StartupTalky

Blog

  • Best Video Ad Tips That Will Help Boost Your Sales

    Video advertisements are the best way to communicate about your product. When we see ads on YouTube, we are more likely to go to their website. Also, we remember more about them. You can convey a message, show the uses of your product, and then convince viewers to buy it. A video conveys a huge amount of information in a very short time.

    Hence, where you need a whole bag of articles just to explain a product, a 20-second video will do the job. According to a recent study by Wyzowl, 91% of consumers want to see more video content from the brand or company they follow, and 91% of businesses use video as a marketing tool in 2023. So, if you have made up your mind to create a video ad, here are some tips for you. Keep these in mind while making your video ad. You can use them in both animation and video shoots.

    Leverage the First Few Second
    Write a Solid Script
    Bring Your Storytelling Skill
    Keep The Video Short and Simple
    Place CTA Smartly
    Be Funny or Don’t Be Funny
    Design Thumbnails
    Run A/B Tests
    Know The Platform
    Choose The Right Typography
    Add Relevant Music Track
    Highlight Your Brand

    Percentage of People Who Want to See More Online Video From Brands
    Percentage of People Who Want to See More Online Video From Brands

    Leverage the First Few Second

    However, this is a very common strategy nowadays, but when I first saw an ad that says “Wait! Don’t skip the ad”, I was kind of hypnotized. I knew I’m not interested in their product, but I still watched their video. This is because they told us to wait at the very beginning. So, focus on the first few seconds of your video ad. Try to show the problem you are solving. Once people get an idea of what you are selling, they will decide whether to skip the ad or not. You have only the first 5 seconds. So, focus on those 5 seconds of summer. I mean, 5 seconds of video.

    Write a Solid Script

    Even if you are making an animated video, use a script. Don’t play it in the air. You need a plan. Scripts are very helpful to know what you want. There are many rules you have to follow while writing a script.

    So, if you don’t know how to write a good script, then hire someone who does. Your advertisement will be used for weeks or months or even years. So, make it professional. Invest a good amount.

    Bring Your Storytelling Skill

    Who doesn’t love stories? Storytelling is a powerful tool that can captivate the audience’s attention and help them relate to your product or service. To create an engaging video ad, consider incorporating a story that is relevant to the problem your product solves. It could be a story from one of your clients, or you can create one from scratch.

    One of the most successful examples of storytelling in an advertisement is search Samsung‘s. Their ads connect with people’s emotions, making them want to watch them repeatedly. Similarly, Maruti’s car ads tell short stories about their customers, evoking nostalgia and emotional attachment.

    By telling a story in your video ad, you can create a memorable experience for your audience and increase the chances of them remembering your product or service. So, take some time to craft a compelling story that resonates with your target audience, and watch your sales soar!

    search Samsung Customer Service Campaign | Storytelling in Ads

    Keep The Video Short and Simple

    Try making a short video. People skip the video after looking at the timing of the video. So, in this era of reels, try making a short video and include all the main features of your product, or just focus on one feature and make a video on each feature of your product. But that is only if you have a big bag of money lying around. Moreover, don’t use Jargon in your videos, and keep it as simple as possible.

    Place CTA Smartly

    Call to action is important in all kinds of advertisements. Ask your viewer to perform some particular action, at the end of your video. It can be anything like calling your number, visiting your website, signup for it, etc. You can also provide some rewards like discounts or free delivery on that CTA.

    Top Types of Video Ads Marketers can use to Promote their Brand (With Examples)
    Want to accelerate your growth by video advertising? Here are some of the best video advertising campaign ideas you can use to promote your brand.
    StartupTalkyMuskaan Kapoor

    Be Funny or Don’t Be Funny

    Everyone loves watching funny ads again and again. And this is the era of memes. So, make a funny advertisement that can grab everyone’s attention. It should be capable of creating a buzz among people. But if you are not funny, then don’t act like one. Be original. If you make a funny ad that is funny only from your perspective, then nothing will be crazier than your ad.

    Believe me, nothing can be more terrible than laughing alone at your own joke. It can even have negative results. So, if you are not funny, you should take help from agencies to make your ad creative.

    Design Thumbnails

    Many people keep the autoplay mode disabled, which is why it’s essential to have an attention-grabbing thumbnail that forces them to hit the play button. If you are not a professional designer you may consider hiring a professional graphic designer to create an eye-catching thumbnail.

    A well-designed thumbnail can make all the difference in getting your video noticed among countless others. It should accurately represent your video’s content and convey a clear message to the viewer about what they can expect to see. Additionally, the video should be visually appealing, with bold colors, clear typography, and high-quality imagery.

    By investing in a professional thumbnail design, you can increase the likelihood of your video being clicked and watched, ultimately leading to increased engagement and potential sales.

    Run A/B Tests

    To maximize the effectiveness of your video ad campaign, it’s essential to conduct A/B testing. This involves creating multiple versions of your video and testing them against each other to see which performs better.

    When running A/B tests, it’s important to have a clear objective and measure specific metrics such as click-through rates, conversion rates, and engagement rates. By analyzing these metrics, you can identify which version of your video is resonating better with your target audience and make necessary changes to optimize your campaign. So, make sure to invest time and resources into A/B testing to ensure your video ad campaign is a success.

    Know The Platform

    When it comes to video ad campaigns, it’s crucial to understand the platform you’ll be using. Different platforms have varying requirements for video dimensions, aspect ratios, and content length, as well as guidelines for titles, descriptions, and posting times. By understanding the platform-specific requirements, you can optimize your videos to fit within each platform and capture the attention of your target audience.

    Font type puts an impact on the audience. The audience may be distracted if you choose the wrong typography. It’s important to research and test different fonts to determine which works best for headings and paragraphs, as well as which are most suitable for your target audience. By paying attention to these details, you can create visually appealing and effective videos that resonate with your audience and drive conversions.

    9 Best Advertising Platforms for Brand Campaigns to Run On
    Are you planning to video advertise your brand campaign? Here are the top 9 platforms to try for your next brand campaign and to run video ads.
    StartupTalkyAlan Joseph

    Add Relevant Music Track

    Adding relevant music to your video can be a powerful tool to engage and connect with your audience. When choosing music, it’s important to consider your video’s objective and target audience to ensure that the music aligns with your overall message.

    Music can help to enhance the emotional impact of your video and create a memorable experience for your viewers. When done correctly, the right music can help to connect the story of your video and create a stronger brand impression.

    Highlight Your Brand

    It’s essential to establish a strong visual identity for your brand, starting with your brand colors and logo design. By identifying your brand colors and designing a logo that reflects your brand’s personality and values, you can create a consistent and recognizable image for your brand.

    Once you have established your brand identity, it’s important to maintain it across all of your video marketing efforts. This includes using your brand colors and font guidelines consistently throughout your videos, as well as adding custom intros and outros that reflect your brand’s personality and style.

    Conclusion

    In conclusion, video ads are an excellent way to communicate your message to a broad audience. While it’s important not to neglect other marketing channels, it’s worth investing time and resources into creating effective video ads. There are multiple platforms available to market your video ads, such as YouTube, Instagram, and Facebook, and it’s essential to choose the platform that aligns with your target audience and marketing goals.

    Overall, video ads have enormous potential to increase brand awareness, generate leads, and drive sales. By investing time and resources into creating high-quality video ads, you can establish a strong brand identity and build a loyal customer base over time.

    FAQs

    How do you make a video ad more effective?

    You can make a video ad more effective by leveraging the first few seconds, writing a solid script, keeping the video short and simple, adding a relevant music track, etc.

    Should video ads have music?

    Music can help to enhance the emotional impact of your video and create a memorable experience for your viewers. So, adding relevant music to your video can be a powerful tool to engage and connect with your audience.

    How can I highlight my brand in video ads?

    You can highlight your brand by using your brand colors and font guidelines consistently throughout your videos, as well as by adding custom intros and outros that reflect your brand’s personality and style.

  • Top Education Startups Deserving Attention in 2023

    The field of education has recently undergone a technological revolution. This occurrence is because new Edtech businesses invest venture capital in launching cutting-edge innovations yearly, including interactive learning applications and online certification platforms. This article covers the top education startups you must consider in 2023.

    Coursera is one of the best educational startups

    Coursera is a platform that offers open online courses and collaborates with nearly 250 universities and companies. It offers certificates and degrees in a range of areas. Learners at Coursera have the opportunity to progress at their own pace through their courses. More than 100 million people may take classes via Coursera, which provides numerous free courses from renowned higher education institutions, including Stanford and Yale, to make learning accessible to all students. Coursera is among the top education startups to pay attention to since it provides an extensive range of subjects and degrees.

    ClassTag

    ClassTag is a unique education startup concentrating on the parent-teacher connection rather than the pupils. It is the responsibility of both parents and instructors to nurture minds for learning. Consequently, learning institutions hold parent-teacher conferences, which encourage communication and improve learning conditions for pupils both at home and in school. The primary goal of ClassTag—established in 2015 by Vlada Lotkina—is to create a sense of community in the classroom. The startup uses the combined efforts of parents and teachers to meet the requirements of the students. Professors may use the service to plan conferences, coordinate events, and create newsletter campaigns to keep the lines of communication open. Nowadays, prestigious public and private educational institutions are using ClassTag. The site adopts from companies the concept of involving employees in initiatives that align with their interests, notably in fundraising and voluntary activities. Parents take advantage of the chances offered by websites such as ClassTag because they place a high value on their children’s education.

    Time Machine Tours

    It’s a well-known fact that many students regard history as among the most uninteresting subjects. Maybe it concerns how much the educational system relies on cumbersome texts and boring teaching strategies. Kyle Hudson launched the iOS app Time Machine Tours in 2015, slated to alter how people learn about history. Using GPS technology, users may pinpoint the precise location of photographers who shot old photographs. The application ranks among the best educational startups since it provides tours that employ augmented reality, allowing people to hold their smartphones over actual locations. This feature gives consumers the impression that they are looking into the past. This method of learning history is considerably more interesting than reading books in a library or classroom. At the moment, the locations offering Time Machine Tours include Washington DC, Philadelphia, Chicago, and New York. While new locations and information are introduced regularly, there hasn’t been any mention of a significant expansion through crowdfunding or grants.

    Knewton

    Knewton—an Edtech business established in 2008—offers students mathematics, science, technology, and engineering courses. Knewton Alta—a recent product—combines open learning resources with adaptive learning technologies. Knewton is one of the top education technology startups because its sophisticated algorithm can recognize a learner’s level of development and make adjustments to maximize the learner’s experience. Through partnerships with companies such as Alinea and FitchLearning, Knewton offers low-cost solutions, ensuring that the learning process is accessible to everyone.

    CustomWritings is among the top education technology startups

    This essay service focuses on writing abilities, particularly academic writing. CustomWritings uses a personalized approach to help students with their academic struggles. An essay writer with the necessary credentials is assigned to consult with, edit, and produce samples on request when a client outlines the specifics of the assignment they’re having trouble with. Most users are college learners experiencing difficulties with certain paper formats or want to develop confidence by using improved structure, spelling, grammar, or style. The company’s exceptional adaptability and capacity for customization allow it to offer cheap services, drawing customers from many spheres of life worldwide.

    Peergrade

    Accepting criticism is among the best ways to learn outside of reading books and acquiring experience. Indeed, instructors often provide evaluations and analyze students’ performance. Peergrade is one of the best education technology startups since it enables learners to examine and grade one another’s papers via peer evaluation sessions. The initial purpose of Peergrade—established in 2015 by co-founders Simon Lind, Malthe Jrgensen, and David Kofoed Wind—was to assist instructors in keeping up with an increasing number of pupils while still giving them the individualized attention and fair grading they merit. The platform enables professors to choose the standards for assessment while creating online projects. Each time a learner submits their homework, it passes via the other learners for peer review. The instructor may obtain a complete session summary once all feedback has been provided. Top universities in Denmark and its neighboring nations are currently using Peergrade. Furthermore, their website offers a free service that interested businesses may employ.

    Duolingo

    Duolingo offers great teaching resources and fosters a positive learning environment for anyone interested in learning a foreign language. As part of its innovative strategy for teaching languages, Duolingo develops assessments, including the Duolingo placement test, by applying deep learning AI capabilities to evaluate data. The application delivers a game-like experience for users by providing exciting bite-sized courses that are accessible on the move from a smartphone. Duolingo proposes an approach that aids students with long-term language retention while disguising it as an entertainment tool. It is a noteworthy startup for language learning since it offers over 50 languages.

    Teachers Pay Teachers

    Teachers Pay Teachers (TpT) is an online marketplace service that enables teachers to exchange educational materials with one another, simplifying the process of obtaining resources whenever they need them. With more than 7 million members and over 1 billion materials downloaded to date, TpT was developed by instructors for instructors. Users may access a variety of resources, such as:

    • Assessments
    • Entire Unit Lessons
    • Video
    • Special Education
    • Digital Learning

    TpT has made an impression since it was named among the top 50 most innovative services. This company’s business model makes the work of those procuring teaching materials easy.

    Simply

    Simply is a collection of applications that educate individuals of all ages on using musical instruments online. It was developed by a group of expert musicians and programmers and is run on proprietary acoustic recognition software that examines the sound of students singing and playing and provides them with instantaneous feedback. Simply makes studying music more accessible and less daunting since it’s cheaper than in-person classes with a music instructor and has an enticing user experience with hand-drawn illustrations and live videos. It is one of the best education startups since it offers solutions for anyone who enjoys music as a pastime or is just starting as a musician.

    Try out some of the best education startups to discover those that suit you in 2023

    Technology has influenced several facets of our everyday lives, but it requires commitment and effective marketing strategies to apply these developments to the educational field. These educational technology companies can improve classroom life for learners, assist with course advancements for administrators, let instructors keep track of their students, and even offer continuing education to those interested in changing careers. This list merely scratches the surface of the good ideas yet to be explored in this rapidly evolving technological world. These 9 educational startups are committed to using cutting-edge technology to improve education and give tomorrow’s leaders access to today’s resources.

  • Vikas D Nahar Success Story: From Happilo Founder to Shark Tank India Guest Shark

    Vikas D Nahar is an Indian businessman who has made a name for himself in the healthy food industry. He is the founder of Happilo International, a company that specializes in offering high-quality dried fruits, nuts, seeds, dates, hampers, and more. Despite facing numerous rejections, Vikas persevered and successfully raised funds for Happilo, which has now become a well-known health food brand.

    Vikas’s inspiring journey is one that many aspiring entrepreneurs can learn from. So, let’s read about the successful journey of the man who was rejected almost twenty times before his first fund raise for his company, Happilo, to appear as a guest judge on the popular television show Shark Tank India Season 2.

    Vikas D Nahar – Biography

    Name Vikas D Nahar
    Birthplace Bangalore, Karnataka, India
    Born 1984
    Education Bangalore University, Symbiosis Centre for Management & Human Resource Development, Pune
    Position Founder and CEO, Happilo

    Vikas D Nahar – Early and Personal Life
    Vikas D Nahar – Education and Career
    Vikas D Nahar – Establishing Happilo
    Vikas D Nahar – Shark Tank India
    Vikas D Nahar – Investments
    Vikas D Nahar – Awards and Recognitions
    Vikas D Nahar – Interesting Facts

    Gateway to Shark Tank India | Vikas D Nahar

    Vikas D Nahar – Early and Personal Life

    Vikas D Nahar was born in Bangalore in 1984. He belongs to a business family that has a agricultural business, growing coffee and pepper. Vikas’s father, Dhanmal Nahar, is a businessman. Right from his childhood, Vikas has always looked upon his father as his role model. By observing his father, he learned that patience, persistence, and fearlessness are the keys to success.

    Talking about his personal life, Vikas married Sunita Bansal on March 2, 2014. The couple has one daughter.

    Vikas has one brother, Veerendar Nahar, who is the Managing Director of Satvikk Speciality Foods Pvt. Ltd.

    Vikas D Nahar – Education and Career

    Vikas did his graduation in Computer Application from Bangalore University. Afterward, he attended the Symbiosis Centre for Management and Human Resource Development, Pune, to pursue an MBA in Marketing from 2008 to 2010. Before he enrolled himself for an MBA, Vikas served as a Senior Import Manager – Asia at Jain Group Pvt. Ltd. for three years.

    At Jain Group, Vikas successfully managed and maintained liaisons with international clients, specifically Asian clients. Besides this, he also implemented several procedures in the imports department, and he also handled customs clearance at the port in Chennai.

    During this time, Vikas Nahar was selected to be a part of the induction team. He offered new hires and team members training. Not only this, but he also has trading expertise on the MCX, NCDEX, NMCE, NSE, and BSE terminals.

    The seeds of entrepreneurship have always been buried in Vikas, since his preadolescent days, as his father was a businessman. After completing his studies, Vikas worked for a while in the family business. It was during that time that he understood his own qualities as an entrepreneur.

    In 2010, Vikas joined the company Satvikk Speciality Foods Pvt. Ltd. as the Managing Director. It is a health-focused food store that opened its first branch in Bangalore in December 2011. It is during his tenure that he accelerated business expansion with a dedication to quality, nutrition, and health. Intending to offer a variety of nutrient-rich tasting products while upholding the highest standards of quality, he worked diligently with his team to innovate and improve its products and processes. They were experts in premium spices, chocolates, organic foods, sugar-free foods, dry fruits, healthy drinks, cookies, juices, and snacks. It was his idea that he began with a small selection and gradually increased it to include about 40 different types of dry fruits, 100 different kinds of chocolate, and 60 different kinds of spices, giving their customers almost everything they could want. Today, Vikas’s brother, Veerendar Nahar, is the Managing Director at Satvikk Speciality Foods.

    Vikas D Nahar – Establishing Happilo

    After serving for almost five years at Satvikk and spending a few years at his family’s business, Vikas decided to start his very own company. It was in 2016 when he founded his company, Happilo.

    His initiative was to introduce a healthy way in which people would consume snacks. In the initial days, challenges were quite tough for Vikas. In an interview, he mentioned that he was rejected 20 times before he raised the first funding for his company.

    After discovering various ways and finding the right passion, Vikas introduced “Trail Mix” as its first product. Very soon, the product became an instant hit. Since then, Vikas’s Happilo hasn’t stopped pushing its limits.

    His company’s success was spoken, and today his company ships its goods in 40-foot containers instead of hand-counted small passenger autos like they used to do in the past.

    Vikas’s intention rightly emerged with his company, Happilo, which is a well-known brand of gourmet healthy snacks today. He founded his company by keeping the fundamental ideas of happiness and love in mind.

    His business also serves as the Rajasthan Royals’ illustrious Indian Premier League team’s title sponsor. It is commendable how he carried out his business within 7 years, starting with an initial investment of only Rs. 10,000, and now having an annual revenue run-rate of over Rs. 500 crores.

    From Seed to Snack: The Success Story of Happilo
    Happilo is a gourmet healthy food brand that offers a range of nuts, berries, trail mixes, etc. Check out the story of Happilo, its founder, its business model, and more.
    StartupTalkyShalini Rath

    Vikas D Nahar – Shark Tank India

    Vikas D Nahar | Shark Tank India
    Vikas D Nahar | Shark Tank India

    The popular show Shark Tank India has Vikas D Nahar as its guest shark for the grand finale of Season 2. A special “digital-only” episode on SonyLiv called “Gateway to Shark Tank India 2” aired, wherein aspiring business owners got the chance to interact with Vikas and other sharks and pitch their ideas to them.

    Being the founder of a leading health food brand in India worth Rs 500 crores, Vikas D Nahar is sure to add great value to the Shark Tank India team.

    Vikas D Nahar – Investments

    Vikas D Nahar made his recent investment on August 17th, 2022. He has invested in the company, The Health Factory, a Mumbai-based company that offers ‘pro-nutrition’ products and has created India’s first high-protein bread. Vikas made an investment of INR 2 crore in the company.

    Vikas D Nahar – Awards and Recognitions

    Vikas D Nahar has received numerous prestigious awards and recognitions, including:

    • Entrepreneur of the Year 2021 by the Indian Achievers Forum
    • ET Entrepreneur of the Year
    • SIAL Innovation Awards 2022
    • Times’ 40 Under 40

    Amit Jain – Success Story of the New Shark in Shark Tank India
    Amit Jain is the CEO and Co-founder of CarDekho and also the latest shark on Shark Tank India. Discover more about Amit’s education, net worth, and more.
    StartupTalkyMegha Rani

    Vikas D Nahar – Interesting Facts

    • Vikas Nahar is regarded as a polyglot as he can speak many languages like English, Hindi, Kannada, Marwari, and Spanish.
    • He was rejected 20 times by investors before he raised his first funding.
    • Vikas started his business with an initial investment of only Rs 10,000.
    • In 2023, Vikas D Nahar appeared as a special guest shark on ‘Gateway to Shark Tank India 2’, the grand finale episode of Shark Tank India Season 2, which was a digital-only episode.

    FAQs

    Who is Vikas D Nahar?

    Vikas D Nahar is an Indian businessman and the founder of Happilo International, a company that specializes in offering high-quality dried fruits, nuts, seeds, dates, hampers, and more.

    When did Vikas D Nahar start Happilo?

    Vikas D Nahar founded Happilo in 2016.

    Who is the guest shark on Shark Tank India Season 2?

    Vikas D Nahar, the founder and CEO of Happilo, appeared as the guest shark on Shark Tank India Season 2.

  • Tech Industry Layoffs: What Do They Mean?

    The discipline of computer science first emerged in the late 1950s and consistent and constant research and upgrades resulted in the advent of the World Wide Web as the world entered the new era of the internet. The revolutionary effect of emerging technology on culture and commerce included near-instant communication by electronic mail, instant messaging, voice-over-internet protocol (VoIP), video chats, discussion forums, blogs, social networking sites, and online shopping sites. The importance of this technology was felt in the nineties as many companies sprang up with business ideas around technology.

    The Emergence of the Big Tech
    Sudden Growth Spurt and Over Hiring
    The Current Reality
    What do these Layoffs Mean?
    Conclusion

    The Emergence of the Big Tech

    It was after the 2000 dot-com bubble crash that these technology companies thrived and grew to dominate the market with little regulation. The year 2013 was when the term ‘Big Technology’ entered into mass consciousness. ‘Big Tech’ became popular in the year 2017 due to the investigation into the role that technology companies played in the 2016 United States elections. The term also refers to the tech giants that currently dominate the global tech market. These are the five largest American tech companies – Alphabet, Amazon, Apple, Meta, and Microsoft. These companies are also called the ‘Big Five’.

    List of Top Companies That Have Laid off Their Employees in 2022!
    Top Companies are laying off their employees in 2022. Check out the list of companies that have done this and their reasons for this drastic step.
    StartupTalkyDamini Bhandary

    These companies are leading players in their respective technology fields that range from artificial intelligence, cloud computing, consumer electronics, e-commerce, home automation, online advertising, self-driving cars, social networking, software, and streaming media. With a market capitalization of anywhere between USD 1 trillion to USD 3 trillion these companies are among the most prestigious employers in the world.

    Sudden Growth Spurt and Over Hiring

    The technology industry has seen unprecedented growth in the last three decades increased multi-fold during the global covid-19 pandemic. Global lockdowns forced companies to overnight scale up their remote working options and find effective alternatives to in-person meetings and conferences. This resulted in tech companies responding with quick over-hiring as product needs evolved rapidly.

    Examples of such quick responses to product needs by different businesses include Google, which changed its video conferencing platform Google Meet to accommodate more participants, and Meta changed Whatsapp’s video conferencing facility. These changes required specialized manpower that included product managers, developers, UI/UX designers, etc leading to companies hiring additional staff. Unfortunately, these companies foresaw such a high demand continuing and went on a hiring spree that led to over-hiring.

    Sunder Pichai wrote in his letter that he sent to employees after he announced the termination of 12,000 employees – “Over the past two years we’ve seen periods of dramatic growth. To match and fuel that growth, we hired for a different economic reality than the one we face today.”

    The Current Reality

    The tech industry has seen more than 200,000 job cuts, since the beginning of 2022, a majority of which have come from the ‘big five’. The one major reason being cited for these layoffs has been the slowdown of the global economy and the impending threat of a recession. Of course, over-hiring during the boom has also caused companies to downsize in order to maintain the company’s bottom line during this slowdown.

    Fund managers and early investors in successful technology companies also increase pressure to make quick and productive decisions to counter the slowing economy. Altimeter Capital, one of the investors in Mark Zuckerberg’s Meta wrote a letter to Zuckerberg stating – “Like many other companies in a zero-rate world – Meta has drifted into the land of excess – too many people, too many ideas – too little urgency. This lack of focus and fitness is obscured when growth is easy but deadly when growth slows and technology changes.” Similarly, Sunder Pichai received a letter from the Founder and CEO of TCI Fund Management, Christopher Hohn stating – “I believe the management should aim to reduce headcount to around 150,000, which is in line with Alphabet’s headcount at the end of 2021. This would require a total headcount reduction in the order of 20%.”

    Another big reason is that many investments into new initiatives are proving to be unprofitable. Some examples include Amazon’s robotics division, Microsoft’s virtual reality and metaverse division AltspaceVR and Meta’s Substack competitor called Bulletin.

    CIO of Bridgewater Associates, Ray Dalio said – “What’s happening is that a number of these investments by big techs have negative cash flows. That means that they didn’t have earnings that will support those prices. And in many cases, they just didn’t have earnings. And they relied on either borrowing money to make up the gap or raising venture capital or private equity money.”

    Dan Ives, MD of Wedbush Securities, an investment firm, further clarified – “Big Tech has been having fun up to this point but clearly they are going to see significant cost cuts, headcount cuts as well. I think over the next six to nine months as the recession is at the doorstep, time will get tough. I think this dark storm will pass but you cannot think of these tech companies as isolated from this. I think there’ll be a massive rip in them as well.”

    What do these Layoffs Mean?

    Even though tech layoffs have been dominating news headlines recently, the US economy has added 223,000 jobs. Even though Microsoft laid off 10,000 employees, they have, since 2019, added almost 80,000 jobs. Amazon hired 300,000 people last year, even as they laid off 18,000 employees.

    What this essentially means is that the tech sector is maturing and now hiring people who can help improve the business’s bottom line. Tech businesses are reducing engineering and operational roles while reallocating their hiring budget to business-related roles that focus on maintaining healthy cash flows for the company.

    Conclusion

    Although it is likely that tech lay-offs will continue in 2023, the sector is growing and many companies within the sector will continue to hire. It might be to an employee’s benefit to invest in personal and professional growth and narrow efforts towards opening opportunities with the growing companies.

    FAQs

    Are tech companies laying off?

    More than 106,000 workers in U.S.-based tech companies (or tech companies with a large U.S. workforce) have been laid off in mass job cuts so far in 2023.

    Which tech sectors are laying off?

    In 2023, the workforce reductions have been driven by the biggest names in tech like Google, Amazon, Microsoft, and Meta.

    Why is the tech industry laying off?

    There are several factors contributing to tech layoffs, including the economy, inflation, higher interest rates, and overhiring.

  • Philips Marketing Strategy: Driving Sustainability and Sales

    In today’s world, businesses are constantly looking for new ways to reach their target audiences and stand out in the market. Philips, one of the world’s leading companies in consumer electronics, has been at the forefront of marketing success for many years. In this blog post, we’ll take a look at the company’s effective marketing strategies.

    Founded in 1891, Philips has grown to become one of the largest and most successful companies in the world. The Dutch multinational conglomerate corporation is best known for its consumer electronics and health and wellness products. It has also expanded into other areas such as lighting, appliances, and home care products. In this blog post, we’ll take a look at the company’s effective marketing strategies.

    Philips – Innovation and Marketing Success
    Philips Target Audience
    Philips Marketing Mix
    Philips Marketing Strategies
    Philips Marketing Campaigns

    Philips – Innovation and Marketing Success

    Philips Worldwide Revenue from 2009 to 2022
    Philips Worldwide Revenue from 2009 to 2022

    Philips started out as a small family business in the Netherlands. The company was initially focused on selling light bulbs, but over the years, Philips has diversified its business and now offers a wide range of products and services. Today, Philips is a global brand with a presence in more than 100 countries. Philips’ success can be attributed to the company’s focus on innovation and its ability to stay ahead of the competition. The company has a long history of introducing new products, such as the world’s first electric shaver and the first portable CD player. Philips also pioneered the use of digital technology, launching the world’s first digital audio tape recorder in 1979.

    In addition to its focus on innovation, Philips has also invested heavily in marketing and advertising. Over the years, the company has launched several successful marketing campaigns that have helped to increase brand awareness and solidify its position as a leading player in the consumer electronics industry.

    With a long and rich history, Philips has been able to adapt its marketing strategies over the years to stay relevant and top-of-mind for consumers. It all started in 1891 when Gerard Philips and his father, Frederik Philips, started the company in Eindhoven, Netherlands. The company originally produced carbon-filament lamps and other electrical goods. In 1895, the company produced its first incandescent light bulb and began to expand its product line to include other electrical appliances.

    In recent years, Philips has made a shift in its marketing strategy, focusing more on digital and social media marketing. This has helped the company reach a wider audience and connect with consumers on a more personal level. In addition to its digital marketing efforts, Philips has also increased its focus on sustainability, which is a key concern for many consumers today.

    By keeping up with the latest trends and investing in innovative marketing strategies, Philips has been able to stay ahead of the curve and remain a leading player in the consumer electronics industry.

    Philips Target Audience

    Philips’ target audience is broad and diverse. The company’s products are designed to appeal to a range of consumers, from tech-savvy millennials to baby boomers. Philips also appeals to a wide range of price points, making their products accessible to a variety of budgets.

    Philips’ target audience is also changing over time. As the company has introduced new products and services, its target audience has shifted to meet the needs of the changing market. For example, Philips has recently been focused on providing health and well-being solutions to an aging population, as well as products that are designed to meet the needs of the tech-savvy millennial.

    Let Philips Case Study help you get more business |Philips products
    With the Philips Business Model Case study Know-how Philips Made a mark in healthcare, Customer lifestyle products, and Philips Lighting products.
    StartupTalkyDeesha Bakshi

    Philips Marketing Mix

    Philips dominates the market in the majority of its product categories. It has around 45.8% share of revenue in the audio market. It also has a significant market share for lighting systems. In India, the original Philips chips are used in 3 out of 5 televisions.

    It has been the industry leader for many years because of its amazing marketing strategy.

    This gets us curious about Philips’ marketing approach. In this blog, the four marketing Ps—Product, Place, Price, and Promotion—will be discussed.

    Product Strategy

    The product strategy is the initial phase of Philips’ branding strategy. It is among the largest businesses in the electronics sector. It has utilized cutting-edge engineers and advanced technology to design and manufacture new and better goods in order to innovate its products in the finest possible way. It strives to greatly simplify the lives of its users and has the following objectives: “Innovation and you”.

    The product line of Philips has three broad categories – Consumer lifestyle, lighting, and healthcare. Each category has various innovative products to meet the needs of every target audience.

    In order to create fresh and cutting-edge solutions, Philips has also collaborated with a number of different businesses. At the moment, 20 other firms are collaborating with it. In addition to 33,000 trademarks and 114,000 design rights, the brand has 56,000 patent rights.

    Place Strategy

    The place strategy of Philips is the subsequent phase in the company’s marketing strategy. Around 1,20,000 individuals work for it in the service and sales division. Philips has used regional distributors and sales divisions for the promotion of its goods.

    Philips primarily uses two marketing channels to advertise their products:

    1. Directly to consumers through its online website
    2. Through wholesalers and retailers

    Its distribution approach may be attributed as the cause of the business’s success. In order to make sure that its products are easily accessible to all customers, it employs an aggressive marketing approach in which it seeks to put its products in as many outlets as possible.

    Philips’ website receives a substantial quantity of traffic in addition to having a sizable amount of online purchases. It has teamed up with a number of delivery service providers to manage its online operations smoothly and effectively in order to offer timely delivery services.

    Price Strategy

    Philips maintains a straightforward price strategy in order to survive the fierce competition. Even though the products must be priced higher than those of the rivals, the corporation has made the decision to not compromise on their quality.

    Philips adopts a competitive pricing approach, nevertheless, and charges prices for its products that are comparable to those of its rivals. Customers consider and have the option to choose higher quality items because the prices are almost the same.

    Philips has therefore been able to produce a large volume of income and sales while maintaining a sizable market share.

    Promotion Strategy

    To advertise its name and goods, Philips employs a multichannel strategy. As a part of the promotional mix, the firm engages in promotional efforts on Social Media, TV, Print, Radio, Events, and Sponsorships.

    As part of its advertising, it has also employed several famous celebrities. The advertisements it has produced are also quite creative.

    As part of its marketing strategy, Philips also provides a variety of discount cards and coupons. In addition, it sponsors several sporting teams and events, including Australian Rugby, the Commonwealth Games in India, and the F1 race. Additionally, it supports the “Monster of Rock Festival.”

    In order to better engage with consumers and raise brand recognition, Philips is likewise active on social media sites like Twitter and Facebook.

    Additionally, it has started an integrated marketing effort that has been warmly accepted by the public to promote its brand promise of “Innovation and You” as well as the idea of using green energy to improve people’s lives.

    These are the 4Ps of the marketing mix that Philips employs to be the market leader.

    Philips Marketing Strategies

    Philips has been a leader in the marketing world for many years. The company has a long history of successful campaigns and strategies and has been able to stay ahead of the competition by continuously introducing new products and marketing campaigns. Here are some of the most effective marketing strategies used by Philips:

    Brand Loyalty

    Philips has been able to build strong brand loyalty among its customers. The company has invested in research to understand the needs and desires of its customer base and has crafted products and campaigns to meet those needs.

    Content Marketing

    Philips has been successful at leveraging content marketing to reach its target audience. The company produces content that is both informative and entertaining and uses it to engage with its customers and build relationships.

    Social Media

    Philips has leveraged social media to reach a broader audience and engage with its customers. The company has a strong presence on platforms such as Facebook, Twitter, and Instagram, and uses these platforms to create conversations and promote its products.

    Celebrity Endorsement

    Philips has been successful at leveraging celebrity endorsement to reach its target audience. The company works with celebrities to create content that aligns with its brand and resonates with its target audience.

    Alia Bhatt Endorsing Philips Hair Straightener | Philips Marketing
    Alia Bhatt Endorsing Philips Hair Straightener | Philips Marketing

    Experiential Marketing

    Philips has been successful at creating unique and memorable experiences for its customers. The company has created events and experiences that let customers get up close and personal with its products.

    Online Advertising

    Philips has leveraged online advertising to reach a wider audience and create more awareness for its products. The company has used a variety of methods, such as search engine marketing, display ads, and social media ads, to reach its target audience.

    Mobile Marketing

    Philips has been successful at leveraging mobile marketing to reach its target audience. The company has created mobile campaigns that are tailored to the needs of its customers and are optimized for mobile devices.

    Product Placement

    Philips has leveraged product placement to create more awareness for its products. The company has placed its products in movies, television shows, and other media in order to create a more positive association with its brand.

    PR and Media Relations

    Philips uses PR and media relations to build relationships with the media and create positive publicity for the company. The company also uses PR to build relationships with influencers.

    Event Marketing

    Philips participates in various events to promote its products and services. The company also sponsors events to create brand awareness.

    Search Engine Optimization

    Philips uses SEO techniques to optimize its website and content for search engines. This helps the company to reach its target audience more easily.

    Top 15 Local SEO Tools To Improve Local Rankings in 2023
    Local SEO tools help you optimize online presence and drive traffic. Here are the top 15 local SEO tools to help you improve rankings in 2023.
    StartupTalkyAbinaya Arangarajan

    Philips Marketing Campaigns

    Philips has launched a variety of marketing campaigns over the years. One of the company’s most successful campaigns was the “Light is Life” campaign, which was launched in 2014. The campaign featured a series of television commercials that highlighted the importance of light in our lives. The campaign is still remembered by many today.

    In 2016, Philips launched the “Live Well” campaign, which focused on the importance of health and well-being. The campaign featured a series of television commercials that highlighted the importance of taking care of ourselves and our loved ones. The campaign was a huge success and raised awareness about the importance of leading a healthy lifestyle.

    Philips has also launched several digital campaigns over the years. In 2017, Philips launched the “Connected Home” campaign, which highlighted the brand’s smart home solutions. The campaign featured a series of videos that showcased how Philips’ products can make our lives easier and more efficient. The campaign successfully raised awareness about the brand’s smart home solutions.

    Philips launched a popular digital campaign in 2020 called #StyleThatSpeaksforYou. The campaign focuses on the importance of good hair in one’s life and how it is an important tool to express oneself. Therefore, it’s essential that hair is properly taken care of and styled well.

    #StyleThatSpeaksForYou | Philips

    Conclusion

    Philips’ marketing strategies have helped the company become a global leader in the fields of innovation and technology, and there are many tips to learn from Philips. By understanding the target audience and implementing a wide range of marketing strategies, companies can also achieve success like Philips.

    FAQs

    What are the marketing strategies of Philips?

    Some of the most effective marketing strategies used by Philips are brand loyalty, content marketing, social media marketing, experiential marketing, online advertising, event marketing, and more.

    When was Philips founded?

    Philips was founded in 1891 in Eindhoven, Netherlands, by Gerard Philips and his father, Frederik Philips.

    What is the target audience of Philips?

    Philips’ target audience is broad and diverse. Its products are designed to appeal to a range of consumers, from tech-savvy millennials to baby boomers. It also appeals to a wide range of price points, making its products accessible to a variety of budgets.

  • Top 8 Best Free Streaming Software to Consider in 2023

    Video streaming has become an essential part of our lives, whether it’s for entertainment, education, or communication. The video streaming technology is evolving with each passing day and users are searching for the most appropriate and right streaming software that doesn’t come with an expensive price and even free. The right video streaming software would outlay your video with a professional glimpse along with the custom logo, high-resolution streaming, mixed audio and more.

    While there are many paid options available, there are also plenty of free video streaming software options that offer powerful features and tools for content creators and streamers. With so much competition among software companies, developers are constantly working on creating the best performing and most convenient video streaming software to meet user demands. However, with so many options available, it can be challenging to find the most suitable software for your system. To help make your search more convenient, we have researched and ranked the top video streaming software options based on their key features. Whether you’re a beginner or a professional, this guide will assist you in finding the right video streaming software for your needs. So, let’s dive in and explore the top video streaming software options for 2023.

    Best Free Streaming Software

    OBS Studio
    Streamlabs OBS
    Streamyard
    FFsplit
    Restream
    OneStream
    Adobe Flash Media Live Encoder
    XSplit Broadcaster

    OBS Studio

    Website Obsproject.com
    Rating 4.7 out of 5
    Best For Beginners

    OBS Studio - Free Streaming Software
    OBS Studio – Free Streaming Software

    OBS Studio is a free and open-source streaming software that has gained widespread popularity among content creators and streamers. It supports a wide range of platforms, including Windows, Mac, and Linux, and provides powerful features and tools for live streaming and recording.

    OBS Studio is widely preferred for its high-tech intuitive interface that comes along with some distinctive features, easily accessible by professionals as well as beginners. OBS comes with some great facilities for accessing files from different locations like capture card or computer folders.  Moreover, it allow you to complete the process of configuration with the help of distinguished features and settings.

    Key Features

    • An expansive range of editing tools and filters.
    • Allows you to add more than two sources to the timeline for the purpose of customized projects.

    Pros:

    • Free and open source
    • Custom transition
    • Noise suppression
    • Studio mode to preview the recordings
    • Knowledge base and community forum to learn and discuss
    • Ability to arrange the layout according to your need

    Cons:

    • The user interface can be simple
    • Steep learning curve

    Global Audio Editing Software Market- Top Editing Software Systems
    How the growth of media and entertainment industries drives the Audio Editing Market and what are the top editors available online across the Globe. Read this article to know more.
    StartupTalkyAditi Chawda

    Streamlabs OBS

    Website Streamlabs.com
    Rating 4.2 out of 5
    Best For Professional streamers

    Streamlabs OBS - Best streaming software
    Streamlabs OBS

    Streamlabs OBS is a free and open-source streaming software designed for gamers, content creators, and live streamers. It combines the features of OBS Studio with additional tools and functionalities, making it easy for users to create professional-quality live streams without needing advanced technical knowledge.

    Key Features

    • Users can create and customize their own overlays and themes to give their live streams a unique look and feel.
    • Streamlabs OBS includes built-in alerts and notifications for various events, such as new followers, donations, and subscribers.
    • Streamlabs OBS can automatically optimize stream settings based on the user’s internet speed and hardware configuration, ensuring a smooth and high-quality streaming experience.
    • Streamlabs OBS can stream to various platforms such as Twitch, YouTube, Facebook, and more, making it easy for users to reach a wider audience.

    Pros:

    • Simple to collaborate by sending the invitation link
    • 100+ free overlay themes
    • Personalized layout
    • Different kinds of custom alerts while streaming
    • Interactive poll feature
    • Free chatbot

    Cons:

    • Takes too much CPU power

    Streamyard

    Website Streamyard.com
    Rating 4.7 out of 5
    Best For Simple web-based live streaming

    Streamyard - Free Live Streaming Software
    Streamyard

    Streamyard is a web-based live streaming software designed for content creators, businesses, and educators who want to broadcast their events and engage with their audiences. It allows users to easily create professional-quality live streams using their web browser without needing any additional software or hardware.

    Key Features

    • Streamyard allows users to stream to multiple platforms such as Facebook, YouTube, LinkedIn, and others simultaneously, making it easier to reach a wider audience.
    • Users can customize their live stream with their own branding elements such as logos, colors, and backgrounds, giving their stream a professional look and feel.
    • Streamyard offers a range of interactive features such as audience polls, chat moderation, and guest invitations, allowing users to engage with their audience more effectively.
    • Streamyard provides users with analytics data such as viewer count, engagement metrics, and more, helping them to understand their audience and improve their live streaming strategy.

    Pros:

    • The free plan is available
    • Customizable background
    • 7 different video layouts to choose from
    • Screen sharing
    • Private chat
    • Cloud-based software
    • Ability to embed the webinar into the website

    Cons:

    • Can’t customize the layout of the interface
    • The live poll feature is missing

    Guide For Creating YouTube Videos
    Many YouTube video creators enter the space but get stuck in the prime challenge of creating YouTube videos. The complete guide for creating
    StartupTalkyBhoraniya Huda Hifzur Rehman

    FFsplit

    Website www.ffsplit.com
    Rating 3.5 out of 5
    Best For New-comers to Live Streaming

    FFsplit - Live Stream Software
    FFsplit – Live Stream Software

    FFsplit is only built for Windows users. The software is a freeware program that helps you to capture desktop activities along with high-resolution video streaming. It easily records the activities that are functioning on the desktop and lets you stream further through different websites. FFsplit also has the facility of saving the streaming for future requirements.

    Key Features

    • Hotkey Feature, which makes the process for beginners absolutely convenient and handy.
    • Easy access to the webcam that offers a great range of outlines the needs of professionals.

    Pros:

    • Completely free to use
    • Supports multiple live streaming
    • Interface is simple
    • Best for Facebook live streaming
    • Require less storage and CPU

    Cons:

    • Available only for windows
    • Fewer features compared to the other tools

    Restream

    Website Restream.io
    Rating 4.6 out of 5
    Best For Engaging Audiences

    Restream - Free video streaming software
    Restream – Free video streaming software

    The absolutely amazing cloud-based video streaming software, Restream, offers great services of streaming videos to more than 30 different platforms such as Twitch, Facebook, YouTube and more, at once. In fact, Restream provides a great facility of native integration with distinguished streaming software like Elgato, Xsplit, OBS Studio and others. The major advantage that comes with Restream is the Real-time Platform and Channel Toggling.

    Key Features

    • Develop numerous channels through a single platform.
    • Metadata updation of all the streams.
    • User’s interactions via chats from different platforms.

    Pros:

    • Ability to stream on multiple platforms at the same time
    • Easy-to-use interface
    • Highly customizable
    • Schedules the recorded videos to go live
    • 20+ ready-to-use themes
    • Offensive message filtering
    • The free plan is available

    Cons:

    • You can stream on only two channels out of 30 with a free plan

    Best Video Editing Software for Professional and Industry Grade Editing
    Top 5 video editing tools for professionals and industry standards including Corel VideoStudio, Adobe Premiere Pro, Pinnacle Studio, CyberLink PowerDirector, and DaVinci Resolve
    StartupTalkyAnsh Mehrey

    OneStream.Live

    Website Onestream.live
    Rating 4.6 out of 5
    Best For One In All Streaming Software

    OneStream - All-in-One Live Streaming Software
    OneStream Website

    OneStream is counted among the top video streaming software that carries the facility of live recording, streaming, pre-recording of videos and permit them to publish to over 40 different digital platforms. With such distinguished features, you can easily manage and schedule the broadcast of the content to the digital platforms, 60 days in advance.

    Key Features

    • Streaming on over 40 different platforms and scheduling broadcasting 60 days in advance.
    • With a server URL and key, allows the access of streaming custom RTMP.
    • Feature of uploading multiple contents at a single time.

    Pros:

    • Multi-stream on 40+ social media platforms
    • Easy to embed the live stream on your website
    • Option to add subtitles on pre-recorded videos
    • Live stream scheduling
    • The mobile app is available to stream on the go
    • Cloud-based platform
    • Live chat and email support
    • Knowledge base

    Cons:

    • Orientation problem while streaming on Instagram
    • Some user says that pricing is bit higher

    Adobe Flash Media Live Encoder

    Website NA
    Rating 4.3 out of 5
    Best For Professional Streamers and Content Creators

    Adobe Flash Media Live Encoder - Live video streaming and recording software
    Adobe Flash Media Live Encoder

    Adobe Flash Media Live Encoder is widely famous among professionals for routine based live streaming along with audio and video files. The software offers great advantages such as supporting the streaming of the finest quality video and a handy setup facility. It is specifically designed for use with Adobe Flash Media Server, making it an ideal option for those who require high-quality video and audio streaming.

    Key features

    • Processing of video and audio signals with high resolution.
    • Widely preferred for live streaming events like education requirements, business, sporting events and more.

    Pros:

    • Free to use
    • Embed code to use on the website
    • Available for both windows and mac
    • Supports HD resolution

    Cons:

    • Complex set-up procedure
    • Difficult to use

    XSplit Broadcaster

    Website www.xsplit.com
    Rating 4.1 out of 5
    Best For Gamers

    XSplit Broadcaster - Live video streaming and recording software
    XSplit Broadcaster Website

    The very prominent live streaming software, XSplit Broadcaster is known for its incredible capturing ability for recording as well as live streaming. It provides the user with the facility to record or live stream any video within seconds. XSplit Broadcaster offers a great in-game stream control HUD that assists you in connecting with people, monitors recent events, and keeps the watch on the increasing statistics for the engagement.

    Moreover, it facilitates the projector mode that allows access to outlay various scenes to the connected device with the computer’s GPO.

    Key Features

    • The NVENC option allows you to customize the settings for optimal performance and resolution.
    • Edit scenes with the help of Scene Preview Editor before the live broadcasting.
    XSplit Broadcaster BEST Settings

    Pros:

    • Plugins and extensions are available
    • Background noise cancellation
    • Audio adjustment for different screens
    • Ability to record multiple screens
    • Live chat support
    • The free version is available with some limitations

    Cons:

    • Poor customer service
    • Pricing is higher

    Conclusion

    Selection of the right video streaming software for your system could be very hectic and time taking. It would require you to test every other software and check which suits the best for your system.

    The right software must include the features of support platforms, user support, games, options for input sources and many more. And with keeping these key features in mind, describes the above streaming software that would work best for your system and requirements.

    FAQs

    What is live stream software?

    Live stream software’s are software that allows users host or record live stream videos.

    What is the best free live stream software?

    OBS Studio, Restream, Onestream and FFsplit are some of the best live streaming software.

    What do beginner streamers need?

    If you are a beginner who is starting streaming, you need four things: a camera, a microphone, streaming software, and a good internet connection.

    What are the key features to look for in streaming software?

    Some key features to look for in streaming software include ease of use, compatibility with various platforms and devices, customizable settings, and support for high-quality video and audio streaming.

    Can I use free streaming software for commercial purposes?

    Yes, in most cases, you can use free streaming software for commercial purposes. However, it’s important to check the software’s licensing and terms of use to ensure that you’re using it legally.

    Do I need a high-performance computer to use streaming software?

    It depends on the software and the level of streaming you want to do. Some software may require a higher-performance computer to handle the demands of live streaming, while others may be more lightweight and work on lower-performance machines. Check the software’s system requirements before downloading to ensure compatibility with your computer.

  • The Role of Natural Language Understanding in Streamlining Enterprise Workflows

    Natural Language Understanding (NLU) is at the forefront of technological innovation, transforming the way humans interact with machines. As a specialized branch of Natural Language Processing (NLP), NLU focuses on enabling systems to interpret, analyze, and respond to human language in a way that mimics human understanding. Unlike traditional keyword-based systems, NLU allows for a more intuitive experience by understanding context, intent, and even nuances in user queries. This breakthrough technology has revolutionized sectors like customer support, automation, and knowledge management by making interactions more conversational and accessible. It bridges the gap between human communication and machine processing, paving the way for seamless user experiences and efficient problem-solving.

    Sravanthi Reddy is a pioneering professional in the realm of Natural Language Understanding (NLU), an advanced field within Natural Language Processing (NLP) that focuses on enabling machines to comprehend and interpret human language in a way that mirrors human understanding. Her contributions in this arena have brought transformative changes to the way users interact with technology, particularly through virtual agents and self-service platforms. In a world increasingly reliant on AI-driven systems, her work stands out as a testament to how technology can enhance accessibility, efficiency, and user satisfaction.

    The industry she operates in is at the cutting edge of AI and machine learning, with NLU playing a pivotal role in revolutionizing customer interactions across various platforms. By allowing users to communicate with systems in natural language instead of rigid, predefined commands, NLU creates a seamless and intuitive experience. As she aptly puts it, “Natural Language Understanding is not just about machines understanding words; it’s about machines understanding people.” Her dedication to this field has led to significant advancements in user-friendly AI solutions, making complex processes more accessible to everyday users.

    One of her most impactful contributions has been enhancing Virtual Agent interactions by developing NLU models that allow users to ask questions in their own words, whether they are seeking status updates, resetting passwords, or submitting support tickets. This work has not only improved the conversational experience but also increased the accuracy of intent recognition, leading to faster and more effective resolutions. As she explains, “The ability of a system to understand a query, even when it’s phrased informally or ambiguously, is what makes NLU so powerful.”

    Beyond virtual agents, she has been instrumental in refining knowledge base searches, ensuring users receive relevant results even when their queries include informal or complex language. She has also worked on automating the classification of incident tickets based on descriptive text, a solution that has refined workflows and reduced response times. Another noteworthy project has been developing models for case summarization, allowing customer support agents to access concise and insightful summaries of customer issues, enabling them to respond more effectively.

    Her contributions have significantly improved the user experience on platforms she’s worked on, with increases in self-service success rates and reductions in ticket resolution times. These improvements not only enhance customer satisfaction but also optimize operational efficiency for businesses. “Every second saved in resolving an issue is a win for both the customer and the organization,” she emphasizes.

    Like any trailblazer in a highly technical field, she has faced her share of challenges. These include navigating the complexities of language nuances, accommodating diverse user dialects, and ensuring system accuracy in the face of ambiguous queries. Reflecting on these hurdles, she says, “Each challenge was an opportunity to learn and refine the system. The key is to approach problems with a mindset of continuous improvement.”

    Looking ahead, she is optimistic about the future of NLU and NLP. She envisions advancements in language models that will enable more sophisticated applications, from highly effective chatbots to seamless language translation tools. “The future of NLP is bright,” she says. “As the technology evolves, we’ll see even greater demand for professionals who can push the boundaries of what’s possible.” She also highlights the growing importance of roles such as NLP engineers, data scientists, and computational linguists, predicting they will play a vital role in shaping the future of AI-driven communication.

    Sravanthi’s work highlights the transformative potential of NLU, which is becoming a cornerstone of automation and human-like engagement across industries. By using this technology in sales, support, and operational contexts, businesses can achieve unprecedented levels of efficiency and customer satisfaction.

     

  • Acorns: Revolutionizing the Way People Invest and Save

    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 the organization it is based on.

    Governments across the world are supporting the use of fintech for increasing financial inclusion and elevating efficiency via real-time payments and open applications programming interfaces and blockchains. Leveraging the fintech industry, the government can create a digital economy that further leads to market growth.

    Acorns is the first company in the fintech industry to offer micro-investments and robo advice to the world. Read further to access detailed information about Acorns- from founders and startup story to the business model, investors, growth, and funding.

    Acorns – Company Highlights

    Company Name Acorns
    Headquarters Irvine, California, United States
    Primary Industry Fintech
    Founders Jason Martell, Jeff Cruttenden, Walter Cruttenden, and Mark Dru
    Founded In 2012
    Revenue $180.4M (2022)
    Website www.acorns.com

    Acorns – About
    Acorns – Industry
    Acorns – Founders and Team
    Acorns – Startup Story
    Acorns – Mission and Vision
    Acorns – Business Model
    Acorns – Products and Services
    Acorns – Challenges Faced
    Acorns – Funding and Investors
    Acorns – Mergers and Acquisitions
    Acorns – Patents and Trademarks
    Acorns – Partners
    Acorns – Growth
    Acorns – Competitors

    Acorns – About

    Founded in 2012, Acorns is a finance company that provides micro-investing services through its web and mobile applications. It basically allows its customers to round up purchases and invest the change automatically into a diversified portfolio. Moreover, the company also offers multiple solutions, including banking, personal investing, investing for kids, and investing for retirement.

    The company is thriving under the leadership of Noah Kerner (CEO) and David Hijirida (President).

    Acorns – Industry

    Acorns is a fintech company that has revolutionized the concept of micro-investing worldwide. Fintech is the term used to refer to financial technology that enhances or automates financial services and processes.

    Talking about the global fintech market, it has attained a value of over $194.1 billion in 2022 and is expected to reach more than $492.81 billion by 2028, with a CAGR of 16.8% during 2023-2028.

    It is because of the increased penetration of the internet, use of smartphones, and adoption of cashless currency and the Covid-19 pandemic that accelerated the adoption of digital technology in the financial sector.

    Visa, Mastercard, PayPal, Tencent, Stripe, and Ant Financial are a few leading companies in the fintech industry.

    Fintech Industry in India | History | Growth | Future
    With the development of Fintech industry in India, the whole business has experienced a huge revolution. Read about growth of fintech in India.
    StartupTalkyDevashish Shrivastava

    Acorns – Founders and Team

    Acorns was founded by four seasonal entrepreneurs named Jason Martell, Jeff Cruttenden, Walter Cruttenden, and Mark Dru. The team was later on joined by Noah Kerner.

    Jeffrey James Cruttenden

    Jeff Cruttenden - Co-founder of Acorns
    Jeff Cruttenden – Co-founder of Acorns

    Jeffrey James Cruttenden is the founder of Acorns and graduated from Lewis & Clark College with a degree in Bachelor of Arts, in Mathematics. In addition to this, he is currently a Partner at Cruttenden Partners and Co-founder at Say.

    Walter Cruttenden

    Walter Cruttenden - Co-founder of Acorns
    Walter Cruttenden – Co-founder of Acorns

    Working as a Founder at Acorns, Walter Wemple Cruttenden III has held the role of CEO at Blast. Presently, he is also working as a President at Cruttenden Partners and Executive Director at Binary Research Institute.

    Jason Martell

    Jason Martell - Co-founder of Acorns
    Jason Martell – Co-founder of Acorns

    Jason Martell is an entrepreneur known for co-founding many companies. His expertise lies in the field of UX design, UI, mobile, creative, and interactive technologies.  Jason Martell currently serves as a product designer for Meta. He also served as the co-founder of Blast and Acorns.

    Mark Dru

    Mark Dru - Co-founder of Acorns
    Mark Dru – Co-founder of Acorns

    Mark Dru is another name in the founder’s list of Acorns. Apart from Acorns, he is also the co-founder of Blast and has worked as Chief Revenue Officer at Triller in past. At Acorns, along with being a co-founder, he has served as a CFO for time period of  3 years (2012-2015).

    Noah Kerner

    Noah Kerner - CEO and Chairman at Acorns
    Noah Kerner – CEO and Chairman at Acorns

    Noah Kerner is another powerful name in the team of Acorns. He serves the Acorns as CEO and Chairman from 2014 to the present. Apart from this, he has also served as the co-founder and CEO of Noise. He is also present as a co-founder of SAY.

    When it comes to the company size, presently, it employs around 500 employees.

    Acorns – Startup Story

    The main idea behind founding Acorns was to promote incremental and passive investing. In 2014, it launched an app for both Android and iOS devices, and portfolio options were designed in partnership with Harry Markowitz – a Nobel-winning advisor.

    Moreover, the platform has expanded by including checking account services and retirement IRA products. In 2018, a behavioral economist- Shlomo Benartzi was appointed Chair of the Behavioral Economics Committee to work on the initiative of Money Lab conducting field experiments to know stats about consumer spending.

    Acorns – Mission and Vision

    Acorns Mission
    Acorns Mission

    The company’s main aim is to look after the financial best interests of the up-and-coming, beginning with the empowering, proud step of micro-investing. It is working on increasing the accessibility to several investment options that were previously available for purchase only with a large sum of money.

    Acorns – Business Model

    The micro-investing platform earns money through membership fees. It basically allows members to save small sums of money and invest them to further save for retirement. The company also offers banking services to members at lower fees.

    The services are divided into three primary categories. The first category allows members to invest their spare change in ETFs (exchange-traded funds). The second category enables members to create and fund an IRA through the platform and the third category provides a debit card through companies like Visa Inc.

    The subscription is offered by the company for $1, $3, and $5 per month for packages including different services.

    Acorns – Products and Services

    Acorns Website
    Acorns Website

    Acorns is known to offer four main products and these are – investment management, investment portfolios, stock trading and stock portfolios. In addition, it has three main services- Acorns Core, Acorns Spend, and Acorns Later.

    Acorns – Challenges Faced

    Acorns failed to maintain proper customer records and thus, was censured and fined by Financial Industry Regulatory Authority in 2017. Furthermore, in 2021, the company planned to go public after merging with Pinoeer Merger Corporation – a blank-check company.

    However, this plan was canceled in 2022 due to market conditions. Moreover, no tax strategy and high fees on small balances are two major aspects where it falls short.

    Acorns – Funding and Investors

    Over 10 funding rounds, Acorns has been able to raise a total of $507 million. Furthermore, the company’s latest funding round – Series F Round was undertaken on March 9, 2022, in which it raised a total of $300 million.

    It is backed by 39 world-class investors, advisors, and board members, including 2 Nobel Prize-winning economists. Some of its main investors are PayPal, BlackRock, Bain Capital Ventures, DST Global, NBCUniversal, Comcast Ventures, Greycroft, Capital Group, Headline, and TPG.

    Date Round Number of Investors Money Raised Lead Investor
    March 9, 2022 Series F 11 $300 million TPG
    August 19, 2019 Venture Round 6 – –
    January 28, 2019 Series E 10 $105 million Comcast Ventures, NBCUniversal
    January 12, 2018 Venture Round 1 – The Rise Fund
    July 20, 2017 Series D 7 $35 million –
    April 21, 2016 Series D 8 $35 million PayPal Ventures
    February 15, 2015 Series C 8 $23 million Greycroft, Headline
    March 12, 2014 Series B 3 $6.2 million Jacobs Asset Management
    October 1, 2013 Series A 1 $2.5 million Steelpoint Capital Partners
    June 1, 2012 Pre Seed Round 1 $300K Cruttenden Partners

    Acorns – Mergers and Acquisitions

    Acorns have acquired 3 organizations and these are Vault, Harvest Platform, and Pillar.

    Acquired Company Name Date of Announcement Price
    Pillar April 7, 2021 –
    Harvest Platform March 12, 2021 –
    Vault November 7, 2021 –

    Acorns – Patents and Trademarks

    As per IPqwery, the intellectual property of the company currently has 20 registered patents, primarily in the category of ‘Computing’ and ‘calculating’. Furthermore, it has 28 registered trademarks categorized into the ‘Scientific and electric apparatus and instruments’ class.

    Acorns – Partners

    Presently, Acorns have a total of 26 partners in its portfolio. Some of the reputed names from the portfolio are Airbnb, ABC, Trust & Will, ZipRecruiter, BlackRock, Clarity Money, NBKC, and PayPal.

    Acorns – Growth

    As per Fortune’s Impact 20 list 2020, its customer count increased to 8.2 million. Additionally, it has over 4.6 million paid subscribers. With the company’s annual revenue is to be estimated at $84 million per year ($165,100 per employee) in 2022, Acorn’s current valuation stands at $2 billion. Moreover, its employee count increased by 25% last year.

    The company has over 24,000 monthly app downloads, with Acorns: Invest Spare Change, Acorns: Save & Invest, and Acorns Stickers as the most popular apps.

    Acorns – Competitors

    More and more companies are establishing businesses in the Fintech industry to provide high-quality financial services which increases competition to a great extent. Some main competitors of Acorns are:

    • Robinhood
    • Betterment
    • SoFi
    • Wealthfront
    • Chime
    • Vanguard
    • Stash

    List of Top 16 Fintech Startups in USA 2022
    When it comes to fintech startups, the USA beats all the countries to maintain the top rank. Here is a list of top fintech startups in the USA.
    StartupTalkyMichelle D’souza

    FAQs

    Who owns Acorns?

    Acorns is an American financial technology company founded by four entrepreneurs named Jason Martell, Jeff Cruttenden, Walter Cruttenden, and Mark Dru.

    Are Acorns safe to invest in?

    Yes, Acorns is a safe platform to invest in because it complies with all the federal law rules related to digital safeguarding and bank-level physical security.

    What is the best investing app for beginners?

    Some of the best investing apps for beginners are Robinhood, stockpile, Acorns, etc.

    Is Acorns a cryptocurrency?

    No, Acorns is not a cryptocurrency instead it is an American financial technology and financial services providing company.

  • Wells Fargo Success Story – The American Financial Services Giant

    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 the organization it is based on.

    A financial system is very crucial for any country, as it regulates all monetary things. The financial services industry, without a doubt, is one of the biggest industries that exist today.

    If we look back at history, it was the Gramm-Leach-Bliley Act, which allowed various types of companies operating in the U.S. financial services industry at the time to merge, that was passed in the late 1990s, and it contributed to the term “financial services” becoming more common in the country.

    One such financial services company is Wells Fargo. It is an American multinational financial services company, that has its headquarters in San Francisco, California. The firm is also one of the “Big Four Banks” of the US, along with JPMorgan Chase, Bank of America, and Citigroup.

    In this article, you will learn about Wells Fargo, one of the most prominent financial institutions in the United States, its visionary founders, its innovative business model, notable investments, and much more.

    Wells Fargo – Company Highlights

    Company Name Wells Fargo & Company
    Headquarters San Francisco, California
    Sector Financial Services
    Founders Henry Wells, William George Fargo
    Founded 1852
    Revenue $73.8 billion (2022)
    Website wellsfargo.com

    Wells Fargo – About
    Wells Fargo – Industry
    Wells Fargo – Founders and Team
    Wells Fargo – Startup Story
    Wells Fargo – Mission and Vision
    Wells Fargo – Name, Tagline, and Logo
    Wells Fargo – Business Model
    Wells Fargo – Revenue Model
    Wells Fargo – Mergers and Acquisitions
    Wells Fargo – Investments
    Wells Fargo – Philanthropic and CSR Activities
    Wells Fargo – Awards and Achievements
    Wells Fargo – Competitors
    Wells Fargo – Future Plans

    Wells Fargo – About

    With nearly $1.9 trillion in assets, Wells Fargo & Company is a diversified, locally focused financial services provider.

    Established in 1852, the company offers banking, investment, and mortgage services as well as consumer and business financing through more than 7,300 locations, 12,000 ATMs, the internet (wellsfargo.com), and mobile banking. The company also has offices in more than 40 nations and territories to support its clients who conduct business in the global economy.

    Wells Fargo has various subsidiaries, including:

    • Wells Fargo Advisors
    • Wells Fargo Bank, N.A.
    • Wells Fargo Rail
    • Wells Fargo Securities
    • Wachovia
    • First Union
    • CoreStates Financial

    In 1998, the original Wells Fargo & Company and the Minneapolis-based Norwest Corporation merged to form the current Wells Fargo. Although Norwest appeared to have survived, the combined company adopted the more recognizable Wells Fargo name and relocated to Wells Fargo’s headquarters in San Francisco.

    Wells Fargo – Industry

    The global financial services industry was valued at nearly $23,328.73 billion in 2021. In addition, it is anticipated that the value of this industry will grow from $23,328.73 billion in 2021 to $33,313.50 billion in 2026 at a rate of 7.4%. It is then expected to grow at a CAGR of 6.3% to reach $45,149.00 billion in 2031.

    The sudden rise of digitization has led to the emergence of financial service software as well. Thus, there is also a demand for workforce optimization solutions to drive the growth of the financial service software market.

    How is AI transforming the Finance Industry?
    Artificial intelligence has transformed every industry from healthcare to education. Can it transform finance and does it have a competitive advantage?
    StartupTalkyKavita Thakur

    Wells Fargo – Founders and Team

    Wells Fargo & Company was established in 1852 by Henry Wells and William G. Fargo, who together with John Butterfield founded American Express, to offer banking services to California then.

    Henry Wells

    Henry Wells - Founder, Wells Fargo
    Henry Wells – Founder, Wells Fargo

    Henry Wells was born in Thetford, Vermont, in 1805. His father, Shipley Wells, was a Presbyterian minister at what is now the First Presbyterian Church of Seneca Falls, New York. His parents had moved to central New York State as part of the Yankee westward migration out of New England.

    Henry went to school in Fayette and worked on a farm when he was younger. He began working as an apprentice in 1822 for the Palmyra, New York-based tanners, and shoemakers Jessup & Palmer.

    Before starting in the express industry, Henry Wells worked as a freight agent. By transporting mail for less than the government rate, his companies, which were the forerunners of American Express and Wells Fargo, competed with the United States Postal Service. In the field of higher learning, Wells founded Wells College in Aurora, New York.

    Henry Wells passed away in Glasgow, Scotland, two days before his 73rd birthday.

    William George Fargo

    William George Fargo - Founder, Wells Fargo
    William George Fargo – Founder, Wells Fargo

    William G. Fargo was a pioneer American expressman who also served as Buffalo’s 27th mayor from 1862 to 1866, all of which occurred during the American Civil War. When Fargo was 13 years old, he stopped attending school and began delivering mail for his native New York village of Pompey. He started working as a freight agent for the Auburn and Syracuse Railroad in Auburn in 1841, acting as an express messenger between Albany and Buffalo. In 1852, he co-founded Wells Fargo & Company with his partner, Henry Wells.

    William G. Fargo passed away on August 3, 1881. He is the inspiration for Fargo Avenue in Buffalo, the Fargo Quadrangle at the University at Buffalo, and Fargo, North Dakota.

    Charles W. Scharf

    Charles W. Scharf - CEO and President, Wells Fargo
    Charles W. Scharf – CEO and President, Wells Fargo

    Charles W. Scharf is the CEO and President at Wells Fargo. He is also a member of the Board of Directors of Wells Fargo & Company. Prior to this, he held leadership positions at prominent organizations. Charles served as the CEO of the Bank of New York Mellon from 2017 to 2019 and was also the chairman of its board. He has also served as the CEO and director of Visa Inc. from 2012 to 2016.

    Charles has a B.A. from Johns Hopkins University and an MBA from New York University.

    Wells Fargo – Startup Story

    The two founders’ passion led them to establish Wells Fargo. It is documented that it was during the technological revolution when Henry Wells and William G. Fargo started their professional lives. An era when more interconnected communities and economies were made possible by trains, canals, and stagecoaches. As a result, there was an increase in demand for trustworthy locations to access money while traveling, as well as safe ways to send payments.

    Using this opportunity, both the founders established a network of offices from California to New York and all over the world, using their practical experience delivering money and valuables by steamboat, railroad, pony ride, and stagecoach. When the economy was changing rapidly, their network offered customers consistency and support. Through a network of agents, it also started offering fundamental financial services like money orders and fund transfers.

    By the end of the California Gold Rush (1855), the company was a leading express and banking company in the West, shipping large quantities of gold as well as supplies and mail. Wells Fargo had 6,000 locations connected to its network by 1910, and by 1918, the company had more than 10,000 communities nationwide.

    Customers wary of transacting with distant partners used Wells Fargo because they knew they could rely on their neighborhood Wells Fargo agent to represent them.

    During the 1980s and 1990s, Wells Fargo made a series of acquisitions and introduced many subsidiaries. In May 1995, Wells Fargo became the first significant US financial services company to offer Internet banking.

    Much has changed since the inception of Wells Fargo. Through the ages and every generation, the firm has kept up its tradition of assisting clients in moving forward by offering cutting-edge financial services.

    The firm even has a dedicated museum, the Wells Fargo Museum, in the same place where it first started its business in 1852, in San Francisco. It has all of its artifacts from the past and information on different people who have helped shape what Wells Fargo is today. One can visit the museum between 10 AM to 5 PM for free from Monday to Friday.

    Wells Fargo – Mission and Vision

    Wells Fargo always had the goal of serving their customers properly by being a reliable financial service provider to all their finance needs.

    The mission of Wells Fargo is, “helping customers succeed financially”

    Wells Fargo Logo
    Wells Fargo Logo

    Wells Fargo’s name comes from the two founders’ surnames; Henry Wells and William G. Fargo.

    The company goes by the tagline, “It all begins with you”.

    Wells Fargo – Business Model

    Wells Fargo offers a broad range of banking and financial products and services to corporates, governments, or institutions. The firm also provides a scope of banking, insurance, investment banking, mortgage banking, retail banking, brokerage, and consumer and commercial finance service through its subsidiaries.

    The business of Wells Fargo can be divided into three segments:

    Wealth & Investment Management

    Under this, the company offers a comprehensive range of personalized and dedicated wealth management, investment management, retirement strategies, and other services to high-net-worth families and individuals.

    Wholesale Banking

    Wholesale banking provides all the financial solutions to any business operating globally such as commercial banking, commercial real estate, business banking, government, and institutional banking, etc.

    Community Banking

    As the name suggests, community banking offers fully devoted and diversified financial products and services to consumers and medium-sized and small-sized businesses that include; student and small lending businesses, credit and debit cards, savings, etc.

    The company also has operations in several foreign countries, such as Canada, Latin America, Europe, Asia Pacific, and Africa, where it offers local relationship managers to businesses seeking assistance with their international operations. It has offices in Toronto, Hong Kong, London, Dubai, Singapore, and Tokyo. With more than 20,000 employees, back offices are located in India and the Philippines.

    To pinpoint the business strategy of Wells Fargo, it has given a platform to its customers where they can easily make use of its services.

    Customers can use Wells Fargo’s services either through an online banking service or its mobile app. They can use these services to move money, schedule recurring payments, manage account information, and apply for financial products without even speaking to anyone from the Wells Fargo staff.

    What It’s Like to Work for Wells Fargo in India

    Wells Fargo – Revenue Model

    Talking about the revenue model of Wells Fargo, the firm generates most of its money by offering a range of private banking and commercial banking services to consumers, with the majority of its income coming from the charging of fees and commissions.

    In 2022, the company’s revenue stood at $73.8 billion.

    Wells Fargo – Mergers and Acquisitions

    Wells Fargo has made several acquisitions to date. The details of some of the latest acquisitions are listed below:

    Date Acquiree Name Amount
    Apr 27, 2012 Merlin Securities —
    May 26, 2011 Castle Pines Capital —
    Sep 29, 1999 Ragen Mackenzie $240 million

    In addition, the firm has also merged with some companies.

    The banking and express divisions of Wells Fargo were split off in 1905, and the company’s bank merged with the Nevada National Bank to form the Wells Fargo Nevada National Bank.

    The Union Trust Company and Wells Fargo Nevada merged in 1923 to form the Wells Fargo Bank & Union Trust Company.

    The name Wells Fargo & Union Trust was shortened to Wells Fargo Bank in 1954. To create the Wells Fargo Bank American Trust Company, it merged with American Trust Company four years later. In 1962, it went back to being known as Wells Fargo Bank.

    Wells Fargo – Investments

    The details of Wells Fargo investments are as follows:

    Date Organization Name Funding Round Money Raised
    Mar 15, 2023 Leeward Renewable Energy, LLC (LRE) Debt Financing $185 million
    Feb 15, 2023 Dreamscape Debt Financing –
    Feb 9, 2023 Soil Health Institute Grant $300K
    Jan 18, 2023 Lightsource bp Debt Financing $267 million
    Jan 6, 2023 Realty Income Corporation Post-IPO-Debt $1 billion
    Nov 29, 2022 Greenwood Bank Series B $45 million
    Nov 16, 2022 HomeZada Grant $250K
    Nov 14, 2022 BB Energy Debt Financing $580 million
    Oct 25, 2022 Bilt Rewards Series B $150 million
    Oct 14, 2022 BWX Technologies Post-IPO-Debt $250 million

    The company has also made 16 diversity investments. Here are the most recent ones:

    Date Organization Name Funding Round Money Raised
    Feb 25, 2022 Miami Foundation Grant $20 million
    Nov 7, 2021 H2O.ai Series E $100 million
    Mar 25, 2021 Greenwood Bank Series A $40 million
    Oct 29, 2019 Accion Serving San Diego Grant $300k
    Aug 27, 2019 Wisconsin Women’s Business Initiative Corp(WWBIC ) Grant $500K
    Aug 20, 2019 H2O.ai Series D $72.5 million
    Jul 11, 2019 Fyde Seed Round $2 million
    Dec 12, 2018 AtScale Series D $50 million

    Wells Fargo – Philanthropic and CSR Activities

    Wells Fargo has also established itself when it comes to serving communities and societies through its CSR activities. It offers solutions such as diversity and inclusion, community giving, economic empowerment, environmental and social impact, and so on.

    The company announced a $1 million donation to the American Red Cross on March 2, 2022, to help refugees from the Russian invasion of Ukraine.

    Not only this but, the Wells Fargo Foundation made the announcement in April 2022 that it would donate $210 million to advance racial equity in homeownership. The Wealth Opportunities Restored through Homeownership (WORTH) grants, which will be given out with $60 million of the donation, will last until 2025. In order to help minority homeowners, an additional $150 million will be invested in lowering mortgage rates and lowering refinancing costs.

    Wells Fargo – Awards and Achievements

    • Wells Fargo was recognized as the Global Best in Service for US Dollar cash management for financial institutions by Euromoney magazine.
    • Wells Fargo was awarded as the Best Private Bank Globally for its philanthropy services by the Financial Times Group.
    • Greater Des Moines Partnership awarded Wells Fargo an Inclusion Award Winner 2021 for supporting diversity, equity, and inclusion.

    Wells Fargo – Competitors

    Here are the top competitors of Wells Fargo:

    Citigroup | Third Largest Banking Institution | Company Profile |
    Formed by the merger of banking giant Citicorp and Travellers Group, Citigroup is the 3rd largest banking institution. Know more about its business model
    StartupTalkySarika Anand

    Wells Fargo – Future Plans

    Even after facing significant challenges and scrutiny in recent years, Wells Fargo is still one of the big four banks in the US. The company has maintained itself and shown potential growth over many years. Furthermore, the company has a strong franchise base with which it can become a leaner organization and continue to preserve its status in the market today. Overall, Wells Fargo’s future plans involve maintaining its position as a leading financial institution by making improvements and investments to drive growth.

    Wells Fargo – FAQs

    When was Wells Fargo founded?

    Wells Fargo was founded in 1852.

    Who started Wells Fargo?

    Wells Fargo & Company was established in 1852 by Henry Wells and William G. Fargo.

    Who is the CEO of Wells Fargo?

    Charles W. Scharf is the CEO of Wells Fargo.

    Where is Wells Fargo’s headquarters?

    Wells Fargo’s headquarters are in San Francisco, California.

  • Has Crypto Died as an Investment After FTX’s Collapse?

    The recently unveiled FTX crypto scandal has sent shivers down the spine of the crypto world with crypto prices reaching an all-time low. In October 2021, Bitcoin witnessed a massive peak of over $65,000 whereas now it struggles to conquer the $20,000 mark.

    Thanks to the stunning collapse of FTX, investors are believed to have lost over a trillion dollars since. Not only have crypto prices gone to the ground, but the industry now faces several macroeconomic challenges, market forces, and multiple other scandals.

    What was deemed a spectacular winter of 2022 for crypto inventors suddenly turned into a disastrous week since the news of the FTX scandal. Back in November 2021, there was an explosion of non-fungible tokens (NFTS) in the crypto market with crypto investors deeming Ethereum as the world’s most influential developer.

    But just a year after peak crypto, crypto now lingers at the bottom with Bitcoin and Ethereum believed to have lost almost three-quarters of their value. Moreover, the entire crypto industry once valued at a whopping $3 trillion now sits at a bare minimum of $900 billion.

    Which was widely used as a hedge against inflation has taken a deep plunge leading to investors questioning whether crypto has died as an investment.

    Why Have Crypto Prices Plunged?
    What Is the FTX Scandal?
    How Do FTX’s Troubles Impact the Crypto Market?
    Will Crypto Bounce Back?

    Why Have Crypto Prices Plunged?

    As we mentioned above, a three trillion dollar market now sits in the billions. In 2021, crypto prices witnessed an all-time high. However, just a year later, crypto faced its worst days after having lost over half its market valuation.

    The impact of the FTX scandal can be seen throughout the entire crypto market. Since the incident, the company has officially filed for bankruptcy with founder and CEO Sam Bankman-Fried having already resigned from his post.

    As per official reports, lack of liquidity and mismanagement of funds were the primary reasons why the FTX scandal happened. Moreover, the rapid withdrawal in large volumes by customers has further dipped the value of FTX’s native token, FTT.

    But apart from the FTX saga, here are some of the reasons why crypto prices plunged:

    Regulations

    The money market and regulations have never had a good history and usually don’t get along. The crypto industry regulations are marred by multiple misconceptions and trust issues about the use of digital assets.

    But with crypto having no central authority, every country tends to have its unique set of regulations for the crypto sector and a plethora of policies on what makes crypto a legal payment system. However, the lack of clarity on the matter is the reason why many analysts believe that crypto cannot be mainstreamed anytime soon.

    Following the FTX scandal, analysts believe that governments may further amp up the regulations to enforce strict enforcement laws to improve regulatory scrutiny.

    Scams and Ponzi Schemes

    The lack of regulations around the crypto market has made it vulnerable to scams and several Ponzi schemes. These scams and Ponzi schemes, in addition to market volatility, have led to several events that have compromised market liquidity in turn leading to catastrophic situations.

    Not only did FTX take down its native token FTT, but it also managed to drag down other popular crypto tokens such as Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and so on. The prices have corrected sharply following multiple liquidations caused by the FTX issue.

    Value of Venture Capital, Private Equity, and M&A Investments Made in Blockchain and Cryptocurrency Worldwide
    Value of Venture Capital, Private Equity, and M&A Investments Made in Blockchain and Cryptocurrency Worldwide

    What Is the FTX Scandal?

    FTX was a digital market-placed launched by founder Sam Bankman-Fried in 2019 to buy and sell digital assets. This launched marketplace soon emerged as an accessible crypto exchange that went on to outsize its origin and found itself becoming a source of mainstream attention.

    By the summer of 2022, the company had made several headlines with its name in the NBA arena. In 2022, FTX managed a whopping $32 billion valuation from some of the most brilliant minds in Silicon Valley. However, a conducted audit concluded that FTX’s books didn’t tally and were completely out of sorts.

    Furthermore, the audit also stated that the company had misused its customer funds with a trading firm for nearly two weeks. This led to a massive fallout shifting the entire business into the hands of the regulators and the cash nowhere to be found.

    What was once valued at $32 billion has now sunk to bankruptcy with its liquidity all dried up due to intense customer withdrawals. Instead of the situation, Binance, the rival crypto exchange that was in the frame to buy FTX, ripped up the non-bidding agreement of buying the company.

    The FTX crash took several major tokens down with them. Not only did the crypto exchange tank in the crypto market, but the company also faced an apparent hack that drained over $600 million from user wallets on the same day.

    Moreover, Bloomberg’s report further states that the company might have limited funds to repay its investors. Founder and CEO Sam Bankman-Fried has officially resigned as the firm filed for Chapter 11 bankruptcy in November 2022.

    The Rise and Fall of FTX, FTT And Alameda Research

    How Do FTX’s Troubles Impact the Crypto Market?

    The first major impact of the FTX scandal is already visible with the entire crypto industry’s massive drop in valuation. Additionally, it has had a profound impact in various ways on the crypto market. Here is how FTX troubles have impacted the crypto market in its entirety:

    • Bitcoin’s value has dropped considerably with the latest amounting to $16,000 as of November 9. Also, bitcoins worth $3.2  billion were taken off numerous crypto exchanges between the 8th and of 15th of November 2022.
    • Furthermore, Ethereum too has dropped below $1,100.
    • A report from Coindesk indicated that Alameda held a huge chunk of Solana which had dropped below $13 on November 9, 2022, respectively.
    • In addition, Solana’s networking applications have also felt the heat following a loss of $700 million in assets.

    Every major token such as bitcoin, Ethereum, and other Defi tokens too has fallen by a much greater percentage than the rest. According to Coinmarketcap.com, the crypto market cap further fell to $831 billion as dated on 17th November.

    Bitcoin recorded its lowest intraday trading volume followed by a massive drop in price and valuation. In addition, Ethereum too was volatile and completely directionless with no price moves. However, it did manage to keep up a steady trading value.

    Will Crypto Bounce Back?

    If crypto has taught us one thing is that the entire crypto market works in cycles. This means there are going to be a few lows before the market finally rebounds. From what we’ve seen so far, the crypto market pattern is definitive enough to tell us that it will bounce back and register new highs.

    However, amid the recent FTX scenario, the future of cryptocurrency seems bleak as analysts believe that the FTX scandal has pushed back the cryptocurrency by at least 5 years. The trillion-dollar industry now sits in the billions and it will be interesting how it will make up for lost time and valuation.

    If history is evidence, then it’s evident enough to state that this isn’t the only time the crypto market has reached a new low. Back in 2011, when barely anyone knew about digital currencies, Bitcoin crashed from $32 to $2 between July 2011 and January 2012 and it wasn’t until 2013 that prices slowly started rallying up.

    This bearish trend was once again visible between 2014 to 2016 when Bitcoin plunged from $1,135 in December 2013 to $175 in January 2015. This was back when Mt Gox, one of the biggest crypto exchange platforms was hacked where hackers stole nearly 850,000 worth of Bitcoin.

    The consequences were severe as BTC dipped to nearly 85% in value and it wasn’t until August 2015 before the market started rallying up once again. Following the 2014-2016 debacle, the 2018 bearish trend saw BTC drop from $19,640 in December 2017 to $3,185 in December 2018.

    Unlike the previous bearish trend, there was more than just one reason that contributed to Bitcoin’s downfall, which sank nearly 84% in 2018. The recent FTX scandal marks yet another bearish trend of 2022. Bitcoin tumbled nearly 8 times in September 2022 before finally picking up the pace in October 2022.

    However, just when people thought the crypto market was stabilized, it was met with the FTX scandal. In addition to the FTX implosion, inflation, and rising interest rates have already led to a level of economic uncertainty in the country. All this is slowly driving investors to sell their risky crypto assets throughout the year.

    But as we said, the crypto market is cyclic and there will be few bearish trends before we witness a trend reversal into a bullish trend.

    Can cryptocurrency change your financial life?
    The article has been published in collaboration with the Binance TeamCrypto is a hot topic nowadays, so wanting to know more about it is only natural. Why do so many people invest in these digital assets? Are they reliable? Can you really become rich by investing in them? When learning
    StartupTalkyTeam Binance

    Conclusion

    The 2022 bloodbath has raised significant eyebrows on whether crypto is forever doomed. While pundits believe that it’ll eventually bounce back, financial experts worldwide expect crypto to never recover. Nevertheless, it could take a while before you can see the gains on the existing cryptos in the market.

    Having said all that, crypto remains a vital part of the modern-day market. Despite this year’s major tank, there are several crypto projects in the pipeline that will encourage you to invest. You don’t have to keep your arms folded until these projects go public as you can invest in them anytime.

    Although there are multiple tokens available on crypto exchanges, cryptocurrency as a whole remains a highly volatile market and a relatively risky investment. As an investor, one should always be looking to expand their portfolio. However, high-risk investments such as crypto should always make up only a small part of your portfolio. To tackle this high risk, diversifying your range of crypto tokens is perhaps the best solution.

    FAQs

    Why did the FTX scandal happen?

    As per official reports, lack of liquidity and mismanagement of funds were the primary reasons why the FTX scandal happened.

    Is crypto still a good investment?

    Cryptocurrency is still a high-risk investment and should be approached with caution. Investors should consider their overall portfolio and only allocate a small portion to crypto investments.

    Will crypto bounce back?

    If crypto has taught us one thing, it’s that the entire crypto market works in cycles. From what we’ve seen so far, the crypto market pattern is definitive enough to tell us that it will bounce back and register new highs.