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Mix-Up! Users Uninstalled Snapdeal Instead of Snapchat.


 

 

Indians were outraged at the ‘alleged’ comment of Snap Inc. CEO, Evan Spiegel that Snapchat is not mean for poor countries like India and Spain. well, no one is sure that whether he said it or not. But just this allegation was enough for the every charged Indians to start berating the company and its CEO. Thousands of users uninstalled snapchat app and gave it a one-star rating on Google Playstore. The outrage was so high that the Snapchat was reduced to a one-star rating on the store. Bad.

The worse was that many un-initiated souls who did not even know what Snapchat is and what it does, started uninstalling what they had on their phone- the Snapdeal app.

Now, that act borders on stupidity. This is the second time when Snapdeal have had to bear the users’ wrath on the playstore. The first was when its brand ambassador Amir Khan’s wife made a statement which did not go well with the Indians. The outrage that time started with boycotting Amir but then led to the brands that he endorsed.

While I reserve my opinion for a later blog-post, but this is a sad case where one company suffered because of someone else’s ‘alleged-not-proven’ fault.

 

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Shocking! After Raising $34m in Funding, this CEO Got Arrested Yesterday!


 

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Travel startup Stayzilla, which announced halt of its operations last month, ran into fresh trouble with its founder and chief executive Yogendra Vasupal taken into custody by commissioner of police in Chennai and locked up in Puzhal prison, a source ET spoke to confirmed.

According to an email sent by cofounder Sanchit Singhi, Sanghi asked investors of the company to help Vasupal who went ‘missing’ or out of contact after Vasupal last confirmed his location.

Started in 2005, Stayzilla recently shut down operations in February to rethink its business strategy.

The company that had raised about $34 million across four rounds of funding, counts Matrix Partners India and Nexus Ventures Partners among investors.

Casey Neistat’s Beme app in CNN basket, brings the YouTuber in-house

November 29, 2016 Leave a comment

CNN has acquired Beme, the social app co-founded by YouTuber Casey Neistat. As part of the deal, Neistat will lead the Beme team as a new standalone media sub-brand operating under CNN’s umbrella as executive producer, and all 11 members of the Beme team will join CNN.

Beme’s had an interesting history, with a founding vision of providing a means for users to share quick, short clips of video without edits, as a means of bridging the gap between live streaming and more polished YouTube-style creator production.

The social app actually launched in summer of 2015, but despite early success claims including half a million downloads and one million videos uploaded within its first few days of availability, things went quiet about the app following its debut – so much so that Neistat even posted an explainer video on YouTube a year after launch explaining “what the hell happened” to the app. This preceded a May relaunch as the app exited beta with many bug fixes and functional adjustments in tow.

Beme still never really found its footing, at least not with anywhere near the success of comparable social video apps like Snapchat or Musical.ly. Still, CNN is acquiring it with the intent of investing in the team and the product in order to create a new brand focused on a millennial audience, according to Variety.

Neistat had previously announced he would be ending his long-running daily vlog to focus on other projects, and now it’s clear he was talking about this tie-up with CNN.

2 Companies Who Will Hit the Most from WhatsApp Video Calling

November 20, 2016 Leave a comment

 

Many users of Whats App were surprised yesterday when they could update the app and start video calling their contacts. With a lot of people using WhatsApp for texting and calling video calling was the next logical extension of the app that has taken the world of communication by storm (I am not talking about Line, WeChat and China for a reason here).

Everyone know who will benefit the most from this new feature- Yes! You guessed it right. WhatsApp and its parent company Facebook.

But who will get ht the most? 1. Apple (FaceTime) 2. Skype

Most of the time when I have to video-call my wife or take interviews of candidates, I generally use either Skype of Face Time. For that matter if e have to slit the two between business and personal use of the video feature, I use Skype for Business and Face Time for Personal (family and friends) use.

WhatsApp has been till now the medium of choice for many of us for texting, sending images, voice message and various other attachments. I have seen people of all ages using WhatsApp for one to one messages, group messages, coordinating for executing various events- parties, birthdays surprises, delivery of packages etc. Now with the video call option on the same application, there is no need to open Skype or FaceTime.

Since the time WhatsApp has rolled out video calling feature, I have stopped using FaceTime or Skype for at least personal communication. Skype is still my medium of choice when it comes to professional/business communication. I know a lot of people around me who have made the same move- from Skype & Face Time to WhatsApp Video Calls. Having said that, most of my views are based on observing the behaviour of people around me rather than surveys and data. This, similarly, is my personal view. It might take a few months or even a year to see who actually benefits and who loses. For now, its a Thumbs Up to WhatsApp!

 

 

Learnings From AskMeBazaar Shut Down


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Today morning I woke up to the news of AskMe shutting down its services leaving thousands of its employees and lakhs of its vendors and partners in quandary. It is not unusual for startups to stumble and fail. Globally more than 95% of the startups shut down.

AskMe was a different care altogether. The startup had raised $119m from Astro Holdings and other investors and were in talks to raise another $200m at a valuation of $1b. But then Astro decided not to participate in the next round. Things came to a dead end when Astro skipped the last Board meeting and AskMe wrote a letter to Registrar of Companies not to let Astro wind up their operations before clearing their dues (Approx Rs300 Cr).

I was surprised why it came to such a situation that the company had to shut overnight and lay off all its employees. The reason I found out was that Astro Holdings owned a whooping 98.5 % stake in the company. Let that sink in.

I am not sure what the founder were thinking while raising funds, but this is an insane amount of stake to be offered to a single investor. It does not leave room for other investors to have their say. In this case Astro did not want to participate in the next round of funding and I am sure the legal formalities would have got messed up for bringing in new investors of raising funds from other minority investors (if any).

The biggest learnings that the other entrepreneurs should learn from this incident are:

  1. Never have one single investor own an insanely large chunk of your company. 98.5%….never!
  2. When you get money in the bank, try working out the unit economics rather than burning the money at an insane rate. AskMe spend a large chunk of money hiring Bollywood brand ambassadors for TVCs. The same would have given much better ROI had the amount been spent on online marketing.
  3. In case such a situation arises, take care of your people. They trusted the startup ecosystem and toiled for your venture day in and day out. Never leave them high and dray by wrapping up operations overnight. I am sure the founders would have known the situations months ago. They should have told the truth to the employees and held them in faith to turn around things. Now the employees will not only lose the faith in the founders, but also the Indian startup ecosystem.

Real-Time Data from the Biggest Tech Companies

February 7, 2016 1 comment

Check out this wonderful platform for the real-time per second data from some of the biggest tech companies of the world.

Revenue & Profit:

Data  Stats:

2014- The year of e-commerce Startups!

December 30, 2014 Leave a comment

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2014 will be remembered in the startup ecosystem of India which was  completely dominate by the e-commerce startups. Be it the success of mega funding  rounds of Flipkart and Snapdeal or the price wars raged by the e-retailers on each other. Or, the sweet-bitter memories of the one-day mega sales and shopping festivals. Or, the protests by the small shop owners who claimto have been mauled by the e-retail giants. Love it or hate it- the year was that of the e-commerce.

The Indian e-comm industry has yet to learn a lot of tricks of the trade, but one thing is for sure, it is here to stay and will only grow big.

The potential for growth can be judged from the fact that the total size of the Indian e-retail revenue for the year 2014 is less than half the revenue for the Singles Day sale of Alibaba in China. Market size of retail in India is estimated to be at $600 billion a year. Which makes the e-retail industry less than even 1% of the total retail market (organized and unorganized). There are many gaps in the current market that need to be addressed and will be addressed by new players. The coming years will see this percentage share grow to at-least 6-8% which gives a huge space for growth for the existing players as well as a fertile ground for new startups.

With new investments flowing into the Indian e-retail industry, I also see consolidation happening in the market. The 2013 and 2014 also saw some consolidation happening in the e-retail space with Flikart acquiring Let’sBuy & Myntra and Amazon trying to acquire Jabong. The consolidation will gain momentum in next two years to eliminate some of the redundancy in the market.

All said and done, the next couple of years are going to see a lot of action in the e-retail space. Get ready for a lot of click-click!