Home Blog Page 1367

Warburg Pincus invests $100 million in boAt

By
Team My Mobile
-
0

Popular audio brand boAt has raised approximately $100 million from an affiliate of Warburg Pincus, a leading global private equity fund focused on growth investing. This investment is a landmark deal for the direct-to-consumer (D2C) industry in India as it endorses the sector’s coming of age with consumers trusting and gravitating towards brands launched online.

boAt is the No.1 brand in personal audio in India (headphones, earphones, sound-related accessories) with a rapidly emerging presence in adjacent consumer-focused, lifestyle electronics categories. Its product portfolio offers well-designed, distinctive products at attractive price points. boAt continues to achieve rapid revenue growth (100%+ over the past several years) and exhibits a strong profitability profile.

As a digitally native brand in India, boAt has consistently been breaking barriers in a sector traditionally dominated by established global brands, placing Indian brands on the global map. In addition to solidifying its position in the Indian market as the No. 1 player, boAt has also emerged as the fifth largest wearable brand globally, according to IDC data.

 

The investment by Warburg Pincus will enable the company to further fortify its leading market position, widen its R&D capabilities and product portfolio, and build on boAt’s efforts to create and support a manufacturing ecosystem under the Make-in-India initiative, enabling the manufacture of products in India.

Aman Gupta, Co-Founder, boAt, said, “We welcome Warburg Pincus as a new investor into the company. This is a vote of confidence for our business model and growth prospects. The investment is great news for not only the company but for the entire D2C sector. The investment has come at the right time as we make efforts to ramp up our manufacturing and global supply chain.”

Sameer Mehta, Co-Founder, boAt, said, “As boAt enters the next phase of growth and innovation, we look forward to benefitting from Warburg’s pedigree, collective experience and resources in helping us scale. Going forward, with the government’s support, we will focus on building capabilities in domestic R&D and undertake vertical integration across both the hearable and wearable space to establish India as a global supplier.”

Vishal Mahadevia, Managing Director and Head, Warburg Pincus India, said, “We see a compelling growth story in boAt and believe the company is well-poised to build upon the strong leadership position it has carved out within the industry and stands to benefit from the secular tailwinds of e-commerce growth in India. Warburg Pincus is excited to partner with the management team of boAt led by Aman and Sameer in this journey and we look forward to supporting them through the next phase of the company’s growth.”

Avendus Capital acted as the exclusive financial advisor to boAt and its shareholders on the transaction.

China’s Alibaba to shut down Xiami music app next month

By
Team My Mobile
-
0

Alibaba Group will close its music streaming platform Xiami Music next month, in a move that marks a step back from its ambitions to push into China’s entertainment industry.

According to some media reports, due to operational adjustments, the company will stop the service of Xiami Music by Feb 5.

Alibaba acquired the music service in 2013 and invested millions of yuan to compete in China’s online music market, which is dominated by Tencent Holdings. Its efforts however have not paid off and the app currently only has 2% of China’s music streaming market, behind KuGou Music, QQ Music, KuWo, and NetEase Cloud Music, according to Beijing-headquartered data intelligence company TalkingData.

Xiami’s closure also comes after Chinese regulators announced that they had launched an antitrust investigation into Alibaba, which beyond its core e-commerce business also operates in sectors such as financial services, cloud computing, and artificial intelligence.

However, it does not mark the end of Alibaba’s participation in the online streaming market. In September 2019, Alibaba invested $700 million in one of Xiami’s competitors, NetEase Cloud Music.

Akamai partners with MX Player to deliver seamless viewing experience to users in India

By
Team My Mobile
-
0

MX Player has partnered with Akamai Technologies, the intelligent edge platform for securing and delivering digital experiences, to provide its increasing user base in India with seamless digital experience.

Earlier in the year, MX Player was ranked by App Annie as the No. #1 streaming app in India and the onset of the pandemic saw the platform witness not just a massive boost in viewership, but also new subscribers, and a newer audience. This accelerated growth heightened MX Player’s need for infrastructure that could support the scale and availability of the app across different networks and locations.

MX Player found Akamai’s world class media delivery solution to be the right choice in order to deliver a high-quality viewing experience to their customers across different cities. The enhancement in performance and user experience was particularly pronounced in the case of MX TakaTak, a popular short video platform, that has seen a rapid surge of users, with a large portion of them coming from tier II and tier III towns.

According to Redseer, the online content consumption in India grew by 35% in April 2020 compared to January 2020. It further stated that short-form video content consumption recorded the most significant jump during the lockdown.

Vivek Jain, Chief Operating Officer, MX Player said, “In the last couple of months, our user base has increased exponentially. The demand to consume content on the go and the need for virtual entertainment amongst the middle, mass, mobile, millennial audience in India is growing faster than ever before. MX Player has seen more than 7x jump in time spent on the app. Even MX TakaTak, which we recently launched, crossed 1Bn video views per day within a month from launch and has quickly become the market leading app in the short video category. We have always obsessed about best-in-class video load times. Akamai is a pioneer in Edge distribution and its presence particularly in tier II and tier III towns has helped us deliver an unmatched viewing experience for our customers across India’s mega cities as well as the hinterlands.”

Mitesh Jain, India Sales Head, Media & Carrier Division of Akamai said, “Unprecedented demand for content coupled with rapidly evolving user behavior poses a challenge for apps trying to ensure high-quality viewing experience across a complex network topology. We are glad to have partnered with MX Player to help them scale the user base and step up to conform with user expectations of evolving Indian consumers. Given MX player’s ambition, I am sure that this is just a start and we will be accomplishing many more milestones together.”

“Up to 70%-80% of online sales are coming through mobiles”

By
Team My Mobile
-
0

StoreHippo is a pioneer in mobile commerce and the first SaaS ecommerce platform to adapt a headless web app architecture. It is designed to give brands a strong omnichannel presence, better user experience and higher sale conversions across digital touchpoints. StoreHippo’s highly flexible service-oriented architecture, powered by AI and automation, gives businesses the ability to implement diverse B2B, B2C and B2B2C business models in no time. To discuss more about the platform and the services it offers, Ramesh Kumar Raja talked to Rajiv Kumar Aggarwal, CEO and Co-founder, StoreHippo. Aggarwal is an industry veteran and highly skilled technologist with 20-plus years of strong experience in internet technologies and ecommerce. Excerpts:

The Covid-19 pandemic emerged as a blessing in disguise for the ecommerce sector. How do you look at it?

Ecommerce has already been on a growth trajectory. The adoption of ecommerce took a sudden leap with the pandemic and the safety measures in place. The pandemic made millions across the world realize how easy life could be with the right ecommerce set up in place. It also helped businesses survive the pandemic and gradually rebuild their business to grow to new markets with ecommerce. Covid-19 has definitely given a 5 year forward push to ecommerce and its adoption by customers as well as business owners.

Going digital or online is fast becoming a tool for entrepreneurs to sustain in this tough time. Do you buy this argument?

Going digital is the way out for businesses of all sizes, more so for entrepreneurs. Ecommerce not only opens up new markets for them but also makes it more cost effective.

What one should keep in mind while giving a digital makeover to his/her business?

While going digital, focus on giving the best shopping experience to your buyers. Also, go aggressive on mobile, as this is the channel which brings you the most conversions. Choose a mobile-ready solution for building your online store and apps and optimize your content, marketing and everything else around selling on mobile. Along with this go for personalization for better conversions.

What does StoreHippo exactly do in this regard? What are the services you offer and how many clients you have?

StoreHippo offers turnkey mobile-ready solutions for businesses of all sizes. We make the online journey of our clients smoother and faster by offering a one-stop solution to help them build an omnichannel presence for better conversions. StoreHippo also takes care of all the order management, payment, shipping and marketing requirements of its clients. StoreHippo has over 2,000 clients in 20+ countries.

How has been the response of your services so far?

We have received a very good response from our clients, especially enterprise businesses who did not imagine going D2C was so easy and without compromising their brand requirements. StoreHippo offers a completely flexible and customizable solution with a host of enterprise-grade features designed for advanced requirements of large businesses. This has made us a favourite of brands across the globe.

How mobile apps have transformed the online retail businesses in India?

Up to 70%-80% of online sales are coming through mobiles. Mobile apps have literally opened your shop in your clients’ smartphones. The way we are addicted to our mobiles, it is natural for customers to go binge shopping on mobile apps. With mobile apps, customers can be easily persuaded to buy more and can be targeted better with personalized offers. Apps have been a game-changer and if used strategically can be one of the best channels for marketing and sales.

“The way we are addicted to our mobiles, it is natural for customers to go binge shopping on mobile apps. With mobile apps, customers can be easily persuaded to buy more and can be targeted better with personalized offers. Apps have been a game-changer and if used strategically can be one of the best channels for marketing and sales”

What are the challenges one faces in driving digital transformation in retail? How to overcome them?

The first challenge is to find a comprehensive solution to take the business online. While there are many solutions available, not all are designed to adapt quickly to the market dynamics. Also, mobile-readiness is lacking in many popular platforms. Along with this shipping is a great pain point. Retailers need automated shipping solutions along with a comprehensive delivery boy management solution to make their deliveries streamlined. To overcome these challenges they should go for ecommerce solutions that are designed around m-commerce and offer inbuilt shipping solutions to make life easier.

Artificial Intelligence and Internet of Things are said to be the next big thing that will impact the retail business. Is it so?

AI and IoT are going to bring remarkable changes in digital selling. The change has already started with predictive analysis and in-store buying experiences through VR systems. IoT is also helping improve customer shopping experiences and helping in better customer engagement and retention.

How has automation revamped the B2B and B2C business models?

Automation has made both B2B and B2C business models more streamlined, efficient, transparent and less prone to errors. This goes a long way in having better growth and cost savings.

What online retail trends we are going to see in the times to come?

Some of the trends that will dominate online retail would be an even greater shift towards mobile, better opportunities in local markets with hyperlocal ecommerce, faster deliveries would be a key in making customers loyal, omnichannel selling through multiple customer touchpoints will also be a trend that will gain momentum.

Xiaomi MI 10i featuring 108 MP Quad Camera launched in India

By
Team My Mobile
-
0

The Chinese smartphone maker, Xiaomi, has finally launched its Mi 10i in India today. The smartphone is the rebranded version of the Redmi Note 9 5G that was launched in China last month.

The highlights of Xiaomi Mi 10i include its 108 MP quad rear camera setup that is tucked in a circular camera module, Snapdragon 750G processor, and a display that supports a 120 Hz refresh rate. The smartphone is a part of Xiaomi’s Mi 10 series that already includes Mi 10t, Mi 10t Pro, Mi 10 5G, and more.

The Xiaomi Mi 10i comes in three storage variants. The 6 GB RAM+ 64 GB storage variant is priced at Rs 20,999, the 6 GB RAM + 128 GB storage variant will cost you Rs 21,999 and the 8 GB RAM + 128 GB storage variant is priced at Rs 23,999.

Notably, the 6 GB RAM + 128 GB variant and the 8 GB RAM + 128 GB model will be available for purchase starting 7 January at 12 pm on Amazon and will go on open sale on 8 January at 12 pm on Amazon and Mi.com. However, the sale date for the 6 GB RAM+ 64 GB storage variant has not yet been revealed.

As for sale offers, buyers will get Jio benefits worth up to Rs 10,000. ICICI Bank credit cardholders will also a discount of Rs 2,000 on the purchase.

The Mi 10i comes with a 6.7-inch IPS LCD screen with a 120 Hz refresh rate. It comes with an IR blaster, and it is IP 53-rated splash-proof. It also features Gorilla Glass on the front and back. The smartphone is powered by Snapdragon 750G SoC and offers up to 8 GB RAM and up to 128 GB of internal storage.

It features a quad-camera setup at the back that houses a 108 MP primary sensor, an 8 MP ultra-wide sensor, a macro sensor, and a depth sensor. As claimed by the company, the Mi 10i comes with the “world’s slimmest HM2 sensor” on a 108 MP camera. The smartphone also lets you shoot Super Macro videos and videos in up to 4K resolution. The Mi 10i sports a 16 MP selfie camera

It is equipped with a 4,820 mAh battery that comes with support for 33W fast charging. Xiaomi claims it can go from zero to 100 percent charge in 58 minutes.

The smartphone comes in Atlantic Blue, Pacific Blue, and Midnight Black color variants.

Gamezop hires former Junglee Games executive Joy Nair as vice president

By
Team My Mobile
-
0

Multi-game platform Gamezop has on boarded Joy Nair as its vice president, to lead its customer engagement and experience lifecycle.

Joy has more than 14 years of experience as a senior customer experience professional. He has spearheaded cross-functional teams to manage large-scale global outsourcing centers and in-house operations across various telecom, payments, e-commerce, and gaming brands such as Junglee Games, BharatPe, Airtel Payment Banks, and Snapdeal.

At Gamezop, Joy’s primary role will be to design customer intuitive processes that can boost the customer’s confidence and pave way for stronger brand equity, it said in a statement.

This is a strategic appointment from Gamezop to further strengthen its growth momentum over the past six months, with over 40 million monthly users engaging with its product per month.

“With our aggressive focus to expand our network in India and enter new markets, we are excited to have Joy as part of our leadership team,” said Yashash Agarwal, CEO, Gamezop. “Joy comes with in-depth understanding of the market and customer behaviour and we are confident that his knowledge and expertise will be a key ingredient for achieving our immediate and long-term objectives,” he added.

“Gamezop is one of the few companies in the recent times that is truly disruptive and unique, in terms of business model and growth trajectory,” said Joy Nair. “The idea of making life simpler for the end user and the clear vision of the founders prompted me to join Gamezop. My endeavour will be to work closely with the leadership of Gamezop, and use my experience to deliver frictionless and superlative experience to our users.”

In 2020 Gamezop booked healthy profits and grew its revenue by four times, fuelled by its strong metrics. The sustained momentum for the company came through its unique business model wherein, it doesn’t spend any money to acquire users – instead it powers a gaming section within 1,900+ popular apps and websites. These apps and websites embed Gamezop’s multigame platform, enabling gaming as a feature within their products.

Laptop brand Vaio to relaunch in India on Jan. 15

By
Team My Mobile
-
0

Japanese laptop brand Vaio is all set make a comeback on January 15 in India. With the forthcoming relaunch, Vaio is retracing its way into tech-enthusiasts’ hearts as it steps back in the competition with the Hong Kong-based Nexstgo Company Limited.

Known for its extensive range of sleek and portable laptops equipped with top-of-the-shelf features, Vaio Corporation will debut in India with its range of premium, intelligently-crafted laptops, it said in a statement. Collaborating with Flipkart, Vaio aims to regain its place and popularity amongst its customers all over again.

“We are enthused to relaunch Vaio and associate with names that have made it big in the e-commerce industry. Introducing finest-quality laptops in India, the brand focuses on reclaiming its space in the market while having an unrivalled demand by the customers,” said Seema Bhatnagar, Regional Business Director, South Asia, Vaio.

“We are all set to present futuristic laptop range to the country’s burgeoning tech-enthusiasts and young business professionals. We are looking forward to becoming the top choice for laptop buyers across the country,” she added.

The brand that offers various services such as manufacturing, sales and marketing as well as servicing of Vaio laptops under the Vaio trademark in Hong Kong, Macau, Malaysia, Singapore, Taiwan, Middle East markets is now strutting in India to reimagine and co-create the future of laptops in the country.

Extending its services and distinctive features on Flipkart, Vaio strives to create an upward spiral of technological growth for the country, it said.

Reno 5 Pro 5G with latest MediaTek chip to launch on Jan 18

By
Team My Mobile
-
0

The Chinese smartphone maker, OPPO, has confirmed that it would launch Reno 5 Pro 5G smartphone in India on January 18. It will be the first device in the country powered by the latest MediaTek Dimensity 1000+ chipset.

Oppo Reno 5 Pro 5G is available in China for a starting price of 3,399 yuan.

“The chipset offers an unrivaled combination of 5G connectivity, multimedia, videography, and imaging innovations. It also enhances the video quality, making it the perfect combination for Reno5 Pro 5G,” the company said in a statement.

The MediaTek Dimensity 1000+ chipset comes with a 7nm process, that offers industry-leading performance and extremely low power consumption. The chipset will be bundled up to 12GB of RAM and 256GB built-in storage.

Oppo Reno 5 Pro 5G features a 64MP primary sensor, an 8MP ultra-wide sensor, and two 2MP sensors, completing the quad-camera module. On the front side, the device features a 32MP snapper for taking selfies and video calling.

The device is powered by a 4,350mAh battery that supports 65W SuperVOOC 2.0 fast charging technology.

itel planning to launch bigger waterdrop display phone with premium looks

By
Team My Mobile
-
0

itel is going to disrupt the market with an extra-large screen Smartphone, at a rock bottom price, that will maximize consumer’s smartphone viewing experience, powered by massive battery capacity.

According to some media reports, the product is rumored to be priced below Rs 7,000. It seems, post strengthening its position in the sub Rs 6,000 category, itel is eyeing to bring smartphones with a premium look and new-age features in the affordable segment.

While the exact launch date is not revealed, but it could happen sometime in January.

As per the reports, the company is planning to launch this amazing product that will be equipped with superior features like an extra-large HD+ Waterdrop display, premium id, massive battery, triple camera, dual security features that make it a power-packed smartphone that will redefine the overall user experience.

The upcoming smartphone seems to be a game-changer for millennials, that will cater to their growing demand for endless entertainment experience on the go.

It is expected that the smartphone will target users in tier-2 and below markets, fulfilling all the digital and entertainment needs of the New Bharat in this new normal

Fittr amplifies 2021 series of Transformation Challenges with TC 12 launch

By
Team My Mobile
-
0

Community-driven online health and fitness start-up Fittr has announced a bigger and better version of its Transformation Challenge (TC) in 2021 with TC 12. The grand prize winner of the overall TC series in 2021 will take home a cash reward of Rs 1 crore. The individual winner of TC 12 and other editions of the TCs through the year stand to win cash rewards of Rs 5 lakh each. In addition to this, the first runner-up and the second runner-up will win Rs 2 lakh and Rs 1 lakh respectively. With these fitness challenges, Fittr aims to motivate people to become fit, helping the company move closer to its goal of making 50 million people fit.

Starting from the first week of this month, the 12-week online fitness challenge of TC 12 will be hosted on the Fittr app. The company will be accepting entries of participants aged 18 and above from across the world, without any registration free.

Jitendra Chouksey, Founder and CEO, Fittr, said, “At the beginning of each year, people embark on their health and fitness new year resolutions. However, many find it challenging to stick to these goals, as they fail to realize the importance of health and well-being. Though this has changed to a considerable extent due to the pandemic, there is still a long way to go for fitness to become an integral part of our lifestyle. This is what the transformation challenge aims to do – motivate people to rise up to the challenge and invest in their health. Transformation Challenge represents the ethos of Fittr. We strongly believe that anyone can become the best version of themselves with proper knowledge and guidance.”

To inspire the Fittr community members and the participants of TC 12, Fittr has also released an anthem ‘Whatever It Takes’. The anthem was released digitally on January 1 on Fittr’s YouTube channel and other platforms. The campaign depicts the determination to embark on a fitness journey and make a change despite many challenges, especially during the lockdown. In addition to this, Fittr has unveiled a message from Bollywood actor Suneil Shetty, encouraging the members of Fittr’s online community to participate in TC 12.

Chouksey said, “With Fittr’s Transformation Challenge anthem, Whatever It Takes, we want to encourage our community members and participants to make the most of their fitness journey. It is also a small token of our appreciation for the unbeatable spirit of everyone during these challenging times.”

During the transformation challenge, participants are required to upload a video showcasing their transformation, every week. The idea of the transformation challenge is to compete with yourself, as each participant is evaluated based on his or her past journey. While assessing the contestants, factors such as gain in muscle mass, fat loss, and consistency from the past transformation challenges are taken into account. The one who excels in every aspect will become the winner.

The grand prize will be given to the top performer across all the editions of TCs that will take place in 2021, including TC 12. This winner will be selected from the top 30 contenders through public voting on the social media channels of the company, based on their consistent performance and contribution to Fittr’s online fitness community. In addition to this, winners will also receive high-end smartwatches and sports shoes.

Fittr is well-known for its exciting transformation challenges and the associated rewards, across the world. In 2020, Fittr gave a grand prize of Mahindra Thar to Akshay Gupta, a chartered accountant from Ludhiana, and a brand new Kawasaki Ninja 650 to TC 11 winner, Vihaan Rathore from Jodhpur.

Fittr was started in 2014 as a WhatsApp group by JitendraChouksey and later extended its reach to Facebook. In 2018, Fittr launched a full-fledged app which serves as a one-stop solution for all health and fitness guidance-related needs. So far, Fittr has transformed over 150,000 people and 30% of its user base is global, spread across the US, UK, Australia, UAE & Canada. Growing organically, the company has been profitable since inception and secured pre-Series A funding from Sequoia Capital’s rapid scale-up program, Surge.

1...1,3661,3671,368Page 1,367 of 1,368

About us

My Mobile has always believed in well researched, in-depth, truthful and relevant content which has evolved with time and produced by the very best of well informed journalists. It has always been our endeavour to provide tremendous value to both readers and advertisers with our relevance and reach.

Quick Links

Must Read

Copyright © 2023 All Right Reserved, My Mobile India