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Magicpin Plans to Expand its Services both in India and Abroad

Following its latest launch of services in the Indonesian capital of Jakarta, the company would also look into possibilities of increasing its footprint

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Magicpin, Services, India
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.

Magicpin, Services, India
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.

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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)

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Social Video app TikTok Reaches 1.5 Billion Downloads Worldwide

To recall, TikTok crossed the 1 billion downloads milestone in February 2019, taking just under nine months to generate a further 500 million installs

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TikTok
The logo of the TikTok application is seen on a screen in this picture illustration taken Feb. 21, 2019. VOA

Social video app TikTok has reached 1.5 billion downloads worldwide on the App Store as well as Google Play and India leads the chart with 466.8 million or about 31 per cent of all unique installs.

In 2019, the app accumulated 614 million downloads — six per cent more than it had last year, reported mobile intelligence firm Sensor Tower.

India has been a fast adoptor in 2019, driving up 277.6 million downloads so far this year, or roughly 45 per cent of all global installs.

China generated the second largest amount of downloads with 45.5 million, or 7.4 percent, while the US is No 3 with 37.6 million installs, or about 6 per cent, this year.

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TikTok has over 54 million monthly active users (MAUs) in India. Pixabay

The figure does not include installs from third-party Android stores in the country, said Sensor Tower.

TikTok with 614 million downloads currently is the third-most downloaded non-gaming app of the year, behind WhatsApp at the top with 707.4 million installs and Facebook Messenger at second spot with 636.2 million.

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Facebook is fourth with 587 million downloads and Instagram at fifth spot with 376.2 million.

To recall, TikTok crossed the 1 billion downloads milestone in February 2019, taking just under nine months to generate a further 500 million installs. (IANS)