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Sourav Ganguly and others invest Rs 3 crore in Flickstree

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cricketer Sourav Ganguly,Sourav Ganguly invest in Flickstree,Flickstree founders,Sourav Ganguly Success Story,flickstree funding,startup Flickstree,Latest Business News 2017,Startup Stories,Inspirational Stories

Former cricketer Sourav Ganguly along with Venture Catalysts and others have invested Rs. 3 crores in a Mumbai based video content discovery platform, Flickstree. These funds will be used to build product features and enable users to create their own personal video magazines based on certain interests ranging from technology to sports.

This seed round of funding, which marked the first startup investment by the cricketer also saw participation from Kolkata based Aditya Group’s Anirban Aditya and Ankit Aditya and Moksh Sports Ventures. Ganguly, who will be promoting the company along with being a key stakeholder said investing in startups is something new and hopefully few years down the line they will see success in this venture.

Flickstree founded by Saurabh Singh, Rahul Jain and Nagender Sangra in 2014 curates videos for the end users from across sites including YouTube, Vimeo, Facebook among others, based on the end user’s online preferences. The platform, officially launched in August 2016, compiles and personalizes online videos from social networks, media sites and blogs and then creates a custom user video feed.

At present, the platform has over 20 categories and uses a proprietary self learning engine to understand user context, predict user behavior and suggest content. Saurabh Singh speaking about the startup said Flickstree tries to organize video content from the free web for users as it is difficult for users to discover videos across multiple platforms.

Flickstree initially began as a movie recommendation engine and switched to a personalized digital video curation platform earlier in 2017. It now focuses on compiling and categorizing free to watch online videos from across social networks, media sites and blogs.

In recent times several cricketers have begun investing in startups all over India. Sachin Tendulkar has invested in IoT startup Smartron, while Yuvraj Singh has his own venture fund YouWeCan that has invested in multiple startups. Former Captain M.S. Dhoni and present Captain Virat Kohli, also have invested in fitness startups.

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Quick Commerce Set to Boost HUL’s Revenue

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Unilever’s CEO, Fernando Fernandez, is optimistic about quick commerce’s growth in India, predicting it will significantly boost Hindustan Unilever Ltd’s (HUL) revenue. Currently, quick commerce accounts for about 2% of HUL’s revenue, but Fernandez expects this to rise to 10-15% within the next three to four years.

Why Quick Commerce?

India’s unique demographic, with affluent and economically active households living in close proximity, makes quick commerce a logical and profitable channel. The margin mix in quick commerce is also favorable for improving profitability12.

Market Trends

Quick commerce is rapidly expanding in India, with its contribution to ecommerce sales doubling annually. Major players like Blinkit, Swiggy Instamart, and Zepto are driving this growth, driven by consumer preference for convenience over discounts13.

Future Outlook

Fernandez’s strategy aligns with Unilever’s goal to transform its business and meet evolving consumer preferences. Leveraging quick commerce will be key to enhancing HUL’s revenue in India, a crucial market for Unilever

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Social Media Platform X Faces Global Outage

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Social Media Platform X Faces Global Outage

Elon Musk’s social media platform X, formerly known as Twitter, experienced a significant global outage on Monday. The disruption began around 3:20 PM IST, with over 19,000 reports of issues globally, according to Downdetector.

Impact by Region

  • United States: Over 21,000 users reported issues, primarily with the app.
  • United Kingdom: More than 10,800 incidents were recorded.
  • India: Nearly 2,300 users faced difficulties, though some reports suggest around 1,000 complaints, mainly with the search bar.

Nature of the Outage

The outage affected both web and mobile app versions, preventing users from accessing timelines or posting content. The cause remains unclear, as X has not issued an official statement.

Resolution

Services resumed after about 30-40 minutes, but concerns about the platform’s reliability have increased due to its recent technical issues

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Acevector Limited Announces New CEOs for Snapdeal and Stellaro Brands

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Acevector

Acevector Limited, the parent company of Snapdeal and Stellaro Brands, has announced significant leadership changes within its organization. Achint Setia has been appointed as the new CEO of Snapdeal, while Himanshu Chakrawarti will transition to the role of CEO of Stellaro Brands.

Himanshu Chakrawarti to Lead Stellaro Brands

Himanshu Chakrawarti has successfully led both Snapdeal and Stellaro Brands for the past three years. In his new role, he will focus exclusively on driving growth at Stellaro Brands, which houses various apparel brands, including Rangita. Chakrawarti brings over 30 years of experience in the retail industry, having held leadership positions at notable companies such as Trent, Arvind, and the Landmark Group. His extensive background in brand building and retail operations will be instrumental in scaling Stellaro’s growth.

Strategic Focus

Chakrawarti’s shift to Stellaro Brands allows him to leverage his experience to enhance the brand’s market presence and operational efficiency. His leadership is expected to drive innovative strategies that align with consumer trends and preferences.

Achint Setia to Head Snapdeal

Achint Setia takes over as CEO of Snapdeal, bringing a wealth of experience in e-commerce, media, telecom, and government services. He has a proven track record in business building, marketing, strategy, and technology. Prior to joining Snapdeal, Setia served as the Chief Revenue and Marketing Officer at Zalora Group in Singapore. He has also held senior leadership roles at Myntra, Viacom18, McKinsey & Co., and Microsoft.

Background and Expertise

Setia holds an MBA in Strategy & Finance from the Indian School of Business and completed the Stanford GSB LEAD program in Corporate Innovation. His diverse experience positions him well to lead Snapdeal through its next phase of growth as it navigates a competitive e-commerce landscape.

Focus on Growth and Innovation

These leadership changes are strategically aimed at driving growth and innovation across both Snapdeal and Stellaro Brands. With experienced leaders at the helm of each business, Acevector Limited is well-positioned for continued success in the dynamic Indian market.

Market Positioning

The transition comes at a critical time for Snapdeal as it seeks to strengthen its market position amid rising competition from other e-commerce platforms. Setia’s expertise in digital ecosystems is expected to enhance Snapdeal’s offerings and customer engagement strategies.

Recent Developments at Acevector Limited

Acevector Limited has been actively involved in restructuring its operations to optimize performance across its portfolio. The company has previously made headlines with initiatives such as:

  • The formalization of a group structure encompassing Snapdeal, Unicommerce, and Stellaro Brands.
  • Strategic investments aimed at enhancing technology capabilities and expanding service offerings.

Conclusion

The appointment of Achint Setia as CEO of Snapdeal and Himanshu Chakrawarti as CEO of Stellaro Brands marks a pivotal moment for Acevector Limited. These strategic leadership changes are designed to leverage their extensive industry experience to foster innovation and drive growth across both brands. As they embark on their new roles, the focus will be on enhancing operational efficiencies and adapting to evolving market demands within India’s competitive e-commerce sector.

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