show in asia in ~ben rooney #in shanghai. — talking tiger ... · the number of internet.org users...

1
Jochelle.Mendonca @timesgroup.com Mumbai: Amazon India has set up a call centre with a difference. While most ecommerce compa- nies have call centres to connect with customers, the Indian arm of the United States-based etailer has come up with one to deal exclusive- ly with merchants, as increasing the number of sellers in a market- place becomes the next battlefront in online retail business. For Amazon, too, this is the first call centre of its kind anywhere in the world. The company has had to adopt the marketplace model to find its way around India’s regula- tions governing foreign direct in- vestment in multi-brand retail. In a marketplace model, the ecom- merce firm provides just the tech- nology platform while sellers on the site own the inventory. “In a marketplace, you need to have a large variety of merchants in order to attract customers to the site. Amazon has created an out- sourced call centre with about 100 agents to deal with merchant is- sues,” a person familiar with the matter told ET. Amazon India has outsourced the call centre to Aegis, business proc- ess outsourcing company owned by the Essar Group, and the num- ber of agents could be increased as more merchants get on the plat- form, said the person, requesting not to be named. Aegis declined to comment while an email query sent to Amazon India remained unanswered till Tuesday evening. “The idea is to create an interface that merchants may be more com- fortable using. So far, the interac- tions with merchants have been through online portals and emails. This call centre will give them a person to talk to, to discuss issues related to refunds to customers, re- bates and logistic is- sues,” a second per- son privy to the de- velopment said. Experts said Amazon may have started a trend that its rivals could follow as the number of merchants increase. Sellers, Amazon has a No. for You Amazon India sets up call centre to serve merchants in India Health 78% Office based physicians & 59% Hospitals in the US will not be able to access patients’ elec- tronic health records A Day Without Data Data is so pervasive in our daily life today that we are heavily dependent on it to power global systems. But have we ever stopped to imagine what could happen if data came to a standstill for a day.? Here is a look at the possible outcome of this scenario 500 million Tweets would not be shared Communication 1.75 billion Smartphone users in the world will not be able to use their phones 182 billion E mail messages will not be received and sent 4.9 million Skype users will not be able to spend 2 billion minutes on IMs and video calls 1.5 million Indian farmers use mobile phones for data on market prices, crop volumes and weather forecasts Indian Scenario For Hundreds of millions of Indians a smart- phone is the only piece of technology E- commerce Social Media 70 million Photos would not be shared on Instagram Shipping FACEBOOK 864 million Facebook users will not be able to spend an average of 39 minutes 4.75 billion FB posts will not be shared 10 billion FB messages will not be sent 244 million Members on Amazon $ 2 billion Amount retailers will lose by way of sales 149 million Members on eBay Entertainment 903.3 million Pay TV subscribers will lose access 55.8 million Music hours that Pandora users will stand to lose SOURCE: NETAPP GRAPHIC: GEETANJALI Transportation 16,320,000 Cars will not be able to use GPS naviga- tion systems 87,000 Flights will not be able to use air traffic control 58 million UPS tracking information requests will not be submitted 50 million FedEx tracking informa- tion requests will not be submitted 4 million Locations of iPhone shipments ordered will not be known TALKING TECH 8 lakh The number of Internet.org users in India, according to Facebook. The service is so far available only in 7 telecom circles Google is all set to announce Android M later this week at Google I/O. This time there have been very few rumours. Accord- ing to Android Police, this release of Android will be more focused on perform- ance than addition of new features. Google will im- prove both battery and RAM performance with this software update. Tech BUZZ For comprehensive and insightful stories about all things startups and technology, log on to www.ettech.com Android M may be All About Battery Life Social net- working giant Twitter is in talks to buy article-sharing app Flip- board. Twitter could pay more than $1 billion in stocks to make the acquisition, VentureBeat reported. California- based Flipboard was launched in 2010 and the company has raised more than $160 million with backing from Kleiner Perkins Caufield & Byers, Index Ventures, Insight Venture Partners and Rizvi Traverse Management. — IANS Twitter may Buy Flipboard for $1 billion Samsung to Launch ‘Iron Man’ Phones You can’t get your hands on the ultra-thin, futuristic Sam- sung phone Tony Stark uses in “Avengers: Age of Ultron” — because it doesn’t exist. But you will be able to buy a special Iron Man handset. As part of a tie-in with Marvel’s summer blockbuster, End- gadget reports that the firm is releasing a special edition Iron Man-themed version of its Galaxy S6 Edge. There’s no indication of pricing yet, but availa- bility will be limited. It isn’t on sale outside of Asia. It is set to launch in SKorea on May 27, with China and HK in June. — Business Insider ANIRBAN BORA Quick Byte Bharani.Vaitheesvaran @timesgroup.com Chennai: Not instantly spotable, but palm-sized sensors are silent- ly streaming data on ATM vitals from room temperature to natu- ral light sources to the movement of the security guard, leveraging Internet of Things (IoT) to help service providers run cash-vend- ing machines on lighter oper- ational expenditure models. Companies such as Chennai- based Financial Software & Sys- tems and Gurgaon’s CMS Solu- tions have applied IoT and soft- ware-automated processes to help banks cut costs across the board by saving power, curbing pilferage, managing incidents such as stuck debit cards, and even remotely controlling the ATM to shut it whenever the secu- rity alarm goes off. IoT, which makes devices com- municable and operable through wireless transmissions, is wit- nessing increasing application in a host of sectors such as retail, manufacturing, healthcare and banking. In ATM management, it is fast emerging as the first-level monitor. “Remote ATM-monitor- ing through sensors has avoided the task of sending technicians to fix glitches at ATMs. This has cut costs enormously,” said Nagaraj Mylandla, founder and managing director of FSS, which manages over 30,000 ATMs across the coun- try for many private and public sector banks with State Bank of India, the country’s biggest lend- er, being the anchor customer. FSS has deployed software to de- tect and inform about common incidents that may happen at an ATM: card reader malfunctions, stuck receipts, low cash reserves and high degree of power wast- age. The automation is executed by a package developed in-house called Active Device Monitoring, which is a sensor network bunched with software that alerts a central location about glitches. “This takes care of first- level monitoring in an ATM. This process required an engineer to visit and inspect,” he added. An ATM guzzles . `35,000 a month on an average on operational and maintenance expenditure, with the average cost per transaction, excluding the security guard’s in- come, at . `10-25. The company offers 8-10% re- duction on operational costs with its IoT and software initiatives deployed over the last year. FSS is installing cash recyclers at the ATMs of its clients to fun- nel deposited cash into the ATM machines for withdrawal, cut- ting the need for cash refills. Technicians Make Way, IoT Sensors will Take Care of ATMs Costly Option `35k/month Avg operational and maintenance expenditure `10-25 Avg cost per transaction (excluding security) WHAT IOT OFFERS Save power Curb pilferage Manage incidents like stuck debit cards Remote controlling ATM in case of security breach Madhav Chanchani & Aditi Shrivastava Bengaluru: Tiger Global Manage- ment, the largest investor in Indian startups, has turned its attention to another high-potential segment in online commerce — accommoda- tion aggregators — as it aggressive- ly expands in the country having al- ready struck more than a dozen fresh deals this year. The New York-based fund is in dis- cussions with Nestaway and Zo Rooms to invest . `65-95 crore ($10-15 million) in each firm, according to multiple people aware of the devel- opments. India has emerged a hot investment destination for Tiger Global, which this year has already deployed more than $600 million (about . `3,800 crore) in the country, betting big on the internet segment. Its rapid pace of deal-making is al- tering the dynamics of early-stage investments, pushing the first round of institutional fundraising, or series-A rounds, to above $10 mil- lion from the typical $4-5 million, making it tough for rival investors to stitch deals. In addition to new and follow-on investments this year in late-stage portfolio companies including Flipkart, Tiger Global has closed several early-stage deals since Ja- nuary in emerging segments such as on-demand local services (Grof- ers, Localoye); financial technolo- gy (Moneyview); education tech- nology (Vedantu, CultureAlley); digital media (Culture Machine, News In Shorts); and mobile gam- ing (Moonfrog Labs). “Tiger Global comes in, invests $10 million and calls it a seed deal,” said the managing partner of a Ben- galuru-based venture capital firm, declining to be identified. “Where does that leave an investor like me?” Nestaway, an online marketplace for shared accommodation, is in talks with investors including Ti- ger Global to raise about . `95 crore ($15 million) for its series-A round, said two venture capital investors. Zo Rooms, an online budget hotel stay brand launched five months ago, is in talks with a consortium led by Tiger Global to raise . `65-95 crore, the people mentioned above said. Tiger Global declined to com- ment while Nestaway and Zo Rooms did not reply to emails sent by ET. None of the people aware of the de- velopments agreed to be identified as the discussions may or may not materialise. With its deep pockets and its abili- ty to back companies as diverse as Flipkart, Commonfloor, Limeroad and FreshDesk across fundraising stages, Tiger Global has been able to establish itself as the go-to inves- tor for startups in the country, steered by Lee Fixel, the co-head of its PE and VC investing arm. “Tiger, till date, was only advising portfolio companies in India on a strategic level, but now the fund is increasing its presence in India and is likely to be more active at an oper- ational level,” said Sumit Jain, chief executive of online real estate classifieds CommonFloor. Tiger Global’s $600 million invest- ments in India this year account for nearly two-fifths of the $1.6 billion raised by domestic technology and ecommerce companies. The firm led investments in Shopclues and Delhivery and participated in Ola’s latest fund-raising round — three of the five largest technology financ- ing deals struck this year, accord- ing to research firm VCCEdge. Tiger Now Burns Bright for New Field: Accommodation Tiger Global is in discussions with Nestaway and Zo Rooms to invest . `65-95 cr in each firm Grofers, Localoye On-demand local services Moneyview Financial technology Vedantu, CultureAlley Education technology Culture Machine, News In Shorts Digital media Moonfrog Labs Mobile gaming $600 milli on Amount Tiger Global has already deployed in India Firm has bet big on the internet segment Investments account for nearly two-fifths of the $1.6 billion raised by domestic tech & ecomm companies EARLY-STAGE DEALS FIRM HAS CLOSED SINCE JANUARY Tiger’s Share Evel yn Fok & Aditi Shrivastava Bengaluru: You may be among the millions of urban Indian con- sumers who have decided not to step out this summer as much as possible and are happy shopping online even as blistering heat waves sweep across the country. Ever wondered about the chal- lenges thousands of delivery boys traversing the streets on their two- wheelers and their employers — ecommerce companies, on-de- mand startups and third-party lo- gistics providers — face on the ground to ensure that deliveries are made on time and profitably? There are plenty of obstacles. The most glaring one, say indus- try insiders, is identifying the end customer’s location in the first place. GPS navigation may be good enough to guide one to a new loca- tion, but one can’t find each and ev- ery address in these mapping ap- plications, particularly when it comes to smaller towns and non- metro cities. Despite delivery companies and enterprise solution providers de- veloping systems-based routing technologies in-house, “the map- ping technology is not 100%. You still have to follow up with the de- livery boys from time to time on the road,” said Rishi Khiani, CEO and managing director at Mumbai-based incubator Ant Farm, which is piloting a cross- vertical delivery service in Mum- bai this month. Kapil Bharati, cofounder and CTO at Delhi-based logistics pro- vider Delhivery, added that find- ing the delivery address is more problematic in tier-II and tier-III towns, where the geographical correlates of addresses are, more often than not, unavailable. Delivery Boys Lost in Maze On-ground challenges faced by delivery staff are yet to be resolved The Hurdles Identifying the end customer’s location Finding the delivery address is more problematic in tier- II and tier-III towns Navi- gating using a mobile app Understanding and operating card pay- ment mechanisms Responding to safe- ty and health relat- ed issues Commu- nicating with cus- tomers Fake bank notes CAN’T SPOT IT GPS may be good enough to guide one to a new location, but one can’t find every address in these mapping apps Our Bureau Bengaluru: Cab aggregator Taxi- ForSure has revamped its mobile app and tied up with mobile pay- ment services provider Paytm in an attempt to offer seamless book- ing and payment solution to its customers. The Bengaluru-based company has been aggressively spending on expansion and technology development since the previous quarter to make up for lost time after a cash crunch forced it to sell itself to bigger rival Ola in March for $200 million (about . `1,280 crore). “Eighty per cent of our bookings come from the mobile app and more than 35% of our customers use cashless wallet,” said Arvind Singhal, who became the CEO of TaxiForSure post the merger. Customers of TaxiForSure will now be able to book a cab in one touch and in less than five seconds through a technology that even its parent Ola does not offer, said Singhal, a BTech from IIT Bombay who joined the company from McDonald’s, where he was the di- rector south-marketing. TaxiForSure, which earlier had an in-house wallet, will now use that to store credits and company- led promotion money while Paytm will be the company’s outsourced rechargeable wallet. Uber too uses Paytm as its only payment method since it got into trouble with the Reserve Bank of India last year for violating the two-step authentication mandate. However, while Paytm is Uber’s only payment method, TaxiFor- Sure will accept cash. TaxiForSure Ties Up with Paytm WHAT’S IN STORE TFS, which earlier had an in-house wallet, will now use that to store credits and company-led pro- motion money Globe Trotter A roundup of tech stories from all over BENGALURU Singapore-based on- line streaming service Hooq, will launch a beta version of its service in India on Wednesday ahead of a formal roll-out next month. The startup — a JV between Singapore’s telecom giant Singtel, Sony Pic- tures Television and Warner Bros — will offer over 10,000 Hollywood blockbusters, television soaps and popular local programmes for a monthly subscription of . `199. These can be viewed on five de- vices including mobile phones and tablets, via an app and mobile web, PCs or Android set-top boxes. Hooq currently operates in the Philip- pines and Thailand . Get Ready to Get Hooq(ed) CHINA Taiwan’s Foxconn Tech- nology is aiming to develop 10-12 facilities in India, including facto- ries and data centres, by 2020, Chairman Terry Gou said. The com- pany could spend a “few billion dollars” on developing the facil- ities, said Gou, whose company's listed flagship unit is Hon Hai Pre- cision Industry. “A lot of our cus- tomers, especially Chinese custom- ers, need us to manufacture ... in India, to make phones, tablets, TVs, as soon as possible,” Gou said in an interview in China's southern Guiz- hou province. — Reuters Foxconn has Plans f or I ndia SHANGHAI Despite being blocked in China, Twitter is courting Chinese companies to buy advertising space on its service used by more than 300 million people elsewhere in the world. This week, the popular microblog platform has made pre- sentations to prospective Chinese clients in Shanghai on the sidelines of the inaugural Consumer Elec- tronics Show Asia. “It’s not a coinci- dence that we are here now," Peter Greenberger, director of sales for emerging markets at Twitter, said on Tuesday. — Reuters Twitter has China in Sight 6 THE ECONOMIC TIMES | MUMBAI | WEDNESDAY | 27 MAY 2015 Startups & Tech IN A HEART BEAT: Smart headset that can perceive heartbeat is on display at the first Consumer Electronics Show in Asia in Shanghai. —AFP Heartfelt | Music to My Heart Sean Gardner2 @morrowknight Important #entrepreneur lesson learned. You never get anything without asking & the worst that can happen is someone says no ~Ben Rooney #in Here is a look at the median CEO pay by industry last year, as calculated by executive compensation data firm Equilar and AP CEOs at health care cos earned the most for the sixth time in the last seven years The biggest gain in pay was in the basic materials industry Pay dropped the most for financial cos CEOs at utility cos earned the least Health Care Sector CEOs Highest Paid HEALTHCARE BASIC MATERIALS SERVICES INDUSTRIAL GOODS CONSUMER GOODS FINANCIAL TECHNOLOGY UTILITIES $13.6 million $12.6 million $10.8 million $10.8 million $10.7 million $10 million $9.3 million $8.9 million 4% 15% 9% Unchanged Unchanged 3% 10% 9%

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Page 1: Show in Asia in ~Ben Rooney #in Shanghai. — TALKING Tiger ... · The number of Internet.org users in India, according to Facebook. The service is so far available only in 7 telecom

[email protected]

Mumbai:Amazon India has set upa call centre with a difference.While most ecommerce compa-nies have call centres to connectwith customers, the Indian arm ofthe United States-based etailer hascome up with one to deal exclusive-ly with merchants, as increasingthe number of sellers in a market-place becomes the next battlefrontin online retail business.

For Amazon, too, this is the firstcall centre of its kind anywhere inthe world. The company has had toadopt the marketplace model tofind its way around India’s regula-tions governing foreign direct in-vestment in multi-brand retail. Ina marketplace model, the ecom-merce firm provides just the tech-

nology platform while sellers onthe site own the inventory.

“In a marketplace, you need tohave a large variety of merchantsin order to attract customers to thesite. Amazon has created an out-sourced call centre with about 100agents to deal with merchant is-sues,” a person familiar with thematter told ET.

Amazon India has outsourced thecall centre to Aegis, business proc-ess outsourcing company ownedby the Essar Group, and the num-ber of agents could be increased asmore merchants get on the plat-form, said the person, requestingnot to be named. Aegis declined tocomment while an email querysent to Amazon India remainedunanswered till Tuesday evening.

“The idea is to create an interfacethat merchants may be more com-fortable using. So far, the interac-

tions with merchants have beenthrough online portals and emails.This call centre will give them aperson to talk to, to discuss issuesrelated to refunds to customers, re-bates and logistic is-sues,” a second per-son privy to the de-velopment said.Experts saidAmazon mayhave started atrend that itsrivals couldfollow as thenumber ofmerchants increase.

Sellers, Amazon has a No. for YouAmazon India sets up call centre to serve merchants in India

Health78%Offi ce based physicians &

59%Hospitals in the US will not be able to access patients’ elec-tronic health records

A Day Without DataData is so pervasive in our daily life today that we are heavily dependent on it to power global systems. But have we ever stopped to imagine what could happen if data came to a standstill for a day.? Here is a look at the possible outcome of this scenario

500 millionTweets would not be shared

Communication

1.75 billionSmartphone users in the world will not be able to use their phones

182 billionE mail messages will not be received and sent

4.9 millionSkype users will not be able to spend 2 billion minutes on IMs and video calls

1.5 millionIndian farmers use mobile phones for data on market prices, crop volumes and weather forecasts

Indian Scenario

For Hundreds of millions of

Indians a smart-phone is the only piece of

technology

E- commerce

Social Media

70 millionPhotos would not be shared on Instagram

Shipping

FACEBOOK

864 millionFacebook users will not be able to spend an average of 39 minutes

4.75 billionFB posts will not be shared

10 billionFB messages will not be sent

244 millionMembers on Amazon

$2 billionAmount retailers will lose by way of sales 149 million

Members on eBay

Entertainment

903.3 millionPay TV subscribers will lose access

55.8 millionMusic hours that Pandora users will stand to lose

SOURCE: NETAPP GRAPHIC: GEETANJALI

Transportation

16,320,000Cars will not be able to use GPS naviga-tion systems

87,000Flights will not be able to use air traffi c control

58 millionUPS tracking information requests will not be submitted

50 millionFedEx tracking informa-tion requests will not be submitted

4 millionLocations of iPhone shipments ordered will not be known

TALKINGTECH

8lakhThe number of Internet.org users in India, according to Facebook. The service is so far available only in 7 telecom circles

Google is all set to announce Android M later this week at Google I/O. This time there have been very few rumours. Accord-ing to Android Police, this release of Android will be more focused on perform-ance than addition of new features. Google will im-prove both battery and RAM performance with this software update.

TechBUZZ

For comprehensive and insightful stories about all things startups and technology, log on to www.ettech.com

Android M may be All About Battery Life

Social net-working giant Twitter is in talks to buy

article-sharing app Flip-board. Twitter could pay more than $1 billion in stocks to make the acquisition, VentureBeat reported. California-based Flipboard was launched in 2010 and the company has raised more than $160 million with backing from Kleiner Perkins Caufield & Byers, Index Ventures, Insight Venture Partners and Rizvi Traverse Management. — IANS

Twitter may Buy Flipboard for $1 billion

Samsung to Launch ‘Iron Man’ Phones

You can’t get your hands on the ultra-thin, futuristic Sam-

sung phone Tony Stark uses in “Avengers: Age of Ultron” — because it doesn’t exist. But you will be able to buy a special Iron Man handset. As part of a tie-in with Marvel’s summer blockbuster, End-gadget reports that the firm is releasing a special edition Iron Man-themed version of its Galaxy S6 Edge. There’s no indication of pricing yet, but availa-bility will be limited. It isn’t on sale outside of Asia. It is set to launch in SKorea on May 27, with China and HK in June. — Business Insider

ANIRBAN BORA

Quick Byte

[email protected]

Chennai: Not instantly spotable,but palm-sized sensors are silent-ly streaming data on ATM vitalsfrom room temperature to natu-ral light sources to the movementof the security guard, leveragingInternet of Things (IoT) to helpservice providers run cash-vend-ing machines on lighter oper-ational expenditure models.

Companies such as Chennai-based Financial Software & Sys-tems and Gurgaon’s CMS Solu-tions have applied IoT and soft-ware-automated processes tohelp banks cut costs across theboard by saving power, curbingpilferage, managing incidentssuch as stuck debit cards, andeven remotely controlling theATM to shut it whenever the secu-rity alarm goes off.

IoT, which makes devices com-municable and operable throughwireless transmissions, is wit-nessing increasing application ina host of sectors such as retail,manufacturing, healthcare andbanking. In ATM management, itis fast emerging as the first-levelmonitor. “Remote ATM-monitor-ing through sensors has avoidedthe task of sending technicians tofix glitches at ATMs. This has cutcosts enormously,” said NagarajMylandla, founder and managingdirector of FSS, which managesover 30,000 ATMs across the coun-try for many private and publicsector banks with State Bank ofIndia, the country’s biggest lend-er, being the anchor customer.

FSS has deployed software to de-tect and inform about commonincidents that may happen at an

ATM: card reader malfunctions,stuck receipts, low cash reservesand high degree of power wast-age. The automation is executedby a package developed in-housecalled Active Device Monitoring,which is a sensor networkbunched with software thatalerts a central location aboutglitches. “This takes care of first-level monitoring in an ATM. Thisprocess required an engineer tovisit and inspect,” he added.

An ATM guzzles .̀ 35,000 a monthon an average on operational andmaintenance expenditure, withthe average cost per transaction,excluding the security guard’s in-come, at .̀ 10-25.

The company offers 8-10% re-duction on operational costs withits IoT and software initiativesdeployed over the last year.

FSS is installing cash recyclersat the ATMs of its clients to fun-nel deposited cash into the ATMmachines for withdrawal, cut-ting the need for cash refills.

Technicians MakeWay, IoT Sensors willTake Care of ATMs

Costly Option`35k/monthAvg operational and maintenance expenditure

`10-25 Avg cost per transaction (excluding security)

WHAT IOT OFFERS

∙ Save power

∙ Curb pilferage

∙ Manage incidentslike stuck debit cards

∙ Remote controlling ATM in case of security breach

Madhav Chanchani & Aditi Shrivastava

Bengaluru: Tiger Global Manage-ment, the largest investor in Indianstartups, has turned its attention toanother high-potential segment inonline commerce — accommoda-tion aggregators — as it aggressive-ly expands in the country having al-ready struck more than a dozenfresh deals this year.

The New York-based fund is in dis-cussions with Nestaway and ZoRooms to invest .̀ 65-95 crore ($10-15million) in each firm, according tomultiple people aware of the devel-opments. India has emerged a hotinvestment destination for TigerGlobal, which this year has alreadydeployed more than $600 million(about .̀ 3,800 crore) in the country,betting big on the internet segment.Its rapid pace of deal-making is al-tering the dynamics of early-stageinvestments, pushing the firstround of institutional fundraising,or series-A rounds, to above $10 mil-lion from the typical $4-5 million,making it tough for rival investorsto stitch deals.

In addition to new and follow-oninvestments this year in late-stageportfolio companies includingFlipkart, Tiger Global has closed

several early-stage deals since Ja-nuary in emerging segments suchas on-demand local services (Grof-ers, Localoye); financial technolo-gy (Moneyview); education tech-nology (Vedantu, CultureAlley);digital media (Culture Machine,News In Shorts); and mobile gam-ing (Moonfrog Labs).

“Tiger Global comes in, invests$10 million and calls it a seed deal,”said the managing partner of a Ben-galuru-based venture capital firm,

declining to be identified. “Wheredoes that leave an investor likeme?”

Nestaway, an online marketplacefor shared accommodation, is intalks with investors including Ti-ger Global to raise about .̀ 95 crore($15 million) for its series-A round,said two venture capital investors.Zo Rooms, an online budget hotelstay brand launched five monthsago, is in talks with a consortiumled by Tiger Global to raise .̀ 65-95

crore, the people mentioned abovesaid. Tiger Global declined to com-ment while Nestaway and Zo Roomsdid not reply to emails sent by ET.None of the people aware of the de-velopments agreed to be identifiedas the discussions may or may notmaterialise.

With its deep pockets and its abili-ty to back companies as diverse asFlipkart, Commonfloor, Limeroadand FreshDesk across fundraisingstages, Tiger Global has been ableto establish itself as the go-to inves-tor for startups in the country,steered by Lee Fixel, the co-head ofits PE and VC investing arm.

“Tiger, till date, was only advisingportfolio companies in India on astrategic level, but now the fund isincreasing its presence in India andis likely to be more active at an oper-ational level,” said Sumit Jain,chief executive of online real estateclassifieds CommonFloor.

Tiger Global’s $600 million invest-ments in India this year account fornearly two-fifths of the $1.6 billionraised by domestic technology andecommerce companies. The firmled investments in Shopclues andDelhivery and participated in Ola’slatest fund-raising round — three ofthe five largest technology financ-ing deals struck this year, accord-ing to research firm VCCEdge.

Tiger Now Burns Bright forNew Field: AccommodationTiger Global is in discussions with Nestaway and Zo Rooms to invest .̀ 65-95 cr in each firm

Grofers, LocaloyeOn-demand local services

MoneyviewFinancial technology

Vedantu, CultureAlleyEducation technology

Culture Machine, News In ShortsDigital media

Moonfrog LabsMobile gaming

$600 millionAmount Tiger Global has already deployed in India

Firm has bet big on the internet segment

Investments account for nearly two-fifths of the $1.6 billion raised by domestic tech & ecomm companies

EARLY-STAGE DEALSFIRM HAS CLOSEDSINCE JANUARY

Tiger’s Share

Evelyn Fok & Aditi Shrivastava

Bengaluru: You may be amongthe millions of urban Indian con-sumers who have decided not tostep out this summer as much aspossible and are happy shoppingonline even as blistering heatwaves sweep across the country.

Ever wondered about the chal-lenges thousands of delivery boystraversing the streets on their two-wheelers and their employers —ecommerce companies, on-de-mand startups and third-party lo-gistics providers — face on theground to ensure that deliveries

are made on time and profitably?There are plenty of obstacles.The most glaring one, say indus-

try insiders, is identifying theend customer’s location in thefirst place.

GPS navigation may be goodenough to guide one to a new loca-tion, but one can’t find each and ev-ery address in these mapping ap-plications, particularly when itcomes to smaller towns and non-metro cities.

Despite delivery companies andenterprise solution providers de-veloping systems-based routingtechnologies in-house, “the map-ping technology is not 100%. Youstill have to follow up with the de-livery boys from time to time onthe road,” said Rishi Khiani, CEO and managing director atMumbai-based incubator AntFarm, which is piloting a cross-vertical delivery service in Mum-bai this month.

Kapil Bharati, cofounder andCTO at Delhi-based logistics pro-vider Delhivery, added that find-ing the delivery address is moreproblematic in tier-II and tier-IIItowns, where the geographicalcorrelates of addresses are, moreoften than not, unavailable.

Delivery Boys Lost in MazeOn-ground challenges faced by delivery staff are yet to be resolved

The HurdlesIdentifying the end customer’s location

Finding the delivery address is more problematic in tier-II and tier-III towns

Navi-gating using a mobile app

Understanding and operating card pay-ment mechanisms

Responding to safe-ty and health relat-ed issues

Commu-nicating with cus-tomers

Fake bank notes

CAN’T SPOT IT

GPS may be goodenough to guide one to anew location, but onecan’t find every addressin these mapping apps

Our Bureau

Bengaluru: Cab aggregator Taxi-ForSure has revamped its mobileapp and tied up with mobile pay-ment services provider Paytm inan attempt to offer seamless book-ing and payment solution to itscustomers.

The Bengaluru-based companyhas been aggressively spending onexpansion and technology development since the previousquarter to make up for lost time after a cash crunch forced it to sell itself to bigger rival Ola inMarch for $200 million (about.̀ 1,280 crore).

“Eighty per cent of our bookingscome from the mobile app andmore than 35% of our customersuse cashless wallet,” said ArvindSinghal, who became the CEO ofTaxiForSure post the merger.

Customers of TaxiForSure willnow be able to book a cab in onetouch and in less than five secondsthrough a technology that even itsparent Ola does not offer, saidSinghal, a BTech from IIT Bombaywho joined the company fromMcDonald’s, where he was the di-rector south-marketing.

TaxiForSure, which earlier hadan in-house wallet, will now usethat to store credits and company-led promotion money while Paytmwill be the company’s outsourcedrechargeable wallet.

Uber too uses Paytm as its onlypayment method since it got intotrouble with the Reserve Bank ofIndia last year for violating thetwo-step authentication mandate.However, while Paytm is Uber’sonly payment method, TaxiFor-Sure will accept cash.

TaxiForSureTies Up with Paytm

WHAT’S IN STORE

TFS, which earlier had anin-house wallet, will nowuse that to store creditsand company-led pro-motion money

Globe Trotter A roundup of tech

stories from all over

BENGALURU Singapore-based on-

line streaming service Hooq, will

launch a beta version of its service

in India on Wednesday ahead of a

formal roll-out next month. The

startup — a JV between Singapore’s

telecom giant Singtel, Sony Pic-

tures Television and Warner Bros —

will offer over 10,000 Hollywood

blockbusters, television soaps and

popular local programmes for a

monthly subscription of .̀ 199.

These can be viewed on five de-

vices including mobile phones and

tablets, via an app and mobile web,

PCs or Android set-top boxes. Hooq

currently operates in the Philip-

pines and Thailand .

Get Ready to Get Hooq(ed)

CHINA Taiwan’s Foxconn Tech-

nology is aiming to develop 10-12

facilities in India, including facto-

ries and data centres, by 2020,

Chairman Terry Gou said. The com-

pany could spend a “few billion

dollars” on developing the facil-

ities, said Gou, whose company's

listed flagship unit is Hon Hai Pre-

cision Industry. “A lot of our cus-

tomers, especially Chinese custom-

ers, need us to manufacture ... in

India, to make phones, tablets, TVs,

as soon as possible,” Gou said in an

interview in China's southern Guiz-

hou province. — Reuters

Foxconn has Plans for India

SHANGHAI Despite being blocked

in China, Twitter is courting Chinese

companies to buy advertising

space on its service used by more

than 300 million people elsewhere

in the world. This week, the popular

microblog platform has made pre-

sentations to prospective Chinese

clients in Shanghai on the sidelines

of the inaugural Consumer Elec-

tronics Show Asia. “It’s not a coinci-

dence that we are here now," Peter

Greenberger, director of sales for

emerging markets at Twitter, said

on Tuesday. — Reuters

Twitter has China in Sight

6 �THE ECONOMIC TIMES | MUMBAI | WEDNESDAY | 27 MAY 2015Startups & Tech

IN A HEART BEAT:Smart headset that can perceive heartbeat is on display at the first Consumer Electronics Show in Asia in Shanghai. —AFP

Heartfelt | Music to My HeartSean Gardner2 @morrowknight

Important #entrepreneur lesson learned. You never get anything without asking & the worst that can happen is someone says no

~Ben Rooney #in

Here is a look at the median CEO pay by industry last

year, as calculated by executive compensation data firm Equilar and AP

CEOs athealth care cos earned the most for the sixth time in the last seven years

The biggestgain in pay was in the basic materials industry

Pay dropped the most for financial cos

CEOs atutility cos earned the least

Health CareSector CEOs

Highest Paid

HEALTHCARE

BASIC MATERIALS

SERVICES

INDUSTRIAL GOODS

CONSUMER GOODS

FINANCIAL

TECHNOLOGY

UTILITIES

$13.6 million

$12.6 million

$10.8 million

$10.8 million

$10.7 million

$10 million

$9.3 million

$8.9 million

4%

15%

9%

Unchanged

Unchanged

3%

10%

9%

Sankhadip.Dey
Typewritten Text
Source: http://articles.economictimes.indiatimes.com/2015-05-27/news/62719626_1_data-standstill-scenario