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Tag: Naspers

  • Gaming veteran Rahul Razdan launches Giga to blur entertainment boundaries

    Gaming veteran Rahul Razdan launches Giga to blur entertainment boundaries

    MUMBAI: Rahul Razdan, the architect behind some of India’s most audacious digital ventures, has emerged from Reliance Jio’s corridors to launch Giga, his latest gambit to reshape gaming and entertainment. The 51-year-old, who spent nearly a decade building JioChat into a multimedia powerhouse, now promises to deploy artificial intelligence to revolutionise how humans engage with games.

    Razdan’s pedigree reads like a who’s who of India’s digital transformation. As president of Tencent’s Indian operations between 2012 and 2014, he orchestrated WeChat’s meteoric rise, briefly dethroning established messaging giants. The app’s coup de grâce came via an audacious marketing blitz featuring Bollywood stars and a record-breaking QR code cake made from 7,500 individual cakes.

    His tenure at Jio proved equally theatrical. JioChat became the first app to bear the Jio brand, even predating the network itself. Under his stewardship, the platform birthed India’s pioneering vertical video ecosystem and hosted the award-winning KBC Play Along game, where users played alongside television’s prime-time quiz show in real time.

    Before his corporate conquests, Razdan co-founded ibibo.com, crafting what he claims was India’s first internet business with multiple revenue streams firmly embedded. The venture, backed by South Africa’s Naspers and China’s Tencent, pioneered social gaming with local flavour and real-money integration.

    Giga’s cryptic website teases that “the 400 pound gorilla is coming soon,” offering little beyond Razdan’s promise to blur traditional entertainment boundaries. His track record suggests punters should pay attention. After all, this is the same executive who recently pivoted to filmmaking at 51, producing an award-winning animated short that swept international festivals from London to Buenos Aires.

    Armed with degrees from the School of Planning and Architecture and IIM Indore, plus two decades navigating India’s digital rapids, Razdan appears intent on proving that gaming’s next act has only just begun.

  • Flipkart raises $1 billion; to focus on mobile technology

    Flipkart raises $1 billion; to focus on mobile technology

    MUMBAI: Flipkart has raised $1 billion in one of the largest funding rounds for any e-commerce company, globally.

     

    The round led by existing investors, Tiger Global Management and Naspers, saw Singapore’s sovereign wealth fund, GIC, as the new investor along with existing investors Accel Partners, DST Global, ICONIQ Capital, Morgan Stanley Investment Management and Sofina also participating in the latest financing round.

     

    The funds will be used to make long-term strategic investments in India, especially in mobile technology.

     

    “We believe internet will improve the quality of life for millions of Indians, and e- commerce is going to play a huge role in this change. The focus at Flipkart is to continue to make shopping online simpler and more accessible through the use of technology,” said founders Sachin Bansal and Binny Bansal.

     

    They added, “We have close to 22 million registered users today. We handle five million shipments a month. These numbers were unheard of a few years back and we are excited about the scale we have managed to achieve. But what is even more exciting is the huge opportunity that we still see before us.”

     

    India has 243 million internet users – and this number continues to grow very fast. By 2020, India will have more than half a billion mobile internet users. The platform will now focus on mobile and technology to take advantage of the massive opportunity.

     

    The new funding will enable it to step up its investments for innovations in products and technologies, setting it up to become the mobile e-commerce company of the future. It will help the e-retailer further accelerate momentum and build its presence to become a technology powerhouse.

     

    Over the past few years, Flipkart has led the supply-chain innovation in India. It has focused on making the online shopping experience as seamless as possible: being the first to launch 30 day replacement policy and the first player to run 24×7 customer support at scale in India, In-a-Day guarantee in 50 cities and the subscription service ‘Flipkart First’.

     

    Flipkart, which recently acquired Myntra, plans to continue investing in training sellers for the marketplace, providing all small  and  medium  entrepreneurs,  manufacturers  and  artisans  a  national  platform  to connect with millions of customers.