The US Dollar is the most commonly held currency in the world today holding over 60% of global foreign reserves. All the countries across the globe, including India, measure their currency values against USD in the global market. The fluctuating value of any currency against USD 1 is called the exchange rate.
Global trade is possible because of the existence of exchange rates and it is an important determinant of any country’s economic prowess.
It has been 75 years since India became a free country. Since then, the country’s currency has been on a roller-coaster ride against the US dollar. There have been various reasons for the largely downward trajectory of the INR’s journey including economic reforms, geopolitical issues, and even international issues. Currently, the Indian Rupee’s value against USD 1 is approximately INR 82.
It all began with the Bretton Woods Agreement in 1944 which required each country to measure its currency against the US Dollar. The dollar itself was convertible to gold at the rate of USD 35 per ounce. Being a part of this agreement, India followed the par value system of relative exchange rates. As the country was under British rule, INR value was derived from the British pound which was GBP 1 equaled INR 13. Similarly, GBP 1 equaled USD 2.73, which roughly translated to USD 1 equalling INR 4.76.
History of Indian Rupee vs US Dollar
INR Journey Post Independence
The journey of the Indian Rupee against the US Dollar can be mapped in different phases since India won independence.
Phase I – From Independence to the 1960s
India gained independence from British rule on 15th August 1947. It was a time of great turmoil as the country’s economy was in shambles. In a bid to jump-start the economy, the first prime minister, Jawaharlal Nehru adopted the five-year plans from Russia and began consistent loan borrowing in the 1950s which substantially increased in the 1960s.
However, even with increased borrowing, the country’s economy was facing a budget deficit which was further aggravated by the two wars in the decade. The first was the Indo-China war of 1962 and the second was the Indo-Pak war of 1965. Then struck the natural disaster of drought in 1965-1966. All of these added to increased spending on defense which reached a high of 24.06% of the total government expenditure.
Also, by 1966, the Indian Rupee finally moved away from the rate comparison of GBP 1 equalling INR 13 to a direct comparison with the US Dollar. All the economic upheaval of the previous years led the then Prime Minister to devalue the Indian Rupee to INR 7.50 against USD 1, which till then, had held a constant value of INR 4.76 against USD 1. This devaluation, in return, led to cheaper exports and expensive imports resulting in sharp inflation.
Phase II – Reduced Oil Production by OAPEC – The 1970s Decade
This was a decade of two major changes. First, the Bretton Woods Agreement collapsed in 1971, which meant India adopted the fixed rate system, linking its currency exchange rate to the UK Pound Sterling. A couple of years later, in 1973, the Organisation of Arab Petroleum Exporting Countries (OAPEC) decided to reduce oil production. By 1974, the INR value further deteriorated to INR 8.10 against USD 1 in reaction to the oil crisis. In a bid to ensure stability and to its currency and to ensure that the increasing disadvantages of associating with a single currency were curbed, the Indian Rupee was pegged to various other currencies as well.
Phase III – The 1980s and 1990s
The two decades of the 1980s and 1990s were politically unstable for India. The assassination of Prime Minister, Indira Gandhi, in 1984 reduced foreign investor confidence in the economy. A few years later, in 1991, the Soviet Union collapsed, which was, till then, a crucial trade partner of India. This led to a sudden and large export fall. The Persian Gulf nations had doubled crude oil prices just a year prior leading to India facing a serious balance of payment crisis. The fiscal deficit of the country decreased to 7.8% of the GDP and the interest payment rose a whopping 39% of the total government’s revenue. Furthermore, the WPI inflation within the country was around 14%. The country was on the brink of bankruptcy and had no choice but to further borrow money from IMF (International Monetary Fund) against its gold reserves.
This severe economic crisis of 1991 was dealt with by the then government by further devaluing the Indian Rupee and by 1992 the exchange rate of USD 1 was INR 25.92.
Phase IV – The 21st Century
The Indian Rupee’s decline continued into the new century and by 2002 it was valued at INR 48.99 against USD 1. However, this also proved to be a turning point in the country’s economy as Foreign Direct Investment (FDIs) increased within India and sustained till 2007 when the Indian Rupee appreciated reaching INR 39.27 against USD 1.
Unfortunately, the global financial market collapsed in 2008 ending the upward trend of the Indian Rupee and by 2009 it fell to a record of INR 51.75 against USD 1. Contributing global and domestic factors saw the INR further fall to 56.57 against USD 1 by early 2013.
Three years later, in an effort to combat corruption and black money within the economy, the Indian government announced demonetization which discontinued Rs. 500 and Rs. 1000 notes with immediate effect. This led to almost 86% of the country’s currency being invalid adversely impacting consumption patterns, investment, and income. It was also a major push to a new digital India, thereby increasing cashless transactions. However, in 2016, the value of the Indian Rupee further decreased to INR 68.77 against USD 1.
Last but not least, was the global economic crises that followed in the wake of the coronavirus pandemic of 2020 and the ongoing war between Russia and Ukraine. Currently, the exchange rate of the Indian Rupee against the US Dollar is approximately INR 82.7.
The journey of the Indian currency against the US dollar is also a testament to the economic journey of the country since independence. Being one of the fastest-growing economies today and also one of the top 5 in the world, India is in a strong position of recovery. It will be interesting to watch how the Indian currency fares against the US dollar in the coming days.
FAQs
What factors affect the exchange rate between the Indian rupee and the US dollar?
Several factors can affect the exchange rate between the Indian rupee and the US dollar, including:
Interest rates
Inflation
Economic performance
Political stability
Trade balance
Capital flows
Monetary policies
How has the exchange rate between the Indian rupee and the US dollar changed over time?
The exchange rate between the Indian rupee and the US dollar has varied over time due to economic and political factors. The rupee has appreciated and depreciated against the dollar at different times, influenced by global economic conditions, monetary policies, and geopolitical events.
How do changes in oil prices affect the exchange rate between the Indian rupee and the US dollar?
Oil price changes impact India’s import bill and can affect the exchange rate between the Indian rupee and the US dollar. Higher oil prices lead to a higher import bill, putting pressure on the rupee, while lower oil prices can support the value of the rupee.
What is the role of the Reserve Bank of India in managing the exchange rate between the Indian rupee and the US dollar?
The RBI manages the exchange rate by intervening in the foreign exchange market, using monetary policy tools, and managing India’s foreign exchange reserves.
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.
Slack is a popular team communication and collaboration platform that allows users to easily communicate and share information in real time. With Slack, you can create channels for different topics or projects, and have team members join the channels that are relevant to them. You can also direct message other team members for quick, one-on-one conversations.
Slack also offers a wide range of integrations with other tools and services, such as Google Drive, Trello, and Jira, making it a versatile and flexible solution for teams of all sizes. Additionally, Slack offers robust search capabilities, making it easy to find the information you need. Overall, Slack is a great tool for improving team communication, productivity, and organization.
With over 2,000 apps and a robust API, the Slack platform team works with partners and developers globally to build apps and integrations that streamline their client’s work, automate mundane tasks and bring context into their clients’ conversations in Slack.
Slack Technologies is an American international software company that designs and develops a communication platform that provides real-time messaging, file sharing, archiving, and searching services for teams. Slack offers a team communication tool that consists of a set of open, documented application programming interfaces (APIs), developer tools, and an App Directory that lists apps that have met the guidelines.
Organizations on Slack use its platform to create internal applications and integrations, ranging from simple notifications to complex internal workflows. Third-party developers build integrations and applications that make it easier for their existing customers to engage with their products as well as find new customers.
Slack is a layer of business technology, where people work together to connect all their other software tools and services and find the information they need. Slack users communicate with one another by posting messages to a channel or sending direct messages to a person or a group of people. Slack’s core organizing principle is the channel, which brings the right people together to collaborate, share information, and get work done. Channels offer flexibility and can be organized by project, topic, team, or whatever makes sense for a specific task or situation.
Slack enables communication and collaboration among organizations via shared channels and guest accounts. Shared channels securely connect the Slack workspaces of different organizations, enabling the same level of communication and collaboration between enterprises that Slack brings to teams within an organization.
Slack – Logo and its Meaning
Slack’s logo resembles a hashtag or octothorpe. The hashtag is an organizing element in the platform, signaling the beginning of the channels where teams can talk about individual projects.
Slack Logo
Slack – Founder and History
Slack is famous for reaching a valuation of $1B after just eight months without spending a penny on traditional advertising or a Chief Marketing Officer. Slack was a runaway success because it had a multi-year head start on everybody else.
Stewart Butterfield | Founder & CEO, Slack
Slack founder and CEO Stewart Butterfield and his team set out to create something new and original for the massively multiplayer online role-playing game (MMORPG) market. As it turns out, they revolutionized how companies communicate at work instead.
Video game developers might not seem like the most logical group to make a sticky, engaging communications tool for today’s workplace, but Tiny Speck’s expertise in gaming was a major competitive advantage. Butterfield and his team already knew how to make repetitive tasks fun and engaging, as this is core to the gameplay experience of the MMORPG genre. Making work-based communication fun and engaging would be the secret sauce that made Slack so wildly successful.
” We live by our mission, and improving people’s working life starts with our own company. We’re building a platform and products we believe in – as well as a strong, diverse team of curious, creative people who want to do the best work of their lives and support each other in the process. ”
Slack – Business Model
Slack advertises that it is completely free to use for as long and with as many people as you want. So how does it make money?
Well, a percentage of organizations pay premiums for special features. Such features include access to an unlimited communication history, unlimited app integration, additional file storage, screen sharing, statistics, and more. With no apparent plans to run ads shortly, Slack relies on a simple business model, charging monthly fees of $7.25 per user for the standard subscription and $12.50 per user for the plus subscription. It has also launched Enterprise Grid for larger organizations that have tens of thousands of users.
Slack – Revenue and Growth
For the Q1 Fiscal year 2022:
Total revenue was $273.4 million, representing year-over-year growth of 36%.
GAAP gross profit was $234.1 million, or 85.6% gross margin, compared to $176.0 million, or 87.3% gross margin, in Q1 FY21.
Non-GAAP gross profit was $238 million, or 87.1% gross margin, compared to $179.2 million, or 88.9% gross margin, in the first quarter of FY21.
GAAP operating loss was $55.3 million, or (20.2)% of total revenue, compared to a $76.2 million loss in the first quarter of FY21, or (37.8)% of total revenue.
Non-GAAP operating income was $10.8 million, or 4.0% of total revenue, compared to a $16.6 million loss in the first quarter of FY21, or (8.3)% of total revenue.
GAAP net loss per basic and diluted share was $0.05. Non-GAAP net income per diluted share was $0.08.
Slack has raised a total of $1.4B in funding over 13 rounds. Their latest funding was raised on Jan 28, 2019, from a Secondary Market round. Slack is funded by 45 investors. Light Street Capital and General Atlantic are the most recent investors.
Date
Round
Amount
Lead Investors
Jan 28, 2019
Secondary Market
–
–
Aug 21, 2018
Series H
$427M
Dragoneer Investment Group, General Atlantic
Sep 17, 2017
Series G
$412.7M
SoftBank Vision Fund
May 1, 2017
Secondary Market
–
–
Apr 1, 2016
Series F
$208M
Thrive Capital
Apr 16, 2015
Series E
$172.7M
Social Capital
Oct 31, 2014
Series D
$110.8M
GV, Kleiner Perkins
Apr 27, 2014
Series C
$42.8M
Social Capital
Apr 1, 2011
Series B
$10.7M
Accel, Andreessen Horowitz
Apr 1, 2010
Series A
$5M
Accel
Slack – Investments
Slack has made 24 investments. Their most recent investment was on Oct 19, 2021, when Electric raised $90M.
Date
Organization Name
Round
Amount
Oct 19, 2021
Electric
Seed Round
$90M
Jul 21, 2020
Crosschq
Seed Round
$6.5M
May 7, 2020
Compt
Seed Round
$1.5M
Mar 18, 2020
Meru Health
Series A
$8.1M
Sep 24, 2019
Sentry
Series C
$40M
Apr 4, 2019
Halp
Seed Round
$2.6M
Jan 30, 2018
Astound
Venture Round
$3.3M
May 22, 2017
Loom
Seed Round
$3.2M
May 1, 2017
Parabol
Convertible Note
$550K
Feb 9, 2017
Demisto
Series B
$20M
Slack – Acquisitions
Slack was acquired by tech giant Salesforce in an agreement for a value of approximately $27.7 billion. This gives Slack the to compete with its competitors on a bigger platform. Now slack can target a bigger audience through Salesforce. This megadeal was said to be a “Deal made in heaven”.
Salesforce Acquires Slack on January 2021
Slack has acquired 7 organizations. Their most recent acquisition was Rimeto on Jul 8, 2020.
Acquiree
Date
Round
About Acquiree
Rimeto
Jul 8, 2020
–
Rimeto is an enterprise directory that provides customers with detailed employee profiles and information.
Astro Technology
Sep 24, 2018
–
Astro has been acquired by Slack! We’ve shut down our apps, but you can find us at Slack making email and channels work better together
HipChat
Jul 27, 2018
–
HipChat is a private group chat and IM network that provides real-time collaboration features for companies and teams.
Stride
Jul 27, 2018
–
Stride is a cloud-based team business communication and collaboration tool.
Missions
Jul 17, 2018
–
Missions is an enterprise software startup
Screenhero
Jan 28, 2015
–
Screenhero lets users screen share any application with anyone, no matter where they are.
Spaces
Sep 26, 2014
–
A Program that allows remote workers to collaborate on the same document simultaneously.
Slack – Competitors
Slack’s main competitors include Microsoft Teams, Zoom, Skype, Flock, Telegram, Mattermost, Rocket Chat, Hangout Chat, Matter most, Ryver, CAFlowdok, etc.
“People deserve to do the best work of their lives,” Slack co-founder and chief executive officer Stewart Butterfield said in a video released alongside a live stream of its investor day event. “This desire of feeling aligned with your team, of removing confusion, of getting clarity; the desire for support in doing the best work of your life, that’s universal, that’s deeply human. It appeals to people with all kinds of roles, in all kinds of industries, at all scales of organization and all cultures.”
Slack currently boasts more than 12 million daily active users across more than 600,000 organizations — over 88,000 on the paid plan and more than 550,000 on the free plan.
There are a lot of privacy and security aspects to these Slack-based communications, and Slack will provide granular options for IT admins to manage exactly what’s shared. Slack is also improving its channels’ user interface, so it’s very clear when you’re using a shared channel and who is participating in the channel.
There’s even some machine learning going on that will allow Slack to scan calendars across multiple organizations and help workers create meetings at appropriate times when everyone is free. Slack apps can also be shared across organizations, as long as both parties have them installed in their Slack instance. Slack has a big incentive to gradually move businesses away from email.
“We believe that whoever is able to unlock that potential for people … is going to be the most important software company in the world. We aim to be that company,” he added.”
Conclusion
Being the fastest-growing startup in history isn’t the only thing that makes Slack unique. Its product development process was unorthodox. Slack was born out of a gaming company called Tiny Speck. Butterfield and his team didn’t intentionally set out to create a SaaS product for the workplace. They built a tool for themselves. They only realized their tool’s commercial potential later on.
FAQs
What do slack technologies do?
Slack is the collaboration hub that brings the right people, information, and tools together to get work done.
When was Slack founded?
Slack was founded in 2009.
Who founded Slack?
Slack was founded by Stewart Butterfield, Eric Costello, Cal Henderson, and Serguei Mourachov.
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.
The transaction is the heart of the developing business world. It revolutionizes the global economy with its circulatory nature. Safety and Reliability are the main factors that define what the best transaction is, and thus describe the company PayPal.
PayPal, a company based in the United States, is a digital payment platform that allows individuals and businesses to send and receive money online. It is widely accepted as a payment method for online transactions and can also be used for in-store purchases. PayPal also offers other services such as money transfers and the ability to pay bills and make purchases through a mobile app. It is a fast, secure, and convenient way to manage money.
Let’s go through the Amazing Journey of PayPal along with getting a glance at PayPal’s Business Model, Founders, Revenue, Growth, Competitors, and more.
PayPal – Company Highlights
Startup Name
PayPal
Headquarters
California, United States
Sector
Financial technology
Founders
Peter Thiel, Max Levchin, Luke Nosek, Ken Howery, and Yu Pan
PayPal was established as ‘Confinity’ in December 1998 by Max Levchin, Peter Thiel, and Luke Nosek. The company functions as a payment processor in many e-commerce sites, and auction sites. PayPal’s first electronic payment was launched in 1999. Being the PayPal platform, Braintree, Venmo, and Xoom enable users in flexible transactions with different currencies. The company was acquired by eBay in 2002 and got separated in 2015.
PayPal – Founders and Team
PayPal was founded in 1999 by Max Levchin, Peter Thiel, and Luke Nosek.
Dan Schulman is the President and CEO of PayPal. He did his Bachelor’s from Middlebury College and an MBA from New York University Stern School of Business. He was the former president of Sprint’s Prepaid Group and he was also the CEO of Virgin Mobile. He now works towards democratizing the financial services of billions of people. The core team of PayPal is as follows:
Mark Britto – EVP, Chief Product Officer
John Rainer – CFO and EVP, Global Customer Operations
Louise Pentland – EVP, Chief Business Affairs and Legal Officer
Jonathan Auerbach – EVP, Chief Strategy, Growth, and Data Officer
Peggy Alford – EVP, Global Sales
Aaron Karczmer – Chief Risk Officer and EVP, Risk, and Platforms
Sri Shivananda – SVP, Chief Technology Officer
Franz Paasche – SVP, Corporate Affairs
Gabrielle Rabinovitch – VP, Investor Relations
PayPal – Vision and Mission
PayPal’s vision is to democratize financial services and empower people and businesses to prosper in the global economy.
‘Paying your Pal’ is the focus of the company, which gave rise to the name ‘PayPal’. ‘Because you have to’ and ‘Safe Hai’ are the taglines that PayPal used before.
PayPal Logo
PayPal – Growth and Revenue
PayPal’s revenue for the twelve months ending September 2022 was $27.053 billion, a 10.11% increase from 2021.
PayPal currently has over 432 million active users with more than 200 markets around the world.
PayPal – Funding and Investors
PayPal has raised a total of $216M over six different funding rounds.
PayPal charges its customers and merchants with net transaction fees which are based on Total Payments Volume. It also makes money through other value-added services such as from interest and fees earned on loans.
In the Forbes list, PayPal ranks 123rd among World’s Top Female-Friendly Companies (2022) and 45th in World’s Best Employers (2022). It is also recognized as America’s Best Employers By State (2022).
By revenue, PayPal was ranked 143rd on the 2022 Fortune 500 of the largest US corporations.
Paypal has several plans and initiatives for the future, including expanding its services to more countries and regions, increasing the number of businesses that accept PayPal as a payment method, and developing new products and features to enhance the user experience.
Some of the specific plans that have been announced include the launch of a new service called “PayPal Commerce Platform” which allows businesses to easily manage their transactions across multiple sales channels, and the development of new technology such as biometric authentication to make payments more secure.
Additionally, Paypal is planning on expanding its cryptocurrency capabilities by allowing users to buy, hold, and sell digital assets.
Conclusion
PayPal is a widely-used and convenient online payment platform that allows individuals and businesses to easily send and receive money. With its secure and user-friendly features, it has become a popular choice for online transactions.
FAQs
Who is the founder of PayPal?
Ken Howery, Max Levchin, Luke Nosek, Yu Pan, and Peter Thiel are PayPal founders.
Where is the new owner of PayPal?
Dan Schulman is the current president and CEO of PayPal, and the former eBay CEO John Donahoe is serving as chairman.
Where is PayPal headquarters?
PayPal’s corporate headquarters are in San Jose, California, U.S., whereas the operative center is in La Vista, Nebraska, U.S.
Is it free to use PayPal?
Yes, it is free to use PayPal unless it’s a business transaction involving currency conversion or you want an instant bank transfer.
The Drone Industry in India has recently flourished due to various uses in the Defence sectors along with civilian and commercial organizations. One of the major Defence Laboratory in India DRDO (Defence Research and Development Organisation has invested greatly in the Research and Development of Drones with a focus on the needs of Indian Defence scenarios.
In India, Revenue in the Drones segment amounts to $23.62 Mn in 2023. The market will show annual growth of 8.12% (CAGR 2023-2027). The drone volume is expected to amount to 100,000 pieces by 2027 and will show a growth of 14.6% in 2024.
Revenue in the Drones Segment in India from 2014 to 2027
Modern drones are easily accessible, and the market is full of brilliant flying machines. If you’re looking to buy a drone, then you have to know the functionalities and features of the drone.
Drones are of major use in:
Assisting aid agencies during humanitarian crises and disaster management,
monitoring wildlife activity, animal tagging, and conducting anti-poaching patrols,
helping farmers with their fields with a simple bird’s eye view of their field,
providing a new perspective to journalists.
Thus, there is a huge spike in the use of drones in sectors like GIS Mapping, Topographical Surveys, Industrial inspections, Powerline inspections, pipeline inspections, railway line inspections, etc.
Here is a list of the Top Drone Startups in India which have gained acceleration in the past few years:
Vipul Singh, Yeshwanth Reddy, Suhas Banshiwala, and Nikhil Upadhye
Founded in
2013
Headquarters
Bangalore
Aarav Unmanned Systems Homepage
AUS builds autonomous drones that come with ease of operation and can be operated by any user without any specialized training. AUS is the undisputed leader of commercial drones in India as it has served key players across private and public sectors. Aarav Unmanned Systems has also developed and designed Nayan, a quadrotor for developers and researchers.
AUS claims to be performing 3D mapping & Image Processing, precision agriculture, geographical mapping and survey, aerial photography, disaster/event management, and defense surveillance.
Aero 360 provides end-to-end drone solutions for enterprises including Turnkey services, Drone tool kits, Data Processing and analysis, Training, and consulting Drone repair services. It also provides high-resolution aerial images & videos to enable better scoping, assessment, planning, surveying, design, inspection & maintenance decisions.
It provides extensive local support for repairs & maintenance through a network of drone repair centers for your Drones. The company also provides solutions including data acquisition, processing, and analysis globally through Pilot Partner Network & Centralised Data Processing for your projects.
IdeaForge
Founders
Ankit Mehta, Rahul Singh, Ashish Bhat, and Vipul Joshi
Founded in
2007
Headquarters
Mumbai
IdeaForge Homepage
IdeaForge was founded in 2007 by Ankit Mehta, Rahul Singh, Ashish Bhat, and Vipul Joshi and is engaged in the development of unmanned aerial systems that offer usability to user-centric innovations and designs. The organization is also a licensed manufacturer of UAVs approved by the Ministry of Defence. It also provides the flexibility to customize products for an array of requirements.
Its first product, Netra, is a man-portable autonomous UAV for intelligence, surveillance, and reconnaissance of moving and fixed targets. It also offers Netra V series autonomous and a man-portable small unmanned aerial vehicle that weighs less than 3 kgs.
CRON Systems:
Founders
Tushar Chhabra, Saurav Agarwal and Tomer Ktzenellebogen
Founded in
2015
Headquarters
Delhi
CRON Systems Homepage
A defense technology startup, Cron Systems was founded in the year 2015 by Tushar Chhabra and co-founders Saurav Agarwal and Tomer Ktzenellebogen, which builds Multi-sensor enabled intrusion detection systems and drones, and perimeter defense equipment. It is a leading provider of sensing products and perception software that brings vision to UAVs, automobiles, mapping, security, and other industries to enhance situational awareness.
Indian Border Security Force also installed several Cron laser walls along borders to keep a vigil on intrusion attempts across Indian borders. Cron also holds top strategic partners and investors which include YourNest Venture capital, Techstars Adelaide, and Cisco Launchpad. CRON systems offerings also include the Kavach series of advanced multi-sensor scanners and SenseEdge perception software.
DeTect Technologies:
Founders
Daniel Raj David, Harikrishnan AS, Karthik R, Tarun Mishra, and Krishnan Balasubramanian
Founded in
2016
Headquarters
Chennai
Detect Technologies Homepage
DeTect Technologies was founded by Daniel Raj David, Harikrishnan AS, Karthik R, Tarun Mishra, and Krishnan Balasubramanian in the year 2016 in Chennai with a vision of providing infrastructure services to the industrial sector including drone-based monitoring of critical infrastructure.
The company focuses on developing products that help in predicting the maintenance of oil and gas pipelines and predicting leakages. DeTect also develops a semi-autonomous drone called Noctua for the inspection of boilers and other O&G components.
Drone Tech Lab
Founders
Biswajit Dey, and Ritesh Kanu
Founded in
2014
Headquarters
Kolkata
Drone Tech Lab Homepage
The company Rchobbytech Solutions Private Limited has been greatly functioning and is excelling by offering outclassing products and services. The company manufactures Agricultural Drones, Pesticide Spraying Drones, Crop Monitoring Drones, Surveillance Drones, Drones Cameras, and Photography Drones.
Being a service provider, the company has gained expertise in offering Drone Manufacturing, Aerial Photography, Surveillance Drone, and Digital Photography services to customers. The company has also gained expertise in offering Drone Manufacturing, Aerial Photography, Surveillance Drone, and Digital Photography services to customers.
The company provides intelligent data using drones. Data collected from a drone’s view using required sensors help you to take a necessary decision about your construction project, industrial premise, historical architecture, agricultural field, or any other land. Indrones solutions also like to consider UAVs as a tool that can be used, by soldiers to gather real-time situational awareness, by a surveyor to get better data, by a farmer to assess crop health, and by filmmakers to bring in shots that were never possible before.
While being a revolutionary tool, UAVs also need to be easy to use, affordable, and most importantly, reliable, and safe. The sensors in drones can estimate dimensions like the breadth and height of any structure like a water tank or warehouse giving us an approx idea about the volume.
Conclusion
Innovation has made us believe that great things can happen and will happen. People around the world are innovating new and exciting things that will make our lives easier. Every entrepreneur has a firm belief to make this world a little better. This has led to some exciting and emerging innovations. Drones are one of them. Be ready to get a parcel delivered to your doorstep by a drone in the future. Isn’t it exciting? This has given rise to a lot of startups that investing their time and energy in making wonderful drones. Let’s wait and watch what new device or machine gets innovated in the future.
FAQs
Are drones allowed in India?
UIN for drones mandatory: No drone can be owned or operated in India unless it has been allotted a Unique Identification Number (UIN), which will be issued by the DGCA.
Are drone cameras banned in India?
According to India’s national aviation authority, the Ministry of Civil Aviation, flying a drone is legal in India, but we recommend being aware of and compliant with the drone regulations listed below before doing so.
Are drones worth buying?
If you wish to enhance your photos and/or videos, are looking for unique ways to simplify the way you do business, or are just searching for a fun weekend project, then a drone may be worth your time and money. The decision to purchase your very own drone can be difficult, especially if you’re on a budget.
Do I need a license for a drone in India?
All drones except those in the Nano category must be registered and issued a Unique Identification Number (UIN). A permit is required for commercial drone operations (except for those in the Nano category flown below 50 feet and those in the Micro category flown below 200 feet).
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 Etsy.
Everyone has vintage products, handmade things, crafty goods, etc., but there is always a shortage of such products. Money is not always the key to reach towards the things desired. People need to enter the right place at the right time. This is the only way to find out extraordinary things.
Leading Sellers on Etsy Worldwide in 2022
Etsy is such a place that especially focuses on handmade, vintage, and craft supplies. These three sections have got some categories within them. Here is the Etsy success story and exactly how it works!
Etsy is an American e-commerce company that has a wide range of categories. It includes bags, clothing, jewelry, furniture, toys, art, and tools. The specialty of the company is that it provides vintage, handmade, and crafty supplies to its customers. All vintage items available on the website have got the least age of twenty years. The present CEO of Etsy is Josh Silverman.
In the year 2005, the four founders of the company started Etsy in a Brooklyn apartment. The company started as a virtual storefront for arts and crafts. The actual vision of the four founders was to help the craftsmen sell their goods on an online platform. Rob Kalin, a founder of the company removed himself from the day-to-day operations. After a lot of struggle, today the company is an artisanal marketplace.
Etsy – Founders And Team
RobKalin, ChrisMaguire, JaredTarbell, and HaimSchoppik are the Etsy Founders.
Rob Kalin is one of the Founders of Etsy. He was the CEO of the company from December 2009 to July 2011. His CB Rank as a person is 4,224.
Chris Maguire was the Co-founder and director of Etsy from December 2004 to August 29th, 2008. Now, he is the chairman and CEO of Cypress Equities.
Jared Tarbell is an entrepreneur. He is the Co-founder of the company Etsy. His CB Rank as a person is 76,313. He completed his education at New Mexico State University in the year 2000.
The founder of Etsy Haim Schoppik is also an entrepreneur. His CB Rank as a person is 6,161.
Rob Kalin | Etsy Founder
Etsy – Logo
Etsy has a simple logo with the words Etsy written on it.
Etsy Logo
Etsy – Business Model
The Etsy business model is that of an e-commerce marketplace. It enables artists to sell handmade unique products. Handmade products do not interest all. This platform is especially for those few interested and selective people. The business model of the company is almost like eBay or Amazon.
But the difference here is Etsy provides amazing value to both its buyers as well as sellers. The business model of Etsy is a vertical one. It only focuses on handmade items. The company has got an android app, a website, and an iOS app to sell its products.
Etsy charges sellers to list items on its platform. The fee is meager for listing items. It is $0.20. The money paid is valid for four months. So, it’s a big point for the sellers.
Etsy charges a commission fee for every sale, 6.5% is the fixed commission fee. Sellers have got the option of setting their own desired sale price. But Etsy cuts a commission of 6.5% from the sale price as mentioned above.
Etsy – Funding and Investors
The company has raised a total amount of $97.3 million in funding over nine rounds. The latest funding round took place on May 15, 2017.
Date
Transaction Name
Money Raised
Lead Investor
May 15, 2017
Post-IPO Equity
–
–
May 22, 2014
Private Equity
$5.6 million
–
May 9, 2012
Series F
$40 million
Index Ventures
August 26, 2010
Series E
$20 million
Index Ventures
January 1, 2008
Series D
$27 million
Accel
July 1, 2007
Series C
$3.3 million
–
January 1, 2007
Series B
–
–
November 1, 2006
Series A
$1 million
Union Square Ventures
June 18, 2005
Angel Round
$400,000
–
Etsy has got 19 investors and TGP is the most recent investor.
Etsy – Growth
The company is trying its best to grow bigger. Etsy announced that they would start advertising on behalf of the sellers. It is also changing many designs to boost sales and show growth to its sellers. In the year 2015, Etsy hit the stock market. Investors were super excited at that time by seeing the potential of the platform. The company is willing to provide a fascinating look to an idealistic group of people. They are also trying hard to fulfill the demands of the public market.
Etsy – Competitors
The top competitors of the company areShopify, Big Cartel, Zibbet, and Handmade at Amazon.
Shopify is a Canadian multinational e-commerce company.
Big Cartel is a unique online store. It helps people run creative businesses.
Zibbet is a marketplace. It helps people to know more about artists, entrepreneurs, and creativity.
Handmade at Amazon helps people to shop for handcrafted home decor, jewelry, accessories, and many more gifts.
The company has got a long-term strategy. The goal was, is, and will be to bring unique and creative things to the market. They have plans to deliver sustained growth. The company believes that four elements will help them grow its business better – a collection of unique items, first-class discovery, human connections, and trusted brands. These four things are very essential for a company. This applies not only to Etsy but also applicable in other companies to enlarge their businesses. Chief Financial Officer commented in a meeting that he and his team believe that product improvements have taken place.
Conclusion
Etsy is an e-commerce platform that focuses on handmade, vintage, and unique items. It allows small business owners and independent creators to sell their products to a global customer base. It has become a popular destination for unique and handcrafted items.
FAQs
What is Etsy?
Etsy is a US-based online marketplace where anyone can sell handmade products.
Is Etsy Available in India?
Yes, Etsy is available in India.
Is Etsy owned by Amazon?
No, Etsy is an independent company.
Who founded Etsy?
Robert Kalin, Chris Maguire, Haim Schoppik, and Jared Tarbell founded Etsy on June 18, 2005.
How much does it cost to use Etsy to sell?
Etsy will charge you $0.20 for listing each item and a 6.5% transaction fee for every sale.
There are over a billion successful startups in the world, every startup strives hard to be successful and reach the top, but only a few make it to the list of most valuable startups in the world.
Being the most valuable startup is a perk in itself because the funds they possess happen to be much more compared to their rivals and other companies giving them an extra edge to grow.
Here’s a list of the Top 15 Highest Valued Startups in the world:
Kohlberg Kravis Roberts, SoftBank Group, Sequoia Capital, General Atlantic, and Hillhouse Capital Group.
Products and services
Toutiao, TikTok, BuzzVideo, Vigo Video, Helo, Xigua Video
Lark, Babe
Valuation
$300 Bn (2022)
Bytedance Founder | Zhang Yiming
Bytedance is the most valued startup in the world with a current valuation of $300 billion.
ByteDance Ltd. is a Chinese multinational internet technology company headquartered in Beijing, ByteDance was founded by Zhang Yiming in 2012. ByteDance operates a range of content platforms that inform, educate, entertain, and encourage people across languages, cultures, religions, etc.
ByteDance is the parent company of famous video-sharing social networking services TikTok and Vigo Video and many more, where the infamous app Tiktok crossed 2.6 billion downloads globally on the App Store and Google Play. As of now, it has over 1 billion monthly active users worldwide.
Bytedance is also the parent company of Toutiao which is a news aggregator app that uses AI algorithms to track the habits of the reader and deliver relevant content.
Kuaishou is a short video social platform that is not much popular in western countries. It is a short video-sharing platform that has over 363.4 million daily active users and 626 million monthly active users in 2022. It is listed on most downloaded apps on google play and apps store outside of china, Kuaishou is often referred to as Kwai in overseas markets.
Kuaishou was founded by Su Hua and Cheng Yixiao in march 2011. The direct competitor of Kuaishou is the infamous app Tiktok.
Warburg, Carlyle Group Inc, General Atlantic, Silver Lake Partners LP
Products and services
Online payments platform services, money market fund, Zhima credit, and more
Valuation
$70 Bn – $151 Bn (2022)
Ant Group Founder | Jack Ma
Ant Group is an affiliate company of Chinese e-commerce giant, Alibaba. Previously known as Ant Financial and Alipay, Ant Group is the owner of the largest digital payments platform, Alipay, in China. The latter boasts of serving around 80 million merchants and approximately 1.3 billion users worldwide.
The company is currently valued between $70 billion and $151 billion.
Greylock Partners, SV Angel, Sequoia Capital, Keith Rabois, Ashton Kutcher, Elad Gil, Jeremy Stoppelman, Y Ventures
Products and services
Lodging and Hospitality
Valuation
$57.54 Bn (2022)
Airbnb Founders | Brian Chesky, Joe Gebbia, and Nathan Blecharczyk
Airbnb is nothing but an accommodation marketplace that provides access to over 6 million unique places to stay comfortably and at their leisure in 220+ countries and regions. The company does not own any of the real estate listings, it just acts as a broker and earns a commission from each booking.
Airbnb was founded by Brian CheskyJoe, Gebbia Nathan, and Blecharczyk in August 2008. Airbnb’s valuation dropped to $57.54 billion in 2022 from $130 billion (2021).
Stripe Founders | Patrick Collison and John Collison
Stripe is an online payment processing platform for internet businesses. Stripe provides an API to web developers so that they can integrate payment processing on their websites and mobile applications. Stripe was founded by Patrick Collison and John Collison in 2009 in San Francisco, California, and the United States.
Stripe allows other companies to receive payments over the internet with the help of its platform. Square, Adyen, PayPal, WePay, etc are the competitors of Stripe. As of 2022, 8,000 employees are working for the company.
Google, Fidelity, Draper Fisher Jurvetson, Founders Fund, Valor Equity Partners, and Capricorn.
Products and services
Launch vehicles, rocket engines, Dragon capsules Starship (in development), Starlink, ASDS landing platforms, Orbital rocket launch
Valuation
$127 Bn (2022)
SpaceX Founder | Elon Musk
It’s no surprise that SpaceX made it to the list of the top 10 most valuable startups in the world. SpaceX is a private American aerospace manufacturer and space transportation services company that manufactures rocket engines and thrusters. SpaceX has developed several launch vehicles and spacecraft.
SpaceX was founded by Elon musk who also owns Tesla and PayPal, he founded SpaceX on 6 May 2002 which is now headquartered in Hawthorne, California, United States. SpaceX became the first private space company to launch humans into space. The main aim of SpaceX is to reduce space transportation costs and colonize Mars.
Taxi, Express, Premier, Luxe, Bus, Designated Driving, Enterprise Solutions, Bike Sharing, E-bike Sharing, Automobile Solutions, and Food delivery
Valuation
$17.91 Bn (2022)
Didi Chuxing Founder | Cheng Wei
Didi Chuxing is a world-leading mobile transportation platform. DiDi provides automobile services, including sales, leasing, financing, maintenance, fleet operation, electric vehicle charging, and co-development of vehicles with automakers. Didi uses artificial intelligence technologies and machine learning to optimize the dispatch system and route planning services of the platform.
Didi is similar to the transportation service Uber, but it offers cheaper rides than Uber, DiDi platform provides over 10 billion passenger trips a year. The subsidiaries of Didi include 99, Uber (China) Ltd, DIDI Bus, Xiaoju, Automobile Solutions Co., AssureSec, Qingju Bike, Shanghai Dahuangfeng, Network Information Technology Co. Ltd, Shanghai Shiyuan Technology Co., Ltd.
Klarna, Sweden
Startup Name
Klarna
Headquarter
Stockholm, Sweden
Industry
Online payments, fintech, financial services
Founders
Sebastian Siemiatkowski, Niklas Adalberth, and Victor Jacobsson
Founded
2005
Investors
Sequoia Capital, Silver Lake, Bestseller Group, Dragoneer, Permira, Visa, Ant Group
Klarna Founders | Sebastian Siemiatkowski, Niklas Adalberth, and Victor Jacobsson
Klarna is a Stockholm, Sweden-based fintech company that offers online payment services to empower digital payments like payments for online storefronts and other direct payments, including post-purchase payments.
In 2021, it raised funds valued at $639 Mn led by Softbank Vision Fund II and some other investors, which had shot its valuation to $46 Bn. But Klarna’s valuation dropped to $6.7 Bn from $45.6 Bn in July 2022.
Andreessen Horowitz, Greenspring Associates, Temasek Holdings, Tencent Holdings, Greylock Partners, Tiger Global Management, Index Ventures, Meritech Capital Partners, and Kleiner Perkins
Products and services
Games and Roblox
Valuation
$15.18 Bn (2022)
Roblox Corporation Founders | David Baszucki, and Erik Cassel
Roblox Corporation is a video game developer from America with headquarters in San Mateo, California. Roblox Corporation is best known for developing Roblox, an online gaming platform and game creation system, in 2006.
Roblox’s valuation dropped to $15.18 billion in 2022 from $41.9 billion (2021).
Grab is a multinational ride-hailing company based in Singapore. It operates in South Asian countries and it is dubbed as its region’sfirst Decacorn (a startup with a valuation of over $10 billion). It provides services like transportation, on-demand delivery, and financial services on a single mobile platform.
Canva online and app for graphic designing, Canva Pro, Canva for Enterprise
Valuation
$26 Bn (2022)
Canva Founders | Melanie Perkins, Cliff Obrecht, and Cameron Adams
Canva is a graphics design platform founded by Melanie Perkins, Cliff Obrecht, and Cameron Adams in Perth and headquartered in Sydney, Australia. The users can use this platform to design their website banners, presentations, social media, documents, or any other visual content online or through the Canva app. Canva also provides a wide range of templates for free. Furthermore, the app also offers paid subscriptions like Canva Pro and Canva for Enterprise containing a broad spectrum of additional content and other functionalities.
Instacart Founders | Apoorva Mehta, Max Mullen, and Brandon Leonardo
Instacart is a popular grocery delivery and pick-up service renowned for its services in the USA and Canada. With the wide range of grocery retailers that Instacart collaborates with customers need not wait for too long to order their groceries online and shop smoothly and conveniently with the help of a personal shopper.
Ali Ghodsi, Andy Konwinski, Ion Stoica, Matei Zaharia, Patrick Wendell, Reynold Xin, and Scott Shenker
Founded
2013
Investors
Microsoft, Andreessen Horowitz, Alkeon Capital Management
Products and services
Helps in pulling data from Azure Blob Storage, AWS S3, Azure SQL Data Warehouse, Azure Data Lake Store, and numerous other NoSQL data stores
Valuation
$38 Bn (2022)
Databricks Founders | Ali Ghodsi, Andy Konwinski, Ion Stoica, Matei Zaharia, Patrick Wendell, Reynold Xin, and Scott Shenker
Created by Apache Spark, Databricks is an enterprise software company that acts as a web-based platform that works with Spark, thereby offering automated cluster management services and IPython-style notebooks. Some of the open-source projects that the company has created include Delta Lake, MLflow, and Koalas, mostly spanning data engineering, data science, and machine learning.
AI Center Action Center Apps, Assistant Automation Hub, Automation Platform, Document Understanding Insights, Orchestrator Process Mining, StudioX Test Suite
Valuation
$6.89 Bn (2022)
UiPath Founders | Daniel Dines, and Marius Tîrcă
The Romanian company UiPath is a global software company headquartered in New York City, USA. UiPath uses Robotic process automation (RPA) and monitors user activities, to help automate repetitive tasks in both the front and the back ends of companies. UiPath’s automation is including but is not limited to customer relationship management.
Banking services including GBP and EUR bank accounts, debit cards, fee-free currency exchange, stock trading, cryptocurrency exchange, and peer-to-peer payments
Valuation
$33+ Bn (2022)
Revolut Founders | Nikolay Storonsky, and Vlad Yatsenko
Headquartered in London, England, Revolut is a financial technology company that offers banking services. Revolut offers a wide range of services including accounts featuring currency exchange, debit cards, virtual cards, Apple Pay, interest-bearing “vaults”, commission-free stock trading, crypto, commodities, and more. Founded in 2015 Revolut has shown incredible growth throughout the years and expanded to various markets across countries including Japan. Furthermore, it has also been successful in amassing around 3500 employees, who work for the organization.
With $5.10 billion, as estimated in November 2020, Revolut emerged as the UK’s most valuable fintech. The company is presently valued at $33+ billion, which makes it Europe’s most-valued startup, surpassing Checkout.com.
Conclusion
This is the list of the Top 15 Highest Valued Startups in the world. Hope you have enjoyed reading it. Feel free to let us know what you think about our content and also mention any more content ideas that you think might be helpful for readers, budding startups, entrepreneurs, and other individuals!
FAQs
Which is the most valued startup in the world?
With over $300 billion valuation, ByteDance – the parent company of TikTok, is the most valued startup in the world.
Which types of startups are most profitable?
Some of the most profitable startups are:
E-commerce
Business Consulting
Tech Support and Consulting
Real Estate
Online courses
Website, Logo, and Graphic Design Services
What types of startups are in demand?
Some of the startups in demand are:
Vehicle Renting Services
Trucking & Delivery Services
Food Delivery Services
Grocery Delivery Services
Vacation Rental Services
Learning Apps
Do 90% of startups fail?
Yes, 90% of startups fail. Only a few startups are successful by overcoming the obstacles and challenges on their way.
The content in this post has been approved by Alibaba.
Trust issues are common. People often face challenges with e-commerce companies. But the question is, are the suppliers verified? People usually worry about prices too. But with Alibaba, this is not an issue. Everything available here is at factory prices and all the sellers are verified.
Alibaba Group is a Chinese multinational conglomerate holding company specializing in e-commerce, retail, Internet, and technology. Founded in 1999 by Jack Ma, the company operates in various business segments, including wholesale and retail online marketplaces, such as Taobao and Tmall, as well as online and mobile payment systems, shopping search engines, and cloud computing services.
It is also involved in the production of electronic components, as well as in the research and development of artificial intelligence and other technology. Alibaba is considered one of the largest e-commerce companies in the world and is often compared to Amazon. It is also one of the world’s largest venture capital firms and investment corporations. Here is the Alibaba success story.
Company Highlights
Company Name
Alibaba
Headquarters
Hangzhou, China
Founders
Jack Ma, Joseph C. Tsai, Cathy Zhang, Trudy Dai, Peng Lei, Simon Xie, Jin Yuanying, Jianhang Jin, Jane Jiang, Eddie Wu, Ma Changwei, Tony Yiu, Zhou Yuehong, Shi Yufeng, James Sheng, Lou Wensheng, Han Min and Toto Sun
Jack Ma, Joseph C. Tsai, Cathy Zhang, Trudy Dai, Peng Lei, Simon Xie, Jin Yuanying, Jianhang Jin, Jane Jiang, Ma Changwei, Eddie Wu, Toto Sun, Shi Yufeng, Zhou Yuehong, Lou Wensheng, Han Min and Tony Yiu are the founders of the company Alibaba.
Jack Ma is the founder and also the former executive chairman of Alibaba group. He is a Chinese business magnate, philanthropist, and investor.
Joseph C. Tsai is also the founder of the Alibaba group. He is a Taiwanese-born Canadian billionaire businessman and philanthropist.
Cathy Zhang is the founder of the company. She is Jack Ma’s wife and is a former Chinese teacher.
Trudy Dai is a member of the founding team. She did join the company from the beginning itself. Since January 2017 she has been the president of wholesale marketplaces.
Peng Lei is one of the founders of the company. She is also known as Lucy Peng. She is a Chinese billionaire businesswoman.
Simon Xie is also a founder of Alibaba group. Before joining Alibaba group he completed his engineering degree from Shenyang University.
Jin Yuanying is another founder of Alibaba Group and Taobao. She has been responsible for both the companies mentioned above.
Jianhang Jin joined the Alibaba group in the beginning as a founding member. He has been the President of the company since August 2014.
Jane Jiang is a founding member of the company. Currently, Jane Jiang is the Deputy CPO of the company.
Eddie Wu is one of the founders of the company. Eddie Wu is the Senior Vice President. Eddie Wu handles three business units of the company.
Ma Changwei is also a founder of the company. Ma Changwei is an investor and director at Taobao Product Technology Center.
Tony Yiu is one of the founders of the company. In the International Business Unit, he was responsible for IDC operation and maintenance.
Zhou Yuehong is also a founder of the company. He studied at Hangzhou Dianzi University.
Shi Yufeng is the co-founder of Taobao. He is one of the original founders of the Alibaba group.
James Sheng is the founder of the company. James Sheng is the senior vice president of the company.
Lou Wensheng is again one of the original founders of the company. In the beginning, he was responsible for the planning of the official website.
Han Min is also a founder of the company. He is a former South Korean Minister of Defense.
Toto Sun is also an original member of the company.
Jack Ma – Founder of Alibaba
Alibaba – Startup Story
Jack Ma started the Alibaba group with other 17 original founders. Back in 1999, he started a wholesale online marketplace called Alibaba. The Chinese company blossomed into one of the most valuable corporations in the world. Now the world knows Alibaba. When Alibaba started, in India there was nothing in this sector. The dawn of the 21st century appeared to be lucky for Alibaba. It was growing as well as investing. It benefited from strict internet-controlling policies. The story seems like Alibaba grew into a global e-commerce giant from a small apartment.
The company acts as a middleman between buyers and sellers online. It facilitates the sale of goods. The majority of sellers are small merchants. Alibaba caters to almost all well-known big brands. Customer experience is a big issue for the company. Sellers cannot deliver goods that are sold. The company charges the merchant’s a fee to have their listings higher on the search rankings. The company has dominated the shopping space in China but doesn’t have a physical store anywhere.
Alibaba – Revenue Model
Alibaba’s revenue is derived from retail e-commerce and associated market services in China. The company collected a revenue of $134.567 billion in 2022, a 22.91% increase from 2021. It charges commissions as a percentage of the transaction value of goods sold. China Wholesale and Other Revenues are expected to be about 12% of the total revenues. Chinese consumption drives wholesale commerce and logistics service revenues.
Alibaba – Tagline, Slogan, and Logo
The tagline of the first Alibaba job advertisement was If not me, who? It’s not a question but a call of duty. The proverb shows a sense of ownership here.
The Alibaba logo has got two typefaces. It’s the face of a satisfied customer. The person inside is smiling.
Alibaba Logo
Alibaba – Funding and Investors
The company had raised an amount of $8.9 billion over 16 funding rounds.
Date
Transaction Name
Money Raised
Lead Investors
June 2, 2016
Post-IPO Equity
$1 Bn
–
March 10, 2016
Post-IPO Debt
$3 Bn
–
August 1, 2014
Venture Round
–
–
April 1, 2014
Secondary Market
$100 Mn
–
October 9, 2013
Secondary Market
–
–
October 1, 2013
Secondary Market
–
–
March 4, 2013
Secondary Market
–
–
September 1, 2012
Private Equity Round
$2 Bn
China Investment Corporation
September 22, 2011
Private Equity Round
$1.6 Bn
DST Global, Silver Lake
September 13, 2011
Secondary Market
–
–
Alibaba is funded by 32 investors. GIC and Temasek Holdings are the recent investors.
Alibaba – Growth
The company has positioned itself as the gateway to Chinese consumers. The company continues to grow. It had over 903 million users in Q1 2022 and the number is growing.
Alibaba’s Annual Active Consumers in China from 2017 to 2022
Alibaba – Competitors
The main competitors of the company are Amazon, Tencent, Huawei, and China Mobile.
Amazon is a technology company. It focuses on e-commerce, cloud computing, digital streaming, and artificial intelligence.
Tencent is also a Chinese multinational company. It specializes in Internet-related services and products, artificial intelligence, and technology.
Huawei is a leading platform that provides information and communications technology.
China Mobile is a company that provides mobile voice and multimedia services. Through its nationwide mobile telecommunications network across mainland China and Hong Kong.
The company is aiming towards reaching 2 billion global consumers by fiscal 2036. The company is also looking forward to creating more than 100 million jobs. And also support small and medium businesses.
FAQs
What is Alibaba?
Alibaba Group is a Chinese multinational conglomerate holding company specializing in e-commerce, retail, Internet, and technology.
Is Alibaba bigger than Amazon?
Alibaba ranks second with a market cap of over $304.1 billion, whereas Amazon ($1 trillion market cap) ranks first among the leading large-cap e-commerce companies worldwide.
When was Alibaba founded?
Alibaba was founded in 1999 by 18 people.
What is the Indian version of Alibaba?
TradeIndia is an Indian version of Alibaba.
Is Alibaba banned in India?
Yes, the Alibaba marketplace has been banned in India with the ban of Chinese apps in the country.
Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved byFord.
Ford Motor Company (often referred to as Ford) is an American multinational automotive manufacturer based in Dearborn, Michigan. Henry Ford created the company, which was formed on June 16, 1903. The Ford brand offers autos and commercial vehicles, whereas the Lincoln premium brand sells luxury cars.
Based on 2015 car production, Ford is the second-largest U.S. automaker, GM being the first. As per 2017 data by OICA, Ford is the fifth-largest automaker in the world, led by Toyota, Volkswagen, Hyundai, and GM. As published by carlogs.org, Ford Motor is the World’s fourth-largest car company on the basis based on 2020 revenue. Ford’s Revenue is projected to reach $140.80 billion in 2023. With an annual growth rate (CAGR 2023-2027) of 1.86%, the projected market volume is $151.60 billion by 2027.
The firm became public in 1956, although the Ford family retains 40% voting rights through special Class B shares.
Ford Motor Company is an American automaker that designs, manufactures, distributes, and serves a wide range of Ford trucks, SUVs, automobiles, and Lincoln luxury vehicles.
Automotive, Mobility and Ford Credit are the company’s three segments.
The Automotive division is responsible for designing, producing, distributing, and maintaining Ford and Lincoln cars, as well as their components and accessories. Ford Mobility is a wing dedicated to innovation in the automobile sector. Ford Mobility is working in the field of designing emerging mobility services and also invests in new innovative ventures in the automobile sector. Ford mobility is also working to develop autonomous vehicles. While Ford Credit division provides automobile financing and leasing services.
Ford also holds ownership in Argo AI, a developer of autonomous driving systems, and Spin, a micro-mobility service provider.
Ford – Industry
Before the coronavirus crisis threw the globe into chaos, the automobile sector had been on an upward trend throughout 2018 and had just begun a period of stagnation in 2019. Between March and May 2020, global car sales fell by almost 15% worldwide. China was the first market to recover from the crisis, with car sales remaining at pre-pandemic levels for months after the outbreak. Electric vehicles, autonomous driving, and mobility services are expected to continue to fuel the industry, resulting in an overall rebound in the coming quarters.
Ford Motor Company – Founder
In 1903, Henry Ford established the Ford Motor Company.
Founder of Ford – Henry Ford
Henry Ford
Henry Ford was born on July 30, 1863, in Springwells Township, Wayne County, Michigan to Mary and William Ford. While Henry was just 12, he had his own small self-built machine shop where he spent much of his time experimenting with machines. He was just 15 when he built his first steam engine.
Henry started his career as a machinist’s apprentice in the shops of James F. Flower and Brothers in Detroit(a city in the US). In July 1891, Henry joined as an engineer at the Edison Illuminating Company of Detroit and became the chief engineer of the company in 1893. During his stint at the Edison Illuminating Company, Henry ford also developed a deep friendship with Thomas Edison.
Henry Ford’s automobile manufacturing journey began in the winter of 1893 when he built a modest one-cylinder gasoline model inspired by his interest in internal combustion engines. On a wooden table in the kitchen of the Ford house at 58 Bagley Avenue in Detroit, the first Ford engine flickered to life. His first vehicle, which was a frame-mounted with four bicycle wheels, was powered by a later version of that engine. The Quadricycle, Ford’s first automobile, was built in June 1896.
Henry Ford resigned from Edison Illuminating Company in August 1899, to start his venture. In 1899, he created the Detroit Automobile Company, which became bankrupt just within 18 months of its inception.
Leaving the firm paved the door to his achievement. “Failure is merely the opportunity to begin again, this time more intelligently,” remarked Henry Ford. With this guiding concept in mind, he tried again and established what is today known as the Ford Motor Company in 1903. He also revolutionized the automobile business by introducing the then-unheard-of ‘assembly line’ for his vehicle manufacture. Ford grew to be one of the world’s most successful and lucrative businesses that even managed to survive the Great Depression of 1930.
Ford is also the world’s largest family-controlled company, which has been controlled by the Ford family for over 110 years. Volvo, Land Rover, Jaguar, Aston Martin, and Mercury were previously part of Ford’s premium portfolio. These brands were sold to other firms over time, and Mercury was eventually phased out.
Ford – Mission and Vision
Ford’s mission statement says, “to make people’s lives better by making mobility accessible and affordable.”
This mission statement emphasizes the movement of people, which is a fundamental function of vehicles and the transportation industry. The fact that Ford places such a high value on mobility reveals the company’s social mission. The firm strives to make people’s transportation more efficient as one of the largest participants in the international market.
Ford – Slogan, Tagline, and Logo
Ford’s Company Logo
Ford’s first slogan that was used by the company in 1914 was “Ford: The Universal Car.” Over the years Ford has tried to appeal to its customers across the world through various slogans. Some popular slogans by the company are –
Go Further
All-New Focus Drive One.
Everything We Do is Driven By You
Built Ford tough!
Ford has a better idea
Better Ideas. Driven by you
Built for the road ahead.
Have you driven a Ford lately
Quality is Job one
There’s a Ford in your Future.
If you haven’t looked at Ford lately, look again.
Build for life in Canada
Ford. Designed for living. Engineered to last.
The Best Never Rest.
Answer the call to any adventure.
‘Built Ford Proud’ is Ford’s latest slogan.
Ford – Business Model and Revenue Model
Ford’s operations are divided into three categories: “Automotive,” which is by far the largest, “Ford Credit,” and “Mobility.”
The majority of Ford’s revenue comes from producing and selling automobiles to consumers. Electric vehicles and self-driving automobiles are two areas where the firm wants to increase its capabilities. Ford also makes money through its leasing and financial divisions, which provide automobile loans and lease agreements to customers.
Ford Credit is a Ford service that supplies dealerships and consumers with a variety of automobile finance options. These solutions enable dealerships to buy new inventory and expand existing capabilities, as well as provide clients with finance for car purchases and leases without having to leave Ford’s business environment. In the United States, Canada, and Europe, Ford Credit is offered.
Ford’s Mobility business is primarily the company’s research and development division for self-driving cars and the software that goes with them. This segment generates no revenue because the company has yet to sell any of these cars.
Don Bunker, Pmp, Csm – Project Management Consultant
Aakash Puntambekar – Product Development Engineer
Aarik Kimberlin – Process Coach
Aaron Anderson – Parts Specialist
Aaron Bresky – Product Development
Aaron Brunke – Product Engineering Designer
Aaron Estelle – STA Engineer
Ford – Sponsorships
Ford Center in downtown Evansville, Indiana, and Ford Field in downtown Detroit are two major sports facilities sponsored by Ford In the USA.
Ford also sponsors many events across the globe. Ford is a major sponsor of Sky media channel’s coverage of Premier League football. Ford also sponsored the UEFA Champions League for 20 years, before ending the sponsorship in 2014.
In recent times, automobile demand in important countries such as North America and Europe, as well as China, has fallen short of expectations. These excesses have boosted prices for automakers that have ramped up their capabilities to match projected future growth, as Ford explains in its annual report. In China, for example, surplus capacity in the car sector reached 78% in 2018. According to Ford, surplus capacity will average 47 million vehicles until 2024.
The rush by automakers to tap into the enormous Chinese market has heightened competitiveness in the sector. This, along with declining demand and the growth of Chinese automakers like Chery Automobile Co. and BYD Auto Co., has put pressure on firms like Ford to maintain high prices.
The development of startups like BYD and Tesla (TSLA) has fueled demand for hybrids and electric vehicles, increasing competition and putting pressure on traditional automakers to make their vehicles more efficient and technologically advanced.
Ford – Investments
Date
Organization Name
Round
Amount
May 2, 2022
Cavnue
Series A
$130M
Sept 22, 2021
Redwood Materials
Private Equity Round
$50M
Jul 23, 2021
Rivian
Private Equity Round
$2.5B
May 3, 2021
Solid Power
Series B
$130M
Oct 13, 2020
Solid Power
Series A
$28M
Jun 19, 2020
Motorq
Series A
$7.3M
Apr 2, 2020
Phantom AI
Series A
$22M
Dec 23, 2019
Rivian
Private Equity Round
$1.3B
Oct 29, 2019
Cellink
Series B
$22.5M
Apr 24, 2019
Rivian
Corporate Round
$500M
Nov 7, 2018
SAIPS
Corporate Round
$12.5M
Mar 19, 2018
Desktop Metal
Series D
$65M
Ford – Growth
Year
Amount
Percentage Increase/Decrease from last year
2022
$151.736B
+12.72%
2021
$136.433B
+4.63%
2020
$127.144B
-18.45%
2019
$155.9B
-2.77%
2018
$160.338B
+2.27%
Ford – Competitors
General Motors Company (GM), Honda Motor Company (HMC), Toyota Motor (TM), Daimler (DDAIF), Tesla Motors (TSLA), Navistar International (NAV), and Spartan Motors (SPAR) are Ford’s main competitors.
In 2022, Ford Motor Company received two awards, and 6 awards in 2021. Ford Motor Company took home the awards for Best Engineering Team 2022 and Best Global Culture 2022.
Other recent awards are as follows:
Best Company for Diversity 2021
Best CEO 2021
Best Company Culture 2021
Best Company Happiness 2021
Best Leadership Teams 2021
Best CEOs for Diversity 2021
Car of the Year 2019 – Finland
Car of the Year 2019 – Croatia
Belgian Family Car of the Year (two price categories) – Belgium
Irish Car of the Year awards: Small/Compact Car of the Year – Ireland
Autobild Golden Wheels Award: Best Compact car – Bulgaria
BusinessCar Awards: Best Lower-Medium Car – U.K.
Parkers New Car Awards 2019: Best Small Family Car – U.K.
2018 Scottish Car of the Year Awards: Best Family Car – Scotland
Auto Zeitung Auto Trophy 2018: Compact category winner – Germany
Great Austrian Automobile Prize: Start category winner – Austria
In the face of an auto sector destabilized by increased rivalry, uncertainty, and technological innovation, Ford has launched a “global redesign” to become more nimble and less bureaucratic. According to Ford CEO Jim Hackett, this revamps promises to save $14 billion in expenses by 2024.
Cutbacks Ford eliminated about 3,000 of its paid workforce in the U.S., Canada, and India. The company was looking to lay off as many as 8,000 positions in a move to shift its focus to electric vehicles. Ford promotes the layoffs as part of its new, creative approach, but others view them as a last-ditch cost-cutting move.
Ford stated in January 2021 that it would devote 90% of its worldwide capital allocation through 2023 to a shift to trucks, SUVs, and commercial vehicles. This means that Ford will phase out sedans and other compact automobiles during the next four years.
Self-driving cars Ford is expanding its investment in self-driving cars, as shown by its Mobility business unit. This is undoubtedly a forward-thinking move on Ford’s side, but breakthrough autonomous cars are unlikely to arrive fast enough to provide the benefit Ford requires. Ford is developing its first fully self-driving car, with a cost of $2.7 billion.
Electric and Hybrid Vehicles Ford announced intentions to invest $11 billion in electric vehicles in January 2018, much above its prior aim of $4.5 billion. By 2022, the firm hoped to have 40 electric cars on the road thanks to this investment. The rest would be plug-in hybrids, with 16 being entirely electric.
Ford has established itself as the second electric vehicle company in the US after Tesla. Since the Mustang Mach-E model debuted in late 2020, Ford has produced 150,000 of them. It intends to build 600,000 by 2023 and over 2 million EVs annually by 2026.
Conclusion
Ford is a well-established American automotive company known for producing a wide range of vehicles, including cars, trucks, and SUVs. With a history of innovation and a commitment to quality and durability, Ford has built a loyal customer base and remains a major player in the global automotive industry.
FAQs
What does Ford do?
Ford Motor Company is an American automaker that designs, manufactures, distributes, and serves a wide range of Ford trucks, SUVs, automobiles, and Lincoln luxury vehicles.
When was Ford founded?
In 1903 Henry Ford, an American automobile manufacturer established the Ford Motor Company.
Who founded Ford?
Henry Ford established the Ford Motor Company in 1903.
Which companies does Ford compete with?
General Motors Company (GM), Honda Motor Company (HMC), Toyota Motor (TM), Daimler (DDAIF), Tesla Motors (TSLA), Navistar International (NAV), and Spartan Motors (SPAR) are Ford’s main competitors.
Ford company belongs to which country?
Ford is an American based in Dearborn, Michigan, U.S.
A company that was founded nine years ago, in 2014, and named in the honor of Nikola Tesla, Nikola Corporation, was, ostensibly, in the business of manufacturing heavy-duty commercial battery electric vehicles, fuel cell energy vehicles, and energy solutions.
After presenting several vehicle concepts between the years 2016 and 2020, leading with a natural gas-fuelled turbine-electric semi-truck, it went public on 4th June 2020. Nikola Corporation also went ahead and delivered its first two battery-electric trucks in December 2021, known as Nikola Tre. However, by September 2021, the Securities and Exchange Commission and the Department of Justice had already launched an investigation into allegations of security fraud by its founder and former CEO Trevor Milton. It was at this time, that the unraveling began.
Trevor Milton founded Nikola Corporation in Salt Lake City, Utah in the year 2014 and announced that 5000 Nikola One hydrogen-powered glider trucks would be built by 2016. They were to be built by Fitzgerald Glider Kits in Tennessee. By the year 2019, Nikola had acquired 389 acres of land in Coolidge, Arizona for a total of USD 23 million. The company announced that the factory construction work was slotted to begin by 2020, truck construction a year later, in 2021, and by 2023, Nikola would be fabricating 35000 to 50000 trucks per year.
By March 2020, Nikola Corporation and VectoIQ Acquisition Corporation, announced a merger that resulted in the combined company, NKLA, being listed on the NASDAQ exchange. The Nikola stock began trading on 4th June 2020, a day after the merger was officially completed. Within the space of one week, Nikola shares doubled as the investor’s interest heightened leading to a continuation of betting on the growing potential of electric transport. This was followed by the company beginning to take order reservations for the truck, even though customers had as yet not even seen a prototype.
The growth continued and by August 2020, Nikola Corporation reached a valuation of USD 13 billion. On September 8, 2020, Nikola Corporation entered into another strategic partnership with GM (General Motors). The partnership stated that GM would acquire an 11% stake in Nikola and also nominate one member to Nikola’s board. Consequently, GM would also begin the production of Badger and supply fuel cells and batteries to Nikola, globally. Unsurprisingly, this resulted in Nikola’s stock increased by 50% as the announcement was received with enthusiasm.
Unraveling The Fraud
It all began with the short-seller firm, Hindenburg Research releasing a report on 10th September 2020 that outright accused the company’s founder Trevor Milton of perpetrating ‘an intricate fraud’. Trouble mounted when this report was confirmed by Financial Times and Research Enquirer that showed a Nikola One rolling down a slope using the natural force of gravity instead of onboard propulsion. In response to these claims, Nikola stock fell by 10% and the GM stock took a hit of 4%. Within a couple of days, by September 12th, Nikola stock witnessed a sharp drop of 36%.
As outraged as Nikola was with these claims and threatening legal action against Hindenburg, its troubles were far from over. These claims had interested the US Attorney’s Office for the Southern District of New York. September 14th saw reports stating that the Securities and Exchange Commission had begun investigating allegations of fraud against Nikola Corporation, followed by the Department of Justice beginning its investigations a day later.
Within a week, by September 21, Trevor Milton resigned from his designations as Executive Chairman and Founder while the share price of Nikola continued to drop surrounded by news of the allegations. This was quickly followed by unraveling partnerships and further share price fall.
Nikola Motors Fraud
BP (British Petroleum Company PLC) canceled a potential partnership that would have developed hydrogen refueling stations for Nikola’s EV trucks. November 2020 saw GM backing away from the proposed deal to buy an equity stake in Nikola Corporation as well as canceling the production of the Badger electric pick-up truck. A month later, another announced partnership with Republic Services was terminated. This partnership was in formation to jointly develop zero-emissions garbage trucks.
How Nikola Surged Ahead
By February 2021, Nikola rallied a little and publicly canceled Powersports unit and its plans to produce them. However, they stated that by the fourth quarter of the year, their intention was to produce between 50 and 100 Nikola Tre Vehicles. In June of the same year, Nikola Corporation invested USD 50 million in a new hydrogen factory to produce fuel for semi-truck fuel stations. The effort was to be spearheaded by Wabash Valley Resources. A month later, by July there was an announcement to add five new class 8 truck dealers in Arizona, Texas, Colorado, California, New Mexico, Delaware, Florida, Maryland, and Virginia.
Who Is Trevor Milton
Trevor Milton – Founder Nikola Motors
Trevor Milton was born in Utah and is one of five siblings. He pursued a career in sales and marketing after opting to drop out of Utah Valley University. Milton’s career included various businesses that began with his first venture, an alarm sales company called St. George Security and Alarm. He exited the business for USD 300,000. He immediately launched an online classified advertisement website that sold used cars. However, the company failed and eventually closed. He launched dHybrid Inc., which was in the business of retrofitting commercial trucks with engines that could run on natural gas. It ran into trouble with an investor that resulted in the company closing down. He then launched dHybrid Systems which, according to his claim, was purchased by Worthington Industries. It was after this, that Milton founded Nikola.
Following the allegations and investigations into him, Milton surrendered himself and pled not guilty to all charges leveled against him. However, in June 2022, Milton was charged with additional wire fraud, and by October 2022, was found guilty of one count of securities fraud and two counts of wire fraud.
Conclusion
In July 2021, when Trevor Milton was indicted, Nikola Corporation said – “We remain committed to our previously announced milestones and timelines are focused on delivering Nicola Tre-battery electric trucks later this year from the company’s manufacturing facilities.”
A little over a year later, by August 2022, Nikola announced the acquisition of the battery company, Romeo Power. The process was completed by October 2022. It remains to be seen how the company executes the upcoming opportunities.
FAQs
What is the Nikola Motors fraud scandal?
The Nikola Motors fraud scandal involves accusations that the electric truck maker, Nikola Corporation, misled investors and the public about its technological capabilities, and achievements. Nikola denied the allegations and launched its own investigation.
What was the role of founder Trevor Milton in the fraud scandal?
Founder Trevor Milton was accused of making false statements to investors in the Nikola Motors fraud scandal. He resigned after the allegations emerged.
What actions did Nikola Motors take to address the fraud allegations?
After the fraud allegations were made, the company denied the accusations and launched its own investigation into the matter. The company’s Board of Directors formed a special committee to oversee the investigation.
What is the impact of the fraud allegations on Nikola Motors’ stock prices?
The fraud allegations caused a significant drop in Nikola Motors’ stock price. While the stock price has since recovered somewhat, it remains below its peak levels from earlier in 2020.
The startup scene in Canada has been growing in recent years, with a number of successful companies emerging in a variety of industries. Canada has a strong economy and a well-educated workforce, which has helped to create a favorable environment for startups. In addition, the government has implemented various initiatives to support the growth of startups, including funding programs and tax credits.
The technology sector is particularly strong in Canada, with many startups focusing on areas such as artificial intelligence, cloud computing, and e-commerce. However, there are also a number of startups in other industries, such as healthcare, finance, and retail.
Overall, the startup ecosystem in Canada is thriving and there are many opportunities for entrepreneurs to launch and grow successful companies.
Every year around 95,000 new businesses are started in Canada, a few make a fortune. Let’s take a look at some of the Top successful Canadian Startups in 2023.
Loopio is one of Canada’s Fastest Growing Companies with three-year revenue growth of 268%. It has been ranked in Canada’s Top Growing Companies consecutively for four years by Globe and Mail’s Report on Business. It has twice secured its spot on the Deloitte Technology Fast 50™ list and LinkedIn’s Top Startups.
Loopio is a startup that helps companies answer RFPs, Security Questionnaires, and more. It helps the team to be very responsive, improves response quality, and helps them win more business.
2. Opencare
Co-founder
Cameron Howieson
Founded
2012
Headquarters
Toronto, ON, Canada
Industry
Health, Wellness & Fitness
Company size
11-50 employees
Total Funding Amount
$24.6 Mn
Co-founder of Opencare | Cameron Howieson
Open care’s vision is to connect users with top local dentists based on their own choices. It is a modern change that has a command over the traditional industry. Through connecting with specialized dentists in the area, Open care is highly focused on optimal health and is growing by leaps and bounds.
Opencare has built a selected network of top-rated dentists across North America. They are committed to delivering outstanding oral wellness.
3. Connected
Co-founder
Mike Stern
Founded
2014
Headquarters
Toronto, Ontario, Canada
Industry
Software Development
Company size
51-200 employees
Total Funding Amount
–
Co-founder of Connected | Mike Stern
Not particularly a design agency or consultant, Connected (now part of Thoughtworks) is a platform that helps brands build software products used in the research and development phase. The company has an access to a share option plan, where employees own shares in their company. It ranked one of LinkedIn’s top 25 startups, in Canada in 2019.
Company culture is widely built. Each Connected employee experiences an equal amount of respect and as a result, Connected is considered the best workplace. And the greatness includes a house for each employee if needed, along with progressive competitions amongst the groups periodically.
4. Ritual
Co-founder
Ray Reddy
Founded
2014
Headquarters
Toronto, Ontario, Canada
Industry
Consumer Services
Company size
201-500 employees
Total Funding Amount
$134.8 Mn
Co-founder of Ritual | Ray Reddy
Ritual is perhaps one of Canada’s best-known startup apps that helps users to get their pre-ordered foods from their favorite restaurants and coffee houses. With Ritual, there is no need to fight the crowds or stand in long queues.
Unlike India’s Zomato and Swiggy, this pre-ordering app is also known for its suitability and reliability. It also has the advantage of piggybacking on orders, where one of your mates can pick up more than one order on behalf of multiple people.
5. League
Founder
Michael Serbinis
Founded
2014
Headquarters
Toronto, Ontario, Canada
Industry
Hospitals and Health Care
Company size
501-1,000 employees
Total Funding Amount
$171.1 Mn
Founder of League | Michael Serbinis
League is a one-to-one platform for employees to engage with their lifestyle, health, and benefit programs. According to Linked in’s annual rankings, the rapidly growing hub is counted in Canada’s top startups-three years running.
Since its 7 years founding, League’s members have reached over 40 million and the company has raised $220 million to date. It grabbed The Next HealthTech Unicorn Award in 2021.
6. Maple
Co-founder
Brett Belchetz
Founded
2015
Headquarters
Toronto, Ontario, Canada
Industry
Hospitals and Health Care
Company size
51-200 employees
Total Funding Amount
$71.7 Mn
Co-founder of Maple | Brett Belchetz
With Maple, you can connect with Canadian licensed doctors for medical help 24/7. Online consultation isn’t new, but the Maple app takes things to a whole new level, providing immediate help from doctors and specialists.
On the contrary, with the launch of Maple, it has become way too easier to deal with immediate medical support from the healthcare professionals of your choice. Notably, a click of a button away. The two most recent investors are Loblaw Companies Limited and RBC Ventures, and the company raised $73 million in a sequence of funding.
7. integrate.ai
Founder
Steve Irvine
Founded
2017
Headquarters
Toronto, Ontario, Canada
Industry
Software Development
Company size
11-50 employees
Total Funding Amount
$49.6 Mn
Founder of Integrate.ai | Steve Irvine
Integrate.ai is one of the most talked about cross-industry in today’s technological world, which implies machine learning and innovative intelligence to target customer necessities before it is felt. However, a lot of people have already started implementing this technology app to improve their quality and outputs.
As customer data becomes increasingly on trend, integrate.ai became the world’s first AI-powered cross-industry intelligence network to master Design Certification. The Former Facebook and Instagram executive Steve Irvine is the founder and CEO of the company.
8. Borrowell
Founders
Eva Wong, Andrew Graham
Founded
2014
Headquarters
Toronto, Ontario, Canada
Industry
Financial Services
Company size
51-200 employees
Total Funding Amount
$92 Mn
Founders of Borrowell | Eva Wong, Andrew Graham
Borrowell is a financial technology company that offers Canadians free access to their credit score, including recommendations for financial tips and tools to improve credit scores. Listed as the World’s top financial technology company for its transparency, Borrowell will be a trailblazer for many such factual ideas.
Borrowell has been named one of the Best Workplaces in Canada every year since 2019. It has been recognized as Globe and Mail’s Top Growing Companies (2021), LinkedIn’s Top 15 Startups in Canada (2021), and CB Insights’ Top 250 Fintechs (2021). It is trusted by over 2 million Canadians.
9. Mejuri
Co-founder
Noura Sakkijha
Founded
2013
Headquarters
Toronto, Ontario, Canada
Industry
Retail Luxury Goods and Jewelry
Company size
201-500 employees
Total Funding Amount
$28 Mn
Co-founder of Mejuri | Noura Sakkijha
Mejuri is Canada’s most popular marketing-targeted company that deals directly with the consumer. Mejuri sells fine jewelry at comparatively-low prices and has expanded as a far-reaching jewelry house. The brand operates directly to consumers (online), to sell through brick-and-mortar storefronts. Re-launched in 2015, the company has female employees in maximum.
“I founded Mejuri because I saw a jewelry industry that was built for men gifting women and not women celebrating themselves. To me, the truest expression of Mejuri is mutual uplift: all of us supporting each other, and you, our community, feeling empowered to invest in yourself and, in turn, the community around you.” – Noura Sakkijha, CEO
10. Ada
Co-founder
Mike Murchison
Founded
2016
Headquarters
Toronto, Ontario, Canada
Industry
Software Development
Company size
201-500 employees
Total Funding Amount
$190.6 Mn
Co-founder of Ada | Mike Murchison
Ada is an artificial intelligence where businesses are allowed to speak directly with prospective customers through a chat box. As mountains of businesses pile up, customers feel discomfort, and thereby any businesses in particular need to be properly explained and analyzed, to be able to make better business decisions.
Ada’s growth has been augmented to date. To focus on issues of greater impact, Ada allows live agents too, providing a support role for any queries that customers have. It is recognized as one of the best leading customer service automation companies.
Conclusion
Canadian startups are growing abruptly, we see many new startups lining up in the space. Hence there is a sense of innovation to maintain a competitive edge, probably for the recognition of a leading sector and for the brand familiarity to reach across various platforms shortly.
FAQs
Is Canada good for a startup?
Yes, Canada is a financially safe place to do business as it has a stable economy, and there is support from both the national and local levels for the startup.
Which country is best for startups?
The United States is considered the best country for startups.
Which country has the most entrepreneurs?
The United States has the most number of entrepreneurs.
How many startups fail in Canada?
Business failure statistics show that about 96% of small businesses survive for one full year, 85% survive for three years and 70% survive for five years.
Kinnary Nensee
