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Morning Briefing (9 Min Reading Time)
Top news & stories of the startup ecosystem from India & around the world
Digital payment platform PhonePe has introduced micro-apps for hospitality company chain OYO, bus ticketing platform Abhibus, and Flipkart group company Myntra. The move is part of PhonePe’s effort to create an open payment ecosystem for businesses and users to connect with each other, and also take their offerings to over 100 Mn PhonePe users.
Google India has announced its financials for FY18, thereby recording a 30% increase in its business over the previous year. This is more than 50% increase over the past three years. As per reports, nearly 69% of Google India’s revenues are driven by advertising service that displays ads next to search results.
Swedish furniture and home furnishing retailer Ikea will start its online retail operations in India by March 2019, as the company aims on creating a multichannel experience for its customers in the country, Ikea India chief executive Peter Betzel said.
Fact sheet by Inc42 Datalabs.
Manav Garg who founded Eka Software, a commodity trading software company in 2004, has seen many seasons of entrepreneurs, the rise of Indian startup ecosystem and, along the way, has grown his company to a leading provider of commodity management solutions all over the world. We asked Garg his views on new technologies such as artificial intelligence (AI) and machine learning and their future in India. Here is the excerpts of the conversation.
Vishal Gondal believes that you will not get people simply by putting up ads on Naukri and LinkedIn, but rather on the field by networking. “You are more likely to find your early employees and early co-founders as I said not on Linkedin or Naukri but they will be in conferences, events, or if you are in the health space, your co-founder might be running a marathon with you,” he says.
AllTrails has raised $75 million, led by Spectrum Equity, which has taken a majority stake in the company in the process. Founded in 2010, AllTrails raised a small amount of capital years ago from investors, including 2020 Ventures and 500 Startups. It was also part of AngelPad’s inaugural accelerator class. This is its first sizeable round of equity financing.
This was highly irregular as normal Facebook users can’t do this — if you delete messages from your own inbox, those messages still remain in the recipient’s inbox. Then in April, Facebook said it planned to implement an “unsend” feature for everyone, but gave no further details or delivery date.
Steve Jurvetson, the high-flying investor and Tesla board member ousted from his venture capital firm almost a year ago, is making moves as part of his attempted comeback, Recode has learned. Jurvetson is searching for co-founders to join Future Ventures, his new investing firm, and one likely hire is Maryanna Saenko.