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<ul><li>India’s home-grown social network ShareChat is looking for its next round of investment, and Google may reportedly shell out $150 million to $200 million. </li><li>Even <keyword id="10387" type="CITY" weightage="20" keywordseo="Microsoft">Microsoft</keyword> has expressed its interest in ShareChat while chasing <keyword id="6762469" type="UNKNOWN" weightage="20" keywordseo="TikTok">TikTok</keyword>’s operations in the US. </li><li>Here’s why analysts think it makes sense that Google is looking to ShareChat in order to fill the gaps in its portfolio. </li></ul>Global tech giants are on the hunt for the next big social network. Facebook has rolled out Instagram Reels and Microsoft is looking to get its hands on the real deal by acquiring TikTok’s US business. Meanwhile, in India, Google is trying to finally get a piece of pie by investing in the country’s home-grown social networking platform, ShareChat. Neither Google nor ShareChat have commented on the <a href="https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/google-in-talks-with-sharechat-as-latter-scouts-for-150-200-million/articleshow/77582440.cms">Economic Times</a> article, which claims that the companies are in the preliminary stages of negotiating an investment between $150 to $200 million. Nonetheless, analysts believe that Google’s interest in the local-language network will fill in the missing pieces it has in its portfolio. “It’s very well possible that ShareChat will eventually get rebranded as something else for global markets,” founder and CEO of Greyhound Research, Sanchit Vir Gogia told Business Insider. What is ShareChat? ShareChat is a social networking platform, which, within itself, has a TikTok alternative — called <a href="https://www.businessinsider.in/tech/news/sharechats-tiktok-rival-moj-crosses-5mn-downloads-on-google-play/articleshow/76811384.cms">Moj</a> — that has <a href="https://www.businessinsider.in/business/startups/news/sharechat-rides-on-the-ban-on-apps-from-china-with-15-million-downloads-in-36-hours-but-is-itself-backed-by-chinese-investors/articleshow/76728139.cms">gained traction</a> since the ban on Chinese apps was announced in India. “This will enable Google to have a shot at its social networking ambitions but as of now, we see it as a strategic investment if it happens,” said counterpoint analyst Tarun Pathak. <div type="Article" hostid="261" msid="77062280" title="Instagram, Facebook, YouTube and Sharechat see substantial increase in time-spent after the ban on Chinese apps: Kantar" mstype="2" mssubtype="0"></div> The investment would not just give Google an opportunity to make headway in the social networking game, but also allow it to leverage ShareChat’s <a href="https://www.businessinsider.in/business/news/users-created-over-100-mn-pieces-of-hindi-content-in-2019-sharechat/articleshow/72965102.cms">vernacular content</a>. It already lost out to Facebook in the west. ShareChat could provide the tech company its second coming. The Indian social network is currently the fastest growing local language social media platform in India with support for 14 Indian languages and more than 60 million active users. It’s one of the reasons that even Microsoft is <a href="https://www.businesstoday.in/current/corporate/microsoft-in-prelim-talks-with-sharechat-indian-app-for-100-million-dollars-investment/story/412337.html">reportedly</a> looking to buy it even though it already has a monopoly in the professional networking space with LinkedIn. For ShareChat, an investment from Google would mean an investment by the ‘king of search engine optimisation’ (SEO), he explained. Brands pump in money where searchability is best — the more searchable a platform’s content is, the more likely it is to go viral. TikTok set the tone for social networks to travel from East to West The success of TikTok is only one case study on how the next big global social network won’t start out in the US or Europe but in Asia. But an app that’s popular in India will have a lot of users while being unable to general a lot of money. Indian users are diverse but they don’t like to spend online. “India is not a very high revenue market right now but it is a great testbed market from features, functionality and languages perspective,” said Gogia. Even with TikTok, one-third of its users were from India but the <a href="https://www.businessinsider.in/tech/apps/news/tiktok-made-more-money-than-any-other-app-in-july-despite-losing-its-largest-overseas-market/articleshow/77369131.cms">majority of its revenue was still from China.</a> Test local, make money global Many companies like Microsoft and Google already test drive their products in India and other countries before taking them to the US. According to Gogia, Google’s interest in ShareChat could very well be an attempt to drive innovation from a low-risk country and take it across broader global networks. If you look at it from Google’s point of view, it will be able to use the abundance of data to train its algorithms and artificial intelligence (AI) models in a very big way. “These models can then be taken into other countries from a monetisation perspective,” explained Gogia. Investing in ShareChat fits in perfectly with Google wanting a piece of the pie in India’s rising digital adoption. “This will give them rich insights on how the next half a billion first time internet users will embrace the internet and help in tweaking their services accordingly and not to forget the indirect benefits to their core advertisement segment,” said Pathak. SEE ALSO: <a href="https://www.businessinsider.in/tech/apps/news/the-heat-is-on-mark-zuckerberg-in-india-as-facebook-and-whatsapp-incur-the-ire-of-modis-rivals/articleshow/77575358.cms">The heat is on Mark Zuckerberg in India as Facebook and WhatsApp incur the ire of Modi's rivals</a> <a href="https://www.businessinsider.in/tech/apps/news/not-only-gmail-google-drive-meet-slides-docs-sites-groups-chat-keep-voice-services-also-facing-issue-as-per-google/articleshow/77652103.cms">Google Drive, Docs, Meet and others are working again after being out of service for over six hours</a> <a href="https://www.businessinsider.in/tech/apps/news/microsoft-is-ending-support-for-the-legacy-internet-explorer-but-its-only-going-to-affect-less-than-5-of-online-users/articleshow/77607727.cms">Microsoft is ending support for the legacy Internet Explorer — but it's only going to affect less than 5% of online users</a>

Google eyes India’s ShareChat as Microsoft goes after TikTok in the US — here’s why it makes sense

<ul><li><keyword id="2721952" type="General" weightage="20" keywordseo="crypto" source="Orion">Crypto</keyword> — not stocks — is going to be the asset-class of choice, Lightspeed Ventures said.</li><li>Lightspeed is not alone. Business Insider spoke to a few other VC firms like Pi Ventures and Speciale Invest to understand the rationale for big money chasing crypto.</li><li>Big investors with $100 trillion of capital are getting into <keyword id="6357017" type="General" weightage="20" keywordseo="cryptocurrency" source="Orion">cryptocurrency</keyword>, according to a Bloomberg report dated November 13.</li><li>Check out the latest news and trends in cryptocurrencies on<a href="https://www.businessinsider.in/cryptocurrency"> Business Insider</a>.</li></ul>At a time when the bigger part of the investment community is still cautious, US-based venture capital firm Lightspeed — whose popular investments include OYO, ShareChat and Epic Games — says crypto, not stocks, is going to be the asset-class of choice for the new-to-investing millennials in India and South East Asian markets. Lightspeed has already invested multi-million in blockchain technology, including cryptocurrencies, like FTX, Wintermute, Zerion, DeversiFi and Blockchain.com as of August 2021. “There is a lot more fiat (currency) that is outside of crypto entering crypto so yields in crypto are likely to stay high for the foreseeable future, and that might mean that for the foreseeable future, those that look for high yields — often the younger investors — will gravitate to crypto,” Hemant Mohapatra, partner at Lightspeed, told Business Insider. The venture capital firm believes that the high rate of interest, coupled with crypto regulation being a part of mainstream politics, are just a couple of factors that are going to attract more investors towards this value creation opportunity. “In India as well, years of regulatory pushback has begun to ease off, starting with the Supreme Court of India overturning a prior directive by the Reserve Bank of India (RBI) prohibiting banks from dealing with cryptocurrencies,” Hemant Mohapatra, partner at Lightspeed, said in a<a href="https://medium.com/lightspeedindia/lightspeeds-india-sea-crypto-landscape-7038eaa473e"> blog post</a>. ALSO WATCH: Crypto is crying for regulation because the ads are misleading <div type="javascript" title="Custom" contenttype="Video"><cdata><![CDATA[ ]]></cdata></div> Lightspeed is not alone in being bullish about crypto According to a <a href="https://www.bloomberg.com/news/audio/2021-11-13/big-investors-with-some-100-trillion-are-getting-crypto-curious">report</a> published by Bloomberg on November 13, institutional investors with a capital of $100 trillion are interested in investing in crypto. Global cryptocurrency monthly trading volumes have also significantly increased in 2021, growing from $271 billion in June quarter of 2020 during the first wave of covid to $2.2 trillion in May 2021. An advertisement by Indian Crypto exchanges, launched in November 2021, said that Indians have ₹6 lakh crore invested in cryptocurrencies triggering a spate of social media conversations on the topic of their legitimacy. <div type="image" title="The partner at a VC firm backing OYO, ShareChat and Epic Games explains why it’s betting big money on crypto ⁠— and he’s not alone" msid="87710484" hostid="261"></div> The craze of crypto currencies is also imminent in India, as one in six urban Indians intend to invest in these virtual tokes in the next six months, according to a consumer research firm <a href="https://www.financialexpress.com/brandwagon/16-urban-indians-currently-own-cryptocurrency-kantar-study/2338566/">Kantar</a>. This has the potential to eat into the larger investment pie according to Shubham Sandeep, principal at investment firm Pi Ventures (known for backing startups like Locus, Agnikul and Google-backed Wysa). This cannot be defined as a capital outflow but more like an opportunity lost for equity investments. “The last generation wanted to invest in real estate, then came the generation of 90s-2010s when their investments went into equity and over the next 10-20 years, the upcoming generation will get their first exposure on investment through crypto,” Sandeep added. He noted that investments are not being diverted from equity to crypto as of now. The volatility of the crypto market has allowed investors to maximise their profits from this underregulated segment. It is also getting much earlier to use these virtual currencies for varied uses. “But it is not for the faint hearted,” Sarabjot Singh Anand, director of computer science and engineering at School of Engineering and Technology, adds. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Companies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Percentage growth in 2021 to date </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bitcoin </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">127.7% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Ethereum </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">555% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Binance Coin </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1628% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Solana </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">53% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Cardano </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1,071% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Doge </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">4,614.22% </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> The market still has a long way to go, Avinash Shekhar, co-CEO of ZebPay and a member of Blockchain and Crypto Assets Council (BACC), noted. The remarkable growth and returns of cryptocurrencies is the major reason why $8 billion was invested in this crypto and blockchain domain in 2021 so far. Indian companies — CoinDCX, Coinswitch Kuber and others — have raised half a billion dollars this year as well. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Fundraise </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Investors </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FTX </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$900 million </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Paradigm, Sequoia Capital, Ribbit Capital </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Circle </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$440 million </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> Fidelity Management and Research Company, Marshall Wace, Digital Currency Group </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Ledger </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$380 million </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">10T Holdings, Cathay Innovation, Draper Esprit, Draper Associates, Draper Dragon, DCG </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">BlockFi </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$350 million </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bain Capital Ventures, partners of DST Global, Pomp Investments, Tiger Global </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Solana Labs </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$314 million </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Andreessen Horowitz, Polychain Capital, Alameda Research </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> “Cryptocurrencies undoubtedly have the potential to give high returns, but as they say, there is no free lunch. So the high returns come with greater risk.... I personally feel that crypto will become part of most institutional and individual portfolios which will see money flowing out of stocks but stocks will continue to remain an important part of any portfolio,” he added. Regulation is not necessarily a bad thing The India Parliament is <a href="https://www.cnbctv18.com/cryptocurrency/govt-likely-to-move-cryptocurrency-bill-in-parliaments-winter-session-work-on-to-modify-bill-11385552.htm">reportedly</a> planning to debate a new bill on the cryptocurrency bill in the Winter Session. You can read the highlights of what the bill is likely to propose <a href="https://www.businessinsider.in/cryptocurrency/news/indias-crypto-bill-will-still-have-a-few-hurdles-to-clear-before-becoming-a-law-even-if-the-cabinet-approves/articleshow/85397358.cms">here</a>. “Government has pulled back from a blanket ban and we do expect, and welcome, thoughtful regulation to bring crypto safely and broadly to the masses in ways that allows the benefits of crypto to see into tradfi [Traditional Finance] and avoids the common pitfalls and risks that this emerging ecosystem presents,” Mohapatra said. Arjun Rao of Speciale Invest — an investor in The ePlane Company, RocketLane and others — echoed the same, highlighting there is a greater scope of innovation in crypto as well. “We expect more innovation in crypto and conducive regulation to be the main drivers of increase in crypto investing in the coming years, the impact of macro economic trends (like rise in inflation) is harder to predict,” he told Business Insider. SEE ALSO: <a href="https://www.businessinsider.in/science/news/blue-origin-teaches-space-tourists-who-land-in-the-desert-what-to-do-if-their-rocket-lands-next-to-a-cactus/articleshow/87698700.cms">Blue Origin teaches space tourists who land in the desert what to do if their rocket lands next to a cactus</a> <a href="https://www.businessinsider.in/stock-market/news/elon-musk-sold-nearly-7-billion-worth-of-tesla-stock-this-week-and-says-hes-incurring-higher-taxes-on-purpose/articleshow/87699239.cms">Elon Musk sold nearly $7 billion worth of Tesla stock this week - and says he's incurring higher taxes on purpose</a> <a href="https://www.businessinsider.in/tech/news/former-spacex-engineer-accuses-company-of-racial-discrimination-denying-its-claims-that-he-was-fired-for-making-inappropriate-facial-expressions/articleshow/87699444.cms">Former SpaceX engineer accuses company of racial discrimination, denying its claims that he was fired for making inappropriate facial expressions</a>

The partner at a VC firm backing OYO, ShareChat and Epic Games explains why it’s betting big money on crypto ⁠— and he’s not alone

<ul><li>Twitter co-founder, <keyword id="194394" type="PERSON" weightage="20" keywordseo="Biz-Stone">Biz Stone</keyword>, announced that they will be investing in a Kerala based startup — <keyword id="6883189" type="UNKNOWN" weightage="20" keywordseo="Sieve">Sieve</keyword>. </li><li>Sieve is a platform for tech freelancers and agencies to provide services over the cloud. </li><li>This is Twitter’s second investment in an Indian tech startup after funding <keyword id="3358959" type="PERSON" weightage="20" keywordseo="ShareChat">ShareChat</keyword>, a local language social media app, in August. </li></ul>Twitter co-founder, Biz Stone, just announced that he will be investing in a startup mentored by the Kerala Startup Mission —, Sieve founded by Sanja Nediyara. This will be <keyword id="749437" type="COMPANY" weightage="20" keywordseo="Twitter-India">Twitter India</keyword>’s second investment in an Indian technology start up within a span of two months. In August, Twitter put funding up for ShareChat, an Indian social media app for local languages. "I have used the product of Sieve as a freelancer. As an Angel, I consider the person first, and the product second. I find Sanjay as a dedicated, empathetic and extremely hardworking individual," stated Stone during a video conference at Huddle Kerala 2019. In both instances, Twitter has not disclosed the amount it has invested. What is Sieve? Sieve is a platform for tech freelancers and agencies. It provides services like infrastructure to websites, creating digital signatures or even manages invoices. As of now, Sieve only serves the US market but has plans to expand into Europe. The aim is to allow entrepreneurs to build Internet companies in the cloud. Using Sieve, freelancers from all over the world can form companies, and work from anywhere in the world. Not just Twitter Sieve’s other investor is Friends of Oorjja, an ecosystem to help individuals from the differently-abled community. Nediyara received help from mentors in the banking industry and Otis Elevators. Google also showed an interest in Nediyara’s startup when they invited him to their annual developers conference, Google I/O. See also: <a href="https://www.businessinsider.in/facebook-india-head-explains-3-ways-that-indian-tech-startups-need-to-transform/articleshow/71327000.cms">Facebook India Head explains 3 ways that Indian tech startups need to transform</a>

Twitter invests in its second Indian start up within a span of two months

<ul><li><keyword id="691847" type="PERSON" weightage="20" keywordseo="Google-Cloud">Google Cloud</keyword> has appointed <keyword id="2776926" type="PERSON" weightage="20" keywordseo="Bikram-Singh-Bedi">Bikram Singh Bedi</keyword> as its new India Managing Director.</li><li>Bedi’s appointment comes as Google Cloud had recently elevated its India head Karan Bajwa as the Vice President of Google Cloud in Asia Pacific.</li><li>Bedi was the man who set up Amazon Web Services in India and led the vertical for six years long.</li></ul>Google Cloud has appointed Bikram Singh Bedi as its new India Managing Director. Interestingly, Bedi was the man who set up Amazon Web Services in India and led the vertical for six years long. Bedi’s appointment comes as Google Cloud had recently elevated its India head Karan Bajwa as the Vice President of Google Cloud in Asia Pacific. Right before joining Google Cloud, Bedi was the President Strategy and New Initiatives of Indian grocery startup Grofers. At Google, Bedi will be responsible for leading Google Cloud’s sales and operations teams in this dynamic market. “I’m excited about this new challenge and I look forward to extending Google Cloud’s momentum in India. The true test of 2021 will be how enterprises will leverage cloud computing to modernize and scale for growth and Google Cloud is committed to help them accelerate their digital transformation to build a strong foundation for the future,” said Bedi. The India cloud market is ramping up with players like Microsoft, Amazon, Google, IBM all looking for a share in the segment. The overall India public cloud services market is likely to touch $7.4 billion by 2024 growing at a CAGR of 22.2% for 2020-24, said a report by International Data Corporation. And Google has been making its presence felt in the segment with clients like industry leaders Wipro, TVS to startups like Sharechat. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/interview-a-hedge-fund-manager-explains-where-to-invest-when-nothing-is-cheap-in-india/articleshow/80682629.cms">INTERVIEW: A hedge fund manager explains where to invest when nothing is cheap in India</a> <a href="https://www.businessinsider.in/business/corporates/news/kishore-biyani-says-sebi-ban-wont-stop-future-group-deal-with-reliance/articleshow/80680781.cms">Kishore Biyani says SEBI ban won't stop Future Group's deal with Reliance</a>

Bikram Singh Bedi, the man who set up AWS in India, has now joined Google Cloud

<ul><li>The company has also managed to cut down its adjusted net losses to $21.3 million, from $29 million in the same quarter the previous year. </li><li>The company’s total liquidity stood at $174 million as of June 2020 – which will give the company a runway for the next 6-8 quarters. </li><li>Check out the latest news and updates on <a href="https://www.businessinsider.in/">Business Insider.</a></li></ul>India’s largest <keyword id="977682" type="PERSON" weightage="20" keywordseo="online-travel">online travel</keyword> aggregator <keyword id="54613" type="COMPANY" weightage="20" keywordseo="makemytrip">MakeMyTrip</keyword> earnings results for the April-June quarter show the extent of impact that this pandemic has had on the travel and tourism industry. <keyword id="255878" type="ORGANIZATION" weightage="20" keywordseo="MMT">MMT</keyword>’s revenues have fallen by 95.5% from $141.7 million to $6.3 million. However, the company has also managed to cut down its adjusted net losses to $21.3 million, from $29 million in the same quarter the previous year. But that doesn’t bother the company as much as the weakness of its peers excites it. The management said it is keen on acquisitions, which will help beef up its market share in online travel bookings. <div type="image" title="MMT charts1." msid="77677135" hostid="261"></div> However, it may not come as a surprise for investors as the stock has lost 17% of its value in the last one month. Here’s how the revenue has decreased for the company across segments. MakeMyTrip currently has over 50% market share in all the verticals. <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sectors </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Decrease in revenue </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Air Ticketing </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">91.6% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hotels and packages </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">98.6% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bus ticketing </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">98.2% </td></tr></tbody></table> Acquisitions on the cards The company had $174 million in cash as of June 2020, which will give the company a runway for the next 6-8 quarters, said Mohit Kabra, Chief Financial Officer of MMT. The company has said that even though it has zero debt, it has opened avenues for additional funds to explore any growth opportunities that might come their way. Analysts too expect MMT to explore acquisition opportunities. “We expect the impact of the COVID-19 outbreak will lead to consolidation in the OTA space given stretched peer balance sheets, which could lead to more than 10 percentage points of market share gain for MMYT (in hotels) over the next three years,” said a recent report by Goldman Sachs. The company has also secured credit and guarantee facilities of approximately $100 million. “Which includes a $70 million facility from an affiliate of our largest shareholder and the balance from a commercial bank in India,” said the company’s statement. MMT’s top management remained hopeful of the quarters to come as they said that travel has seen recovery since July. “We have begun to see early signs of recovery in our domestic travels business. Our first quarter performance reflects the bulk of the impact the lockdown had on our business. During the quarter, we took painful but necessary fixed cost reductions and fully flexed our variable costs to ensure we had ample liquidity to re-emerge stronger from the quarter ,” said <keyword id="6467279" type="UNKNOWN" weightage="20" keywordseo="Deep-Kalra">Deep Kalra</keyword>, Group Chairman of MakeMyTrip. The company is also planning to restore salaries of frontline workers and middle management staff by September, as it hopes the momentum of the business will be assured. CORRECTION: The headline has been updated after the company management reached out to Business Insider. SEE ALSO: <a href="https://www.businessinsider.in/business/news/heres-why-makemytrip-oyo-lemon-tree-and-likes-may-reap-the-most-out-of-the-long-term-recovery-in-hotels/articleshow/77670756.cms">Here's why MakeMyTrip, OYO, Lemon Tree and likes may reap the most out of the long-term recovery in hotels</a> <a href="https://www.businessinsider.in/business/startups/news/this-startups-popular-sleep-internship-with-1-one-lakh-stipend-is-back-netflix-show-indian-matchmaking-face-reader-is-the-intern-selector/articleshow/77673059.cms">This startup’s popular ‘sleep internship’ with ₹1 lakh stipend is back – Netflix show Indian Matchmaking’s face reader is the intern selector</a> <a href="https://www.businessinsider.in/tech/apps/news/google-eyes-indias-sharechat-as-microsoft-goes-after-tiktok-in-the-us-heres-why-it-makes-sense/articleshow/77667345.cms">Google eyes India’s ShareChat as Microsoft goes after TikTok in the US — here’s why it makes sense</a>

Debt-free MakeMyTrip sets aside money for investment opportunities — while its own revenue is down 95%

<ul><li>Google just announced the 10 startups that have been shortlisted for the second calls of its Launchpad Accelerator program in India.</li><li>All of the startups on the list have used artificial intelligence and machine learning to formulate their products.</li></ul> Google just announced the second wave of startups selected for their Launch Accelerator program in India. And, all the startups on the list feature use artificial intelligence (AI) and machine learning (ML) in one or the other component of their businesses. The program kicks off today with a one week mentorship programme boot camp organised by Google in Bengaluru which will be followed by more classes in April and May to address more specific issues — lasting a total of three months. Aside from guidance, Google will also provide support for AI and ML, cloud computing, developing user interfaces, using the Android platform, online presence, product strategy and marketing. And depending on the startup, they will be receiving Google Cloud Credits between $20,000 (₹1.3 million) to $100,000 (₹6.9 million). Meet the 10 startups that were shortlisted for Google’s second class of the Launchpad Accelerator program in India: 1. Opentalk Opentalk is an app that allows users to reach out to other users all over the world to hone their language skills. So users can meet new people that speak the language that they’re looking to learn. They also have the options for users to follow trending topics in case their looking to engage on a particular issue. OpenTalk already has a 100 languages, 150 countries and 1500 colleges using their app. 2. THB THB stands for Technology, Healthcare and Big Data Analytics and a pretty accurate description of the what the company does. Using technology they standardise data on healthcare to help healthcare providers and medical practitioners with different use cases like PEP (Personalised Patient Care), medical sales force productivity booster and clinical decision support. Based out of Gurgaon, the clinical intelligence company is currently present in 50 cities across 12 states in India. 3. Perceptiviti Data Solutions Having started out in 2017, Perceptiviti Data Solutions focused on finding solutions for fraud and risk management in insurance, financial services and digital payment services. Their flagship product called ‘Sherlock’ is a fraud detection platform that claims 90% accuracy after having assessed over one million insurance claims using AI. 4. DheeYantra DheeYatra is already in use by the Syndicate Bank and Indian Institute of Management Ahmedabad. It’s an AI platform that currently helps businesses operate across 8 different Indian languages. With the help of AI, the company has developed chatbots and solutions in natural language processing (NLP), optical character recognition (OCR), and Indic transliteration. Brand names, scanned images and even a whole website can be translated into various Indian vernacular languages using their application programming interfaces (APIs). 5. FinancePeer Just like there are peer-to-peer (P2P) online marketplaces for cars and used goods, FinancePeer is a P2P lending company that connects lenders with borrowers online. Users can sign up as borrowers or lenders after the platform analyses their borrower credit score using AI that taps into multiple parameters including social profiles. The company claims that it only takes 10 minutes to set up a profile online and since it’s an open marketplace, borrowers will only face competitive and low interest rates. Lenders, on the other hand, can allegedly get returns upto 37% per annum. 6. SmartCoin Gunning for financial inclusion in India, SmartCoin is another lending app that uses AI and machine learning to assess the risk profile of a borrower. The app main goal is to provide short-term credit to the underserved and low-income households in India. So far, SmartCoin has a 100,000 users and has shelled out over 300,000 loans. 7. HRBOT Finding new candidates for a job can be excruciating process without a filtering mechanism in place. HRBOT, using AI and machine learning to scan the 120,000 job seekers on its platform to find applicants that would be best suited for a particular post according to the requirements that recruiters share. It company’s main selling point is that it has access to candidates in tier-2 and tier-3 cities in India. 8. Savera.ai The use of solar panels to reduce the burden of electricity requirements and its positive environment impact are no secret. But since the technology is still relatively new in India, Savera.ai helps users decide whether or not their roof is ready for a solar panel by issuing a ‘Sun Score’. The ‘Sun Score’ is the final ranking of how ready an individual’s house is for a solar panel after analysing the location of a users’ house, identifying the rooftop, running a weather analysis and taking individual state’s solar policy into account. And, should a user choose to set up a solar panel, savera.ai has chatbot support to get them setup with local service providers. 9. Kaleidofin This is essentially a financial management tool. Users can set their financial goals and Kaleidofin will suggest how much user should saved each month while taking financial volatilities into account. Since the profile is tailored for each user, how a user’s savings should be used is also diversified over different financial products including ways to invest using a data driven model to estimate the income level, saving capacity and financial health of customers. It’s already being used by many mutual funds in India like Aditya Birla Capital, Franklin Templeton Investments, HDFC Mutual Fund, ICICI Prudential Life Insurance, and SBI Mutual Fund. 10. Adiuvo Diagnostics The company isn’t just an app or a platform — but has an actual physical device which can detect and classify skin infections in under 2 minutes. It’s easy for doctors because the ‘Skin-Scope’ is a handheld medical device and the pro for patients is that the whole diagnostic process is non-invasive. Kaleidofin and Adiuvo Diagnostics are the only two startups selected that have women entrepreneurs at the helm. Google initially started the Launchpad Accelerator Program globally back in 2016. The very first batch of the Launchpad Accelerator that was originally a 6-month mentorship at the Google headquarters in California included Nestaway, a Ratan Tata investment that helps users find homes without a broker. Another well known startup, ShareChat — a social networking chat platform that uses local Indian languages — was also a part of the Launchpad Accelerator in the second batch. The Launchpad Accelerator India was only introduced by Google in July 2018 that saw startups like Multibhashi, OliveWear and Genrobotics. Aside from India, the program also operates in Sao Paulo, Tel Aviv, Nigeria, Tokyo and Singapore. So far, it has mentored 30 startups in India through its global accelerator programme. See also: <a href="https://www.businessinsider.in/Heres-how-to-make-it-to-Googles-Launchpad-AcceleratorProgram/articleshow/52359183.cms" style="">Here’s how to make it to Google's Launchpad Accelerator Program</a> <a href="https://www.businessinsider.in/heres-what-is-in-store-for-these-7-indian-startups-selected-for-googles-launchpad-accelerator-program/articleshow/55682687.cms" style="">Here's what's in store for these 7 Indian Startups selected for Google's Launchpad Accelerator Program</a>

Google will groom these 10 Indian startups that use AI and machine learning

If you’re a startup, I guess you won’t mind getting noticed and coached by tech giant Google (to put it mildly). Mumbai-based home services start-up <a href="http://www.businessinsider.in/searchresult.cms?query=TaskBob&amp;sortorder=effectivedate">TaskBob</a> got through recently, along with 5 others from across the country including Programming Hub, RedCarpet, MagicPin, ShareChat and PlaySimpleGames. 
 
These six start-ups will join 18 new companies from Brazil, Indonesia and Mexico at <a href="http://www.businessinsider.in/searchresult.cms?query=Google+Headquarters&amp;sortorder=effectivedate">Google’s Headquarters</a> for a two-week all-expenses paid boot camp starting June 13, 2016. Each will we allotted mentors, and will try and find solutions to their unique problems. The six-month-long mentorship programme will also include a fat cheque of $50,000 in funding. 
 
Business Insider sat down with <a href="http://www.businessinsider.in/searchresult.cms?query=Aseem+Khare&amp;sortorder=effectivedate">Aseem Khare</a>, the CEO of <keyword id="2810947" type="UNKNOWN" weightage="60" keywordseo="Taskbob">Taskbob</keyword> to understand what it takes to get noticed by Google. 
 
How did the idea come about? 
Usually we don’t participate in competitions, but this was <a href="http://www.businessinsider.in/searchresult.cms?query=Google&amp;sortorder=effectivedate">Google</a>. We invested our time in this because we really wanted to learn from the experience. 
 
What was the questionnaire like? 
It was a pretty long. There were questions around what problem we’re solving, how big it is, whether we’re tech-driven or not, what our strengths and weaknesses are and past and possible future challenges. 
 
They (<a href="http://www.businessinsider.in/searchresult.cms?query=Google&amp;sortorder=effectivedate">Google</a> execs) evaluated our answers, and we made it. There were no face-to-face interviews. 
 
What are you looking to get out of these 2 weeks? 
We want to know how great tech companies are built and how they think. We also want to learn how to make world-class products, and develop a company culture that ensures innovation happens even at scale. These are core to creating a successful business. 
 
Do you see any future consolation in India’s services space? 
A lot of consolation will happen in India over the next 2-3 years. However, companies that are create a superior experience for customers and offer a quality value proposition for service providers will survive. 
 
Your plans to differentiate against segment-leader <a href="http://www.businessinsider.in/searchresult.cms?query=UrbanClap&amp;sortorder=effectivedate">UrbanClap</a>. 
Customers want a uniform experience at scale. That’s only possible if you’re solving a big problem and have a really strong tech backing that’ll allow you to scale easily. 
 
Over 80% of our customers are repeat users, and over 95% customers give us over 4 stars. We believe that’s a strong differentiator. 
 
What are your plans for the $50,000 you’ll get? 
There are no special plans. We’ll invest that in the regular scheme of things - spending on suppliers and marketing. 
 
Your advice to young startups 
There are multiple factors on which startups get selected to Google’s program. Firstly, you must solve a big and real problem. Secondly, you need to be able to solve the problem at scale via technology. The third is your team. You need a strong team to address these issues. What, how and who’s solving the problem matters.

Here’s how to make it to Google's Launchpad Accelerator
Program

Good morning! This is the tech news you need to know this Tuesday. <a href="http://newsletter.businessinsider.com/join/4np/10-things-in-tech&amp;hash=8122c716833601fc1471f79af063b104?nr_email_referer=1&amp;utm_source=Sailthru&amp;utm_medium=email&amp;utm_content=10_things_tech&amp;utm_campaign=Post%20Blast%20sai:%2010%20things%20in%20tech%20you%20need%20to%20know%20today&amp;utm_term=10%20THINGS%20IN%20TECH%20YOU%20NEED%20TO%20KNOW%20-%20ENGAGED%2C%20ACTIVE%2C%20PASSIVE%2C%20DISENGAGED0PASSIVE%2C%20DISENGAGED">Sign up here</a> to get this email in your inbox every morning.Have an Amazon Alexa device? Listen to this update by searching "Business Insider" in your flash briefing settings.<ol><ol><li>The UK blocked Julian Assange's extradition to the US. A district judge <a href="https://www.businessinsider.com/julian-assange-no-extradition-mental-health-risk-2021-01">ruled that Assange</a>, who faces a litany of hacking and espionage charges in the US, was a suicide and self-harm risk. </li><li>Jack Ma may have vanished. The Alibaba and Ant Group founder <a href="https://www.businessinsider.com/alibaba-founder-jack-ma-suspected-missing-2021-1">has not been seen publicly</a> in more than two months, and he was abruptly replaced as a judge on the African talent show he founded. </li><li>Googlers plan to form a union. More than 200 staff at Google's parent company Alphabet <a href="https://www.businessinsider.com/google-alphabet-workers-form-union-us-canada-contractors-2021-1">have formed the Alphabet Workers Union</a>, which is open to all employees across the US and Canada. </li><li>Slack had an outage on the first workday of 2021. The company is heavily relied on thanks to the pandemic, and <a href="https://www.businessinsider.com/slack-down-outage-users-report-issues-2021-1">some 15,000 users reported issues</a>. </li><li>A 12-year-old may sue TikTok over data privacy. The girl, <a href="https://www.businessinsider.com/tiktok-legal-action-12-year-old-girl-childrens-data-2021-1">who on Wednesday won the right</a> to remain anonymous should she bring a case against the short form-video company, is being supported by England's children's commissioner, Anne Longfield. </li><li>Samsung will launch brand new Galaxy phones. The firm <a href="https://www.businessinsider.com/samsung-launch-galaxy-smartphones-one-month-earlier-livestream-2021-1?op=1&amp;scrolla=5eb6d68b7fedc32c19ef33b433b4">is holding a launch on January 14</a>, about a month earlier than usual, and <a href="https://www.businessinsider.com/samsung-may-launch-flagship-phone-early-to-grab-huawei-share-sources-2020-11">sources</a> have indicated that the early launch is designed to grab market share from Huawei and fend off competition from Apple. </li><li>Singapore's police can use its contact-tracing app data. Singapore is under renewed scrutiny after updating the privacy policy of its national contact tracing app TraceTogether, and now says that police can access user data if someone is under criminal investigation. </li><li>Bitcoin fell 17%. It <a href="https://markets.businessinsider.com/currencies/news/bitcoin-price-biggest-drop-since-march-after-record-crypto-volatility-2021-1-1029930393">fell back on Monday</a> below $30,000 at intraday lows after hitting a record high of $34,792.47 on Sunday. </li><li>Google and Snap may invest in an Indian startup. <a href="https://techcrunch.com/2021/01/04/google-and-snap-in-talks-to-invest-in-india-social-network-sharechat/">According to TechCrunch</a>, the pair may invest in ShareChat, a video messaging service. </li><li>Exclusive: Instagram offers advice on how often to share. Three creators told Business Insider that <a href="https://www.businessinsider.com/instagram-gives-some-influencers-recommendations-on-how-much-to-post-2021-1">Instagram had privately shared specific guidance</a> with them about how frequently to post on the platform and what types of posts would help them boost their follower counts and engagement rates.</li></ol></ol>

10 things in tech you need to know today

New Delhi, July 1 (IANS) The ban on 59 Chinese apps has given homegrown app developers a once-in-a-lifetime opportunity to create world-class products across chat, short videos, and photo/video sharing segments and led by ShareChat, desi apps are now scouting for fresh finds to invest intelligently into scaling their platforms and handle the upcoming rush. In a country where nearly 300 million people are on Facebook, another 400 million on WhatsApp and over 120 million on Chinese app TikTok -- not to forget the millions who are hooked to Instagram, Twitter and Snapchat -- there has not been a single social media platform to date with its roots in India that has created headlines globally. The time is ripe to rise to the occasion and show that Indian programmers can build top-notch social media apps right here, without going to the US or other countries. The regional language social media platform ShareChat is changing the way in which the next billion users will interact on the internet. With over 1 billion monthly Whatsapp shares, users spend more than 25 minutes daily on the platform. ShareChat has a user base of over 60 million monthly active users spread across the country and available in 15 languages including Hindi, Malayalam, Gujarati, Marathi, Punjabi, Telugu, Tamil, Bengali, Odia, Kannada, Assamese, Haryanvi, Rajasthani, Bhojpuri and Urdu. The Bengaluru-based regional language social platform has become so popular that even Twitter came onboard when the four-year-old company raised $100 million in its Series D round of funding last year. "ShareChat is silently leading a social media revolution with a strong focus on regional outreach keeping its Bharat connect pristine," said Berges Y Malu, Director, Public Policy, ShareChat. "We welcome the move from the government against platforms that have had serious privacy, cyber security and national security risks. We expect the government to continue their support for the Indian startup ecosystem," Malu added in a statement. Public is a video-only social platform and has already registered 50 million users, with more than one million videos being created every month. According to Azhar Iqubal, Founder and CEO of Public, we have immense talent and resources in India and the vacuum created by this ban is a great opportunity for Indian app makers to launch products that have the potential to do well globally. "It will also make users more vigilant in checking what permissions they have given to apps as smartphones store sensitive information," said Iqubal. Public is currently available in five Indian languages: Hindi, Bengali, Gujarati, Tamil and Telugu, and aims to have over 100 million users by the end of the year. Roposo is another leading homegrown short-video making app with more than 65 million downloads in the country. TikTok users, including influencers with huge fan followings, have started switching to Roposo in large numbers after the ban. "We have built Roposo as a clean and ethical platform. The unique idea of channels in Roposo provides every talented Indian with an opportunity to grow rapidly," said Mayank Bhangadia, co-founder of Roposo. Indians have rushed to download social app Chingari, a desi alternative to Chinese TikTok, which is witnessing nearly 1 lakh downloads and over 2 million views per hour since the government banned 59 Chinese apps over national security concerns. Already downloaded over 3 million times, the app which was founded by Bengaluru-based programmers Biswatma Nayak and Siddharth Gautam last year, was trending at the top spot on Google Play Store. "As Chingari is setting new benchmarks, a lot of investors are showing interest in our app. We are holding crucial discussions to get a good investor(s) on board so as to scale up our free-of-cost social platform," informed Nayak. Launched in October 2017, Khabri is another fastest-growing digital audio platform providing content in the regional language. "We urge Indian corporate leaders to come forward and reclaim the country's business ecosystem and consumers through supporting/investing in Indian startups," said Sandeep Singh, co-founder and president, Khabri. "Since the word spread that Indians now have a homegrown and more entertaining alternative to TikTok, we have been recording traffic beyond expectations on our app," said Nayak. Lifestyle community commerce platform Trell has witnessed more than 1 million downloads after India banned Chinese apps. With over 30 million downloads and 9 million monthly active users on its app, Trell has witnessed a 25 times growth within one year. "We welcome all the Tiktok and Chinese apps content creators with open arms to come and engage on Trell. As the largest Indian lifestyle social app, we will continue to ensure that the privacy and data of users will be protected," said Pulkit Agarwal, Co-Founder, Trell. --IANS na/in

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