In no particular order, here are MediaNama’s top 10 stories of the week ended 17th July 2016
MediaNama would like to thank its sponsors: HP, Citrus, Times Internet and E2E for their support.
– Yatra to list on NASDAQ via reverse merger; valued at $218M
Yatra.com will be listed on NASDAQ and will trade under the name YTRA, following a reverse-merger with a listed company, called “Terrapin 3 Acquisition Corporation”. The transaction is expected to close by October 2016, and both boards have approved the transaction. Read it here.
– YouTube says it has generated $2 billion for copyright owners through Content ID
YouTube, the largest video streaming website, has generated $2 billion for copyright owners by monetizing user-uploaded content through Content ID, the company announced on its blog. This announcement comes in response to the music industry which has been complaining that the website does not pay them enough. Read it here.
– “Believers, not skeptics, build businesses” – Rohit Bansal, Snapdeal
Believers, not skeptics, build businesses. I am yet to meet a successful company or entrepreneur in the world, that has never been written off by some skeptic. Besides all the love from millions of customers and hundreds of thousands of sellers, we have had our share of skeptics along the way since we started the business. Read it here.
– The bar for startup CEOs in much higher now – Anand Lunia
Since 2015, all VCs in India have a fair idea of the good, the bad and ugly among their investments. The bridge rounds should not confuse an onlooker, because those are driven by a different set of compulsions. Read it here.
– Cloudflare CEO Matthew Prince on whether Airtel is sniffing data packets to block websites
Yesterday, Karthik Balakrishnan, a volunteer with SaveTheInternet.in, wrote about how Airtel was possibly checking each and every unencrypted packet of data going to sites connected with popular Content Delivery Network Cloudflare. The analysis published suggested that since Cloudflare was using Airtel for connectivity with host servers, every packet of data between Cloudflare and the host server (in this case for the PirateBay) was being checked by Airtel for its destination, and if it were in violation of government orders, it was being blocked. Read it here.
– redBus acquires majority stake in South American bus ticketing company
Ibibo-owned redBus has acquired a stake a majority stake in Peru-based bus ticketing platform Busportal.pe for an undisclosed amount and foraying into the South American market in countries such as Peru, Chile and Colombia. Earlier this year, redDus hadstarted international operations in Singapore and Malaysia. Read it here.
– Infibeam will expand logistics, setup data centers to focus on its seller services
Infibeam will setup new warehouses and data centers as well as an online advertising platform for merchants, the company said during its maiden earnings conference call, post listing.
There aren’t any other ecommerce companies listed in India, and “the common understanding is to compare the company with other marketplaces”, Vishal Mehta, founder of Infibeam said. Read it here.
– Implications of the US-India Cyber Relationship Framework
On 7 June 2016, ongoing discussions between Prime Minister Narendra Modi and President Barack Obama culminated in the US-India Cyber Relationship Framework, expected to be signed within 60 days. As part of a deepening strategic partnershipbetween the US and India, the Framework establishes a bilateral commitment to an open, interoperable, secure and reliable cyberspace environment, and bilateral measures to combat cybercrime. Read it here.
– As Ibibo’s flight booking business becomes profitable, focus shifts to hotels
Across its travel businesses, ibibo reported revenues of $91 million for the year ended 31st March 2016, with its airline business becoming profitable, its parent company Naspers said while announcing its annual results. The company said that the revenues are “67% higher in local currency, adjusted for acquisitions and disposals”. Read it here.
– BookMyShow reports 30% YoY growth in revenues in Q1FY17
Online ticketing platform BookMyShow has reported revenues of Rs 78 crore for the quarter ended June 30 (Q1 FY17), up 30% y-o-y from Rs 60 crore in the same quarter last year. The company said that it sold over 30 million tickets in Q1 FY17 compared to 22 million in the same quarter last year, registering a growth of 38%. Read it here.