1. Articles in category: Social Networking

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    1. Meet the 10 startups selected at RBL Bank’s The Big Pitch 2.0

      Meet the 10 startups selected at RBL Bank’s The Big Pitch 2.0

      RBL Bank has announced the names of 10 winners for The Big Pitch 2.0, a startup competition organised by the private sector lender’s India Startup Club and Amity innovation incubator. The Big Pitch 2.0 is a platform for startups and entrepreneurs to pitch their ideas to angel investors, business incubators, management consultants and advisors.

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    2. Sequoia Capital offloads more stake in Just Dial, yields poor returns

      Sequoia Capital offloads more stake in Just Dial, yields poor returns

      Venture capital and growth-stage investment firm Sequoia Capital has yet again offloaded some stake in online local business search engine Just Dial Ltd, to reap below average returns from the eight-year-old investment. The partial exit comes soon after Just Dial shares surged following reports of takeover talks with US internet giant Google, a subsidiary of Alphabet Inc. Across multiple transactions this week, Sequoia sold over 8 lakh shares worth Rs 45 crore, according to stock exchange data.

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    3. Exclusive: Droom & ShopClues founder Sandeep Aggarwal backs content startup WittyFeed

      Exclusive: Droom & ShopClues founder Sandeep Aggarwal backs content startup WittyFeed

      Sandeep Aggarwal, the founder of used car marketplace Droom and e-commerce portal ShopClues, told VCCircle that has invested an undisclosed amount in media content startup WittyFeed. Besides WittyFeed, Aggarwal also invested in Israel and US-based venture capital fund LionBird Ventures earlier this year. His ticket investment size in each startup ranges from anywhere between Rs 25 lakh and Rs 1.5 crore.

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    4. Kalaari, Sequoia settle for sub-par returns from Via.com exit

      Kalaari, Sequoia settle for sub-par returns from Via.com exit

      Venture capital firms Kalaari Capital and Sequoia Capital have exited online-offline travel agency Via.com, one of their earliest bets, with unimpressive returns after the portal was acquired by US-based software firm Ebix Inc last month. Kalaari had invested around Rs 36 crore in Via.com in two tranches between 2007 and 2009 while Sequoia had put in around Rs 48 crore in 2009 for around 20% stake each.

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    5. Internet Digest: Bigbasket, Mswipe, OYO, ShareChat, & more

      Internet Digest: Bigbasket, Mswipe, OYO, ShareChat, & more

      Online grocer Bigbasket has signed a 3-year deal with SourceEzy Technologies Pvt. Ltd, an e-procurement software and consulting firm to save over Rs 100 crore in the next 3 years. The contract will comprise the entire e-procurement requirement of the company including Capital Expenditure, Operational Expenditure, and Services.

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    6. Facebook launches digital, startup training hubs in India

      Facebook launches digital, startup training hubs in India

      Facebook on Wednesday introduced its digital training and startup training hubs in India aimed at helping small businesses and people grow by giving them the digital skills they need to compete in today’s digital economy. Facebook said it plans to train more than half a million people in the country by 2020 through these online training hubs, which are being rolled out first in India.

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    7. UBS India chief Aashish Kamat quits; March Capital may open office in India

      UBS India chief Aashish Kamat quits; March Capital may open office in India

      Aashish Kamat has resigned as the chief executive officer of Swiss banking giant UBS’s India operations, The Economic Times reported. Kamat will be replaced by Harald Egger, who is currently head of group corporate services and sourcing at UBS, the report said. It didn’t specify where it got the information from. Kamat took over as UBS India head in 2011. He was previously the chairman of UBS’ financial institutions group in Asia.

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    8. Online hotel booking startup MiStay raises seed funding

      Online hotel booking startup MiStay raises seed funding

      Bangalore-based MiStay Hospitality Pvt. Ltd, which runs online hotel reservations startup MiStay, has raised an undisclosed amount in seed funding from Axilor Ventures and a group of angels, a press statement said. Sandeep Jaiswal, co-founder and chief executive of MiStay, told VCCircle that the funds will be used for hiring talent and marketing, apart from expanding operations.

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    9. Facebook launches ‘bot makeover contest’ for small businesses

      Facebook launches ‘bot makeover contest’ for small businesses

      Inspired by small businesses who are using Facebook Messenger to connect with their communities and customers, the social media giant has announced the launch of the first-ever “bot makeover contest”. In partnership with the bot development platform ManyChat, the contest will have three winners who will receive $5,000 each in ad credits.

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      Mentions: Nielsen SMB
    10. FreshMenu appoints former Snapdeal exec as biz and tech head

      FreshMenu appoints former Snapdeal exec as biz and tech head

      Bengaluru-based food-tech startup Foodvista India Pvt. Ltd, which operates online food delivery platform FreshMenu, has appointed former Snapdeal executive Pradeep Desai as chief business and technology officer. According to his LinkedIn account, Desai took charge of his new assignment in September this year. Rashmi Daga, founder of FreshMenu, did not immediately respond to email queries from VCCircle. The Economic Times reported the development.

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    11. Paytm invests in online lending startup CreditMate

      Paytm invests in online lending startup CreditMate

      One97 Communication Ltd, which runs mobile wallet firm Paytm, said on Tuesday it has picked up a stake in Mumbai-based fintech startup CreditMate. CreditMate helps two-wheeler dealers and financiers to assess and approve vehicle loans to customers with no formal credit history, Paytm said in a statement. It did not disclose the stake it bought or the amount it paid, but said CreditMate—operated by Urja Money Pvt.

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      Mentions: Jonathan Bill
    12. Menswear brand Mr Button raises Series A funding

      Menswear brand Mr Button raises Series A funding

      Jaipur-based Khetan Apparel Pvt. Ltd, which owns premium menswear brand Mr Button, has raised an undisclosed amount in a Series A round led by Nine Rivers Capital founder Sandeep Daga. UAE-based Jetty Ventures and a few other high net worth individuals also participated in the round. The financial details of the transaction could, however, not be immediately ascertained.

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    13. Tencent beats Alibaba to $500 bn valuation, overtakes Facebook

      Tencent beats Alibaba to $500 bn valuation, overtakes Facebook

      China’s biggest social network and gaming firm Tencent Holdings, which last week reported forecast-beating quarterly results, is close to making Malaysia the first foreign country to roll out its WeChat ecosystem, an executive told Reuters. Tencent has made a “breakthrough” in gaining an e-payment license in Malaysia for local transactions, and plans a launch early next year, senior vice president S.Y. Lau said in an interview.

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    14. Exclusive: UK’s Notion Capital, others invest $2.7 mn in big data platform Heckyl

      Exclusive: UK’s Notion Capital, others invest $2.7 mn in big data platform Heckyl

      London- and Mumbai-based Heckyl Technologies Pvt. Ltd, which operates a big data analytics platform for investors, traders and researchers, has raised Rs 17.64 crore ($2.7 million), show the company’s filings with the Ministry of Corporate Affairs. Heckyl raised the capital on 18 October by allocating 14,343 Series-C preferential shares at a subscription price of Rs 12, 302 apiece, including a premium of Rs 12, 292.

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    15. Facebook to launch its video platform ‘Watch’ in India: Report

      Facebook to launch its video platform ‘Watch’ in India: Report

      Facebook Watch was launched earlier this year in August, in the US.

      Earlier this August, Facebook had launched its exclusive platform for videos called ‘Watch’. Facebook Watch is however currently available only in the US. The platform is available on mobile web, desktop, and the smartphone app as well. It is now reported that Facebook will launch Watch in India as early as the start of 2018. The timeline for the launch is said to fall between January and March.

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    16. Alia Bhatt backs fashion-tech startup StyleCracker

      Alia Bhatt backs fashion-tech startup StyleCracker

      StyleCracker, a fashion portal where users can order celebrity stylist-curated products, has raised an undisclosed amount of funding from actress Alia Bhatt, it said in a statement. The startup, run by Mumbai-based Kanvas Consultancy Pvt. Ltd, connects women shoppers with designers for advice on fashion and styling trends. It also provides users access to a catalogue of looks. To be updated… Like this report? Sign up for our daily newsletter to get our top reports.

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    17. Bike rentals startup ONN Bikes raises $692K in pre-Series A funding

      Bike rentals startup ONN Bikes raises $692K in pre-Series A funding

      Mumbai-based Motocruizer Technologies India Pvt. Ltd, which operates self-riding bike rental platform ONN Bikes, has raised Rs 4.5 crore ($692,000) in a pre-Series A round led by existing investor Z Nation Lab. The round also saw the participation of JITO Angel Network and Mumbai-based funding and incubation platform Venture Catalysts.

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    18. Google India crosses a billion dollar in sales for the first time: Report

      Google India crosses a billion dollar in sales for the first time: Report

      Increased mobile ad spending from marketers led to the topline growth.

      Google has raked in revenues of over a billion dollars from India for the first time this year. Sales crossed Rs 7,200 crore (roughly $1.1 billion) in 2017, recording a 22 percent increase over 2016′s Rs 5,904 crore. That is only half the growth the search giant recorded between 2015 and 2016, according to reports.

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    19. Facebook starts piloting its peer-to-peer selling feature in India

      Facebook starts piloting its peer-to-peer selling feature in India

      Facebook has started a pilot of its Marketplace feature in India, starting with Mumbai. The social media’s Marketplace feature connects local buyers and sellers, who are mostly looking to buy or sell second hand or user goods via Facebook. Facebook’s spokesperson confirmed the development to MediaNama. The move was first reported by The Economic Times.

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    20. Will Facebook’s foray into social commerce give OLX and Quikr the jitters?

      Will Facebook’s foray into social commerce give OLX and Quikr the jitters?

      Facebook, Inc., the world’s biggest social network that boasts 2 billion monthly active users, is testing a ‘Marketplace’ feature for the first time in India to gauge initial reactions. Though the tech giant is not entirely new to social commerce in India—sale and purchase of gadgets, furniture, vehicles and even real estate have been happening on Facebook groups—the company now plans to bunch up all such posts and groups under a common tab on the app.

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    21. Xiaomi plans to invest $1 bn in Indian startups, says CEO Lei Jun

      Xiaomi plans to invest $1 bn in Indian startups, says CEO Lei Jun

      Chinese electronics maker Xiaomi Corp plans to invest $1 billion in 100 Indian startups over the next five years in a bid to create an ecosystem of apps around its smartphone brand, CEO Lei Jun said in a report. In an interview to Mint, Lei said that Xiaomi and its sister firm Shunwei Capital has already invested in six Indian companies that include Hungama and KrazyBee.

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    22. Facebook starts testing Marketplace in India, starting with Mumbai

      Facebook starts testing Marketplace in India, starting with Mumbai

      Facebook Marketplace allows users to sell and purchase products online.

      As Facebook expands its presence in India, the social media giant will soon launch its Marketplace platform in the country. As the name suggests, Facebook Marketplace allows people to sell and buy products online but in an organized community like Facebook. According to ET, Facebook started testing the feature in Mumbai from November 16, and users in Mumbai are expected to use Marketplace very soon.

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      Mentions: OLX
    23. Ebix to pick 50% stake in Kanoria’s BPO biz Vara Technologies

      Ebix to pick 50% stake in Kanoria’s BPO biz Vara Technologies

      US-based software and ecommerce service firm Ebix, Inc has formed a joint venture with Kanoria Foundation’s IT services firm Vara Technologies. The JV, which will be branded as Vara-Ebix, involves a capital infusion by Ebix. In return, the Nasdaq-listed firm will pick 50% stake in Vara, it said in a statement. However, it did not disclose the value of investment.

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