Most advisory firms will strive to be more successful, whether it is this year or by the year 2030. To do this, most will have to significantly grow the number of total assets managed. For others the total number of clients will need to increase, which is especially true for the minority of financial planners […]
India to have more than 907 internet users by 2023: Report
India will have more than 907 million internet users by 2023, accounting for nearly 64% of the population, according to Cisco Annual Internet Report. The report has highlighted that devices and connections are growing faster (7% CAGR) than the population (1% CAGR) in the country. This trend has been boosting the growth in the average […]
India to have more than 907M internet users by 2023: Report
India will have more than 907 million internet users by 2023, accounting for nearly 64% of the population, according to Cisco Annual Internet Report. The report has highlighted that devices and connections are growing faster (7% CAGR) than the population (1% CAGR) in the country. This trend has been boosting the growth in the average […]
SoftBank’s latest fund wheeze sets off new alarms
By Chris HughesSoftBank Group Corp. became vulnerable to activist attack by Elliott Management Corp. because of the harmful noise generated by the Japanese technology investor’s giant Vision Fund. That noise just won’t die down. Sunday brought a report in the Financial Times that Vision Fund head Rajeev Misra is looking to raise a multi-billion dollar […]
B2B e-commerce firm MaxWholesale raises $3 million in new funds
Illustration: Rahul Awasthi MaxWholesale, a B2B e-commerce platform for kirana (mom-and-pop stores) has raised $3 million led by Indian Angel Network and Al Falaj Investment Company (AFI), an Abu Dhabi based private family office. Existing investor Maple Capital also participated in this round along with Infoedge’s ex-CFO Ambarish Raghuvanshi, Maple Capital’s Abhinav Grover and Biba […]
Swedish investor lowers Quikr valuation by 45%
Swedish investment firm Kinnevik has marked down the valuation of Quikr by 45% to about $570 million from more than $1 billion as of September 2019, the firm said in its annual earnings statement earlier this month. The fall in valuation comes as the Bengaluru-based online classifieds and transactions marketplace discovered fraud in its co-living […]
Bezos launches $10B fund to combat climate change
His company is often criticized for its environmental record, but Jeff Bezos, CEO of Amazon and the world’s richest man, said Monday that he was committing $10 billion to a new fund to tackle climate change. In a post to his 1.4 million followers on Instagram, the e-commerce tycoon said the Bezos Earth Fund would […]
Visa says OTP not needed for ‘routine’ transactions
Global card network provider Visa aims to phase out the twofactor authentication (2FA) process on routine card transactions during digital checkouts and replace the scrutiny layer with a riskbased prompt, where transactions deemed unusual or risky by banks would be vetted through a One Time Password (OTP) check. For this, Visa plans to hold discussions […]
Digital payments firms Paytm and PhonePe amp up marketing spends
Illustration: Rahul Awasthi Homegrown digital payment companies PhonePe and Paytm plan to spend a combined Rs 2,000 crore on marketing this year, as they look to increase awareness, credibility and promote products to a wider consumer audience, top executives at these firms said. While PhonePe has earmarked Rs 800 crore for marketing, Paytm plans to […]
Masayoshi Son’s real estate bet has some big problems
By Pavel Alpeyev and Takahiko Hyuga Last March, months before the meltdown at WeWork, Masayoshi Son worked through the prospects for another one of his favorite portfolio companies — a startup from India called Oyo. In a spacious conference hall at his Tokyo headquarters, the Japanese billionaire huddled with lieutenants from the startup and his […]