Paytm’s annual loss doubles to $549M – gpgmail


Running a payments business in India is not cheap. Just ask Paytm . One of India’s largest payment companies reported a net loss of Rs 3959 crore ($549 million) for the financial year that ended in March, up 165% over 1490 crore ($206 million) in the same period last year.

During the same period, the company’s revenue rose to Rs 3232 crore ($448 million), compared to Rs 3052 crore ($423 million) in the year before. The firm’s debt also surged to Rs 695 crore ($96 million), One97 Communications, the parent firm of Paytm, told investors in its annual report.

One97 Communications also runs an e-commerce business, which recently raised money from eBay, and Paytm Money, that runs mutual funds business. On a consolidated basis, the 9-year-old firm reported an annual loss of Rs 4217.20 crore ($584 million), up from Rs 1604.34 crore ($222 million) from the year before.

Indian news outlet BloombergQuint first reported (paywalled) the financial performance of Paytm.

The loss should worry Paytm, whose CEO Vijay Shekhar Sharma said in a conference last week that the firm would begin to work on going public in the next 22 to 24 months. The level of competition that Paytm faces today is only about to increase in the coming future, and unlike earlier, the Indian firm is not facing off financially weaker local rivals.

Paytm, which has raised over $2 billion to date from a range of investors including SoftBank, Alibaba, and Berkshire Hathaway, continues to be the largest mobile wallet app provider in India, but increasingly users are moving to government-backed UPI payments infrastructure. In UPI land, Paytm competes with Flipkart’s PhonePe and Google Pay, both of which are heavily-backed.

As of July, both PhonePe and Google Pay commanded a bigger market share across UPI apps than Paytm.

Also in UPI land, you don’t make money on each transaction. So lately, every payments firm in India, including Paytm, has expanded it offering to include financial services such as a credit card, or loan, or insurance.

In many ways, this has created a level playing field for payment firms that did not dominate the wallet business.

In a statement, Paytm said it has been investing $1 billion per year for the last two years to “expand payments ecosystem in our country.” The company plans to invest a further $3 billion in the next two years.

“We believe India is at the inflection point of digital payments and Paytm’s sole focus is towards solving the merchant payments and offering them financial services. We will invest Rs 20,000 crore ($2.7 billion) in the next two years towards achieving this,” a company spokesperson said.

The biggest challenge for Paytm and other UPI payment apps has yet to emerge. Before the end of this year, WhatsApp, which has over 400 million users in India, plans to offer UPI payment option to all its years in the coming month.


10 minutes mail – Also known by names like : 10minemail, 10minutemail, 10mins email, mail 10 minutes, 10 minute e-mail, 10min mail, 10minute email or 10 minute temporary email. 10 minute email address is a disposable temporary email that self-destructed after a 10 minutes. https://tempemail.co/– is most advanced throwaway email service that helps you avoid spam and stay safe. Try tempemail and you can view content, post comments or download something

State attorneys general to launch antitrust investigation into big tech companies, reports say – gpgmail


The state attorneys in more than a dozen states are preparing to begin an antitrust investigation of the tech giants, the Wall Street Journal and the New York Times reported Monday, putting the spotlight on an industry that is already facing federal scrutiny.

The bipartisan group of attorneys from as many as 20 states is expected to formally launch a probe as soon as next month to assess whether tech companies are using their dominant market position to hurt competition, WSJ reported.

If true, the move follows the Department of Justice, which last month announced its own antitrust review of how online platforms scaled to their gigantic sizes and whether they are using their power to curb competition and stifle innovation. Earlier this year, the Federal Trade Commission formed a task force to monitor competition among tech platforms.

It won’t be unprecedented for a group of states to look at a technology giant. In 1998, 20 states joined the Justice Department in suing Microsoft . The states could play a key role in building evidence and garnering public support for major investigations.

Because the tentacles of Google, Facebook, Amazon, and Apple reach so many industries, any investigation into them could last for years.

Apple and Google pointed the Times to their previous official statements on the matter, in which they have argued that they have been vastly innovative and created an environment that has benefited the consumers. Amazon and Facebook did not comment.

Also on Monday, Joseph Simons, the chairman of FTC, warned that Facebook’s planned effort to integrate Instagram and WhatsApp could stymie any attempt by the agency to break up the social media giant.

“If they’re maintaining separate business structures and infrastructure, it’s much easier to have a divestiture in that circumstance than in where they’re completely enmeshed and all the eggs are scrambled,” Simons told the Financial Times.


10 minutes mail – Also known by names like : 10minemail, 10minutemail, 10mins email, mail 10 minutes, 10 minute e-mail, 10min mail, 10minute email or 10 minute temporary email. 10 minute email address is a disposable temporary email that self-destructed after a 10 minutes. https://tempemail.co/– is most advanced throwaway email service that helps you avoid spam and stay safe. Try tempemail and you can view content, post comments or download something

Snapchat beats a dead horse – gpgmail


Hey. This is Week-in-Review, where I give a heavy amount of analysis and/or rambling thoughts on one story while scouring the rest of the hundreds of stories that emerged on gpgmail this week to surface my favorites for your reading pleasure.

Last week, I talked about how Netflix might have some rough times ahead as Disney barrels towards it.


The big story

There is plenty to be said about the potential of smart glasses. I write about them at length for gpgmail and I’ve talked to a lot of founders doing cool stuff. That being said, I don’t have any idea what Snap is doing with the introduction of a third-generation of its Spectacles video sunglasses.

The first-gen were a marketing smash hit, their sales proved to be a major failure for the company which bet big and seemingly walked away with a landfill’s worth of the glasses.

Snap’s latest version of Spectacles were announced in Vogue this week, they are much more expensive at $380 and their main feature is that they have two cameras which capture images in light depth which can lead to these cute little 3D boomerangs. One one hand, it’s nice to see the company showing perseverance with a tough market, on the other it’s kind of funny to see them push the same rock up the hill again.

Snap is having an awesome 2019 after a laughably bad 2018, the stock has recovered from record lows and is trading in its IPO price wheelhouse. It seems like they’re ripe for something new and exciting, not beautiful yet iterative.

The $150 Spectacles 2 are still for sale, though they seem quite a bit dated-looking at this point. Spectacles 3 seem to be geared entirely towards women, and I’m sure they made that call after seeing the active users of previous generations, but given the write-down they took on the first-generation, something tells me that Snap’s continued experimentation here is borne out of some stubbornness form Spiegel and the higher-ups who want the Snap brand to live in a high fashion world and want to be at the forefront of an AR industry that seems to have already moved onto different things.

Send me feedback
on Twitter @lucasmtny or email
lucas@Gpgmail.com

On to the rest of the week’s news.

tumblr phone sold

Trends of the week

Here are a few big news items from big companies, with green links to all the sweet, sweet added context:

  • WordPress buys Tumblr for chump change
    Tumblr, a game-changing blogging network that shifted online habits and exited for $1.1 billion just changed hands after Verizon (which owns gpgmail) unloaded the property for a reported $3 million. Read more about this nightmarish deal here.
  • Trump gives American hardware a holiday season pass on tariffs 
    The ongoing trade war with China generally seems to be rough news for American companies deeply intertwined with the manufacturing centers there, but Trump is giving U.S. companies a Christmas reprieve from the tariffs, allowing certain types of hardware to be exempt from the recent rate increases through December. Read more here.
  • Facebook loses one last acquisition co-founder
    This week, the final remnant of Facebook’s major acquisitions left the company. Oculus co-founder Nate Mitchell announced he was leaving. Now, Instagram, WhatsApp and Oculus are all helmed by Facebook leadership and not a single co-founder from the three companies remains onboard. Read more here.

GAFA Gaffes

How did the top tech companies screw up this week? This clearly needs its own section, in order of badness:

  1. Facebook’s turn in audio transcription debacle:
    [Facebook transcribed users’ audio messages without permission]
  2. Google’s hate speech detection algorithms get critiqued:
    [Racial bias observed in hate speech detection algorithm from Google]
  3. Amazon has a little email mishap:
    [Amazon customers say they received emails for other people’s orders]

Adam Neumann (WeWork) at gpgmail Disrupt NY 2017

Extra Crunch

Our premium subscription service had another week of interesting deep dives. My colleague Danny Crichton wrote about the “tech” conundrum that is WeWork and the questions that are still unanswered after the company filed documents this week to go public.

…How is margin changing at its older locations? How is margin changing as it opens up in places like India, with very different costs and revenues? How do those margins change over time as a property matures? WeWork spills serious amounts of ink saying that these numbers do get better … without seemingly being willing to actually offer up the numbers themselves…

Here are some of our other top reads this week for premium subscribers. This week, we published a major deep dive into the world’s next music unicorn and we dug deep into marketplace startups.

Sign up for more newsletters in your inbox (including this one) here.




10 minutes mail – Also known by names like : 10minemail, 10minutemail, 10mins email, mail 10 minutes, 10 minute e-mail, 10min mail, 10minute email or 10 minute temporary email. 10 minute email address is a disposable temporary email that self-destructed after a 10 minutes. https://tempemail.co/– is most advanced throwaway email service that helps you avoid spam and stay safe. Try tempemail and you can view content, post comments or download something

India’s Meesho raises $125M to expand its social commerce business – gpgmail


Meesho, a Bangalore-based social commerce startup, has raised $125 million in a new financing round to expand its business in the country and change the way millions shop online.

The Series D round was led by Naspers, and existing investors SAIF, Sequoia, Shunwei Capital, RPS and Venture Highway participating as well. Facebook also participated in the round, so did Arun Sarin, former CEO of Vodafone Group. The four-year-old startup has raised $190 million to date.

Meesho is an online marketplace that connects sellers with customers on social media platforms such as WhatsApp, Facebook, and Instagram. The startup claims to have a network of more than 2 million resellers from 700 towns who largely deal with apparel, home appliances and electronics items.

These resellers are mostly homemakers, most of whom have purchased a smartphone for the first time in recent years. Eighty percent of Meesho’s user base is female.

meesho android

Meesho said the startup will use the fresh capital to expand its reach in the nation and add as many as 18 million new sellers by end of next year. “The latest investment will also strengthen Meesho’s aim to grow its community of women entrepreneurs who have dreamt of running their own businesses but lacked the funds and expertise to do so,” the company said.

More than 90% of businesses in India are still offline and unorganized. Meesho is trying to get these businesses, most of whom don’t have working capital to enable their own online presence, sell online, Vidit Aatrey, Meesho co-founder and CEO, told gpgmail in an interview.

“I am particularly proud that Meesho has cut across gender, education levels, risk appetites and vocations to create livelihoods for people with no investment of their own. Our social sellers are small retailers, women, students and retired citizens, with 70% being homemakers who have found financial freedom and a business identity without having to step outside their homes,” said Aatrey.

Meesho also plans to use the new funds to further bulk up its technology platform to accommodate new product lines.

“The phenomenal growth they are already experiencing shows that Meesho has hit a sweet spot in the market and is well-poised to serve the next 500 million online shoppers in the country,” said Ashutosh Sharma, Head of India Investments, Naspers Ventures, in a statement.


10 minutes mail – Also known by names like : 10minemail, 10minutemail, 10mins email, mail 10 minutes, 10 minute e-mail, 10min mail, 10minute email or 10 minute temporary email. 10 minute email address is a disposable temporary email that self-destructed after a 10 minutes. https://tempemail.co/– is most advanced throwaway email service that helps you avoid spam and stay safe. Try tempemail and you can view content, post comments or download something

Telegram introduces a feature to prevent users from texting too often in a group – gpgmail


Telegram, a popular instant messaging app, has introduced a new feature to give group admins on the app better control over how members engage, the latest in a series of interesting features it has rolled out in recent months to expand its appeal.

The feature, dubbed Slow Mode, allows a group administrator to dictate how often a member could send a message in the group. If implemented by a group, members who have sent a text will have to wait between 30 seconds to as long as an hour before they can say something again in that group.

telegram slow mode groups

The messaging platform, which had more than 200 million monthly active users as of early 2018, said the new feature was aimed at making conversations in groups “more orderly” and raising the “value of each individual message.” It suggested admins to “keep [the feature] on permanently, or toggle as necessary to throttle rush hour traffic.”

As tech platforms including WhatsApp grapple with containing the spread of misinformation on their messaging services, the new addition from Telegram, which has largely remained immune to any similar controversies, illustrates how proactively it works on adding features to control the flow of information on its platform.

In comparison, WhatsApp has enforced limits on how often a user could forward a text message and is using machine learning techniques to weed out fraudulent users during the sign up procedure itself.

Shivnath Thukral, Director of Public Policy for Facebook in India and South Asia, said at a conference this month that virality of content has dropped by 25% to 30% on WhatsApp since the messaging platform imposed limits on forwards.

Telegram isn’t marketing the “Slow Mode” as a way to tackle the spread of false information, though. Instead, it says the feature would give users more “peace of mind.” Indeed, unlike WhatsApp, which allows up to 256 users to be part of a group, up to a whopping 200,000 users can join a Telegram group.

On a similar tone, Telegram has also added an option that will enable users to send a message without invoking a sound notification at the recipient’s end. “Simply hold the Send button to have any message or media delivered without sound,” the app maker said. “Your recipient will get a notification as usual, but their phone won’t make a sound – even if they forgot to enable the Do Not Disturb mode.”

Telegram has also introduced a range of other small features such as the ability for group owners to add custom titles for admins. Videos on the app now display thumbnail previews when a user scrubs through them, making it easier to them to find the right moment. Like YouTube, users on Telegram too can now share a video that jumps directly at a certain timestamp. Users can also animate their emojis now — if they are into that sort of thing.

In June, Telegram introduced a number of location-flavored features to allow users to quickly exchange contact details without needing to type in digits.


10 minutes mail – Also known by names like : 10minemail, 10minutemail, 10mins email, mail 10 minutes, 10 minute e-mail, 10min mail, 10minute email or 10 minute temporary email. 10 minute email address is a disposable temporary email that self-destructed after a 10 minutes. https://tempemail.co/– is most advanced throwaway email service that helps you avoid spam and stay safe. Try tempemail and you can view content, post comments or download something

Zendesk puts Smooch acquisition to work with WhatsApp integration – gpgmail


Zendesk has always been all about customer service. Last spring it purchased Smooch to move more deeply into messaging app integration. Today, the company announced it was integrating WhatsApp, the popular messaging tool, into the Zendesk customer service toolkit.

Smooch was an early participant in the WhatsApp Business API program. What that does in practice says Warren Levitan, who came over as part of the Smooch deal, is provide a direct WhatsApp phone number for businesses using Zendesk . Given how many people, especially in Asia and Latin America, use WhatsApp as a primary channel for communication, this is a big deal.

“The WhatsApp Business API Connector is now fully integrated into Zendesk support. It will allow any Zendesk support customer to be up and running with a new WhatsApp number quicker than ever before, allowing them to connect to the 1.5 billion WhatsApp users worldwide, communicating with them on their channel of choice,” Levitan explained.

Levitan says the entire WhatsApp interaction experience is now fully integrated into the same Zendesk interface that customer service reps are used to using. WhatsApp simply becomes another channel for them.

“They can access WhatsApp conversations from within the same workspace and agent desktop, where they handle all of their other conversations. From an agent perspective, there are no new tools, no new workflows, no new reporting. And that’s what really allows them to get up and running quickly,” he said.

Customers may click or touch a button to dial the WhatsApp number, or they may use a QR code, which is a popular way of accessing WhatsApp customer service. As an example, Levitan says Four Seasons hotels prints a QR code on room key cards, and if customers want to access customer service, they can simply scan the code and the number dials automatically.

Zendesk has been able to get 1000 businesses up and running as part of the early access program, but now it really wants to scale that and allow many more businesses to participate. Up until now, Facebook has taken a controlled approach to on-boarding, having to approve each brand’s number before allowing it on the platform. Zendesk has been working to streamline that.

“We’ve worked tightly with Facebook (the owner of WhatsApp), so that we can have an integrated brand approval and on-boarding/activation to get their number lit up. We can now launch customers at scale, and have them up and running in days, whereas before it was more typically a multi-week process,” Levitan said.

For now, when the person connects to customer service via WhatsApp, it’s only via text messaging, There is no voice connection, and no plans for any for the time being, according to Levitan. Zendesk-WhatsApp integration is available starting today worldwide.


10 minutes mail – Also known by names like : 10minemail, 10minutemail, 10mins email, mail 10 minutes, 10 minute e-mail, 10min mail, 10minute email or 10 minute temporary email. 10 minute email address is a disposable temporary email that self-destructed after a 10 minutes. https://tempemail.co/– is most advanced throwaway email service that helps you avoid spam and stay safe. Try tempemail and you can view content, post comments or download something

Twilio launches SendGrid Ads and new cross-channel messaging API – gpgmail


At its annual Signal developer conference, Twilio today announced a couple of new features for developers on its core messaging platform and users of its recently acquired SendGrid email service. The new Twilio tools now allow developers to create multi-channel messaging tools and to get real-time streams of conversations in order to run them through transcription services, a translation tool or other machine learning models.

The company’s $3 billion acquisition of SendGrid closed less than half a year ago, so it doesn’t come as a surprise that Twilio would use its biggest event of the year to showcase the service to its developer community.

It’s a bit of an odd one, though. See, SendGrid already announced the beta of SendGrid Ads back in November 2018. As best as I can tell, Twilio SendGrid Ads, which is now launching in beta, is the same product, but a Twilio representative tells me that the ads product is now more deeply integrated into SendGrid Marketing Campaigns, and also got a bit of a redesign. A form of this integration already existed in the previous version, though.

The general idea here is to allow SendGrid users to run multichannel display ad campaigns on Facebook, Instagram and Google from their SendGrid accounts. The advantage of this, the company argues, is that marketers will be able to use data from their email campaigns and website data to then retarget users on other channels. Similarly, they can use lead ads on Facebook to get potential customers to sign up for their SendGrid mailing list.

SendGrid Ads will cost $50 per month, plus the cost of the ads. SendGrid will also take its own cut of 5% of any media cost over $500.

The new developer tools are pretty straightforward. Twilio Conversations, now in public beta, is a new API that allows developers to create solutions that integrate various messaging channels like SMS, WhatsApp and other chat tools.

“Over the last two decades, we’ve watched businesses evolve their communications with customers from the phone call, to website chat, to native mobile apps,” said Chee Chew, chief product officer at Twilio. “Leading companies have figured out that the next evolution of great customer experience is through messaging. Twilio Conversations empowers businesses to build personal, long-lived connections with their customers on the channels they prefer.”

Twilio Media Streams does exactly what it promises to do. Previously, you could get a recording to a call. Now, you can tap into the real-time call to analyze that stream in real time. That’s useful for all kinds of AI tools that aim to help call center agents, for example. This service is now also in public beta and will cost $0.004 per minute, in addition to the rest of the fees associated with the call.


10 minutes mail – Also known by names like : 10minemail, 10minutemail, 10mins email, mail 10 minutes, 10 minute e-mail, 10min mail, 10minute email or 10 minute temporary email. 10 minute email address is a disposable temporary email that self-destructed after a 10 minutes. https://tempemail.co/– is most advanced throwaway email service that helps you avoid spam and stay safe. Try tempemail and you can view content, post comments or download something

Facebook to admit ownership of Instagram, WhatsApp in barely visible small-print – gpgmail


For the first time in more than half a decade, Facebook wants to inform you that it owns Instagram, the hyper-popular rival social networking app it acquired for a $1BN steal back in 2012.

Ditto messaging platform WhatsApp — which Mark Zuckerberg splurged $19BN on a couple of years later to keep feeding eyeballs into his growth engine.

Facebook is adding its own brand name alongside the other two — in the following format: ‘Instagram from Facebook’; ‘WhatsApp from Facebook.’

The cheap perfume style rebranding was first reported by The Information which cites three people familiar with the matter who told it employees for the two apps were recently notified internally of the plan to rebrand.

“The move to add Facebook’s name to the apps has been met with surprise and confusion internally, reflecting the autonomy that the units have operated under,” it said. Although it also reported that CEO Mark Zuckerberg has also been frustrated that Facebook doesn’t get more credit for the growth of Instagram and WhatsApp.

So it sounds like Facebook may be hoping for a little reverse osmosis brand-washing — aka leveraging the popularity of its cleaner social apps to detoxify the scandal-hit mothership.

Not that Facebook is saying anything like that publicly, of course.

In a statement to The Information confirming the rebranding it explained it thus: “We want to be clearer about the products and services that are part of Facebook.”

The rebranding also comes at a time when Facebook is facing at least two antitrust investigations on its home turf — where calls for Facebook and other big tech giants to be broken up are now a regular feature of the campaign trail…

We can only surmise the legal advice Facebook must be receiving vis-a-vis what it should do to try to close down break up arguments that could deprive it of its pair of golden growth geese.

Arguments such as the fact most Instagram (and WhatsApp) users don’t even know they’re using a Facebook-owned app. Hence, as things stand, it would be pretty difficult for Facebook’s lawyers to successfully argue Instagram and WhatsApp users would be harmed if the apps were cut free by a break-up order.

But now — with the clumsy ‘from Facebook’ construction — Facebook can at least try to make a case that users are in a knowing relationship with Facebook in which they willingly, even if not lovingly, place their eyeballs in Zuckerberg’s bucket.

In which case Facebook is not telling you the Instagram user that it owns Instagram for your benefit. Not even slightly.

Note, for example, the use of the comparative adjective “clearer” in Facebook’s statement to explain its intent for the rebranding — rather than a simple statement: ‘we want to be clear’.

It’s definitely not saying it’s going to individually broadcast its ownership of Instagram and WhatsApp to each and every user on those networks. More like it’s going to try to creep the Facebook brand in. Which is far more in corporate character.

At the time of writing a five day old update of of Instagram’s iOS app already features the new construction — although it looks far more dark pattern than splashy rebrand, with just the faintest whisker of grey text at the base of the screen to disclose that you’re about to be sucked into the Facebook empire (vs a giant big blue ‘Create new account’ button winking to be tapped up top… )

Here’s the landing screen — with the new branding. Blink and you’ll miss it…

So not full disclosure then. More like just an easily overlooked dab of the legal stuff — to try to manage antitrust risk vs the risk of Facebook brand toxicity poisoning the (cleaner) wells of Instagram and WhatsApp.

There are signs the company is experimenting in some extremely dilute cross-brand-washing too.

The iOS app description for Instagram includes the new branding — tagged to an ad style slogan that gushes: “Bringing you closer to the people and things you love.”  But, frankly, who reads app descriptions?

image1

Up until pretty recently, both Instagram and WhatsApp had a degree of independence from their rapacious corporate parent — granted brand and operational independence under the original acquisition terms and leadership of their original founders.

Not any more, though. Instagram’s founders cleared out last year. While WhatsApp’s jumped ship between 2017 and 2018.

Zuckerberg lieutenants and/or long time Facebookers are now running both app businesses. The takeover is complete.

Facebook is also busy working on entangling the backends of its three networks — under a claimed ‘pivot to privacy‘ which it announced earlier this year.

This also appears intended to try to put regulators off by making breaking up Facebook much harder than it would be if you could just split it along existing app lines. Theories of user harm potentially get more complicated if you can demonstrate cross-platform chatter.

The accompanying 3,000+ word screed from Zuckerberg introduced the singular notion of “the Facebook network”; aka one pool for users to splash in, three differently colored slides to funnel you in there.

“In a few years, I expect future versions of Messenger and WhatsApp to become the main ways people communicate on the Facebook network,” he wrote. “If this evolution is successful, interacting with your friends and family across the Facebook network will become a fundamentally more private experience.”

The ‘from Facebook’ rebranding thus looks like just a little light covering fire for the really grand dodge Facebook is hoping to pull off as the break-up bullet speeds down the pipe: Aka Entangling its core businesses at the infrastructure level.

From three networks to one massive Facebook-owned user data pool. 

One network to rule them all, one network to find them,
One network to bring them all, and in the regulatory darkness bind them


10 minutes mail – Also known by names like : 10minemail, 10minutemail, 10mins email, mail 10 minutes, 10 minute e-mail, 10min mail, 10minute email or 10 minute temporary email. 10 minute email address is a disposable temporary email that self-destructed after a 10 minutes. https://tempemail.co/– is most advanced throwaway email service that helps you avoid spam and stay safe. Try tempemail and you can view content, post comments or download something