One of the fastest-growing segments in consumer finance is BNPL (Buy Now Pay Later) firms. A market segment that was worth 33 billion USD in 2019, according to GlobalData, had grown to 120 billion USD by 2021. The business model of BNPL firms emerged from extremely low-interest rates that allowed these firms to raise funds at low cost and offer point-of-sale loans to customers on online shopping websites.
Amid the Covid-19 pandemic, millions of Indians took advantage of eCommerce as online shopping gained a stronghold. Many of these shoppers did not own a credit card and opted for interest-free credit facilities at checkout points. To cater to this rising demand, online platforms and facilitators, who are mostly fintech firms like ZestMoney, LazyPay, Simpl, Pine Labs, and Capital Float, were willing to undertake the risks.
How BNPL startups are disrupting India’s lending space?
The Growth of BNPL
Global Transaction Value of Buy Now, Pay Later in Ecommerce from 2019 to 2026
As the economy slowly opened with restrictions, after the severe Covid-19 lockdown, the oncoming festive season of Diwali saw eCommerce firms like Flipkart and Amazon offer various fintech and credit products to make buying more affordable for their customers. In a bid to widen their customer base, these eCommerce sites made these offers available in Tier 2 and Tier 3 cities as well.
Rajeev Kumar K, Senior Vice President, Market Development, South Asia of Mastercard said – “To encourage sales this festive season and making products more affordable for consumers, merchants are partnering with banks to come up with varied co-branded cards. For instance, Mastercard has a co-branded card with Flipkart and Axis Bank that offers higher reward points, cash backs and other benefits on making card purchases at partner brands.”
Backing this statement was Vikas Bansal, Director of Amazon Pay, who said, “We have definitely ramped up the coverage of our EMI-based credit products to help customers with affordability, keeping their monthly budget in control. Debit-card EMI will be a critical product for Tier 2 and 3 buyers this festive season. We have also increased the down payment cycles from 6 months to 9 months for credit card holders.”
He further went on to say that no-cost EMIs accounted for two-thirds of all EMI purchases on Amazon in 2020. Amazon launched the ‘Pay Later’ product in April of 2020 and by October of that year had already offered more than 10 lakh loans.
By 2021, consumer sentiment seemed to be peaking in light of higher vaccination rates. Indians were shrugging off the impact of a second wave of the coronavirus, which gave companies the confidence to look forward to a bumper festive season in 2021. This optimistic outlook was aided in large part by the flexibility to pay later.
The BNPL market size in 2021 was worth USD 132 billion which is expected to grow at a CAGR of 45% and reach an estimated value of USD 3680 billion by 2030.
Shop Now for Diwali and Pay Later With Flipkart Pay Later
The Buy Now Pay Later concept continued to grow during the festive season of 2021 with multiple eCommerce players seeing disbursals growing by more than 100% in comparison to the festive season of 2020.
LazyPay, the BNPL platform of Prosus-owned payments major PayU, saw a rise of 300% in credit demand, particularly in segments like travel, food & beverages and entertainment.
Anup Agrawal, Business Head at LazyPay said, “We also saw an uptick of 70 per cent in user acquisition in the last two months. Around 60 per cent of the demand is from tier-2 and tier-3 cities, specifically outside of the top 10 cities in India, while the average age of consumers is 26-27 years.”
Prateek Jindal, Co-Founder and Chief Product Officer of Uni, a BNPL startup, said they saw a 100% increase in their transactions, both in volume and value, within the first four months of beginning operations.
He went on to say, “We are currently doing more than Rs 100 crore of monthly disbursals and the peak spend per day in the season was 200 per cent higher than the average.”
Lizzie Chapman, Co-Founder and CEO of the Bengaluru-based startup, ZestMoney, confirmed that the company added 5x new customers in October of 2021 and intended to cross a gross merchandise value of USD 1 billion in the financial year.
The eCommerce giant Flipkart too joined the bandwagon and raised the credit limit of its pay later service from INR 10,000 to INR 70,000 in September 2021, ahead of the festive season. For Flipkart, this move proved hugely successful as they witnessed a 4x increase in the number of transacting customers opting for Flipkart Pay Later.
A company spokesperson said, “India is traditionally a credit averse market and the Coronavirus (Covid-19) pandemic’s impact has increased reliance on credit solutions. Access to credit is a key unsolved need for Indian customers who want to manage their expenses, while also fulfilling their aspirations.”
BharatPe, the fintech unicorn, launched its BNPL platform PostPe and saw a daily average disbursals grow by 2X reaching INR 6 crores within the first two weeks of launch.
Suhail Sameer, CEO of BharatPe said, “The top spends were in categories like cabs, QR transactions at grocery or small retailers as well as electronic purchases- these are ones that witness a spike during the festive season. We expect the numbers to stay steady post festive season as the awareness for the product has grown manifold in the last one month.”
Most of the eCommerce players witnessed an increase in spends on categories like apparel, electronics, grocery, cosmetics, and food delivery.
The payments company, Ezetap integrates BNPL with point-of-sales machines and at the checkout of eCommerce platforms. Ezetap recorded a 73% increase in Pay Later transactions volume and a 136% rise in transaction value during 2021 Diwali. It also recorded a 3% rise in the average ticket size of BNPL transactions.
The trending surge of BNPL shows no signs of slowing and is likely to grow exponentially in the coming months and years. The oncoming Diwali season is showing an increased demand for BNPL as consumers are eager to indulge in high-value shopping with the Pay Later options readily available on most mega eCommerce platforms.
FAQs
What is BNPL?
BNPL, short for Buy Now Pay Later, is a financing option that enables customers to buy a product or service and pay for it later within a specified interest-free period.
What is the best BNPL in India?
Some of the top BNPL apps in India are:
ZestMoney
LazyPay
Amazon Pay Later
Flipkart Pay Later
PostPe
How does BNPL help push eCommerce sales during Diwali?
BNPL plays an important role in pushing eCommerce sales during the Diwali season. It gives customers more control over how and when they want to pay for their products or services. This leads to a better customer experience which in turn helps in increasing sales.
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 American Express.
The use of money has been in existence for around 5,000 years. Whereas, a standardized and authorized use of coins can be traced back to the 7th century. Only the form of currency has changed over the years, but the concept and system behind it have been anchored to society for thousands of years. People slowly evolved from barter systems to monetary transactions, which laid the foundation for today’s globalization and international trade.
Despite this convenient system, people still feel some difficulties in carrying money on business or personal travel. As each country had its own currency, the exchange got difficult in the foreign land. There was also insecurity in carrying funds everywhere. As a result, there emerged financial institutions to simplify the process, which in turn introduced Traveler’s Cheques and Cards.
The world’s first traveller’s cheque was introduced in 1772 by the London Credit Exchange Company and the first credit card was brought in by the Diners Club in 1950. After this, the world of financial transactions was revolutionized. It made the system easy, simple, and secure. With just a single international card or cheque, you can make any transaction in any corner of the world.
American Express is one of those financial institutions that played a major role in reforming the industry. The company is most popular for its traveller’s cheques and credit cards. It should’ve been a pioneer in card services by 1946, but didn’t realize its possibility until Diners Club launched in 1950. American Express has an interesting origin story which is followed by its untiring enthusiasm toward technology and customer service.
Here’s the success story of American Express that covers all about the company, including its startup story, team, business model, acquisitions, growth, and more.
American Express, often referred to as Amex, is an American company that is involved in the business of payment card services and banking. It is one of the oldest American companies that was established in 1850. American Express makes the process of payments and money transactions safe, simple, and trustworthy for people from around the world.
Besides card services, this company also provides travel cheques, and individual and business banking services to its customers. The card network of American Express is one of the four largest credit card networks in the world that includes UnionPay, Visa, and MasterCard. American Express operates in over 110 countries that are managed from 55 office locations with more than 60,000 employees. Its global headquarters is situated in New York, United States.
American Express – Industry
The financial services sector is considered to be a crucial and highly significant industry. It is due to its control over the market and economy of a country. This industry includes banks, credit card companies, real estate businesses, accounting companies, stock dealers, insurance companies, and any other establishments that are involved in the management of money.
The industry has started adapting itself to technological advancements by implementing them in all its business operations. Also, numerous Fintech startups are emerging around the world with various innovations and solutions to problems. The growth of the industry can be known from the amount of investments received by the Fintech companies, which is over $210 billion in 2021.
The following are some of the key people who belong to the top management of American Express:
Stephen J. Squeri
Stephen J. Squeri – Chairman and CEO of American Express
Stephen J. Squeri is the Chairman and CEO of American Express since 2018. He has a very long history with the company. Steve is a part of American Express since 1985. He served in various administrative roles for over 37 years. Starting as a manager for the traveller’s cheque group, Steve was then given various roles to perform like, Vice President, President, Chief Information Officer, Vice Chairman, etc., until he was made the CEO in 2018. He graduated from Manhattan College with a Bachelor of Science and an MBA.
Doug Buckminster
Doug Buckminster – Vice Chairman and Group President, Global Consumer Services Group
Doug Buckminster is another senior executive who joined the company in 1985. He currently heads American Express’s Global Consumer Services as President since 2018. He did his Bachelor’s and Master’s in Business Administration at Boston University and New York University respectively. Doug earlier served as the president of various regions of American Express.
Jeff Campbell
Jeff Campbell – Vice Chairman and Chief Financial Officer
Jeff Campbell is the company’s Chief Financial Officer, in addition to his designation as Vice Chairman. He also serves as the CFO and an officer of American Express National Bank. Jeff Campbell has an extensive portfolio of work experience and it includes his services in Deloitte, Haskins & Sells, AMR Corp, American Airlines, McKesson Corporation, etc., He is an Economics graduate from Stanford University and did his MBA from Harvard University.
Anré Williams
Anré Williams – CEO of American Express National Bank and Group President for Enterprise Services
Anré Williams is the Group President for Enterprise Services in American Express. He is also the Chief Executive Officer of American Express National Bank. In short, it is said that Anré Williams looks after the management of two-thirds of the company’s operation. He started his career in American Express in 1990 after he earned his BA from Stanford University and MBA from The Wharton School at the University of Pennsylvania.
American Express – Startup Story
American Express was started as a joint venture between Wells & Company, Livingston Fargo & Company, and Butterfield Wasson & Company. The three founders, Henry Wells, William G.Fargo, and John Warren Butterfield, came together to form a joint-stock corporation to carry out the business of express mail in Buffalo, New York in 1850. It wasn’t planned to be a global financial giant like it is today. American Express kept expanding its mail services all over the US through ships and railroad companies.
It was only in 1857, that the company stepped into financial services through a money order business. Then came the concept of the ‘Letter of Credit’ which wasn’t that successful. As a result, American Express 1891, introduced ‘Traveller’s Cheques’ which became a huge success and made it an international company. Thus the company crafted its way into the financial sector and secured an undeniable spot through innovation and customer service.
American Express has a mission to ‘Becomeessential to its customers by providing differentiated products and services to help them achieve their aspirations.’ The company wanted to give the best products to its customers by doing it in the right way and making it great. It focuses on “Providing the world’s best customer experience every day” and it has, in turn, turned out to be the vision of American Express.
American Express – Name, Logo, and Tagline
American Express Logo Journey over the Years
It started as an express mail company to deliver goods and other materials in the US and hence the name, American Express. The logo of the company was changed four times since its inception. In the first 120 years, the name ‘American Express Co.’ was written in an old serif font on a white background and that remained the logo of the company for many years. Then, in 1974, it was entirely changed to a blue background with a blue font having a thick white outline. Ever since American Express has changed only the fade of blue but not the font.
The company’s popular taglines include, “Don’t Leave Home Without It”, “Don’t live life without it”, and “Don’t do business without it”.
American Express – Business and Revenue Model
The business model of American Express involves selling cards and providing merchant and business transactions across the world. Even today, the company offers various discounts and rewards to its customers which has a huge acceptance in the market. Most of the revenue for American Express comes from Card holders and merchant bankers. The other income flows in through interests, card fees, penalties, conversion fees, etc.,
American Express – Challenges Faced
American Express always charges a little more fees from its customers than the competitors to retain the premium standard of its brand. This has resulted in the loss of customers and merchants over the years. Finally, after years of consideration, the company decided to reduce the fees and charges and focus on widening the market.
On 23 April 2021, the RBI halted American Express from taking in new domestic customers from 1 May 2021. The governing finance body of India stated that the company had violated local data-storage rules which resulted in this restriction. In August 2022, RBI finally lifted the ban on American Express after the company complied with the central bank’s data localization and storage policy.
American Express – Shareholding
Since American Express has a long withstanding history of more than 170 years, its initial financial details are not clarified. But the company’s current ownership and financial activities are made visible to the public. 51.4% of the company’s shares are held by institutional holders. Out of which, 20% of American Express shares are held by Berkshire Hathaway.It is a holding company that is under the management of Warren Buffet. Berkshire Hathaway holds the highest percentage of shares in American Express. 35.30% of shares are with the mutual fund holders and 0.86% of shares are with the individual stakeholders.
Over the years, American Express has made over 35 investments in various companies. Of these investments, it has lead 8 of these funding rounds and has exited from over a dozen of its portfolio companies. Here are some of the recent investments made by American Express:
Date
Company Name
Funding Round
Amount
January 19, 2021
Dastkar
Grant
$125K
October 23, 2017
Abra
Series B
$16M
September 11, 2016
iZettle
Series D
$15.3 M
April 5, 2016
Persado
Series C
$30M
August 28, 2015
iZettle
Series D
$60.09M
January 19, 2015
Leaderosity
Seed
$2.1M
March 20, 2014
Ezetap
–
–
August 15, 2013
Kiip
Series B
–
April 5, 2013
SavingStar
Series D
$9.1M
October 29, 2012
Fancy
Series C
$26.4M
American Express – Acquisitions
American Express has acquired 12 organizations that are involved in diverse areas of business operation. It includes companies from the sectors of food, dining, travel, games, fintech, etc., Here is the list of the acquisitions made by American Express:
Date
Name of the Company
Amount
June 6, 2022
BodesWell
–
August 17, 2020
Kabbage
–
May 15, 2019
Resy
–
March 11, 2019
LoungeBuddy
–
January 15, 2019
Pocket Concierge
–
March 23, 2018
Cake Technologies
$13.3M
January 30, 2018
Mezi
–
December 6, 2016
InAuth
–
September 20, 2011
Sometrics
$30M
March 1, 2011
Loyalty Partner
$585M
November 4, 2010
Accertify
$150M
November 18, 2009
Revolution Money
$300M
American Express – Growth
American Express Annual Revenue from 2017 to 2021
Starting as an Express Mail company in 1850, American Express’s success in the financial services sector is truly marvellous. The company peeped into the money industry in 1857 and then kept introducing products and services at regular intervals. The business kept expanding all over the US with many affiliations and partnerships in mail services. Then in 1914, World War 1 provided a great platform and American Express utilized it to establish its business in Europe. It started providing letters of credit and various other financial services to the stranded troops in the region.
By 1946, American Express initiated talks to issue cards for customers but dropped them on the grounds of feasibility. Had it been done that year, American Express would have been the first company to launch credit cards. But Diners Club took that spot in 1950. It’s never too late, the company launched its credit card services in 1958 and made it one of the largest in the world. The year 1972 marked the expansion of the card network to countries like South America and Europe, which have reached greater heights.
Ever since the launch of credit cards, American Express has made consistent developments and innovations to its product. It transformed its paper cards into plastic cards and continuously rebranded them as Gold, Platinum, Optima, and more. Some of the products were premium branded and were given only to selected customers. Besides cards, American Express also made its mark in travel planning services, car rentals, tour packages, hotel agencies, etc., The company reported a revenue of $42.4 billion for the financial year 2021, which was a 17% year-over-year increase.
American Express – Competitors
The following companies are some of the top competitors for American Express in the area of card services:
Mastercard
Mastercard was started as a bank card associative’s cooperative which had the main aim to fight the competitor Visa. Mastercard offers credit, debit and prepaid cards with good customer support and enhanced features to its users.
Visa
Visa is the second largest card payment network in the world and is considered to be one of the most valuable companies. It was established in 1958 by the Bank of America and was initially called BankAmericard. Visa provides card services to people through banks which in turn manage all the financial transactions of the users.
Discover
Discover Financial Services is a banking company that offers various financial services like loans, credit cards, savings accounts, etc., to its customers. This company owns Diners Club International which was the first one to introduce credit cards. It is known for its low-fee services and cash reward programs.
American Express – Future Plans
American Express is expecting an overall growth of around 20% in the current year. After exciting growth in revenue in the previous year, the company is projecting a further rise in its revenue.
This financial services company is also planning for hybrid, onsite, and virtual forms of work in the near future. Once implemented, the company’s working environment involves a few onsite employees who have some essential roles to be played from the office. Hybrid employees would work a few days from the office and the rest of the days at home while virtual employees can fully work from home.
Like many other companies, American Express is also running towards zero-carbon emissions in the upcoming years. The company believes that the low-carbon work environment would give it the sustainability in long term. Various programs have been launched toward this mission. American Express is committed to achieving the target of net-zero emissions by 2035.
FAQs
What does American Express do?
American Express is a leading issuer of credit cards and business travel cards. The company also offers saving accounts, travel insurance, and other financial services making the process of payments and money transactions safe, simple, and trustworthy for people from around the world.
Is it hard to get approved for an Amex?
When compared to different issuers of credit cards, it is usually hard to get an Amex as all its credit card offers require a good or excellent credit score for approval.
Is Amex closing in India?
In August 2022, RBI finally lifted the ban that it had earlier imposed on Amex in April 2021 for the violation of local data-storage rules. This comes after American Express complied with the central bank’s data localization and storage policy.
What credit score do you need to get an American Express card?
You need a CIBIL score between 680-700 to get an American Express card. You may get difficulty in getting an Amex credit card if your credit score is lower than 700.
A business that sells its products and services to other businesses is called B2B, or Business-to-Business. So, B2B writing simply means writing for businesses that sell products and services to other businesses. A few examples of B2B business models are:
A SaaS company selling budgeting tools to other companies.
An industrial machine manufacturing company selling industrial machines to other companies.
An insurance company selling commercial insurance to other companies.
Just as with a consumer-facing business, a B2B business needs marketing content to reach its target audience. Since the target audience is comprised of other businesses, their marketing techniques differ from the established commercial marketing gimmicks. This is where B2B content writing plays an important role, and so does a B2B writer.
Within the scope of freelance writing, B2B writing is a type of content writing. The only specific and important difference between B2B writing and other forms of content writing is the target audience. Depending on their products or services, brands engage in different formats of B2B content writing. Some common forms of B2B Content Writing are:
Newsletters
Info products or Infomercials
Social Media Advertisements
E-Books
Copywriting
Case Studies
Press Releases
Blog Posts
Email Campaigns
Video Scripts
Web Design
Infographics
Skill Set Required to Become a B2B Writer
Leading Goals of B2B Content Marketing Worldwide (2021)
There are many work opportunities for a B2B writer. The big question is – Are the required skills present to become a successful B2B writer? A successful B2B writer needs certain specific skills, including word articulation.
Copywriting
Meaningful content that is easy to read, engaging, and leaves the reader yearning for more is what makes successful copywriting. The writer must be able to reveal facts within the framework of the article that adds value to the reader. It is one of the most important skills for a B2B writer.
Research
One word, but it is the backbone of a successful write-up. Research helps with understanding the nuances of a business, the target client, the buyer persona, and the business marketing strategy. This, in turn, helps to shape content that is sharp, focused, and specific in its address. Some questions to ask before creating content would be:
Who is the target audience?
What are the pain points that are being addressed?
What is currently resonating with target clients?
Business & Industry Knowledge
It is, of course, necessary for a B2B writer to know the business and its inner workings to create great content. It is important to know about the company’s vision and market, as well as understand how their marketing, leadership, and sales work. However, a working knowledge of the industry to which the business belongs adds another layer of effectiveness to the created content. Industry knowledge allows for a deeper understanding of the issues that need to be addressed.
Detail-Oriented Writing Process
When it comes to creating B2B content, it is mandatory to know that companies value statistics, facts, and useful information, usually backed by case studies. These are vastly different from B2C content writing, which is usually driven by emotional and impulse buying. B2B writing process is detail-oriented, factual, and showcases a real value add in terms of return on investment.
Adaptability
While working with businesses and brands, adaptability is a skill that is a must-have. In a field like content writing, businesses are always looking for new ideas and innovative approaches to reach their target audience. This need is more prominent with a B2B content writer. A result-driven content is one that hits the target audience with relevant content material at various stages of the buying journey. This calls for adapting quickly to situations and creating relevant content.
Business-to-Business writing is specialized and laser-focused. So, while it requires skills that answer to this form of writing, there are various benefits attached to B2B writing. These are:
It is a financially rewarding work due to its specialisation.
It provides an excellent opportunity to work with globally recognised brand names.
It allows a writer to explore new areas of expertise.
It helps in building new relationships within the industry.
Almost all industries require B2B writers. While it is impossible to comprise a comprehensive list that covers all industries, there are a few prominent industries and brands in these spaces that provide B2B work opportunities.
B2B writing opportunities can be found on sites like LinkedIn, Monster, etc., where companies and brands often list their requirements. A B2B content writer can apply with a portfolio of previous write-ups and a resume that highlights their skill sets. As a profession, B2B writing is in high demand and a skilful writer can build a successful career with this specialisation.
FAQs
What is B2B writing?
In simple terms, B2B writing means writing for businesses that sell products and services to other businesses. This can be in the form of blog posts, case studies, sales copy, emails, white papers, and more.
What skills do I need to become a B2B writer?
The following skills are required to become a successful B2B writer:
Copywriting
Research
Business and Industry Knowledge
Detail-Oriented Writing Process
Adaptability
What are the benefits of B2B writing?
There are various benefits of B2B writing, like:
It is Financially rewarding.
Provides an opportunity to work with global brands.
Helps writers to explore new areas of expertise.
Helps in building new relationships in the industry.
Provides an opportunity to experiment with different forms of writing.
Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by the State Bank of India.
Ever thought, if there were no banks how would the economy of the country develop? Banks have existed as old as any civilization and in different forms. The banking sector undoubtedly plays a very key in shaping the economy of our country.
Banking sectors over the years have bought various changes in the monetary policies to technological advancements. Right from the pre-independence phase during the 1770s to liberalization during the 1990s, this sector has come a long way.
State Bank of India is the world’s 43rd largest banking sector, and ranked as 221st Fortune Global 500 list of the world’s biggest corporations of 2020, is the only Indian bank to make the list. Commonly called SBI by many fellow Indians, the State Bank of India is an Indian Multinational, Public Sector Banking and Financial services statutory body.
In this article, learn all about State Bank Of India, how it started, its growth, business and revenue, competitors, the challenges faced, and much more.
State Bank of India has a 23% market share by assets and a 25% share of the entire loan and deposit market. It is a public sector bank and the biggest bank in India, with approximately 250,000 workers. It is also India’s fifth-largest employer.
With a quarter of the market share, it serves over 45 crore customers through a vast network of over 22,000 branches, 62617 ATMs or ADWMs, and 71,968 branch outlets. The bank’s core values of service, transparency, ethics, politeness and sustainability drive its unwavering focus on innovation and customer-centricity.
Through its several subsidiaries, including SBI General Insurance, SBI Life Insurance, SBI Mutual Fund, SBI Card and Payment Services, etc., the Bank has successfully diversified its commercial operations. It has a widespread presence around the world and employs 229 offices in 31 different foreign nations to function across time zones.
SBI is the earliest commercial bank in the Indian Subcontinent and came from the Bank of Calcutta, incorporated in 1806 through the Imperial Bank of India. The Bank of Madras merged with the Bank of Calcutta and the Bank of Bombay, the other two presidential banks in British India, to form the Imperial Bank of India, which later changed its name to the State Bank of India in 1955. Throughout its 200-year history, the bank has been primarily formed through the acquisition and merger of over twenty banks. In 1955, the Indian government took over the Imperial Bank of India, rebranding it State Bank of India and granting the Reserve Bank of India (India’s central bank) a 60% shareholding.
State Bank of India – Industry
In today’s times, it is recorded that the Indian Banking system consists of around 22 private sector banks, 12 public sectors, 56 regional rural banks, 46 foreign banks with 1485 urban cooperative banks, and 96,000 rural cooperative banks.
Many banks’ credit grew at a CAGR of 0.29 percent between FY16 and FY21. Total credit extended as of FY21 increased to US$ 1,487.60 billion. Deposits increased at a CAGR of 12.38 percent between FY16 and FY21, reaching US$ 2.06 trillion by FY21. As of May 20, 2022, bank deposits totaled Rs. 165.74 trillion.
State Bank of India – Key People
State Bank of India is a public sector bank, which is directed under Dinesh Kumar Khara, who is the Chairman of the bank.
Dinesh Kumar Khara
Dinesh Kumar Khara is the Chairman of the State Bank of India (SBI). He started in 1984 by joining SBI as a Probationary Officer. He has held a number of important roles, including that of Chief General Manager – Bhopal Circle, MD (Global Banking & Subsidiaries), MD (Associates & Subsidiaries), and MD & CEO (SBI Mutual Funds).
Dinesh Kumar Khara has an MBA from the Faculty of Management Studies in New Delhi and a postgraduate degree in commerce from the Delhi School of Economics. He is also an Indian Institute of Bankers Certified Associate (CAIIB). Alongside extensive roles, he has also carried out the merger of SBI and Bhartiya Mahila Bank with its five subsidiary banks. At various times, he also served as the bank’s head of risk, information technology, and compliance.
State Bank of India – Startup Story
If we talk about the startup story of SBI, then it goes back to the 19th century. The evolution of the bank started when the Bank of Calcutta, subsequently known as the Bank of Bengal, was founded in 1806. The Bank of Bengal and the Bank of Bombay, both of which were established in 1840, were the other two Presidency banks (incorporated after three years). Royal charters led to the formation of all three Presidency banks as joint stock companies. Prior to 1861, when the Paper Currency Act gave the Indian government control of the privilege, these three banks had the only authority to print money. On January 27, 1921, the Presidency banks merged, and the newly formed banking organization adopted the name Imperial Bank of India. Even without government support, the Imperial Bank of India remained a joint-stock business.
The Reserve Bank of India, the country’s central bank, obtained a majority stake in the Imperial Bank of India in conformity with the provisions of the State Bank of India Act of 1955. The Imperial Bank of India changed its name to the State Bank of India on July 1st, 1955. Since the Reserve Bank of India regulates the nation’s banking industry, the Government of India purchased the RBI’s holding in SBI in 2008 to avoid any potential conflicts of interest.
State Bank of India – Mission and Vision
State Bank of India Vision says, “Be the Bank of Choice For A Transforming India”
State Bank of India’s mission is, “Committed to Providing Simple, Responsive and Innovative Financial Solutions”
The bank also has five values upon which it serves its customers. The values are; Service, Transparency, Ethics, Politeness, and Sustainability.
State Bank of India – Name, Logo, and Tagline
The State Bank of India has multiple taglines. Some of the popular taglines of SBI are:
“PURE BANKING, NOTHING ELSE”
WITH YOU – ALL THE WAY”
“THE BANKER TO EVERY INDIAN”
“A BANK OF THE COMMON MAN”
“THE NATION BANKS ON US”
The logo of SBI can be seen as a blue circle with a cut that is white in color depicting the shape of a common man, which is the bank’s main motto for doing business. The logo was designed in 1971 by the National Institute of Design, Ahmedabad.
State Bank of India – Business Model
The business model of the State Bank of India is based on a wide variety of business models. Treasury, Corporate or Wholesale Banking, Retail Banking, and Other Banking businesses are the four business elements in which the bank works.
Besides providing services to its customers, SBI is also engaged in providing financial services through its multiple subsidiaries including, mutual funds, credit cards, life insurance, merchant banking, security trading, pension fund management, and primary dealership. The subsidiaries of SBI are as follows:
SBI Life Insurance Ltd.
SBI Cards and Payment Services Ltd.
SBI General Insurance
Jio Payments Bank
Andhra Pradesh Grameena
Vikas Bank
Kaveri Grameena Bank
The reach of SBI doesn’t end here. The bank serves its services worldwide. It has its business spread with 57 zonal offices across significant cities in India, along with 16 regional centers.
It has 22,219 Branches with 62,617 ATMs in India, and in International, it has 229 Branches in 31 countries. The main target audience of SBI overseas is the NRIs. It has branches in countries like London, Colombo, Hong Kong, Johannesburg, Frankfurt, Osaka, Dhaka, Los Angeles, New York, Sydney, Bhutan, Singapore, and Tokyo.
YONO stands as You Only Need One – an integrated digital banking platform launched by SBI in 2017. It allows users to gain access to a number of banking services as well as other services like online shopping, paying medical bills, movie ticket booking, travel planning, and booking flights, trains, buses, and taxis. Both Android and iOS users can download the YONO app to their smartphones. The app was developed by IBM. The cost of the development of the app is anticipated somewhere around Rs 4,000 crores. Additionally, YONO provides standard mobile banking services like loans, financial transfers, cashless bill payments, and bank account opening. The highlight of using YONO is that you can withdraw money from an ATM using the smartphone app without using an ATM card.
State Bank of India – Revenue Growth
SBI earns its money through its various products and services. But, to say in a precise manner, SBI generates its revenue mainly through interest payment services from its customers.
As of 2022, the revenue of SBI is Rs 406,973 crores with a net income of Rs 43,774 crores. The operating income of SBI stands at Rs 78,898 crores.
State Bank of India – Employees
According to sources, SBI had 245,652 employees, ranking it one of the largest employers in the world in 2021. The representation of female employees in the workforce is close to 26%.
In the same year, there were 44.28% of officers, 41.03% of associates, and 14.69% of subordinate employees, respectively. During FY 2020–21, each employee contributed a net profit of Rs 828,350 (US$10,000).
State Bank of India – Challenges Faced
The outbreak of Covid in 2020 had a crucial impact on SBI. It was the time when the overall economy had shrunk affecting many households and businesses. During that time, the corporate sector, which makes up the majority of the bank’s clients, was already using liquidity management to reduce costs and outperform CAPEX.
The previous Chairperson of the State Bank of India, Rajnish Kumar had shared, “FY21 will be challenging as the full impact of the Covid-19 outbreak will be felt in this financial year. For instance, likely job cuts and salary reductions will have a relatively low level of stress on account of a higher proportion of Govt/ Quasi-Govt sector customers (in SBI’s loan portfolio). As of now, only 21.8% of the customers have availed the benefit of a moratorium.”
State Bank of India – Investments
State Bank of India has made 21 investments so far. Their most recent investment was on 5 July 2022, when Rivulis Irrigation raised $250 million. Some of the recent investments made by SBI are listed below.
Date
Company Name
Funding Round
Amount Invested
7/5/2022
Rivulis Irrigation
Debt Financing
$250 million
6/30/2022
Indiabulls Housing Finance
Post-IPO Debt
$100 million
3/25/2022
National Asset Reconstruction Company
Corporate Round
₹15 billion
1/4/2022
Pine Labs
Corporate Round
₹1.5 billion
12/21/2021
JWS Cement
Private Equity Round
₹1 billion
11/20/2021
Biryani By Kilo
SERIES B
$35 million
6/7/2021
Cashfree Payments
Funding Round
10/18/2020
DLF Cyber City Developers
Debt Financing
₹24 billion
9/8/2020
Cube Highways and Infrastructures
Debt Financing
₹35 billion
2/6/2020
Leap India Food Logistics
SERIES B
$23 million
State Bank of India – Shareholdings
The government of India owned about 61.23 % of the equity shares in SBI as of March 31, 2017. With 8.82% of the company’s shares, the state-owned Life Insurance Corporation of India is the largest non-promoter shareholder.
The equity shares of SBI are traded on the National Stock Exchange of India and the Bombay Stock Exchange, where they are included in the CNX Nifty and the BSE SENSEX index, respectively. The London Stock Exchange has Global Depository Receipts (GDRs).
State Bank of India – Mergers, and Acquisitions
SBI has acquired seven banks in 1960 by prefixing them with ‘State Bank of.’ These were the seven regional banks of the former princely states of India. These are;
State Bank of Bikaner and Jaipur (SBBJ)
State Bank of Hyderabad (SBH)
State Bank of Indore (SBN)
State Bank of Mysore (SBM)
State Bank of Patiala (SBP)
State Bank of Saurashtra (SBS)
State Bank of Travancore (SBT)
SBS merged with SBI in September of the same year with plans to combine the partner banks into a single, and the extremely large bank was initiated in 2008. State Bank of Indore (SBN) also merged the very following year.
The State Bank of Bank has made five mergers since 2017, which is the largest merger in the history of the Indian Banking Industry.
The banks with which SBI has merged are:
State Bank of Bikaner and Jaipur (SBBJ)
State Bank of Hyderabad (SBH)
State Bank of Mysore(SBM)
State Bank of Patiala(SBP)
State Bank of Travancore(SBT)
Bharatiya Mahila Bank
State Bank of India – Online and Social Media Presence
It is amusing to know what makes SBI the largest bank in the country. The bank clearly knows how to target its target audience through various social media platforms. Here’s the number of followers the bank has on different social media channels:
LinkedIn – 2,413,368 followers
Facebook – 17,891,102 followers
Pinterest – 8.1 thousand followers
Twitter – 4.4 million followers
Instagram – 2.1 million followers
YouTube – 415K subscribers
State Bank of India – Advertisement and Social Media Campaigns
In 2021, SBI started a campaign on social media #KindnessIsCool campaign. It was Kreativ Street, an integrated marketing firm with offices in Gurgaon, who created the campaign. “Why isn’t there enough kindness on the internet?” was the question that the campaign set out to answer. The main objective was to make an effort to address the negativity and trolling that are common on social media sites. The impact of the ad was that 9.8 million people saw the advertisement as a whole throughout the Twitter-first campaign across Promoted Trend Spotlight and Promoted Tweets.
The campaign garnered 232K engagements and 15 million impressions across timelines. According to the survey by Twitter, it was found that brand awareness increased by 18%, favorability by 12%, and ad recall by 20%. Additionally, compared to two weeks prior to the campaign, positive opinions about SBI increased by 92% during the campaign period.
It doesn’t take much to be kind. If you are empathetic offline then let that reflect in the virtual social place, too. Let’s create a kinder ecosystem for everyone on social media. #KindnessIsCoolpic.twitter.com/2IiVePE3XW
— State Bank of India (@TheOfficialSBI) March 1, 2021
State Bank of India – Awards
The giant, SBI has won many accolades. Here’s taking you to the list of awards received by SBI:
ICONIC BRAND OF INDIA 2021 BY THE ECONOMIC TIMES.
OUTSTANDING PSU OF THE YEAR (2021) AT 11Th MANAGING INDIA AWARDS BY ALL INDIA MANAGEMENT ASSOCIATION.
Brandon Hall Awards, Excellence in Learning 2020 for “Nayi Disha
Technology Excellence Award 2020 for e-RBC
Brandon Hall Awards, 2020 for Learning initiatives benefitting 2 lakh Employees
State Bank Bhavan was awarded the Performance Challenge Award 2020 by Indian Green Building Council (IGBC).
Gold winner for Digital marketing Excellence in Content Marketing (Banking)
Gold winner for Digital Marketing Excellence in Video (Banking)
“Most Innovative Project” category for CHAPDEX (Customer Happiness Index) (2020)
Winner of the “Best Financial Inclusion Initiatives” category (2020)
State Bank of India – Competitors
Some of the major competitors of SBI are:
HDFC
ICICI Bank
Bank Of India
Bank of Baroda
Canara Bank
Punjab National Bank
Union Bank
Central Bank
Indian Bank
UCO Bank
FAQs
When was SBI founded?
On 1st July 1955, the State Bank of India was founded.
Who is the current Chairman of SBI?
Dinesh Kumar Khara became the 26th Chairman of SBI in 2020.
Is SBI a government bank or private?
State Bank of India is a multinational public sector bank headquartered in Mumbai, India.
Is YONO owned by SBI?
Yes. YONO is the digital banking platform offered by the State Bank of India.
We are living in an era where fintech is taking over the world. Technology has always given us a revolutionary form in every sector, now it is the turn for fintech. India has become a hub for startups. More and more people are showing their interest in being an entrepreneur. Fintech startups are showing immense growth in the country and as of now, India has over 2,100 Fintech companies. As per reports, by 2025 the fintech market in India is expected to reach $150-160 billion.
Now, any kind of business needs funds to function, without funds, the survival of a business is not possible. The fintech industry is booming with new business ideas and opportunities alike. Now Fintech startups are experiencing growth and one of the prime reasons is the investors. They are providing these startups with the required funds that their business needs. In this article, we will talk about the different investors in India that invest in fintech startups. So, without any further ado, let’s get started.
“FinTech is not only an enabler but the driving engine” -Pierre Gramegna
How Fintech Founders are Planning to Dominate the Indian Bond Market?
Elevation Capital which is formerly known as SAIF Partners is a venture capital firm known for investing in some of the most popular startups and is one of the biggest investors in India. The company was founded in the year 2002 by Ravi Adusumalli and since then it has never looked back and provided support to some of the biggest fintech startups in India. Some of the popular Indian fintech startups that have received funding from this venture capital firm are PayTm, FamPay, Uni, Jodo Anthem, Aye Finance, Acko, and more.
This Mumbai-based investment firm, founded in 2010 has been showing its grasp by investing in some of the seed-stage and early-seed-stage startups from all sectors of business. The venture capital firm has participated in more than 175 funding deals. Some of the Indian fintech companies it has invested in areInstamojo, Turtlemint, Slice, Zopper, Kaleidofin, Unicoin, smallcase, and more. Blume Ventures is one of the most popular venture capital firms in India that has generously invested in some of the most popular fintechs in India.
Better Capital is founded by Vaibhav Domkundwar and the firm is focused on building and investing in promising businesses. This India-based, venture capital firm has been showing its interest in fintech startups from the very beginning. Better Capital’s investment portfolio includes more than 200 companies among which 40 are related to fintech. The venture capital firm has invested in some of the popular fintech startups like Rupeek, Open, Slice, M2P, Jupiter, Rupify and others.
Kalaari Capital is a popular Indian Venture Capital firm that is founded by a woman, Vani Kola. The headquarters of the Kalaari Capital is situated in Bengaluru. The investment firm founded in 2006 mainly looks for promising and early seed-stage startups from multiple sectors to invest in. Kalaari Capital has invested in the likes of Threedots, Upstox, Toffee Insurance, AffordPlan, WeRize and other fintech startups.
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The venture capital firm mainly focuses on early-stage businesses and invests in them. The company focuses on multiple sectors including Fintech, Edtech, b2b sectors dealing with fintech, Health-tech, SaaS, consumer brands and others. The headquarters of the company is situated in Mumbai. The company has invested in more than 70 deals and among them, 9 are related to fintech startups. Some of the popular fintech startups that the venture has invested in areLendingkart, LoanTap, Upwards, Propelld, and more.
Prime Venture Partners
Founder – Amit Somani, Sanjay Swamy and Shripati Acharya
Prime Venture Partners – Fintech Investors in India
Prime Venture Partners was founded in the year 2011 and since then it has funded many fintech startups. The company was founded by Amit Somani, Sanjay Swamy and Shripati Acharya and the headquarters is situated in Bengaluru. The company has also invested in the sectors of Edtech, SaaS, and health care. Some of the major fintech startups that Prime Venture Partners have invested inareNiyo, AffordPlan, KredX, Knight FinTech, and more.
Pravega Ventures
Founder – Mukul Singhal, Rohit Jain and Vinay Menon
Another prominent fintech investor in India on the list is Pravega Ventures, founded by Mukul Singhal, Rohit Jain and Vinay Menon. The headquarters of the company is situated in Delhi. Pravega Ventures has contributed to more than 26 funding deals till now. The venture capital firm focuses on tech-related startups which include fintech as well. It has invested in fintech startups like ePayLater, Flexmoney, Mintoak, MyShubhLife, and more.
Titan Capital
Founder – Kunal Bahl and Rohit Bansal Founded – 2015 Investment Portfolio – LogiPe, Jupiter, Credgencies, Razorpay, Tinkerr, Astu Credit
Titan Capital – Fintech Investors in India
Titan Capital is a venture capital firm whose headquarters is situated in Gurugram. The most interesting thing is that the firm is founded by Kunal Bahl and Rohit Bansal who are the founders of Snapdeal. The firm focuses on funding seed-stage and pre-seed-stage startups. It was founded in the year 2015 and since then Titan Capital has participated in many funding deals related to different sectors of startups. Titan Capital has invested in fintech startups like LogiPe, Jupiter, Credgencies, Razorpay, Tinkerr, Astu Credit, and more.
For any kind of business, investment is necessary. Investors willingly provide businesses that they deem to be potential with the needed funds. Fintech startups are growing in numbers in India, and it seems like it’s just the start of the real game. Naturally, investors are also looking to invest in fintech startups as financial services have become an important need and the market is growing quite fast. With time, many other venture capital firms will also start investing generously in fintech startups.
FAQs
What is Fintech?
Financial technology is abbreviated to FinTech and it comprises companies that use technology to offer financial services.
How many fintech startups are there in India?
There are more than 2100 fintech startups in India as of 2022.
Farhan Akhtar is an Indian director, actor, producer, singer, screenwriter, and television host. He is primarily known for his work in Bollywood. He hails from a family of veterans and is the son of film actress and screenwriter Honey Irani and poet and lyricist Javed Akhtar. He has an elder sister, renowned filmmaker Zoya Akhtar.
He made his directorial debut in 2001 with the critically acclaimed Dil Chahta Hai, which received the National Award for Best Hindi Film in 2002. His sophomore movie, a war drama, Lakshya, was released in 2004 and is regarded as a cult film. He garnered significant commercial success with Don in 2006, starring Shah Rukh Khan. He made his debut on the big screen with the musical drama Rock On!! In 2008. He launched a social campaign called M.A.R.D. (Men Against Rape and Discrimination) to spread awareness about the rape and discrimination faced by women.
He has earned success and respect on his own accord, despite coming from a family of people with connections in Bollywood. He has been on the checklist of many brands, especially after having established himself as a leading actor in the industry. He is the face of several brands and continues to be sought after by many more.
An Indian luxury products company, the Titan, is the manufacturer of fashion accessory products like watches, fragrances, eyewear, jewelry, etc. It is a part of the Tata Group and has its headquarters in Bangalore. Xylys is an exclusive brand of Swiss-made watches by Titan. It brings the precision of Swiss watchmakers.
The brand signed Farhan Akhtar as its brand ambassador in 2011. On their association together, the Vice President, Ajoy Chawla, said, “Farhan is a new age, multi-talented individual admired for his unconventional work. He embodies the Xylys brand’s core values of sophistication, individualism, and authenticity, yet unconventional. We believe he will enable Xylys to connect deeply with the new age, global Indian seeking to express their own identity uniquely.”
Farhan also added, “A great deal of design thought is required in the making of a film or bringing a character to life. Only when the design is in place, you can infuse it with passion, and I feel that the ideation behind creating every timepiece from Xylys has followed a similar process. It is great to be associated with a Swiss watch brand that exemplifies precision for detail, uncompromising functionality, and design excellence. I am all the more excited to represent a Swiss watch brand from House of Titan, and I look forward to the days to come with Xylys.”
O.M.R.O.N.
Based in Kyoto, Japan, Omron is an electronics-based company founded in 1933 by Kazuma Tateishi. It is particularly known for manufacturing its medical equipment like blood pressure monitors, thermometers, etc. It is also known to be one of the world’s first manufacturers of Automated Teller Machines (A.T.M.).
In 2013, Farhan Akhtar was signed on to promote the company’s new age blood glucose monitors, also known as glucometers. India is known to be the diabetes capital of the world, and so there is a massive demand for blood sugar level measuring machines here.
Farhan Akhtar, on their association, commented, “Keeping fit and staying healthy is essential for everyone in this fast-paced age. I am delighted to partner with O.M.R.O.N. in its mission toward the realization of a healthy life and the prevention and treatment of lifestyle-related diseases. Strict adherence to international quality and safety standards makes O.M.R.O.N. the right choice for you and your loved ones.”
They signed on Farhan Akhtar in 2015 to be the face of the deodorants at Park Avenue through a televised advertisement.
The advertisement was aimed at promoting the deodorant through ways other than the generic attracting the opposite sex plot line and revamping the marketing strategy based on the lifestyle and the true meaning of male grooming and masculinity, and sparking a fresh conversation around it.
Ford Figo Aspire
Ford Motor Company is a multinational automaker with its headquarters in Dearborn, Michigan. It is through this company that the concept of Fordism (a type of industrial work management) and assembly lines were introduced in the industrial world.
In 2015, Farhan Akhtar was appointed to be the brand ambassador of the new Ford Figo Aspire, a compact sedan.
Commenting on the car he is promoting, he said, “I love the way it looks, I mean look at it, it’s fabulously contemporary and it is great driving it around in city conditions. It’s also got some nice features like the SYNC technology with the Ford Applink and Emergency assistance and then there are the airbags, which make it a safe car.”
IndusInd Bank
A first among the new generation banks in India, IndusIndBank was inaugurated in 1994 by the then Finance Minister, Manmohan Singh.
The bank signed Farhan Akhtar to be the face of their brand and represent a new feature called Video Branch in 2014. Video Branch is an extension of the feature ‘Responsive Innovation’, which aims at providing customers with a convenient and hassle-free experience. As banking is becoming more and more digitalized, features like these are extremely useful for customers.
About the tie-up, Farhan Akhtar said, “I am happy to be associated with a young and fast-growing brand which has responsive innovation as an integrated theme. I have seen the earlier brand campaigns by the bank, and I am sure my association with the brand will complement the brand growth and take it to new heights.”
Yepme
Based in Gurugram, India, Yepme is an online shopping brand that specializes in the retail of men’s and women’s clothing and accessories. It was launched in 2011 by Vivek Gaur, Sandeep Sharma, and Anand Jadhav.
Yepme signed on Farhan Akhtar as their brand ambassador in 2014, with him featuring in a music video for the company.
On their association, Farhan Akhtar commented, “We are incredibly eager to release this music video. Regarding the usage of special effects and transitions, the video is unique and reflects the everyday life of today’s youngsters in a unique and entertaining way. Since Farhan is an iconic figure among Indian youth and is a class apart from others as a singer-songwriter, actor, director, and multi-talented artist, we are confident that the song and visuals will find their way to everyone’s hearts and minds. Farhan is also someone who is liked, respected, and also highly relatable to our audience. The video is one of its kind in terms of the use of special effects and transitions – and captures the slice of life of today’s youth in a fun and unusual way. This is a completely fresh approach to building a connection with today’s youth, and we are confident that the song and visuals will make way to the heart and minds of everyone – especially since Farhan is an iconic figure amongst Indian youth and is a class apart from others, being a singer-songwriter, actor, director, a multi-talented artist – he is someone who is liked, respected and also highly relatable for our audience.”
Code by Lifestyle
Code by Lifestyle is a formal and casual clothing retail brand for men and women. Farhan Akhtar was signed on to endorse the company as their brand ambassador in 2015.
Code by Lifestyle has emerged to be one of the most preferred brands by men who have an eye for the new age and a sharp sense of style. Farhan, with a versatile range of achievements and an effortless and confident style, perfectly embodies everything the brand wants to deliver and more.
Farhan also commented, “I really like the collection Code has. The apparels are both trendy and stylish. It’s great to be representing the brand.”
Farhan Akhtar is one of the most skilful Bollywood celebrities, having expertise in not only his acting skills but also in direction, writing, singing, and production. His witty and charming personality and huge fan following make him a popular choice among brands for their endorsements. Be it fashion and lifestyle, automobiles, or banks, this man has played a role in almost every kind of brand endorsement.
FAQs
What is Farhan Akhtar’s Net worth?
Farhan Akhtar’s net worth is 2.5 million USD.
Who are Farhan Akhtar’s parents?
Farhan Akhtar’s parents are Javed Akhtar and Honey Irani.
What is Farhan Akhtar’s age?
Farhan Akhtar is 48 years of age.
What was Farhan Akhtar’s first film?
Farhan Akhtar’s first film as a director was Dil Chahta Hai, and as an actor was Rock on!!
When it comes to a product management tool, we look for those with flexibility, and easy functioning, and should include all the required software, right? Yes, with the right product management tool, the job becomes a lot easy than it is.
Usually, such tools include development tracking, product analytics, and road mapping software. However, the work of product managers goes way beyond just tracking the backlog, reviewing the product roadmap, and obtaining product insight.
That’s why the preferences that both the fresher as well as seasoned product managers go with is such a tool that does not leave any key component which is significant to their job.
And if you’re also confused with so many product management tool options available in the market, then you’ve come to the right place. This article contains a brief evaluation of the best product management tools in the market. So, go through this list of tools and pick out the best option for you. Let’s get started!
If you’re looking for the best tool for scalability, then monday.com is the best choice for you. It manages and tracks the daily work of teams of all sizes. Whether it’s a roadmap for a large-scope product or just a weekly iteration, with monday.com, you can easily analyze and track your employee’s work and progress.
And the plus point here is that with such a platform, collaborating with teammates becomes a lot easier. The operating system of monday.com is built with tons of visual as well as flexible features that fit perfectly for any kind of workflow required by your team. It is created with a simple and intuitive UI that makes enrolling pretty quick and effective.
You can also customize your account here to fit all your requirements in it. Plus, you get various customized templates for all the stages of product management. Moreover, this product management tool has integration with more than 40 tools that proceed with a 2-way data sync.
Price: monday.com offers a 14-day free trial period, after which the prices start at $17/2 users/month.
2. Walling
Founded: 2019
Ratings: 4.7
Walling Website
If you’re looking for a visual product management tool with an absolutely clean interface that organizes and handles the workflow, then Walling is the perfect fit for you. It visually organizes all those work ideas and projects in a single place so they can have clarity on the overall task and important points.
Along with this, Walling comes with a distinct feature of collecting ideas and organizing them in a particular visual place for everyone. The key selling point of Walling is that it organizes all the key components, ideas, tasks, and projects in a broad visual format.
Some of its key features are assisting tasks, adding comments, due dates, database tables, kanban views, and many more. Apart from this, it is integrated with Google Drive so you get a list of several third-party integrations scheduled for future purposes.
Price: Walling starts with the price of $5/user per month along with a free place of 100 bricks.
3. Trello
Founded: 2011
Ratings: 5
Trello Website
Another amazing product management tool is Trello, famous for collaborating, project management, and achieving new productivity grounds. It creates a colorful board that contains various sticky notes, each representing different tasks for the team members.
For product managers, Trello helps in organizing their ideas and thoughts in a collective format. It has great accountability tracking and keeps conversations, documents, and all the important things in one place.
Price: Trello comes free of cost for the first 10 boards, after that it charges $5/month for unlimited boards and $10/month for a premium subscription.
4. ProdPad
Founded: 2012
Ratings: 4.7
ProdPad Website
Being counted among the top product management platforms, ProdPad comes with a wide range of amazing features with an amazing interface. This tool is mainly famous for three key components which are idea discovery and management, Lean road mapping, and customer feedback management.
Let’s begin with its idea discovery and management feature which helps in determining what the company needs at the utmost priority and offer efficient tools like customer data integration and impact vs. effort charts.
The next is lean road mapping which provides an alternative solution to the timeline-based roadmaps to gain a clear and broad picture of a team’s progress and make it easy to track its success.
And its customer feedback management tool leverages artificial intelligence to provide organized user feedback. ProdPad is known for its versatility and is a comprehensive road mapping tool.
Price: ProdPad offers various pricing models as the roadmap feature comes at the price of $20/editor per month while all three combined modules are $60/editor per month.
5. Notion
Founded: 2013
Ratings: 4.2
Notion Website
When it comes to note-taking capabilities for product management, Notion is the best to consider. Product managers prefer Notion to note down the key points during the meetings, label them and collect them in a particular place. This makes it very easy to search for what you need and obtain all the required information from it.
Now being a product manager, you very well know how important it is to take notes of all kinds from different stakeholders, such as business development, leadership design, team meetings, engineering, and user interviews.
And with this note-making only, you can come up with tons of properties like set deadlines, create drop-down menu items, checklists, team notes & people, add formulas and create various templates through the existing note blocks. And with such versatility, Notion works amazingly for both team and personal accounts.
Price: Notion is initially free to share with 5 guests only, after that it charges $4/month for unlimited guests, and for premium features, it is $8/month.
6. ProductPlan
Founded: 2013
Ratings: 4.7
ProductPlan Website
Built with the combined feature of road mapping and collaboration, ProductPlan works to align the team for a product manager to come up with something brilliant.
This product management platform is very easy to function and helps you build and share as many roadmaps as you prefer along with pivoting between timeline and table views. Plus, with its customizing feature, the drag-and-drop editor helps you browse through extensive templates and pick out the right one for you.
Moreover, ProductPlan also offers features such as “comment and mention” that allow you to post status updates, tag teammates, and ask queries directly. And if you find any trouble using this tool, you can check out the product management blog that they have.
Price: ProductPlan pricing starts at $39/editor per month in a basic plan.
7. Aha!
Founded: 2013
Ratings: 4.0
Aha! Website
Topping the list of best road mapping tools is Aha! which is a web-based product strategy that gives you a proper and complete understanding of all the requirements and functioning of your product and how it can be improved for future purposes. Aha! plays a very important role in making the job of product manager easy.
Here, you get tons of product roadmap templates, and portals to manage and gather ideas along with feedback. It is integrated with Asana, Azure DevOps, Google Analytics, Github, Salesforce, and many more. With Aha! you can smoothly share roadmap options for collaboration.
Price: The pricing of Aha! starts with $59/ month for each user.
8. airfocus
Founded: 2017
Ratings: 5
airfocus Website
Another widely preferred product management tool is Airfocus which offers both modern as well as modular product road mapping. Here, you can find the complete product solution for your team and smoothly manage the strategies, work prioritization, build roadmaps and efficiently connect the feedback to the right solution.
This platform helps you customize the features as per your requirements and does not disrupt the usual team proceedings. Airfocus comes with several amazing features such as road mapping which is mainly to align your team and work towards a fixed goal and have insights from teammates to highlight the core issues and work on them.
It is the first ever modular product platform that works to discover, plan and provide promising solutions.
Price: Airfocus offers paid plans that start with $15/editor per month and provide numerous integrations.
9. Jira
Founded: 2002
Ratings: 4.4
Jira Software Website
Being an amazing project management tool, Jira is the first choice for everyone with agile and scrum software development teams. It comes with issue and bug tracking features. This Atlassian product tool works pretty well with over-the-top tasks and customers’ feature tickets.
It is built with features such as scrum and kanban boards, and built-in workflow automation, to create a roadmap for better communication of product strategy and a detailed analysis of the overall team performance.
Price: Jira offers a free plan for a maximum of 10 users after that, it charges $7/user per month.
10. Typeform
Founded: 2012
Ratings: 4.0
Typeform Website
When it comes to gathering user feedback for your product, whether it’s an employee-facing initiative or gathering external customers, Typeform is a great survey tool to prefer. This tool is famous for its human-centricity and conducts quick, cost-effective, and on-board scale customer feedback.
The question that Typeform asks in its surveys is always designed conversationally so users can connect with it. And users get time to respond with thoughtful answers as they receive one question at a time.
In addition to this, Typeform comes with a great product category and an extensive template library. It provides easy guides for its customers to properly understand and function.
Price: Typeform offers three price plans which are a basic plan which costs $25/month, plus a plan of $50/month, and a business plan of $83/month.
11. Slack
Founded: 2013
Ratings: 4.7
Slack Website
Along with a good project management feature, Slack provides a great solution for better communication flow and day-to-day coordination among teammates. This tool is pretty handy and comes up with the facilities like private instant messaging, group chats and channels, and voice and video calls.
Moreover, using the Slack Clip feature, you can show your work, share instructions as well as tutorials, and give product demos. Plus, it enables file sharing and is integrated with tons of apps and tools. Slack is considered the perfect platform for communication among teammates.
Price: Slack pricing starts at $6.67 per month and goes up to $12.50 per month.
The above graph shows the amount of time spent by a product manager on different tasks in percentage as per the data shared by Mckinsey product management index
In conclusion, we can say that using a good and effective product management tool makes it very easy for teammates to easily collaborate, ensure optimal workflows, and have a data-driven approach to building products.
And finding the right one could be difficult but starting with this article, you can pick out the right product management tool that fulfills all your requirements.
FAQs
What are the three major areas of product management?
The three main are of product management are product vision, product development, and product marketing.
Does Google have a product management tool?
Google does not have a single dedicated product management tool, instead, few of its tools can be used as a part of a product management system. Google apps like Google Docs, Google Sheets, etc can be used in product management.
What tools should a product manager use?
There are many tools that are needed by the product manager. Some of them are user tracking and analyzing tools, road mapping software, customer survey tools, production management software, etc.
Can Jira be used for product management?
Yes, Jira is completely made to be used as a product management tool. It is counted in the list of best product management tools.
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 Pinterest.
Who doesn’t use a social network? Can anyone claim that they have no idea about social media? It is almost impossible in this generation. Because social media has crossed the stage of mere entertainment, it teaches people, offers them numerous ideas for growth, assists them in times of need, and creates a platform for them to make money.
The growth in the number of people using social media is reaching new heights every year. Reports show that 2.73 billion people were using social platforms five years ago. This number has almost doubled in 2022 to 4.59 billion. It is further predicted that, by 2027, these social media users will increase to almost 6 billion.
The age of wasting-time-on-social media has gone. They have evolved to the world’s needs and have become productively entertaining. Pinterest serves as one of the best examples of a prolific platform. It helps people share and develop ideas on anything and everything of their interest. Pinterest had created a global market and positioned itself firmly in a short span of 12 years since its inception in 2010.
An inspiring and interesting story of Pinterest lies ahead. Lets’s know more about the company’s financials, founders, growth, and challenges over the years.
Pinterest is a social media network that helps people to hunt for ideas and inspirations for their day-to-day activities like hobbies, work, and interests. It is termed the ‘catalogue of ideas’ by the founders, which uses images, videos, and GIFs to share and explore thoughts. You can create a pinboard with pictures, connect with people who share the same interests, like and comment on their opinions, etc.
Pinterest, often described as a Virtual Search Engine, was established in 2010in San Francisco, California. As of 2022, the company has over 436 million Monthly Average Users (MAU). This number is showing consistent growth every year. Pinterest is valued at more than $12 billion and is the 14th largest social media network in the world in terms of MAU.
Pinterest, in simple terms, acts like a virtual pinboard that helps you bookmark or pin posts on your interests and important topics. This pinboard enables you to remember and retain the ideas and posts for later reference. For example, if you require travel ideas, you can create a travel pinboard and search for related topics. Add the posts and images of your liking to this board so you can try them later. You can also chat with other users and exchange thoughts you are good at.
Pinterest – Founders and Team
Pinterest has three founders, Ben Silbermann, Paul Sciarra, and Evan Sharp, who today occupy some of the top positions in the company. Below are some of the brief descriptions of the founders and the CEO of Pinterest:
Ben Silbermann
Ben Silbermann – Co-founder of Pinterest
Ben Silbermann is the co-founder who laid the foundation for Pinterest. He was born in a doctor’s family on 14th July 1982. Ben is a graduate of political science from Yale University. He earlier served as the CEO of Pinterest since its inception in 2010. In June 2022, he stepped down from the position to become the company’s new Executive Chairman.
Evan Sharp
Evan Sharp – Co-founder of Pinterest
Evan Sharp is also the founder of Pinterest. Besides being a founder, Evan also worked as the Chief Designer and Creative Officer of Pinterest. He currently resides as a Board Member of the company. Evan was born and brought up in York, Pennsylvania and holds a bachelor’s degree from the University of Chicago in History.
Paul Sciarra
Paul Sciarra – Co-founder of Pinterest
Paul Sciarra is the third founder of Pinterest. He lent great support to Ben early in this platform’s development. Paul, however, left the company in 2012. He is a graduate of Yale University. Paul also serves as the founder of Cold Brew Labs, a social applications tool, and the present executive chairman of Joby Aviation.
Bill Ready
Bill Ready – CEO of Pinterest
Bill Ready took up the position of Chief Executive Officer after Ben Silbermann stepped down from his position. He is a Master’s graduate in Business Administration from Harvard Business School. Bill possesses two decades of work experience in the field of management. He has served the top positions in PayPal, Google, Braintree, Venmo, ADP, Accel Partners, McKinsey & Company, and a few more.
Pinterest – Startup Story
What can the establishment of Pinterest be called? Accidental or destiny? Because its founder Ben Silbermann was meant to be a doctor. Everyone in his entire family is a doctor, and he believed he would be one too. But his interests in business and entrepreneurs pulled him toward Silicon Valley. The buzzing techies inspired him in the Bay area. As a result, Ben found a job at Google as a Product Specialist. Since he had his qualification in a non-engineering field, he couldn’t grow in the company as a developer.
Finally, with encouragement from his girlfriend, Ben started developing his tool. He joined hands with a colleague Paul Sciarra to conceive a tool called Tote. But it suffered from technical difficulties. Also, the founders faced huge struggles in finding investors and in the end, they found one. They used those funds to develop a new platform named Pinterest. The beta version was launched, and the founders consistently enhanced the tool to make it one of the largest in the world.
Pinterest’s mission is to “bring everyone the inspiration to create a life they love.” The company doesn’t want its users to always stay online. It wants them to get inspired and move towards implementing those ideas. Pinterest aims to unite the people of this world through its platform and wants to encourage them to do what they love through its catalogue of ideas.
Pinterest – Name, Logo, and Tagline
Pinterest Logo
The name Pinterest was proposed by Ben Silbermann’s girlfriend (now wife). This term combines ‘Pin’ and ‘Interest,’ meaning that the users can pin their areas of interest to the pinboard from the most favourite topics and pictures from this social networking platform.
The company’s tagline says, “When it comes to a great idea, you know it when you see it”.
Pinterest – Business and Revenue Model
Pinterest Ads
Pinterest operates with a business model of supplying users with information, ideas, recipes, etc. It provides them with the option of pins and boards to store necessary data and explore later. This platform carries all the information and thoughts that one might need at any moment of their life. Not only Pinterest, but people using this social network can also make money through formal affiliations.
Pinterest’s revenue flows in through advertisements. The company generates revenue through the different types of ads it displays on its site. The ‘Promoted Pin’ model of the campaign was highly successful for the company in revenue generation.
Pinterest faced several criticisms over the years. Since it is a photo-sharing platform, it often has to deal with the issue of copyright violations. To tackle this, Pinterest launched a notification system to report such acts. But, this became the centre of controversy when DMCA condemned the company’s action, saying that it seems the company is encouraging users to violate intellectual property rights. Other companies like Getty Images and iStock have also reported copyright violations against Pinterest.
The company paved the way for scammers. These people started using well-known brand names and advertised to offer free gift cards for users. They made the users believe in having clicked the official brand’s link but redirected them to an external site and gathered their personal data.
The Chinese government banned Pinterest without any intimation in March 2017. It was due to some political reasons and for promoting Chinese products. Even India temporarily banned Pinterest in 2016 due to copyright infringement and online piracy.
The employees of Pinterest raised their voices against the company regarding gender and racial discrimination. The company faced a lawsuit against this issue and fixed it by making settlements with employees and improving its work policy.
As said earlier, Pinterest struggled with its early fundraising. But, that was not the case once it found its initial investor. Once the company started to grow, many investors came knocking on the doors of Pinterest to provide financial assistance. That way, Pinterest secured $1.5 billion through 26 funding rounds over the years. The company also launched its IPO in April 2019, where it raised roughly around $1.4 billion at a valuation of $12.7 billion. The following are some of the top and most recent funding rounds of Pinterest:
Date
Funding Round
Amount
Name of the Investor
July 14, 2022
Post-IPO Equity
–
Elliott Management
January 1, 2020
Post-IPO Equity
–
Elliott Management
January 28, 2019
Secondary Market
–
Light Street Capital
July 19, 2018
Secondary Market
–
Founders Future
March 10, 2018
Secondary Market
–
–
October 17, 2017
Venture Round
$20M
Brandtech Ventures
September 18, 2017
Secondary Market
–
SharesPost Investments, All Blue Capital
August 10, 2017
Secondary Market
–
Manhattan Venture Partners
June 26, 2017
Secondary Market
–
Biz Stone
June 6, 2017
Venture Round
$150M
Sinai Ventures
Pinterest – Acquisitions
Pinterest has made over 18 acquisitions and here is the list of its most recent acquisitions:
Date
Name of the Company
Amount
June 2, 2022
The Yes
–
December 6, 2021
VOCHI
–
March 9, 2017
Jelly
–
March 8, 2017
Jelly HQ
–
August 23, 2016
Instapaper
–
July 15, 2016
Math Camp
–
June 22, 2016
Tote
–
June 15 2016
Fleksy Inc.
–
May 3, 2016
URX
–
April 21, 2016
Curator & Co
–
October 2013
Hackermeter
–
March 2013
Livestar
–
Pinterest – Users
Pinterest, launched in March 2010, was the fastest site in history to reach 10 million unique monthly visitors and high user engagement metrics. It crossed the 10 million users mark in the year 2012. Soon, in 2015, the platform crossed the amazing mark of 100 million monthly active users. As of the second quarter of 2022, Pinterest had 433 million monthly active users.
Of these numbers, more than 76% of the users are women. Reports claim that only 16% of men and 8% of unspecified category marks the rest of Pinterest users worldwide.
Pinterest – Growth
Pinterest Annual Revenue Worldwide from 2016 to 2021
After defeating the initial financial struggles, Pinterest started rolling out its platform in early 2010. The company managed to bring in around 10,000 users in the first year. The founder, Ben Silbermann, made every effort to increase the user count. In 2011, Pinterest launched the iPhone app, which resulted in more users utilizing this platform.
By the end of 2011, Pinterest became the 10th largest social media network with a weekly visitors count of 11 million. The company grew financially strong along with the growth of its customers. Due to the consistent backing from investors, Pinterest was valued at around $12.7 billion and raised $1.4 billion during its IPO. The growth of this social networking company caught the attention of various big market players. In fact, PayPal tried to acquire Pinterest but revoked its decision later.
Reaching such an enormous height within 12 years isn’t that easy. Pinterest today has around 436 million monthly average users and reported total revenue of over $2.58 billion in the 2021 fiscal year.
In its recent annual advertiser’s summit, Pinterest announced its plans to start a service closer to the eCommerce platform. This helps the users to shop for the advertised products and services directly from the Pinterest app or site. As the first step to this, the company has introducedAPI for Shopping and product tagging for Pins. Pinterest wanted to create an engaging and smooth shopping experience for merchants and in turn, for the users as well.
FAQs
What makes Pinterest successful?
Pinterest is a unique photo-sharing platform where users can curate personal pinboards with existing photos and photos uploaded by others.
How do I get people to see my Pinterest?
You will have to do the following things to get your Pins more views:
Pin relevant and trending topics
Upload 3-4 Pins related to the topic with different Title and Description
Do Image SEO by adding relevant keywords in the title and description.
Save Pins to the relevant board
Experiment different pins
Pins with relevant links
What kind of content works on Pinterest?
Mainly the following types of content work better on Pinterest:
Infographics
Guides
Products
Recipes
Quotes
What is the right size for the pins?
Pins in vertical mode work best. The best aspect ratio for the pins is 2:3 or 1:3:5 with a minimum of 600 pixels and 900 pixels wide.
What makes a good Pin?
You can use the following points to make visually attracting pins:
Optimal Size of the Image
High-Quality Image
Correct Logo Placement
Texts in Bold
Promoted Pins
How much it takes to grow on Pinterest?
Generally, it takes 5-6 months to grow on Pinterest with the help of consistent and strategic Pinterest marketing.
The year was 1872 when the first official football match was played between England and Scotland. From there on, football spread across Europe, giving birth to the Scottish Football Association in 1873. This was the second National Football Association, the first one being the Football Association, as the world’s only governing body for regulating the game.
As the love of the game spread, and the number of international matches increased, there emerged a need to set up a global governing body and FIFA (Federation Internationale de Football Association) was founded on May 21st, 1904 in Paris. It is one of the oldest and largest NGOs in the world. It united the Football governing bodies of France, Belgium, Denmark, Netherlands, Spain, Sweden, Germany, and Switzerland.
FIFA continued to grow and expand in federations and influence. The first non-European member to join FIFA was South Africa in 1909. In 1912, Argentina and Chile joined, and the US and Canada joined just before World War I in 1913. Since then, FIFA has continued to grow, being able to monopolize international matches. FIFA currently has 211 member associations. According to its official website, FIFA is “modernising football to be global, accessible and inclusive in all aspects. Not just on one or two continents, but everywhere.”
As a non-profit organisation, FIFA invests a large portion of its earnings back into the development of the game. Having said that, FIFA also has tremendous revenue-generating power. Most of FIFA’s earnings come from organising and marketing major international competitions, continental championships, and the FIFA Confederations Cup. The most popular competitions are the Men’s and Women’s World Cups, which are played every four years.
The World Cups are one of the biggest events across the globe and also one of FIFA’s primary sources of revenue. There are other sources like television rights, marketing rights, hospitality and ticketing rights, and licensing rights that generate revenue for the federation. FIFA also makes strong efforts in minimizing costs, which allows for the majority of their revenues free to be reinvested in the development of Football.
Television Rights
The competition for broadcasting rights between television stations is often serious due to the global popularity of the sport. FIFA gives the rights once the negotiation between the television station and the federation is completed. FIFA is generally able to win its demands due to the sport’s large fan following.
Marketing Rights
FIFA’s revenue generated from selling marketing rights is expressively high and it is also one of the major reasons for the increased corruption. This revenue is generally generated in the four years, leading up to the World Cup.
Hospitality and Ticketing Rights
FIFA’s direct subsidiary company enjoys 100% of the ticket sale rights. The federation also generates significant revenues from hospitality and accommodation rights.
Licensing Rights
The four-year period between the World Cups generates a large sum as licencing rights for FIFA, increasing every year as the World Cup draws near. This amount of the licensing fees includes the sale of brand licensing contracts, royalty payments, etc.
Revenue of International Federation of Association Football (FIFA) from 2015 to 2021
To host the FIFA World Cup, which takes place every four years, countries enter into a bidding war against each other in a harsh competition, after which the host country is decided by the federation. Each World Cup attracts a large audience, domestic and foreign. This puts huge pressure on the country’s infrastructure.
However, it also attracts investors, facilitating financial development. The World Cup also acts as a catalyst to attract more tourism to the host country. The FIFA World Cup elevates the global economy by creating jobs, generating billions in total economic activity, and strengthens economic development opportunities by generating tax revenues for local communities, not only in the host country but across the countries where the sport is most celebrated.
A few facts on how FIFA affects the global economy are:
More than half the population of the globe either tunes in or travels to the host country to watch the FIFA World Cup.
Figures indicate that the FIFA World Cup of 2002 generated a revenue of USD 9 billion for Japan and South Korea, USD 12 billion for Germany in 2006 and USD 5 billion for South Africa in 2010.
222,000 jobs in Russia were created and supported by the FIFA World Cup.
However, wherever there are advantages, there are also disadvantages. There are ways in which FIFA also negatively impacts the local economy of the country hosting the World Cup.
Alternate expenses are not considered as the money which people would have otherwise spent on other activities like holidays, dinners and movies are diverted towards football.
FIFA has a whole host of conditions for the country hosting the World Cup, like state of the art stadiums, hotel accommodations for the players, etc., which are borne by the government and can run into large sums. This puts stress on the country’s economy.
A large part of the earnings from hosting the World Cup is taken by FIFA. The host country rarely gets any part of the profit. This results in the host country bearing the expenses while FIFA gets the profits.
Economists argue that the boost to tourism is only temporary, which falls back to previous levels once the World Cup event is over. This does not significantly affect the tourism industry.
The biggest loss to the host government is the tax it might have earned on FIFA’s earnings. However, whatever FIFA earns is tax-free and the government loses significant earnings.
According to a report, many economists have questioned FIFA’s practice of bidding for selecting the host country for the FIFA World Cup. They have not been able to find any conclusive benefits of hosting the event.
Conclusion
As long as there is a craze associated with Football and the World Cup, FIFA will continue to exert its power over countries who are willing to host the World Cup event. Although FIFA receives many complaints over its bidding process or the resultant corruption, the sport itself enjoys a large fan base across the globe. FIFA is working towards making its bidding process more transparent and significantly reducing corruption. They are also working towards improving sponsorship levels as well as continuing to work for the betterment of the game.
FAQs
How FIFA makes money?
Around 95% of FIFA’s revenue comes from:
Selling Television Rights
Marketing Rights
Hospitality and Ticket Rights
Licensing Rights
Is hosting FIFA profitable?
The major source of profit in the FIFA World Cup comes from selling tickets and television rights. However, the profit generated here is taken by FIFA and the host country does not get a part in it.
What does FIFA do with their money?
FIFA runs and generates profits in a four-year cycle. FIFA spends most of its money on the development of football all around the world.
In which country FIFA 2022 will be held?
The 2022 FIFA World Cup is scheduled from 20th November 2022 to 18th December 2022 in Qatar.
CodeGym, an online education platform, has announced the launch of its Java programming course with a 100% job guarantee.
The course is designed for students who want to pursue a career in software development and aims to provide them with the skills and knowledge necessary to secure a job in the industry. This can be a game-changing development for India’s vast population of young people who are struggling to find employment.
Exploding job market
With more than 100,000 openings on Naukri alone, the demand for Java developers in India is skyrocketing. Despite that, employment rates for fresh graduates remain abysmally low at around 10%. For most students, the only way to secure a job is through family connections or expensive coaching centers.
Because of this, the tech market is experiencing serious shortages of skilled workers and is losing the recruiting battle to global capability centers. These centers represent a brain drain for India, as they often lure away top talent with the promise of better salaries and working conditions.
Even still, more than 14,000 startups were launched in 2021, making it the third-largest startup ecosystem in the world. The business continues to boom, and the job market will continue to grow along with it.
Education remains an obstacle
The main obstacle to employment for many young people in India is the lack of quality education. While the country boasts some of the best institutions in the world, such as the Indian Institutes of Technology (IITs), a majority of students attending these schools come from wealthy families.
As a result, lower-income students are forced to attend second-rate colleges that do not provide them with the skills they need to succeed in the job market. In addition, the vast majority of colleges in India do not have adequate facilities or experienced teachers.
This is a serious issue because it means that up to 80% of graduates cannot find employment. After all, they do not meet job requirements. Despite receiving plenty of education, they are not able to get jobs because they don’t have the skills employers are looking for.
Why Java?
Java is one of the most popular programming languages in the world and is used by some of the largest companies, such as Amazon, Google, and Facebook. It is also the language of choice for Android development. Because of its popularity, learning Java can make it easier to find a job in the tech industry.
High demand, low competition
No matter how many graduates are churned out, the number of people with the skillset required to work in the tech industry will always be low relative to demand. New applications and technologies are being created every day, and there is a constant need for people who can develop and maintain them.
In India, the number of graduates with the skills necessary to work in the tech industry is even lower because of the poor quality of education. As a result, those who do have the right skill set are in high demand and can often negotiate a higher salary and better working conditions.
Huge salary upside
The career path of a Java developer can provide significant financial rewards. Some companies are willing to pay 7, 10, or even 25 LPA for a senior developer, which is ten times the average Indian salary. In addition, many developers can find employment outside of India, where salaries can be even higher.
While the starting salary for a Java developer is not as high as that of a doctor or an engineer, the upside is much greater. A Java developer with 5 years of experience can easily earn more than an engineer with the same amount of experience.
Job security
The demand for Java developers is not going to decrease anytime soon. It is only going to increase as more and more companies move towards digitalization. More than 1.1 billion Indians will have internet access by 2025, leading to higher demand for new applications and support.
This means that those who have the skillset will be able to find secure and well-paying jobs for years to come.
While other industries were impacted heavily by the COVID-19 pandemic, hiring for IT-related positions in India has continued unabated. Once you have the necessary skills, you can be confident that you will be able to find work.
CodeGym Java University
The CodeGym Java University course is designed to give students the skills they need to pursue a career in software development, and it is done with the help of experienced mentors.
The fundamentals course takes place entirely online, is designed to take 12 months, and is divided into several main stages:
Java Syntax: In this stage, students will learn the basics of the Java programming language. This includes learning how to write code, compile it, and run it.
Java Core: In this stage, students will learn more advanced topics in Java. This includes object-oriented programming, exception handling, and collections.
Final project: After solving 576 practical tasks, you will be asked to create a project of your own. The project will be graded by experienced developers, and upon successful completion, you will receive a certificate from CodeGym.
Also, in the program there are topics like Spring and Spring Boot, Hibernate, Databases, etc.
Mentor-led instruction
One of the key features of CodeGym is live mentor instruction. Throughout the course, you will be assigned a personal mentor who will help you with the material and provide feedback on your progress.
Your mentor will be an experienced Java programmer who can answer any questions you have about the language or the industry. In addition, they will be able to help you with your final project and give you tips on how to make it successful.
This one-on-one instruction from a qualified developer is exactly the thing that has held back the Indian educational system in the past and led to so many unprepared graduates.
Anyone can be a developer
The core principle of every CodeGym course is that anyone can learn to code. The course is designed in such a way that it can be completed by people of all backgrounds and experience levels. Whether you are a complete beginner or have some experience with coding, the course will be able to take you to the next level.
In addition, the CodeGym team provides 24/7 support to students who need help with the course material. Students can also connect through the Slack chat, where they can ask questions and help each other out.
100% Job Guarantee
Once you have completed the course, CodeGym will help you find a job in Java programming. You will finally have the necessary skills and experience to chase down one of the thousands of openings in India and around the world.
The 100% job guarantee is a fantastic opportunity for those who want to pursue a career in programming but are struggling to find employment. With the help of CodeGym, you can be sure that you will be able to find a job in the industry.
Final thoughts
If you are a student in India who is interested in pursuing a career in programming, CodeGym’s Java University course is the perfect way to get started. With its 100% job guarantee and mentor-led instruction, you can be sure that you will be able to find a job in the industry.
Pratyusha Srivastava
