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Snap to invest more to continue conversation with young India: Snap India MD Pulkit Trivedi

Economic Times

Economic Times · 1y ago

Snap to invest more to continue conversation with young India: Snap India MD Pulkit Trivedi

Snap Inc is continuing to invest in India as it sees the country as a growth market with potential for monetization. Despite Snap's focus on North America and Europe, Snap India Managing Director Pulkit Trivedi stated that the company will invest more in the US while also investing in the momentum observed in India and the Asia Pacific region. Trivedi emphasized the digital advertising potential in India and the growing Gen Z population. With over 200 million monthly users, Snap aims to engage with brands across various industries and expand its advertiser base in India. The company is also focused on improving its ad-tech products and delivering value to advertisers.

Related News

How Is Snapchat Building Its India Growth Story?

Inc42 · 1y ago

How Is Snapchat Building Its India Growth Story?

Snap Inc., the parent company of Snapchat, is aiming to attract young Indians by offering a more personalized and less superficial social media experience. Unlike its competitors, Snap focuses on freeing users from the constant chase for likes, comments, and trolls. The company is targeting Gen Z users and differentiating itself with high-tech augmented reality camera filters. Snap's revenue in India increased by 20% in FY23, and it aims to tap into India's rising digital advertising market, which is projected to double by 2028. With digital advertising revenues on the rise, Snap hopes to capture a significant portion of India's 900 million+ smartphone user base.

Snapchat eyes GenZ cohort with personalised experiences to drive user growth

Thehindubusinessline

Thehindubusinessline · 1y ago

Snapchat eyes GenZ cohort with personalised experiences to drive user growth

Snap Inc. is focusing on attracting more GenZ users in India for its Snapchat messaging app. With India's large young population, the country presents a significant growth opportunity for the company. Snapchat offers unique features, such as AR filters and lenses, location-based feeds, and short video content, which appeal to young users. Currently, Snapchat has a user base of 200 million monthly active users in India and aims to expand further. The company also aims to tap into the Indian digital advertising market, leveraging the rise of e-commerce and influencer marketing.

In India, 200 million users is a relatively small number; we have room to grow: Snap cofounder Evan Spiegel

Economic Times

Economic Times · 1y ago

In India, 200 million users is a relatively small number; we have room to grow: Snap cofounder Evan Spiegel

Snap Inc, the parent company of Snapchat, has seen substantial growth in its Indian user base, doubling to 200 million monthly users in a year. The company aims to continue expanding its reach and is investing in monetization efforts in the Asia-Pacific region. Snap's CEO, Evan Spiegel, highlighted the company's focus on visual communication and emphasized the opportunities in India due to its young demographic. He discussed Snap's growth, AI and augmented reality, and monetization efforts in India during his visit.

Snap failed to warn users about sextortion risks, state lawsuit alleges

Livemint

Livemint · 9m ago

Snap failed to warn users about sextortion risks, state lawsuit alleges

- Internal documents reveal that Snapchat was receiving 10,000 reports of sextortion each month in November 2022, with the actual number likely being much higher due to underreporting. - Snap was informed that the combination of its young user base and disappearing messages could lead users to believe that sexting on the app was safe. - An internal marketing document acknowledged that sexting had become a regular behavior among Generation Z, presenting a challenge for Snap to promote safety without discouraging usage. - Despite concerns about sextortion, Snap claims that sexting only accounts for a small fraction of messages exchanged on the platform. - Tests conducted by New Mexico investigators and even Snap employees found fault with Snap's safety-enhancing features, including continued exposure of minors to adult strangers through its "Quick Add" friend recommendations feature. - The state accuses Snap of pursuing growth initiatives that pose risks to young users and designing features that increase engagement while hindering user self-regulation.

Edelweiss MF’s Radhika Gupta bats for SIPs again, ‘I would love to hear young people say…’

Livemint

Livemint · 10m ago

Edelweiss MF’s Radhika Gupta bats for SIPs again, ‘I would love to hear young people say…’

Radhika Gupta, MD and CEO of Edelweiss Mutual Fund, has once again taken to social media to promote systematic investment plans (SIPs). Gupta believes that SIP investments should be the new measure of wealth. She encourages young people to talk about their monthly SIP investments, stating that it should become a topic of conversation and a way to showcase financial accomplishments. In a previous video, she urged her followers to start investing in mutual funds through SIPs, emphasizing the power of these investments. Gupta also advised diversifying portfolios with "dal-chawal" funds, suggesting that 80% of the portfolio should consist of them.

Narayana Muthy's Catamaran plans to invest in precision manufacturing companies

OutlookIndia

OutlookIndia · 1y ago

Narayana Muthy's Catamaran plans to invest in precision manufacturing companies

Infosys founder Narayana Murthy's venture capital firm Catamaran is looking to expand its portfolio by investing in precision manufacturing start-ups and companies focused on exporting their products. Catamaran's chairman and MD Ranganath mentioned that while start-up valuations have come down in India, companies with good ideas and business models continue to attract investments. The firm has previously invested in notable companies such as SpaceX, Log 9, udaan, and udemy. Ranganath added that Catamaran aims to invest in companies involved in deep tech and automobile manufacturing, particularly those capable of exporting components.

India key market for MediaTek; young demographic, growing economy fuel growth: Country MD

Economic Times

Economic Times · 27d ago

India key market for MediaTek; young demographic, growing economy fuel growth: Country MD

India, with its young, tech-savvy population and growing economy, is an essential market for semiconductor giant MediaTek, according to India's MD Anku Jain. The country's strong economic growth and favorable demographics fuel adoption of advanced technologies like 5G and AI solutions. MediaTek's chipsets power various devices, including smartphones, smart TVs, and automotive solutions. The company plans to expand its R&D investments in India, emphasizing the country's engineering talent and contributing to global operations.

Bond market teaches you why even a single basis point matters a lot: A Balasubramanian

Money Control

Money Control · 1y ago

Bond market teaches you why even a single basis point matters a lot: A Balasubramanian

A Balasubramanian, MD and CEO of Aditya Birla Sun Life Mutual Fund, has had a remarkable journey in the asset management industry. Born in a small village in Tamil Nadu, Balasubramanian initially wanted to pursue a career in information technology but ended up joining the banking industry. He later joined GIC Mutual Fund as a dealer, which marked a turning point in his career. Balasubramanian has been with Aditya Birla Sun Life Mutual Fund for almost 30 years, rising through the ranks to become the CEO. Known for his management strategy and focus on building a knowledge-driven business, he has successfully steered his firm to become one of the largest AMCs in India. Balasubramanian plans to continue his village connection post-retirement and help build the careers of young students.

Snap to lay off 10% of its workforce

Economic Times

Economic Times · 1y ago

Snap to lay off 10% of its workforce

Snap Inc., the parent company of Snapchat, has announced it will be cutting around 528 employees, which accounts for 10% of its global workforce. This move reflects ongoing layoffs in the tech industry as companies continue to navigate economic uncertainties. Snap anticipates pre-tax charges ranging from $55 million to $75 million for severance and related costs, with a majority expected to be incurred in Q1 2024. This follows similar layoffs by other tech and media firms, with over 32,000 job cuts reported in 122 tech companies since the beginning of the year.

Amazon Upgrades Alexa for the ChatGPT Era

Wired · 1y ago

Amazon Upgrades Alexa for the ChatGPT Era

Amazon is upgrading its voice assistant Alexa to engage in more lifelike conversations, thanks to the technology behind OpenAI’s ChatGPT. The new Alexa will answer complex questions and have flowing, open-ended dialogue, removing the need to say "Alexa" for every command. It will exhibit simulated personality, modulate its voice, and detect when a conversation should continue or end. However, challenges remain, as large language models can generate false information or inappropriate responses. Amazon plans to continue adding new features and eventually allow Alexa to control non-Amazon devices.

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