CleverTap completes acquisition of Leanplum

Appoints Leanplum co-founder Momchil Kyurkchiev as Chief Strategy Officer

e4m by exchange4media Staff
Published: Jun 13, 2022 2:56 PM  | 2 min read
clevertap

CleverTap has announced it has completed its acquisition of San Francisco based Leanplum, a multi-channel customer engagement platform.

“The acquisition, originally announced on 19th May, was closed in a record time of 3 weeks. With this acquisition, CleverTap has strengthened its footprint in the US and Europe. CleverTap will combine the product stack of both organizations and extend its world-class solutions and technology to all its customers and prospects worldwide. Momchil Kyurkchiev, Co-Founder of Leanplum, has joined CleverTap’s leadership team as Chief Strategy Officer. With the completion of the acquisition, CleverTap also welcomes marquee investors Norwest PartnersShasta VenturesCanaan, and Kleiner Perkins as its shareholders,” read a release.

The acquisition becomes revenue accretive for CleverTap from June 1st 2022. 

“We are very excited to welcome Momchil and all Leanplum employees to the CleverTap family and expect full integration of the two companies, including an integrated product in the market to get completed over the next 3-4 quarters,” says Sunil Thomas, CleverTap Co-founder and Executive Chairman. “With this acquisition Customers will now have a wide variety of product features and options to choose, from the best of both product line-ups (A/B Testing, Segmentation,Campaigns, Journeys etc.) At the same time, the acquisition provides a much bigger growth, exposure and learning opportunities for employees and collectively we will now become a dominant force with a large global footprint”.

“The Martech landscape the world over is evolving at an exponential rate and hyper-personalized digital engagement at scale is the need of the hour. I am sure that together, Leanplum and CleverTap will address this need and continue to drive innovation in this space. CleverTap and Leanplum individually have had a robust presence in terms of geographical reach, industries, and categories. Collectively we will now become a dominant force with a large global footprint,” says Momchil Kyurkchiev, Chief Strategy Officer at CleverTap.

“As we expand globally, we are looking to retain as well as grow 100% of the Leanplum customers by bringing all combined capability on one platform in due course. We also plan to increase our headcount in the US and Europe. Together, we aspire to be recognized as a SaaS talent powerhouse built on a strong people-first culture driven by values and equality,” added Sunil.

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'India will be one of the most powerful start-up ecosystems in the world'

A panel discussion at the e4m DNPA Digital Media Conference 2023 deliberated on 'Challenges before start-ups in the current digital ecosystem'

By exchange4media Staff | Jan 25, 2023 5:16 PM   |   4 min read

dnpa

India boasts one of the largest start-up ecosystems, enabling the dream of the country becoming a several-million-dollar economy. However, despite government measures to boost the start-ups – in terms of investments and profitability – there are challenges.

The topic of 'Challenges before Start-Ups in current digital ecosystem-Possibilities and Choices' was discussed during a session at the e4m DNPA Digital Media Conference 2023. The panel comprised Ajay Data, MD, Data Group of Industries; Murugavel Janakiraman, CEO, Bharat Matrimony; Ritesh Malik, Director, ADIF & Founder- Plaksha University; Rohan Verma, CEO and Executive Director, Map My India. The session was chaired by Ruhail Amin, Senior Editor, Businessworld & exchange4media.

Speaking about the challenges facing start-ups, Verma said, “Honestly, I think it is very clear that the entrepreneurial talent in India, especially in the digital space, is extremely high. I see no lack of capability. As we have said multiple times, the key challenge has been there because of monopolistic activities that have been suppressing the Indian digital ecosystem. That is the key challenge of our times and I'm pleased that some things are changing with regard to that. 

Malik presented his observations about the challenges that have cropped up in the last few years in the start-up ecosystem: “It took 125 years for Silicon Valley to become what it is. In India, we are leap-frogging the technology era. I think we are going to be one of the most intensely powerful start-up ecosystems and technology ecosystems.

Citing the success of the UPI system in India, he added: "Our mobile payment infrastructure is way ahead of developed nations. Just think of what we will do with the entire Ayushman Bharat digital health mission. We will be one of the most technology-savvy citizen programmes in the world. So the good part is, for the first time, the government is focussing. I think we are standing on a large opportunity. Having said that, technology regulation is important. Unfortunately, it is always falling behind the actual technological innovation. In my opinion, we need to develop a special ministry whose job would be to ensure that another East India Company does not happen again and that Indians are not to be taken for a ride and that our data remains ours; that we are not just a large digital democracy for other large monopoly companies to come, use, generate revenue but also to make sure that our MSME does not get squeezed.”

Singla noted, “Even while we are sitting here, we talk about start-up and start-up ecosystem, but Amar Ujala is a hyper-local newspaper and has a presence in Tier II and Tier III cities. There, education and awareness are still required. From a media perspective, there is a good amount of innovation that is still seen as a challenge. I would say that there is a lot of room for identifying the right business sustainability model.”

Speaking on the broader challenges that need to be addressed in the start-up ecosystem, Data said, “It is extremely important that all entities work together to ensure – whether it is mentoring or education or incubation centres or investments or subsidies or government support – that the frictions between things have to be reduced. And the knowledge about the availability of those resources has to be made very simpler and easy.”

Janakiraman, who joined virtually, spoke from a sectoral standpoint and touched upon the issues that need to be overcome to render a robust start-up ecosystem. He said, “Digital start-ups can significantly contribute to country growth. Today, Indian start-ups are not only limiting themselves to country boundaries but looking at global opportunities. The Internet, 15 years ago, was free and open. Anybody could set up an Internet business or a dotcom; Internet was not controlled by any organisation. Today, the shift has happened, we all know that. The majority of the traffic is happening through mobile apps. So, more than 90 per cent of the traffic happens through the two dominant players – Google and Apple. What are the implications? Today, they are not simply platform providers or access providers; today, they are the platforms as well as players. The challenge is that when the platform becomes a player, their interest changes. Because they are commercial entities and their primary objective is to make money. And because they are both platform and player, they start abusing dominance and that is not good for Indian start-ups nor Indian consumers.”

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Experts discuss competition laws governing digital media in India

At e4m-DNPA Future of Digital Media conference 2023, media industry leaders deliberate on topic, competition laws governing digital media- need for review

By exchange4media Staff | Jan 25, 2023 3:44 PM   |   4 min read

DNPA panel

At e4m-DNPA Future of Digital Media conference, industry experts came together for a panel discussion on ‘competition laws governing digital media- need for review’. The discussion was chaired by Dhanendra Kumar, former chairman of Competition Commission of India. The panelists were Karan Singh Chandhiok- Practice Head-Competition Law- Chandhiok and Mahajan; Pawan Duggal- Head- Pawan Duggal Associates; Parthasarthi Jha; Economic law practice; Avaantika Kakkar, Partner-Competition - Cyril Amarchand Mangaldas; Vaibhav Kakkar, Partner- Saraf and Partners; Abir Roy- co-founder- Sarvada legal, Anil Malhotra, Head- Public & Regulatory Affairs, Zee Entertainment Enterprises Limited. 

Kumar opened the discussion briefing the audience about the competition laws governing digital media in India and how they were help in accelerating the country’s economic growth.

Anil Malhotra joined the conversation, “Certain perspectives change when we move from linear to digital media, and we are governed by certain regulations in linear which are not duplicated in the digital domain. The organised media player expects a fair and transparent revenue share because the organised media invest a lot in people, infrastructure, and building networks.”

Karan Singh Chandhiok added, “We have good laws, but lack enforcement. Law creates a framework that is flexible enough to deal with eventualities. Besides looking at the competition laws, we should look at a broad picture that includes more information. From a business perspective, the three things to keep in mind while catching up and implementing laws are: predictability and certainty in enforcement, regulatory dialogue and unintended consequences of both legislations and enforcement.”

Abir Roy mentioned, “The biggest challenge is the enforcement of a particular law. Enforcement needs to be certain and the regulator needs to be more dynamic.

Joining the discussion, Avaantika Kakkar shared her views on digital media. “When the pandemic began and we did not get newspapers, we started reading content online. We evolved much during the pandemic and we witnessed the scenario of subscription-based news platforms. Digital players are creating opportunities, which result in access which was never explored before.”

On the legal system, she said, “We have a robust legal system, IP laws, and data protection laws, some laws are evolving, and amendments are being introduced. 

Kumar then asked Parthasarthi Jha to share how digital media is evolving and how the internet has obliterated geographical borders. On laws, Parthasarthi said, “the new law must be fabricated and addressed in a manner that must contain some base work.”

Pawal Duggal opined that internet has transformed human beings into data entities. “We all have become global authors, global transmitters, and global broadcasters of data, and in scenarios like such, we have to keep aside the traditional perceptions of media and should start looking at things from the digital media point of view,” he said.

Duggal said that chatgpt which has completely changed the landscape of digital media. “It is a revolutionary kind of algorithm that has shaken the entire world and which is probably going to impact the content being prepared by media organisations as it is going to be more AI-based.”

Talking about competition laws Vaibhav mentioned the mendment introduced by MIB recently on fake news
that talks about giving Press Information Bureau the responsibility to declare what is fake news. He said, “We need independent arbitrators to decide more on free speech.”

He also mentioned that India should not always copy the West while framing and implementing legislation. “India is a completely different country in terms of population count and other things. India needs evidence based laws and not perceptions-based laws,” he opined.

As concluding remarks, Dhanendra requested all the panellists to sum up pointers of the conversation. The key pointers were: sanitise publishers operating out from India to clear the ground for Indian digital players in fair revenue share; study the laws before enforcing to avoid adverse repercussions; law should be evidence-based and it should ensure fairness and reasonability among the market participants; the idea of fairness is more pervasive, it’s not limited to internet and digital media and it is important for marketers to be flexible to get the fair share in the business; the law should be fair and competition law is not the socialisation of private property; India require a dedicated law on digital media; India need to think carefully at the regulations.

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US sues Google, new lawsuit aims to break up tech giant's ad unit

Google contended that the lawsuit by the US DoJ would reverse years of innovation and harm the broader ad sector

By exchange4media Staff | Jan 25, 2023 7:57 AM   |   1 min read

google

Big Tech major Google has been sued by the United States Department of Justice for the second time over anti-competitive practices. This is the US DoJ's second antitrust lawsuit against the tech giant.

Google has been accused of dominating the digital ad market, according to people privy to the matter. The lawsuit will aim to dismantle the tech giant's ad-tech department over its monopoly in the digital ad space.

Reports say that the case will be filed in the federal court before the end of the week.

DoJ chief Jonathan Kanter reportedly said in a press conference that the lawsuit aims to hold Google to account for its "longstanding monopolies in digital advertising technologies that content creators use to sell ads and advertisers use to buy ads."

Google retorted by saying that the lawsuit by DoJ " attempts to pick winners and losers in the highly competitive advertising technology sector."

The tech giant doubled down by stating that the lawsuit is an attempt to "rewrite history at the expense of publishers, advertisers and internet users."

Google also highlighted the ad businesses and practices of its competitors Microsoft, Amazon, Apple, TikTok, Comcast and Disney but the government chose not to go after them.

The tech company is also accused of antitrust practices in India where the Competition Commission of India has slapped heavy penalties against it for abusing its dominance in the Android ecosystem.

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JetSynthesys acquires majority stake in Fanory

Onboards former Twitter India Head Manish Maheshwari in leadership role

By exchange4media Staff | Jan 24, 2023 6:29 PM   |   3 min read

jet

Digital entertainment and technology company, JetSynthesys, has acquired majority stake in Fanory, a start-up that helps creators monetize on social media platforms. As part of this transaction, JetSynthesys has onboarded exTwitter India Head and Fanory’s co-founder, Manish Maheshwari, as President at the Corporate level, JetSynthesys. Shareholders of JetSynthesys include the family offices of Infosys CoFounder Kris Gopalakrishnan, Serum Institute's Adar Poonawalla, and cricketing legend Sachin Tendulkar, amongst others.

Co-founded by Maheshwari along with two of his former colleagues, Fanory enables creators to monetize their craft on their terms through their community of fans, thereby turning them into micro-entrepreneurs. The platform connects creators with their superfans through a personalized app, a model similar to how in the eCommerce space, Shopify helps small offline businesses set up personalized digital stores. Maheshwari will now focus on the global expansion of Fanory.

Regarding the transaction and new appointment, Rajan Navani, Founder and CEO, JetSynthesys, says, "Last year has seen high growth for us at JetSynthesys, and we are happy to begin 2023 with this transaction. We are looking forward to expanding our horizons in the digital entertainment space. The social media creators market has grown exponentially, and we see this continuing for the foreseeable future. Fanory's model is beneficial for creators. It compensates them for their hard work and creativity. With Manish by our side, we look forward to exploring this new avenue and entrenching ourselves deeper into the digital entertainment realm."

Fanory as a platform will work closely with the digital entertainment pillar of JetSynthesys.

Fanory will assist creators in locating their superfans, i.e., those who are both ready and willing to pay for exclusive opportunities to interact with their favorite artists. It will then enable creators to upsell premium experiences on a personalized app through a frictionless, coin-based payment mechanism.

Manish Maheshwari, Co-founder of Fanory and now President, Corporate Level, JetSynthesys, said, "Social media platforms prioritize follower acquisition and engagement so that they can sell adverts to brands. Direct monetization for creators is an afterthought. Fanory is different because its core and only focus is creator monetization. This deal will exponentially grow the possibilities for creators and their superfans as they now have access to the broader platform and ecosystem relationships of JetSynthesys."

Before joining Twitter, Maheshwari was CEO of Network18 Digital. He has previously held leadership positions at Intuit and McKinsey in San Francisco and New York respectively.

Manish's career has seen a sharp focus on social media, digital content, and technology platforms. In his previous position at Twitter, he oversaw its business in India and subsequently in new markets worldwide based out of Twitter's headquarters in San Francisco. He advocates for greater involvement of women to make social media and digital technology platforms more diverse and inclusive. Manish has previously served on the Governing Council of the Internet and Mobile Association of India (IAMAI), India's leading policy body for internet companies.

Manish is an MBA from the Wharton Business School.

 

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Netcore announces partnership with Truecaller

The collaboration is expected to save valuable developer hours for the company, apart from the overall improvement in user experience

By exchange4media Staff | Jan 24, 2023 5:16 PM   |   2 min read

netcore

SaaS company Netcore Cloud has been onboarded by Caller ID and Spam blocking service, Truecaller. Netcore Cloud’s Contextual Nudges & Walkthroughs are expected to largely enhance the app experience of users.

Netcore Cloud’s Contextual Nudges & Walkthroughs are the customized navigators that ensure your user is not lost in the mobile app. It offers positive reinforcement and direct/indirect suggestions toward the next step by the user. This enables the brand to guide the user to the most suitable experience at the right time without any delay. Truecaller serves a heterogenous global market and this collaboration will help improve their app’s user experience.

Ramesh Srinivasan, CEO - India Business, Netcore Cloud, “Our Contextual Nudge & Walkthroughs have been gaining immense popularity among brands as they look to provide hassle-free experience to customers in their buying journey. We are confident that Truecaller users will witness further value in their app experience as a result. Furthermore, our No-Code Product Experience platform will help them save valuable developer hours.”

Raj Mukherjee, Head of Global CRM, Truecaller, “We are excited to partner with Netcore Cloud to strengthen our customer engagement. Communication with consumers needs to happen at the right frequency, right time, with the right message, and in the right context. We believe our collaboration with Netcore Cloud will help us achieve this by providing customers a seamless in-app experience that will be easy and context-aware; we are expecting lift in usage and retention through this.”

Netcore's Contextual Nudges & Walkthroughs have been seeing growing popularity among leading brands in the last few years. Major brands including Wakefit.co, Gradeup, redBus and Mobile Premier League have been actively using this platform and benefiting from it.

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‘Creating a bridge among digital, TV and print is the real challenge’

At e4m-DNPA Future of Digital Media Conference, experts discussed the opportunities and challenges of digital publishing in India

By exchange4media Staff | Jan 24, 2023 4:42 PM   |   4 min read

dnpa panel

At the e4m-DNPA Future of Digital Media conference, leaders from different media houses came together to participate in a panel discussion on ‘digital publishing in India: Challenges & opportunities’.

Jaideep Karnik, Head of Content and Editor, Amar Ujala Web Services Private Limited; Prasad Sanyal, Chief Content Officer, HT Digital;  Sanghamitra Majumdar, Editor, ABP Live, English (Digital); and Nandagopal Rajan, Editor, New Media, Indian  Express, were on the panel. The session was chaired by Deepak Ajwani, Editor, ET Online.

Ajwani opened the discussion asking panellists about the difficulties and opportunities in the era of integrated newsrooms.  Karnik shared, “Currently at Amar Ujala, what we are doing is creating bridges. We have a newspaper legacy which is 75 years old and then we have digital, where we were early movers and have adapted to the new-age technology very fast. But then we always have to create bridges. All the experiments that have happened across the world suggest that you cannot just collapse all the walls and create an integrated newsroom. There is no miracle that can make it happen because the output demands of newspaper, television and the digital homepage and the entire website are very different. So, you will have to train journalists to get accustomed to these needs. It is going to be very challenging where you have to take the legacy of a 75-year-old news brand which is already into print, where there is appointment reading, along with digital where there is less of appointment reading and more of discovery and accidental finding of your content. Creating a bridge between these two is the real challenge.”

Rajan too shared how at the Indian Express, they sat together, and how they owned the responsibility to build an integrated newsroom and actually broke the wall.

Majumdar shared her experience saying, “It is very difficult to have a synergy between digital and TV because storytelling format is different and the information is coming in a different way, so we all have that challenge of making text stories out of videos. But it is helpful in the case of breaking news, live vlogs, videos, and audios.” 

Sanyal feels that a level of integration is necessary in digital operations in any case. He said, “News is format agnostic, it needs to be packaged right for different platforms’’.

On asking about the challenges chatgpt can give to the newsrooms, Sanyal replied, “How do you use AI is a challenge. To my mind, you should use chatgpt as a tool, much like you use a word editor or a spell check. You do have human intervention.”

Ajwani then asked if because of using chatgpt, all newsrooms may end up having the same content.

Said Rajan, “I think chatgpt is a huge opportunity, at least for traditional media houses like us. There can be a logo saying that there is absolutely no AI involved in the creation of this content and that can be a differentiator for us because there will be a lot of people who will have to fall back on AI to create the content. At least we, who have invested in people, will have this opportunity that our content will be different as it will created by humans. The way to use AI would be, where we are really struggling, to bring in personalisation. Content delivery is a huge challenge for us. How do you show the right content to the right person at the right location at the right time? I think that is where AI should really help us.”

Talking about the transitions in news mediums, Sanyal said, “Brevity has always been a key weapon in any journalist’s arsenal.”

Jaideep said that people choose the format of the news content according to their needs and interests, be it a 40- word story or a 300-word story. Same is in the case of audio and video news consumption, he mentioned.

 

 

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Microsoft to invest $10 billion in OpenAI

As per reports, Microsoft CEO Satya Nadella has termed the partnership with OpenAI a 'shared ambition'

By exchange4media Staff | Jan 24, 2023 8:29 AM   |   1 min read

openAI

Microsoft has decided to invest $10 billion in Open AI, which has been in news for its Artificial Intelligence tool ChatGPT, say media reports.

This will be Microsoft's third investment in OpenAI - after 2019 and 2021.

According to Microsoft CEO Satya Nadella, the partnership with OpenAI is a "shared ambition to responsibly advance cutting-edge AI research".

Nadella recently announced that ChatGPT will soon be coming to MS Azure’s Open AI Service.

Businesses will now be allowed to incorporate the ChatGPT into their programmes and applications as per their needs.

The announcement was viewed as Microsoft’s first step toward making ChatGPT available on its bouquet of platforms, including Bing.

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