News

News From #TechNet In Hong Kong
May 28,2015
Slide1
Sandeep Murthy, partner at Lightbox, was featured on Live Mint during the coverage of the Goldman Sachs' event Tech Net, taking place in Hong Kong. Read his thoughts on the current tech euphoria in India below among other news from HK: Snapdeal, the Indian e-commerce start-up backed by Softbank Corp. and EBay Inc., will keep buying companies as it works toward becoming profitable in two years. Building everything from scratch is a losing proposition, Kunal Bahl, chief executive officer and co-founder of the five- year-old company, said in an interview. “We’re not going to be frivolous about it,” he said on the sidelines of a Goldman Sachs Group Inc. technology conference in Hong Kong. “If there’s something we can’t build internally, then we’ll do it. If we want to do everything ourselves, we’ll be too late.” Bahl said he expects Snapdeal to become profitable in two years, once its investments in logistics and technology infrastructure bear fruit. He has bought 10 companies in the past seven months, including most recently app-developer MartMobi, to capitalize on an acceleration in Indian e-commerce over just the past few years. Snapdeal is eschewing a one-size-fits-all Amazon-style retail strategy in favor of connecting distinct marketplaces: one for luxury goods, another for consumer products and so on. Snapdeal and local rival Flipkart are competing with foreign entrants alike such as Amazon.com Inc. in a growing market fueled by cheaper smartphones and rising incomes. The potential for India’s e-commerce market, a vision stoked by the rapid evolution of China’s, is drawing billions of dollars of investment, spurring startups and boosting valuations. Growth money Snapdeal raised 90% of its capital in just the past 11 months and is now valued at about $5 billion, Bahl said. Flipkart’s last round of funding valued it at $15 billion, according to the Wall Street Journal. A lot of money will go toward the pursuit of growth for now, Flipkart chief financial officer Sanjay Baweja said in an interview on Wednesday. “There’s a lot of investment which is happening, in increasing reach, increasing scale,” Baweja said on the sidelines of the conference. “There’s a sense of a land grab.” Soaring valuations have coincided with a persistent lack of profitability. That’s normal in a market undergoing deep changes. Only about 2% of India’s retail sales is now online, versus the double-digit percentages in other more developed markets. The growth of online commerce may, for instance, require heavy discounting initially that in turn pressures profitability. “With every disruption, there’s going to be a bubble created,” Lightbox Ventures Partner Sandeep Murthy said in Hong Kong Wednesday. “To get you to change your behavior, I have to give you an incentive.” Read More

Recent News
Slide1

Techcrunch 2016 ‘s list for holiday gifts.

Photojojo’s iPhone lenses are made of aluminum and outfitted with thick, high-clarity glass, the website claims. Lenses include wide and macro, fisheye, telephoto, super fisheye and a polarizer. Made for the social media addict.

Read More
Slide1

Turning Your Vacation Photos Into Works of Art

Parabo Press is a breeze to use: It’s clean and easy to read, your options are straightforward, and there are no annoying upsells. Prints from its Risograph machine, which uses soy-based ink and is described by Parabo as having “a cult following since its invention in 1980s Japan.”

Read More
Slide1

Furlenco strikes a co-branding partnership with Airbnb

“We are creating solutions specifically for the Indian rental community. For Aibnb, we are creating a separate set of packages, more attuned towards travellers, which will allow the hosts to pick and choose from these packages and furnish their house,” Ajith Karimpana

Read More
Slide1

Should it be called Design in India?

The Make in India programme needs design, in order to succeed in its fundamental endeavour. Melorra has integrated design and manufacturing with processes, people working in manufacturing are involved in product design concepts as a result delivery times are almost half those of competitors.

Read More
Slide1

Red Chillies Entertainment partnered with Furlenco for ‘Dear Zindagi’

Red Chillies Entertainment partnered with Furlenco for its forthcoming Shah Rukh Khan and Alia Bhatt starrer ‘Dear Zindagi’. Furlenco and Red Chillies have also launched a TVC and an exclusive ‘Dear Zindagi’ store for the movie buffs.

Read More
Slide1

The role of sub-culture in innovation in India

Sub-cultures drive the products that emerge out of tech startups. Sub-cultures push the envelope on thinking about how society might develop. The ones that interest investors are those with the potential to indicate where the world could go next.

/
Read More
Slide1

Furlenco raises $30 mn in fresh funding

It is a combination of 50% equity and 50% debt, making them one of the largest debt funded start-ups in India. While Furlenco plans to utilise the equity component to grow its business into more cities, the debt will be used to purchase inventory.

Read More
Slide1

Droom records monthly GMV of Rs. 104 cr

Droom has clock​ed​ a GMV of ​Rs 104 crore in a short span of 19 months. They have registered over ​Rs 1,200 crore in annualised GMV, with plans to achieve ​Rs 3,000 crore by March 2017​. The achievement has ​come despite low marketing spends at 3.75 per cent of the entire GMV​.

Read More
1 2 3 15