The most effective way to market a company, its products and services is having a brand ambassador. The brand ambassador must portray all the brand values that the company stands for, endorse the company to the fullest ability and help boost consumer sales. An actor that has global fan following for many years is Aamir Khan, as he was also described as the biggest movie star in the world by Newsweek.
Aamir Khan, born as Mohammed Aamir Hussain Khan, is a prominent Indian actor, director, filmmaker, along with being the host of a popular television talk show host. The actor has won numerous awards and accolades such as Filmfare awards, National Film Awards, AACTA award and has also been awarded the Padma Shri and Padma Bhushan by the Government of India.
For many years, Aamir Khan has been listed in the 500 Most Influential Muslims Of The World. The actor is known for his work in movies like Raja Hindustani, Fanaa, Sarfarosh, Lagaan, Taare Zameen Par, Rang De Basanti, PK, Dangal, 3 Idiots, Ghajini, etc. Apart from his acting career, Aamir has also created and hosted the television talk show Satyamev Jayate which became popular for highlighting sensitive social issues in India and occasionally influencing the Indian government.
The actor’s work as a social reformer, tackling issues ranging from poverty and education to abuse and discrimination, made him appear on the list of Time’s 100 most influential people in the world. Aamir Khan is always in demand by the advertisers and is known to charge over Rs. 5 to Rs. 7 crore for each endorsements.
The net worth of the actor was last reported to be $225 million in 2021, while the brand value of Aamir was estimated to be $24.9 million in 2020. Some of the brands endorsed by Aamir Khan are Coca-Cola, Samsung, Tata Sky, Snapdeal, Vivo, UNICEF, “Athithi Devo Bhavah”, Godrej, Datsun, Titan Watches, Etisalat mobile, Vedantu, PhonePe, CEAT Limited, Starplus, Walkaroo among others.
Here is a List of brands that the celebrity film star Aamir Khan is associated with:
PharmEasy
Aamir Khan, as the PharmEasy brand ambassador, launched a campaign on April 1, 2022, where the celebrated actor endorsed the Indian pharmacy company across different platforms. #GharBaitheBaitheTakeItEasy is the name of the campaign of which Aamir is a part.
Vivo India
Vivo is a Chinese tech company that has headquarters based in Dongguan, Guangdong. The company is a subsidiary of BBK Electronics and designs & develops many well-known smartphones, smartphone accessories, software, and online services. Vivo is an independent company and develops its own products as it has its own R&D centres in China and over 10,000 employees.
The company is currently the third largest mobile brand in India with over 10% of the market share. Vivo is behind companies like Xiaomi and Samsung but is ahead of Oppo and Lenovo in terms of market rating. The company signed Aamir Khan as its brand ambassador in 2018.
Kenny Zeng, Vivo India’s CMO said, “The company is thrilled about the upcoming possibilities that our partnership with one of the world’s biggest superstars, Aamir Khan, will open up in the country.” He also added that with the help of the actor the company to explore newer avenues to reach customers as it scripts its future growth strategy in India.
Snapdeal
Snapdeal is an Indian e-commerce company that has its headquarters in New Delhi. The company was found in 2010 by Kunal Bahl and Rohit Bansal. Snapdeal is known to be the country’s largest online marketplace, with over 60 million plus products from 800 different categories from regional, national and international brands and retailers.
The company has more than 300,000 and delivers to over 6000 plus cities and towns in India. Snapdeal signed Aamir Khan as its brand ambassador for a year and was a part of the company’s multimedia campaign. In the commercial sector, the actor can be seen encouraging entrepreneurship in the country by asking more sellers to list and sell on Snapdeal.
Vedantu is an Indian Ed-tech company, the popular platform allows its teachers to tutor the students online using a real time virtual learning environment named WAVE an in-house built technology. The app operates on a marketplace model for teachers where students can browse, discover and choose to learn from an online teacher.
The Bengaluru-headquartered company was launched in 2014 and was founded by Vamsi Krishna, Pulkit Jain, Saurabh Saxena, and Anand Prakash. The company signed Aamir Khan as its brand ambassador and has since then been a part of its multimedia ad campaign that showcases the pros of the platform.
Shivani Suri, the CMO of Vedantu said, “The campaign is focused on reaching out to parents and addressing their valid concerns with respect to online learning through a series of very relatable commercials, which will resonate with them.” She also added that Aamir Khan as a brand ambassador perfectly embodies the role of an involved parent while bringing his own charm to the character.
Godrej Group
Godrej Group is one of India’s most-trusted multinational conglomerates that has its headquarters in Mumbai, Maharashtra. The company was founded in 1897 and is currently in sectors such as real estate, consumer products, industrial engineering, appliances, furniture, security, and even agricultural products.
Some of its well-known subsidiaries are Godrej Industries, Godrej Consumer Products, Godrej Agrovet, Godrej Properties, and Godrej & Boyce. Godrej has also been changing and redefining the marketplace with its innovative ideas and this has also been reflected in its marketing and branding strategies. This is why the company signed Aamir Khan in 2018.
Since then, the actor is the face of its Har Idea Se Zindagi Muskuraye / Ideas that make life brighter ad campaigns. In an interview, Aamir said, “Godrej is a company which has always stood for the highest in quality and dependability, along with being one of the most modern and innovative brands, constantly ahead of the pack.” He also added that he loved the creative idea of this campaign, it is challenging and full of fun and humor.
Datsun is a popular automotive brand that is owned by Nissan that started production in 1931. The company is well known for its high-quality yet low-cost vehicles manufactured especially for the upcoming markets. A few of the popular models are 510, Fairlady roadsters, and the Z and ZX coupés.
Datsun started selling its vehicles in countries like Indonesia, Russia, India, Nepal, and South Africa in 2014. The company also has built a Renault-Nissan plant in Chennai. Datsun India signed Aamir Khan as its brand ambassador in 2020, the actor is featured in some of the multimedia ads of the ‘ExperienceChange’ campaign.
Commenting on the decision to make Aamir its brand ambassador, Thomas Kuehl, the president of Nissan India operations said that, the actor advocates the bold and fearless attitude of the new generation who strive for excellence and embodies the spirit of Datsun. We are proud to have the actor onboard and be the face of our new campaign.
Samsung Electronics
Samsung Group is a South Korean multinational company that has its headquarters in Samsung town, Seoul. The company became a conglomerate after it diversified into areas like food processing, textiles, insurance, securities, and retail. As of 2020, the company has the 8th highest global brand value.
The company entered the electronic industry in the late 1960s and since then has kept growing consistently becoming the world’s largest manufacturer of mobile phones, television, and smartphones by 2021. Samsung Electronics account for 70% of the group revenue in 2012 thanks to its successful Galaxy series.
Samsung Electronics is currently available in 74 countries and has over 290,000 employees making it the world’s second-largest technology company by revenue. Samsung India made Aamir Khan as its brand ambassador for its smartphones back in 2008.
Commenting on the deal, H.B Lee the president and CEO of Samsung South West said that, “The Samsung brand stands for qualities of innovation, change, discovery, self-expression and excellence in performance. And these very same qualities are epitomised by Aamir Khan, whose quality and depth of work as well as versatility as an actor have made him a much loved and respected actor in India today. We are indeed very proud and privileged to have him as our brand ambassador.”
TataSky is the largest Indian Direct broadcast satellite service provider in the country. The company uses MPEG-4 digital compression technology and transmits using INSAT-4A and GSAT-10 satellites. TataSky is a joint venture between the Tata Group and the 21stCentury Fox which is owned by Walt Disney Company.
The company currently offers more than 600 channels which include 495 SD and 99 HD channels and services along with other active services to its customers. TataSky made Aamir Khan its brand ambassador in 2008, and since then the actor has been featured in all TataSky brand and product communication, including advertisements on TV, print, and radio.
Vikram Kaushik, the CEO and Managing Director of TataSky said that the actor perfectly fits the brand as our brand ambassador and will be instrumental in communicating the benefits of TataSky to consumers across the country.
PhonePe
PhonePe is one of the top Indian Fintech companies known for digital payments and financial services applications. The company has its headquarters in Bengaluru, Karnataka, and was founded by Sameer Nigam, Rahul Chari, and Burzin Engineer in 2015.
The app offers services such as sending and receiving money, recharging mobile, DTH, data cards, making utility payments, paying at shops, investing in tax-saving funds, liquid Funds, buying insurance, and mutual funds made accessible in 11 different Indian languages. It also provides additional services such as booking Ola rides, paying for Redbus tickets, and even booking flights and hotels on Goibibo.
PhonePe currently has more than offline and online merchant outlets across 500 cities in India allowing its customer to use the app for food, travel, groceries, medicines, movie tickets, etc. The company currently has more than 280 million users and also launched the PhonePe ATM in 2020. PhonePe signed Aamir Khan along with Alia Bhatt as its brand ambassador in 2019.
Since then, the two actors have appeared in many multimedia ad campaigns, showcasing a skeptical Aamir Khan gradually getting convinced by Alia Bhatt to become a PhonePe customer.
The six commercials with two actors showcase a storyline, where a skeptical Aamir Khan can be seen gradually getting convinced by Alia Bhatt to become a PhonePe customer. These ads have only one objective, which is to introduce digital payments, and explain the benefits, ease of use, and safety.
Starplus is a popular Indian entertainment television channel that is owned by Star India which is a subsidiary of Walt Disney. The network has programs in genres such as family dramas, comedies, youth-oriented reality shows, and television films. The channel was in 1991 and was initially an English language entertainment channel that broadcasted international shows from the US, UK, Australia, New Zealand, etc.
After the introduction of Star World, becoming the network’s English-language counterpart channel, Starplus became the Hindi language in 2000 and is currently one of the top channels in India.
In 2016, the channel made a campaign with many thought-provoking ads and programs with the tagline Nayi Soch which means new thinking, in order to inspire social change. Star plus signed Aamir Khan to be the face of the campaign and the actor has since then appeared in many commercials of the popular Nayi Soch campaign.
Walkaroo
Walkaroo is an Indian footwear brand that belongs to the U4ic International, a VKC group subsidiary. Over the past five eras, the brand has grown tremendously because of its marketing strategy which encompasses retail and e-commerce. Walkaroo currently has four company-owned and franchise stores in South Indian states and is also planning to extend into the northern states.
The brand was launched in 2013 and originally catered to the footwear space with made-in-house sports sandals, but later expanded its product portfolio with Flip-flops, casual shoes, sandals and loafers at affordable process.
The company announced Aamir Khan as the brand ambassador for Walkaroo in 2019, the actor has been featured in a multi-media campaign known as “Be Restless” in order to reach a younger target audience. In an interview, Aamir Khan said, he is thrilled to be a part of Walkaroo’s journey of making youth across India move ahead confidently and comfortably.
Aamir Khan is fondly called Mr Perfectionist in the industry as the actor quality over quality and also only endorses one brand at a time. The actor has spent over three decades in the film industry and is known not only for his movies, but also for his brand associations. Aamir Khan has proudly in some of the most iconic television commercials endorsing brands.
As a social reformer, Aamir has also endorsed meaningful campaigns like “Athithi Devo Bhavah”, UNICEF to promote child nutrition, the IEC campaign to raise awareness about malnutrition, and Starplus’s Nayi Soch to inspire social change. But besides that, the actor is known to be highly selective in the big commercial brands that he endorses. Currently, many new brands are approaching the actor to rope him in as their brand ambassadors in order to attract audiences of all age groups.
FAQs
Who is Aamir Khan?
Aamir Khan born as Mohammed Aamir Hussain Khan is one of the most popular Indian actor, director, filmmaker, and also a television talk show host.
What is the brand value of Aamir Khan?
The brand value of Aamir Khan was over $24.9 million in 2020.
Ola is a Bengaluru-based ride-sharing company that only a few people are ignorant of. Ever since Ola cabs became operational in all the major cities throughout India, it has become our go-to option. Along with the US-based Uber, Ola is one of the most dominating ride-sharing companies that offers the users a wide range of vehicles and renting options to choose from!
India’s leading mobility platform, Ola has been operating since 2010, when it was founded and has already streamlined its ride-booking and car renting service and its different modes throughout these years with a focus on its users to add to its growth.
Now, Ola has also chosen to empower sustainable development and therefore, came up with its unique concept of “e-scooters” or what we term as “electric scooters”. With Ankit Jain, Anand Shah, Bhavish Aggarwal, and Ankit Bhati as Co-founders, Ola Electric was founded in 2017 and is set to conquer the world with its unique electric vehicles. However, except for Bhavish Aggarwal, everyone else has stepped down from being Co-founders and has also exited the firm eventually. The Founder and CEO of Ola, is also the CEO of Ola Electric, along with being its Founder.
If you have already heard about them and are curious to learn everything about electric scooters, then you can keep this article handy because here we bring you all that you would like to know about these vehicles, including Ola electric scooter booking, Ola E-vehicle price, Ola Electric scooter price Bangalore, Ola Electric scooter range, Ola Electric scooter specifications, Ola charging scooter, Ola Electric scooter helmet and more.
Why Ola Electric Scooter is much like a “Revolution on two wheels”?
Yes, coming up with Ola electric scooters will certainly help people lose track of the rising costs of fossil fuels and all the morbid thoughts about the exhaustion of our fossil fuel reserves and their likes.
Ola electric is certainly a revolutionary idea and even its tagline says so. The tagline for Ola electric scooter says, “Ready or not, a revolution is coming” along with a motivating hashtag #JoinTheRevolution.
Here are the 3 key features that the Ola Electric scooter boasts of:
Big on Acceleration – The Ola electric scooters would be furnished with acceleration to envy and will allow the users to stay ahead on the road.
High on handling – Along with providing a remarkable acceleration, these bikes are also slick and promise exceptional handling on any surface.
Larger boot space – Ola Electric vehicles also come with a large boot space that is capable of storing two helmets and more important things you would need along the ride.
Ola Electric – Birth of the Entity
Ola has announced that its electricity-powered scooter manufacturing company would be different from its ride-sharing wing. They are two different lines of businesses under ANI Technologies where the former will continue to be a ride-hailing business whereas the latter would be associated with the manufacturing and selling of electric scooters.
Ola Electric Scooters – Built, Colour Variants, Specifications, and Charging
Ola has disclosed that their electric scooters will be made available in 2 versions – the Ola Series S – Ola S1, and the top-of-the-line Ola S1 Pro. The company has already launched S1 and S1 Pro scooters with prices starting from Rs 99,999 and Rs 1,29,999, respectively.
Ola electric acquired Etergo BV back in 2020 and announced that the Ola electric scooter is based on the Etergo Appscooter. The company has already adopted the platform of Etergo to be used in India in order to deliver better performance.
Etergo Appscooter
Looking at the Ola Electric scooter specifications, it is great to announce that the Ola electric scooters paces on 12-inch black alloy wheels. Talking about the design of the vehicles, they are clean and sleek in appearance and devoid of any other redundancies. The Ola e-scooters also feature a twin-pod LED headlamp that has an LED strip running around it.
Ola electric scooter
Furthermore, these also have single-sided telescopic front suspensions and their rear shock absorbers are mounted horizontally, with the disc brakes slotted front and in the rear. The pillion footpegs of the scooter fold flush into the bodywork of the vehicles, and at the back, there are chunky pillion grab handles, ending in clear-lens tail-lights.
These scooters are also claimed to be launched with the largest boot space ever, which are capable of accommodating two half-face helmets and still have space for packing in more.
Ola Electric Scooter boot space
As per the batteries, Ola bikes’ batteries are not swappable types. It will rather run on a standard charging system. The Ola S1 Pro charging time, when charged at home is 6 hours and 30 minutes, while the Ola S1 will be fully charged at home in about 4 hours and 48 minutes.
Ola electric scooter’s riding range for the S1 model is 121 km and for its S1 Pro model, it is around 181 km per charge. The latter also includes the Hyper Mode, which is not present in the former model. However, as per the reports in December 2021, the Ola S1 Pro will have a range of 135 km at full charge, which is the true range of these scooters. The earlier mentioned range by the mobility giant was clarified as the range of the E-scooters only on test conditions.
Ola’s electric scooters are reportedly equipped with a 7.0-inch TFT colour display that will feature in-built navigation, onboard diagnostics, and other infotainment functions, and will be powered by an Android operating system.
Matte black, matte pink, and matte sky blue were some of the colour options that were disclosed by Ola initially. However, currently, the S1 Pro model comes in 10 different colours, which are:
Midnight Blue
Matt Black
Millenial Pink
Liquid Silver
Anthracite Grey
Porcelain White
Neo Mint
Marshmallow
Jet Black
Coral Glam,
On the other hand, the S1 model of Ola Electric scooters comes in 5 colours – Porcelain White, Midnight Blue, Coral Glam, Jet Black, and Marshmallow.
The owners of Ola Electric vehicles will be able to charge their scooters using a standard 5A socket by using the portable 750 W charger that comes with the Ola Electric scooter. Furthermore, you can also charge it at one of its ‘Hypercharger’ charging stations. The company has already announced that it will make the stations live for charging scooters in over 100 cities initially, which will eventually cover over 400 cities.
The first Ola Electric Hypercharger was launched on October 25, 2021, ahead of the planned test drives of the Ola electric vehicles scheduled for November 10, 2021. The S1 test rides of the vehicles have already started, and have received an encouraging response from all across the country, as per the reports of November 20, 2021. Furthermore, after witnessing the overwhelming response that Ola S1 scooters have received, Bhavish Aggarwal, Co-founder and CEO of Ola, has decided to extend the test rides to over 1000 cities by December 15, 2021.
Amazed and proud to see the strong response to our S1 test rides! Thousands of you have tried & loved it! We’re now expanding test rides to 1000+ cities across India by Dec 15. This is the largest direct to consumer outreach in Indian automotive history! #JoinTheRevolutionpic.twitter.com/ErxXkflQzO
Ola Electric has invested in StoreDot and thereby partnered with the Israel-based company that works on batteries to develop them for drones and electric vehicles and replace the lithium-ion component in the batteries. With this partnership, Ola Electric plans to equip its EVs with extremely fast-charging batteries that will be charged from 0-100% in just 5 minutes. The EV giant also happens to eye towards foraying into the battery-making space in India soon. Here goes the latest tweet from Ola Chief on March 21, 2022, when he spoke on the same:
We’re investing big into future cell tech. Excited to announce a strategic partnership with StoreDot of Israel. Will be working together to soon bring to market and manufacture its pioneering extreme fast charging cell tech, capable of charging 0-100% in 5 mins in India. (1/2)
The electric vehicles of Ola are currently manufactured in its electric scooter factory in Tamil Nadu, which has a capacity of producing 2 million vehicles annually and the numbers will rise to 10 million by the end of 2022.
Yes, Ola Electric is in process of building its factory, OLA FutureFactory in Tamil Nadu, which will cover an area of around 500 acres. Having 100 acres of forest cover, 2 acres of forest inside, and with negative carbon footprint, Ola FutureFactory is hailed as the world’s most sustainable two-wheeler factory.
The Ola factory boasts a production capacity of 10 million units per year and will operate with the help of over 3000+ AI-powered robots that will have precision robot welding, an advanced automotive paint shop, 100% in-house battery manufacturing, and more. The FutureFactory of Ola will assemble 25000+ motors per day, which will make it the world’s most advanced two-wheeler factory.
The Ola FutureFactory that is set up at Krishnagiri, Tamil Nadu, is believed to be the world’s largest 2-wheeler factory that is planned with the facilities to roll out 1 vehicle every 2 seconds. Phase 1 of the plant is nearly complete. The FutureFactory of Ola celebrated 1 year of its production facility on February 10, 2022.
Exactly a year ago we bought the Futurefactory land and did bhumi pujan. Yesterday we celebrated the foundation day with 2000 women.
Saluting the Girl power at the Futurefactory who showed what it takes to start a revolution. Inspired by their energy and enthusiasm! pic.twitter.com/o9CtkiP4ew
One of the most unique aspects of this FutureFactory is that the Ola factory’s workforce only consists of women, which is the first of such initiatives in the history of Indian automobiles. When it celebrated its 1 year of existence, the Ola FutureFactory had 2000+ women employed, which has a capacity of employing 10,000+ women. This initiative of Ola furthers the possibilities for women leading industries by a step.
Ola might install a solar rooftop to power its factory and cut down on the electricity bills.
What is the price of Ola Electric Scooters?
The website of the Indian multinational ride-sharing company initially declared that the Ola e-scooters would be competitively priced. According to sources close to Ola, these scooters were expected to be priced around Rs 1 lakh mark.
The prices, as unveiled, later on, are tagged at Rs 99,999 and 1,29,999 for S1 and S1 Pro models respectively. At this price segment, these vehicles will compete with the likes of the Bajaj e-Chetak, Ather 450X, and TVS iQube.
Here’s looking at the current prices as per the Ola Electric website:
Ex Showroom Prices in India
Ola S1
Ola S1 Pro
Gujarat
INR 79,999
INR 1,09,999
Delhi
INR 85, 099
INR 1,10,149
Rajasthan
INR 89,968
INR 1,19,138
Maharashtra
INR 94,999
INR 1,24,999
Other Indian States
INR 99,999
INR 1,29,999
Now, as we see, the Ola E vehicle price varies from state to state where Gujarat is apparently having them at the least available ex-showroom prices. Apart from the mentioned states, all other states like Karnataka, West Bengal, Bihar, Andhra Pradesh and more will have their Ola vehicles with starting prices of INR 99,999. Now, if you are looking for Ola electric scooter price in Bangalore, then it would also be starting from INR 99,999.
If you are eager to learn about OLA Electric bike booking and purchase one of such vehicles, then you don’t have to worry anymore because here are some easy steps that will help you with the Ola scooter booking without any hassles. Here’s answering “how to book an OLA scooter online?” with some easy-to-follow steps:
First, you need to visit the official website of Ola electric: www.olaelectric.com and then click/tap on the ‘Reserve for Rs 499’ button, which appears at the top-right corner of your screen.
Now, you need to enter your mobile number, click on the captcha verification box to verify the same, and then click/tap on the Next option.
You will then receive an OTP on your mobile number, which you will need to type in and then click/tap on the Next option.
Then you will get a dialogue box that says ‘Total Payable – Rs 499’ and will offer 3 payment options – Debit/Credit card, UPI, and Netbanking.
After that, you need to choose your preferred payment option, after which you will be redirected to the payment gateway.
After making the payment you will see the final screen, which will confirm your Ola booking by saying “Congrats, you are now part of the revolution.”
As soon as you have completed making the payment, you will receive the order ID and other details via SMS or email to the mobile number and the email address provided.
Ola Electric – Founders and Team
Ola Electric had earlier listed Ankit Jain, Anand Shah, Bhavish Aggarwal, and Ankit Bhati as Founders, but later on, everyone else left the company, making Bhavish Aggarwal, the sole Founder of the company, as of May 12, 2022. Anand Shah was the first founder to leave the company, Ola Electric in 2019. This resignation was followed by Ankit Jain, one of the closest confidantes of Bhavish. Jain left the company in August 2020. Ankit Bhati also left the company in 2020.
Bhavish Aggarwal
Bhavish Aggarwal – Founder and CEO of Ola Electric
Bhavish Aggarwal is the brain behind Ola Electric and Ola, who founded Ola Electric with the other founders. The Co-founder and CEO of Ola and Ola Electric is a B.Tech engineer from IIT Bombay and has been a Research Intern and an Assistant Researcher at Microsoft before he founded Ola.
Ola has already roped in Wayne Burgess, a Jaguar design veteran who also served as the Design Director of Jaguar Production and SVO Vehicles, and plans to make their vehicles big on design, bringing in the global appeal to the vehicles.
Wayne Burgess
Besides, Ola is also planning to launch an indigenously built car in order to foray into the electric four-wheeler industry, which will also get a major boost in its design with Burgess leading their team as the VP of Design. The Ola electric cars are expected to be launched in the next 2-3 years and would be produced in a new Ola 4W factory, which will be a new factory that is yet to be built. The Ola Electric Futurefactory would only stay for 2-wheelers. According to the latest update by Ola chief Bhavish Aggarwal, the Ola electric 4-wheeler would be the sportiest car ever built in India. The 4W factory of Ola would need an additional 1,000 acres of land for its 4-wheeler factory and its proposed gigafactory, which will manufacture cells for both its 2-wheelers and 4-wheeler vehicles.
Funding received by Ola Electric Mobility
Ola Electric Mobility, the subsidiary of Ola responsible for manufacturing Ola Electric scooters, has raised a total funding of $1.5 billion to date over 12 funding rounds and is powered by 21 investors in total. The last Ola Electric funding round was raised on October, 26, 2023 when the company raised $240 million.
The lead investors of Ola Electric Mobility include big names like Softbank, Tata Sons Private Limited, Matrix Partners India, Tiger Global Management, Hyundai Motor Company, Kia Motors, and more.
Here’s a glimpse into all the prominent funding rounds that OLA Electric has seen so far:
Date
Stage
Amount
Investors
October 26, 2023
Debt Financing
$240 million
State Bank of India
September 7, 2023
Venture Round
$140 miilion
Temasek Holdings
May 22, 2023
Private equity Round
$300 million
–
January 24, 2022
Venture Round
$200 mn
Tekne Private Ventures, Alpine Opportunity Fund, Edelweiss, and others
December 8, 2021
Series C
$53 mn
Temasek Holdings
September 30, 2021
Series C
$200 mn
Alpha Wave Global, Softbank
July 12, 2021
Debt Financing
$100 mn
Bank of Baroda
March 12, 2020
Series B
$1 mn
Pawan Munjal Family Trust
September 16, 2019
Corporate Round
–
Kia Motors, Hyundai Motor Company
July 2, 2019
Series B
$250 mn
Softbank
May 6, 2019
Series A
–
Tata Sons
March 1, 2019
Series A
$53.58 mn
Matrix Partners India, Tiger Global Management
Ola ELectric – Growth
Ola Electric, which started taking bookings in July 2021, has already begun achieving some memorable milestones. Some of them can be summed up as:
Ola Electric has clocked sales worth Rs 1100 crore in just 2 days
It was hailed as the best-selling electric 2-wheeler after Hero Electric in March 2022, when it clocked the sale of 9000+ units.
With over 12689 units of Ola Electric scooters sold in April 2022, Ola Electric was recognised as the highest-selling electric two-wheeler company in India.
Ola has sold 41,024 units in 2022, as reported on June 25, 2022.
Ola Electric New Product
Ola Electric is up for a new product launch on the Independence Day of 2022. There are speculations that this new product is an Ola Electric car. It is on the 15th of August 2021 that the EV manufacturers launched the S1-series of electric scooters. So, we need to keep an eye on that for sure!
Here’s what the Ola chief tweeted with regards to the same:
Super excited to announce a new product this 15th August!
The Independence day launch of Ola Electric would be another Ola Electric scooter, at least as per the trailer that Bhavish launched on Twitter on August 7, 2022. The trailer had a scooter just like Ola S1 Pro, carved out as a silhouette, where he mentioned the “greenest scooter just got greener”.
On 15th August, we’ll be revealing the greenest EV we’ve made! Any guesses? 🇮🇳 😉 pic.twitter.com/aMFxToOSTo
Though there are only subtle mentions of the new launch, the Ola product might be an updated version of the S1 Pro model, or it might be an updated colour of the same. Besides, it might also be an affordable version of the Ola scooters. The launch event of the company will be livestreamed by Ola on the Independence Day.
Ola Electric Scooter Sales
After witnessing a noticeable decline in the number of registrations of EV companies MoM, in April and May, the registrations for EVs rose slightly in June 2022, which increased by 6.8% MoM. The situations or growth stories for big companies like Pure EV, Okinawa, and Ola Electric are a little different though. Ola Electric witnessed a 27.3% decline in May, and then again witnessed a 36.5% decline in June, the registration of which counted to 5874 units. This also resulted in Ola losing out its last month’s second position to Hero Electric, whose registration figures, after witnessing a decline over the last 2 months, sprung back again in June, rising by over 128% MoM. Entities like Ather, Ampere, and Revolt, all witnessed a rise in their vehicle registrations in June 2022 unlike Ola, as of July 2, 2022.
Ola, which peaked in its registrations by registering 12,705 units in April 2022, witnessed a prominent downfall, where the Ola Electric sales fell over one-third, to register 3856 units in July 2022.
Manufacturing Batteries
Ola Electric declared that it would be manufacturing batteries for its scooters, which is why it is in talks with numerous global suppliers to build a battery cell manufacturing plant in India. The battery manufacturing plant will have a capacity of up to 50 gigawatts (GwH) hours, as per reports dated June 8, 2022. The manufacturing expenses of such a plant will be around $1 bn. The capacity of the battery manufacturing plant might initially be 1 Gwh, which would eventually be further upgraded. Suppliers from Korea, Japan, Germany, and other countries might serve as the suppliers of Ola Electric. As per calculations, Ola Electric would be needing 40 GWh of battery capacity to successfully power 10 mn. The company has received incentives along with a few other companies, under the Production Linked Incentives (PLI) scheme, where the Indian government announced the investment of around $2.4 bn worth of funds. This government of India scheme aims to boost the local manufacturing of advanced chemistry cell (ACC) batteries.
The EV manufacturers revealed the first indigenously manufactured Li-ion cell, NMC 2170 on July 13, 2022. This cell is completely manufactured in-house, the mass-production of which is expected to begin in 2023 at its upcoming Gigafactory.
Ola developed the country’s first indigenously developed Li-ion cell, NMC 2170
Ola Electric announced on July 18, 2022, that it will invest $500 mn in its Battery Innovation Centre (BIC), which will be set up in Bengaluru. The BIC will serve as an R&D facility for electric vehicle battery cells. However, the electric vehicle manufacturing company hasn’t disclosed the funding round, and whether it will pour money by itself or depend on external funds.
The MoveOS 3 Firmware Update for Ola S1 and S1 Pro Revealed
The Ola S1 and S1 Pro electric scooters would be receiving the Move OS3 software. It is still being put together, as revealed by the automaker company on July 16, 2022, and would likely be released on October 24, 2022, during Diwali. This new firmware update would equip the scooters with advanced features like Hill hold, proximity unlock, moods, regen v2, hyper charging, calling, key sharing, and more.
Pre-Sale Bookings and Sales Records for the Ola Electric Scooters
Ola opened the option for pre-booking their customers on July 15, 2021. Therefore, everyone who was eager to buy the much-awaited e-scooters, and wanted to stay ahead of their peers could pay a refundable deposit amount of Rs 499.
Ola electric vehicles have witnessed pre-bookings of more than 1 lakh vehicles, as reported on July 17, 2021, the numbers of which increased each second.
The purchase for Ola electric bikes was geared to start from September 8, 2021, and the brand was set to kick start the delivery of the products from October 2021, as of the website status on August 2021. The brand also mentioned then that the purchase of the S1 Pro vehicles will be starting from September 8, 2021, and the Ola scooter delivery will tentatively begin from October 2021 onwards. The booking for Ola S1 and S1 Pro had already started back then and you can also find it live on their website as well as the Ola app even today.
However, Ola S1 scooters couldn’t be bought on the mentioned date due to technical glitches in the developer’s end of the website that failed to make it up and running. The website that would be a one-stop solution for digital purchases, which would also guide the customers with a fully digital loan process without any paperwork, wasn’t live on September 8, 2021. Ola co-founder and CEO Bhavish Aggarwal apologized on Twitter for the frustrating experience the customers had to go through and postponed the purchase date to September 15, 8 am. He further reassured that the reservation of the customers in the purchase queue will remain unchanged.
The purchase of the Ola e-scooters went live on the mentioned date, September 15, 2021, at the end of which it was declared by Bhavish Aggarwal that Ola Electric sold 4 scooters/second, which resulted in the sale of scooters worth Rs 600 crores+ in a single day. The total sale of Day 2 was even better as goes the Twitter post of the Co-founder of Ola Cabs, Bhavish Aggarwal:
Day 2 of EV era was even better than Day 1! Crossed ₹1100Cr in sales in 2 days! Purchase window will reopen on Nov 1 so reserve now if you haven’t already.
Ola is also looking to transport their electric scooters to the US by early 2022 as part of its international trade. The CEO of the company, Bhavish Aggarwal has mentioned,
“Yes soon! We will be shipping to the US by early next year,”
in a reply to Vivek Wadhwa, a US-based entrepreneur on Twitter, who earlier referred to the Ola Electric scooters as “the Tesla of Scooters,” further adding, “would love to get one here in Silicon Valley.“
Ola, however, had to postpone the deliveries of the e-vehicles from the month of October to November 2021 due to a global semiconductor shortage. However, the delay has further extended, as per the reports dated November 22, 2021, where the company has decided to defer the first batch of deliveries of its e-scooters to December 15 – 30, 2021, which was earlier expected to happen between October 25 – November 25, 2021.
Ola Electric – IPO
In order to be ready for its Initial Public Offering (IPO), Ola Electric has changed its status to that of a publicly traded corporation. Ola Electric Mobility Private Limited was the company’s previous name and now Ola Electric Mobility Limited before it underwent a corporate restructure in order to reach this noteworthy milestone.
Ola Electric – Partnership
Reliance General Insurance, a private general insurance business, announced a partnership with OLA Electric to offer an Extended Warranty Product in September, 2023.
Ola Electric – Acquisitions
Ola Electric has acquired 1 company to date that goes by the name Etergo.
Name of the Company Acquired
Date of Acquisition
Deal Value
Etergo
May 27, 2020
–
Ola Electric – Investments
Ola Electric has invested in StoreDot, a Tel Aviv-based battery innovating and developing startup that aims to replace the lithium-ion component on the batteries.
Name of the Company
Date of Investment
Funding Round
Lead Investor
StoreDot
March 21, 2022
Corporate Round
Yes
Ola Electric – Challenges
Aiming to transform the types of vehicles and the fuel that fuels them is itself a huge challenge that Ola has embraced with its e-scooters. Ola Electric has also faced many other challenges in its path of making EVs popular, and one of the major challenges is the fire incidents that the vehicle manufacturing company has seen in March 2022. Here are some of the prominent challenges faced by the EV giant so far:
Ola Electric Production Suspended in Tamil Nadu Futurefactory
Ola Electric has paused its production at Tamil Nadu’s Krishnagiri plant, as of July 30, 2022, for nearly a week. It has piled up 4000+ units at the same factory. Though an ET news previously reported that the company has decided to shut down the factory, an OLA Electric spokesperson refuted the reports, and stated that like all factories need annual maintenance, the Ola Futurefactory did too!
Ola’s Change of Payment Model Reduces Sales
Ola Electric initially used to set multiple payment windows for the customers, which opened on 4 specific dates and helped them pay in 4 instalments. However, on May 28, 2022, the Electric vehicle manufacturer changed that payment model to a one-time full payment model, where the customers will have to pay for their vehicles in full on a single occasion. This change has been impacting Ola Electric sales ever since. In the past 2 weeks, Ola has sold only 130-200 units, as per news dated June 25, 2022. Though this model is allowing the company to offer INR 10,000 discounts to its employees, the total vehicle sales were down by 27.3% MoM in May to 9230 units. The total vehicle sale of Ola stood at 41,024 units on June 25, 2022, so far in 2022.
Fire Incident in Pune
An Ola Electric vehicle set itself on fire in Pune in March 2022. This caused widespread fear and anxiety among all and has also led the company to recall 1441 bikes in order to diagnose them and check their overall health including their batteries, thermal, and safety systems.
Guwahati Accident
Amid the fire incident woes, Ola Electric has faced another criticism involving the son of Balwant Singh, a Twitter user, who alleged that he bought an Ola S1 Pro for his son, which met with an accident on March 26, 2022. This accident, he alleged, was due to a fault in the regenerative braking system. However, Ola Electric, in response to this, posted the telemetry data to prove that there were no issues with their scooter and that the accident was purely due to overspeeding and panic-braking. It also revealed the telemetry data in the form of an official statement on its Twitter handle.
As soon as Ola Electric posted the detailed telemetry report along with relevant graphs, proving that the son of Balwant Singh was overspeeding, and met with an accident, Ola Electric started facing huge backlashes for tracking customer data and publicising the same without the consent of the customers. This led Balwant Singh immediately mail Ola Electric and its authority to take down the personal telemetry data of Balwant’s son that was shared. Any further action taken by Ola was not known, but the fact whether the telemetry data can be considered as a customer’s own private data is debatable truly.
Balwant Singh’s son’s case was shot into the spotlight once again on May 12, 2022, when, as per the reports, Ola Electric responded to Singh, asking him to delete the negative reviews on social media within 24 hours or else, he would be facing legal action. The company’s response was backed by its earlier claim that it hasn’t breached data privacy.
Ola Electric Resignations
Ola witnessed another top-profile resignation on May 8, 2022. After Arun Sirdeshmukh, the CEO of Ola Cars, Dinesh Radhakrishnan is the next person to follow. Radhakrishnan was the CTO of Ola Electric who handled critical engineering functions of the company.
Ola Electric – Marketing, Brand Ambassadors and More
Ola Electric has already been a grand pre-booking success and is innovating its marketing strategies to attract the present generation of customers. The company is targeting all the available forms of media including traditional media, print media, and online media to empower the Ola scooter marketing strategy. The company has already roped in Bhuvan Bam, singer, songwriter, actor, and one of the most popular YouTubers of India, famous for his Youtube “BB ki Vines,” as its brand ambassador to hook in the young generation of buyers.
Bhuvan Bam was hired on August 27, 2021, on a contractual basis, the agreement of which declares that the popular Youtube personality would collaborate with the electric scooter manufacturers to create entertaining and eccentric content revolving around the new-age Ola Electric scooters.
Bhuvan Bam seemed thrilled to be an Ola Electric brand ambassador and said,
“I am really happy that Ola Electric considered me as one of their ambassadors. It’s truly exciting to be a part of this green revolution, something I’ve always wished for. The scooters are sleek, attractive, and are designed as per the Indian electric vehicle market. I have joined the green revolution already and I can’t wait for everyone to get their hands on it.”
Ola Electric – Future Plans
Ola Electric has plans to launch its electric car in 2024. Ola Electric is currently looking to establish its battery manufacturing plant in India that will have a capacity of 50-gigawatt hours. Furthermore, along with that, the electric two-wheeler manufacturing company will also be investing in advanced cell and battery manufacturing.
FAQs
How much does Ola electric scooter cost?
The Ola electric scooter has 2 models –
Ola S1 is priced at Rs 99,999.
Ola S1 Pro is priced at Rs 1,29,999.
The Ola e-vehicle prices, as mentioned above, are for all other states excluding Delhi, Gujarat, Maharashtra, and Rajasthan, where people will find the Ola Electric bikes even cheaper.
What is the Ola S1 Pro boot space?
Talking about the Ola S1 Pro boot space, it is safe to conclude that Ola promises to bring you the largest boot space currently available in the market, which will have the capacity of accommodating two half-face helmets, with space for packing in more.
How is the Ola Electric bike booking process?
The Ola Electric scooter booking in India or the Ola Electric bike booking is an easy process where the users would just have to go to the Ola Electric official website and book them online.
What is the range of Ola electric scooter?
The ranges of Ola Electric scooters on a single charge are-
Ola S1 – 121 km
Ola S1 Pro – 181 km
Though Ola has advertised that the Ola Electric scooters would have a range of around 181 km, the true range of Ola bikes is 135 km, as disclosed later on.
What is the top speed of Ola Electric scooter?
The top speed of Ola Electric S1 is 90km/hr whereas for the S1 Pro model the top speed is 115 km/hr.
What are the Ola S1 Pro and S1 charging times?
The Ola s1 pro charging time is around 6 hours 30 minutes, while the S1 variant of the Ola e-scooter will be fully charged in around 4 hours and 48 minutes when charged at home.
How to charge OLA electric scooters?
The Ola Electric scooters can be charged using a 750 W charger that comes with the Ola Electric scooter that needs to be plugged into a standard 5A socket. Besides, the users can also charge their scooters at the nearest Hypercharging stations.
Who is the Ola brand ambassador?
The Ola brand ambassador is none other than the founder of “BB ki vines” Bhuvan Bam.
Warren Buffett is an American investor highly acknowledged for his investments and related theories. Warren Buffett is counted among the 4 richest people across the globe. The net worth of Warren Buffet is around $113 Billion as of 2022.
Warren Buffett established his empire right from the scratch and is considered to have many record-breaking decisions in the world of shares. The journey covered by Warren Buffett right from the age of 11 years till now is a commendable one with many lessons to learn from.
He is the chairman and CEO of Berkshire Hathaway and also carries the majority of the share from Berkshire Hathaway. Apart from that, Warren Buffett also owns a few remarkable shares of companies like Coca-Cola, American Express, etc. The top 11 timeless lessons that can be learned from his journey are shared below.
One of Warren Buffett’s preferred tactics is to be patient and invest in high-quality investments for a long time. Profit booking and market timing are two methods he dislikes. Warren Buffett is fond of claiming that his investment horizon is “forever.”
It might seem an exaggeration from his side, but when we consider his investments across the time, it can be noticed that the most favored stock of Warren Buffett like Coca-Cola and American Express have existed throughout the journey. This long-term strategy will benefit you in all equity markets around the world. After all, it’s never about the short term with equities.
2. Invest in What You’re Familiar With
In 1990, when the focus of the whole investment world was shifted towards the IT and Telecom industry, the Oracle of Omaha preferred to stay away from it. He reasoned that technology was too complicated for him to comprehend, so he opted to stay away.
Similarly, during the subprime mortgage crisis, he avoided banks and financials. During two of the worst market meltdowns in US history, Buffett’s vigilance allowed him to avoid burning a large hole in his portfolio. The moral of the story is to stick to your knitting, no matter how dreary or tedious it is.
“I just sit in my office and read all day”, stated by Warren Buffett
Buffett is an avid reader, and he advises all fund managers and serious investors to spend a significant portion of their day reading. Only in this manner can new trends and ideas be grasped. Otherwise, you’ll tend to stagnate, which is bad news for investing, which is a highly dynamic activity by definition.
Buffet believed that reading is the best solution and method to gain an understanding of finance and financial markets. Buffett began learning about the stock market by visiting his father’s workplace and browsing through intriguing finance books. From there, he developed his investment library and market knowledge.
4. You Will Never Make Money if You Follow the Herd
When you’re alone, you’re lonely, but it’s your greatest shot at making money in the stock market. The goal isn’t to be irrational just to be irrational. The notion is that once you’ve made up your mind, don’t change your view just because the market is moving in the opposite direction.
It is your belief in yourself that will keep you grounded. The advice given here is obvious, but it is frequently overlooked. Many people invest in stocks, ETFs, or other investment vehicles simply because some of their friends have done so or because someone in their group has told them about some “promising chances.”
It is not something hard to understand that a first win can create a mirage in the mind of investors to feel they got it correct with the knowledge of products and investments. It is very important to not get carried away and understand that each subject has its share of pins and points.
For the same reason, one can notice that Warren Buffett stayed out of the technology field for many years as he was lacking in knowledge of the industry. As per the lesson shared by Buffett, it is best to not get involved in the investment part of the company that seems out of expertise.
Another point to note from this lesson is to create the next step of the ladder by considering the experience gained before. And if you’re unsure, go with what you know.
5. Spending Time in the Market Is Better Than Timing the Market
Nobody has ever consistently captured the market’s peak and bottom, and no one ever will! The aim is to invest money only when you are certain of its worth. It is sufficient to develop wealth over the long run if you can buy good equities at fair valuations and attractive pricing.
However, when we focused on the practical world it is observed that the perfect timing of the market is unnecessary because of all the risks evolving around it.
The above graph shows Warren Buffett’s Portfolio for the year 2022 created by the annual reports of Berkshire Hathaway
6. The Earlier You Begin Investing in Stocks, the Better
This is an expansion of the investment time factor. The sooner you invest in equities, the longer you’ll have to reap the benefits. And the more time you have, the higher the return on your investment. This is known as compounding power, and it works well in the case of stocks. Buffett’s investment strategy includes this as one of its foundations.
7. Investing Should Be Simple
Many of Buffett’s investing approaches focus on making the process of making wise decisions as simple as possible. For example, he believes that a far simpler strategy, like investing in low-cost index funds, would benefit the average long-term investor. “I’d be quite cautious about the expenditures involved.
Because it’s only a matter of math, I believe that people who buy such index funds will receive better performance on average than people who buy funds with greater costs,” Buffett said at his annual shareholder’s meeting in 2002. And he has maintained this belief in subsequent interviews in 2020.
8. Be Fearful About Losing Money
Great investors are fearful of losing their money. That isn’t to say Buffett hasn’t taken losses. He recently had a poor performance with IBM, but the point is that when you lose money, it’s time to think about what went wrong and how to prevent making the same mistakes in the future. It’s fine to lose money in the stock market once in a while as long as the lesson is learned!
9. Never Cross Your Limits to Take Part in the Investment
Investing never has only one side of the result. It is a mixture of both profit and loss. The working pattern of buying stocks can be way dangerous to oversee the limit of self.
As per Warren Buffett, “It’s insane to risk what you have and need for something you don’t need. You will not be way happier if you double your net worth.”
10. Know When to Step in and When to Step Out
Warren Buffett had kept stocks with himself for many years to yield better profit from them. However on the contrary when we look back at the investments made by Warren Buffett, there are times when he sold off his shares to save himself from falling. There were also times when holding still to the stocks for years and years turned out to be fruitful.
This practice shows us that it is important to know when it is better to leave the investment to avoid a larger fall. And it also shows that to achieve something, being persistent and patient can also open a door. Hence, one must be clear in their knowledge to know exactly when is the right time to back out or the continuation is needed.
“Remember that the stock market is a manic depressive”, explained by Warren Buffett
It is very important to maintain stability in both the personal and professional aspects. The results of investment and stocks bore no guarantee and hence can disrupt the stability of a person. But for an investor, it is very essential to keep their mental health in balance. Along with that, they should also keep their investments and stocks in balance to avoid larger holes.
One does not need to be overly cautious and make a blunder. Instead, it is much better to wait for their pitch and create an example. According to Buffett, it’s important to stay calm as an investor.
Conclusion
Warren Buffett is an iconic personality mainly acknowledged for his knowledge of investments and the stock market. He has made many remarkable decisions in the world of investments. The above context explains a few of the great lessons shared by Warren Buffett and how we can implement them in our life to attain success from investments.
FAQs
At what age did Warren Buffett start investing?
Warren Buffett started investing too early than any normal age. He bought his first share when he was just 11 years old.
How did Warren Buffett learn about investing?
Warren Buffett learned about investments from the Columbia Business School.
What strategy does Warren Buffett use?
For investments, Warren Buffett uses the strategy of value investing.
How Warren Buffett picks stocks?
Warren Buffett pick stocks after carefully evaluating them in a few different steps made by himself. The most important step is to evaluate the company by its value investing strategy and then look for other factors such as equity returns, business product analysis, and the value of stocks.
Everyone seeks to earn a hefty sum of money as well as maximize the long-term growth of capital. All they require is to calculate the expected return to benefit their money value and bankroll.
On the other hand, the calculation of long-term wealth should minimize uncertainty. Therefore, Kelly L.J has developed a theoretical statistical method to measure expected return value in the future, by adjusting the investment size with the use of the Kelly criterion.
People flummox themselves with the Kelly criterion and return on Investment formula. So the difference between these two is simple: interest is considered while calculating ROI. And the Kelly criterion follows the probability.
Generally, the Kelly criterion is a formula that maximizes the expected value of the logarithm of wealth that is equivalent to maximizing the expected long-term growth rate. The idea was derived from an American scientist John L. Kelly, who was a member of a research center at AT&T’s Bells Lab, New Jersey in 1956.
This method is used mostly by gamblers and investors to get double on the investment or bet they have funded. The formula works through a predetermined fraction of assets.
The Kelly criterion method earned recognition in gambling and investment, as people aim to get more returns and save bankroll. So, the Kelly criterion fit the ball in accelerating the earnings.
What are the Pros and Cons of Kelly Criterion?
Pros of Kelly Criterion:
The main purpose of implementing the Kelly criterion is to estimate the expected value in the future which helps maximize the rate of asset growth.
There is no plethora of loss of money on the investment, as it will take less money in case of prolonged series of failures.
Lately, the Kelly criterion is highly dependent on the probability of winning and the probability of loss of the asset value. So, if you have the chance of high returns on the investment, it’s a win-win situation for you accordingly.
Cons of Kelly Criterion:
As said before, The Kelly criterion works with probability whereas if the rate of investment runs positive in the market, you would benefit from its output. Meanwhile, if the asset value faces a bank stake, then it’s a loss for you.
Secondly, people won’t stay in the long-term investment unless it shows propitious promising in the future for the investors.
The Kelly criterion is formulated in two fields- Gambling and investment, which is the only place, where a person can win a hefty amount and manage a long-term growth of capital.
The method is all about the comparison of other strategies to identify the asset value. In the olden days, the Kelly criterion was made for gambling, where the participant bets on the coin and expects a high value.
Besides, the Kelly criterion works on investment by enticing participants to pay off more on such investment which gives him flavorful output in the future.
Participants use the Kelly criterion, where the expectation value of a function is given by the sum, over all the possible outcomes, of the probability of each particular outcome multiplied by the value of the function in the event of that particular outcome.
How do investors use the Kelly criterion?
Kelly Criterion Formula
Kelly criterion is used by investors while trading in the stock market to find the percentage of the money they need to allocate to each investment. This is done by using a mathematical formula.
K% = W – [(1-W) / R]
where,
K%=The Kelly percentage
W=Winning probability
R=Win/loss ratio
The investors have to access their past 50 to 60 trades from their recent tax returns. Investors have to calculate the value of W – the winning probability. The value can be found by diving into the number of positive resultant returns by the total number of trades that can be both positive and negative. Anything above 0.50 and any number close to 1 is good.
Then R – win/loss ratio is calculated by dividing the average gain on positive trades by the average loss on negative trades. It is good if the number is less than one and the losing trades are small.
Both the W and R values are applied to the Kelly criterion formula and the result is noted. The result percentage indicates the size of the positions that should be taken in the assets in the portfolio. If the resultant percentage is found to be 0.31. Then one should take an estimated 31% position in each of the equities in the portfolio.
It is advised that not more than 20% or 25% be invested in one asset or equity as it increases the financial risk.
The Kelly criterion is known to be used by popular investors like Warren Buffet, Charlie Munger, and Bill Gross.
Kelly Criterion is a money management principle and can be applied mainly in activities related to gambling and investment. In investment, the formula calculates the percentage of the account that the investor needs to invest. In sports gambling, the formula is mainly applied to maximize the potential returns on wagers and minimize the chances of losing a bankroll entirely.
Let’s take an example on the note of “how do the Kelly criterion formulae apply?” Let’s say probability, the first thing that comes to mind is fifty-fifty chances or a win-loss situation. If you roll a dice, then the chances of getting any number between 1,2,3,4,5, and 6 are unknown. So, take 1,2,3 as 60% possibility whereas 4,5,6 are 40% possibility and vice versa.
For instance; if a company offering a trade of 27.73 per share with an upside range of 37.65 and downside worth of 23.85.
So, out of 100% per share value (27.73)- 70% probability of earning an upside value of 37.65 and 30% of 23.85.
if you calculate the percentage value of upside and downside per share, you will get a 35.77% Gain and 13.99 as a Loss.
So, now perform the Total Expected Outcome (Probability)= (70% x 35.77) + (30% x [-13.99 LOSS]) = 20.84
now, apply Kelly Criterion formulae;
Total capital planning to allot = 20.84/ 35.77= 58.26%
Therefore, the company plans to invest 58.26% of the capital investment.
Conclusion
Kelly Criterion is one famous method used for a long time both in gambling and investments. Kelly criterion helps in minimizing the loss and focuses on achieving efficient returns through diversification. It is necessary and important that proper judgment based on reliable means should be taken while dealing with capital.
Even though the formula was created by John Kelly of Bell Labs, to analyze long-distance telephone signal noise, the Kelly criterion acts as a reliable model to help gamblers and investors in deciding the size of the position they should take which leads to diversification and efficient and effective money management.
FAQs
What is Kelly Criterion?
Kelly Criterion is a formula proposed by John Kelly used by investors to calculate what percentage of their money they should allocate to each investment.
Which investors use Kelly Criterion?
Popular investors like Warren Buffet and Charlie Munger, along with legendary bond trader Bill Gross.
Who developed the Kelly criterion?
The Kelly Criterion was proposed by John Kelly in the 50’s who at that point was working for AT&T’s Bell Laboratories.
What is the formula for Kelly criterion?
The Kelly Criterion formula is K% = W – [(1-W) / R]. Here, K% stands for Kelly percentage, W stands for winning probability and R stands for the ratio of winning or losing.
Kelly Criterion is used for?
Kelly criterion is mainly applied in the field of investment and gambling. It is used to determine the amount of money one should bet in a single round.
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 ITC.
What comes to your mind when you read conglomerate company? To put it in simple sentences, a conglomerate is a grouping of various companies operating in distinct industries under one corporate umbrella; typically consists of a parent firm and numerous subsidiaries. They often have a big global presence.
The concept of conglomerate companies is not something from a recent era but began some 200 years ago. You will be surprised to know that it was during the First World War when it actually started.
Weimar, a city in Germany, experienced a temporary economic crisis as a result of the First World War, which allowed business owners to purchase companies for dirt cheap. Hugo Stinnes, founded Stinnes Enterprises, the most significant private economic conglomerate in 1920s Europe, which included businesses in a variety of industries, including manufacturing, mining, shipbuilding, hotels, and newspapers.
India is no less when it comes to conglomerate companies it has formed. One such company is known to be one of the biggest conglomerate companies in India. ITC Limited, the name nobody is unfamiliar with, was founded in 1910 as a British-owned company registered in Kolkata.
Today, ITC is India’s leading FMCG marketer. Not only FMCG, but ITC has diverse businesses in sectors such as Hotels, Paperboards and Packaging, Agri Business, and Information Technology.
In this article, we have curated all the important information regarding ITC’s startup growth, it’s business and revenue model, challenges, key products and services, shareholders, and future plans.
The Imperial Tobacco Company of India Limited, under W.D. & H.O. Wills, which is a British-based Tobacco manufacturer was founded in 1910. The company later changed its name to India Tobacco Company Limited in 1970, and then to I.T.C. Limited in 1974. The business is now known as ITC Limited, with “ITC” no longer serving as an abbreviation.
ITC is present in a variety of industries, including FMCG, hotels, packaging, paperboards & specialty papers, and agribusiness.
ITC is the only corporation in the world of its size and diversity to be carbon, water, and solid waste recycling positive, demonstrating its desire to be an example of sustainability practices.
Furthermore, over 5.5 million individuals, the bulk of whom are among the poorest in rural India, have sustainable means of subsistence thanks to ITC’s enterprises and value chains.
As of today, ITC has a market capitalization of US$35 billion and had an annual turnover of US$10.74 billion during 2019-20. It has more than 60 facilities across India and 36,500 employees.
ITC – Industry
According to a survey, the industrial sector, which consists of businesses in manufacturing, power, gas, and water, established more than 47,800 new businesses in FY22.
The conglomerate industry in India is picking up fast and changing the economics of the country.
ITC – Key People
ITC Limited is headed by Sanjiv Puri, who is the Chairman and MD of the company.
Sanjiv Puri
Sanjiv Puri is the Chairman and Managing Director of ITC Limited. With effect from December 6, 2015, he was appointed as a Wholetime Director on the ITC Board. He later assumed the positions of Chief Executive Officer in February 2017 and Managing Director again in May 2018. He was chosen to serve as Chairman, and that date is May 13, 2019.
Sanjiv Puri holds degrees from the Indian Institute of Technology in Kanpur and the Wharton School of Business in the United States. Most recently, the XIM University in Bhubaneshwar awarded him an honorary doctorate.
Sanjiv Puri has held the position of Chairman of the Expert Group established by the Fifteenth Finance Commission of the Government of India to promote agri-exports, and he has also participated in the NITI Aayog’s Farm to a Table discussion group on technology.
He received the Indian Institute of Technology, Kanpur’s “Distinguished Alumnus Award of the Year 2018” for his achievements. Another honour bestowed upon him was the “IMPACT Person of the Year, 2020” Award from exchange4media, a prestigious online news source.
ITC – Mission and Vision
ITC Limited vision is to maintain its ranking as one of India’s most valuable companies by performing at an international level and generating growth for the Indian economy and the company’s stakeholders.
ITC’s mission is, “To enhance the wealth generating capability of the enterprise in a globalising environment, delivering superior and sustainable stakeholder value”
ITC – Name, Logo, and Tagline
ITC Logo
ITC’s name has been changed a few times. The company was originally known as ‘Imperial Tobacco Company of India Limited’ when it was under British ownership. Later, the company ventured into partnerships and was renamed the Indian Tobacco Development Company Limited.
After Independence, the company was changed to I.T.C Limited. In present times, the company is popularly known as ITC, not as a short-form of anything.
ITC goes by the tagline, “Enduring Values”
ITC – Startup Story
ITC traces back to 1910 as a British-owned company located in Kolkata, West Bengal, India. The company used to call Imperial Tobacco Company of India Limited. Soon after a year, to source leaf tobacco, the company entered into partnerships with farmers from the southern region of India.
The “Indian Leaf Tobacco Development Company Limited” was established under the company’s aegis in the Guntur district of Andhra Pradesh in 1912. The company had its first cigarette factory in Bangalore in 1913.
The company had its headquarters in the ‘Virginia House’ at Calcutta. After years of development and strategies, ITC decided to expand its footprint and purchased the Kidderpore factory of Carreras Tobacco Company in 1935. To drastically lower import prices, ITC assisted in the establishment of an indigenous industry to produce cigarette tissue paper in 1946.
Within three years, a printing and packaging facility was established by ITC in Madras. The company also purchased the manufacturing operations of Tobacco Manufacturers (India) Limited as well as Printers (India) Limited’s related lithographic printing operations in 1953.
Right after the purchase of Printers (India) Limited, ITC was converted into a Public Limited Company. With 6% of the company’s Indian shareholders, the first step toward Indianization was made in the same year. During this period, ITC also entered the consumer research market for the first time in India.
In order to achieve self-sufficiency in the production of cigarettes, technology was more heavily focused on throughout the 1960s when establishing cigarette machines and filter-rod manufacturing facilities. In a few years, the Indian shareholding grew further to 40%.
ITC started to enter the hospitality industry in 1975 and bought and renamed the ITC Welcomgroup Hotel Chola in Madras. The company selected the hospitality industry due to its potential to produce significant amounts of foreign exchange, develop tourism infrastructure, and produce a significant amount of direct and indirect employment.
As the shareholders kept growing, the company started to create more hotels in the following years. It was in 1979, the company entered the paperboards business by promoting ITC Bhadrachalam Paperboards Limited.
As the company kept growing, two more ventures were established by ITC – the ITC Classic Finance Limited and ITC Agro Tech Limited under its umbrella during the 1986s.
The Wills Sport line of casual clothing was introduced by ITC in the 2000s, and the company also entered the stationery and gifting industries by producing the Expressions line of greeting cards and Classmate notebooks.
ITC – Business Model
ITC business is a multi-industry company, and as a multinational company, it has different products and different target markets accordingly. The business model of ITC is to create products that benefit its target audience by giving them a vast range of products.
ITC sets its benchmark in various other sectors like FMCG, Agri-Business, Hotels, Paperboards and Specialty Boards, Packaging, and Information Technology.
Here let’s take the look at the key products that covers in the business model of ITC
FMCG
ITC houses around 25 brands under its FMCG market, thus making them one of India’s leading marketers in Fast Moving Consumer Goods Business(FMCG). It could be seen that the company’s strategic goal is to ensure long-term success by combining and using the varied set of competencies present across all of its businesses to take advantage of new opportunities in the FMCG industry.
Some of the brands that help us with our bare necessities in today’s age, are majorly by ITC, these are:
ITC Foods Brands – To name a few:
Sunfeast
Aashirvaad
Bingo
Yippee
B natural
Sunfeast Milkshake
Mint-o
Candyman
Sunbean
ITC Personal Care Brands;
Salvon
Vivel
Engage
Fiama
Nim Wash
EDW ESSENZA
Charmis
ITC Stationery Brands;
Classmates
Paperkraft
ITC Incense Brands;
Mangaldeep
ITC Safety Matches Brands;
Homelites
Aim
ITC Cigarettes Brands;
Insignia
India Kings
Classic
Gold Flake
American Club
Wills Navy Cut
Players
Scissors
Capstan
Berkeley
Bristol
Flake
Silk Cut
Duke & Royal.
Hotels
ITC business is also expanded in the hotel sector. The company launched its first hotel in 1975 by building on the assets of its excellent sustainability standards and pioneered the idea of “Responsible Luxury” in the hospitality industry. Presently, the company owns around 100+ hotels in various locations.
Some of the luxury and distinguished hotel brands by ITC are:
ITC Hotels
Mementos by ITC Hotels
Welcome Hotel
Storii by ITC Hotels
Fortune Hotels
WelcomHeritage Hotels
Paperboards and Packaging materials
The company is proud in meeting the needs of a broad range of industries, including those for FMCG cartons, electrical insulation papers, bio-based barrier coated boards, decorative laminate bases, writing and printing papers, and much more. ITC’s paperboard products range in Virgin Boards, Recyclable Barriers Boards, Recycled Boards, Barrier Boards, and Graphic Boards.
ITC has also been a prominent contributor to paperboard packaging in South Asia. Some of the packaging services provided by ITC are cartons packaging, flexible packaging, tobacco packaging, innovation, and new product development.
Agribusiness
Due to its involvement in reforming and reinventing the rural agricultural area, ITC, which also operates in the agriculture sector, has solidified its place as a prominent corporate in the agricultural industry in India. ITC also started a farmer empowerment plan known as the e-Choupal to help farmers build a strong community.
Today, e-Choupal is the world’s largest rural digital infrastructure. Some of the agri-products, that the company focuses on export and domestic trading are; Feed ingredients, Coffee, Marine Products, Food Grains, and Processed Fruits.
IT services
ITC Info Tech by ITC provides services in business and technology consulting. It offers its IT solutions to sectors like Banking & Financial, Services, Consumer Goods, Manufacturing, Healthcare Travel, and Hospitality.
Apparel business
ITC has diversified its business in apparel and fashion as well. Fashion brands that are owned by ITC are John Players and Wills Lifestyle. However, the company had been shutting the stores of Wills Lifestyle due to losses.
Marketing and Media Centres
To build its brand and advertise its companies, goods, and services, ITC engages in a variety of marketing and promotional initiatives. The brand uses a variety of promotional techniques, including print, digital, and electronic media, in its advertising campaigns. It has launched several advertising campaigns that are broadcasted across various media, including radio, television, billboards, etc.
ITC has roped in many celebrities to endorse their brands like Shah Rukh Khan for its food brand ‘Sunfeast’, Alia Bhatt for its ‘Sunfeast Dark Fantasy’ biscuits, famous cricket player like Yuvraj Singh, and Bollywood actress, Soha Ali Khan for ‘Classmate’, Kiara Advani for ‘Charmis’, and Tara Sutaria for ‘Savlon’.
R&D Activities
ITC has its own research and development centres. The R&D centre come under the brand name ITC Life Sciences and Technology Centre (LSTC). The centre is situated in Bengaluru, where it is involved in creating many innovative products and technology solutions to offer to its Indian customers.
CSR Activities
ITC has its own CSR policy where it aims to contribute as much as possible to building economic, social, and environmental capital towards the betterment of society in general. Women empowerment, Afforestation programme, Sustainable agriculture, Livestock Development, Watershed Development programme, Primary Education, Skilling & Vocational Training, Health & Sanitation, and Solid Waste Management are some of the CSR initiatives by ITC Limited.
ITC – Revenue Model
ITC mostly generates its revenue from the cigarette industry. Despite, the third wave of Covid, the cigarette sector’s revenue is up 10.2%.
For FY2021-22, the company’s overall Gross Revenue at Rs. 59101.09 crores increased by 22.7%, while EBITDA increased by 22.0% to Rs. 18933.66 crores.Profit Before Tax at Rs. 19829.53 crores grew by 15.5% over the previous year and Profit After Tax stood at Rs. 15057.83 crores (previous year Rs. 13031.68 crores). Total Comprehensive Income for the year stood at Rs. 15631.68 crores (previous year Rs. 13277.93 crores). Earnings Per Share for the year stood at Rs. 12.22 (the previous year Rs. 10.59).
ITC – Investments
ITC has made four investments till now. Their most recent investment was on 20 April 2022, when Mylo raised ₹1.3B. Other companies in which ITC has invested are Mother Sparsh Baby Care and Azgo.
ITC has invested around $1 million at Azgo in 2019 in corporate round funding.
ITC – Mergers and Acquisitions
ITC has bought two businesses. Sunrise Foods was their most recent acquisition as of May 25, 2020. They paid $21.5 billion to buy Sunrise Foods.
Century Textiles – Nainital paper unit is another company they acquired on 16 June 2011 at an undisclosed amount.
ITC – Shareholders
The equity shares of ITC are traded on the Calcutta Stock Exchange, the National Stock Exchange of India, and the Bombay Stock Exchange (CSE). Global Depository Receipts (GDRs) issued by the corporation are traded on the Luxembourg Stock Exchange. ITC is a component of the BSE SENSEX and NIFTY 50 of the NSE, two of the most important stock market indices in India.
ITC – Challenges Faced
In 2021, ITC was facing issues in operating outlets because of lockdowns imposed during the second wave of Covid-19. The company thinks that because of the second wave lockdown, it had severe economic and social disruptions. The limited time hours given during the lockdowns posed a big challenge for the company as there was no material supply and limited customers at its various stores.
ITC Hotels suffered a lot during the second wave as there were restrictions imposed by the Government to curb the spread of the pandemic.
ITC – Online and Social Media Presence
Since ITC plays a key role in marketing and promotional activities, it knows how to keep its audience engaged and keep them updated through its various brand awareness strategies and methods, it surely has a very strong social media presence. The LinkedIn page of ITC has 2,438,418 followers, Instagram has 12.3K followers, and the Twitter page has 40.2K followers.
ITC – Awards and Achievements
As one of the leading Multinational Companies in India, ITC has received many awards and achievements. Take a look at the below list of some major awards won by ITC:
Pulp & Paper International (PPI) Awards by Fastmarkets RISI
First Prize At National Water Awards, 2022
EFI CII National Award for Excellence in Employee Relations, 2021
ICSI CSR Excellence Award, 2021
ITC’s Savlon wins big at Cannes 2017
Excellence in Corporate Governance and Integration’ – Porter Prize, 2017
World Business Development Award 2012, RIO
ITC – Advertisements and Social Media Campaigns
ITC knows its game when it comes to marketing itself. In 2020, ITC launched a social media campaign to voice out the different products it makes and reflects the essence of the ‘Made In India’ initiative.
With the #ProudlyIndian Campaign, ITC wanted to grasp the Indian audience for being an important contributor to the nation with its myriad options of products, which are manufactured on Indian soil with cutting-edge technology centres and Indian farmers.
In 2021, ITC Vivel launched a campaign on Women’s Equality day to salute all the homemaker women. With ‘Ab Samjhauta Nahin’ philosophy, the campaign highlights the gap between working professionals’ and homemakers’ expectations.
With its #RespectWorkForHome campaign, the brand celebrates the dedicated, persistent, and selfless work of housewives. The brand demonstrates the long-standing problem of discrimination based not only on a person’s gender but also on the sort of labour performed.
ITC – Competitors
ITC competes with the following companies:
In the FMCG sector
Hindustan Unilever Limited (HUL)
P&G
Coca-Cola
Dabur
Danone
L’Oreal
Colgate
Nestle
Godrej Consumer Products
In Cigarettes Sector
Raghunath
Godfrey Phillips India
Vazir Sultan Tobacco
Golden Tobacco
Philip Morris International
In Hotels Sector,
Taj Group of Hotels
Oberoi
Leela Hotels
FAQs
Is ITC private or government?
ITC is a private sector company that has its presence in Cigarettes, Hotels, Paperboards & Specialty Papers Packaging, Agri-Business, Packaged Foods, Branded Apparel, Personal Care, Stationery, Safety Matches and much more.
Who is the biggest shareholder of ITC?
Tobacco Manufacturers India Ltd is the biggest shareholder of ITC.
Is ITC an Indian company?
Yes ITC is an Indian conglomerate headquartered in Kolkata.
Order confirmation emails have better engagement rates than other sorts of emails. Their open rates are as high as 70%, the average click rate is 17%, and the average order rate is 3.77%. That makes confirmation emails pivotal for your business. And you can use this opportunity to achieve your branding and marketing goals.
Customers are more likely to respond to order confirmation emails than to full-fledged advertising communications, and these numbers are a huge testimony of the potential of order confirmations.
To capitalize on these opportunities, you should employ well-thought-out techniques. And to help you out with that today we are going to give you all the necessary information on how to create the best order confirmation email.
WooCommerce Order Confirmation Email Customization
What Is an Order Confirmation Email?
An email confirmation is an automated email sent to the client after they place an order. Unlike a promotional email that is sent to a group, this transactional email is sent to a single user in response to the action they have performed, like in this case making a purchase.
While you already get an indication that your purchase was placed successfully on the website or app, an email confirmation is a great follow-up that most customers anticipate.
The email confirmation includes information such as your transaction, purchase, delivery address, payment method, list of ordered products, tracking data of the package, and delivery date. These emails can be used for confirming your appointment, reservations, subscription, or any other form of service.
An order confirmation email is an excellent way of keeping the customer’s trust especially if they are a first-time buyer, as it fulfills the psychological requirement of keeping things in good faith. It can also be used for marketing purposes and as a tool to improve customer satisfaction. You can also add similar products as the ones brought by the customer or attach a discount offer to make them your recurring customer.
What Purpose Should Your Confirmation Emails Fulfil?
Confirmation Order Email
An order confirmation email is a significant element of upscaling your company. You may not be able to see its direct impact on your business, but in a long run, this works as the catalyst for increasing brand loyalty.
Consider the following subpoints when you craft the template of the order confirmation email.
It should Aid in Maintaining Long-Term Relations With the Client
Your order confirmation email should speak the language that makes your customers want to purchase from you again. This is possible when your email is successful in providing an amazing customer experience. You can attach an invitation for your customers to join you on social media or a loyalty program to maintain long-term relations with them.
It Should Pique the Interest of Customers in Your Products
Whenever a customer sees the confirmation email of their product or service it helps to subside their worries. Now they have the assurance, they start looking at the finer positive points of the services that you provide. This email alone promotes favorable thoughts and creates a base for future interactions of customers with your brand.
It Should Build Trust
When a customer makes a purchase from your online store for the first time they want to know whether your firm is legitimate or not. A confirmation email works as a trust-building factor that their payment information is safe and their order will be delivered to them successfully.
It Should Include All the Important Details
A confirmation email includes all the important information like mode of payment, list of products, expected delivery date, tracking details, and all the valuable information that a consumer expects from the seller. More about it in the upcoming section.
Your Email Should Give Customers Peace of Mind
When your customer sees a confirmation email in your inbox, it automatically gives you peace of mind that you haven’t been duped and the amount you have paid on that item is in safe hands.
Things to Include in an Order Confirmation Email
A customer seeks several important components in an order confirmation to ensure the proper delivery of their product. These details can differ depending on your email marketing strategy. However, there are a few aspects that you must include in your emails. Here’s a list of all those components:
Your Brand Name
Adding your brand name to the email will communicate to the customer that the communication has come through your company and it will also help to create awareness among the clients about your brand name.
Order Number
An order number streamlines the whole process of resolving customer queries. It helps the customer care executive in locating all the specifications of the purchase and provide instant solution to the customer.
Summary of Order and Contact Details
Including details regarding customer billing address, method of payment, product name, quantity, size and color of product, weight, and stock-keeping units along with a photograph of the items will provide the buyer with visual confirmation of their purchase in a proper way.
A Proper Breakdown of the Costs
Sometimes a customer may get confused about the price of a product, hence a proper breakdown of the cost will help them to comprehend the cost easily. Including details like the cost of the product, taxes, shipping cost, and any discount or promotional codes that are used by the customer or included by the platform itself.
Confirmation of Order Amount and Mode of Payment
This one’s quite easy to understand, a display of the payment method and overall amount of the order gives the customer assurance and an idea of the charges they have paid.
Confirmation of Order and Payment Mode
Tracking Details and Estimated Date of Delivery
Tracking details make your brand appear trustworthy and genuine. It also assists the customer in monitoring their package. The estimated delivery date will help the customer know when your item is scheduled to be delivered and if the payment mode is cash on delivery then the customer will be ready with the amount on the specified date.
Thank you Message and Customer Service Details
A thank you message will make a customer happy. It will also show them that you can go the extra mile to give maximum customer satisfaction. Providing customer service details gives the customers an accessible way of reaching out to you in case of any issue with the product or cancellation.
Some Fantastic Examples of the Order Confirmation Email
After gaining so much information on a confirmation email, let’s have a look at some great order confirmation email samples so that you can create one of your own!
1) Show Some Excitement!
Since an order confirmation email is your first opportunity to communicate with your consumer, show them how grateful you are that they purchased your product. The degree of excitement you display in your email will make the consumer delighted and a returning customer.
order confirmation email
2) Use Some Catchy Lines and Follow-up Information
Using some catchy phrases that fit with your product will create an impression on your customer’s mind. It also demonstrates your level of inventiveness and the work you put into providing a positive user experience for them. Customers may be certain that their product is in good hands and will be delivered to them shortly if they receive follow-up information such as “we will send you another email after delivery.”
3) Send a Personalized Thank You Message
A personalized thank you email will show your consumer that they are valued and will remind them that they made the correct decision. This will help to establish an instant connection between the consumer and the business.
Personalised order confirmation email
Conclusion
We hope you can see how crucial a flawless order confirmation email is for a business by now. An email confirmation creates positive ideas in the head of the consumer and aids in growing potential earnings.
Not only that, but it also demonstrates your genuineness and builds customer confidence in future transactions. Online business is all about risk and certainty, but with a purchase confirmation email, you can make it a little less perilous for your consumers.
FAQs
How do you respond to a customer order?
Show your gratitude towards them for buying your product and craft a personalized message to build trust and offer them a discount and then close your message with another thank you note with your email signature.
Why are order confirmation emails important?
Order confirmation email verifies that order has been successfully placed. It provide an opportunity for relationship building and create potential cross-and up-selling.
How long do order email confirmation take?
Ideally order confirmation email takes around 5 mins to 60 minutes. Sending an order confirmation email early at helps in making good customer relationship and building brand image.
What should be the length of the order email confirmation?
There is no defined length for it. But it must have all the details like- Order number, cost breakdown, purchased items, delivery timeline.
Video making is one of the on-demand skills, every company is expecting from videographers. Basically, video production is a process of executing your ideas of a story into a visual representation, which enhances high engagement as well as makes quick memory recall.
More than 53% of viewers prefer watching an ingenious clip of 90 seconds to reading prolonged content that takes at least 5 mins to read. Yes, Video marketing becoming a key factor in today’s business strategies, as it bestows high-quality content and also builds your company’s social media powerhouse.
Here, are the top 10 platforms, which aid you to learn video production skills, where you get to educate yourself that subsumes practical experience in filming, and script writing, and improve editing skills to create artistic videos at the end.
Well, learning video production lessons from a professional one makes things way easier than learning them from animated prerecorded video. Larry Jordan is an Apple-certified in digital media as an award-winning in editing, director, producer, and well-trainer.
Larry Joran Video Editing Courses
He started the website ‘Larry Jordan.com’ in 2003 and has been in the media industry for more than 50 years and helping out editors, producers, and directors in learning video-making skills. The website provides one of the best online training and product reviews on getting high-quality video and information that covers video production for media professionals. He has more than 2600+ free tutorials for video production on his blog from Abode Audition, Abode Premium Pro, and Final Cut Pro X, to Soundtrack Pro and many more.
Udemy
Udemy is one of the largest online course providers, where you could learn and buy 100,000+ on-demand high-quality online courses. Udemy offers you various levels of learning video production from beginner to Advanced, where it covers both Pc and Mac programs.
Price: Starts at 449 INR to 3000 INR per course
Udemy Video Production Courses
Besides, Udemy has a 30-day guarantee period, where you could access any video production course at a very affordable price. You can select one particular skill you want to study on video production and pay for it, for instance- Filmmaking.
Storyboarder
You can express your ideas in an innovative way, just by showing animatics in it and can visualize a story as fast as in the best possible way. Storyboarder launches your ideas in a fast and simple manner and also makes you print out a storyboarder worksheet, just by taking a picture of the worksheet and uploading it to turn it into your project.
Price: Storyboarder price range is from $4.99 to $52.99 per month
Storyboarder
Coursera
Coursera is a US-based massive online course-providing platform established by Stanford University professors Andrew NG and Daphne Koller in 2012. The website offers you more than 10+ video production online courses, taught by professionals emphasizing VR & 360 video production, Final Cut Pro, Creation infographics, Transmedia storytelling, Image making, etc.
Price: Coursera charges certificate fees around 2000 INR in case of professional course
Coursera Video Production Courses
Jonny Elwyn
Jonny Elwyn is a freelance film editor working for various range of clients in London, United Kingdom. He teaches video production skills online as well as offline mode for his students. His website provides a plethora of bogs on various video production skills such as VFX editor, Film editing, colour grading, and many more.
Price: You can access to free version of tutorials of Jonny Elwyn
Video editing tutorial by Jonny Elwyn
Video Copilot
Andrew Kramer developed Video Copilot, one of the greatest video production instructional company, in 2005. At the age of 20, he started the website to efficiently utilize his spare time.
Price: The price range starts from $95 to $999 on various products
Video Copilot- Learn Video Production
Surprisingly, the website is currently became one of the most widely used video production tutorials among the visual effects community. AndrewKramer.com has a vast variety of plug-ins, 3D packs, and Stock FX, and users find the instructions to be simple and enjoyable to follow.
Adobe Premiere Rush CC
Adobe is the best video editing app, and does some game-changing innovations like introducing new tech which benefits you through digital experience by democrazing creativity. Adobe Creativity Cloud can make your story into a creative movie with its tools- fonts, stock images, collaborations, and tutorials for beginners.
Adobe Premier Rush CC
Splice
Splice is a go-to-tools for video creators, which renders intuitive fast editing, visual effect & transitions, and stock footages. Splice is available for free download in Windows as well as iOS version in order to access their powerful editing tools.
Price: 1.99 USD weekly
9.99 USD monthly
69.99 USD yearly
Sliceapp for Video Editing
Philip Bloom
Philip Bloom is a world-renowned filmmaker who has been in the media sector for the past 13 years and specializes in making appealing visuals and films. Bloom offers his expertise in video creation on his blog, where you can discover hundreds of his seminars and tuitions.
Video Production Tutorial by Philip Bloom
He has vast experience in storytelling, motivational speaking, post-production, editing, and other video production tools. He attends workshops of roughly 25 people that last 2-3 days, and you can join offline sessions by contacting Philip Bloom’s office.
Premiere Gal
Kelsey Brannan started her YouTube channel ‘Premium Gal’ which is based on video editing & production training. Premiere Gal is a video editing house and marketing company that gives educational course, graphic and other visual content tutorials for the YouTube channel. Moreover, you can also purchase graphic, video templates on Premiere Gal store for your business.
Price: You get a chance to access 7-day free trial of Premiere Gal Pro
To access Superpeer, they charge 10 USD per month
Premiere Gal Pro Video Editing Courses
Conclusion
Notably video production is essential for communicating your brand’s story artistically. With their well-organized articles and entertaining lessons, the platforms mentioned above assist novices in learning video creation. After mastering the techniques, you may be able to ace large projects using your high-quality video creation abilities learned from the tutorials.
FAQs
Is video editing a good career?
Yes, learning video editing skill for making a career is a great choice. Due to rise rise of the internet and video content demand for video editors has been increased. Many influencer marketers rely on video content to stay afloat, so there is always new video editing positions opening up.
What is the cost of video editing course?
The cost of video editing course depends on various factors like the course content for beginner or advance version. Generally it costs between 10k to 1 lakh.
How do beginners can learn video production?
You need to watch some free video editing tutorials available online and then can do practice to excel on your computer which must have good RAM and Speed.
How much does a video editor earns in India?
A video editor in India normally earns 40k to 1 lakh pm.
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 CredAble.
CredAble provides working capital and related liquidity programs for enterprise supply chains, leveraging its trade finance expertise, partnerships with capital providers, and its world-class technology platform. Founded by Nirav Choksi, Rajiv Ramnarayan and Ram Kewalramani, the goal of this fintech startup is to make ‘CredAble’ synonymous with ‘Working Capital’ and hence the mission statement is Think Working capital… Think CredAble.
Since its inception in 2017, CredAble has enabled in excess of INR 6,000 crores and more than 11,000 borrowers covering over 100,000 transactions with 0% NPAs. This has culminated as an outcome of the team’s single-minded focus on execution. CredAble aims to disburse in excess of USD 1 billion per month going to USD 2 billion per month.
StartupTalky interviewed the co-founders, Nirav Choksi & Ram Kewalramani to get insights on the Success Story and Growth Hacks of CredAble. Know all about CredAble funding, founders, business and revenue model, how it started, marketing strategies, and more.
CredAble – Company Highlights
Startup Name
CredAble
Founders
Nirav Choksi (CEO), Ram Kewalramani (MD) and Rajiv Ramnarayan (Founding Partner and Board Advisor)
CredAble provides working capital and related liquidity programs for enterprise supply chains, leveraging its trade finance expertise, partnerships with capital providers, and its world-class technology platform.
The goal is to make ‘CredAble’ synonymous with ‘Working Capital’ and hence the mission statement is think Working capital… think CredAble.
CredAble’s vision is to create holistic financial inclusion that would triple the availability of working capital, wherein the ripple effect has a significant growth in India’s GDP.
The co-founders of CreAble highlight the Culture Statement of the company – “There are 6 Core Culture statements that we at CredAble completely align to and this is how we stay on our Mission”, said they:
We are Audaciously breaking boundaries
Proposing ‘out of the box’ solutions to customers
Solving big problems that matter
2. We are humbled
By the partnership and support of our shareholders
By the opportunity to make a difference in this world
3. We are Generous
We give ourselves fully
We share our knowledge and insights freely with all
4. We are enablers of Context to Content
We are aware of ‘Why’ of ‘What’ we do every day
Create a Powerful contextual relationship
5. We set the measure
Set the benchmark of excellence in everything we do
CredAble’s focus is to expand financial inclusion for the MSME base through its solutions like:
Post-Invoice Early Payment Program enables all suppliers, irrespective of size and stature, to get working capital against their invoices in exchange for a discount. These discounts are derived using CredAble’s proprietary credit assessment model that takes into consideration multiple data points, thereby, enabling the vendor to get access to working capital at their respective bankable rates. The program is designed for vendors to avail working capital on tap without collateral and recourse.
Just in Time (JIT) Financing is a pre-invoice financing program designed to bridge the gap between payment obligations and receivables from Corporate. It is based on the occurrence of ‘billable events’ and funding milestones like Purchase Order, Proof of Delivery, Goods Received Note, Goods Acceptance Note, or client-approved MIS. CredAble’s platform automates financing and real-time tracking of such transactions.
Financial inclusion through tokenization enables access to working capital for multi-layer supply chains encompassing vendors and sub-vendors. Each series of tokens issued through the CredAble platform represents an underlying invoice value and has a finite expiration period. Tokens can be encashed at any point by vendors and sub-vendors up to expiration at their specified cost of finance. This is enabled through CredAble’s proprietary platform which digitizes the entire process right from issuance to settlement. A first in the Indian industry.
CredAble is focused on enabling working capital for India Inc. Currently, there is a USD 75 billion working capital gap in India. Furthermore, there are approx. 75 million MSMEs, of which, only 16% have access to formal credit, thereby, creating a USD 350 billion credit gap.
The Covid 19 pandemic only exasperated the MSME sector, as major financial institutions such as banks started to reduce their MSME credit lines and diverted the same to large corporates, which further fueled the need to create financial inclusion for the MSME segment. With India’s current quarter-on-quarter GDP growth rate at 1.6% for FY 2021-22, of which the MSME contribution is approximately 30% will further fuel the requirement of working capital for India Inc.
Fintechs such as CredAble will become the backbone for working capital availability for India Inc going forward.
CredAble – Founders & Team
Nirav Choksi, Ram Kewalramani and Rajiv Ramnarayan are the founders of CredAble.
CredAble Founders and Team
Nirav Choksi | Co-Founder & CEO, CredAble
He has been an entrepreneur for almost 25+ years and has incubated and scaled businesses raised debt and equity financing, and built multi-disciplinary global teams in the areas of technology, private equity, and international commodities. Nirav heads the Sales, FI Coverage, Tech & Human Capital functions at CredAble.
Prior to CredAble, Nirav co-founded and led Equentia Natural Resources Pte Ltd., a multi-commodity trading and structured finance company with offices in Singapore, Jakarta, Dubai, and Mumbai. ENR is amongst the top 5 importers of Indonesian Thermal Coal for the private sector in India with revenues in excess of $500 Million a year and trading volumes of over 10 Million MT. ENR also has a significant structured trade finance and debt arbitrage operation. Prior to that Nirav has founded several companies in the internet and technology space and has had 3 successful exits. He is an active early-stage investor in tech-enabled consumer-led ventures and has invested in over 25 opportunities. Nirav studied computer science and economics at the University of Michigan.
He has had a career spanning over 18 + years working in leadership positions. Ram has gained invaluable insight and expertise in the domains of Investment Banking, Marketing, Finance, and Operations. As an acknowledged veteran of the Employee Transportation industry, he brings valuable industry insights, experience, and connections to further the establishment of the vision behind CredAble. Ram heads the Fincon, Credit Risk & Risk Operations functions at CredAble.
Prior to founding CredAble, Ram spent 14 + years in investment banking and P&L leadership capacities. Previously, he was a shareholder and CEO of People Premier Logistics, a successful employee transportation business. Prior to becoming an entrepreneur, Ram was an investment banker with Centrum Capital and Grant Thornton.
Rajiv Ramnarayan | Founding Member and Board Advisor, CredAble
Rajiv Ramnarayan acts as a Founding Member and Board Advisor of CredAble. Ramnarayan has completed a BEng. (Hons.) in Electronic Engineering from Sheffield Hallam University. Starting as an Industrial Trainee with IBM, Ramnarayan has served as a Business Development Associate at Laing O’Rourke, a Partner at Doehle Danautic Logistics, and is still serving as a Co-Founder and CEO at Equentia Natural Resources Pte Ltd.
Current Company Size, Work Culture & Hiring Funda –
CredAble values employees like the way it values its clients and strongly follows the below-mentioned culture statements:
We are Audaciously breaking boundaries
We are humbled
We are Generous
We are enablers of Context to Content
We set the measure
We are responsible
At CredAble, the hiring process is efficiently streamlined to ensure to hire the right talent for the right job. They have detailed BEI interviews both at the Functional & HR interview evaluation stages. The CredAble team currently consists of a 51-200 member workforce.
The founders in their previous avatar, have had a great deal of exposure to the working capital gap in India. Nirav, who comes with over 25 years of work experience across IT Services, Commodity trading, Trade Finance, was dealing with banks to create structured trade finance flows for his trading business. Ram, who comes with over 18 years of work experience, was the CEO of a large logistics business which required him to constantly focus on raising working capital, but always found it difficult given the traditional approach used by banks and NBFCs. This amalgamation of experience made both the founders believe that they were the most pertinent people to co-create programs that would enable working capital for India inc.
CredAble started its journey to enable working capital within the logistics sector. The product was split into two categories namely JIT financing and post invoice financing. This permutation & combination of the product reduced the cash-to-cash cycle of the logistics borrowers from an average of 110 days to under 24 hours! All of this was enabled through technology without any human intervention. Once this model was proven, these offerings were expanded to multiple sectors.
Their initial conversations were with CFOs/procurement heads of large corporates who were extensively outsourcing their logistics requirements and were facing multiple challenges from their vendors, who were unable to cope with the clients’ requirements due to the shortfall of working capital. With the validation from the success of these programs, CredAble’s model expanded to include all types of vendors and not only logistics vendors.
The team’s strategy has always been to enable working capital using the Anchor down approach wherein they were looking to tie up with large corporates to enable working capital for their entire supply chain ecosystem.
While it was a new concept in India, the founders were extremely confident of the programs and value add that they were creating for all the stakeholders. The initial approach was to reach out to all connections and showcase CredAble’s value proposition. While the response was positive the preliminary movement was slow. As they demonstrated the impact, there were higher levels of acknowledgment & acceptance which catapulted CredAble’s outreach. Word of mouth quickly enabled CredAble to onboard multiple large and multi-national clients.
“While we have a large coverage team as well as partnerships, our largest clients have been converted through existing referrals and word of mouth” Co-founders of CredAble added.
Since its inception, CredAble has enabled in excess of INR 6,000 crores and more than 11,000 borrowers covering over 100,000 transactions with 0% NPAs. This has culminated as an outcome of the team’s single-minded focus on execution.
CredAble – Name, Tagline and Logo
Given the focus of the business was to “enable credit” the name CredAble was apt.
The tag line – We Must because…. We Can, symbolizes the company’s approach – “Nothing is impossible as long as we believe we can!!!” In order to change the existing traditional mindsets, the first step is to believe we can.
CredAble Logo
While they were designing the logo it was important that all stakeholders understand who they are and what they do. The emphasis of ‘A’ in CredAble is to showcase it as –
An en-Abler of working capital, and
To depict upward growth “↑”. This in turn would create an impact not only for India Inc but the GDP as a whole.
CredAble – Business Model & Revenue Model
CredAble is a B2B supply chain finance company that develops partnerships with corporate entities to “extend a scalable supplier and dealer/distributor financing platform.”
The CredAble revenue model is a fee-based model. Here, we should understand that CredAble doesn’t levy any fixed, upfront or registration costs for either the corporate or their suppliers and distributors. Besides, the company’s own NBFC also participates in some of its supply chain financing programmes, which helps create a yield-based income.
CredAble’s Marketing campaigns have been holistic in approach with key properties introduced to cater to each business need.
Some of its well-received marketing properties include –
Insights by CredAble – It takes interesting popular concepts in today’s day and age, and tries to come up with its working capital assessment for people to understand its importance and potential. CredAble’s recent coverage on IPL working capital was well-received (One can get more information on CredAble Case studies here – credable.in/credable-case-studies/)
An excerpt of CredAble’s recent coverage on IPL working capital
Candid by CredAble – In this interesting talk show, CredAble’s CEO and host Nirav Choksi talks to industry leaders within enterprise ecosystems to get into their thought process, it’s fun and engaging content filled with interesting anecdotes. This has gained traction and the company has already rolled out 3 episodes.
Working Capital 101 – The company deems it to be its responsibility to share knowledge around new concepts around working capital which can be very helpful for businesses. Hence, as a step – it launched working capital 101 under business insights which churn out content weekly around helpful concepts around working capital and financing.
Product Explainer videos to educate CFOs, Vendors, Banks, Financial Institutes on how CredAble programs have been enabling working capital.
“The success of our marketing lies in growing organically and giving tangible results to our clientele” as said by the founders of CredAble.
CredAble – Funding and Investors
CredAble last raised $9 mn from a Corporate Round on August 2nd, 2022, led by Axis Bank and OAKS Asset Management. CredAble last raised around $30 mn in its Series B funding round led by Plutus Wealth Management and the existing investor, OAKS Assets Management (formerly known as Alpha Capital).
The company has raised $58.59 mn so far, which includes its bridge round worth $4.42 mn (Rs 33.18 cr) in October 2020, its Series A round of $12.59 mn (Rs 100 cr), and its primary seed round of $2.5 mn.
Date
Name of the Funding Round
Deal Value
Lead Investors
August 2, 2022
Corporate Round
$9 mn
Axis Bank and OAKS Asset Management
October 19, 2021
Series B
OAKS Asset Management and Plutus Wealth Management
Starting with 3 employees, initially, when it was launched in March 2017, CredAble now has somewhere between 51-200 employees, which indicates that it has grown strong year-on-year. CredAble’s employee count rose to 12 by March 2018, and with the passage of another year, this went up to become 70 employees.
CredAble went live in October 2018, and since then, it has processed Rs 300 crore+ worth of transactions on a monthly basis. Furthermore, CredAble boasts of boarding more than 100 corporate customers, 300K+ small business borrowers, and 30+ financial institutions as well as banks on its platform. CredAble has witnessed 500% YoY growth, as per the platform’s statements.
CredAble’s total income has been reported to be registered at Rs 8.35 crore in FY22, which earlier stood at 2.46 crore in FY21 and Rs 27.64 crore in FY20.
CredAble – Challenges Faced
“It was a new concept and hence took time to be understood and accepted. The solutioning aptitude versus selling a product worked well for us to showcase the value we created to make working capital accessible to all” Co-founders of CredAble added.
CredAble, as an early-stage business, has had its own challenges along the way. Fostering a widespread acceptance of the non-traditional supply chain finance programmes, long sales cycles, long turnaround time in technology integration and others of CredAble, was tough indeed.
“However, customer acquisition follows a domino effect on our business. After securing our first few clients, which took a bit of time, the rest have started to follow at a much faster pace,’ added the Co-founder of CredAble.
The Fintech and Deep Tech categories at NASSCOM Emerge 50 Awards 2020
The Best Supply Chain Finance Solution of the Year 2019 at the Inflection 2019, a leading supply chain summit.
The Oracle Startup Cloud Accelerator Program 2018
SAP Startup Studio Cohort 2020
The Best FinTech Startup 2018 at by the Maharashtra Government
CredAble – Future Plans
The future plan is to cover all aspects of Working Capital by the means of enabling true financial inclusion for millions of MSMEs. “We are already covering all metro cities within India and have set up business teams to increase our outreach. The goal is to disburse in excess of USD 1 billion per month going to USD 2 billion per month” the Co-founders of CredAble mentioned.
FAQs
What is CredAble?
CredAble provides working capital and related liquidity programs for enterprise supply chains, leveraging its trade finance expertise, partnerships with capital providers, and its world-class technology platform.
Nirav Choksi, Ram Kewalramani, and Rajiv Ramnarayan are the founders of CredAble.
What is CredAble’s tagline?
CredAble’s tagline – We Must because…. We Can, symbolizes the company’s approach – “Nothing is impossible as long as we believe we can!!!” In order to change the existing traditional mindsets, the first step is to believe we can.
How does CredAble make money?
Early – Fees percentage over the savings generated for the Anchor.
Lending – Net Interest Margin and upfront processing fees on the Asset Under Management (AUM)
Who is the CEO of CredAble?
Nirav Choksi is the Co-founder & CEO of CredAble.
How much funding has CredAble raised?
CredAble raised $58.59 mn in funding to date, as of August 2022.
MapmyIndia is known to be one of India’s most comprehensive GPS navigation and tracking solutions providers, which engages the users on multiple platforms. The New Delhi-based company first started its venture online as C.E Infosystems back in 1995 and eventually migrated into consumer navigation devices, fleet-tracking solutions for taxi and trucking companies, and mobile apps. Today, the company offers an entire API stack, IOT devices, and a map app and is also a strong competitor to the global giant Google’s mapping app.
The company has so far mapped over 10.54 million unique destinations, expanded its coverage to over 6.29 million kilometers of the road network, 7068+ cities at street level along with address level for 80+ cities. It also covers 600K+ villages and 3D and 2D landmarks in 86+ different cities. It has so far recorded 18+ million places. Not only that the company has also divulged into offering a variety of different services. It offers services like navigation functionality, tracking and telematics, and location-based analytics.
MapmyIndia has its own API stack through which the company aids developers who are looking to build interesting and unique apps powered by a geo-locational element such as OLX, Flipkart, and smart parking systems. The company now has 5,000 enterprise customers. It also claims to have captured an 80% market share in revenue in the location intelligence space.
It has more than 2,000 customers on its SaaS platforms, which are used for fleet management, location analytics, etc. among other things, made possible because of the successful business model that MaymyIndia brandishes. Other smaller players that compete with MaymyIndia in the IoT-powered GPS devices segment include Asset Tracker, TrakNTell, and CaRPM.
Rakesh Verma and Rashmi Verma, The founders of MapmyIndia
MapmyIndia is an Indian technology company that builds digital map data, telematics services, location-based SAAS, and GIS AI services. The company has its headquarters in New Delhi, regional offices in Mumbai and Bengaluru, and an international office in the San Francisco Bay Area. MapmyIndia was founded in the year 1992 by Rakesh Verma and Rashmi Verma. The company had its humble beginning when the couple launched a startup called C E Info Systems Pvt. Ltd. in New Delhi.
The company initially started working upon developing a web mapping technology and providing products and services required for enhancing marketing and logistics efficiency in the existing organizations in the country. MapmyIndia launched the first Indian interactive digital mapping portal in 2004, which provided free, customized, location-based services.
In 2010, MapmyIndia launched a GPS navigation service called Road Pilot, preloaded with Indian cities, villages and destinations and destinations. As of 2018, it has 5000 plus enterprises customers and over 250 million consumers benefit directly and indirectly from its services. MapmyIndia has also expanded to countries like Sri Lanka, Bangladesh, Bhutan, and Nepal and soon plans to release maps for the different parts of the world.
During the trying times of the pandemic, the company launched a Covid19 dashboard that mapped containment zones and Covid19 testing and treatment centers across India in real-time and made it available for millions of users free of cost. This immediate move benefitted many users needing this information, whereas Google was slow to respond and released it many months later. It also won the Government of India’s Atmanirbhar App Challenge for its consumer app.
In December 2021, MapmyIndia parent company, the valuation or the market capitalization of the company currently stood at over $1.03 Bn.
MapmyIndia – Products and Services the Company Offers
MapmyIndia is well known for its services like Navigation, Tracking, IoT, Analytics, and web mapping service for desktop and mobile devices.The company also offers advanced GPS tracking devices, car in-dash infotainment, and plug and play on-board diagnostics, car trackers. The navigation service features street-view, public transit information, and turn-by-turn navigation with spoken instructions for vehicles. The main services that the company offers are:
Professionally curated and continuously updated detailed maps that offer unmatched coverage – These maps enable web and mobile applications, with the most granular house-level building data, live traffic, location-based demographics, and socio-economic data.
Real-time data visualization and big data analytics to make more informed decisions – Maps provide a visual context that helps customers to increase productivity, involving location like site selection & resource allocation that helps with efficient business growth.
Smart mobility platform for sale, convenient and efficient mobility – The company is focused on building technology platforms for connected vehicles and travelers paving the road for autonomous multi-modal and safe mobility.
Connected Vehicle IoT ensures the safety and security of vehicles, people, and assets – The company also believes in providing a secure, intelligent, and modular location-based IoT platform, providing accurate and reliable maps with live traffic, road conditions, safety alerts, driving patterns, and other travel services.
MapmyIndia Launched Panoramic Street View Experience
MapmyIndia announced the launch of a panoramic, street view feature, which will be similar to the panoramic, three-dimensional experience of Google Street View. This technology, which is refered to as Mappls RealView, will help the users explore the cities of India almost as Google offers. Currently, Mappls RealView covers metropolitan areas and cities including Bengaluru, Delhi NCR, Greater Mumbai, Chennai, Pune, Hyderabad, and Jaipur. Besides, it also covers nearly 100,000 kms of highways, which links these cities and towns. The repository of Mappls RealView currently consists of 40+ Cr geo-tagged panoramas, videos, and panoramas, as of July 28, 2022.
A metaverse-like experience has also been launched by MapmyIndia, via Mappls. This now features numerous tourists, commercial and residential landmarks and more, across India. In order to create a 3D experience, the listed startup has revealed that it uses satellite imagery data from the Indian Space Research Organisation (ISRO).
MapmyIndia – eLoc: Electronic location as a key to Digital Address
MapmyIndia has presented eLoc (electronic Location) as the country’s key to digital addresses. eLoc by MapmyIndia helps in finding the electronic location of any place, be it a building, flat, office, business, city, village, locality, road, and so on, is a short, 6 character code (for e.g. 8GDTYX, or MMI000). This is easy to remember, share, type, and provide. eLoc claims to provide a comprehensive, accurate, and precise door-step level, 3D digital map database, and turn by turn navigation solution.
eLoc is essential when a person, business, or official searches for a place by entering the code. They can see the precise map location of the place beside its location, such as reviews, photos other information provided by the place’s owner, businesses, and government. MapmyIndia updates its digital database every quarter and takes into account the feedback of the enterprise’s customers, individual users, on-ground staff, and its own surveyors as well.
When Rakesh and Rashmi Verma first started out to build their own startup they were determined to do something for the country and thus, decided to make it their life’s goal to build the country’s first digital map based on a database of India. This was a difficult task in the beginning because India is known to be vast and with varied geographical and topographical diversities. This is why they decided to make their own database, “Top Down and Bottoms Up”.
The Top Down system included that the company digitally traced whatever paper maps were available using tablets and other IT and electronics devices. On the other hand, the Bottom Up was meant to survey different parts of the country. The team of MapmyIndia played an important role in surveys as they had to practically walk down the streets and by-lanes of the country and also conduct field surveys.
The company has a customer-funded business model and has had popular companies like Coca-Cola, Marico, Hindustan Unilever, and the Indian defense service as their enterprise customers. All of these were possible due to its team of more than 400 surveyors, post-physical and satellite surveys, and most importantly, its 25 years of research. The company now has a repository of more than 2 Cr data points, including 3D data visualizations, telematics, and navigation systems under its belt.
Map Data collection work
The company not only sends more than 400 surveys in the field but also collects hundreds of attributes like footprints, doorsteps, floor numbers, flat numbers, and photographs of every location. It is because of this information that the company has created a digital map of the country of inter-connected information with all those geographical markers and coordinates. MapmyIndia has also entered into more than 100 strategic partnerships with tech and marketing companies, to facilitate the process of data collation faster.
Four Key Markets of MapmyIndia
In terms of the verticals, MapmyIndia addresses four key markets:
Direct consumers (through free and paid app/maps)
Automotive (40% of revenue)
Mobile Internet (20%) and
Enterprises and government (40% of revenue).
MapmyIndia – Revenue and Financials
MapmyIndia QoQ Financials
The operating revenue in Q1 FY23 of MapmyIndia, grew by 50.2% to stand at Rs 65 crore when compared to the revenue it received in the corresponding quarter in FY22.
The expenses of the company also increased by 37.5% in Q1 FY23, when compared with the Rs 27.4 crore expenses it registered in Q1 FY22. The expenses of MapmyIndia in Q1 FY23 are registered at Rs 37.7 crore.
The PAT of MapmyIndia rose 17.5% YoY in the first quarter of FY23, to become Rs 24.2 crore.
MapmyIndia YoY Financials
MapmyIndia’s revenue from operations was close to Rs 200 crore in FY22. The company earlier registered Rs 153 crore in operational revenue, which grew by 31%. The revenue from operations of MapmyIndia was previously noted to be Rs 135.2 crore and Rs 149 crore in FY19 and FY20 respectively.
The expenses of MapmyIndia rose only slightly, by 11%, up from Rs 113 crore in FY21 to become Rs 125 crore in FY22. MapmyIndia expenses were earlier registered at Rs 120.16 crore in FY19 and Rs 131.78 crore in FY20.
MapmyIndia profits after tax (PAT) stood at Rs 87 crore in FY22, which witnessed a 45% rise from Rs 59.4 crore worth in profits in FY21. The profits were earlier Rs 33.6 crore in FY19 and Rs 23.2 crore in FY20.
MapmyIndia – Market Share and Funding of MapmyIndia
MapmyIndia cloud mapping services are used by many well-known tech companies such as Paytm, PhonePe, Amazon, Alexa voice, Flipkart, Uber, Ola, Grofers (now Blinkit), for various things like planning, operations, and customer experience. The company also offers advanced navigation and location services to the vehicle manufacturer and has a 95% market share in GPS navigation in India. It also claims to have 5,000+ enterprise customers with an 80% market share in the location intelligent space.
MapmyIndia Funding
MapmyIndia has so far raised $34 million in venture capital financing in the three rounds since 2007 from Lightbox Ventures, Nexus Venture Partners, Qualcomm Ventures, and Zenrin. In 2015, Flipkart announced that it has acquired 34% stake in the company for Rs 1,600 crore and provided a successful exit to MapmyIndia’s early investors.Over the years, the firm’s value has more than tripled due to the increase in the adoption of its technologies.
Date
Name of the Funding Round
Deal Value
Lead Investors
May 1, 2014
Venture Round
–
Lightbox
February 15, 2009
Series C
$9 mn
Qualcomm Ventures
August 10, 2007
Series B
$25 mn
–
April 19, 2007
Series A
–
–
MapmyIndia IPO
The company filed its draft offer documents with the Securities and Exchange Board of India (SEBI) on August 31, 2021. In its IPO, MapmyIndia was initially expected to go with an offer-for-sale of up to 7,547,959 equity shares by shareholders at a face value of Rs 2 each. This amounted to around 19% of post-offer paid-up equity share capital.
C.E Info Systems, MapmyIndia’s parent company, has increased its total IPO offering to 9,589,478 equity shares, as per the reports dated October 20, 2021. MapmyIndia parent has received SEBI’s approval for its IPO that will consist only of an offer for sale (OFS) from the promoters and the existing shareholders and would offload up to 9,589,478 equity shares, as per the reports dated October 30, 2021. C.E Info Systems had gone live with its IPO on December 9, 2021, where it has seen a strong response from retail investors. The IPO was subscribed around 0.53 times or 53%, as per the reports on 11 am on the same day.
The IPO of MapmyIndia parent witnessed a subscription of over 154 times, as reported on December 13, 2021. The upper limit of the IPO price band was at Rs 1,033, where the offer attracted bids close to Rs 1.12 lakh crore, as disclosed on the same date. The MapmyIndia shares were listed at Rs 1581, which is a 54% premium to its IPO price of Rs 1033 per share.
Email marketing is one of the best marketing techniques in today’s time. However, it needs the best practices in mind to ace the final field of success. If you are willing to donate your time to practice for good, then it is better to use it in creating campaigns, getting control of the small rookie mistakes you make, and optimizing emails to expand working engagement. These are of course the basic steps but also paramount. However, these are not the only strategies that will lead you to success. In this article, we will go through some of the most important metrics that matter in measuring the success of your email marketing strategy.
However, before you dig too deep into learning the metrics for successful email marketing, you must pen down your goals in this field. Also the first step toward having an idea about your goals and dreams is to know what exactly ‘Email marketing’ is.
Technically, it is an act of sending official information or messages to a concerned team of workers or an individual via email. However, most of the messages are commercial and in this context, for every email you sent to a customer, the whole act becomes a part of email marketing. In simple terms, emails sent for a commercial purpose are considered the act of email marketing.
Furthermore, email marketing involves sending requests for business, advertisements, soliciting donations, sales divisions, and more. However, the regular change of metrics has no impact on the basic three strategies you need to know before stepping into the world of email marketing that are- trust, loyalty, and brand awareness. These three are probably the most basic foundation to enhance the relationship between a merchant and its customers.
Most Important Email Marketing Metrics
The metrics used in email marketing keep on changing from time to time. So it is always better to stay up-to-date with the marketing policies, and trends, and then pen down the strategies for one’s business. The following are some of the most important metrics of email marketing:
Conversion Rate
The first metric on the list is conversion rate. This rate refers to the percentage of people who not only opened your email but also performed the desired action. This is considered as the most important amongst all as this metric is what really defines the ultimate goal of any email marketing campaign. It is usually suggested that a conversion rate should stay above 2% in order to ensure the effectiveness of a campaign.
Click-Through Rate (CTR)
Email Click-Through Rate as per Days of the Week
Every time you are sending an email to your subscribed customers, try to insert CTR to link them with the concerned website with just a touch. The easier you make it for the customers to visit your main page, the higher traffic you will receive within a few days. Moreover, CTR is a very common type of metric that measures customer traffic to your site or the number of people who clicked on the links that are present in your email list. Therefore, if your goal is to expand the effects of your email marketing across the world, it’s time to boost your CTR. Moreover, it is always better to add attractive one-liners under or above the links to convince the customers to visit the link.
Bounce Rate
Do you know what is the most common nightmare in the case of email marketing? When you send an email to your customers and it doesn’t get delivered. Well, this might be due to casualties from your side or a technical glitch. But this is something you should keep a check on whenever you send a business email. You must be wondering how is this possible, well that is what bounce rates are for! Generally, it keeps a count of how many applied email addresses did not receive your email.
If your email contains hard bounces then it may imply that your email is full of spam stuff. So, when the bounce rate is low, it means that your emails are of good quality and when the bounce rate is high, that indicates poor quality emails. Therefore, bounce rate is one of the most important email marketing metric.
Spending efforts on those subscribed customers who are of no benefit to your finance must be eliminated. Stop wasting your money on ineffective campaigns that bring no good to your business. So here comes another important metric for email marketing. This metric is extremely important as it helps you to know the returns you are getting on your campaign investment. Also focus on other metrics like web traffic, clicks, and conversions as it plays a very important role in tracking the ROI of a concerned email.
Open Rate
Email Open Rate as per Dyas of the Week
Whenever you are searching for the best metrics to make your email marketing reach to the best heights, your open rate is what you must focus on. The email open rate is widely influenced by subject line performance. Just remember that if your email campaigns have high open rates then it implies spam-proof content. Make your products and advertisements more appealing so that it brings home benefits after the first launch. You must be thinking that how to calculate the email open rate. Well, you can do this with the help of the formula- Divide the number of emails read by the total number of emails sent. And then multiply the resultant by 100 and here you get the answer!
Replay your mind through the spam folder while you are calculating the email metrics. You must know that the customers have the authority to report your email as soon as they find something weird or suspicious. Spam attacks are quite common in emails. Therefore, you must keep a note of spam complaints. Also, keep in mind that if you get a spam-compliant rate of 0.01% then it is quite good whereas 0.05% is wrong for your business. To calculate this, you can use the formula- Divide the number of complaints you received by the total number of emails sent. The number you get, multiply it by 100 and you have got your answer.
Unique Click Rate
There are a lot of email metrics which include click rates from various sections and a unique click rate is one of them. the total number of unique recipient email clicks divided by the number of emails delivered in the campaignis what the unique click rate defines. For example, suppose you have sent three links in an email to someone. If the person clicks on all three then he scores you three clicks with one unique click. Moreover, a higher unique click rate implies to clear CTR which is good.
Domain Open Rate
This type of rate ensures the number of people who showed interest in your emails under a particular email provider. This metric is super useful as it will help you to any issues happening due to any domain’s spam filter. Therefore, all you have to do is to calculate the average click rate among the providers and then compare it with other individual providers and that is how this Domain Click Rate works.
Engagement Rate
Another important metric in email marketing is the engagement rate. This means tracking when and how much does your customers engage with your email marketing campaign. This enables you to know the time and days when your emails are receiving a maximum reaction from your customers. Therefore, it will help you to know the right time to send the right emails to the right people.
When you are running a campaign, of course, you don’t want the people to unsubscribe from your marketing campaign in the middle. The number of unsubscribes is a huge element of weakness and also a motivation. Well, a higher rate of unsubscribes has always been a turn-off. On the positive side, this makes a good impression on customers about your brand as you are giving the customers the opportunity to subscribe to or unsubscribe to the emails of their own choice.
This email marketing strategy convinces your customers to have faith in your marketing strategy and the way you treat them. It is an extremely important metric of email marketing that you can check easily on your metrics dashboard.
Conclusion
Therefore the above-mentioned are the top email marketing metrics every email marketer focus on to get success. All these can bring a huge positive change to your metrics dashboard. Email marketing does hold a lot of power in bringing change in the technical world. Therefore you need to memorize and work on the best metrics or strategies to manage your email marketing.
FAQs
What is email marketing?
Email marketing is a marketing technique in which emails are sent for commercial purposes to target specific customers.
What is the most important metrics in email marketing?
The following are the most important metrics in email marketing:
Conversion Rate
Open Rate
Click-through Rate
Bounce Rate
Number of Unsubscribes
Domain Open Rate
ROI
What is the most common marketing metric?
The most common and important marketing metric is Return on Investment (ROI). This is the most common as it ultimately determines the success and failure of the efforts one is putting into their marketing strategies.
PV Vyshnavi
