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Important decisions taken at 40th GST council meeting held on 12 June 2020, Tax updates All You Need To Know

Important update and decisions made from The 40th GST council Meeting held on 12th June 2020

gst, gst update, gst news

5 points from the GST council meeting held today.

1️⃣ For all those who have no tax liability but have not filed GST returns for tax period July 2017 – Jan 2020 (prior to #COVID19 period), there shall be no late fee at all.

2️⃣ For people who have tax liability, maximum late fee for non-filing of GSTR-3B returns for period Jul 2017 – Jan 2020 has been capped to ₹ 500.

This will apply to all returns submitted during Jul 1, 2020 – Sep 30, 2020

3️⃣ For small tax payers whose aggregate turnover is up to ₹ 5 crore, the rate of interest for late furnishing of GST returns for Feb, Mar and April 2020, beyond July 6, 2020: the rate of interest is being reduced from 18% to 9%.

4️⃣ Small tax payers whose aggregate turnover is up to ₹ 5 crore will be provided a waiver of late fees and interest if they file the form GSTR-3B for the supplies affected in months of May, June and July 2020, by September 2020.

5️⃣ Tax payers who could not get cancelled GST registrations restored in time are being given an opportunity to apply for revocation of cancellation of registration upto September 30, 2020 in all cases where registration has been cancelled till June 12, 2020.

Source: Ministry of Finance – official Twitter channel

Is this the end of the luxury industry? Has Covid19 ruined the luxury industry? The Impact of Covid-19 on Luxury Industry.

In today’s situation, where people are finding it difficult to meet both ends, due to the pandemic Covid-19, the luxurious industries are suffering from the harsh attack of pandemic more than any other industry.

 

 

All the Luxurious Industries are finding it difficult to keep their ship floating. They are in the situation where their industry might become extinct. With the steep fall in the economical situations of consumers, they are not willing to go for luxury goods. 

The demand for Luxurious goods is elastic, so the consumers can easily postpone their purchases, hence we can easily say that the demand of the luxurious goods in this situation has changed drastically. But they are still not lagging behind in the fight against Covid-19.

 

So many of the renounce brands have joined hands with the government to fight against this pandemic. They have changed their strategies, and have ended up shutting down their luxurious stores, delaying their fashion shows, and even cancelling their events, and turning their production from luxurious goods to necessities goods. 

Many perfumes brands had shifted their production to sanitizers and antivirals sprays and even the fashion apparel industries had moved their productions from designer clothes to medical gowns and masks. LVMH, Parent company of Louis Vuitton had converted it’s perfume factories into an antiviral solution manufacturer and also prepared surgical gown and mask, even Gucci, Bvlgari, and many more, are also helping in this cause.

  

Even after that they know that the setback they are going to face is worse for them than any other industries, they still are ready to fight against. It  shows us the true nature of working in society.

 

They are facing a situation where they can lose their hold in the market and  have to find a way to uplift their situation, the only hope of revival is the betterment of the economic condition, which is still not close. But taking it to the positive side, it is also an opportunity for these industries to create a new start or form a new line and also experimenting in a way they had never thought about. It is time to take risks and find a new way to get them out of these crises and to maintain their goodwill among the customers. They should hold the courage to fight against this pandemic and become an undetectable brand in the society.

 

“Success is not final; failure is not fatal: it is the courage to continue that counts.” 

 

-Winston Churchill.

Impact of Covid-19 in India on FMCG brand like Hindustan Unilever Limited

The giant FMCG Company Hindustan Unilever needs no introduction in today’s world. 

With its essential and daily use products, Hindustan Unilever through its different brands has now become a part of our family ! 

Right from starting our day till going to bed, we almost use multiple products of this giant brand.

 

But just like almost all other industries,does Covid-19 really affect HUL (Hindustan Unilever Limited)?

 

 

As we are looking through the news everyday, we only read about how the consumer goods (FMCG) industry is fledgling in these situations. But is this true? Are FMCG really fledgling in these situations?

While reading through certain articles, it was concluded that it is actually not true. Hindustan Unilever (HUL), which is the one of the biggest companies for FMCG products had claimed that they are actually not earning as much profit as they were expecting. The real situation is that there are many additional operation expenses that the company is bearing. These expenses are much more than the expectation and eating a lot of their profits. So actually the situation had turned out to be not so profitable for these companies too.

The giant FMCG Company Hindustan Unilever needs no introduction in today’s world. With its essential and daily use products, Hindustan Unilever through its different brands has now become a part of our family ! Right from starting our day till going to bed, we almost use multiple products of this giant brand.

The company is finding some difficulties in the transportation of the raw material and finished products. As there is a restriction in the movement of goods from one state to another. And because of that the company is not able to provide their products to their regular customers. 

 

The company is also facing problems of new competition in the market. As the FMCG is the only industry that is operating right now at a normal pace. Many new firms are shifting their production to the FMCG unit. Which leads to new competitors in the market. And taking much of their market share.

 

But it was also cleared by HUL that the demand had increased to certain extent even though profit had decreased. The company is now producing at 90% capacity while it’s normal capacity was 75%. HUL has a strong financial position, even stronger cash flow so it is believed that they won’t have any difficulty in meeting the demands of the consumers in the near end. It won’t give up that easily without giving a fight.

Recommended : You shouldn’t miss this article,if you have Aarogya Setu App installed in your phone ! All you need to know ! 

 

HUL is ready to fight against Covid-19. It had started analysing their line of action, even started to study new technology to develop a mode of distribution which include zero contact, also planned to start online Kirana stores and had cut down the production of cosmetics and used that to produce personal hygiene products. But still the future is unstable and they do not know where they will stand in the coming period.

Ever Thought, How does Whatsapp Earn Money?? Business and Revenue Model of Whatsapp EXPLAINED ! 

Top 10 Hottest Startups Of Australia Along With Their Funding And Official Startup Website

Just like many other countries, the startup culture has boomed in Australia as well.  

People and youths are giving their time and efforts in startup business and are coming up with various innovative and creative startup business ideas. 

Through this article, we are going to share some facts about the Australian top startup company and businesses along with the startup funding that they have received.

We are mentioning these startup official websites also for a clear reference. 

10. Employment Hero-  

employment hero

Employment Hero is Australia’s first all-in-one HR, Payroll and benefits platform for employers and employees. It is basically a platform that allows managing Human Resource, Payroll and Employee benefits.

Startup Website: www.employmenthero.com

Startup Funding Raised: $27.7Million

9. Assembly Payments- 

It is a payment platform that enables companies to accept, manage and disburse payments. Ensuring to maintain at the secure system that complies with regulatory standards , it provides payment solution for specific business line including marketplace, in store cashier and platform. Startup Website: www.assemblypayments.com Startup Funding Raised: $32.3 Million

It is a payment platform that enables companies to accept, manage and disburse payments.

Ensuring to maintain at the secure system that complies with regulatory standards , it provides payment solution for specific business line including marketplace, in store cashier and platform.

Startup Website: www.assemblypayments.com

Startup Funding Raised: $32.3 Million

8. Power Ledger-

Power Ledger is basically a technology company powering marketplaces to support renewal energy and carbon credit transactions. Startup Website: www.powerlrdger.io Startup Funding Raised : $35Million

Power Ledger is basically a technology company powering marketplaces to support renewal energy and carbon credit transactions.   

Startup Website: www.powerlrdger.io

Startup Funding Raised : $35Million 

7. Lendi-

Lendi allows Australians to get home loans, by offering option to compare, chose and get approved for home loans online from more than 30 major lenders. Startup Website: www.lendi.com.au Startup Funding Raised: $40 Million

Lendi allows Australians to get home loans, by offering option to compare, chose and get approved  for home loans online from more than 30 major lenders.

Startup Website: www.lendi.com.au

Startup Funding Raised: $40 Million 

6. GO1

Go1 platform helps companies to find, book, and deliver their corporate training. Apart Australia, it has expanded in countries like United States, United Kingdom, South Africa, Vietnam and Malaysia. Through focusing on professional learning,Go1 has become a leader in online learning and education in Australia. Startup Website: www.go1.com Startup Funding Raised: $43.7 Million

Go1 platform helps companies to find, book, and deliver their corporate training.  Apart Australia, it has expanded in countries like United States, United Kingdom, South Africa, Vietnam and Malaysia.

Through focusing on professional learning,Go1 has become a leader in online learning and education in Australia.

Startup Website: www.go1.com

Startup Funding Raised: $43.7 Million 

5. 99 Designs-

99Designs is basically an online platform that allows anyone to find designers for their logo and brand identity, video and animation, advertising, web and app designing, clothing and merchandising Startup website: www.99design.com Startup Funding Raised: $45 Million

99Designs is basically an online platform that allows anyone to find designers for their logo and brand identity, video and animation, advertising, web and app designing, clothing and merchandising.

Startup website:  www.99design.com

Startup Funding Raised: $45 Million  

4. Uno- 

Uno is an online platform letting users to search, compare and settle home loans. It provides a set of tools and calculators to compare loans to acquire real estate property and evaluate refinancing opportunities. Startup website: www.unohomeloans.au Startup Funding Raised: $46.1 Million

Uno is an online platform letting users to search, compare and settle home loans.

It provides a set of tools and calculators to compare loans to acquire real estate property and evaluate refinancing opportunities.

Startup website: www.unohomeloans.au

Startup Funding Raised: $46.1 Million 

3. Spaceship-

Spaceship is an investment platform which is dedicated to help the younger generation invest and build wealth opportunity directly through its online app. Startup Website: www.spaceship.com.au Startup Funding Raised: $71.1 Million

Spaceship is an investment platform which is dedicated to help the younger generation invest and build wealth opportunity directly through its online app.

Startup Website: www.spaceship.com.au

Startup Funding Raised: $71.1 Million 

2.Canva-

Canva is very popular among graphic designers, as it is a digital platform dedicated to graphic designers to design logos, presentations, social media graphics, business cards and other professional designs. Startup Website: www.canva.com Startup Funding Raised: $241.6 Million

Canva is very popular among graphic designers, as it is a digital platform dedicated to graphic designers to design logos, presentations, social media graphics, business cards and other professional designs.

Startup Website: www.canva.com

Startup Funding Raised:  $241.6 Million 

1 Judo Bank-

Judo bank is basically a bank and lender that focuses on small and medium- sized companies. Through the team of dedicated relationship managers, Judo bank is dedicated to deliver tailer – make financial solutions , provides business loans that exactly fits the needs of each SME. Startup Website: www.judo.bank Startup Funding Raised: $1.5 Billion

Judo bank is basically a bank and lender that focuses on small and medium- sized companies.  Through the team of dedicated relationship managers, Judo bank is dedicated to deliver  tailer – make financial solutions , provides business loans that exactly fits the needs of each SME.

Startup Website: www.judo.bank

Startup Funding Raised:  $1.5 Billion   

Conclusion 

Through the article, we tried to cover the top 10 hottest startups of Australia; along with the funding that they have raised. 

Talking about these startups, many are B2C while many are focused on B2B sector.

 

The valuation has been done in USD with reference from the data found in AUD.    

To get any company grow the idea of raising funds is literally very important. Do read our this article, If you haven’t read How To Convince investors to invest in your startup. 

Why Jio Is Raising Funds Continuously? The Amazing Plan Of Jio- Explained

Jio again rose funding even during lockdown!

 

Four weeks, Four funding, $ 8Billion rose. 

Mukesh Ambani who owns the Reliance Industries Limited; is the richest person in India. He personally invested $35 Billion in Jio and made it profitable in just 4 years.

 

Mukesh Ambani who owns the Reliance Industries Limited; is the richest person in India. He personally invested $35 Billion in Jio and made it profitable in just 4 years.

Now, why is he raising fund again and again? Since, Reliance was primarily known for the traditional approach of self-investing.

Through this article we will try to understand why Jio is raising so much of funding, and would try to understand the future plans of Jio, the impacts of the Jio funding in Indian economy and ecosystem.

1st thing first, if Mukesh Ambani has thought to invest his time and effort somewhere; that simply means he has some crazy planning probably no one has thought so far !

 

Let’s begin.

During the lockdown, many of the startups are literally facing the serious challenge of financial loss. They had to cut down their employees’ salary and some startups fired huge number of employees even.  Swiggy being one of them, if you haven’t read that yet, you can read it from here.

The main sufferers are the offline startups, who even stepped into different segments; but meanwhile Mukesh Ambani was playing his own game !

 

Let’s take a quick view- 

Now, let’s talk about the reasons why jio is raising this much of funding. Reason 1.The mission of Digital India- Since during the launch of Jio from 2016, the mobile Internet penetration has literally hiked. He gave free internet to the users and emerged as the biggest telecom network of India.

-On 22nd April 2020, Jio platform raised funding of $5.7 Billion from Facebook Inc. in exchange of it 9.99% stake.

-On 4th May 2020, Silver Lake invested INR 5,656 Crore for 1.15% stakes.

– On 8th May 2020, Vista Equity Partners Invested INR 11,367 Crore in exchange of 2.32 % Stake

-On 17th May 2020, General Atlantic Invested INR 6,598 Crores for 1.34% stake.

If you missed to read about the Jio Deals, you can read this here for Free.

 

Now, let’s talk about the reasons why Jio is raising this much of funding.

 

 

Reason 1.The mission of Digital India

Since during the launch of Jio from 2016, the mobile Internet penetration has literally hiked. It gave free internet to the users and emerged as the biggest telecom network of India.

Since during the launch of Jio from 2016, the mobile  Internet penetration has literally hiked. It gave free internet to the users and emerged as the biggest telecom network of India. 

And it was a clear vision to make India as a digital economy, therefore in almost every 3-4 weeks Jio started acquiring companies (like Grab, haptic, Saavn, fynd, Tesseract,DEN, hathway, Embibes, Reverie, Embibe) from different segments  it was a hard puzzle to solve that time.

Even Ambani invested in Artificial intelligence, Machine Learning, Augmented Reality, Internet Of Things, and Big Data Analytics . 

So, basically he is planning to connect all these companies and technologies to a common platform of Jio. Remember those Jio-chat app, Jio Saavan, Jio Express, Jio Money, Jio TV, Jio Cinema etc , and to integrate them properly, he is raising huge funding.

Reason 2. Help & Guidance In Technology

“Hein…. !!! Are you mad or what! Reliance is mainly into Petro-chemical and oil industry, now it is entering in retail sector. Why would Reliance want to be a tech company?”

Well! This is my blog and I can write anything I wish..  😛

(sorry for the lame joke)

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.

.

.

 

Coming back to the topic, almost all of the most valuable companies of the world; be it Amazon or Microsoft; all of them are tech companies. And seeing the growth in these sectors, the Indian Business Magnate Mukesh Ambani is all set to step into tech sector. 

Sounds amazing?  

  

Now, Reliance understood the growth factor in the tech sector as it is normally easy to raise valuation and user base.

Keeping this in mind, when Jio was launched, it was primarily focused on mobile data, as Ambani knew if he is planning to make the telecom company as a tech company he will need to focus on the technology and innovative team from the beginning

But yet after acquiring various tech companies he was lacking behind. Analyzing this issue as an opportunity, Facebook Inc. forwarded helping hand, which end up in Jio-Facebook deal.

Now, Facebook will not only help in technological aspects, but would solve the another issue that Jio is facing- “the less user base in its platforms( Jio-chat, Jio Movies,etc).

Jio then decided to use the whatsapp platform, as it has more than 400M users in India, and since whatsapp is very easy to operate.

The concept of Jio Mart came from here, which they have launched already.

“Data is the new Oil”, do you remember this statement made by Mukesh Ambani few years back?

When he told this everyone was praising him for this statement, but he has started implementing it.  

Reason 3. The Debt Factor:   

Till 2012 Reliance was going in its full swing without any debt. But they thought to do bigger in the industry, decided to offer free internet in India and ended up with $21 Billion Debt.   

Reliance aims to become debt free by 2021, and this being one of the major reason , Jio is continuously raising funds.

Now, you might think “Why would Reliance want to become debt free so early. Why don’t they wait for few more years?”

Well ! The Zero debt reflects a very positive image in the eyes’ of investors.

 

If you haven’t read how you can raise funding for your startup, read it here. 

Reason 4. The vision of 5G Technology- 

You must have heard reports stating ‘Jio is ready for 5G or ready to upgrade whenever the new technology arrives’.

When companies like Vodafone Idea and Airtel is working with Huawei, since Huawei is very advance is 5G technologies. 

5g in india, jio launching 5g in indiia

But, Jio has some other plan, and if this is successful; the worlds will see a different India!

Jio is planning to manufacture the 5G technology by itself and therefore it acquired US based tech company ‘Radisys Technology’ in $67 Million, and has integrated it with its subsidiary ‘Rancore Technologies’, and are working in making the 5G equipment.

Even when India will start 5G services, the telecom company needs to buy the spectrum. And this might be a reason why Mukesh Ambani is collecting huge amount as a backup to buy spectrum!

And that’s all in this article. I am going to play Ludo King now. BTW if you haven’t read the Business and Revenue model of Ludo King, Do check this here. Their revenue in March 2020 will surprise you.  

Disclaimer- The points mentioned in the articles contains the personal view of the writer and, is structured on the basis on facts and figures available on the web. The mentioned brand logo is/are the Intellectual Property right of its owner, and is used to provide relevancy to the topic.

How Does Whatsapp Generate Revenue? Business and Revenue Model Of Whatsapp.

 

Whatsapp is an app that needs no introduction in today’s era!

 

It is basically an American freeware, cross-platform messaging and Voice over IP service owned by Facebook, Inc.

 

Family groups, friends group, office groups, play groups and many more other groups see millions and millions of messages per day that too for free !

But, Whatsapp too have some maintenance costing.

 

Do you really know how does Whatsapp make money? What is the Business and Revenue model of Whatsapp?

 

 

Well! Through this article, we will be clearing all your doubts. 

Let’s talk a bit about the history of Whatsapp.

 

 

Ex-Yahoo Employess ‘Brian Acton and ‘Jan Koum are the founders of Whatsapp, who once went to Facebook for Job. But they were rejected; and later on they end up launching their own messaging platform Whatsapp. 

Earlier Whatsapp used to charge $1 as subscription fee (LOL!)

 

 

On 19th February 2014, Facebook Inc acquired Whatsapp in a US$19 billion deal.

 

Now, Why would Mark Zuckerberg the CEO and 7th Richest Person of the planet (as per the internet research dated May 21st 2020) would invest that much of money in buying a platform that is for free?

 

 

Sounds interesting, right? 

whatsapp earning

Let’s talk about some technical points.

When we are online, we generate some tera bytes of tera bytes of data every moment on daily basis which includes our shopping, watching, listening, and all other interests.

 

 

And this data is then transferred to Facebook through which they put effective targeting options in Facebook ads. 

Eg- Ever happened, when you talk about visiting your favorite destinations  on whatsapp; and when you use Facebook you see advertisement of Make My Trip or Goibibo ?

Or, when you had a strong argument with your partner, and you start seeing a dating app ad. !  

 

Relatable, right?

 

And how can you forget the Emoji that you send, files that you send, the topics that you discuss in groups !

 

All this data shows one’s behavior and are shared with Facebook to make its advertisements more effective.

As per the reports, In the fourth quarter of 2019, social network Facebook’s total revenues amounted to 21.08 billion U.S. dollars,( 1,592,435,900,000 Indian Rupees) the majority of which were generated through advertising. The company announced over seven million active advertisers on Facebook during the third quarter of 2019.

 

 

Facebook Inc. has 84 acquisitions and mergers till now( dated May 21st 2020). Latest being the Facebook-Giphy Deal, if you haven’t read it yet, read it for free!

Someone has said “If you are not paying for any product, you are the product” !    

 

 

Despite this, the wonderful platform that Facebook has given to the world; is truly a piece of blessing. One can easily connect with his/her friend, family and beloved one that too without paying any single penny to log-in into this wonderful platform. 

Disclaimer: The understanding made here on how whatsapp make money is the sole views of the writer. No any investor, banks or VC (Local or Global), or qualified researcher, consultants, or any company have confirmed or explained. The article claims no exact revenue model of whatsapp, it is not meant for misleading, but is based on secondary web researches.

Please use your own views and discretion while reading.  

Swiggy Says Bye To Its 1100 Employees And Derails Cloud Kitchen

The pandemic Covid-19 has turned as a curse for the travel and hospitality industry.

Recently, some major steps have been taken from the startups, and even from the Unicorn startups.

 

Through this article, we are going to cover the latest news coming from Swiggy

Food delivery platform Swiggy announced to lay off 1100 employees as Covid-19 is hitting its core and cloud kitchen business harder!

 

 

“Today is one of the saddest days for Swiggy as we have to go through an unfortunate downsizing exercise,” Swiggy co-founder and CEO Sriharsha Majety wrote in an email to the company’s employees on May 18, according to the company’s blog. He also said the company had already begun shutting down its kitchen facilities temporarily or permanently since the onset of the COVID-19 outbreak.

Swiggy news, swiggy co founder quits swiggy

“We unfortunately have to part ways with 1,100 of our employees spanning across grades and functions in the cities and head office over the next few days,” he further added.

 

 

The CEO said the company’s HR team will contact the impacted employees over the next few days. Swiggy is “fully committed to providing the best financial, emotional and career-related support” to the impacted staff, he added.

Recently, the Co-founder and ex-CTO left swiggy and joined a tech startup. If you haven’t read that read it here.  

The Story Of Rise OF Unacademy

At The Age of 16, he cracked AIIMS examination. At the age of 22 he cracked UPSC, and left the job of IAS to started working on his own startup. It’s a real story, NOT a Filmy one !

There are many extra ordinary stories about some of the founders or co-founders of some startups, but this story is truly amazing.

 

We will try to present the story as a short film script!

 

 

Let’s begin.

<Scene 1>

 

31st December 2010   

Gaurav Munjal, a final year Engineering student from NMIMS Mumbai, instead of going or planning for the party, he made an educational video about ‘Variables’ and uploaded it on YouTube .

Next week he again posted an educational video and did the same, and continued for many weeks. 

gaurav munjal the ceo and co founder of unacademy

As a result after a month he starts getting messages and positive response from the audience.

 

Gaurav didn’t focus on the YuTube Channel initially, and went for a job.

 

He worked in Directi and later set up his first company Flat.to in 2013. He sold Flat.to to Common Floor a year later.

<Scene 2>

 

 

The Entry of Roman Saini

roman saini story, ias roaman saini

Born on 27 July 1991 in Jaipur, Roman Saini is an important character of the Unacademy Story.

 

At the age of 16, he cracked AIIMS.

 

At the age of 22, he cracked UPSC and was serving in Jabalpur, Madhya Pradesh as Sub-Divisional Magistrate or Deputy Collector.

 

Gaurav and Roman were good friends.

 

Roman decided to join his YouTube and other platforms to provide classes for cracking reputed entrance exams. 

<Scene 3>

 

 

The Formation and Rise of Unacademy 

unacademy courses, unacademy courses free

This was the time when traditional coaching institutions were on their full swing!

But these coaching institutions were mainly targeting tier 1 cities, and they had some limitations in terms of seating capacity and high fees.

 

Seeing the tremendous opportunity, Unacademy launched its App based platform to make the Quality Education Accessible.

This gave them a clear idea and vision to go ahead with the concept.

 

They started working on building a proper strong team.  

 

 

Roman Saini quit his job of Sub Divisional Magistrate in 2015 and joined Sorting Hat Technologies, a company that Munjal had set up along with Hemesh Singh in September 2015.

The USPs

The USP of Unacademy is that they try to target a huge market and provide Quality  education under one umbrella.

They launched various other competitive courses and made good number of users.

 

Unacademy then became a marketplace as well where they allowed various tutors or educators to join their platform and to connect with students.

Later they introduced Subscription plan (Unacademy plaus) where the students have opportunity to enroll for any competitive course and they can even choose the tutor they want to learn from.

 

Means, if someone enrolls for UPSC, you get access for all educator who are teaching UPSC, he/she can choose any teachers, anytime.

The concept of ‘Structured Course’ , ‘Live course and Quizes with Written Analysis’ along with ‘Goal Set’ were some big add-on to boost the growth of Unacademy Plus.

They have 32 exam categories as of now, but very soon they are going to add many more categories as well.

 

The Concept of ‘Master Classes by Legends’ , where celebrities like Virat Kohli. Anushka Sharma, AB de Villiers ,  Kiran Bedi,  Shashi Tharoor interact with students, which give Unacademy a good traffic. 

 

They have 100,000+ paid users as of now, which is growing rapidly.

 

They made a revenue of 22 Crores in 2019, and till February 2020 it reaches to 120 Crores.

Gaurav said that the firm’s revenue in April was “more than all of 2017, 2018, and the first half of 2019 combined.”

The company claims to have seen an 82% surge in revenue in April when compared to the previous month while also registering more than 10X growth as compared to April 2019.

 

Unacademy is now expanding internationally. They recently started their services in Indonesia as well. 

Competitive Anaysis 

competative analysis of unacademy

The main competition when it comes in Education sector is the Giant E- Learning App ‘BYJU’S’ and Vedantu.

These platforms are targeting K-12 students (Std. 12 students) and are making them habitual of their respective platforms from Secondary level only, and they can even easily upsale their services  to their readymade users, whereas the target market of Unacademy is graduated or those who are looking for competitive exams, which is a very narrow targeted market size. 

Even, Unacademy is also stepping into K-12 segment slowly

Conclusion

 

The story of Unacademy is truly amazing and seems like a filmy story!

Yet being in the competitive niche of Education; where big players like BYJU’S and Vedantu are well established, the rise of Unacademy is literally all about understanding the needs of the market and proper execution.

Unacademy has a long way to go, and we wish the management and whole team a successful way ahead.   

 

We at Wynswell help young entrepreneurs and businesses to establish themselves in the market in all possible ways by providing Book Keeping services, Internal Auditing, Accounting, Taxation , Business and management software, social media marketing etc at genuine price. 

Top 5 Startups Of Bangalore That Have Become Unicorn Now

Bangalore or Bengaluru is very common name when we think, talk or hear about the startups in India. 

Because of Swiftly back in 1980, their prominent role in Nation’s IT, The startup culture, work ethics and a place for startups hiring fresher has some common factors that have probably made the IT city as the Silicon Valley Of India !

With the rise of startup culture and since having both B2B and B2C startups, there are many startups in Bangalore hiring freshers. The city has emerged as IT city as well as one of the best places for high paying startups.

 

Now a days even the fresh engineering graduates are also looking for best startups to work for. 

We have mentioned Top 5 Startups from Bangalore that have now become startup unicorn in India.

5. Mu Sigma- 

Mu Sigma, Mu Sigma career, Mu Sigma salary,Mu Sigma salary, Mu Sigma ceo

A data analytics firm with some big clients like Microsoft, Walmart and Dell, was founded in 2004 by Mr. Dhiraj Rajaram.

 

It joined the Billion Dollar startup club in 2013, it managed to secure the largest funding round ever by a business analytics company.

4. Quikr– 

quikr, qukir india pvt ltd,quikr jobs quikr delivery, quikr home

Founded in 2008 by Mr. Pranay Chutlet and Mr. Jiby Thomas, is an online classified advertising and market place platform. It has more than 30 Million users every month in more than 1000 cities. 

3. InMObi-

in  mobi, in mobi logo in mobi share price, in mobi

Founded in  2007 under the name mKhoj by Naveen Tewari, Mohit Saxena, Amit Gupta and Abhay Singhal, it was enhanced from SMS-based services to mobile advertising and rebranded as InMobi in 2008.

 

InMobi provides mobile advertising solutions and competes with Facebook and Google in the mobile advertising front, and with investors like Mumbai Angels investors, Soft bank, Kleiner Perkins Caufield & Byers and Sherpalo Ventures and Tennenbaum Capital Partners, it became India’s 1st Startup Unicorn Ever !

2. Ola-

OLA, olacabs, ola career, ola founder, ola startup, ola story

The Diamond needs no introduction !

Founded on 3rd December 2010 by Mr. Bhavish Aggarwal, OLA is an online cab aggregator.

 

The Company  is now offering services in 169+ cities and in countries like India, United Kingdom, New Zealand and Australia. 

1. Flipkart-

FLIPKART, FLIPKART News, Flipkart jobs flipkart bangalore jobs, flipkart owner, flipkart company story

Flipkart, founded in October 2007 by Mr. Sachin Bansal and Mr. Binny Bansal, is one of the Giant E-Commerce Platform  in India with subsdiaries like Myntra, Jabong.com, PhonePe, EKart, 2GUD and Jeeves.

The Popular “Big Billion Day Sale” made the E-Commerce platform very popular amongst youths.

In August 2018, U.S.-based retail chain Walmart acquired a 77% controlling stake in Flipkart for US$16 billion, valuing it at $20 billion.

 

**The brand Logos Mentioned in the article are the Intellectual Property owned by their respective companies and owners and hold esteemed reputation in the market. The main purpose of using these logos is to show proper relevance and clear indication about the brands, and are for educational purpose** 

Conclusion

The Startups culture has played a vital role in emerging Bangalore as a startup hub and, ofcourse one of the best places for fresh graduates for job.

The Startup mentioned in the list are unique in their way of serving, performing, fulfilling the basic needs, demands and solving the issues and problems in one’s day to day life.

It all comes with an amazing Idea, and all amazing ideas need proper execution !

We at Wynswell, feel  pleased to help a number of startups in mentoring, in providing Business and management services at very genuine rate.

 

 

The services like Company Incorporation, Book Keeping, Accounts Outsourcing, Business Softwares, Trade mark Registration, Digital Marketing Services; add stars on our shoulders. 

 

If you are a startup or hold a business, feel free to connect with us for any such services.

We charge genuine rate, yet provide result oriented solutions. Pinky Promise !

 

 

 

Recommended: How to Invest in Share Market

 

 

Recommended: Top 10 Most Valuable Luxurious Brands in the World that you Must Know 

Facebook Buys Giphy In $400 Million Deal, All You Need To Know

Recently After getting 9.99% share in Reliance Jio, Facebook Another exciting addition is made by Facebook Inc.  It  bought GIF search engine GIPHY, Yes you hold it right, Facebook bought GIPHY.

facebook buys giphy

HISTORY OF GIPHY:

Alex Chung and Jace Cooke launched GIPHY in 2013 and the company since than had raised over $150 million in funding. Popular investors in GIPHY are  DFJ Growth,  Lightspeed,  Betaworks, GV, Lerer Hippeau and more.

 

GIPHY has been operating as integrated gif search platform in many mobile Apps and Social media services. It akso holds buld-in search & stickers for Facebook photo networking site Instagram.

FACEBOOK –GIPHY DEAL VALUE :

 

As per the report by Axios, the FACEBOOK GIPHY deal is estimated to Facebooke worth $400 Million. Whereas Facebook has not disclosed the exact terms of the deal.

fb giphy deal

FACEBOOK FUTURE PLANS WITH GIPHY :

GIPHY will Join the Instagram group within Facebook & The GIPHY app will be deeply integrated into Instagram for Stories and Direct Messages.

Facebook is planning to invest in tech development for giphy, as well as build out new relationship on both the content side, as well as the endpoint developer side.

The company had provided data of their traffic source and disclosed that almost 50% of the traffic they receive comes from Facebook or their channels such as Instagram,Messenger, Whatsapp & Facebook itself.

 

Future this, GIPHY will not be exclusive to facebook, and will continue to workwith other services that offer its libraries of GIFs.