Latest news with #PocketFM
Mint
6 days ago
- Business
- Mint
Startups prep for exits as Chinese backers find little love
Udaan, Pocket FM and Vedantu have joined the league of startups looking to offer exits to their Chinese backers as the industry's appeal to ease restrictions on such investments has failed to secure a policy shift, according to four people familiar with the matter. Udaan and Pocket FM count Tencent among their investors, while Vedantu's Chinese backers include Legend Capital and the TAL Education Group. There has been a recent spike in discussions around Chinese investors looking to pull out, several Indian investorsMintspoke with confirmed separately. 'We can expect more block deals within listed startup entities as well, as Chinese investors don't want to stay invested given the current geopolitical scenario," said one of the investors. This shift is more visible in highly regulated sectors such as gaming and fintech. The people and investors quoted earlier spoke withMint on the condition of anonymity. In recent months, Antfin have exited or trimmed stakes in firms like Paytm and MakeMyTrip. Last year, Tencent sold its stake in Dream11 parent Sporta Technologies Ltd to Singapore-based Tiga Investment Pte Ltd for $150 million, as the gaming unicorn sought to comply with regulations on Chinese investments. This wave of exits and stake sales follows a long wait among Indian founders, who anticipated that the government may ease rules governing Press Note 3 (PN3)—the 2020 pandemic-era notification that placed investments from neighbouring countries under a more stringent approval route. The move was largely aimed at curbing inflows from China after a deadly clash between Indian and Chinese soldiers in Ladakh's Galwan valley. 'Many (Chinese) funds, and even some board directors, have stepped back," said Rajat Tandon, president of the Indian Venture and Alternate Capital Association (IVCA), a key industry body. 'The entire wind-up of Chinese funds has happened. While their investments in Indian startups still exist, those startups are now actively exploring exit mechanisms." A spokesperson for Tencent said the firm has no plans to exit and remains committed to its investments in India. 'The information regarding Tencent is purely speculative, and we have no comments to offer on it. Pocket FM remains a high-growth company with strong investor confidence and continues to engage with several global investors," a spokesperson for Pocket FM said as the company looks to raise $100 million. Queries emailed to Vedantu, Udaan, Legend Capital and TAL Education Group did not elicit a response at the time of publishing. Some of these companies are struggling to raise successive rounds of capital as the funding tap dried from the pandemic highs, which has now led to investors chasing fewer startups with a profit-oriented mindset and strong fundamentals. Several Chinese investment firms may also offload stakes through initial public offerings of startups as a part of the offer-for-sale component. For instance, Hong Kong-based Hillhouse Capital, alongside other investors, is expected to sell some stake in CarDekho when the company goes public, Mint exclusively reported in September last year. Shrinking Chinese exposure From 2005, close to $16.8 billion in funding has been channelled from China into India, according to China Global Investment Tracker by public policy think tank American Enterprise Institute. Tencent has been among the most active Chinese investors in India, backing firms including Swiggy, Byju's, Dream11, Udaan, and PolicyBazaar. Shunwei Capital has invested in ShareChat, Meesho, Pratilipi, Koo, and Cashify, among others. The investor has reportedly exited Pratilipi and Koo. Alibaba, through Ant Group, had stakes in Paytm and Zomato, which have since been pared down. Hillhouse Capital has backed Zomato and Koo, while Qiming Venture Partners has invested in Pratilipi, partially exiting a few months ago. Since PN3 came into effect, new Chinese investments in India have plunged. From 17 deals worth $5.2 billion in 2021, the number fell to 10 deals worth $780 million in 2022. While this drop reflected the broader slowdown in funding post-2022, the contrast has become starker more recently. Overall, private equity and venture capital funding is showing signs of recovery. Indian startups raised $17.1 billion between January 2024 and June 2025. Yet, Chinese participation has continued to shrink, recording only five deals worth $317 million during the 18-month period, indicating a strategic retreat. What it means The PN3 restrictions not only apply to direct investments but also slow down approvals for Chinese investors acting as limited partners (or LPs) in domestic funds, or to global funds with Chinese exposure, affecting recent deals. LPs are investors who pool in capital but are not involved in managing funds. 'About 85% of the capital in India currently is international. Chinese money, in particular, was quite significant at one point, with a lot of capital ready to be deployed. Now, most Chinese investors have exited. Only a small, single-digit percentage remains," said Tandon. He said IVCA had formally requested the government to limit PN3 to general partners or fund managers, given that LPs typically do not influence fund deployment. 'Since LPs don't play an active role, the PN3 framework should focus on general partners (GPs who manage funds), with all necessary background checks done on fund managers. That's the request we've submitted," he said. Apart from that, IVCA has also sought amendments like defining beneficial ownership (ultimate investor) using a '10% threshold" in line with Indian laws, introducing a 'green channel" for low-risk cases such as repeat investments, listed funds not controlled by land-border countries, and 'minority, non-controlling stakes below 25%". It has also recommended a '45–60 business day" timeline for PN3 approvals to reduce deal uncertainty, he said. Part of this shift stems from the disadvantages startups face when Chinese investors remain on the cap table. 'Any further fundraises by Indian startups from existing Chinese investors remain a challenge, which can materially affect their business plans and growth prospects," said said Vaibhav Kakkar, senior partner at Saraf and Partners. 'Apart from the regulatory hurdles posed by PN3, companies with Chinese ownership may also face negative perception among regulators and the public." The retreat, however, also results in the loss of certain advantages. 'Chinese tech majors historically brought patient capital, playbooks on super-apps, social commerce and embedded fintech, and access to low-cost hardware supply chains—advantages that helped Indian startups," said Siddharth Mody, partner at JSA. While the uncertainty around having a Chinese investor in the cap table complicates follow-on rounds, domestic regulatory pressure and a weaker yuan have also prompted Alibaba's Ant, Tencent and others to monetize offshore bets and repatriate cash, Mody said, emphasising that these factors have made the past year an opportune window for Indian founders to negotiate exits. The vacuum left by the Chinese capital is already being filled. 'For instance, Gulf sovereign-wealth funds such as ADIA have set up dedicated India vehicles worth US$4-5 billion each and are underwriting late-stage rounds, while North-American cross-over funds and large domestic family offices are increasingly active," said Mody '…Importantly, these new investors (non-Chinese/not sharing a border with India) are generally free of PN3 constraints, allowing quicker closings."
India Gazette
10-07-2025
- Entertainment
- India Gazette
Delhi HC restrains Kuku FM from streaming new episodes amid Pocket FM's copyright lawsuit
New Delhi [India], July 10 (ANI): The Delhi High Court on Thursday restrained audio platform Kuku FM from airing new episodes, acting on allegations of copyright and trademark infringement raised by rival Pocket FM. Pocket FM has filed a lawsuit seeking 10 million dollars (approximately Rs 80 crore) in damages, alleging over 30 instances of unauthorised copying by Kuku FM. The order was passed by Justice Saurabh Banerjee, who directed Kuku FM not to release any further episodes of the contested shows and to submit details related to the content in question. Senior Advocate Amit Sibal, appearing for Pocket FM and briefed by law firm Shardul Amarchand Mangaldas, argued that Kuku FM had engaged in 'wholesale and systematic copying' of Pocket FM's original content, including show titles, characters, posters, and entire storylines. He emphasised that Pocket FM had spent years developing a robust content strategy, which Kuku FM was now exploiting for unfair commercial gain. Among the examples presented, Sibal pointed out that Kuku FM had replicated Pocket FM's popular show Shoorveer, including the use of an almost identical poster, indicating clear and deliberate imitation. In another instance, Kuku FM allegedly uploaded full episodes of Insta Millionaire, retaining Pocket FM's branding in the voiceover, instructing listeners to log in to the Pocket FM app. To preserve key evidence, Pocket FM has also sought the appointment of a local commissioner to inspect Kuku FM's platform and prevent tampering. Sibal further argued that despite facing multiple lawsuits in the past, Kuku FM continues to copy content without any justification or corrective measures. In response, Kuku FM's counsel, Advocate Saikrishna Rajagopal, contended that the shows had been available on its platform since June 2024 and claimed that Pocket FM's legal action was delayed. He argued that the plaintiff had not made a clear case for urgent interim relief. Nevertheless, the Court restrained Kuku FM from airing new episodes and listed the matter for further hearing on August 29. (ANI)
Time of India
10-07-2025
- Entertainment
- Time of India
Delhi HC bars Kuku FM from streaming disputed shows in Pocket FM copyright case
The Delhi High Court has barred Kuku FM from releasing new episodes of five series allegedly infringing Pocket FM 's content until the next hearing. The court has also directed Kuku FM to provide full details of the disputed shows. The matter has been adjourned to 29 August. Pocket FM has filed a civil suit against Mebigo Labs , the parent company of Kuku FM, alleging repeated infringement of its intellectual property. The allegations include copyright infringement, passing off of trademarks, unfair trade practices, tortious interference, and inducement to breach contracts. Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track default , selected Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Senior Living Homes in Sakoli May Surprise You Senior Living | Search Ads Undo The company is seeking damages of Rs 85.7 crore and has requested the appointment of a local commissioner to preserve evidence and investigate the alleged violations. Pocket FM has claimed that Kuku FM has systematically copied its shows over the past four years, despite prior legal actions. It has highlighted alleged infringement of five audio series, Super Yoddha , Insta Empire , Amrapali, Vashikaran, and The Immortal Warrior. Live Events It has also accused Kuku FM of using similar show titles, episode names, and, in one instance, an identical poster for Shoorveer, allegedly designed to mislead listeners and capitalise on Pocket FM's brand reputation. Senior advocate Amit Sibal, appearing for Pocket FM along with law firm Shardul Amarchand Mangaldas, argued that Kuku FM has engaged in 'wholesale infringement' by replicating core creative elements such as themes, characters, and story arcs. In May 2025, Pocket FM filed a separate case in the Delhi High Court against Kuku FM for allegedly pirating its show Insta Millionaire. Sibal told the court that in that case, which resulted in an injunction order on 30 May, Kuku FM had 'bodily lifted' the show. The copying was so blatant, he said, that episodes on Kuku FM's platform ended with the line: 'aage ki kahani jaane ke liye, log in kariye Pocket FM par' (to know the rest of the story, log in to Pocket FM). Calling Kuku FM a 'habitual infringer,' Sibal emphasised the repeated and deliberate nature of the alleged conduct, describing it as 'systematised and extensive'. Pocket FM is seeking a permanent injunction to restrain Kuku FM from using its content, destruction of the infringing material, and an award of damages and legal costs. Pocket FM and Kuku FM are Indian audio streaming platforms that offer spoken-word content such as audiobooks, audio series, and podcasts in multiple Indian languages. Both target regional-language listeners across India and compete in the growing audio content market.
Hans India
11-06-2025
- Business
- Hans India
India's AI Market Set to Triple to $17 Billion by 2027, Emerging as one of the fastest-growing AI economies globally: BCG Report
Artificial Intelligence (AI) is no longer confined to pilots and proof-of-concepts—it is redefining how Indian businesses compete and scale. A new report by Boston Consulting Group (BCG), titled 'India's AI Leap: BCG Perspective on Emerging Challengers', explores how Indian enterprises across sectors are moving from experimentation to measurable value creation. The report highlights how AI is driving not only operational efficiency, but also market expansion, faster decision-making, and innovation-led growth. India's AI Inflection Point: Talent, Infrastructure, and Scale: India's domestic AI market is backed by a thriving ecosystem of 600K+ professionals today, expected to grow to 1.25 million. Public digital infrastructure - including Aadhaar, UPI, and ONDC, combined with rising enterprise investment, has created fertile ground for scalable AI innovation. Key enablers to this include: Data Scale with over 700M internet users, Infrastructure growth, and a surge of AI Start-ups with ~2000 launched in past 3 years. AI in Action: The report spotlights how AI is delivering measurable impact through the lens of four market leaders—Razorpay (Fintech), Lenskart (Consumer), Pocket FM (Media & Entertainment), and NoBroker (PropTech). These companies are using AI to streamline operations, personalize user experiences, and unlock new revenue streams. From automating 80% of customer support at Razorpay to cutting content production costs by 80% at Pocket FM, and enabling smart property management at NoBroker, these case studies show how Indian innovators are moving beyond pilots to scale—transforming their industries with data-driven speed, precision, and growth. Scaling AI: From Pilots to Business Capability: The report outlines a clear roadmap for companies looking to scale AI: BCG's 70/20/10 Framework: 70% of success comes from people, organization, and process—not just technology. Five Enablers: Cross-functional ways of working, modern tech stack, organizational models (e.g., AI CoEs), workforce reskilling, and responsible AI governance. Behavioral Adoption: Nudging users through GenAI adoption with tailored learning paths, emotional curve mapping, and role-specific interventions. 'AI is no longer an option but a business necessity. Indian companies are using it to leapfrog traditional growth curves and compete confidently on the global stage. While the hurdle rate for successful deployment is high, the rewards are even higher, and the results speak for themselves. What separates the leaders is not just the tech, but how they manage change, build talent, and embed AI into the fabric of their organization,' said Mandeep Kohli, Managing Director and Partner, BCG India. Call to Action: India Must Lead, Not Follow: The report concludes with a strong message for Indian business leaders: AI is not a side project—it's the next growth engine. Those who act boldly, invest in scalable data and talent foundations, and partner across the ecosystem will define the next decade of growth—for their companies and for India. Link to the report:
Yahoo
22-05-2025
- Business
- Yahoo
Music Broadcast Ltd (NSE:RADIOCITY) Q4 2025 Earnings Call Highlights: Navigating Growth Amidst ...
Release Date: May 21, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Music Broadcast Ltd (NSE:RADIOCITY) achieved a total revenue of 234 crores, marking a year-on-year growth of 3%. The digital business segment delivered an impressive 36% year-on-year growth, contributing 11% to the total revenues. The company achieved an inventory utilization of 77%, reflecting strong operational efficiency. Radio City continues to lead the industry as a preferred platform for advertisers, attracting 40% of the total client base. The company has diversified revenue streams, with 27% of income coming from various sources including digital ventures and sponsorships. The industry was impacted by global economic uncertainties, adversely affecting market demand and business sentiment. Despite a 3% revenue growth, the overall growth was moderate compared to the industry growth of 2%. Employee costs and other expenses rose sharply by 13% and 16% respectively, impacting profitability. The company reported a one-time impairment of non-financial assets amounting to 34.9 crores. Margins have declined for the full year, with the company aiming to improve them through tighter cost control. Warning! GuruFocus has detected 3 Warning Sign with NSE:RADIOCITY. Q: The industry has grown by 2%, and Music Broadcast Ltd has shown a 3% growth. Is the company considering new business models like Pocket FM? A: (CEO) Pocket FM's revenue figures are not as high as suggested. However, Music Broadcast Ltd has launched a podcast platform called RC Swapper, which distributes content globally. This platform will also aggregate content from other creators, aligning with changing consumption patterns. Q: With 7.40 new clients out of 10.8K total, does this indicate a lack of returning clients? A: (CEO) Historically, 40% of clients are retained, contributing 60-65% of revenue, while 60% are new clients, contributing 35-40% of revenue. This churn is typical in the radio advertising industry. Q: What is the inventory utilization rate, and is it a quarterly or annual figure? A: (CFO) The 77% inventory utilization rate is for Q4, while the annual rate is approximately 78%. Q: How does the company plan to improve margins given the decline in full-year margins for 2025? A: (CFO) The company aims for a close to double-digit growth by maintaining tighter cost control and leveraging digital opportunities, despite industry challenges. Q: What is the company's strategy regarding the shift in consumer media consumption patterns? A: (CEO) The shift affects all media, not just radio. Music Broadcast Ltd is expanding its digital presence to capture opportunities beyond radio, aiming to tap into a larger advertising market while maintaining radio's core strengths. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
