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Apple Eyes Local Partnerships To Launch Payments Service

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Apple Eyes Local Partnerships To Launch Payments Service,Startup Stories,Business Latest News 2017,Apple Launch Payments Service in India,Apple New Payments Service,Latest Technology News and Updates,Apple Pay service in India Soon,Apple Pay Launch in India Entry Soon,Apple Payment Service Release Date

Technology giant Apple Inc., may launch their very own payments service in India soon to boost their presence in the country. The company, which already has a manufacturing facility in Bengaluru, is reportedly eyeing a piece of India’s rapidly booming digital payments business.

Speaking at an event in Hyderabad, Apple Senior Vice President, Eddy Cue said, “Apple Pay is something that we definitely want in India. The challenge with payment mechanisms is that there isn’t really a lot of global scales. You deal with individual markets at a time… but India is one of those markets where we hope to bring Apple Pay.”

The Apple Pay service will not be built specifically for the country but will be integrated with established players like Paytm. Speaking about the payment service, Cue added, “ You have some great payment mechanisms today and we will leverage all of that in doing this. That’s one of the advantages that we have with Apple Pay. Apple Pay is not trying to come up with a brand new payment vehicle, so the fact that people like Paytm are doing well here is great. We just need to integrate with the popular ones and make the service available.” Apple Pay, according to Cue, will integrate multiple payment options to make the entire online payments process easy and safe.

The Senior Vice President, for Internet Software and Services, Eddy Cue has been on a whirlwind tour of India and has also hosted a bunch of Bollywood stars during his visit. He also announced two new Mac Labs which will be launched in Chennai and Mumbai to help identify and unearth talented musicians in the country. Apple will also be working with AR Rahman on KM Music conservatory with kids. Eddy Cue also added, Apple, which has been criticized for the late launch of their devices in India, would now work to build new unique products or enhance existing products in the country itself.

Apple first announced their proposal to start a manufacturing operation in Bengaluru in February this year. Since then, they have already started the initial production process of the iPhone SE model which is also expected to be shipped soon to the local customers.

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Josh Talks FY24: Reduced Losses and Modest Revenue Growth Signal Positive Momentum!

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Startup Stories

Josh Talks, a prominent platform dedicated to empowering individuals through inspirational narratives and skill development, has released its financial results for the fiscal year 2024 (FY24). The company has demonstrated notable progress in reducing its losses while achieving modest revenue growth.

Financial Performance

In FY24, Josh Talks reported a loss of INR 9.8 crore, which is a 25% decrease from the previous fiscal year. This improvement signals a positive trend in the company’s financial health as it continues to optimize its operations and business model. On the revenue front, Josh Talks generated INR 19 crore, reflecting a 2% increase compared to FY23.

Strategic Initiatives

The management attributes this improved financial performance to strategic adjustments in its operational approach. By enhancing user engagement and diversifying content offerings, Josh Talks aims to create a more sustainable business model. The platform has actively worked on expanding its revenue streams, contributing to the slight uptick in revenue.

Competitive Landscape

Operating in a competitive environment, Josh Talks faces challenges from various digital content and educational platforms. The company’s commitment to delivering quality content that resonates with its audience has helped maintain its relevance. As part of its growth strategy, Josh Talks is exploring partnerships and collaborations to further enhance its reach and impact.

Future Prospects

Looking ahead, Josh Talks remains optimistic about its growth trajectory. The management is focused on leveraging technology and data analytics to better understand user preferences and tailor content accordingly. This approach aims not only to boost revenue but also to enhance overall user satisfaction.

Conclusion

In summary, Josh Talks’ FY24 results reflect a cautiously optimistic outlook as the company navigates the evolving digital content landscape while striving for profitability and growth. With ongoing efforts to improve operational efficiency and expand its offerings, Josh Talks is well-positioned to continue making a significant impact in personal development and education.

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Mobikwik Secures SEBI Approval for ₹700 Crore IPO: A Major Step in India’s Fintech Landscape!

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Mobikwik, a leading digital payment platform in India, has recently received approval from the Securities and Exchange Board of India (SEBI) to launch its initial public offering (IPO), targeting a substantial ₹700 crore. This marks a pivotal moment for the Gurugram-based fintech company, which has been navigating the complexities of the IPO process since its initial attempt in July 2021.

IPO Overview

The upcoming IPO will consist entirely of a fresh issue of equity shares, with no component for an offer for sale (OFS). According to the Draft Red Herring Prospectus (DRHP), the shares will have a face value of ₹2 each. The allocation strategy for the shares is designed to cater to various investor categories: 75% will be reserved for qualified institutional buyers, 15% for non-institutional investors, and the remaining 10% for retail individual investors. This structure aims to ensure broad participation in the offering.

Fund Utilization Plans

Mobikwik has outlined specific plans for how it intends to utilize the funds raised through this IPO:

  • ₹250 crore will be directed towards expanding its financial services business.
  • ₹135 crore is earmarked for enhancing its payment services.
  • Additional investments will support growth initiatives in data and artificial intelligence.
  • Over ₹70 crore will be allocated for capital expenditures.

These allocations reflect Mobikwik’s strategic focus on strengthening its market position and enhancing its service offerings within the competitive fintech landscape.

Market Context and Timing

The approval from SEBI comes at a time when there is growing investor interest in technology and fintech sectors in India. Mobikwik’s strategic emphasis on digital payments and financial services places it favorably within this rapidly evolving market. The company had previously filed its DRHP with SEBI but withdrew it due to challenging market conditions before refiling in January 2024.

Industry experts speculate that Mobikwik may launch its IPO before Diwali, which falls on November 4 this year, taking advantage of favorable market conditions. The book-running lead managers for this IPO are SBI Capital Markets Limited and DAM Capital Advisors Limited, while Link Intime India Private Limited will serve as the registrar.

Competitive Landscape

Founded in 2009 by Bipin Preet Singh and Upasana Taku, Mobikwik initially started as a digital wallet but has since evolved into a comprehensive fintech platform offering services such as credit, insurance, and gold loans. The company has garnered significant backing from prominent investors including Sequoia Capital India, Bajaj Finance, American Express, Cisco Systems, and Abu Dhabi Investment Authority.

Mobikwik faces competition from other fintech giants like Paytm, which is also preparing for an IPO. Paytm’s parent company, One97 Communications, has filed its own DRHP aiming to raise ₹16,600 crore through a combination of fresh issues and an OFS.

Future Outlook

While specific details regarding the price band and lot size of Mobikwik’s IPO remain to be finalized, the approval from SEBI is a crucial milestone in the company’s journey toward becoming a publicly traded entity. With a last reported valuation of approximately $700 million following a funding round earlier this year, Mobikwik is eyeing a valuation that could exceed $1 billion upon its public listing.

This IPO represents not only an opportunity for Mobikwik to enhance its market presence but also reflects broader trends within India’s burgeoning digital economy as consumer preferences increasingly shift towards online transactions and financial services. As Mobikwik prepares for this significant transition, it aims to solidify its position as a key player in India’s fintech ecosystem.

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Unmissable Savings: The Amazon Great Indian Festival and Flipkart Big Billion Days 2024!

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Startup Stories | Great India Festival Sale | Amazon | Flipkart

The Amazon Great Indian Festival and Flipkart Big Billion Days are two of the most awaited shopping events in India, set to commence on September 27, 2024. These sales represent a unique opportunity for consumers to benefit from substantial discounts and exclusive deals across a wide range of product categories, making them pivotal events in the Indian e-commerce landscape.

Amazon Great Indian Festival 2024

Event Overview

The Amazon Great Indian Festival is recognized as India’s largest festive shopping event. This year, it will launch on September 27, with Prime members receiving early access starting September 26. The festival is expected to showcase over 25,000 new products and offer significant savings on categories such as electronics, fashion, home appliances, and groceries.

Key Features and Offers

  • Discounts: Shoppers can expect mobile phones starting at ₹5,999, electronics from ₹199, and headphones from ₹699. Discounts of up to 70% will be available across various items.
  • Payment Benefits: Customers using SBI debit and credit cards can avail themselves of a 10% instant discount. Additionally, Prime members can earn 5% cashback on purchases made with the Amazon Pay ICICI Bank credit card.
  • Diverse Shopping Experience: The event will support multiple languages including Hindi, Tamil, and Telugu, ensuring accessibility for a broad audience.
  • Seller Participation: Over 16 lakh sellers will participate in this year’s festival, many of whom will offer exclusive deals to promote small businesses during the festive season.

Promotional Strategies

Amazon aims to enhance customer experience through fast delivery services and an extensive selection of products. The company anticipates robust growth from tier-2 and tier-3 cities as consumer demand continues to rise in these areas.

Flipkart Big Billion Days 2024

Event Overview

Concurrent with Amazon’s festival, Flipkart will host its Big Billion Days sale starting on September 27. Known for its competitive pricing, this event will feature an extensive range of products available at discounted rates.

Key Features and Offers

  • Electronics Discounts: Flipkart is expected to offer notable price cuts on popular smartphones such as the iPhone 15 series and Samsung Galaxy models.
  • Additional Savings: Similar to Amazon, Flipkart will likely provide bank offers that enhance overall value for customers during this shopping frenzy.
  • Exclusive Products: Both platforms are anticipated to feature exclusive launches and limited-time offers catering to diverse customer needs.

Conclusion

As both Amazon and Flipkart prepare for their respective sales events, consumers have much to look forward to in terms of exciting shopping experiences filled with incredible deals. With overlapping dates and competitive offers from both platforms, shoppers are encouraged to explore each site thoroughly to maximize their savings during this festive season.

The Great Indian Festival and Big Billion Days not only highlight the growing e-commerce landscape in India but also reflect changing consumer behaviors as more people engage in online shopping during festive periods. With significant participation from sellers across the country, these events are poised to deliver a festive spirit that resonates with millions of households across India.

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