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News on Medial
PhonePe’s billion-dollar year: A war chest to fight super app wars
Inc42
·
1y ago
Medial
PhonePe, the Bengaluru-based fintech giant, is gearing up for a big year in 2024 as it aims to grow sustainably and show profits. The company has secured a significant amount of funding and launched various new products, positioning itself as a strong player in the super app battle. With a focus on lending, insurance, app development, digital commerce, and investment tech, PhonePe is poised for success. As it prepares for a potential IPO, PhonePe's deep pockets and strategic moves indicate that its era is just beginning.
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TA Associates-backed OmniActive Health prepares war chest for acquisitions
VCCircle
·
1y ago
Medial
OmniActive Health Technologies, a nutraceutical ingredient maker backed by TA Associates, is preparing to make acquisitions. The Indian company has set aside a war chest of INR 250 crore to INR 400 crore for potential deals. OmniActive Health Technologies specializes in creating integrated ingredients for the nutraceutical industry.
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Perplexity AI’s Aravind Srinivas poses ‘Million Dollar Question’, instead of Super Bowl ad in marketing gamble—Details
Livemint
·
5m ago
Medial
Aravind Srinivas, CEO of Perplexity AI, opted for a unique marketing strategy during the Super Bowl by launching "Perplexity's Million Dollar Question" campaign. Participants can win $1 million by downloading the Perplexity app and asking at least five questions during the event. This contest, available only to U.S. residents over 18, aims to boost user engagement and brand visibility, contrasting with traditional Super Bowl ads like OpenAI’s debut.
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Learnt at Flipkart to keep war chest ready: Sachin Bansal
Inshorts
·
1y ago
Medial
Flipkart Co-founder Sachin Bansal said he learnt during his time at the e-commerce platform that capital is useful and one should "have a war chest ready always". He stated that his fintech startup Navi does not need money but is open to private equity investment. "It's always good to have capital to absorb the shocks," he added.
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A new era of high-tech war has begun
Livemint
·
1y ago
Medial
The war in Ukraine, the largest in Europe since 1945, is reshaping the understanding of combat. It points to a new kind of high-intensity war that combines advanced tech with industrial-scale killing. Key lessons include battlefield transparency, massive physical involvement, and a wide, indistinct boundary of conflict. Hyper-transparency is making reconnaissance crucial. Wars still involve huge human and machine masses, causing significant casualties. Civilians, allies, and private firms are deeply involved. To prepare, Western countries must reinvigorate their alliances, address legal and ethical issues tied to civilian participation, and ensure that no company becomes a single point of failure in war efforts.
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Garmin’s new heart rate tracker pairs nearly perfectly with sports bras
The Verge
·
1y ago
Medial
The Garmin HRM-Fit chest strap offers a comfortable and practical solution for sports bra wearers. Unlike traditional chest straps that wrap fully around the chest, the HRM-Fit features three clips that latch onto the sports bra band, providing a more secure fit without additional pressure. This design change makes wearing the chest strap more enjoyable and prevents underboob sweat. While it works best with medium- to high-support sports bras and may not be compatible with front-zip or underwire bras, it offers accurate heart rate monitoring. However, it may not be as easy to use with third-party smartwatches or outside of Garmin's platform. The strap is priced at $149.99.
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Chinese ecommerce platform Temu drawing shoppers from US dollar stores
Economic Times
·
1y ago
Medial
Temu, a Chinese ecommerce platform, is gaining market share in the United States, competing against dollar stores like Dollar General. As of last month, Temu accounted for nearly 17% of the market share in the discount stores category, compared to 8% for Five Below, 43% for Dollar General, and 28% for Dollar Tree. Temu offers low-priced household goods and consumer staples, appealing to budget-conscious shoppers. The platform is expected to generate over $16 billion in revenue this year and is benefiting from shoppers' fatigue with high prices and inflation.
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Tata to lock horns with Groww, Zerodha in the wealthtech space soon
Inc42
·
1y ago
Medial
Tata Digital's financial services arm, Tata Fintech Private Ltd., is planning to launch stock trading and mutual fund investment offerings on its super app, Tata Neu, in the next few months. The move will pit the Tata Group against discount brokerages like Zerodha and Groww. Tata Digital has been working on these offerings for the past year and recently acquired a stock broking license. The investech space is expected to grow at a CAGR of 30%, reaching a market size of $74 billion by 2030.
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Zomato to launch District app for dining out, events, ticketing biz
Economic Times
·
11m ago
Medial
Gurugram-based food and delivery platform, Zomato, has launched a new app called District dedicated to its going-out business. The company has been focusing on expanding its verticals, which include dining out, live events, and ticketing. Zomato has been looking to capture consumer demand in various categories like food, grocery, and entertainment. The going-out business reported a gross order value of Rs 1,268 crore for the April-June quarter, a growth of 106% year-on-year. Zomato aims to build "super brands" instead of "super apps", in line with the preferences of Indian consumers.
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Tata Neu’s two more senior executives resign within four months
Inc42
·
1y ago
Medial
Tata Digital's ecommerce superapp Tata Neu is set to see two more senior executives, Pavan Podila and Samir Aksekar, leave the company in the coming weeks. Podila, the chief software architect, and Aksekar, the chief information security officer, joined in 2021. The company did not comment on their next move. This comes after other senior executives have also resigned in the past year, leading to leadership reshuffling within Tata Digital. The Tata Group is reportedly planning a $1 billion investment in its super app venture, Tata Neu.
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Temu is trying to win over America. Good luck.
Business Insider
·
1y ago
Medial
Chinese online marketplace Temu is making a big push to conquer America, with a multi-billion dollar advertising campaign during the Super Bowl. Temu's 30-second ad slots, estimated to cost $7 million each, totaled about three minutes of screen time during the game, reaching an audience of over 123 million viewers. The company aims to achieve scale in the West, following the success of rivals Shein and TikTok. Despite facing challenges such as a drop in sales and competition from Shein, Temu continues to invest heavily in marketing to dominate the US market.
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