipkart. Also, the report added, "Shareholders agreement would expire upon the consummation of the IPO, whether initiated by the board or the minority stockholders". "Pursuant to a Registration Rights Agreement to be entered into concurrently wi...

Myntra Acquires Bengaluru Based Smart Wearables Startup

16Apr By AnkitaNo Comments

ACQUISITION

Myntra Acquires Bengaluru Based Smart Wearables Startup

India's leading online fashion platform Myntra has acquired Bengaluru based Witworks. Witworks is a technology startup making smart wearable devices and their underlying software. Witworks team will join Mytnra R&D department after the acquisition to further strengthening the company's robust technology team and augment its product development capabilities. The acquisition will help Myntra to develop wearable products for their in-house brands as well as leverage the technology to drive innovation and enhance consumer engagement in the future. Jeyandran Venugopal, Chief Technology Officer, Myntra, said, "Wearables is currently a 300 crore industry in India and is growing rapidly, with online contributing 60 percent to the total business. This acquisition will help us to solidi...

13Apr By AdityaNo Comments

FUNDING

Digital Marketing Company Raises $20 Million Series B Funding

US based Digital marketing firm Punchh has raised USD 20 million funding in a Series B round led by Sapphire Ventures. Cervin Ventures also participated in this round bringing the total funding close to USD 31 million till date. Company's R&D and development center are based out of Jaipur, India. With the fresh funding round, the team will expand its Punchhs solutions to new industries like health and beauty, convenience stores, and gas stations as well as to roll out predictive marketing capabilities using artificial intelligence and machine learning, it added. Headquartered in Mountain View, CA, Punchh is the world leader in innovative digital marketing products for brick and mortar retailers, combining AI and machine learning technologies, mobile-first expertise, and Omni-C...

5 Best Online Tools for Startups and SME’S To Increase Productivity

2Apr By Lavina TolaniNo Comments

Story

5 Best Online Tools for Startups and SME’S To Increase Productivity

In our fast-paced changing lives surrounded by technology "all-around", competition to excel is enormous. A strong online presence today is not only a "norm" rather a "necessity". Any budding startup or small or medium-sized enterprise (SME) today requires a strong online presence not only for marketing or expanding its customer base but also to embark on a journey that could bring in brand value and recognition. Launching a startup is surely a demanding task! Yet, starting is not as difficult as most people make it appear so. There could be absolutely no better time starting a company owing to the modern fast-paced lives we are living today. The competition today is "massive", but so are the resources! While the Internet does not provide any space for procrastination, it does offer ...

ShopClues Revenues Grow 60%, Losses Down to 40%

26Mar By NitishNo Comments

ANALYSIS

ShopClues Revenues Grow 60%, Losses Down to 40%

India based online e-commerce platform ShopClues revenues grow 60 percent this fiscal, while losses have been trimmed by almost 40 percent compared to the previous year as per the press release published by the company. The Gurgaon-based company focusses on categories like fashion and strengthening position in tier III cities and beyond to push the growth. Shopclues will see the competition in this segment from the leading players like Flipkart and Amazon. Both leading online e-commerce players are also confident of hitting profits in the next 12-18 months. The CEO of Shopclues Sanjay Sethi said, "2017 was spent ensuring that the company has the right revenue margins" without any discounting or heavy spending on warehousing adding to its costs. 2018 will be about continuing the growth....

20Mar By PriyankaNo Comments

FUNDING

Bewakoof.com Raises Fresh 5.55 Crore Funding From Snapdeal Founders

Mumbai based fashion and lifestyle platform Bewakoof.com have raised fresh funding of ₹5.55 Cr from existing investors including Kunal Bahl, Rohit Bansal, Nikhil Vora (Founder, Sixth Sense Ventures), and Uniqorn Ventures in what appears to be a seed round. Earlier in 2015, the Snapdeal founders also invested an unknown seed amount in bewakoof.com. The Snapdeal founders combined have invested ₹4 Crore out of the ₹5.55 Crore raise. Including this round, Bewakoof has so far raised ₹15.6 Crore from investors including O3 Capital. The company Bewakoof Brands Private Limited allotted 1,678 Series Seed III preference shares of ₹15/- at a premium of ₹33,069.0046/- each on March 8, 2018. Founded by Prabhkiran Singh and Siddarth Munot in 2010, the website sells trendy and casual apparels a...

20Mar By NitishNo Comments

FUNDING

Nowfloats Raises 14 Crore Additional Funding From Existing Investors

Hyderabad based Nowfloats which helps small businesses to build an online presence has raised ?14.36 Cr funding. The funding round appears to be a bridge round from existing investors, Omidyar Network, Iron Pillar Capital & others. As per the regulatory filing, Nowfloats had also secured 10 crore loan from Blacksoil Capital and its received the first part of the amount, which is 5 crores. The funding will use to run the current operation. The funding is based on debt funding, where Nowfloats Technologies Private Limited allotted 14,35,594 debentures at ?100/- each on March 7, 2018. Founded by Neeraj Sabharwal, Nitin Jain, Ronak Samantray, and Jasminder Gulati, NowFloats has so far raised ?83.8 Cr from investors including Omidyar Network, IIFL, Faktory Ventures, Blume Venture...

19Mar By AdityaNo Comments

FUNDING

CustomerSuccessBox raises $1 Million Pre-Series A funding

Bengaluru, March 19, 2018 – B2B Saas Platform CustomerSuccessBox has raised $1mn in pre-Series A funding led by pi Ventures with participation from Axilor Ventures. The funding will use for growth hacking and product improvement as per the information mentioned in the press release. CustomerSuccessBox is a customer success platform which helps B2B SaaS companies to grow their recurring revenue. It applies Artificial Intelligence (AI) and Machine Learning (ML) to automate customer onboarding, product usage analysis, and user communication. Thus enabling success managers to deliver a superior customer onboarding experience, retain customers, drive, upsell and improve Monthly Recurring Revenue (MRR) and Lifetime Value (LTV) for SaaS businesses. Founded in 2016 by Puneet Kataria (CEO) an...

Grofers Raises 400 Crore from Softbank & Others

16Mar By NitishNo Comments

FUNDING

Grofers Raises 400 Crore from Softbank & Others

Gurgaon based online hyperlocal market startup Grofers raises 400 crore funding from Japanese conglomerate SoftBank Group, Tiger Global, and Apoletto Asia. The Grofers has raised so far $226.5 million funding. However the early investor in Grofers, Sequoia Capital will not participate in this round. Pixr8 news was the first platform which discloses about this deal earlier. Using Series E round funding, the company will continue to invest in building private labels and supply chain improvements. A significant amount of investment will go towards building infrastructure and technology and efficient supply chain management to achieve deeper penetration in existing Grofers cities. "This fresh round by our existing investors is a vote of confidence and trust in the turnaround at ...

Singer Rihanna Slammed Messaging app Snapchat

16Mar By AdityaNo Comments

USA

Singer Rihanna Slammed Messaging app Snapchat

American leading Singer Rihanna slammed Snapchat, a messaging app over an advertisement that promotes domestic violence and showed her assault by her former boyfriend Chris Brown in 2009 in an advertisement to promote the company. The Snapchat advertisement, made for the promotion of the mobile game Would You Rather? asked users which of the artists they would prefer to hit. The 30-year-old singer took to Instagram and posted a lengthy comment, saying she was "trying to figure out what the point was with this mess". Rihanna responding to Snapchat's ad. I can't believe they did this. pic.twitter.com/TpHQIXTm4j — Gennette Cordova (@GNCordova) March 15, 2018 The full text is - "Now Snapchat, I know you already know you ain't my favourite app out there! But I'm just trying t...

These 5 Startups Can Help You to File Your Income Tax

16Mar By NitishNo Comments

Story

These 5 Startups Can Help You to File Your Income Tax

In the previous article, we mentioned the steps about how to file the income tax online. If you are still not sure that you can make this process done by itself, don't worry, we came up with the article on 5 online startups, which can help you to file your income tax without any hassle! Have a look, ClearTax: ClearTax is a India based online platform which helps individuals prepare and e-file their Income Tax Return online. All one has to do is log on to ClearTax and upload their Form 16. The platform will prepare the income tax return automatically. The whole process does not take more than 10 minutes. Founded by Archit Gupta in 2011, Cleartax receives $15.4 million funding till date. UrbanClap: UrbanClap is the largest on-demand service marketplace in India. It ensures quality pro...