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18-12-2017 To 23-12- 2017

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Business News This Week,Startup Stories,Swiggy To Partner With Sodexo,Latest Business News 2017,Net Neutrality Latest News,Amazon Invest In Lending Platform Capital Float,Amazon India Investment,Vijay Shekhar Sharma Pledges Personal Stock For Paytm Mall,Amazon To Launch Tenor,Ola Acquires Foodpanda,Facebook Unveils New Features,Bitcoin Business News 2017,Flipkart Launch Artificial Intelligence Unit,5350 Startups Eligible for Startup India

The year 2017 has flown by with amazing speed and is quickly and surely winding down to a close. As we approach the end of the year with infinite speed, it is time to take stock and take a look at the different things that have happened in the Startup world in this past week. 

1. Net Neutrality And What It Means. 

Net neutrality has been an issue which has been involved in more discussions than one. From its benefits to its negative impact, net neutrality is one of the hottest topics being spoken about. Recently, the FCC banned net neutrality. This means that free speech on the internet is going to be a thing of the past. The question here is, is this ban a good thing or a bad thing?

2. Swiggy To Partner With Sodexo To Provide Easier Delivery and Payments

Food delivery platform, Swiggy, just partnered with the employee’s benefits provider Sodexo. At present, according to reports, more than 3 million people are making use of the Sodexo Meal Card option. Through this partnership, Swiggy aims at providing its users with a wide array of restaurants. The focus of the company is to empower the technological segment, enhance user experience and increase the digital acceptance of Sodexo Meal Cards.

3. Amazon To Invest In Lending Platform Capital Float

Ecommerce giant, Amazon, is all set to invest in the small and medium enterprise lending platform, Capital Float. This Seattle based company is getting ready to invest close to $ 10 million in the digital lending platform. Currently, the ecommerce giant has invested in online financial services platform, BankBazaar. At present, Amazon is facing major competition from its rival company, Flipkart and reports suggest that Flipkart is also in talks with several lending companies for partnerships.

4. Vijay Shekhar Sharma Pledges Personal Stock For Paytm Mall

Vijay Shekhar Sharma, the founder and Chief Executive Officer of Paytm, has pledged his personal stock in the ecommerce arm of Paytm, Paytm Mall for the employee stock option pool. Sharma will be pledging about 5% of his stock, which amounts to $ 50 million, to the ESOP corpus which will then become 10% of the overall company. This move to pledge personal stock to the ESOP corpus comes after Flipkart completed the largest buyback by a privately held Indian startup worth $ 100 million.

5. Amazon To Launch Tenor, Its Very Own Smartphone

Just a little over a month ago, Flipkart announced the launch of its very own smartphone Billion Capture+. In an attempt to counter this move, Amazon went ahead and launched its own smartphone under the banner, Tenor.  Private play labels like Amazon and Flipkart have raised the value of smartphones from beyond what they used to be, thereby creating a niche space for users.

6. Ola Acquires Food Delivery Startup Foodpanda

Homegrown cab aggregator, Ola, acquired the food delivery startup Foodpanda. Ola said it is going to acquire Foodpanda from its parent company Hero, in return for a percentage of Ola’s shares. Further, Ola said that it will invest $ 200 million after a period of time. With this acquisition, Ola will be able to enter the online food delivery and ordering service.

7. Facebook Unveils New Features To Curb Harassment

The social media giant, Facebook, announced new tools in an attempt to curb online harassment on social media as well as on its messaging app. Facebook has created this new feature by taking input from people who have experienced higher levels of harassment like journalists and women. The social media company consulted over 150 safety experts around the world for these new features.

8. Bitcoin Interrupted. Slumps From Its All Time High By 20 %

As of Sunday, Bitcoin slumped from its all time high of $ 19, 666 by a whopping 40%. Bitcoin’s monumental gains this year ensured that its price soared about 19 times. This has spurred both caution and alarm among some policymakers. According to reports, Bitcoin has experienced alternating levels of highs and lows. A rise in popularity of cryptocurrencies like Ether and Ripple is one of the main reason for this, according to reports. 

9. Alibaba Launches First Cloud Data Center In India

In an attempt to expand its ever growing presence in the world, Alibaba launched its first cloud data center in India. According to reports, this Jack Ma led firm will go live in January 2018. The new Alibaba data center will have 33 zones, spanning over regions like China, Hong Kong, Singapore, Japan, Australia, the Middle East, Europe and the United States. This move comes in a fight against the likes of AWS, Microsoft, Azure and Google Cloud.

10. Flipkart To Launch Artificial Intelligence Unit, AIForIndia

After launching its first data analytics brand, Billion, Flipkart is gearing up to create an Artificial Intelligence unit called AIForIndia. With a host of new additions, Flipkart has worked hard to secure its position as the number one ecommerce brand.

11. Quikr India To Buy HDFC Developers And HDFC Realty From HDFC For $ 56 Million

In an interesting move, Quikr India placed a bid to buy HDFC Developers and HDFC Realty from HDFC Ltd., for $ 56 million. Through the years, Quikr India has added a lot of verticals to its growing portfolio, thereby increasing its market value. At present, Quikr is one of the leading companies in India and has a market value of around $ 1.5 billion.

12. Bitcoin Slips Below $ 13,000

On Sunday, Bitcoin rose as much as $ 19,666 in the lead up to exchange giant CME Group’s launch of bitcoin futures. Nevertheless, the currency seems to have lost steam post the launch. The current plunge comes amid growing signs of mania among regulators and investors for anything cryptocurrency related. Although CME and its rival, Cboe Global Market have given this particular form of cryptocurrency perceived validation, a majority of policymakers are still skeptical and on the fence about the Bitcoin issue. 

13. 5,350 Startups Recognized Under Startup India Initiative

The Department of Industrial Policy and Development (DIPP,) stated that as of 1 December 2017, a total of 5,350 startups have been recognized under the Startup India Programme. Through this programme, about 40,000 people have been employed in the startup world. At present, India currently ranks third in the startup ecosystem, world over.

That’s all for this week! Subscribe to our portal to never miss updates from the startup world! If your startup has an exciting announcement coming up, you can even write to us at [email protected]. Catch up with the highlights of the week with our The News This Week section.

 

 

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Sachin Tendulkar Joins Bank of Baroda as Global Brand Ambassador: A Strategic Partnership for Growth!

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Bank of Baroda has appointed cricket legend Sachin Tendulkar as its global brand ambassador, marking a pivotal moment in the bank’s transformation strategy. This partnership aims to enhance the bank’s visibility and support its growth ambitions by leveraging Tendulkar’s immense popularity.

During the announcement, Debadatta Chand, Managing Director and CEO of Bank of Baroda, expressed pride in this collaboration, stating, “Sachin is a global icon who has always led by example.” He highlighted how Tendulkar has united the nation through his cricketing career, paralleling the bank’s role as a trusted partner for millions in achieving financial goals.

The collaboration comes at an opportune time as Bank of Baroda looks to expand its presence both domestically and internationally. The partnership is grounded in shared values of excellence and trust, aligning with Tendulkar’s esteemed legacy.

As part of this initiative, the bank will launch a campaign titled “Play The Masterstroke,” encouraging customers to make informed financial choices by choosing a trusted institution with over a century of legacy. Additionally, Bank of Baroda introduced the “bob Masterstroke Savings Account,” designed for clients seeking premium banking services.

Tendulkar expressed enthusiasm for the partnership, noting the bank’s evolution from modest beginnings to a leading financial institution built on principles of excellence and integrity. He remarked, “I am happy to partner with Bank of Baroda, an organization that continues to be relevant with the times.”

This collaboration not only strengthens Bank of Baroda’s brand but also positions Tendulkar as a key figure in promoting financial literacy and customer engagement. His involvement is expected to foster a deeper connection between the bank and its clientele.

In conclusion, Sachin Tendulkar’s appointment as global brand ambassador signifies Bank of Baroda’s strategic focus on aligning with prominent personalities who embody leadership and excellence. As both entities move forward together, they aim to create meaningful impacts that resonate across diverse demographics.

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OpenAI Launches Canvas: A Revolutionary Interface for Enhanced Collaboration in Writing and Coding!

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OpenAI has recently unveiled Canvas, a new interface designed to enhance the user experience for writing and coding projects within ChatGPT. This innovative feature, currently in early beta, represents the most significant visual redesign of ChatGPT since its launch two years ago. By facilitating more effective collaboration between users and the AI, Canvas aims to streamline the process of content creation and refinement.

Overview of Canvas

Canvas operates in a separate window alongside the traditional chat interface, providing users with a dedicated workspace to engage with ChatGPT on more complex tasks. This setup allows for a more interactive and collaborative approach, enabling users to generate text or code directly within the Canvas environment. Users can highlight specific sections of their work, prompting ChatGPT to make edits or provide tailored suggestions.

Key Features

  1. Collaborative Editing: Canvas allows users to work side by side with ChatGPT, making it easier to refine ideas and implement changes without losing context. Users can directly edit text or code and utilize a menu of shortcuts for various tasks, such as adjusting writing length or debugging code.
  2. Enhanced Context Understanding: Built on OpenAI’s GPT-4o model, Canvas is designed to understand broader contexts, enabling it to offer more relevant feedback and suggestions. For instance, if a user highlights a section of text and requests a specific change, ChatGPT can respond with targeted edits or even rewrite entire passages based on user input.
  3. Real-Time Feedback: For writing tasks, Canvas provides real-time feedback on grammar, clarity, and structure. Users can ask ChatGPT to suggest edits or change the tone of their writing, such as making it friendlier or adding emojis for emphasis.
  4. Coding Support: For developers, Canvas offers specialized features like adding comments to code, fixing bugs, and translating code into different programming languages. Users can highlight sections of code to receive explanations or ask for revisions, making it easier to track changes and understand complex coding tasks.

Availability

As of October 3, 2024, Canvas has been rolled out globally to ChatGPT Plus and Team users. Users in the Enterprise and Education sectors will gain access shortly thereafter. OpenAI plans to extend availability to all free users once the feature exits its beta phase.

Implications for Users

The introduction of Canvas reflects a growing trend among AI providers towards creating editable workspaces that facilitate more natural interactions between users and AI systems. Daniel Levine, an OpenAI product manager, emphasized that this interface allows for a more intuitive collaboration process compared to traditional chat interactions.

The ability to make iterative changes in real time is particularly beneficial for both writers and coders who often require multiple revisions before finalizing their work. By streamlining this process, Canvas aims to enhance productivity and creativity among its users.

Conclusion

The launch of Canvas marks a significant advancement in how users interact with ChatGPT for writing and coding projects. By providing a dedicated workspace that supports collaborative editing and contextual understanding, OpenAI positions Canvas as a valuable tool for enhancing productivity in creative endeavors. As this feature continues to evolve through user feedback during its beta phase, it promises to become an essential resource for anyone looking to leverage AI in their writing and coding tasks.

With these enhancements, OpenAI is not only improving the functionality of ChatGPT but also setting a new standard for AI-assisted collaboration in creative fields. As users adapt to this new interface, they can expect a more seamless experience that fosters innovation and efficiency in their projects.

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Is Samantha Prabhu joining Secret Alchemist to launch a new era of wellness and aromatherapy?

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Actress Samantha Prabhu has taken a significant step into the startup world by becoming a co-founder of Secret Alchemist, a direct-to-consumer (D2C) wellness brand specializing in aromatherapy. This move not only marks her entry into the wellness sector but also coincides with the brand’s recent achievement of raising $500,000 in a seed funding round led by Inflection Point Ventures (IPV), with contributions from prominent investors including Siddharth Shah, founder of Pharmeasy, and Rishubh Satiya, founder of Plix.

Founded in 2021 by Ankita Thadani and Akash Valia, Secret Alchemist focuses on creating a diverse range of products centered around essential oils and holistic wellness. The brand aims to utilize the newly acquired funds to enhance its marketing strategies, strengthen its brand presence, and expand its customer base. Thadani expressed enthusiasm regarding Prabhu’s involvement, highlighting that her personal journey with aromatherapy aligns perfectly with the company’s mission to promote wellness at its core.

Samantha Prabhu shared her personal connection to aromatherapy during her healing journey abroad, where she discovered the comforting effects of essential oils. She emphasized how this experience motivated her to seek out a trustworthy brand upon returning to India. After trying Secret Alchemist’s products and experiencing their positive impact firsthand, she felt compelled to share this transformative experience with others. “It’s not just about investing in a brand—it’s about believing in the power of natural remedies to bring true well-being,” she stated.

 

The funding will also facilitate team expansion and operational scaling as the company prepares for the festive season. Secret Alchemist plans to broaden its product offerings by introducing pure-grade essential oils available in various forms, including creams, mists, and shower gels. Currently, the product lineup includes roll-ons, candles, pain management solutions, hair care products, and skincare items. Additionally, the company provides bulk order options and consultations with certified aromatherapists.

The beauty and personal care market in India is experiencing rapid growth, valued at $31.5 billion with an annual growth rate of 30%. The D2C body care segment alone is valued at $2.6 billion. Secret Alchemist aims to tap into this expanding market by targeting consumers who prioritize sustainable and wellness-focused products.

Samantha Prabhu’s investment in Secret Alchemist marks her fourth foray into the startup ecosystem. She has previously invested in brands such as SustainKart, Nourish You, and The Souled Store. This trend of celebrity involvement in startups is becoming increasingly common in India; for instance, actor Nayanthara recently invested in the event tech startup Ticket9.

As Secret Alchemist embarks on this new chapter under Samantha Prabhu’s co-leadership, it is well-positioned to make a significant impact in the wellness sector. The combination of Prabhu’s influence and the founders’ expertise in aromatherapy is expected to drive growth and foster a deeper connection with consumers seeking holistic wellness solutions.

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