This article has been contributed by Dr. Sairaj Patki, Assistant Professor, Psychology, FLAME University.
The Sony World Photography Awards unveiled the winning entry in their creative photo category in March: PSEUDOMNESIA: The Electrician, a black-and-white image of an older woman embracing a younger one. The shot is described in the press release as “haunting” and “reminiscent of the visual language of 1940s family portraits.”
However, the artist, Berlin-based Boris Eldagsen, declined the medal. He declared that his photograph was not a real photograph. To everyone’s shock, the image had been created using DALL-E 2, an AI image generator.
Owing to incidences like these, the creative world has been buzzing with chatter about AI taking over and about the seemingly morbid future of artists. Some artists, on the other hand, are embracing the new technology and exploring incorporating AI in creating artwork that traditional means do not allow.
The burning question, however, is about human creativity. Is it the end of real creativity? Or is it just a nudge for us to reconsider and redefine human creativity?
AI art generators make digital graphics from short lines of text, or ‘prompts’. They can develop a variety of art mediums, including music, collages, digital art, and others. They analyze existing art styles and compositions using neural networks and machine learning to develop new digital artworks. AI art generators may now be used to make logos, flyers, 3D representations, and more. MidJourney, Jasper, DALL-E, BlueWillow, and Leonardo AI are some AI art generators that have gained immense popularity in recent times.
You need not know any programming language or have any hands-on artistic skills yourself. With these tools, anyone can create images (maybe it cannot all be called “art” yet) with a few clicks and within a few seconds. The image below, for instance, was created using the AI art generator, Leonardo AI, by providing the AI model with a brief series of prompts.
Image Created by Prof. Sairaj Patki Using Leonardo AI
The ‘Human’ Contribution to AI-Generated Art
Let us first understand how AI generates art. Data (in this case, photos) is collected by AI art generators and utilized to train the AI using a deep learning model. Imagine how your drawing teacher in school would show you samples of artwork and ask you to recreate them. Machine learning goes through this same process but with millions of images available on the web or those uploaded by the art creator.
Patterns, such as the style of specific pieces of art, are recognized by the ML model. The AI then uses these patterns to generate unique graphics in response to a user’s prompts. These prompts are the most crucial part of the process.
The more detailed the prompt you give, the better the results generated by the AI. Iterative processes often also allow you to fine-tune your intended outcome by making several images. Some platforms even allow you to provide ‘negative prompts’, which help the model exclude things that must not appear in the final creation.
Keeping Real Creativity Alive
Any creative process begins with creative thoughts. A photographer, a cinematographer, a choreographer, a painter, or a writer, all go through a similar process. They visualize the final creation in their minds. They make keen observations of the world around them and seek inspiration from nature and earlier creators.
Cognitive Psychologists describe and measure creativity using the concepts of divergent thinking and remote connections. While the AI has the advantage of having access to millions of ‘inspiring’ images, it still fails to make meaningful associations on some occasions. The most common example of the limitations of current AI art generators is the likelihood of creating human figures with six fingers or four toes.
Can we revisit our traditional definitions of creativity? Can we train the younger generation of artists to use AI as a tool to boost their creations? The core training of keen observations, critical evaluation of existing work, and visualization will remain crucial even in the near future. The ways of assessing and judging creativity would change. For instance, an individual generating more complex and intricate prompts leading to a more realistic and flawless image may be termed more creative than one who cannot.
In short, we will have to become more creative about defining, measuring, and executing human creativity if we do not wish to feel obsolete before the competition given by AI.
Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by Axiom Space.
In the emerging private spaceflight industry, many players such as SpaceX, Blue Origin, and Virgin Galactic were involved in building launch vehicles or rockets. But quite a few companies focused on providing human spaceflight services for people, corporations, and space agencies.
That is when Axiom Space thought of targeting this particular market segment. The United States-based company is known for arranging ‘private astronaut’ missions to the ISS. To learn more about Axiom Space, consider going through the article. Let’s discover the company’s founders, startup story, products, business model, funding, growth, and more.
Axiom Space is a private space habitat company developing space infrastructure and providing human spaceflight services. The company owns, builds, and operates commercial space station modules connected to the ISS (International Space Station). It plans human spaceflight for government-funded and commercial astronauts engaged in in-space research, manufacturing, and exploration.
Axiom Space – Industry
The aerospace industry is all about manufacturing and selling aerospace equipment and aircraft, undertaking aircraft maintenance, repair, and overhaul services, and product support and auxiliary equipment, including air traffic control towers, radar, and satellites. The industry’s global market size is forecasted to reach $442.25 billion in 2026 from $271.76 billion in 2022 at a CAGR of 12.9%.
The pandemic created plenty of uncertainties in the aerospace industry, including lost revenues, loss of staff, and upset customers. However, post-pandemic, the overall economic growth of emerging economies, along with rising disposable income, are positively impacting the demand for air travel.
The Boeing Company, Safran SA, Airbus Group SE, Raytheon Technologies Corporation, and Royce Holdings plc are some competitive companies in the aerospace industry.
Axiom Space – Founders and Team
Michael T. Suffredini and Kam Ghaffarian are the co-founders of Axiom Space.
Michael T. Suffredini
Michael T. Suffredini – Co-founder, President, and CEO at Axiom Space
Michael T. Suffredini attended The University of Texas at Austin to complete B.Sc. in BS, Aerospace Engineering. He is the ex-Manager of the International Space Station Program at NASA. Currently, Suffredini is the Co-founder, President, and CEO at Axiom Space.
Kam Ghaffarian
Kam Ghaffarian – Co-founder and Executive Chairman at Axiom Space
Kam Ghaffarian completed his B.Sc. in BS, Engineering from The Catholic University of America and a Master’s in Information Technology from The George Washington University. He is known for co-founding and founding multiple leading companies, including Emerging Light Foundation, Limitless Space Institute, Intuitive Machines, X-energy, IBX, Gratia, Quantum Space, and Axiom Space.
At present, Ghaffarian is the Executive Chairman of Emerging Light Foundation, Limitless Space Institute, Intuitive Machines, X-energy, Quantum Space, and Axiom Space. In addition, he is the CEO of IBX.
Axiom Space is a team of 790 employees.
Axiom Space – Startup Story
Michael T. Suffredini, CEO of Axiom Space, worked as the program manager for International Space Station from 2005 to 2015. After Suffredini and Kam Ghaffarian retired from NASA, they came together to commence Axiom Space to target the emerging commercial spaceflight market.
The Axiom Station was designed in 2018. It’s in 2022 that the company achieved a historic milestone by completing its first-ever private astronaut mission to the ISS.
The company entered into a contract with SpaceX on March 2020 to fly commercial astronauts to the ISS via Crew Dragon and Falcon 9, scheduled for March 2022. The Axiom Mission 1 (Ax-1) was launched on April 8, 2022, and the crew returned on April 25, 2022.
Moreover, Axiom Space received a NASA contract worth $140 million to provide at least one habitable spacecraft to attach to the ISS. In February 2023, the company announced its Ax-2 crew, a second all-private mission to the ISS. NASA selected Axiom Space for its third private astronaut station mission one month later.
Axiom Space’s mission is to create a thriving home in space, benefitting every human everywhere.
Axiom Space – Business Model
Axiom Space simplifies access to the International Space Station (ISS) for research and in-space manufacturing. In addition, the company constructs the world’s first commercial space station as a platform that a global user base can use. Thus, it offers full-service solutions to access the Low Earth Orbit now and in upcoming years.
Furthermore, Axiom Space arranges so-called ‘private astronaut’ missions to the ISS, including training for at least seventeen weeks and custom itineraries based on individual goals for government-funded or commercial space trips.
Ax-2 Mission Highlight
Axiom Space – Products and Services
Axiom Space offers access to multiple services, including Human Spaceflight, Exploration Systems (for space agencies), Mission to ISS (for innovators), and Research and Manufacturing (for private astronauts). Additionally, the company provides AxEMU (Axiom Extravehicular Mobility Unit) spacesuit.
Axiom Space – Funding and Investors
In 6 funding rounds, Axiom Space raised a total of $432 million. On December 22, 2022, the company conducted its latest funding round – Series C Round and raised $110 million. 27 organizations and individual investors fund Axiom Space, including Boryung Pharmaceutical, Drake Management, TQS Advisors, Jesse Robbins, Bossanova Investimentos, and Hemisphere Ventures.
Date
Round
Number of Investors
Money Raised
Lead Investor
December 22, 2022
Series C
1
$110 million
Boryung Pharmaceutical
January 1, 2022
Convertible Note
–
$172 million
–
February 16, 2021
Series B
20
$130 million
C5 Capital
December 31, 2019
Series A
7
$7 million
–
August 15, 2018
Series A
5
$5 million
–
January 15, 2016
Seed Round
1
$8 million
IBX
Axiom Space – Growth
In 2021, Axiom Space’s post-money valuation stood at $1 billion. Moreover, the company’s team size increased from 110 employees in 2021 to 790 employees in 2023, with a growth of around 618%.
Axiom Space – Social Media Presence
Axiom Space has increased online visibility by regularly posting its mission updates on multiple social media profiles, thus driving more and more followers.
Axiom Space has partnered with leading organizations, and these are:
Art Blocks
Build-A-Bear
Fisher Pens
Jose Andres & Think Food Group
Loro Piana
Omega
Timeshifter
Axiom Space – Awards and Achievements
In 2023, Axiom Space is honored to be named by Fast Company in the Top 50 World’s Most Innovative Companies list.
Axiom Space – Competitors
Some direct competitors of Axiom Space are:
SpaceX
Blue Origin
QinetiQ
Gilmour Space Technologies
Airbus OneWeb Satellites
NanoRacks
Space Adventures Ltd.
Moon Express Inc.
Axiom Space – Future Plan
Operating its commercial space station is the long-term goal of Axiom Space. Ax-3 and Ax-4 missions will launch in November 2023 and mid-2024, respectively. In addition, the company plans to launch two pressurized modules and attach them to the ISS by 2025. And those modules would detach themselves and become a free-floating Axiom Station on ISS decommission in 2030.
FAQs
What does Axiom Space do?
Axiom Space is a private space habitat company developing space infrastructure and providing human spaceflight services. The company owns, builds, and operates commercial space station modules connected to the ISS (International Space Station).
Who are the founders of Axiom Space?
Michael T. Suffredini and Kam Ghaffarian are the co-founders of Axiom Space.
Where is Axiom Space headquartered?
Axiom Space is headquartered in Houston, Texas, United States.
Kolkata (West Bengal) [India], July 14, 2023: In a society where age is often considered a barrier to success, the realm of teenage entrepreneurship stands as a powerful testament to the boundless potential of young minds. This budding entrepreneur not only defies societal norms but also redefines the very essence of success, inspiring us to reimagine what can be achieved with passion and a relentless drive to make a difference.
From humble beginnings as a teenage entrepreneur to becoming a prominent figure in the industry, Sagar Mondal’s story is a testament to the power of determination, resilience, and the ability to inspire a generation.
Mondal’s entrepreneurial journey began at a tender age when he ventured into his first business endeavor, Hyperbot Music. Although the venture eventually closed, it served as a vital learning experience and ignited the flame of entrepreneurship within him. Undeterred by setbacks, he continued to explore new opportunities, eventually establishing SquashCode, a growth marketing agency that propelled him to prominence.
What sets Mondal apart is not just his success as an entrepreneur but also his unwavering commitment to empowering the next generation. Through his journey, he has become a beacon of inspiration for young minds, showing them that age is not a barrier to achieving greatness.
Mondal’s story of resilience resonates deeply with aspiring entrepreneurs who face their own challenges. He has overcome numerous hurdles, turning setbacks into stepping stones toward success. By sharing his experiences and lessons learned, Mondal provides invaluable insights to those who aspire to follow in his footsteps.
As a mentor, Sagar Mondal is actively engaged with prestigious educational institutions, where he shares his expertise and inspires over 10,000 students. His speaking engagements, mentoring sessions, and judging events at renowned institutions like IIM Calcutta, IIM Indore, IIT Kharagpur, VIT Vellore, and others have left an indelible impact on the young minds he encounters.
Mondal instills in students the belief that they, too, can carve their own path to success. He takes pride in witnessing the growth and success of the entrepreneurs he has mentored.
“I believe that resilience, taking risks, and continuous learning are the cornerstones of entrepreneurial success,” he said.
Beyond his engagements with educational institutions, Mondal actively contributes to the growth of entrepreneurship in India. His dedication to empowering young minds is exemplified through his role as a Mentor of Change (MoC) appointed by the Atal Innovation Mission, NITI Aayog.
Ankit Singh, one of Mondal’s mentees, reflects, “Sagar sir’s guidance gave me the confidence to chase my dreams fearlessly. His practical advice and strategic guidance shaped my business strategy and propelled me towards growth and success.”
Sagar Mondal’s journey from a teenage entrepreneur to a trailblazer embodies the result of persistence and the ability to inspire others. Through his mentorship, speaking engagements, and unwavering commitment to empowering the next generation, Mondal has left an indelible mark on the entrepreneurial landscape of India, serving as a beacon of hope for aspiring entrepreneurs across the nation.
Whenever we search for a keyword in Google’s search results, it is always the first three results that we click to get the information. In this digital era, having your page appear at the top is paramount for any online business.
One of the most important facts about having your webpage rank at the top of the search results is that it receives the most visibility and exposure to users searching for relevant keywords. Most people tend to click on the top search results, and being in that prime position increases your chances of attracting organic traffic to your website. It also goes without saying, achieving a top position on Google’s search results page gives you a competitive advantage over other websites in your industry. It allows you to stand out from the competition, attract more attention, and capture a larger share of the search traffic.
But here comes the question, how do you improve your Google ranking without getting penalized? To clear this doubt, this article summarises the key points to enhance your Google ranking.
Google’s algorithms consider numerous factors when ranking web pages, if you do not follow these factors, there is a chance for you to get penalized. Therefore, it’s essential to focus on providing valuable, user-friendly content to improve your chances of ranking at the top.
Ranking at the top of the search results typically leads to higher click-through rates. Users often perceive the top results as more credible and trustworthy, making them more likely to click on those links. A higher CTR means more visitors to your website, potentially leading to increased conversions, sales, or engagement.
Take a look at the following measures to improve your webpage ranking on Google:
Stay Up-To-Date on Google Algorithm
According to Moz, Google updates its algorithm 500 to 600 times a year. To make sure you are on track, always check out for updates on Google algorithm. You can use the following methods to stay informed about algorithm changes:
Official Google Announcements
Google occasionally announces major algorithm updates through its official channels, such as the Google Webmaster Central Blog. Tracking these announcements might provide you with information on important updates and adjustments.
Google Search Console
You can regularly keep an eye on your website’s performance and search statistics on Google Search Console. It can offer details about Google’s probable difficulties, indexation status, and search visibility. Algorithmic changes can be detected by changes in the functionality or visibility of your website.
Google Search Central Blog
Search engine optimization, algorithm improvements, and best practices are covered in depth in the Google Search Central Blog. For the most recent information and analysis from Google, you can follow this blog.
SEO News Websites and Forums
Engaging in reputable SEO forums like WebmasterWorld and Search Engine Journal can help you stay informed about algorithm changes through discussions and shared experiences.
5 Quick Ways to Improve Your SEO Rankings
Conduct Keyword Research and Optimization
The next step is to have keyword research. Keyword research can help you find the right words and phrases users are typing into search engines to find your goods or services. If you use these keywords wisely in your titles, headers, meta descriptions, and body text to optimize your content, there is a higher probability that your webpage won’t be penalized. However, be careful of keyword stuffing or using too many keywords because that might result in penalties.
“Content is King”, may sound old, but, it is still relevant even today. Concentrate on creating insightful, unique, and interesting material that speaks to your target market. Additionally, make sure your web content is useful, impactful, well-structured, and answers all of the consumers’ questions.
On-Page Optimization
Without on-page optimization, your webpage can never get its credibility. On-page optimization plays a crucial role in improving your website’s visibility and Google ranking. It involves optimizing various elements on your web pages to make them more search engine-friendly and attracts potential customers. By optimizing elements such as meta tags, headings, URL structure, and keyword usage, you can increase the chances of search engines ranking your pages higher in relevant search results.
You can also organize your content with proper headings (H1, H2, etc.) and subheadings, using bullet points or numbered lists, and incorporating relevant images or multimedia elements. This structured approach makes your content easier to read and digest for users and search engines.
The next step is to get links from trustworthy and pertinent websites to develop a solid backlink profile. You need to focus on acquiring natural and organic links through techniques like guest blogging, influencer outreach, and creating shareable content. Additionally, you may employ links like editorial links, internal links, or scale link building. But stay away from link schemes and link purchases since they might get you in trouble or penalized.
Have a Solid Social Media Presence
That’s right, you need to maintain a strong presence on most social media platforms. You might ask what it has to do with Google page ranking. By 2027, it is anticipated that there will be approximately six billion social media users worldwide. This is why, you need to be active when it comes to social media. Through the help of social media platforms, you can amplify your content, engage with your audience, and build brand visibility. However, social media marketing doesn’t have a direct impact on ranking, it can indirectly influence your search visibility through increased traffic and brand mentions. For instance, creating a Google Business profile can increase web traffic and give you the desired results. Of course, there are other social media platforms you can use like Facebook, Instagram, and Twitter, which are highly widespread and used by billions.
Strengthen User Experience and Site Usability
By user experience, we mean to say that users should have a positive experience when they visit your website. How is that possible? By making sure, the website is easy to navigate and contains an appealing design. No user will like a website if it is slow and takes a longer time to load. Therefore, prioritize the speed and load time of your website, as it can trigger frustration among users. Maintaining good speed and performance can impact your website’s bounce rate, which is necessary for Google ranking. Besides this, optimize your site for various devices and screen sizes for mobile-friendliness.
Conclusion
By implementing the above-mentioned factors, it is possible for your website to not get penalized. But it is also critical to remember, that improving your ranking is a long-term process that requires consistent effort, quality content, and adherence to ethical SEO practices. So, take time to fully understand what exactly your business and target audiences’ needs and research accordingly without having to burn your pockets for penalties.
FAQs
What are the methods to stay informed about Google algorithm changes?
Following are the methods to stay informed about algorithm changes:
Official Google Announcements
Google Search Console
Google Search Central Blog
SEO news websites and forums
How does keyword research help in improving Google ranking?
Keyword research can help you find the right words and phrases users are typing into search engines to find your goods or services.
How can organic links be acquired?
Natural and organic links can be acquired through techniques like guest blogging, influencer outreach, and creating shareable content.
Company Profile is an initiative by StartupTalky to publish verifiedinformation ondifferent startups and organizations. The content in this post has been approved by Scuzo Ice ‘O’ Magic.
Indulging in delicious desserts is a pleasure shared by people around the world. From mouthwatering gelato to delectable popsicles and tempting sundaes, the dessert industry continues to captivate taste buds and create unforgettable experiences. One such example of a dessert brand that is making its name shine in the industry is Scuzo Ice ‘O’ Magic.
Scuzo Ice ‘O’ Magic is not just your average dessert cafe. It is a haven for dessert enthusiasts, a place where flavors come alive and sweet memories are made. Founded by the visionary entrepreneur Mr. Gagan Anand, Scuzo Ice ‘O’ Magic has quickly become a beloved name in the dessert scene.
In this article, let’s explore the captivating world of Scuzo Ice ‘O’ Magic. From its founder’s journey to its business model, delightful products, triumph over challenges, and more.
Scuzo Ice ‘O’ Magic is a beloved dessert cafe headquartered in Okhla, Phase 2, New Delhi. Established in September 2020, Scuzo has quickly gained popularity among people of all ages. With its wide variety of delectable treats, including refreshing popsicles, gelato, indulgent sundaes, and more, Scuzo Ice ‘O’ Magic offers a delightful and guilt-free indulgence for dessert enthusiasts.
With a commitment to using natural ingredients and a passion for exceptional dessert experiences, Scuzo has become a sought-after destination for those seeking a memorable and enjoyable dessert experience.
Scuzo Ice ‘O’ Magic – Industry
The gelato and ice lolly market (also known as popsicles) has been a popular and thriving segment within the frozen dessert industry. The demand for these refreshing treats has been on the rise, driven by factors such as increasing disposable income, changing consumer preferences, and the desire for indulgent yet convenient options. Flavor innovation, a natural and artisanal focus, health, and wellness considerations, and diverse retail channels have also contributed to the market’s growth.
It’s important to note that the industry is subject to evolving consumer preferences, market dynamics, and competition. The gelato and ice lolly market may experience further changes and developments over the next few years, driven by factors such as emerging trends, technological advancements, and shifts in consumer behavior.
As for Scuzo Ice ‘O’ Magic, the company envisions expanding its presence globally over the next 5 to 10 years. With a strong market position, a robust product portfolio, and strategic partnerships, Scuzo anticipates entering new markets and capitalizing on emerging trends. By continuously investing in research and development, Gagan, the founder of Scuzo Ice ‘O’ Magic, is confident that the company will remain at the forefront of innovation and successfully meet the evolving needs of its customers.
Scuzo Ice ‘O’ Magic – Founder and Team
Gagan Anand is the founder of Scuzo Ice ‘O’ Magic.
Gagan Anand
Gagan Anand – Founder, Scuzo Ice ‘O’ Magic
Mr. Gagan Anand is the visionary and mastermind behind Scuzo Ice ‘O’ Magic, India’s pioneering Live popsicle concept and dessert café. Despite embarking on his career at the young age of 17, Mr. Anand displayed exceptional determination and managed to successfully complete his graduation and master’s while juggling part-time work.
Throughout his journey, Mr. Anand garnered invaluable experience and honed his skills at renowned food establishments such as Pizza Hut, Keventers, Rasna Buzz, and Gloria Jean’s Coffee. His diverse background in the food industry served as a solid foundation for his entrepreneurial endeavors and equipped him with the necessary expertise to spearhead Scuzo Ice ‘O’ Magic.
Scuzo Ice ‘O’ Magic is powered by a dedicated team of 70+ professionals stationed across different locations in India. Their collective efforts play a pivotal role in driving the company’s success and expansion nationwide.
Scuzo Ice ‘O’ Magic – Startup Story
The decision to launch the Scuzo Ice ‘O’ Magic brand was driven by a desire to provide a distinctive and exceptional experience to customers. The idea for Scuzo Ice ‘O’ Magic originated from Gagan’s childhood experiences and love for sweets. Growing up, his mother would make jaggery, and he developed a strong affinity for desserts.
“I vividly remember chasing after the Ice Cream Man in my neighborhood, creating lasting memories associated with ice cream and sweets,” said Gagan.
Throughout his career, Gagan has had the opportunity to work with various F&B brands, including Rasna Buzz. It was during this time that his childhood nostalgia and the flashbacks of ice cream vendors triggered a moment of inspiration. This eureka moment paved the way for theestablishment of Scuzo Ice ‘O’ Magic.
Fueled by a passion and unwavering belief in the vision, Gagan embarked on the journey of launching Scuzo Ice ‘O’ Magic and opened the first store in Netaji Subhash Place, New Delhi, in November, following the first wave of the pandemic. The aim of Scuzo Ice ‘O’ Magic is to provide a unique, enjoyable, and guilt-free indulgence that aligns with the preferences and well-being of our customers. This interactive and personalized experience has become the driving force behind our business.
By introducing the concept of live popsicles and emphasizing the use of 100% natural ingredients, the aim was to differentiate Scuzo Ice ‘O’ Magic from the competition. The primary objective is to create a platform where people of all age groups can indulge in lively and joyous sweet moments without concerns about excessive sugar content or any adverse health effects. The commitment is to offer healthier options without compromising taste or enjoyment. Their focus on using natural products and ensuring a delightful experience for customers sets Scuzo Ice ‘O’ Magic apart in the market.
Scuzo Ice ‘O’ Magic – Vision and Mission
Scuzo Ice ‘O’ Magic’s long-term vision is to become the definitive global dessert brand and the epitome of success in the frozen treats industry. The company strives to deliver customers an unparalleled and blissful dessert experience that surpasses all expectations while simultaneously fostering and empowering the entrepreneurial spirit.
Their motto is to provide ‘Wow and Joyful Dessert Experiences’ and to inspire and promote entrepreneurship.
Scuzo Ice ‘O’ Magic – Product/Service
Scuzo Ice ‘O’ Magic Products
Scuzo Ice ‘O’ Magic offers a wide variety of delicious treats across seven categories, including popsicles, gelato, sorbet, milkshakes, waffles, pancakes, sundaes, and mocktails. With an extensive selection of approximately 90 unique products, Scuzo strives to provide a diverse range of options to satisfy every customer’s taste buds.
While the initial focus was on popsicles, the product range was later expanded to cater to a wider audience. By offering a variety of desserts, Scuzo aims to attract and satisfy the diverse preferences of its customers.
The core value of the company lies in offering wholesome and natural products, ensuring that customers can enjoy high-quality treats. Furthermore, Scuzo prioritizes customers’ individual dietary preferences by providing vegan and sugar-free options to accommodate specific needs.
Innovatively, Scuzo combines traditional kulfi unit principles with innovative technology in its popsicle churner unit. This unique approach allows the brand to embrace the essence of traditional craftsmanship while harnessing the benefits of modern advancements. The goal is to create a seamless fusion of tradition and innovation, resulting in the production of exceptional, high-quality popsicles.
Scuzo Ice ‘O’ Magic – Business and Revenue Model
Scuzo Ice ‘O’ Magic has successfully set up 13 franchise outlets across India, with the first franchisee opening in Super Mart 1, Gurgaon. Additional franchise locations include Noida, Faridabad, Gujarat, Mizoram, and Andhra Pradesh. In line with the company’s growth strategy, there are ambitious plans to open 6–7 more outlets by July 2023. Expanding the franchise model is a key objective as Scuzo Ice ‘O’ Magic aims to reach more customers and extend its presence nationwide.
The stores have established a strong customer base, with an average of 2,500 visitors per day, amounting to around 30,000 customers per month. Additionally, approximately 18,000 new customers are attracted each month, showcasing the company’s ability to expand its customer reach and maintain a steady growth trajectory.
At Scuzo Ice ‘O’ Magic, a significant number of transactions are processed at the stores. On average, each store handles approximately 65–70 transactions per day. With a total of 12 stores, this amounts to approximately 780–840 transactions per day across all outlets. This consistent flow of transactions reflects the popularity and demand for Scuzo Ice ‘O’ Magic products among its valued customers.
Scuzo Ice ‘O’ Magic – Launching Company Strategies
When Scuzo Ice ‘O’ Magic initially launched, the company recognized the importance of understanding the needs and requirements of the target audience. A thorough market study was conducted to gain insights into what potential customers were looking for in the industry. The decision was strategically made to enter a marketplace where other established brands were already present. This choice provided a built-in customer base and increased the likelihood of attracting early adopters. By positioning Scuzo Ice ‘O’ Magic alongside well-known brands like Giani, Baskin Robbins, and Naturals, the company was able to leverage their existing customer base and increase its visibility in the market.
Considering the limited marketing budget as a bootstrapped company, Scuzo Ice ‘O’ Magic had to be resourceful and find cost-effective strategies. One approach that worked well was providing samples of the product to the crowd. This allowed the company to showcase the quality and unique aspects of the offering, enticing potential customers to try it out.
Through this approach, Scuzo Ice ‘O’ Magic was able to generate initial interest and initiate word-of-mouth marketing. Satisfied customers who enjoyed the product became advocates, spreading the word to their friends, family, and social networks. This organic approach played a crucial role in gaining traction and acquiring the company’s first 100 customers.
Scuzo Ice ‘O’ Magic – Customer Acquisition and Retention Strategy
Quality Products and Service: Providing high-quality, delicious treats and delivering exceptional customer service is crucial for building a loyal customer base and generating positive word-of-mouth.
Targeted Marketing: Identifying the target audience and tailoring marketing efforts to effectively reach them. This includes utilizing social media, online advertising, and offline marketing channels to create awareness and attract customers.
Online Presence: Maintaining an engaging and visually appealing website along with active social media profiles to showcase products, interact with customers, and provide updates about new offerings and promotions.
Partnerships and Collaborations: Collaborating with complementary businesses or influencers to expand reach and attract new customers. This can involve joint promotional campaigns, cross-selling opportunities, or tie-ups with local events or organizations.
Viral Marketing: Creating unique and memorable marketing campaigns that have the potential to go viral, capturing the attention and interest of a wider audience. This could involve creating engaging content, utilizing storytelling techniques, or leveraging user-generated content.
Customer Loyalty Programs: Implementing loyalty programs or referral programs to incentivize repeat business and encourage customers to share positive experiences with others.
Regarding the budget allocation for marketing and growth hacking, it would vary from business to business based on their goals, resources, and market conditions. Typically, businesses allocate a percentage of their revenue or a fixed budget for marketing activities. The specific amount spent on marketing would depend on various factors such as the scale of operations, growth goals, competition, and available resources.
Scuzo Ice ‘O’ Magic was bootstrapped with an initial investment of 70 Lakhs from Gagan’s personal savings. The company has experienced significant growth since its establishment, with a current turnover of Rs 5.3 crore. In the period from April 2022 to March 2023, the company achieved a turnover of Rs 4.60 crore, showcasing a consistent year-on-year growth rate of 30%.
To cater to a wider customer base, Scuzo Ice ‘O’ Magic is accessible through popular food delivery platforms such as Swiggy and Zomato. Excitingly, it will soon be available on the Open Network for Digital Commerce (ONDC) as well. While these platforms currently contribute 25% of the overall business, the company aims to surpass this figure to reach its desired target.
Scuzo Ice ‘O’ Magic – Challenges Faced and Overcoming Strategies
One of the most challenging aspects encountered by Scuzo Ice ‘O’ Magic was the lack of customer awareness about the benefits of Gelato and natural fruit popsicles in comparison to traditional ice cream. Customers frequently compared the products with those of nearby ice cream brands and perceived them as more expensive. Despite ongoing efforts to educate customers, it was challenging to convey the value proposition during peak hours, resulting in dissatisfied customers who evaluated the brand solely based on value for money.
To overcome this challenge, Scuzo Ice ‘O’ Magic implemented several strategies:
Education and Training: From the beginning, the company made educating customers about the unique qualities of Gelato and natural fruit popsicles a top priority. Staff members were trained to engage with customers and explain the differences, emphasizing the superior taste, freshness, and natural ingredients used in the products. Visually appealing displays and signage were created to highlight the health benefits and premium quality of the offerings.
Product Sampling and Tastings: Scuzo Ice ‘O’ Magic introduced product sampling and tastings as a way to provide customers with a firsthand experience of the superior taste and quality of the Gelato and natural fruit popsicles.
Workshops and Interactive Sessions: Hosting workshops and interactive sessions proved to be an effective strategy to educate customers about the art of Gelato making and the benefits of consuming natural fruit popsicles.
Personalized Approach: Scuzo Ice ‘O’ Magic realized that solely relying on traditional marketing methods such as print advertisements and flyers did not yield the desired results. Instead, a more personal and engaging approach was necessary to effectively communicate the unique qualities of the products.
Scuzo Ice ‘O’ Magic – Funding
Scuzo Ice ‘O’ Magic is actively seeking external funding from potential investors to support its growth and expansion plans. The company aims to secure approximately $1 million in investment, which is equivalent to around Rs 7-8 crore. Out of the funding obtained, approximately half will be allocated towards B2B and B2C marketing initiatives, focusing on enhancing brand visibility. The remaining funds will be utilized for crucial backend operations, franchise development, and infrastructure enhancements.
By securing this investment, Scuzo Ice ‘O’ Magic intends to accelerate the brand’s growth and expand its market presence. The funds will enable the company to execute robust marketing campaigns, strengthen its supply chain, develop new franchise opportunities, and enhance its operational infrastructure. This strategic allocation of funds will drive revenue generation, boost brand recognition, and facilitate overall business expansion.
Scuzo Ice ‘O’ Magic – Marketing Campaigns
Scuzo Ice ‘O’ Magic has implemented several sustainable initiatives to reduce environmental impact and promote responsible consumption. One notable endeavor is the development of rice straws flavored and colored with edible ingredients. These rice straws offer a safe option for consumption and contribute to environmental conservation.
An exciting addition to edible food packaging is the introduction of edible spoons designed specifically for enjoying gelato. This innovative concept allows the company to completely eliminate the use of plastic cutlery at its stores. By embracing this edible alternative, Scuzo Ice ‘O’ Magic aims to inspire customers to make conscious choices while savoring their meals.
The edible spoons have received tremendous positive feedback, making them one of the company’s most successful marketing campaigns. Scuzo Ice ‘O’ Magic takes pride in offering a sustainable and enjoyable experience to customers while simultaneously contributing to the reduction of plastic waste.
Scuzo Ice ‘O’ Magic faces competition from established brands such as Gelato Vinto, Dolce Gelato, Naturals Ice Cream, and Emoi Popsicles in the market. However, Scuzo sets itself apart from these competitors by offering superior quality and value for money. Numerous customers who have experienced popsicles from both Scuzo and its competitors have provided feedback affirming Scuzo’s superiority.
Despite the presence of well-known players in the industry, Scuzo has managed to carve a niche for itself by consistently delivering exceptional-quality products. Customers have repeatedly expressed their satisfaction with Scuzo’s popsicles, demonstrating a clear preference for Scuzo over its competitors.
This positive feedback further strengthens Scuzo’s position as a leading brand known for its product quality and customer satisfaction. The company’s commitment to excellence distinguishes it from direct competitors, cementing its reputation as the preferred choice for popsicle enthusiasts.
Scuzo Ice ‘O’ Magic – Future Plans
Within a span of three years, Scuzo has successfully established 13 stores, with four of them located in Delhi, NCR. Excitingly, the brand has plans to expand further by opening seven new stores across various regions of the country in the upcoming month. Currently, Scuzo’s primary focus is on metro cities and Tier 2 cities. However, the brand also intends to venture into Tier 3 cities in the future, aiming for broader market penetration.
The company is actively working on launching its retail model, which indicates a strategic shift in its business approach. The goal is to open a total of 100 outlets across India by 2024. This expansion will consist of a combination of franchise and company-owned stores, allowing Scuzo Ice ‘O’ Magic to effectively reach and cater to a diverse range of customers throughout the country.
FAQs
What is Scuzo Ice ‘O’ Magic?
Scuzo Ice ‘O’ Magic is an innovative dessert cafe that offers delightful and guilt-free indulgence. It is known for its pioneering concept of live popsicles made with 100% natural ingredients that provide a delightful and interactive experience for customers.
Where is Scuzo Ice ‘O’ Magic headquartered?
Scuzo Ice ‘O’ Magic is headquartered in Okhla, Phase 2, New Delhi.
When was Scuzo Ice ‘O’ Magic established?
Scuzo Ice ‘O’ Magic was established in September 2020.
What are the offerings of Scuzo Ice ‘O’ Magic?
Scuzo Ice ‘O’ Magic offers a wide variety of delicious treats across seven categories, including popsicles, gelato, sorbet, milkshakes, waffles, pancakes, sundaes, and mocktails.
Who are the competitors of Scuzo Ice ‘O’ Magic?
Scuzo Ice ‘O’ Magic faces competition from established brands such as Gelato Vinto, Dolce Gelato, Naturals Ice Cream, and Emoi Popsicles in the market.
Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by Betterment.
When it comes to investing, almost every individual expects not to know what he is doing. People expect to be confused about which investment option to consider simply because the traditional players have made it confusing. However, just because traditional players have designed the financial system in a certain way, it doesn’t mean it’s right.
Betterment is an America-based company that came forward to design the financial industry into something better. It helps people manage their money and invest it profitably. Read on to learn more about Betterment, including its founders, startup story, challenges, products and services, funding, growth, and more.
Betterment is an app-based independent robo-advisor that provides digital investment, retirement, and cash management services. The investing and saving application offer tools for spending, saving, and developing customized plans for the future. Moreover, users often focus on investing in cash reserves and ETFs to meet their long-term financial goals.
Betterment – Industry
Wealth management is an investment advisory service combining investment and financial counseling to address clients’ needs. The industry generally involves providing strategies to achieve financial goals, plan for retirement, estate, and legal planning, portfolio management, etc.
The global size of the wealth management market was estimated at $1.25 trillion in 2020 and is forecasted to reach $3.43 trillion by 2030, with a CAGR of 10.7%. Rapid demand for alternative investments, including commodities, private equity, intellectual property act, hedge funds, real estate investment trusts, etc., is the key driving force of the global wealth management industry. However, Covid-19 hurt the industry due to economic slowdown, highly volatile markets, and unpredictable global financial sectors.
Jon Stein and Eli Broverman are the co-founders of Betterment.
Jon Stein
Jon Stein- Co-founder and Board Member, Betterment
Jon Stein attended Harvard University for BA in Economics and Premedical Studies and Columbia Business School for MBA in Entrepreneurship. He is the Board Member of Demin and Valora and Advisor to the CEO at Solve Finance, SpinWheel, Setpoint.io, Concreit, Parallel Markets, and Treasury Interactive.
Jon co-founded Betterment and worked as its CEO till 2020. At present, he is the Founder and Board Member of Betterment.
Eli Broverman
Eli Broverman – Co-founder, Betterment
Eli Broverman attended Brown University for AB in Chemistry and New York University School of Law. He is the Executive Board Member at BitFinance and Adviser at Bloom Credit, Good Money, and Masterworks. Eli co-founded Betterment and Treasury. Moreover, he is on the Board of Directors at Betterment.
Sarah Levy
Sarah Levy – CEO, Betterment
Sarah Levy completed her graduation in Economics from Harvard University and post-graduation in MBA from Harvard Business School. She worked as Chief Operating Officer at Nickelodeon and Viacom. Currently, Sarah is the Board Member at Funko and Chief Executive Officer at Betterment, leading a team of around 400 employees.
Betterment Team
Sarah Levy – CEO
Raoul Bhavnani – Chief Communications Officer
Peter Lorimer – Chief Financial Officer
Kim Rosenblum – Chief Marketing Officer
Betterment – Startup Story
Jon Stein and Eli Broverman co-founded Betterment in 2008. Jon experienced bad investing behavior when he invested his money via seven different brokerage accounts. He constantly monitored his accounts and tried to time the market. But it resulted in wasting time, taxes, and transaction costs.
He wanted a service that could tell him what to do with his money and then do the same for him. But Jon realized that he needed to build this kind of service himself. He started focusing on the front end of Betterment, and his roommate Sean Owen, a software engineer, built everything, including Apache and Tomcat servers, MySQL database, and Java application for the website. Next, Jon needed to understand the regulatory landscape. It’s when he started a conversation with Eli Broverman, who was a securities attorney.
Jon and Eli met over a weekly poker game, and Eli was interested in commencing his own company. They both had lunch at a Dominican restaurant on Amsterdam Avenue, sketched a working arrangement, and suddenly were in business together. Sean, Jon, and Eli met Ryan O’Sullivan, who grew a retail clothing line called Le Tigre and sold it to Kenneth Cole. He joined Betterment as a BD partner.
In August 2008, Betterment got its four founding members, Jon, Seal, Eli, and Ryan. On January 29, 2008, the parent company for Betterment LLC and Betterment Securities, Betterment Holdings, Inc, was established in Delaware. After Ryan and Sean left the company as founding members, Jon and Eli worked on Betterment for a year.
And on May 26, 2010, Betterment was launched at the first-ever TechCrunch Disrupt and won the ‘Biggest New York Disruptor’ award. Within 24 hours, the company attracted around 400 customers. 800,000+ customers trust the company, and it has $36+ billion as assets under management in 2023.
Betterment – Mission and Vision
Betterment aims to help people live better by growing their money. Its mission is to provide the best possible solution to the question, “What should I do with my money?”
Betterment – Logo
Betterment Logo
Betterment released a new logo in November 2021 with an icon representing a rising sun.
Betterment – Business Model
Betterment is a robo-advisor that automatically determines the investor’s asset allocation based on financial goals, preferences, and risk appetite. First, an investor needs to tell the company what he wants to do with his money. Next, Betterment provides some recommendations and sets up an ideal account.
Once an investor’s account is built, the platform’s technology manages his money to help him earn more. Moreover, as the investor’s money grows and his priorities change, the platform evolves with ongoing advice and updates to help him stay on track. In last, the same investor can withdraw and use his money.
Betterment – Revenue Model
Betterment’s pricing for the “Investing” account is $4 monthly, and the “Crypto” account is 1% + trading expenses. The “Cash Reserve” and “Checking” accounts are offered for free.
Moreover, the company generates the most revenue from the portfolio management fees it charges as a percentage of total assets under management (AUM). In addition, Betterment charges interchange fees and commissions from partner banks and earns by selling phone consultations.
With Betterment, users can open Investing, Crypto Investing, IRAs and 401(k)s, Roth IRAs, Checking High-yield cash, and Trusts accounts. Furthermore, it offers different types of Investments, including Portfolio Options, Socially Responsible Investing, Charitable Giving, Tax-Smart Investing, 401(k) Rollovers, and Retirement Income.
The application provides access to multiple tools, such as Retirement Planning, All-in-one Dashboard, Track Your Goals, Rewards, and Refer-a-Friend Program.
Betterment – Challenges Faced
In April 2023, The Securities and Exchange Commission charged Betterment for material misstatements and omissions concerning its automated tax loss harvesting service (TLH), not providing clients with the notice of contract changes, and not maintaining certain necessary books and records. The company agreed to pay a $9 million penalty and distribute funds to affected clients as a settlement.
Betterment – Funding and Investors
Over 10 funding rounds, Betterment raised $435 million. Its latest funding round – Debt Financing Round, was conducted on September 29, 2021. 26 investors fund the company, including Kinnevik, Aflac Global Ventures, ID8 Investments, Citi Ventures, Bessemer Venture Partners, and Francisco Partners.
Date
Round
Number of Investors
Money Raised
Lead Investor
September 29, 2021
Debt Financing
2
$100 million
ORIX Growth Capital
September 29, 2021
Series F
12
$60 million
Treasury
April 30, 2021
Venture Round
2
–
SharesPost Investment Management
August 29, 2017
Secondary Market
1
–
–
July 21, 2017
Series E
4
$70 million
Kinnevik
March 29, 2016
Series E
8
$100 million
Kinnevik
February 17, 2015
Series D
5
$60 million
Francisco Partners
April 15, 2014
Series C
5
$32 million
Citi Ventures
October 3, 2012
Series B
4
$10 million
Menlo Ventures
December 1, 2010
Series A
9
$3 million
Bessemer Venture Partners
Betterment – Mergers and Acquisitions
Betterment acquired 3 companies, including Gradvisor on February 23, 2022, Makara on February 8, 2022, and ImpulseSave on October 18, 2013.
Betterment – Growth
Betterment’s revenue surged to $100 million in 2021, marking a remarkable 30% growth compared to the previous year. Moreover, the company’s AUM grew by 50% in 2020 and 18.5% in 2021. However, its AUM growth slowed to 1.2% YOY in the second quarter of 2022. Betterment’s post-money valuation in 2021 stood at $1.3 billion.
Betterment is an app-based independent robo-advisor that provides digital investment, retirement, and cash management services.
Who are the founders of Betterment?
Jon Stein and Eli Broverman co-founded Betterment in 2008.
Who is the CEO of Betterment?
Sarah Levy is the CEO of Betterment.
What is the pricing of Betterment accounts?
Betterment’s pricing for the “Investing” account is $4 monthly, and the “Crypto” account is 1% + trading expenses. The “Cash Reserve” and “Checking” accounts are offered for free.
One brand stands out in the fast-paced world of fashion, defying the tides of time as trends come and go like fleeting dreams. Here comes Gap Inc., a major player in fashion that, since its founding in 1969, has transformed the sector. Gap has carved a remarkable path to success, leaving an enduring imprint on the world of retail with its unwavering dedication to style, quality, and affordability.
Gap’s journey began over five decades ago when Donald Fisher and Doris F. Fisher opened their first store in San Francisco. They had no idea that this small business would develop into a massive conglomerate that included well-known labels like Old Navy, Gap, Banana Republic, and Athleta. The company’s total assets increased dramatically to a staggering $11.386 billion in 2022, strengthening its position as a market leader.
Speaking of the market, Gap Inc. has perfected the art of winning over the hearts and wallets of millions of people all over the world. Their goods are widely used by fashion enthusiasts all over the world and can be found in company-operated stores, franchise stores, and e-commerce websites. Gap Inc. generated an astounding $15.6 billion in net sales in just the fiscal year 2022 alone, which demonstrates its enduring appeal.
While Gap Inc.’s success is undeniable, its journey hasn’t been without its ups and downs. The revenue trajectory reveals a decline since 2016, with fluctuations that have kept the brand on its toes. Despite this, Gap Inc.’s marketing strategies have been instrumental in securing its position in the market. They have consistently adapted to changing consumer demands, leveraging their diverse brand portfolio to cater to various demographics.
Moreover, Gap Inc.’s peak season comes alive in the fourth quarter each year, signaling a surge in sales that has become a hallmark of the brand. This strategic timing, coupled with its innovative marketing campaigns, has propelled Gap Inc. to the forefront of the industry, captivating fashion-conscious individuals and driving unparalleled growth.
With a global workforce of 117,000 employees, Gap Inc. continues to shape the future of fashion. Their commitment to excellence and the ability to evolve with the times have cemented their position as a force to be reckoned with.
Gap Inc. stands out as a symbol of timeless style in a world where trends come and go, transcending limitations and encapsulating the spirit of fashionable living.
The diverse audience that GAP Inc. strategically targets transcends age, geography, and fashion preferences. Their target market includes hip teenagers, fashion-conscious adults, and even kids, appealing to various generations looking for the newest trends. Geographically, Gap Inc. has a broad reach that enables its recognizable products to be purchased anywhere in the world, from thriving metropolises like New York to fashion epicenters like Paris. Beyond demographics and location, their target market includes people who value quality, style, and affordability. By offering a diverse range of collections through its various brands, Gap Inc. ensures there is something for everyone.
Net Sales of the Gap Inc. Worldwide From 2011 to 2022
Gap Inc. – Marketing Mix
Gap Inc., has mastered the art of capturing consumers’ attention and securing a unique niche in the fiercely competitive world of fashion retail. With a strategic and dynamic marketing mix, Gap Inc. has cemented its position as a force to be reckoned with. Let’s delve into the elements that contribute to its success.
Product
Gap Inc. boasts a diverse portfolio of brands, each catering to different segments of the market. From the affordable and trendy Old Navy to the classic and sophisticated Banana Republic, Gap Inc. understands the importance of offering products that resonate with its target audience. With a focus on quality and style, Gap Inc. consistently delivers apparel and accessories that meet the ever-evolving needs of fashion-conscious individuals.
Price
Gap Inc. strikes a delicate balance between affordability and perceived value. By offering products at competitive price points, they cater to a wide range of consumers, making fashion accessible without compromising on quality. This pricing strategy has contributed to their popularity among budget-conscious shoppers seeking trendy yet reasonably priced clothing.
Promotion
GAP’s marketing campaigns are characterized by their boldness and creativity. From captivating advertisements featuring iconic figures to engaging social media initiatives, GAP leverages various channels to create buzz around its brand. By staying attuned to consumer trends and aligning its promotions with cultural moments, GAP manages to connect with its target audience on a deeper level, ensuring brand relevance and visibility.
Place
To ensure that its products are easily accessible to customers, Gap Inc. uses an omnichannel strategy for distribution. Customers can interact with the brand in a way that suits their preferences thanks to their company-operated stores, franchise stores, and online shopping platforms, which provide convenience and accessibility. The seamless blending of online and offline channels improves the shopping experience, increasing client satisfaction and loyalty.
GAP Inc.’s marketing mix is a symphony of strategic decisions that have propelled the brand to the forefront of the fashion industry. GAP’s dedication to providing style, quality, and accessibility will always be at the center of its marketing efforts, keeping them firmly positioned as a leader in the world of fashion retail even as they continue to evolve and adapt to changing market dynamics.
Gap Inc. – Marketing Campaigns
Gap Inc. has launched numerous captivating marketing campaigns over the years, each leaving an indelible mark on the fashion landscape. Here are some notable campaigns that have helped solidify Gap Inc.’s position as a trendsetter:
The 2014 campaign Dress Normal set out to reinterpret what it means to be fashionable. Anjelica Huston and Zosia Mamet were among the notable individuals from the fields of music, film, and fashion who appeared in it. The campaign encouraged individuals to embrace their unique style and showcased GAP’s ability to provide wardrobe essentials that effortlessly blend into everyday life.
Golf – Gap Dress Normal – Fall 2014, Directed By David Fincher
GAP’s 2009 Make Love advertising campaign featured several endearing and welcoming commercials. The advertising campaign emphasized the brand’s dedication to acceptance and unity while celebrating diversity. Through a collection of vibrant visuals and inspiring messages, GAP resonated with consumers on a deeper emotional level.
GAP launched the Back to Blue campaign in 2014 to mark the company’s founding in 1969. It highlighted enduring denim designs and highlighted the brand’s history. The campaign aimed to arouse nostalgia while reiterating GAP’s proficiency in producing classic denim clothing that stands the test of time.
In 2016, Gap Inc. collaborated with actress, director, and style icon Sofia Coppola to create the Generation Gap campaign. It had a multigenerational cast made up of musicians, actors, models, and other professionals. The campaign celebrated the timeless appeal of Gap Inc.’s clothing, bridging the gap between different age groups.
These marketing campaigns showcase Gap Inc.’s ability to tap into cultural moments and connect with its target audience on a deeper level. These campaigns exemplify GAP’s commitment to pushing boundaries, fostering connection, and redefining the notion of fashion in the modern world.
Gap Inc. – Marketing Strategies
Gap Inc. has become a trailblazer in the quick-changing and ever-evolving world of fashion retail, recognized for both its iconic clothing and its astute marketing strategies. Let’s explore the top marketing strategies that have propelled them to the forefront of the industry.
Brand Partnerships
Gap Inc. has leveraged strategic brand partnerships to expand its reach and tap into new markets. One notable collaboration was with Kanye West’s Yeezy brand in 2020. This partnership generated significant buzz and helped attract a younger, trend-conscious audience to Gap Inc.
Influencer Marketing
Gap Inc. has successfully utilized influencer marketing to engage with its target audience. They collaborate with social media influencers and fashion bloggers to showcase their products and create buzz. For example, partnering with influencers like Blair Eadie and Olivia Palermo helped drive excitement and visibility for GAP’s collections.
Seasonal Campaigns
Gap Inc. excels at launching seasonal campaigns that capture the essence of the moment. Their holiday-themed campaigns, such as Give Love and Meet Me in the Gap, create a sense of joy and togetherness, resonating with consumers during festive seasons and driving increased sales.
Gap | Meet Me In The Gap | Cher & Future
Social Media Engagement
Gap Inc. actively engages with consumers on social media platforms, fostering a sense of community and encouraging user-generated content. Their campaigns, like #GapLogoContest and #DressNormal Project, encourage followers to share their unique style, amplifying brand visibility and creating a two-way conversation.
Sustainable Initiatives
Recognizing the growing importance of sustainability, Gap Inc. has integrated eco-friendly practices into its marketing strategies. The launch of the Gap for Good campaign highlighted their commitment to ethical sourcing and sustainable production, appealing to environmentally conscious consumers.
Personalized Marketing
Gap Inc. employs data-driven strategies to deliver personalized marketing experiences. Through targeted email campaigns and customized recommendations based on consumer preferences, Gap Inc. creates a tailored shopping journey, enhancing customer satisfaction and loyalty.
Innovative Pop-Up Stores
Gap Inc. has embraced the concept of pop-up stores to create excitement and exclusivity. For example, they opened a pop-up store in New York City’s District to showcase limited-edition collections, generating a sense of urgency and attracting fashion-forward consumers.
Emotional Storytelling
Gap Inc. is known for its ability to evoke emotions through storytelling. Their campaigns often tell powerful narratives, connecting with consumers on a deeper level. The Back to Blue campaign, for instance, celebrated GAP’s denim heritage and resonated with customers through nostalgia and a shared love for timeless fashion.
Gap Inc. has demonstrated that creative and strategic marketing approaches are essential for long-term success in a sector where fashion trends come and go. Gap Inc. has showcased exemplary marketing strategies that marketers and start-ups can learn from. By studying and adopting these strategies, marketers can elevate their brands, forge meaningful connections with their target audience, and ultimately carve a successful path in the competitive marketplace. It is time to draw motivation from Gap Inc.’s audacious marketing strategy and unleash the power of innovation and creativity in our projects. The stage is set, and the audience awaits – it’s time to make our mark.
FAQs
When was Gap Inc. founded?
Gap Inc. was founded in the year 1969.
What are the brands under Gap Inc.?
The brands under Gap Inc. are Old Navy, Gap, Banana Republic, and Athleta.
What is the target audience of Gap Inc.?
Gap Inc.’s target market includes hip teenagers, fashion-conscious adults, and even kids, appealing to various generations looking for the newest trends.
Discover the world of luxury and sophistication with Hermès, a renowned fashion brand that embodies grace and classic style. Hermès has established itself as one of the most prestigious and sought-after brands in the global fashion industry, with a rich history and tradition spanning over five generations.
What began as a humble saddlery and fine equestrian leather goods business has evolved into a powerhouse of luxury, with a presence in 311 stores across the United States, Russia, and Asia. Employing over 15,000 talented individuals, Hermès is an emblem of craftsmanship and refinement.
Impressively, Hermès boasts staggering figures that reflect its success and prominence. With revenues surpassing USD 8.3 billion and profits exceeding USD 1.8 billion, this illustrious brand continues to dominate the luxury market. As of June 2023, Hermès held a market capitalization of a staggering $220.67 billion, making it the 44th most valuable company globally.
Hermès’s marketing strategies, in particular, have been crucial to the company’s outstanding successes. By positioning itself as a symbol of class and exclusivity, the brand has cultivated a devoted following of discerning customers. Emphasizing quality, attention to detail, and impeccable design, Hermès has captured the hearts of fashion enthusiasts worldwide.
Hermès maintains its success by keeping a close eye on the future. Its main market continues to be the Asia-Pacific region, which accounts for an impressive 47% of all sales. Hermès saw a notable revenue increase of over 20% in 2022, totaling roughly 11.6 billion euros. The brand’s exceptional growth in the region—a staggering 44.6% at constant exchange rates compared to 2020 and an astonishing 65% over 2019—is a testament to its unwavering popularity.
You can not help but be enthralled by the allure of Hermès today as you walk through the streets of Paris or any other significant fashion capital. A true icon in the world of luxury, this family-owned company continues to redefine the boundaries of elegance and sophistication, leaving an indelible mark on the fashion industry for generations to come.
Hermès appeals to a discerning target audience seeking exclusivity and the epitome of luxury. The brand attracts affluent consumers with a higher disposable income, encompassing both men and women across various age groups, but with a focus on middle-aged and older demographics. Geographically, Hermès enjoys popularity globally, with a strong presence in the Asia-Pacific region, contributing to 47% of its total sales. However, its appeal extends to Europe, North America, and beyond. Hermès’s target audience values exceptional quality, craftsmanship, and exclusivity. Whether it’s a professional seeking a statement handbag, an accessories connoisseur, or a luxury goods collector, Hermès captures the hearts of those willing to invest in timeless elegance. Understanding the desires and aspirations of its target audience, Hermès continues to be the pinnacle of luxury, inviting the elite to indulge in a world of unparalleled sophistication.
Hermès – Marketing Mix
Hermès has mastered the art of captivating its audience through a meticulously crafted marketing mix. With a blend of strategic elements, Hermès has consistently positioned itself as a symbol of elegance and exclusivity.
Product
At the heart of Hermès’s marketing mix lies its impeccably designed and meticulously crafted products. From the iconic Birkin and Kelly handbags to silk scarves and luxury timepieces, Hermès offers a range of exquisite items that embody the brand’s commitment to craftsmanship and quality. Every product is a testament to the brand’s heritage and attention to detail, appealing to discerning customers seeking timeless elegance.
Hermès Birkin Bag
Price
Hermès maintains an aura of exclusivity through its pricing strategy. The brand strategically positions its products at premium price points, reflecting their superior craftsmanship and status as coveted luxury items. By pricing its products higher than its competitors, Hermès creates a sense of scarcity and prestige, appealing to a target audience willing to invest in the finest quality and unique designs.
Promotion
Hermès’s promotional efforts are characterized by a blend of understated sophistication and storytelling. The brand leverages high-fashion editorials, celebrity endorsements, and collaborations with renowned artists to create buzz and maintain its desirability. Hermès also embraces digital platforms, engaging customers through captivating social media campaigns and immersive online experiences. By balancing exclusivity with strategic promotion, Hermès maintains a sense of allure that resonates with its audience.
Place
Hermès carefully curates its distribution channels to maintain an air of exclusivity and control over its brand image. The brand operates its own flagship stores in key global fashion capitals, ensuring a seamless and luxurious retail experience for customers. Hermès also chooses prestigious department stores and boutiques as its authorized retailers to make sure that its products are offered in specially curated spaces that are consistent with the brand’s values.
Hermès maintains its position as a premier icon of luxury fashion by meticulously balancing every component of its marketing mix and winning the hearts of discerning customers all over the world.
Hermès has a rich history of captivating marketing campaigns that seamlessly blend artistry, storytelling, and luxury. Two standout campaigns include “Le Flâneur d’Hermès” (The Hermès Stroller) and “J’aime mon carré” (I Love My Scarf).
Le Flâneur d’Hermès embraced the concept of the flâneur, showcasing Hermès products in unexpected settings, such as a silk scarf draped over a lamppost or a handbag casually placed on a park bench. This whimsical campaign invited consumers to envision themselves as sophisticated wanderers, adding an air of intrigue and allure to Hermès products.
The “J’aime mon carré” campaign celebrated the iconic Hermès silk scarf by encouraging customers to share their personal stories and creative interpretations of the scarf. Through a dedicated website and social media platforms, individuals showcased how they incorporated the scarf into their lives. This interactive campaign fostered a sense of community among Hermès enthusiasts while highlighting the versatility and timelessness of the brand’s silk scarves.
Hermès J’aime mon carré New York
These campaigns serve as excellent examples of Hermès’s capacity to captivate audiences through creative storytelling and comprehension of their needs. Hermès maintains its position as a premier luxury fashion house by developing memorable and immersive experiences that enhance brand recognition.
Hermès – Marketing Strategies
Hermès has mastered the art of captivating its audience through a range of strategic marketing strategies. From impeccable product design to immersive brand experiences, Hermès employs a blend of innovative approaches to solidify its position as a leading fashion house. Here, we delve into key marketing strategies that have propelled Hermès to the forefront of the luxury industry.
Exclusivity and Scarcity
Hermès strategically maintains an aura of exclusivity by producing limited quantities of its highly coveted products. By carefully controlling supply and creating a sense of scarcity, Hermès fuels desirability and drives up demand. The most notable example of this strategy is the iconic Birkin bag, which has a notoriously long waiting list, making it a symbol of status and exclusivity.
Artistic Collaborations
Hermès collaborates with renowned artists and designers to infuse its products and campaigns with a unique artistic flair. For instance, the brand teamed up with Japanese artist Hiroshi Sugimoto to create a limited-edition silk scarf collection inspired by his iconic seascapes. These collaborations not only add a distinct artistic touch but also generate buzz and attract new audiences.
Hermès Collaboration with Hiroshi Sugimoto
Storytelling
Hermès excels in crafting compelling narratives around its products, bringing them to life through storytelling. The brand’s The Gift of Time campaign beautifully illustrates this strategy, showcasing the craftsmanship and heritage behind their timepieces. By sharing the stories of their artisans and the intricate details of watchmaking, Hermès creates an emotional connection with its audience.
Hermès – The Gift of Time
Heritage and Tradition
Hermès leverages its rich heritage and tradition to reinforce its brand identity. For example, the brand’s Harnessing the Roots campaign highlighted its origins in saddlery and equestrian goods, emphasizing the enduring craftsmanship that has been passed down through generations. This strategy resonates with customers who appreciate the brand’s history and craftsmanship.
Exceptional Customer Service
Hermès places a strong emphasis on providing exceptional customer service, creating a personalized and luxurious shopping experience. Customers are treated with utmost care and attention, with dedicated sales associates offering personalized recommendations and guidance. This commitment to customer service fosters loyalty and word-of-mouth recommendations.
Digital Engagement
While rooted in tradition, Hermès has embraced digital platforms to engage with a wider audience. The brand’s playful and interactive Hermèsmatic campaign invited customers to bring their vintage scarves to specially designed washing machines in select stores, where they were transformed into vibrant, one-of-a-kind pieces. This fusion of technology and creativity generated buzz and social media engagement.
Sustainability and Ethical Practices
Hermès integrates sustainability and ethical practices into its marketing strategies, aligning with the values of environmentally conscious consumers. The brand has implemented initiatives such as using ethically sourced materials and investing in responsible production methods. By promoting these initiatives, Hermès appeals to socially aware consumers seeking luxury brands with a commitment to sustainability.
Experiential Events
Hermès creates immersive brand experiences through experiential events, inviting customers to engage with the brand beyond the traditional retail setting. For example, the Hermès Silk Mix pop-up events combined art, music, and fashion to showcase the versatility of Hermès silk scarves. These events provide an opportunity for customers to connect with the brand on a deeper level and experience its values firsthand.
With the help of these tactics, Hermès continues to influence the luxury market and enchant consumers with its enduring elegance and artistry. Marketers and start-ups can learn from Hermès’ success by embracing creativity, utilizing the power of storytelling, and emphasizing customer experiences. By adopting these strategies, marketers can create memorable brand experiences that resonate with their target audience and leave a lasting impact. So, take a page from Hermès’s playbook and elevate your marketing game to new heights. The world is waiting for your brand to make its mark.
FAQs
What is the target audience of Hermès?
Hermès appeals to a discerning target audience seeking exclusivity and the epitome of luxury. The brand attracts affluent consumers with a higher disposable income, encompassing both men and women across various age groups, but with a focus on middle-aged and older demographics.
What is the Hermèsmatic campaign about?
Hermès’ playful and interactive Hermèsmatic campaign invited customers to bring their vintage scarves to specially designed washing machines in select stores, where they were transformed into vibrant, one-of-a-kind pieces.
What are the two standout marketing campaigns of Hermès?
Two standout campaigns of Hermès include Le Flâneur d’Hermès (The Hermès Stroller) and J’aime mon carré (I Love My Scarf).
Alibaba, founded by Jack Ma in 1999, has become a global e-commerce empire that revolutionized online commerce. Starting with Alibaba.com, the world’s largest B2B marketplace, the company expanded its services to include C2C and B2C marketplaces, logistics, payment platforms, and cloud computing. With total sales of $1 trillion in 2021 and a dominant market share in China’s e-commerce market, Alibaba is the world’s largest retailer and e-commerce company. Its marketing strategies, known for inclusivity and innovation, have played a vital role in its success. Alibaba’s campaigns, such as the 11.11 Global Shopping Festival, leverage boldness, creativity, and personalized recommendations to cater to its diverse customer base. With over 1 billion annual active consumers and 10 million active sellers, Alibaba’s global reach continues to expand. Through its commitment to innovation and customer satisfaction, Alibaba maintains its strong position in the competitive e-commerce market.
Alibaba targets a diverse global market, catering to various demographics and geographies. Its consumer and business platforms serve a broad range of age groups, genders, and income levels. With a dominant presence in China, Alibaba is expanding internationally, focusing on emerging markets. Convenience, value, and a seamless shopping experience are key for its target market. Personalized features, easy checkout, and hassle-free returns enhance the customer experience. Alibaba’s marketing campaigns are tailored to resonate with specific audiences. Its target market embraces online shopping and new technologies, with mobile optimization and investments in AI and cloud computing. Alibaba’s success lies in its ability to cater to diverse audiences while delivering value and convenience.
Alibaba – Marketing Mix
As one of the world’s largest e-commerce companies, Alibaba’s success can be attributed to its effective marketing mix. The marketing mix is a combination of various elements that a company can use to influence consumer behavior and achieve its marketing objectives. Alibaba’s marketing mix includes four key elements: product, price, promotion, and place.
Product
Alibaba offers a wide range of products and services, catering to both consumers and businesses. Its product portfolio includes consumer-to-consumer (C2C) and business-to-consumer (B2C) marketplaces, logistics and payment platforms, cloud computing, and more. Alibaba’s product offerings are designed to meet the needs of a diverse customer base, with a focus on quality, affordability, and convenience.
Price
Alibaba’s pricing strategy is based on offering value to its customers while remaining competitive in the market. Its pricing is transparent and competitive, with a focus on providing affordable options for consumers and businesses. The company’s pricing strategy also includes discounts and promotions, such as its annual 11.11 Global Shopping Festival, which offers massive discounts on a wide range of products.
Promotion
Alibaba’s promotion strategy is characterized by its bold and innovative marketing campaigns. The company’s marketing efforts are designed to be inclusive and creative, catering to the unique needs of its diverse customer base. Its iconic 11.11 Global Shopping Festival, for example, is a prime example of its promotional strategy, featuring celebrity endorsements, massive discounts, and a range of other incentives to drive consumer engagement.
Place
Alibaba’s place strategy is focused on providing convenient access to its products and services. The company’s online platforms, such as Taobao and Tmall, are accessible through desktop and mobile devices, making it easy for customers to shop anytime, anywhere. Alibaba’s logistics platform also provides a seamless shipping and delivery experience, ensuring that customers receive their orders quickly and efficiently.
Alibaba’s marketing mix is a key driver of its success in the e-commerce industry. The company’s focus on innovation and customer satisfaction has made it a force to be reckoned with in the global e-commerce market.
Alibaba, the Chinese e-commerce giant, has run many successful marketing campaigns over the years, utilizing innovative and creative tactics to engage its customers. These campaigns have helped the company become one of the largest e-commerce platforms in the world, with a reputation for being a leader in the industry. Here are some of Alibaba’s top marketing campaigns:
“Double 11” Global Shopping Festival
This annual shopping event, also known as Single’s Day, was started by Alibaba in 2009 and has since grown into the world’s largest online shopping event. The festival features massive discounts, promotions, and celebrity endorsements, and has been successful in generating huge sales for Alibaba and its merchants.
What is 11.11?
Tmall Super Brand Day
This marketing campaign features a series of promotional events for brands on Alibaba’s Tmall platform. The events are designed to showcase the brands’ products and generate buzz among consumers. Tmall Super Brand Day has been successful in driving sales and increasing brand awareness for participating companies.
Alibaba Cloud’s “Simple is Best” Campaign
This marketing campaign for Alibaba’s cloud computing division focuses on the simplicity and ease of use of its services. The campaign features a series of videos and online ads highlighting the benefits of Alibaba Cloud, such as its scalability and security features.
Alibaba’s “New Retail” Initiative
This marketing campaign is focused on Alibaba’s vision for the future of retail, which involves integrating online and offline shopping experiences. The campaign features a range of initiatives, such as the Hema supermarket chain, which uses technology to enhance the shopping experience, and the Tao Cafe, which allows customers to order food using facial recognition technology.
Alibaba’s Tao Cafe develops an unstaffed concept store
Alibaba’s marketing campaigns have been successful in promoting the company’s brand and products, and have helped establish the company as a leader in the e-commerce industry. The company’s innovative and creative marketing strategies continue to drive growth and engagement with customers around the world.
Alibaba – Marketing Strategies
Alibaba has become a household name around the world, with its innovative and creative marketing strategies playing a significant role in its success. Here are the top marketing strategies that have helped Alibaba become one of the most valuable companies in the world:
Cross-Promotions
Alibaba has partnered with other companies to offer cross-promotions, which has helped the company expand its customer base and increase sales. The company has collaborated with brands such as Starbucks and KFC to offer exclusive discounts and promotions.
Content Marketing
Alibaba uses content marketing to engage with customers and build brand awareness. The company produces high-quality content, including videos and blog posts, that showcase its products and services.
Artificial Intelligence
Alibaba uses artificial intelligence to personalize the customer experience and make recommendations based on customer behavior. The company’s algorithms analyze customer data to offer personalized recommendations and promotions.
Influencer Marketing
Alibaba has leveraged influencer marketing to promote its products and services. The company has partnered with popular influencers on social media platforms like WeChat and Weibo to promote its products and reach a wider audience.
Alipay
Alibaba’s digital wallet, Alipay, has become a popular payment option for customers in China and beyond. The platform offers convenience and security, and the company has used Alipay to offer exclusive discounts and promotions.
Augmented Reality
Alibaba has experimented with augmented reality to enhance the customer experience. The company has developed AR-based games and apps that allow customers to interact with products and make purchases in a fun and engaging way.
Social Commerce
Alibaba has integrated social commerce into its platform, allowing customers to share and promote products on social media platforms. The company has also launched its own social commerce platform, TaoBao Live, which allows influencers to promote products to their followers in real time.
Globalization
Alibaba has expanded its reach beyond China, launching international platforms like AliExpress and Tmall Global to reach customers around the world. The company has also invested in other companies to expand its global footprint.
Customer Service
Alibaba places a strong emphasis on customer service, offering a range of support options, including live chat, email, and phone support. The company’s commitment to customer service has helped build loyalty and trust with its customers.
Alibaba’s marketing strategies have helped the company become one of the most valuable companies in the world. The company’s focus on innovation and creativity has allowed it to stay ahead of the competition and build a strong brand reputation. Alibaba’s continued investment in technology, content marketing, and customer service will undoubtedly shape the future of e-commerce and set new standards for the industry.
These marketing strategies have revolutionized the world of e-commerce and have set a new standard for businesses looking to establish a strong brand identity and build a loyal customer base. Alibaba has used a variety of innovative and creative tactics to engage customers and drive sales.
The commitment to globalization and expanding its reach beyond China is also a lesson for businesses looking to enter new markets and expand their customer base. By investing in international platforms and collaborating with local partners, businesses can establish a strong presence in new markets and reach a wider audience.
Alibaba’s marketing strategies have set a new standard for businesses looking to establish a strong brand identity and engage with customers in innovative and creative ways. By incorporating these strategies into your own marketing plans, marketers and startups can establish themselves as industry leaders and drive success in the competitive world of e-commerce.
FAQs
Who is the founder of Alibaba?
Alibaba was founded by Jack Ma in the year 1999.
What are the services offered by Alibaba?
Starting with Alibaba.com, the world’s largest B2B marketplace, the company expanded its services to include C2C and B2C marketplaces, logistics, payment platforms, and cloud computing.
What is the “Double 11” Global Shopping Festival about?
Double 11 also known as Single’s Day, was started by Alibaba in 2009 and has since grown into the world’s largest online shopping event. The festival features massive discounts, promotions, and celebrity endorsements, and has been successful in generating huge sales for Alibaba and its merchants.
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The value of coaching has increased significantly in today’s constantly changing corporate world. Just like a sports coach helps an athlete achieve his potential, a workplace coach guides employees to build skills, enhance performance, and meet organizational and individual goals.
When it comes to corporate coaching, you can’t ignore BetterUp’s contribution to the industry. The California-based company connects employees with certified executive coaches who can help them grow professionally and emotionally. Let’s dig in to learn more about BetterUp, including its founders, startup story, products, funding, challenges, growth, and more.
BetterUp is a mobile-based company delivering transformative coaching experiences to individuals and workforces to drive productivity, engagement, and retention at scale in the companies. Top organizations, including Workday, Federal Aviation Administration, and Google, trust the company.
BetterUp helps businesses invest in their employees, boasting a 130% increase in job performance via its platform. Moreover, its solutions helped companies increase retention by 68%, bet new sales by 7x, and productivity by 66%.
BetterUp – Industry
The global market size of the corporate training and coaching industry was valued at $151.75 billion in 2021 and is projected to grow to $487.3 billion by 2030, with a CAGR of 8%. Corporate coaching involves training and learning activities to empower employees to perform better in the workplace.
The Covid-19 pandemic negatively impacted the industry by causing 195 million job losses worldwide. Some companies that still maintain top positions in the corporate coaching and training industry are Skillsoft, LinkedIn Learning, Udemy for Business, Pluralsight, Cornerstone on Demand, and OpenSesame.
BetterUp – Founders and Team
Alexi Robichaux and Eduardo Medina are the co-founders of BetterUp.
Alexi Robichaux
Alexi Robichaux – Co-founder and CEO, BetterUp
Alexi Robichaux attended the University of Southern California for a B.A. in Political Science and Public & Non-Profit Management. He has been the Partner and CFO at The Glenroe Group, Product Manager at Socialcast, and Director at VMware. At present, Alexi is the Co-founder and CEO of BetterUp.
Eduardo Medina
Eduardo Medina – Co-founder and COO, BetterUp
Eduardo Medina completed a B.S. in Business from the University of Southern California and an MBA from the University of California, Berkeley, Haas School of Business. He is the ex Associate Consultant of Bain 7 Company, Associate of Altamont Capital Partners, and Growth Consultant of Envisions Schools. Now Eduardo is the Co-founder and COO of BetterUp.
BetterUp is a team of over 3,000 coaches, 50+ behavioral scientists, and 500+ employees.
BetterUp – Startup Story
Alexi Robichaux and Eduardo Medina founded BetterUp in 2013. After Alexi’s first startup was acquired, he found himself in an unexpected place. At 25, he became a Fortune 1000 company executive and regularly met with the CEO. At board meetings, he felt like being the court jester among 50, 60-year-old senior leaders. Public speaking was not a big deal for him, but during that period, he felt nauseated as he hoped to make it through without becoming physically ill.
He was pretty discombobulated through that experience and wasn’t caring for himself. Finally, he realized he needed a pause and take time off from work. He read positive psychological books and talked to therapists, but none worked. At last, he went hiking in Spain, and through personal coaching, communicating with colleagues, and endless soul searching, he realized the problem: himself.
Tired of struggling emotionally and physically, Alexi decided to make a change. He wanted to prove to himself and Silicon Valley that it was possible to build a startup without trading between peak performance and taking care of yourself and the people around you. So, he and co-founder Eddie Medina incorporated BetterUp, a coaching platform to connect employees with certified executive coaches who could help them grow their careers.
BetterUp – Mission and Vision
BetterUp’s mission is to help people everywhere pursue their lives with greater clarity, purpose, and passion.
BetterUp – Business Model
Every aspect of the BetterUp experience, including personalized coaching programs, learning content, customized reporting, etc., is scalable across the client’s organization. The company delivers personalized coaching and learning via one-on-one and group experiences aligned with personal and business goals. Its platform runs on the built-in brain power of the leading global behavioral scientists and H.R. thought leaders.
Although BetterUp’s methods are backed by science and powered by technology, its approach is human. It matches employees with the best-in-class coach using A.I. to unlock their potential and improve their performance, purpose, and mental well-being.
BetterUp – Revenue Model
BetterUp generates revenue by charging a fee to customers using their professional and research-driven coaching services.
BetterUp – Products and Services
BetterUp offers two products- Lead and Care, along with Sales Performance, Executive, and Diversity & Inclusion solutions.
In April 2022, BetterUp announced to modify its coaches’ contracts which stirred up a revolt within the company. Two key issues were coaches’ pay and a new rating system influencing coaches’ fees. The company announced a plan to cut the stipend coaches used to research clients, note-taking, and assign activities.
BetterUp – Funding and Investors
Over 7 funding rounds, BetterUp has raised a total of $566.9 million. Series E is the company’s latest funding round and was conducted on October 8, 2021. 25 investors back the company, and the main ones are Mubadala Capital Ventures, Morningside Venture Investments, ICONIQ Growth, Lightspeed Venture Partners, and Wellington Management.
Date
Round
Number of Investors
Money Raised
Lead Investor
October 8, 2021
Series E
9
$300 million
ICONIQ Growth, Lightspeed Venture Partners, and Wellington Management
February 25, 2021
Series D
9
$125 million
ICONIC Growth
June 12, 2019
Series C
7
$103 million
Lightspeed Ventures Partners
March 28, 2018
Series B
5
$26 million
Lightspeed Ventures Partners
November 16, 2016
Series A
6
$10 million
Threshold
November 6, 2016
Seed Round
7
$2.9 million
–
April 1, 2015
Pre Seed Round
1
–
–
BetterUp – Mergers and Acquisitions
BetterUp acquired 2 companies, including Impraise on September 17, 2021, and Motive Software on September 17, 2021.
BetterUp – Growth
In February 2021, BetterUp witnessed a growth in customer base by 80%, with a revenue retention rate of 170%. Moreover, the company reached $100 million in annual recurring revenue later in July 2021.
In the first half of 2021, it achieved an aggressive 2x growth. BetterUp’s valuation grew from $125 million in 2019 to $1.7 billion in February 2021 and $4.7 in October 2021. Furthermore, the company doubled its corporate employee headcount to 500+ in the latter half of 2021.
What Is BetterUp?
BetterUp – Partners
BetterUp has partnered with the following:
Carahsoft Partner
International Coaching Federation
Invictus Games Foundation
U.S. Air Force
BetterUp – Awards and Achievements
BetterUp has won many awards and recognitions, including:
Great Place to Work and Fortune named one of the 2022 Best Small & Medium Workplaces.
Won Brandon Hall 2020 Group Gold for Excellence in Technology Award.
Inc. Magazine included BetterUp on the Annual List of Best Workplaces for 2020.
BetterUp – Competitors
Here listed are BetterUp’s main competitors:
CoachHub
Ezra
AceUp
Simply.Coach
Ceresa
ClientFol.io
LifeLabs Learning
FAQs
What does BetterUp do?
BetterUp is a mobile-based company delivering transformative coaching experiences to individuals and workforces to drive productivity, engagement, and retention at scale in the companies.
Who are the founders of BetterUp?
Alexi Robichaux and Eduardo Medina are the co-founders of BetterUp.
Abira Dutta
