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    [Jobs Roundup] Be a part of digital India’s journey with these jobs in fintech startups

    [Jobs Roundup] Be a part of digital India’s journey with these jobs in fintech startups


    Also read: At AWS Fintech Day 2019, the fintech community gathered to discuss the latest innovation trends in the industryGone are the days of standing in long queues to withdraw or deposit money at a bank. The financial technology (Fintech) sector is...

    Also read: At AWS Fintech Day 2019, the fintech community gathered to discuss the latest innovation trends in the industry


    Gone are the days of standing in long queues to withdraw or deposit money at a bank. The financial technology (Fintech) sector is redefining the way we track, manage, and facilitate our finance on a daily basis. From digital wallets to mobile banking, fintech companies have simplified our lives in many ways.


    Though the fintech industry is relatively new in India as compared to other countries, it has shown promising growth. According to India Fintech Report 2019, there were only 737 fintech startups in the country. And in 2019, the number has increased to 2,035, making it the world’s second biggest fintech hub, next to the US. The report says the fintech sector has raised $2 billion in funding across 165 deals in 2018 alone, with payments constituting the largest share, followed by lending, wealth tech, personal finance, insurtech, regtech, and others.


    The sunrise industry has also given a boost to job creation. If you are determined to make a cut into the fintech domain, YourStory has curated a list of jobs.


    Paytm Money

    Head of Treasury

    Expereince needed: not specified

    As head of treasury, you will have to retail brokerage treasury function and manage the overall treasury function of the entity. Your responsibilities will include developing a relationship with banks to ensure guarantee lines and maintain relation with rating agencies, mutual funds, and other sources of borrowing. You will also have to manage cash flow of the company on a daily basis.

    For more information, click here.


    MobiKwik

    Head of Public Relations and Communications

    Expereince needed: not specified

    The candidate will have to develop a communication plan including strategy, goals, budget, and tactics, and also work on media relations strategy, seeking high-level placements in print, broadcast, and online media. The candidate will also have to manage media enquiries and interview requests, and also leverage existing media relationships and cultivate new contacts within business and industry media. The candidate will also monitor, analyse, and communicate PR results on a quarterly basis. 

    For more information, click here.


    MobiKwik

    Data Scientist

    Experience needed: 4 years

    As a data scientist, the candidate will have to work with multiple stakeholders to understand the requirements, challenges, and opportunities of existing systems. The candidate should use their expertise in data science to propose solution that will add value to the business.

    For more information, click here.


    Zest Money

    HR Operations Manager

    Experience needed: 2-6 years

    The candidate should have expertise in HR operations across compensation and benefits, employee relations, HR policy and frameworks, and compliance with HR laws. The candidate should take initiatives to get things done when there is an opportunity for improvement and should also possess strong communication and interpersonal skills.

    For more information, click here.


    LendingKart

    Customer Support Role

    Experience needed: 0-5 years

    The company is looking for a candidate with good communication skills and ready to make at least a hundred calls on a daily basis. Prior experience in BPO or tele sales experience is preferred.

    For more information, click here.


    InCred

    Area Sales Manager

    Experience needed: not specified

    The candidate should have an entrepreneurial mindset, drive sales number and report to management, and work towards building the location as a profit centre. As area sales manager, the candidate should always be aware of market trends and competitor intelligence, and achieve the sales target set by the organisation on a monthly, quarterly, and annual basis.

    For more information, click here.


    Ziploan

    Assistant Vice-President-Repayment Operations

    Experience needed: 9-12 years

    The candidate should have prior experience in managing EMI presentation process and strong understanding of CMS ecosystem in terms of reoccurring payments, which includes repayment through ECS / NACH / Escrow modes of presentment and banking. The candidate will have to identify the need of automation and process improvement and drive the same in the unit and co-ordinate with stakeholders to support and manage daily business operations.

    For more information, click here.


    Also read: Paytm Payments Bank posts Rs 19 Cr profit for FY19


    Imbibe, interpret, inspire: how these artworks at Gallery G showcase diversity in creativity

    Imbibe, interpret, inspire: how these artworks at Gallery G showcase diversity in creativity


    PhotoSparks is a weekly feature from YourStory, with photographs that celebrate the spirit of creativity and innovation. In the earlier 340 posts, we featured an art festival, cartoon gallery, world music festival, telecom expo, millets...

    PhotoSparks is a weekly feature from YourStory, with photographs that celebrate the spirit of creativity and innovation. In the earlier 340 posts, we featured an art festival, cartoon galleryworld music festivaltelecom expomillets fair, climate change expo, wildlife conference, startup festival, Diwali rangoli, and jazz festival.


    Gallery G in Bengaluru was launched in 2003 by Gitanjali Maini to showcase contemporary Indian artists, make artworks available at affordable rates, and provide consultancy services for collectors, investors, architects and interior designers. It also partners with the Kochi-Muziris Biennale, and sources art for venues like Four Seasons Hotel.


    Its recent exhibitions have featured artists like Ganapati Hegde, Bose Krishnamachari, Sangeeta Abhay, Nitin Nangare, Sujith Kumar, Buwa Shete, Om Swami, Prakash Ghadge, Anni Kumari, and Mohammad Osman.


    Other featured artists such as Ajay Ghose, Partha Sarathi, and Budhaditya Banerjee are practitioners of the tempera style. The technique involves mixing colour pigments with fatty substances such as egg yolk.


    Born and raised in Kumta, Ganapati Hegde’s works are a colourful blend of thick flora and fauna, which also draw on themes from Indian mythology. They convey messages of oneness, symbiosis, and co-dependence. Ganapati has won a range of awards from the Lalit Kala Academy and Camlin Art Foundation. He graduated from the Ken School of Art, Karnataka University and Bengaluru Open University, and has worked as a designer as well.


    Bose Krishnamachari is a prolific painter as well as co-founder of the Kochi Muziris Biennale. Sangeeta Abhay is known for her paintings and interpretations of Buddha, while mother-and-child depictions are the signature theme of Buwa Shete. Prakash Ghadge and Anni Kumari brilliantly showcase their skills using only black and white artworks.


    Mohammad Osman, based in Hyderabad, specialises in art depicting rural life in Telangana. The series on display at Gallery G centres on the gangireddu or decorated ox (also known as basava in Kannada). Lavishly-decorated oxen and their feats are a colourful part of village festivities during Sankranti or Pongal, as he explains in an interview with YourStory in Part II of this photo essay.


    Now, what have you done today to pause in your busy schedule and look at how to reshape and re-launch your creativity?


    Got a creative photograph to share? Email us at PhotoSparks@YourStory.com!


    See also the YourStory pocketbook ‘Proverbs and Quotes for Entrepreneurs: A World of Inspiration for Startups,’ accessible as apps for Apple and Android devices.


    Also read: Support traditional and folk arts, don’t just learn about them: Sankalita Das, Secure Giving

    Best of Weekender – A tête-à-tête with a restaurateur, dealing with post-GoT blues and more...

    Best of Weekender – A tête-à-tête with a restaurateur, dealing with post-GoT blues and more...


    If you are wondering where to get your Game of Thrones fix now that the series has come to an end, don’t mope too much. There are plenty of new TV shows in the pipeline that several networks will roll out soon, and you will discover many other enticing...

    If you are wondering where to get your Game of Thrones fix now that the series has come to an end, don’t mope too much. There are plenty of new TV shows in the pipeline that several networks will roll out soon, and you will discover many other enticing ways to fill the Westeros-sized hole in your heart.


    From the second season of Sacred Games and Big Little Lies to Season 6 of Brooklyn Nine-Nine to Season 3 of The Crown, look out for narratives with high drama, comic police drills and royal intrigues. Check out the titles we have curated for you to help you get over your post-GoT blues this year.


    What's next after GoT?

    How many youngsters do you know who start a business at the age of 19? And how many of them go on to launch innovative restaurants and bars with names like Plum by Bent Chair and Lord of the Drinks? Meet Priyank Sukhija, MD and CEO of First Fiddle F&B Pvt. Ltd who dropped out of college as a teenager to follow his passion for food. Today, he has successfully converted his passion into one of the most creative and flourishing businesses in the hospitality industry.


    Priyank Sukhija

    Don’t miss an exclusive interaction with the entrepreneur, as he talks about his restaurants, how he launched karaoke and sufi nights at his outlets, merged retail with fine dining and still finds ways to bring something new to the table.


    A view of Amsterdam

    Not everyone can afford the luxury of disconnecting from work while travelling. And so, Vandita Purohit, Founder of Pune-based TraWork, did the next best thing. She popularised the concept of 'work' holidays, which makes work away from work possible.


    The travel startup facilitates travel and work opportunities for working professionals who find it hard to find time to travel thanks to their hectic working schedules.


    At the heart of the idea is travel, but Vandita and her team ensure that these trips are well-worth your time by arranging visits to local events and experiencing the local cultural scene.


    Don’t miss reading all about this exciting new way to work.


    Chef Sebastian Simon

    How do you cook a great Indian dish? How do you cook every part of a fish for dinner? What are the top food trends this year? Chef Sebastian Simon from Melbourne has many answers to our culinary questions.


    He is in Bengaluru to hold master classes in the city, so here’s your chance to find out more about his style of cooking and how to attend his classes.


    Sebastian’s philosophy and approach to cooking has always focussed on creativity and depth of flavour. Avoid processed food, waste less and watch out for food miles, says this skilled chef as he shares some of his secrets of great cooking with us.  


    Who is a guru? Is Karma fatalism? What are asuras? If you’ve been bogged down with all kinds of spiritual questions, check out our review on Devdutt Pattanaik’s new book, where he answers these and other questions.


    Devdutt Pattanaik’s book, Faith – 40 Insights into Hinduism

    The author has been a student of religion and mythology almost all his life and his books are an attempt to make this knowledge – often limited to scholarly works – accessible to regular folks.


    And finally, if your idea of perfect happiness is cuddling your dogs when you get home and if you believe that karma will bite people back, you will find a kindred soul in Rahul Bajaj, director and conceptualiser of Out of the Blue, Bandra’s trusty old joint.


    Rahul Bajaj

    Rahul believes that innovation is the key to living well and his creativity can be seen in the way he runs his business. In his responses to our Proust questionnaire, he tells us all about his most treasured possessions, his real-life heroes, his favourite writers and much more.


    And his motto, ‘Life is like ice cream, enjoy it before it melts’, is surely, the most deliciously grim philosophy to live by.

    The ultimate guide for entrepreneurs to get startup funding in India


    ...

    Imagine this.


    You have a brilliant idea for a business. You round up a handful of people who believe in that idea. You guys pool in money from your savings and work on building the product around the idea. Your startup is beginning to get some traction now with an ever increasing customer base, which forces you to expand your operations and your team. Before you know it, your startup has captured a significant chunk of the market, is profitable and all poised for an initial public offering (IPO).


    I know. This situation for a startup can only exist in an idealistic imagination while the reality can be far more scary, unpredictable, and full of unexpected surprises.


    The startup ecosystem has glorified raising money, sometimes more than making money itself, making the task seem more arduous and elitist than it actually is. (Image: Franck V. on Unsplash

    Also read: From Priyanka Chopra to Deepika Padukone: Bollywood actors are investing in startups


    Let’s not take away the credit from amazing entrepreneurs who have actually achieved it. But they belong to a rather small elite minority.


    More often than not, startups depend on financial help from the outside to get things moving. The primary reason being is that the journey of a startup is not necessarily as rosy as it has been painted earlier. There is a good chance you might need external help in the form of (mostly)  money.


    But the problem is that the startup ecosystem has glorified raising money, sometimes more than making money itself. To a point where raising money for your startup itself is seen as a success. And this has inadvertently made raising money look very complicated, hard and only worthy of an elite few. This alone has intimated and demotivated a lot of promising entrepreneurs.


    The objective of this post is to demystify the notion that raising money is not as complicated and also shed light on the different options you have as an entrepreneur to raise money, what the procedure is and what might be appropriate for you and your business.


    What do you mean by funding or raising money?


    Well, it is evident that any business would have expenses, and someone has to pay for them. Capital, or money, is the most essential requirement for a company to grow. The concept of running your business is that at some point in time, you will make more money than what you have spent.


    Without adequate financing for your business, your startup is at the risk of imploding or going nowhere. To solve this problem and limit risks, business owners usually seek financial help from the outside. This can be in the form of debt or by sharing partial ownership of the company.


    This, is what “raising money” means. In simple terms, you borrow money from external sources to fund your operations, development and growth of your business.


    How startup funding works


    As discussed before you can raise money for your business in one of two forms: debt and equity.


    Debt is basically a loan where you borrow money from an individual or a bank at an agreed upon interest rate. You pay back the borrowed money along with interest on top of it within a predetermined time.


    But there is a glaring problem with this one.


    If you choose to take this route, you take on 100 percent of the risk yourself, and you have an obligation to pay back the borrowed money. Also, usually, the process to get a loan is tedious and is restricted to businesses that already have a decent cash flow already.


    To reduce the risk, some business owners raise money by giving partial ownership of the company, in the form of equity (shares). The investor will get a share of your company for the money he has lent, but you are under no obligation to pay back the money.


    Usually, investors prefer to wait it out and cash out their investment with something called an “exit” wherein the investor gets to sell his shares of the company. The exit usually happens when the value of the investor’s share is exponentially higher than what he bought it for.


    This is a rather oversimplified but an overarching explanation of how funding for your startup works. Let’s dive a little more to understand all the different options you would have as an entrepreneur to raise capital.


    The different ways to raise money



    Bootstrapping


    Well, the good news is that this option is available for every entrepreneur. Bootstrapping means building your startup from scratch with your own money and funding the everyday operations with sales of your offering.


    Of course, most entrepreneurs reach out to their closed circuit of family and friends to gather some more money, which also comes in the purview of bootstrapping. Usually, this is done not only to diversify risk but also because it is unlikely that your friends and family will be tough on getting the money back.


    Until very recently, bootstrapping was the only way to go and still is one of the most preferred ways to start a business. But you need to understand that bootstrapping is not easy.


    Bootstrapping is not easy, so expect to make a lot of sacrifices. On the bright side, you have total control of your startup.

    (Image: Fabian Blank on Unsplash)

    Also read: Why Tiger Global and other investors are eyeing Indian B2B startups in their hunt for the next billion-dollar bet


    The entire risk of the business is on the entrepreneur and his team, which can be a double blow since most entrepreneurs dip into their savings. It also affects how fast and how much you can grow. This can sometimes inhibit the way the offering is developed and sold. With bootstrapping, expect to make a lot of sacrifices and compromises.


    On the other hand, you as an entrepreneur gets to keep the entire pie; meaning total control of your company. You are likely to focus all your efforts on developing your product and financing it through sales rather than external financing. Since you are not inclined to borrow money, your costs in the form of interest or equity go down considerably, which helps you inch towards positive cash flow.


    Considering all of these factors, service companies are more prone to be bootstrapped. Having said that, there are plenty of Indian startups which were bootstrapped and has reached incredible heights of success.


    Pros and cons of bootstrapping
    Startup funding down by 76pc; Facebook removes 2.2 billion accounts

    Startup funding down by 76pc; Facebook removes 2.2 billion accounts


    In April, BJP’s election manifesto outlined the party’s plan for developing the country, including startups and small businesses. A lot was promised, including a Rs 20,000 crore ‘Seed Startup Fund,’ a new scheme to provide collateral-free credit...

    In April, BJP’s election manifesto outlined the party’s plan for developing the country, including startups and small businesses. A lot was promised, including a Rs 20,000 crore ‘Seed Startup Fund,’ a new scheme to provide collateral-free credit of up to Rs 50 lakh for entrepreneurs, etc. For the Indian startup community, there remained a few concerns as well like the ease of doing business, too much paperwork, and a plethora of regulations. Exactly what do startups expect in the next five years? More investors, easy registrations, and more.



    Startup funding down 76pc as India waited for election results


    This week, startup funding saw a significant slowdown ahead of the results of the 2019 General Elections. The ecosystem raised only $45.6 million across nine deals. While Contagious Online Media, which owns and operates The Viral Fever (TVF), raised $5 million (Rs 34.6 crore) in Series D from Tiger Global Management, Gurugram-based Spinny raised $13.2 million in Series A led by Accel and SAIF Partners.



    SucSEED Venture Partners invests in XploraBox


    New Delhi-based Imagismart Solutions, which runs educational subscription activity box for children Xplorabox, raised angel funding led by SucSEED Venture Partners, with participation from Green Shoots Capital, Metaform Ventures LLC, JITO Angel Network, and SWAN Angel Network, among others. The startup plans to use these funds to scale up rapidly and establish an overseas presence.



    Facebook removes a record 2.2 billion fake accounts


    In its Community Standards Enforcement Report for the first quarter of 2019, Facebook claims it removed 2.2 billion fake accounts during this period in a serious crackdown on "bad actors". In the last quarter of 2018, the social networking giant had removed 1.2 billion accounts, implying that the number of fake accounts doubled in just three months.



    With GIFkaro, say it with customised GIFs or make your own


    Love 'em or hate 'em, but you cannot avoid GIFs anymore. They are everywhere - social media, instant messages, and even emails. But while a lot of global content is seamlessly translated into GIFs, everyone wants GIFs specially made for them. Meet GIFkaro, a New Delhi-based app that you can use to create short GIFs in Hindi, Gujarati, Marathi, Bengali, Tamil, Telugu, Kannada, Malayalam, Punjabi, and English.



    Amazon's next device will be able to read human emotions


    Tech giant Amazon is developing a voice-activated, wrist-worn gadget that can recognise human emotions. Described as a health and wellness product, the wearable device will work with a smartphone app. The device is expected to determine a person’s emotional state just from the sound of the wearer’s voice. However, it is unclear if the device will be commercialised at all.


    Now get the Daily Capsule in your inbox. Subscribe to our newsletter today! 


    Breaking up Facebook won’t solve issues: Mark Zuckerberg responds amid growing backlash

    Breaking up Facebook won’t solve issues: Mark Zuckerberg responds amid growing backlash


    Amid a growing backlash and clamour to break up Facebook, Mark Zuckerberg, CEO and Co-founder of the social networking giant, opened up to share his take. In his opinion, breaking up the company is not exactly going to fix their problems. If anything,...

    Amid a growing backlash and clamour to break up Facebook, Mark Zuckerberg, CEO and Co-founder of the social networking giant, opened up to share his take. In his opinion, breaking up the company is not exactly going to fix their problems. If anything, the antitrust remedies will make it even harder to curb issues related to user privacy, election interference, hate speech, and more.

    The 34-year-old tech billionaire shared these ideas during a conference call on Thursday, outlining Facebook’s attempts to moderate harmful content.


    Media reports quoted him as saying,


    “If the problems you are most worried about are the ones about…harmful content, making sure that we prevent election interference, making sure that we have the right privacy control, I don't think that the remedy of breaking up the company is going to address those. I actually think it's going to make it a lot harder." 


    Zuckerberg’s arguments were based on the premise of Facebook’s massive scale and competition. According to him, the social network, because of its sheer size, is able to spend on aspects of safety and security in a way none of its competitors can do.


    “The amount of our budget that goes toward our safety systems is greater than Twitter’s whole revenue this year,” said Zuckerberg, “We’re able to do things that I think are just not possible for other folks to do.”


    Incidentally, his remarks come on the heels of a recent New York Times op-ed penned by Chris Hughes, a Co-founder of Facebook.


    Also Read: Facebook Co-founder Chris Hughes calls for company breakup, says the original team is disappointing


    Hughes highlighted the many concerns surrounding the growing power of Zuckerberg and the staggering influence of Facebook. He implored that the US government needs to hold the CEO “accountable”.


    “We are a nation with a tradition of reining in monopolies, no matter how well intentioned the leaders of these companies may be. Mark’s power is unprecedented and un-American,” Hughes added.


    Also Read: Facebook removes a record 2.2 billion fake accounts in major crackdown on spammers and hate speech

    [Weekly funding roundup] Investments in startups down 76pc this week as India prepared for election results

    [Weekly funding roundup] Investments in startups down 76pc this week as India prepared for election results


    Startup funding activity saw a significant slowdown in the fourth week of May ahead of the announcement of results for the Lok Sabha polls. Votes were counted on Thursday, and the incumbent Bhartiya Janata Party-led government returned to power with a...



    Startup funding activity saw a significant slowdown in the fourth week of May ahead of the announcement of results for the Lok Sabha polls. Votes were counted on Thursday, and the incumbent Bhartiya Janata Party-led government returned to power with a strong majority.  


    The week to Friday saw only $45.6 million raised across nine deals, down 76 percent from the previous week, when startups had bagged $196.3 million across 10 deals.


    On the fall in investments, Finway Capital Financial Director Rachit Chawla said:


    “Investors were waiting for the election results, and now, since the results are very convincing, I am hopeful there will be a significant traction in investments going forward.”


    Of the nine deals, three were pre-Series A rounds, two of which were undisclosed, while the third raised $200,000. There were two Series A deals , garnering a total of $16.2 million, while this week saw one deal each in Series B and Series D rounds, of $6.2 million and $5 million, respectively. Another deal – accounting for $18 million – did not disclose the funding round. There was also an undisclosed funding in Livspace.



    Also read: Indian startups raise $275M, Ratan Tata invests after a hiatus - this time in Ola Electric


    Bengaluru-based artificial intelligence chatbot Niki.ai raised convertible debt of Rs 11.6 crore ($1.7 million) between February and May.


    Noida-based crowdsourcing platform My Mobiforce raised $200,000 from angel investors including US-based Arpan Prakash, and Sanjiv Mital, CEO of the National Institute of Smart Government (NISG). Hyderabad-based vernacular hyperlocal news platform PublicVibe (formerly NewsDistill) raised an undisclosed amount led by IAN investors Bikky Khosla (Board of Director) and Prashant Pahade (lead investor). With the investment, both Bikky and Prashant joined the company’s board.


    New Delhi-based Imagismart Solutions, which has educational subscription activity boxes for children under the brand name Xplorabox, received undisclosed funding from SucSEED Venture Partners.


    The bigger fish this week


    Private equity firm Creador, through its affiliate Sundara (Mauritius) Ltd, picked up minority stake in iValue InfoSolutions for Rs 125 crore (about $18 million) this week.


    Gurugram-based Spinny, which operates in the used car space, received $13.2 million in a Series A round led by Accel and SAIF Partners with participation from existing investors Blume Ventures and Simile Ventures. India- and Singapore-based end-to-end IoT platform startup for smart wearables KaHa, raised $6.2 million in a Series B round led by existing investor ICT Fund, a specialised deep-tech VC fund.


    Mumbai-based Contagious Online Media, which owns and operates original video content startup The Viral Fever (TVF), garnered $5 million (Rs 34.6 crore) in a Series D round from Tiger Global Management through its Internet Fund III, according to RoC filings accessed by YourStory.


    LeadSquared, the Bengaluru-based sales execution, automation and predictive analytics platform, received $3 million in Series A funding from Stakeboat Capital. Existing investor Jyoti Bansal, who is the founder of AppDynamics and Harness.io, participated in this round.


    Other deals


    Home design and renovation platform Livspace announced that Ingka Investments, the investment arm of Ingka Group (Ingka Holding B.V. and its controlled entities), made a minority investment in the company for an undisclosed sum.


    Meanwhile, online ethnic goods retailer Craftsvilla raised Rs 6 crore from its Singapore-based parent Supera Investments, according to RoC filings. In other significant fundraising, US-based healthtech platform Biofourmis raised $35 million in a Series B funding round led by Sequoia India and co-led by Mass Mutual Ventures.


    New funds to look at


    India and US-focused Nexus Venture Partners, which invests $500,000 to $10 million per deal in early growth stage companies, closed another $353.5 million for its fifth VC fund, according to its latest filings with the US Securities and Exchange Commission. The fund secured commitments from 32 investors. Another early-stage investment fund - Endiya Partners - said it had completed the first close of its second fund - Endiya Partners Fund 2 at $40 million. The fund, which claims to be the largest B2B focused seed fund, expects to have a total corpus of $70 million and aims to hit its final close by the end of 2019.


    Vertex Ventures, an early-stage venture capital arm of Singapore-based Temasek Holdings, announced the first close of its Southeast Asia and India-focussed Fund IV at $230 million. The firm expects a final closure of the fund over the next few months.


    Also read: Indian startups raised close to $250M in the first week of May

    Bridging gaps in crisis management to enhance corporate management

    Bridging gaps in crisis management to enhance corporate management


    As per the definition, crisis management is the process by which a business, or any other organisation, deals with a specific emergency. However, the notion goes a bit deeper. Crisis management, much like the human body, deploys senses to assess the...

    As per the definition, crisis management is the process by which a business, or any other organisation, deals with a specific emergency. However, the notion goes a bit deeper. Crisis management, much like the human body, deploys senses to assess the crisis holistically, and then adopts a multi-pronged approach. Companies today tread a fine line between survival and disaster; and crisis is an inadvertent part of the business scenario. However, it is a task to avoid the bad from getting worse.


    Since word travels far and wide, it is essential to plug all holes and a crisis should be reprimanded via all social and media platforms and if need be, face-to-face meetings as well. Disaster can also strike in terms of financial expulsions, technical breakdown, product flaws or the workforce. Crisis management involves an in-depth understanding of the problem at hand and the necessary tools to resolve it.


    Also read: 4 ways to use social monitoring to improve crisis management and communication


    What is Corporate Management?


    Corporate management is the technique of running an organisation based on its operative, regulatory and financial pathways. As per businessdictionary.com, business tasks often performed by corporate management might include strategic planning, as well as managing company resources and applying them towards attaining the company's objectives. Today, corporate management is achievable via a Corporate Management System (CMS) which allows organisations to respond to market changes in real time.


    How are crisis management and corporate management connected?


    It is a rather simple equation — the better the crisis management, the smoother the path for corporate management. Upholding the brand value or rectifying it to customers and other stakeholders’ expectations creates a positive image for the organisation. This positive image fuels the tactics that can be leveraged to grow the organisation in a desirable direction.


    Why is there a gap between crisis and corporate management?


    The crux lies in understanding the need for crisis management and what measures can be incorporated to align with the company's existing functionality. The gap between the two can prevail for the following reasons:


    If the organisational team or core team is unaware of the type of crisis at the threshold. Crisis management can be for anything, ranging from a brand perspective to a technical breakdown.They do not have the correct knowledge of the remedial measures that can be adopted to mitigate the crisis.The team is shooting in the dark, trying to choose a trial and error method which will lead to the loss of capital and resources. The organisation is not ready to face the challenges and is hence ill-equipped during the downpour.


    What can lack of crisis management do to an organisation?


    Dissolve the current image: In simple terms, an organisation loses face


    Loss of credibility: With no reputation, customers lose faith


    Impairment of goodwill: No one will trust the organisation


    Loss of reliability: The organisation will lose its reputation of being self-sufficient.


    Impact future growth and progress: Since the organisation is trudging towards saving itself in a crisis, it often loses sight of the future which impacts the growth trajectory.


    High attrition rate: No one likes to be a part of an uncertain future. Lack of proper crisis management can lead to employees leaving.


    Crisis management strategies


    Since catastrophe is an uninvited guest (if we can call it that), it is better to keep in handy a couple of strategies that can either avert the impending disaster or at least soften the blow.


    Have a Plan: This goes without saying. Map the problem on a large scale and define clear objectives for every small step that can untangle the mess one knot at a time.


    Honesty is the Best Policy: The worst thing you can do in times of adversity is hiding it behind a pile of lies which will sink the brand reputation even further. Being transparent and coming out clean doesn’t offer much scope to those looking for dirt and also upscale the brand image as the one that takes ownership — a win-win situation.


    Communication: Communication with the team, customers and suppliers keeps them in the loop of the ongoings, especially during the difficult times. This will bring in inclusiveness and also build trust.


    Update Constantly: By keeping your name clear through constant communication will help erase the taint and not allow space for any rumours.


    Overall Engagement: While it is essential to stay in the clear on social media, ensure you do not miss out on other mediums of print and broadcasting. The tarnish can often be removed by interacting with people, in the flesh, devoid of any intermediary mediums.


    Advantages of good crisis management


    Prevent heavy financial losses: For instance, if the server of a large company is down, even if for a few hours, it can mean a colossal losses. Crisis management planning can, if not foresee, arm the organisation better in case of an impending disaster which can save a considerable amount of resources.


    Legal Protection: Crisis can be in the form of litigations and lawsuits. Having a robust crisis management plan can seal the holes for any legal exposure and save the organisation from going into trial or expending huge costs in fines or penalties.


    Avoids Reputational Damage: This cannot be emphasised upon enough. Reputation can make or break a company, and a robust crisis management plan can steel the reputation against upcoming attacks. There have been way too many instances in the news where hi-profiled CEOs and founders were questioned in public about their practices and a lack of proper explanation for the same.


    The Secret of crisis management is not good v. bad; it’s preventing the bad from getting worse.

    -Andy Gilman

    Also read: The crisis may have passed, but here’s how you effectively manage the aftermath



    (Disclaimer: The views and opinions expressed in this article are those of the author and do not necessarily reflect the views of YourStory.)

    Govt requests for Facebook user data rises by 7 pc globally

    Govt requests for Facebook user data rises by 7 pc globally


    Government requests for Facebook user data increased globally by seven per cent in the second half of 2018 with India being in the second spot after the US in the list of nations asking the social networking giant to divulge details, a top executive of...

    Government requests for Facebook user data increased globally by seven per cent in the second half of 2018 with India being in the second spot after the US in the list of nations asking the social networking giant to divulge details, a top executive of the company has said.


    California-headquartered Facebook, sharing its latest transparency report on Thursday, said it seriously takes the commitment to transparency at the company.


    Guy Rosen, Facebook VP of Integrity, said that in the second half of 2018, government requests for user data increased globally by seven per cent from 103,815 to 110,634.


    "This increase reflects normal growth for the second half as compared to previous reporting periods," he said in a statement on the company's website.



    Also Read: Facebook removes a record 2.2 billion fake accounts in major crackdown on spammers and hate speech


    Of the total volume, the US continues to submit the highest number of requests, followed by India, the UK, Germany and France, Rosen said.


    He said that during the second half of 2018, the volume of content restrictions based on local law increased globally by 135 per cent from 15,337 to 35,972.


    "This increase was primarily driven by 16,600 items we restricted in India based on a Delhi High Court order regarding claims made about PepsiCo products," he said.


    "We've added a new breakout of content restrictions by product - Facebook and Instagram - and their content types - like Pages, profiles and comments - for each platform," the top executive said.


    The report also monitors and reports on identified, temporary internet disruptions that impact the availability of Facebook products.


    "In the second half of 2018, we identified 53 disruptions of Facebook services in nine countries, compared to 48 disruptions in eight countries in the first half of 2018. This half, India accounted for 85 per cent of total new global disruptions," Rosen added.


    Also Read: Political parties spent over Rs 53 Cr to place ads on Facebook, Google

    No private emails or phone numbers accessed improperly: Instagram on Chtrbox data leak

    No private emails or phone numbers accessed improperly: Instagram on Chtrbox data leak


    Instagram on Friday said initial investigations have shown that no private emails or phone numbers of its users have been accessed improperly, amid reports that an Indian entity stored its user data improperly.Earlier this week, it was reported that a...

    Instagram on Friday said initial investigations have shown that no private emails or phone numbers of its users have been accessed improperly, amid reports that an Indian entity stored its user data improperly.


    Earlier this week, it was reported that a database - with over 49 million records, containing information of millions of Instagram influencers, celebrities and brand accounts - was found online. The database was allegedly traced back to Mumbai-based Chtrbox.


    Instagram had said it was investigating whether the third party had improperly stored its user data, which is in violation of its policies.


    In a statement, an Instagram spokesperson said,


    "We take any allegation of data misuse seriously. Following an initial investigation into the claims made in this story, we found that no private emails or phone numbers of Instagram users were accessed".


    Also Read: Mumbai influencer marketing agency leaks private data of 49M Instagram users


    The spokesperson added that Chtrbox's database had publicly available information from many sources, one of which was Instagram.


    Following the reports, Chtrbox - which works with brands and their agencies that leverage its influencer network across the marketing cycle - said that the data of a limited number of influencers was inadvertently exposed but that did not include any sensitive personal information.


    It had termed the reports of private data being leaked 'inaccurate', but acknowledged that "a particular database for limited influencers was inadvertently exposed for approximately 72 hours".


    "This database did not include any sensitive personal data and only contained information available from the public domain, or self reported by influencers," it said in its statement.


    Also Read: Half a million people have downloaded this app to spruce up their Instagram Stories

    The ‘awesome twosome’ Netflix-ACT partnership: What's in it for India?

    The ‘awesome twosome’ Netflix-ACT partnership: What's in it for India?


    We all have a favourite brand of products and more often than not are loyal to that particular brand only. But what if we told you that there’s a good chance that most of your favourite products could be the result of two different brands working...

    We all have a favourite brand of products and more often than not are loyal to that particular brand only. But what if we told you that there’s a good chance that most of your favourite products could be the result of two different brands working together? Over the years, co-branded partnerships have emerged as a great way to marry two classic brands into a unique and elevated experience for customers. Take for instance successful brand partnerships like that of Hershey’s with Betty Crocker, Ford with Tinder, Nike with Apple, IKEA and DreamWorks, Apple and MasterCard, and even KFC with NASA (with a literal product launch!). When two brands decide that there's greater value to be derived by working together in terms of price, perception, market and channels, it leads to a great brand collaboration proving to be a win-win for both parties and their customers.


    This year, we saw one such partnership with ACT Fibernet and Netflix coming together for the #BetterTogether initiative, to provide premium content with super-fast internet. But more on that later!


    Two is better than one


    Let's look at three memorable brand partnerships that shine the light on how to make a success out of these engagements.


    GoPro and Red Bull


    Just the mention of the two in one breath is enough to set the adrenaline racing. A fearless and action-packed lifestyle is what you get if you put GoPro and Red Bull - portable action cameras and energy drinks- together. The duo partner through a series of sporting events. GoPro sources athletes from around the world and provides them tools to capture the action up-close, while Red Bull uses its sponsorship privileges to advertise events. They released a spine-chilling video to showcase their collaboration - which involved daredevil Felix Baumgartner jumping from a space pod almost 24 miles above earth with a GoPro camera secured to himself. He set three world records that day and the partnership reimagined human potential.


    Spotify and Starbucks


    Nothing says RELAX better than having good coffee while listening to great music. That's why Starbucks thought it was natural to partner with Spotify and bring music into its franchises. Starbucks employees received a premium Spotify subscription to curate music to playlists featured on Spotify, and customers earned free drinks if they subscribed to Spotify Premium. This unique in-store music experience brought more than 20 years of popular Starbucks music to both Starbucks customers and Spotify’s 60 million fans worldwide.


    BMW and Louis Vuitton


    Both the brands connote the ultra-luxe lifestyle, which is why BMW and Louis Vuitton make so much sense together. The signature luggage company designed an exclusive, four-piece set of suitcases and bags that would fit perfectly in the rear parcel shelf of BMW’s i8 sports car model. The luggage's design and appearance matched BMW's sleek and high-quality image. The collaboration targeted the sophisticated and professional demographic of buyers who would definitely want to invest in a dream vehicle and travel in style.


    Something along the same lines


    In what promises to be a similar co-branding success story, ACT Fibernet came together with Netflix as part of the #BetterTogether partnership. Customers of ACT Fibernet, which recently refreshed its brand tagline to 'Feel the Advantage', can now enjoy more customer-centric solutions. The partnership with Netflix means you can now stream your favourite shows on high-speed internet. What's even more exciting is that you get paid for it. If you subscribe to Netflix via ACT, you could get cashback up to Rs 350 in Bengaluru, Chennai, Hyderabad, and up to Rs 300 in Delhi while paying your monthly bill.


    Click here to sign up and experience the best of entertainment with ACT Fibernet


    This makes Netflix’s Rs 650 plan (HD quality) and the Rs 800 plan (4K quality) really affordable, and also gives you access to behind-the-scenes premieres, Netflix guides, some really cool merchandise and more. Subscribe now, and enjoy the ACT-Netflix advantage!

    Naturals supports women entrepreneurs to follow their dreams and become financially independent

    Naturals supports women entrepreneurs to follow their dreams and become financially independent


    It’s a well-established fact that a large number of women put their career ambitions on the backburner to take care of their families. According to the Britannia Marie Gold Indian Women Entrepreneurship survey report, 1 of 2 Indian women who were...

    It’s a well-established fact that a large number of women put their career ambitions on the backburner to take care of their families. According to the Britannia Marie Gold Indian Women Entrepreneurship survey report, 1 of 2 Indian women who were homemakers aspired to become financially independent when they were younger. But the biggest barrier for 69 percent was the lack of sufficient funds, 39 percent lacked the right guidance and around 36 percent women didn’t have the confidence to fuel their entrepreneurial spirit. Even those who worked weren’t financially independent, as they had to be constantly accountable to their families for their spend. Since most homemakers don’t come from a business background, they have no clue about what to do in terms of a business. The survey also showed that of the homemakers who aspired to start their own business or pursue a hobby to earn money, 28 percent wanted to start beauty parlors.


    C K Kumaravel and Veena Kumaravel


    Over the years, Naturals has opened 700 plus salons in India, providing entrepreneurship opportunities 450 plus financially independent women, and over 10,000 smile providers. The idea for the salon came out when founder CK Kumaravel’s wife Veena wanted to start something on her own and take up a more meaningful pursuit after her children began attending school, leaving her with more time. "Irritation is the biggest source of energy. If you are irritated with something, look at it very carefully, there lies an opportunity," says Kumaravel.


    During YourStory’s Women on a Mission summit, Kumaravel narrated a story of a franchise partner from Karur, who embodied the importance of financial independence. She was persistent about starting a salon in Karur, Tamil Nadu even though Kumaravel thought Karur wasn't ready for it. "She came from a financially well-off family, and I wondered why someone like her who had everything she needed in life, wanted to open a salon," he says. A year later, she called Kumaravel and thanked him, saying she made a profit of Rs 50,000 in a month. She added that even though she was rich, she always had to provide an account to her family on how each penny was spent. With her own salon, she could use the money for herself, and she was financially independent now.


    A franchise to call your own


    Naturals Salon’s business model is helping hundreds of Indian women find a new career, enabling them to pursue their dreams and become financially independent. The company has 700 plus franchised outlets, of which more than 450 are run by women. Kumaravel says they have a marked preference for women partners as they are good at working within a framework. “Not only for Naturals, but for any franchise business, women are more suited because they work systematically, are not greedy, and are very detail-oriented,” he says.


    Now they are looking for more women entrepreneurs to partner with. “By the end of 2020, we want to enable 1,000 women to be successful entrepreneurs, open 3,000 salons, and create 50,000 jobs,” says Veena Kumaravel.  


    Who can apply?


    Naturals is looking for women entrepreneurs across the following cities - Mumbai, Pune, Kolkata, Delhi, Ahmedabad, Baroda, Rajkot, Surat, Jaipur, Udaipur, Noida, Gurgaon, Lucknow – to lead their franchises. They can be women above 25 years of age, looking at career and entrepreneurship options post maternity break, independent women, homemakers, doctors, or even professionals. It takes an initial investment of around Rs 40-50 lakh, and you will start seeing ROI between 20 to 30 months.


    According to Kumaravel, they are looking for women with the following qualities: absolute integrity, willingness to be owners/managers, ability to lead a team, good customer management skills, the ability to invest money and finally (and surprisingly) no knowledge of the beauty industry.


    Franchise partners speak


    Uma, an MBA graduate worked with Satyam Computer Services for a few years, until she got married. She was always passionate about the beauty industry, and Naturals was the first brand that came to mind. She worked in Naturals Salon for a couple of months to gain experience, and moved on to start 3 franchises in a short span of time. "Naturals has given me an identity and enabled me to be a completely independent woman," she says. Another franchise owner from Trivandrum, Priya Harikumar, says that it was the best decision she's taken. "The brand provides a platform for women to grow. There's a sense of achievement as you provide employment opportunities." Mahalakshmi, who worked as a headmistress for eight years before leading a Naturals franchise, adds that it's given her a sense of responsibility.


    Naturals Salon


    These women are learning all about leadership, and how to treat customers. Ragini started her entrepreneurial journey in 2011 with one franchise and has now successfully expanded to eight branches in Telangana and Andhra Pradesh. She says, “I'm proud to be associated with Naturals, which empowered me and many other women with employment opportunities. Preethi worked in Naturals as a makeup artist, and now owns a franchise. "I can say with the utmost confidence that no other brand could have changed my life this way," she says. Sowmya adds, "More than me trusting Naturals, Naturals placed immense trust on my capabilities and today I am a proud owner of 3 Naturals Salons." Another partner Lopa, who runs 7 salons in Orissa says, "In the last 7 years, I have grown with the Naturals family. The support and love I received from Kumaravel and Veena, I've passed on in my workplace. There's truly an everlasting beauty to this partnership.”


    Also watch: CK Kumaravel, Co-founder, Naturals, in conversation with YourStory Founder and CEO Shradha Sharma.


    The benefits for a franchise partner

     

    Apart from being associated with an established brand name and gaining immense business knowledge, women entrepreneurs will benefit since Naturals has the support of leading stakeholders in the beauty industry and has also tied up with State Bank for a collateral free loan of Rs 30 lakh. Moreover, this line of franchise business is highly suitable for a small entrepreneur and doesn't face the threat of established ecommerce giants taking over this space.

     

    Naturals has a facility to train 350 people at a time. So, franchise partners can have skilled individuals working for them once they start managing their salon. "They only need to invest time and money, in this order, and I have no doubt they will succeed in this high-margin business," Kumaravel says, adding that if we let women turn their dreams into reality, we're letting them live life on their own terms, and in turn creating a beautiful India. "The best fashion statement you can make is standing on your own legs."


    Click here to apply and lead one of Naturals Salon franchises.
    'What a time to be alive': Stunning images from Elon Musk's Starlink satellite launch flood Twitter

    'What a time to be alive': Stunning images from Elon Musk's Starlink satellite launch flood Twitter


    The race to space domination begins! On Thursday, Elon Musk’s ambitious Starlink project took off with the successful launch of the first 60 internet satellites into low-Earth orbit. These five-dozen satellites, meant to beam high-speed broadband...

    The race to space domination begins!


    On Thursday, Elon Musk’s ambitious Starlink project took off with the successful launch of the first 60 internet satellites into low-Earth orbit. These five-dozen satellites, meant to beam high-speed broadband connectivity across the world from space, were loaded inside the Falcon 9 rocket, which blasted off at 10:30 pm EST (around 8.00 am IST) Cape Canaveral Air Force Station in Florida.


    An image of the Falcon 9 liftoff

    Also read: 'Is this real?' Elon Musk unveils 60 ready-to-launch internet satellites and Twitter is blown away


    The launch, unsurprisingly, made for a spectacular vision with the Falcon 9 piercing through the coast of Florida, leaving behind a bright trail. And the tech billionaire and his aerospace company, SpaceX, took to Twitter to live post every update from the launch.


    Main engine cutoff and stage separation confirmed. Second stage engine burn underway pic.twitter.com/trGBZyJGD1

    — SpaceX (@SpaceX) May 24, 2019

    Starlink's flat-panel design allows for a dense launch stack to take full advantage of Falcon 9’s launch capabilities pic.twitter.com/ntnJInEfno

    — SpaceX (@SpaceX) May 24, 2019


    Falcon 9's first stage has landed on the Of Course I Still Love You droneship – the third launch and landing of a booster that’s flown for a third time! pic.twitter.com/CzEDao3tFa

    — SpaceX (@SpaceX) May 24, 2019

    Successful deployment of 60 Starlink satellites confirmed! pic.twitter.com/eYrLocCiws

    — SpaceX (@SpaceX) May 24, 2019

    As the images from the landmark launch started pouring in, loyal followers of the SpaceX boss took to Twitter to share their thoughts.


    What a time to be alive. Congrats!

    — Cristiano Giardina (@CrisGiardina) May 24, 2019

    After the liftoff, the first batch of Starlink satellites – a part of the eventual 12,000 strong mega constellation of internet satellites – gradually drifted away from the rocket to follow their orbit around the earth. As for the Falcon 9 booster, it successfully landed back on the Of Course I Still Love You drone ship, positioned in the Atlantic Oceans.


    Thursday’s launch marked the “third launch and landing of a booster that’s flown for a third time!”


    With this, Musk’s SpaceX certainly takes the lead when it comes to the competition between numerous other spacetech companies vying for a spot in the satellite broadband market. The tech billionaire, however, has grander plans post the success of his Starlink initiative. Sharing a sneak peek into his plans, Much earlier had hinted how his internet project could eventually fund his dream of sending paying customer to Mars.


    "We think this is a key stepping stone on the way towards establishing a self-sustaining city on Mars and a base on the moon," Musk was quoted.       


    But before that Musk has a bigger task at hand. For the successful deployment of all 12,000 satellites into the space, it will take time, but until then we can marvel at the stunning images of the first Starlink take-off.

    Also read: Inspired by Elon Musk and Jeff Bezos, India’s startup space sector is set for lift-off


    Bayer G4A is inviting healthcare startups to partner with them and 'Change the Experience of Health'

    Bayer G4A is inviting healthcare startups to partner with them and 'Change the Experience of Health'


    Do you have a healthcare solution that can improve doctor-patient engagement? Or a technology than can transform women’s health issues? If the answer is yes, Bayer G4A 2019 Partnerships is the perfect platform to accelerate your digital health...

    Do you have a healthcare solution that can improve doctor-patient engagement? Or a technology than can transform women’s health issues? If the answer is yes, Bayer G4A 2019 Partnerships is the perfect platform to accelerate your digital health innovation, and give it the recognition it deserves.


    The right track to co-create innovative healthcare solutions


    Since 2013, Bayer G4A (formerly Bayer Grants4Apps) has supported over 150 digital health companies, resulting in 30 direct collaborations with companies like Turbine and Xbird. G4A's mission is to collaborate with entrepreneurs and innovators in the digital health space, and drive change through commercial partnerships. G4A now operates in more than 13 countries, developing and promoting collaborative healthcare projects with both early-stage and late-stage digital health startups, helping them scale globally.


    The G4A Growth and Advance Tracks offer a gateway to partner with Bayer and solve healthcare challenges in the world.


    Growth Track: This track is designed for companies in the pre-product launch stage. If you are a seed-stage startup with a minimum viable product that’s validated through acquisition of patents and in publication, you can apply. (Having a stellar team is an added advantage!)


    Advance Track: This track is for mature company in the healthcare space with a product in the market and ready to partner with Bayer. These companies will be working with Bayer experts to drive a commercial partnership co-funded by G4A.


    Focus areas for partnership


    You can have a solution in up to 3 of the following areas:


    CardiovascularDermatologyDigital TherapeuticsGlobal HealthNeurotechOncologyOphthalmologyPulmonologyRadiologyVoice TechWoman's HealthOther


    Reasons why you should apply


    Financial support: EUR 50,000 to 100,000 as one-time payment for Growth Track partners, and, for Advance, additional follow-on payments when jointly defined milestones are achieved.


    World-class workspace: A dedicated office space for four to six digital health startups with innovative technology solutions at the Bayer premises in Berlin.


    Mentorship: Get mentored by external experts and entrepreneurs, and work with global health tech professionals.


    Exclusive networking: Network with key people who can help you grow your business and open doors for new business opportunities or segments. This is an ideal collaborative environment to advance cutting-edge technologies in healthcare.


    Bayer experts: Get coached by experienced senior Bayer Pharma managers and executives. This is a unique opportunity to be connected with a 150-year-old life sciences company and gain from invaluable expertise.


    Regional engagement: Once you are selected, you become a G4A partner and join the G4A alumni family for life. This means being a part of hundreds of like-minded individuals who constantly change the experience of health.



    Application timeline for 2019


    1. Applications close on May 31


    Participants have to complete the submission of the form and upload a pitch deck before May 31, 2019 11:59 PM GMT.


    2.  Selection - June to July


    Experts from the G4A team and Bayer team will review and select the finalists.


    3. Workshops - August


    The selected finalists will be notified to join workshops with Bayer. This will determine if there is a mutual fit between both parties.


    4. Kick-off- Early October


    Finalists will be invited to Signing Day in Berlin


    Click here for more details and to apply.


    Facebook removes a record 2.2 billion fake accounts in major crackdown on spammers and hate speech

    Facebook removes a record 2.2 billion fake accounts in major crackdown on spammers and hate speech


    On Thursday night, Facebook released its Community Standards Enforcement Report for the first quarter of 2019. The social networking giant claims it has removed 2.2 billion fake accounts during this period in a serious crackdown on "bad actors". These...

    On Thursday night, Facebook released its Community Standards Enforcement Report for the first quarter of 2019. The social networking giant claims it has removed 2.2 billion fake accounts during this period in a serious crackdown on "bad actors".


    These are startling figures because Facebook's total monthly active user base is 2.38 billion. So, the 2.2 billion accounts removed also include the ones the platform detects at the time of user sign-ups.


    In last quarter of 2018, Facebook had removed 1.2 billion fakes. It implies that fake accounts on the platform doubled in just three months. “The larger quantities of fake accounts are driven by spammers who are constantly trying to evade our systems,” Guy Rosen, Facebook’s VP of Integrity, explained.


    Facebook also revealed that it has pulled down over 1.5 million posts promoting drugs or the sale of firearms on its platform.


    It intends to further strengthen its reporting mechanisms and extend the detection of illegal activities to other categories. The percentage of cases where Facebook removed hate speech even before users reported it, also went up.


    Facebook CEO Mark Zuckerberg

    In an official statement, Facebook wrote,


    "We want to protect and respect both expression and personal safety on Facebook. Our goal is to create a safe and welcoming community for more than 2 billion people who use Facebook around the world, across cultures and perspectives."


    Also Read: Facebook removing a million accounts in India every day to combat fake news ahead of elections


    CEO Mark Zuckerberg had earlier said that the platform was steadily increasing its spends on new policing mechanisms to curb hate speech.


    He said,


    "The amount of capital that we are able to invest in all of the safety systems that go into what we are talking about today -- our budget in 2019 is greater than the whole revenue of our company in the year before we went public in 2012."


    Even though Facebook's AI algorithms can detect almost 99 percent of graphic or violent content on the platform, they aren't entirely fool-proof, especially when it comes to lives. This was on display earlier in March, when horrifying terror attacks in Christchurch, New Zealand were broadcast live on Facebook.


    Amid severe backlash that followed, Facebook removed 1.5 million videos of the attacks globally, of which over 1.2 million were blocked at the upload stage. Earlier this month, it joined other big tech corporations - Amazon, Google, Microsoft, and Twitter - to sign the Christchurch Call to Action that pledges to fight against extremist content online.


    Also Read: Facebook India will now report to Mark Zuckerberg's core team in Menlo Park

    Artistic sensibility can be a part of your work even if you are not an artist: Subarna Patro, NGMA Curator

    Artistic sensibility can be a part of your work even if you are not an artist: Subarna Patro, NGMA Curator


    PhotoSparks is a weekly feature from YourStory, with photographs that celebrate the spirit of creativity and innovation. In the earlier 340 posts, we featured an art festival, cartoon gallery. world music festival, telecom expo, millets...

    PhotoSparks is a weekly feature from YourStory, with photographs that celebrate the spirit of creativity and innovation. In the earlier 340 posts, we featured an art festival, cartoon gallery. world music festivaltelecom expomillets fair, climate change expo, wildlife conference, startup festival, Diwali rangoli, and jazz festival.


    India’s National Gallery of Modern Art (NGMA) is celebrating its 65th anniversary this year. In Part II of our photo essay on the celebratory exhibition, fittingly titled Itihaas (history), we showcase more works that represent the rise of modern art in India (see Part I of the photo essay here).


    The Itihaas exhibition was conceptualised by NGMA DG Adwaita Gadanayak. Along with its regular exhibits, NGMA Bengaluru is showcasing over 100 sculptures along with paintings and drawings. This show will wrap up at the end of July; see also our coverage of earlier shows featuring Dhanraj Bhagat and Balan Nambiar.


    The current exhibition showcases the works of artists such as Ramkinkar Baij (plaster and bronze), Sankho Choudhuri (marble), Kewal Soni (bronze), DP Roy Chowdhury (‘huddled labourer’), Chintamoni Kar (elliptical wood sculptures), Sarbari Roy Choudhuri (bronze), Fredda Brilliant (works on Nehru and Gandhi), and Amarnath Sehgal (bronze).


    Other artists are Pilloo Pochkhanawala (lead), Uma Siddhanta (bronze), PA Mangudkar (marble), Prodosh Dasgupta (bronze), and Shirin Lal Virjee (bronze bust of actress Win Min Than). There are also linocuts on display, by Sudhi Khastgir.


    Some of the artworks in the original exhibition at NGMA Delhi in 2017 were too large and heavy to be brought to Bengaluru, says Subarna Patro, Curator of NGMA Bengaluru, in a chat with YourStory. He has no particular favourite in the collection – all works are his favourite, he jokes.


    The gallery attracts over 200 visitors a day on some occasions, according to Subarna. NGMA Delhi has over 18,000 works in its collection, with around 2,000 at NGMA Mumbai and 500 in NGMA Bengaluru. NGMA chose Bengaluru as one of its hubs due to its central location in South India, he explains.


    Many sculptors today are also taking up painting, he observes; it takes up less space and can involve less time and cost. “Art is a respectable profession in its own right, but even if you are not an artist you can bring out artistic sensibilities in all your work,” he advises.


    Now, what have you done today to pause in your busy schedule and see how to bring even more creativity into your life and work?


    Got a creative photograph to share? Email us at PhotoSparks@YourStory.com!


    See also the YourStory pocketbook ‘Proverbs and Quotes for Entrepreneurs: A World of Inspiration for Startups,’ accessible as apps for Apple and Android devices.


    Also read: Support traditional and folk arts, don’t just learn about them: Sankalita Das, Secure Giving

    [PODCAST] BrowserStack’s Ritesh Arora on thinking global and scaling up

    [PODCAST] BrowserStack’s Ritesh Arora on thinking global and scaling up


    We continue with the #InsightsPodcast series, and this time, we have Ritesh Arora, Co-Founder and CEO of BrowserStack, a mobile and web testing platform. In this episode, Ritesh recollects his journey from a young engineer to how he pivoted through a few...

    We continue with the #InsightsPodcast series, and this time, we have Ritesh Arora, Co-Founder and CEO of BrowserStack, a mobile and web testing platform. In this episode, Ritesh recollects his journey from a young engineer to how he pivoted through a few startup ideas before landing on BrowserStack.


    He talks about scaling up - how he bootstrapped his startup to more than $20 million in revenue - a humongous achievement for any founder. 


    Ritesh comes from a family of business-people and always had an eye on venturing on the entrepreneurial journey. Teaming up with his roommate Nakul from IIT Bombay, he started his first startup in the final year of college: building a product for sentiment analysis in 2005, which led him to work on machine learning and natural language processing way before AI/ML became fashionable.


    He says, “I probably read almost every research paper published on the topic at that time - about 76 of them. Went through them multiple times and came up with our own algorithm.”


    Also read: From IIT-Delhi to building Flipkart, how Binny Bansal became the poster boy of the Indian startup ecosystem and what he's up to now


    Unable to come up with a go-to-market for the product, the duo decided to take up jobs. But the desire to build something consumer-facing soon got them started on their second venture - this time, in the space of information aggregation on the internet. While they were even able to gain traction, monetisation and identifying the right business model proved to be a challenge.


    Ritesh and Nakul spent a year brainstorming before stumbling on the problem that BrowserStack solves today. ‘Testing website on internet browsers’ was a challenge for thousands of developers globally - something that they had experienced themselves.


    The two set out to simplify this by helping developers test and debug their websites on different browsers (mainly Internet Explorer at the time). The traction they received was explosive, starting with 10K beta users in three weeks (thanks to John Resig’s tweet).


    Soon, the duo moving to a paid offering that grew to $20K monthly revenue in about 4-5 months and $1 million annual recurring revenue at the end of the first year. This was all when they were just a team of two, working out of a coffee shop in Mumbai.


    Their focus on the global market from the beginning helped Ritesh and Nakul scale to annual recurring revenue of $20 million in a span of four years with just a team of 50. They realised they needed to scale up to be able to sustain the growth and decided to get advisors on board, who could help mentor the team in the right direction.


    Raising funds for BrowserStack was more about finding the right partner than about raising money. Ritesh speaks about the value that a good investor brings on board especially in the scaling phase because the founder is always doing it for the first time, while VCs have helped many such companies scale.


    Ritesh also shares learnings for younger entrepreneurs, emphasising on focussing towards solving large problems, getting feedback from customers, not solving for monetising in early days, and building a great product that makes the customer’s journey frictionless. “When your customers use your product, they should feel that it has changed their lives,” he says.



    Also read: Cred Founder Kunal Shah shares anecdotes from his entrepreneurial journey

    [Funding alert] SucSEED Venture Partners invests in learning activity platform XploraBox

    [Funding alert] SucSEED Venture Partners invests in learning activity platform XploraBox


    New Delhi-based Imagismart Solutions, which runs an educational subscription activity box company for children under the brand name Xplorabox, has raised angel funding from SucSEED Venture Partners. The round also saw participation from Green Shoots...

    New Delhi-based Imagismart Solutions, which runs an educational subscription activity box company for children under the brand name Xplorabox, has raised angel funding from SucSEED Venture Partners.


    The round also saw participation from Green Shoots Capital, Metaform Ventures LLC, JITO Angel Network, and SWAN Angel Network among others.


    The startup plans to utilise the raised funding to scale up rapidly, and establish overseas presence beginning with North America and Gulf Cooperation Council (GCC) countries.


    Last year, Xplorabox had raised seed round from Z Nation Lab, US-based Metaform Ventures, and others.


    Also Read: Edtech startups in India: a ray of hope for transforming the learning experience


    Founded in August 2015 by husband-wife duo Rishi and Shweta Das, along with two other co-founders Dhirendra Meena and Rishabh Gupta, Xplorabox is designed to engage children in activity-based learning programmes. It focuses mainly on children aged between two and twelve years, and aims to promote ‘Learning Through Fun’ with its products.


    Xplorabox, which has served more than 50,000 customers, is dispatching kits to over 500 cities every month. The startup is also working on new products and is targeting to launch them in the next 9-12 months.


    Speaking on its investment in XploraBox, Vikrant Varshney, Co-Founder and Managing Partner of SucSEED Venture Partners, said,


    “India's accelerated development needs rising middle class and minds, which are trained for fast-changing future. Xplorabox fills this future need of India's young minds by providing physical activity-based learning tools.”


    Other startups which provide activity-based learning kits to children are Flinto, Podsquad, Genius Box, Einstein Box, SP Robotics Work, Magic Crate etc.


    In 2018, Chennai-based Flinto secured Rs 6 crore in debt funding led by InnoVen Capital, and Bengaluru-based Magic Crate closed its third round led by FireSide Ventures.

    In December 2017, Flinto also received $7 million in Series A funding led by Lightbox.


    Also Read: How Polish edtech startup Brainly notched up 15 million users in India in 2 years

    Amazon says its next device will be able to read human emotions

    Amazon says its next device will be able to read human emotions


    The inability to read and understand human emotion has been the biggest drawback of any high performing machine till date. But this might just change.Amazon is developing a voice-activated wrist-worn gadget that can recognise human emotions, Bloomberg...

    The inability to read and understand human emotion has been the biggest drawback of any high performing machine till date. But this might just change.


    Amazon is developing a voice-activated wrist-worn gadget that can recognise human emotions, Bloomberg reported on Thursday. Bloomberg reviewed internal documents related to the gadget, and said it is described as a health and wellness product.


    Bloomberg also spoke to a person familiar with the programme, who said the wearable device will work with a smartphone app which has microphones paired with software. The device will find out a person’s emotional state just from the sound of the wearer’s voice.


    The technology could eventually be able to give advice to the wearer on how to better their interaction with other people. It is yet unclear if the device will be commercialised at all.


    A beta test is reportedly underway, but it is unclear whether it is the hardware or software or both that will detect emotions. Amazon is working on the development of the device with Lab126, a research and development, and computer hardware company owned by Amazon. Lab126 has worked on Amazon’s other products like Kindle, Fire phone and Echo smart speaker, as also with the Alexa voice software team.


    Two years ago, Amazon had detailed a similar system that makes use of people’s vocal patterns to derive their emotional state and make suitable suggestions. This wearable device is said to use that technology.


    The device and its technology is likely to spark debates about the additional amount of personal data it can generate and how it will be stored as emotional derivations can be used to benefit the company’s marketing strategies.


    Other tech giants like Microsoft, Google and IBM are also developing technologies that can derive the emotional state of humans.



    Modi sweeps India in historic win; Paytm Payments Bank turns profitable

    Modi sweeps India in historic win; Paytm Payments Bank turns profitable


    In what was the largest democratic election process in history, Prime Minister Narendra Modi led the National Democratic Alliance (NDA) to a historic victory in the 2019 General Elections, winning over 349 seats out of 542 by 10 pm IST. As counting of...

    In what was the largest democratic election process in history, Prime Minister Narendra Modi led the National Democratic Alliance (NDA) to a historic victory in the 2019 General Elections, winning over 349 seats out of 542 by 10 pm IST. 


    As counting of votes began, the benchmark BSE Sensex rallied nearly 800 points and the NSE Nifty soared over 200 points to hit their record highs in early trade. Amid market euphoria, the rupee also appreciated 26 paise to 69.40 against the US dollar in opening trade. 


    YourStory takes a look at what India Inc and the country's startup community is expecting from the new government and what the investor sentiment is with BJP set for a second term.



    What does the startup community expect in the next five years?


    As the 17th Lok Sabha is formed, so will the fate of the country for the next five years. In the last five years, our startup ecosystem has seen several highs and lows. Last year alone, we added eight unicorns. And in 2019, we already have three new members in the unicorn club. In fact, as of last year, India also moved up 23 ranks in ease of doing business. But, stakeholders believe we can do more.



    Modi 2.0 provides booster shot for Startup India, Digital India


    Political stability in India - much needed for businesses - has begun with the NDA storming back to power. And this means good tidings for the Startup India mission. PM Modi can now comfortably finish his unfinished agenda, which he had started in the previous term. There are hopes that Startup India would get a big boost, and entrepreneurs would sprout across the country to create much-needed employment.



    First-time voters have great expectations; need clean, fair governance


    By 2020, India is poised to become the world's youngest country with an average age of 29 years. As a matter of fact, nearly 15 million Indians are said to have voted for the first time in this election. And major political parties have been bending over backwards to woo this new generation. And guess what? GenZ voters have a long list of expectations from the newly-elected government.



    India Inc and the startup ecosystem react to Modi 2.0


    The Bharatiya Janata Party (BJP)-led National Democratic Alliance (NDA) recorded a historic win as India wrapped up the largest democratic election process. Almost 600 million voted in the 2019 General Elections - roughly three times the population of Brazil - out of a total of 900 million eligible voters. We take a look at the reactions from the startup and entrepreneur community.



    Paytm Payments Bank posts Rs 19 Cr profit for FY19


    Paytm Payments Bank Limited (PPB) completed only its second year of operations and is already profitable. In a statement, the company announced that it recorded a profit of Rs 19 Crore for the financial year 2018-2019. It also said it captures 19 percent market share in terms of mobile banking transactions as of March 2019. Paytm Payments Bank also has a market share of 32 percent for UPI transactions.



    Tiger Global invests $5M in video content startup The Viral Fever


    Mumbai-based Contagious Online Media, which owns and operates original video content startup The Viral Fever (TVF), has raised $5 million (Rs 34.6 crore) from Tiger Global Management, through its Internet Fund III. The New York-based investment firm had previously infused $6 million in the startup last June, and $10 million in February 2016.



    Nexus Venture Partners makes another close for its fifth fund


    India and US-focussed Nexus Venture Partners, which invests $500,000 to $10 million in early growth stage companies, made another close of $353.5 million for its fifth VC fund. The firm needs $96.5 million more to achieve its total target of $450 million for the fund. 



    India leads the world in mobile app installs in 2019


    For the first time, India installed more mobile apps than any other country. Latest data from Sensor Tower reveals that India installed 4.5 billion apps in the first quarter of 2019, also witnessing the most number of new installs on Google Play Store worldwide. Current internet sensation ByteDance's TikTok was the most-downloaded app in the country. 


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