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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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Wipro Appoints Insider Omkar Nisal as Europe CEO!

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Wipro Appoints Insider Omkar Nisal as Europe CEO!

Wipro has announced the appointment of Omkar Nisal as the Chief Executive Officer for its Europe Strategic Market Unit (SMU), effective immediately. Nisal, who has been with Wipro since 2012, will be based in London and will report directly to CEO and Managing Director Srini Pallia. He will also join Wipro’s executive board.

Nisal succeeds Pierre Bruno, who is stepping down after a four-year tenure leading Wipro’s European operations. Bruno will continue to work with Nisal during the transition period to ensure a smooth handover of responsibilities.

Omkar Nisal’s Role

In his new role, Nisal will be responsible for leading Wipro’s growth and expansion in Europe. He brings a wealth of experience and a deep understanding of the European market. Prior to this appointment, he served as Senior Vice President and Managing Director for the UK and Ireland, overseeing a significant portion of Wipro’s European business with a regional profit and loss (P&L) exceeding $1 billion.

 

Nisal has established himself as a trusted advisor to clients, particularly in the banking and finance sectors. He has played a key role in enabling digital transformation for numerous financial institutions across the UK, Europe, the Middle East, and Africa, focusing on customer journey redesign, enterprise engineering, and AI-led automation.

A Focus on Digital Transformation

Nisal is recognized for his expertise in digital transformation and his ability to build strong client relationships. Under his leadership, Wipro aims to strengthen its position in the European market by leveraging innovative technologies and enhancing service delivery. His strategic vision is expected to play a pivotal role in driving future growth and improving operational efficiency within the region.

Context of the Appointment

Nisal’s promotion reflects Wipro’s ongoing strategy to promote internal talent to key leadership positions amidst significant changes within the company. In recent months, Wipro has experienced several high-profile departures, including former CEO Thierry Delaporte and other senior executives. This shift in leadership is part of a broader effort by Srini Pallia to revitalize Wipro’s operations and improve performance in key markets.

Wipro views Europe as a crucial growth market and is prioritizing strategic investments to solidify its foothold. The company has faced challenges in this region, with reports indicating that its European operations accounted for 27.9% ($742 million) of its total revenue for the quarter ending September 2024, down from previous periods. This underperformance highlights the importance of effective leadership in revitalizing growth.

Conclusion

The appointment of Omkar Nisal as CEO of Wipro’s Europe SMU marks a strategic move aimed at enhancing the company’s competitive edge in a rapidly evolving technological landscape. With his extensive experience and proven track record in digital transformation, Nisal is well-positioned to lead Wipro’s efforts in expanding its presence and delivering exceptional results for clients across Europe.

 

As Wipro navigates these changes, stakeholders will be closely watching how Nisal’s leadership influences the company’s trajectory in one of its key markets. His focus on innovation and customer-centric strategies is expected to play a vital role in shaping Wipro’s future success in Europe.

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Swiggy Takes on Zomato with New ‘Scenes’ App for Live Events!

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Swiggy Takes on Zomato with New ‘Scenes’ App for Live Events!

In a direct challenge to Zomato’s recent foray into the events and experiences market, Swiggy has launched its own dedicated app, ‘Scenes.’ This new platform aims to curate and offer a diverse range of live events, including music concerts, stand-up comedy shows, and exclusive dining experiences. The launch of Scenes marks an important strategic move for Swiggy as it seeks to expand its service offerings beyond food delivery.

A Focus on Live Events

Unlike Zomato’s District app, which covers a broader spectrum of experiences, Swiggy’s Scenes is specifically tailored to live events. Users can browse through a curated list of events, purchase tickets directly within the app, and avail themselves of exclusive offers and discounts. The app currently features events such as New Year’s Eve parties, live music performances, and DJ nights at partner restaurants, enhancing the social dining experience for users.

Expanding the Swiggy Ecosystem

The introduction of Scenes is part of Swiggy’s ongoing strategy to diversify its offerings and strengthen its position as a comprehensive lifestyle platform. The company has been aggressively expanding its services beyond food delivery into areas such as quick commerce and grocery delivery. By venturing into live events, Swiggy aims to capture a share of the growing market for entertainment and experiences.

One BLCK: A Premium Membership

To further enhance user experience, Swiggy has introduced ‘One BLCK,’ an exclusive membership program designed for premium users. This membership offers a range of benefits, including:

  • Priority Delivery: Users receive faster delivery times with an on-time guarantee.
  • Exclusive Perks: Members enjoy complimentary drinks and desserts at partner restaurants.
  • Concierge Services: Personalized customer support enhances the overall service experience.

The membership is priced at INR 299 for three months, targeting users who are willing to pay a premium for enhanced convenience and service.

The Battle Heats Up

With both Swiggy and Zomato vying for dominance in the Indian foodtech market, competition is intensifying. The launch of Scenes represents another chapter in this rivalry as both companies strive to capture a larger share of the burgeoning events and experiences market. Zomato has been proactive in this space, having acquired Paytm’s events and ticketing business earlier this year and launching District as a standalone app for experiences.

As the online entertainment ticketing space continues to grow—projected to reach $7.80 billion by 2029—Swiggy’s entry into this arena positions it well against established players like BookMyShow and TicketNew. The Indian Event and Exhibition Market is expected to see significant growth, driven by rising consumer demand for live experiences.

Conclusion

The launch of the Scenes app underscores Swiggy’s commitment to innovation and its strategy to diversify revenue streams beyond food delivery. As the company continues to expand its ecosystem with new offerings like One BLCK and live event ticketing, it aims to enhance customer engagement and loyalty. With both Swiggy and Zomato competing aggressively in multiple domains—including food delivery, quick commerce, dining out, and now event ticketing—the battle for supremacy in India’s foodtech landscape is set to intensify in the coming months.

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Google and NCERT Partner to Revolutionize Education in India!

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Google and NCERT Partner to Revolutionize Education in India!

Google has announced a strategic partnership with the National Council of Educational Research and Training (NCERT) to enhance access to quality education across India. This collaboration aims to empower students, parents, and teachers by providing engaging, multilingual educational content through YouTube, thereby addressing the diverse learning needs of the Indian population.

Key Highlights of the Partnership

  • YouTube Channels in 29 Indian Languages: NCERT will launch dedicated YouTube channels in 29 Indian languages, including Indian Sign Language, making educational resources accessible to a wide range of learners. This initiative is designed to cater to the linguistic diversity of India and ensure that students from various backgrounds can benefit from quality educational materials.
  • NPTEL Courses on YouTube: In collaboration with the National Programme on Technology Enhanced Learning (NPTEL), Google will offer a variety of credentialed courses on YouTube. These courses will cover subjects such as pure sciences, sports psychology, literature, and rocket propulsion. Learners who complete these courses can obtain certifications through the NPTEL-SWAYAM portal, providing them with valuable credentials recognized by India’s prestigious IITs.
  • AI-Powered Learning: Google will leverage its AI technology to enhance learning experiences by providing contextual information, definitions, and images alongside video content. This feature will help students grasp complex concepts more effectively by offering immediate access to supplementary information relevant to the topics being discussed in the videos.

Impact on Education

This initiative marks a significant step toward bridging the digital divide and empowering learners across India. By providing free, high-quality educational content, Google and NCERT are helping to create a brighter future for the next generation. The partnership not only aims to improve educational outcomes but also seeks to foster digital literacy among students and educators alike.

Jonathan Katzman, Director of Product Management at YouTube Learning, emphasized the importance of this collaboration: “Learning has always been at the heart of YouTube. In India, where accessible education is crucial for unlocking the nation’s potential, YouTube can help make learning content more accessible through innovative partnerships, tools, and resources.”

Conclusion

As Google and NCERT work together to roll out this initiative, they are poised to make a substantial impact on education in India. By harnessing technology and focusing on multilingual content delivery, this partnership aims to empower thousands of students and educators across the country. As educational needs continue to evolve, such collaborations will play a vital role in shaping a more inclusive and effective learning environment for all.

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