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<ul><li>Online ticket booking platform BookMyShow has laid off or furloughed 270 employees as it expects its revenue to be "greatly reduced" in the coming months, hit by the <keyword id="8902449" type="UNKNOWN" weightage="20" keywordseo="covid-19-pandemic">COVID-19 pandemic</keyword> and lockdown. </li><li>This includes those who will be put on furloughs, along with those who we will have to part ways with, at least, as of now. </li><li>Amid the COVID-19 pandemic and the lockdown, multiplexes, theatres and stadiums were closed and people stayed indoors, which impacted these businesses as well as those in ancillary services.</li></ul>Online ticket booking platform BookMyShow has laid off or furloughed 270 employees as it expects its revenue to be "greatly reduced" in the coming months, hit by the COVID-19 pandemic and lockdown. Several tech-led businesses including Ola, Uber, Zomato and Swiggy have laid off hundreds of employees in the past few weeks as they struggle against reduced earnings and uncertain business environment. "...we have had to resort to the task of reducing our costs to align them with what we believe will be greatly reduced revenues in the months to come...Out of 1,450 employees at BookMyShow in India and globally, about 270 employees across various functions and teams, will be impacted through this exercise," BookMyShow <keyword id="9308716" type="UNKNOWN" weightage="20" keywordseo="chief-executive-ashish-hemrajani">chief executive Ashish Hemrajani</keyword> said in an email to employees. This includes those who will be put on furloughs, along with those who we will have to part ways with, at least, as of now, he added. He said the company has tried to do it best to offer financial support, continued health insurance cover and outplacement support for those impacted by the downsizing exercise. Hemrajani said the teams that are staying back have voluntarily taken salary cuts ranging from 10 per cent to 50 per cent at the leadership level, given up their bonuses and all salary raises. The company has cut all other expenses and renegotiated with vendors, partners and landlords and after exhausting all other cost-saving measures, it took the decision as a "last resort", he said, adding that the layoffs are "not a reflection" of the individual's performance or ability. Amid the COVID-19 pandemic and the lockdown, multiplexes, theatres and stadiums were closed and people stayed indoors, which impacted these businesses as well as those in ancillary services.

BookMyShow lays off, furloughs 270 employees

<keyword id="22508" type="PERSON" weightage="20" keywordseo="online">Online</keyword> ticketing platform <keyword id="600792" type="COMPANY" weightage="20" keywordseo="BookMyShow">BookMyShow</keyword> has <keyword id="176161" type="PERSON" weightage="20" keywordseo="laid-off">laid off</keyword> 200 <keyword id="6357081" type="UNKNOWN" weightage="20" keywordseo="employees">employees</keyword> as the Covid-19 pandemic continues to affect businesses. The move comes a year after the company laid off 270 employees across its offices in <keyword id="3658" type="LOCATION" weightage="20" keywordseo="India">India</keyword> and globally. Taking to Twitter, Ashish <keyword id="895742" type="PERSON" weightage="20" keywordseo="Hemrajani">Hemrajani</keyword>, CEO and Co-founder of Bigtree Entertainment Pvt Ltd, which operates BookMyShow, said: "<keyword id="8772552" type="COMPANY" weightage="20" keywordseo="covid19">COVID19</keyword> has taught me many lessons &amp; I learnt another one today. As we let go of 200 of the most incredibility talented &amp; performance driven individuals, each &amp; everyone has messaged, thanking me for the opportunity, the love for @bookmyshow and asking me if they could help me in any way possible." Hemrajani further said that he would support the affected staff to get new jobs and also asked for information on any available job opportunities. "And for me, finding each of them a new home, where a new journey can begin, was the easy choice. So if you have leads, please DM me &amp; we will do the needful. They will contribute incredibly to the growth of your wonderful firms. I'm sure we will all come out stronger," the CEO said. SEE ALSO: <a href="https://www.businessinsider.in/tech/gadgets/news/realme-is-expected-to-launch-the-realme-book-and-realme-pad-on-june-15/articleshow/83398969.cms">Realme Book leaked ahead of launch, expected to debut with Realme Pad on June 15</a> <a href="https://www.businessinsider.in/cryptocurrency/news/iran-is-planning-to-introduce-a-legal-framework-for-crypto-even-as-bitcoin-mining-activity-remains-restricted/articleshow/83396588.cms">Iran is planning to introduce a legal framework for crypto even as bitcoin mining activity remains restricted</a>

Online entertainment ticket booking platform BookMyShow lays off 200 employees amid pandemic woes

<keyword id="681957" type="ORGANIZATION" weightage="100" keywordseo="Bigtree-Entertainment">Bigtree Entertainment</keyword>, the parent company of India’s biggest movie and entertainment ticketing portal <keyword id="600792" type="UNKNOWN" weightage="100" keywordseo="BookMyShow">BookMyShow</keyword>, has been valued at more than Rs 3000 crore in the latest funding round. 
 
The company also raised over Rs 550 crore, mostly by US-based growth fund Stripes Group, in what could be called as one of 2016’s largest rounds of funding for an internet company. 
 The round also saw an active participation from all the existing investors of the company, viz. <keyword id="320882" type="COMPANY" weightage="100" keywordseo="Network-18">Network 18</keyword>, <keyword id="144381" type="COMPANY" weightage="100" keywordseo="Accel-Partners">Accel Partners</keyword>, and <keyword id="161314" type="COMPANY" weightage="100" keywordseo="SAIF-Partners">SAIF Partners</keyword>. 
 "We will continue to invest in enhancing user experience through our data analytics engine , and building contextual entertainment content including videos, reviews, discovery," <keyword id="6567822" type="PERSON" weightage="100" keywordseo="Ashish-Hemrajani">Ashish Hemrajani</keyword>, CEO and cofounder of BookMyShow, told <a href="http://economictimes.indiatimes.com/small-biz/money/bookmyshows-parent-company-bigtree-entertainment-raises-over-rs-550-crore/articleshow/53058255.cms">ET</a>. 
 
Hemrajani added that they now have enough capital to invest in strengthening its leadership position for the coming three years. 
 
The funding raised in this round is more than double of the total capital that the company raised over the last six years. 
 
<a href="http://www.dqindia.com/wp-content/uploads/2016/03/bookmyshow.jpg">Image source</a>

Bigtree Entertainment valued at more than Rs 3000 crore in
latest funding round

New Delhi [India], December 21: While making significant strides in various sectors, there are leaders in India who are standing out for their work worldwide. The "Global <keyword id="397956" type="General" weightage="20" keywordseo="indian-leaders" source="Orion">Indian Leaders</keyword> 2023" list curated by World Brand Affairs has featured leaders from across the country who are known for their innovative, resilient, and persistent approach to functioning in their respective industries. These people are heading towards new heights and establishing standards for excellence. The list honors their outstanding efforts and accomplishments which have propelled their companies to unbound success. Their inclusion in the list highlights their exceptional abilities to navigate challenges, adapt to changing market trends, and consistently deliver groundbreaking results. Gaurav Munjal, CEO of Unacademy Gaurav Munjal is the co-founder and CEO of Unacademy, India's largest online learning platform. With a vision to democratize education, Munjal pioneered Unacademy's growth, transforming it into a leading ed-tech powerhouse. His innovative leadership has revolutionized accessible and quality education, empowering millions of learners across the globe. Kunal Shah, Founder of CRED Kunal Shah is the founder and CEO of CRED, a fintech startup revolutionizing credit card payments in India. As a serial entrepreneur, Shah previously founded FreeCharge, later acquired by Snapdeal. His innovative approach to creating rewarding credit experiences has helped CRED to redefine credit card usage while fostering financial literacy. Ashish Hemrajani, Co-founder and CEO of BookMyShow Ashish Hemrajis the co-founder and CEO of BookMyShow, India's leading online entertainment ticketing platform. Hemrajani's unique idea revolutionized the way people book tickets for movies, events, and live performances. His ingenious leadership transformed BookMyShow into a cultural phenomenon, reshaping the access to entertainment industry across the country. Fardin Sheikh, Managing Director at Wizence Group Fardin Sheikh is a seasoned professional with over 25 years of exemplary leadership experience, earning him recognition as a Distinguished Digital Transformation Leader. His dynamic career spans across various roles, showcasing a remarkable blend of strategic vision, project management acumen, and a strong commitment to driving digital innovation. Pariksha Rao, Founder of NuWe Starting as a Clinical Nutritionist, Pariksha Rao has morphed into various roles with the intent to help demystify and democratize healthcare. From maternal well-being to fetal health and tailored nutrition for weaning kids to teens, her work has helped impact over 200,000 lives over nearly two decades of her career. She continues to amplify her impact with NuWe. Poojaa Choprah, CEO and MD of Felix Impex Poojaa Choprah, a visionary CEO &amp; MD of Felix Impex Pvt Ltd., and founder of PNA ORIGINE, is renowned for strategic business acumen and market expansions. A trailblazer in entrepreneurship, her global fashion insights, artistic fervor as a Kathak dancer, and bespoke training expertise redefine success, weaving innovation and cultural fluency into her vibrant career. Amandeep Kaur Khangura, Director of Tru Prime Amandeep is a Canadian born entrepreneur who moved to India in 2011, and acquired Indian Citizenship to follow her passion to bring social empowerment in rural Punjab. During her time in Canada, Amandeep chaired HR &amp; Finance for a $500M project. Currently, in India, she operates Majara Dairy Farm which has 2,600 livestock and is the largest dairy farm operator in Punjab and one of the largest in India. Pt. Dr Sanjeev Kumar Srivastava, Nadi and Vedic Celebrity Astrologer Renowned globally as a luminary in Nadi and Vedic astrology, Pt. Dr. Sanjeev Kumar Srivastava is celebrated across 70+ nations for his remarkable precision in predictions &amp; teaching Nadi Astrology. With an illustrious career spanning 27 years, his astonishing success rate of 95-97% and expertise in Nadi Nakshatra Sutras exemplify his command in the celestial arts. Dr Prachiti Punde, Director of Proluxe Dr Prachiti Punde is a powerhouse in Integrated Medicine, Director of Proluxe Pvt Ltd, and Mrs. Universe Tolerance 2021. She transforms health and lifestyle with an exclusive GLAMOWELL multi-experience centre and revolutionizes wellness with patented tools and a unique mobile app. Along with being a spiritually blessed child, she is also an Anesthetist and mindskills Trainer with 15+ books published. Sanju Pudyandil, Founder of Whitespace Brand Consulting Sanju Pudyandil, a luminary in brand management and marketing, launched Whitespace Brand Consulting after honing his expertise at Ray+Keshavan, presently Super Union. Renowned for orchestrating transformative corporate revamps, he spearheaded impactful makeovers for illustrious brands like Canara Bank, Trident Hotels, J&amp;K Bank, Punj Lloyd, CEAT Tyres, and Fair &amp; Lovely, among others. Stuti Galiya, Partner at Khaitan &amp; Co. Stuti, an esteemed Advocate and solicitor, serves as a Partner at Khaitan &amp; Co., excelling in mergers &amp; acquisitions, private equity, corporate laws, commercial contracts, and foreign investments. Recognized as the "Luxury Retail Lawyer of the Year 2023" by APAC Insider, her expertise in the luxury retail sector marks her as an ingenious leader in the Asia-Pacific legal domain. Srividhya, Founder of HITECH Engineering Solutions (India) Srividhya, founder of HITECH Engineering Solutions (India) holds a deeply rooted legacy in Construction since 1998. Her indomitable optimism defied industry challenges, establishing a prominent platform despite male-dominated norms. Under her guidance, the company thrives as a certified SSI unit with ISO 9001:2015, ISO 14001:2015 &amp; OHSAS 4500: 2018 qualifications, renowned for cost-effective solutions nationwide and across Asia. Debabrata Sarkar, CMD at MicroAlgae Solutions Debabrata Sarkar is an agricultural innovator with 26+ years of global experience. Armed with a BCKVV agriculture degree and IIM Kolkata alumni status, he led strategic units for esteemed firms in Asia Pacific. He is currently serving as the CMD at MicroAlgae Solutions India Pvt Ltd, a subsidiary of AlgaEnergy Spain. Mogilipuri Krishna Chaitanya, Director at Wonder View Media As a Director at Wonder View Media Pvt Ltd, a CMPTL franchise specializing in IT services and Business Consulting, Mogilipuri Krishna Chaitanya facilitated substantial growth for his brother's business. With over 9 years of experience, he continues to excel as a Software Engineer at Tata Consultancy Services (TCS) and has made significant contributions to tech giants like Apple, Google, and more. Subhajit Banik, Founder of Birdlens Creation Subhajit ventured into photography in 2007 as a model, cultivating expertise in lighting and creative framing. Winner of the Glamhunt competition by ABP group in 2010, he founded Birdlens Creation in 2015. Specializing in wedding photography, Subhajit crafts timeless, emotive images reflecting couples' love and joy. Dr Rahul Mirchandani, Chairman &amp; Managing Director of Aries Agro Limited Dr Rahul Mirchandani, ranked among the 30 Most Innovative CEOs in India, has pioneered unique strategies to build 130+ Aries specialty crop nutrition brands. With a PhD in Management Studies, he teaches Marketing, Innovation, and Entrepreneurship across 50+ B-Schools. He plays key roles in CII's agriculture council, and key governmental panels and was the National Chairman of CII's Young Indians. Vinay Kumar Singh, Executive Director and CEO of Thomson Digital and Q&amp;I (India) Vinay Kumar Singh is the Executive Director and CEO of Thomson Digital and Q&amp;I, with over 30 years of industry expertise. He pioneered Thomson Digital in India and globally, founding associated companies and an education technology startup. Specializing in scientific and educational content, Vinay completed his Executive Training Programs at ISB Hyderabad. Saurabh Gupta, Founder &amp; CEO of Verismart.ai A 3-time entrepreneur and angel investor in 9 deep tech firms, Saurabh Gupta is now leading Verismart.ai which pioneer in blockchain-based Ad-tech/Data Interoperability platform with over 520M+ users data pipeline while ensuring privacy compliance. He also acquired dolphinchat.ai., and has been a speaker at 50+ global conferences talking about Blockchain and data privacy. Vikkas K Jha, Founder of Brand Kettle Vikkas K Jha, an ace marketing professional turned visionary entrepreneur, founded Brand Kettle amidst the pandemic. With expertise in Commercial Fitouts, Retail Roll-Outs &amp; experiential marketing, he expanded Brand Kettle's services, integrating 30+ brands, within 3 years. He is also driving impactful social change via the Brand Kettle Foundation's NGO initiatives. Atharva Bahadur, CEO of Drishti Pures Atharva Bahadur is the CEO of Drishti Pures in Lucknow. Under Atharva's leadership, Drishti Pures, a pioneering endeavor, engages abandoned, differently-abled children in producing Cold Pressed Oil and processing pure spices, aiming to foster self-reliance among them. Currently housing 260 abandoned children, Drishti remains the largest institution of its kind globally. Harsh Niwas, Manager Legal and Team Lead at Unitech Limited Harsh Niwas is an international consultant having more than 12 years of experience in the Real Estate and Mining industries. His expertise lies in project management, legal strategy, and stakeholder communication, delivering successful outcomes and operational efficiency. Known for strong leadership, negotiation, and collaboration skills, he ensures compliance and value creation within teams and organizations. Hussain Kalsekar, Founder and CEO of 366 DigitX Renowned for fostering enduring relationships with corporate decision-makers, Hussain Kalsekar has steered 366 DigitX to unparalleled heights. His client-centric approach has garnered him accolades globally. Recognized as one of the top 100 smartest digital marketing leaders by the World Marketing Congress, he was also recently honored among the Top 50 Global High Flyers and awarded as the Leader in Digital Marketing for 2023. (ADVERTORIAL DISCLAIMER: The above press release has been provided by PNN. ANI will not be responsible in any way for the content of the same)

Global Indian Leaders of The Year 2023 as per World Brand Affairs

<ul><li>The event focuses on Web3, D2C, metaverse, SaaS, in addition to conversations around corporate governance and building resilient businesses.</li><li>The event will include over 50 speakers, over 20 investors and has more than 20 sessions that include keynotes, masterclasses, panel discussions and exclusive lunch table sessions.</li><li>The 2-day event is spread across <keyword id="3658" type="General" weightage="100" keywordseo="india" source="Orion">India</keyword>’s leading sStartup hubs – Delhi-NCR and Bengaluru.</li></ul>Dubbed as India's largest and most definitive startup event for tech entrepreneurs, TiE Delhi-NCR’s India Internet Day (iDay) is all set to commence. The event will be held at two different locations and nation’s leading startup hubs. It is slated for September 1-2 in Bengaluru and Delhi-NCR. The theme for iDay 2022 is ‘Riding the wave: Building Winning Businesses Today’. Over 100 key industry stakeholders, ace investors, unicorn founders will be a part of conversations revolving around building resilient businesses, trends in D2C, Web3, metaverse, SaaS, crypto and beyond. Now in its 11th edition, the iconic India Internet Day has been running successfully for over a decade, curated by key leaders from the Indian startup ecosystem. iDay will showcase best practices, exciting opportunities and defining future trends. Expected attendees include tech pioneers, innovators, ideators, investors, mentors, incubators, accelerators, evangelists and budding entrepreneurs. The conference plays host to in-depth sessions, engaging keynotes by leading founders, investors and market experts of the digital world, in addition to exclusive lunch table sessions. “It has been an honour to co-chair this edition of India Internet Day, which has always been the premier event for tech entrepreneurs. The importance of this platform is even more amplified now, when founders need to learn from one another on how to build enduring, resilient businesses. Like they say - when the going gets tough, the tough get building,” said Mayak Khanduja, partner, elevation capital &amp; co-chair, India Internet Day. The exceptional line up for the event includes institution builders, leading tech entrepreneurs, nation’s best investors and policy makers including Deepak Bagla, Invest India; Mayank Khanduja, Elevation Capital; Rajan Anandan, Sequoia India &amp; SEA; Deep Kalra, MakeMyTrip; Mohit Bhatnagar, Sequoia India; Mukul Arora, Elevation Capital; Kiran Vasireddy, Kalaari Capital; Ashwini Asokan, Vue.ai, Blox.ai; Upasana Taku, Mobikwik; Ravi Chhabria, NetApp India; Gaurav Gupta, Squareboat; Ashish Hemrajani, BookMyShow; Ashish Singhal, CoinSwitch; Vidit Aatrey, founder &amp; CEO, Meesho &amp; many more. “Over the past decade, India Internet Day has emerged as a leading platform showcasing India’s internet growth story. After a resounding debut in 2012, it has grown from being relevant to being indispensable for stakeholders across the ecosystem. iDay hosts the entire gamut of the internet mobile industry in India like no other forum,” said Geetika Dayal, executive director, TiE Delhi-NCR. “This year iDay focuses on building robust, resilient &amp; future ready companies which can survive &amp; succeed in the midst of headwinds. We are happy to bring iDay to Bengaluru in collaboration with TiE Bangalore this year,” added Dayal. The conference is supported by <keyword id="3003094" type="General" weightage="50" keywordseo="startup-india" source="Orion">Startup India</keyword>, Elevation Capital, Sequoia Capital, Microsoft, AWS, Squareboat, Netapp Excellarator, Kalaari Capital, Client Associates, Google Cloud, Kalaari and NTT Data-TiE Pune. As a commitment towards being a responsible organization TiE Delhi-NCR is continuing to build on its initiatives to adopt sustainability and make its events truly sustainable. As a first formal step towards being carbon neutral, it is tracking its carbon emissions for the India Internet Day and adopting steps to reduce emissions, waste generated and water wastage. India Internet Day 2022 is going to officially be a carbon neutral event. All the emissions offset undertaken, shall be published for public knowledge, post third party validation. About TiE Delhi-NCR’s India Internet Day From its inception #iDay has set out to be a leadership conference that looks to set conversations around vision 2025 for the industry. It’s one of India’s most exciting gatherings of the internet community designed to deliver powerful content and showcase the possibilities, which the internet holds for the present and the future. The conference sees participation from all major and relevant technology companies from across the country. India Internet Day 2020 co-chairs include – Mayank Khanduja &amp; Ashwini Asokan along with the team Abhishek Gupta, Alok Mittal, Arvind Jha, Deep Kalra, Dev Khare, Gautam Gandhi, Karan Mohla, Latika Pai, Miten Sampat, Prasanto K Roy, Rajan Anandan, Rajat Garg, <keyword id="262068" type="General" weightage="50" keywordseo="rajesh-sawhney" source="Orion">Rajesh Sawhney</keyword>, Ravi Gururaj, <keyword id="8713499" type="General" weightage="50" keywordseo="shereen-bhan" source="Orion">Shereen Bhan</keyword>, <keyword id="3380503" type="General" weightage="50" keywordseo="suchita-salwan" source="Orion">Suchita Salwan</keyword> and Vani Kola – who are the torchbearers who put together the conference that has emerged as the voice of India’s internet industry. About TiE Delhi-NCR TiE Delhi-NCR is among the most active and vibrant chapters across the vast TiE network. In the last two decades, it has continuously taken the lead in creating an increasingly positive ecosystem for entrepreneurs and investors. With a strong mentor support base, marquee events and focused workshops throughout the year it has emerged as one of the most valuable platforms supporting entrepreneurship, nationally. TiE Delhi-NCR conducts a wide range of programmes to help entrepreneurs. These include TiEcon, Startup Expo, TiE Institute, TiE Young Entrepreneurs along with Special Interest Groups (SIGs) across sectors.

India’s largest event for tech entrepreneurs, TiE Delhi-NCR’s India InternetDay - now connects two startup hubs

<ul><li><keyword id="12512152" type="General" weightage="20" keywordseo="lysto" source="Orion">Lysto</keyword> provides API and infrastructure to enable other platforms to distribute their own NFTs.</li><li>The company is now backed by founders of Polygon, BookMyShow and other noted startups in the country.</li><li>Lysto is one of many <keyword id="4668945" type="General" weightage="20" keywordseo="nft" source="Orion">NFT</keyword> and crypto platforms that have been gaining traction from VCs in India.</li></ul> Homegrown non-fungible token platform Lysto announced a seed funding round worth $3 million today. The round included investments from venture firms BEENEXT, Better Capital, Cloud Capital and other investors. Angel investors and entrepreneurs from the <a href="http://coindcx.com">crypto community</a> in India were also involved, including Polygon founders <keyword id="11257748" type="General" weightage="20" keywordseo="sandeep-nailwal" source="Orion">Sandeep Nailwal</keyword> and Jaynti Kanani, Flipkart’s <keyword id="6364080" type="General" weightage="20" keywordseo="binny-bansal" source="Orion">Binny Bansal</keyword>, and CRED founder <keyword id="192201" type="General" weightage="20" keywordseo="kunal-shah" source="Orion">Kunal Shah</keyword>, all of whom invested in their personal capacity. Sadiq Ahamed, Founder &amp; CEO of Lysto, said that he expects e-commerce firms, entertainment and gaming companies and more to launch their NFTs to raise funds in future, which is a sentiment that many experts <a href="https://www.techcircle.in/2021/09/23/from-bollywood-to-cricketers-nfts-catch-celebs-attention-in-india/">have echoed</a> in the past. Lysto’s investors also include Nitish Mittersain, the founder of Indian gaming giant Nazara Games, ticketing platform BookMyShow’s founders Ashish Hemrajani and Parikshit Dhar, and Shaadi.com founder Anupam Mittal. The company has offices in Bengaluru and Singapore and was founded earlier this year. It aims to bring NFTs to the public through platforms they are familiar with, and said that the funds will be used to expand its teams right now. “Lysto has an ambitious vision of democratising NFTs for every internet user in the world,” said Hero Choudhary, Managing Partner at BEENEXT. <cmsannotation type="cmsannotation" annotationid="Not the first Indian startup to look into NFTs" comment="subhead" text="Not the first Indian startup to look into NFTs">Not the first Indian startup to look into NFTs</cmsannotation> Lysto is not the first platform of its kind to be funded in India though. NFT, crypto and other blockchain firms have <a href="https://www.livemint.com/companies/news/vc-interest-in-crypto-firms-rising-despite-regulatory-uncertainty-11628621392415.html">been gaining</a> VC interest rapidly in India. The company builds APIs and infrastructure tools to enable NFT distribution in India, which is in a way similar to NFTically, a software-as-a-service (SAAS) company catering to platforms and users who want to build their own NFT platforms. NFTically announced a <a href="https://www.livemint.com/technology/tech-news/nft-adoption-gaining-traction-in-india-11627233964069.html">seed funding</a> round in July this year, extending the round to nearly $1 million in October. The company had partnered with Zee Studios in September to help the production house build its own NFT marketplace. SEE ALSO: <a href="https://www.businessinsider.in/investment/news/openseas-nft-trade-quadruples-to-10-billion-in-under-three-months-but-axie-infinity-continues-to-be-the-crowd-favourite/articleshow/87609137.cms">OpenSea’s NFT trade quadruples to 10 billion in under three months but Axie Infinity continues to be the crowd favourite</a> <a href="https://www.businessinsider.in/investment/news/jack-dorsey-square-says-not-to-nfts-wants-to-make-bitcoin-the-native-currency-for-the-internet/articleshow/87607372.cms">Jack Dorsey’s Square is steering clear of NFTs — wants to make Bitcoin the ‘native currency for the internet’</a>

Another Indian NFT startup is in the works — backed by Binny Bansal, Kunal Shah, Sandeep Nailwal and others

<ul><li><keyword id="3518161" type="General" weightage="20" keywordseo="koo" source="Orion">Koo</keyword> has spent 65% of its total Facebook ad spends transactions in the last 90 days.</li><li>The company aims to close 2021 with 100 million users registered to the platform, Koo co-founder said.</li><li>Koo currently has over 14 million app downloads, a 10x increase since September last year.</li></ul>Social media app Koo started with a big bang, garnering interest from users, investors and in some cases even government officials. The company sprung up in March 2020 as Twitter’s Indian alternative and started gaining momentum in June last year, as relations between Twitter and the Indian government started straining. After 18 months, 14 million downloads and $34 million (₹255 crore) in fundraising, Koo is now splurging on Facebook ads to get more users on board and take on Twitter that has <a href="https://www.statista.com/statistics/242606/number-of-active-twitter-users-in-selected-countries/">22 million</a> users in India. The company has spent a little over ₹2.4 crore on Facebook ads in the last 90 days, according to <a href="https://www.facebook.com/ads/library/?active_status=all&amp;ad_type=political_and_issue_ads&amp;country=IN&amp;view_all_page_id=101044114877636&amp;search_type=page&amp;media_type=all">Facebook Ad Library</a>. That’s ₹80 lakh a month and ₹2.6 lakh a day, making Koo the top spender on Facebook in the last three months. These ads were run across Facebook-owned platforms like Facebook, Instagram, Messenger and its audience network. Interestingly, this is 65% of the total marketing expense (₹3.7 crore) Koo has made on the Facebook app since its inception in March 2020. It seems to be working because the Koo app was downloaded over 3.3 million times between July 8 to October 5, as per App Annie report accessed by Business Insider. <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Timeline </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Ad spent </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">App Downloads </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">March 2020-October 5, 2021 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹3.78 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">14.3 million </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Last 90 days (July 8-October 5, 2021) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2.4 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3.3 million </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Last 30 days (September 6 - October 5, 2021) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹78 lakh </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1 million </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Last 7 days (September 29 - October 5, 2021) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹12.7 lakh </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">230,000 </td></tr></tbody><tbody></tbody><tbody></tbody></table> The app was downloaded 3.5 million times between July 1 to October 5, which is 5 lakh lower than April to June quarter. Please note that not all these downloads were generated through ads, some of them maybe organic as well. <div type="image" title="Koo is spending ₹2.6 lakh a day on Facebook to beat Twitter" msid="86868782" hostid="261"></div> Koo was co-founded by Aprameya Radhakrishna and Mayank Bidawatka, who previously founded a Q&amp;A platform Vokal. The company wa founded to enable Indian users to converse freely in their local languages, which is not that widespread on Twitter. Koo currently has over 1.43 crore (or 14 million) downloads on its app, as per the App Annie analysis. This represents over 10 times increase from 17 lakh (1.7 million) downloads in September last year. The company, however, has set up higher targets for itself. “Our objective is to be extremely inclusive as a product and as a philosophy, so that every Indian is comfortable voicing their opinions. We want to get to 250 million users a month. We want to reach 100 million users by the end of the year, and I am as confident as an entrepreneur can be that we will reach there,”<a href="https://www.businessinsider.in/advertising/ad-tech/article/i-am-confident-we-will-get-to-100-million-users-by-the-end-of-this-year-mayank-bidawatka-koo/articleshow/81210997.cms"> Bidawatka told</a> Business Insider earlier in February this year. As a part of its strategy, Koo is available in 10 local languages — Hindi, English, Assamese, Gujarati, Kannada, Tamil and Telugu, among others. It plans to add 15 more languages to its platform to attract more customers. The company is backed by the who's who of the tech world including Tiger Global, Mirae Asset Capital, Coinbase’s former chief technology officer (CTO) Balaji S. Srinivasan, Ashish Hemrajani of BookMyShow, Vivekananda Hallekere of Bounce and Zerodha’s Nikhil Kamath. Koo is currently available in India as well as Nigeria, which banned Twitter earlier this year. Some prominent Indian personalities using Koo app are Bollywood actor Kangana Ranaut and Uttar Pradesh Chief Minister Yogi Adityanath. SEE ALSO <a href="https://www.businessinsider.in/business/corporates/news/tata-sons-buy-air-india-for-2-39-billion-from-the-indian-government/articleshow/86867529.cms">Tata Sons buys ‘Maharaja’ for $2.39 billion from the Indian government</a> <a href="https://www.businessinsider.in/business/telecom/news/airtel-announces-cashback-of-6000-free-one-time-screen-replacement-on-purchase-of-new-devices/articleshow/86865821.cms">Airtel announces cashback of ₹6,000, free one-time screen replacement on purchase of new devices</a> <a href="https://www.businessinsider.in/stock-market/news/tata-motors-titan-ongc-bandhan-bank-and-bosch-stand-out-this-week-with-over-10-rallies/slidelist/86866914.cms">Tata Motors, Titan, ONGC, Bandhan Bank and Bosch stand out this week with over 10% rallies</a>

Koo is spending ₹2.6 lakh a day on Facebook to beat Twitter

<ul><li><keyword id="4451422" type="PERSON" weightage="20" keywordseo="Flipkart-CEO-Kalyan-Krishnamurthy">Flipkart CEO Kalyan Krishnamurthy</keyword>, <keyword id="10944578" type="UNKNOWN" weightage="20" keywordseo="zerodha-founder-nikhil-kamath">Zerodha founder Nikhil Kamath</keyword> feature in the list of investors that bought out Shunwei Capital’s stake.</li><li>Shunwei Capital had held over 9% stake in Bombinate Technologies, the parent company of Vokal and Koo.</li><li>Koo, the microblogging platform founded by Aprameya Radhakrishna and Mayank Bidawatka, had seen an upsurge in users after the Indian government’s standoff with Twitter.</li></ul>Bombinate Technologies, the parent company of Vokal and Koo, has shown the door to one of its early investors China’s Shunwei Capital as it rides on the ‘Made in India’ bandwagon. While the company didn’t release any financial details, it said that Shunwei Capital had held a bit more than 9% in Bombinate Technologies. With the Indian government’s regulations on Chinese investors and crackdown on Chinese apps in the light of the Indo-China border clash, startups have been conscious. Indian startups that are backed by Chinese investors, have been subject to <a href="https://asia.nikkei.com/Business/Startups/Indian-startups-face-a-new-normal-amid-China-conflict">backlash</a> on social media platforms, which has deviated from their ‘Made in India’ image. Chinese investors like Tencent, Alibaba who had so far been major investors in India’s startup ecosystem, are now looking at ways to<a href="https://www.livemint.com/companies/news/alibaba-puts-fresh-investment-plans-in-india-on-hold-11598459771981.html"> exit </a>their startup investments in India. The Tata Group’s reported acquisition of Indian grocery startup BigBasket is set to give an exit to one of BigBasket’s early investors – Alibaba. In Koo’s case, for the buyout of the Chinese investor came along Indian entrepreneurs and leaders of the startup ecosystem. Former Indian cricketer Javagal Srinath, BookMyShow founder Ashish Hemrajani, Udaan co-founder Sujeet Kumar, <keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword> CEO Kalyan Krishnamurthy and <keyword id="759851" type="COMPANY" weightage="20" keywordseo="Zerodha">Zerodha</keyword> founder Nikhil Kamath bought out Shunwei Capital’s stake. Koo, the microblogging platform founded by Aprameya Radhakrishna and Mayank Bidawatka, is available in English, Hindi, Kannada, Telugu, Marathi, Tamil, Gujarati, Bengali and Malayalam. “As earlier stated, we had been in discussion with Shunwei Capital to enable a smooth exit after it invested in our company 2.5 years ago while we were raising funds for Vokal and have now fully exited the parent company Bombinate Technologies,” said Aprameya Radhakrishna, CEO and Co-founder, Koo in a statement. In India, the recent standoff between Twitter and the Indian government, which wanted the social media giant to ban <a href="https://indianexpress.com/article/india/twitter-accounts-block-govt-notice-khalistan-sympathiser-pakistan-7179728/">certain handles</a>, had come as a boon for Koo. When Business Insider had spoken with <a href="https://www.businessinsider.in/tech/news/twitter-indian-rival-koo-has-crossed-3-million-downloads-as-ministers-and-actors-got-down-to-promoting-it-the-founders-are-ecstatic/articleshow/80788087.cms">Bidawatka in </a>February 2021, the ecstatic founder had shared that the barely 10-month old app Koo had crossed over 3 million downloads, registering a 10X growth since December, 2020. Koo had earlier in February raised $4.1 million as part of its Series A funding recently from 3one4 Capital, Accel Partners, Kalaari Capital, Blume Ventures and Dream Incubator. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/nazara-technologies-ipo-opens-today-should-you-subscribe/articleshow/81542657.cms">Nazara Technologies will be the first pure-play gaming company to debut on the Indian public markets – analysts are all in for it</a> <a href="https://www.businessinsider.in/tech/apps/news/paytm-is-betting-big-on-upi-and-though-its-still-a-distant-third-analysts-believe-it-could-have-an-edge-over-phonepe-and-google-pay/articleshow/81527588.cms">Paytm is betting big on UPI and though it’s still a distant third, analysts believe it could have an edge over PhonePe and Google Pay</a>

A flurry of Indian A-list entrepreneurs buyout Chinese investor Shunwei Capital’s stake in Koo – the microblogging site that’s taking on Twitter

<ul><li><keyword id="67389" type="ENTERTAINMENT" weightage="20" keywordseo="U2">U2</keyword> is heading to Mumbai for its first ever show in India. </li><li>The band will be playing in Mumbai on December 15.</li><li>The tickets will go on sale from <keyword id="600792" type="COMPANY" weightage="20" keywordseo="BookMyShow">BookMyShow</keyword>.</li></ul>One of the world’s most legendary bands U2 is bringing its Joshua Tree tour to India. This will be U2’s debut show in India. The band will be playing on December 15, at DY Patil stadium in Mumbai. In a promotional video for the show, the band’s lead vocalist <keyword id="42169" type="PERSON" weightage="20" keywordseo="Bono">Bono</keyword> said that the Mumbai show will be “one of the greatest nights of my life”. <div type="twitter" handle="U2" handlename="U2" image="http://pbs.twimg.com/profile_images/1156327080231092224/s5hvzoqH_normal.jpg" favoritecount="1681" retweetcount="378" status="'Bono, what are you doing on December 15th 2019?' First ever @U2 show in India that's what, as The Joshua Tree Tour… https://t.co/bao4hrLlNp" createdat="1568777121000" id="1174162464734425089"></div>

 The tickets will go on sale by the end of September. However, fans can now head to BookMyShow to register themselves for an early bird sale. The subscriber sale will go on from September 24 and 25. PhonePe users can also get early access to tickets between September 26 and 29. General tickets will go live from October 1 onwards. The Mumbai show will also be the final stop of the band’s Joshua Tree tour which travelled to New Zealand, Australia, Japan, Singapore, South Korea and the Philippines. BookMyShow’s founder Ashish Hemrajani <a href="https://www.livemint.com/mint-lounge/features/u2-brings-the-joshua-tree-to-india-1568773653668.html">said</a> that the show “will be nothing short of historic."

U2 heads to India, Bono says it will be “one of the greatest nights of my life”

Bengaluru-based mobile payments startup <keyword id="3259695" type="UNKNOWN" weightage="100" keywordseo="Juspay">Juspay</keyword> has raised Rs 40 crore in series-A round of funding from <keyword id="144381" type="COMPANY" weightage="100" keywordseo="Accel-Partners">Accel Partners</keyword>, the venture capital firm. Not only this, it has also raised capital from Ashish Hemrajani, Parikshit Dar and Rajesh Balpande, the founders of online ticket booking app <keyword id="600792" type="UNKNOWN" weightage="100" keywordseo="BookMyShow">Bookmyshow</keyword> founders. 
 
The company representatives said that the funds will be used to build its product. 
 
In the funding, Juspay, which was founded three years back, was valued at over Rs 200 crore. The company also has India Value Fund partner and former Network18 CEO Haresh Chawla as an angel investor. 
 
The deal has given Accel about 20% stake in the company, one of the persons aware of the matter told ET. 
 
Accel, which typically invests less than Rs 6 crore in very early stage companies, cited the attractiveness of the startup and broader payments space for this huge investment. 
 
Juspay was founded by former Amazon engineer Vimal Kumar and Ramanathan RV in 2012, while Bloomberg executive Sheetal Lalwani joined them in 2014. 
 
Their technology helps companies simplify payments by aggregating different services across net banking, wallets and cards. It also helps merchants in improving success rate of payments on the platforms. 
 
It can boast of India's top ecommerce platforms like Amazon India, Snapdeal, Bookmyshow, Makemytrip, Yatra, Swiggy, Freecharge, Foodpanda and Jabong as its clients. 
 
<a href="http://d152j5tfobgaot.cloudfront.net/wp-content/uploads/2014/11/Vimal-Ram-Juspay-Safe.jpg">Image source</a>

JusPay raises Rs 40cr from founders of Accel and Bookmyshow

<keyword id="600792" type="UNKNOWN" weightage="100" keywordseo="BookMyShow">BookMyShow</keyword>, an online entertainment ticketing service owned by <keyword id="2347885" type="UNKNOWN" weightage="100" keywordseo="Bigtree-Entertainment-Pvt-Ltd">Bigtree Entertainment Pvt Ltd</keyword>, has Rs 150 crore from <keyword id="161314" type="COMPANY" weightage="100" keywordseo="SAIF-Partners">SAIF Partners</keyword> and its existing investors, Accel Partners and <keyword id="940289" type="COMPANY" weightage="80" keywordseo="Network18-Media">Network18 Media</keyword> and Investments Ltd. The transaction values the venture at over Rs 1,000 crore, according to a company statement. 
 
BookMyShow will use the funding to expand its reach outside big cities, build infrastructure and increase its service offerings. The company has recently started offering ticketing services in 20 more cities. It is now looking to enter the single-screen cinema hall segment. 
 “We are very happy to have SAIF Partners as our latest investors. Their experience of having helped companies such as <keyword id="54613" type="COMPANY" weightage="60" keywordseo="makemytrip">MakeMyTrip</keyword> and Just Dial go public would be of immense value to us as we move forward in our growth plans,” said Ashish Hemrajani, founder and chief executive of BookMyShow. 
 
Last year, the Network18 group, which held 60% stake in Bigtree Entertainment, sold a minority stake to venture capital investor Accel Partners for around $12 million (Rs 66 crore).

BookMyShow Raises Rs 150 Crore
From SAIF Partners, Existing Investors

The food review and ordering industry in India has been flourishing significantly in the past few months due to the presence of aggregators who are making the most of the potential of a mobile first and home chef marketplaces. 
 The latest entrant to this booming industry is a mobile-only food marketplace called <keyword id="3065387" type="UNKNOWN" weightage="80" keywordseo="DishCo">DishCo</keyword> founded by Jimmy and Fida Shaw (in picture above) and backed by Mahindra Group chairman Anand Mahindra, Punj Lloyd founder Uday Punj, bookmyshow.com founder Ashish Hemrajani, and New York-based Sanjeev Mehra, partner at Goldman, Sachs &amp; Co, who have all turned angel investors for DishCo. 
 In a bid to stand out from the existing options in the market, DishCo primarily aims to be the one-stop solution app for one’s dining problems. Elaborating on the same, <keyword id="3065393" type="UNKNOWN" weightage="80" keywordseo="Jimmy-shaw">Jimmy Shaw</keyword>, says, “DishCo will be offering all services that existing apps offer such as food reviews, table reservations, food delivery, coupons and wallet services, but, all under one app. So, a user won’t have to download a number of different apps for the same.” Thus, a user can rank and share his/her favourite dishes, thus personalizing their eating out experience. 
 
DishCo is all about putting the fun back in dining, he claims. “The user interface goes far beyond asking the usual name, email ID and mobile number profile. The app instead maps user’s likes and requirements and then ensures that each user is dished out a unique offering and experience. DishCo allows a user to decide the offers he/she wants, chat with the outlets, answer queries and solve real problems that are sometimes encountered, give feedback directly to a restaurant to ensure that it is used by the outlet to improve upon future experiences.” 
 But, doesn’t reviewing a restaurant on <keyword id="830092" type="COMPANY" weightage="80" keywordseo="Zomato">Zomato</keyword> serve the same purpose too? According to Shaw, many review restaurants on these sites or on social media without completely understanding the nuances of the hospitality industry. More often than not, it ends up hurting the restaurant’s reputation rather than providing constructive criticism. 
 
“That’s where DishCo comes in by letting a customer connect directly with restaurant management,” says Shaw. 
 
Through the app, consumers can interact with the restaurants directly using the simple Resto Chat feature and convey their grievances or feedback. Eventually, the ability of the restaurant to retain patrons and to attract repeat customers will be dependent on the quality of their service, food, overall experience of the guests. 
 
“Our aim is to facilitate interaction between the consumer and the service provider and create a fruitful, result-oriented dialogue instead of a one-way feedback,” he says. 
At the moment, close to 8500 restaurants across Mumbai, Pune and Goa have signed up on DishCo and the process of registering restaurants is still ongoing. The app plans to soon expand to Delhi, Hyderabad and Bengaluru. 
 
“The objective is to ensure that high costs of marketing do not deter the smallest player from reaching out to the very same audience that the biggest player can otherwise easily grab. Thus, with DishCo, we are creating a fair marketplace with a level playing field for everyone,” he adds. 
 
Shaw’s business model is also a bit different from others. Unlike most food startups that either charge restaurants a commission for orders sourced through them or have a fleet to deliver food to customers, DishCo offers listing and ranking service without any fee. However, DishCo has a fixed subscription fee for restaurants that opt for booking tables, offering coupons, and other value-added services. 
 
Apart from this, another unique feature of this app is their ‘Pledge a meal’ campaign, which Shaw hopes proves to be a game-changer for them as well as a helping hand for the underprivileged section of the society. 
 
“With Pledge a Meal, DishCo’s objective is to ensure that no child should go to bed hungry and thus, we expect every restaurant that registers on DishCo to sign up for a minimum pledge of 1 meal @ Rs. 25/- for one child per day which costs Rs. 750/- per month.” 
 
The Pledge a meal button on the app also lets consumers to pledge 1, 5, 10, 100 or more meals using the white labeled DishCo wallet / Debit / Credit card / NEFT. These individual pledges show up against the donor’s name and shows their friends’ contributions as well to encourage a healthy pledging habit. Every time a user donates and pledges a meal, DishCo will send a coupon / offer for them to use and enjoy. 
 
“Our aim is to eventually reach out to 50,000 restaurants and generate over 1.5 million meal pledges per month or 18 million a year. Pledge amounts including DishCo’s own contribution go to the Food Marshal Charitable Trust, which is a registered trust in Delhi,” states Shaw. 
 
As Shaw reiterates, DishCo begins where all the other apps end. The need of the hour, he believes, is to bring about a course correction and shift the balance back in favor of the restaurants. 
 
“Instead of a one-way public feedback where the restaurant owners have no opportunity to respond, defend, even when a complaint or a review may be motivated, DishCo will provide a platform to initiate a dialogue between the customer and restaurant that aims at resolution,” he explains. 
 
That’s not all. Shaw also plans on launching DishCo outside India apart from covering 46 cities in the next 12 months, keeping both the interests of the user and service provider in mind. 
 
Image credit: DishCo

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