Never miss a story

Get subscribed to our newsletter


×
He said that the company, which caters to offline retail consumers, plans to expand to 200 more towns and cities. Pixabay

Services aggregator and rewards platform Magicpin on Friday said it plans to expand its services both in India and abroad along with including more segments to cater to consumers.

Speaking to IANS, Magicpin Co-founder CEO Anshoo Sharma said that the platform currently has full-fledged operations across 50 Indian cities and is launching operations in another 50 cities.


He said that the company, which caters to offline retail consumers, plans to expand to 200 more towns and cities.

Following its latest launch of services in the Indonesian capital of Jakarta, the company would also look into possibilities of increasing its footprint in Indonesia along with starting operations in other countries.


Speaking to IANS, Magicpin Co-founder CEO Anshoo Sharma said that the platform currently has full-fledged operations across 50 Indian cities and is launching operations in another 50 cities. Pixabay

“We are now live in 50 cities and we have launched the next 50 cities as well. In addition, in September we launched Jakarta, because the India market has been working great. Even that market (Indonesia) is doing very well. Our plan is to continue to go deeper in the country, from 100 to 200 cities to 500 cities,” Sharma said.

“Our model is very technology oriented, we don’t have to have massive physical setup when we enter a new city. As indonesia is building out we will go deeper there, but we will also explore other international markets,” he added.

He further said that the company would also add more categories in its services and has recently added electronics and manufacturing brands as new categories.

“At the same time we want to add more categories. We are adding electronics as a category, we are also adding manufacturing brands. We are working with the likes of ITC and Godrej, who are manufacturing brands,” he said.

Also Read- Night Mode Feature on iPhone 11 Pro Hailed for Low-Light Diwali Photography

The platform announced a first-of-its-kind festival sale — ‘magicpin Diwali Week’ — for offline retail, during October 19-26, across categories like fashion, electronics, grocery, beauty, fitness, among others.

Sharma said that the company plans to reach a Gross Merchandise Volume (GMV) of $1 billion on the back of the sales during the festival sale period. (IANS)


Popular

qz.com

China is cracking down on cryptocurrency

A cryptocurrency is a digital/virtual currency, that is secured by cryptography (study of hiding information). There are over 6,500 cryptocurrencies in existence as of September 2021. The value of cryptocurrency is growing at a quick rate and analysts and experts are still expecting a sharp rise in the value of Bitcoin, the oldest, and most valuable cryptocurrency in the world. however, china doesn't seem to be on board with the idea of digital coins in its economy as it has banned dealing and trading in these digital tokens.

China has taken several decisions to curb the rise of cryptocurrency in its market since 2013 by putting in place increasingly stricter rules on virtual currencies. But on September 17th, China's central People's Bank of China (PBOC) announced that all activities from transactions made in cryptocurrency to crypto mining are deemed illegal including offering trading of digital assets, order matching, token issuance and derivatives. Anyone who's found guilty of being involved with cryptocurrencies and working for overseas platforms from within China will be severely punished. Chinese Government directed the banks to not provide any products or services such as trading, clearing and settlement for cryptocurrency transactions.

Keep Reading Show less
DRDO Twitter

"Akash Prime" was successfully tested by the DRDO by the ITR in Odisha's Chandipur

A new version of the Akash missile- "Akash Prime" was successfully tested by the Defence Research and Development Organisation (DRDO) at the Integrated Test Range in Odisha's Chandipur on Monday at around 4:30 pm. The missile intercepted and tore apart a high-speed unmanned aerial target mimicking enemy aircraft, in its first flight test after all the enhancements.

Akash Prime is equipped with an indigenous active Radio Frequency seeker to accurately locate the enemy aircraft. The upgrade includes an improved, Launcher, Multi-Function Radar and Command, Control and Communication system. The test was carried out amidst bad weather conditions and yet Akash Prime successfully detonated the threat proving the all-weather capability of the weapon system. The improvements also established that the new missile has comparatively more reliable performance under a low-temperature environment at higher altitudes

Keep Reading Show less
Photo by Kelly Sikkema on Unsplash

According to research, virtual learning has been proven to enhance retention of information and take up less time

"Education is the most powerful weapon which you can use to change the world."
-N
elson Mandela


Schools all across the world have been closed as a result of the COVID-19 outbreak. Over 1.2 billion children are out of school across the globe. (Reported by UNICEF). Because of this, education has changed immensely, with the introduction of e-learning, in which tutoring is provided remotely and using various digital platforms. According to research, virtual learning has been proven to enhance retention of information and take up less time, indicating that the changes produced by the coronavirus may be here to stay in the future.

Keep reading... Show less