Kalaari, Nexus prove stumbling blocks in Softbank’s bid to exit Snapdeal

The plot only gets thicker from here, as even after multiple rounds of talks, Softbank has not been able to convince the early-stage investors in Gurgaon-based Snapdeal for a sale which would help the Japanese major exit from the company.

According to four sources privy to the developments, while early-stage investors in Snapdeal – Kalaari Capital and Nexus Venture Partners – are confident of the company’s present business plan and want it to go for an initial public offering (IPO) in the next two years, Softbank wants to immediately sell its stake and hedge its bets in other e-commerce ventures, something which has caused a major rift between the two parties.

Read this :Tiger Global sinks teeth into Flipkart, Snapdeal merger

Also, according to sources, while Softbank is trying to sell its stake in Snapdeal, where it is the biggest shareholder and has invested close to a billion dollars, it has also assured the e-commerce company of giving close to $200 million so that it can go ahead with its business plans and head for an IPO.

“There are two different things Softbank is doing. On one hand it is telling Snapdeal that it has confidence in the founders and their plans, on the other hand it is looking for a quick exit. We have to see what finally happens,” said a person close to the developments(read more).\

Snapdeal

Early-stage investors said to be ‘livid’ over valuation at which SoftBank wants to exit Snapdeal

Akshay Kumar unveils first poster of ‘Toilet: Ek Prem Katha’

Akshay Kumar has revealed the first glimpse of his upcoming film “Toilet: Ek Prem Katha”.

The 49-year-old actor took to Twitter to share the poster, which also features his co-star Bhumi Pednekar.

“Pleased to share, @ToiletTheFilm an unusual love story will be with you on 11th Aug, 2017,” Akshay tweeted.

Also read:Naam Shabana review: Taapsee Pannu steals the show in a middling movie

The film, which is based on the Swachch Bharat Abhiyaan initiated by Prime Minister Narendra Modi, will release in the Independence Day week.

Akshay added, “Tayyar ho jayye Swachch Azaadi ke liye! (Brace yourselves for a clean freedom)”

The poster shows Akshay and Bhumi dressed in traditional marriage attire in an interesting way triggering a debate on cleanliness and our rights.

Directed by Shree Narayan Singh, the film will clash with Imtiaz Ali’s Shah Rukh Khan-Anushka Sharma starrer on August 11.

It was earlier supposed to release on June 2(read more)

Amazon mobile carnival: Great deals on iPhones, OnePlus 3T & other mobiles

The 2 day long mobile carnival started on 29 March and is expiring on 30 March, 2017

Amazon India is running a two day long mobile carnival that started on 29 March and is expiring on 30 March, 2017. In the mobile carnival, the e-commerce giant is offering deals, discounts, cashback and exchange offers on smartphones. The Amazon exclusive smartphones like OnePlus 3T, Xiaomi Redmi 4A, Coolpad Cool 1, Huawei Honor 6X etc. are also eligible in the mobile carnival.Let’s look at the major deals currently running inAmazon Mobile Carnival

iPhone 7 and iPhone 7 Plus

The latest from the stable of iPhone – the iPhone 7 and iPhone 7 Plus – are retailing at a discount of Rs 10,000. The iPhone 7 base model with 32 GB storage and premium model with 128 GB storage is currently available at Rs 49,999 and 59,979, respectively. The elder sibling, iPhone 7 Plus premium model with 128 GB storage is available at Rs 71,899, down from Rs 82,000.

ALSO READ:Amazon Prime watch out! In India push, Netflix is going everywhere

Oneplus 3T is one of the hottest selling smartphones on Amazon India. In Amazon mobile carnival, the online retailer is offering cashback of up to Rs 1,250 in the form of Amazon Pay balance. The cashback can be availed by purchasing the device using Credit Card EMI option. Also, there is Rs 500 Kindle ebook promotion credits available for all the buyers. The buyers are also eligible to get Rs 100 discount on Oneplus 3T Karbon or Sandstone case if they purchase the OnePlus 3T device through Rocket Kommerce LLP retailer on Amazon India. For Amazon Prime users, there is an additional cash scheme running that offers Rs 250 Amazon Pay balance if the user streams the Prime video using Amazon Prime Video app on the OnePlus 3T. Amazon is additionally running a contest, where a buyer stands a chance to win Rs 1 crore, and you can read full details of the contest here(read more).

Tigor launched at Rs 4.7 lakh: Tata eyes a seat in Swift Dzire’s market

Tigor

It comes in four variants in the price range of Rs 4.7 lakh to Rs 6.19 lakh

Upping the ante in the crowded compact sedan category, Tata Motors on Wednesday launched Tata Tigor , its third product in the tax-efficient sub-four metre sedan segment.

The biggest selling point for Tigor is its aggressive pricing. At Rs 4.7 lakh for the base petrol variant, Tigor is now the cheapest compact sedan in the country and even undercuts Tata’s existing models. For example, the largest-selling car in the segment – Swift Dzire – starts at Rs 5.27 lakh, while the base petrol version of Indigo CS, from the Tata stable, is priced at Rs 5.03 lakh.

Besides Indigo CS, Tata Motors also sells the Zest in the segment, but has not been able to break the dominance of Maruti Suzuki’s Swift Dzire in the category. The compact sedan and hatchback category, accounted for over 40% of car sales in January 2017, at over 114,000 units.

Maruti accounted for 56,000 cars in the category, with Swift Dzire selling over 18,000 units in January 2017.

The Tata Tigor 1.2-litre petrol model comes in four variants in the price range of Rs 4.7 lakh to Rs 6.19 lakh, while the 1.05-litre diesel engine mounted models starts at Rs 5.6 lakh and goes up to Rs 7.09 lakh in Delhi. The Tigor is the second all-new launch by Tata Motors in 2017 after the sports utility vehicle Hexa in January, which, the company claims, has notched over 2,000 retail deliveries. Read more

Also Read : Rally in low RoE stocks – winners and losers

Samsung Note 7 may return as rental phone: Beware of fire!

Samsung says it’s considering bringing the recalled units back to market. The company says it will first consult regulatory authorities and carriers and assess local demand.

It’s not yet known when and which countries such phones would be sold.

Samsung killed the Note 7 phone after dozens overheated and caught on fire. Samsung recalled one set, but found problems with the replacements as well.

The spontaneous fires, many chronicled in videos circulated on YouTube, prompted Samsung to recall millions of phones and take a USD 5.3 billion hit on its earnings.

Samsung conducted extensive tests since then and has blamed multiple design and manufacturing defects in batteries made by two different companies. That means Samsung could replace phones with safer batteries.(read more)

Facebook copies Snapchat again? Co adds detailed camera features

Users can now add rainbows and other graphics to their photos

Facebook Inc is giving the camera a central place on its smartphone app for the first time, encouraging users to take more pictures and edit them with digital stickers that show the influence of rival Snapchat.

Shares of Snapchat owner Snap Inc, which held its initial public offering this month, were down 4.1 percent at $22.85 after Faceook’s announcement.

With an update scheduled to take effect on Tuesday, Facebook will allow users to get to the app’s camera with one swipe of their finger and then add visual details like a rainbow or a beard of glitter.

Users will be able to share a picture privately with a friend, rather than to all of their friends, and add a picture to a gallery known as a “story,” similar to a feature on the Snapchat app.

Snapchat popularized sharing of digitally decorated photographs on social media, especially among teenagers, and exposed a weakness of Facebook as the companies battle for eyeballs and leisure time.

Snap has recently emphasized its ambitions to build gadgets and has called itself a camera company rather than a social media network. Some analysts have warned that Snap is susceptible to competition from Facebook.

Facebook, which with 1.86 billion users is the industry leader, denies it took its camera ideas from Snapchat and says it got them from its own users.

“Our goal here is to give people more to do on Facebook, and that’s really been the main inspiration,” Connor Hayes, a Facebook product manager, said in a briefing with reporters.

In a glimpse of how the features could tie in with other businesses, one of the first camera effects will be the ability to morph someone in a photograph into a yellow, cartoon “Minion.” The latest Minion movie, “Despicable Me 3,” is due out in a few months from Comcast Corp’s NBC Universal.

Facebook has deals to license content from six film studios, as well as from two artists, said design director Kristen Spilman.

Another visual effect allows someone in a picture to “become a laser cat with super powers,” Spilman said.

The effects will vary by location. Spilman said that when Facebook tested the ability to add the phrase “LOL,” the acronym for “laugh out loud,” users in Ireland did not know what it meant(READ MORE)

Govt mull steps to check unruly passengers as Sena MP assaults AI staffer

Air India

Civil Aviation Minister Ashok Gajapathi Raju said such regrettable incidents should never happen again.

“We are also working on creating institutional mechanisms to check undesirable flight behaviour or unruly passengers,” Raju said in a series of tweets.

Following the incident, the national carrier is also looking to have a no-fly list.

“Air India is examining creation of no-fly list of unruly passengers on the lines of other carriers,” a senior airline official said.

Shiv Sena MP Ravindra Gaikwad, who was flying on an Air India flight from Pune to Delhi, hit the airline’s duty manager Sukumar with his slipper several times when the latter urged him to deplane after the lawmaker refused to do so once the plane landed at the Delhi airport.

“The MP turned violent, broke the duty manager’s spectacles, tore his shirt and hit him with slippers several times,” an airline source said.

Gaikwad, carrying a business class ticket, insisted on taking the airline’s early morning flight AI-852 from Pune to Delhi, which is an all-economy class. This led to an argument with the airline employees in Pune and an assault on the manager by the MP when the aircraft landed in Delhi(read more)