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<ul><li><keyword id="18635" type="ORGANIZATION" weightage="100" keywordseo="Amazon">Amazon</keyword> led a new round of funding for <keyword id="4943836" type="LOCATION" weightage="20" keywordseo="Acko">Acko</keyword>, a digital insurance startup.</li><li>Acko’s main competition comes from sites like PolicyBachat, PolicyBazaar and Easypolicy. </li><li>Flipkart, Amazon’s primary challenger in the Indian market, has its own insurance portal called Sabin Advisors. </li></ul>After losing out on its offer to buy 60% stake in Flipkart, Amazon continues undeterred with its investments in India. The company is restarting its efforts by investing in Acko, a digital insurance startup based in the country. In its new round of funding, Acko managed to raise ₹809 million ($12 million) and also brought on a new investor, Ashish Dhawan, the founder of a private equity firm called ChrysCap. Reports of the US retail giant backing the startup have been <a href="https://tech.economictimes.indiatimes.com/news/internet/amazon-may-back-online-insurance-startup-acko/62322035">brewing</a> since January this year. Earlier, it was speculated that Amazon would come on board as a part of a new financing round of a total of ₹1 billion ($15 million). The actual amount may not be the complete billion, but it does bring Acko’s grand total up to ₹2.8 billion ($42 million). Not to mention, it’s the <a href="https://tech.economictimes.indiatimes.com/news/startups/amazon-leads-12m-funding-round-in-acko/64342454">first</a> investment by Amazon in India’s insurance sector. Founded by <keyword id="3064929" type="ORGANIZATION" weightage="20" keywordseo="Varun-Dua">Varun Dua</keyword>, one of the co-founders of Coverfox (an insurance comparison site), Acko’s main <a href="https://www.owler.com/company/ackogeneralinsurance#competitors">competition</a> comes from sites like PolicyBachat, PolicyBazaar, Easypolicy and PolicyX.com. At this point, they’re all generating more revenue than Acko. To its credit, it did <a href="https://www.owler.com/reports/acko/acko--ola--acko-partner-to-create-in-trip-insuranc/1522914840916">partner</a> with <keyword id="6354720" type="PERSON" weightage="20" keywordseo="ola">Ola</keyword> in April earlier this year to provide an ‘in-trip insurance’ program. Regardless of whether users chose to ride a cab, auto or e-rickshaw, users could opt-in for insurance that would cover the loss of property, medical expenses, ambulance transportation cover etc. The company claimed it was the first of its kind. In the future, it’s <a href="https://tech.economictimes.indiatimes.com/news/startups/amazon-leads-12m-funding-round-in-acko/64342454">possible</a> that Amazon is looking to bring those financial products to retail consumers as well. That’s probably one of the reasons why Flipkart was <a href="https://www.thenewsminute.com/article/amazon-talks-invest-rs-100-crore-online-insurance-startup-acko-technologies-74073">interested</a> in investing in Acko as well, but the deal seems to have landed in Amazon’s lap instead. That isn’t to say that Flipkart isn’t getting into insurance as well. The company was recently acquired by <keyword id="80487" type="ORGANIZATION" weightage="20" keywordseo="walmart">Walmart</keyword>, and had earlier <a href="https://www.thehindubusinessline.com/info-tech/flipkarts-bansals-diversify-kick-off-new-venture-sabin-advisors/article10007641.ece">set up</a> its own insurance business and venture capital funding called ‘Sabin Advisors’ in December, last year. Acko already has backers like Catamaran Ventures, Hemendra Kothari of <keyword id="83987" type="ORGANIZATION" weightage="20" keywordseo="DSP-Blackrock">DSP Blackrock</keyword> and Accel Partners, among others. The plan is that the company’s interface will completely be online, but for insurance claims there will operate offline centres.

Amazon invests $12 mn in Indian insurance start-up Acko

It’s discouraging to see your bank account run dry even before the month ends. Naturally, you want to curse your job or sulk over your low <keyword id="10876" type="UNKNOWN" weightage="20" keywordseo="salary">salary</keyword>, but rarely do you realize that it’s your ability to save and invest that will determine how rich you are by the end of the month than how high your salary is. 
 If you cannot save and invest that saving smartly, you will be left with nothing in your account even if you earn a 6-figure salary. At the same time, compromising on your life to make <keyword id="25450" type="UNKNOWN" weightage="20" keywordseo="savings">savings</keyword> can become frustrating. What’s the point of earning money when you can’t spend it the way you want? But the fact is, not always do you have to sacrifice the life you like when trying to save money. 
 
Here are a few tips to save extra money in your bank account without bringing massive changes in your lifestyle: 
 
1. Learn to manage your money efficiently Often, your lifestyle is upgraded and your <keyword id="53105" type="PERSON" weightage="20" keywordseo="Expenditure">expenditure</keyword> increases with an increase in earnings. Until you formulate a way to save those hard-earned bucks instead of merely spending it, you will not be able to save money. Tracking your expenditure and preparing a budget accordingly can be a good idea. 
 
Saving Tip: Start early. Make it a point to save at least 25% of your salary every month. 
 
2. Utilize your free time on meaningful things 
Work on something that will help you pass your time and will also pay you back. For example, pursuing your hobby in your free time can not only be a stress-buster, but also develop your skills and help you earn a few bucks from it. Get hands-on experience and inculcate new skills by attending workshops, training sessions and lectures. 
 
Saving Tip: Such an investment not only helps you learn something new, but also helps monetize on it. 
 
3. Make small changes in favour of a better lifestyle 
Avoid spending on junk food. Eating out may seem like an easy option but it’s unhealthy as well as expensive. Instead, choose a healthy lifestyle - Make your own lunch or coffee. Resort to more such healthy lifestyle choices. 
 
Saving Tip: This way, you will end up focusing on a healthier lifestyle as well as saving substantial amount of money every month. 
 
4. Turn your savings into investments: Consult a <keyword id="193184" type="POSITION" weightage="20" keywordseo="financial-advisor">financial advisor</keyword> 
A financial advisor creates an investment plan that considers both the pros and cons. This helps you protect yourself against major losses. Consulting such advisors will help you earn or save more. Later when you become familiar with the market, you can rely on your own research. 
 
5. Investing money is an art, learn it 
 This is why <keyword id="326047" type="COMPANY" weightage="20" keywordseo="DSP-BlackRock-Mutual-Fund">DSP BlackRock Mutual Fund</keyword> has launched its learning platform <a href="https://learn.dspblackrock.com/?utm_source=Mainline&amp;utm_campaign=Typed&amp;utm_medium=IEI&amp;utm_content=mainline">dspblackrock.com/learn</a>. 
 
This website explains the art and science of investing in such a simple way that investing will seem like a child’s play. All one needs to do is to simply invest a little time. And when we all can spend so much time doing frivolous things, then why not spend a bit of time to sort our financial life out as well?

5 tips to save money without compromising on your lifestyle

Max Financial Services: Company worth ₹24,000 crore running with only 12 employees

The IPO of low-cost airline IndiGo saw a promising start on first day and the company saw QIBs bidding for Rs 97, 45, 590 shares. 
 The <keyword id="2351966" type="ORGANIZATION" weightage="20" keywordseo="InterGlobe-Aviation">InterGlobe Aviation</keyword>’s, which is the promoter of IndiGo, qualified institutional investor (QIB) quota was oversubscribed within the first hour. 
 
As per the NSE data, all the bids came in from FIIs. 
 
Reportedly, the company holds market share of 35.3% in aviation sector and allotted shares to 43 anchor investors, including Merrill Lynch, the Singapore government-owned GIC, Goldman Sachs, Ruane, Cunniff &amp; Goldfarb, Fidelity Investments and DSP Blackrock, in a pre-issue share sale. 
 
InterGlobe Aviation shares are on block at a price band of Rs 700-765 per share. It had lowered down the initial share sale size to more than Rs 3,000 crore.

IndiGo, India’s biggest IPO in 3yrs is already a blockbuster! Subscribed 33% on Day 1

IndiGo parent InterGlobe Aviation’s IPO, which was subscribed 87% of its Rs 3,018-crore issue size on the opening day, was not the only first timer. 
 
There were a plethora of investors who participated in the Indian IPO for the first time. 
 
The first time investors, who invested in the world's biggest and most profitable budget airlines, are Neuberger Berman, APG, Harvard Management Company, Davis International Fund, Hutchin Hill, Acacia Partners LP and Columbia Threadneedle. 
 
Reportedly, majority of these investors are raked in global low fare carriers. 
 
"A new investor is typically more cagey about putting in money than one with experience. These names show investors believe in IndiGo's business model and India's growth story," Prithvi Haldea, chairman and managing director of Prime Database, a tracker of primary markets told ET. 
 
Other investors who invested in the IPO included Merrill Lynch, Singapore government-owned GIC, Goldman Sachs, Fidelity Investments, DSP Blackrock and Wellington. The anchor book totalled Rs 832 crore at the top end of the price band at Rs 765 apiece.

IndiGo’s IPO is a hit even as it gets first time investors in to the Indian IPO market!

The initial public offering (IPO) of IndiGo was oversubscribed on the second day of <keyword id="1036807" type="UNKNOWN" weightage="20" keywordseo="book-building">book building</keyword> as investors bade for 3,02,19,735 shares against 3,01,22,088 offered. This happened manly due to subscription frenzy by qualified institutional bidders (QIBs). However, the response from non-institutional and <keyword id="6416579" type="UNKNOWN" weightage="100" keywordseo="Retail-investors">retail investors</keyword> remains tepid. 

	According to data available on National Stock Exchange (NSE), there were bids for 2,95,20,480 shares against the quota limit of 85,22,935 on offer. The bids came in mostly from FIIs. 
 

	The QIB quota has been subscribed 3.46 times so far.
 

	Non-institutional investors bade for 45,645 shares against the quota limit of up to 58,19,746. Retail investors, on the other hand, bid for 6,19,230 shares against 13,579,407 shares set aside for the category.
 On Monday, the allotted shares to 43 anchor investors, including <keyword id="6374847" type="CITY" weightage="60" keywordseo="Merrill-Lynch">Merrill Lynch</keyword>, GIC, <keyword id="6361649" type="CITY" weightage="60" keywordseo="Goldman-Sachs">Goldman Sachs</keyword>, Ruane, Cunniff &amp; Goldfarb, <keyword id="117850" type="COMPANY" weightage="100" keywordseo="Fidelity-Investments">Fidelity Investments</keyword> and DSP Blackrock, in a pre-issue share sale. 

	The allocation to anchor investors constituted nearly 30% of the total issue. It fetched a total of Rs 832 crore. 

	 
	(Image: Indiatimes)

IndiGo IPO got oversubscribed! Retail investors remains tepid

Just like Harry Potter and his friends went to Hogwarts to learn their wizardry, junior <keyword id="46431" type="CITY" weightage="80" keywordseo="India-Inc">India Inc</keyword> is heading to <keyword id="70846" type="ORGANIZATION" weightage="80" keywordseo="Harvard-Business-School">Harvard Business School</keyword> by the hordes, to learn the 'tricks' of the trade that will eventually help them help their illustrious parents in their multimillion dollar business ventures. And even as <keyword id="2601661" type="UNKNOWN" weightage="80" keywordseo="JAY-KOTAK">Jay Kotak</keyword>, the elder son of <keyword id="45051" type="PERSON" weightage="80" keywordseo="Uday-Kotak">Uday Kotak</keyword>, senior vice chairman and managing director of Kotak Mahindra Bank, prepares to attend the coveted business school, he will be joining many amongst India Inc's 'future'. BI India lists down five such second generation leaders who learned to swish their magic wands at Hogwarts..err.. <keyword id="53675" type="ORGANIZATION" weightage="80" keywordseo="harvard">Harvard</keyword>. 
 
Rishad Premji 
Rishad Premji, the current chief strategy officer and the head of Investor Relations &amp; Corporate Affairs, joined Wipro in 2007 as a manager in the financial division of the company. Armed with a MBA degree and BA degree in Economics from Wesleyan University, the junior Premji and is all set to join the board of the company from May 1. 
 
<keyword id="155327" type="PERSON" weightage="80" keywordseo="Rohan-Murty">Rohan Murty</keyword> Rohan Murty, son of Infosys founder <keyword id="745832" type="UNKNOWN" weightage="80" keywordseo="Narayanan-Murthy">Narayanan Murthy</keyword>, created a quite a stir when he joined the company in 2013. He joined the company as executive assistant to the Murthy. He pursued his PhD in Computer Science from Harvard Business School and is also a junior fellow in the Society of Fellows at the university. 
 
Aditi Kothari 
Daughter of investment banking veteran Hemendra Kothari, Aditi joined the group after completing her post graduation in business administration from Harvard. She is an Economics graduate from the Wharton School of the University of Pennsylvania. Currently, she is the head of Marketing at DSP BlackRock Investment Managers. 
 
Tanya Dubash Tanya Dubash, the eldest daughter of Adi <keyword id="6369697" type="COMPANY" weightage="80" keywordseo="Godrej">Godrej</keyword>, is currently the executive director and chief brand officer at Godrej Group. She is responsible for spearheading the conglomerate’s marketing functions. Dubash has an AB degree with Economics and Political Science from Brown University and pursued Advanced Management Programme from Harvard. 
 
Nisaba Godrej 
The younger daughter of Adi Godrej, Nisaba, popularly known as Nisa, serves as the head for innovation strategy at the Godrej Group. She went to Harvard to study MBA and if reports are to be believed, she was fixated on India. Once back, she joined Godrej Agrovet and turned the tables for the company.

5 India Inc scions who went to Harvard to learn the 'tricks'

By adding $11.2 billion to his fortune, Facebook's Mark Zuckerberg was all smiles when the ‘FORBES 2016 Top 10 list of the World’s Wealthiest People’ was out. Despite his maiden appearance in the rankings, this man had the best year of all billionaires. 
 
At 31, not only is Zuckerberg the world’s fifth-richest person with a net worth estimated to be $56.7 billion, but also the owner of a $7 million Palo Alto mansion spread over 5,617 square feet. He owns at least four cars - Acura TSX, Honda Fit, Pagani Huayra and VW Golf GTI, and plans to build a palace on the 750-acre tract he picked up on the beautiful Hawaiian island of Kauai for $100 million two years ago. 
 This is a life of a <keyword id="25931" type="COMPANY" weightage="100" keywordseo="billionaire">billionaire</keyword>, and everyone wants to own that life. Who minds a couple of swanky cars, a huge bungalow, a large farmhouse for vacations, and of course, money to buy anything you keep your hands on. 
 
You may not have everything Zuckerberg has at 31 years of age, but you really have to do a lot of things right now to end up with all of this by the time you retire. 
 Here are tips and notes that can help you plan smart while you are still young and take you a long way ahead, if you really want to <keyword id="1620505" type="UNKNOWN" weightage="100" keywordseo="retire-rich">retire rich</keyword>: 
 
1. Be wise and keep a track on your spends 
Often we spend money on things we may not even use. So, be gentle on the wallet before you make any transaction and check how you can be more efficient in managing your expenses. 
 
2. Always keep an emergency fund handy 
Saving money can prove to be your biggest asset. Creating a separate account where you can deposit a fixed amount of money every month can be a really good idea. This is your liquid cash which will come to your rescue when you face any sort of contingencies. 
 
3. <keyword id="47916" type="UNKNOWN" weightage="100" keywordseo="invest">Invest</keyword> smartly 
Keeping all your money in one place may not prove to be fruitful. You could try to divulge them into a mix of stocks and bonds, or in mutual funds which have a variety of stocks and bonds. This will not just prove profitable, but help you save on taxes too. By your late 20s, you should be able to set aside some money just to make these investments. 
 
4. With a salary hike, maximize investments and minimize expenditure 
It is human tendency to want to shell out more money for entertainment in times of a salary hike. But, you are using the extra money efficiently only when your investments are increasing proportionately, not your expenditure. 
 
5. Investing in real estate can never go out of fashion 
Buying a property is a one-time investment, but with far-fetched results. It is a source from where you can get a fixed amount of money even long after you retire because returns from this asset you create will only increase with time. When you take off from your career, you can just sip your margarita and relax. 
 
6. Don’t just try to cut expenses, instead find ways to make more money 
If you are constantly thinking of new ways to earn, you won’t have to live like a miser. Take up a freelancing gig and stash that money aside as your savings. 
 
7. Get professional advice Before taking huge <keyword id="420203" type="UNKNOWN" weightage="100" keywordseo="investment-decisions">investment decisions</keyword>, it won’t harm to take professional consultation with financial advisors. They know the plans that will suit you best so that you can stock enough finances to have a rich post-retirement life. 
 
8. Investing money is an art, learn it 
This is why DSP BlackRock Mutual Fund has set up a system wherein you can consult their financial advisors so that you can invest your money in SIPs and Mutual Funds in the correct set of portfolios to reap enough for a lifetime. 
 Sounds perfect for a <keyword id="25452" type="UNKNOWN" weightage="100" keywordseo="retirement">retirement</keyword> plan, right? Now you can start dreaming about your bucket list! 
 
(Image Credits: Flickr)

8 things you must do now if you wish to retire as a Billionaire

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div></div></div>Bill Demas, the CEO of demand-side platform (DSP) Turn, is leaving the company amid suggestions that the ad-tech firm has run into financial problems.A senior ad-tech industry source told Business Insider that Turn has run into "cash issues," which led to Demas' departure.A Turn spokeswoman confirmed that Demas will step down as the CEO of the company, once a successor has been named."This was a mutual decision between him and the Board, and is happening in a coordinated, planned matter over a period of several months. A search is underway and we'll announce more details once a successor is appointed," the spokeswoman said in an e-mailed statement.Our source also suggested that Turn had recently been shut off from Microsoft <keyword id="35666" type="COMPANY" weightage="100" keywordseo="advertising">Advertising</keyword> for not paying its bills and that the company had been "quietly laying people off."When asked about the company's supposed financial issues, a Turn spokeswoman responded: "Turn raised $80 million in funding last year, continues to invest in future growth, and is also actively recruiting. Turn also continues to work with all its partners including Microsoft Advertising, to provide its customers with the widest choice of inventory and data partners."Turn's senior vice president of marketing Paul Alfieri <a href="http://adage.com/article/digital/turn-ceo-bill-demas-parting-ways-company/298226/">did not hint at any financial difficulties when he told AdAge</a>: "Bill built a profitable and sustainable company. And we're growing, end of story."Turn <a href="http://www.bloomberg.com/news/articles/2014-01-13/turn-raises-80-million-in-funding-in-round-led-by-blackrock">raised $80 million in a funding round led by asset management company BlackRock</a> in January last year at a valuation of around $650 million. But Turn is still not profitable "despite successes selling into agency and marketer organizations," a <a href="http://adexchanger.com/platforms/ceo-bill-demas-is-out-at-turn/">source familar with the company told AdExchanger</a>.Since last year, much within the ad-tech industry has changed: After a series of high-profile ad-tech IPOs between 2013 and 2014, <a href="http://adage.com/article/print-edition/ad-tech-stocks-hammered-wall-street-ipo-market-dries/297035/">there has been just one since</a>. And companies including <a href="http://www.businessinsider.com/fiksu-scraps-ipo-plans-and-announces-layoffs-2015-4">Fiksu</a> and <a href="http://www.businessinsider.com/rocket-fuel-layoffs-2015-4">Rocket Fuel</a> have recently announced layoffs.A separate ad-tech industry source told Business Insider: "Turn looks to be in trouble. They raised too much cash, have no window for an exit, and they have zero-visibility in this space. They have late stage funding from some pretty aggressive private equity firms who are running out of patience. This is the start of an ad-tech shake-out. There are very few suitors and no IPO opportunities in sight. And worst of all, most of them are not profitable after years and years of building out this model." Turn seems to have come a rapid way down from just last year when it raised its big funding round and was ranked as the <a href="http://www.businessinsider.com/hottest-pre-ipo-adtech-startups-2014-3?op=1">fourth "hottest pre-IPO ad-tech company" by Business Insider.</a> It was pegged to generate $500 million in revenues this year. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/seth-godin-fear-success-2015-4">Why fear is the one emotion that will help you succeed </a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="h1bmptdDo44gkbkFMsHVaOT03bTojE2b" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

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