News Burger of the Day – Your Daily Prep Diet – Jan 14th
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If you follow these articles regularly, they will help you build a broader perspective of the current Indian and global business scenario. Also, moving away a bit from regular news, we will try to bring forth informative articles that will guide your preparation for interviews.
Pepsico is planning to create 2 master brands to steer fast pace growth in snacking industry. Lays and Kurkure, its two large Rs.1,000 crore plus brands, will now spearhead PepsiCo’s presence in the western salted snacks segment and Indian salted snacks market, in which it has very little representation.The company is planning new launches every 3-4 months to add to the portfolio of its two master brands. The move will see the company take on domestic major Haldiram Foods International Pvt. Ltd, whose Haldiram’s is the largest brand by value in the sweet as well as savoury snacks market with an 18% share.
The Indian rupee weakened to an over two-year low on Thursday as a sell-off in most emerging market equities and currencies triggered outflows from the domestic stock market. Concerns of another yuan devaluation also kept investors edgy.The currency settled at 67.30 per dollar on Thursday after shedding 0.66% in a single session. The rupee was the second worst performer among Asian currencies on Thursday. Most Asian currencies dropped by about 0.25% on Thursday as worries over a further devaluation of the yuan persisted although the Chinese central bank has been pegging the mid-point of the yuan higher for the past three sessions
UrbanClap has raised $36.6 million, Housejoy has raised over $25 million (Amazon.com Inc. led an investment round in December) and Quikr has announced investment of Rs.250 crore into its services business.The sector has attracted deep pocketed investors such as Amazon, Bessemer Venture Partners, Vertex Ventures, Qualcomm Ventures, Ru-Net Technology Partners, Matrix Partners, Accel Partners and SAIF Partners further validating the business model. Platform operators charge 10-30% commission from service providers for every transaction. Analysts say that it is not fund-raising or gross services value (GSV)—the value of services sold through the platform—that will determine market leadership. That will be decided by commissions, they add, and the winner will be the company that can clock $100 million in commissions from service providers