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Ola And Uber: Boon Or Bane?

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Ola And Uber Turns Boon Or Bane?,Startup Stories,Business Latest News 2017,Cabs Aggregators Boon or Bane,Taxi aggregators Boon Or Bane,Ola Cabs Vs Uber Cabs,Ola And Uber Latest News,Ola Business News 2017

Technology is supposed to make life easier. Food, shopping, travelling and finance can be completed with just a click or with a swipe. Technology progressed rapidly in a very short span in ways that did not seem possible till just a while ago. The last couple of years have seen a drastic rise in technology based startups. These startups have helped mankind in every way possible. Or so it seems. Taxi aggregators such as Ola and Uber came as a relief to all those hassled travellers for whom private transport was not an option and who could not get to their destinations using public transport.

Ola and Uber came at a time when public transport was at its worst. Women were gropped, men were robbed and drivers were harsh. Public transport was out of the question, especially after the 2012 Nirbhaya case. Keeping this in mind, these taxi aggregators helped give riders a veil of safety in these dark circumstances. However, the little respite riders got seemed to disappear almost over night. While there are some good drivers with both Ola and Uber,  there are a few bad apples in the basket.

Pepper spray is a must have for me when I use either Ola or Uber for my travels,” says disgruntled user, Nishita. Safety is not just one of the things riders have a problem with these cab aggregators. Rain is a beautiful thing, but when Ola and Uber use it to boost cab prices, then this very rain is far from beautiful. Ride prices surge, drivers turn ugly and the whole situation turns into a B rated movie of sorts.

When Ola was first launched in India, it had two very strong incentives – the first ride free for new users and first ride free for referrals. This gave Ola a very loyal user base from the minute the app launched. Cut to a few months later, Uber tried it’s hand in the Indian marketplace and currently counts India as it’s second largest market. However, the honeymoon phase is over and reality reared its ugly head. What seemed to be a win win situation, in the beginning, has is now become an ugly menace. Several customers have faced multiple issues when trying to commute using such applications.

The cab aggregators while promising a smooth service, cannot be bothered with when it comes to customer care. The result is usually unhappy customers stranded, extorted and disgusted. “I have given up trying to get in touch with Ola’s Customer Care. They always have an automated answer and at the end of the matter, there is never a solution to the matter,” says Anita, a resident of Hyderabad.

 

Ola and Uber gave travellers everywhere the hope of comfort and travelling without hassles. The world, seen through tinted rose glasses, seems like a beautiful place. However, what happens when these glasses are taken off? Ola and Uber have become a bane rather than a boon and people are tired of being appeased by the nonsense these cab aggregators give in terms of an excuse for their crap service!

An informal survey revealed the obvious. From drivers cancelling rides half way through the ride to creepy advances on the riders, nothing seems to be going in Ola’s or Uber’s favour. It is not just the drivers that have gotten a bad name. Back end service does not work right, the arrival time is always sketchy and drivers are rude, arrogant and abusive. Buck up Ola and Uber, it is time to get your act together and give us the service you promised! We are not the unsophisticated cave dwellers you clearly seem to think we are. Own up. Take responsibility. Drive our lives back into the happy world it used to be in the beginning, because honestly if you keep this up, we will not be the loyal customers we have been so far.

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

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Josh Talks FY24: Reduced Losses and Modest Revenue Growth Signal Positive Momentum!,Startup Stories,Startup Stories India,Inspirational Stories 2024,Latest Technology News and Updates,2024 Technology News,Tech News,Josh Talks FY24,Reduced Losses,Josh Talks FY24 Reduced Losses,Modest Revenue Growth,Financial Results FY24,Growth Strategy,Business Performance,Profitability Improvement,Revenue Trends,Strategic Initiatives,Josh Talks Report,Josh Talks Revenue,Josh Talks FY24 Report

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 Secures SEBI Approval for ₹700 Crore IPO: A Major Step in India's Fintech Landscape!,Startup Stories,Startup Stories India,Inspirational Stories 2024,Latest Technology News and Updates,2024 Technology News,Tech News,MobiKwik Gets SEBI Nod,Mobikwik Secures SEBI Approval,Fintech firm MobiKwik gets Sebi approval,Mobikwik IPO 2024,Mobikwik IPO,SEBI approval IPO 2024,India fintech IPO news,Mobikwik IPO latest updates,Mobikwik IPO details,Fintech companies IPO India,Investment in Mobikwik IPO,SEBI approval for Mobikwik IPO,Mobikwik IPO launch date,IPO Overview,Mobikwik,SEBI,IPO

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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