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<ul><li>India’s home-grown social network ShareChat is looking for its next round of investment, and Google may reportedly shell out $150 million to $200 million. </li><li>Even <keyword id="10387" type="CITY" weightage="20" keywordseo="Microsoft">Microsoft</keyword> has expressed its interest in ShareChat while chasing <keyword id="6762469" type="UNKNOWN" weightage="20" keywordseo="TikTok">TikTok</keyword>’s operations in the US. </li><li>Here’s why analysts think it makes sense that Google is looking to ShareChat in order to fill the gaps in its portfolio. </li></ul>Global tech giants are on the hunt for the next big social network. Facebook has rolled out Instagram Reels and Microsoft is looking to get its hands on the real deal by acquiring TikTok’s US business. Meanwhile, in India, Google is trying to finally get a piece of pie by investing in the country’s home-grown social networking platform, ShareChat. Neither Google nor ShareChat have commented on the <a href="https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/google-in-talks-with-sharechat-as-latter-scouts-for-150-200-million/articleshow/77582440.cms">Economic Times</a> article, which claims that the companies are in the preliminary stages of negotiating an investment between $150 to $200 million. Nonetheless, analysts believe that Google’s interest in the local-language network will fill in the missing pieces it has in its portfolio. “It’s very well possible that ShareChat will eventually get rebranded as something else for global markets,” founder and CEO of Greyhound Research, Sanchit Vir Gogia told Business Insider. What is ShareChat? ShareChat is a social networking platform, which, within itself, has a TikTok alternative — called <a href="https://www.businessinsider.in/tech/news/sharechats-tiktok-rival-moj-crosses-5mn-downloads-on-google-play/articleshow/76811384.cms">Moj</a> — that has <a href="https://www.businessinsider.in/business/startups/news/sharechat-rides-on-the-ban-on-apps-from-china-with-15-million-downloads-in-36-hours-but-is-itself-backed-by-chinese-investors/articleshow/76728139.cms">gained traction</a> since the ban on Chinese apps was announced in India. “This will enable Google to have a shot at its social networking ambitions but as of now, we see it as a strategic investment if it happens,” said counterpoint analyst Tarun Pathak. <div type="Article" hostid="261" msid="77062280" title="Instagram, Facebook, YouTube and Sharechat see substantial increase in time-spent after the ban on Chinese apps: Kantar" mstype="2" mssubtype="0"></div> The investment would not just give Google an opportunity to make headway in the social networking game, but also allow it to leverage ShareChat’s <a href="https://www.businessinsider.in/business/news/users-created-over-100-mn-pieces-of-hindi-content-in-2019-sharechat/articleshow/72965102.cms">vernacular content</a>. It already lost out to Facebook in the west. ShareChat could provide the tech company its second coming. The Indian social network is currently the fastest growing local language social media platform in India with support for 14 Indian languages and more than 60 million active users. It’s one of the reasons that even Microsoft is <a href="https://www.businesstoday.in/current/corporate/microsoft-in-prelim-talks-with-sharechat-indian-app-for-100-million-dollars-investment/story/412337.html">reportedly</a> looking to buy it even though it already has a monopoly in the professional networking space with LinkedIn. For ShareChat, an investment from Google would mean an investment by the ‘king of search engine optimisation’ (SEO), he explained. Brands pump in money where searchability is best — the more searchable a platform’s content is, the more likely it is to go viral. TikTok set the tone for social networks to travel from East to West The success of TikTok is only one case study on how the next big global social network won’t start out in the US or Europe but in Asia. But an app that’s popular in India will have a lot of users while being unable to general a lot of money. Indian users are diverse but they don’t like to spend online. “India is not a very high revenue market right now but it is a great testbed market from features, functionality and languages perspective,” said Gogia. Even with TikTok, one-third of its users were from India but the <a href="https://www.businessinsider.in/tech/apps/news/tiktok-made-more-money-than-any-other-app-in-july-despite-losing-its-largest-overseas-market/articleshow/77369131.cms">majority of its revenue was still from China.</a> Test local, make money global Many companies like Microsoft and Google already test drive their products in India and other countries before taking them to the US. According to Gogia, Google’s interest in ShareChat could very well be an attempt to drive innovation from a low-risk country and take it across broader global networks. If you look at it from Google’s point of view, it will be able to use the abundance of data to train its algorithms and artificial intelligence (AI) models in a very big way. “These models can then be taken into other countries from a monetisation perspective,” explained Gogia. Investing in ShareChat fits in perfectly with Google wanting a piece of the pie in India’s rising digital adoption. “This will give them rich insights on how the next half a billion first time internet users will embrace the internet and help in tweaking their services accordingly and not to forget the indirect benefits to their core advertisement segment,” said Pathak. SEE ALSO: <a href="https://www.businessinsider.in/tech/apps/news/the-heat-is-on-mark-zuckerberg-in-india-as-facebook-and-whatsapp-incur-the-ire-of-modis-rivals/articleshow/77575358.cms">The heat is on Mark Zuckerberg in India as Facebook and WhatsApp incur the ire of Modi's rivals</a> <a href="https://www.businessinsider.in/tech/apps/news/not-only-gmail-google-drive-meet-slides-docs-sites-groups-chat-keep-voice-services-also-facing-issue-as-per-google/articleshow/77652103.cms">Google Drive, Docs, Meet and others are working again after being out of service for over six hours</a> <a href="https://www.businessinsider.in/tech/apps/news/microsoft-is-ending-support-for-the-legacy-internet-explorer-but-its-only-going-to-affect-less-than-5-of-online-users/articleshow/77607727.cms">Microsoft is ending support for the legacy Internet Explorer — but it's only going to affect less than 5% of online users</a>

Google eyes India’s ShareChat as Microsoft goes after TikTok in the US — here’s why it makes sense

<ul><li>With this partnership, <keyword id="3358959" type="PERSON" weightage="20" keywordseo="ShareChat">Sharechat</keyword>, and its video platform <keyword id="8678883" type="UNKNOWN" weightage="20" keywordseo="moj">Moj</keyword>’s users will be able to access T-Series’ library of thousands of songs to create videos.</li><li>In early July, Sharechat launched Moj – its TikTok rival product, right after the Chinese app was banned by the Indian government. </li><li>The Sharechat and T-Series deal comes days after <keyword id="6354576" type="UNKNOWN" weightage="20" keywordseo="facebook">Facebook</keyword> and <keyword id="106741" type="CITY" weightage="20" keywordseo="Saregama">Saregama</keyword> signed a similar partnership.</li></ul>Sharechat, the Indian homegrown social media app, has inked a licensing deal with T-Series. With the partnership, Sharechat, and its video platform Moj’s users will be able to access T-Series’ library of thousands of songs to create videos. This is the first of its kind partnership for T-Series. “We are delighted to partner with ShareChat, and this association sets a fresh beginning between us and the social media platforms. This moment celebrates the contribution of great music to social media, and we commend ShareChat for respecting the copyrights. It's great to see ShareChat agree with our philosophy,” said Bhushan Kumar, Managing Director, T-Series. In early July, Sharechat had launched Moj – its TikTok rival product, right after the Chinese app was banned by the Indian government. “Music brings out the best of emotions and nostalgia to our users as they share their creativity on our platform. Our partnership with T-Series would help our community of users to access thousands of songs from the T-series catalogue on ShareChat and Moj to express their emotions and share content in amazing new ways," said Berges Y Malu, Director, ShareChat in a statement. According to reports, Sharechat is also in talks with Google and Microsoft for a deal that could ramp up its valuation to over $1 billion, from the current $650 million. A new awakening for India’s music labels The popularity of social video sharing platforms has led to a new avenue of partnerships for India’s oldest music labels. The Sharechat and T-Series deal comes days after Facebook and Saregama signed a similar partnership. Saregama has over 100,000 songs across genres including, film songs, devotional music, ghazals &amp; indipop in more than 25 languages. And these songs can be accessed by Facebook and Instagram users. “Millions of Facebook users will be able to add music from our vast catalogue to stories and videos they create and share,” Vikram Mehra, Managing Director of Saregama India had said. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/ola-electric-plans-to-hire-2000-co-founder-bhavish-aggarwal-says-electric-two-wheeler-launch-soon/articleshow/77755149.cms">Ola Electric plans to hire 2000 — co-founder Bhavish Aggarwal says electric two-wheeler launch soon</a>

After Facebook-Saregama deal, Sharechat and T-Series partner up for a music licensing deal

<ul><li><keyword id="2721952" type="General" weightage="20" keywordseo="crypto" source="Orion">Crypto</keyword> — not stocks — is going to be the asset-class of choice, Lightspeed Ventures said.</li><li>Lightspeed is not alone. Business Insider spoke to a few other VC firms like Pi Ventures and Speciale Invest to understand the rationale for big money chasing crypto.</li><li>Big investors with $100 trillion of capital are getting into <keyword id="6357017" type="General" weightage="20" keywordseo="cryptocurrency" source="Orion">cryptocurrency</keyword>, according to a Bloomberg report dated November 13.</li><li>Check out the latest news and trends in cryptocurrencies on<a href="https://www.businessinsider.in/cryptocurrency"> Business Insider</a>.</li></ul>At a time when the bigger part of the investment community is still cautious, US-based venture capital firm Lightspeed — whose popular investments include OYO, ShareChat and Epic Games — says crypto, not stocks, is going to be the asset-class of choice for the new-to-investing millennials in India and South East Asian markets. Lightspeed has already invested multi-million in blockchain technology, including cryptocurrencies, like FTX, Wintermute, Zerion, DeversiFi and Blockchain.com as of August 2021. “There is a lot more fiat (currency) that is outside of crypto entering crypto so yields in crypto are likely to stay high for the foreseeable future, and that might mean that for the foreseeable future, those that look for high yields — often the younger investors — will gravitate to crypto,” Hemant Mohapatra, partner at Lightspeed, told Business Insider. The venture capital firm believes that the high rate of interest, coupled with crypto regulation being a part of mainstream politics, are just a couple of factors that are going to attract more investors towards this value creation opportunity. “In India as well, years of regulatory pushback has begun to ease off, starting with the Supreme Court of India overturning a prior directive by the Reserve Bank of India (RBI) prohibiting banks from dealing with cryptocurrencies,” Hemant Mohapatra, partner at Lightspeed, said in a<a href="https://medium.com/lightspeedindia/lightspeeds-india-sea-crypto-landscape-7038eaa473e"> blog post</a>. ALSO WATCH: Crypto is crying for regulation because the ads are misleading <div type="javascript" title="Custom" contenttype="Video"><cdata><![CDATA[ ]]></cdata></div> Lightspeed is not alone in being bullish about crypto According to a <a href="https://www.bloomberg.com/news/audio/2021-11-13/big-investors-with-some-100-trillion-are-getting-crypto-curious">report</a> published by Bloomberg on November 13, institutional investors with a capital of $100 trillion are interested in investing in crypto. Global cryptocurrency monthly trading volumes have also significantly increased in 2021, growing from $271 billion in June quarter of 2020 during the first wave of covid to $2.2 trillion in May 2021. An advertisement by Indian Crypto exchanges, launched in November 2021, said that Indians have ₹6 lakh crore invested in cryptocurrencies triggering a spate of social media conversations on the topic of their legitimacy. <div type="image" title="The partner at a VC firm backing OYO, ShareChat and Epic Games explains why it’s betting big money on crypto ⁠— and he’s not alone" msid="87710484" hostid="261"></div> The craze of crypto currencies is also imminent in India, as one in six urban Indians intend to invest in these virtual tokes in the next six months, according to a consumer research firm <a href="https://www.financialexpress.com/brandwagon/16-urban-indians-currently-own-cryptocurrency-kantar-study/2338566/">Kantar</a>. This has the potential to eat into the larger investment pie according to Shubham Sandeep, principal at investment firm Pi Ventures (known for backing startups like Locus, Agnikul and Google-backed Wysa). This cannot be defined as a capital outflow but more like an opportunity lost for equity investments. “The last generation wanted to invest in real estate, then came the generation of 90s-2010s when their investments went into equity and over the next 10-20 years, the upcoming generation will get their first exposure on investment through crypto,” Sandeep added. He noted that investments are not being diverted from equity to crypto as of now. The volatility of the crypto market has allowed investors to maximise their profits from this underregulated segment. It is also getting much earlier to use these virtual currencies for varied uses. “But it is not for the faint hearted,” Sarabjot Singh Anand, director of computer science and engineering at School of Engineering and Technology, adds. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" 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;">Companies </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;">Percentage growth in 2021 to date </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;">Bitcoin </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;">127.7% </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;">Ethereum </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;">555% </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;">Binance Coin </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;">1628% </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;">Solana </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;">53% </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;">Cardano </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;">1,071% </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;">Doge </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;">4,614.22% </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> The market still has a long way to go, Avinash Shekhar, co-CEO of ZebPay and a member of Blockchain and Crypto Assets Council (BACC), noted. The remarkable growth and returns of cryptocurrencies is the major reason why $8 billion was invested in this crypto and blockchain domain in 2021 so far. Indian companies — CoinDCX, Coinswitch Kuber and others — have raised half a billion dollars this year as well. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" 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;">Company </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;">Fundraise </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;">Investors </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;">FTX </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;">$900 million </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;">Paradigm, Sequoia Capital, Ribbit Capital </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;">Circle </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;">$440 million </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;"> Fidelity Management and Research Company, Marshall Wace, Digital Currency Group </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;">Ledger </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;">$380 million </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;">10T Holdings, Cathay Innovation, Draper Esprit, Draper Associates, Draper Dragon, DCG </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;">BlockFi </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;">$350 million </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;">Bain Capital Ventures, partners of DST Global, Pomp Investments, Tiger Global </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;">Solana Labs </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;">$314 million </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;">Andreessen Horowitz, Polychain Capital, Alameda Research </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> “Cryptocurrencies undoubtedly have the potential to give high returns, but as they say, there is no free lunch. So the high returns come with greater risk.... I personally feel that crypto will become part of most institutional and individual portfolios which will see money flowing out of stocks but stocks will continue to remain an important part of any portfolio,” he added. Regulation is not necessarily a bad thing The India Parliament is <a href="https://www.cnbctv18.com/cryptocurrency/govt-likely-to-move-cryptocurrency-bill-in-parliaments-winter-session-work-on-to-modify-bill-11385552.htm">reportedly</a> planning to debate a new bill on the cryptocurrency bill in the Winter Session. You can read the highlights of what the bill is likely to propose <a href="https://www.businessinsider.in/cryptocurrency/news/indias-crypto-bill-will-still-have-a-few-hurdles-to-clear-before-becoming-a-law-even-if-the-cabinet-approves/articleshow/85397358.cms">here</a>. “Government has pulled back from a blanket ban and we do expect, and welcome, thoughtful regulation to bring crypto safely and broadly to the masses in ways that allows the benefits of crypto to see into tradfi [Traditional Finance] and avoids the common pitfalls and risks that this emerging ecosystem presents,” Mohapatra said. Arjun Rao of Speciale Invest — an investor in The ePlane Company, RocketLane and others — echoed the same, highlighting there is a greater scope of innovation in crypto as well. “We expect more innovation in crypto and conducive regulation to be the main drivers of increase in crypto investing in the coming years, the impact of macro economic trends (like rise in inflation) is harder to predict,” he told Business Insider. SEE ALSO: <a href="https://www.businessinsider.in/science/news/blue-origin-teaches-space-tourists-who-land-in-the-desert-what-to-do-if-their-rocket-lands-next-to-a-cactus/articleshow/87698700.cms">Blue Origin teaches space tourists who land in the desert what to do if their rocket lands next to a cactus</a> <a href="https://www.businessinsider.in/stock-market/news/elon-musk-sold-nearly-7-billion-worth-of-tesla-stock-this-week-and-says-hes-incurring-higher-taxes-on-purpose/articleshow/87699239.cms">Elon Musk sold nearly $7 billion worth of Tesla stock this week - and says he's incurring higher taxes on purpose</a> <a href="https://www.businessinsider.in/tech/news/former-spacex-engineer-accuses-company-of-racial-discrimination-denying-its-claims-that-he-was-fired-for-making-inappropriate-facial-expressions/articleshow/87699444.cms">Former SpaceX engineer accuses company of racial discrimination, denying its claims that he was fired for making inappropriate facial expressions</a>

The partner at a VC firm backing OYO, ShareChat and Epic Games explains why it’s betting big money on crypto ⁠— and he’s not alone

<ul><li><keyword id="691847" type="PERSON" weightage="20" keywordseo="Google-Cloud">Google Cloud</keyword> has appointed <keyword id="2776926" type="PERSON" weightage="20" keywordseo="Bikram-Singh-Bedi">Bikram Singh Bedi</keyword> as its new India Managing Director.</li><li>Bedi’s appointment comes as Google Cloud had recently elevated its India head Karan Bajwa as the Vice President of Google Cloud in Asia Pacific.</li><li>Bedi was the man who set up Amazon Web Services in India and led the vertical for six years long.</li></ul>Google Cloud has appointed Bikram Singh Bedi as its new India Managing Director. Interestingly, Bedi was the man who set up Amazon Web Services in India and led the vertical for six years long. Bedi’s appointment comes as Google Cloud had recently elevated its India head Karan Bajwa as the Vice President of Google Cloud in Asia Pacific. Right before joining Google Cloud, Bedi was the President Strategy and New Initiatives of Indian grocery startup Grofers. At Google, Bedi will be responsible for leading Google Cloud’s sales and operations teams in this dynamic market. “I’m excited about this new challenge and I look forward to extending Google Cloud’s momentum in India. The true test of 2021 will be how enterprises will leverage cloud computing to modernize and scale for growth and Google Cloud is committed to help them accelerate their digital transformation to build a strong foundation for the future,” said Bedi. The India cloud market is ramping up with players like Microsoft, Amazon, Google, IBM all looking for a share in the segment. The overall India public cloud services market is likely to touch $7.4 billion by 2024 growing at a CAGR of 22.2% for 2020-24, said a report by International Data Corporation. And Google has been making its presence felt in the segment with clients like industry leaders Wipro, TVS to startups like Sharechat. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/interview-a-hedge-fund-manager-explains-where-to-invest-when-nothing-is-cheap-in-india/articleshow/80682629.cms">INTERVIEW: A hedge fund manager explains where to invest when nothing is cheap in India</a> <a href="https://www.businessinsider.in/business/corporates/news/kishore-biyani-says-sebi-ban-wont-stop-future-group-deal-with-reliance/articleshow/80680781.cms">Kishore Biyani says SEBI ban won't stop Future Group's deal with Reliance</a>

Bikram Singh Bedi, the man who set up AWS in India, has now joined Google Cloud

<ul><li>The second edition of the <keyword id="12701966" type="General" weightage="80" keywordseo="burgundy-private-hurun-india" source="Orion">Burgundy Private Hurun India</keyword> 500 report featured <keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword>’s 500 most valuable companies with combined sales of $820 billion. </li><li>The highest amount of funding was received by edtech platform BYJU’s, according to <keyword id="3656834" type="General" weightage="80" keywordseo="hurun-india" source="Orion">Hurun India</keyword>. </li><li>As per the IVCA-EY Report, PE/VC recorded investments worth $8.3 billion in India in Q3 <a href="https://www.ey.com/en_in/news/2022/10/pe-vc-investments-and-exits-decline-by-69-percent-and-48-percent-respectively-in-3q22">2022</a>, declining 69% y–o-y. </li></ul>The second edition of the Burgundy Private <keyword id="1846161" type="General" weightage="100" keywordseo="hurun" source="Orion">Hurun</keyword> India 500 report featured India’s 500 most valuable companies with combined sales of $820 billion. While many large startups have raised public funds last year, many new-age companies also feature in the list of most valuable companies funded by private equity and venture capital investors. “In the long run, start-up value creation is going to significantly increase the velocity of companies entering the future editions of the Burgundy Private Hurun India 500,” said Anas Rahman Junaid, MD and Chief Researcher, Hurun India. He also added that public markets listing, which is considered a litmus test for valuations, has ended up becoming a poisoned chalice for a few. Some of the biggest value shedders in the list are start-ups such as <keyword id="161885" type="General" weightage="50" keywordseo="policy-bazaar" source="Orion">Policy Bazaar</keyword>, <keyword id="6357120" type="General" weightage="80" keywordseo="paytm" source="Orion">Paytm</keyword>, <keyword id="830092" type="General" weightage="80" keywordseo="zomato" source="Orion">Zomato</keyword> and Nykaa which lost 68%, 59%, 50% and 48% respectively in value since last year. “This trend is a clear indication that start-up valuations based on “2021 parameters” in private markets are up for a bumpy ride,” Junaid said. As per the IVCA-EY Report, PE/VC recorded investments worth $8.3 billion in India in Q3 <a href="https://www.ey.com/en_in/news/2022/10/pe-vc-investments-and-exits-decline-by-69-percent-and-48-percent-respectively-in-3q22">2022</a>, declining 69% y–o-y. Here are the 10 companies with the maximum funding by private equity and venture capitalists (PE/VC) investors, as per the Burgundy Private Hurun India 500 report. 1. BYJU's (2011) Total Funding: ₹47,680 crore BYJU’s is the only edtech company to feature on the list. In October this year, the decacorn laid off 2,500 employees to consolidate its businesses. The same month, it raised $250 million from existing investors. <ol><li><keyword id="6354720" type="General" weightage="80" keywordseo="ola" source="Orion">Ola</keyword> (2010) </li></ol>2. Ola (2010) Total funding: ₹41,110 crore The Bengaluru-based ridesharing company Ola was planning to launch its IPO this year but it has been delayed. Ola is among the 19 companies included in the transport and logistics industry by Hurun. 3. Paytm (2010) Total funding: ₹39,460 crore The Noida-based digital payments and financial services company ranked third on the list. In 2022, Paytm performed strongly on expansion of loan disbursement with reported<a href="https://www.businessinsider.in/business/corporates/news/paytms-net-loss-widens-by-20-yoy-to-571-crore-in-q2-but-down-sequentially/articleshow/95369930.cms"> improvement</a> in earnings before interests, taxes, depreciation and amortisation. 4. OYO (2012) Total funding: ₹32,880 crore The Gurugram-based multinational hotel chain is the only startup from the hospitality industry to feature on this list. OYO has over 157,000 storefronts and its app crossed the 100 million download mark in 2021. 5. Swiggy (2014) Total funding: ₹29,600 crore Founded in 2014, the food-delivery start-up Swiggy ranked fifth on the list. The 8-year-old startup with headquarters in Bengaluru has already spread to 500 Indian cities. 6. Zomato (2010) Total funding: ₹20,550 crore The Gurugram-based food delivery startup Zomato, which took the sixth position on the list, witnessed a slew of resignations by top executives in 2022, including co-founder Mohit Gupta’s resignation. 7. Sharechat (2015) Total funding: ₹13,980 crore Founded in 2015, Google and Temasek Holdings owned Sharechat is an Indian social media enterprise based in Bengaluru. It also came up with alternatives to Tiktok in India, like Moj and Moj Lite. 8. Dailyhunt (2007) Total funding: ₹13,980 crore Coming under the media and entertainment industry, Dailyhunt is owned by VerSe Innovation. It raised $805 million in funding this <a href="https://yourstory.com/2022/04/funding-dailyhunt-verse-innovation-investment-local-language">year</a>. The content aggregation platform is available in 14 Indian languages and was founded in 2007. 9. Dream11 (2008) Total funding: ₹13,320 crore Dream11 is India’s first fantasy sports company to become a unicorn in 2019. Its co-founder <a href="https://twitter.com/harshjain85/status/1589609986677964800?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1589609986677964800%7Ctwgr%5E39e7abf60b9ff6ace3d2ab2149125f463accc799%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fwww.wionews.com%2Fbusiness-economy%2Findia-dream11-co-founder-offers-jobs-to-people-fired-from-twitter-meta-and-others-533728">Harsh Jain </a>offered jobs to laid off employees at Meta and Twitter this year. Founded in 2008, the company deals with over 13 crore users playing fantasy cricket, football, hockey, handball etc on the platform. 10. PharmEasy (2015) Total funding: ₹13,150 crore PharmEasy is an e-pharmacy company founded in 2015 that sells medicines and medical essentials online. The Mumbai based company is the only company from the healthcare industry on this list. 11. Udaan (2016) Total funding: ₹13,150 crore Bengaluru based B2B e-commerce platform Udaan shared the tenth spot with PharmEasy. Udaan enables companies, especially small and medium enterprises, to sell their products online. Amid a startup capital crunch, it also raised $120 million in convertible notes and debt in October <a href="https://www.businessinsider.in/business/startups/news/amid-startup-funding-crunch-udaan-raises-120-million-and-plans-ipo-after-a-year/articleshow/95122956.cms">alone</a>. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/byju-oyo-ola-serum-swiggy-among-top-10-valuable-unlisted-companies-in-india/slidelist/95910460.cms">Serum Institute of India, BYJU’S, Ola, OYO among top 10 valuable unlisted companies</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/reliance-industries-emerges-as-top-company-in-terms-of-value-revenue-and-profits-in-hurun-2022-list/articleshow/95910143.cms">Adani may be the richest Indian but Ambani’s RIL retains the top spot on Hurun's list of most valuable companies</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/top-10-companies-based-on-highest-revenue-in-india-as-per-hurun-report/slidelist/95910204.cms">Top 10 companies in India with the highest revenue in 2022, according to Hurun</a>

BYJU’s, Zomato, Dream11 among India’s most valuable PE/VC-funded companies as per  Hurun

<ul><li>With one Gold, two silver and four bronze, India recorded its best-ever medal haul at the Tokyo Olympics this year, which ended on Sunday.</li><li>As the Tokyo Olympics came to an end, we talk to experts to find out who will land the most <keyword id="6359405" type="UNKNOWN" weightage="20" keywordseo="brand">brand</keyword> endorsement deals, and whether the new players will become as attractive to brands as someone like <keyword id="501707" type="ORGANIZATION" weightage="20" keywordseo="PV-Sindhu">PV Sindhu</keyword>.</li></ul>This year at the Tokyo Olympics, Mirabai Chanu, Neeraj Chopra, Ravi Kumar Dahiya, PV Sindhu, Lovlina Borgohain, Bajrang Punia brought joy to a billion hearts by bringing home one gold, two silver and three bronze medals. India’s hockey team also clinched a bronze after 41 years. This was the first time that India has managed to secure seven medals across varied sporting events. India also had the largest contingent ever of 127 athletes travelling to Tokyo who participated in 69 cumulative events across, the highest ever for the country. With this historic win, underrepresented athletes and sports are back in the limelight in the endorsement world. Indian brands also made sure that they leave no stone unturned in celebrating our athletes and their glorious win. The first athlete to bring back a medal for India this year was 26-year-old weightlifter, Mirabai Chanu. Shortly after her win, she was also offered free pizza for life by <a href="https://twitter.com/dominos_india/status/1418934590950027269">Domino's </a>and the brand garnered a lot of attention from the press and the internet for this gesture. Hospitality brand <a href="https://twitter.com/rohitisb/status/1424620158929162243">OYO </a>also offered women’s hockey team a chance to stay at any of their hotels in India. Apart from that, small start-ups to masters like Amul, brands made the most of our gold-winning moment at the global stage to congratulate Neeraj Chopra, who became independent India’s first Olympian to win a medal in athletics/track and field. According to Facebook, Neeraj Chopra was the second most mentioned athlete on its platform across the globe, whereas on Instagram, he was the most mentioned athlete globally. Over the years, we have seen brands spend the most on players from popular sports like cricket. While athletes get some screentime in ads closer to tournaments like Olympics, very few brands have long-term deals with most of these athletes, unless it is someone like a PV Sindhu, who has been around for a while now and has won many accolades and tournaments for the country. So with the curtains falling on Tokyo Olympics and the next Olympics games still being three years away, will brands bring the newer winners or even players who came really close to bringing medals home? This year, however, many of the athletes have received a lot of attention from brands. It was not just Sindhu or Neeraj Chopra, who aren’t new to the endorsement world; other new medalists Mirabai Chanu, Ravi Kumar Dahiya, Lovlina Borgohain and Bajrang Punia have also received an overwhelming response. Slowly and steadily, brands in India are branching out from cricket and looking to associate with budding sports stars to connect with the youth. We spoke to experts to find out who will land the most brand endorsement deals among the six medalists and hockey team. Aviral Jain- Managing Director, Duff &amp; Phelps - A Kroll Business said, “We think it will be a combination of both, though PV Sindhu now carries the tag of “She did it again,” which is unique and privileged. Other non-cricketing sports celebrities such as Hima Das, T. Gopi, Manika Batra, and Deepika Kumari have recently done well in terms of brand endorsements, driven by their splendid individual achievements on the field. Major brands like PepsiCo (PV Sindhu, Neeraj Chopra and Hima Das), Tanishq (Manika Batra and Deepika Kumari), and ASICS (Bajrang Punia, Sakshi Malik, etc.) have successfully associated with various non-cricketing celebrities, and with these non-cricketing wins at the Tokyo Olympics, we can surely expect a greater share of athletes in the advertisement campaigns going ahead.” Anjan Ghosh - Executive Vice President- Hansa Research also echoes these views. He said, “In all probability, more brands will sign up PV Sindhu; her brand standing has gone up substantially, having won medals in multiple Olympics. Brands that want to stand for consistency, fidelity, and grit will find Sindhu a compelling endorser. Also, those who wish to appeal to the young, aspiring women eager to achieve will try to harness Sindhu’s determination and intent and infuse these into their brand personality. The best part is that her success is not a flash in the pan; longevity is something that many brands aspire.” Sahil Chopra, Founder &amp; CEO- iCubesWire said that apart from Sindhu, India’s national sport might also gain more attention this year. “I guess it will be a mix of both known faces and new faces, but yes, the likes of PV Sindhu who have refreshed the memories, will have an edge over the new ones. Only exception to this could be hockey, being the national sport and the way it has captured people’s hearts in the past.” According to media reports, Sindhu currently has 10 deals with Bank of Baroda, Bridgestone Tyres, Visa India, Google, real estate firm Pooja Developers, Chinese sports brand Li Ning, Stayfree, PNB Metlife, Sharechat and Vizag Steel. Experts said that her brand value is likely to double after her incredible performance. But Sindhu is just getting started. The 26-year-old shuttler still has a long career ahead of her, and we expect to witness more iconic wins from her. TRA Research’s CEO, N. Chandramouli said, “PV Sindhu’s winning medals twice in succession is a phenomenal performance at the Olympics. Her value seems to have gone along with her second-time win, and would nearly double. She is young yet, and still has at least one more Olympic Games to look forward to, and so more years of sporting success ahead of her.” On whether Sindhu and Chopra will attract the most brand roles or will newer medalists also get a chance, he added, “All Olympic medal winners from India will gain, some a little more than others. The newer medalists are just starting off, so it's only natural that they will have to prove themselves consistently to see their brand value increase.” Jain also said that Sindhu’s fees and her popularity is likely to double. “Today, she is the undisputed queen of the Indian brand endorsement market (women sportspersons) with more than 10 endorsements and more than 7 million followers on social media. And we expect both the number of brand endorsements and the endorsement fee to increase significantly post her phenomenal success at the Tokyo Olympics, resulting in a significant increase in her brand value.” New-age brands are more likely to onboard the new medalists as their fees is substantially lesser than a seasoned athlete. Mirabai Chanu and Lovlina Borgohain, who recently won Silver and Bronze medals, respectively, in the Tokyo Olympics seem to have caught the attention of many brands. While Mirabai Chanu is currently associated with brands like Adidas and Mobil, her endorsement portfolio is expected to rise post her success at the Olympics. “Not all brands will look for Lovlina and Mirabai given the lesser fan-following for these sports (as compared to say badminton or hockey) – however, those brands that want to epitomize empowerment for women, a burning desire to break into the mainstream from the fringes, or stand up against many adversities may try to build a narrative around personalities like Lovelina / Mirabai. Categories that are looking for evolution through innovation / competing against the conventional might want to weave a story around such personalities – say, solar panels, unconventional energy, electric bikes etc,” said Ghosh. Is the sports ecosystem really changing? With cricket matches being limited this year, brands are banking on Olympic stars to gain consumer attention and stay relevant. However, cricket still gets the bigger piece of the pie. Sahil Chopra is eager to see a sporting ecosystem where all sports get their due, equal recognition. He said, “I would personally love to see the change and this will be good for the ecosystem as well as the audience. The current ecosystem is so cricket-centric at times it isn’t good for the brand recall when you end up seeing the same faces all the time.” Ghosh said that while there is certainly going to be a change in the fortunes of other Indian athletes/sports stars, especially with the surge in enthusiasm over sports other than cricket, and many will see better brand endorsement contracts coming their way – however, a significant difference might take more time. He said, “Not sure whether the sports marketing ecosystem has changed in a radical way – the support / patronage is still lukewarm; the efforts are still guarded. Other sports stars are enjoying higher popularity and getting better visibility but the gap with cricket is still painfully wide.” Jain told us how a marketer evaluates new endorsement opportunities looking at the extent of media coverage given to the sport, the tournament’s share in the national media broadcast, and finally, the degree of relevance a player has for the audience. So, it is important for new medalists to stay in the news. He said, “While the Indian arena has a wide range of sports being followed by the masses, cricket continues to dominate and maintain a strong hold on the endorsement front. Lately, with the advent of professional leagues (on the lines of the IPL) for other sports like kabaddi, football, badminton, etc., brands and advertisers are favorably looking at these non-cricketing opportunities. However, brand endorsements by non-cricketing sporting stars in India are largely driven by individual visibility; this is in comparison to endorsements for cricketing stars that could be “across the board.” Brands typically feature athletes for their grit, patience and determination, and this helps in targeting millennials and Gen Z who are seeking new aspirational figures. With multiple Olympic achievements this year across non-cricketing sports (badminton, hockey, boxing, wrestling and weightlifting), these sports stars will definitely get more attention going ahead.” After a historic performance at the Olympics this year, experts are hopeful that non-cricketing sports stars will also bag more brand deals. <div type="Article" hostid="261" msid="85102342" title="As PV Sindhu takes 20 brands to court for using her name and image without permission, here's how agencies and brands can be careful with moment-marketing in the future" mstype="2" mssubtype="0"></div>

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