Suhani Jain, Author at Your Tech Story

Uber Sells 7.8 Percent Stake In Zomato In $373 Million Block Deal: Check Details.

Uber Technologies Incorporated, an American Mobility service provider, is expected to sell a 7.8 % stake in the food delivery platform, Zomato on 3 August 2022, Wednesday, through a $373 million (approximately Rs. 2900 crores) block deal according to a familiar source and a document seen by the new agency.

Zomato purchased Uber Eats’ India operation in a non-cash deal in January 2020. As a result, Uber received approximately a ten percent stake in the restaurant discovery platform.

The proposal size of $373 million (approximately Rs 2,900 Crores) was on the basis of the lower end of a Rs 48- Rs 54 price range determined for the block deal with a discount of 2.8-13.6 percent to the closing price on the National Stock Exchange of Rs 55.55 on Tuesday, the document stated.

The sole lead coordinator in the issuance of this block deal is BofA Securities, an American multinational investment banking division under Bank of America.

An inner firm memo viewed by the news agency disclosed that the Indian food Delivery Platform with backing from China’s Ant Group is taking reorganizing its management into account so that its discrete businesses would have its chief executive officer whereas the parent corporation would be renamed as “Eternal”.

Deepinder Goyal, Chief Executive Officer of Zomato, in the memo specified that the corporation was currently not only operating the Zomato food delivery business but also other large businesses. Goyal said the businesses also include Blinkit, a proposed purchase of grocery-delivery startup, food Ingredients and kitchen supply business Hyperpure, and a non-profit organization whose purpose is to decrease hunger in poor Indian communities known as Feeding India.

“We are transitioning from a company where I was the CEO to a place where we will have multiple CEOs running each of our businesses…all acting as peers to each other”, Goyal stated in the memo.
Source: gadgets360.com

Deepinder Goyal specified in the memo that the proposed name for the parent corporation, “Eternal” would stay as an “Internal name for now”.

Zomato’s shares hit rock bottom last week as a one-year shares lock-in time duration for employees, advisors and other investors terminated and it posted a smaller quarterly loss, helped by some gain in orders for restaurant meals on its platform on 1 August 2022, Monday. The net loss of the firm was Rs. 1.86 Billion for the three months ended on 30 June, IN comparison with a loss of Rs. 3.56 Billion, which was recorded a year ago, the firm stated in a regulatory filing. On 27 July, Its shares changed by 37 per cent from a low of Rs 40.55 on the Bombay Stock Exchange.

On Tuesday, Uber Stated in its earnings report that it had experienced an unexpected loss of $245 million in the second quarter and $707 million in the course of the first half of 2022 on its investment in Zomato. These unexpected losses are related to the reappraisal of its stakes in America-based self-driving technical firms Aurora, Indonesian mobility service provider firm, Grab and Zomato.

“I would say that change is always slow and then it is actually fast. You don’t wake up one day and say now I want to change and then change happens overnight. So, I think over the last year, we have been really prepping and working hard to set up the infrastructure to make this change happen. This quarter is when all of those things actually started to happen,” cofounder and chief executive Deepinder Goyal specified, on whether the corporation had intentionally concentrated on profitability currently.
Source: economictimes.indiatimes.com

The Ceo specified that their Food delivery platform, Zomato, had already invested approx. 150 million USD in BLinkit as a loan before they declared the acquisition in march.

Suhani Jain

I am a student pursuing my bachelor’s in information technology. I have a interest in writing so, I am working a freelance content writer because I enjoy writing. I also write poetries. I believe in the quote by anne frank “paper has more patience than person

Reliance Jio Top Bidder in 5G Spectrum Auction, Auction Ends With Over Rs 1.5 Lakh Crore.

India’s largest ever auction of telecommunication spectrum recorded a 1.5 lakh crore worth of 5G spectrum bids. It was a 7-day auction that ended on Monday. Mukesh Ambani’s Jio reliance acquired nearly half of all the airwaves sold with an Rs. 88,078 crore Bid.

“The auction has been completed and in the next few days, till August 12, all formalities incl approving and allocating, and taking upfront payments will be completed. It seems we would be able to launch 5G in the country by October”, said the Union telecom Minister.
He said,” Government expect good nationwide 5G coverage in the next 2-3 years.
Source: www.livemint.com

The government introduced a total of ten bands in the spectrum but it did not collect any bids for airwaves in 600 MHz, 800 MHz, and 2300 MHz bands. some (two-thirds) of the bids were for the 5G 3300 MHz and 26 GHz bands whereas most (more than a quarter) of the demands were for the 700 MHz band. It is the band that was unsold in the previous auctions conducted in 2016 and 2021, surprisingly has a high demand in this auction which is being conducted in 2022.

Mukesh Ambani’s Reliance Jio will be the only telecommunication company to offer 5G Internet connectivity using a 700Hz spectrum footprint. It has acquired the 700 Hz and 800 Hz bands around twenty-two circles. It will pay an amount of 7,877 crores per year throughout the next twenty years with an interest rate of 7.2 % per annum.

Jio’s 5G solution is made in India, by Indians and to suit the need of every Indian. Jio is fully ready for 5G rollout in the shortest period of time because of its nationwide fibre presence, all-IP network with no legacy infrastructure, indigenous 5G stack and strong global partnerships across the technology ecosystem,” Jio highlighted in its statement.
Source: www.news18.com

With its unmatched 700 MHz spectrum footprint, Jio will be the only operator providing pan-India True 5G services with faster speeds, lower latency and massive connectivity,” Jio said in its statement.
Source: www.news18.com

“We will celebrate ‘Azadi ka Amrit Mahotsav’ with a pan India 5G rollout. Jio is committed to offering world-class, affordable 5G and 5G-enabled services. We will provide services, platforms and solutions that will accelerate India’s digital revolution, especially in crucial sectors like Education, Healthcare, Agriculture, Manufacturing and e-Governance and make another proud contribution to Honourable Prime Minister’s DIGITAL INDIA MISSION”, said Chairman of Reliance Jio, Akash M Ambani.
Source: www.news18.com

Reliance Jio has purchased a low-band, mid-band, and mm-Wave spectrum, which strengthens stable and constant internet connectivity with the deep fiber network and inventive and resourceful technology platforms for customers along with business providers.

The wrap-up from the 5G spectrum, capable of providing ultra-high speed smartphone connectivity, is approximately double at Rs. 77,815 crores worth 4G airwaves traded last year.

Gautam Adani’s Group, who participated as a rival of Mukesh Ambani’s Jio reliance, purchased a bid worth Rs. 212 Crore for 400 MHz, or less than 1% of the whole sold spectrum. This band was not used for providing public telecom services.

The Indian Government has traded up to 71% of the whole spectrum, making Rs. 1,50,173 Crores.

Along with offers to power ultra-low latency connections that allow a user to download full-length high-quality videos or movies to a smartphone in a flash even in crowded areas. 5G (fifth generation) would allow solutions such as e-health, deeply engaging augmented reality and metaverse experiences, connected devices, life-saving use cases, and innovative cloud gaming.

Suhani Jain

BGMI Banned in India: Here’s What Google and Krafton Said.

Leave a Comment / News, Tech News / By Suhani Jain

The most addictive and famous game, Battlegrounds Mobile India (BGMI), is removed from the Google Play Store and Apple App Store after a Government order. Despite its disappearance from app stores, it will run on the devices it is already installed on. This game was the altered version of PUBG (PlayerUnknown’s Battlegrounds) which was a battle royal game, developed by Krafton. BGMI had over 100 million registered users in the country just after a year it was relaunched after PUBG was deemed illegal in India.

In 2020, the Indian government banned twenty Chinese apps and it was on the list of banned apps because of its involvement with the Chinese game development firm Tencent Games. Those apps were banned due to security risk reasons.

An NGO, PRAHAR, has requested the government to ban the Chinese gaming application BGMI in February 2020 and to enlist it in the fifty-four Chinese app list, stating its unavailability in the list is a “clear lapse in judgement on part of the Government”.
Source: www.news18.com

RSS, the Rashtriya Swayamsevak Sangh confederate Swadeshi Jagran Manch, has also supported PRAHAR’s request and urged for an investigation on antecedents and Chinese influence on BGMI, according to a report by IANS.

Google has officially announced that it has received an official order for the removal of BGMI from the India Government and Krafton confirmed the same.

Google in a statement said, “On receipt of the order, following established process, we have notified the affected developer and have blocked access to the app that remained available on the Play Store in India.”
Source: www.91mobiles.com

Why It Is Banned?

Meanwhile, Krafton said, “we are clarifying how BGMI was removed from Google Play and will let you know once we get specific information.”
Source: www.91mobiles.com

While there is not any proper statement or reason given for its ban, #BGMI, and #BGMIban hashtags are trending on Twitter. It seems to have connected to the violent incidents happening. Recently, there was an incident where a 16-year-old boy shot and killed his mother only because of some argument over online games such as PUBG. The incident was under investigation.

While some reports mentioned the reason as the same as PUBG Mobile, the government is distressed about the issues regarding data transmigration and its connection to the Chinese firms. The real reason will be soon disclosed by the government.

Rajeev Chandrashekhar, Union Minister, also noted that banned apps such as PUBG, which were banned in India, are resurfacing in new forms targeting BGMI, as it was also launched as the latest version of PUBG Mobile.

BGMI has been the most renowned app among Chinese apps that was rebranded and relaunched with similar features and managed to stay out of government eyes. Maybe because of its high popularity among gamers.

Its developer Krafton seemed to have invested about 100 million U.S dollars for the development and relaunching of BGMI and an esports ecosystem over the past years in India. So, the ban of this game will be a big blow to it in India. It will also affect the gaming market in India. The firm recently declared surpassing 100 million registered android and Ios users. chief Executive officer of Krafton, Changhan Kim, said

“India is an important market for Krafton. We are positive about the opportunities in the country and are committed to create a robust gaming ecosystem. Our focus is pivoted towards constantly elevating the mobile gaming experience for our growing community and invest in the flourishing start-up landscape here”.
Source: gadgets360.com

Suhani Jain

Google Maps Street View Feature Is Coming To These Indian Cities First, Check If Your City Is On The List.

Leave a Comment / News, Tech News / By Suhani Jain

Google Maps brought in a new feature in India which is one of the major add-ons to the services. It introduced brand new features of the street view at the Google I/O administered this year. With this street view feature, Indians will experience a 360- degree outlook of the different small regions like landmarks, streets, and regions that were not shown on the map like residential areas or any other location. This feature will provide great help to those who want to know about or explore different unpopular regions in India before investing money or time. Also, it shows local cafes and cultural hotspots. It will enhance the whole tourism experience In India.

“Street View will help people navigate and explore new corners of the country and the world more visually and accurately, enabling them to fully experience what it’s like to be in these places, right from their phone or computer”, Google said.
Source: www.indiatoday.in

Street View will be accessible in India on Google Maps with the latest imagery licensed from local collaborators. It will cover about 1,50,000 km over ten cities in India. Google maps proposed this deal back in 2016 but was rejected by the government of India because, according to their policies, it is not allowed to retain imagery data of the country. Although, a new policy, the new National Geospatial policy, 2021, is introduced which allows such features on the condition that the foreign firms won’t own the imagery data. Genesys International and Tech Mahindra played an important role in bringing this feature to India.

Google maps collaborated with an advanced mapping solutions firm, Genesys International and Tech Mahindra to provide a more thorough and detailed look at any location. This tech Giant has announced to extend this feature to 50 cities in India by 2022. For Now, it will be introduced in the following cities:

Bengaluru, Chennai, Mumbai, Delhi, Hyderabad, Amritsar, Ahmedabad, Pune, Vadodara and Nashik. It is already available in Bengaluru.

Google has confirmed its partnership with the traffic authorities and collectors to provide help to people in above right cities and make them aware of travel decisions and avoid overcrowded areas with information about different road closures and incident zone.

It has also collaborated additionally with CPCB (Central Pollution Control Board) to provide knowledge and details about travel decisions in provision with authoritative air quality details. Everyone can get access to this information by tapping into layers and selecting the ‘Air Quality option.

How to use this feature:

To use this street view feature, search for a place you need information about, set the pin, select an area for a place marker, or you can use the street view layer.
Search for a region, and place the pin.
On Your android device, phone or tablet, open the Google Maps application.
Hold the place to drop the pin
In the end, add the place name or address
Scroll down and tap on the photo with the label “street View” or you can select the thumbnail with a street view icon 360 images.
After you’re done with all this, tap on back at the top left twice.
Now click on the place marker.

How to view the street view layer:

On your android device, smartphone or tablet, open the Google Maps app.
Click on the Layers shown at the top and then the street view
Street View coverage is shown by a blue line on the map. Tap on any blue line to enable the street view.

This feature will bring many great, revolutionary, and innovative changes to India. It will be a great experience for all the explorers and travelers. Brace yourself for a whole new experience.

Suhani Jain

5G spectrum Auction Begins: These 13 Cities Will Get 5G Services First In India.

Leave a Comment / News, Tech News / By Suhani Jain

The auctions for the deployment of the 5G spectrum has initiated in India for a nationwide 5G roll-out. They are supposed to be concluded over the next few days and hopefully by the month-end. A spectrum with a 20-year time frame with a validity of over 72 GHz is up for auction. The spectrum auction includes spectrum in several frequency bands having both low (600 GHz, 700 GHz, 800 GHz, 900 GHz, 1800 GHz, 2100 GHz, and 2300 GHz) and high (26 GHz).

There have been claims about the speed of 5G by the government that it will be about ten times faster than the 4G we’re currently using. It will bring an enormous change to the telecommunication industry. Now, after speculation by DOT (Department of Telecommunication), the 5G service will be established in India in 2020 as you know, the auctions have already started.

It is also claimed by the department of telecommunications that the 13 cities all over the country will get the chance to establish 5G at first. Then it will slowly expand over the other parts of the country as there are many parts of the country where there are places with no 4G connectivity and last week Jio established 4G connectivity in a town named Pangong Lake in the Ladakh region. The cities that will get the 5G are Delhi, Gurugram, Gandhinagar, Mumbai, Pune, Jamnagar, Lucknow, Bengaluru, Chennai, Chandigarh, Hyderabad, Kolkata, and Ahmedabad.

Currently, there is no information about the telecom operator corporation, which will be the first to commercially and successfully deploy this 5G spectrum services in India. The leading telecom operator firms such as Airtel, Jio, and Vi (Vodafone and Idea) have already initiated setting up their trial sites in mentioned cities.

The Department of Telecommunication has collaborated with eight agencies that are IIT Bombay, IIT Delhi, IIT Hyderabad, IIT Madras, IIT Kanpur, IISC Bangalore, Society for Applied Microwave Electronica & Engineering, and Center of Excellence in Wireless Technology, for the national 5G test bed project initiated in 2018.

The Department anticipated a price range of 70,000 crores to 1,00,000 crores from the 5G spectrum auctions that would usher in great new age offerings and innovative business models which would enable high-speed connections, and generate high revenue for various enterprises, and provide employment emerging from the allocation of innovative use-cases and technologies. The biddings are expected to last for about two days. The 72 GHz will be worth 4.3 lakh crore INR.

It is also anticipated that Mukesh Ambani’s Jio will be leading the expense, followed by Bharti, and Airtel while there is meager participation seen from Vodafone Idea (Vi) and Adani Group. Reliance Jio has an Earnest Money Deposit of 14,000 crores, while its competitor Adani Group has made a minor deposit of 100 crore INR. There would be less chance of aggressive bidding as there are only four participants in the race. While Reliance Jio may be intensely bidding in the auctions, there is not any major bidding by Adani Group.

The government is searching for various measures to cut off the expense of performing business for Telecommunication Service Provider firms. It announced reforms in the telecom sector in September 2021, which will serve as a huge benefit for this spectrum auction. The reform comprises zero Spectrum Usage Charges (SUC) on the spectrum that will be purchased in the coming auctions. The telecom Service providers will be receiving a significant relief from SUC being the cause as it will reduce their operational costs for them. It will be seen as an immense revolution in the telecom industry, providing many opportunities for providers and consumers.

Suhani Jain

Swiggy – A Bangalore-based Food Ordering And Delivery Platform.

Leave a Comment / Story, Tech Story / By Suhani Jain

Swiggy is a leading Indian food ordering and delivery platform which also provides services like on-demand grocery delivery known as Instamart and a same-day package delivery called Swiggy Genie. It was founded eight years ago in July 2014 by Sriharsha Majety, Nandan Reddy, and Rahul Jaimini, headquartered in Banglore, India, with its business expanded across 500+ Indian cities (2021). Naspers owns it. SuprDaily and Dineout are its two subsidiaries. Besides the founders, Dale Vaz, who is the Chief Technical Officer of Swiggy, contributed a lot to it and is one of the key people. It achieved a revenue of 2,776 Crore INR in 2020.

History

In 2013, Sriharsha Majety and Nandan Reddy devised an e-commerce website to provide shipping and courier services called Bundl in India. It was discontinued due to various reasons. They decided to rebrand it to enter the food delivery industry. The food delivery industry was in chaos at that time because of the rising competition. The different startups like Foodpanda, acquired by Ola Labs, Ola Cafe (later discontinued), and TinyOwl, purchased by Zomato, were struggling. Swiggy founders joined hands with a former senior software engineer at Myntra, Rahul Jaimini, and established Swiggy and Its parent company Bundl Technologies in 2013.

In 2019, Swiggy started Swiggy Stores, a general product delivery service, sourcing items from local stores. The firm launched an instant grocery service known as Instamart with the help of dark stores in August 2020. Swiggy Stores were closed in early 2021, and the firm decided to expand its services using Instamart. In September 2019, Swiggy came up with a new service, a pickup and delivery service known as Swiggy Go which provided services such as delivering documents, laundry, parcels, etc., from business owners to retailers, and was rebranded as Swiggy Genie.

Unfortunately, In May 2020, Due to the covid-19 pandemic, it fired over 1000s of employees, and later in 2021, it decided to cover vaccination costs for its delivery partners.

Revenue

The company experienced growth in revenue from 2015 (0.11 crores INR) to 2020 (2,693 crores INR), which got reduced in 2021 (2,145).

Acquisitions And Investments

In 2015, Accel and SAIF partners invested 2 million U.S dollars in Swiggy. It also received additional investment from Norwest Venture Partners. In 2016, it obtained an investment of about 15 million U.S dollars from its investors, including some new investors such as Bessemer Venture Partners and Harmony Partners. Naspers entrusted funding of 80 million to Swiggy in 2017. Due to this growth of investments and investors, Swiggy’s value increased to 3.6 million USD in April 2020.

It acquired 48East, a Banglore-based Asian Food start-up in 2017 and Mumbai-based Scootsy Logistics, a fashion and food delivery service which was later shut down. Also, in September 2018, it purchased a Mumbai-based milk delivery start-up SuprDaily and invested about 31 crores INR in a ready-to-eat Mumbai-based food brand, fingerLix, in 2019.

Partnerships

It has partnered with several renowned brands such as Burger King, Google Local Guide, Sodexo, ICICI Bank and ANRA Technologies.

Founders – Nandan Reddy, Sriharsha Majety, Rahul Jaimini

Rahul Jaimini is the Co-founder of Swiggy and Pesto Tech, born in Banglore. He also worked as a senior software engineer at Myntra, a member of technical staff at NetApp, and a research lab intern at Philips Research. Rahul holds a Bachelor’s and Master’s dual degree in computer science and engineering from the Indian Institute of Technology, Kharagpur.

Co-founder Nandan Reddy is also a BITS Pilani alumnus and worked as a consultant. He also built a start-up around tablet-based POS for different restaurants and Café and has been in the core management team of India’s first rural BPO, Source Pilani. Bundl, a logistic platform, was also built by him.

CEO – Sriharsha Majety

Chief Executive Officer Sriharsha Majety is also the co-founder of Swiggy and Bundl. He also worked as an associate member in Nomura International, Recruitment coordinator in IIM Calcutta, and holds a degree in finance from the Indian Institute of Management, Calcutta.

Suhani Jain

Suhani Jain

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