It’s often stated that 90% of startups fail. For entrepreneurs, this statistic can be rather intimidating.
Startups can fail for a myriad of reasons, including financial problems, marketing issues and an inability to fit into the market. However, one of the biggest problems facing startups is a lack of scalability. When a startup isn’t scalable, the ultimate goal of growth can become a curse.
If you own a startup, you must integrate scalability into your business model if you want to achieve success. Keep reading this helpful guide to learn how to build a scalable startup.
What Is Scalability?
Scalability doesn’t just mean growth. Of course, every business aims to continuously grow and expand, but without scalability, your efforts may be for nothing.
Scalability refers to a business’s ability to handle the pressures of growth. For example, a business must be able to handle the increased workload that comes with growth, and the operational costs of the business must not continue to increase and cut into profit as the business expands.
This is how growth – a goal for all entrepreneurs – can become a curse for poorly established startups. If you don’t ensure that your business is scalable, you may drown in the increasing costs and workload that your startup faces.
How to Build a Scalable Startup
So, how can you avoid these issues as an entrepreneur running a new startup?
Here are the top six tips:
1) Invest in Software
One of the largest burdens that startups face as they grow is an increased workload. In the beginning, you may be able to handle all processes within a small team, but as time goes on and you secure new clients, it can become more difficult to keep track of everything.
The right software tools can handle large amounts of data and automate complicated tasks, which will reduce the workload within your organization and allow your team to spend their time more efficiently. This will ultimately reduce labor costs as you won’t have to hire extra employees to keep the business afloat.
In particular, accounting software can save an incredible amount of time and money. Although there’s an initial investment, you’ll reduce costs over time by avoiding the need to hire a full-time accountant to handle your finances. You can also avoid time-consuming mistakes by having all data checked and managed by state-of-the-art software.
2) Create a Business Plan
Perhaps the biggest mistake you could make right at the beginning of your journey is not creating an in-depth business plan.
Without a clear set of aims and a strategy for meeting them, you won’t be able to handle challenges and obstacles in the future. Planning ahead is a key part of scalability; you need to structure your business according to the growth you anticipate, rather than waiting for the growth to happen and then rushing to restructure the company.
A detailed and comprehensive business plan is also extremely important for attracting investors. Having the backing of large investors could be the difference between sinking and swimming for your startup.
3) Focus on Marketing
A global marketing strategy can help your business expand far beyond your local market and achieve endless growth opportunities.
Nowadays, social media is an integral part of any business’s marketing strategy. With its global reach, social media marketing has vastly outpaced traditional marketing channels and allowed businesses to interact with customers around the world.
By setting up social media accounts on relevant platforms like Twitter and LinkedIn, you can attract international interest in your business and open up the possibility of global expansion.
4) Learn How to Delegate
As your business grows, it can be hard to learn how to let go of certain tasks and let your employees take charge. However, delegating tasks is a crucial part of leadership and scalability.
A scalable business has a clear management structure where everyone knows their tasks and who to report to. This makes workflows more seamless and efficient, which is especially important when workloads increase as a result of growth.
Therefore, rather than trying to take charge of everything and overloading your plate, you should delegate leadership responsibilities to your top employees. Delegating these tasks will save time and help you create a better company structure to handle more work.
5) Outsource
Your employees will grow and develop with the company, but you may reach a point where your team isn’t large enough to handle the workload, hiring new employees is too costly, or your team doesn’t have the right expertise for certain tasks beyond their scope. In this case, you may want to consider outsourcing certain business operations.
Although you don’t want to rely too heavily on outsourced labor, outsourcing can be particularly beneficial to a business that needs help with an issue outside of its area of expertise. For example, your business could outsource its marketing, accounting, or legal processes.
The main advantages of outsourcing include saving time for your team, reducing costs by not hiring new employees, and gaining access to expert help in areas outside the business’s scope. By outsourcing particular tasks, your business can grow sustainably and not overstretch itself.
6) Automate as Much as Possible
When your workload increases and processes become more complex due to growth, you’ll need to figure out all the things in your workflow that slow you down and eliminate all tedious tasks. Automation can help you do this.
As mentioned earlier, tools like accounting software can automate difficult tasks that take up a lot of your time. Overall, there are so many software tools that will automate various aspects of your business, including email marketing, project management, file backup, and social media posting.
Conclusion
Prioritizing scalability in your startup is one of the best ways to ensure sustainable growth. By creating an in-depth business plan, expanding your marketing strategy, learning how to delegate, outsourcing certain operations, and using software to automate time-consuming processes, you can scale your business successfully.
The risk of failure can be high for many startups. However, if you simply follow the six tips listed in this guide, you can learn how to build a scalable business and defy the odds.
The new startup ideas are booming these days. Their early age makes for a great opportunity for investments.
This funding helps the startup to grow and the investors get to enjoy the profits. This is a high-risk market. But if it goes well, it is bound to lead towards high rewards as well.
Nowadays, many young social media entrepreneurs have started investing in startups. One such example is Ranveer Allahabadia.
The young YouTuber, motivational speaker, and, podcaster has contributed to the funding of many startups. For example- Ready Set Jet, Qoohoo, Sahicoin, HYPD, etc.
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Ranveer, popularly known as BeerBiceps is a 29-year-old social media entrepreneur, hailing from Mumbai. He is also a YouTuber, motivational speaker, and popular podcaster. He is soon to be an author as well.
Ranveer belongs to a family of doctors. He, himself has done Engineering in electrical and telecommunications. His journey in the digital space began in 2014 when he started a YouTube channel. There, he shared his own journey of weight loss and fitness.
Along with fitness, he also made videos related to men’s fashion and lifestyle. With time and continuous efforts, his channel gained popularity and subscribers started to pour in. A channel that started as his personal journey is now one of India’s most popular fitness YouTube channels.
After that, he started his podcast in the year 2019. The podcast is named ‘TheRanveerShow’. This is one of the most famous podcasts in India. Here, he invites guests and discusses their success and failure stories throughout their lives.
He has had conversations with many popular celebrities on his podcast. These include Priyanka Chopra Jonas, Arnold Schwarzenegger, Ayushmann Khurrana, Dwayne Bravo, and many more.
Ranveer Allahabadia is a proud founder of his company BeerBiceps Pvt. Ltd. Also, a co-founder of Level, BigBrainco., and Monk Entertainment. Overall, these years, Ranveer has made a great place for himself in the digital space.
Startups Funded by Ranveer Allahabadia
Ranveer is a young popular entrepreneur in the digital space. He is a growth seeker who likes to explore new things. As an entrepreneur, he believes in certain ideas that the new-age startups come up with.
Here are the startups funded by him:
Sahicoin
Sahicoin – Ranveer Allahabadia Funded Startup
It is a crypto native social networking startup about crypto, founded in the year 2021. It has a network of experts and enthusiasts of crypto. It offers the latest crypto news and also gives recommendations for investments.
The idea of crypto is gaining great popularity in the market. But many people find it hard to understand. So, this startup provides simple and understandable information from the experts. This helps people to learn, understand, and make better investing decisions.
Ranveer is one of the investors in this startup. He shares the space with many other popular names. For example – Suresh Raina, Kunal Shah, Naveen Kukreja, etc.
Ready Set Jet
Ready Set Jet – Ranveer Allahabadia Funded Startup
It is a beauty startup, founded in the year 2019. The brand aims to empower women with easy-to-use beauty products and education. It was born in Los Angeles and has offices in India as well.
The products of this startup are vegan and cruelty-free. All their products, including makeup, have skincare built in them. They have products that allow you to enjoy the benefits of 2-4 different products in one. Their natural and easy-to-use products are perfect for modern women.
Ranveer Allahabadia is an investor in the brand. Along with the investment, he is also helping them with their expansion in India.
It is a social platform startup, founded in the year 2020. It empowers the creators to create engaging content and experience for their followers. The app allows the creators to launch their private community with a focus on monetization.
It is a one-stop solution for the creators. It helps them manage, organize and monetize their community. The app aims to make engagement more comprehensive and scalable.
Being a social media influencer and an entrepreneur, Ranveer has funded this startup. He shares the space with Kunal Shah, Rohit Bansal, Tanmay Bhat, and more.
Stage
Stage OTT – Ranveer Allahabadia Funded Startup
It is a regional OTT platform, launched in the year 2020. The platform offers content in Haryanvi and Rajasthani languages. It aims to increase the content from other regional languages as well.
The main target for this platform is to reach a massive audience who prefer content in their regional languages. One can watch standup comedy shows, poetry shows, entertaining shows, etc. here.
Ranveer is one of the investors in this regional OTT platform of India.
HYPD
HYPD – Ranveer Allahabadia Funded Startup
It is a platform for creators launched in the year 2020. This platform allows creators to launch their multi-brand stores in merely thirty seconds.
It is like a marketplace owned by digital creators. The main aim of this startup is to help the creators become creator-preneurs. In this way, they will be able to create a sustainable source of income for themselves.
Ranveer Allahabadia is one of the popular entrepreneurs who has invested in this startup. Many other influencers and digital creators have invested in it. For example- Tanmay Bhat, Dhvani Bhanushali, etc.
The creator’s industry is not getting more and more interested in startup investing. Being young achievers, they are able to understand the value of new innovative ideas. They have gained great experiences in their fields at a young age. So, investing in startups proves to be a great opportunity for profits as well as learning.
Conclusion
Ranveer Allahabadia was just an ordinary Engineering student. Now, however, he has become a name known to all in India. It is his consistency, dedication, and zeal to learn new things that have made him what he is today.
There is no area in the digital space that he has not touched. Sharing his personal journey made him a popular YouTuber. After that, there was no stopping. He became a motivational speaker and gave leadership lessons. This made him a great source of encouragement for the youngsters.
Soon, after gaining so many roles in this pocket, he turned into an entrepreneur. He is now an investor for many startups (as mentioned above). He is like a role model for many youngsters. After all, there is no role that this young engineer turned into an investor has not played well.
FAQs
Who is Ranveer Allahabadia?
Ranveer Allahabadia is popular as BeerBiceps. He is a YouTuber, motivational speaker, and popular podcaster.
What is Ranveer Allahabadia’s age?
Ranveer Allahabadia is 29 years old. He was born on 2 June 1993.
What are the startups funded by Ranveer Allahabadia?
Startups funded by Ranveer Allahabadia are:
Sahicoin
Ready Set Jet
Qoohoo
Stage
HYPD
What is the net worth of Ranveer Allahabadia?
Ranveer Allahabadia has a net worth of $6 Million.
With the advent of digitalization, the rise in threats of cyber-attacks comes in. We have reported large figures in cases relating to cyber-attacks both in the corporate sector and among individuals as well.
Cyber-attacks have played a major role in bringing cyber insurance to the core. Cases of rising cyber fraud are not only limited to companies but also individuals. Therefore, cyber insurance is a considerable option.
An immense rise in the cyber insurance market has been seen globally. The figures are estimated to reach USD 20 billion by 2025. Indian base for cyber insurance is around Rs. 500-700 crores.
Several cyber insurance providers cyber insurance to cover individuals and companies as well. A few cybercrimes coverage included in the cyber insurance policy are social media liability, cyberstalking, IT theft loss, cyber extortion, and many others.
A majority of cases reported globally and in India are related to e-mail based attacks, malware or ransomware, and phishing attacks.
The term cyber insurance is synonymous with cyber risk insurance and cyber liability insurance coverage. A cyber insurance policy helps an organization to continue to run even in case of a security breach. It acts as a friend in disguise that offers a helping hand in times of crisis.
Cyber insurance acts as a helping hand to mitigate the exposure of risk by offsetting the costs involved as it consists of various policies of recovery in case of a breach regarding cyber security.
Why is Cyber Insurance a Must for Every Company?
The reports of Ponemon Institute’s Cost of a Data Breach says that data breach costs $3.9 million on average. It includes remediation, continuity costs, fees, etc.
Cyber insurance comes into light as a friend in disguise that assures an organization needs not to bear all these costs alone. Cyber insurance helps to get prepared to respond effectively in case of a data breach.
The 2019 survey report by Marsh and Microsoft mentions that about 47% of businesses have cyber insurance cover. Apart from this, 89% of businesses are in confidence that their cyber insurance policies cover the costs of any cyber event that might occur. These stats depict an increasing number of organizations buying cyber risk insurance.
Cyber risk insurance is important for risk mitigation. A single cyber-attack on an unprepared company can put it totally out of business. Therefore, the implementation of a cyber risk management program is a must for all small and big organizations. The program must include at least the following three things:
Notices the risks to which an organization might be exposed to
Helps a company prevent breaches
Helps the company to recover from a possible breach
Following are a few reasons that make cyber insurance a must-have:
Not only the big businesses but also the small companies are targeted by hackers. Small businesses are at a greater risk instead, as they do not have proper financial resources to bounce back after a cyber attack or data breach.
Data is a critical business asset that must be protected. The value of data is as important as the device in which it is stored. A cyber policy offers coverage for data restoration in the event of a breach of data.
The organization might face harsh penalties in case of loss of credit card data. According to stats, credit card crime is a $7.5 billion industry worldwide and growing. Even the smallest retailers are exposed to this risk.
A ransomware attack, a computer virus, or an untrustworthy employee may shut systems down; a cyber insurance policy can cover your losses including the compromise with the data or the device in which it is stored.
Cyber insurance also covers costly claims such as defamation, breach of information, copyright infringement, etc.
Cyber Insurance policy offered by the companies ensures public trust and a reason to the customers to remain connected and save a large number of future sales resulting from customers that the company might lose to its competitors.
To ensure financial safety against any kind of cyber fraud, as any kind of breach ultimately leads to a lot of expense. Insurance companies offer cyber insurance policies that also cover any sort of monetary loss.
Any business venture that stores data online or in any way use technology is at risk of a cyber-attack. The outcomes can be shattering. Stats mention that the average cost to resolve a data breach issue is about $7 million.
Cyber insurance helps the company recuperate after a data breach. It is an essential option that includes costs of business interruptions, legal fees, revenue loss, public relations expenses, equipment damages, and legal costs. Cyber insurance plays a vital role in shielding the organization in the long run before a breach occurs.
With Indian businesses getting online, cyber insurance in India is the need of the hour with the proliferating cases of online breaches. Cyber frauds have taken a higher jump during the Covid-19. It has experienced a rise with the increase in digital payments.
Cybercrime is the world’s fastest-growing crime, cyber insurance is the solution.
FAQs
What is cyber insurance?
Cyber insurance is insurance that covers your liability and protects your company from Internet-based risks.
What are the benefits of cyber insurance?
Cyber insurance provides Data breach coverage, Legal support, and protects you from phishing, email spoofing.
What do cyber insurance policies cover?
Most cyber insurance covers any data that has been lost, damaged, stolen or corrupted due to the security breach.
We all know that our own physical and mental health is important, but did you realize your brand also has a lot of the same components? We’re not talking about just being Happiness or Successful – these values can quickly turn into something less than desirable if left unchecked.
“What kind?” people might ask; Well, there’s an easy way to find out! Symptoms include low productivity/performance at work (or home) and lacklustre relationships with others, both internally AND externally oriented towards one another.
So, it is essential that you diagnose your business and make sure that it doesn’t fall ill due to any unforeseen circumstances. Thus, you have to take care of your brand health.
What Is Brand Health?
Brand health is about how well your company performs overall. If the brand helps you achieve all of the goals that you have set for yourself, then it’s successful and a healthy one! Healthy brands are those that have a high brand score!
Why Is Brand Health Important?
Brand health is important because it can help your company achieve its goals. If the brand provides value and helps you reach all of these objectives, then that would make them successful! And as we know from the previous discussion about how healthy brands are those which have a high brand score – so this means having an effective marketing strategy will always lead towards optimum profitability for any business venture.
Benefits of knowing your brand health :
To determine what’s working for your branding strategy and what isn’t
Take an honest look at the performance of all elements that make up a cohesive whole.
Identify strengths and weaknesses – This will help you correct any problems before they get out of hand or worse yet, become irreparable!
Brand Health Metrics Every Company Should Keep a Track Of
Now that you know what is brand health and why it is important, here are a few brand health metrics that you need to take care of.
1. Brand Awareness
When it comes to marketing, brand awareness is a fundamental metric that should never be overlooked. Marketers can track their progress by conducting surveys or extrapolating engagement information from social media platforms.
The best way for them to get started on this journey toward growing their own value as an organization starts with assessing how easily recognizable they are within consumers’ mindsets and determining if there’s room left under those perceptions (or not).
Brand Awareness has been shown time after again as being one of the most important factors when deciding who will thrive in today’s marketplace so don’t leave yours behind!
2. Brand Consideration
Brand consideration is a great metric of brand health, as it measures how popular you are in comparison to generic or competing brands. You can get this information through surveys and by paying close attention to market share following branded campaigns–marketing that helps your company stand out from competitors!
3. Brand Association
This metric is a ranking of how closely your customer base associates you with certain brands. This mapping can help identify competitors and potential partnerships because it outlines who their “brand neighbours” are – meaning that this data could be used in targeting new customers or pairing up with existing ones for cross-marketing opportunities!
4. Customer Satisfaction
The customer satisfaction survey is a great way to measure how your customers feel about their experience with you. If they aren’t satisfied, then it’s likely that future purchases won’t be either and may speak negatively of the brand as well!
5. Brand Perception
Your brand perception is the first impression your customers have of you. It’s important because it helps them decide if they want to buy from your brand or not.
There are many ways for people in general communities that allow online surveys like Google Consumer Experience (GCE) which provides data on companies’ behaviours based on these opinions as well feedback collected via smartphone applications available at both iTunes store and Playstore corners respectively.
6. Brand Salience
When it comes to building a brand, you need the right tools for measuring your success. Brand salience helps determine if customers will remember and favourable opinion of what makes your brand different from others.
For example, A quick-service restaurant could ask people in their target audience which restaurants popped into mind when they thought “quick service.” If this was one that consistently came up on lists near or at the top (based on responses), then it is likely pleased with how well it’s doing thus far.
7. Brand Loyalty
Brands have always known that there is something special about loyalty. It’s the reason why many companies strive to maintain their customer base, and it can be assessed through methods like brand health surveys or repurchase data.
8. Brand Sentiment
With the help of sentiment analysis, marketers can identify how their campaign is shaping overall perceptions for a brand. This information could be tied to ROI as customers who like and trust your company are more likely than ever before in recent history (or perhaps any) to purchase from you regularly on an ongoing basis!
9. Net Promoter Score
When it comes to determining a customer’s likelihood of recommending your brand, the Net Promoter Score (NPS) is often used. This metric helps you see whether or not they’re advocates for what yours has going on and how well-loved/known an organization might be in its niche market segmentation terms–whether people would tell others if these were available or good to use.
10. Brand Equity
Your brand equity is a measure of how much your company overall means to you, both socially and financially. By generating awareness for the things that matter most in life through promises delivered on time with great quality control over what speaks volumes about who we really want our audience to be – this will increase values which then leads us up towards having even higher metrics than before!
Branding is a strategic process that takes time and effort to develop. If you are looking for the benefits of branding without putting in all this hard work, metrics can help provide an estimate on how successful your strategy was by providing some basic information about its impacts such as traffic or revenue numbers.
It’s important not only to understand what these numbers mean but also to use them efficiently because if Brand Analytics doesn’t give us enough data then there may be other ways where brands aren’t maximizing value from their brand strategies. So, always take care of your brand metrics and keep monitoring them to make sure your brand is healthy and well-functioning.
FAQ
What are brand health metrics?
Brand health metrics are metrics that help you track the performance of your company.
What are examples of brand metrics?
Net Promoter Score, Purchase Intent, Unprompted Brand Recall, Prompted Brand Recall, Brand Uplift, and Share of Voice are some of the examples of brand metrics.
How do you measure brand metrics?
Website Traffic, Brand Awareness, Search volume, and Social Media Engagement are metrics you can track to measure brand metrics.
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 Bounce.
In a country like India, where traffic lights are more often a popping red than a sober green, and where there is more honking than the sound of the breeze, Bounce had come up with one of the coolest ideas of making your daily commute a little less hectic and convenient.
Bounce is one of the modern ventures that rents out scooters to anyone who:
Carries a License and
a cell phone.
This might seem obvious, but what is so exciting about Bounce? Well, read on to know more about the company, how does it work, what is renting scooters and why should we consider it, and more.
December 3, 2021 – Bounce launches its first e-scooter, Bounce Infinity E1 with replaceable batteries available for lease.
October 7, 2021 – Bounce is all set to acquire 22 Motors in a cash and stock deal, which will likely range between $7-10 mn. With this Bounce looks forward to entering the electric scooter industry.
About Bounce and How It Works
All you need to start with the Bounce services is a mobile phone, because where else would you receive an OTP? An OTP would ensure the team at Bounce that you want to rent one of their scooters and hop on your way. Another interesting service that Bounce provides is the helmet. Carrying that heavy helmet all the way to your grocery store or office is simply a nightmare. Therefore, Bounce provides helmets for the safety of its customers.
If you wish to visit a nearby park, or to a movie at the theatre nearby, and worry too much whether you would get your luck in the parking slot or whether there is enough fuel in your car, Bounce it onto the BOUNCE Scooters around. Bounce does not charge extra for fuel, yes, you heard it right. The payment is upon the distance and time traveled. Fares range begin at ₹ 5/KM & ₹ 0.5/Min.
After completing your ride and reaching your destination you just need to end the trip on the application and keep the scooter in a Bounce Zone, which is available in different corners of the city. You may also opt for the Pick and Drop option on Bounce.
Bounce – Founders and Team
Bounce was founded by Anil G, Varun Agni, Vivekananda Hallekere.
Varun Agni, Anil G and Vvekananda Hallekere, Founders of Bounce (from left to right)
Varun Agni
Varun Agni is known as the Co-founder & Head of Products and Technology at Bounce. Varun Agni studied at the University of Maryland from where he obtained a Master’s degree in Telecommunication after completing his Bachelor’s degree in Engineering from the RV College of Engineering, Bangalore.
Anil G
Anil G is the Co-founder and COO at Bounce. He has spent a significant amount of time (nearly 4 years 4 months), with Bharat Electronics, where he was later promoted to the position of Assistant Manager – Account and Finance. Anil G then became the Finance Head of American Tower after which he co-founded Bounce in 2014.
Vivekananda Hallekere
Vivekananda Hallekere is the Co-founder and CEO of Bounce. He is a Chartered Accountant from the Institute of Chartered Accountants of India, a degree which he obtained after getting his Bcom. He has previously worked as an Audit Assistant with Badari Madhusudhan & Srinivasan, Chartered Accountants. After working a little over 3 years at the previous firm, Hallekere joined BSR & Co. and then went to Suchindra and Vivekananda, where he has served as an Executive and a Partner respectively, before founding Bounce.
Though Bounce is the name that we know the scooter rental platform by, Bounce wasn’t named thus, nor it was Metro Bikes that was the name of the company. The founding trio founded Wicked Ride as a premium bike rental platform, which later became the parent company of Bounce.
The idea to found Wicked Ride came from a situation when Anil ordered a Royal Enfield and had to wait around 12 months to get the same delivered. This made the founders wonder about the purchase of bikes and the delay that the customers have to experience whenever they go for a high-end bike. They then thought that a premium bike like Hayabusa, Harley Davidson, and the rest cost so much and are even delivered so late that it is better to rent a bike than to buy one.
Eventually, the team started to offer daily commute bikes under the label, “Metro Bikes”, which was later remained to be Bounce, after a beta stage in September 2018.
Bounce – Mission and Vision
“If I was to talk about a vision, I believe we can do over one million rides in a day. If there is any category in mobility that can achieve that kind of scale in India, it is scooters,” says Vivek.
Bounce – Name, Tagline and Logo
The tagline of the company goes as:
“Pickup and drop in all legal parking areas. Bounce anywhere, anytime. Your scooter, Everywhere.”
The Bounce logo is in red and white, which are what can be referred to as the brand colours.
Bounce Logo
Why should you Consider Renting scooters?
Well here are some of the advantages that you can have if you rent a scooter instead of buying a car or a bike:
Saves your pocket: It weighs heavily on your pocket when you consider paying an EMI every month for your new 2 wheeler or 4 wheeler. Imagine having to pay EMIs for your house, laptop, air condition, latest microwave, dishwasher, washing machine, and more. Yes, the generation today is of the opinion that they simply need these things for survival. However, these monthly payments definitely take a toll on the finances at the end of the month. Higher so if you have to repay your education loan. So, where would you hope to save your money? Is buying a new car or a bike the best option now? Can it wait? If your answer is No to the first and a Yes to the latter, you should definitely try your hands on the rental service that Bounce provides.
Parking your cars can be a real headache: If you live in a metropolitan city like Bangalore, Mumbai, Delhi, Chennai, or Kolkata, you would soon realize there are more than 15 lakhs of vehicles on the road on a single day. So, where would you park your own vehicle and how much would the parking tickets cost per hour? For cities like Bangalore and Mumbai, the parking tickets range up to Rs 50-70/hour. The parking areas except in the malls, which are recently planned and developed, do not suffice more than 100-150 vehicles. Therefore, sometimes it could be a real dilemma to have the perfect spot to park. With Bounce, you do not need to worry about parking. You may complete your ride and keep it in a safe Bounce zone so that someone else can hop into the scooter that you rode minutes ago.
Environment-friendly: Have you read the concept about mass transit and re-use? Well, the developers at Bounce, aims to Reuse and Recycle the transport system so that with the limited number of vehicles more people can use it in turns. With fewer vehicles that radiate carbon dioxide, sulfur dioxide, and nitrous dioxide in the environment, having a rented scooter that helps you travel and emits less smoke, thereby causing less harm to the environment, is definitely a WIN-WIN! The United Nations and WHO also stress a lot on the deterioration of physical health due to the harmful smoke being emitted from the vehicles. With a reduction in the frequency that you use your scooters, it will also significantly cut costs and save the time that you might otherwise spend in the washing and servicing of your vehicles each month. Therefore, you would be doing a favor to your body and mind.
Safety factor: Whether you are a woman or a man, traveling with an unknown person might seem scary on a cab. We all know about the different challenges that occur in the daily lives of workers who return late, especially for women. If you know how to use a scooter, Bounce may be the best option to ensure safety. You can ride anytime anywhere without having to rely on another person.
Bounce – Business and Revenue Model
Bounce is a 2 wheeler rental platform based out of Bengaluru, India. It is currently the most affordable bike-rental platform that charges Rs 5 per kilometer and Rs 0.5 per minute. This definitely makes it really cost-effective as a commute option. When considered, Bounce’s rates are even lesser than that of an autorickshaw.
According to the pricing model of the company, the cost of petrol is estimated at Rs 1.75 – Rs 2 per km and that of the maintenance can be summed up at Rs 1.5 per km. This then becomes over Rs 4 per km. Therefore, if any other company charges anything above Rs 4, then that turns into profit for them.
However, the team is looking to further reduce their cost by the electric scooters, the first of which was Bounce Infinity E1, which was rolled out on December 2, 2021. The E1 models of the Infinity range of scooters come with replaceable batteries and will be available for lease soon. These scooters will significantly contribute to maximizing the profits of Bounce, pulling down the overall price to Rs 0.5 per km. This shall make them simply put a charge of Rs 3 per kilometer and will still allow Bounce to make money out of it.
Bounce – Growth
Bounce:growth highlights are:
It has traveled 180 million km as of March 2024
It has traveled 32 million rides as of March 2024
It has traveled 30 million EV rides km as of March 2024
It has traveled 5.1 million EV rides as of March 2024
It has saved 1,250 metric tonnes of CO2 as of March 2024
5,365,929 accounts have been signed up as of March 2024
It has clocked 2.1 crore+ km in 6 months as of March 2024
The company has swapped 10 lakh+ batteries across 200+ stations as of March 2024
Financials
Bounce Financials
Bounce Financials
FY22
FY23
Operating Revenue
Rs 15 crore
Rs 91 crore
Total Expenses
Rs 277 crore
Rs 297 crore
Profit/Loss
Loss of Rs 243 crore
Loss of Rs 197 crore
EBITDA
EBITDA Margin
FY22
FY23
Expense/₹ of Op Revenue
-524%
-142%
ROCE
Rs 18.47
Rs 3.26
Profit/Loss
-60%
-82%
Bounce – Startup Challenges
“The true fundamental mobility is only accessible to a privileged few”, says Bounce founder Vivekananda, and “Bounce is trying to change that in a significant way”, added he, which is quite challenging to be sure.
Bounce – Funding and Investors
Bounce has raised around $214.2 mn over 9 funding rounds till date.
There are currently 7 lead investors backing Bounce.
Bounce – Future Plans
The future plans of Bounce are associated with bringing the company’s financials towards profit, increasing the revenues, and spreading its areas of operation. The company launched its first electric scooter Infinity E1, which is expected to help the company improve its revenues because it brings swappable batteries to the market. These swappable batteries have brought down the market cost of the Bounce scooter by around Rs 36,000.
Conclusion
Bounce is a dock-less two-wheeler ride-sharing solution, on a mission to make daily commute reliable, affordable, and convenient in India. If you are willing to travel with your friends or just commute to your workplace every day with the most economical rates (ride fares as low as ₹5/km + ₹0.5/min), try and grab the scooters and pave your own way. Also, it’s fun to enjoy life by doing everything you want on a low budget, after all, saving goes a long way.
Bounce – FAQs
What is Bounce?
Bounce is a 2-wheeler lending platform aiming to redefine daily commute with its smart, affordable, and effective mobility solution founded in 2014 in Bengaluru.
Who are the founders or owners of Bounce?
Bounce has been founded by the trio – Vivekananda Hallekere, Anil G, and Varun Agni.
How does Bounce app work?
If you are planning to book a ride via Bounce, you first need to help the app detect your location with the help of the location services of your mobile devices. You will then be having a scooter/bike booked by the app. You will then be able to use the scooter to drive to your destination. After you complete your ride, you can simply end your trip and make the payment.
The rate of growth in the world right now is at probably the topmost pace. The fuel for this growth is simply the technology sector behind every organisation. Lines and walls between companies are getting more and more transparent. Every company and entity is becoming a technological entity. All these utilities of technology have induced certain dependence in the world. That utility is worthwhile too, too much of an extent.
Technology, in a nutshell, has made our surroundings more convenient than ever before. We see transactions are getting easier and easier. We see that the entertainment sector is at an all-time high, in terms of revenue generation and visibility. We see that technology has invaded our homes and hands, the utilities it provides are endless.
All the utilities that the technology provides, make it a lucrative port for every other activity. Paying someone has become easier, and in fact, the transactions have become easier. Digital cryptocurrency is the new buzzword around the world corridors.
Most people support this trend of bitcoin and other crypto asset classes. India recently announced the commencement of a digital currency. The digital rupee is a new term for every Indian and this is a move that no one has ever imagined. There is a lot of hype among people about this but most people don’t know what it will be like. In this article, we will discuss what is a digital currency and how will it be different from the UPI method or unified payments method.
A digital payment mechanism is a tunnel through which payments can travel digitally. For instance, UPI is a digital payments mechanism. A Unified Payment Interface is a method by which people can transfer funds digitally and directly from the bank to another bank account.
The sole purpose of the digital setup of payments is the ease and convenience which it provides. The craze of digital payments grew so much in a very small time that it shifted to more serious business.
A Small Brief About Digital Currency
When digital payments are so easy and convenient, then why not all shift to digital payment methods? Moreover, why not make a digital currency? Nowadays, crypto is a popular buzzword. Let us see what digital currency means and what crypto is.
The world of cryptocurrency and digital assets. A cryptocurrency or just crypto is a digital currency that is designed and formulated to act as a medium of exchange. The whole system is decentralised, in fact, decentralisation is the core concept on which the world of crypto is being built.
Transactions happen through computers and computer networks. All the computer networks are not controlled by anyone’s authority, this by definition is known as decentralisation. There is no bank intermediary, a government or anyone else to maintain or uphold it.
A digital currency, as the name suggests, is a sort of digital money or electronic money is a sort of currency. It is money like an asset class that is primarily stored in a digital source or a computer. It is also stored and transmitted over the internet. It involves a lot of other asset classes. Types of digital currency include a lot more than just some of the asset classes.
Digital currency includes all sorts of cryptocurrency, virtual currency and all the currency which is accepted by digital currency. Except for the cryptocurrency, other asset classes may be recorded in a database that is centralised. A centralised database here means the database which is upheld by some central authority or a government figure.
This currency can be used to buy goods and services that exist in the real world. It can also however be used to buy things online, like something in an online game. Apart from being digital, digital currencies exhibit all the traits of a traditional currency. It doesn’t just have a physical form.
The fact that they are not physical in nature implies that they can be held by anyone with a computer device. This feature of digital money removes the cost of circulating physical money in the market. Transactions can happen seamlessly over the internet without any issues of lower denomination of notes.
A digital currency is usually not issued by a government body and thus, these are not considered as legal tender in many countries except El Salvador. Digital currency can be owned by anyone, even outside the borders of a country. These features also make the government not accept it as a legal tender.
Depending on the situation and characteristics of the digital currency, it can be centralised and decentralised. Centralised means some organisation that is operated under the rules of a central body. Decentralised is an organisation that has no central body and no one person or entity can control it wholly. Centralised institutes include banks and the stock market. Cryptocurrency like Bitcoin is decentralised.
This is the new word that, after its inception, became a buzzword of the month. Nirmala Sitaraman made the announcement mentioning the word digital rupee in her speech. She introduced that the government will soon unveil a digital rupee that will have all the support from the RBI or Reserve Bank of India.
Among all the crypto hype, this digital rupee will be a welcoming move by the Government of India to the world. It is said to be launched in the next financial year. It will be a central bank currency in the digital format.
Another word for it can be, CBDC, which is a central bank digital currency. This currency will be valid in India and will be accepted and transacted in the whole of the country. Let us see what more we heard about this new head of currency.
Digital rupee to be issued using blockchain and other technologies; to be issued by RBI starting 2022-23. This will give a big boost to the economy: FM Nirmala Sitharaman#Budget2022pic.twitter.com/tUdj2DoZCR
Indians were surprised at the time when our finance minister made an uncommon statement. This proposal of a digital rupee had many people in surprise.
Vipin Kumar, CEO TechnoloaderPvt. Ltd said launching a digital rupee using blockchain will not be an arduous task for the government.
“People in India are already amicable with the concept of digital transactions or payments in the form of UPI ID and barcode. Presently a great many people are doing digital transactions in their way of living. If the government is planning to launch a digital rupee using blockchain; accepting it also will not be an arduous task. Government has to refurbish technical aspects. Only mobile applications desire to update and UPI id entail replacement with Wallet address as blockchain works on wallets addresses,” said Vipin Kumar.
There were immediate questions about how the digital rupee would operate. What will be its use cases and how we will be able to transact in digital rupee. How different it will be from the UPI payments that we make on a daily basis.
Digital money, built from blockchain technology will be transferred from one digital wallet to another like other cryptos assets. “One will have to punch in the wallet address of the recipient to transfer the money. It would be as good as today’s UPI transactions where the value of money is transferred from one’s wallet or bank account to another,” Kunal Jagdale, Founder, BitsAir Exchange
“As the usage of the Digital Rupee increases, it could also benefit things like cross-border remittances, an environment could be created for interoperability whereby faster real-time remittance occurs,” said Kunal Jagdale.
The Digital rupee which the government will unveil in the next financial year will be seamless and real-time. The transactions will be made through a digital currency tunnel.
Transactions will be real-time and every Indian can send their money to another person, even overseas and across borders. There will be no need for any central authority. This means that the transactions will happen at an instant and will be needing no intermediary in between transacting bodies.
Even though digital currency will not be available in the physical form, it will be acceptable. Digital currency will be as acceptable as cash and will be a legal tender in any sort of transaction. Payments made through CBDCs (Central Bank Digital Currency) will also reduce settlement risks and the demand for interbank settlements.
Finance minister Nirmala Sitaraman has also mentioned that the country will launch a digital version of the rupee as early as this year. It will be usable from the next financial year itself.
Apart from the announcement of a digital currency, the finance minister in her budget speech also mentioned that any trading gains or transfer gains of cryptos will be taxed. This means every gain from any crypto transaction or NFT (Non-fungible tokens) sales proceeds will be taxed 30 percent. All these gains will fall into the top class tax bracket in India.
The primary two motives behind launching a digital currency are simple. First, the digital currency will give a jump to the digital economy. Secondly, the digital currency will be cheaper for the government than producing physical currency notes. This way the government is trying to kill two birds with one stone.
Ms Sitharaman also said the magnitude and frequency of digital asset transactions “have made it imperative to provide for a specific tax regime”, where profits from transactions are taxed. Taxes of this sort will also be levied on any transaction of digital assets, which means that they will also be levied when someone gifts this asset to another. In this case, the receiver will be the liable person.
In 2016, Prime Minister Narendra Modi withdrew the currency notes of 500 and 1000 rupee from the financial system. Within very short notice, notes of this denomination got terminated as a legal tender and the economy was pushed to a digital world.
The Indian payments landscape changed forever, after demonetisation. Companies like Paytm, which works in the digital payments sector got an immense boost from this government direction. On the other hand, India’s neighbour China was also involved in some digital currency work. The United Kingdom also saw some potential at the time in digital currency.
Sumit Gupta, co-founder and chief executive of India-based cryptocurrency exchange CoinDCX, told the BBC that the initiative “has given legitimacy to virtual digital assets”. Sumit thinks that taxing digital assets would be good for the market but believes the rate is too high.
“A tax rate of 30% is on par with that imposed on gains from speculative activities like the lottery, gambling and other gaming activities. That proposed 30% might act as a dampener for greater adoption,” he said.
Among all the hype of a new digital currency, the ongoing digital crypto is seen as a new digital asset. The new digital currency will be a new thing by the RBI. However, with all the technological shields that we stand with today, the digital rupee has high hopes from citizens.
According to the Reserve Bank of India and the finance minister, the currency will be seamlessly transferred and will be easy for the government to take charge and control. This is a win-win for everyone. More details about the platform and transactions will be officially out soon from the RBI. However, with the announcement of a digital currency, cryptocurrency is seen as an accepted currency.
With all the speculations from the public and the unclearness of the new digital currency, many people are connecting the digital currency with that of UPI. Unified payments interface is a very famous transacting mechanism in India. It is, however, said to differ from the digital currency or the digital rupee which the government is planning to push into Indian markets. Before we get to the differences it is good to know some basic information about the UPI and how the unified payment interface works.
There is little possibility that you haven’t heard of UPI in today’s world. It is almost everywhere in every marketplace. It is easy, convenient, seamless and real-time. As the name suggests, a unified payment interface is a payment pathway in which a person can transact money via digital means. People can add multiple bank accounts to their UPI apps which are available in the market today and can start transacting. It is a real-time payment system for money transfers and the settlement is done in both the receiver’s and the sender’s bank account.
The UPI is developed by the National Payments Corporation of India or NPCI. This digital payment mechanism is regulated by the Reserve Bank of India. UPI can be used every day of the week and every month of the year, it is universal in nature.
All it needs is a bank account and an internet connection. However it is noted that there is no digital currency involved, it is simple to transfer bank funds from one person to the other. A UPI transaction can be initiated and accepted both by a person, any individual and also any business out there in the country.
The Unified Payments system is secure by all means and uses some of the same pathways as digital currency transactions. The unified payments system has a data log of VPA ids, which is a unique ID that is given to every individual who is getting into the UPI transactions.
This VPA ID or the Virtual Payment Address is the address where the payment has to be made. It is simply the bank account that is linked with the Virtual Payment ID to which or from which the payment is initiated. It can be made by a bank name or the person can choose one himself or herself as opposed to in digital currency transactions.
Most of the time, the email address or the mobile number of the person is made their VPA address. VPA is something that directs the payment/transaction path. Transfers can be inter-bank and they can also be intra-bank. A mobile number also works seamlessly in the UPI payment system, if it is attached/linked with the bank account of the sender or receiver.
Most UPI apps have no holding capacity. They are not wallets, except a few like Paytm. Most UPI apps like Google Pay does not offer wallet services. Companies like Paytm do that. It is however to be noted that UPI does not hold any money in between. Wallet services are the sole services of the payment pathways companies like Paytm.
UPI works simply by settling payments from one bank and the other. It works on request by the transferee and then works towards settling the money settlement among participating banks of persons involved. A sender can initiate a transfer using a two-step secure process: you have to login to a UPI app – then you have to type the VPA id or scan a QR code – then you can send money by entering your UPI Pin that is personal to you.
The payment hits instantly and in real-time. This means, by the time you get the notification of money sent, another person will get the notification of money received.
After a brief discussion, it is time to see how both the payments are different. The digital currency which the government will release next year and the Unified payments interface that we use even today. What are the most noticeable differences and what are the most significant upgrades over the UPI payments mechanism? Let us see the key differences between the digital rupee and the UPI payments.
How Digital Rupee Will Be Different From UPI Transactions?
UPI is our day to day useful item. We use it even multiple times a day. It is handy, easy and convenient. It works seamlessly everywhere and has almost negligible issues. But how it is different from the digital rupee that the finance minister just announced in India. This is a valid question. Let us see what will be the key differences between a digital rupee and the UPI apps and payment mechanisms
The first difference is that the Digital rupee will be a standalone payment mode. As opposed to the UPI which is a payment processing tunnel. If we use UPI methods, they all don’t act like the underlying asset in transactions, instead, they are the ones who will be processing the money in your bank account. In this case, your money in the bank is the underlying asset that will enter the transaction. In the case of a digital rupee, it will itself be the underlying asset that will enter the transaction.
“The payment rails like UPI, IMPS etc use the underlying currency/cash to transfer the funds. In other cases, it is expected that payment rails will work together with the digital rupee to ensure a seamless payment transaction,” said Mihir Gandhi, Partner & Payments Transformation Leader, PwC India.
Any payment that is made through the Unified payment interface, will be equivalent to the transfer of currency notes. As there are banks, the government and all the proper authorities at work, who allows the transaction. This means that every amount which is transacted by the UPI method is backed and supported by a physical currency transaction. Which makes the process of transaction impossible to jump through. In the case of the digital rupee, this will be even more efficient and effective.
“The digital rupee will be legal tender in and of itself and need not necessarily be backed up by physical currency,” said Sumit Gwalani, Co-Founder, Neobank Fi.
Another difference is the fact that UPI transactions are involved between participating banks and they have their own UPI handlers. In the case of the digital rupee, the digital currency will be equal to the physical currency. It will be operated by the Reserve Bank Of India and no commercial bank will enter the process.
They will be informed but the central figure of RBI will always recognise the transactions happening in the digital rupee. This will add more accountability to any sort of transaction.
The digital rupee is no different from your normal rupee; it can be used to do normal transactions like NEFT, UPI. The digital rupee will be operated by RBI and not by bank intermediaries in the case of UPI where each bank has a different UPI handler, said Manoj Dalmia, Founder and Director, Proassets Exchange
The digital rupee will eliminate settlements in commercial banks. It will be directed directly by the Reserve Bank India and thus, will be instant and seamless. Record keeping will also become easier.
UPI payments currently rely on the settlement of the transacting banks with the RBI, Digital Ruppe will be transacting directly from RBI, hence it will be settled instantly, said Vinshu Gupta, Founder and Director, Nonceblox Blockchain Studio.
It is evident from the above discussion that the digital rupee is definitely an upgrade over the Unified payments interface. It will add more accountability to the system of transactions. It will be more seamless and as real-time as possible.
These transactions will also be introduced in the market without incurring a lot of costs, as the digital rupee will be made at less cost than physical notes. These are the most noticeable benefits and there will be more benefits when it comes to the market. The government is welcoming the digital change of currency as it is more efficient.
UPI payments have been the most convenient money transacting mechanism that we have seen today. As the world becomes more and more tech-savvy, people are rethinking ideas of money and transactions. Which has led to the development of digital transactions and even currency that has no physical nature of existence. We now live in a world of numbers.
In the seven budget, the Indian Finance minister announced that the government will be launching a digital rupee. Many people are considering this as a welcoming move toward the cryptocurrency hype in the rest of the world. Others are just wondering if it will be a good decision.
It can be seen from the above discussions that the digital rupee is definitely an upgrade over the Unified payments interface payment tunnel. As transactions will be recorded and regulated by the Reserve Bank of India, It will add more accountability to transacting parties. The digital rupee will be more seamless and as real-time as UPI.
These transactions will also be introduced in the market without incurring a lot of new costs. The digital rupee will be circulated in public at a lesser cost than is needed to circulate physical notes. It is a move that simply implies that the government wants better governance over the money transactions happening in the country. It is imperative, as we are a really populous country and the digital rupee can be the perfect money.
FAQ
Which is the first digital currency?
Bitcoin is one of the first and most popular digital currencies.
What is digital or virtual currency?
A digital currency is a digital representation of currency that is stored in an electronic form that can be mobile or computer. It can be centralized or decentralized.
Is Bitcoin legal in India?
There are no regulations on crypto nor the Bitcoin is banned in India.
You may have heard about offshore mutual funds before but haven’t known how to start investing in them. Luckily, it’s easier than you might think to begin benefiting from these investment opportunities, especially if you know everything you need to know before jumping in with both feet. This article explains the basics of offshore mutual funds to help you decide whether or not they’re right for your investment portfolio.
Are Offshore Mutual Funds Good?
When it comes to offshore mutual funds, there are many reasons why you might want or need to invest outside of your home country. However, there are also plenty of reasons why you should avoid them. We will tell you everything you need to know before investing in offshore mutual funds so that you can make an informed decision.
Let’s start with a definition:
Offshore mutual funds are investment vehicles based in countries other than where you live. These types of investments tend to offer higher yields than domestic funds and can be a great way for investors to diversify their portfolios and reduce risk by spreading their assets across multiple countries (and currencies).
Before you consider offshore investments, here is what you need to know about them first:
Regulation:
Not all countries have created regulations for offshore mutual funds. Some countries don’t even have laws that require funds to disclose their holdings or distribute financial statements. This lack of regulation means that investors are taking on a greater level of risk when they invest in these types of funds. If something goes wrong with your investment and there are no laws requiring transparency from your fund manager, you may not be able to recover any lost money.
Taxes:
When you invest in an offshore mutual fund, your investment may be subject to taxes both at home and abroad. For example, if you live in Canada but choose to invest in an American-based offshore mutual fund, both Canadian and American taxes will likely apply.
Currency Risk:
When you buy shares of an offshore mutual fund outside of your home country, those shares will likely trade in a different currency than what you use at home. This means that if you need to cash out or sell any of your investments, there is a chance that you could lose money due to exchange rate fluctuations.
Transparency:
Many countries do not have laws requiring transparency from offshore funds, so it can be difficult for investors to get accurate information about their holdings and performance. Often, these funds are not required to disclose their holdings or distribute financial statements, so investors are left with no way of knowing whether they are making good decisions with their money.
Keep It Simple:
It can be tempting to invest in multiple mutual funds if you’re just starting out. However, once you start adding multiple investment portfolios, it can become difficult to know how each one is doing and how they’re tracking against your financial goals. With so many options available, it’s much easier to overcomplicate things rather than stick with a simpler strategy that delivers results.
The increasing digitization is changing the dynamics of the world. People’s opinions, ideas, perceptions are all influenced by the digital world now.
Here comes the role of the new-age celebrities, the influencers. Earlier only big celebrities, sportspersons were approached for promotions and advertisements to create an influence over the audience.
Now it is changing. Thanks to Instagram which has become a breeding place for new talent. People are making such amazing content in their genres that they have now acquired themselves the status of influencers.
These people have earned people’s trust, respect and have gained a huge fan following over social media. People like Whindersson, Nusret, and more are now leading Instagram influencers without having an earlier celebrity background.
Since the past seven-eight years, the influencer industry has seen massive growth like no other. The bloggers, vloggers who started their journey by merely sharing their lives online are now creating a huge impact on the people and are ruling the world.
These people are digital stars who started following their passion, spotted opportunities, and decided to make their careers around it. With time, they began to catch the eyes of a large audience and also big brands.
This helped them become a trusted influence over the people. These are the stars who appear relatable to regular people. They not only act and make content but also interact a lot with their audiences.
Nowadays, influencers have gained such a huge place in people’s lives that it has now become a booming industry. They have become the number one choice for big and small brands as they own the power like no other, their massive audience.
Be it fashion, baking, eating, comedy, beauty, makeup, and more, we have got influencers in every field. With consistency, they have become experts in their fields. People have started to look up to them not only as an influencer but someone relatable from whom they can learn as well.
Top Instagram Influencers in the World Today
The world has started to create a place for another industry in it. This is the industry that belongs to our very own digital stars. There are many celebrities, big brands who have a huge following over Instagram. But there are people who earned a celebrity-like status on this platform and made themselves a brand.
Here are the top influencers who are now ruling people’s hearts all-around:
Whindersson Nunes
Instagram Followers: 57.3M
He is a comedian, singer, YouTuber, and Instagram influencer. He was born in Brazil in 1995. He is super popular for his amusing comedy.
Nunes is a digital star who earned his huge followers base through social media. He is a quirky and fun-loving influencer who has a following of 57.3M on Instagram.
Huda Kattan
Instagram Followers: 49.9M
This is the name that is super popular among women all around the world. She was born in Oklahoma, the USA in 1983. She is a blogger and makeup artist, famous for her being the founder of Huda Beauty, a cosmetic brand.
Her love and passion for beauty and makeup were loved by the audience. This self-made beauty influencer is a great role- model for many young women. She has the following base of 49.9M on her official account. She also possesses a following of 2.4M on her personal account and 6.8M on hudabeautyshop.
Lele Pons
Instagram Followers: 47.4M
This social media celebrity is an internet sensation, a singer, podcaster, and actress. She was born in 1996 and is a native of Venezuela. Her journey towards popularity from being a Viner and since then there was no stopping.
After that, she started making comedy videos for which she gained a massive audience. This young woman is now a prime choice for promotions and collaborations of top brands. Her current Instagram fan following stands at 47.4M.
Nusret Gokce aka Salt Bae
Instagram Followers: 42.5M
He is a chef, butcher, food entertainer, and internet celebrity. He hails from Turkey and was born in the year 1983. The chef became famous for his unique cooking videos.
Nusret became super popular because of his quirky style of salt seasoning. His style was so influential that it instantly became a viral meme all-around the world. This self-made influencer has 42.5M followers on his Instagram.
Chiara Ferragni
Instagram Followers: 26.3M
She is a fashion blogger from Italy, born in the year 1987. This woman started her journey from blogging and is now a model, designer, and entrepreneur.
Chiara has collaborated with many big brands and is considered one of the leading fashion influencers in the world. She has 26.3M followers on her Instagram.
Zach King
Instagram Followers: 24.5M
Another person who has made his entire personality over the internet is Zach. He is an influencer, illusionist, and filmmaker. He was born in 1990 in Oregon, USA. He has been making and posting videos since his high school days.
King is famous for his exclusively created digital magic videos. With a great amount of influence over social media, this man is a top priority for many brands. He has 24.5M followers on his Instagram handle.
Another great influencer is this internet personality who is now a model and actress too. She is Pennsylvanian born in the year 1991. Amanda is famous for her comic and music videos and vlogs.
This social media influencer is also a UN Ambassador. She has also acted in many movies like Airplane Mode, 211, and more. Cerny has 24.1M followers on her Insta handle.
PewDiePie
Instagram Followers: 21.9M
He is a popular gaming influencer and YouTuber. He was born in Gothenburg, Sweden in the year 1989. His content includes gaming and comedy videos which are as interesting as his quirky internet name.
His original name is Felix Arvid Ulf Kjellberg. Over the years, he has become a great internet personality by earning a huge fan following on various platforms. This gaming influencer has 21.9M followers on his Insta handle.
Conclusion
From academics, fashion, cooking, beauty, businesses, and others, everything is going online. The rising dependency and interest in social media are also playing a great role in making things go online.
Nowadays platforms like Instagram have become a professional source of earning for many. This gave rise to the concept of the influencers industry. Influencers are now present in every corner of the world. The above-mentioned are some of the top Instagram influencers in the world today. Apart from these, there are many more who are great influencers like Dan Bilzerian, Cameron Dallas, etc.
FAQs
Who are the top Instagram Influencers?
Some of the Top Instagram Influencers in the World are:
Whindersson Nunes
Huda Kattan
Lele Pons
Nusret Gokce aka Salt Bae
Chiara Ferragni
Zach King
Amanda Cerny
PewDiePie
How much do Instagram influencers get paid?
Influencers with a million followers can earn somewhere around $670 per post, the search marketing website says.
Who are the top Instagram influencers in India?
Some of the top Instagram Influencers in India are:
Fashion is such a powerful word, it can change the world. If not change the world it can at least make some people rich. When it comes to fashion, the world follows the crowd. If some trend gets enough people hooked, then the trend has the chance of becoming a fashion trend. Which are longer and wider terms in magnitude and effects. There can be many sorts of fashion, each sort of fashion has the potential to influence a large number of people.
This trait of the fashion industry makes it one of the hottest industries out there. This is the reason fashion houses and fashion retails are always out there, innovating and figuring out something that will hopefully become a trend and a fashion statement. In the modern world, the apocalyptic 21st century, the internet and technology are the lead workers in almost every industry.
Fashion is also run by these workers’ hands. India’s topmost online fashion delivery partner Myntra is also doing the same. They are working on recommendation systems at a large scale. Like in-session intent, explore-exploit algorithms diversity, deep personalisation, identifying fashion trends, etc. This article talks about this topic at the heart. First, let us see how the world of fashion operates and how it is changing with the help of AI and big data.
Fashion, by definition, is anything that someone wears to make a style statement. The definition might look easy in theory but in practice, the word ‘fashion’ has a lot of potentials. This can take any shape and size, and this can make truckloads of money if it is directed in a good right direction.
The cycle of fashion mostly starts when people observe some influential person making a style statement. Then they look out for the same thing, to make the same style statement. Take the case of Luxottica. The famous luxury eyewear group enjoys a monopoly in the eyewear industry. It all started when the brand pulled in some actors and designers to promote luxury frames. This was an instant hit and the beginning of huge cash flows.
By now, you must have understood that the world of fashion is unique and full of potential. There are many sorts of fashion, they can be categorised into many categories. Then comes the more famous sort of fashion line, fast fashion. As the name suggests, it is fast in nature. It comes quickly and goes out of fashion quickly. Zara is probably the best example of fast-fashion retail.
The next and the newest form of fashion is all new. Fashion when mixed with data analytics becomes a whole new domain of work. When fashion is added with the benefits of data and technology, it becomes wider. The reach now covers much more area than before and so do the profits that occur. This is what fashion companies like Myntra are doing. Let us see Myntra’s data science and the work that goes behind the curtains/website.
Myntra – The Fashion Retail
Myntra is a popular name among fashion enthusiasts. By ‘fashion enthusiasts’ we mean quite everyone. Everyone wants to make a style statement and everyone wants to stand out. In this sort of environment, Myntra is a perfect destination for these people. It is a place that caters to a lot of demands in a single and simple setting. A single stop for all things fashion.
As the world grows and becomes more and more hyperconnected, and people want more personalised stuff, Myntra is changing its model too. It is not just a fashion company now, it is adding data and technology to its structure. With the aid of data technology, the brand can put itself as a more personalised fashion retail for its consumers. Which if done right, can lead to great success for the brand.
Right, now the fashion company deals in all sorts of fashion products. As time passes, it is also trying to enter the world of technology of personalisations. Personalisations like large scale recommendation systems can add a lot of brand value to the company. It is working in this direction with all its might, to get to a position where it is easy for consumers to get products that meet their personal demands.
Just like Netflix which used user data to give out personal recommendations for movies and series. In the next paragraph, we will read about the efforts that the company is trying to get deep into data technology.
How Myntra Uses Data Science to Provide Unparalleled Customer Experience?
If you say that Myntra is fashion retail, you are right but not entirely. Myntra is more of a data science company that works on data to provide personalisations to its customers. It is, in fact, one of the biggest and most successful data science teams in the country. The reason is that Myntra is hugely investing in its data science wing, to improve the overall experience.
The data science team is the reason, on which the company is making all its newfound progress. It is in fact the reason which even helps big service companies like Netflix to grow on customer experience. The majority of the features that the fashion company now provides are AB tested. These solutions that provide great personalisations were never possible in the past but they are now the nearest possibility. Thanks to data tech.
At the core of Myntra, the company wants to create an exceptional consumer interface that is so useful that people will become loyal to the brand. The data science team at the fashion retail has solutions for that goal problem. They want to create a unique model at every touchpoint where the user reaches for his/her needs. These models/differentiators will help increase the consumer experience and will generate the desired revenue for the retail.
The team delivers many data science solutions, which are deployed at various customer touch points every quarter. “The models create significant revenue and customer experience impact, alongside providing real-time, near-real-time, and offline solutions with varying latency requirements,” explained Hrishikesh Vidyadhar Ganu, head of data science at Myntra.
There are many domains in which the company is trying to enter with the help of technology aids. It is trying to work on large scale recommendations which will help find people that they are not even looking for. That is products that they might like. The same way as Netflix recommends shows. It is a result of data collection of users and making sense of the data. This makes the user predictable. Thus, the company servers can better predict what the user is going to like in future. This feat is achieved through algorithms, deep personalisation which can identify fashion trends and can suggest more relatable products.
Myntra also is looking forward to building a trying feature that can help in identifying the perfect fit for a customer. Say, a tryout feature. Just like Lenskart does on its website, you can go and try out the glasses with a virtual try-on feature. This feature, to virtually try anything that you like, online is an absolute game-changer. This, not just adds to the overall customer experience but also eases the work of choice for consumers. Myntra can do that too, they can add a virtual try out feature for clothing items or personal beauty essentials etceteras.
Fashion focussed companies like Myntra do a lot of work on their supply chain management. They try to optimise the flow of work in a manner that is the least resistive and most efficient. With help of user data and data technology, they can also leverage their large scale problems of shipping and utilisations.
“We also leverage computer vision extensively for cataloguing, inbound QC, garment measurements, etc.,” said Hrishikesh Ganu who is the director of data science at Myntra.
Another important thing for fashion retail is the pricing models. If the pricing is not right, it does not matter how good the impression the product makes, consumers will be turned off.
With data that Myntra collects and makes sense of, they can let the tech work for them. They can even optimise prices for different customers and give others some coupons that can act as a discount. An optimised pricing strategy will help get more traffic to the website and more conversions of users.
In a recent interview, the Myntra data science team mentioned that they are currently hiring for data science roles. The company has vacant places across many roles in the field of data science.
How Data Plays an Important Role in Improving Customer Experience at Myntra?
Myntra takes the data part very seriously. Data is DNA at the fashion retail. They know this thing that they will receive what they give. If they make sense of the data collected in a nice manner, they will go ahead in utilising and optimising the resources according to customer preferences. This can act as a great differentiator in many aspects.
With trial and error, Myntra has been able to make the walls of its data work strong. The engineering and data insights that they have gathered over the past is very useful in the future. They can use data science to evolve more in the future as they provide the best-personalised fashion to every customer. They will probably be one of the firsts to do something like this in the Indian fashion segment.
They continuously are involved in data scoring and structuring. Every algorithm that they decide on is AB tested with keeping real users in mind. The world of E-commerce revolves around being more and more consumer-centric. This is why companies like Myntra invest a lot of time and energy resources in this field. This enables them to get a better profit margin and a better market placement than the rest. Fashion retail has golden rules, that is, Once you get the experience right, you can get consumers’ hearts.
The story of data starts when users communicate with the website. They can be ordering something, returning something or just pondering/hovering over something.
All that data is collected and makes sense, in the form of patterns. These patterns make bigger patterns that are called user behaviour. Which tells how a person is going to act in front of a situation. This results in better predictability and better recommendations. So, it can be said that data is the source and fuel for the system at the same time. It enriches the algorithm with more useful information.
How is Myntra using Growth Hacking?
At Myntra, all the technology and fashion is directed in one direction. That one direction is simply to make the user journey as smooth as possible. It should be full of aids, but not too much and it should be easy to walk on. Noticing this simple goal, they recently launched something called ‘Growth hacking’.
Growth hacking is an initiative and an experiment with which Myntra is trying to capture hindrances that are faced by users. For example, users should be able to check out with a click and clicks for websites should be lowered. They are also looking to add and subtract a few traits in the post order stage.
All these little tweaks here and there will help cover the journey of the user in a smooth way. The result of which is more and improved conversion rates. Another consequence is that users have more retention and thus more revenue for the company.
These experiments like that of growth hacking Myntra is employing a method of AB testing. Since they have a large variety of products in almost every domain, it becomes imperative to make it easy for the user to make choices. The process goes like the easier the better.
In order to release the experiments at the growth hacking, they have to conduct A-B testing. It is a method by which a company tests its experiments with some people and gets their feedback. It was made sure that the experiments work well and that they don’t add any sort of hindrance to the user journey.
From the above discussions, it is evident that Myntra is planning a lot more investments in the data department. They know that this is useful in reaching new scales of growth. They are not wrong in this manner, everyone loves personalisations and attention to detail. With data-driven growth, there are a lot of utilities that can be achieved. Myntra is betting on this new-age tech of machine learning and data science.
As they develop each wing of the data plane, like data analytics, data science and machine learning in the platform, they want to make all these things go together. In a synchronised manner, these things will work better and more efficiently.
Myntra is investing a lot in machine learning models that work in real-time. The workings of which will help Myntra to get quick and real-time feedback from users. Another reason for developing the ML platform is that they can run data from models and execute them.
Myntra is a platform that runs at a level of whole India or PAN India. This means that they have a lot of consumers to cater to. They have to be right with data if they want to predict their users’ patterns. This is one of the main reasons why Myntra is trying to improve its data science wing. It will add more depth to the organisation and will help increase the consumer experience.
Myntra has a lot of checks and balances at every step before data ingestion into the warehouse, clean-up and processing. A better capability to tackle users will make for a delightful user experience.
This is why the data science department is running to work with in-depth data details and structures of user data. This will help the whole organisation regardless of the scale at which they operate. However, it might seem easy in theory to work towards personalisation technology but it’s not easy.
There has to be a whole infrastructure setup that can be built for analytics. Myntra has also taken some steps to improve the data handling at the company. Here we will discuss these processes and the progress that they have made.
First of all, Myntra starts the work even before data arrives at its shores. They try to track every piece of information that arrives at its doorstep. It can be any data or information from warehouses, process reports and stock placements. At every step, new data is laid out and Myntra keeps full track of these. Recording everything helps the company to catch any deviations that might have occurred in the process.
Now, to improve the metrics, it has to follow a repeated process. An iterated process. The continuity of the process is the key in this venture which helps to improve monitoring and catching of errors and deviations. If the process of data collection is even and continuous, they will catch omissions quickly which makes it efficient. For even for a minute deviation or non-success in their data trajectory, they have a solid alert in place and a testing framework to report.
Conclusion
Fashion is a powerful word. With enough potential to generate a lot of cash for the trailblazer. Fashion retail has some common golden rules. That is, Once you get the customer experience right, you can get to the consumer’s hearts. Once they get this thing right, they will be the market leader in fashion retail in India. This is all about brand loyalty and customer satisfaction.
Myntra is planning to go deeper into this segment which will allow them to better understand the market and its consumers. In the modern world, the apocalyptic 21st century, the internet and technology are the lead workers in almost every industry.
Fashion is the new world where tech is working and it has a lot of benefits. Myntra is also trying out and working on virtual trials of products on each consumer. The future and present of fashion are changing and so are the priorities of people.
FAQ
How does Myntra use big data?
Myntra tracks the user behaviour, if they are going to buy something or just surfing, what are they looking for and stores it which helps them to recommend the best-personalised fashion to every customer.
How does Myntra use machine learning?
Myntra analyses its customer data, social media and its fashion portals to find out what customers are exactly looking for.
How does Myntra use data analytics?
Myntra uses data to provide personalized recommendations to its users.
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 Xoxoday.
The Global Rewards and Recognition industry stands at around USD 300Bn. Of which, Xoxoday is targeting around 1% market share. Founded by Manoj Agarwal, Sumit Khandelwal, Abhishek Kumar, and Kushal Agarwal, Xoxoday enables real-time, digital global rewards which are linked to a client’s business KPIs. These rewards increase employee engagement, improve channel performance, enhance sales performance & more.
It is interesting to note that Xoxoday is currently growing at a rate of 100% YoY in terms of revenue. No wonder, its clientele includes some of the notable companies like Infosys, HCL, SAP SuccessFactors, Siemens and more.
StartupTalky interviewed the founding team of Xoxoday to know its Success Story. In this post, you will know all about Xoxoday Growth Story, Revenue Model, Funding, How it started & more.
Xoxoday provides technology infrastructure to enable rewards & recognition for global clients. The company enables real-time, digital global rewards which are linked to a client’s business KPIs. These rewards increase employee engagement, improve channel performance, enhance sales performance and build brand loyalty/retention for their clients.
Key Use Cases:
Employee Rewards & Recognition
Sales & Channel Incentives
Consumer Rewards. The products are enabled through In-app integrations (with CRM, ERP, HRMS, Survey Portals, Gaming Portals)
According to industry estimates, the company is targeting around 1% market share in around US$ 300Bn rewards and recognition industry globally. The R&R industry is divided into:
Consumer acquisition, retention and loyalty (US$ 200 Bn) – Drive consumer demand in the sales funnel to improve ARPU, loyalty & new customer growth.
This space is seeing a lot of traction in terms of funding, M&A, and consolidation and is ripe for exponential growth in the coming future. Xoxoday is poised to take advantage of this growth by solving the key customer pain points through technology, continuous innovation, and expanding its geographical footprint through organic and inorganic growth.
“We met each other (4 founders), through common friends and family circles. We were passionate, young individuals with varied backgrounds who wanted to build a great organization” says the Xoxoday founding team.
The company has around 175 employees mostly located in Bangalore, Delhi, Mumbai, Dublin & USA. The team is young and very stable. There are a lot of employees who are entrepreneurs before joining Xoxoday. There are a good number of people from premier colleges like IIT & IIM. The company has a very good working culture and that reflects in the low attrition rate in the company.
Manoj Agarwal
With 15+ years of experience in technology, product and marketing with companies like Yahoo, Flipkart & Manipal education and health, Manoj takes care of the product, marketing, customer service, and process automation at Xoxoday. An MBA IIM Kozhikode and a Computer Science BTech from PEC Chandigarh, this co-founder’s Hobbies & Interests include yoga, fitness, reading, family time.
Sumit Khandelwal
Khandelwal possesses over 14 years of experience in sales and marketing in companies like Hexaware, Wipro Consumer, Metro Cash & Carry. He is an MBA from TAPMI and an engineer from NIT Nagpur whose hobbies and interests include bike riding, reading, and running. Sumit leads finance and international sales at Xoxoday.
Abhishek Kumar
Abhishek Kumar brings in 13+ years of experience in engineering and technology and has previously worked with companies like Manhattan Associates and Nettpositive. Kumar has a BTech degree from IIT Bombay and his hobbies and interests include painting, travelling, and technology. At Xoxoday, Abhishek leads engineering and technology. Abhishek Kumar co-founded Evening Flavors and Prodintel Technologies.
Kushal Agarwal
Kushal Agarwal leads India sales for Xoxoday. Agarwal has 8+ years of experience working withBidco-Oil refineries, and has represented India in Mongol Rally and the Great Nile River Ride. Agarwal has a Btech degree in Electronics and has then opted for PGDM in Management from the Welingkar Institute of Management. Agarwal currently is the Co-founder of Xoxoday along with being co-founders of Empuls and Compass AI. His interests include travelling, car rallies, storytelling, etc.
Xoxoday is currently working with a 270+ member strong team.
The founders, Manoj and Sumit come from business families. Manoj also comes from great entrepreneur mindset companies like Yahoo & Flipkart. Both these factors gave the team a lot of initial confidence in the startup.
We also found a big gap in the market and a good business opportunity in the rewards and motivation technology business – says the team
The founders validated the idea with their existing contacts in the corporate world. Once they were confident of providing value to their customers, Xoxoday started reaching out to other companies. It acquired around 30 new clients in the first few months which was a great validation of the product-market fit.
Xoxoday – Mission and Vision
Vision
Xoxoday brings simplicity and continuity to a complex, everyday problem of human motivation.
Mission
Xoxoday’s mission is to put human motivation at the center of business growth through technology
Xoxoday – Products and USP
Xoxoday, technology products solve the following use cases in the rewards and incentives space.
Employee Rewards and Incentives
Sales and Channel Incentives
Consumer Rewards
To address the above, Xoxoday has come up with 3 products with differentiated offerings catering to each use case. These products are called: Plum, Empuls and Compass.
Plum – Transactional Reward Platform
Plum is an API-based, real-time pay-as-you-go transactional reward platform. Plum helps drive behaviours that power business results with engaging rewards including gift cards, experiences, discounts, merchandise, & more. The platform can be used to reward employees, consumers, and channel partners. Plum integrates with over 100+ platforms like HRIS (Darwinbox, Bamboo HR), CRMs (FreshDesk, Zoho), ERPs (SAP), Survey platforms (Survey Monkey, Typeform), collaboration tools (Zappier, Marketo), and more.
Xoxoday Plum logo
Empuls – Employee Engagement Platform
Empuls helps improve employee productivity, performance & retention with an easy to use engagement application. Empuls is a holistic employee engagement platform. The platform helps build and drive company culture and ethos in the organization. This helps drive employee engagement, motivation, and overall culture in the organization. A strong culture is extremely important during these times when 90% of the employees are not working from the office.
Compass is a sales and channel partner gamification software to increase sales achievement. Compass integrates with the existing ERP platform of the client and lets the user create sales campaigns. These campaigns are monitored on a real-time basis providing real-time feedback to increase sales. The platform can gamify the sales target achievement based on product lines, geographies, special sales events as per the company sales strategy.
Xoxoday – Compass
Key USPs of the solutions:
Easy to set up, use and scalable tech platform (with open APIs, integrations with 100+ apps)
Largest and most diversified reward catalog in the industry – over 120+ countries covered and over 20+ categories covered.
Over 100+ app integrations like Survey Monkey, Freshdesk, SAP, Darwinbox, Zapier, Slack, Microsoft Teams, and more.
Modern UI & UX
Idea Pivot:
Xoxoday started in 2012 but did a pivot in 2018. From 2012 to 2017, they were doing experiences and activities business in India. Similar to a Klook/Getyourguide or Viator.
“While doing this business we found that we are ahead of the market as both the supply and demand were premature in India. They still are premature. However, we were selling these experiences/activities to corporates as rewards and gifts. In 2018, we extended the rewards business into a full stack technology company covering different reward use cases for employees, channel partners, sales team, and consumers. Since 2018, we have been growing very well” the team adds.
XOXO – means Hugs and Kisses in chats. So basically, Xoxoday means love and happiness every day.
At Xoxoday, the team deeply understands the intrinsic and extrinsic motivation and engagement drivers of people, be it an employee, sales, channel partner, gig worker, or consumer. It brings simplicity and continuity to a complex, everyday problem of human motivation. It brings love and happiness in the lives of employees, sales and channel partners of its clients every day.
“Make every day rewarding,” says the tagline of Xoxoday.
Xoxoday Logo
The logo is bright orange showing energy and happiness and the connotation with “day”, just like the colour of sunrise.
Xoxoday – Business Model and Revenue Model
The revenue model is pay-as-you-go SaaS. It is similar to pricing models of payment companies like Stripe and communication companies like Twilio. Xoxoday’s Revenue model has 2 components: Commission on transactional reward revenue and Platform software fees.
Xoxoday – Startup Launch and User Acquisition
Initially, the team reached out to their contacts in the corporate world. “We requested them to give our services a try. Once we were confident of providing value to our customers, we started reaching out to other companies” says the team.
The initial set of customers was acquired through common connections, customer referrals, and organic marketing initiatives. These customers then helped Xoxoday with more referrals. Xoxoday’s product quality has been a big winner. It has built the product with quality UI/UX, modern outlook and built for the users with extensive primary research.
“We keep listening to our customers and improve the products every month” Xoxoday team added.
Xoxoday’s customer success team also has been doing very well by working with clients as partners and helping them succeed in their business metrics through its products. These two things have helped Xoxoday the best!
“Getting the right marketing mix has been a challenge. How can you build the right lead generation mechanism without shelling out a lot of marketing dollars. We experimented with various marketing tactics and hacks to overcome it.”
Xoxoday – Funding and Investors
Xoxoday raised total funding of USD 4,20,000 prior to pivoting in 2018. The startup recently was funded by Giift And Apis Partners LLP on February 23, 2022, when it was successful in raising $30 mn.
Xoxoday’s funding details are as follows:
Date
Stage
Amount
Investors
February 23, 2022
Private Equity Round
$30 mn
Giift And Apis Partners LLP
June 5, 2021
Seed Round
–
–
August 2016
Seed Round (For experience business)
$300K
Mahindra Holidays
July 2013
Angel Round
$120K
Kshatriya Ventures
Xoxoday is almost EBITDA zero and only spent for growth.
Xoxoday – Acquisitions
Xoxoday has acquired 4 companies to date. Here’s taking a look at its acquisitions:
Companies Acquired
Date of Acquisition
Amount
FamousEnuf
January 7, 2019
–
BookMyInterest
June 13, 2016
–
Actizone
January 27, 2016
–
Yipeedo
October 15, 2015
–
Xoxoday – Marketing Strategies
Xoxoday has done a lot of marketing hacks across its journey.Partnerships marketing has worked very well for the brand. The company has done various marketing campaigns with its integration partners which have been a win-win for both parties. High-quality content along with SEO has been another strategy that worked very well for Xoxoday.
Shreesha Ramdas has been the advisor/mentor of Xoxoday. He is an entrepreneurial executive with a track record of launching and growing products in competitive markets.
Xoxoday – Competitors
Tango card, Tillo, Blackhawk Network, Wegift, Workstride, Sendoso, Bonusly, Perkbox are some of the competitors of Xoxoday.
G2 crowd best rewards software in 2020 APAC region
DigitalHR award
Oracle top 50 startups in 2018
Ranked #20th in Deloitte Technology Fast 50 Award 2020 in India
Xoxoday Ranked #20th in Deloitte Technology Fast 50 Award 2020 in India
Key Players in Gamification Industry
Key Players Landscape in Channel Incentives space by Forrester
Case study published by Harvard Business Review HBR
Top 15 employee recognition platform 2021
Xoxoday – Future Plans
International Expansion – Increase presence in US, Europe and SEA markets
Product Innovation – See product roadmap below.
Xoxoday Product Roadmap
Xoxoday – FAQs
What is Xoxoday?
Xoxoday is a Bengaluru-based full-stack embedded solution company that helps businesses automate rewards, benefits, incentives and payouts and get the most out of them with modern, cutting-edge infrastructure and technology.
When is Xoxoday founded?
Xoxoday was founded on April 2, 2012.
What are the subsidiaries of Xoxoday?
The Xoxoday subsidiaries include Plum, empuls, and Compass.
What is the Xoxoday revenue?
The Bengaluru-based Saas startup was founded back in 2012 and has already crossed the 100 crore mark between the fiscal years 2018 and 2019.
