As a result of the partnership with the largest spirits company in India, Diageo, the maker of Johnnie Walker Scotch and Smirnoff vodka is aiming to derive about ten per cent of its total business from the country according to Diageo’s Chief Executive Ivan Menezes. Diageo, the world’s largest distiller based in London, over 30 per cent of its total sales from North America.
The Business Standard says, however, India has managed to grab the spotlight among the growth and revenue share it derives from emerging markets. In the first half of fiscal 2014, the company said it net sales in India grew 35 per cent against an average growth of 1.3 per cent in all emerging markets combined. Diageo attributed the growth to share gains and initial distribution gains from their sales promotion agreement with United Spirits after it began distributing its brands through the 65,000 outlets of United Spirits. “It is my ambition that all our markets have the capability which United Spirits has – to launch an innovation into 95 per cent of outlets in 5 days,” he explains.
March 31, 2014 No Comments
American Express Co., has bought a minority stake in Bangalore-based payment device maker Ezetap Mobile Solutions. Ezetap received venture funding of $10 million from a consortium of investors led by Helion Venture Partners. CEO Abhijit Bose, a former executive at mobile commerce platform ngpay, cofounded Ezetap in 2011 along with Bhaktha Keshavachar, a former engineer at Intel.
According to the Economic Times, the company incubated at Bangalore-based AngelPrime and has received funding from some of the world’s best -known investors, including PayPal’s Peter Thiel and enterprise social network company Yammer cofounder David Sacks as well as billionaire Nicolas Berggruen’s private equity fund Berggruen Holdings. Both Bose and investors declined to reveal the amount invested by the credit card issuer.
Ezetap which has deployed 12,000 devices across South East Asia and Africa, will use the funds to increase growth in these markets. It aims to take the total number of devices over 100,000 by next year. American Express believes mobile point of sales solutions will play an important role in helping to further enable commerce. “Especially in small merchant segments that have historically relied on cash,” said Sanjay Rishi, President, American Express, South Asia. “Ezetap is one of the few mobile point of sale companies in the world that owns the entire technology stack from its hardware and application to its open platform, integration framework, and processing,” he said.
The closest parallel to Ezetap’s point-of-sale device is the one offered by US-based Square, co-founded by Twitter co-founder Jack Dorsey. In India, Ezetap competes with Mswipe Technologies, which is backed by venture capital firm Matrix Partners, Axis Bank and DSG Consumer Partners. In February American Express Ventures, the venture capital arm of the New York-based credit-card issuer made a strategic investment in Indian startup Capillary Technologies, which builds technology that helps retailers understand customer purchase behavior.
March 29, 2014 No Comments
Cisco, the Silicon Valley based networking giant get 2 per cent of its global revenues of over $48 billion from India, expected the number to grow to 5 per cent over the next five years on the back of growing demand for cloud and networking services. “Right now, India’s contribution is small, about 2 per cent. We are committed to the Indian market. It should be 5-10 per cent of our revenues,” Mr. John Chambers, CEO said at a Las Vegas event
Asked about the timeline, Cisco Senior Vice President (Worldwide Field Operations) Chuck Robbins said it should be 5 per cent in the next five years. “We should grow over 20 per cent every year over the next five years,” he added.
Cisco has over 10,000 people in India across Bangalore, Delhi-NCR, Mumbai, Chennai, Kolkata, Pune and Hyderabad. Of these, 8,000 people are part of the R&D set up.
March 29, 2014 No Comments
According to the FDi report 2013, three of the BRICS countries namely India, China and Brazil, ended up in the top 5 destination countries for Foreign Direct Investment (FDI) globally in 2012.
Collectively, they attracted 18% of all global FDI projects. Regarding India, is has attracted 30.02% of all the FDI projects from the BRICS countries. The city which attracted the biggest amount of FDI in India, is Bangalore with 15% of total projects between 2003 and 2012.
Moreover, India is expected to attract even more FDI project in the medium to longer term, thanks to reforms such as, passing a new law about land acquisition, allowing more FDI in retailing, airlines and broadcasting.
April 26, 2013 No Comments
Citrix Systems, the Software maker based in California, has chosen Tuebora, a Bangalore-based startup for an investment. The technology provider is the second Indian venture to make it to the Citrix Startup Accelerator in Silicon Valley after Grexit, chosen in 2011.
Tuebora will now have access to Citrix products, partner channel and global customer base. Moreover, it will also acquire a seed capital of $250,000 and get office space in the Valley for the next 18 months. The market for identity and access governance solutions is growing at 30%-40% annually, according to research company Gartner. Tuebora, which has been running pilots for their technology at various companies, found numerous instances of undesired access granted to employees. The company, with headquarters in California now, has already filed three patents for its technology.
April 19, 2013 No Comments