|In: Funding|Last Updated: | 0 Comments

Real-money online skill-based gaming startup 9stacks announced the close of more than Rs 10 Crore in angel funding [Pre-Series A]. Angel Investors include Swati Gupta [Founder, IndustryBuying], Purnima Khandelwal [Founder, INI Farms], Maheshwer Peri [Founder, Careers360], Sanjay Singh [Founder, Swas Healthcare], Anant Daga [MD, TCNS Clothing/W], Kartik Sheth [Chief Innovation Officer Airtel & CEO, Wynk], Kedar Gavane [VP, ComScore], Amit Diwan [Sr. Director, Hines], Mohit Sardana [CBO, GoFro] & Shubhajit Sen [ex-CMO, Micromax]. The round also saw participation from a number of VC and PE investors in their personal capacities.

Image Source – 9Stacks

9stacks currently offers online real-money poker to customers in 24 Indian states, who can access its modern and secure poker platform on 9stacks and on iOS, Android, MacOS & Windows native apps.

9stacks will utilize the funding to accelerate its product and technology development as well as scale to other geographies and other categories within the real money online gaming space. The company is also significantly investing in producing its own poker-specific content to help users develop their poker skills and connect with other poker players.

Sudhir Kamath, CEO and Co-founder, 9stacks, said

Our vision is to make 9stacks India’s best online poker platform With the backing of our angel investors, we want to make 9stacks the first choice for new users to play poker, with the most user-friendly interface, quickest pay-ins & pay-outs through seamless integration with payment gateways/bank accounts, and clear policies on tax deduction for a safe and hassle-free playing experience.

The real-money skill-based gaming segment includes companies offering rummy, poker and fantasy league contests, and has seen a number of investments and exits recently.

About 9stacks

Founded in April 2017, 9stacks aims to be India’s best real-money skill-gaming platform and is run by a close-knit group of founders from reputed institutions like the IITs and IIM Ahmedabad, with experience in companies like Groupon/Nearbuy, Nykaa, Zivame, McKinsey & Co & Boston Consulting Group.

9stacks is part of SparSkills Technologies Pvt Ltd, a company focused on technology development and branding/marketing in the space of real money online gaming in India. This Delhi-based start-up launched its first offering – online poker in October 2017. 9stacks is operational as a website on the URL 9stacks.com. For more information, please visit 9stacks

|In: Finance|Last Updated: | 0 Comments

GST is a single indirect tax on the supply of goods and services in the entire chain right from the manufacturer to the supplier. Good and Services Tax [GST], since its effect has left multiple emotions in the mind of the common man, there are a number of questions which need  answers in order to understand GST.

Image Source – GST

Let us understand the difference between GST and other taxes which were in effect before its applicability.

VAT [Value Added Tax] was  considered to be the first generation reforms introduced in April 2005. The existing sales tax was replaced with VAT. Central Sales Tax, Excise Duty, Customs Duty, Service Tax became part of VAT.

Goods and Services Tax is considered to be the second generation of tax reforms. The VAT system was merged with Luxury tax, entertainment tax and renamed as State Goods and Services Tax [SGST]. Furthermore, Central Sales Tax, Excise Duty, Customer Duty, Service Tax have been incorporated under a single umbrella as Central Goods and Services Tax [CGST]. There is no major segregation between the VAT and GST, the taxes have been clubbed together and brought under a single umbrella.

What are GST rates and when is it levied ?

As per the Act, all goods and services have been placed in five brackets – 0%, 5%,12%,18%, and 28%. The tax is levied on the sale of goods and services. Each bracket has multiple items  falling under it, which are a taxed accordingly.

The tax applied is ‘Value Driven’ i.e. it is applied on goods or services at every stage where the value of the goods or services increases or is added. The tax will be levied where the goods or services are consumed. For example, if the goods are created or manufactured in Maharashtra and sold in Andhra Pradesh, then the tax would be levied in Andhra Pradesh.

What are the types of GST ?

GST is destination based. Basis the same, these are the following  types of GST:

  • SGST – State Goods and Services Tax
  • CGST- Central Goods and Services Tax
  • IGST- Interstate Goods and Services Tax

The sale of goods and services intra-state would levy central and state GST. The inter-state sale of goods and services would levy inter-state GST.

Is GST same for all ?

GST is different for different businesses. The application of GST for different businesses is also different.

Mostly, all businesses, whether manufacturing or e-commerce have been brought under the purview of tax regime. Registration forms an important part of GST. It is important for businesses to register and procure tax number in order to file tax as per the stipulated norms.

Is GST registration mandatory ?

There is a stipulated threshold for businesses to register which is an aggregate turnover of INR 20 lakh in a financial year. If the businesses are under that threshold, it is not mandatory for these businesses to register. In such cases, the registration is voluntary.

As per the Act, if the registered seller sells the goods and services to the unregistered buyer, he is supposed to pay GST for the unregistered buyer. If your business is registered under VAT or service tax or excise duty, you should migrate to GST.

The GST explained above is the basic know how about the new tax. It is also important to understand the tax regime appropriately and file the tax when due. The assessee can login into the Government of India website, which provides necessary information in regards to the changed tax regime.

|In: Technology|Last Updated: | 0 Comments

Bloomberg Media and Twitter launched TicToc by Bloomberg, the first-ever 24/7 global news network built for a social media platform that targets the next generation of on-the-go, mobile-first news consumers. TicToc by Bloomberg combines the global news gathering capabilities of Bloomberg’s 2,700 journalists and analysts across 120 countries, with the digital power and immediacy of Twitter, one of the world’s fastest and primary news distribution channels. To view TicToc by Bloomberg, follow @tictoc or visit live.twitter.com/tictoc

The first iteration of TicToc by Bloomberg will feature a mix of live video and reporting from Bloomberg journalists around the world, as well as breaking news content from consumers, curated and verified by Bloomberg editors with a real-time distillation of the related conversation on Twitter. The news experience is designed to be interactive, rich with Twitter content and consumable on any device. Coverage will focus on general interest news worldwide.

Justin B. Smith, Bloomberg Media CEO, said

We are seeing a shift in the media landscape today: more content companies are partnering with platforms to create hybrid businesses that better serve consumers and society. With TicToc by Bloomberg, we are fusing the best of Bloomberg and Twitter to build a fast and credible modern news experience. The launch of this new network further reinforces our strategy of driving innovation through exciting new products and services that touch a broad audience around the world.

John Micklethwait, Bloomberg Editor-in-Chief, said

It’s early days, but what makes TicToc by Bloomberg unique is that consumers will be able to watch live news and the conversation around it at the same time, all while a dedicated team of Bloomberg editors verifies the facts. We’re leveraging our journalism and data to reach and inform an intelligent audience on Twitter around the world.

Anthony Noto, Twitter COO, said

Twitter is where people go for breaking news, and now our global audience can turn to TicToc by Bloomberg at any time to see what’s happening in the world no matter where they are. Combining the journalistic integrity of Bloomberg with the speed and global availability of Twitter makes this a collaboration we are really excited about.

TicToc by Bloomberg recreates the visual presentation of news for a mobile, social world through the use of video, data, and graphics. Users will have access to two types of news content

  • Breaking News – TicToc by Bloomberg will cover global breaking news when consumers need it and when an event warrants it. Live coverage for key events will be presented alongside real-time distillation of the facts and Tweets about the event.
  • Global News Update – An hourly update of global news will be available in short, digestible clips, refreshed at the top of each hour. The segment will be comprised of top global news so that consumers are constantly up to speed on the stories that matter. It will also include slightly longer clips that put news into context, providing deeper analysis of the top news stories of the moment. At launch, top-of-the-hour news coverage will be updated from 6AM to 10PM EST, expanding to 24 hours in early 2018, while weekend coverage will include regular news updates, prioritising live breaking news events.

The global news update will be available for replay and refreshed each hour with evolving stories from around the world. Relevant Tweets, curated and verified by Bloomberg, will run below the video programming, allowing consumers to see accurate Tweet conversations around the news.

To support TicToc by Bloomberg, Bloomberg is building a dedicated team comprised of editors, producers, social media analysts, product developers, engineers, designers, and marketers that will leverage Bloomberg’s global resources.

Seven sponsors have signed on as the Founding Partners of TicToc by Bloomberg – AT&T Business, CA Technologies, CME Group, Goldman Sachs, INFINITI, SAS, TD Ameritrade. TicToc by Bloomberg will feature branded native content and unique integrations woven into the video programming, created by Bloomberg in partnership with each sponsor.

Bloomberg currently live streams three of its daily Bloomberg Television programs on Twitter.

|In: Food-Commerce|Last Updated: | 0 Comments

Swiggy, India’s largest food ordering and delivery platform today announced a first-of-its-kind partnership with Sodexo, the leader in employee benefits and rewards. With this integration, over 3 million Sodexo users across India can now use their Sodexo Meal Cards on Swiggy to order in from a variety of restaurants.

Over the years, there has been a steady shift in corporate ordering trends with office-goers increasingly ordering food online on platforms like Swiggy. Keeping in mind this growing user base, this partnership offers the maximum benefit to those who use their Sodexo Meal Cards only to purchase food and non-alcoholic drinks both at work and home. Additionally, by enabling this convenient and tax-saving payment option of Sodexo Meal Cards, Swiggy is providing consumers with a fast and secure way to pay for a wide variety of meals.

Talking about the partnership, Srivats TS, VP, Marketing, Swiggy said

Swiggy has become an integral part of the consumer’s lives today. This is especially true with the growing working population and millennials who are always looking for convenient food ordering options that are both time-saving and hassle-free. This collaboration with Sodexo is in perfect alignment with what Swiggy strives to provide its users – superior value and the best food ordering experience.

Stephane Michelin, CEO Sodexo Benefits & Rewards Services India, added

Being the leader in employee benefits, we always look for opportunities to enhance the experience of our 3 million+ daily consumers in India. The Sodexo Meal Card works on a 100% tax compliant proprietary network and hence this partnership with Swiggy will give greater access to our consumers, especially the always-on millennials, to order food from the thousands of restaurants in their network using the Sodexo Meal Card.

Request for Sodexo as a payment option on online platforms has been a long-time ask from consumers. Considering the synergies between the two companies with regards to high service levels and customer focus, Swiggy is the first restaurant marketplace in India to offer this additional payment option to its users. Through this integration, Sodexo’s 3 million daily users can avail exciting offers, great service and lightning fast deliveries from over 20,000 restaurants on Swiggy.

Swiggy users can avail a special introductory discount of 20% when they use their Sodexo Meal Cards for the first time. Coupon code : Sodexo. Valid until January 31, 2018.

|In: AI|Last Updated: | 1 Comment

IFIM Business School dedicated a week towards understanding how Artificial Intelligence [AI] and analytics are key game changers for future businesses. Experts round the corner were invited at IFIM to address the students and teachers on various occasions where the emphasis was laid on skilling students and professionals in AI.

Image Source – AI

Digital Innovation Conclave, the visit of AICTE Chairman Dr. Anil Sahasrabudhe to IFIM Business School and IFIM’s Confluence to talk about future of Fintech were the key events hosted by the institution.

Sanjay Padode, Secretary, Center for Developmental Education [IFIM Institutions], said

We need to start training our students right from the initial phase, to be prepared for challenges and opportunities ahead. Academic institutions have a key role to help prepare students take the onus of improving the society. With technical, manufacturing and the corporate sectors being more absorbent to AI and analytics, the challenge lies in going down to the roots. IFIM has an endeavour to provide best holistic education with curriculum that is abreast to the requirements of the industry. AI and analytics have been defined as the future of jobs and thus, we have taken this initiative with support from AICTE and NASSCOM to educate the students on the same.

Talking about the scope of talent available in the country and the role of public private partnership, Dr Sadagopan, Director, IIIT – Bangalore, at the Digital Innovation Conclave said

India is a magnet of talent and it is high time this is nurtured by providing the right assistance. With the advent of technology, students in the higher education segment need to be trained to acquire the right skill-sets. The country has a bright future in the space of analytics, and therefore it is important for a greater focus on data and a good scope for businesses to grow in this space. This should be reflected right from the stage of curriculum design, to help cultivate the right talent at the right time. Government along with the academia needs to actively participate to catalyze the growth in analytics, AI and IoT.

The discussion also brought out the importance of AI and automation in various fields including agriculture and Fintech sectors.

AICTE Chairman Dr. Anil Sahasrabudhe on his visit to IFIM Business School, said

As artificial intelligence and data analytics take the center stage in industries and academics, it is high time that their usage should be maximised in the agriculture sector as well. AI has stepped into every sector globally and India is on the road to incorporate the developments. Technology industries are increasingly adopting analytics into their working and the academia is developing around new courses to fulfill the industry needs. Hence, the combination of these two focused towards agriculture can do miracles for the oldest industry on the planet.

Additionally, the same effect is being witnessed in segments of the society such as banking and Fintech. Nithin Kamath, Founder & CEO, Zerodha, who spoke at IFIM Business School’s Confluence, highlighted the rising star in financial sector, Fintech and the opportunities and challenges around it. He said

The challenge that Fintech companies faced in the last five years was on-boarding clients. However, with the government’s push towards digitization, this sector will see many growth opportunities. Investors are taking more interest in Fintech due to AI’s help in better data and advanced analysis. About 70% of our clients are now opening an account online. This is a huge shift in paradigm.

IFIM Institutions believe in nurturing the students to bring out their best, be job ready and continuously employable. The institution would continue to provide platform for knowledge exchange on artificial intelligence and analytics.

|In: startups|Last Updated: | 0 Comments

SMARTup is a platform for knowledge sharing and networking being organized by ah! Ventures & MeetingsAndOffices. Their endeavour is to connect the startup fraternity and create valuable business centric conversations between domain specialists and entrepreneurs. SMARTup will be holding meets in metropolitan cities such as Hyderabad, Bengaluru as well as in startup based cities such as Jaipur, Pune, Chandigarh to name a few.

The focus of these SMARTup’s is to deal with issues and problems that plague young companies and divert their focus from their core competencies and business. Issues such as business planning and strategy development, aligning immediate and long term goals, generating investor interest, scaling a business, managing cash flows, building sticky relationships & customer loyalty, getting paying customers, regulations, compliance, understanding term sheets, understanding how to go about building your tech as a non-techie without a tech co-founder, sales and marketing processes, how to focus on and enhance the logic of business, what is the role of IoT in business, when do you need AI and what does AI mean beyond chatbots for your business etc. will all be amongst the critical topics that would be covered under the series.

Abhijeet Kumar, Co-founder of SMARTup emphasized on his goal to achieve a greater startup nation in a few words

SMARTup is a platform which aims to give the country’s potential startups a boost and a platform to achieve more visibility.

Meenal Sinha, co-founder of MeetingsAndOffices stated how important it is for today’s startups to understand the know-how of smart startups.

Over the past decade, there have been more startups being established. And, they need the guidance to accelerate their young company’s growth in the right direction. That is what SMARTup is driving to achieve.

Indore is populated with startup ecosystems. Indore being the commercial capital of Madhya Pradesh has many industries and startups booming into successful businesses.  Indore being the industrial center in the heart of India, we are grooming the ecosystem and wanting to increase awareness about startups, funding, investments, etc. through SMARTup.

At Indore, SMARTup will be curating one on one discussions of our audience with eminent people from the ecosystem. During this meet, startups could benefit the chance to meet prominent investors from across the country, all under one roof. If you want to know more about SMARTup, please visit SMARTup Indore

About ah! Ventures

ah! Ventures is a growth catalyst that brings together promising businesses and investors by creating wealth creation opportunities for both. ah!’s unique model serves investors, entrepreneurs & enablers through a unique blend of customized services, skill, and industry & domain experience. Founded in 2010, ah! Ventures has systematically disrupted the early stage funding ecosystem of India through its innovative approach toward startup investing. First of its kind initiatives like the CLUB ah! platform, ah! Angels [India’s largest angel network], ah! Seeders and ah! VC networks [India’s first seed & VC investment networks], have brought together and integrated the previously segregated startup funding life-cycle, under one roof. For more information, please visit ah! Ventures

About MeetingsAndOffices

meetingsandoffices.com is a managed marketplace based on the ‘Service Aggregator’ model, catering to the office space, meeting space and associated needs of the business traveler. We are aggregating verified & curated Meeting & conference facilities, day Offices, Shared Workspaces, Office Space leasing, associated services like secretarial, catering etc. into an easy access application with search, comparison and total fulfillment capability. For more information, please visit MeetingsAndOffices

|In: Technology|Last Updated: | 0 Comments

Uber, the world’s largest on-demand ride-sharing company, revealed the top trends of 2017 – interesting data backed insights on how Uber and Uber Eats has touched millions of Indians this year.

Image Source – Year With Uber

Amit Jain, President, Uber India and South Asia said

In 2017, we were focused on moving from a startup to a sustainable business in India. As a result, we recorded double-digit growth and continue to clock over a million trips a day. With a vision to de-congest cities, we launched products that encourage ride-sharing and complement public transportation through reliable first/last mile connectivity. We are excited to see Uber become a preferred mode of commute, leapfrogging car ownership in India. A big thank you to our riders and driver partners for being a part of our journey.

Ten interesting facts about Uber and UberEATS in India

  1. Uber’s busiest day in India is Friday and the busiest hour of the week is 6 p.m. when riders are perhaps making a speedy get away from work. The most Ubers were taken on the August 11, which also happens to be pre-Independence Day Friday.
  2. Rider from Delhi, NCR has taken the highest number of Uber rides – 1,969 trips in 2017, that’s almost 5 trips a day!
  3. uberGO is the most-popular product among riders across the country.
  4. Uber riders believe ride-sharing can help de-congest cities. Bengaluru and Hyderabad saw the highest number of uberPOOL trips taken by riders in 2017, followed by Kolkata and Delhi.  A female rider in Hyderabad took a record 1,162 uberPOOL trips this year.
  5. Uber India celebrated one year of uberMOTO and completed over 2 million trips in July 2017. A female rider in Delhi, NCR has taken the highest number of uberMOTO trips.
  6. Indians love to travel, and so wherever they went, they preferred to book a ride using the Uber App. Riders from India took Ubers in 566 cities across 80 countries. The most-popular travel destinations include U.S, Singapore, Malaysia, U.K and UAE.
  7. A driver partner from Delhi has been driving using the Uber App for over 4 years and 2 months, making him the longest standing driver partner in India in 2017.
  8. Uber hit the 500 millionth trip milestone on July 17 this year. Riders and driver-partners have travelled over 5.8 billion KMs together.
  9. On May 20, Uber completed 5 billion trips globally. India emerged as the second-largest contributor to the global milestone, after the U.S. Driver partners across Bengaluru, Chandigarh, Chennai, Hyderabad, Jaipur, Kochi, Kolkata, Lucknow, Mumbai and Pune simultaneously clocked the 5 billionth trip.
  10. UberEATS expanded into 6 cities in 7 months in India. Highest number of orders we made on June 18 and the most ordered dishes on Uber Eats were Samosa Chole, Aloo Tikki Burger and Chicken Biryani. While Indian cuisine continued to top the list of most ordered cuisines by Indians, it was closely followed by Middle Eastern and American. Cairns, Adelaide, Bangkok, Gold Coast and New Castle were five other cities that enjoyed Indian food.

To celebrate the journeys of riders, consumers, drivers and courier partners, the company also announced the launch of Year With Uber – an interactive and shareable visualization of the way people moved across cities.

Launching across Asia-Pacific, Year with Uber turns trip data into personalised, animated music videos, bringing to life memorable moments from Uber trips over the past 12 months. It offers a trip down musical memory lane through a data-driven experience that turns their Uber trip history into a personalised year-in-review music video. Each video is created with scenes informed by a rider’s riding patterns, making the music video unique to them.

According to Sanjay Gupta, Head of Marketing, Uber India, the campaign aims to bring together data and moments, among them Indian cultural elements and festivals.

We are excited to launch a campaign that takes inspiration from the everyday experiences of our riders across over 100 cities in the Asia-Pacific region, including 29 cities in India.

A first for Uber, this modular experience features over 5,000 possible story combinations, bespoke song and lyrics, and humorously-crafted animations. Riders in India can take a look back at their own #YearWithUber here

For more details, visit 2017 with Uber

|In: Technology|Last Updated: | 0 Comments

Truecaller released their annual Year in Calling statistics that give a dive into the rise of spam calls throughout the year in different parts of the world.

Image Source – TrueCaller

The Year in Calling report has anonymously aggregated data from the app’s most popular features showcasing how the app has saved millions of users from spammers, and even has fun facts like what countries are the most talkative and what are not. Truecaller says over 10 billion calls [up 5x compared to last year] were made using the app since the beginning of the year, and over 40 million unique spam numbers were identified by Truecaller users.

In comparison to their 2016 report, Truecaller has added their newest feature, SMS messaging. Launched in April, Truecaller’s SMS app has added an an extra sense of protection from known spammers that plague phones with unnecessary advertisements, scams, or harassment. The unique features of the SMS app filter junk SMS into a separate folder for the user to quickly switch back and forth if they want to view how many spam messages Truecaller identified. Since launch, Truecaller users has sent over 639 million SMS, and has helped its users to identify and block over 3 billion spam SMS.

The report also revealed

  • Somalia is for the second year in a row the country that makes the most calls per person. The average Truecaller Somalian user makes roughly 19 calls per day, and receives 14 calls. In contrast, Argentina doesn’t seem to talk very much on the phone – they slide in last place with their incoming and outgoing calls.
  • The top tags around the world are banks, doctors, telcos, real estate brokers, and taxis. The tags most popular last year was restaurants and hotels.
  • The country that sent the most SMS around the world was Tazania. The average user from Tanzania sends approximately 10 SMS per day, and receives about 16! And Chile sent the least.
  • It seems that 2017 was the year of the telcos, because one number in Nigeria connected with a telco made 38 million calls. In India, another telco made 31 million calls from just one number.
  • Another telco sent over 53 million spam SMS to their customers in India.


Throughout the year, Truecaller has been releasing Truecaller Insights data reports on a regular basis which dive in various statistics of spam call patterns like Top Countries Affected by Spam Calls, e-commerce competition, banking, and other insights.

To read the full report please visit here