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The online news and views platform <a href="http://www.businessinsider.in/searchresult.cms?query=investment">YouthKiAwaaz has received a funding</a> of Rs 4 crore from <keyword id="2767233" type="UNKNOWN" weightage="20" keywordseo="Quintillion-Media">Quintillion Media</keyword>. Founded by <keyword id="433912" type="PERSON" weightage="20" keywordseo="Raghav-Bahl">Raghav Bahl</keyword> and <keyword id="2767688" type="UNKNOWN" weightage="20" keywordseo="Ritu-Kapur">Ritu Kapur</keyword>, Quintillion Media is a cross-platform digital content venture. 
 
As reported by The Economic Times, the media firm is planning to use the funds in expansion of its business model, team and also to revamp the current technology it is using. 
 <keyword id="3041434" type="UNKNOWN" weightage="20" keywordseo="YouthKiAwaaz">YouthKiAwaaz</keyword> founder <keyword id="3041778" type="PERSON" weightage="20" keywordseo="Anshul-Tewari">Anshul Tewari</keyword> has said, "YouthKiAwaaz is a completely people-driven digital media platform. With veterans like Raghav Bahl and Ritu Kapur on board as partners, we feel both privileged and excited to start a new and even more adventurous phase in pushing this generation's opinions to the front." 
 
As per Tewari, the website receives over a million readers a month and has contributions from over 30,000 writers from across India and the world. 
 
"In a short period of time, they have managed to carve a niche for themselves in the digital media space by creating a people-driven digital media platform. We find their content to be high on both appeal and quality, which is a fine balance to strike," said Kapur, co-founder of Quintillion Media. 
 <keyword id="120226" type="COMPANY" weightage="20" keywordseo="BMR-Advisors">BMR Advisors</keyword> and Novistra Capital acted as the principal advisors for the transaction. 
 
Quintillion Media, which was founded in late 2014 and launched operations in March this year, has made a couple investments earlier as well. In August, it backed Sheroes.in which is a jobs and career community for women. 
 
"Globally, the digital hand-held space is not more than two years old and we prefer early-stage deals, because it's fun to grow alongside these opportunities," said Bahl. 
 
Quintillion Media usually looks to invest about $1 million (Rs 6.6 crore) each in start-up ventures, he said. 
 
Bahl, the founder and former managing director of <a href="http://www.businessinsider.in/searchresult.cms?query=Network18">Network18</a>, sold stake in the company to Mukesh Ambani-led <keyword id="6355199" type="CITY" weightage="20" keywordseo="Reliance-Industries">Reliance Industries</keyword> in May 2014 in a deal that reportedly earned him Rs 700 crore. <keyword id="187715" type="COMPANY" weightage="20" keywordseo="Network18">Network18</keyword> competes with The Times Group, the publisher of The Economic Times. 
 
 Image: twitter

Raghav Bahl’s Quintillion Media invests in YouthKiAwaaz

New Delhi, Nov 15 () Markets regulator Sebi on Friday said that no open offer needs to be made due to various agreements involving investment by Independent Media Trust (IMT) of funds received from a Reliance entity into Network 18 companies.
It was alleged Reliance Industries Ltd (RIL) in the guise of executing investment agreement or so called Zero Coupon, Optionally &amp; Fully Convertible Debentures (ZOCDs) agreement, indirectly acquired control over Network 18 without following the procedure prescribed under the Takeover Regulations.
 In February 2012, ZOCD agreement was entered into by and between six private limited companies (together termed as holding companies) owned and controlled by IMT, Raghav Bahl and his wife in their individual capacity.
Under the ZOCD agreement, IMT was to invest funds received from Reliance Industrial Investments and Holdings Limited by subscribing to the ZOCDs of the holding companies and these holding companies were obliged to utilise ZOCD subscription amount for subscribing to the rights issue of NW18 &amp; TV18.
 Further, in November 2011, a pact called Single Unit Agreement (SUA) was entered between Bahl group of entities and IMT to act as largest Indian shareholders of NW18. Meanwhile, the share purchase agreement between the parties was inked in May 2014.
 In an order passed on Friday, Sebi said, "The ZOCD agreement read independently or combined with the SUA, it does not trigger an open offer. The trust deed does not confer the powers of a trustee to RIL."
 The regulator also noted that appellant -- Victor Fernandes and Sangeeta -- made mutually contradictory claims with regards to these agreements, which reveals that "the appellant's sole aim is to make an ambiguous case for obtaining higher gains by way of the open offer price. This is therefore not the claim of a genuinely aggrieved or disadvantaged investor".
 The ruling comes following a directive by the Securities Appellate Tribunal (SAT)that asked Sebi to pass an order by the end of November in the matter after the two Fernandes sought further direction from the tribunal. 
 In 2015, RIL had completed the open offer for Network 18 group companies. RIL's unit IMT made an offer to acquire 21.96 per cent of voting capital in Network18, IMT also made an open offer for a 26 per cent stake in TV18 Broadcast Ltd. SP
MKJ

Network 18 case: Sebi says no open offer needed on investments involving IMT

Finance Minister <keyword id="129243" type="PERSON" weightage="20" keywordseo="Nirmala-Sitharaman">Nirmala Sitharaman</keyword> called startups the ‘strength of India’ as she pushed “job seekers” to turn “job creators”. In a big move, employees at startups who have stock options will be exempt from tax if they leave the company or sell their shares in the first five years. She proposed the tax relief given to startups. Earlier, a startup with turnover up to ₹25 crores was allowed 100% tax deduction on profits for seven years. The budget also proposed to expand it on two counts that can include older startups and those which are larger too. Here are some top reactions: Neelesh Talathi, CFO, Pepperfry 
 
 <div type="image" title="Neelesh Talathi, CFO Pepperfry" msid="73843354" hostid="261" caption="&amp;lt;p&amp;gt;Neelesh Talathi, CFO Pepperfry&amp;lt;br&amp;gt;&amp;lt;/p&amp;gt;"></div>





 “The Finance Minister has been empathetic about no tax harassment, resolving litigations. Resolving credit issues, app-based working capital solutions and more strategic aspects like National Logistic Policy are all initiatives that address core issues of our MSME sector.” “While these efforts will help boost the economy, it is imperative to arrest slippage in the Fiscal Deficit. To augur investment in our economy an aggressive disinvestment agenda, reforms including that of the government machinery etc. would have been welcome." <keyword id="258109" type="PERSON" weightage="20" keywordseo="Mayank-Kumar">Mayank Kumar</keyword>, Co-founder and MD of upGrad 
	
 
 <div type="image" title="Mayank Kumar" msid="73843449" hostid="261" caption="&amp;lt;p&amp;gt;&amp;lt;strong&amp;gt;Mayank Kumar, Co-founder and MD of upGrad&amp;lt;/strong&amp;gt;&amp;lt;br&amp;gt;&amp;lt;/p&amp;gt;"></div>





 We at upGrad believe that upskilling is the critical route to steer India towards becoming a $5 trillion economy. But I would have been happier if the Government had taken steps to encourage investment in reskilling among professionals by allowing them a tax-break privilege under Section 80C from the Income Tax Act, 1961, like that of Mutual Funds or Life Insurance." Kunal Bahl, CEO &amp; Co-founder, <keyword id="541988" type="COMPANY" weightage="20" keywordseo="SnapDeal">Snapdeal</keyword> 
	
 
 <div type="image" title="kunal snapdeal" msid="73843509" hostid="261" caption="&amp;lt;p&amp;gt;Kunal Bahl, CEO &amp;amp;amp; Co-founder, Snapdeal&amp;lt;/p&amp;gt;"></div>





 “We are thankful for accepting the start-up sector's request for ESOP taxation reforms. Also, the higher time &amp; turnover limits for carry forward of losses for start-ups will enable them to optimize growth decisions in formative years." Overall, <keyword id="7836802" type="UNKNOWN" weightage="20" keywordseo="Budget-2020">Budget 2020</keyword> is a thoughtful weaving together of specific proposals to tackle varied issues. Measures to improve access to finance for MSMEs and reduced taxation for the middle-income segment are welcome steps. Boosting physical infrastructure, expanding digital connectivity and growing use of technology in government functioning are important building blocks for the long-term growth of the Indian economy." Vivek Goyal, Co-Founder, PlayShifu 
	
 
 <div type="image" title="play" msid="73843683" hostid="261" caption="&amp;lt;p&amp;gt;Vivek Goyal, PlayShifu&amp;lt;/p&amp;gt;"></div>





 "One of the core reasons behind a successful startup is the ability to hire from a very talented pool and to keep them motivated during the long and hard journey of scaling. This is the reason why startups from hubs like Silicon Valley grow up to become world-renowned and add value to society at large. The tax deferment on ESOPs will prove to be one of the significant factors and levers in motivating growth-enabling employees, a great step in helping startups in India to scale by hiring and retaining them! Reforms like these give more power to the Indian startup hub to make a mark on a global scale and contribute towards India's $5 Trillion vision by 2025." Raghav Gupta, Managing Director, India and APAC, Coursera 
	
 
 <div type="image" title="coursera" msid="73843748" hostid="261" caption="&amp;lt;p&amp;gt;Raghav Gupta, Managing Director, India and APAC, Coursera&amp;lt;/p&amp;gt;"></div>





 “It is a progressive budget that acknowledges the role technology can play in addressing challenges and improving access to quality higher education and employment opportunities for India's youth. Government's announcements related to the development of emerging technologies like AI, ML, Data Analytics ecosystem in the country and skilling opportunities for the youth, clearly reflect the focus on preparing the youth for jobs of tomorrow." <keyword id="36872" type="PERSON" weightage="20" keywordseo="Vamsi-Krishna">Vamsi Krishna</keyword>, CEO &amp; Co-founder, Vedantu 
	
 
 <div type="image" title="Vamsi Krishna, CEO and Co-founder of Vedantu" msid="73843907" hostid="261" caption="&amp;lt;p&amp;gt;Vamsi Krishna, CEO &amp;amp;amp; Co-founder, Vedantu&amp;lt;/p&amp;gt;"></div>





 “The vision of making education accessible to the farthest corner of the country will greatly benefit students. The allocation of budget to hone the skill sets of teachers and educators will positively impact quality learning and thereby provide a boost to the education sector. Additionally the allocation of budget to BharatNet will also have a deep impact on skilling rural India as it has the potential to open up online learning to students and professionals from remote villages. With better bandwidth internet, a qualified teacher located in a metro city can impart LIVE online classes to students in small town India, where there’s a dearth of quality education. Technology will soon disrupt the entire concept of the classroom and make it an extremely personalized, one to one teaching-learning experience tailored for each mind.” Ola Mobility Institute “The clean-air fund of Rs 4,400 crores to be provided in the form of incentives to be notified by MoEFCC should consider measures to link the incentives to the electrification of vehicles and associated infrastructure such as battery-swapping and charging." Padmaja Ruparel, Founding Partner, IAN Fund “The budget 2020 represents a big win for the country’s startup ecosystem. The Government has paid heed to our concerns and rolled out reforms like a 5 year tax holiday for ESOP. This positive sentiment is evident in the Government’s drive to roll out “no tax harassment” policies along with the establishment of the investment clearance cell for assisting entrepreneurs in India." See also: <a href="https://www.businessinsider.in/budget/news/startup-esops-to-be-non-taxable-for-five-years/articleshow/73824551.cms">Good news for startup employees - your ESOPs won’t be taxed for five years</a> <a href="https://www.businessinsider.in/budget/news/ikea-furniture-and-jimmy-choo-shoes-will-get-costlier-after-budget-2020/articleshow/73841697.cms?src=hp_latest">IKEA furniture and Jimmy Choo shoes will get costlier after budget 2020</a> <a href="https://www.businessinsider.in/budget/news/new-education-schemes-reforms-policies-in-budget-2020/articleshow/73836166.cms?src=hp_latest">Budget 2020: Indian education sector will now get students and funds from foreign lands</a>

This is how top startup founders reacted to budget 2020

<ul><li>Gurugram-based home services startup <keyword id="2811049" type="PERSON" weightage="20" keywordseo="UrbanClap">Urbanclap</keyword> plans to launch in 4 Indian cities in the next quarter. </li><li>The startup recently announced its plan to expand to Abu Dhabi.</li><li>Two new services – men’s grooming and on-demand maid for cleaning – which are currently live in Delhi will soon be launched across India. </li></ul>Urbanclap was a small startup based out of Gurugram in 2014, offering home services digitally. Today, it has operations across 10 cities in India, Dubai and Abu Dhabi. It recently announced its Abu Dhabi expansion, and plans to grow its UAE business twice over, on a monthly basis. What’s more, the company has plans to become a ₹100 billion company! In an interview with Business Insider, <keyword id="3012564" type="PERSON" weightage="20" keywordseo="Varun-Khaitan">Varun Khaitan</keyword>, co-founder, Urbanclap said that there are many plans in store for their India business as well. Urbanclap will soon launch in four more cities by the next quarter. Two new services – men’s grooming and on-demand maid for cleaning – which are currently live in Delhi will be launched across India. “Our investments are on constantly improving the business,” said Khaitan. Profitability vs Scale UrbanClap recently raised ₹16 million from Flipkart CEO Kalyan Krishnamurthy, according to paper.vc, a business intelligence firm. It has marquee investors like Ratan Tata, SAIF Partners, Accel Partners and Bessemer Venture Partners on board, and raised a total funding of $110 million. The startup has about 6 lakh users per month with 20,000 service professionals on-board. But the main question is – how far is profitability? “If we want to, we can turn profitable in the next three months. Instead, we want to invest in our future and build our scale to one day make Urbanclap a ₹100 billion company,” said Khaitan. Recently, Urbanclap <a href="https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/urbanclap-revenue-up-309-losses-down-25-in-fy18/articleshow/64008938.cms?from=mdr">reported </a>a 309% jump in its operational revenue to ₹450 million for 2017-18. The losses however were at ₹750 million. “In the last three years, our jump in revenue has been significant while the losses in quantum have remained flat. The amount of burn remaining flat with revenue increases, is a sign of scale. If you want to keep growing, you will have to be investing for tomorrow’s growth,” said Khaitan. An offer they couldn’t refuse All the founders Abhiraj Bahl, Raghav Chandra and Khaitan, came back from the US hoping to build a business. They had the common goal of solving a problem for the masses. After extensive research, the idea of helping people run their homes appealed to them. They also realized that professionals like electricians and beauticians too barely make any money due to middlemen or employers. “We realised very early on that the problem that we were solving was not just building a marketplace and connecting users. We ended up removing the middlemen and transitioning these employees or service professionals into microentrepreneurs,” said Khaitan. Service professionals like electricians, beauticians and carpenters had nothing to complain as Urbanclap made them an offer they couldn’t refuse. “We told them you keep 80% of the earnings, Urbanclap will keep 20%. Overnight their earnings went up. Today, every other service professional through Urbanclap earns makes an average of ₹40,000 per month. Hundreds of our beauticians make more than ₹1 lakh a month,” said Khaitan. Making a difference to professionals also improved service quality to consumers. When they started, the founders were hoping to have at least 100 users per day, by the end of 2015. However, they had 1000 per day. The founders got what they wanted – solving a systemic problem in the country – as opposed to building a business, to sell and chill in a yacht. See Also: <a href="https://www.businessinsider.in/EXCLUSIVE-This-Indian-startup-has-made-a-profit-solving-1100-police-cases-with-just-one-round-of-funding/articleshow/69871636.cms">EXCLUSIVE: This Indian startup has made a profit solving 1,100 police cases with just one round of funding</a>

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Raghav Bahl’s Quintillion Media invests in YouthKiAwaaz

BI India Bureau

Network 18 case: Sebi says no open offer needed on investments involving IMT

PTI

This is how top startup founders reacted to budget 2020

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INTERVIEW: Urbanclap claims it can turn profitable in 3 months but it won’t – here’s why

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