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New Delhi, Despite the cut-throat competition coming from the Facebook family of apps, <keyword id="6358096" type="PERSON" weightage="20" keywordseo="snapchat">Snapchat</keyword> has added 16 million daily active users in the fourth quarter of 2020 to reach 265 million users -- up 22 per cent year-over-year -- and <keyword id="3658" type="COUNTRY" weightage="20" keywordseo="India">India</keyword> has once again proved to be its <keyword id="10709492" type="UNKNOWN" weightage="20" keywordseo="high-growth-market">high-growth market</keyword>. OnePlus India created Lenses for Diwali as a means to bring people together safely during a pandemic. "Their Lenses garnered over 80 million impressions and reached over 14 million <keyword id="24754" type="COMPANY" weightage="20" keywordseo="snap">Snap</keyword>chatters in India. Overall, the campaign was highly successful and drove a 9 point lift in both ad awareness and a 7 point lift in message awareness," said Snap CEO Spiegel. Snapchat Camera is helping create an average of over 5 billion Snaps every single day. The Snapchat generation, primarily Gen Z and millennials, are 150 per cent more likely to communicate with pictures than words and 82 per cent of them believe they have a personal responsibility to change the world," Spiegel said on a call with investors late on Thursday. Spiegel said that the company has evolved Stories over time to embrace new formats like Shows with total time spent watching Shows increasing nearly 70 per cent year-over-year in 2020. "Each month, over 250 million Snapchatters open our Map where they can find the people and places that mean the most to them. There are now more than 35 million <keyword id="6358610" type="UNKNOWN" weightage="20" keywordseo="businesses">businesses</keyword> on the Map for our community to discover, and connecting local businesses," he informed. Today, more than 200 million people engage with AR on Snapchat every day on average. Looking forward, "we plan to accelerate our full-year revenue growth beyond the 46 per cent year-over-year growth achieved in 2020, and grow our community around the world by improving and localizing the Snapchat product experience". Snap reported revenue of $2.5 billion for 2020, growing 46 per cent year-over-year. "In Q4 2020, we generated revenue of $911 million, a significant acceleration of 18 percentage points to 62 per cent year-over-year growth," the company said. Snap said that the reach among 13 to 34-year-olds in many of its established markets continues to grow. SEE ALSO: <a href="https://www.businessinsider.in/policy/economy/news/how-big-is-indias-debt-and-should-it-be-a-worry/articleshow/80688623.cms">How big is India's debt and should it be a worry?</a> <a href="https://www.businessinsider.in/stock-market/news/heres-why-you-arent-being-able-to-apply-for-brookfield-reit-ipo-through-zerodha-groww-angel-broking-and-other-stockbroking-apps/articleshow/80686457.cms">Here's why you aren't being able to apply for Brookfield REIT IPO through Zerodha, Groww and other stockbroking apps</a>

Snapchat is gaining traction in India as it hits 265 million daily active users

New Delhi, Microsoft-owned open source developer platform <keyword id="1505863" type="COMPANY" weightage="20" keywordseo="GitHub">GitHub</keyword> has reduced its <keyword id="125920" type="COMPANY" weightage="20" keywordseo="marketplace">Marketplace</keyword> transaction fee from 25 per cent to just 5 per cent. The move will put more revenue in the pockets of the <keyword id="6357020" type="PERSON" weightage="20" keywordseo="developers">developers</keyword>, who are doing the <keyword id="10715749" type="UNKNOWN" weightage="20" keywordseo="work-building-tools">work building tools</keyword> that support the GitHub community, the company said in a statement on Friday. "We're increasing developer's take-home pay for apps sold in the marketplace from 75 to 95 per cent. GitHub will only keep a 5 per cent transaction fee," it added. More than 56 million developers are now building on GitHub globally. This includes more than 1.9 billion contributions added and more than 60 million new repositories created, according to GitHub's annual State of the Octoverse Report that came out in December last year. Github has also announced to simplify app verification process on its Marketplace. Launched in 2017 and now home to the world's largest <keyword id="1968247" type="COMPANY" weightage="20" keywordseo="DevOps">DevOps</keyword> ecosystem, GitHub Marketplace is the single destination for developers to find, sell, and share tools and solutions that help simplify and improve the process of building software. Previously, a deep review of app security and functionality was required before an app could be added to Marketplace. "Moving forward, we'll verify your organisation's identity and common-sense security precautions by Validating your domain with a simple DNS TXT record, validating the email address on record and requiring two-factor authentication for your GitHub organisation," GitHub announced. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/heres-why-you-arent-being-able-to-apply-for-brookfield-reit-ipo-through-zerodha-groww-angel-broking-and-other-stockbroking-apps/articleshow/80686457.cms">Groww and other stockbroking apps</a> <a href="https://www.businessinsider.in/stock-market/news/analysts-explain-why-indigo-paints-shares-fell-with-a-thud-just-like-burger-king-and-mrs-bectors-and-what-to-do-with-it-now/articleshow/80704864.cms">Indigo Paints joins the league of Burger King and Bector's — frenzied IPOs that fizzled out</a> <a href="https://www.businessinsider.in/tech/news/the-india-stack-that-bill-gates-and-sundar-pichai-so-love-is-set-to-get-much-bigger-thanks-to-the-indian-governments-new-blockchain-strategy/articleshow/80718403.cms">The India stack that Bill Gates and Sundar Pichai so love is set to get much bigger – thanks to the Indian government’s new blockchain strategy</a>

Microsoft's GitHub slashes Marketplace transaction fee from 25% to 5%

New Delhi, Global digital <keyword id="6370208" type="UNKNOWN" weightage="20" keywordseo="Payment">payment</keyword> platform <keyword id="6357940" type="DEFINITION" weightage="20" keywordseo="paypal">PayPal</keyword> on Friday decided to wind down its domestic payment services in <keyword id="3658" type="COUNTRY" weightage="20" keywordseo="India">India</keyword> from April 1. From April 1, the company will focus all its attention on enabling more <keyword id="2387333" type="ORGANIZATION" weightage="20" keywordseo="international-sales">international sales</keyword> for Indian businesses, and shift focus away from its domestic products in India. "This means we will no longer offer domestic payment services within India from April 1," a PayPal spokesperson told IANS. The company has three centres in Bengaluru, Chennai and Hyderabad which are touted as the largest outside the US. The company also has its business development teams in India. PayPal said that it will continue to invest in product development that "enables Indian businesses to reach nearly 350 million PayPal consumers worldwide, increase their sales internationally, and help the Indian economy return to growth". The company processed $1.4 billion worth of international sales for over 360,000 merchants in India last year. The company on Thursday reported a strong growth in the fourth quarter of 2020 with revenue of $6.12 billion. It reported total payment volume (TPV) of $277 billion, growing 39 per cent. It added 16 million Net New Active Accounts (NNAs) in the fourth quarter. According to the company, it can have the greatest positive impact in India's economic recovery by pivoting its business to support its customers where they need it most. "PayPal is committed to doing all we can to help Indian businesses during these challenging times. The critical role our global payments platform plays in India has only been magnified by the pandemic," the company spokesperson said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/policy/economy/news/how-big-is-indias-debt-and-should-it-be-a-worry/articleshow/80688623.cms">How big is India's debt and should it be a worry?</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/heres-why-you-arent-being-able-to-apply-for-brookfield-reit-ipo-through-zerodha-groww-angel-broking-and-other-stockbroking-apps/articleshow/80686457.cms">Here's why you aren't being able to apply for Brookfield REIT IPO through Zerodha, Groww and other stockbroking apps</a>

PayPal to focus on Indian businesses wanting to go global as it winds down operations from April 1

<ul><li>Shares of CDSL have gained 3% on July 9 as the depository’s <keyword id="240048" type="PERSON" weightage="20" keywordseo="demat-accounts">demat accounts</keyword> have reached 40 million. </li><li>Retail investors’ growing interest in investing in financial markets have benefited the depository. </li><li>Central Depository Services’ subsidiary that manages KYC records of mutual fund inverters now has over 30 million KYC records of investors.</li></ul>Shares of Central Depository Services (CDSL) have seen a four fold increase (296%) since March 2020 because the number of small investors in the country has grown sharply in the last year. On July 9, the stock gained 3% as the depository’s demat accounts reached 40 million. The company earns a major part of the revenue from the annual fee by listed securities to the depositor followed by transactional charges by brokers for every transaction that is settled. Central Depository Services’s subsidiary that manages KYC (know your customer) records of mutual fund investors now has over 30 million investors in its database. <div type="image" title="CDSL demat accounts" height="900" width="1200" msid="84268414" hostid="261"></div>Source: CDSL The sell-off in equities made the share markets attractive right after the COVID-19 outbreak in the first three months of 2020. That lured a bunch of new investors to open new accounts. The subsequent bull run ⁠— the Sensex has gained as much as 40% since March 2020 then ⁠— led to many more joining in the fear of missing out. “This journey of financial inclusion has to enhance to engage with a higher number of persons to foray into the securities market to achieve the objective to make India a capital market hub that is highly focused on corporate governance, technology, investor protection, transparency and sustainability,” said Nehal Vora, managing director and chief executive of CDSL in a press release on July 8. Tech startups like Zerodha, Groww and Upstox, which provide an easy and convenient way of investment, have also gained immensely from this wave. Zerodha holds 18.85% market share with 3.4 million unique active investors followed by Upstox with 10.9% market share with 1.9 million unique active investors, reveals data by stock market analytics platform Trade Brains. <div type="image" title="Top 5 broking firm active clients" height="900" width="1200" msid="84268454" hostid="261"></div>Source: Trade Brains CDSL’s net profit grew to ₹201 crore in the financial year 2021 from ₹106 crore in March 2020, a rise of 50%. Total income rose to ₹400 crore from ₹284 crore during the period. <div type="image" title="CDSL net profit" height="900" width="1200" msid="84268481" hostid="261"></div> SEE ALSO - <a href="https://www.businessinsider.in/tech/news/google-calendars-new-rsvp-option-will-let-you-specify-how-you-want-to-attend-a-meeting/articleshow/84237490.cms">Google Calendar’s new RSVP option will let you specify how you want to attend a meeting</a> <a href="https://www.businessinsider.in/business/corporates/news/tcs-hires-over-20000-in-june-quarter-its-highest-ever-quarterly-addition/articleshow/84240423.cms">TCS has loaded up half a million peeps as it expects many to move on</a>

CDSL stock has skyrocketed 296% since March 2020 on surge in retail demat accounts

Bengaluru, With <keyword id="8763838" type="UNKNOWN" weightage="20" keywordseo="covid-19">Covid-19</keyword> disrupting the world of work, "anywhere" workforce has now emerged as a <keyword id="10711064" type="UNKNOWN" weightage="20" keywordseo="top-challenge">top challenge</keyword> until 2023 for many Indian CEOs, said an <keyword id="10875" type="COMPANY" weightage="20" keywordseo="IBM">IBM</keyword> study on Friday. Half of outperforming <keyword id="10711065" type="UNKNOWN" weightage="20" keywordseo="company-ceos">company CEOs</keyword> surveyed globally and 35 per cent in <keyword id="3658" type="LOCATION" weightage="20" keywordseo="India">India</keyword> said managing a remote "anywhere" workforce is a top leadership challenge over the next few years. The majority of CEOs surveyed in India see <keyword id="10711066" type="UNKNOWN" weightage="20" keywordseo="technological-factors">technological factors</keyword>, market factors and regulatory concerns among the most important external forces that will affect their business in the next few years, following the massive disruptions of 2020, according to the IBM Institute for Business Value (IBV) study. The regulatory concerns reflect a rising assertiveness by governments around privacy, data, trade and -- amplified by Covid-19 -- health. Global CEOs of outperforming organisations -- those who were in the top 20 per cent for revenue growth of those surveyed -- are prioritising talent, technology and partnerships to position their companies for success post-the Covid-19 pandemic. Across the board, surveyed CEOs in India said Internet of Things (IoT), Cloud, Artificial Intelligence (AI)/Machine Learning, robotic process automation and advanced analytics were the top technologies that they believe can deliver benefits for their business. About 45 per cent of outperforming company CEOs in India expect AI/Machine Learning to deliver results in the next two-three years. "We are living in an all-pervasive digital world and enterprises must transform with speed to remain relevant and win," Sandip Patel, Managing Director, IBM India/South Asia, said in a statement. Outperforming company CEOs are also more focused on partnerships, according to the IBV study. In India, 55 per cent of outperforming CEOs surveyed said partnerships have become more important for driving business performance while only about half as many underperformers said the same. In addition, 41 per cent of company CEOs in India report they plan to prioritise employee well-being even if it affects near-term profitability. The study polled 3,000 CEOs across 26 industries and nearly 50 countries including India - 111 CEOs. SEE ALSO: <a href="https://www.businessinsider.in/policy/economy/news/how-big-is-indias-debt-and-should-it-be-a-worry/articleshow/80688623.cms">How big is India's debt and should it be a worry?</a> <a href="https://www.businessinsider.in/stock-market/news/heres-why-you-arent-being-able-to-apply-for-brookfield-reit-ipo-through-zerodha-groww-angel-broking-and-other-stockbroking-apps/articleshow/80686457.cms">Here's why you aren't being able to apply for Brookfield REIT IPO through Zerodha, Groww and other stockbroking apps</a> <a href="https://www.businessinsider.in/stock-market/news/analysts-explain-why-indigo-paints-shares-fell-with-a-thud-just-like-burger-king-and-mrs-bectors-and-what-to-do-with-it-now/articleshow/80704864.cms">Indigo Paints joins the league of Burger King and Bector's — frenzied IPOs that fizzled out</a>

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Snapchat is gaining traction in India as it hits 265 million daily active users

IANS

Microsoft's GitHub slashes Marketplace transaction fee from 25% to 5%

IANS

PayPal to focus on Indian businesses wanting to go global as it winds down operations from April 1

IANS

CDSL stock has skyrocketed 296% since March 2020 on surge in retail demat accounts

Bhakti Makwana

Indian CEOs have a new challenge — employees working from anywhere in the remote era

IANS

Mutual fund industry to see many mergers in next couple of years, says Aditya Birla Sun Life AMC’s CEO

Bhakti Makwana

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