Startup Street: This Startup Is Coming Up With An Alternative To Facebook
Here’s what went on this week on Startup Street.
Mu Sigma’s founder is launching a new social media platform, online travel booking company Goomo has paired with UNIGLOBE to get a foothold in the Indian market, and blockchain startup Proffer is holding a summit along with NITI Aayog to explore the uses of cryptocurrency architecture.
Here’s what went on this week on Startup Street.
Mu Sigma Co-Founder Plans An Alternative To Facebook
Ambiga Subramanian, co-founder of the big data analytics company Mu Sigma, will soon launch a social media application, meant to be an alternative to Facebook.
Subramanian, along with Goutham Ekollu, co-founded hyphen.social about a year ago, according to a report by the Economic Times. The app, which will be launched in the next few weeks, will allow users to remain anonymous.
“During a discussion between Ambiga and I, we discussed the need for authentic conversations among people and how anonymity enables that in multiple environments, whether be it at work, at college or any social connection,” Ekollu, former head of operations at Mu Sigma, told the newspaper.
An online platform that providers users anonymity also has its pitfalls. Applications such as Sarahah—that allows users to send anonymous comments—have triggered a debate over online hate and abuse. Already, social media giants Facebook and Twitter are pouring in resources to safeguard their platforms against fake news, hate speech and adverse influence.
Hyphen.social will posses features to check fake forwards, the founders said.
Anonymity is a double-edged sword. It can enable authentic conversations, but can also reduce accountability in people. There is a lot of research available on understanding group and individual behaviour in anonymous settings. We have tapped into some of them to come up with gamification within the app around anonymity.Ambiga Subramanian, Founder And Former Chief Executive Officer, Mu Sigma
Online Travel Startup Goomo Partners With UNIGLOBE
Online travel booking startup Goomo has partnered with one of the largest travel agencies in the world to strengthen its position in India's crowded market. Goomo has paired with UNIGLOBE Travel, the first such alliance between a domestic online travel company and a global agency.
Customers on Goomo will be able to connect with UNIGLOBE's travel agents for a customised experience, the company said in a joint statement.
Launched in March this year, Goomo has landed in an already competitive space with popular websites such as MakeMyTrip.com, Yatra.com and TripAdvisor already vying for a larger share.
“Clients have the right to choose the channel they’re most comfortable with while booking their travel. That’s precisely what our partnership with UNIGLOBE promises— a one-stop shop to access the best online and offline travel deals and products,” said Varun Gupta, chief executive officer of Goomo.
In return, UNIGLOBE will get an opportunity to further penetrate into the Indian market and access both offline and online customers. The tie-up will allow the global travel giant to add enormous sales potential while lowering business costs, the company said.
Blockchain Startup, NITI Aayog Explore Uses In India
Blockchain startup Proffer, along with India's official think tank NITI Aayog, organised a four-day Blockchain summit and hackathon at the Indian Institute of Technology-Delhi starting Friday to explore the cryptocurrency architecture.
Blockchain technology is the backbone of cryptocurrecies such as Bitcoin and Ethereum that creates a secure public ledger of transactions. The summit is exploring how Blockchain can enable a new digital infrastructure in India to improve the cost and transparency, NITI Aayog said in a statement, according to newswire PTI.
Over 1,500 students from IITs, Massachusetts Institute of Technology, Harvard, Berkeley and other top engineering institutions are participating.
Microsoft, IBM, Accel, Coinbase, and Amazon AWS are sponsoring $17,000 in prizes to reward the top five blockchain-based applications addressing problems in government/enterprise infrastructure, finance, energy markets, supply chain, decentralised Aadhaar identities and information exchange, the statement said.
(With inputs from PTI)