Skoda reaches milestone of 300 customer touchpoints in India
The Kylaq has been instrumental in driving koda Auto's growth in India by attracting new customers in previously untapped markets, which are now being reached through the brand's expanding network. Other products such as the Kushaq, Kodiaq, and Slavia, also contributed in driving its success in India. The brand's SUV offerings, combined with its sedan legacy, cater to diverse customer preferences.To further enhance customer satisfaction, Skoda Auto India offers complimentary Skoda Supercare maintenance packages for the first year, ensuring owners incur no routine service expenses until the end of the second year or 30,000 km, whichever comes first.Skoda Auto India continues to build on its legacy, leveraging local partnerships and a customer-first approach to solidify its position in one of the world's most dynamic automotive markets.Subscribe to Auto Today Magazine- Ends
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Economic Times
42 minutes ago
- Economic Times
CoinDCX resumes withdrawals after $44 million security breach, assures user funds are safe
Mumbai: India's crypto exchange CoinDCX has opened withdrawals on its platform and asserted that no user funds were affected after it suffered a $44 million (~₹300 crore) security breach on its platform last month, cofounder and CEO Sumit Gupta told ET. ADVERTISEMENT "For us retaining the users trust and ensuring that their funds were 100% safe was our topmost priority. We ensured that all customer withdrawal requests were honoured and there was no impact on the functioning of platform," Gupta said. "This was our wake-up call. The attack was not on our core systems but on a third-party service we used for wallet management. Still, we take full responsibility." Post the incident, the platform has not only arrested investor churn but also recorded its highest-ever monthly trading volume, he said. Gupta also pushed back against media speculation around a possible $900 million acquisition by global exchange Coinbase, asserting that CoinDCX is on path to be India's first crypto decacorn (valued at $10 billion) and such "petty" valuations do not justify the company's growth trajectory. "Our annualised revenue today stands at ₹1,179 crore and we have nearly ₹10,000 worth of crypto assets under custody across products," Gupta said, adding that the company's current valuation must be more than $2 billion. ADVERTISEMENT "We hold 80% market share among India's centralised exchanges. But this is just scratching the surface. Once the Indian government brings an official crypto policy, we could easily achieve decacorn status within a year," he said. (You can now subscribe to our ETMarkets WhatsApp channel)
Time of India
an hour ago
- Time of India
CoinDCX resumes withdrawals after $44 million security breach, assures user funds are safe
Mumbai: India's crypto exchange CoinDCX has opened withdrawals on its platform and asserted that no user funds were affected after it suffered a $44 million (~₹300 crore) security breach on its platform last month, cofounder and CEO Sumit Gupta told ET. "For us retaining the users trust and ensuring that their funds were 100% safe was our topmost priority. We ensured that all customer withdrawal requests were honoured and there was no impact on the functioning of platform," Gupta said. Explore courses from Top Institutes in Please select course: Select a Course Category Finance PGDM Data Science MCA Cybersecurity Degree Public Policy Technology Product Management healthcare Artificial Intelligence Healthcare Data Analytics Management Operations Management CXO others Project Management Leadership Design Thinking MBA Digital Marketing Others Data Science Skills you'll gain: Duration: 9 Months IIM Calcutta SEPO - IIMC CFO India Starts on undefined Get Details Skills you'll gain: Duration: 7 Months S P Jain Institute of Management and Research CERT-SPJIMR Fintech & Blockchain India Starts on undefined Get Details "This was our wake-up call. The attack was not on our core systems but on a third-party service we used for wallet management. Still, we take full responsibility." Crypto Tracker TOP COIN SETS Crypto Blue Chip - 5 -4.79% Buy Web3 Tracker -10.47% Buy DeFi Tracker -12.39% Buy NFT & Metaverse Tracker -13.74% Buy AI Tracker -14.67% Buy TOP COINS (₹) XRP 261 ( 7.51% ) Buy Ethereum 309,245 ( 4.14% ) Buy Solana 14,343 ( 3.09% ) Buy BNB 66,066 ( 2.72% ) Buy Bitcoin 10,018,394 ( 1.81% ) Buy Post the incident, the platform has not only arrested investor churn but also recorded its highest-ever monthly trading volume, he said. Did you Know? The world of cryptocurrencies is very dynamic. Prices can go up or down in a matter of seconds. Thus, having reliable answers to such questions is crucial for investors. View Details » Gupta also pushed back against media speculation around a possible $900 million acquisition by global exchange Coinbase, asserting that CoinDCX is on path to be India's first crypto decacorn (valued at $10 billion) and such "petty" valuations do not justify the company's growth trajectory. Live Events "Our annualised revenue today stands at ₹1,179 crore and we have nearly ₹10,000 worth of crypto assets under custody across products," Gupta said, adding that the company's current valuation must be more than $2 billion. "We hold 80% market share among India's centralised exchanges. But this is just scratching the surface. Once the Indian government brings an official crypto policy, we could easily achieve decacorn status within a year," he said.
Mint
an hour ago
- Mint
Amazon Music strikes a new chord with podcasts, Prime and Alexa to stand apart
Audio streaming business continues to struggle in India, as most platforms offer similar music catalogues, lacking in novelty or innovation and failing to drive subscriptions. Amid a sea of soundalike tracks, Amazon Music is striking a new chord to soar above the noise. It is following a three-pronged approach to stay more relevant than the others. It is offering a completely ad-free experience that doesn't charge customers separately and is part of the Amazon Prime bundle along with video and shopping, a top company official said. It is also producing a range of exclusive podcasts and video content with artistes in addition to songs. And finally, it aims to benefit from the Amazon consumer tech ecosystem, including Fire TVs and Alexa devices that can help improve the listening experience. 'For us, the differentiation (from other players) comes from the fact that we are an ad-free, on-demand product. We're not charging customers separately because it's all within the Prime bundle," Rishabh Gupta, country head, Amazon Music India, said in an interview. 'On the content side, we do a lot of exclusive podcasts and bring fans closer to artistes via video IPs (intellectual properties)." As far as local languages go, the platform hosts content in 20-plus languages, with Hindi, English, Tamil, Telugu and Punjabi forming the top five, Gupta added. On the Android app, the user interface supports nine languages. The platform that has seen engagement surge since the pandemic. Gupta said that podcast customer listening hours are up 22% over 2024. While Hindi remains its most streamed language with an 84% customer spread, followed by English and Punjabi at 63%, Tamil and Telugu are witnessing strong growth, too, driven by curated regional playlists and improved discovery features. Gupta said the service is fully committed to being seen as a part of the Prime bundle and has witnessed great traction among consumers, in turn, helping the Prime program (including video and shopping) significantly. 'People who use multiple benefits have been some of our longest-serving Prime customers," Gupta added. As a DSP (distribution service provider), Gupta said the platform doesn't necessarily dictate as to what content needs to be produced. However, besides the music catalogue that comes via acquisitions from both from the film and non-film genres, Amazon Music is creating some of its own video and editorial IPs. This shoulder content, ranging from 2 to 20-minute videos, touches upon themes like what may be going on in an artiste's mind before going on stage at a concert, and so on. Further, while the platform is open to all kinds of podcasts, it targets some exclusive and early access deals as well. Podcast content now makes up approximately 15% of total user engagement on the platform. To be sure, the audio business in India, across regions and languages, is facing its share of challenges. Film producers, independent artistes and music labels are grappling with the shutdown of multiple streaming platforms, including Airtel's Wynk, ByteDance's Resso and Hungama Music, which failed to crack the paid subscription model. Others, such as Spotify, have halved per-stream payouts. Despite a rich musical heritage and wide consumption across the country, the Indian music segment declined by 2% to ₹5,300 crore in 2024, according to the annual Ficci EY media and entertainment report. Digital revenue, the biggest chunk of the segment, fell from 68% of total revenue in 2023 to 62.4% last year. The Indian music industry recorded 192 million free streamers in 2024, as compared to 12 million paid streamers, reaffirming that platforms have been forced to depend heavily on advertising revenue. However, Gupta is optimistic. 'India is an evolving country and a growing market for all kinds of businesses, including music, which is currently at the centre stage of the art and culture landscape. The space is constantly evolving with developments in technology and marketing, not to mention a continuous endeavour to grow bigger and better," Gupta said. 'As a country, we've advanced exponentially—just see how easy it is to make digital payments today and compare it to how it was three to four years back when we were all cash dependent. And while this has nothing to do with the music industry, it has aided the subscription economy, not just for the music industry, but for video-on-demand and everything else. So, every few years we see a new addition, mostly a better one, to the existing norms and processes that suddenly drive some sort of hockey stick growth for the industry, and I think for music, it's probably just around the corner," he added.
