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ScoopWhoop – Ruling Internet With the Most Entertaining and Creative Content!

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 ScoopWhoop.

Instagram, Youtube, Facebook, Whatsapp, Reddit, and the list goes on when it comes to platforms for content creation and sharing. Over the past decade, the creative content curation and creation mechanisms have transformed the digital media and audiences seem to be enjoying the quick accessibility and easy sharing format that contemporary technology offers us today. It is difficult to create content that can go viral, keeping in mind the number of subjects that are put up on social media by various websites. And then came on a website called ScoopWhoop which became an overnight sensation today is one of the largest internet media and News companies in India. Read About ScoopWhoop Company Profile, Founders, Competitors, ScoopWhoop Revenue, Business Model, Funding, Growth, Logo etc.,

ScoopWhoop started in August 2013 by six colleagues who are also Indian Institute of Mass Communication alumni namely, Sattvik Mishra, Sriparna Tikekar, Rishi Pratim Mukherjee, Debarshi Banerjee, Saransh Singh, and Suparn Pandey. ScoopWhoop is one of the most popular internet media companies in the country that enables its users to discover, create and share specific stories as per their interests. It mainly focuses on sections and areas like life, news, humor, travel, sports, food, foreigners, and more. The company has been acquired by The Good Glamm Group, the parent company of the Mumbai-based D2C beauty brand, MyGlamm, on October 20, 2021, Wednesday.

ScoopWhoop – Company Highlights

Company Name	ScoopWhoop
Headquarters	New Delhi
Industry	Media & Entertainment
Founders	Sattvik Mishra
Founded	2013
Funding	~$5.6 million (September 2021)
Acquired by	The Good Glamm Company on October 2021
Website	scoopwhoop.com

ScoopWhoop – About How it works?
ScoopWhoop – Founders
ScoopWhoop – How did it start?
ScoopWhoop – Revenue Model & Business Model
ScoopWhoop – Competitors
ScoopWhoop – Funding
ScoopWhoop – Growth
ScoopWhoop – Future Plans
ScoopWhoop – FAQs

ScoopWhoop – About How it works?

ScoopWhoop is a company that provides social news and entertainment. They have a channel that provides remedies on social concerns while also having listicles on current affairs, politics, sports, etc. ScoopWhoop got its inspiration from the global trending website Buzzfeed, but ScoopWhoop came with the vision to provide the local Indian audience content which is relatable and based on Indian themes.

Scoopwhoop logo

ScoopWhoop is for the people who are bored at work and just desire to pass their time with some entertaining posts, which is easy to comprehend. Their main target audience is 15-35 age groups of people, who are constantly using social media for entertainment, and ScoopWhoop provides news with witty and funny listicles for people, which draws them regularly to their pages and channels.

ScoopWhoop – Founders

Sattvik Mishra, Rishi Pratim Mukherjee, Sriparna Tikekar, Saransh Singh, Suparn Pandey and Debarshi Banerjee are the Founders of Scoop Whoop.

Sattvik Mishra, who completed Bachelor’s in Computer Application from Symbiosis International University in 2008. Later, Mishra did Post Graduation Diploma in Advertising and Public Relation from IIMC, New Delhi.
He then started working at Webchutney as a Trainee Writer and later got promoted as Associate Creative Director. He worked at Webchutney for 4 and a half years before becoming the CEO of ScoopWhoop.
Sriparna Tikekar is the Chief Content Officer at ScoopWhoop is also the co-founder of ScoopWhoop.
Rishi Pratim Mukherjee, who did Masters in English from the University of Calcutta, also did Post Graduation Diploma in Advertising, Applied Communication and Public Relation from IIMC, New Delhi, and securing the second position with 71%. He worked as a Client Services Director at Webchutney for one year and eight months before becoming the Co-founder & COO at ScoopWhoop in December 2013.
Debarshi Banerjee is the Co-founder and Chief Product Officer at ScoopWhoop. He did B.A in History from Presidency College, Kolkata. After this, he did M.A from the University of Kolkata in 2010. He worked as a Web Developer at Conrad Green, Grasshoppers and Digivaasi and then as Technology Lead at Digivaasi. He joined ScoopWhoop in August 2014.
Saransh Singh did Bachelor’s in Mass Media from St.Xavier’s College, Mumbai and then went on to study Post Graduation Diploma in Advertising and Public Relation from IIMC, New Delhi. He worked at Webchutney for 9 years and 10 months; he started there as a Visualizer, then as Art Director and got promoted to Senior Art Director. He is now the co-founder and CEO of ScoopWhoop.
Suparn Pandey did BBA Jagannath International Management School, New Delhi before studying Post Graduation Diploma in Advertising and Public Relation from IIMC. He started working at ScoopWhoop as managing editor and co-founder in December 2013.

Scoopwhoop Startup Journey

ScoopWhoop – How did it start?

Buzzfeed became one of the most trending online platforms globally. The founders saw that online media was gaining popularity and to utilize their creative minds, they started the website ScoopWhoop as a side project.

Sattvik and Rishi planned while drinking to write an article on “If Game of Thrones is made in India, who would play what?” They wrote listicles at night for ScoopWhoop and continued their regular jobs in the day. Three months to ScoopWhoop, it already had 4 million users. Soon after this, large media companies came with big offers to ScoopWhoop; this encouraged the co-founders to make ScoopWhoop a full-time project.

ScoopWhoop – Revenue Model & Business Model

The company that has channels and pages on Youtube, Instagram, and Facebook, gains revenue through advertisers and sponsored stories. ScoopWhoop usually charges a lakh and a half for each story they do for a brand. But, they usually have a 3 post deal with the brands. So one can imagine the money this venture earns just with their social reach which can make a story/video viral just with a click of a button and without even putting a single advertisement on their website.

ScoopWhoop – Competitors

As sharing online is becoming easier, it is becoming more difficult to maintain pages and channels in digital platforms by having trending and original content for the audience. Buzzfeed India, MensXp, The Logical Indian, The Quint, etc are some of the popular pages that are competing for neck-to-neck with ScoopWhoop because all of these are behind the same target audience- the new-age millennials.

ScoopWhoop – Funding

To date, ScoopWhoop is believed to have a funding amount of $5.6 million. ScoopWhoop received funding of INR 10 crores from Bharti Softbank in October 2014. In November 2015, Kalaari Capital invested $4 million in ScoopWhoop. In February 2016, ScoopWhoop raised $1.5 million from Ignite World.

ScoopWhoop – Growth

Has a team of more than 200 employees.
Has more than 5 million followers on Facebook.
Has over 1 million followers on its YouTube Channel.
Has more than 165.6K followers on Twitter.
Launched two new platforms for specific audiences- Vagabomb and Gazabpost.
Successfully added flight content on its application.

ScoopWhoop – Future Plans

“We don’t care where people consume our content, as long as they do! We are completely platform-agnostic.” Says Sattvik, Founder, ScoopWhoop

Sattvik also rightly pointed out that with the advent of Reliance Jio and the deeper penetration of smartphones in the society and the country at large, network connectivity is going to be the next game-changer in the content creation industry. This effectively points to the fact that in the coming years’ video content is going to be the most popular form of taking in content by the users. The users here are mainly the millennials because they account for most of the target audience who would like to take in creative video content that possibly passes their time in the most interesting manner.

Also read: Roposo – A platform to express and explore Passion for Fashion

ScoopWhoop – FAQs

Who are the Founders of ScoopWhoop?

ScoopWhoop was founded by Sattvik Mishra, Sriparna Tikekar, Rishi Pratim Mukherjee, Debarshi Banerjee, Saransh Singh and Suparn Pandey in 2013.

What is Scoop Whoops’ Revenue?

Scoop Whoop generates around $2.4 million in Revenue. It usually charges around 0.5 lakh for each story they do for a brand.

How much funding ScoopWhoop has raised?

ScoopWhoop is believed to have a funding amount of $5.6 million till date. Its investors include Bharti Softbank, Kalaari Capital, Ignite World.

How does ScoopWhoop Make Money?

ScoopWhoop usually charges around half lakhfor each story they do for a brand. But, they usually have a 3 post deal with the brands. So, the money this venture earns just with their social reach. Scoop Whoop generates around $2.4 million in Revenue.

Who are ScoopWhoop’s Competitors?

ScoopWhoop’s competitors are Storypick Media, BuzzFeed, Dainik Bhaskar Group, MensXp, The Logical Indian, The Quint.

Who is ScoopWhoop’s CEO?

ScoopWhoop’s CEO is Sattvik Mishra.

Is OK Tested part of ScoopWhoop?

ScoopWhoop Media is an Internet media company. It runs three different publications, ScoopWhoop, Scoopwhoop Hindi, Ok Tested, Scoopwhoop Unscripted and Vagabomb.

October 22, 2021

Startups That Are Funded By Deepika Padukone

India is known to have the third-largest startup ecosystem in the world. According to the Nasscom report, the country will have more than 50 unicorns by the end of 2021 and more the 100 by 2025. This growth has only been made possible because of the venture capitalists, angel investors, businessmen and high net worth individuals that have been funding startups that have potential.

Bollywood celebrities like Alia Bhatt, Suniel Shetty, Shilpa Shetty Kundra, Madhuri Dixit Nene, Anushka Sharma, Katrina Kaif, Deepika Padukone, Aishwarya Rai Bachchan and Sonu Sood have also been investing for the past few years to give their career another direction.

Deepika Padukone is one of the highest-paid actresses in India and among the 100 most influential people in the world, according to 2018 Time Magazine. She is the daughter of Prakash Padukone who is a well-known badminton player in India.

Deepika Padukone is known for her work in movies like Om Shanti Om, Yeh Jawaani Hai Deewani, Piku, Bajirao Mastani, Padmaavat, Cocktail, Chhapaak, etc. The actress has spoken up for issues such as Feminism and Depression, designed her own line of clothing called All About You and has been a celebrity endorser for brands and their products.

Besides that, she is also the chairperson of the Mumbai Academy of the Moving Image and also the founder of the Live Love Laugh Foundation bringing awareness about mental health.

Deepika Padukone is now not only an investor but is also involved with the brand strategic decisions. The actress investments are made through the KA Enterprises which is her family office, in which she is a co-director along with her father Prakash Padukone. Through KA Enterprises the actress has invested in many startups such as Epigamia which is an FMCG brand of yoghurt products, FrontRow a hobby based EdTech startup, Blu Smart an electric taxi startup and even Bellatrix Aerospace which is an Indian space tech startup.

List of Startups funded by Deepika Padukone

BellatrixAerospace
Blu Smart
FrontRow
Epigamia
Supertails
Frequently Asked Questions

Bellatrix Aerospace

Bellatrix Aerospace is an Indian private aerospace manufacturer and a small satellite company that was established in 2015. The Spacetech startup was founded by Rohan M Ganapathy and Yashas Karanam and is based out of the Indian Institute of Science in Bengaluru, Karnataka.

The company is known to be evolving and growing in order to develop key technologies in electric propulsion, new generation propellants and launch vehicles. The company plans to launch its own rocket named Chetak in 2023, the speciality of this particular rocket is that it is powered by Aeon engines and that it uses liquid methane as fuel.

The Space tech startup has so far raised over $3 million in a Pre-Series A round from venture capitalists like IDFC Parampara, Karsemven Fund, StartupXseed, Survam Partners, and actress Deepika Padukone through KA enterprise, etc.

The funds generated will be used to expand its team and will help them demonstrate its thruster technology in space. The company has also partnered with Skyroot Aerospace in February 2021. The Bengaluru based startup is now reviewing NASA and European Space Agency standards in order to make their tech reach the global standards. The company aims to build its own launch vehicle and make water-based propulsion systems.

The startup is currently working on building an electric-based propulsion system which is the Microwave Plasma Thrusters (MPT). This supposedly will help their clients to take bigger payloads into space at a lower cost. The MPT propulsion system is also more eco-friendly, lightweight and costs less than compared to the chemical propulsion system. ISRO (Indian Space Research Organization) is now on board to help develop this technology. According to the founder Rohan Ganapathy, Bellatrix will soon be setting up its offices in the US and Europe.

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Blu Smart

Blu Smart is an electric taxi startup founded in October 2018 by Puneet Singh Jaggi, Anmol Singh Jaggi and Punit K Goyal. The startup claims to so far have more than 20,000 customers in the Delhi NCR in just 3 months from its launch, scaling its ridesharing fleet to more than 200 electric cars. By 2019, the company has scaled to over 500 cars in Delhi and Mumbai making it the largest all-electric B2C ridesharing company in India and top 3 in Asia.

An example of the BluSmart car

The company is headquartered in Gurugram, Haryana; while it’s creating many job opportunities for drivers with a monthly revenue stream. Blu Smart is slowly transforming metropolitan cities in India by providing 100% electric, sustainable and most reliable mobility solutions.

Blu Smart is aiming to make an all-electric ecosystem with funding from venture capitalists and partnerships across automotive, infrastructure and energy companies. It also is planning to board more than 15,000 electric cars and 2500 chargers on the platform by the end of 2021.

The company generated $3 million funds from Deepika Padukone who invested through her family office KA enterprises, along with other investors like JITO Angel Network, Sanjiv Bajaj and Rajat Gupta from Bajaj Capital, Survam Partners and Rajesh Agarwal from Micromax.

According to Punit Goyal the co-founder of BluSmart,

“Blusmart is focused on providing superior mobility experience for its customers, cost savings, passenger safety and security. Our innovative mobility allows customers to travel whenever they want without the hassles of car ownership and stress of finding parking spots in densely populated urban areas.”

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FrontRow

FrontRow is an ed-tech startup that is based in Bengaluru and Mumbai with a 20 member multi-disciplinary team. The company was founded by Shubhadit Sharma, Mikhil Raj and Ishaan Preet Singh who were executives from the startup ecosystem before coming together and starting FrontRow.

The Bengaluru based startup wants to make non-academic learning accessible and affordable for Indians in rural areas by getting funds from high profile investors. The company enables everyone to pursue their passion and learn from the best professional experts and celebrities.

FrontRow claims to be Building ecosystems around passions like comedy, cricket, dance, music, cricket and fitness among others. There is a huge demand for learning non-academic subjects in India. This is why each course it provides contains 15 to 25 video lessons available at affordable prices like Rs. 500.

These courses are taught by experts in that field like for example Singing is taught by Neha Kakkar, Standup Comedy taught by Biswa Kalyan Rath, Batting by Suresh Raina, Bowling Bhuvneshwar Kumar, Rap by Divine, Music composition by Amit Trivedi, etc.

Frontrow Website

Ishaan Preet Singh the founder of the startup says that they will be many more courses coming in 2021, and will also be doubling down on the categories. The company is bridging the gap between urban and rural cities by providing offline and online video lessons.

It is also allowing its users to participate in daily challenges, peer to peer interactions, collaboration opportunities and activities featuring celebrity’s judges also receive feedback and tips from their mentors. FrontRow is also planning to expand to other channels like B2B partnerships besides the D2C one.

The company is targeting hobby learning which is the Ed-tech sector’s next big thing. This is why the company managed to raise a seed funding of $3.2 million from Investors like Lightspeed India, Elevation Capital and Deepika Padukone through KA Enterprise.

In an interview, Deepika mentioned her reason behind funding this startup saying that,

“If there’s one thing I wish I had access to while growing up, it would be a platform like FrontRow, because its gives access to abundant knowledge in non-academic fields and connects them to a community of peers and professional of the fields of interest”

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Epigamia

Epigamia is an FMCG startup that was launched by Rohan Mirchandani, Uday Thakker, Chef Ganesh Krishnamoorthy and Rahul Jain in 2015. The company first started out being a Greek Yogurt brand and then went on to expand its products to artisanal curd, snack pack, Misti Doi and even smoothies.

Epigamia markets its products through 21 different stock keeping units and 7000 retail stores which include Big Bazaar, Godrej Nature Basket, Big Basket, Amazon, Reliance Fresh in metropolitan cities like Delhi, Mumbai, Bengaluru, Chennai, Hyderabad, Pune, Ahmedabad and Kolkata.

The journey of Ghee spreads with Deepika Padukone

The company has so far created more than 21 different products and plans to scale all over India and enter 50,000 stores in the coming years. The FMCG market is currently over $1.2 billion dollars, over 6% of the orders come from metro cities ordering through online channels of the FMCG total sales.

The FMCG market in India is estimated over $104 billion in the year 2020 and is said to be growing at the rate of 28%. This is why Deepika Padukone decided to invest in the company in May 2019.

The company has so far raised $51 million from investors like Verlinvest, Danone Manifesto Ventures, DSG Consumer Partners and Deepika Padukone from KA Enterprise in the 3^rd round of funding.

According to Rahul Jain the co-founder of Epigamia, the company aims to increase its consumer base and added that, “We believe that our association with Deepika Padukone will go a long way in making people aware of our brand and product. Deepika is a perfect fit to bring to life the brand ideology.”

In a recent interview, the actress also stated that “not only do I love the products that the company makes but also connect very strongly with the brand philosophy, the team has big plans for future expansions and I am excited to be closely involved as we make new products and enter new cities.”

The most recent product the company made was the Chocolate ghee spreads, which was marketed by Deepika Padukone as it was her idea to mix ghee and chocolate together. Deepika along with Epigamia also made an Instagram challenge called #DigSwirlSpread which took Instagram by storm, advertising the company and its products instantly.

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Supertails

Deepika Padukone, a global Indian icon, and other investors led a $2.6 million USD pre-series A investment for Supertails.com.

Supertails.com, a Bangalore-based digital pet care start-up founded by Mr Varun Sadana, took an entry into India’s fast-developing pet care sector. Supertails.com is a one-of-a-kind platform that serves the growing pet parent community by offering dependable veterinarian services and a one-stop-shop for pet food and supplies.

Supertails.com is distinguished by its one-of-a-kind offering of a fully digital telehealth consultation service provided by a team of highly skilled in-house veterinarians. The brand strives to bring pet parents closer to the widest choice of pet supplies from India and around the world, with doorstep delivery services available across the country.

Supertails.com seeks to enrich this new adventure for them with items and services that they need the most as more people join pets to their families. The founders of Supertails.com and their team of pet care specialists and enthusiasts are united by a tireless love for the pet care ecosystem and a mission to make India a pet-friendly nation.

Frequently Asked Questions

Who is Deepika Padukone?

Deepika Padukone is one of the highest-paid actresses in India and among the 100 most influential people in the world according to 2018 Time Magazine.

What are the startups funded by Deepika Padukone?

Deepika Padukone has invested in many startups such as Epigamia which FMCG brand of yoghurt products, FrontRow a hobby based ed-tech startup, Blu Smart an electric taxi startup and even Bellatrix Aerospace which is an Indian space tech startup.

What is the clothing line of Deepika Padukone called?

The clothing line of Deepika Padukone is called All About You.

What is the net worth of Deepika Padukone?

The net worth of Deepika Padukone is Rs. 103 Crore.

What is the KA Enterprise?

KA Enterprises is the family office, in which she is a co-director along with her father Prakash Padukone. The actress funds startups through this office.

October 22, 2021
Creative Marketing Strategies of Nearbuy

Nearbuy was started in 2011 by Ankur Warikoo, Snehesh Mitra, and Ravi Shankar. The company is based in India and is funded by Paytm. Its headquarters are based in Gurgaon, Delhi and have their presence in 33 cities in India. The core of the company is technology and product-driven. They live by the motto: Work is play.

Their e-commerce website provides services connecting consumers with the largest number of local businesses in India. Their app classifies itself in the lifestyle section. It encourages consumers to explore the city, discover buzzing hotspots nearby, and choose from, and allows the freedom to choose from a wide range of categories.

The website makes it easy for the consumers to discover things to do close to them and avail exclusive deals across various categories like: Restaurants, Spas, Salons, Movie halls, Retail stores, and Amusement parks. And more.

The website boasts about taking local e-commerce where it has never been taken before. With the company’s motto “This is where you belong” if you thrive on the thrill of operating in a world of firsts an it encourages consumers to explore the city, discover buzzing hotspots nearby, and choose.

Target audience of Nearbuy
Nearbuy Marketing Strategies
Top Partners of Nearbuy
FAQ

Target audience of Nearbuy

Their target audience is all the people who would like to spend but also get something that is easy on their pockets. That includes college-going students, people who have just started working, foodies; and explorers who like a little discount to save up a bit of their money.

Nearbuy Marketing Strategies

The advantage of creating something that is worth sharing:

Following a simple business model, Nearbuy offers cashback deals, coupons and great discounts to its consumers and helps them save money at every step they take. These consumers are constantly on the lookout for places to go. Like restaurants, for shopping, spas, salons and a lot more with discounts, obviously.

The advantage? They know exactly their target audience and what is the segment in the market to whom they are selling their services to, understanding their needs like “what do they want?” By providing discounts to its customers. The idea of having multiple brands offering you something you value at a discounted rate just does the trick!

Social media combined with Influencer marketing:

Take a look at Nearbuy’s YouTube channel. You can notice they are making the most out of it with the famous comedian, Zakir Khan featuring in their ad campaigns.

Creating an influence on people, building that link of trust. Apart from YouTube. Nearbuy also has its presence on platforms like Facebook, Instagram, LinkedIn, and Twitter.

Innovation:

Innovation helps any company stay on top. With the change, if the company fails to keep up with it, it fails. People are quick to forget about your product or service, let alone the name of your brand. Remember Jabong? The company could not keep up with the change.

Nearbuy talks about bringing their agile innovation – releasing standard-defining new products every year. It has also launched nbPAY, India’s first Payment-linked deals product. Also has Gift Cards as a category, offering deals on gift cards. It keeps up by bringing in new ways that might interest consumers.

Engaging Instagram Marketing:

Nearbuy Instagram

The brand optimizes its social media presence on Instagram to create conversations among its audience. With posts wishing them for any festivals or occasions. And creating informative posts on various topics like types of forks, hair care tips for people with thick hair, the dos and don’ts of makeup, and more.

Captivating the audience with videos:

Nearbuy YouTube

Using videos is important as the right embedded videos can increase conversions by 86%. The short, descriptive videos on YouTube captivate the audience, using the platform of YouTube with content. Nearbuy does just that.

Taking on the Digital Space:

Nearbuy Website

Apart from that, it also has a strong landing page, that allows the consumers to connect easily and know more about them. Giving them a boost of having a strong digital presence.

We can conclude that Nearbuy has a smart, innovative and simple yet effective marketing strategy to drive change while helping local businesses thrive.

Top Partners of Nearbuy

The companies that Nearbuy has partnered with include top restaurant, spa, and salon brands, which includes:

KFC, Barbeque Nation, Dominos Pizza Hut, PVR, INO, Cafe Coffee Day (CCD), Smaaash, McDonald’s, Water Kingdom, Essel World, Kidzania, O2 Spa, Big Bazaar, Amazon, Myntra, Jabong and Looks Salon.

FAQ

Who is the founder of Nearbuy?

Ankur Warikoo, Snehesh Mitra, Sachin Kapur, Ankur Sarawagi, Sumeet Kapur, Ravi Shankar are the founders of Nearbuy.

Why did Nearbuy fail?

Nearbuy failed to set its foot in India because deal platforms are not something Indian consumers crave for.

Who is the parent company of Nearbuy?

Paytm and Little Internet Pvt. Ltd. are the parent organizations of Nearbuy.

October 22, 2021
9 Lesser known Facts about Pinterest Every Pinterest user must know about

Ever asked yourself this question? : Is this picture Pinterest worthy?

The key to it, is when you ask ‘What is Pinterest?’ The answer lies in the question posted above. It is a visual search engine. Yes, you read that correctly. Many times, we mistake it for a social media platform that helps you connect.

It was co-founded by Ben Silbermann, Evan Sharp, and Paul Sciarra. Silbermann, the CEO, is a former Google employee in AdSense and studied at Yale. The application was launched back in March 2010.

The app now has more than 500+ employees, available on three platforms: Web, Android, and iOS, in 30+ languages. It is located in San Francisco, with headquarters in CA. And offices in New York and Chicago, Atlanta, Los Angeles, London, Paris, Berlin, and more, to name a few.

The app is based on the key message that:

It starts with a great idea.

Lets take a look at the interesting facts and stats about Pinterest:

The Story behind the name
It made History in 2011
85% of pinners use the app to save their pins
Pinterest is more popular than you think
Pinterest taking it up a notch
60% of the audience that uses Pinterest are women
The international community, on Pinterest has a wider scope.
77% of active Pinterest users discover new products or brands on Pinterest.
The app has the potential to be a search engine.
FAQ

The Story behind the name

Ben Silbermann

The girlfriend of Silbermans came up with the name Pinterest and the site was first launched in 2010 as a beta. Gradually they opened up the site on an invitation-only basis.

Adding up since we are talking facts: Pinterest birth was inspired by a failed app.

It made History in 2011

Pinterest in Times for 50 best websites

Team go big, or go home, the app made it to TIME magazines, listing it as one of the best websites, among the top 50. Just a year after its launch! And since then, it has been breaking records.

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85% of pinners use the app to save their pins

It does not matter if you are a blogger, using the app for marketing or to drive traffic to your website. Pinterest has half of its traffic driven from mobile devices and the active 85% of pinners use the app to save their pins.

Tip: Creator’s alert! You all need to use and design layouts for your Pins that are more mobile friendly.

Pinterest is more popular than you think

The number of people under the age of twenty-five is rapidly growing. It has doubled since 2020. Snapchat has 280 million annual users and Twitter has 186 million. Pinterest has more monthly active users now than these two combined. It is gaining popularity and running ahead of Twitter and Snapchat in the long haul.

Pinterest taking it up a notch

Number of monthly active Pinterest users worldwide

Pinterest had around 320 million active monthly users in the last year. And now they have around 459 million of them. We are looking at a growth of almost 100 million users here. The app is really taking it a step up.

60% of the audience that uses Pinterest are women

60% of the audience that uses Pinterest are women, plus 4 in 5 moms in the United States look for products to buy, and ideas actively, Have a business that sells products that targets mums? You know what to do.

The International Community on Pinterest has a wider scope

Around 74% of the audience falls under the age group of 18-44 years. Not to forget it’s becoming popular among younger generations, too. Now that you know the secret, use it wisely. If you need to know the target group of your brand. But do not forget, the target audience always consists of both your loyal customers and your potential consumers too.

The platform has huge potential to reach a wider range of audiences. 50% of app users live outside the U.S. Curating content for the platform? Think again.

77% of active Pinterest users discover new products or brands on Pinterest

Pinterest ads are relatively 2.3× cheaper per conversion (when your audience takes an action, like contacting your organization or making an online purchase) compared to other social media ads. Adding to the benefits, the users on the app are 3× more likely to click through on your website to get to know more about it. Besides, 77% of active Pinterest users have discovered new products or brands through Pinterest.

The app has the potential to be a search engine

Pinterest search is a core element of Pinterest. Pinterest does not call itself a social network. Sounds strange, right, but it’s true.

The huge tech giant company continues to grow and thrive with its unique features.

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FAQ

Who founded Pinterest?

Ben Silbermann, Paul Sciarra, and Evan Sharp founded Pinterest.

What is the revenue of Pinterest?

The annual revenue of Pinterest is 16.9 lakhs USD.

When was Pinterest Founded?

Pinterest was founded in 2010.

October 22, 2021
Business Model of Honey | How does Honey makes Money

Honey is a software extension that helps you find suitable coupon codes for the product you have sold. Honey was started in 2012 in Los Angeles with the sole purpose of helping buyers find genuine codes. It started small but with time, it got a lot of success.

Today, it works with more than 30,000 retailers. It has an extension for many browsers like Google Chrome, Mozilla Firefox, Microsoft Edge, Opera, and many other prominent browsers.

Within its short journey, it has earned a lot of loyal customers over time. These customers use the services of Honey almost daily for their purchases. Honey gets mostly used when they want to order pizza. It works more efficiently in this field because this idea came to co-founder Ryan Hudson when he could not get any reliable coupons when he was buying Pizza. In this article, we will look at the business model of Honey in detail.

About Honey
Business Model of Honey
How does Honey make money?
What is unique about Honey’s Business Model?
Honey PayPal Acquisition
FAQ

About Honey

Honey was started in 2012 with the intention of providing reliable information of coupons. The idea came to the co-founder Ryan Hudson when he could not find any reliable coupon to buy pizza. Even after finding a reliable coupon, he found that it was a tedious task to find proper codes. He thought of automating the process completely. He started coding the extension for the Google Chrome browser.

At first, Honey was not so successful. Both of the founders George Ruan and Ryan Hudson after developing their minimal viable product went to various investors who did not fund them at all. As a lot of investors were turning down their offer, the founders got frustrated. Soon they were out of funds and, Hudson started working in an ad tech company.

Honey Founders

Things turned around when somebody mentioned Honey on Reddit. Soon Reddit started flooding with praises of Honey as people many had installed the extension and were delighted by its usage. In 2016, they managed to get their first funding of $4 million.

In 2017 alone, it had 5 million downloads. In 2020, the downloads reached to 10 million.

Business Model of Honey

Honey makes money from affiliate marketing. Honey does not have any deals with the stores directly. They work with various affiliate marketing platforms. Currently, Honey is working with about 20 affiliate marketing platforms. Their platform includes big companies like eBay, Rakuten, Groupon, Commission Junction, ShareASale, and many more.

Apart from that, the company has set up some unique ways to grow themselves. Honey has set up clever cashback programs which will help them retain customers. This will lead to the long-term growth of the Honey platform as it is increasing its customer base.

Honey has cleverly designed interfaces that would enhance compatibility with the user. It has a feature where it can compare different products of the same category and show their price comparison to the customer. Customers also receive a cashback under the Honey gold program. This increases the recall value of the customer. It also increases their market share.

Honey Gold Program

How does Honey make money?

Basically, Honey earns money from affiliate marketing but it has many other features integrated to enhance its affiliate marketing business. Honey is a unique product and it has also positioned itself cleverly in order to capture the majority market share.

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What is unique about Honey’s Business Model?

Honey gold program

Honey has a gold program where they give customers some cashback from the affiliate earnings. Thus it is a win-win situation. Through this, Honey retains more customers. Also, the customer is benefitting by saving more.

Droplist

Honey Droplist

In this droplist, you can check the cost drop for the selected item. It helps the consumers to make better decisions and, it also enhances consumer convenience.

Price history feature

Honey Price History

You can also see the price history of the product with the Honey extension. It helps the customer make better decisions. For example, if the product is showing a periodical dip then, the customer can delay his/her purchase and wait till the price drops again.

Amazon’s best price

With the extension, you can choose the best Amazon price. The honey extension shows the price of different products available for the selected item.

Savings finder

Honey Savings Finder

It automatically applies coupons from other prominent sites. This is the main feature why Honey is so attractive.

Honey PayPal Acquisition

Honey had slowly evolved from a small business to a billion-dollar evaluation company. They had specifically integrated such features which would enhance their customer adaptability.

With time it positioned itself competitively and grew as a unique company. Things started turning and, Honey generated revenue. Their business model worked perfectly and, investors flocked towards the company.

PayPal noticed the company and started negotiations with the founders. In 2020, January PayPal acquired Honey for 4 billion dollars. PayPal integrated Honey with its platform.

PayPal acquired Honey because they don’t have much chance of collecting data from a user. Honey is an extension that plays a major role in the buying behaviour of the consumer and acquires those data. This data will help PayPal acquire more data regarding its users. This helps them understand the likes and dislikes of the people.

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Conclusion

Honey has slowly but steadily grown its business. Initially, they started small and then went on to implement some clever strategies to make itself more user-friendly. They acquired more customers and retained them with much-shrewed techniques. Their step-by-step proper implementation has made them a huge success.

FAQ

Who is the founder of Honey?

George Ruan and Ryan Hudson is the founder of Honey.

How does Honey app make money?

Honey makes money from the commission made on user transactions with partnering retailers.

Did PayPal acquired Honey?

PayPal acquired Honey for $4 billion in 2020.

October 21, 2021
Top 3 Worst-hit Companies by the Global Semiconductor Shortage

For any business involving semiconductors, you must have heard or seen about the chip shortage lately. Well, creating a chip is an extremely long, entangled and expensive process, which definitely puts it in the spot of shortage.

Chips (Semiconductor or microchip) have made many things possible today. These are the major elements for any gadgets or you can simply refer to them as the life of the gadgets. And for this semiconductor industry, Taiwan dominates over everyone in this entire world. It is even responsible for more than half of the global market share of generating these chips.

But lately, in the pandemic of Covid-19, a major shortage of these silicon chips have been noted. According to a report by IEEE Spectrum, the automakers abolished the production of vehicles at the very beginning of the pandemic and ordered huge amounts of chips.

Looking at these statistics, the chipmakers thought that other industries will also follow this and this resulted in decreased chip production. But what actually happened was entirely the opposite of what the chipmakers thought! Demands for chips rose because of the digital remote of the classrooms and offices.

Because of this, some of the biggest companies across the world got affected pretty badly. And that’s what we are discussing in this article. We have described how some of the top companies got affected by the shortage of chips. Let’s get started!

Top 3 Companies affected by Global Chip Shortage

Apple
Nintendo
Sony
FAQ

Apple

Apple iPad 2021

This might come as a little shocking to you that a company as big as Apple gets affected by the chips shortage! But this is true.

As of April 2020, Apple published its second-quarter revenue report which clearly outdated the estimation made by the analysts. Within the same period, the CFO Luca Maestri, through a conference call, warned the company that because of the supply limitations, the revenue can be decreased by $3-4 billion, that is, its third-quarter revenue. He mentioned that because of the shortage in the chip’s supply, the sales of iPads and Macs can be majorly affected.

These gadgets carry a very high demand among the customers, especially in the pandemic when everything went digital. The CEO of the company, Tim Cook said that the chip shortage only affected the “hereditary nodes” of the previous chips, although the company didn’t really reveal the specification of the chip.

Apple entirely relies on Taiwan Semiconductor Manufacturing, for the production of chips needed for the creation of Apple’s products.

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Nintendo

Nintendo Switch OLED

The company, Nintendo, has already established itself with some very serious complications. This was mainly because the investors questioned how Nintendo’s aging Switch gaming console could survive or beat the PS5 and Microsoft’s Xbox series consoles. But the company proved everyone wrong when it came out with a tremendous fourth-quarter revenue report, beating the estimation made by the analysts.

Nintendo got majorly affected because of the chip shortage and brought hard competition to the robust sales of the company throughout the pandemic. Because of this, the company is expected to decrease the operating profit up to 9% and 22%. Alongside, the annual Switch console shipment will also decrease by around 11%.

Nintendo uses the fast NVIDIA chip along with the Samsung OLED display for the development of its upgraded Nintendo Switch OLED. But because of the chip shortage, it became difficult to launch these.

Sony

Sony PS5

The very famous Sony came out with the latest PS5 consoles at the end of 2020. Chips were expected to play a very vital role in this as they would enhance the gaming and networking services segment. This alone holds the revenue of 30% along with 35% of the operating profit in the fiscal year 2020.

The gaming and network services rose up to 35% in revenue in the year 2020 which increased the sales of PS4 software alongside the launch of PS5’s launch. In fact, the PS5 also witnessed huge profit at the beginning of its sales. Sony sold around 7.8 million PS5 units by the end of March 2020 and the estimated data showed that the sales would increase more vibrantly throughout the year.

But because of the global chips shortage, the PS5 console could not reach the growth trajectory which was expected to rise with great heights. The chip shortage caused delays in the third-party game publishers that resulted in the postponing of the PS5 console among the larger audience.

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Conclusion

The global chips shortage resulted in some major losses for companies. Although both Sony and TSMC are working on speeding the production of chips all over the world. Still, many doubt that won’t be possible on a larger scale. Many theories and speculations have been made on this venture but still, no proper answer has been finalized for a better cause.

The chips/microchips/semiconductors are the basic element for any electronic gadgets and companies like Apple or Sony that produce these on a massive scale face major issues and losses during such crises. In this article, we highlighted the three major companies that faced a major crisis because of the shortage of chips.

FAQ

Why is there a silicon chip shortage?

The reason behind global chip shortage is supply chain disruptions due to the pandemic and a sharp rise in demand for electronic goods.

How long will the chip shortage last?

According to some analysts the shortage will likely last until 2023.

Which is the largest chip manufacturer?

Taiwan Semiconductor Manufacturing Co. or TSMC, is the world’s largest contract manufacturer of the semiconductor chips.

October 21, 2021
6 Best Image Background Remover Tools | Bg Remover
Removing background from a picture might sound like something seldom practiced, or rare, but not to social media designers, or professionals who use tools like Illustrator or Photoshop. Most of their work revolves around creating and using vector images, for a social media post, or a blog poster, or even a printed poster. To put it plainly, removing background from pictures is more like part of their job description.

Having said that, it can be a tough job to find the right Background Removal Tools, since different tools use different algorithms for the task; and depending on the picture, some might give better results than others. However, here we discuss 6 of the most used Background Removal Tools, that most designers use for state-of-the-art results, to help you find the most suited for your needs.

Top Image Background Remover Tools
1. Photoshop
2. Gimp
3. Crello
4. CorelDraw
5. PhotoScissors
6. Clipping Magic
Conclusion
FAQs

Top Image Background Remover Tools

Here are listed some of the best image background remover tools to remove image background from images.

Photoshop

Adobe Photoshop – Background remover tool

Let’s be honest here, all of us saw this coming. Adobe Photoshop is one of the favorite tools of Designers, and that isn’t going to change anytime soon. With the range of features that it offers, Photoshop has rightfully earned its place at the top. It allows users to not just remove background, rather transform pictures with brush strokes, graphic designs, alternate backgrounds, and much more.

Features offered by Photoshop
- Make your pictures more lively and professional by adding drama and painterly effects along with a healing brush and other tools.
- Choose the text font that you wish to overlay, create photo collages for posters and work with lightroom to get the best experience.
- Remove a picture’s background, blur it, or even change it, Photoshop allows you to essentially play with effects, and explore a variety of filters.
- With avant-garde object removal tools, remove any unwanted entities in your pictures and have a flawless product.
- Also, work across Adobe Creative Cloud, and use content-aware filters, to get the best results.
Pricing for Adobe Photoshop

Adobe Photoshop Single app can be bought for desktop use at a cost of Rs 1675.60 per month, while Adobe with all the applications and tools costs Rs 4230.30 per month for desktop and Creative Cloud usage.

Adobe Photoshop background remover

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Gimp

Gimp image background remover tool

Gimp is a free and open-source image editor that offers some of the top-notch editing tools such as background removal, graphic designing, and photo enhancement along with various others. Regardless of whether you’re a photographer, graphic designer, or even a scientist, Gimp is an editor that gets along with any profession with the range of features it has to offer.

Features Offered by Gimp
- GIMP is an expert photo manipulator that helps you stylize your pictures with retouching and restoring and filter testing your images.
- GIMP allows for scripted image manipulation with languages such as C, C++, and Pearl along with color management and reproduction.
- Turn an image into a unique and eye-catching product with Original Artwork Creation and Graphic Design Elements.
- GIMP can be integrated with many programming languages including Python and Pearl, and customized through the use of APIs and Plugins.
- You can also engage in file formatting with Hardware support, and use Scribus, Inkscape, and Swatchbooker.
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Crello

Crello – Background removal tool

Not only does Crello allow users to remove background from images, but it also provides expanded access to editing features for your work with visuals. This graphic design tool is free to use, and it helps beginners and advanced users create original content in minutes.

With Crello, you can remove backgrounds from images, add and remove objects, change colors, apply filters, make image backgrounds transparent, and more. The tool is replete with thousands of pre-designed, fully customizable templates for 50+ visual content formats.

Features Offered by Crello
- Free access to 50,000+ static and animated templates
- A massive, continually updating library of premium images and royalty-free stock files
- Advanced features like image background removal and designing in a team (You can create a multi-user account)
- You are free to download complete designs in preferable formats or share them instantly via Crello’s artboard
- A collection of videos and animations to use in designs
Crello- background remover Tool

CorelDraw

CorelDraw image background remover tool

CorelDraw is another powerful and robust graphics illustration and image editing tool that helps you develop crisp and vibrant pictures. From carving to clip masking to tone adjustments CorelDraw has a plethora of features to offer and works as an all-around image editor rather than just a Background Removal Tool. Moreover, it offers a Graphics suite for Windows, Mac, along with a technical suite.

Features Offered by CorelDraw
- CorelDraw offers you various integrations for professional applications, and lets you collaborate with your clients and colleagues.
- Enjoy a productive workflow with a precise range of illustrations and designing tools for a comprehensive professional experience.
- CorelDraw enables you to get feedback on your designs and templates by inviting your clients to review and annotate your work.
- Adjust line weights for different shapes and manipulate halo width for seamless scaling.
- Enhance specifics and minute details of your pictures with a plethora of new image optimizations including legless callouts, automatic hotspots, and much more.
CorelDraw – image background remover tools

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PhotoScissors

PhotoScissors Background Remover

PhotoScissors can be used both, as an online tool to remove image background, as well as a downloadable desktop tool for the same. It is quite a simplistic tool, which doesn’t ask anything of you except to upload the image that you wish to remove the background of. Moreover, sometimes when regular algorithms fail to differentiate between the background and the object of the image, PhotoScissors easily make them identifiable by transparent marker tool.

Features Offered by PhotoScissors
- Seamlessly segregate the foreground with the background and remove complex backgrounds, without the use of any technical skills.
- PhotoScissors allows you to swap backgrounds, segregate images with as much finish as perfection to a fine hair, and create collages.
- It also offers you a Transparent Marker Tool, which makes it easy for images with a difficult to recognize background, such as those with transparent objects, to remove their backgrounds.
- You can also cut out objects from images and create isolated images with transparent backgrounds.
- It is one of the simplest tools and can be used by anyone to prepare pictures of products in all popular formats such as png and jpg.
PhotoScissors – image background remover tool

Clipping Magic

Clipping Magic Background Removal Tool

Clipping Magic is a background removal tool just like the rest of the tools which made the list, and a good one at that. Clipping Magic is a fast and seamless tool that does everything by itself except selecting your desired image, and with the help of auto edge feathering mode, it perfectly removes any background of an image, however transparent. Moreover, Clipping Magic is more than just a background removal tool and lets you add shadows, reflections, colors and offers much more functionality.

Features Offered by Clipping Magic
- Easy to use drag and drop interface with an option to paste the image instead.
- The auto edge feathering mode helps blur edges which gives a better finishing to the image after background removal.
- The Auto Clip AI, trained with millions of images can handle background and foreground segregation better than most.
- Edit your image instead of just removing the background with the Smart Editor, which lets you have complete creative control.
- You can also configure default settings to give your images the required color grading and other effects to get professional shots.
Pricing for Clipping Magic

Clipping Magic bases its pricing on the number of credits it offers per month in three different plans. The Light Plan offers users 15 credits per month and costs $3.99 per month, the Standard Plan charges $7.99 per month for 100 credits while the Pro Plan offers 500 credits per month at a cost of $19.99.

Clipping Magic- image background remover tool

Conclusion

This was our list of the 6 Best Background Removal Tools that most designers use for state-of-the-art results. Hope it helps you find the most suited image background remover tool for your needs.

FAQs

What are the best background remover tools?

Some of the best tools to remove background from images are:
- Photoshop
- Gimp
- Crello
- CorelDraw
- Colorcinch
- PhotoScissors
- Clipping Magic
What are the best image editing tools?

Best Apps for Image Editing are:
- VSCO
- Adobe Lightroom
- Adobe Photoshop
- Fotor Photo Editor
- Snapseed
- Pixlr
- ON1 Photo Raw
- Facetune
- Enlight Photofox
- PicsArt Photo Studio
October 21, 2021
WeWork Business Model | The Secret behind WeWork’s Success

WeWork was once hailed as the fourth highest-valued startup in the world after giants like Uber. It took on to the startup world through its idea of co-working spaces, which became really popular in a very short span of time.

As its name indicates, WeWork offers office spaces for various businesses and entrepreneurs to pursue their work at a cost that is far lesser than what they would have had to spend if they were preparing a workspace from scratch.

WeWork was founded in 2010 and it was valued at $47 billion at its zenith. One of the major reasons why WeWork worked was because of the responsibilities that the business owners can leave out by renting workspaces from this start-up.

However, since the announcement of its initial public offering in August 2019 the company has received a lot of criticism. Furthermore, it also became the victim of humongous losses due to the onslaught of the coronavirus pandemic, post which it was valued at $9 billion. Following that the company postponed the IPO indefinitely and two years later in March 2021, it announced that the company is going with the merger with BoX Acquisition Corp, which is still pending, as of October 2021’s reports.

WeWork – Latest News

October 21, 2021 – WeWork will finally go public. The company is all set to list its shares in the New York Stock Exchange as soon as this week.

October 6, 2021 – WeWork India appointed Megha Agarwal as the new Head of Marketing. Furthermore, it elevated Raghuvinder Singh Pathania to the Head of Community, India, who is also the Head of Operations at WeWork India. Besides, the new role of the Head – Digital Products is handed over to Dharam Mehta.

October 1, 2021 – WeWork launches Growth Campus, which is deemed to work in line with WeWork Labs. With the help of this new initiative, WeWork plans to encourage the world of startup companies to get access to workspaces at subsidized rates.

The Smart Pitching approach of WeWork
Business Model of WeWork
How WeWork is Making Money Through Renting
FAQ

The Smart Pitching approach of WeWork

WeWork has successfully created an image wherein they posed themselves as a technology driven startup even though their basic level rests upon real estate. It is only in the development of a particular workspace that they deploy technology and not necessarily in the ways of doing business in itself.

However, that is not how WeWork portrays itself to the world or to their investors. This is because of the fact that these days technological companies tend to receive funds rather than non-technical ones.

The valuation of the WeWork has proved this correctly. Even though it does not make any profit or have a stable cash flow it is still valued way above its counterparts, whose valuations are not even half of that of the WeWork even though they have better profit and cash flow.

Hence, the way it portrays itself has a significant role in helping the startup to gain value.

Business Model of WeWork

One of the major partners of WeWork is entrepreneurs and small business owners who want office spaces for various purposes related to their organisation at a very cheap rate. Some of these people may not even need the spaces for a long period of time.

WeWork has suitable packages for all these kinds of people. The ones who rent out space from the work need not worry about any kind of bills or maintenance or connectivity. All these are handled by WeWork in itself.

As far as business owners are concerned this in itself is a huge advantage for them. The fact that it will cost more than double of the rent that they have to pay for the work, had they had to set up a workspace like the ones offered by WeWork.

On the other hand, as far as the people who lease these work spaces to WeWork are concerned, they prefer the ways of the organisation. It is because WeWork takes large work spaces for lease for at least 10 years and then they divide them into smaller work spaces and rent it out to other businesses.

Here, the owner will always prefer entering into an agreement with one organisation for a long duration than with multiple small buyers for a short duration of time. This also means that they will be able to keep track of the transactions and focus on other businesses in a better manner. They need not worry about finding a tenant or dealing with too many agreements at the same time.

The requirements of rework and the demands of the lender matches along with the needs of small businesses. In this way all the three partners do their business smoothly in all regards.

WeWork has launched Growth Campus on October 1, 2021, with an aim to encourage the startup ecosystem. The company is starting this new initiative with an investment of around $3 million, as of the latest reports, and will extend its workspaces to budding companies and startups at highly subsidized rates.

Revenue of WeWork

How WeWork is Making Money Through Renting

Although the nuances of WeWork look sophisticated at the end of the day it is an office space renting company. Majority of its revenue comes from renting of spaces to people.

They take in real estate spaces from owners for lease and then convert them into smaller work spaces and common areas. They devise their packages in such a way that it suits all kinds of people.

Sometimes these areas are as small as per room or maybe even a floor. It can also be as large as a whole building in a prime location. Independent freelancers and workers who require office spaces with better connectivity only for a small duration find the services offered by WeWork the most advantageous.

From small businesses to big companies like OnePlus, have rented office spaces from WeWork. The rising of shared office culture was also a great advantage for WeWork and it has undoubtedly contributed to its success.

Conclusion

Over the years WeWork has been experiencing severe losses due to their carefree approach and improper planning. The only reason why WeWork continues to survive is because of its high valuation and funding that it received purely due to the way they portray themselves as a technological company.

They have also tried to expand their niche beyond work spaces. They have a very attractive state of the art architecture in spaces in prime locations which significantly adds to their value and an elite image.

WeWork can at the same time be an example for how a business should put themselves in front of others and also how not one should plan their initiatives. Their strategies and models have got a lot to learn from.

FAQ

How does WeWork make money?

WeWork generates revenue by renting office spaces to businesses and companies.

What is the valuation of WeWork?

The valuation of WeWork is $9 billion, as of October 2021.

Who is the founder of WeWork?

WeWork was founded by Adam Neumann and Miguel McKelvey in 2010.

October 21, 2021
Top 4 Cheap and Better Alternatives of Western Union

In today’s time, sending money has become so much easier than ever before. You don’t have to meet someone or go to an ATM, just open your phone and click “send”. Sounds accurate, right? In a wholesome, Yes, it does sound accurate!

The fun fact is, this smooth service isn’t limited to one’s own country, but to abroad as well. Whenever someone thinks of sending money abroad, they worry about the long hectic process and paperwork. But ever since the digitalization era took over, this has also become pretty simple.

Just like Western Union, which is considered as one of the biggest finance companies that provides the smoothest service of international payments across the world. But there are some pretty cool and genuinely better options available in the market, as an alternative to Western Union.

You can choose the company based on various tactics such as transfer mode, fees, incentives and what kind of currencies it’s specialized in. Analyze the best exchange rate these companies are offering, then select the most suitable International payment provider for you.

To make this more simple for you, we have listed some of the best alternatives of Western Union across the globe. So, let’s get started!

List of top 4 Alternatives of Western Union

Wise
Xoom
PayPal
WorldRemit
FAQ

Wise

Wise Website

Wise was founded in the year 2011 and soon became an ultimate choice for the customers. It eliminated all the conventional sending money methods along with the tight expenses that it would cost.

When they became absolutely frustrated with all the paperwork of sending money abroad, they created Wise. Yes, that’s the actual story!

The company offered its customers the mid-market exchange rates that you can easily find on the Internet. Wise barely charges any amount of fees, but what it does is just one low percentage cost. This shows the exact fee amount to the customers for sending the money.

Moreover, Wise offers the service of borderless multi-currency accounts. This was basically for people who travelled a lot to different countries. Wise provides a free account login for everyone and also, allows the user to store multiple currencies, transfer them across the world and digital account details for receiving money locally in the United States, Australia, Europe and the United Kingdom.

Xoom

Xoom Website

Xoom is a PayPal company that provides the service of sending money very easily digitally directly to the bank account or can be added to the cash collection. Xoom supports multiple currencies across the world and the user can easily send money to different countries.

Xoom charges minimally on its transactions. And it entirely depends on where you are sending the money or your method of fund transfer.

When you use a card for your abroad transactions, it becomes really expensive but with Xoom (through PayPal) balance or the bank account which is linked to it, it’s quite cheaper.

PayPal

PayPal Website

Click here to Try Paypal now!

We all are familiar with the functioning and popularity of PayPal, especially for those who love to shop online. PayPal offers the users one of the best services to send money overseas.

For getting on with PayPal, the user, as well as the receiver, will require a PayPal verified account, where you will find a wide range of fee options that you can choose based on your preferences.

However, for sending money abroad, PayPal does charge higher as compared to the general domestic transactions.

WorldRemit

WorldRemit Website

WorldRemit has widely counted among the best alternatives of the Western Union. The company supports a huge range of currencies across the world and makes the process of sending, receiving, transferring and payment absolutely smooth and simple. It is very quick with its services and every transaction.

However, WorldRemit does have a small daily limitation on transactions which is around $9,000. For WorldRemit, you can pay with any method you prefer, for example, Bank transfer and Credit card.

Conclusion

In the end, we conclude that there are some pretty amazing companies out there in the market with great customers’ bases for sending your money abroad more smoothly.

People often choose such a company also as they consider it the safest and the best option possible. But you also know that’s not entirely true. Being a millennial, it’s important for you to seek more fluent ways to send money abroad. Stay tuned for much more similar content.

FAQ

What are some of the alternatives of Western Union?

PayPal, Wise, and Xoom are some of the alternatives of Western Union.

Who are the competitors of Western Union?

Western Union’s top competitors are Worldline, Wise, Ebury, Flywire, American Express, PayPal and MoneyGram.

How much is Western Union fee?

The transfer fee of Western Union is $4.50 to transfer up to $50 and $9.50 to send up to $900.

October 20, 2021
Startups Funded by Accel Partners | Accel Funding
Funding is the money that new enterprises require to operate and achieve their objectives. Funding can come from a variety of sources, but investors are the most common. When investors put money into a company, they want it to succeed and make a lot of profit so that they can get their money back.

There are different types of investors out there like angel investors, personal investors, peer to peer lenders, venture capitalists and so on. There are major corporations that invest in startups and subsequently profit from their profits. It is a win-win situation for both parties.

Accel is one such company that invests in new businesses. It is well-known for its investments in IT firms, software, and internet enterprises. In this article, we’ll talk about Accel-backed startups.

Startups Funded by Accel Partners
1. Facebook
2. Supercell
3. Rovio
4. Etsy
5. Flipkart
6. Swiggy
7. Urban Company
8. BlackBuck
9. Freshworks
10. Money View
Conclusion
FAQs

Accel Partners fund

Startups Funded by Accel Partners

Facebook

In 2004, Facebook was just a social networking site Mark Zuckerberg launched in his dorm room at Harvard. In its initial days it was just a website for college students to connect to each other and later got spread to other colleges and universities as well. It received funding from Accel in 2005 and it got what it needed and went public in 2012. It became great news as Facebook is now worth US$159.32 billion (2020) and Accel gained a lot of profit from their investment and set an example for the others. Accel and Jim Breyer which is an American Venture Capital company and a partner of Accel owns 11.4% i.e. US$11.4 Billion.

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Supercell

Launched in 2011, Supercell has since released a lot of successful games like Clash of Clans, Boom Beach, Hay Day. These games have millions of active users and daily logins. When Supercell was a small, pre-launch game studio switching from Facebook games to focused on upcoming mobile platforms in 2011, Accel led its Series A investment. Softbank bought a majority stake in the company in 2013, which was then sold to Tencent in 2016.

Rovio

Rovio is a Finnish games-first entertainment company that designs, distributes, and licenses mobile games as well as works as a brand licensor in a variety of entertainment and consumer product categories. The Angry Birds brand, which began as a successful mobile game in 2009, is the company’s most well-known product. In October of 2017, Rovio went public on the Helsinki Stock Exchange. Accel funded with Series A in 2011 and then in 2017.

Etsy

Etsy is a website where entrepreneurial craftsmen, artists, and collectors may sell vintage, handcrafted, or custom-made jewellery, apparel, home décor, art, toys, and other items. Etsy is funded by 19 investors and one of them is Accel. The initial investment was done in January 2008, with follow-on investments in 2010, 2012 and an IPO in 2015.

Flipkart

Flipkart was created in 2007 by Sachin Bansal and Binny Bansal with the goal of introducing contemporary retail to India’s growing middle class. Initially focused on online bookstores, the company has expanded to include a wide range of products as well as its own nationwide logistics centres and delivery fleets, assuring a high-quality, end-to-end shopping experience for all customers. When Sachin and Binny were operating the company out of their apartment in 2009, Accel led the first-ever investment in Flipkart. Accel was a part of every succeeding fundraising round, and Flipkart was acquired (majority interest) by Walmart in 2018 after transforming India’s domestic consumer retail business in less than ten years.

Swiggy

Based in Bangalore, Swiggy is India’s most popular food delivery service. In addition to essentials, the company has created a general product delivery system, with a poppy orange, proprietary delivery fleet that sets it apart from other food delivery platforms. Accel first funded a Series A, B, C in 2015 and then a Series D in 2016 and Series E in 2017.

Urban Company

Urban Company, which was founded in 2014, has grown to become India’s largest at-home services marketplace. Users can connect with skilled and experienced service experts through the all-in-one platform. Accel first funded in 2015 and then in 2017.

BlackBuck

Founded in 2015, BlackBuck has become India’s largest trucking network by redefining the logistics of matching shippers with trucks in an organized and transparent way. The freight and services platforms deliver reliability, efficiency, and a seamless experience – whether it be matching a shipper with a truck, facilitating digital payments, or helping truckers manage their fleet effectively. The unique vertically integrated model is rapidly digitizing the entire online ecosystem of trucking in India. Accel gave it two investments in 2015, one in 2017, and one in 2019.

Freshworks

Since 2010, the company, then known as Freshdesk, has been at the forefront of democratising CRM software. Freshworks was renamed in 2017 to better reflect the company’s integrated array of SaaS products. The unique customer engagement software has become the trusted CRM for organisations of all sizes because it provides a ready-to-use, easy-to-setup and use solution. Accel was the first investor in the company, making the first investment in 2011, and has been a part of every subsequent financing round.

Money View

Money View offers no-collateral personal loans in a matter of hours. Money View’s loan application procedure is totally digital, from application to disbursement. The app allows you to maintain track of your loan’s progress, comprehend verification information, and receive notifications about forthcoming EMI payments. Accel invested in Money View in 2014.

Conclusion

Money is one of the most critical aspects of a new business. Without finances, a firm cannot start and acquire all of the other resources required to run and profit. Accel gives innovative enterprises with the capital they require to realise their objectives and turn a profit. It’s a terrific way for both sides to make money since as the business expands, so does the income.

FAQs

Who is the founder of Accel?

In 1983, Jim Swartz and Arthur Patterson co-founded Accel.

Who is the CEO of Accel?

Tara Abraham is the CEO of Accel.

How do you approach an Accel partner?

You should approach Accel with a brief overview of your project if you want them to invest in it. If your project is judged to be a good fit for Accel’s portfolio, you will be called for a more in-depth discussion.

What are the accel partners funded companies?

Accel partners has funded in many companies. Some of the companies tha are funded by Accel partners are:
- Facebook
- Supercell
- Rovio
- Etsy
- Flipkart
- Swiggy
- Urban Company
- BlackBuck
- Freshworks
- Money View
October 20, 2021