“Our state-of-the-art technology, rigorous screening processes and sophisticated algorithms ensure that less than 0.5 per cent of our members encounter cases of misuse” ADHISH ZAVERI, VP Marketing, Shaadi.com “We have recently updated our bullying and abusive conduct policies to prohibit doxxing and the malicious sharing of personal information, and the rules to discourage no-show behaviour” SAMARPITA SAMADDAR, Communications Director India & Southeast Asia, Bumble to detect comments and images that go against our guidelines even before users report them.” Similarly, Dev of Tinder says the platform continues to invest in safety and has updated its AI functionalities. The ‘does this bother you?’ feature has helped increase reporting of harassment by 46 per cent and the ‘are you sure?’ feature has helped reduce potentially harmful messages sent by 10 per cent. “We have recently partnered with acclaimed actor Vidya Balan to raise awareness about scams fraudsters employ. Upon receiving a user report, we suspend the account and block further registrations from the same individual. An email is sent to all individuals contacted by the fraudster, alerting them about the situation. In addition to these efforts, while maintaining client confidentiality, we undertake identity, salary, and education detail verification for added security,” says Matrimony.com’s Bhatia. A plus with matrimonial sites is that people who want to get married sign up. These folks are not interested in dating first, they are either done with dating, or are not interested in dating, and just want the ‘I do’. Some people on matrimonial sites usually have more of a say and drive the process themselves, but eventually, it is still a family led affair. Reports suggest the matchmaking market is expected to reach a market volume of US$ 297.10 mn this year. “Over the last three years, as a platform, we have grown 20 per cent”, says Arjun Bhatia, Chief Marketing Officer, Matrimony.com. Don’t Rush In It doesn’t matter if you pick the dating app or the matrimonial site, you must be cautious. Over the last few years there have been multiple reports of people getting catfished and even duped out of money. Like any digital platform, these dating and matrimonial sites too are an attractive space for fraudsters. While these platforms are upgrading their security features and are trying hard to keep their users safe, you must take every possible step to keep yourself safe. Talking about the security features on Bumble, Samarpita Samaddar, Communications Director India & Southeast Asia, says, “We have recently updated our bullying and abusive conduct policies to prohibit doxxing and the malicious sharing of personal information, and the rules to discourage no-show behaviour. We also have strict policies related to victim blaming or shaming. Further, we use automated safeguards 27 January 2024 | B W BUSINESSWORLD | 101
“The Government of India has passed the Digital Personal Data Protection Act, 2023. This Act is about to come in place” PAVAN DUGGAL, Advocate, Supreme Court of India under the purview of the Act. While these laws cover a broad spectrum of cyber offenses, challenges in awareness, enforcement and technological advancement are the major issues we currently face in India,” says Mini Gupta, EY India Cybersecurity Consulting Partner. Pavan Duggal, Advocate, Supreme Court of India and renowned cyberlaw expert says, “The Government of India has passed the Digital Personal Data Protection Act, 2023. This Act is about to come in place. Once it does, online dating apps and matrimonial websites will have to ensure compliance or could potentially be fined up to Rs 250 crore rupees per contravention.” He added that the government must come up with specific new parameters for improving security of online dating apps and matrimonial websites. This can be done by coming up with secondary rules and regulations under Section 87(2) read with Section 79 of the Information Technology Act, 2000. While the sites and the government are doing their bit, you must too. Don’t rush the process, spend time with your chosen one, really get to know each other’s thought process and finally, get married or get into a relationship for the right reason – for love. [email protected] “Over the last three years, as a platform, we have grown 20 per cent” ARJUN BHATIA, Chief Marketing Officer, Matrimony.com Adhish Zaveri the VP Marketing at Shaadi.com, another popular matrimonial platform, says, “Our state-ofthe-art technology, rigorous screening processes and sophisticated algorithms ensure that less than 0.5 per cent of our members encounter cases of misuse.” One must research the prospective match thoroughly. Further, basic measures like not sharing personal and financial information are a must when dealing with strangers. In the unfortunate circumstance of getting duped, law enforcement should be notified at the earliest. “Along with the Indian Penal Code regulating all other crimes, the existing Information Technology Act 2000 facilitates lawful digital, electronic, and online transactions with the objective of preventing cybercrimes. Romance scams are cybercrimes and remedies can be sought 102 | B W BUSINESSWORLD | 27 January 2024 IN DEPTH LIFESTYLE
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104 | B W BUSINESSWORLD | 27 January 2024 BW Disrupt, in association with BW Businessworld, hosted the Founder’s Forum, an exclusive platform aimed at bringing together professionals and organisations from diverse sectors of the startup ecosystem BW DISRUP T 40 UNDER 40 PHOTO ES SAY Riding High On Success Panel Discussion 1 (L to R): Nalin Saluja, Co-founder and CTO, Virohan; Pawan Gupta, Co-founder and CEO, Betterhalf.ai; Arjun Gupta, Founder and CEO, Smart Joules; Akshay Verma, Co-founder, Fitpass and Arjun Yadav, Senior Correspondent, BW Businessworld. In a fireside chat (L to R): Dr Annurag Batra, Chairman & Editor-in-Chief, BW Businessworld Group and Founder, exchange4media Group and Aman Gupta, Co-founder, Boat discuss the code to developing a sustainable business in the era of cut-throat competition. Photographs by Naval Kishor
105 | B W BUSINESSWORLD | 27 January 2024 Panel Discussion 2 (L to R): Ankita Jain, Co-founder and CMO, GoPaisa; Sourabh Deorah, Co-founder and CEO, AdvantageClub; Vinit Garg, Founder and CEO, Mylo; Mayank Gupta, Co-founder and COO, Zopper and Reema Bhaduri, Editorial Lead, BW Marketing World. Panel Discussion 3 (L to R): Amit Sinha, Co-founder, Unnati Agri; Ankit Mehta, Co-founder, IdeaForge; Laurent Samandari, Cofounder & CEO, L’Opera and Jyoti Khetanpal, Entrepreneur-in-Chief (Founder), Briskcheck Solutions. Panel Discussion (L to R): Sudhir Mishra, Founder, Trust Legal; Gagan Anand, Founder, Scuzo Ice ‘O’ Magic; Paridhi Sekhri, Co-founder, TidyUp and Udita Bansal, Founder, Truebrowns Lifestyle.
106 | B W BUSINESSWORLD | 27 January 2024 Panel Discussion (L to R): Soumya Sehgal, Senior Editorial Lead, BW Marketing World; Raul Rai, Co-founder, Nicobar; Akash Agarwal, Co-founder, ZOFF Foods; Vikas Bagaria, Founder, Pee Safe; Punit Gupta, Founder & CEO, Clensta and Himanshu Adlakha, Co-founder, Winston. Panel Discussion (L to R): Resham Suhail, Editorial Lead, BW Disrupt; Rehan Khan, Managing Partner, Orios Ventures; Siba Panda, Founder & Managing Partner, ValueAble; Ritesh Malik, Angel Investor & Founder, Innov8 and Nandini Mansinghka, CEO, Mumbai Angels. Panel Discussion (L to R): Dr Annurag Batra, Chairman & Editor-in-Chief, BW Businessworld Group & Founder, exchange4media Group; Deepti Prasad, Co-founder & CMO, Spyne.ai; Shahan Sud, Senior Investment Manager, JAFCO investment (Asia Pacific); Bhavik Vasa, Founder & CEO, GetVantage; Anirudh Singla, Founder & CEO, Pepper Content and Vasudevan Chinnathambi, Co-founder, Ninjacart. BW DISRUP T 40 UNDER 40 PHOTO ES SAY Spotlight Session: Pranav Chaturvedi, Founder, Favcy Venture Builders shares his insights on ‘Founders’ Mantra For Creating Wealth To Get More, Give More’.
107 | B W BUSINESSWORLD | 27 January 2024 “If a product is in search of customers scattered all over the place, it will take a lot of money to communicate and deliver the product; in the end, one may not even make money” HARIT NAGPAL on his latest book, Adapt: To Thrive, Not Just Survive, the way ahead for the OTT industry, and more Basics Don’t Change LAST WORD HARIT NAGPAL,MD & CEO, Tata Play and anywhere in the world have learned to thrive. Look at businesses in India. Name any service that has remained the same compared to the previous year. New features are being added, and the pace of adding new features has increased. Telecom, media, airlines, mobility, retail – compare what these sectors offered a year ago and what they have today. This can’t be true for every operator in every industry, but one or two operators in every industry are changing much more rapidly than they were in the past. Customer Segmentation Over the years, I have observed many products or technologies searching for customers. The ideal way is to figure out what the pain points of the customers are and then go on to create a product or service for that segment. Every business’ purpose is to make money. If a product is in search of customers scattered all over the place, it will take a lot of money to communicate and deliver the product; in the end, one may not even make money. It is always better to figure out the benefit of the product being sold and ask whether these customers will pay the money being asked of them. Reviews Should Not Punish The purpose of business reviews should be to identify opportunities for the future. Do not use the reviews to punish those who failed in the past. One cannot rewrite history. We cannot control the past. Most of the time, reviews are trying to figure out who made a mistake and where one went wrong. It is essential, but what is more important is finding the opportunity. If we bring about this change, reviews will be much more productive. OTT Aggregators When a new technology or platform emerges, the older ones don’t die. They coexist. Every platform continues to grow. As many OTT apps come up in the media space, they will need an aggregator, just like TV channels got cable and DTH operators. So, there will be OTT aggregators because, in the end, the customer has to find it easy to discover the content they want to watch, which is where this industry is headed. As told to Dr Annurag Batra For the six industries I have worked in, I was always told that the world and the basics are changing. The reality is that basics do not change. Basics are basics. That is why they are called basics and don’t change with time. My book reminds people that the basics remain constant, the environment changes, and we must adapt to them. Also, a changing environment or disruption is not a threat. A good businessperson starts looking around at opportunities in a disruption. One should always ask if a disruption is happening around them, how do they catapult their business using that disruption as an opportunity? Survive and Thrive The quality of human life is changing and improving with every passing year. Humans have learned to survive and thrive in a changing environment akin to a chameleon. Businesses in India Photograph by Naval Kishor
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