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Inc42
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OYO To Expand Its Company-Serviced Hotels To Drive Revenue
- OYO is planning to expand its company-serviced hotels like Townhouse and SUNDAY to increase revenue by doubling the booking revenue to 44% in FY26.
- The company aims to grow its number of company-serviced properties to 1,800 by FY26 and expand presence to 300 cities, including Mohali, Faridabad, Jalandhar, Cuttack, Asansol, and Darjeeling.
- OYO's company-serviced hotels are managed directly by the company and boast higher occupancy rates compared to franchise hotels. Currently, OYO operates over 1,300 such properties including Townhouse Oak, Capital O, and Palette.
- OYO intends to file its IPO papers between August and September and is in discussions to achieve a valuation of $6-7 billion. The company is targeting an IPO listing in the March quarter of FY26.
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Economic Times
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IPO-bound Oyo eyes doubling of revenue from company serviced hotels by FY26
- Oyo, the global travel tech platform aiming for an IPO, plans to increase booking revenue from company-serviced hotels to 44% by the end of the current financial year, focusing on expansion in India and premium properties.
- The company presently operates over 1,300 company-serviced hotels in India, with brands like Townhouse, Capital O, and Palette, among others, and aims to double the share of these hotels in its portfolio across more than 300 cities in India.
- Oyo introduced company-serviced hotels in FY23, initially contributing less than 2% of booking revenue, but it has since become the company's fastest-growing business segment globally.
- Varun Jain, Oyo's COO, mentioned that these company-serviced hotels focus on enhancing guest experiences, have a higher customer rating of 4.6, and an occupancy rate 2.7 times higher than other hotels.
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Inc42
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Is Mila Beauté Redefining Affordable Beauty For India 2?
- Mila Beauté is redefining affordable beauty in India by focusing on 'Made for India, affordability, personalisation, and performance'.
- The brand caters to diverse skin tones, climate, and spending patterns, offering toxin-free and cruelty-free formulations at affordable prices.
- Targeting early millennials and Gen Z, Mila Beauté uses hyper-personalisation to cater to the discerning buyers' preferences.
- The brand's market includes lip shades, base product shades, and skincare-infused cosmetics tailored for Indian conditions.
- Mila Beauté follows an omnichannel approach with 40% sales from online platforms and 60% from over 8,000 offline retail counters.
- By collaborating with organic content creators and engaging college students, the brand is gaining traction among its target audience.
- Rukam Capital invested $2.16 Mn in Mila Beauté to support its disruptive market strategies, including expanding into Tier II cities.
- The brand plans to enhance R&D, expand retail presence, and increase SKUs to reach a revenue goal of crossing INR 100 Cr mark.
- Mila Beauté aims to redefine beauty standards in India by making high-performance cosmetics accessible to a wider consumer base.
- With a strategic focus on expansion and brand building, Mila Beauté envisions becoming a leading homegrown colour cosmetics brand in India.
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The Pragmatic Engineer
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The Pulse #136: Cloudflare builds OAuth framework mostly with Claude
- Cloudflare software engineer built a production-grade OAuth library in five days with AI assistance from Claude.
- Meta is trialing onsite interviews, AI agents accessing the web pose security risks, Apple Tax no longer applies to US web payments, Reddit sues Anthropic, and AI startup Builder.ai under scrutiny for faked product and revenue.
- AI engineers are now offered higher base salaries by top US AI startups and EU counterparts, surpassing traditional Senior Director of Engineering roles.
- Morgan Stanley employs AI with ChatGPT for rewriting legacy COBOL code, revealing potential in using LLMs to interpret and explain complex legacy codebases.
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Economic Times
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IPO-bound PhonePe announces UPI payments on feature phones
- PhonePe announced rollout of UPI payments for feature phones by purchasing GSPay technology stack from Gupshup.
- GSPay is based on UPI 123PAY to provide basic UPI features like P2P transfers, offline QR payments, and more for feature phone users.
- PhonePe aims to serve the underserved feature phone users to participate in India’s digital payments market.
- PhonePe has added Zarin Daruwala to its board of directors and started the process to list on Indian exchanges.
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Startup Pedia
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Elon Musk's father, Errol Musk hints at Tesla’s India plans during his 5-day visit
- Elon Musk's father, Errol Musk, hinted at Tesla's upcoming opportunities in India during his 5-day visit.
- Errol Musk emphasized the need for discretion in Elon's movements due to his global stature and economic impact.
- He mentioned that Elon Musk is expected to expand Starlink services in India for rural internet connectivity.
- Errol Musk, currently on a spiritual and business tour of India, praised the country and its people, describing the visit as wonderful.
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SiliconCanals
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Ali Niknam (bunq) believes a US dollar stablecoin could be ‘transformational’
- Ali Niknam of bunq hinted at a US Dollar stablecoin revolution for developing nations at Money 20/20 Europe panel in Amsterdam.
- He believes US dollar stablecoins accessible through mobile phones will be 'transformational' for people in countries with currency instability.
- Niknam discussed how stablecoins can provide access to stable financial instruments for billions left out of traditional banking during the panel.
- bunq's CEO also highlighted the neobank's AI innovation with real-time speech-to-speech translation and expansion plans for the UK and US markets.
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Inc42
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Apple Partners Tata For iPhone, MacBook Repairs In India: Report
- Apple has partnered with Tata Group for iPhone and MacBook repairs in India, showcasing the country's importance in Apple's global strategy.
- Tata will take over after-sales repair operations from Wistron's Indian subsidiary, centralizing repairs at its Karnataka campus.
- Apple's retail strategy in India is expanding, with plans for a new outlet in Mumbai and Tata Electronics aiming to double iPhone enclosures production.
- Tata Electronics is planning to double iPhone enclosures production capacity at its Hosur facility, aligning with Apple's September product launches.
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Startup Story
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Nxtmeal Raises $750K to Expand Corporate Catering Business in Bengaluru
- Bengaluru-based food-tech startup Nxtmeal raises $750,000 to expand its corporate catering operations in India's startup and tech hub.
- Nxtmeal aims to revolutionize workplace dining by incorporating technology, data, and design to address traditional catering challenges.
- The company focuses on solutions like pre-ordering, digital ordering, and data-driven menu planning to enhance meal experiences for corporate clients while promoting sustainability.
- Investment enables Nxtmeal to scale up to 25,000 meals per day with a new state-of-the-art central kitchen, catering to the needs of enterprise clients in Bengaluru.
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Medium
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Hiring exceptional product managers
- Product managers need skills in Vision, Execution, Leadership, and a foundational Mindset to deliver impactful solutions.
- During interviews, looking for PMs to demonstrate product strategy, decision-making, communication, and mindset to persist and achieve.
- Interviewers use case interviews and behavioral interviews to assess skills and mindset.
- By focusing on Vision, Execution, Leadership, and Mindset, companies can recruit talented product managers who drive impact and build high-performing teams.
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Economic Times
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Netgear acquires Bengaluru-based cybersecurity startup Exium
- Netgear has acquired Bengaluru-based cybersecurity startup Exium to offer integrated services for managed service providers (MSPs) and their customers.
- CEO Farooq Khan will lead the Exium team and join Netgear's leadership.
- Exium specializes in a secure access service edge (SASE) platform and has been deployed in multiple universities in India.
- Netgear plans to hire over 100 engineers in the next 12-18 months, including both the team at the new centre in Chennai and the Exium team.
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Inc42
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Apple To Open 4th India Store In Mumbai’s Borivali
- Apple is set to open its fourth retail store in India, with Mumbai's Borivali being chosen as the location for the outlet, housed in the Sky City Mall.
- The lease for the 12,616 square feet space spans nearly 11 years, with a monthly rent of INR 17.35 Lakh plus a 15% increase every three years, along with a security deposit of over INR 1 Cr.
- In addition to the upcoming store in Borivali, Apple already has stores in Mumbai and Delhi, with further plans to open another outlet in Bengaluru.
- Apple's retail expansion in India aligns with its focus on manufacturing in the country, including the commencement of production at facilities by Tata Electronics and Foxconn to manufacture older and newer iPhone models.
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TheStartupMag
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How to Choose the Best Knowledge Base Software for Your Business
- Choose knowledge base software based on whether it is for customers, internal staff, or both.
- Ensure the software is easy to use with a clear editor layout and user-friendly search functionalities.
- Prioritize customization and branding features to enhance user confidence in the knowledge base.
- Select a platform that can integrate with existing tools like customer support and project management software for efficiency.
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Startup Pedia
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“No MBA. No startup jargon": Auto driver earns ₹5–8 L/month by identifying problem of Visa applicants & solving it
- An auto driver in Mumbai has built a successful micro-enterprise by offering bag-keeping service to US visa applicants facing a problem at the Consulate.
- The auto driver charges ₹1,000 per customer for the service and attracts around 20-30 customers daily, earning him ₹5-8 lakhs per month.
- To address the issue of space for bags, he has partnered with a local police officer who provides locker space, ensuring a legal and secure operation.
- This success story highlights the essence of real entrepreneurship with no formal training or startup buzzwords, emphasizing the value of street-smart solutions over traditional business strategies.
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Startup Story
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Typof Launches SMEPay: India’s first UPI payment gateway for SMEs with 0% commission
- Typof has launched SMEPay, India's first UPI payment gateway for SMEs with 0% commission.
- SMEPay was created to address the high transaction fees faced by small sellers and to provide a fair and transparent payment infrastructure.
- The platform charges a flat ₹3 per successful UPI transaction, aiming to empower small and medium businesses in India by simplifying digital payment processes.
- SMEPay is gaining traction among early adopters, offering substantial savings and positioning itself as an alternative to legacy gateways, focusing on the needs of smaller merchants.
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