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New Delhi, Unicorn Fintech firm <keyword id="143842" type="General" weightage="20" keywordseo="MobiKwik" source="Orion">MobiKwik</keyword> on Tuesday reported its first ever consolidated profit at Rs 3 crore in the first quarter ended June 30, a senior company official said. MobiKwik Co-Founder and COO Upasana Taku told PTI that MobiKwik has become the first fintech firm to post consolidated profit and expects to maintain the momentum throughout the year. "We have registered an adjusted Earnings before interest, taxes, depreciation, and amortization (EBITDA) of Rs 13.6 crore which is 181 per cent increase on a year-on-year basis. "This is the second consecutive quarter when we have posted positive EBITDA and the first quarter when we have posted consolidated profit after tax of Rs 3 crore. We expect to continue the growth momentum and achieve full-year profitability," Taku said. Taku said that she expects other startups also to turn profitable as it will give a boost to the investment environment in the country and sentiments of investors. She said that MobiKwik has been growing consistently without cash burn and margins have been improving quarter over quarter. "Our revenues grew to Rs 177 crores in the quarter, which is 68 per cent higher compared to corresponding quarter last fiscal and contribution margin rose by 108 per cent to Rs 73.9 crore," Taku said. In the March 2023 quarter, MobiKwik had posted revenue of Rs 160 crore and recorded an adjusted EBITDA of Rs 3 crore. "In FY 2022-23, we achieved all the major goals we set for MobiKwik the previous year. First quarter has been a good start to the fiscal year. Our numbers are positive in all parameters, be it adjusted EBITDA, EBITDA or PBT (profit before tax). We expect to deliver over 80 per cent topline growth for this fiscal year," Taku said. Peak XV backed MobiKwik ended the financial year 2022-23 with Rs 560 crore in revenue and became profitable from the fourth quarter of the financial year 2022-23, and its contribution margin rose to Rs 169.5 crore as compared to Rs 42 crores in FY 2021-22, nearly 304 per cent Y-o-Y growth. She said that the company gets about half of the business from payments services which is mainly payment made from wallet service and the rest of the half from distribution of financial services comprising buy-now-pay-later, consumer loans etc. The company at present has over 14 crore registered user base and around 40 lakh merchant partners.

MobiKwik posts first ever consolidated profit in Jun quarter 2023-24

<keyword id="596" type="General" weightage="100" keywordseo="hyundai" source="Orion">Hyundai</keyword> <keyword id="1384468" type="General" weightage="80" keywordseo="mobis" source="Orion">Mobis</keyword>, South Korea's leading auto parts maker, said on Monday it has developed the world's first rollable display for vehicles. The rollable display disappears when the engine is turned off and the screen rolls up and down depending on driving conditions, the company said in a statement. The display is scaled up to two-thirds when using navigation and is switched to full-screen mode to watch videos while the vehicle is parked or when charging an electric vehicle, it said, reports <keyword id="197034" type="General" weightage="50" keywordseo="yonhap" source="Orion">Yonhap</keyword> news agency. Hyundai Mobis aims to obtain orders for the rollable display, which was partly adopted in smartphones and TVs, from luxury carmakers in North America and Europe. "We are looking forward to becoming a game changer in the automotive display market with our differentiated technology. We will pioneer the global market by driving the trend of new infotainment technologies," Han Young-hoon, vice president in charge of the Electronics Convenience and Control (EC) division at Hyundai Mobis, said. Display technology for in-car entertainment has emerged as a new growth driver in the in-vehicle infotainment market. The existing liquid crystal displays (LCDs) are quickly replaced by bigger-sized plastic organic light emitting diodes (OLEDs) of 20 inches and larger. That is why Hyundai Mobis has focused on developing the rollable display in the past two years. Hyundai Mobis is a core affiliate of Hyundai Motor Group, which also has Hyundai Motor Co. and Kia Corp. under its wing. Hyundai Motor and Kia together form the world's third-largest carmaker by sales after <keyword id="67309" type="General" weightage="50" keywordseo="toyota-motor" source="Orion">Toyota Motor</keyword> and <keyword id="166267" type="General" weightage="50" keywordseo="volkswagen-group" source="Orion">Volkswagen Group</keyword>. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/ai-generated-images-and-videos-a-game-changer-or-a-threat-to-authenticity/articleshow/99560443.cms">AI-generated images and videos: A game-changer or a threat to authenticity?</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/check-out-countries-list-with-the-highest-and-lowest-probability-for-recession/slidelist/99560624.cms">India has zero probability of recession in 2023 – Here’s how other countries fare</a>

Hyundai Mobis develops world's 1st rollable vehicle display

Bengaluru, July 15 (IANS) SoftBank-backed InMobi on Wednesday announced the appointment of Jayesh Ullattil as Vice President and General Manager for India. Prior to joining InMobi, Ullattil was Vice-President of Sales in Hotstar and instrumental in building strategic partnerships with leading telecom, original equipment manufacturers, consumer durables and media brands. In his two decades of industry experience, Ullattil has worked with leading consumer brands that include Perfetti Van Melle, Nokia, Henkel, Blackberry and more recently, BCCL and Hotstar. In his new role, Ullattil will be responsible for growing the mobile advertising and marketing business for InMobi across its portfolio of products, including programmatic and performance businesses, and data and online research platforms. "We are glad to welcome Jayesh onboard the InMobi leadership team in Asia Pacific. These are crucial times for brands and marketers across the globe who are looking to transform their business and marketing digitally," Vasuta Agarwal, Managing Director, Asia Pacific, InMobi, said in a statement. "Under Jayesh's leadership, InMobi will continue to enable marketers and advertisers in India as they increasingly rely on and invest in mobile to drive real connections with their consumers." Ullattil will be a part of the Asia Pacific leadership team and will be based out of Bengaluru, InMobi said. "India is one of the most exciting and fastest-growing mobile markets across the globe and this is an opportunity to have an immediate and large impact on the future of the adtech industry. I am looking forward to expanding the business and growing market share and mindshare for InMobi in India," Ullattil said on his appointment. --IANS gb/na

InMobi appoints Jayesh Ullattil as GM for India

The mobile advertising firm <keyword id="164941" type="COMPANY" weightage="100" keywordseo="inMobi">InMobi</keyword>, which is backed by SoftBank, will have to pay $950,000 in civil penalties and implement a comprehensive privacy program so that it can settle the case that federal trade commission has put up against it. As per FCT, it deceptively tracked locations of "hundreds of millions of consumers - including children - without their knowledge or consent" so that it could serve geo-targeted advertising. 
 
As per <a href="http://economictimes.indiatimes.com/small-biz/startups/inmobi-to-pay-950000-fine-to-settle-ftc-charges-for-tracking-location-of-consumers-without-consent/articleshow/52878938.cms">ETtech</a>, a statement by FTC noted that as per the settlement, InMobi is subject to a $4 million penalty; however, the agency suspended the fine to $950,000 because of its financial condition. 
 
As per the complaint, InMobi was tracking consumers' location without asking for their consent and even when consumers had actually denied it the permission. 
 
"InMobi created a database built on information collected from consumers who allowed the company access to their geo-location information, combining that data with the wireless networks they were near to document the physical location of wireless networks themselves. InMobi then would use that database to infer the physical location of consumers based on the networks they were near, even when consumers had turned off location collection on their device." FTC said in a statement. 
 
The agency added that InMobi's software also tracked location in thousands of apps "that were clearly directed at children, in spite of promising that it did not do so". While doing this, it also violated the Children's Online Privacy Protection Act (COPPA). 
 
In addition to the fine, InMobi is also directed to set up a comprehensive privacy program that will be independently audited every two years for coming two decades. 
 
InMobi, on the other hand, has said that it discovered technical error at its end that led to this. It also said that it promptly notified the FTC about this on discovering it, making it clear that this was not deliberate. 
 
<a href="http://media.al.com/news_birmingham_impact/photo/money-gaveljpg-3872f09e1069ce80.jpg">Image source</a>

InMobi fined $950,000 for tracking consumer location without consent

<ul><li><keyword id="164941" type="COMPANY" weightage="20" keywordseo="inMobi">InMobi</keyword>’s latest offering – <keyword id="184851" type="ORGANIZATION" weightage="20" keywordseo="glance">Glance</keyword> – raised $45 million from <keyword id="8083508" type="UNKNOWN" weightage="20" keywordseo="Mithril-Capital">Mithril Capital</keyword>, which was found by <keyword id="380555" type="PERSON" weightage="20" keywordseo="Peter-Thiel">Peter Thiel</keyword> and Ajay Royan.</li><li>InMobi’s Glance claims to be India’s first ‘screen zero’ platform through which it shows content to users on the lock screen of their smartphones. </li><li>It has 50 million daily active users currently.</li></ul>Indian unicorn InMobi’s AI-powered content platform Glance raised $45 million from Mithril Capital – the investment firm founded by legendary investor Peter Thiel and Ajay Royan. Glance boasts of being India’s first ‘screen zero’ platform through which it shows content to users on the lock screen of their smartphones. The platform claims to have more than 50 million active users daily, who spend 22 minutes per day on it. “Glance is changing the landscape of content consumption to address the demands of the ‘attention economy’ we currently live in,” said Naveen Tewari, Founder &amp; CEO, InMobi Group. Tewari further said that the investment from Mithril will help them expand to new geographies and bring in innovation in content-format, personalization and content discovery. Glance is currently available in English, Hindi, Tamil and Telugu in India, and Bahasa in Indonesia. However, this first investment round of Glance is part of a bigger financing round. InMobi, which was founded in 2007, is one of the leaders in the adtech space and was India’s first unicorn, which is valued at over $1 billion.

Peter Thiel’s investment firm backs Indian unicorn InMobi’s AI content platform

<div class="KonaFilter image-container display-table center"><div><div class="image on-image">Showtime"Twin Peaks."</div></div></div>The <a href="https://www.facebook.com/TwinPeaksTV/photos/a.314063775291274.81638.168042789893374/1142642569100053/?type=3&amp;theater">cast list</a> for the upcoming season of "Twin Peaks" was announced in April. It's 217 names long, but it's missing one of director David Lynch's longtime friends: Moby.In his upcoming memoir, <a href="http://www.amazon.com/Porcelain-Memoir-Moby/dp/1594206422?ie=UTF8&amp;keywords=porclain%20moby&amp;qid=1463607036&amp;ref_=sr_1_sc_1&amp;sr=8-1-spell">"Porcelain,"</a> Moby mentions how much he loves "Twin Peaks." In an interview with INSIDER, he dropped a little-known factoid: he signed a non-disclosure agreement that makes him unable to say whether or not he's involved with the show's new season."I signed an NDA... I'll get fined $100,000," Moby said. "If I am involved, it's a small contribution."The very fact that he signed a non-disclosure agreement indicates that he is involved with the project.Some fans believe that Trent Reznor might be working on the soundtrack, as the musician is a cast member, and his atmospheric, moody style would make a good fit. He's also written soundtracks for high-profile movies like "The Social Network."However, Moby's involvement with the show could indicate that he, in fact, is working on the music.Moby and Lynch have a history of artistic collaboration. In "Porcelain," Moby also talks about how "Twin Peaks" inspired his first hit single, "Go." He says he was watching the show and struggling with the song, and then tried integrating parts of its soundtrack into "Go." He ended up with <a href="https://www.youtube.com/watch?v=R3CQ-UeXgYg">"Go (Woodtick mix),"</a> which became a top-10 single in the UK. Years later, Moby and Lynch became friends, and Lynch directed <a href="https://www.youtube.com/watch?v=Q7zQlsLgYhg">the music video for Moby's 2009 single "Shot in the Back of the Head."</a> In 2014, Moby returned the favor by <a href="http://www.rollingstone.com/music/videos/moby-directs-creepy-video-for-david-lynch-reversion-20140428">remixing and directing the music video</a> for Lynch's song "The Big Dream."<a href="https://www.youtube.com/watch?v=Q7zQlsLgYhg"> </a> <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/the-mountain-from-game-of-thrones-took-a-break-runs-with-his-dog-2016-5">The Mountain from 'Game of Thrones' took a break from his intense workouts to run with his tiny dog</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="oweWJrMzE6HEpJhruI10EdkxngdEv4z7" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

Moby might be involved with the next season of 'Twin Peaks'

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div></div></div>India based mobile ad network InMobi has dismissed reports that <a href="http://uk.businessinsider.com/r-google-in-initial-talks-to-buy-indian-startup-inmobi-source--2015-3">Google is lining up a $1 billion bid to acquire the company.</a>In an email sent to employees, <a href="http://timesofindia.indiatimes.com/tech/tech-news/InMobi-is-not-for-sale-CEO/articleshow/46534144.cms?">reported by The Times of India</a>, InMobi CEO Naveen Tewari said he wanted the company to stay independent.It read: "We are building an amazing company and the market space is very huge. Given the level of innovation and disruption we are about to cause, there is no reason to sell."The email ended with the line: "If you like the fact that we are not selling, let me hear a big round of applause from the floor."The office erupted into applause, The Times of India reports. Business Insider has contacted InMobi for comment.Sources with direct knowledge of the situation had told Business Insider on Wednesday that the deal was off the cards too (although they did confirm that talks had taken place). But the rumored acquisition was the talk of the ad industry earlier this week. We caught up with a bunch of ad tech executives to get their thoughts on the situation.InMobi is the largest independent mobile <keyword id="35666" type="COMPANY" weightage="100" keywordseo="advertising">advertising</keyword> player outside of Google and Facebook. The company has more than 900 employees and <a href="http://www.businessinsider.com/hottest-pre-ipo-adtech-startups-2014-3?op=1">Business Insider has previously estimated its revenues at $372 million.</a> The company turned profitable in the fourth quarter,<a href="http://bits.blogs.nytimes.com/2015/03/11/inmobi-plans-to-stay-independent-dismissing-rumors-of-talks-with-google/?_r=0"> according to The New York Times</a>. InMobi claims, in a press release sent to Business Insider last year, that its network reaches 872 million active users, spanning over 200 countries.Of all the adtech executives we spoke to about the potential deal, the intention from Google was clear: It wants to make a land grab in the mobile space, having lost ground since its $750 million AdMob acquisition in 2009.Ario Paparo, CEO of adtech startup Beeswax, told us: "I think there are a couple of factors at work. First, after a very fast start in mobile ads with the AdMob acquisition, Google has lagged significantly behind Facebook and Twitter's MoPub unit of late in attracting developers to AdSense and AdX as their monetization vehicles. Mobile developers are choosing various other SDKs to include in their apps and it takes quite a bit of effort to stay on top."<h3>A Google acquisition of InMobi "is not perfect"</h3><div class="KonaFilter image-container display-table float_left"><div><div class="image on-image"></div></div></div>Marco Bertozzi, president for global clients at Publicis Groupe's adtech arm Vivaki concurred. InMobi would give Google a chance to scale up - particularly in regions such as India and Asia where InMobi is strongest - providing advertisers with more reach and data.He added: "My personal opinion is Google wants to jump forward as fast as it can and regain some ground, although not perfect, it will achieve some of those objectives quickly. It is a scale play, Google knows that sometimes this kind of purchase is needed, the idea of building and creating a network is pretty labor intensive as well."The fact that the InMobi purchase "is not perfect" in terms of answering Google's mobile advertising scale challenge was repeated among the adtech execs we spoke to. While everyone we spoke to agreed Google needs to make this kind of acquisition, many found it difficult answering the question: Why InMobi?One senior agency source who asked not to be named questioned why Google would look to buy a company of 900 people, mostly sellers and engineers, when Google has plenty of talented sellers and engineers itself - arguably the best in the business. He also questioned whether InMobi has enough bespoke, patented technology to make a $1 billion deal worthwhile, although he concluded that the appeal may be in the relationships the ad network has with partners and telecoms operators in India - the next burgeoning market for smartphone growth. <h3>"It will be interesting to see what the FTC has to say about this land grab"</h3>An InMobi acquisition would also be a regulatory challenge for Google, according to ChoiceStream's VP of marketing Bill Guild.He told us: "Unlike the acquisition of AdMob which brought Google squarely into the mobile space, this seems like a simple land grab. Based on the scrutiny that the FTC paid to AdMob and the fact that Google today is a much bigger force in the mobile space than it was then, it will be interesting to see what the FTC has to say about this land grab. Even though InMobi doesn't bring new technology or expertise to Google, the price might be worth it to gain a dominant position in world-wide mobile advertising."With a Google acquisition off the table, InMobi is staying independent for now. Tewari has long-hinted that the company is preparing for an IPO, although that may be some time away as the company has struggled to raise interest from investors beyond Japanese internet company SoftBank. <a href="http://www.nextbigwhat.com/softbank-write-down-inmobi-investment-297/">And in 2014, SoftBank wrote down all or a major part of its 2011 $200 million investment in InMobi,</a> according to Next Big What, which did not uncover a reason for the writedown but suggested it could be related to taxation. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/police-car-chase-weed-toss-marijuana-pot-arizona-2015-3">Incredible dash-cam video of a car chase shows suspects tossing bales of weed out the window</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="xvZnJ2czo4we8mdgZESZ2DxeaFMmxz9w" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

InMobi dismisses the rumor it is being bought by Google: 'There is no reason to sell'

<ul><li><keyword id="6358577" type="UNKNOWN" weightage="20" keywordseo="digital-payments">Digital payments</keyword> platform <keyword id="143842" type="COMPANY" weightage="20" keywordseo="Mobikwik">MobiKwik</keyword> has partnered with DT One to enable <keyword id="7772478" type="UNKNOWN" weightage="20" keywordseo="international-mobile-recharge">international mobile recharge</keyword>. </li><li>The feature will be available across 150 countries. </li><li>MobiKwik has over 107 million users in India.</li></ul>Indian digital payments platform MobiKwik partnered with DT One, a global B2B network for <keyword id="502942" type="PERSON" weightage="20" keywordseo="mobile-recharge">mobile recharge</keyword>. Its users will now be able to recharge their phones in 150 countries. The international recharge feature is live in countries in the Middle East, Asia Pacific, Europe, Africa, United States, Latin America and Carribean; across over 550 operators. “This new feature will enable millions - immigrants in India from across the globe, students studying abroad and even frequent travellers - the power of connectivity at their fingertips. This launch is in line with our growth and expansion plans in the domestic as well as international markets and making most of the services available on a single platform,” said Upasana Taku, Co-founder, MobiKwik. MobiKwik’s competitor in India, <keyword id="6357120" type="DEFINITION" weightage="20" keywordseo="paytm">Paytm</keyword> had already entered two international markets – Canada and Japan. In an earlier interview with Business Insider, Paytm founder Vijay Shekhar Sharma had said that it was also looking to enter the <a href="https://www.businessinsider.in/facing-jio-paytm-founder-vijay-shekhar-sharma-plans-a-ticket-to-us/articleshow/69053166.cms">US</a>. Meanwhile, the focus of MobiKwik’s new feature is to make the lives of immigrants simpler. “Nearly 5.2 million immigrants live in India, making it the twelfth-largest immigrant population in the world,” said data from the Pew Research Center. With MobiKwik’s new feature, they can now recharge for friends and family across the border while living in India. This feature will come to the aid of Indian students studying abroad. In 2018, as many as 752,725 of them study across 90 countries including the US, Australia, Canada, UK, UAE. MobiKwik has over 107 million users, along with 7,000 Indian businesses on board. In March 2019, it had announced that it has clocked an industry best success rate of over 93% for digital transactions. See Also: <a href="https://www.businessinsider.in/paytm-clocks-50-billion-through-5-5-billion-transactions/articleshow/69670592.cms">Paytm’s year in a review – Billions, profits and frauds</a>

MobiKwik marks its global foray, enables international recharge in 150 countries

<a href="http://www.businessinsider.in/searchresult.cms?query=InMobi&amp;sortorder=effectivedate">InMobi</a>, one of India's unicorns has been in the news recently for all the wrong reasons. 
 In a major setback, the <keyword id="564900" type="ORGANIZATION" weightage="60" keywordseo="Mobile-advertising">mobile advertising</keyword> startup was slapped with a $950,000 fine by a US regulatory body for tracking consumers’ locations without their consent. It has also been subject to scrutiny of late over funding, the exit of senior executives and talks of an initial public offering. 
 
All of this comes at a time when <a href="http://www.businessinsider.in/searchresult.cms?query=InMobi&amp;sortorder=effectivedate">InMobi</a> was reported to be struggling to chart out a sustainable business model that can adapt to the changes in the online and mobile advertising space. 
 
In an exclusive interview to Business Insider, <a href="http://www.businessinsider.in/searchresult.cms?query=InMobi&amp;sortorder=effectivedate">InMobi</a> Founder-CEO <a href="http://www.businessinsider.in/searchresult.cms?query=Naveen+Tewari&amp;sortorder=effectivedate">Naveen Tewari</a> clears the air around what’s been going internally. 
 
How difficult is it gain market-share in a world dominated by tech's big daddies <keyword id="6355629" type="CITY" weightage="80" keywordseo="Google">Google</keyword> and Facebook? 
Those are big companies with big market share. Companies like <a href="http://www.businessinsider.in/searchresult.cms?query=InMobi&amp;sortorder=effectivedate">InMobi</a> are the only ones that can take market-share away from <a href="http://www.businessinsider.in/searchresult.cms?query=Google&amp;sortorder=effectivedate">Google</a> and <a href="http://www.businessinsider.in/searchresult.cms?query=Facebook&amp;sortorder=effectivedate">Facebook</a>. Every one of our customers is willing to look beyond conventional platforms, and have a third pillar. They won’t consider us if we are not technologically at par, if not more advanced than those guys. 
 Over the next 12-18 months, I see <keyword id="164941" type="COMPANY" weightage="60" keywordseo="inMobi">InMobi</keyword> emerging as the third biggest marketing platform globally. 
 
What about the exit of senior executives? 
We’re extremely clear about where we’re headed. That’s why our attrition is extremely low. 
 
We offer new opportunities to young talent. I don’t consider my competition to be companies, but entrepreneurship. Entrepreneurship is the freedom to take your own decisions, and that’s what we offer. 
 
We have had 44 startups come out of <a href="http://www.businessinsider.in/searchresult.cms?query=InMobi&amp;sortorder=effectivedate">InMobi</a>, and 25 odd people have joined us back. No one does that if they aren’t sure of the company and its culture. 
 
You’ve spoken about the lack of product talent in India. 
That was 7-8 years back. Currently we don’t have issues in hiring or retaining talent. 
 
In fact, we don’t subscribe to flying people in to solve internal problems. That’s the wrong model. They come in with an inflated sense of how India works. That comes from a position of what it’s like in <a href="http://www.businessinsider.in/searchresult.cms?query=Silicon+Valley&amp;sortorder=effectivedate">Silicon Valley</a>. 
 
You have seen the lack of feasibility of that model pan out in every company that tried it. Every one of those people left in a year. That’s why our leadership is essentially home-grown. 
 
Are you looking to raise more money, and are you struggling? 
The second one is easy. The answer is no. We don’t need further capital. We’re pretty well set in terms of our financials. 
 
There’s a practical answer to the first question. Our corpus team explores strategic partnerships all the time. It’s their job. Some of these have investments linked to it. These are done once every 2-3 years. Before deciding on one, you need to explore 50 more opportunities. People should not confuse the role of looking for these partnerships actively with anything else. 
 
Our business works on a 40% gross margin and that too at a very large scale. 
 
Nine years on, InMobi is looking to be profitable this fiscal. What will contribute most to fuel further growth? 
From a market perspective, the two major markets will be US and China. From a client perspective, performance advertising will clearly lead the way. It’s been a big factor, and will continue to remain a significant one. Commerce advertising is also set to explode as commerce companies do well. 
 
Video is not a big driver till date. However, it’s starting to take off. 
 
Where does India figure in terms of market size? 
India has a smaller share in <a href="http://www.businessinsider.in/searchresult.cms?query=InMobi&amp;sortorder=effectivedate">InMobi</a>’s business today. It’s a strategic opportunity we’re invested in, just like we did for China 4 years ago. We were positive of China’s growth, and we are currently market leaders there in the <a href="http://www.businessinsider.in/searchresult.cms?query=digital+advertising&amp;sortorder=effectivedate">digital advertising</a> space. 
 
Given India is only 2-3 years behind China, it’s a market with massive strategic opportunities for us. <a href="http://www.businessinsider.in/searchresult.cms?query=Mobile+advertising&amp;sortorder=effectivedate">Mobile advertising</a>’s share in India has been low. We think starting next year, that’ll change drastically and grow 50-60% YoY. 
 
You reportedly downed shutters on the animated-discovery commerce part of Miip. Why’s that? 
We haven’t closed down anything. It’s only a trajectory to get to that position. Honestly, that was always a part of that trajectory. 
 
<a href="http://www.inmobi.com/ui/uploads/blog/Naveen-Tewari_InMobi.jpg">Image Source</a>

Exclusive: “InMobi emerging as third biggest marketing platform globally”: InMobi Founder-CEO Naveen
Tewari

<ul class="summary-list"><li>A 10-year-old boy was seriously injured after he was thrown off a carnival ride in Illinois. </li><li>The Moby Dick carnival ride tosses people up and down, while rotating in a circular motion.</li></ul>A 10-year-old boy was left seriously injured after he was flung off a Moby Dick carnival ride in Antioch, Illinois, on Sunday."At 2:40 p.m. yesterday, July 16, 2023, Antioch Police and Fire emergency crews were dispatched to the Taste of Summer carnival for a child who fell from the Moby Dick ride," the Village of Antioch Police Department said in a <a href="https://www.facebook.com/permalink.php?story_fbid=pfbid025KAiTy6ThyVhTiZtUMxGWMz8DoyBXxUYSFsy4cvSuHjHUjRxqifcHsRq6zuEH2s7l&amp;id=100064307874435" target="_blank" rel="noopener">press release</a> on Monday. The carnival is an annual event that is organized by the <a href="https://www.antiochchamber.org/pages/taste-of-summer" target="_blank" rel="noopener">Antioch Chamber of Commerce</a>. The press release said that the 10-year-old boy was "seriously injured" and had to be airlifted to two different hospitals due to the "extent of his injuries.""The child, a 10-year-old boy, suffered multiple facial and jaw fractures and a significant injury to the bones in one leg. According to what the police department has learned, he suffered no life-threatening injuries," the press release read.A boy named Elliot Johnson, who also rode the Moby Dick, told <a href="https://www.nbcchicago.com/news/local/antioch-illinois-carnival-boy-injured-moby-dick-carnival-ride/3188246/" target="_blank" rel="noopener">NBC Chicago</a> that the ride's safety bar was loose when he got on it."My bar was coming up over my head. Every time I went up, because it was going up, I was almost about to fall out, I would slam down to close it," Johnson said. The "Moby Dick" is a type of ride known as a <a href="https://www.sheffield.ac.uk/nfca/researchandarticles/miami" target="_blank" rel="noopener">Miami</a>. Miami rides rotate a row of seated passengers up and down, in a wide circular motion. Videos of people on the <a href="https://www.youtube.com/watch?v=1ywh5MVrznw" target="_blank" rel="noopener">Moby</a> <a href="https://www.youtube.com/watch?v=CK7Cm4thHPY" target="_blank" rel="noopener">Dick</a> ride can be found on YouTube. "The high-profile scenery rises a full 31 feet in the air, to stand out on every midway," according to <a href="https://wisdomrides.com/equipment/view/27" target="_blank" rel="noopener">Wisdom Rides'</a> listing for the Moby Dick ride. Antioch Mayor Scott Gartner has "issued an executive order to halt all rides to ensure the safety of the community," per Monday's press release. The Illinois labor department plans to investigate the incident to find out if the child was hurt because of a mechanical failure, operation error, or a combination of the two, per the news release. Representatives for the Village of Antioch, the Antioch Chamber of Commerce, and Wisdom Rides did not immediately respond to a request for comment from Insider sent outside regular business hours.

A 10-year-old boy was seriously injured after he got flung off the Moby Dick, a carnival ride that tosses people up and down to mimic riding a whale

Two of India’s biggest <a href="http://www.businessinsider.in/searchresult.cms?query=mobile+wallet&amp;sortorder=effectivedate">mobile wallet</a> companies have been throwing punches against each other on their respective blogs. It was <a href="http://www.businessinsider.in/searchresult.cms?query=MobiKwik&amp;sortorder=effectivedate">MobiKwik</a> vs. <a href="http://www.businessinsider.in/searchresult.cms?query=Snapdeal&amp;sortorder=effectivedate">Snapdeal</a>-owned <a href="http://www.businessinsider.in/searchresult.cms?query=FreeCharge&amp;sortorder=effectivedate">FreeCharge</a> last Wednesday. 
 
It all started when <a href="http://www.businessinsider.in/searchresult.cms?query=MobiKwik&amp;sortorder=effectivedate">MobiKwik</a> raised a stinker with the latest Nielsen Informate Mobile Insights Report concerning <a href="http://www.businessinsider.in/searchresult.cms?query=mobile+wallet&amp;sortorder=effectivedate">mobile wallets</a> in India. The report places <a href="http://www.businessinsider.in/searchresult.cms?query=Paytm&amp;sortorder=effectivedate">Paytm</a> as the most popular wallet in India, followed by <a href="http://www.businessinsider.in/searchresult.cms?query=FreeCharge&amp;sortorder=effectivedate">FreeCharge</a> and <a href="http://www.businessinsider.in/searchresult.cms?query=MobiKwik&amp;sortorder=effectivedate">MobiKwik</a>. 
 
In a blog post titled ‘<a href="https://blog.mobikwik.com/index.php/the-truth-behind-nielsen-mobile-insights/">the truth behind Nielsen Mobile Insights</a>’, Akash Gupta, the GM Marketing at <a href="http://www.businessinsider.in/searchresult.cms?query=MobiKwik&amp;sortorder=effectivedate">MobiKwik</a> expressed his wrath against research firm Nielson, and how ‘they mock the ecosystem.’ 
 “We reached out to Nielsen to seek clarification. They said it was meant for internal use, but <keyword id="6377963" type="UNKNOWN" weightage="60" keywordseo="Freecharge">FreeCharge</keyword> and <keyword id="541988" type="COMPANY" weightage="100" keywordseo="SnapDeal">Snapdeal</keyword> were touting it for press and to aid their pending fund-raise”, <a href="http://www.businessinsider.in/searchresult.cms?query=MobiKwik&amp;sortorder=effectivedate">MobiKwik</a> co-founder <a href="http://www.businessinsider.in/searchresult.cms?query=Upasana+Taku&amp;sortorder=effectivedate">Upasana Taku</a> told Business Insider. 
 
“It really pisses you off if somebody has actually not done the work but go around telling the world they are number #2. They also used it heavily in China where they are trying to raise funds from”, Taku added. 
 
<a href="http://www.businessinsider.in/searchresult.cms?query=MobiKwik&amp;sortorder=effectivedate">MobiKwik</a> also posted screenshots of e-mails from Nielsen. 
 
 
<a href="http://www.businessinsider.in/searchresult.cms?query=FreeCharge&amp;sortorder=effectivedate">FreeCharge</a> shot back with a stinging post, titled ‘<a href="https://blog.freecharge.in/2016/06/15/dont-shoot-the-messenger-when-the-message-stings/">Don’t shoot the messenger when the message stings!</a>’ 
 
<keyword id="143842" type="UNKNOWN" weightage="40" keywordseo="Mobikwik">MobiKwik</keyword>’s Allegations: 
· It was a paid research 
· ‘How can a SAMPLE SIZE OF 6000 be even statistically relevant!’ · A <keyword id="490792" type="UNKNOWN" weightage="80" keywordseo="Mobile-wallet">mobile wallet</keyword> is not just a recharge app 
 
FreeCharge’s Defense: 
· It was a syndicated report 
· ‘very robust sample size by any standard’ 
· FreeCharge Wallet app officially launched in September 
 
In a very short time, the size of India’s mobile wallet market has grown significantly. According to a study by research firm RNCOS, the Indian market size for mobile wallet is estimated to rise to Rs. 1,210 crores by 2019. 
 
Payments are turning out to be crucial for India’s <a href="http://www.businessinsider.in/searchresult.cms?query=e-commerce&amp;sortorder=effectivedate">e-commerce</a> ecosystem. <keyword id="6354742" type="COMPANY" weightage="60" keywordseo="Flipkart">Flipkart</keyword> is planning to invest Rs 670 crores to build its payments business, while <a href="http://www.businessinsider.in/searchresult.cms?query=Search&amp;sortorder=effectivedate">Paytm</a> is pouring millions into its own. Last year, <a href="http://www.businessinsider.in/searchresult.cms?query=Snapdeal&amp;sortorder=effectivedate">Snapdeal</a> acquired <a href="http://www.businessinsider.in/searchresult.cms?query=FreeCharge&amp;sortorder=effectivedate">FreeCharge</a> for $450 million and has not looked back ever since. 
 
This isn't the first time India's startups have had a verbal spat online. Hopefully, it's the last. 
 
<a href="http://2.bp.blogspot.com/-o6jmPIDBE80/VMM6sM5e_PI/AAAAAAAAhjg/9iRZFIxDBk0/s1600/a.png">Image Source</a>

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