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New Delhi, <keyword id="6358096" type="General" weightage="20" keywordseo="Snapchat" source="Orion">Snapchat</keyword> owner Snap Inc on Wednesday said it has appointed former <keyword id="18509163" type="General" weightage="20" keywordseo="Google-Pay-director" source="Orion">Google Pay director</keyword> <keyword id="3947206" type="General" weightage="20" keywordseo="Pulkit-Trivedi" source="Orion">Pulkit Trivedi</keyword> as its India Managing Director. He will report to Snap's Asia Pacific President Ajit Mohan. "Pulkit's deep expertise in building and scaling businesses and finding ways to drive outsized growth for partners will enable us to continue delighting our surging community of over 200 million Snapchatters in India," Mohan said. <keyword id="729" type="General" weightage="100" keywordseo="trivedi" source="Orion">Trivedi</keyword> joined Snap from Google where he has spent the past five years as the Director of <keyword id="2750705" type="General" weightage="20" keywordseo="Google-Pay" source="Orion">Google Pay</keyword> - India Business Team. As part of the leadership team, Trivedi was responsible for building strategic plans for the business, forging key partnerships, and leading the monetisation agenda for Google Pay in India. In his new role, Trivedi will be responsible for leading the organisation's Indian operations, including driving revenue, supporting partners, and nurturing the creator ecosystem. Under a new operational structure, the growth, market development, partnerships, content and creator ecosystem teams will now report directly to Trivedi. "Unifying our local teams under this new structure will set the right stage for making accelerated investments in India and enable us to further fuel the growth of our community and partners," Mohan said. Trivedi has over 23 years of experience in top technology companies, including leadership roles at Meta and Google in India. "Snap has a reputation for being a true innovator and has built a thriving community in India with a product that has connected with so many young Indians. India is one of the world's fastest-growing internet economies giving Snap an exceptional opportunity to actively contribute to the expansion of our community and businesses," Trivedi said. In May, Snap announced the milestone of over 200 million monthly active Snapchatters in India with more than 120 million Indian Snapchatters watching content across Stories and Spotlight, the fourth and fifth tabs of the app.

Snap ropes in former Google Pay director Pulkit Trivedi as India MD

<ul class="summary-list"><li>"The Beanie Bubble," streaming now on AppleTV+, tells the story of the rise and fall of Beanie Babies.</li><li>Geraldine Viswanathan plays a fictionalized version of Lina Trivedi.</li></ul>In "<a href="https://www.insider.com/the-beanie-bubble-movie-fact-check-2023-7">The Beanie Bubble</a>," now streaming on AppleTV+, Maya (Geraldine Viswanathan) reads a poem for Stripes, a tiger Beanie Baby. While it's not the real verse, Stripes' poem was the first of dozens of Beanie Baby poems written by the real Maya: Lina Trivedi. Trivedi, Ty Inc.'s 12th employee, came up with the idea to include birth dates and rhymes in every Beanie Baby hangtag."I was looking at the tag and how it said 'To:' and 'From:' I was just thinking nobody uses that. Nobody actually gives a Beanie Baby to someone and writes their name on it," Trivedi, now 50, told Insider via phone. "How do we use that space to build some type of connection with people and tie it into content that we can have on our webpage that people will want to come look at and get excited about?"After a pitch to CEO Ty Warner, she made a mock-up in Photoshop, writing Stripes' poem "within a couple minutes." Warner tasked her with writing more than 80 Beanie Baby poems in 24 hours. Based on <a href="https://affiliate.insider.com?amazonTrackingID=biauto-60295-20&amp;h=6d8a46e20ebdb8a077ed098c2187945b6bde936685acb702f90c9db486c75d9c&amp;postID=64c7fbfcfa4d08025227ae58&amp;site=in&amp;u=https%3A%2F%2Fwww.amazon.com%2FGreat-Beanie-Baby-Bubble-Delusion-ebook%2Fdp%2FB00INIXVPW%2Fref%3Dtmm_kin_swatch_0%3F_encoding%3DUTF8%26qid%3D%26sr%3D">Zac Bissonnette's 2015 bestselling book</a>, "The Beanie Bubble" follows the story of the rise and fall of Beanie Babies with a focus on three women who were close to Warner and instrumental in the company's success. Viswanathan plays a fictionalized version of Trivedi who really <a href="https://www.insider.com/the-beanie-bubble-movie-fact-check-2023-7#trivedi-really-pitched-the-idea-for-the-tycom-website-but-she-wasnt-its-sole-creator-7">built and ran the company's website</a> with her brother and wrote an estimated 137 Beanie Baby poems, most of which were penned in three days, not one."I was always nervous that my role was going to be played by someone that doesn't necessarily reflect who I am," a relieved Trivedi, who identifies as Indian American, said of Viswanathan's casting."I was like, 'It's gonna be a white male college kid playing my role," Trivedi said. "That's gonna be so terrible. I'm gonna feel so slighted. Not just for myself, but for women in technology."<h2>While the film gets many things right, others are embellished for the screen</h2><div type="image" title="Maya in &quot;The Beanie Bubble.&quot;" height="1174" width="2781" msid="102368088" hostid="261"></div>Before the pandemic, Trivedi spoke with a production company that indicated they were working on the adaptation to answer questions about Ty.com crashing on New Year's Eve and to later correct any inaccuracies from Bissonnette's book based on her daughter in the event she was mentioned in the film. The film still took some liberties.Trivedi was hired at Ty Inc. <a href="https://www.insider.com/the-beanie-bubble-movie-fact-check-2023-7#the-real-maya-lina-trivedi-didnt-join-ty-inc-when-she-was-17-but-she-did-have-to-groom-plush-toy-animals-4">at 19, not 17</a>, while studying sociology at DePaul University in Illinois. She <a href="https://www.insider.com/the-beanie-bubble-movie-fact-check-2023-7#unlike-maya-trivedi-didnt-have-a-cubicle-at-ty-inc-11">didn't have an office cubicle</a> and didn't suggest <a href="https://www.insider.com/the-beanie-bubble-movie-fact-check-2023-7#the-movie-suggests-it-was-mayas-idea-to-retire-beanie-babies-creating-a-supply-and-demand-thats-not-exactly-right-9">the idea to retire Beanie Babies</a>. She estimated starting at $10 an hour and getting paid $12.50 an hour by the time she left Ty Inc. at the end of 1997. The film claims she made <a href="https://www.insider.com/the-beanie-bubble-movie-fact-check-2023-7#trivedi-was-paid-1250-not-12-by-the-end-of-her-time-at-ty-inc-16">$12 an hour upon her departure</a>.<h2>Trivedi didn't really leave Ty Inc. to work for The Pokémon Company</h2><div type="image" title="Pokemon cards, including a Snorlax, are seen spread out in a hand." height="4016" width="6016" msid="102368089" hostid="261"></div>Trivedi laughed when she learned the movie's ending suggested she was swooped up by The Pokémon Company, saying her teenage daughter, a fan of the cards and games, would be thrilled by that detail. In reality, when Trivedi left Ty Inc., things weren't easy. A website development business she started with her brother didn't pan out. Bissonnette's book claims Trivedi went to jail for a string of felonies and potentially forged postal money orders. While Trivedi denies those claims, she acknowledged being in jail, explaining how it helped shape her."In the '90s, I was in jail for random things all the time," Trivedi said, specifically referencing underage drinking and a dispute with an officer. "I was a rebel against authority. If you give me a ticket and I walk away, I'm not going to court. That was my attitude back then.""The important thing to focus on is what I got out of it," Trivedi said of working for three years with a non-profit once she was out of jail, originally making the same money she was at Ty, Inc. "I was basically making jobs accessible to communities that didn't have access to jobs."Today, Trivedi's a single mom, living in Wisconsin. She wants to continue carving out a space for women in tech as the cofounder of an AI start-up, <a href="https://joii.ai/" target="_blank" rel="noopener nofollow">Joii.AI</a>.Currently working with a longtime friend on a program to tackle loneliness and social disconnection, their goal is to create an AI that users would "train to emulate their patterns and how they communicate and how they talk to one another for the purpose of connecting with the people they're closest to."<h2>Trivedi hasn't reached out to or heard from Ty Warner since leaving Ty Inc.</h2>"I know he's a very private person," Trivedi said of Warner, adding, "I don't even know how I would reach out to him. He's so private. It's not like he's on Instagram."When asked about Warner, who is played as a bit of an egotistical manchild in "The Beanie Bubble" by Zach Galifianakis, Trivedi described the Ty she knew as "quirky," "intelligent" and "a visionary."<div type="image" title="Ty Warner, creator of Beanie Babies toys, shakes hands in a rare appearance to celebrate the 10th anniversary of the Beanie Babies toy line at the American International Toy Fair February 16, 2003 at the Jacob K. Javits Convention Center in New York City." height="1919" width="3000" msid="102368090" hostid="261"></div>"I never saw the side of Ty that I sometimes hear from a lot of people of him being harsh or angry," Trivedi said. "He was always very appreciative for everything that I did. He was always very kind and courteous."Recently, Trivedi considered trying to reach out when she saw Ty Inc. released <a href="https://beaniepedia.com/beanies/beanie-babies/bones-ii-the-dog/" target="_blank" rel="noopener">30th-anniversary versions</a> of some older Beanie Babies, the poems still on her mind."I saw the inside of the tags, and I was like, 'They did that all wrong," Trivedi said with a laugh, suggesting they should've written fresh poems that provided updates on the characters.Trivedi almost felt compelled to write new poems to send to Ty Inc., but refrained.To this day, she keeps two Stripes Beanies, one of which sits in her car. The tiger shares her birthday, and its poem was written as a personal reflection. She had no idea the impact they may have one day."I had a 12-year-old boy that found out that I wrote the poems to Beanie Babies, and he told me thank you for making the world a better place," Trivedi said.

The real woman who came up with the poems for Beanie Babies talks Ty Warner and what 'The Beanie Bubble' got right and wrong about her life

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">Shasta VenturesNikhil Basu Trivedi</div></div></div>Nihkil Basu Trivedi got his start as an entrepreneur early: in 2009, during his sophomore year at Princeton, he founded a startup called Artsy that helps art collectors find contemporary works. Artsy is still going strong today with over 100 employees.He joined Shasta Ventures in 2012, where he focuses on consumer tech startups, plus education, health care, and other areas of interest. We talked to Basu Trivedi - that's his full last name - for our feature on <a href="http://www.businessinsider.com/what-happens-when-tech-boom-turns-to-bust-2016-5">what happens now</a> that Silicon Valley has moved out of its latest easy-money boom cycle. Here's a lightly edited version of our conversation:Business Insider: Describe what's going on right now in Silicon Valley. Is there a big change afoot?Basu Trivedi: The venture community has realized that a number of companies were funded at valuations that were far ahead of their fundamental progress as businesses, and that some of those companies are not actually that great fundamental businesses ... The ones that are not great might ultimately be zeros, so a bunch of people are going to lose a lot of money. The ones that actually might be great might still be able to survive as a result of that, but their last round valuation is a potential handicap to them being able to survive because they might need another round to survive.A number of companies will fail because they won't be able to raise a next round, they're just not great businesses, they're being outcompeted, they're losing money on every order.BI: What about raising a down round? Can't companies do that as a last-ditch effort to survive?Basu Trivedi: Sometimes the gap is so wide, and there are so many egos around the table, that just doesn't happen. Or instead of doing the brain damage associated with a down round and a total recap [recapitalization], they just sell the business.A lot of companies will survive because they scrapped together a round, and some of those rounds will be recaps. I've heard of companies already that have gone from valuations in the tens or hundreds of millions of dollars at the last round, to being in the single-digit millions pre.BI: Does it matter if you recap? What's so bad about it? Doesn't it give the company a chance to survive?Basu Trivedi: Often a recap is associated with a RIF [reduction in force], either pre the downround or concurrently with the downround. The business is not doing as well as it should be, it's not performed for whatever reason. There are often layoffs associated with it. The key, though - what everybody has in their minds when they do a down round or a recap - is how do we make sure that the people around the table after that are incentivized to go for it? There's often a new option pool created as well, so that's even more dilution to existing investors, all the preferences get reset.That phrase, brain damage, gets used over and over again when it comes to recap. You have to rally all troops to do it again.It's particularly tough on employees who have left the company, exercised their options, bought shares, and those are all - if they're not worthless, then you're way underwater on that.BI: Almost like starting over again?Basu Trivedi: Yes. And that's almost how investors evaluate it. If you do a total recap at 10 million-pre [a $10 million valuation, before the added money of the new round] do we think it has 10x potential at 10-pre? Or 20x potential at 10-pre?Say you've already as an investor put in 5 million bucks or 10 million bucks into a company, that's all gone anyway. That's sunk costs. The mentality of doing a downround recap is it's effectively a whole new investment. That's one way we've approached these kinds of decisions at Shasta, and I know how other firms have approached it. Pretend this is a brand new company....would we do it as a whole new investment?But there's also shiny brand new company that just came out of YC that's raising at that exact same valuation. So the decision becomes, do you recap this thing that's got maybe a bunch of customers, technology, legacy stuff built, but you're recapping the whole thing and there's all the brain damage associated with that, or instead do you make a brand new investment in the brand new shiny thing, that's been around for only 6 months and is growing nicely, at same price?BI: What about companies that sell mostly to other startups and their employees? Catering companies? Fancy bars? Real estate companies?Basu Trivedi: If you talk to the investors who were around as the last dot-com bust of 2000 happened, there were a ton of businesses back then that were selling to startups.<div class="KonaFilter image-container display-table"><div><div class="image on-image"><a href="http://www.businessinsider.com/author/daniel-goodman">Daniel Goodman / Business Insider</a>Free Kind bars have become a staple at a lot of Silicon Valley startups.</div></div></div>There are good businesses that have SMBs [small-to-mid-size businesses], startups as customers, that are recurring revenue businesses that are must haves for those companies. You can't just get rid of payroll system or your HR function to cut costs. Obviously if you die, you churn.We very much prioritize companies if they are selling into startups whether they're core, they're must-haves, they're daily habits and behaviors, versus things that might be just nice-to-haves.BI: Have you been involved with or heard of companies cutting costs, cutting the nice-to-haves?Basu Trivedi: I don't have a good top-of-mind example for you. My intuition suggests it's definitely happening...It's got to happen. There are so many companies that are burning over 500k a month, that means they're burning a million every two months. A million dollars is a lot of money.BI: Where do you cut? How do founders make those decisions? Basu Trivedi: The more impactful decisions if you look at burn are not food every day, they're people. So you start thinking about where do we trim? Where do we have fat in our organization, and the first to go is the trimming of the fat. Then in some cases, to make the business work, you have to go deeper into the muscle, and all the way close to the bone.Then it becomes prioritization, we look at engineering, and marketing, and customer success, and sales and all the different functions. Who are the strongest performers and not the strongest?Tons of companies have been putting together RIF plans in last 3 to 6 months. And a lot of those are first-time founders who have never done a RIF before, so there's a ton of inertia and worry if we make RIF and we're going to lose our growth engines. Because were going to cut these couple marketing people. Or we're going to cut engineering and that means our product's not going to get better at the pace it needs to get better. That's where the really tough discussions happen with the board.BI: When you look at potential investments, is there more scrutiny today?Basu Trivedi: Yes, there's more scrutiny today than there was 12 months ago around the fundamentals of the business.I think 12 months ago, I don't know if we invested in companies based on this, but we certainly took seriously some companies that we wouldn't take as seriously today. Because we were kind of worried about the unit economics 12 months ago, but maybe we felt like the consumer pain point was so huge, and the potential for it to grow explosively high, so we might have overlooked unit economics. Where today we are focused on the unit economics/gross margin question....Obviously, there's going to be less on-demand company investments. It's partly because of this unit economics question. It's also because people are looking at a company like Uber and Uber Eats and the things that it can do and realizing, man, when you have economies of scale, it's really hard to compete.BI: When will things recover? How will this play out?Basu Trivedi: Quoting our partner Doug Pepper - It's not like there are dark clouds. There's so much fundamental innovation that's going to happen in the next couple of years...Autonomous transportation, that has the potential to generate trillions of dollars of value across so many industries, also lead to a lot of lost value for incumbents that are going to be disrupted...A lot of interesting stuff around consumer finance, around health and medicine...What Doug said, "it's not as if there are dark clouds, it's just that the rainbows have gone away."<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">How things used to be.</div></div></div>BI: Any bright side to all this?Basu Trivedi: Hiring might become a little easier. If you have raised money then there's potentially less competition. It's more of a moat than it was. That's like a haves vs. have-nots situation. That's good for the haves.BI: Any good news for the have-nots?Basu Trivedi: If you look at it historically, the best time to start the next generational company has always been out of the ashes of correction.BI: How long will it go on?Basu Trivedi: I think we're going to be in this mode for next year and a half to two years. I don't see that changing because exits are not going to suddenly flood in. Everyone's being measured right now. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/designer-creates-spinning-animated-bloom-sculptures-2016-4">This math-based sculpture is hypnotizing when it spins</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="dqaHBiMDE6EkEGXu5bTKGq76CgF13gp5" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

Shasta Ventures partner on the 'brain damage' that happens when a startup's value crashes

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">Reuters/Henry RomeroDonald Trump and Mexico's President Enrique Pena Nieto arrive for a press conference at the Los Pinos residence in Mexico City.</div></div></div>The Mexican peso is now one of the cheapest currencies in the world, according to Kamakshya Trivedi, a strategist on Goldman Sach's Global Investment Research team. President Donald Trump gets most of the credit: Trump has repeatedly attacked Mexico for taking advantage of trade deals with the United States. He said the country was taking jobs from US workers as companies shifted their production south of the border.Trump singled out NAFTA as "the worst trade deal in the history of the country," and even went as far as saying he would <a href="https://www.whitehouse.gov/trade-deals-working-all-americans">withdraw the US from NAFTA</a> if our partners (Canada and Mexico) refuse to negotiate a "fair deal." The Trump team has previously threatened a 20% tax on imports from Mexico in order to help pay for the border wall that Trump has promised since the beginning of his campaign. As this happened, the peso found itself in the crosshairs of traders everywhere, tumbling about 20% from November 8 until Trump was sworn in on January 20. But since he officially took power, <a href="http://www.businessinsider.com/mexican-peso-price-since-trump-inauguration-february-1-2017-2017-2">the peso has </a>strengthened by about 7% against the dollar. It has plenty of room to go, according to Trivedi. In a note to clients sent out on Monday, Trivedi wrote that two separate models suggest it's about 25% below "fair value." Trivedi said the currency could strengthen to 19 pesos-per-dollar over the next 12 months. That's a gain of about 8%, a huge move for any currency. Even though Trump's hostility toward Mexico spurred the Peso's decline, the recovery might be welcomed by the White House because a stronger currency would make US-made goods more competitive against Mexico's exports. <div class="KonaFilter image-container display-table"><div><div class="image on-image"><a href="http://markets.businessinsider.com/currencies/USD-MXN">Markets Insider</a></div></div></div> <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/tech-finance-coinbase-buy-sell-trade-bitcoin-app-coinbase-2017-1">Here's how to use one of the many apps to buy and trade bitcoin</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="8xa3Z1ODE6jmPca8bIn4JsdTak2saJbY" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

Goldman Sachs has some good news for Trump about the Mexican peso

The <keyword id="14184962" type="General" weightage="20" keywordseo="Indian-currency-rupee" source="Orion">Indian currency rupee</keyword> breached the Rs 78 mark against the dollar for the first time ever on Monday, hitting a new lifetime low against the US dollar. The rupee closed Monday's trade at Rs 78.04 per US dollar, after depreciation as low as Rs 78.29 in intra-day deal. "There is no fresh trigger to predict if the rupee will be 79 or 80 unless and until there is a conflict between US and China with regards to Taiwan, other than that there shouldn't be any correction towards 77 or 77.50 in the spot," said <keyword id="105309" type="General" weightage="20" keywordseo="Emkay-Global-Financial-Services" source="Orion">Emkay Global Financial Services</keyword> in a note. The rupee might see more weakness ahead of the US monetary policy review meeting starting later this week, where the <keyword id="117388" type="General" weightage="80" keywordseo="us-fed" source="Orion">US Fed</keyword> is expected to hike rates and showcase a more aggressive action, said <keyword id="14184963" type="General" weightage="80" keywordseo="jigar-trivedi" source="Orion">Jigar Trivedi</keyword>, <keyword id="162421" type="General" weightage="80" keywordseo="research-analyst" source="Orion">Research Analyst</keyword>, Commodities &amp; Currencies Fundamental, Anand Rathi Shares &amp; Stock Brokers. However, runaway depreciation might not happen amid the central bank's intervention, Trivedi said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="http://www.businessinsider.in/stock-market/news/indian-equity-markets-wiped-out-127-billion-investor-wealth-in-just-two-days/articleshow/92181381.cms">Indian equity markets wiped out $127 billion investor wealth in just two days</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="http://www.businessinsider.in/tech/enterprise/news/simplilearn-is-looking-to-hire-800-people-including-160-freshers-this-year/articleshow/92181229.cms">Edtech startup Simplilearn bucks the trend — to hire 800 people this year</a>

Rupee breaches the ₹78 mark against the dollar for the first time ever

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">Entrepreneur FirstLingumi founders Toby Mather and Adit Trivedi.</div></div></div>This week, 25 startups pitched their businesses to some of Europe's biggest investors after completing Entrepreneur First's latest six-month company building programme.Venture capitalists from Google Ventures, Index Ventures, Balderton Capital, and LocalGlobe were in the 200-strong audience to try and spot the next big thing, as were a number of angel investors.The startups, built by carefully selected deeply technical founders, included everything from AI companies to robotics companies and drone companies.Investors told Business Insider that the calibre was high all round but it was a <a href="https://www.lingumi.com/" target="_blank">children's app called Lingumi</a> that appeared to be the talk of the town.Cofounded by Oxford languages graduate Toby Mather and UCL computer science graduate Adit Trivedi, Lingumi has built a platform that helps pre-school children to learn English in countries where English is not the first language. In its investor pitch, Lingumi highlights how pre-school children are the world's best language learners. Mather and Trivedi want to capitalise on this.The company's first product is a set of "Learning Cubes" that interact with a tablet or smartphone to teach sounds, words, and phrases.Speaking to Business Insider at the demo day, which Entrepreneur First cofounder Alice Bentinck believes to be the biggest in Europe now, CEO Mather said: "If you're a mum in China, you really want your kid to learn English. The current solutions are either to hire a tutor, which is very expensive and unaffordable for the massive majority, or to wait until they get primary school, where they'll start learning English at six from a teacher who almost certainly isn't native English speaking. So you're missing the best neurological stage to be learning English. We're fixing that."Trivedi, who left his internship at J.P. Morgan to build Lingumi, added: "There's no other company out there that I'd like to work for. What we can build is phenomenal. I want to potentially stay in this for 10, 20, 30, 40 years. I love what I do, I don't want to do anything else." <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/find-your-phone-google-locations-tech-android-2016-2">There's a super easy way to find your phone using Google search </a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="M1cWdhMTE6ilQ5izx7QibxtFFWyni9Yz" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

An Oxford grad and a JP Morgan intern are building a startup that helps pre-school children learn English

Mumbai, Jan 6 () App-based taxi service provider Prakriti E-Mobility on Monday said it has tied up with US-based Ridecell Inc as its technology partner in India for its all-electric cab service, Evera.
 The company also announced the launch of its app-based EV cab services across the national capital region (NCR).
 Ridecell Technology provides a comprehensive end-to-end mobility solution that allows Prakriti E-Mobility to quickly launch the fleet and streamline efficiencies through predictive analytics for fleet operations and maintenance, the company said.
 "We are excited to be working closely with Ridecell to bring a unique mobility service to India," Prakriti E-Mobility CEO and Co-founder Nimish Trivedi said.
 Ridecell's technology solution will equip Prakriti E-Mobility with a seamless, comprehensive and customisable platform, he said.
 The technology will also offer a complete shared mobility platform that includes a rider and driver app, a cloud-based operational dash board to control vehicle assignment, ride pricing and other critical service parameters, the company said.
 Co-founded by Nimish Trivedi, Vikas Bansal and Rajeev Tiwari, Prakriti E-Mobility provides app-based cab services with features such as zero surge charge and cancellation fee, among others.
 "We are excited to be working with Prakriti E-mobility to launch a sustainable transportation solution in India. Our advanced technology helps maximise operational efficiencies so our customers can build sustainable and profitable shared mobility businesses," Ridecell CEO Aarjav Trivedi said. IAS RUJ
RUJ

Prakriti E-Mobility partners with US-based Ridecell for tech solutions

<ul class="summary-list"><li>The US dollar has soared to a 20-year high against other major currencies this year.</li><li>Goldman Sachs' foreign-exchange research chief cited the Fed's rapid rate hikes as a key driver.</li></ul>The <a href="https://markets.businessinsider.com/index/us-dollar-index">US dollar</a> has appreciated rapidly this year, <a href="https://markets.businessinsider.com/news/currencies/us-dollar-crash-20-year-highs-fed-rate-hike-pause-2022-7">surging to 20-year highs</a> against other major currencies and pushing countries into a "<a href="https://markets.businessinsider.com/news/currencies/reverse-currency-war-dollar-dominance-pound-yen-central-banks-fed-2022-9">reverse currency war</a>" to keep up.Kamakshya Trivedi, Goldman Sachs' head of global foreign-exchange research, explained the reasons for the greenback's rise on the <a href="https://www.goldmansachs.com/insights/podcasts/episodes/10-04-22-trivedi.html">Exchanges with Goldman Sachs podcast</a> this week.Trivedi attributed the US currency's strength to the Federal Reserve's <a href="https://www.businessinsider.com/federal-reserve-hike-interest-rates-september-inflation-mortgages-credit-cards-2022-9">rapid-fire hikes</a> to interest rates this year. The central bank rushed to tighten its monetary policy after inflation spiked to a 40-year high in June — and a resilient domestic economy is allowing it to do this, he said.<h2>Here are Trivedi's 6 best quotes, lightly edited for length and clarity:</h2>1. "The Federal Reserve is hiking rates in a single-minded fashion, hefty increments of 75 basis points each time. They're moving fast and appear to be less constrained than other central banks in terms of tightening policy. That's supporting the dollar against most currencies across the world."2. "From the US perspective, a stronger dollar is 'our currency, but your problem' for a lot of the other parts of the world."3. "A lot of countries have a somewhat unhelpful dilemma. Either they accept a much faster depreciating currency. Or they need to move rates up fast enough to either keep pace with the Fed, or even outpace the Fed, which may not be appropriate for their local economic conditions. And so, you're faced with this very unpalatable trade-off in a lot of economies about just how much you can tighten."4. "Even from current strong levels, the dollar can appreciate further. We have another 2% of dollar appreciation baked into our forecasts for the next few months. But in a more hawkish scenario, where US inflation is more entrenched and the Fed needs to move further and keep rates higher for longer than envisioned, I think you could see another 5% to 7% appreciation."5. "In some of the more vulnerable pockets of emerging markets, where there is a substantial amount of dollar-denominated debt, there is already a debt crisis. That's the place you need to look for the real debt problems that are beginning to take place." (He pointed to Sri Lanka, Pakistan, and Ghana as examples.)6. "For the dollar boom to end, you need to see convincing evidence that inflation in the US is peaking, because that will allow the Fed to pivot back towards smaller steps, and ultimately to pause this hiking cycle. But currencies are a relative game. You also need to see better news elsewhere." (He suggested that growth has to pick up in Asia, and the UK and Europe have to navigate a "pretty tough winter" and start showing signs of economic recovery, for the dollar to weaken.)Read more: <a href="https://www.businessinsider.com/how-to-invest-stocks-inflation-strategy-bear-market-rally-keller-2022-10">Watch for these 3 key events that will determine if stocks are headed for a dramatic decline or a 'lights-out rally' in the next few weeks, says a veteran chartmaster who called the latest market selloff</a>

'Our currency, your problem': The dollar's surge to 20-year highs is causing headaches around the world, a Goldman FX chief says

New Delhi, Jan 21 () Tech firm Skylo on Tuesday said it has raised USD 103 million (about Rs 730 crore) in funding from SoftBank Group and others.
 The company, which has raised USD 116 million in total funding to date, saw participation from SoftBank Group in series B and was joined by series A co-leads DCM and Innovation Endeavors, alongside Moore Strategic Ventures, a statement said.
 It had raised USD 13 million in series A round, the statement added.
 Skylo makes affordable and ubiquitous network that connects any machine or sensors.
 It leverages the cellular Narrowband Internet of Things (NB-IoT) protocol via satellite, making it possible to instantly connect billions of sensors on objects and machines in remote areas. 
 Skylo's new satellite connectivity leverages existing geostationary satellites to bring reliable connectivity without the need to add new infrastructure in space.
 The statement said Skylo has completed successful commercial field trials with a major enterprise and government customers. Its customers include enterprise and government entities across industries, including automotive, railways, agriculture and maritime.
 "Skylo envisions a world where connectivity for machines, sensors and devices is as ubiquitous as the sky. This low-cost, global fabric of connectivity for machine data will be transformative for entire industries," Skylo co-founder and CEO Parthsarathi Trivedi said.
 The statement said Skylo will scale customer implementations, first in India and other emerging markets where it has already started implementing the technology in a range of industries.
 Skylo's service will be commercially available later this summer and the company is in commercial trials with users in the US and other world regions for subsequent launches and market expansion, it added.
 Skylo was founded in 2017 by Trivedi, Chief Technology Officer Andrew Nuttall and Chief Hub Architect Andrew Kalman.
 Its current board of directors includes board chairman former US Ambassador Terry Kramer, David Chao of DCM, Scott Brady and Harpinder Singh of Innovation Endeavors, and Trivedi.
 Skylo, which has offices in San Mateo (California, US), Bengaluru, and Tel Aviv, Israel, is growing the team globally to support its fast-growing customer base. SR RVK

Skylo raises USD 103 mn from SoftBank, others

Mumbai, Mar 11 () The rupee recovered 56 paise to settle at 73.61 (provisional) against the US dollar on Wednesday amid positive domestic equities and weakening of the American dollar in the overseas market. The rupee on March 9 had plunged to a 17-month low of 74.17 against the US dollar amid mounting fears of a coronavirus-led economic slowdown. At the interbank foreign exchange market, the rupee opened higher at 73.88 gained further ground to touch a high of 73.55 in day trade. The local unit finally settled at 73.61 (provisional) against the US dollar, registering a rise of 56 paise over its previous close. The forex market was closed on Tuesday on account of Holi. "Rupee traded strong after flat positive opening on selling of USDINR pair by exporters following likely intervention by the Reserve Bank of India (RBI) to curb sharp volatility in the currency pair USDINR," Jateen Trivedi, Senior Research Analyst (Commodity &amp; Currency) at LKP Securities. Trivedi further said that "more or less the market will keep trading volatile as coronavirus updates keep the buyers interested in USIDNR pair but falling crude prices give the strength to rupee". Going ahead the rupee can trade in range in 73.45-73.85, he noted. DRR MRMR

Rupee recovers 56 paise, settles at 73.61 against US dollar

Here’s a list of Lok Sabha and Rajya Sabha constituencies going for by-poll on 21st October 2019 <table style="width: 0cm;"> <tbody><tr> <td style="border-width: 1pt; border-style: solid; border-color: black; padding: 1.5pt 2.25pt; height: 15.75pt;"> Constituency </td> <td style="border-top: 1pt solid black; border-right: 1pt solid black; border-bottom: 1pt solid black; border-left-width: initial; border-left-style: none; padding: 1.5pt 2.25pt; height: 15.75pt;"> INC Candidate </td> <td style="border-top: 1pt solid black; border-right: 1pt solid black; border-bottom: 1pt solid black; border-left-width: initial; border-left-style: none; padding: 1.5pt 2.25pt; height: 15.75pt;"> BJP Candidate </td> </tr> <tr> <td style="border-right: 1pt solid black; border-bottom: 1pt solid black; border-left: 1pt solid black; border-top-width: initial; border-top-style: none; padding: 1.5pt 2.25pt; height: 15.75pt;"> Samastipur - Bihar (Lok Sabha) </td> <td style="border-top-width: initial; border-style: none solid solid none; border-left-width: initial; border-bottom-width: 1pt; border-bottom-color: black; border-right-width: 1pt; border-right-color: black; padding: 1.5pt 2.25pt; height: 15.75pt;"> Dr. Ashok Kumar </td> <td style="border-top-width: initial; border-style: none solid solid none; border-left-width: initial; border-bottom-width: 1pt; border-bottom-color: black; border-right-width: 1pt; border-right-color: black; padding: 1.5pt 2.25pt; height: 15.75pt;"></td> </tr> <tr> <td style="border-right: 1pt solid black; border-bottom: 1pt solid black; border-left: 1pt solid black; border-top-width: initial; border-top-style: none; padding: 1.5pt 2.25pt; height: 15.75pt;"> Rajya Sabha - Uttar Pradesh </td> <td style="border-top-width: initial; border-style: none solid solid none; border-left-width: initial; border-bottom-width: 1pt; border-bottom-color: black; border-right-width: 1pt; border-right-color: black; padding: 1.5pt 2.25pt; height: 15.75pt;"></td> <td style="border-top-width: initial; border-style: none solid solid none; border-left-width: initial; border-bottom-width: 1pt; border-bottom-color: black; border-right-width: 1pt; border-right-color: black; padding: 1.5pt 2.25pt; height: 15.75pt;"> Sudhanshu Trivedi </td> </tr> <tr> <td style="border-right: 1pt solid black; border-bottom: 1pt solid black; border-left: 1pt solid black; border-top-width: initial; border-top-style: none; padding: 1.5pt 2.25pt; height: 15.75pt;"> Rajya Sabha - Bihar </td> <td style="border-top-width: initial; border-style: none solid solid none; border-left-width: initial; border-bottom-width: 1pt; border-bottom-color: black; border-right-width: 1pt; border-right-color: black; padding: 1.5pt 2.25pt; height: 15.75pt;"></td> <td style="border-top-width: initial; border-style: none solid solid none; border-left-width: initial; border-bottom-width: 1pt; border-bottom-color: black; border-right-width: 1pt; border-right-color: black; padding: 1.5pt 2.25pt; height: 15.75pt;"> Satish Dubey </td> </tr> <tr> <td style="border-right: 1pt solid black; border-bottom: 1pt solid black; border-left: 1pt solid black; border-top-width: initial; border-top-style: none; padding: 1.5pt 2.25pt; height: 15.75pt;"> Kishanganj - Bihar (Assembly Bye Election) </td> <td style="border-top-width: initial; border-style: none solid solid none; border-left-width: initial; border-bottom-width: 1pt; border-bottom-color: black; border-right-width: 1pt; border-right-color: black; padding: 1.5pt 2.25pt; height: 15.75pt;"> Sayeeda Banu </td> <td style="border-top-width: initial; border-style: none solid solid none; border-left-width: initial; border-bottom-width: 1pt; border-bottom-color: black; border-right-width: 1pt; border-right-color: black; padding: 1.5pt 2.25pt; height: 15.75pt;"></td> </tr> <tr> <td style="border-right: 1pt solid black; border-bottom: 1pt solid black; border-left: 1pt solid black; border-top-width: initial; border-top-style: none; padding: 1.5pt 2.25pt; height: 15.75pt;"> Mandawa - Rajasthan (Assembly Bye Election) </td> <td style="border-top-width: initial; border-style: none solid solid none; border-left-width: initial; border-bottom-width: 1pt; border-bottom-color: black; border-right-width: 1pt; border-right-color: black; padding: 1.5pt 2.25pt; height: 15.75pt;"> Rita Chaudhary </td> <td style="border-top-width: initial; border-style: none solid solid none; border-left-width: initial; border-bottom-width: 1pt; border-bottom-color: black; border-right-width: 1pt; border-right-color: black; padding: 1.5pt 2.25pt; height: 15.75pt;"></td> </tr> <tr> <td style="border-right: 1pt solid black; border-bottom: 1pt solid black; border-left: 1pt solid black; border-top-width: initial; border-top-style: none; padding: 1.5pt 2.25pt; height: 15.75pt;"> Khinwsar – Rajasthan - (Assembly Bye Election) </td> <td style="border-top-width: initial; border-style: none solid solid none; border-left-width: initial; border-bottom-width: 1pt; border-bottom-color: black; border-right-width: 1pt; border-right-color: black; padding: 1.5pt 2.25pt; height: 15.75pt;"> Harendra Mirdha </td> <td style="border-top-width: initial; border-style: none solid solid none; border-left-width: initial; border-bottom-width: 1pt; border-bottom-color: black; border-right-width: 1pt; border-right-color: black; padding: 1.5pt 2.25pt; height: 15.75pt;"></td> </tr> <tr> <td style="border-right: 1pt solid black; border-bottom: 1pt solid black; border-left: 1pt solid black; border-top-width: initial; border-top-style: none; padding: 1.5pt 2.25pt; height: 15.75pt;"> Balha - Uttar Pradesh (Assembly Bye Election) </td> <td style="border-top-width: initial; border-style: none solid solid none; border-left-width: initial; border-bottom-width: 1pt; border-bottom-color: black; border-right-width: 1pt; border-right-color: black; padding: 1.5pt 2.25pt; height: 15.75pt;"> Mannu Devi </td> <td style="border-top-width: initial; border-style: none solid solid none; border-left-width: initial; border-bottom-width: 1pt; border-bottom-color: black; border-right-width: 1pt; border-right-color: black; padding: 1.5pt 2.25pt; height: 15.75pt;"></td> </tr> </tbody></table> The demise of one of the top leaders of BJP Arun Jaitley (BJP) and the renowned lawyer Ram Jethmalani (RJD) has created a vacuum in the Rajya Sabha. BJP has announced that the party’s spokesperson Sudhanshu Trivedi and former Lok Sabha MP Satish Dubey will contest for these two Rajya Sabha MP posts from Uttar Pradesh and Bihar respectively. Samastipur in Bihar will go for by polls due to the demise of Ramchandra Paswan who won from this seat on behalf of LJP in 2019 elections. Congress has nominated Dr. Ashok Kumar to contest from this seat. Earlier during the last elections, he lost to Ramchandra Paswan. During the upcoming bye polls on October 21, 2019, Sayeeda Banu, Rita Chaudhary, Harendra Mirdha and Mannu Devi will field for Congress party from the assembly constituencies of Kishanganj (Bihar), Mandawa (Rajasthan), Khinwsar (Rajasthan) and Balha (Uttar Pradesh) respectively.

Candidate list for by poll on October 21 in UP, Bihar and Rajasthan

<a href="http://www.businessinsider.in/searchresult.cms?query=hotels">Hotels</a> that tied up with aggregators seem to be displeased by the latter. Trouble began when the <keyword id="3187949" type="UNKNOWN" weightage="20" keywordseo="Hotel-Aggregators">hotel aggregators</keyword> started undercutting and promising more than the <keyword id="6368036" type="PERSON" weightage="20" keywordseo="Hotels">hotels</keyword> could provide. 
 
The <a href="http://www.businessinsider.in/searchresult.cms?query=hotel+aggregators">hotel aggregators</a> were at their peak as they were getting lot of customers in 2015 and had tied with as many as 1000 hotels. 
 
However, the experience, over the time, turned sour for the aggregators. 
 
ET reported an incident in which Sunil J Trivedi of Riverview Hotel in Ahmedabad said aggregators do not put everything on the site, which misleads the customer. 
 
"Undercutting is totally not tolerable in this industry as it is harmful for our business and goodwill. This clearly impacted the customers coming to us as sometimes we got day-use kind of bookings, which we never take," said Trivedi. 
 
Likewise, there are many instances in which hotels are snapping ties with the aggregators now. 
 
As per reports, over 200 hotels have apparently ended ties with leading aggregators Oyo <a href="http://www.businessinsider.in/searchresult.cms?query=oyo+rooms">Rooms</a> and <a href="http://www.businessinsider.in/searchresult.cms?query=zo+rooms">Zo</a> in the last five-six months. 
Another problem that hotels are facing is of payments. 
 
A Mumbai-based hotelier Karl Kerawalla took to <a href="http://www.businessinsider.in/searchresult.cms?query=twitter">Twitter</a> to complain about a non-payment issue. 
 
Hotels say due to a plethora of issues their loyal customers are turning away, which could lead to a major problem in the long run. 
 
Manav Thadani, chairman, HVS Asia Pacific told ET, "While there has been a lot of hype about the aggregator model, how many will survive depends on the management and having solid processes in place rather than deep discounting to win the game."

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'Our currency, your problem': The dollar's surge to 20-year highs is causing headaches around the world, a Goldman FX chief says

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Rupee recovers 56 paise, settles at 73.61 against US dollar

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Candidate list for by poll on October 21 in UP, Bihar and Rajasthan

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Hotels are snapping ties with aggregators after experience goes sour

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