🇮🇳 Ricky Kej’s tribute to Indian National Anthem

The most interesting news selected specially for you! 15 August 2024 [View in Browser]( Hello, A blockbuster debut follows a lacklustre result. In its first quarterly results after getting listed on Indian bourses, [Ola Electric]( reported a wider net loss of Rs 347 crore, bogged down by higher costs. The electric scooter maker reported a 32% annual rise in its quarterly revenue to Rs 1,644 crore in Q1 FY25, buoyed by a rise in demand for its two-wheelers. On the other hand, hospitality unicorn [OYO]( reported its first-ever profit after tax of about Rs 229 crore in FY24, while its consolidated revenue from operations remained stable at about Rs 5,388 crore. And trouble brews for [BYJU’S]( as the Supreme Court put the insolvency proceedings against the beleaguered edtech company back on the table, reversing the NCLAT's earlier verdict that had set them aside. Meanwhile, check out this rotating [VR gaming chair]( built by London-based Roto VR. [ICYMI:]( Mark Zuckerberg’s Roman empire. It’s not Meta or AI, but his wife! Some men buy diamonds, others build statues! Lastly, we wish you a Happy 78th Independence Day! Did you know that South Korea, North Korea, and Congo, among other countries share their Independence Day with India? In today’s newsletter, we will talk about - Tête-à-tête with Ricky Kej - Ofbusiness’ public outing plans - Convenience shopping for rural India Here’s your trivia for today: When was India’s first unofficial flag hoisted? --------------------------------------------------------------- Interview Tête-à-tête with Ricky Kej Grammy winner Ricky Kej has released an epic rendition of the Indian National Anthem. The endeavour has also set a Guinness World Record for being the largest-ever orchestra to perform the Indian National Anthem–a 14,000-member choir featuring children from tribal communities. In a chat with YS Life, Kej talks about his accomplishments, his creative process, and, of course, the elephant in the room—artificial intelligence and the fear of AI replacing people in creative fields. Timeless: - The new rendition features prominent musicians Pandit Hariprasad Chaurasia, Rakesh Chaurasia, Rahul Sharma, Sheik Mahaboob Subhani, Kaleeshabi Mehaboob, Jayanthi Kumaresh, Giridhar Udupa, Amaan Ali Bangash, and Ayaan Ali Bangash. - On his creative process, Kej says he uses technology to create an outline. “These days with the computer, you get amazing sounds which are extremely authentic—I cannot make out the difference between a real instrumental and a synthetic instrument,” he adds. - According to the musician, AI will probably be the end of “boring and generic” music composers, but creative artists will find work. [Read More]( --------------------------------------------------------------- Funding Alert 1) Syfe: $27M|Equity 2) Six Sense Mobility: Rs 6 Cr|Seed --------------------------------------------------------------- Fintech Ofbusiness’ IPO plans marketplace for construction Ofbusiness is in the early stages of planning its initial public offering (IPO), people aware of the discussions told YourStory. The startup has initiated conversations with investment bankers as the SoftBank-backed firm targets a public listing by August next year. Key takeaways: - The company has held exploratory talks with at least five investment banks including Kotak Investment Banking for its IPO, the sources said. - OfBusiness is one of India’s most profitable unicorns and has made a net profit for the previous five fiscal years. - It counts Falcon Edge (Alpha Wave Global), Tiger Global, and Norwest Venture Partners among others as its backers. [Read More]( --------------------------------------------------------------- Startup Convenience shopping for rural India Frendy wears many hats: it is a convenience store manager, grocery retailer, and dark store operator. It also makes private labels of daily essentials. However, unlike other players in the ecommerce industry, Frendy wants to bring convenience shopping to rural regions. Playbook: - Frendy operates nearly 25 mini-marts—neighbourhood convenience stores—in towns like Chaala, Kalavad, Gondal, and Chithroda among others in Gujarat. - Along with being a retail store, these mini-marts also act as dark stores for the company’s B2B operations where they supply to micro kirana stores in a radius of 10-30 km. - More than 2,000 of these micro kiranas are digitally connected to Frendy, which allows them to buy the assortment that they would ideally store. [Read More]( --------------------------------------------------------------- Application open for Tech30 you a visionary founder at the helm of a startup poised to redefine industries? Look no further than Tech30, the ultimate platform to showcase your innovation. Tech30 is more than just a recognition; it's a catalyst for the future. We're on a mission to bring together India's brightest tech minds to unravel the next big thing. If you're building groundbreaking solutions that have the potential to reshape our world, Tech30 is your launchpad. Join us as we celebrate the pioneers driving India's tech revolution. [Apply for Tech 30]( --------------------------------------------------------------- From the CapTable Ajit Mohan on Snap’s India journey, being the underdog, and building in India for the world From his swanky office on the 16th floor of the Marina Bay Financial Centre in Singapore, Ajit Mohan, the Asia-Pacific head of social media platform Snap, pulls the strings for his third big Indian adventure.A high-flying consultant with marquee firms in both the US and Singapore for the first 15 years of his career, Mohan shot to prominence when he returned to India. Since then, across stints at Meta and Star TV, he has displayed an incredible knack for spotting future opportunities. At Hotstar, it was about identifying how cheap access to mobile broadband would revolutionise content consumption well before the launch of Jio. At Meta, he pushed for Instagram’s short video feature Reels, which had only been released in three other countries at the time, to be rolled out in India after TikTok was banned by the government. “If I look at my career, one thing that stands out is that there have been windows that opened up to build a new product and fundamentally change the trajectory of the company. A large part of success is identifying when that window of opportunity opens up,” he says in a video call with The CapTable. Can he replicate this success at Snap? Key takeaways: - Across his previous stints at Meta and Star TV, Ajit Mohan displayed an uncanny knack for predicting future opportunities. - Now APAC head for Snap, he faces his biggest challenge yet. Growing not just the platform’s user base but its revenue. - With advertising serving as Snap’s primary revenue stream, especially in India, the platform will have to square off against Google-Meta’s digital advertising duopoly. - Mohan, though, is convinced that Snap has the scale, differentiation, and talent required to make waves in the digital advertising space [Continue Reading]( --------------------------------------------------------------- News & Updates - [New product:]( Elon Musk-owned xAI launched Grok-2 and Grok-2 mini in beta with improved reasoning. The new Grok AI model can now generate images on the X social network, though Grok access is currently limited to Premium and Premium+ users on X. Grok-2 and Grok-2 mini are available to users on X in beta. - [Actions:]( The US Department of Justice is considering options that include breaking up Alphabet's Google, a week after a US judge ruled the tech giant illegally monopolised the online search market. The ruling is seen as the first big win for federal authorities taking on the market dominance of Big Tech. - [M&A:]( Mars has agreed to buy Kellanova in a deal that values the maker of Cheez-It and Pringles at almost $29 billion. The mega-deal will create a global snacks behemoth, adding a bevvy of new nibbles to Mars’ portfolio of brands, including Snickers, M&M’s, and the Mars bar. Here's what else we have for you Experts express cautious enthusiasm for GenAI, say ROI remains work in progress In association with IIM Lucknow Enterprise Incubation Centre Generative AI may be the new fish in the pond, but experts aren’t biting…yet. A round-table discussion held by Google and Couchbase revealed a cautious enthusiasm for discovering new use cases for GenAI capabilities in a variety of different industries. [Know More]( --------------------------------------------------------------- She means business: Meet the women revolutionising India's Gen AI tech landscape In association with AWS Meet Priya Singh of Chalo, Ritwika Chowdhury of Unscript, and Kausambi Manjita of Mason—women entrepreneurs who are reshaping India's tech landscape. From revolutionising public transport to pioneering AI-driven customer engagement, these leaders are at the forefront of innovation. Dive into their journeys and insights in the latest edition of HerStory's AWS Women in Tech Series. [Know More]( --------------------------------------------------------------- Navigating India's cyber threat landscape with Zscaler In association with Zscaler “The average cost of a cyber incident for a small to mid-sized company is about $200,000,” says Dhawal Sharma, SVP & GM of Product Management at Zscaler, highlighting the financial stakes involved in a cyber attack. With over 60% of these companies potentially going out of business within six months of a cyber incident, the need for effective cybersecurity solutions has never been clearer. Discover how Zscaler’s advanced solutions can help mitigate risks, and why it's crucial to prioritise security in today’s digital landscape. [Know More]( Did you know? When was India’s first unofficial flag hoisted? Answer: August 7, 1906, in the Parsee Bagan Square (Green Park) in Calcutta, now Kolkata. The flag composed of three horizontal strips of red, yellow, and green. We would love to hear from you! To let us know what you liked and disliked about our newsletter, please mail nslfeedback@yourstory.com. If you don’t already get this newsletter in your inbox, [sign up here](. For past editions of the YourStory Buzz, you can check our [Daily Capsule page here](. [Feedback]( [Unsubscribe]( [Newsletters](