Borrowed joy: Decoding the digital credit boom of India

  • A trio comprising lenders (shadow banks, digital lenders, fintech players), shopping websites and businesses are coming together to offer attractive credit schemes.
  • The contrasting financial habits of the Basus are an example of what’s playing out across the country setting aside our traditional aversion to debt, young Indians are saving less and borrowing more, sometimes at exorbitant interest rates under terms that they don’t fully understand, to fund a rosy lifestyle.
  • At a very macro level, our economy is moving away from high savings-low leverage to low savings-high leverage (at the household level), says Sunil Sinha, principal economist, India Ratings.
  • This will create challenges for consumers and also constrain future credit growth, says Sinha of India Ratings.
  • The app helps them keep track of their credit card spends, payment dues and charges accrued in one place while helping businesses access creditworthy customers.

Read full article: economictimes.indiatimes.com

30 Startups To Watch: The Startups That Caught Our Eye In February 2020

  • Overall, we found that fintech startups are coming up faster than the other sectors with seven entries, but edtech startups were close in second spot in this list with six startups coming up in our radar.
  • GroMo is a lending platform that offers loans to individuals and businesses – home, education, business, personal and education among other loans.
  • The Bengaluru-based company recently raised $500K seed funding from Venture Catalysts.
  • The company bagged $3 Mn in seed-stage funding round led by Polychain Capital and Sequoia Capital India’s accelerator programme Surge.
  • Founded in August 2019 by Anurakt Jain and Ishita Verma, Klub is a fintech startup that provides growth capital to new-age brands across F&B, direct-to-consumer brands in fashion, lifestyle, and FMCG, and consumer internet brands.
  • Noida-based edtech startup Konfinity is an artificial intelligence (AI) powered platform that offers six-month-long courses in software programming, web development, data science and UI/UX.

Read full article: inc42.com

Sources: Amazon to launch a food delivery service in India in March, charging restaurants commissions of 10-15%, about half of what Swiggy and Zomato charge

  • GDC 2020 officially postponed after major game companies like Microsoft, Epic Games, Activision Blizzard, Gearbox, and Unity pull out https://www.polygon.com/… https://twitter.com/…
  • A Google employee has tested positive for the coronavirus, and the company is further restricting employee travel to Italy, Iran, Japan, and South Korea. https://www.businessinsider.com/ …
  • Elliott Management has taken a sizable stake in Twitter, nominated four directors to Twitter’s board, and seeks to replace CEO Jack Dorsey
  • Elliott Management’s Paul Singer seeks to replace Twitter CEO Jack Dorsey, source says
  • Apple disables the iOS developer account of Clearview AI for using the Developer Enterprise Program to distribute its app among its reported 2,200+ customers

Read full article: techmeme.com

WATCH: The week that was – when Satya Nadella and Mukesh Ambani discussed people’s empowerment

  • His keynote address culminated in a fireside chat with India’s wealthiest man and Reliance Industries Chairman Mukesh Ambani, who congratulated Nadella on his leadership at Microsoft and commitment to India.
  • Mukesh Ambani and Satya NadellaAlso ReadMukesh Ambani tells Satya Nadella, ‘My father launched Reliance as a
  • Nadella returned the compliment by acknowledging the disruptive impact of Reliance Jio on India’s technology and business landscape.
  • Since 2016, Jio has cut down data cost in India from Rs 300 per GB to Rs 12 per GB, which Ambani had compared to the price of a ‘vada pav’ (a Mumbai snack) during the network’s launch.
  • With Yummy Tiffins, Pratik tried to find a middle ground between a restaurant and a tiffin service.

Read full article: yourstory.com

Future of Work 2020: Experts discuss how next billion users will prefer snackable video content

  • On the second day of Future of Work 2020, YourStory’s tech, product, and design conference, leaders from the Indian startup ecosystem came together for a panel discussion on ‘Designing for the next billion users’.
  • The panel included Vivekananda Pani, Co-founder of Bengaluru-based language technology startup, Riverie; Shayak Sen, Head of Design of social commerce platform Meesho; and Sumit Gwalani, Co-founder of neo-banking startup, EpiFi.
  • The panel was moderated by Meeta Malhotra, Founder, The Hardcopy.
  • Vivekananda Pani, Co-founder, Riverie; Meeta Malhotra, Founder, The Hardcopy; Shayak Sen, Head of Design, Meesho; and Sumit Gwalani, Co-founder, EpiFi, at FoW2020The panel discussed how designing for the next billion will be different, and what are the trends to watch out for in the designing space.
  • My learning at Google Pay India has been to ensure that anything that we design or build has to be natural,” said Sumit.

Read full article: yourstory.com

Activist investor wants to oust Twitter chief Dorsey

  • Twitter CEO Jack Dorsey addresses students during a town hall at the Indian Institute of Technology (IIT) in New Delhi, India, November 12, 2018.
  • An activist investor known as a major Republican political supporter wants to wrest control of Twitter from co-founder and CEO Jack Dorsey, US media reported Friday.
  • The firm pushed for the change stating that Dorsey’s attention is divided between running Twitter and his financial transactions startup Square and that Dorsey intends to live part of each year in Africa.

Read full article: tribune.com.pk

[Matrix Moments]: Founders need to find people who can go with the flow, says Vikram Vaidyanathan of Matrix Partners

  • For any startup, hiring at the early stage helps define the momentum at which the company will grow.
  • Getting consumers to adopt the most important booster, to my mind, is finding the right people who can take you to that next level of orbit.
  • Therefore, founders need to find people who can go with the flow.
  • If you have your DNA defined, the hiring discussions and debriefing become easier.

Read full article: yourstory.com

CureFit’s Mukesh Bansal, Udaan’s Amod Malvia on trends that will define our Future of Work

  • , CureFit’s Mukesh Bansal spoke about how a founder and a startup can be fighting fit and take on giants in the ecosystem.
  • Amod Malviya provides insights on how organisations can be structured better to drive productivity and impact through product, tech, and design teams.
  • The power of AISameer Dhanrajani, Chief Strategy Officer, Fractal Analytics at YourStory’s Future of Work event

Read full article: yourstory.com

[Jobs Roundup] Here’s a chance to work with Walmart-backed Flipkart, India’s ecommerce giant

  • Flipkart is looking for a Director of Customer Experience COEs, someone who will be part of the cross functional team comprising of Workforce Management and Forecasting, Planning and Commercial, CS Analytics and Quality, and improve customers’ end-to-end experience in dealing across channels, touchpoints, and customer-impacting business processes.
  • The search team at Flipkart is responsible for driving enhanced customer experience.
  • Candidates applying for the role of Software Development Engineer will be solving problems in the area of ecommerce search.
  • Flipkart is looking for someone with a Bachelors in Engineering, Computer Science, Math, Statistics, or related discipline from a reputed institute or an MBA from a reputed institute, for the role of a Senior Business Analyst.

Read full article: yourstory.com

US Reports First Drug Shortage Tied to Coronavirus Outbreak

  • Roughly 80 percent of the ingredients used in U.S. medicines are made abroad, according to federal figures.
  • Health officials reported the first U.S. drug shortage tied to the viral outbreak that is disrupting production in China, but they declined to identify the manufacturer or the product.
  • The FDA previously said it had reached out to 180 drug manufacturers to check their supply chain and report any potential disruptions.
  • Chinese factories making pharmaceutical ingredients and drugs are still operating, but a little below capacity, Louissaint said recently.

Read full article: snopes.com