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Pre-owned e-commerce platform <keyword id="4306161" type="General" weightage="20" keywordseo="CARS24" source="Orion">CARS24</keyword> on Monday saw some high-profile exits, including its global <keyword id="238078" type="General" weightage="100" keywordseo="cto" source="Orion">CTO</keyword> <keyword id="1603349" type="General" weightage="80" keywordseo="jitendra-agrawal" source="Orion">Jitendra Agrawal</keyword> and <keyword id="6355515" type="General" weightage="20" keywordseo="business" source="Orion">business</keyword> head <keyword id="14490738" type="General" weightage="80" keywordseo="kingshuk-sanyal" source="Orion">Kingshuk Sanyal</keyword> who have left the company to pursue other things. In a LinkedIn post, Agrawal who joined the company in July 2021, said he will be moving on from CARS24 in the next few months. "I joined CARS24 with a specific goal to help the team scale multiple countries at once - a particularly challenging task because, as an eCommerce company with complex execution, we built each country like an independent startup. We also did it all at once," he said. "I will be forever attached to this mission of helping consumers experience a delightful way of buying and selling cars, and wish the team the very best in scaling new heights," Agrawal added. CARS24 Chief human resources officer <keyword id="641795" type="General" weightage="20" keywordseo="mrinal-sinha" source="Orion">Mrinal Sinha</keyword> has also put in papers. The used car marketplace, set for an IPO, in May announced that around 600 employees were let go based on their poor performance and not owing to any "cost cuts". Calling it "business as usual", the company, which has nearly 9,000-strong workforce, and is in the process of hiring more globally, said its business is actually growing in <keyword id="3658" type="General" weightage="20" keywordseo="india" source="Orion">India</keyword>, the Middle East, Australia, and Southeast Asia. "This is business as usual as these are performance-linked exits that happen every year," the company said in a statement. In December last year, CARS24 closed a $400 million round of funding, including a $300 million Series G equity round alongside $100 million debt from diversified financial institutions. The platform was valued at $3.3 billion, about double the valuation from its previous round in September 2021. The company recently announced the launch of seven 'Mega Refurbishment Labs' (MRLs) in India -- an industry first, and one MRL in the UAE which is among Dubai's largest ever commercial leasing deals. "CARS24 has aggressive plans for 2022. We are witnessing greater acceptance amongst customers across the globe for our platform when purchasing their next car," Vikram Chopra, Co-founder &amp; CEO, CARS24 had said. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/tcs-infosys-wipro-salary-in-2022-at-3-lakh-crore/articleshow/92957422.cms">IT biggies spent 62% of revenues on wages in FY22, salary bill at ₹3 lakh crore</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/sony-bravia-xr-x90k-65-inch-review/articleshow/92959498.cms">Sony Bravia XR X90K 65-inch review</a>

CARS24's top brass including its global CTO and business head quit

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With its latest offering,<keyword id="143842" type="UNKNOWN" weightage="60" keywordseo="Mobikwik">Mobikwik</keyword> doesn’t want to limit you to pay or receive Mobikwik cash but it is open to integrating with other e-wallets like <keyword id="6357120" type="UNKNOWN" weightage="20" keywordseo="PayTM">Paytm</keyword>. 
 
Not just that, Mobikwik ‘lite’ is claiming to be India’s lightest mobile wallet only taking up 700 kb on your phone. This app can prove to be a gamechanger after demonetization, for a majority of Indians who might have a basic smartphone but not an email address. 
 
<a href="http://www.businessinsider.in/EXCLUSIVE-Inside-Paytm-the-first-24-hours-after-demonetization/articleshow/55581182.cms">ALSO READ: EXCLUSIVE: Inside Paytm, the first 24 hours after demonetization</a> 
 <keyword id="1132860" type="UNKNOWN" weightage="60" keywordseo="Bipin-Preet-Singh">Bipin Preet Singh</keyword>, CEO &amp; Co-founder of Mobikwik explained <a href="http://www.businessinsider.in/The-5-people-you-should-have-in-your-startup/articleshow/55582908.cms">how this is going to work.</a> “We already have five e-wallets on our platform namely Pesa, Oxigen, Pockets, PayZapp and SBI Buddy. What this means is that the customer can use any of these wallets to pay through Mobikwik to a merchant.” 
 “Currently working with 2G or even Edge connectivity, <keyword id="3896202" type="UNKNOWN" weightage="20" keywordseo="Mobikwik-Lite">Mobikwik Lite</keyword> will soon work without any net connectivity too, thereby addressing all the challenges being faced by the masses in accessing wallet payments, from language to connectivity or quality of smartphones,” <keyword id="6361419" type="PERSON" weightage="20" keywordseo="Singh">Singh</keyword> said. This lightweight app is expected to be a free service for the merchants and customers until March 2017. 
 
Mrinal Sinha, COO, Mobikwik said, “After demonetization, we realized that we wanted to get as many people online as possible, from merchants to consumers. This move is to make digital payments through internet or SMS available to all. In theory, this will disrupt the market as it could replace POS devices.'' 
​ 
<a href="http://www.businessinsider.in/MobiKwik-launches-a-light-lite-app-to-integrate-all-Indians/articleshow/55662642.cms">The completely offline app is expected to launch in 10 days. E-commerce partnerships have been doing really well for the company, as it moves towards its goal of becoming profitable by mid-2018.</a> 
 
“80% of our e-commerce partnerships are profitable even after the cashback. Recharge and bills are breakevens for us,” claims Singh.

	 
	Maybe, partnering with other e-wallets makes sense on the way to profitability in the newly digitized market.

	 
	Whether it is going to be survival of the fittest or the lightest, only acquisitions will tell.

EXCLUSIVE: Mobikwik is willing to partner with other e-wallets
like Paytm

He was the alt superstar of Bangla cinema in its glory years, the affable Bhadralok icon who crafted a towering stature ironically banking on down-to-earth, believable characters that represented middle-class Bengal. The brand of stardom was in stark contrast to the other shining luminary of contemporary cinema in the state -- Uttam Kumar -- whose position as Mahanayak in the Bengali psyche was primarily cemented in idol worship and mass hysteria. Soumitra Chattopadhyay -- Chatterjee to anglicised India -- answers to the term ‘phenomenon' as absolutely as few actors do, for the sheer ease with which he defied the cliches of image. His stardom was sensational, and yet born out of realism. He was the mascot of the peerless <keyword id="14969" type="PERSON" weightage="20" keywordseo="Satyajit-Ray">Satyajit Ray</keyword>'s oeuvre, having worked with the maestro in 14 films, and yet he scored with the same assuredness in works of contemporary commercial powerhouses as Ajoy Kar and Tarun Mazumdar. He is the Dadasaheb Phalke Award (2012) and Padma Bhushan (2004) recipient who was also honoured with the Legion d'Honneur (2018) in France for his contribution to world cinema. Importantly, Soumitra Chattopadhyay's greatness as a screen icon will survive the test of time in Bengali pop lore because he had something for everyone. For, he was not just Satyajit Ray's Apu. Beyond such a nuanced portrayal, he could also simply become Ray's Feluda and reach out to every audience, eight to 80. It took a Ray to bring to life Soumitra's greatness, and yet the account of their first meeting is a well-known story in Bengal. Ray was looking for his adult Apu in "Apur Sansar", final part of the Apu trilogy that started with "Pather Panchali". A friend introduced Soumitra to the master filmmaker who promptly declared the budding actor looked too old to be Apu, a college student according to his script. Soumitra would eventually bag the role opposite Sharmila Tagore, of course, and the rest is history. Soumitra's cinematic fate is overwhelmingly dictated by the great cinema of Satyajit Ray, so much so the maestro's filmography through his most important phase outlines the actor's career graph. Soumitra made his debut with "Apur Sansar" (1959) and, over the next three decades, would work in Ray projects as "Devi" (1960), "Teen Kanya" (1961), "Abhijan" (1962), "Charulata" (1964), "Kapurush O Mahapurush" (1965), "Aranyer Din Ratri" (1969), "Ashani Sanket" (1973), "Sonar Kella" (1974), "Joy Baba Felunath" (1978), "Hirak Rajar Deshe" (1980), "Ghare Baire" (1984), "Ganashatru" (1989) and "Shakha Proshakha" (1990). It was a filmography that Ray, one of the world's greatest filmmakers ever, shared with his chosen on-screen emissary. But if Ray worked with Soumitra 14 times, almost every major filmmaker the actor collaborated with also tended to repeat him. If anything, beyond underlining his credential as an artiste that fact stands a testimony to his professionalism and disposition as a human being. Consider a few other diversely prolific filmmakers beyond Ray who worked with Soumitra, and you get the picture. Mrinal Sen, another global icon of Bangla cinema of the era, directed Soumitra for the first time in "Punascha" (1961), and then again returned to collaborate with the actor in "Pratinidhi" (1964), "Akash Kusum" (1965), and "Mahaprithibi" (1991). The iconic Tapan Sinha directed him in projects as "Kshudhita Pashan" (1960), "Jhinder Bandi" (1961), "Atanka" (1984) and "Antardhan" (1992). Mainstream titans of his era loved working with the affable Soumitra, too. Asit Sen directed him in "Swayambara" (1961) and Swaralipi (1961), while Ajoy Kar made "Otol Joler Ahoban" (1962), "Saat Pake Baandha" (1963), "Barnali" (1963), "Kaanch Kata Heere" (1965) and "Parineeta" (1969). Tarun Mazumdar directed the actor over the years in "Ektuku Baasha" (1965), "Sansar Simante" (1975), "Ganadevata" (1978), "Agomon" (1988) and "Path O Prasad" (1991). Most of his directors have often spoken about the insatiable passion he had for his craft. It was something that ensured he would stay busy as ever till his last days, essaying character roles with the same enthusiasm with which he executed starring roles in his heydays. His 300-plus film career probably can be explained by his highly adaptable quality as an actor. He was at home working with new-age Bengali filmmakers as Atanu Ghosh ("Mayurakshi"), Suman Ghosh ("Podokkhep", "Peace Haven", "Dwando", "Basu Paribar"), Partha Chakraborty ("Samantaral") and Nandita Roy and Shiboprosad Mukherjee ("Posto"). He did move outside Bengal into Bollywood domain twice. In 1986, he acted opposite Roopa Ganguly in the Hindi short film "Nirupama", based on Tagore's story "Dena Paona". He also had a role in the 2002 release, "Hindustani Sipahi", based on Utpal Dutt's renowned Bangla play "Pherari Fauj". These though were temporary departures. For most parts, his staggering career is based on his Bengali filmography. It is a body of work that has given him recognition beyond the National Award as Best Actor ("Podokkhep"). He also received the Sangeet Natak Akademi Award in 1998. Although his greatness lies in his body of work before the camera, Soumitra did try his hand at filmmaking, too. His directorial effort "Stree Ki Patra", a telefilm based on Rabindranath Tagore's "Streer Patra" released in 1986. The film starred Roopa Ganguly and Usha Ganguly. That the legacy of Bangla cinema's Grand Old Man was established in his lifetime is obvious from the number of GenNow actors who have followed in his footsteps. Young talents in the Bengali film industry of today such as Parambrata Chattopadhyay and Abir Chatterjee have fashioned their careers in the lines of Soumitra, seeking stardom without losing connect with Bengali middle-class realities. These are actors who have carved a niche in what is today known as the multiplex cinema circuit, catering content-driven entertainment of refinement, removed from the cliches of kitsch. It is something Soumitra relished doing all those decades ago.

Soumitra Chatterjee – the journey from being Satyajit Ray’s Apu to one of India’s finest actors

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Almost all the students at the <keyword id="57604" type="CITY" weightage="100" keywordseo="iit-delhi">IIT Delhi</keyword> and <keyword id="6356383" type="ORGANIZATION" weightage="20" keywordseo="JNU">JNU</keyword> campus are using e-wallets to survive the cash-crunch demonetisation days. Do they have an option? 
 
While on one side Modi government's move has adversely impacted the common man's life making it a daily struggle to make payments, on the other hand it has proved to be a boon for dital payment platforms who have encashed this opportunity in the best possible ways. 
 
AT IIT and JNU, you can see students using MobiKwik mostly, because the digital payments app has partnered with entities across these colleges to help college students pay for daily meals and basic amenities at the campus using its mobile wallet seamlessly. 
 <keyword id="298418" type="PERSON" weightage="20" keywordseo="Mayank-Jain">Mayank Jain</keyword>, an IIT Delhi student said - "We have classes, submissions and placements. There is no time to stand in an ATM queue for 4 hours to get a Rs 2,000 note. If you see our campus, most stalls and shops have Mobikwik. So we have downloaded the app to make small payments here and there in the campus." 
 Meanwhile, <keyword id="3955219" type="UNKNOWN" weightage="20" keywordseo="nikhil-chandran">Nikhil Chandran</keyword>, a student in JNU says - "I was technologically challenged at some point of time. But now the need of the hour is to have a e-wallet in your phone. After I tried it, I was surprised at how seamless payments could get. I suggest we should use these apps in our daily lives, not just to sail through the demonetisation days." 
 
 Mobikwik Chief Operating Officer Mrinal Sinha said - “We are proud to support India’s leading universities, where students from across the world come to study. Our association will facilitate digital payments for students, making their life hassle-free.” 
 
JNU has around 7,304 students studying at the University. Meanwhile, IIT Delhi has about 7,784 students.

This is how students at IIT Delhi and JNU are surviving the cash crunch days of demonetisation

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After eCommerce firms, now the online wallet and payment companies are trying their best to reserve a space for themselves in the promising Indian market. Almost every other day, we get to hear a lot about these companies’ new initiatives for wooing customers as well as retailers. And now, companies like <keyword id="6357120" type="UNKNOWN" weightage="20" keywordseo="PayTM">Paytm</keyword> and <keyword id="143842" type="UNKNOWN" weightage="20" keywordseo="Mobikwik">Mobikwik</keyword> have gone a step ahead and joined hands with local kirana stores to expand their arms into semi-urban and rural areas. These are the areas that are considered as <a href="http://www.businessinsider.in/E-wallets-will-actually-be-a-burden-for-the-banks-not-a-boon/articleshow/47984502.cms">underserved by banks</a>. 
 
According to a recent Economic Times reports, these companies are offering attractive rewards and are motivating customers to convert their money into wallet money at the local kirana stores. The idea is to get rural clients. Penny Gillespie, research director for electronic and mobile commerce at Gartner, USA says, “Rural clients are important to digital wallet suppliers for the market size and need for convenience. 
 
Enabling these rural clients also increases the appeal of the <a href="http://www.businessinsider.in/You-might-soon-be-able-to-shop-up-to-Rs-25K-via-mobile-wallets-Paytm-asks-RBI-to-raise-cash-limit-for-the-same/articleshow/48110055.cms">digital wallet</a> to merchants and increases the number of payment transactions that are processed by gateways and PSPs, which is how gateways and processors make their revenue." 
 
Amit Lakhotia, Paytm vice-president of payments also shared similar thoughts. He said, “The idea is to primarily promote adoption among users who are reluctant to use digital payment methods or are unable to access them.” 
 
On the record, the <a href="http://www.businessinsider.in/Digital-wallets-becoming-popular-among-consumers-reveals-RTI/articleshow/48233920.cms">online wallet and payment service</a> company, backed by Chinese eCommerce biggie Alibaba has recently partnered with Hyderabad-based <keyword id="2411000" type="UNKNOWN" weightage="20" keywordseo="NumberMall">NumberMall</keyword> to pull at least 15,000 kirana stores in its network as cash points where users can easily top-up their Paytm wallets. 
 NumberMall founder and CEO <keyword id="3032679" type="UNKNOWN" weightage="20" keywordseo="Kiran-Kumar-Gali">Kiran Kumar Gali</keyword> says, “Users who come for topping up their wallets are mostly students who do not have bank accounts, are active smart phone users and rely heavily on rewards and cash-back from the wallet for online purchases.” Gali further informed the media that the tie-up is a month old. 
 
Payment wallet Mobikwik had recently announced a similar tie-up with assisted ecommerce player StoreKing, which installs kiosks in retail and mobile recharge stores in rural areas across southern India. 
 
"We are trying to understand the usage pattern for customers in rural areas and to ease converting cash into wallet money. We are working on a model in Delhi and Mumbai, which will be soon launched in other cities where users can click a button on the Mobikwik app and get their wallets recharged on payment of cash to an agent at their doorstep," said Mrinal Sinha, COO of Mobikwik. 
 
<a href="http://www.businessinsider.in/searchresult.cms?query=Mobikwik+">Mobikwik </a>has 20 million wallet users while, Paytm has 100 million wallet users. 
 
"We are currently running a pilot in Bandra (Mumbai) with 30 kirana stores to accept payment through the Citrus Pay wallet. In case of large retail chains, the adoption of wallet to pay is low due to the cumbersome process," said Jitendra Gupta, founder of Citrus Pay. 
 
Gillespie said digital wallets have the capability to exclude banks if the wallet accepts cash payments for reload. 
 
Image: paytm.com

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Now refill your Paytm wallet at the nearest kirana store

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