18th January 2018 | Daily Business Digest
#Indian Startup News
#1. TiE Amaravati Chapter And Andhra Angels To Help Foster Andhra Pradesh Startup Ecosystem
The Minister for IT&C, Govt of AP Nara Lokesh has formally launched TiE Amaravati Chapter and Andhra Angels in Vijayawada to kickstart the startup ecosystem in Andhra Pradesh, which had weakened after Hyderabad’s separation from the state. Launched TiE Amaravati and Angels Network — AP Chapter today in Vijayawada.
#2. Alibaba To Launch OTT Video Service In India In Three Months
Chinese ecommerce giant Alibaba has announced plans to launch an over-the-top (OTT) video service in India over the next three months. As per a report by The Ken, the service will be introduced in partnership with its Indian investee company Paytm and mobile Internet subsidiary UCWeb.
#3. Grab Acquires Bengaluru Based Payments Startup iKaaz
Grab, the on-demand transportation and mobile payments platform in Southeast Asia has acquired Bengaluru-based startup iKaaz. With this, Grab is aiming to capture the rich functionality of iKaaz’ mobile payments platform
#4. PM Narendra Modi, Israeli PM To Inaugurate ICreate Entrepreneurship Centre In Ahmedabad
Prime Minister Narendra Modi and his Israeli counterpart Benjamin Netanyahu are set to inaugurate a centre for entrepreneurship and technology in Ahmedabad today. Dubbed as the International Centre for Entrepreneurship and Technology (iCreate), the institution aims to identify, nurture and mentors aspiring entrepreneurs.
#5. PhonePe Follows Paytm; Adds RedBus And More As In-App Features
Following in the footsteps of Paytm, Flipkart’s digital payments arm PhonePe has added more apps on its platform as part of its in-app offerings. While the company had already added SafeGold to enable the buy-sell 24-carat gold feature on its platform on December 19, 2017, the PhonePe app has now integrated the bus booking app RedBus’ facilities too.
#6. Bajaj Finance To Get Higher Stake In Digital Payments Company MobiKwik Due To Change In Valuation
Bajaj Finance will now hold 12.60% in digital payments company MobiKwik, up from the 10.83% it acquired in August last year for about $35.2 Mn (INR 225 Cr). As per a stock-exchange filing, due to a change in the conversion price of compulsorily convertible cumulative preference shares (CCCPS), the company will now hold a 12.60%
#7. Bajaj Finance To Get Higher Stake In Digital Payments Company MobiKwik Due To Change In Valuation
Bajaj Finance will now hold 12.60% in digital payments company MobiKwik, up from the 10.83% it acquired in August last year for about $35.2 Mn (INR 225 Cr)
#8. Private Companies Come To Rescue Of Aadhaar; File Petition In Supreme Court
Coming to the rescue of the Indian government’s beleaguered Aadhaar system are a group of private companies that have reportedly petitioned to the Supreme Court for the continuity of the citizen identity programme. The development comes ahead of the apex court’s pivotal hearing today about the validity of Aadhaar.
#TechNews
#1. New Android spyware found to steal encrypted WhatsApp messages
#2. Microsoft Surface Book 2 coming to India soon
#3. Honor 9 Lite with front and rear dual cameras launched in India
#4. Microsoft Patents ‘Mind Control’ Tech to Operate Apps With Just a Thought
#5. Internet of Services (IOS) Raises 35K Ether in funding
#6. Hike brings payments, news, and messaging to basic Android phones without mobile data
#7. Global app downloads topped 175 billion in 2017, revenue surpassed $86 billion
#8. Google’s Project Fi now offers unlimited data (with a catch)
#9. Under the new YouTube guidelines, channels will need to have 1,000 subscribers and 4,000 hours of watch time within the last year to be eligible for receiving ad revenue.
#Indian Business News
#1. Newgen IPO Races Ahead To 70% Subscription On Day 2
After a slow start on day 1, the IPO of the software company has raced ahead to reach almost 70% mark on day 2, as per the data available on BSE. The Newgen IPO will get closed on January 18, 2018.
