Connect with us

Latest News

Sourav Ganguly and others invest Rs 3 crore in Flickstree

Published

on

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.

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Latest News

Apple Ordered to Pay €13 Billion in Back Taxes to Ireland by EU’s Top Court!

Published

on

In a significant ruling, the European Court of Justice (ECJ) has ordered Apple to repay €13 billion ($14 billion) in back taxes to Ireland, affirming a 2016 European Commission decision that Apple received illegal state aid from the Irish government. This ruling concludes a lengthy legal battle that began in 2014 when the Commission initiated an investigation into Apple’s tax practices in Ireland, where the company has its European headquarters.

Background of the Case

The European Commission’s investigation revealed that Apple benefited from two tax rulings in 1991 and 2007, which allowed the company to significantly reduce its effective tax rate in Ireland—from 1% in 2003 to just 0.005% in 2014. The Commission determined that these arrangements constituted unlawful state aid, prompting it to instruct Ireland to recover the unpaid taxes from Apple.

Legal Proceedings

Initially, in 2020, the EU General Court sided with Apple, overturning the Commission’s ruling by stating that it had not adequately proven that Apple received a selective tax advantage. However, the Commission appealed this decision, leading to the recent ECJ ruling that reinstated the original order for Apple to repay the taxes.

Apple’s Response

In response to the ruling, Apple expressed disappointment, asserting that it has always paid the taxes owed in accordance with international law and that the income in question had already been taxed in the U.S. The company maintained that the case was not about the amount of tax owed but rather about which government had the right to collect it. Apple emphasized its role as a significant taxpayer and contributor to economic growth in Europe.

Implications for Ireland and the EU

This ruling is seen as a setback for Ireland, which has positioned itself as a favorable location for multinational corporations due to its low corporate tax rates. The Irish government has contested the need for Apple to repay these taxes, arguing that such arrangements are essential for attracting foreign investment. The ECJ’s decision, however, reinforces the European Commission’s efforts to eliminate preferential tax deals that give certain companies an unfair advantage over others in the EU market.

Conclusion

The ECJ’s ruling not only marks a pivotal moment in Apple’s tax saga but also serves as a critical victory for the European Commission in its ongoing campaign against tax avoidance by multinational corporations. As the legal landscape continues to evolve, this case underscores the tensions between U.S. tech giants and European regulatory frameworks regarding taxation and competition.

Continue Reading

Latest News

Swiggy Instamart Celebrates Ganesh Chaturthi with Free Modak Dispenser in Mumbai

Published

on

As Mumbai geared up for the grand celebration of Ganesh Chaturthi, Swiggy Instamart installed a unique modak dispenser on Carter Road to mark the auspicious occasion. The dispenser, operational on September 6th and 7th, offered 1,000 free modaks daily to passersby, dispensing approximately 142 modaks per hour.

The modak dispenser, designed to attract attention, featured an audio sensor that was triggered when a bell was rung. Within five seconds of activation, the dispenser released a single hygienically packed modak in a box. Each box contained a QR code that directed users to Swiggy Instamart’s dedicated Ganesh Chaturthi section on their platform.

Swiggy Instamart’s Ganesh Chaturthi Section

The Ganesh Chaturthi section on Swiggy Instamart offered a wide range of pooja essentials, modak-making kits, assorted modak flavors, and eco-friendly Ganesha idols. Customers could access these items through Swiggy Instamart’s quick delivery service, with items being delivered within 10 minutes.

Collaboration and Social Media Impact

The initiative, a collaboration between Swiggy, Havas Media, and Havas Media Tribes, gained significant attention on social media. The dispenser featured the Marathi phrase ‘Ghanti Vajwa, Mithai Milwa’ (ring the bell, get the sweet), adding a touch of traditional charm to the modern technology.

Swiggy Instamart’s modak dispenser not only celebrated the cultural significance of Ganesh Chaturthi but also served as a strategic promotion for their festive offerings. The initiative exemplified how brands can effectively connect with local traditions and enhance customer experience through innovative approaches.

Continue Reading

Latest News

iPhone 16 Series Price Comparison: Where Should You Buy the New iPhone – India, US, UK, Dubai, or Vietnam?

Published

on

StartupStories

Apple’s recent ‘It’s Glowtime’ event introduced the highly anticipated iPhone 16 series, which includes the iPhone 16, iPhone 16 Plus, iPhone 16 Pro, and iPhone 16 Pro Max. Notably, despite the introduction of a more powerful processor and several cosmetic enhancements, the pricing for the new models has remained consistent with last year’s iPhone 15 lineup.

In India, the iPhone 16 starts at ₹79,900, while the iPhone 16 Plus is priced at ₹89,900. The premium models, iPhone 16 Pro and iPhone 16 Pro Max, have seen a significant price reduction, launching at ₹1,19,900 and ₹1,44,900, respectively. This marks a ₹15,000 decrease from the previous year’s models, making them more accessible to consumers.

For international buyers, the pricing structure varies significantly. The iPhone 16 is available in the United States starting at $799 (approximately ₹67,100), while the iPhone 16 Pro starts at $999 (around ₹83,896). In the UAE, the iPhone 16 is priced at AED 3,399 (approximately ₹78,000), and the iPhone 16 Pro at AED 4,299 (approximately ₹98,000).

This price comparison raises an important question for consumers: Is it more economical to purchase the iPhone 16 series in India or abroad? While the standard models (iPhone 16 and 16 Plus) are competitively priced in India, the premium models exhibit a notable price gap, with potential savings of up to 30% when purchased in the US or UAE.

As pre-orders for the iPhone 16 series begin on September 13, with official sales starting on September 20, customers are encouraged to consider various factors, including exchange rates and promotional offers, to secure the best deal on their new device.

Continue Reading
Advertisement

Recent Posts

Advertisement