Buying, selling, and renting property has always been a hectic task for people. So, to help people manage their property better, PropTech (property technology) has come to the rescue. PropTech uses information technology to address and transform the various needs of the real estate industry.
Prabhat Kumar Tiwary is someone who is making an outstanding contribution to the field of PropTech in India. He is the founder, CEO, and CMD of YourOwnROOM, a PropTech residential real estate rental and property management company, headquartered in Bengaluru. YourOwnROOM’s Asset Under Management is 1 million square feet valued at over Rs. 400 crores ($50 million) spread across 400 properties in Bengaluru and Pune.
In this article, learn more about Prabhat, his successful journey, career, challenges, and more.
Prabhat Kumar Tiwary – Biography
Name
Prabhat Kumar Tiwary
Founder of
YourOwnROOM
Startup Founded in
2016
Citizenship
Indian
Education
Stanford University, Birla Institute of Technology, Ranchi
How YourOwnROOM is Taking on India’s Co-Living Market?
Prabhat Kumar Tiwary – Education and Career
Prabhat is an alumnus of Stanford Business School with over 26 years of experience in technology enterprises and startups. He is the Founder, CEO, and CMD of YourOwnROOM, a prop-tech residential real estate rental & property management company with a vision to deliver higher economic returns to both individual & institutional property owners over the property lifecycle.
He has worked in senior leadership and management positions in building and managing IT Services P&L of up to $100 million at Xchanging, MphasiS, Zensar and Hewlett-Packard. He also holds a Bachelor’s Degree in Computer Engineering from Birla Institute of Technology, Ranchi.
Prabhat is immensely passionate about advising and helping technology-based startups build and grow. He brings rich experience, expertise, learnings and a network as a board member or board advisor to several emerging startups and likes to advise and work with them to scale them exponentially and profitably with solid fundamentals. He is known for advising companies like College Counselling Coach, Your Green Canvas, and Jomiso.
When asked if he got a chance to start his career again, what would he do differently? Prabhat said, “Well, I would have started my startup journey much earlier, which would have increased my risk appetite.”
Prabhat Kumar Tiwary – Professional Life
Over the last 6 years, Prabhat has been the CEO of YourOwnROOM. They have a very lean management structure at YourOwnROOM and, therefore, he also oversees growth and investments. He supports his operations and commercials teams and also his technology team by providing guidance and oversight. They have a regimental Tuesday and Friday sales, ops, and tech review.
Prabhat’s colleague Sanjay Singh is the Chief Operating Officer and Chief Technology Officer. He and Sanjay work very closely with his Accounts and Company Secretary teams, whose work has been outsourced.
Our Core Business is run on YourOwnROOM Proptech Platform that my Technology team has built. The tool also integrates with multiple systems including CRM, IVR, Payments, Project management, KYC etc., said Prabhat Kumar Tiwary, Founder, CEO, CMD, YourOwnROOM.
Monday to Saturday is usually very hectic for Prabhat. He puts in 10–12 hours a day of work as there is a lot of work to do.
Prabhat starts his day early and spends a few minutes planning for the entire day and the week ahead. His weekends are for meeting friends, and he dedicates his Sundays to his family. Before sleeping, Prabhat says that he watches videos and news for a good 30 minutes. Also, he likes to go out for dinners and social catchups and finds them very re-energising.
Prabhat Kumar Tiwary – Productivity Hacks
Prabhat said, “I am a big fan of Apple devices. I love their hardware and software, and they tremendously increase my efficiency and never let me down.”
He uses a MacBook Pro and a couple of the latest iPhones and keeps all the devices synced. He relies heavily on Microsoft Office tools and Apple productivity tools like Reminder, Notes, Calendar, and Mail. He and his team also use WhatsApp extensively to share updates and collaborate.
Prabhat Kumar Tiwary – Challenges Faced
Prabhat had multiple failures, more at a micro level than at a macro level. He is someone who sees failure as an opportunity for new learning. As stated by him, “Every time I fail, I reflect, fix my game, register the learning, and move on. I look at failure as a step to success.”
Prabhat Kumar Tiwary – Inspiration and Beliefs
As stated by Prabhat, “Of all the folks, my professors at Stanford Business School during my Sloan Master’s program have left a very lasting effect. Especially my professors who taught strategy, operations, leadership, and entrepreneurship. Their understanding and appreciation of various business insights and knowledge has tremendously helped me shape my beliefs and ideas.”
“Revenue is Vanity, Profit is Sanity and Cash is Reality.” – This is one of the most simple and powerful quote I have come across and every time I am reviewing my business I remind myself of the same. This helps me stay grounded and focused. Every time I see a company fail or struggle it reminds me of the above quote. It is so simple and powerful, said Prabhat.
FAQs
Who is Prabhat Kumar Tiwary?
Prabhat Kumar Tiwary is the Founder, CEO, and Managing Director of YourOwnROOM, a prop-tech residential real estate rental & property management company.
When did Prabhat start YourOwnROOM?
Prabhat started YourOwnROOM in the year 2016.
What does YourOwnROOM do?
YourOwnROOM is a prop-tech residential real estate rental & property management company with a vision to deliver higher economic returns to both individual & institutional property owners over the property lifecycle.
Unbeknownst, the falling Indian currency 78 INR mark rate against the US dollar for the first time helped Indian marketers, that is, somehow created a smooth way to one step ahead in achieving the fifth-largest economy in India.
As we know to excel in the business challenges, startups must take necessary actions in evolving tech, a shift in consumer preferences by adopting new product strategies, and frame objectives according to economic policies.
Some Indian unicorns overcame the following challenges as they introduced indulgent, efficient, and customer-centric products. In this regard, India ranks as the third largest unicorn-producing country in the world, with 106 unicorns competing against the USA and China.
Indian Cities With Their Unicorn Count: A Total of 106 Unicorns
According to IMF sources, India has surpassed the UK in the final three months of 2021 to become the world’s 5th largest economy, following the USA, China, Japan, and Germany in 2022.
Known for being the key pillar of the Indian economy, India’s startup ecosystem is a kick start to GDP growth, whereby the country achieved the milestone of 100 unicorns in May 2022.
The above graph shows the countries with the maximum number of unicorns (2022) as per the data shown by Google
Bangalore
We immediately conjure up an image of the country’s IT hub whenever we hear “Bangalore”, don’t we? Bangalore, as we all know, is a happening city in India with many tech-based companies and growing career opportunities. Bangalore is home to 43 unicorns out of 106 in India.
The city has a nurturing ecosystem that is known for its IT sector and ability to build top tech brands. By leveraging talented fellows, adopting cutting-edge technology, connecting with opulent inventors, and collaborating with multinational R&D centers.
Thereby, established top-most brands in achieving the $1 Billion mark within a short span and ultimately contributed 37% of unicorns of the nation in terms of leading sectors as Fintech 20% and SaaS 12% contribution of unicorns. Bangalore has earned the title of the top city in India for producing unicorns across industries like e-commerce, logistics, and ed-tech.
In no doubt, Mumbai has earned the deserving title of ‘the city of dreams, a place where many entrepreneurs have started their careers. As is the case, Mumbai is the richest city in the country with a homeland of 72 billionaires living and contributing $310 Billion toward the GDP of the country.
It accounts for more than 70% of unicorns in Delhi, as they are based in the Gurgaon region. The city has opened various portals for opportunities. Second-largest information technology hub and third-largest financial hub in India, Gurgaon is home to a slew of multinational corporations.
Since it houses top IT companies and fortune 500 companies, the city has been nicknamed ‘Cyber city’. With 13% of the total unicorn percentage in India, Gurgaon stands third in unicorn production.
Startup Name
Industry
Founding Year
Unicorn Entry Year
Oxyzo
Fintech
2016
2022
Mamaearth
E-commerce Personal Care
2016
2021
Spinny
Automotive
2015
2021
Mobikwik
Fintech
2009
2021
OfBusiness
Building Materials
2015
2021
Droom
Marketplace- Automotives
2014
2021
BlinKit
E-commerce- Groceries
2013
2021
Urban Company
Home Services
2014
2021
CARS24
B2C E-commerce
2015
2020
OYO
Hospitality
2013
2018
Rivigo
Logistics
2014
2019
PolicyBazaar
Insurance company
2008
2018
Zomato
Foodtech
2008
2015
Tata 1mg
HealthTech
2015
2022
MakeMyTrip
Online Travel
2000
2010
ReNew Power
Renewable Energy
2011
2017
Pristyn Care
Healthtech
2018
2021
New Delhi
New Delhi is not only the capital of India but lately, reformed into a new startup capital of India. Moreover, India will become the 3rd biggest economy in the world in 2022, and Delhi has become a hotspot for several startups and unicorns around India as well.
Gurgaon and Noida are the most prominent hotspots. Delhi is now home to 10 unicorns, with an estimation of roughly 1 billion dollars. And as of 2022, Delhi-NCR has a market worth 46 to 56 million dollars. Moreover, Delhi is reported to have the most Indian unicorns in a short span, and its startup ecosystem is growing exponentially.
Approximately 12,000 startups, 30 unicorns, and a cumulative valuation of about $150 billion could be based in Delhi-NCR by 2025, making it one of the top 5 global startup hubs. Delhi NCR contributes roughly 6.6% to the Indian unicorns.
Startup Name
Industry
Founding Year
Unicorn Entry Year
BharatPe
Fintech Payments
2018
2021
Delhivery
E-commerce Logistics Services
2011
2019
Lenskart
E-commerce- Eyewear
2010
2019
ShipRocket
eCommerce shipping
2017
2022
GlobalBees
E-commerce Retail
2021
2021
Pune
One fine feature in unicorns at Pune is women leading the start-up culture. Pune has 3200 Startups, on the other hand, Mumbai has 3274 Startups, which may compete against each other in the future in a healthy way.
Moreover, the Sci-Tech Park (established by the Ministry of Science and Technology, Government of India, and the University of Pune in 1986) alone has 153 startups.
As a result of Pune’s exceptional position to support start-ups and its proximity to industry, IT, and the best academic institutions, international collaboration among start-ups has increased over the past few years. Pune’s contribution to unicorns is approximately 5.7% as of a recent survey.
Startup Name
Industry
Founding Year
Unicorn Entry Year
ElasticRun
E-commerce Logistics
2015
2022
XpressBees Logistics
E-commerce Logistics
2015
2022
FirstCry
E-commerce
2010
2020
Icertis
Saas- Contract Management
2009
2019
Druva Software
Saas- Data Management
2008
2019
OneCard
Fintech
2018
2022
MindTickle
Saas- Enterprise Software
2011
2021
Chennai
Since Chennai city has failed to invest enough in startups in the last ten years, speed has finally picked up now, with a new administration in place. In a recent study, Tamil Nadu has a well-rounded business ecosystem spanning sectors, particularly in the industrialization sector.
However, compared to Bangalore, Mumbai, and Delhi, it still struggles to fit in. Moreover, several experts are believed to turn Chennai from Tamil Nadu into i-Tamil Nadu Technology, a hub for technology and a better startup ecosystem. Chennai as well pitches in 6.7% of the Indian unicorn sectors to the economy.
Startup Name
Industry
Founding Year
Unicorn Entry Year
Five Star Business Finance
Financial Services
1984
2021
Uniphore Software Systems
SaaS- Conversational Automation
2008
2022
CredAvenue/ Yubi
Fintech
2017
2022
ChargeBee
Financial Services
2011
2021
Freshworks
SaaS – CRM
2010
2018
The above graph shows the aggregate value of Indian Unicorns in Billion US Dollars as per the source Iron Pillar India Tech Trends Volume IV Report
Noida
In addition to Delhi, Noida has also bagged the title of a prosperous startup hub. The city is now a gateway for various global corporations. The city might be from Uttar Pradesh but emerged just like Delhi NCR when it comes to an industrial and manufacturing hub.
Noida has wide roads, and expressways in addition to greeneries, and for this reason, Noida is at present an up-and-coming city with an impressive startup ecosystem.
Moreover, it is near the Industrial Development Authority, Delhi, which makes good connectivity to the capital city, access to profitable talent, and cost-effective operations. Meanwhile, Noida extends 3.8% of the Indian unicorn sector’s income to the economy.
Startup Name
Industry
Founding Year
Unicorn Entry Year
Moglix
B2B E-commerce
2015
2021
PhysicsWallah
Edtech
2016
2022
Pine Labs
Fintech
1998
2020
Paytm
E-commerce Finance
2010
2015
Paytm Mall
E-commerce
2017
2018
Hyderabad
When there is a discussion about startup cities, Hyderabad also needs to be mentioned. Even though not many of the startups have turned into unicorns here, the number of budding startups here is quite high.
In the span of 3 years, from 2019 to 2021, approximately 933 startups were created here. It is not wrong to estimate that some of the smartest startups have been based in Hyderabad. And when it comes to unicorn startups, Hyderabad is home to 3 unicorns in India.
Startup Name
Industry
Founding Year
Unicorn Entry Year
Darwinbox
SaaS- HR
2015
2022
Highradius
Fintech
2006
2020
Zenoti
Saas- Spa and Salon Services
2010
2020
The above graph shows the percentage of Indian Unicorns based on the different geography as per Iron Pillar India Tech Trends Volume IV Report
Goa
Goa is highly acknowledged for its natural component. However, the government there is keen on making it a startup destination across India. Undoubtedly, Goa is home to many small and large startup businesses. Apart from that, Goa is also home to health based unicorn startup named Molbio Diagnostic.
Startup Name
Industry
Founding Year
Unicorn Entry Year
Molbio Diagnostic
HealthTech
2010
2022
Jaipur
The Pink city of India also provides a suitable culture for numerous startups to grow in it. The Ecosystem of Jaipur Startups is ranked at 7th position in India and 212th position globally. Jaipur is now home to one Indian Unicorn company and has many more coming in the future.
Startup Name
Industry
Founding Year
Unicorn Entry Year
CarDekho
E-commerce Automotives
2007
2021
Conclusion
On the whole, India has over 106 unicorns, all segregated in cities like Delhi, Bangalore, Chennai, Gurgaon, Noida, Hyderabad, Jaipur, Goa, and Mumbai. So far, India has globally earned recognition for its unicorns, and this may be one of the reasons why India is ranked third in the world economy.
FAQs
Which Indian state has the most unicorns?
Karnataka is home to the maximum number of unicorns.
Which city has the most unicorns?
Bengaluru has the most number of unicorns.
Which country has the most unicorns?
The United States has the highest number of unicorns in the world with a tally of 865 unicorns followed by China with an account of 224 unicorns.
Which is India’s 100th unicorn?
The 100th unicorn of India is a neo-banking platform named “Open”.
With steady growth, the tech industry is growing at an impressive 5.3% rate. The industry occupied around 35% of the total market base. And the count of tech companies is increasing with a high amount. For instance, the highest count of tech companies is based in the United States, with a count of more than 500 thousand.
And it’s true that regardless of their origin industry, the means of technology is acquired by everyone, and so is every industry. Technology covers all sectors, including hardware, software, online services, tools, and cybersecurity solutions.
Speaking of the tech industry, we are here to make you familiar with the top tech companies in the world, with their market capital and total revenue. So, let’s get started with the article!
List of Top Tech Companies in the world
The tech industry comprises many companies, among which are some of the most valuable in the world. And here’s the list of those and the top tech companies worldwide:
Apple iPad, Apple Mac Book, Apple Watch, Apple iPhone Mobile
Website
www.apple.com
Apple Website
With the highest market capitalization of USD 2421 billion, Apple has an enormous presence in the world’s tech market, making it a giant in the industry. Apple specializes in software, electronics, and online services, with an employee account of over 1,608,000.
Apple is an integral part of BIG FIVE, which includes Google, Amazon, Meta, Apple, and Microsoft. These five companies are the most valuable public corporations in the world based on their market capitalization.
This tech giant was founded in 1976 by Steve Jobs, Steve Wozniak, and Ronald Wayne. Since then, Apple has been on a progressive growth producing various kinds of tech devices, from computers to wearables.
Moreover, Apple is the largest technology company based on its revenue, USD 387.54 billion in 2022. And ranked the fourth largest personal computer vendor based on its unit sale in 2021. Its popular products are AirPods, iPhone, iPad, and Apple Watch.
2. Microsoft
Company
Microsoft
Founded
1975
Market Cap
$1825 B (2022)
Revenue
$198.27 B (2022)
Top Products
Microsoft Windows, Microsoft Office Suite, Micrsoft Azure, Internet Explorer
Website
www.microsoft.com
Microsoft Website
Being the most prominent tech giant in the world and the largest software company, Microsoft is one of the oldest tech companies mentioned in this list. It was founded in 1976 and released to the public in 1986. It is best known for its Windows operating system, Azure cloud services, LinkedIn social media platform, and Xbox gaming system.
Moreover, Microsoft is ranked first in the list of BIG FIVE tech giants. The company reported a 12.3% revenue growth in 2022, whose main credit goes to Microsoft’s Azure and other cloud services. Also, at the start of 2022, it announced its deal to acquire the video gaming publisher Activision Blizzard Inc. (ATVI).
3. Google Alphabet
Company
Google Alphabet
Founded
1998
Market Cap
$1346 B (2022)
Revenue
$278.13 B (2022)
Top Products
Google Search, Google Maps, Google Assistant, Gmail, Android
Website
www.abc.xyz
Next, with a whopping market capital of 1346 billion dollars, Alphabet Inc. is an American-based multinational company that originated from Google LLC and many other subsidiaries.
Google Inc. is considered a unanimous leader in the search engine sector across the world, whose market share is around 91.9%. Regarding the FIVE GIANTS, Google has always been a genuinely innovative and trustworthy tech giant, founded by Larry Page and Sergey Brin in 1998.
Google Alphabet always has a keen eye for investing in innovative projects such as life extension R&D company Calico, self-driving cars, the smart home project Nest, and many more.
4. META
Company
Meta
Founded
2004
Market Cap
$545.44 B (2022)
Revenue
$117.929B (2021)
Top Products
Facebook, Meta Audience Network, Meta Business Tool
Website
www.about.meta.com
Meta Website
When it comes to top tech companies across the world, META can never be off the table. The company is the parent company of the most powerful social media platforms such as Facebook, Instagram, and Whatsapp.
Mark Zuckerberg founded the company when he was still a student at Harvard University in 2004. META succeeded with an advanced graph, and as of today, the company has reached nearly 3 billion active users monthly.
In competing with Snapchat and Tiktok, META has introduced several innovative features that have made it a leader in online advertising.
The global tech industry is roughly valued at $5.2 trillion. The above graph shows the global tech industry distribution by the market share in percentage.
5. Tesla (TSLA)
Company
Tesla
Founded
2003
Market Cap
$656.57B (2022)
Revenue
$74.863B (2022)
Top Products
Tesla Electric Car, Tesla Model X, Tesla Model 3
Website
www.tesla.com
Tesla Website
Tesla is a true leader in electric vehicle development and production. Even though the prices of vehicles offered by Tesla are too high, and it takes a lot of time to deliver them, consumers prefer them over everything else.
Tesla was founded by Elon Musk who is also the current CEO of the Tesla Company. The unique thing about Tesla is its business model, which does not use the traditional dealership model of selling vehicles.
Initially, the company was limited to online marketing only, but with time, it started developing its technological devices and also offered cloud services to consumers. With such an innovative mindset, Amazon is ranked the 6th largest company by Forbes among the list of top 25 techs and IT companies.
7. Samsung Electronics
Company
Samsung Electronics
Founded
1969
Market Cap
$281.39 B (2022)
Revenue
$250.21 B (2022)
Top Products
Samsung Galaxy Mobile Phones, Samsung Monitors, Samsung Camera
Website
www.samsung.com
Samsung Electronics Website
Samsung Electronics is the largest mobile phone manufacturing company and the biggest competitor to Apple Inc in the production of mobile phones.
The company is based in Seoul, South Korea. Samsung Electronics isn’t limited to producing electronic devices but also ships, turbines, aircraft engines, and life insurance. Its flagship brands are Galaxy S, Z, and note series. They contribute up to 40% of the company’s growth.
Tencent Holdings, a Chinese technology conglomerate company, is the first-ever Asian tech company that reaches the mark of $500 billion.
The company offers web portals, payment systems, e-commerce platforms, mobile games, and social networks. Along with this, it also owns Tencent Music and Tencent Games companies.
The most successful product of Tencent Holdings is WeChat which has over 1.2 billion monthly active users. The company also provides various marketing solutions and cloud services.
9. Alibaba Group
Company
Alibaba Group
Founded
1999
Market Cap
$191.14B (2022)
Revenue
$134.567 B (2022)
Top Products
Alibaba.com, Aliwangwang, Alibaba Cloud, AliGenie
Website
www.alibabagroup.com
Alibaba Group Website
Another massive Chinese multinational technology company is Alibaba Group. It specializes in retail, e-commerce, the internet, and technology. It offers various profitable services such as web portals, electronic payment services, shopping search engines, and cloud computing.
Alibaba Group was founded in 1999 and established in Hangzhou, Zhejiang. Regarding retailers and e-commerce companies, Alibaba Group is one of the largest groups of companies in the industry.
Moreover, the company is ranked fifth among the largest artificial intelligence companies in the world in 2020.
Semiconductors Used in Mobile Devices, Internet of Things, Automotive Electronics
Website
www.tsmc.com
TSMC Website
Being the largest contract chipmaker in the world, Taiwan Semiconductor Manufacturing produces highly advanced and innovative semiconductors designed by Qualcomm Inc. (QCOM) and Advanced Micro Devices Inc. (AMD).
In recent years, Taiwan Semiconductor Manufacturing has reported a 43.5% growth in its revenue and a net worth of $7.9 billion. The company was founded in the year 1987 and ever since then; it has been leading the global semiconductor foundry, where it generates a 517% return for investors.
Another super famous American tech company is Dell Technologies, which specializes in the market of personal computers. It offers a vast range of tech products, such as data storage devices, servers, SmartTV, network switches, computer accessories, cameras, and many more.
This tech company was founded in 1984 by Michael Dell. Since then, Dell Technologies has been known for its innovative chain supply management and direct sales e-commerce model.
12. Oracle Corporation
Company
Oracle Corporation
Founded
1977
Market Cap
$202.40 B (2022)
Revenue
$44.15 B (2022)
Top Products
Oracle Database, Oracle ERP, MySQL, Oracle E-Business Suite
Website
www.oracle.com
Oracle Corporation Website
Oracle Corporation, a computer software company, was founded in 1977 in California, United States by Larry Ellison, Bob Miner, and Ed Oates with its corporate office headquartered in Austin, Texas.
The company has over 400,000 customers across the globe, such as Siemens Healthineers and FedEx. It provides multiple specific solutions for different types of industries.
Its solutions help manage the modernization of restaurants’ finances, connect HR/product management, secure network infrastructure, and, most importantly, enhance client satisfaction.
Foxconn is spread over to more than 20 countries with its subsidiary count reaching up to 200+ in total. It is also considered the world’s largest electronic manufacturer and a leading science and technology solution provider.
Its top products in the market are iPhone, Kindle, iPad, Blackberry, Redmi phones, PlayStation, and Nintendo. Foxconn ranked 22nd in the 2021 Fortune Global 500.
14. Huawei
Company
Huawei
Founded
1987
Market Cap
$71.2 B (2022)
Revenue
$99.9 B (2021)
Top Products
Huawei MateBook, Huawei Watch, Huawei Mobiles
Website
www.huawei.com
Huawei Website
Another China-based tech company is Huawei Technologies, a consumer electronics manufacturer. Its designs create and sell telecommunication tools to the top telecom companies worldwide, including British Telecom, Bell Canada, and Vodafone.
The company was started as a reselling private branch exchange company, founded in 1987 by Ren Zhejiang. Today, Huawei is a telecom behemoth that develops numerous innovative tech gadgets.
Adobe was founded in 1982 as an American-based software company that provides practical solutions for marketing and document management. Its top products in the market are Adobe Photoshop, Adobe Acrobat, and Adobe Creative Cloud.
Adobe was founded by John Warnock and Charles Geschke in 1982 with its headquarters being placed in San Jose, California (United States). Adobe Inc. also expanded its services in digital marketing software and was considered one of the top global leaders in Customer Experience Management (CXM) in 2021.
The top three services provided by Adobe are Creative Cloud, Experienced Cloud, and Document Cloud.
Conclusion
In conclusion, we can say that the tech industry is increasing and covers some of the most valuable companies in the world. However, it’s essential to know that before investing in any company, you need to do thorough research and, after that, focus on buying an ETF.
As the industry contains a vast number of tech companies, there are many options for you to invest and earn a profit. The above list includes the top 15 tech companies in the world with some of the
FAQs
Which are the top 5 IT companies in the world?
The top 5 IT companies in the world are Microsoft Corporation, IBM, Accenture, Oracle, and TCS.
Which is the oldest tech company?
IBM is considered the oldest tech company in the world. Basically, IBM is counted to be 108 years old company.
What are the top 3 online businesses?
The top 3 online businesses are selling digital marketing services, freelancing, and coaching and consulting.
Who is the market leader in technology?
Apple is considered the market leader in technology with a marketing capital of about $2.448 T.
Any big brand that you see hoarding, was once an idea and nothing else. An idea that was conceived by a single person and then spreads into becoming a multi-million or a billion-dollar business. Examples may include Apple, Google, Microsoft, and the like. This is an article about one such brand which was so famous that it built a cult. Starting from an idea in a person’s brain to a million-dollar lifestyle brand. Although the business saw its share of ups and downs, it survived multiple decades and stood robustly while dying slowly.
The name is Playboy, which is not even an Indian brand, it never operated in India but we know, you know about it. A foreign brand started off with a simple business that eventually turned into a big company that offers lifestyle goals to people. Playboy was everywhere at the beginning of the company, there were magazines, merchandise, and everything that made it sculpted into the culture of the general public. At one time, the company even sold 7 Million copies of an issue, which was a record-breaking number. It felt as if Playboy was just everywhere and in reality, it was.
In this very article, we will go on to explain the rise and the eventual fall of this big company, as the magazine’s sales went to just four percent of what it was before. We will discuss what it offered to the public and what it sold in the beginning and how it came about in the future and established itself as a lifestyle brand. Let us read.
The idea of playboy was conceived by a person named Hugh Hefner. Hugh was a copywriter by profession but to do something different was listed on his deep to-do list. It was in the year 1953 when Hugh got this crazy compelling idea of an adult men’s magazine which did not exist at that time. He immediately started working on the blueprint and the topics that the magazine could potentially cover. In the same year, he went on to talk to investors about his idea and executed this idea into reality. That hard work bore fruit.
In 1953, Hugh Hefner got successful in accumulating forty-five investors for his idea of a magazine. All of them added to a pool of initial funds that amounted to about 8000 dollars in those times. This was the beginning of something that even these people were unaware of.
Due to a lack of resources, in the beginning, Hugh wrote and published the first version of the magazine from his apartment. Pulling together all the pages of the magazine on his kitchen table. These were the circumstances around how the first ever Playboy magazine was published. It was December of 1953 and this is nothing short of iconic. Let me add one more fun fact, the first ever model to star in an adult magazine was Marilyn Monroe, who was never paid. Interestingly, she didn’t even say yes to photographing her for the magazine. Hefner bought those photographs of Marilyn from her past struggling days under a fake name and then published her nudes in the magazine. This was how Monroe starred in the first-ever playboy magazine in the world. This first line of the issue of the magazine, sold over 70000 copies and was widely accepted and welcomed.
The Mid Shift
After the successful issue of the first-ever magazine of Playboy, there was no looking back and Hefner knew it. He knew that this magazine has the potential to grow out of the perception of a magazine with photos of naked women on it. With this thought in mind, Hefner went on to rediscover new and new articles that made the public woo over future issues. For instance, Playboy went on to introduce a section in their magazine known as ‘Playmate of the Month’. This section was updated every month and featured women who were sort of crowned as the hottest women. These women had one thing in common, all of them were not fashion models or actresses. These playmates were regular normal women that could be your secretary, laundry woman, or anyone that was not so distant from your eyes. This re-edition was hugely famous and was accepted and welcomed by many. Thus, playboy sold millions of copies with these efforts of regular sexiness.
By now, one might think that Playboy was solely playing on the premises of a magazine with naked women. That is not completely true. In the later issues, after the beginning and establishing itself, Playboy got on the literary train. They were not just a collection of adult pics but also some exquisite magazines of literary excellence.
Competition Factor
Penthouse came into the market of adult magazines and tried to shift the wind. They did not go far. The primary reason for this was the fact that playboy was able to get the cream of the crowd. It was there first in the line and was able to develop the taste buds of its readers. They were successful in generating the first group of people who would read these issues. So with a good chunk of the crowd that read Playboy magazine, they were able to get more and more customers. This can be capped in by saying that ‘nothing attracts a crowd better than a crowd’. In the case of Playboy, they have already established itself as a lifestyle brand that focuses on adult entertainment.
Another reason for playboy’s fame was the fact that there were not many players in the market. ‘Penthouse’ was a good attack but eventually faded out and remained low in the market. There was not some serious threat to the business they were doing. So with minimal competition, Playboy was able to influence culture in its favour.
All these factors led to a boom in the sales of the magazine. Every day was a new day for Hugh Hefner and the team at Playboy. As responsibilities grew, the team grew in numbers too. Subsequently, in 1972, they published the best-selling issue ever. The issue of 1972 was sold 7 million times, which was a massive number.
The Spread of Playboy
After the first issue and then the subsequent issues, it was clear that playboy was something out of this world and was going to be a big venture. This was thought by Hefner just in time. So he knew beforehand that they had to venture out of the magazine. They will continue the magazine but they will also step out into the real world with other businesses. Walking on these footsteps, they ventured to new spaces and began exploring with every caution.
The first notable thing that they did was establish a club. An exclusive club that embodied whatever the company Playboy had established by then. The club was known as just the ‘Playboy club’ and the magazine was also immensely popular. In the very first year, the club welcomed 50000 members which were nothing less of a rage. These Playboy clubs were famous for the ambience they gave and the special bunnies that waited for customers. Bunnies were literally everywhere.
Slowly and steadily the number grew. Playboy went on from just one club to having twenty-three clubs all over the world. The people who joined these clubs were not only playboy fans but they loved the iconic bunnies too. So what do we mean by a bunny? These playboy clubs had unique dresses for women waitresses (the only gender at work) which looked like bunnies. These outfits were bunny outfits and these women were trained to do some waiting tricks that were strongly specific to Playboy magazine fans and the clubs in town.
An excerpt from an interview with a former bunny waitress –
Bobbie Walters: It was an incredible place to be. It was magical.
Kim: That’s Bobbie Walters. She worked as a Bunny at the Playboy Club in New York City and, later, in Miami.
Walters: In New York City, there were 100 girls there. There were six different floors. So you could enjoy a show, you could enjoy a gourmet dinner, or you could dance to disco music, or you could just go down into the Playmate bar and have a drink.
Kim: As for what it was like to work as a Bunny…
Walters: The training was one week long. Once we got to the Playboy Club and got on the floor, we learned how to do the Bunny Dip.
(Bunny dip was a waiting trick where the waitress used to almost sit on the table and at the same time serve the drink to the table)
However, this was not the only dip that these bunnies were to face.
The 1986 Dip
In 1986, the last Playboy club was shut down and was sealed forever. This news did not come right to the mouth, there were months of speculation and there were years of the reason behind this shutdown. The reason for these closures was money issues. Like every other business, this business too was eating a lot of money and was not able to produce output that was greater than the input. Surely, Playboy was iconic, the bunnies were iconic and the theme and vision were all working, the clubs just shut down due to a mix of issues.
Around the 1980s there was a rise in gender advocacy. People started realizing that women are not respected and dignified enough and they knew that something had to change. Women were seen as much more than just housewives and chore doing gender, they were respected in every dimension. Soon enough groups and societies of people were formed that were empowering women. This social change along with political change at those times lead to diminishing returns for the playboy franchise. They continued the magazine business and merchandise but renounced the clubs.
This was not all, in fact, the magazine business was also hit. In addition to women’s empowerment, there was this slow rise in the video porn industry, which was of course giving out tough competition to the paperback magazine that men wanted to buy.
Apart from the social and political and scientific approach, there was a problem that even playboys did not see. The adult magazine did not ride on the train of the internet. The rage of the internet was not visible from the Playboy headquarters. They did not move fast toward the online fever, which really turned out to be a good big opportunity cost.
Afterwards
As the sales and revenue were sinking for the brand, Playboy tried to move hands furiously. They began to analyze their markets and tried to reorganize. They found out that China was a big market for the merchandise but the authorities had cut down on all the magazine sales of the brand. They also analyzed other markets to find new areas that they could jump into but they found very few areas where they could fit in, with their brand image. But Playboy was sure of some changes.
They made a reality TV debut. Yes, shockingly, Hugh jumped into the catastrophe with this idea. They commenced a TV show which showcased the life of Hugh Hefner with his then-three girlfriends and live-in partners. The show aired in about One hundred and fifty countries and had a good run. The response was satisfactory and thus, they managed to pull up six seasons for the show that showed off their lifestyle. In the early 2000s playboy finally got a mix with the culture and since then they have been playing it like that. Burning money to keep the brand alive. The merchandise and the magazine is still the prime source of income that keeps the brand afloat. The original magazine lineup still continues up to this day, they are read and loved by fans worldwide.
Quick Facts
Donald Trump once starred on the cover of Playboy. He is really proud of that.
Hefner died in 2017 and since then, there have been speculations about revenue losses and internal failures.
Playboy has a goddamn private jet that anyone who can afford can use.
Conclusion
The brand playboy has seen its share of the highest ups and the steepest falls. Beginning just from an idea in Hugh’s brain world, to being an actual million-dollar machine that still runs afresh. The iconic brand still is able to influence culture and the word playboy is as famous as Rolex now. Albeit the fact that the business is sinking and there are question marks on the profitability of the same, the adult magazine brand continues to give goosebumps to the followers.
FAQs
Who is the CEO of Playboy?
Ben Kohn is the CEO of Playboy.
When was the Playboy Mansion sold?
The Playboy Mansion was sold on August 2016 to Daren Metropoulos.
When did Playboy issue its last print magazine?
Spring 2020 was the last print magazine by Playboy.
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 Chime.
Businesses in the banking and financial sectors are increasingly focusing on mobile devices as a means of increasing consumer engagement and streamlining processes. The extensive use of mobile devices and the quick acceptance of mobile banking as a practical substitute for the expensive cost of completing transactions in physical branches is a big appeal for financial executives. As a result, the banking industry has been actively incorporating mobility into its client interaction strategy.
Mobile banking is the concept of doing monetary operations via a smartphone. Some financial organizations, particularly banks, provide this service. Customers and users of mobile banking can complete a variety of transactions, which may differ depending on the financial institution.
Chime is a company that creates mobile financial and banking platforms to provide banking services on the move. Users may avoid costs, save money, and lead better financial lives thanks to the company’s platform, which sets a predefined amount of funds away in savings following a payment and generates income from transaction fees paid by the merchants.
Chime Financial, Inc. is a financial technology business based in the United States that offers fee-free mobile banking services through The Bancorp Bank or Stride Bank, Visa debit or credit cards are provided to N.A. account holders, who also have access to secure online banking platform through the business’ website or smartphone apps.
Chime is not a bank, and its customers do not have any banking relationships. Chime may and does deactivate user accounts with no warning; it is not obligated to give the client a cause for the termination or even have one. Customers cannot file a complaint with banking regulators to get their deposits back since they might not be paid out right away.
Chime doesn’t have any physical branches, doesn’t impose overdraft or monthly payments, and doesn’t ask for an initial deposit or a minimum amount to start a free bank account. At present the accounts are only accessible to persons with private accounts; all money received must be in the name of the personal account holder.
The following are some features of the app:
A thorough dashboard snapshot of their expenditures and account balance.
Automatic savings account contributions.
Early payments via direct deposits.
Zero overdraft charges
There are approximately 60,000 ATMs in the US, yet none charge fees for withdrawals.
Instantaneous payments to other Chime users.
Chime – Industry
The term “financial services” refers to the monetary services provided by the banking sector, which comprises a wide range of companies that balance a budget, which includes credit unions, financial institutions, individual asset managers, card companies, insurance providers, accounting firms, consumer finance firms, brokerage firms, investment funds, and some govt-sponsored entities. Several other businesses that depend on credit and loans to function are supported by financial services. Despite mixed findings, the majority of estimates place the financial services industry at 20–25% of the global GDP.
With a compound annual growth rate (CAGR) of 9.7%, the worldwide financial services market increased from $23,319.52 billion in 2021 to $25,588.3 billion in 2022. Economic sanctions on many nations, a rise in commodity prices, and disruptions in the supply chain as a result of the conflict between these two nations have all had an impact on several markets throughout the world. At a CAGR of 6.9%, the financial services industry is anticipated to reach $33,358.77 billion in 2026.
Chime was founded by Chris Britt and Ryan King in the year 2013.
Chris Britt & Ryan King | Founders of Chime
Chris Britt
Chime is a San Francisco-based firm that Chris Britt co-founded in 2013 as a no-fee mobile banking app and debit card. Chris attended Tulane University to earn his degree. At Visa, Inc., he held the position of senior product leader. Before establishing Chime, he previously worked for a company called Green Dot Corporation.
Ryan King
Ryan is Chime’s Co-Founder and Cheif Technological Officer. Ryan was previously the VP of Engineering at Plaxo, an early professional social networking pioneer bought by Comcast Interactive Media. Ryan formerly previously served at Microsoft and Liberate Technologies. Ryan has bachelor’s and master’s degrees in computer science and engineering from UCLA and Stanford University, respectively.
Some other team members include :
Dennis Yu – Chief of Staff
Jeff Trudeau – Chief Information Security Officer
Russ Branzell – CEO/President
Adam Burde – Sr. IT Systems Engineer
Amine Asmerom – VP, Controller
Arkadiy Tetelman – Head of Application & Infrastructure Security
Beth Steinberg – Vice President, People & Talent
Jay Parekh – VP, Business Development & Partnerships
Ori Dugary – Vice President of Operations, Member Experience
Chime – Startup Story
Regardless of its importance, the covid outbreak and quarantine had an impact on every aspect of society as it turned our existence upside down. In spite of the fact that it is a huge aid, most individuals became hesitant to visit bank offices. Despite the fact that banks were open during the lockdown, people started switching to other options. In the field of online transactions, the majority of banks have noticed a noticeable improvement of about 40%. With the help of various banking and UPI applications, people were increasingly using the internet to exchange money and pay their bills. Many banks have been inspired to adopt this shift by the US-based banking company Chime.
Chris Britt and Ryan King founded Chime in 2013, and the company is based in San Francisco. The formal debut was on the Dr. Phil Show on April 15, 2014. Chime stands out since it was founded in the era of smartphones. As a result, they were able to launch an app right away for the convenience of the user. It is simple for clients to use for monitoring their financial standings. They can manage their credit cards and get their questions answered by customer service representatives.
The environment that Chime has developed for its customers is actually establishing new standards for banking services. The company’s absence of branches is quite intriguing and sets them apart from its opponents. They provide Visa debit cards and access to an online banking platform through chime.com for account holders. The clients have the option of doing their business using an Android or iOS mobile application.
Chime – Name, Logo, and Tagline
Chime Logo
Chime’s tagline says “It’s your money. It’s your life. Chime in.”
Chime – Mission, and Vision Statement
Chime’s mission statement says, “We created Chime because we believe everyone deserves financial peace of mind. We’re building a new online bank account that helps members get ahead by making managing money easy. It’s your money. It’s your life. Chime in.”
Chime – Business Model
By charging its customers’ interchange fees on transactions they complete through the Visa payment gateway, Chime generates revenue. ATM fees and interest on cash are other revenue sources for Chime.
Exchange charges – The interchange fee model is where Chimes makes the most money. This stream covers the costs that Chime’s affiliate retailers incur while using its network to process transactions. The business is responsible for paying a processing charge to Chime each time a Chime user swipes their Visa card.
Chime receives a portion of the 1.5% cost that merchants pay to Visa, which is far less than the processing fees charged by other legitimate credit card providers like Amex. Chime generates a sizable amount of revenue from the roughly 40 transactions every month that its millions of customers perform.
Chime leverages its merchant revenues to give customers a better experience by doing elimination of account fees, ATM fees, and other expenses connected to traditional banking.
Interest on money – Chime users may use the app to invest in savings accounts and other financial instruments.
Users’ money is transferred into a high-yield savings account through the automated savings option. Chime makes short-term loans of this money to banks and other financial organizations. Chime earns interest on the cash as payment for the loan at an interbank rate that is far higher than the 0.5% APY that users receive on cash balances in their accounts.
ATM fees – VPA and MoneyPass are two of Chime’s ATM networks. Consumer pays $2.50 for each ATM withdrawal if they use an ATM outside of this 38,000-location network.
Additionally, ATM providers may impose additional fees at their discretion. Up to 20% of Chimes’ earnings come from ATM revenue.
Chime – Funding, and Investors
Date
Round
Amount
Investors
Aug 13, 2021
Series G
$750M
Sequoia Capital Global Equities
Sep 18, 2020
Series F
$533.8M
–
Dec 5, 2019
Series E
$700M
DST Global
Mar 5, 2019
Series D
$200M
DST Global
May 31, 2018
Series C
$70M
Menlo Ventures
Sep 27, 2017
Series B
$18M
Cathay Innovation
May 19, 2016
Series A
$9M
Aspect Ventures
Nov 5, 2014
Series A
$8M
Crosslink Capital
Aug 30, 2013
Seed Round
$3.8M
–
Chime – Acquisitions
Acquiree Name
About Acquiree
Date
Amount
Charlie Finance Co.
Charlie Finance is a financial services company that helps ordinary Americans worry less about money and get out of debt faster
Aug 16, 2021
–
Pinch
Pinch makes it easy to build its clients’ credit history just by paying their rent.
Sep 17, 2018
–
Chime – Competitors
Chime is a market leader in fintech, but it faces stiff competition from other companies that operate in the same industry.
The company’s main rivals as a digital bank include Dave, Marcus, Ally Bank, and Varo Bank. Chime relies on its partner banks, Stride Bank and The Bancorp Bank, as each of them does have a charter. Chime may provide FDIC-insured deposits to its clients on all balances and assets kept with the new bank, just like its rivals.
Chime – Future Plans
Chime’s bank accounts are guaranteed up to the typical maximum deposit amount of $250,000. The Bancorp Bank or Central National Bank, which changed its name to Stride Bank, N.A. in 2019, is their main collaborator. The accounts on Chime are also managed by Stride Bank or Bancorp Bank. Chime does not seek to push credit on its clients, in contrast to conventional banks that encourage customers to acquire overdraft assurance and advances. Additionally, they are not required to maintain a base balance, incur monthly costs, or pay overdraft fees. The business provides customers with discounts or money back at the time of purchase through its money-back rewards program.
Chime has become one of the most popular and effective digital banking apps in the United States over the years. The organization has so far raised 2.3 billion dollars of funding and is currently valued at $25 billion (2021). It reported an estimated profit of close to $200 million in 2019. In order to maintain its leadership position among challenger banks, Chime also plans to expand into Visa and trading services.
According to Chime’s CEO, the firm bases its products on four fundamental aspects of sound monetary planning: spending, saving, managing credit, and investing. In order to help people with little to no credit manage their finances better, Chime will continue to create programs that offer tools and information.
FAQs
Who is the CEO of Chime?
Chris Britt is the CEO of Chime.
Is Chime owned by Amazon?
No, Amazon doesn’t own Chime.
How much is Chime valued?
Chime has raised a total of $2.3 Billion and is valued at $25 Billion.
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 Kroger.
Over a period of time, finding your daily needs quickly has become very important. People have busy lifestyles and need one place to shop for their groceries. This led to the emergence of multiple retail giants who slowly expanded their base all over the USA.
Kroger is one such online grocery and in-store retailer. It has set up various drug stores, supermarkets, marketplaces, multi-department, and jewellery stores across the country.
Started with a single grocery store in Cincinnati to now owning 2500+ outlets in 35 states they provide products like natural food, medicines, general merchandise, apparel, fresh seafood, toys, electronics, home goods, etc. Read on to have detailed information about Kroger and its business model, revenue model, startup story, founders and team, and more.
Kroger is one of the largest retail store chains operated in the USA. It was founded by Bernard Kroger in Cincinnati, Ohio, in 1883. It is a retail company known to operate supermarkets and multi-store companies across America. Kroger currently owns around 2,800 stores in 35 various states.
The graph shows the number of stores operated by Kroger as of January 2022
Kroger – Industry
The United States is home to some of the largest retail companies in the world. The introduction of the Pandemic and National lockdown did affect the industry revenue and was considered a pathway to introduce more e-commerce retail sales within the year.
For the year 2021, the total retail sales in the US were 6.59 billion USD. The retail trade accounts for 5.5% of the Country’s GDP in total.
Different segments of the retail sector are Products (Food and Beverages, Personal and Household Care, Apparel, Footwear and Accessories, Furniture, Toys and Hobby, Electronic and Household Appliances, and Other Products), Distribution Channels (Supermarkets/Hypermarkets, Convenience Stores, and Department Stores, Specialty Stores, Online, and Other Distribution Channels), etc.
Kroger operates in the retail sector. It is a grocery retailer specializing in distributing and producing food through stores. The store offers a variety of products. However, the retail sector in the USA is vast. There are many players in the market vying for the same customer base.
Kroger – Founders and Team
Bernard Kroger founded Kroger in 1883 in Cincinnati, Ohio.
Bernard Kroger (Founder)
Bernard Kroger – Founder of Kroger
Bernard Heinrich Kroger was born on January 24, 1860. Kroger was born to a German immigrant couple named Johan Heinrich and Mary Gertrude. He was the fifth child out of ten children born to the couple. At the age of 13, Kroger had to quit school and went to work in order to support his family.
He used to live in a modest store that his family was running. However, during the 1873 economic recession, the store closed. He had multiple job changes before starting to work as a salesman for Imperial Tea Company.
Kroger was made the manager of one of their outlets, and he quickly transformed it into a profit-making one. He has been credited with the introduction of self-service grocery outlets.
William Rodney McMullen (Present CEO)
William Rodney McMullen – Chairman and CEO of Kroger
William Rodney McMullen was born in 1961 and is the present Chairman and CEO of Kroger. He holds a bachelor’s and a master’s degree in the field of accounting from the University of Kentucky. McMullen started his career as a part-time stock clerk in his local Kroger grocery store.
From there he worked as a financial analyst in the corporate headquarters in Charlotte. In 2009, McMullen was appointed as the vice chairman and COO of the company. However, for the CEO position, he ascended to the position on 1st January 2014. McMullen is also the non-executive director of Cincinnati Financial.
Kroger – Startup Story
Kroger Website
In 1883, Bernard Kroger decided to set up his own store. He invested his entire savings of $372 in opening a store in Cincinnati. His product list included self-produced items that increased his credibility.
In 1884 he moved to open another store. Tasting success with this one, the company started expanding. In 1902 the Kroger Grocery and Baking Company was launched. Now the number of stores has increased, and the company is making sales of $1.75 million. Kroger then became the first retail store to have their own bakery.
Kroger – Mission and Vision
Kroger adopts a focussed approach to specific areas of retailing. Its vision statement is as follows:
“To be a leader in the distribution and merchandising of food, pharmacy, health, and personal care items, seasonal merchandise, and related products and services.”
Their mission statement is:
“We’re on a mission to end hunger in the communities we call home and eliminate waste across our company by 2025.”
Kroger – Name, Tagline, and Logo
Kroger has always encouraged healthy and fresh eating. Their tagline, therefore, resonates with the same:
“Fresh For Everyone”
Below is the logo for Kroger Corporation
Kroger Logo
Kroger adopts its signature colour, blue, to create attractive logos every now and then. The choice of blue is to signify the heritage of the brand being food savvy. It also portrays a feeling of trust and safety for the customers.
Kroger – Business Model
Kroger comes in the top 5 retail store chains operating in the USA. They have a unique methodology to get their customers onboard. Their business strategy has been to adopt a cost leadership approach. However, they do not offer low prices to get sales. Kroger reduces the operating costs so they can sell the merchandise at low prices yet make a profit.
The company gives a lot of importance to its customer’s opinions. It takes their feedback and creates products based on that information. They also use the data to stock the products needed, set affordable prices, and give them a fantastic shopping experience.
Kroger also uses the latest technologies to gain a competitive advantage over other players. For instance, in 2013, they started using a temperature monitoring system in their stores. This helped them in ensuring only fresh products for display in the store.
Kroger generates revenue from the sales of products stocked in its stores. As per their website, the revenue of Kroger for the last quarter was $146.48 Billion. They had an operating profit of $841 million. Their digital sales showed a jump of 10%. The company is doing reasonably well and will pay the quarterly dividend without any hitch.
Kroger – Employees
Kroger is committed to giving its employees a motivating work environment. The estimated number of employees working for Kroger is believed to be around 465,000 (2022). They offer the following benefits, so their employees work for them sincerely.
Some of the benefits include Dental and health insurance, Disability insurance, a Flexible spending account, a Health saving account, Vision benefits, team building events, retirement plans, paid parental leaves, and many other facilities.
Kroger – Challenges Faced
Kroger had to face many problems due to high supply chain costs and an increase in the prices of food items. The grocers were facing the impact of inflation. Whereas, it was difficult for Kroger to know when to increase the prices. 2017 was a challenging year for Kroger. The stock prices were not up to the mark because of the increasing costs.
At present, there are a lot of waste items in their warehouses. The company had no clue about how to use these items. Kroger started working on a robust distribution system to ship the items before they perish.
By knowing the customer’s requirements, the company would only make items that were in demand. This way, they cut down another aspect which could increase the waste inventory.
Kroger – Funding, and Investors
Kroger has made multiple investments with their most recent investment done on July 25, 2022. Other details are shared below in the table with the most recent investments done by Kroger.
Announced Date
Organization Name
Funding Round
Money Raised
Jul 25, 2022
Kitchen United
Series C – Kitchen United
$100M
Nov 2, 2021
Nuro
Series D – Nuro
$600M
Feb 2, 2021
Everytable
Grant – Everytable
$1M
Jan 1, 2006
I-Wireless
Venture Round – I-Wireless
—
With regards to investors, the lead investor for Kroger is Berkshire Hathaway. They have raised $550 million with Berkshire Hathaway
Kroger – Mergers and Acquisitions
Kroger has acquired a number of organizations on its path to success. there are around 12 acquisitions noted by Kroger. The most recent oneth are shared below.
Acquiree Name
Announced Date
Price
Albertsons Companies
Oct 14, 2022
$24.6B
Home Chef
May 23, 2018
$200M
Murray’s Cheese
Feb 8, 2017
—
ModernHEALTH
Jul 20, 2016
—
Roundy’s
Dec 18, 2015
—
Vitacost
Jul 2, 2014
$280M
YouTech
Feb 11, 2014
—
Harris Teeter
Jul 9, 2013
—
Kessel Food Markets
Dec 20, 1999
—
Fred Meyer
Oct 19, 1998
$13B
Kroger – Growth
In the third quarter of 2022, Kroger clocked $34.2 billion in sales. The company’s sales showed a rise of 6.4% from the last year. This excluded the sales of fuel. The digital sales for the company also rose by 10%, which was due to a 34% increase in online delivery sales.
At their outstanding performance, the CEO of Kroger, Rodney McMullen, said: “Kroger achieved strong results in the third quarter as we continue to execute our Leading with Fresh and Accelerating with Digital strategy.”
Kroger – Advertisements and Social Media Campaigns
Kroger actively posts its ads, thus garnering enough visibility for its brand. Its latest ad focuses on human relationships and the memories that holidays bring out. They want to remind the people of the love and warmth associated with the holiday season. Kroger’s ads are usually animated and the characters used are called Kroji.
Kroger – Awards and Achievements
Some awards that Kroger has received over the years are:
Kroger ranked #10 on Forbes Corporate responders Top Employers in Pandemic ranking.
Newsweek named Kroger as one of America’s responsible companies in 2021.
In 2021 Kroger was ranked number 4 in LinkedIn’s top companies of Cincinnati.
Computerworld mentioned Kroger as the best place to work in IT for the fourth time in a row.
Omnikal has listed Kroger among America’s top 50 companies offering Multicultural business opportunities.
WBENC recognized Kroger as being an excellent place for women to work.
Kroger – Competitors
Kroger is an established player in the retail sector. Its Competitors include some of the popular names like:
In the coming years, Kroger will continue to focus on its in-house brands, i.e., Fresh and Our Brands. The company would also improve its digital service landscape. This would help the company to enter new areas irrespective of geographical boundaries.
Kroger would also work to achieve the Zero Hunger/Zero commitment they build their brand. The company aims to further its rising sales and get a total shareholder return of 8-11% over time.
Conclusion
Amazon is the world’s biggest e-commerce retail company and is acknowledged by all. Similarly, Kroger is also one of the biggest retail companies in the USA. It was started by Bernard Kroger in 1883.
The company now holds approximately 2849 stores across the country. The current CEO of the company is Rodney McMullen. Kroger is responsible for the introduction of many revolutionary products/services in the market.
FAQs
Are there Kroger stores in Florida?
Yes, Kroger owns a store in Florida. Even though the number of Kroger Stores is limited to one, it does have a store there.
Does Kroger own Winn Dixie?
No, Kroger does not own Winn Dixie. Winn Dixie was acquired by BI-LO in 2011, so it is not owned by Kroger.
What is the largest grocery chain store in Texas?
Some of the largest grocery chain stores in Texas as Family Dollar, Dollar Tree, Walmart, and Kroger.
Are Kroger stores there in all 50 states?
No, Kroger has not yet made its store available in all 50 states. The rough number of Kroger stores in states is around 42. That is Kroger is available in 42 states from 50.
Business owners today like to keep most of their data on digital storage units, and rightly so. There are so many benefits of storing data on the cloud such as availability, backup, and retention. Similarly, business owners these days also like to have a digital bookkeeping and accounting system, to make the job effortless and more efficient than traditional methods.
Owing to the many advantages of bookkeeping software, Business owners are in constant search of the perfect tool, tailored to their needs, which can best handle and adapt to their accounting system. Since there are several free open source bookkeeping and accounting software options available to help you stay organized and on top of your finances, this search might prove to be exhausting. However, to make this software hunt effortless, here we discuss the best free accounting and bookkeeping softwares for businesses most recognized by the industry, so you can choose the one that suits your business.
Best Free Accounting Software
Steps to Choose A Free Accounting Software
Choosing the right free accounting software is an important decision for any business. It can help you track your financial transactions, prepare tax returns, and make informed decisions about your business. With so many options available, it can be overwhelming to determine which free software is best for your needs. In this step-by-step guide, we’ll walk you through the process of selecting the right free accounting software for your business.
Step 1: The first step in selecting the free accounting software is to determine your specific needs. Consider the size of your business, and features you may need, such as inventory management or invoicing.
Step 2: Once you have a clear idea of your needs, it’s time to research your options. Choose the above-mentioned list of tools and visit the pricing plan section on the company’s website and browse the features provided in the free plan.
Step 3: Chat with customer support and ask all the questions which are in your mind. Narrow down the options that best suit your needs.
Step 4: Once you have narrowed down your options, it’s a good idea to test out the software to see how it works in practice. Try out the software and see if it meets your needs.
Step 5: After researching your options and testing out the software, it’s time to make a decision. Consider the features, user interface, and integration capabilities of each software, and choose the one that best meets your needs.
When to Upgrade from Free Accounting and Bookkeeping Software
If you’re currently using free accounting and bookkeeping software, you may be wondering if and when it’s time to upgrade to a paid version. Here are a few things to consider when making this decision.
Business size: Small businesses have less complex financial structures compared to large-size businesses. Hence, if your business starts growing and it seems difficult to manage everything with the basic features available in the free plan, then you consider upgrading the plan.
Features: Free software often has limited features compared to paid versions. If you need specific features such as inventory management, project tracking, or advanced reporting, you may need to upgrade to paid software.
Budget: Budget is one of the main factors to consider when deciding whether to upgrade from free software is your budget. While paid software can come with a higher upfront cost, it may save you time and effort in the long run, and ultimately, be more cost-effective for your business.
Support: With free software, you may not have access to the same level of support as you would with a paid version. If you rely on timely support and assistance with your accounting and bookkeeping tasks, paid software might be a better choice.
Best Free Bookkeeping and Accounting Softwares For Businesses
Cloud, SaaS, Web-Based, Desktop (Mac and Windows), Mobile (Android, iPhone, iPad)
Zoho Books Free Accounting Software
Zoho Books is a cloud-based accounting solution that enables you to effortlessly track cash flow in and out of your business. Keep track of your customers, invoices, and expenses to ensure efficiency. Keep track of your banking transactions, collaborate with your accountant in real time, and reconcile bank accounts. Above all, Zoho Books aids you in making decisions with greater accuracy and keeping track of your business.
Zoho books is loaded with all the essential functionality of bookkeeping software, it provides seamless integration with 50+ Zoho software. Integrating other Zoho apps and syncing data into Zoho books as per the requirement of the business is very easy. Moreover, its powerful and robust automation tool helps to eliminate repetitive tasks of business.
Features Offered by Zoho books
Vendor portal allows your vendors to manage their business transactions, invoices, and payments. Through this portal, vendors can create invoices, and you can store those invoices as bills for your records. Vendors can also see all their transactions related to you in one place.
Give access to the software to your employees based on the different roles they do for you. Restrict them from customizing everything by limiting their access to any specific portion.
Manage your project and count every working minute to bill your client accordingly with the time-tracking feature of Zoho. Convert your billable minute to invoice in one click and send it to your client for payment.
Connecting your bank account to your Zoho account will help to fetch all your business banking transactions to your Zoho banking dashboard.
Leverage the access of multiple payment gateways to accept payment. You can also collect payments on a recurring basis.
All small and medium sized businesses and accounting & bookkeeping practices.
Deployment
Cloud, SaaS, Web-Based, Mobile (Android, iPhone, iPad)
Xero – Free Accounting Software
This award-winning accounting program has been designed especially for small business owners and accountants to use online. Accessible from any device that has an internet connection. Xero is committed to providing an effortless accounting experience with its effective accounting software. It has more than 3 million subscribers worldwide who trust Xero. Day-to-day business compliance with zero errors has never been easy, but with Xero, it is possible to investigate financial documents in no time.
How To Use XERO – Accounting Software Tutorial for Small Business
Features Offered by Xero
Scheduling the most important accounting work is the most influential feature of Xero. You can create a working paper using trial balance information on Xero and assign it to your staff to work on.
Capture your data automatically to your Xero account using hub doc. Now there is no need to waste your time by entering data manually. Just take photos, scan them, and upload them to Xero.
Multi-currency accounting in 160 currencies to pay and get paid. Only a few accounting software provide currency conversion to this extent with rate change updates.
Show your business professionally by utilizing the benefit of online quotes from Xero. Create a quote, send it to clients, wait for approval, and once approved change it to an invoice in a single click.
Record, update, and manage your assets and liabilities in one place and access anywhere using the internet.
Pros:
Easy-to-use interface
Mobile app available
Wide range of third-party integration
Multiple user collaboration
Hubdoc to capture data automatically
30-day free trial
Inbuilt payment option in online invoice
Cons:
Only online support is available via chat
Need to purchase payroll separately
Free plan is not available
Lack of graphic chart of reports
Akaunting
Rating
4.0/5
Best For
Businesses Looking for a Truly One-Stop Free Accounting Software
Akaunting is the best free open source accounting software developed to help small businesses manage their finances and maintain their financial stability. Simplifying invoicing, setting up online payments, and managing expenses is easier than ever. It helps you view all your financials from any device and location, with an open-source system, which also ensures the safety of your data and finances. Akaunting offers tools for cash flow, invoicing, reporting, and transaction categories, along with a client portal to accept bulk payments.
Features Offered by Akaunting
Akaunting allows you to remotely view your financials from any device and location without risking data loss or theft owing to its open-source accounting.
Manage customers by sending them invoices and accepting online payments, and setting authorization for entering client portals.
Assign bills and payments to vendors that you create and filter transactions, and manage finances with bills and accuracy.
Akaunting allows deposits and transfers between accounts to keep an active account balance, and seamlessly manage taxes with convenient names, for specific products.
Add unlimited bank accounts and deal in different currencies and convert the balance to your currency.
Pros:
Free forever plan available
50+ app integration
Easy invoicing with a client portal
Simple interface
Lifetime free updates
Financial Reporting and easy bank reconciliation
Can be installed on your self-hosting
Cons:
Some customers experienced poor support
No mobile application
Wave Accounting
Rating
4.4/5
Best For
Sole Proprietors and Small Businesses
Deployment
Cloud, SaaS, Web-Based, Mobile (Android, iPhone)
Wave – Free Accounting Software for Small Businesses
Wave Accounting provides completely free, open source, accurate double-entry bookkeeping for small businesses. Wave is a cloud-based application, enabling you to access your data from anywhere, add multiple collaborators and manage all aspects of your business with one login. With Wave, you can avoid tedious data-entry while getting easy access to financial reports and reclaim valuable time for the things you love doing. Seamless integration of your accounting with invoicing, receipt scanning, payment processing and payroll is possible with this tool.
It helps you manage, make, and move your money digitally. It helps you organize your income and expenses, and track monetary advances such as payrolls and invoices. Wave also lets you create professional invoices with its Invoice Software, with some advanced features. Moreover, Wave allows you to scan receipts anytime and anywhere with just your mobile phone.
Features Offered by Wave
Wave allows you to set up credit card payments and switch between automatic and manual payments. Wave sends an invoice or an email receipt accordingly.
You can also customize your invoices for recurring payments and schedule them for any frequency and time.
Wave offers customizable invoice templates to bill your clients for any services and add details for the clients to know what they are paying for.
Build invoices in Google Docs, Sheets, Word, PDF, and Excel format, and useful tips by customers for better interactions with them.
Wave also offers a smart dashboard and unlimited accounting and invoicing and syncing accounting records.
Pros:
User-friendly dashboard
Personalized help from wave advisors
Invoicing, accounting, and banking are 100% free
30-day free trial on paid features
256-bit SSL encryption to ensure safety
iOS and Android apps available
Cons:
The software is glitchy sometimes
PayPal import was abandoned
Advisors’ plans are costly
Lendio
Rating
4.5/5
Best For
Small Businesses Looking for a Bookkeeping Solution
Deployment
Cloud, SaaS, Web-Based, Mobile (Android, iPhone)
Lendio – Cloud-Based Cashflow Software
Lendio is a cloud-based financial software that helps you with accounting, taxation, document preparation, expense tracking and more. Lendio is backed with multiple data centres and encryption, which provides top-notch security to all your financial data. Its beautiful and easy-to-interact user interface has made bookkeeping simpler. The automatic expense tracking feature of Lendio is a differentiating factor from other accounting software, which allows users to track all their expenses automatically.
Features Offered by Lendio
Powerful dashboard equipped with all the financial statistics of business in one single interface. This feature will help you analyze your business condition at a glance.
Hassle-free discount and refund processing feature to speed up your accounting work.
Data security is the key feature of Lendio and it allows you to export all your financial data from the cloud to your desktop in a matter of seconds.
The financial forecasting tool of Lendio helps you to do an in-depth cash flow analysis for better-taking business decisions.
Focus on your business and forget about preparing tax documents because the Lendio tax assist feature will do all this work for you based on your financial reports. The tax estimator of Lendio forecasts the estimated advance tax which you need to pay, this helps you to plan for your tax filing decisions.
Pros:
Completely free to use
Best of small businesses
Automatic expense tracking
Easy-to-use interface
Integration with Gusto for payroll management
Expense auto-categorization
Stripe, PayPal, and Square integration for payments
Small Businesses Looking to Upgrade From Spreadsheets
Deployment
Cloud, SaaS, Web-Based, Mobile (iPhone, iPad)
Zipbooks Free Accounting Software
Another top free open source accounting software designed for small businesses, independent contractors, and accounting professionals to consider is ZipBooks. Zipbooks is a simple and robust accounting software which offers you the tools to enhance your bookkeeping. It allows you to create professional invoices and get paid seamlessly with automated payment reminders, offers you smarter reporting and simple reconciliation with auto-categorization, as well as insights to retain the most loyal and profitable customers.
How To Use ZipBooks
Features Offered by Zipbooks
Store immaculate accounting records and keep track of what you owe and who owes you, and with the help of smart feedback, know how much the revenue actually is.
Zipbooks lets you get paid the way you want. It accepts payments from credit cards to automated billing.
Calculate and record employee payouts, equipment expenses and other costs for running your business seamlessly.
Expense management is made easy with Zipbooks with the help of billable expenses, save receipts, and split categories.
Zipbooks offers data-driven intelligence and smart features to help retain customers and make faster payments.
Pros:
Intelligent feedback to improve day-to-day operations
Transaction tagging for easy accessibility
Simple and modern UI/UX
Free plan is available with basic accounting features
Free trial to test the features of a paid plan
Advanced smart search
Business health score to gauge the business growth
Manager.io Bookkeeping Software for Small Businesses
Manager.io is a free, full-featured accounting software designed for small businesses. This software provides key accounting functions, tax features and data entry automation that simplify accounting processes. This software is simple to use. With no prior knowledge required, you can become familiar with it quickly.
Manegar.io bookkeeping software comes with three editions: desktop edition, cloud edition, and server edition. Cloud edition and server edition are paid ones that store all your data on the cloud which you can access remotely from anywhere. The server edition will provide a dedicated server for your data which you can customize to increase security. But, since we are talking about free software, the desktop edition is best for small businesses for accounting.
Features Offered by Manager.io
The desktop edition provides all the essential features of basic accounting software completely free forever.
The free edition has all the accounting features but still migrating from the desktop edition to the cloud edition or server edition is a game of jokes. You can export all your data easily and import it to the cloud edition.
Dedicated forum to raise your concern related to software issues. The Manegar.io team is eager to solve your problem and release the software update as soon as they fix the problem.
Pros:
Desktop edition is completely free
Bank reconciliation
Multi-currency access
Integrated payroll management
Can easily be set up on your own server
Cons:
The interface is not user friendly
Cloud and server editions cost you higher money
Mobile app is not available
GnuCash
Rating
4.5/5
Best For
Free Accounting Software for small businesses all around the world
Deployment
Desktop(Mac,Windows), On-Premise (Windows,Linux)
GnuCash – Free Accounting Software
GnuCash is a powerful and reliable bookkeeping tool for anyone looking to take control of their finances. It is a free and open-source software package that allows users to manage all their accounting needs. Loaded with essential accounting features like double-entry accounting, profit and loss, and balance sheet, it makes accounting affordable for new businesses.
Graphical report of accounting data empowers users to take a look at business performance. Since it is open-source software, it provides a proper installation guide to configure the software on your system. Windows, Mac OS, and Linux are the operating systems that support the software effectively.
Features offered by Guncash
It has the ability to create custom reports and charts to track financial performance.
Support for double-entry accounting to ensure the accuracy and integrity of financial records.
The free and open-source software that supports multiple platforms, including Windows, macOS, and Linux
Ability to track exchange rates and convert between currencies, and also supports multiple currencies.
Customer and vendor tracking features simplify the task of business management.
Facility to customize the appearance of the interface in multiple ways.
GnuCash Demo
Pros:
Payroll management
Available in 58 different languages
Account reconciliation
Completely free to use
Double-entry accounting system
Stock and mutual fund tracking
Cons:
Confusing UI, not suitable for beginners
Lack of customer support
No mobile app and cloud-based access
CloudBooks
Rating
3.5/5
Best For
Online Invoicing Software for Freelancers and Small Businesses
Deployment
Cloud, SaaS, Web-Based
CloudBooks – Online Invoicing Software
CloudBooks is a free accounting, invoice creation, and management software is trusted by small businesses all around the world. It is ideal for quickly creating and sending invoices online, so you can get paid faster. CloudBooks enables you to monitor time worked, generate invoices and estimates, and receive payments. It helps users manage invoices, expenses, and projects for SMEs as well as freelancers. Moreover, you can send automated payment reminders, accept faster payments, and offer your clients a professional experience like never before.
Features Offered by CloudBooks
Invoicing is made custom with tools which help you to brand, control, and accept recurring payments, all in one place.
CloudBooks’ project management allows you to manage teams and communications, for seamless project management.
Track your employees’ working hours and know where your time is majorly spent.
CloudBooks also allows you to track expenses and ensure they are spent wisely. Also, record your expenses and attach receipts to view later.
Get comprehensive reports for an all-around view of your business with expenses, profit/loss, payments, and invoicing tasks.
Web-Based Accounting Solution for Professionals and Freelancers
Deployment
Cloud, SaaS, Web-Based
Brightbook Accounting Software
Brightbook is an online accounting system designed to fulfill the requirements of freelancers, independent consultants, and small business owners, with great performance for the first two groups. This platform is capable of handling all your basic accounting work and provides many free features — like tools for invoicing, cash flow visibility, reports and financial statements — plus some features that require a one-off payment.
Features Offered by Brightbook
Instant insight to keep your eye on how much you owe and how much you need to settle.
Track your business transaction by importing all the bank statements into your Brightbook account. This feature removes hurdles to looking into your bank statement frequently.
The company claims that data Security is as tight as banking security, and it adds an extra advantage to access the data online, using the Internet.
Pros:
Integration APIs
Multiple user access
Quick Cash Flow insights
Budgeting and forecasting
Free to use
Cons:
Confusing user interface
Only desktop app is available
No third-party integration
Vyapar
Rating
4.4/5
Best For
Small and Medium Indian Business Management
Deployment
Desktop (Windows), On-Premise (Windows), Mobile (Android)
Vyapar Accounting Software
Vyapar is a Business Accounting, Invoicing, and Inventory management app designed for small businesses. It allows you to create invoices and estimates, accept payments, manage your inventory and online store, and keep track of your clients. It is the perfect answer to all of your business accounting needs. Vyapar is the most lucrative accounting software with a bunch of features and has 1 crore+ happy customers. It stands out on top of modern-age accounting software because of its powerful and robust accounting mechanism. Its most highlighted feature is payment reminder which is capable enough to ensure timely payment from clients.
Features Offered by Vyapar
37+ business reports to help you understand the in-depth financial health of your business.
Varieties of themes are available to make the brand image of your business look professional in invoices.
Auto tracking of the due date for every order and sending payment reminders to ensure timely payment
Make your quotations very easily and send them to your potential customers via WhatsApp, email, or SMS in a few clicks. It also allows you to convert your approved quotation into an invoice very efficiently.
Track your consignment just by the details of the delivery challan created by Vyapar. Easily convert your delivery challan into an invoice once it reaches the customer.
Pros:
Offline/Online billing
Intuitive interface
Multiple payment options
Priority support
Professional quotes and estimates
15 days free trial on premium plans
Basic version mobile App is completely free to use
Cons:
Live support is not available
Only works on a single system
Sleek Bill
Rating
4.6/5
Best For
Ideal billing tool for small businesses and freelancers
Deployment
Cloud, SaaS, Web-Based, Desktop (Mac, Windows)
Sleek Bill Accounting Software
Sleek Bill Online is a convenient cloud-based billing solution that you can use wherever you are, no matter what device you’re on. This amazing tool allows for real-time collaboration with team members and allows for the creation of invoices, proformas, quotes, or delivery notes across multiple devices.
Sleek bill bookkeeping software has made invoicing and accounting effortless, even its tagline is “Invoicing made easy”. To remove the complexity of running and managing the business, Sleekbill software offers an easy-to-use interface, beautiful invoices and quick access to reports to cater to small and medium businesses.
Features Offered by Sleek Bill
Proforma invoice maker to show your commitment towards your product to your purchaser.
Create invoices, debit notes, and credit notes seamlessly for a better supplier and customer experience.
Sleek bill uses TSL security encryption to ensure safe data transmission over the internet.
Multiple device accessibility with multiple users to manage the business accounts as a team.
Pros:
Free forever plan is available with limited features
All the data is stored on the cloud
Easy inventory tracking
Professionally designed invoices
TSL security encryption
Cons:
Mobile app is not available
Poor support with no live support
Realbooks
Rating
4.7/5
Best For
In-Depth Financial Analysis
Deployment
Cloud, SaaS, Web-Based, Mobile (Android)
RealBooks, Accounting-Inventory Payroll Software
RealBooks is a comprehensive cloud-based GST and VAT accounting system, designed to make life easier for businesses and accountants alike. It has plenty of features that make bookkeeping and payroll simpler. No matter your business size, its comprehensive feature list and its unique intelligence tools can help increase efficiency at every level.
It offers the best GST compliance feature like GST automated calculation, which do all your GST-related work. Direct integration with the GST portal is a new characteristic that helps in creating e-invoices at no additional cost.
Features Offered by Realbooks
Manage most of your accounting work anytime anywhere with its prominent mobile app. Create and share the invoice at your fingertip.
Single platform to manage accounts for your multiple business locations. All your remote locations can upload the documents and you can manage them from a single location.
Permit users at different business locations to use the software and get a consolidated report of all the branches.
Dropbox facility to upload bills directly to the cloud. It also offers unlimited storage space to ensure paperless accounting.
Fully customizable dashboard to provide strategic insights that are valuable for your business.
Pros:
256-bit encryption for high-level security
Mobile app is available
Free edition with all basic features
Easy compliance management
Automated bank reconciliation
Facility to upload bills via Dropbox
Unlimited users
Excellent support
Cons:
Average user interface
Conclusion
Choosing the right bookkeeping and accounting software is essential for any business, as it helps to keep track of financial transactions and prepare financial reports. There are many free options available, each with their own unique features and capabilities.
Ultimately, the best free bookkeeping and accounting software for your business will depend on your specific needs and budget. It’s important to carefully consider what features and capabilities are most important to your business and choose a software that meets those needs. With the right bookkeeping and accounting software, you can stay organized, on top of your finances, and focused on growing your business.
Bookkeeping software is a tool that helps businesses keep track of their financial transactions, including income, expenses, and profits. It can help with tasks such as invoicing, expense tracking, and generating financial reports.
What are some best accounting software for small businesses?
The best accounting software for small businesses will focus on being easy to use, simple, and low-cost. QuickBooks, FreshBooks, and Wave Accounting are leaders in small business accounting software.
What are the benefits of accounting software?
Some benefits of accounting software includes:
It is time saving free accounting software.
It produces key financial reports right away.
It links up all your financial information.
It ensures accuracy of the data.
It generates financial statements that look professional.
What features should I look for in bookkeeping and accounting software?
The features you should look for in bookkeeping and accounting software will depend on the size and needs of your business. Some common features to consider include invoicing, expense tracking, payroll, project management, double-entry accounting, and support for multiple currencies.
Can I upgrade to a paid version of the bookkeeping and accounting software?
Many free bookkeeping and accounting software options offer the option to upgrade to a paid version, which may offer additional features and support. It’s important to carefully consider your business needs and budget before deciding whether to upgrade.
Is bookkeeping software difficult to use?
Bookkeeping software can vary in terms of complexity and user-friendliness. Some options are designed for small businesses and are easy to use, while others may be more suitable for larger businesses and require more advanced accounting knowledge.
Do I need accounting software for my small business?
Whether or not you need accounting software for your small business depends on the size and complexity of your business, as well as your personal preferences and skills.
Is free accounting software secure?
Free accounting software can be just as secure as paid software, as long as you take appropriate precautions to protect your data including using a strong password, keep your software and operating system up to date, using a firewall and antivirus, etc.
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 Plaid.
The way in which people pay for their day-to-day purchases is changing drastically. We’re approaching a new era where using digital wallets for payment is the mainstream option. Account-based payments are at the heart of this change as more money moves online and more consumers use financial applications and services. Plaid acts as a middleman for your private bank account and the financial mobile apps you use.
In general, users are required to link their bank accounts to utilize the fintech platforms, enable the applications to evaluate financial statements and be able to deposit and withdraw money. The issue has historically been that each bank has a unique, complicated existing system that necessitates app developers to create unique links for every one of them, which may also lead to several security issues. By providing an intermediary connection layer, Plaid addresses this issue by providing a safer way for people to connect their financial accounts to an app.
In 2013, Zach Perret and William Hockey established the American financial services business Plaid. The main offering is a platform that lets customers link their bank accounts to different fintech firms. Customers may connect well-known financial technology apps to their conventional bank accounts using Plaid’s network service programming interface. The company’s platform accesses financial transactions and individual data from large numbers of financial companies, validating and validating it in real-time while enabling clients and companies to use financial technology apps to communicate with their bank accounts, inspect balances, and transfer money.
The Plaid technology platform provides the resources and access required to create a financial system with digital capabilities. Plaid thinks that its platform makes it simpler and safer for developers to create financial services and apps. In the beginning, Plaid offered an API to help developers link customers and financial institutions. Since then, they have used a variety of data analytics technologies in conjunction with their access to data to give further actionable insights.
How Plaid Works
Over 11,000 financial institutions in the US, Canada, and Europe are connected with Plaid. It’s simple to link your bank account to Plaid:
Step 1: You can choose your banking institution from a list when you sign up for an app supported by Plaid. Put in your username and password next.
Step 2: Plaid encrypts the information you’ve decided to share (such as your account balance) and securely sends it to the app you wish to use in a couple of seconds. Your username and password are never shared between the platform and the app.
Step 3: A safe, continuing connection between the app and your bank is being built by the firm in the background.
Plaid – Industry
The term “financial services” refers to the monetary services provided by the banking sector, which comprises a wide range of companies that balance a budget, which includes credit unions, financial institutions, individual asset managers, card companies, insurance providers, accounting firms, consumer finance firms, brokerage firms, investment funds, and some govt-sponsored entities. Several other businesses that depend on credit and loans to function are supported by financial services. Despite mixed findings, the majority of estimates place the financial services industry at 20–25% of the global GDP.
With a compound annual growth rate (CAGR) of 9.7%, the worldwide financial services market increased from $23,319.52 billion in 2021 to $25,588.3 billion in 2022. At least temporarily, the Russia-Ukraine conflict hampered the possibilities of a COVID-19 pandemic-related global economic rebound. Economic sanctions on many nations, a rise in commodity prices, and disruptions in the supply chain as a result of the conflict between these two nations have all had an impact on several markets throughout the world. At a CAGR of 6.9%, the financial services industry is anticipated to reach $33,358.77 billion in 2026.
Plaid – Founders, and Team
Plaid was started in 2012 by Zachary Perret (CEO) and William Hockey in San Francisco, California.
William Hockey & Zachary Perret
Zachary Perret
As Plaid’s co-founder and CEO, Zachary Perret leads the company. He formerly had a consultant position at Bain. He attended Duke University to complete his undergraduate studies.
William Hockey
Plaid’s co-founder, William Hockey also cofounded a company named Column. He was formerly an Associate with Bain & Company. William Hockey attended Emory University for his bachelor’s degree.
Some other team members include :
Helen Min – Head of Marketing
Jean-Denis Greze – Chief Technology Officer
Pouya Fatemi – Head of Business Operations & Finance
Paul Williamson – Head of Sales
Eric Sager – COO
Luke Miner – Head of Data Science
Plaid – Startup Story
Zachary Perret and William Hockey, the founders, really got to know one another while interning at the titan of consulting, Bain & Associates. They clicked right away and started experimenting with other entrepreneurial concepts they may eventually pursue.
They first decided to create a platform for managing and recommending customer finances. Unfortunately, it turned out to be much more difficult than anticipated.
They had to create unique connections with each bank to connect to the financial accounts of the customers they planned to serve. Some of those possible banking partners were still utilizing technology from the 1950s, which complicated matters further (such as COBOL).
The couple saw right away the challenges even the most basic traditional banking system posed. Initially, the internet was not taken into consideration while designing banking; instead, branch-based consumer contact was emphasized. Today, the average user interacts with their bank accounts through more than 15 web applications. Consequently, the team realized that for people to realize the potential of their financial identities fully, the financial services industry needed to be revolutionized.
Plaid started as a consumer app company and invested around six months in creating card-linked financial management software. For instance, Plaid’s restaurant suggestion service used the user’s past spending information to suggest new restaurants. The items were made to persuade customers to cut back on their spending. Then they stopped and wondered if they needed an app that advised users to cut back on their spending. In no way. The company came to the same conclusion after working with a Venmo client. As a result, Plaid changed its direction and is now working to provide a genuinely straightforward and interoperable infrastructure for the financial sector.
Plaid was finally able to obtain its first round of investment as more and more clients were added. Spark Capital and several other investors invested $2.8 million in the business in September 2013.
With the additional funds, Plaid was able to relocate its corporate headquarters from New York to San Francisco, where it had access to a far larger number of software engineers and FinTech firms who were eager to work with it.
In the following three years, Plaid mainly avoided the spotlight and concentrated primarily on enhancing its service and gaining new customers. That changed when it revealed a massive $44 million round headed by Goldman Sachs in June 2016.
Plaid – Name, Logo, and Tagline
Plaid’s tagline says, “The safer way for people to connect financial accounts to an app”
Plaid – Mission, and Vision Statement
Plaid’s mission statement says,
“Plaid is focused on democratizing financial services through technology. We build beautiful consumer experiences, developer-friendly infrastructure, and intelligent tools that give everyone the ability to create amazing products that solve big problems.”
Plaid – Products
With Plaid’s collection of APIs, developers can create fantastic financial solutions with ease.
Assets – Asset and Account Owner Verification API for Underwriting
Auth – Instant bank account verification
Balance – Verify bank account balance
Identity – Verify users’ identities
Identity Verification – Global IDV to ensure KYC compliance
Income – Income and Employment Verification API
Investments – Retrieve liabilities and loan data
Monitor – Easy AML and PEP Compliance
Signal – ACH Risk Assessment and scoring API
Transactions – Access transaction data
Plaid – Business Model
With Plaid’s freemium business model, customers may utilize all of its services for free. With the free plan, potential customers may connect to 100 bank accounts and evaluate sample data in a sandbox environment.
For extra capability, there are two premium subscription plans available. Before we get into these alternatives, it is crucial to realize that the company’s pricing strategy is not meant to pressure a prospect into choosing from a menu of plans. Instead, the strategy permits a brand-new user to become acclimated to the free platform before upgrading to a personal account that is catered to their requirements.
In light of it, the following are the paid programs:
Launch: Users may authorize accounts, track transactions, and view account balances with Launch, a pay-as-you-go option. The price information is available upon request.
Scale: Prices for this more specialized service start at $500 per month and include bulk pricing, specialist premium support, and integration assistance. Customers who sign up for this package get full access to user data about their financial investments, obligations, and possessions. For example, this data may be employed to decide whether to approve or reject a loan application.
Costs per request: Plaid charges a certain amount for each request. The user must ensure that the receiving account has enough funds, to begin with if their financial app allows account transfers. To enable the transfer and generate revenue for the app company, Plaid will review the member’s account.
Following the consumer’s selection of a paid plan, the following costs could be assessed:
One-time fees: Fees are assessed for services that must be completed just once. For instance, a one-time fee must be paid each time a personal financial app accepts a user account and verifies their identity.
Membership dues: The same personal finance program would also like to know how its customers are spending their money. The company does this by utilizing Plaid’s real-time account balance monitoring tool. Because this is a frequent action, the expense is charged as a recurring subscription cost. Plaid gives volume discounts and assesses a per-connection, per-month fee for this service.
Plaid – Funding, and Investors
Date
Round
Amount
Lead Investors
Aug 25, 2021
Series D
–
–
Aug 17, 2021
Series D
–
JP Morgan Private Capital and AmEx
Apr 7, 2021
Series D
$425M
Altimeter Capital
Dec 11, 2018
Series C
$250M
Index Ventures, Kleiner Perkins
Jun 19, 2016
Series B
$44M
Goldman Sachs Investment Partners
Nov 15, 2014
Series A
$12.5M
New Enterprise Associates, Spark Capital
Sep 19, 2013
Seed Round
$2.8M
Spark Capital
Plaid – Investments
Date
Organization Name
Round
Amount
Jun 8, 2022
Codat
Series C
$100M
May 4, 2022
Sensible Weather
Series A
$12M
Plaid – Acquisitions
Acquiree Name
About Acquiree
Date
Amount
Cognito
Cognito develops an identity verification and compliance platform for businesses.
Jan 20, 2022
$250M
Flannel
Flannel renders brand marketing, corporate identity, graphic design, communication, application development and web services.
Jun 15, 2021
–
Quovo
Quovo provides account aggregation and data analytics technology for finance.
Jan 8, 2019
–
Plaid – Competitors
The top competitors of Plaid are :
Codat
Stripe Connect
MX
Lightico
Envestnet Yodlee
Flinks
IntSig OCR Solutions
TrueLayer
Plaid – Challenges Faced
Zach Perret, the company’s founder, claims that paper is their greatest opponent and that digitizing data is their biggest challenge. The first line of defense is the availability of precise and understandable data. Analytics and other value-added services will now be the focal point of the conflict. As a result, Plaid gave data engineers priority before giving data scientists any thought.
If there is anything, it is stated that security will be the entity that keeps Plaid’s employees up at night. Data security and privacy are essential since they are in charge of millions of people’s financial information. In order to accomplish this, Plaid incorporates a tiny infrastructure element into each application, which collects user credentials and tokenizes them on the user’s device. By sending this tokenized data via its system, it then makes sure that the original data is not made public. You can never stop thinking excessively about security, according to the designer.
Plaid – Future Plans
Plaid set a target last year to dedicate 75% of our traffic to APIs by the end of 2021. One of the company’s major aims is to provide fair, dependable, and secure API-based data sharing as the sector accelerates its transition to a completely digital financial system.
The recent partnerships between Plaid and other companies show the industry’s commitment to building a better ecosystem that allows users more control and choice over where and how their information is shared across digital tools. With projects like Plaid Portal, a tool (now in beta) that allows users to examine and manage their account connections, helping to guarantee that they retain control over where their data is shared, innovation will continue in this area.
In significant ways, Plaid is assisting the industry in meeting this historically high level of consumer demand for digital banking. First, Plaid can integrate to provide more dependable data connectivity on behalf of the company’s shared customers and the developers constructing its network for banks with the capacity to implement an API-based data interchange. The sector must continue to adopt cutting-edge digital solutions that provide customers easy access to their financial information so they may better manage their daily lives as the globe gets closer to an open finance future.
FAQs
Who is the CEO of Plaid?
Zach Perret is CEO of Plaid.
Where is the Headquarters of Plaid?
The headquarters of Plaid is in San Francisco, California.
As we’re now in the digital age, it’s essential to keep up with the modern times. Digital marketing is surging globally, and it’s hard to go online without seeing different digital marketing campaigns.
A landing page is a standalone web page, created specifically for the purpose of a marketing or advertising campaign. It is designed to direct the visitor to take a specific action, such as making a purchase or filling out a form for more information.
In digital marketing, landing pages are an important tool for converting website visitors into leads or customers. They typically have a specific focus or theme and are designed to be simple and clear, with a strong call to action.
Landing pages have become one integral part of digital marketing campaigns, and if you are an expert digital marketer, you know how important startup landing pages can be, and how much they can help in boosting a digital campaign. As important and effective, as they can be, one must be careful while building a landing page. A good landing page typically has a specific focus or theme and is designed to be simple and clear, with strong CTAs (Calls to Action) that help convert website visitors into leads or customers.
Before diving deep into the tools used for building landing pages, let us first talk about what landing pages are. Landing pages, by definition, are standalone pages that are built for advertising or a marketing campaign. Landing pages are essential components of a successful website. They provide viewers with the first glimpse of your company and often serve as the primary source for conversions. Landing pages are important for capturing leads, explaining product features, and describing the key advantages of using products or services. For any business, creating an effective landing page should be a top priority. With the right strategies in place, businesses can use well-designed landing pages to drive relevant traffic and convert visitors into customers or at least newsletter signups. Creating a clear call-to-action on the landing page and emphasizing visuals is critical; it’s also important to make sure the message resonates with conversion goals.
There are two different types of Landing pages, namely Lead Generation Landing pages and Clickthrough Landing pages.
Lead Generation Landing pages: These are mostly used by B2B marketing companies to collect the user data such as email and names, which can be further used to build a list of emails as their prospective clients.
Clickthrough pages: These pages are much more direct as their main objective is to sell a product or a subscription-based service, and these pages are mostly used by E-Commerce websites and SaaS services.
Key elements that make up an effective landing page
5 Crucial Things Every Landing Page Should Have
A clear and specific call to action: The main goal of a landing page is to get the visitor to take a specific action, such as filling out a form or making a purchase. The call to action should be clear and prominent on the page.
A compelling headline: The headline of the landing page should grab the visitor’s attention and clearly communicate the value or benefit of the product or service being offered.
Relevant and compelling content: The content of the landing page should be relevant to the visitor and should clearly communicate the benefits and value of the product or service being offered.
A visually appealing design: The design of the landing page should be visually appealing and should effectively communicate the message and value of the product or service being offered.
Social proof: Including testimonials, reviews, or other forms of social proof can help build trust and credibility with the visitor and increase the chances of conversion.
Steps to Create an Impressive Landing Page
Having an excellent landing page is vital to ensure that consumers receive the right information quickly when exploring potential business opportunities online. Here are a few essential steps to create an impressive landing page:
1. A good landing page should have a clear and concise headline that tells visitors what they can expect to find on the page.
2. The headline should be followed by a short and descriptive subheadline that elaborates on the main headline.
3. The page should then have a strong and attention-grabbing image that helps to visually communicate the message of the page.
4. The copy on the page should be well-written and free of grammar or spelling errors. It should also be persuasive and convince the reader to take action.
5. The page should have a clear call-to-action (CTA) that tells the reader what they need to do next. The CTA should be prominently displayed and easy to find.
6. The page should also have social proof in the form of testimonials or customer reviews to show that others have had success with the product or service being offered.
7. The page should be designed in a way that is visually appealing and easy to navigate. All of the elements on the page should be placed in an intuitive way.
8. The page should load quickly and be optimized for mobile devices
Top Landing Page Builders
There are several landing page software tools that are used by businesses for their digital marketing campaigns. In this article, we will talk about the top 10 landing page builders that help elevate website conversions in 2023. So, let’s take a look at them.
HubSpot
Rating
4.4/5
Price Range in $ (Monthly)
14 to 3600 for Marketing, 45 to 1200 for Sales, 45 to 1200 for Customer Service, 23 to 1200 for CMS, and 45 to 2000 for Operations.
HubSpot – landing page builder
HubSpot is an all-in-one software platform that helps businesses with web hosting, analytics, content optimization, landing page building, and more. It allows users to create a landing page quickly and easily. With embedded forms and automation systems, it allows for an efficient way to collect customer data and convert leads into customers or sales with ease. Hubspot’s landing page builder gives you the tools you need to create effective landing pages that keep your target audience engaged, whether you use one of the many customizable templates or design and code each landing page from scratch using their innovative drag-and-drop tools. They also offer other features like A/B testing to help maximize potential conversions from landing pages.
Features offered by Hubspot:
Hubspot is an international leader in marketing automation and offers valuable services such as analytics, landing page builders, SEO optimization, and content creation.
The landing page building feature is especially beneficial for businesses of all sizes, as it allows users to build stunning landing pages for lead generation within minutes.
It’s incredibly user-friendly due to its drag-and-drop interface, customizable templates, photo library, and a plethora of other features that help people create websites that are attractive and optimized for conversions.
All landing pages can also be modified to look good across multiple devices such as PC/browser or mobile device.
Hubspot also offers to track and report on landing page performance so businesses have detailed insights on what works and what doesn’t.
Pros:
One of the primary pros of using HubSpot is its landing page builder, which is designed to make customizing landing pages easy and efficient.
This landing page builder allows users to quickly and easily create their desired landing page without the need for any coding knowledge or experience.
It includes multiple options, such as a library of free page templates and layouts that are easily customizable.
It provides an intuitive drag-and-drop interface so users can move elements around on the landing page as they desire.
Optimizing landing pages with HubSpot’s landing page builder is an effective way to improve organic search ranking since this platform is both small-business friendly and SEO-friendly.
Cons:
If you need customization of more detailed landing pages with specific technology stacks or larger landing pages designed for search engine optimization purposes, Hubspot may not be the right option.
While there is a large variety of templates available within Hubspot, they could look somewhat generic compared to landing pages built outside of the platform.
Hubspot is supported by multiple third-party apps and integrations, some users may find themselves overwhelmed by the vast number of choices available and feel constrained by what their subscription plan allows them access to.
Pricing Model for HubSpot
Software
Starter
Professional
Enterprise
Marketing
Costs $50 per month, and offers tools such as landing pages, email marketing, and ad retargeting
Costs $890 per month and offers marketing automation, SEO recommendations, and custom reports with campaign reporting
Costs $3200 per month and offers services such as team management and advanced reporting with predictive leads
CRM and Sales
Costs $50 per month and comes with customizable sales properties, meeting scheduling, and other basic features
Costs $500 per month and offers sales analytics, custom reporting, eSignature, and some personalization features
Costs $1200 per month and offers webhooks, custom objects, scalability, and reporting dashboard
Customer Service
Costs $50 per month and comes with live chats, conversational bots, and simple automation
Costs $400 per month and comes with ticket status and routing, and offers better customer service with custom reporting and an insight dashboard
Costs $1200 per month and helps users manage multiple teams’ slack integration along with webhooks
Unbounce
Rating
4.4/5
Price Range in $ (Monthly)
90 to 575
Unbounce – best landing page builder
Unbounce is a landing page builder with an easy-to-use drag-and-drop interface, that helps you seamlessly build landing pages, lead marketing campaigns for eCommerce, and run social ads, and email marketing. It helps users build one goal-focused and dedicated landing page, without an ounce of coding, to convert traffic into revenue.
With over 100 different landing page templates to choose from and an easy drag-and-drop interface, Unbounce landing page software offers to build an interactive landing page with customizable JavaScript and CSS, which can be used to make the page all the more responsive and fit for both, a mobile device or a desktop. Also, the built-in AI support helps you test your landing page design to see exactly how it works and what else is needed.
Unbounce Landing page Tutorial: An Absolute Beginners Guide
Features Offered by Unbounce
Seamless account management allows users to deal with multiple clients, and store records efficiently.
The single sign-on (SSO) feature makes it easy to manage usernames and permissions, while you can also choose who gets access.
Unbounce offers the re-usability of templates which works effectively while also allowing you to share templates among other Unbounce users.
Shaped to load pages quicker than usual, Unbounce pages are designed to load swiftly, without any time delay.
With utmost care for privacy, the pages also display a green padlock on the URL bar, assuring the user of complete privacy.
Pros
It provides an intuitive platform that makes it easy to build landing pages quickly and without any coding knowledge needed.
This revolutionary drag-and-drop landing page builder also allows non-technical users to customize landing pages without any assistance, making Unbounce a great time saver.
Another massive benefit is the wide range of features that allow for deep customization and integration with third party apps like MailChimp, SalesForce, and more.
The analytics feature is another must have for companies looking to track performance over time so they make the most of their investment.
All in all, Unbounce presents an easy-to-use landing page solution with plenty of custom options that can help businesses get up and running fast with short-term success and long-term growth potential.
Cons
One of the main cons of using Unbounce landing page builder is the cost. It is not an inexpensive service, and some businesses may find it too expensive for their budget.
Additionally, because it offers a lot of features, there is a steep learning curve for those who are new to landing page building and web design.
These features also require significant technical know-how from experienced users.
The A/B testing feature is quite basic and customer service is extremely poor.
The pricing model for Unbounce
Launch plan
Optimize plan
Accelerate plan
Scale plan
Costs $81 per month and is built for small businesses starting with digital marketing and landing pages
Costs $122 per month and is built for businesses ready to optimize landing pages
Costs $203 per month and is built for fast-growing businesses that need to boost traffic
Costs $300 per month and is built for huge enterprises looking for greater traffic and conversion rate
Offers up to 20000 visitors and 500 conversions with 1 connected domain
Offers up to 30000 visitors and 1000 conversions with 1 connected domain
Offers up to 50000 visitors and 2500 conversions with 7 connected domain
Offers up to 50000 visitors and 3000 conversions with 15 connected domain
Instapage
Rating
4.3/5
Price Range in $ (Monthly)
Starts from 199 and has Versatile prices.
Instapage landing page builder
Instapage is more than just a landing page software tool; it is an advertising conversion cloud, with the ability to automate a personalized post-click page creation through conversion intelligence. Instapage helps users to integrate post-click landing pages and ads through marketing campaign visualization, which helps create a personalized experience for the customer.
Furthermore, Instablocks offers its users a variety of page blocks comprising CTA forms, overviews, and more so you can manipulate the content of your page, globally. The conversion-optimized templates help you pump up the conversion rate, and with the availability of quick mobile pages, it reduces bounce rates and does not let mobile browsing hinder your marketing campaign.
Features Offered by Instapage
Offers personalized experience to users with the use of specific keywords to maximize conversions.
Allows users to feature their own images with an Image Asset Manager.
Instapage allows users to add custom coding through JavaScript, CSS, and other scripts, to enhance the functionality of the page.
Modern design features such as Parallax scrolling also come in handy in the design of a landing page.
Overwrite protection makes sure two different users working on the same template do not make a fuss.
Pros
It offers an array of tools for personalizing landing pages for an optimal user experience and greater conversions, features A/B testing to compare different landing page versions and measure performance, and gives users plenty of customization options to be creative in designing their landing pages.
Additionally, the landing pages are mobile-ready right out of the box since they are automatically optimized for all device types so that no one misses out on crucial information while browsing your website.
With Instapage, you can easily create beautiful landing pages with lots of great features — making it one of the best landing page building options available on the market.
Cons
It can be difficult for beginner website builders to learn how to navigate Instapage due to its complexity and high price point.
Since Instapage is marketed for landing pages, it lacks the complexities necessary for building full-scale e-commerce webspaces.
It probably isn’t the ideal solution if you are looking to build a fully integrated webstore; instead, you might try researching another landing page builder better suited for your needs.
The pricing model for Instapage
Business plan
Enterprise plan
Costs $149 per month
Cost is variable depending on your usage and needs
Offers features such as no conversion limit, post-click score conversion analytics, and many more features
All features of the Business plan with 1:1-ad-to-page personalization, visual collaboration, and editable blocks
Integrations for Zapier, HubSpot, Salesforce, and Marketo
All integrations offered by Business Plan along with page migration and customer manager
Leadpages
Rating
4.2/5
Price Range in $ (Monthly)
Starts from 42
Leadpages landing page software tool
Leadpages is one of the first choices for small businesses and online enterprises, that are trying to build a brand and make an online presence. It lets users build websites, landing pages, pop-up alerts, and much more without using any code. Leadpages helps you choose from over 200 different templates to create websites and landing pages with a high conversion rate, connect CRM and email, and build traffic with leads, guidance, and increase conversions.
Leadpages has a simple and seamless set of tools making it effortless to create, update and deploy your landing pages, quick and accurate, ridding you of extra costs of freelancers and time delays. You also get to make mobile responsive pages and deploy them in a matter of minutes, using state-of-the-art templates and an easy drag-and-drop interface.
Features Offered by Leadpages
Leadpages allows you to view your page across different screen sizes hence, identifying if something needs to be rectified.
Hidden form fields allow you to pass data to your CRM, through prepopulated fields.
Leadpages makes a backup of all opt-in data in case any of the integrations experience downtime.
Offers checkout with Stripe, allowing users to accept payments and deliver products from any page.
Offers an image library where you can add and remove images to use in your page designs, the way you deem fit.
Pros
Its intuitive UI and drag-and-drop feature make landing page creation a breeze even for novice users.
Leadpages offers multiple pre-made templates to reduce design time and flaunt your content on professionally designed landing pages.
It integrates with over 500 services, so you can connect it with your email marketing service or landing page tracking system.
You can quickly design web forms and calculate A/B testing to measure and optimize landing page success.
These features help businesses skyrocket their conversion rate, bringing in more leads and sales over time.
Cons
One issue with Leadpages is that its landing pages are very limited in terms of design and customizability.
Additionally, because Leadpages is a third-party service, there may be delayed support from the company if any maintenance issues or bugs arise.
Businesses creating landing pages must also keep in mind that using Leadpages can become expensive over time due to the amount of landing pages needed for campaigns and marketing efforts.
The pricing model for Leadpages
Advanced plan
Pro plan
Standard plan
Costs $299 per month billed annually
Costs $74 per month billed annually
Costs $37 per month billed annually
Can be used to build up to 50 sites and including landing pages, traffic leads, and hosting
Can be used to build up to 3 sites and including landing pages, traffic leads, and hosting
Can be used to build up to 1 site and include landing pages, traffic leads, and hosting
Priority phone tech support with over 40 integrations and online sales and payment
Chat and email tech support with over 40 standard integrations and email trigger links
Email tech support with no email triggers or online sales and payments
GetResponse
Rating
4.2/5
Price Range in $ (Monthly)
Starts from 13
GetResponse – Top Landing Page Builder
GetResponse helps you to create high-converting, mobile-responsive landing pages, but it’s also a digital marketing platform used for sending emails, creating web and startup landing pages, and automating marketing. It offers to grow your audience with lead generation and targeted online communication that helps users boost their conversion rates. Moreover, GetResponse helps you deploy your skillset into an asset that you can use to grow revenue with about a thousand daily webinars and deliver an amazing customer experience to create a loyal following.
Whether you wish to propel your business online, or you are in need of personalized tools to cater to your needs for scalability, GetResponse helps you communicate with your potential clients and increase return on investment. Moreover, with the help of sales funnels, popup forms, and marketing automation, GetResponse helps in online marketing and generating revenue from anywhere in the world.
How to Create a Landing Page from Scratch in GetResponse
Features Offered by GetResponse
With images from Shutterstock and gifs from Giphy, GetResponse helps create mobile-responsive pages for a high conversion rate.
Popup forms for signups and data collection, GetResponse helps you send targeted emails to prospective clients and customers.
Ready-made sales funnel helps you display your products and services to your customers, helping you sell more.
Drag and drop interface helps customize your page, so it suits both, the desktop view as well as the mobile device view.
GetResponse also offers insights into the pages along with conversion rate and other details. This allows you to choose the best designs and achieve high conversion rates.
Pros
It offers powerful integrations with online store builders and social media platforms, making it easier than ever to have multiple touchpoints with your customers.
GetResponse also provides world-class analytics tools, so marketers can see exactly how their campaigns are doing, as well as access to cutting-edge automation capabilities designed to maximize ROI with minimal time investment.
They offer responsive customer support when you need help. With its comprehensive suite of features, GetResponse makes it easy for businesses of all sizes to take full advantage of the power of email marketing.
Cons
One major issue is that their landing page builder is not as feature-rich as similar platforms on the market.
While GetResponse landing pages look great, they lack important features such as the ability to split test landing pages or ads. This makes it difficult to accurately measure ROI or use A/B testing to optimize campaigns.
GetResponse’s landing pages can only link to external URLs rather than being able to contain internal content, which makes for an awkward user experience when transitioning from the landing page to the checkout page.
GetResponse may be good for basic marketing tasks like email campaigns, but lacks features that are necessary for more advanced customers looking to scale up their businesses.
The pricing model for GetResponse
Basic plan
Plus plan
Professional plan
Max plan
Costs $19 per month and is used for sending emails and building a contact base
Costs $59 per month and is used for generating leads
Costs $119 per month and is used for marketing automation and integrations
Used for evolving marketing strategy and comes with a variable pricing
Comes with tools for email marketing, unlimited marketing pages, templates, and lead funds
Offers everything that comes with a basic plan along with automation builder and sales and webinar funnels
Offers everything that comes with a plus plan along with unlimited sales and webinar funnels and work together for 5 users
Offers everything that comes with a professional plan along with dedicated support and IP and Microsoft Dynamic Integration
ConvertKit
Rating
4.4/5
Price Range in $ (Monthly)
Starts from 15
Convertkit – landing page builder
Convertkit is an all-in-one email marketing software specially designed for bloggers and small businesses. Whether you’re a solo entrepreneur or a business team, this platform helps to efficiently manage all your email automation needs in one place. Features such as landing page builder, automation builder, reporting dashboard, and rich segmentation allow users to create fully customized landing pages and automate their entire subscriber journey. Convertkit makes it easy to create stunning landing pages and publications quickly and optimize them for better performance. With its drag-and-drop page builder, customizable popup forms, landing page templates, and automatic publishing capabilities of landing pages, Convertkit will take your website visitors to the next level of engagement. It supports A/B testing with its optimization suite so that users can track the conversion rates of landing pages with ease.
Features offered by Convertkit
It has powerful automation tools designed specifically for content creators and bloggers, allowing them to create landing pages and build segmented email lists quickly and easily.
Automation can be daunting at first, but ConvertKit simplifies the process with helpful tools like landing page builder that enable users to quickly construct highly customizable landing pages without the need for complex skills.
The platform offers direct integration with popular payment gateways, including Stripe and PayPal, making it easier than ever to build landing pages and capture subscribers that are ready to buy.
With comprehensive analytics all in one place, ConvertKit provides the perfect platform for managing email campaigns of any size.
Pros
One of the most attractive features is the landing page builder which helps make any promotional activities easier to execute.
This landing page builder has a simple user interface and allows for customizable designs that enable users to customize their landing pages according to the needs of their campaigns.
The amazing flexibility of the landing page builder along with other features such as audience segmentation, automatic emails, analytics, and automation workflows provide Convertkit users with everything they need to build their business.
Cons
One such drawback is the landing page builder which, while easy to use and intuitive, lacks some of the customization options of other solutions on the market.
It can be difficult to create high-converting landing pages because there are limited templates and design options available.
Testing landing pages and optimizing them for conversions can be challenging due to the lack of features in Convertkit’s landing page building suite.
The pricing model for Convertkit
Creator plan
Creator Pro plan
Costs $15/month, For up to 300 subscribers
Costs $29/month, For up to 300 subscribers
Best for growing creators automating their work
Best for established creators scaling their business
Swipe Pages
Rating
4.8/5
Price Range in $ (Monthly)
Starts from 39
Creating Landing Page with Swipe Pages
Swipe Pages is a landing page builder designed to help businesses create their desired web presence. With a landing page builder, they can make their website experience more user-friendly, modern, and engaging. Swipe Pages have proven to be incredibly effective at allowing businesses to acquire customers quickly. To sum up, Swipe Pages are an efficient way for businesses to easily capture leads and maximize user engagement with landing page builders.
Features offered by Swipe Pages
Swipe Pages offer an attractive landing page-building service that provides users with an intuitive and easy-to-manage platform.
The builder has a simple drag-and-drop interface and comes with a variety of templates, fonts, illustrations, hero images, video blocks, and more to choose from.
By using Swipe Pages’ landing page creator you can quickly create landing pages that resonate with your audience while allowing you to customize the look and feel of your landing page without the need for coding skills.
With the landing page included in the Swipe Pages suite of services, you can easily set up automated marketing campaigns, split test different landing pages or start collecting leads for your business.
Pros
Swipe Pages are incredibly useful landing page builders that make creating web pages simple and straightforward.
Not only are they cost-efficient, but they also provide users with impressive design templates that can be customized quickly and easily.
They allow entrepreneurs to design landing pages with maximum conversions in the shortest possible time – no coding required!
Swipe Pages also feature analytics tools so users can examine user behavior which allows them to optimize their landing pages for the best results in terms of sales and returns.
Swipe Pages support error-free A/B testing, allowing entrepreneurs to compare landing page variants for optimal performance.
Cons
As the builder is limited in its design options, landing pages often end up looking very similar or generic; this can have a negative impact on conversions as it may not reflect the unique attributes of your product or service.
Because Swipe Pages builders lack flexibility and customization, you may find yourself unable to make them fit precisely with your brand’s message or visual aesthetic.
It’s important to note that editing these landing pages can be tricky since there is no code-level access – meaning any changes you do make are limited by the builder’s capabilities.
The pricing model for Swipe Pages
Startup plan
Marketer plan
Agency plan
Costs $39/month
Costs $89/month
Costs $199/month
Offer 1 Custom Domain, 20,000 Traffic, Analytics & Conversion Tracking and more
Offer 5 Custom Domains, 50,000 Traffic, Smart Pages, 5 Client Subaccounts, and more
Offer Unlimited Custom Domains, 500,000 Traffic, Smart Pages, Unlimited Client Subaccounts, and more
ClickFunnels
Rating
4.7/5
Price Range in $ (Monthly)
Starts from 147
ClickFunnels – online landing page builder
ClickFunnels is an online landing page builder that simplifies the process of creating websites, making them easier than ever. With drag-and-drop technology, point-and-click design, and automated tools, it provides users with the freedom to customize landing pages that are tailored to their business needs. The launch of this program has made it easier for those who may not necessarily have coding skills to create effective websites quickly and easily. Beyond landing pages, ClickFunnels also offers funnel-building and hosting solutions. Whether you’re an online store or a service provider, there’s no limit to the ways you can use Clickfunnels for your business needs.
Features offered by ClickFunnels
ClickFunnels is an intuitive and powerful landing page builder that provides small-business owners with the tools they need to create high-quality landing pages quickly and easily.
With ClickFunnels, users have access to templates designed to look professional while making it easy to customize how their page looks and feels.
These landing pages can be created in minutes instead of hours or days. Other features include drag-and-drop elements, A/B testing capabilities, automation features, and even eCommerce setup assistance.
How to Create a Landing Page With ClickFunnels
Pros
ClickFunnels is an incredibly useful tool for businesses looking to drive sales and improve their visibility on the web. It’s an all-in-one suite of products that includes a landing page builder, funnel templates, email autoresponders, analytics, and more.
ClickFunnels allows businesses to quickly create landing pages and other key elements for an optimized online presence.
It automatically builds a sales funnel meaning less work for marketers who are already strapped for time.
With its intuitive and user-friendly interface, even those with no coding experience can create engaging pages within a matter of minutes.
It’s accompanied by great customer service so users have helped every step of the way.
ClickFunnels offers businesses a simple yet powerful platform to build beautiful landing pages and generate leads without having deep technical knowledge.
Cons
There are some drawbacks to using this builder, such as the high monthly costs associated with certain subscription packages.
The builder can be complicated and overwhelming for those who are new to website development, making it difficult for beginners to navigate.
There is also a limited range of customization options available which can be limiting for experienced web designers who may want more complex landing pages.
ClickFunnels is a useful landing page-building program but comes with its downsides that one should consider before subscribing.
The pricing model for ClickFunnels
Basic plan
Pro plan
Costs $147/month
Costs $197/month
Offer 1 Website, 20 Funnels, Unlimited Workflows, Basic Analytics, and more
Offer 1 Website, 100 Funnels, Unlimited Workflows, Basic Analytics, Liquid Theme Editor, and more
Landingi
Rating
4.4/5
Price Range in $ (Monthly)
Starts from 29
Landingi – Top Landing Page Builder
Landingi is an intuitive landing page builder that promotes customization and ease of use for all types of users. With its straightforward drag-and-drop interface, Landingi helps you quickly create landing pages that make an impression. You can customize the landing pages with high-converting widgets like countdown timers and surveys, or add layers of complexity with CSS code editing. It’s even compatible with marketing automation tools like MailChimp and Active Campaign so that you can start delivering tailored messages right away. Landingi also offers templates so you can build upon existing landing page ideas, making it easy to get started building your perfect web page in no time.
Features offered by Landingi
Landingi is an efficient landing page builder that can help anyone create captivating landing pages in a snap.
Its no-coding feature ensures that you don’t need to be a developer to create stunning landing pages which makes it perfect for everyone, especially non-technical folk.
Landingi offers plenty of customizable page templates and subscription optimization features that are designed to deliver positive ROI and maximum conversions.
All landing pages created with Landingi come with detailed performance analytics as well as email automation features and A/B testing options.
Pros
Landingi is a landing page builder that makes it simple to create stunning, high-converting landing pages that increase conversions and generate leads.
With an easy-to-use interface and drag-and-drop features, landing pages can be designed quickly without having any technical coding knowledge.
Landingi has many advanced features that make it suitable for marketers with all levels of expertise: from basic functionalities like A/B testing, to more complex options like creating pop-ups or integrating with eCommerce APIs.
The platform offers enough analytic data so users can track landing page performance and identify areas for improvement.
Cons
Its landing pages lack customization options and can’t be integrated with other applications or platforms.
The landing page designs are limited in number and none of them offer visually striking elements that would help set them apart from the competition.
Landingi falls short when it comes to performance optimization—the platform does not support A/B testing nor does it have analytics capabilities to measure landing page performance.
Its platform complexity makes Landingi less beginner-friendly compared to alternative landing page builders.
The pricing model for Landingi
Core plan
Create plan
Automate plan
Agency plan
Costs $29/month
Costs $65/month
Costs $89/month
Costs $109/month
Best for starters looking for an easy-to-use and responsive editor.
Best for business owners and smaller companies looking to build high-converting campaigns that increase sales
Best for marketing pros to automate processes and boost conversions at all levels of the customer journey
Best for agencies, integrators, and resellers to launch offers and scale customer service
Lander
Rating
3.0/5
Price Range in $ (Monthly)
Starts from 49
Lander – landing page building platform
Lander is a landing page building platform that makes creating effective landing pages incredibly simple. With its intuitive drag-and-drop interface and customizable templates, Lander has revolutionized the landing page building experience. And with features like A/B testing, heatmaps, and mobile optimization- it’s never been easier to create stunning landing pages that are guaranteed to capture the attention of your audience. Whether you’re a marketer, influencer, or business owner, Lander has something for everyone!
Features offered by Lander
Lander is a landing page builder that offers users the ability to quickly and easily create landing pages with modern-day design sensibilities.
From its intuitive drag-and-drop interface to templates and customizable functionality, Lander is a powerful option for creating landing pages in minutes.
With layouts optimized for different devices and a plethora of features such as A/B testing, automated emails, and more, it makes it easy for marketers to get the most out of their landing pages.
It also provides designers with several page elements such as video backgrounds and custom fonts that can give their web pages that extra “wow” factor.
Pros
Building landing pages with Lander can be extremely beneficial to businesses and entrepreneurs alike.
Not only is it incredibly easy to use, but it also offers a wide range of attractive templates that don’t require any coding knowledge.
Users can also customize each landing page with images, colors, fonts, and HTML code to fit their brand needs.
It even provides useful analytics so businesses can track the success of their landing page campaigns.
Lander’s landing page builder is a great tool for those looking to build professional landing pages without spending money on a web designer or spending a lot of time learning how to code.
Cons
One of the biggest cons of using Lander landing page builder is that it has limited design templates. This can be restrictive for those looking to create landing pages with more customized visuals and layouts, as they are often forced to settle with one of the templates even if it doesn’t suit their needs perfectly.
The customer support provided by Lander leaves something to be desired.
Though help is available, response times tend to be slow compared to other landing page builders, which can make troubleshooting difficult for users who require assistance quickly.
The pricing model for Lander
Basic plan
Professional plan
Costs $49/month
Costs $99/month
Includes A/B Testing, Facebook Landing Pages, Auto-Fill Forms, Email Support and more.
Includes Dynamic Text Replacement, Facebook Landing Pages, Custom Code Editing, Technical Support, Chat & Email Support and more.
Conclusion
The landing page helps you in boosting your ad campaign. In fact, it is an important step in a digital marketing campaign. Landing page builders help in building the perfect web page that will help your potential customer or customers to take an action by buying the products of your business. With the increase in digital marketing, landing page builder tools are also getting popular.
FAQs
What is a landing page?
Landing pages, by definition, are web pages that are built for advertising or a marketing campaign.
What are the two different types of Landing pages?
The two different types of landing pages are lead-generation landing pages and Clickthrough landing pages.
What are the top landing page builders to use in 2023?
Some of the popular landing page builders to use in 2023 are listed below:
HubSpot
Unbounce
Instapage
Leadpages
GetResponse
What is a landing page builder?
A landing page builder is a tool that allows users to create and design a landing page without the need for coding or design skills.
How many hours does it take to create a landing page?
On average, it may take anywhere from a few hours to several days to create a landing page, depending on the complexity of the design, the amount of content that needs to be included, and the level of customization required.
What is the purpose of creating a landing page?
The purpose of creating a landing page is to drive targeted traffic to a specific webpage and convert that traffic into leads or customers.
What are the uses of the landing page?
Some common uses for landing pages include:
Generating leads
Promoting a product or service
Running a promotion or contest
Facilitating event registration
What are the essential elements of the landing page?
The essential elements of a landing page are as follows:
Clear unique selling proposition (USP)
Engaging hero shot.
Compelling benefits.
Inspirational social proof.
Strong call to action (CTA)
Do I need to have design or coding skills to use a landing page builder software tool?
No, most landing page builders offer a user-friendly interface and pre-designed templates that allow you to create and customize landing pages without any design or coding knowledge.
Can I A/B test my landing pages with a landing page builder?
Yes, many landing page builders offer A/B testing features that allow you to test different versions of your landing page and see which one performs better.
As per the report by Statista, the Global Freelance market is around 1.5 trillion dollars, which is growing at the rate of 15% CAGR every year. In the USA alone, there are 70.4 million freelancers, and this number is going to reach 90.1 million by 2028. You might be amazed but around 54% of Google’s entire workforce are freelancers and only 46% are daily working employees.
These stats are clearly indicating the significance of freelancers in the company. The freelance market is growing rapidly and companies are considering freelancers to work for them, despite hiring a full-time employee.
So if you also want to hire somebody to make your work done, but are confused between hiring a freelancer or a design agency, then this article is for you. Here you will get a quick comparison between a freelancer and a design agency based on the parameters of Cost, efficiency, project size, and time.
After reading the whole article, you can easily make the decision to choose the best option based on your requirements.
Difference Between a Freelancer and a Design Agency
Freelancers are like a one-man army, they are individuals with certain skills and capabilities that they provide to another person. There are several niches in which a person can be skilled. Some of them are Video editing, Photography, Copywriting, Web designing, Graphic designing, and the list goes on.
While on the other hand, a Design Agency is a group of individuals having skills that they render to other people. They are professionals in their niches and offer varieties of services under one roof. If I want to design a logo, I can hire a freelancer which will do that for me, but if I hire a design agency, then it will handle all my design-related stuff including designing a logo, graphics, or even web designing.
Since both options are great to consider, it totally depends on your requirement and some other factors. I’ve elaborated on these two, to help you decide which one is better for you.
U.S. Workers Doing Freelance Work
Key Factors to Consider Before Choosing Between a Freelancer or a Design Agency
Cost of Project
Cost is the most important factor that significantly influences the decision. As a client, you have your budget and most likely you want to make your work done within the limit of budget. So if your budget is low then which one you should consider and if the budget is high then which one? Let’s figure it out.
Both freelancers and Design Agencies provide you with the best result if you choose them correctly. Since a freelancer is just one person who works for you, the cost is cheaper, whereas a Design Agency is a team of individuals, due to which they need to pay the salaries to each team member. Hence the cost of the design agency is higher.
Freelancer is cost-efficient when compared to a design agency. You most likely save a handsome amount of money when you choose freelancers, and this turns out to be the best option if your budget is low. On the other hand, Design Agency is a little bit costlier than hiring a freelancer.
Size of Project
The size of the project is also a considerable parameter. If the size of the project is large, then it becomes hectic for an individual freelancer to complete it within the specified time with efficiency. Also, if there are so many other components present in the project, like designing a logo to designing a full-fledged website, then you might struggle to find a freelancer who will do all these for you.
In that case, either you need to go for more than one freelancer or choose a design agency. Hiring more than one freelancer is a cumbersome and time-consuming process because you need to schedule a meeting with each one separately to tell your requirements. In that case, it’s better to go for a design agency because they can handle all your requirements in one place and you don’t need to go here and there.
But if the size of your project is small then a freelancer is sufficient enough for you. If you only need a logo or a website and not more than that, then go for a freelancer.
How to Hire Your First Creative Freelancer or Employee?
Time Taken for a Project
Time to complete the project or simply we can say “deadline” is the most common word in the corporate world. As a business owner, you want your work to be done within the specified time period. “Time is money” is the phrase that holds the true meaning in this fast-paced world where technology is evolving rapidly.
So how many days you want your work to be done, plays a vital role when selecting between a freelancer and a design agency. If you want your work to be done as soon as possible then go for the Design Agency. Since they have a team, they can easily distribute your work among them to meet the deadline very easily. On the other hand, freelancers are solo workers, hence they need time to complete the project without compromising with the quality of work.
In case, the deadline is not a big issue for you and you are ready to give some time to the project, then go for a freelancer. If you choose a skilled freelancer having great experience in the field, then he will give you the best result within the deadline.
Work Efficiency
Now last and the most important parameter in our list is efficiency. The efficiency and quality of work are what we expect. No matter how much money and time you’ve put into the project, if it doesn’t stand out on your expectation then everything is wasted.
The efficiency and quality of the work depend on the skills and experience. If you want to choose between a freelancer and a design agency, then both of them have the ability to deliver quality work for you. A freelancer can also deliver the best result for you and meet your expectations if he/she is experienced and well-skilled. And you might find something missing in your project even after hiring a Design agency if the workers lack skills.
So don’t judge a freelancer and Design agency based on their size, but choose the one who has quality skills in the domain.
Conclusion
Finally! You are now empowered enough to make your own decision and choose the best one to hire for your project. If you keep these parameters in mind you will get quality work within your budget. So what are you waiting for? go and hire the one which suits your needs and get your work done.
FAQ
Should I hire a freelancer or a design agency?
Hiring an individual freelancer will be cheaper than hiring an agency. If your budget is low then Freelancer is a better option otherwise go for a Design Agency.
What would be some disadvantages of hiring freelancers?
One of the biggest disadvantages is the lack of supervision and the quality of work differs from time to time.
Jeenal Jain
