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Are you also a sports lover? If so, you might have also felt the need to have a platform that could do it all for the player within you. To bridge this gap in the Indian Sports sector, Shashank Mishra founded SportsApp in the year 2018.
SportsApp is an aggregated platform that allows athletes, coaches, sports academies and sponsors to get connected on a single platform. Everyone on the SportsApp team played sports at different levels and felt the pain that most players had right now. So, the main idea is to bind everyone together so that they can make this nation a good sporting nation by organizing this sector.
Launched in March 2018, SportsApp has seen the growth of 20X in downloads, 56X in MAUs and 80X in DAUs. Interestingly, the startup clocked an impressive 4X scale-up in revenues during the pandemic year of 2020-21 FY. Know all about the Startup Storyof SportsApp in the post ahead.
Get Sponsorship, Jobs and Sports related news on SportsApp
SportsApp is a platform for connecting sports professionals as well as sports academies and sponsors. The idea behind SportsApp is to create a portal in which all the stakeholders in the sports industry can connect. SportsApp is curbing the information gap, visibility gap and funding gap for sports stakeholders in India.
The SportsApp team believes that there are three things that are coming in a way to make this nation a better sporting nation:
Information gap: Not having enough information on different events like trials, training camps, inadequate information about their favourite sports, lack of information of good coaches nearby the required areas and also of corporate sponsors who are looking to fund athletes.
Visibility: Player visibility is the main issue in India. Even after winning big events, most players are not known to many. Sports academies in India do not have visibility initiatives to connect with players, their parents, coaches, etc.
Funding:Financial constraints for players are a big hurdle in their way to pursue a career in sports. There is no portal where these players can connect with corporate sponsors for funding.
SportsApp connects all the stakeholders of the sports industry in India. Here they can follow one another, share relevant thoughts, get updates about upcoming events, sports job positions, apply for sponsorships, etc.
SportsApp – Industry Details
The sports culture is coming to India. We are a nation of 1391 million people. Out of which 30-50 million are actively engaged in sports and want to make a career in sports. This is the ideal time for sports technology and fitness startups to enter the market as the government is coming forward with its initiatives to increase awareness among sports youth.
SportsApp – Founder and Team
Shashank Mishra is the founder of SportsApp.
SportsApp Founder – Shashank Mishra
Shashank met Himanshu at Delhi Technological University and explained to him the full concept. In no time, Himanshu joined Shashank’s initiative. The SportsApp team comprises of:
Shashank Mishra (Founder & CEO) (BTech & MBA)
Himanshu Nain (Head of Technology) (BTech)
Prashant Chandra (Head of Marketing and Sales) (BTech & MBA)
Mohit Prakash Yadav (Head of Operations) (B.Sc & MBA)
Deepak Kadian (Head of Design) (BTech)
SportsApp Team – Himanshu Nain, Mohit Yadav and Deepak Kadian (Top L to R), Shashank Mishra and Prashant Chandra (Bottom L to R).
How SportsApp Started?
The idea of SportsApp struck Shashank when he was in his final year of BTech. Turns out he was attending a sports academy that reminded him of going to another city to get some information about the great academies of his time. Until now, there is no portal where one can get sufficient information easily and register for it. After BTech, Shashank joined B-School where he participated in a startup event powered by Google and backed a runner-up position. So, this fueled him up to bring this idea on road, as sports has always been his passion.
Sumeet Kapur (Co-Founder & Former CFO of Nearbuy) was the first one who believed in this idea and Sumeet has been Shashank’s mentor so far. Also, after this event, Sumeet happened to be the first investor in Shashank’s startup. Post this, Shashank started doing market research by visiting different sports academies, meeting different coaches, visiting Delhi University to meet national-level players.
Everyone liked the concept and said they need a product like this. So he started designing the prototype. He then started looking for a tech co-founder at Delhi Technological University where he met Himanshu (Co-Founder SportsApp) who helped him in building this product with his efficient technical skills. Following the launch of SportsApp, Shashank was selected as an incubator at the Center for Innovation and Incubation (IIF) of the University of Technology in Delhi and was initiated by the Delhi government.
SportsApp – Logo and Tagline
SportsApp Logo
The tagline “Empowering the sports star of tomorrow” says that the SportsApp gives the power to future athletes to do better in the sports ecosystem.
SportsApp – Startup Launch
After developing the application, Shashank launched SportsApp in an event called “Aahvaan”, a sports event in Delhi Technological University. And it is also the largest sports festival in North India. SportsApp had more than 200 registration on the launch day.
SportsApp is a networking portal so they focused on serving the first 500 people well in the network. The idea behind this was to trigger the contagious effect. They have partnered with many sports academies, Coaches in Delhi- NCR region and have got them on board.
SportsApp – USP
SportsApp has created a unique financial logic that provides players with their market value and they connect players with corporate sponsors after verifying them on the app. This way corporates also get to see the profile of the player which is fully verified and with proper analytics.
SportsApp – Business Model and Revenue Model
The SportsApp business model looks something like this:
Talent Solution: In this, the application connects players with corporate sponsors using their unique valuation logic. SportsApp charges a commission on the athlete’s side for this service.
Market Solution: SportsApp also generates revenue from making bookings for academies, events, etc. and by promoting sports academies on SportsApp to get more leads for the academies. Corporates can also promote their sports products on SportsApp.
Subscription: Users in the future can subscribe to the app to use more features.
One of the major challenges faced by SportsApp is that this sector is totally unorganized so it’s very hard to change people’s mindset and make them understand that this can help them in a better way rather than the traditional approach that they are following. The main problem is that they are very much comfortable with the traditional way of doing things.
SportsApp – Funding and Investors
SportsApp has raised a total of $174K in funding over 3 rounds. Their latest funding was raised on Aug 20, 2020, from a Seed round.
Date
Stage
Amount
Aug 2020
Seed Round
$140K
Jul 2019
Angel Round
$30K
Sept 2018
Angel Round
$4K
SportsApp had backed angel round funding from Sumeet Kapur (Co-Founder & Ex-CFO of Nearbuy). This helped the startup to develop the product and to launch it in the market in a better way. Also, the angel round funding helped them in getting market validation initially. SportsApp has also raised seed round funding from Shubhrendu Khoche (Ex-VP Mastercard) who is a Singapore-based angel investor.
Noida-based startup SportsApp raised $140K in a seed round led by noted names like Shubhrendu Khoche, Anirban Basu, Sanjay Ahuja, Ram Ganesan and Kuldeep Puri, among others.
This unique startup which primarilyaddresses the aspiring sportspersons of India uses a proprietary tech platform to solve the asymmetric access to “Community, Sponsorships, and Career.”
SportsApp has seen the growth of 20X in downloads, 56X in MAUs and 80X in DAUs. Interestingly, the startup clocked an impressive 4X scale-up in revenues during the pandemic year of 2020-21 FY.
Revenue INR 18 lakhs for 2019.
Clients- Cosco, NFSportech, SteelBird, Wellcure, Alcis Sports to only name a few.
SportsApp – Competitors
Though the sector is unorganized still there are quite a few players in the market who roundabout operate in the same target market. There are startups like RunAdam, SportsBrick to name a few. They all might have different unique selling propositions but they cater to the same audience as SportsApp.
SportsApp – Future Plans
SportsApp has set its eyes on capturing 60% of the market share in the coming 5 Years. The company aims to have all kinds of sports sponsorship, ground bookings, event registrations to be done on SportsApp. They are on their way to breaking all the traditional ways which are being used until now and are moving towards making India a better sporting nation.
SportsApp – FAQs
What is SportsApp?
SportsApp is an app that allows athletes, coaches, sports academies and sponsors to connect on a single platform.
Who is the founder of SportsApp?
The SportsApp founders are Shashank Mishra and Himanshu Nain.
Is SportsApp an Indian company?
Yes, SportsApp is an Indian company headquartered in New Delhi.
What facilities I can avail of in SportsApp?
You can connect with Coaches, Fellow Athletes, Physios, Nutritionists and other Industry Professionals via instant messaging.
You can put up your sports-related queries which are then answered by Senior Coaches, Veteran Athletes and Similar Professionals, from the industry.
You can receive updates for job openings within the sports industry.
You can get regular updates on sports events happening near you.
You can also apply for sponsorship.
How does SportsApp make money?
Generally, free apps use these strategies to make money – Advertising, Subscriptions, Selling Merchandise, In-App Purchases, Sponsorship, Referral Marketing, Collecting and Selling Data, Freemium Upsell, Physical Purchases, Transaction Fees, and Crowdfunding.
Xiaomi Corporation is a Chinese gadget manufacturer established by Lei Jun in 2010 and headquartered in Beijing. Xiaomi makes and puts resources into cell phones, versatile applications, trimmers, headphones, television, and numerous other products. Ranked 468th, Xiaomi was the most youthful organization on Fortune Global 500 List of 2019.
Xiaomi launched its first cell phone in August 2011 and quickly picked up a piece of the overall industry in China. It became China’s biggest cell phone organization in 2014. At the beginning of the second quarter of 2018, Xiaomi was the world’s fourth-biggest cell phone manufacturer. Xiaomi later built up a more extensive scope of hardware catalog, including a brilliant home (IoT) gadget ecosystem.
Xiaomi has 15,000 employees in China, India, Malaysia, and Singapore; it is now expanding to different nations like Indonesia, the Philippines, and South Africa. According to Forbes magazine, Lei Jun, the CEO of Xiaomi, has more than $12.5 billion in assets.
Lei Jun is China’s eleventh most extravagant individual and 118th in the world. Xiaomi is the world’s fourth most important innovative startup in the wake of getting $1.1 billion subsidizing from financial specialists, pegging Xiaomi’s valuation at more than $46 billion.
Xiaomi was founded in April 2010 by Lei Jun. MIUI, the ROM made by Xiaomi, turned into an immense achievement and has been ported to numerous gadgets. Since 2014, MIUI can be downloaded and installed in more than 200 gadgets in both English and Chinese. By the end of 2013, Xiaomi had more than 30 million MIUI clients around the world, an impressive figure for a youthful organization.
The MIUI ROM isn’t as user-friendly as Apple’s iOS and gives modern administrations, for example, cloud reinforcement, simple to utilize music player, and an application store. The group at Xiaomi joyfully takes on fan criticism using numerous channels and updates the ROM regularly with bug fixes, improvement, and extra highlights.
In 2011, Xiaomi launched the Mi One phone. Xiaomi just doesn’t make its own product, but it fabricates its own equipment. The Mi One was a top-spec phone with signigicant features.
While commentators rush to call the Beijing-based organization “The Apple of China”, Xiaomi likes to contrast itself with Amazon. Xiaomi makes ground-breaking equipment which it sells and depends on administration and substance to make up a greater part of its income.
Xiaomi Ceo – Lei Jun
Xiaomi’s income in 2013 alone was over $5 billion, very noteworthy for a young organization. There are comparisons between Xiaomi and Apple as both are equipment and programming organizations, both have solid power over stock-chains, and both have a hot fanbase.
Aside from this, the two organizations don’t share anything else practically. Apple prices its phones at unbelievable costs and doesn’t take on a lot of client input, whereas Xiaomi is polar opposite.
Xiaomi dispatched 7.2 million phones in 2012 and 18.7 million phones in 2013. It even sold more than Apple in one quarter. In the principal quarter of 2014, Xiaomi sold over 11 million phones, more than what it sold throughout 2012.
The demand for Xiaomi keeps increasing because of the good-of its gadgets and the economical price at which its products are sold in universal markets, for example, Hong Kong, Taiwan, and Singapore.
Hugo Barra (ex-Google android official) has been tasked with the job of overseeing Xiaomi’s expansion beyond China. Malaysia, Philippines, Thailand, Indonesia, and India will see Xiaomi phones straightaway.
Xiaomi had some wonderful achievements in its third entire year as a device creator. The Company is on course to sell 60 million phones this year, and it has ensured footed (if rather moderate) strides into various markets in Asia, for example, Indonesia and India. The organization’s development is amazing given the the variety in its product catalog aside from phones.
An ongoing social marking report on Xiaomi by Resonance China dissects an enormous assortment of the startup’s procedures and shows how pleasantly they are working out.
Xiaomi’s Business Model
The business strategies are described below:
Xiaomi – A Web-Based Business Organization
Business visionary and Xiaomi prime supporter Lei Jun states Xiaomi as a web-based business organization—one of the numerous reasons he loathes the successive examinations among Xiaomi and Apple. They feel a comparison with Amazon is more relevant. Xiaomi has its e-store and has a customer-facing facade on Alibaba’s Tmall. The numbers back up Lei Jun’s case.
Xiaomi’s site is the third biggest business-to-customer (B2C) internet business store in China in terms of deals volume (behind Tmall and nearest rival JD). On China’s Singles Day on November 11, a business bonanza saw $9.3 billion spent on Tmall; and Xiaomi was the top brand on Alibaba’s commercial center that day.
Xiaomi sold 1.2 million telephones during the 24-hour deals occasion, piling on, alongside offers of some different devices, RMB 1.56 billion ($254 million) in items sold.
Xiaomi by and large sells its gadgets in constrained glimmer deals, ordinarily in clusters of around 50,000 to 100,000 in China and bigger sums abroad. Thus, Xiaomi fabricates only what is certain to sell.
The upstart organization’s attempt to close the deal doesn’t stop once somebody has purchased a phone. New clients find that their phone includes a pre-installed Xiaomi store application.
Most device brands use their landing pages as showrooms or celebrated online adverts. Xiaomi gets to the point by making its landing page into an unadulterated web-based business store.
Xiaomi’s e-store is updated every day to put an accentuation on which items are next accessible in its progressing streak deals. “Xiaomi’s item pages copy best practices from Tmall,” says Rand Han, the organizer and overseeing chief of Resonance China.
Tmall is China’s greatest image-arranged online commercial center with a huge number of merchants, for example, Uniqlo, Costco, and Burberry. That makes Xiaomi’s site design recognizable to the huge number of customers on Tmall and other mainstream online business locales in China.
It has the typical tabs to switch between pictures, details, and purchasers’ audits and appraisals. Apple’s site isolates all that stuff into the Apple Online Store, whereas Xiaomi keeps it upfront.
Uses Another Sort Of Social Trade
Since Xiaomi generally sells its phones over the web, online networking is significant. It does this in China, for the most part, using Weibo, and in new markets, Xiaomi uses Facebook, Twitter, and Google+.
On Weibo, Xiaomi regularly observes commitment levels well more than 60%, as per the Resonance China report, on account of incessant everyday posts on an amazing assortment of themes.
Not exclusively is there the standard buzz for items and news about glimmer deals, yet also motivating forces for retweets, how-to aides, and fun things like photograph challenges. Xiaomi’s Weibo will likewise retweet some popular substance significant to its users by circumventing China’s web. The retweet also binds into social issues around contraptions and innovation.
Each Item Range Has A Social Center
Xiaomi has 10 primary Weibo accounts, the most prominent of which is the Xiaomi Mobile Weibo with near 11 million fans; the latest account for the MiPad has crossed 500,000 followers.
Xiaomi’s corporate Weibo account has 4,000,000 adherents, demonstrating that individuals would prefer to communicate online with contraptions (as it were) as opposed to an organization.
Notwithstanding Xiaomi’s social records, the company’s administrators are likewise active on Weibo and fill in as brand representatives. Lei Jun has more than 11 million supporters, while Lin Bin has more than 4,000,000.
Consistent Shortage
Xiaomi’s glimmer deals help it get control over stock and lessen wastage, staying away from the sort of over-creation calamities seen as of late with Amazon’s Fire Phone and Microsoft’s Surface RT.
Xiaomi’s online life accounts, especially on Weibo and WeChat, play a key job in driving individuals to the enrollment page for each new blaze deal.
At that point, when a glimmer deal is finished, Xiaomi uses “fast sell-out” stats in further online networking postings; for instance, 50,000 Mi4 cell phones sold out in only 25 seconds. Not every person invites streak deals. The procedure is unquestionably much more mind-boggling than the typical snap-and-checkout on most online business locales.
The framework appears to have met with more analysis outside of China than it has in Xiaomi’s home country. When Xiaomi propelled in India in September, it confronted a reaction as interest exceeded supply by a factor of two-to-one, bringing about a rush of baffled and disappointed remarks on the brand’s Facebook India page. Notwithstanding those disadvantages, new phone manufacturers are imitating Xiaomi (OnePlus) using blaze deals.
For Apple, premiums start at about $700. For Samsung, it’s about $600. However, Xiaomi slashed it in half in 2011 by offering phones premium specs (yet a simple, blocky structure) at low prices – just $325. Xiaomi has also increased its equipment configuration game with the goal that the feel of the phone doesn’t contrast with the amazing specs.
Enlivened by Apple, Xiaomi instructs purchasers on its plan reasoning, underscoring attention on straightforwardness and usefulness in its items. Xiaomi’s very own rendition of Android, called MIUI, has additionally assisted with this superior feel as it is more preferred than most of the Android skins out there.
Runs Its Locale
Alongside its cautious online networking stratagem, Xiaomi is likewise starring dynamic in running its locale gatherings, or BBS. This is the place the brand’s most bad-to-the-bone fans, named “Mi fans,” meet to examine devices, share information, and by and large hang out.
This is something regular to Chinese organizations, yet to a great extent unused by significant brands abroad. Xiaomi’s BBS has 30 million enrolled clients and sees 579,000 new posts day by day.
Q2 of 2018 saw Xiaomi a 152% hop in its abroad income which is esteemed at about Rs 16,700 crores. The internet services help Xiaomi get a net benefit of around 60%. At the point when it at first began its tasks in India, Xiaomi profoundly relied upon informal publicizing to spare any kind of overhead cost.
This enabled the Chinese giant to sell its items (cell phones particularly) at a lower cost than its rivals. Xiaomi was able to pull in more clients as a result. More procurement implies more clients who use Xiaomi gadgets.
Some of its clients will, in general, become faithful to administrations like the MIUI, Mi Store, and so on. This is what Xiaomi needed ever since it began manufacturing phones. Selling the best of equipment at a lower cost and creating a dedicated fanbase is Xiaomi’s plan of action.
Xiaomi’s Smartphone Sales
Things weren’t, however, that simple for the Chinese company. After an underlying lift to its cell phone deals, Xiaomi went down in positioning not long after players like Oppo, Vivo, and Huawei (with Honor) overwhelmed the phone space through disconnected streams. Even though Xiaomi was the pioneer in the online space, individuals still favored purchasing phones physically.
Therefore, Xiaomi started to grow its disconnected nearness by opening Mi Home stores and joining hands with the neighborhood merchants. Opening Mi Home Stores achieved two targets:
Xiaomi now had one more channel to sell phones.
People visiting the Mi Home Stores would regularly wind up purchasing different extras like power banks, earphones, and other accessories fabricated by Xiaomi.
Business Growth Of Xiaomi Corporation
In the second quarter of 2021, Xiaomi’s total revenue amounted to RMB 87.8 billion. Xiami has recorded an increase of 64.0% year-over-year. It adjusted net profit for the period was RMB 6.3 billion.
The Chinese have a fixation with establishing world precedents. So when Xiaomi propelled 500 disconnected stores in India in October, 2019 at the same time, it registered a global record to its name. For a brand that has greatly depended on web-based blaze deals, opening so many stores was a new strategy.
Internationally, cell phone shipments declined 4.1% in the last quarter of 2018, topping off the “most noticeably awful year ever” for cell phone shipments as reported by industry tracker IDC. Be that as it may, India hasn’t seen any stoppage.
In 2018, almost 142.3 million cell phones were dispatched in India. That implies a development of 14.5% over the earlier year. Among the cell phones sold in India, Xiaomi has seen significant strides with a 58.6% year-on-year increment in unit deals in 2018 to capture a piece of the overall industry at 28.9% (IDC stats).
It has been in the Indian phone market for just four years but has overtaken Samsung. The latter has a 22.4% share of the overall industry. India represents more than 33% of Xiaomi’s cell phone deals all around.
In 2018, Xiaomi India booked an income of Rs 23,000 crore ($3.24 billion), a 174% development over the earlier year, selling telephones valued at a normal price of $142.53. Samsung’s cell phone business in India rounded up about Rs 37,349 crore ($4.82 billion) in a similar period, up 9% from the prior year.
The South Korean organization’s phones are valued higher with the catalog starting at $250.
Xiaomi’s Full Year Revenue
In 2016, Xiaomi propelled the RedMi Note 3 and the RedMi 3S — both selling like hot cakes and helping the organization cut into the offers of Indian makers such as Micromax and Lava.
Xiaomi presently sells disconnected in more than 40 urban communities and has more than 4,000 favored accomplices who sell Xiaomi phones. It likewise propelled enormous organization retailers that year through Sangeeta, Poorvika, Croma, and Reliance Digital. The third mainstay of the organization’s disconnected procedure was propelling Mi Home stores, which only sell Xiaomi gadgets.
One aspect that has worked very well for Xiaomi is the organization’s evaluating procedure. Xiaomi co-founder Lei Jun broadly said a year ago that the organization could never make over 5% edges from its equipment portfolio, adjusting the organization to its vision of going past being an equipment creator.
“India is very value touchy and almost (every) client survey of the Xiaomi telephone will say that it is useful at the cost,” says Vijay Raj, a Bengaluru-based blogger and analyst.
It’s not just about making modest smartphones. There’s likewise something exceptionally shrewd affecting everything here. As a Harvard Business Review article brings up, Xiaomi keeps its models in the market longer than other telephone producers.
So when segment costs fall, Xiaomi makes a benefit. A half-year prior, it posted a $2.1 billion benefit for its first quarter of business as a traded-on-an-open market organization.
According to one gauge, Xiaomi’s MIUI has around 70 million month to month dynamic clients. That makes it a ground-breaking conveyance stage. “They would need to investigate what we can do to make extra dollars of it,” says Kawoosa of TechArt. Xiaomi is making Rs 40-45 for each client for each month, he says.
MIUI was one of the earliest cell phone working frameworks making use of locally available infrared blaster to control apparatuses at home. It additionally presented clever highlights that make it simple for clients to duplicate one-time passwords for online exchanges and organize train booking affirmation messages to conspicuously show the PNR number.
Xiaomi’s Vs Other Brand Growth
Xiaomi likewise lets clients arrange two WhatsApp numbers on the same phone.. Xiaomi, generally speaking, has an arrangement of more than 200 items — extending from a pen to a cleanser gadget to consoles and PCs — a catalog created through its “biological system accomplices.” Most of these aren’t sold in India yet.
The organization plans to get as many brilliant gadgets as reasonably possible on a typical Internet of Things platform it calls the “Mi Home application”. The primary classes in India are presently telephones, TVs, control banks, sound, wearables, and air purifiers. In September, Xiaomi propelled a home surveillance camera.
During his visit to India, Xiaomi’s Founder and CEO Lei Jun discussed the organization’s arrangements, techniques, targets, and a few indications on the upcoming product offerings for the Indian market. Here are some key highlights of his discussion:
Plans To Expand Disconnected Piece Of The Pie
“If we see by and large market, online is a little piece… so it’s somewhat reliant on what number of individuals embrace the Internet. In China, after we have accomplished such a scale (in the online market), the test is how we can accomplish the equivalent in disconnected with effectiveness.
In India, after we accomplished over half piece of the pie in online space, the inquiry is how to do likewise in disconnected,” Jun said.
New Assembling Plant
Xiaomi recently enlisted a assembling plant in Andhra Pradesh and guaranteed that over 95% of its phones for the Indian market would now be produced locally. As indicated by this ET report, the organization may even take a gander at sending out Indian produced phones later on.
The cell phone producer as of late guaranteed that it has crossed $1 billion in income from its India operations. Xiaomi makes money by selling phones, wearables, frill, air purifiers, and so on.
In Q4 2016, Xiaomi was the second biggest merchant in India as far as phone shipments were concerned, as indicated by IDC. The organization’s Mi Band shipments additionally represented 10.3% of the Indian wearables market in Q2 2016.
More Stockrooms And Administration Focuses
The organization is additionally setting up a third distribution center in Delhi NCR and plans to twofold its administrations focus check from 250 to 500 by the principal half of this current year.
Note that Xiaomi has its web-based business store named mi.com in India. In July 2015, Xiaomi declared that it would also put in resources for setting up a claim distribution center and coordinations.
Plans To Enter The Money Related Division
As disclosed to The Hindu, Xiaomi will dispatch another arrangement of items, although Lei Jun didn’t mention what sort of items they would be. Jun additionally implied that the organization is keen on venturing into the money related segment in India.
We are investigating the probability of giving budgetary administrations in India. Be that as it may, this part is exceptionally managed. It requires various licenses. If we could get such licenses, we are glad to be a piece of this monetary administration’s development in India.
We have to comprehend if there are confinements on remote substances,” Jun says. Xiaomi additionally has an installment administration called Mi Pay that is only accessible in China at the moment and has tied up with Bank of China and Union Pay, a card arrange in China.
On Creating New Openings And Income Targets
Jun likewise talked about how the organization focuses on making 20,000 new openings in the following three years by venturing into disconnected retails, assembling, and dissemination. Addressing ET, Jun said that the organization plans to create near $15 billion in general income by concentrating on developing markets like India and Indonesia.
FAQs
What is the origin of Xiaomi?
Xiaomi was established in April 2010 by Lei Jun and headquartered in Beijing, China.
Who is the founder of Xiaomi?
Xiaomi was founded by Lei Jun, Lin Bin, Zhou Guangping, Wong Jiangji, Wang Chuan, Liu De, Li Wanqiang, and Hong Feng.
How does Xiaomi make money?
Xiaomi makes money by selling phones, wearables, frill, air purifiers, and so on. In Q4 2016, Xiaomi was the second biggest merchant in India as far as phone shipments were concerned, as indicated by IDC. The organization’s Mi Band shipments additionally represented 10.3% of the Indian wearables market in Q2 2016.
What makes Xiaomi unique?
Its varied and unique ecosystem of products and the different way of marketing makes Xiaomi Successful and unique from others.
Is Xiaomi trusted brand?
Xiaomi Corporation is a trusted Chinese gadget manufacturer established by Lei Jun in 2010 and headquartered in Beijing.
Why Xiaomi is successful in India?
Xiaomi propelled 500 disconnected stores in India in October at the same time, it registered a global record to its name. For a brand that has greatly depended on web-based blaze deals, opening so many stores was a new strategy. Internationally, cell phone shipments declined 4.1% in the last quarter of 2018, topping off the “most noticeably awful year ever” for cell phone shipments as reported by industry tracker IDC. Be that as it may, India hasn’t seen any stoppage.
Is Xiaomi and Huawei same company?
No, Xiaomi Corporation is a Chinese gadget manufacturer established by Lei Jun in 2010 and headquartered in Beijing, While Huawei is another multinational company of China and a competitor of Xiaomi.
Cryptocurrency is a digital or virtual form of currency that is secured through cryptography. Cryptocurrencies are not issued or regulated by any central authority or bank, hence making them immune to any international interference or manipulation. They are distributed over a wide network of computers and are regulated through Blockchains for record-keeping, tracking and maintaining their integrity.
In other words, Cryptocurrency is a more secure method of making online payments through denominations in the form of virtual tokens. They are encrypted with various algorithms including elliptical curve encryption and public-private key pairs with various functions and specifications. With the success of Bitcoin, one of the most popular cryptocurrencies today, many new cryptocurrencies have emerged including Litecoin, Peercoin and Namecoin.
What is Blockchain?
A Blockchain holds the information of cryptocurrency transactions, and updates it regularly over 100 times a day, to keep the record fresh. Blockchain holds information in groups with limited storage capacities, and once these blocks are filled, they are attached to the previously existing chain of blocks, making it a Blockchain. Therefore, when a block is filled, it becomes part of a timeline with a timestamp and added to a chain of decentralized nature.
In terms of security, a blockchain is extremely secure. Each block in the chain has a position referred to as its ‘height’, and once a block is assigned a particular height, the records become extremely difficult to alter.
Since each block has a hash, the hash of the block preceding it, and a timestamp, altering a single copy of blockchain does no good. Moreover, it would take alteration of more than half of the Blockchain copies to steal any Bitcoins, which again cannot go unnoticed, making Cryptocurrencies extremely secure.
What is a Blockchain Website?
A Blockchain website helps you store, trade, and buy cryptocurrencies such as Bitcoin and Peercoin. You can monitor your current repository, cryptocurrency worth, and other real-time information with the help of a blockchain website. Some of the most popular Blockchain websites include blockchain.com, which currently stores the information of 65 million wallets, and has facilitated transactions worth $620 billion as of now.
Although building a Blockchain website or an application is far from a trivial task, and a piece of extensive programming knowledge and skills would be a prerequisite, there are some platforms where you can build such websites without having to code.
These platforms offer users an easy-to-use interface, preferably drag and drop, to add sections and segments of the website, and add all the functionalities to build and manage decentralized currencies and projects.
Top No Code Blockchain website builders
1. Abriged
Abriged Website
Abridged is a platform to build decentralized projects with efficient teamwork and collaboration, and that too without coding. It is an efficient and user-friendly blockchain application development platform, that facilitates the use of blockchain and crypto. Teams and organizations can even create advanced applications using Abridged, using its SDK. Abridged focuses on a design called Incremental Decentralization, meaning more centred on custodial fund ownership.
Features Offered by Abridged
One of the best features of Abridged is that it does not require the user to have any coding skills, and the application can be built by a simple drag and drop interface.
The websites and applications built by Abridged are mobile-friendly, thus enabling users to operate the website or application even on their mobile phones.
Features and applications of Abridged can be used by any number of communities, individuals, and groups without any code.
The transactions of users using applications built by Abridged are seamless and fast, without having to face network delays.
Abridged applications can also be used to integrate with third-party applications and APIs.
2. OpenST
OpenST is a platform, that helps make cryptocurrency and the concept of Blockchain. The concept of decentralization is the basis of cryptocurrencies and their security and forms the fundamentals of Blockchain. Simply put, if you have the key, you own the data. OpenST hence works on Utility Tokens, Wallet Recovery, OST chain and OpenST platform. It uses the GitHub platform to make any changes to the existing code on any one of these platforms.
Conclusion
Cryptocurrency and Blockchain technology, however complicated, seems to be moving ahead with pace and is a promising one at that. Its secure nature and the fact that it isn’t influenced by government policies have the ability to make it big in the future of trade and commercial transactions. Also, having a firm grip on Blockchain technology may prove to be useful, and although the conventional method requires the users to know to code, the no-code platforms mentioned above are equally plausible.
FAQs
What is no-code web development?
No-code development is a type of web development that allows non-programmers and programmers to create software using a graphical user interface, instead of writing code.
How do you create a no-code platform?
To build features in a no–code platform, all you have to do is – drag, drop, and assemble, as everything has already been developed or visually modelled.
Is WordPress no-code?
Not necessarily. In other words, building a WordPress site is mostly a code-free experience. However, if any changes are made to the structure, styling, or even padding on a template, coding will be required.
Are no-code apps good?
Yes, no-code apps are good, as it is easy to use and allows non-programmers to pump out apps or workflows quickly.
What is a zero-code?
Zero code is a tool that allows you to build software, web applications, smartphone apps, and more without having to know how to code. All you have to do is – drag, drop, and assemble, as everything has already been developed or visually modelled.
With many of us being at the junction of our career, from where we can see an ocean of opportunities ready to take us aboard, the options seem to be endless, you can choose to study further, explore your field, and interests, or you can step into the economy and be a part of an amazing corporate, or chose the ever-evolving startup work environment, you can also start building on your very own empire.
The decision you make here has a great impact on your financial status, stability, the quality of experiences you’ll gain, the kind of organisation you choose to work with, is as crucial as the role you have there. Let us look at the – Difference between startup vs corporate culture.
The startup work culture offers you the freedom of being creative rather than robotic, which has flexibility in terms of timings and targets, smaller teams, and an environment that is at a more comfortable pace rather than the tight-collared corporate jobs.
Corporate Culture
Corporate companies have their own benefits, they mostly have a risk mitigated environment, mind you there’s always a plan B, a cushy office, concessions, healthcare plans for employees, wider quality exposure, and a sense of security that things are falling into a routine.
Choosing any one of them might be your key to success, so you need to know where will you bloom and excel.
Difference between Startup and Corporate with an example
Let’s look at this from the scenarios of two people, Rahul and Divya. Rahul is an individual who has been a techie since the beginning of his college. He loves to code.
Coming at Rahul’s personality traits, he’s someone who has always managed his life around a clock, has a timeline for everything in his life, getting a job means a financially stable life for him so that he can help his aging parents. Rather than risks, he believes in coordinated plans.
Now let’s talk about Divya. She’s all about ideas, she’s an avid reader and aims to unfold life rather than cross it. Divya is a risk-taking person and she does not believe in a normal paced life. She loves challenges and values skills over knowledge. As the college is ending, Divya wishes to earn some money while continuing to discover her interests.
The two people are a clear example of how the world consists of two different mentalities, with different priorities and expectations from life.
Startups pride in their innovative approach. It’s quite normal if your role in the organization keeps on changing frequently. This is particularly advantageous as you would gain the experience from all views, work in many people’s shoes, embrace the change, and there’s always a challenge awaiting you.
Creative minds excel in a startup environment because it’s always ready to evolve, you can always put your suggestions forward, there’s always room for something new and inspiring. Out of the box thinking is what startups build upon.
You’re Always Up For A Responsibility
Startups are said to be synonymous with risk, being at a sapling stage, a startup demands a lot of risk-taking tactics, and employees who are willing to be a part of both success or failure.
It offers you a high-pressure environment where even though, there’s always that one big mistake to rip it all down, but the team still gives 100%. It gives you the privilege to take on more responsibility than you thought you can handle.
The Infamous Flexible Culture
Startups mostly have a smaller team than a corporate, this increases the possibility of getting more than one role, rather you play with a variety of roles in different projects. This gives you unmatched exposure.
The flexibility of a startup brings the opportunity to advance quickly. You climb a corporate ladder, but in a startup, you sprint. At a startup, it’s normal for someone to start merely as an intern role and quickly ascend to a senior-level one.
Startups trust their employees on managing their own schedules, startup culture is breaking the paradox of fewer benefits with parental leave, more generous vacation time, and paid off days. Dropbox, even offer unlimited paid time off, understanding their employees respect their work and would not abuse their trust.
Other than that there are often other more intangible benefits, like free lunches, nap pods, a bright office, flexible happy hours, casual dress code, and a more laid-back less tense work environment.
Startups Work To Bring A Change
Startups are driven by millennials who work on their own terms with a motive to see the change. Millennials aren’t content unless they notice the difference they aim to make.
Even with limited words, they find room to give back to the world and including their employees in the process.
The Much Needed Work-Life Balance of a Corporate Life
Corporates have no midnight work calls, no impromptu brainstorming sessions, after that 9 pm deadline no one expects you to work until the next morning. The line between work and home is a blur in a startup. Lesser employees and limited resources push to demand a push on the clock.
Considering the hourly pay system two identical jobs with the same salary—one at a startup working 60 hours per week and one at a corporation working 40 hours will result in a lower hourly rate at the startup since you are working more hours than you would at a corporation.
You Prioritise Money Over Passion
Giving you a reality check, Three out of four startups fail. Even if you work at that one, thriving startup, the benefits will reflect in your pocket at a later stage.
Usually, Startups can’t offer competitive salaries due to the initial lack of funding and cash crunch. Health insurance or paid time off might be the benefits you might never experience.
At a corporation, you can expect to have a competitive salary and benefits packages, with stability in an already tried and tested environment.
Well Defined Responsibility
One important point you need to know about startup vs corporate is unlike a startup, you won’t be expected to work on everyone’s behalf. You just have to finish the responsibility given to you. You’re not expected to have hands-on experience in working with everything, so just have to be exceptional in the role assigned to you. There’s a well-developed process for onboarding, which is timed to lead you up for success.
The Experience Counts
When you step into a corporate, there’s already a vault of knowledge ready to be explored. You can take timed and planned steps, there’s someone to tell you the shortcomings of your work. There’s always a scale to compare, rather than staying like a blind rat in the race.
There’s a protocol for everything, you’ll find that there are many resources at your disposal: your colleagues have a wealth of knowledge, the bosses have years and years of experience.
Abundance of Funds
The biggest difference between startups and corporations has to be the number of funds. Startups are always tight on cash, corporations are about the profit, but they can serve without a profit too.
Corporations also spend on advertisements, multiple locations, talent hiring. While Startups have to be careful in every step they take while big corporations and there’s always a rebound plan.
Essentially it’s about setting your priorities. Are you willing to be in a risk-taking environment, ready to accept a lower salary for the sake of the opportunity of seeking your passion? Is financial stability a priority right now? Do you want a settled, less creative more analytical life? All these questions might lead you to your safe haven.
Startups are companies that are focused on a single product or service that the founders want to bring to market.
What is a corporate social responsibility?
Corporate social responsibility refers to practices and policies undertaken by corporations that are intended to have a positive influence on the world.
What is the Difference Between Startup Culture vs Corporate Culture?
A startup environment is typically a fast-paced culture in which creativity and communication are valued. Startupculture is often perceived as being less formal than that of a corporate environment and usually puts less emphasis on hierarchy within teams.
How do you build a strong culture?
Six steps to help you build a strong culture:
Start with a purpose
Define a common language, values, and standards
Lead by example
Identify your (cultural) ambassadors
Be truthful and always communicate
Treat people right
What is the difference between startup and company?
A startupis a temporary organization designed to look for a business model that is repeatable and scalable. While a companyis a permanent organisation designed to execute a business model that is repeatable and scalable.
What is the difference between startup and corporate entrepreneurship?
Corporate entrepreneurs don’t have the same autonomy as a startupentrepreneur, they have rules they have to follow and corporate guidelines. A startup entrepreneur, on the other hand, completely autonomous, at least when you first start the company.
Salt is a commodity that is commonly used by everyone. There are a ton of different salt brands out there trying to sell to people. But it takes a lot of effort and clever marketing strategies to capture the market of such a common commodity. In this article, will be discussing exactly the strategies Tata implemented to become ‘Desh ka Namak’.
Tata Salt is a subsidiary company of the Tata group. The immediate parent company of Tata Salt is Tata Chemicals. In 1983 the salt industry was unbranded and unprocessed salt was sold in the market. This is the time when Tata Salt decided to invade the market and sell their product. So, Let’s look at how Tata Salt became the most trusted salt brand in India.
So Lets look at Marketing Strategies implemented by Tata Salt:
Generally, other salt companies marketed their product by the word ‘Salt‘ in 1983. As the majority of the people in India are Hindi-speaking people. People get more connected when Hindi words are used. Apart from that salt is a commodity which one usually associates with one’s country.
The marketing team of Tata Salt used this opportunity and devised a marketing strategy to connect with the audience. They, therefore, marketed the product with the jingle “Namak ho Tata ka, Tata Namak“. This jingle connected the common man in a great way. With the change of the word “salt” to “Namak”, people started to consider it as a more domestic product.
Took Advantage by capturing a disorganized market
In 1983, the salt industry was an unorganized sector. Generally, it was sold loose in the grocery store. There were no branded companies that sold salt. People in the business were either selling unprocessed or direct sea salt. Many times, the product was not up to the mark.
The market research also showed that many people wanted a reliable salt brand. This is where Tata salt cashed in on the opportunity. Tata brand is seen to be the most reliable brand in India. So, Tata used the brand to capture the market. Using the respectable brand name of Tata they acquired a huge market share in the salt industry.
Tata’s are hugely respected for their business ethics in India. It has made its mark in India where every common man in India has heard about Tata. This is where Tata salt has taken full advantage of its brand. They added the name of Tata before their salt so that the customer can rely on this product without a second thought.
Improved their Product and then Marketed its Benefits
In 1983, the salt market was very immature. There were many businessmen in this market but none of them was reliable. Most of them were selling unprocessed salt or direct sea salt. Tata’s identified this loophole and started working on it. They researched and found that they can improve their product to a great extent. They worked with the nutrition department of the Government of India.
Tata Salt Marketing
While researching, they found out that Indian people were deficient in iodine. Therefore, they came up with an iodized salt product. This salt was going to be India’s first iodized salt. Tata not only improved the product but also marketed the nutrient value of Iodine to the common people. The increased nutrient value was taken very positively by people.
Mary Kom was appointed as the Brand Ambassador for Tata Salt
Mary Kom Endorsing Tata Salt
Tata group chose Mary Kom to represent them. Generally, brands used famous actors and actresses to brand themselves. But Tata over here made a unique choice. They decided to put forward an internationally renowned athlete to represent their company.
This also sent a message that Tata salt was used by the fittest people. This adhered to their trust in Tata salt. Mary Kom also was a national player and also symbolized national assets and triggered patriotic emotions in the customer.
They used the tagline “Maine desk ka Namak khaya hai“. This tagline validated their product in terms of quality. Also, the tagline connected well with the sentiments of India. This also reminded the people that it was their own country’s commodity.
People in India are very patriotic, their love towards their nation is commendable. Due to the swadeshi movement, people tend to promote the product which is native to their country.
Tata’s were always seen as a company that represented India. When a product like salt came from Tata’s, it was hugely welcomed by the common people. They felt that they are getting a quality product at a reasonable price.
They marketed their salt with the tagline ‘Desh ka Namak’. This tagline deeply connected a common man to the product. People also had a feeling that by buying this product, they are contributing to the country.
Launched new Products
Tata Salt Products
Tata salts have now brought a number of new salt products. The products are Tata salt lite, Tata Salt Plus (double fortified salt). These salts are marketed based on the nutrient advancements. They marketed them on the base of a good reputation built previously. This way Tata salt is increasing its product base and thus increasing revenue.
Tata Salt employed many clever marketing strategies to become “Desh ka namak”. They fabricated several marketing strategies to build the most trusted salt brand. As it had set out when the salt industry was very unorganized, so they somewhat got the first-mover advantage. They took full advantage of their brand and many other things which were aligned in their favor. With this, we come to the very end of the article.
FAQ
When was Tata salt launched?
Tata salt was launched in 1983 as the first national branded salt of India.
Where is Tata salt produced?
Tata salt products are produced in Mithapur facility, Gujrat.
While you’re pitching your business ideas, it is necessary to put your best foot forward. Whether you are an agency, a tech startup, or just a person with some random creative idea, having a professional-looking and well-thought pitch deck, gives you a leg up and makes you a step ahead in your niche. So, if you’re looking for pitching investors to raise money for your company, it is very important to have a solid and creative pitch deck.
In simple words, Pitch Deck is all about briefing your business to another party. For example, you may explain your startup to investors or your product to a potential client in order to get them convinced of your idea or product.
There are certain mandatory features, that play a huge role in making a certain pitch deck more successful than others. Though a lot of bestpitch decks have a basic outline but the ones that stand out the most, are the ones that are capable of gathering the reader’s or the investor’s attention quickly (preferably within 30 seconds of the read)! It is indispensable to know that a pitch deck might be the very first impression that an investor gets, on your business and it should look STELLAR!
It is a prominent fundraising tool for any startup, but creating a pitch deck that can win an investment is pretty daunting at times. Remember, no investor will ever invest, thinking about your team or skills but what will make them invest in a promising and profitable idea, and convincing them for that is a very strenuous task!
Dozens of accelerators, venture funds, successful startups and internet personalities have polished their ideal content of a pitch deck that gives some insight about what is the general or basic approach followed. However, the majority of pitch decks have the same content. Pretty much every pitch deck follows this structure that consists of:
Though all these basic constituents are usually redundant, few companies have made a name for themselves, with the help of their best pitch decks of all time.
List of Top 25 Companies Pitch Deck
There are few examples of top companies pitch decks that stand out and are top in their domain.
Facebook
Facebookis one of the biggest companies that everyone is aware of today, but this billion-dollar company was once a startup.
Facebook | Startup Pitch Decks
Back in 2004, when Facebook wasn’t big in business, it was Mark Zuckerberg and his friend Eduardo Saverin, the co-founders of Facebook, looking for people to invest money in their growing company, just like any other entrepreneur. The success story of how they found one of the biggest companies ever, is intriguing to everyone. But like any other small business, Eduardo did go to New York, to meet potential buyers and investors for Facebook’s initial idea of advertising.
Facebook’s initial pitch deck was just a media kit, showcasing the company’s value proposition, key metrics, and marketing services online.
Their slide layout included cover, quote, product description, solution, market validation, vision, market Size, demographics, user engagement, growth metrics, services, and closing quotes.
The most unique feature of Facebook’s pitch deck was that as Facebook.com wasn’t making revenue back then, the pitch deck was also not revenue traction, but what made it a success was, they showed solid numbers about the growth metrics, customer base, and user engagement.
Airbnb
Airbnbis a popular rental online marketplace company for vacations that helps people to find and list lodges, motels, hotels, and a lot more.
Airbnb | Startup Pitch Decks
However, when it comes to startups, Airbnb is the one whose success story is looked up to by a lot of entrepreneurs. Their pitch deck is a source of reference when it comes to the top pitch decks of all time. But what made Airbnb’s pitch deck differently?
Airbnb’s pitch deck is a perfect example of how to convey a message using short and simple phrases. The intro or the cover page is what catches the eyes of the investor, at the beginning itself.
Imagine, explaining something to a 7-year-old about the business, it sounds difficult to convey but to be precise, if you can’t do that with your pitch deck, then that pitch deck is certainly not what investors are looking for.
The Airbnb summarising the problem in three simple short sentences was a unique feature of their pitch deck.
Price is an important factor for travellers.
Hotels are bubbles.
And there is no way to book a room with a local or to host a spare room in your apartment.
This was the reality back then in 2009. The way the problem was summarised was pretty down to earth. There was no use of complicated Jargons, no debatable statements and the claims made were 100% straightforward verifiable claims.
The bestpitch deck ever made for Moz series B fundraise was also called SEOMoz, with the help of which the company raised $18 million.
Moz | Startup Pitch Decks
Moz is a popular tool for SEO, link building, keywords search, and analytical comparison as well. It provides all in one marketing solutions, that help any business to grow without any manual excessive work.
The Moz pitch deck was made after 5 years of the company’s existence. The pitch was somewhat on a lengthier side, but what perfectly was conveyed is the accurate details and in-depth idea of the company.
What was standing out in Moz’s pitch deck was, as the company was already in business when the pitch was made, they could easily present the exact revenue rates, prices, average customer lifetime value, estimated revenue, cost of paid acquisition, etc.
Buffer
When talked about the best SaaS pitch decks, Buffer hands down takes the top position. The pitch deck is an example of how basic and simple language can have a huge impact on your investor’s mind.
Buffer | Best Pitch Deck of all time
This Buffer pitch deck was used to raise $3.5 million in Series-A. Buffer is a platform that helps users to share the content for social media by scheduling the posts throughout the day. These social media sites can be Twitter, Facebook, LinkedIn or Pinterest.
The pitch deck became popular due to Buffer’s transparency. The owner decided to put that up to help the other startups to raise funds.
Quite similar to Facebook, Buffer’s pitch deck was also based on numbers and facts. These numbers were the ones that were provided by the Buffer users only. They even showed their milestones and had a pretty transparent business model to gain the investor’s attention.
LinkedIn
LinkedIn, founded in 2002 is one of the biggest platforms for business-oriented social media interaction. Through LinkedIn, one can easily showcase their professional skills, experience, interests, and milestones.
With years passing, LinkedIn has become one of the favourite spots for recruiters and job seekers to grow a connection and be in a certain community that suits his or her niche.
LinkedIn is also one of the best pitch decks.
When talked about the LinkedIn pitch deck, the theme of the company is clearly personified, which makes the pitch unique and appealing.
The pitch deck answers questions like:
What is LinkedIn?
Why is it valuable?
How is it different?
It clearly talks about the company’s values, the values this network brings and how is it different from other social media networks.
The detailed answers to questions are what make this pitch unique. The pitch deck also used graphics and pie charts, combined called infographics to explain the message. This pitch deck uses an extensive analogy in order to tell its investors, WHAT LINKEDIN ACTUALLY IS?
YouTube
YouTube just like Facebook doesn’t need any introduction. It is a vast platform of content creators that help in free video sharing. The platform was developed in 2005 and since then it is probably the most famous video-sharing platform in the world. With YouTube, one can easily share his or her content by creating a YouTube channel. The company was acquired by Google in 2006 for $1.6 billion.
YouTube | Best Pitch Decks of all time
YouTube wanted to be the primary outlet for video sharing and that was what was portrayed in its pitch deck as well.
YouTube focused on being the biggest video sharing platform and it succeeded to do so as well. The pitch deck clearly mentioned the potential of its service and thus helped in earning a fruitful result as well. The pitch deck shows that if you understand the potential of your product and can portray that efficiently, then the pitch will always be successful.
Square
Square is an American-based financial and merchant services aggregator, a mobile payment company. The company is fulfilling the dream of bringing merchant services and mobile payment services into an easy-to-use, single service.
Square provides the transaction information to acquiring processor via an internet connection, while a small fee is paid per transaction. Thus it helps the merchants in getting credit card payments via dongle.
Square | Startup Pitch Decks
Square’s pitch deck consisted of in-depth details of its team, with its members being pretty experienced because of working with renowned companies. This helped in establishing social proof for square. Other than that the pitch deck also had detailed charts representing 5 years plans and the business model etc.
The greatest positive for the square was its company’s team. SOCIAL PROOF AND EXPERIENCE played a major role in gaining trust. Showcasing experience, is usually what creates authenticity especially when your management team has worked in Twitter, PayPal, LinkedIn, Google, and a lot more.
Along with that the business model and simple financial model, its pitch deck also depicted the company’s annual revenue and 5-year revenue rate.
BuzzFeed is a digital platform that contains various news, headlines, entertainment, and a lot more. BuzzFeed is one of the biggest digital platforms that provide information and data to millions.
With abundant features, it is popularly known for its quizzes and other than that various stuff and articles about DIY, animals, politics, and business, etc.
BuzzFeed | Startup Pitch Decks
Talking about the BuzzFeed pitch deck, the company managed to raise 240 million dollars. Its pitch deck gives answers to questions like:
What we are?
Where are we headed?
Other than that it also has its revenue model depicted transparently.
Similar to Square, what is unique about BuzzFeed is its SOCIAL PROOF ABOUT NUMBERS. Pitch shows the number of users visiting the website on monthly basis and also there were quotations from large sites like CNN. Other than that the questions answered make the pitch unique and trustworthy.
Foursquare City Guide
Foursquare City Guide is a famous social media networking service used by common mobile users like Android-powered phones, BlackBerry, iPhone, etc.
Foursquare City Guide | Best Pitch Deck of all time
This app’s prime goal is to discover various business opportunities and to discover and share various business attractions around you. It helps in searching for the best places to go in an area.
The pitch deck of Foursquare City Guide uses authenticity as a tactic. It shows its user’s reviews, tweets to boost app popularity.
What was unique in Foursquare City Guide’s Pitch Deck?
The pitch deck had screenshots of tweets from the existent users, thus helping in setting social proof and authentication. This makes the investor, aware of the pre-existing user base of the app and its review among its users as well.
Mixpanel
Mixpanel is a popular platform that helps in providing real-time insights about a certain page and also gives a detailed analysis of page viewership and actions taken.
Mixpanel | Startup Pitch Decks
It is a business analytical search company that helps in checking user’s web and mobile applications interaction and provides tools for such targeted communication.
The pitch deck helped raise $65 million, which was the series “B” deck.
The pitch deck provided by Mixpanel stands out because of its chronological order. It firstly highlights the problem and then shows solutions for the same. And then ultimately depicts the competitive advantages as well. The problem-solving approach is what made the pitch deck unique and trustworthy.
Canvas
Canvas as the name suggests is a business solution, that helps in digitizing paperwork. Their prime objective is to shift the paperwork to mobile apps for quicker and easier solutions. It helps to make the process quite easier with easy to use apps and forms, thus reducing the monotonous nature of the work. The canvas pitch deck, helped them raise $9 million.
When it comes to startup decks canvas shows that simple can also be appealing and can be sometimes a lot beneficial than complex pitches.
The pitch completely stands out for how it shows, that time has evolved from primitive to digital. The digital visualization of day to day tasks, like listening to music to reading a book, shows their eye-pleasing tactics. Also, they provide information about their high profile associates, like Pepsi and how their application helped them, thus creating trust among investors. Rather than explaining who they are, they focus on how their startup will help business.
Castle
Castle is a real estate solution for owners of rental property. The primary objective is to put your property on AUTOPILOT MODE, which means the owner need not worry about the property. This reduces the usual headache of being an owner. The landlord can manage his or her property without any complex management tactics. Though the company isn’t that big its pitch deck is surely something, that has stood out.
The biggest pro of the pitch was its visuals. The aesthetics and the icons were not only self-explanatory but also very easy to understand. The beginning of the pitch deck talks about how the owners wish to manage their property without the need for performing the functions of a landlord.
This makes the investors and the readers pretty clear about the idea that is meant to be portrayed. It also gives them the impression that a solution is required. Their easy to use growth plan also helps, in understanding the historical growth and the future growth insight.
The Adpushup is an ad optimization platform for web publishers. This platform helps the publishers check the placement, size, and types of different advertisements thus providing a lot of insight. This helps in streamlining the process, of ad placement and helps in optimization. While their sample was pretty normal and was an example of a standard pitch deck.
The numbers and statistics they could show, were the reason for the success of the pitch deck.
The most unique feature about the pitch deck was the CASE STUDY. Case studies are not only helpful in establishing users’ trust but helps in creating an impression on the potential investors as well. This helps in selling the pitch to them with ease.
The greatest pitch decks often tell about where their business was when it started, where they are now and where they see themselves in the coming future. This gives a clear picture in the mind of the investors. Adpushup stated this very clearly. They showed their milestones over the years, to show their growing graph.
Tinder
When it comes to dating apps, Tinder is hands down the most popular one. But this famous company was once a startup as well. This brings us to its initial name, which was Matchbox. Tinder earlier called Matchbox created its pitch deck which comes in the list of some of the most successful pitch decks ever.
Tinder used Match Box as its pitch decks.
Tinder wasn’t the only dating app to exist but what made it unique were the features that it used. The swipe right or swipe left feature created a sense of enthusiasm and excitement among the audience. Tinder proved how to balance creativity and simplicity together and get the most amazing output, required.
Although the app presented the views in the simplest form, the pleasing feature was the real world linkage. The pitch deck raised the real question of the FEAR OF REJECTION, which is prevalent among the youth and today’s generation. This made the audience connect with them and made the investors consider their pitch. They also showed complete money-raising tactics, which gave its investors a clear understanding of the profits.
Ooomf (Crew)
The Ooomf was first discovered as an app discovery platform back in 2012. Later after raising some money the company decided to relaunch itself as a freelance marketplace to connect different web and mobile developers, in a way that will fit their niche. It, for this reason, decided to retrace the path as a startup and became a hub for freelancers doing work on various projects.
Ooomf | Startup Pitch Decks
Ooomf is now known as Crew, and the creators on this site get to be picked by top companies like Apple, Google, Uber, and more. These handpicked creators can thus work on the projects they wish to.
The pitch deck they made used, storyline to depict the ease of working on this platform. They also used graphics with minimal texts to promote the company’s theme. To depict the authenticity, they used several direct quotes from various freelancers, which helped to promote the ideology and work of the platform.
Pendo
Pendo is a product analytics platform that helps software developers create software that the audience might love, on the basis of the analysis done. They combine the analytics with real-time feedback in order to understand the user needs and preferences, their product usage patterns and user sentiments, thus helping the product developers create the most appropriate tools, providing the best product experience for users.
Pendo | Startup Pitch Decks
The biggest pro of the platform is that it doesn’t require coding. Thus when enough data is acquired, insights are drawn in order to increase user engagement.
The Pendo series B pitch deck was one of the most efficient ones to come across. Series B pitch decks often need to have more content, as by this stage the business usually has covered a lot more and has gained milestones as well. To sum this all up, in an effective way without making it monotonous is a big part of an effective series B pitch deck.
Though a lot of information needs to fit in, Pendo didn’t compromise in its simplicity and design. They used visuals wisely, using graphs, charts, and a lot more.
Contently
Contently is also the best platform for pitch decks.
Contently is a highly rated content marketing solution, that includes expert content strategy, expert content marketing, and a global talent network. It helps in striving for the key elements of content marketing. These key features, that the platform includes make the marketing process easier and better. The users of the app, can grow their brands and increase their career opportunities, by creating the content that their audience loves.
This pitch deck opens up with strong statistics to prove the point of the platform. It highlights the point of how the brands aren’t able to meet their content marketing goals and what solutions are required for the same. Contently also shares screenshots and experiences of their clients that make the pitch unique.
Yaydoo
Yaydoo is also an example of Startup Pitch Decks.
Yaydoo is office management and procurement platform, that helps companies create productive workspaces. It helps companies streamline their purchasing process. With Yaydoo the businesses can interact one on one with different vendors, and negotiate the business opportunities in real-time. This helps in saving time, effort, and make the process much easier for the team.
The pitch deck of the company depicts the prime motto in just a few slides. This 9 slide pitch deck effectively talks about its milestones of the past two years and how the company has evolved. It also shows logos of its clients that it has worked with earlier, thus establishing the company’s social proof and face value.
Backstartup
Launched back in 2014, Backstartup is an all in one solution for companies. It helps in checking their legal, accounting and payroll, etc. The platform allows various SMEs and startups to, achieve ease when it comes to all the basic tasks mentioned above. With their impressive pitch deck, Backstartup was able to raise $905k in 3 rounds of investment.
The biggest pro of the pitch deck is the aesthetically pleasing visuals and graphics. The 11 slide pitch deck had unique visualization in each and every slide with a pop of colour. They also go into detail about the amount of traction they have received to date and talks in-depth about the product and market Size.
Coinbase
Coinbase | Startup Pitch Decks
Coinbase is one of the largest cryptocurrency transaction platforms. It helps in carrying out transactions and make the digit currency exchange easy and secure, especially bitcoin, ethereum, etc. Being the biggest Platform, Coinbase earns revenue of billions of dollars since its launch. It makes the storage and transaction of cryptocurrency easy between different countries.
Coinbase pitch deck came at a time when the investors weren’t aware of cryptocurrency. They didn’t know its pros and cons and how was it a great alternative. The pitch deck they made was what enlightened the investors. Not only did it highlighted how the crypto was a great alternative but they also showed that the current tactics require reforms as well.
Front
Front is a customer communication platform, which helps to integrate the emails, apps, and teammates in a single view. With Front, all the emails can be seamlessly kept in a single place, from where they can be sent to the desired locations and users. It also has a chat box that helps in the collaboration of teammates in an easy way. The platform makes the process or organization and routing, seamless.
Front raised over $79 million in venture funding. The traction of the company is shown with the help of charts and graphs but the clearance of each slide is kept in mind. The graphics usage of the front is significant. The graphs help in explaining complex things with the help of very little text.
TeaLet
TeaLet is a world marketplace for exclusive teas. Tea is a widely used commodity but the process of tea reaching from farmers to buyers is pretty complex. The middlemen make the process inefficient. This is where TeaLet comes in handy. This web platform helps in connecting the farmers to wholesale buyers, helping in increasing the profits for the farmers, and also proving the team at lower prices to the buyers.
Their amazing pitch deck also summarises this theme efficiently through the storyline.
The TeaLet pitch deck immediately sets up the credibility by powerful statements like,” we have sold 100,000 cups of tea in more than 20 countries”.Such powerful statements immediately help in setting the tone of the theme. They also emphasise a lot on WHY! They provide hard numbers in order to depict WHY TEALET? The design too stands out as compared to other pitch decks.
SickWeather
SickWeather is an app specially meant for analyzing human population health on the basis of various data. This app claims to predict the outbreaks of illnesses nearly 91% of the time. SickWeather has a radar that offers illness forecasts instead of the weather forecast.
SickWeather | Startup Pitch Decks
It helps in forecasting and mapping the illness so that we can get the knowledge, just like one gets about rain. The app scans the social network to detect any indications of illness.
They used videos that were appropriate for personal decks sends via mail so that the investors could see what they are dealing with. It also included the list of their clients, those were well-known people, which helped in increasing the credibility of this startup. The use of graphs was also a positive, format!
Task.ly
Task.ly is a task management platform for business professionals. With the help of this, one can easily organize the tasks of collaborating with their team, checking work progress, and carry out meetings.
The platform is an amazing alternate for unorganized emails, notes, and meets platforms and Carrie’s out the process in an efficient and seamless manner.
Thought the pitch Deck of the app isn’t in the recommended limit of slides. This 28-page slide pitch deck includes graphics and icons placed in a manner where they are best suited. Although being long its slides contain a very little amount of text and have icons that help in explaining the pitch effectively and quickly.
Mint
Mint is a financial service tool that can be personally used by people to keep a check on their expenditure and find ways to save money. It helps in keeping a track of how much a person is spending and what are ways in which the expenditure can be decreased. It does help the user get an insight into their finances.
Mint’s logo has changed with the acquisition of Intuit.
Though the pitch deck was never used to raise money there is still a lot that can be learned from the Deck by different startups.
The most highlighted feature of the deck was its exit mechanism. The pitch deck provides various exit strategy options that make it unique. This simple deck provides a very clear view and proposition to its customers and investors, thus making it a powerful startup pitch.
In a nutshell, a strong pitch deck not only enhance your chance of getting investors but also let you know what your business is all about and who your customers are. The examples of these famous startups will provide you with inspiration to create the best pitch decks to communicate your ideas, present your business or raise venture capital.
FAQs
What is a pitch deck?
A Pitch Deck is all about briefing your business to another party. For example, you may explain your startup to investors or your product to a potential client in order to get them convinced of your idea or product.
How do you pitch an idea?
Tips for pitching your idea or product to investors:
Nail your elevator speech.
Research your audience.
Use realistic data (and be able to back it up)
Tell an engaging story.
Have a documented succession plan.
Dress for success.
Know your revenue model.
Which are the best startup pitch decks of all time?
Following are the best examples of startup pitch decks:
No matter which business you are in, If you are working, there is a chance that you will have to face angry or dissatisfied customers. But many company representatives try to avoid the problem and just recite the “company policies” again and again, which is not what an angry customer wants to hear .
The dialogue of an angry customer leads the employees to become so frustrated that they use an unapologetic tone in the place of regret. Then the customer will feel like no one is listening to him and also that the customer is being ignored. This will lead to the company’s bad image in the customer’s eyes which is a bad thing for the company.
If you are thinking to handle this situation wisely and winning over your customer. Then you should read this article, below are the given tips on how to deal with angry customers and also on how to calm down an angry customer.
If you are dealing with an angry customer could be a great opportunity for you to turn the situation into a good situation. How you behave to the customer can make or break the perception of your company. Dealing with angry customers is hard, but instead of going away from the situation, you can use the situation to improve your product and build a great relationship between you and the customer.
According to research, 91% of unhappy customers do not actually communicate to companies that they are not happy with the product. Complaints from angry consumers serve as new insights that can help improve the company’s performance.
facts on angry customers
Listen To Angry Customer
If you also want to handle an angry customer in an effective way. So how to calm down an angry customer? The very first thing you can do is use active listening. Active listening refers to concentrating on every part of what the customer is saying so it can be clear about why they are upset with the product. Most people do not listen with the intention to understand but they listen with the intention to reply.
For diffusing angry customers, you should be present and give the customer your attention. Focus on the words that the customer is saying and avoid the anger behind their words. To show them that you are actively listening, repeat their complaint again and ask clarifying doubts. Try not to interrupt them, this can be the most effective to handle the situation. Listeninging to them carefully will also help you with what to say to an angry customer next.
Apologize
In winning your customer’s heart, an apology is a very must thing you should do to make them feel good. An apology for the problem they are having with your product. Dealing with an angry customer is hard, but you can start by acknowledging the mistake and letting the angry customer know that you are sorry for the problem that occurred.
First thing one should know on how to handle angry customer is by offering your sincere apologies. A thorough apology shows the customer you care about the situation and their problem. Give them a brief explanation of what you have understood about the problem. Try to keep the explanation short.
Showing empathy to your customers will help you guide your response to dealing with angry customers over the phone. Empathizing does not mean agreeing with whatever the customer is saying. It generally means you are understanding the customer’s situation.
By this, you can know how the customer is feeling. And now you will be relating to their problem at a personal level. This will basically show them that you respect them and you are listening to them.
Keep A Positive Tone of Voice
While talking to that angry customer, do not let the frustration enter between you two. This will be better for your conversation with your angry customer. In many examples of angry customer situations the employees may use negative words to match their tone of voice. This is not how you deal with an angry customer, as it will mess up everything. It’s very easy to argue with someone, but it’s hard to keep calm and to understand the situation calmly. You need to use a more productive way of conversation while handling angry customers.
Many employees don’t know how to calm down an angry customer. So before making your customers calm, you should maintain your calmness and take a moment to think about your answer. This can make the situation better than before. Think about your response to ensure any type of aggressive language. If you have enough time then take your time and come back to a better response. A small break will help you overcome the situation without any negative words.
Use The Customer’s Name
Using someone from their name can leave a strong impact on the person. So how would you handle an angry customer? The first thing you need to do is use the customer’s name will make them familiar with you. They will feel comfortable while interacting with you. This will lead you to a personalization level in the interaction. Using a name shows you care and you are a real person and also that you respect them. Try to use angry consumers name occasionally. Addressing them by their name too much can let you in a very awkward situation.
When a customer is angry with your company, it’s obvious that the trust between the company the customer has been damaged. Now it’s your task to rebuild and try to maintain the trust moving forward. If you have made a mistake, just acknowledge that and do not argue with angry customers on the phone.
When handling an angry customer, make sure you have all the history of that customer. This will help you in communicating confidently and that you are capable of solving the problem. If your not sure on what to say to an angry customer you should start by being honest with the customer.
Give them some behind the scenes view of things so that they can understand your situation too. Many examples of dealing with angry customers show that taking the responsibility for the mistake have calmed angry customers.
How To Win Trust
Don’t Take It Personally
Always keep in mind that this is a part of your work and not your personal life. The customer is not complaining to you but to the company. Many angry customers scenarios show that had their expectations from the company, but are now they are feeling cheated by the company. If you will take it personally situation will go out of your hand. It will affect your overall quality of work and mental health.
If your company is the one who ishandling an angry customer. Then your company team must know how to deal with angry customers face to face and should be skilful in the way they talk to the customers. Negative words and ways of talking will increase the anger of the customer and positive language will calm down the customer. Try to avoid languages that imply that the customer is accusing wrong. Using positive words will turn a worse situation into a good situation. Try to use words such as “yes”, “absolutely” etc.
Find The Solution
While handling your angry customer, the very main goal you have is to resolve their issue. Try to resolve it if something that you can do immediately to solve the problem. And if not, let them know that there is nothing you can do about it. And also you need time to solve the problem. Another important thing you must know on how to deal with angry customers is that you should give them an approx amount of time to which will take to solve the issue.
Be honest with the customers, try to meet the time you gave to the customer. If not then let them know that you need more time than this. Doing this will enhance your relationship with the customer, while the dialogue of an angry customer will also change. If you can not solve the problem on your own, try to connect to your company’s senior members. Handling angry customers this way will help you to solve the problem very fast.
You may have more experienced members in your customer service group that will help you in solving the issue very fast. The very most important thing you should do is let the angry customer know that you are trying to solve the issue, and it will be solved very soon.
If you will think carefully angry customers help us a lot in improving your company. They point out the root cause of their problem and help in improving your operational changes. It will be better if you keep the feedback from your angry customer. This way you can get help in diffusing angry customers and keeping the customers happy.
Conclusion
This is true that handling angry customers is a bit difficult task to do, but it’s not impossible. The main thing you can do only is to let the customer speak and you should communicate with them with respect and empathy.
Try out these tips for handling angry customers orstrategies for dealing with difficult customers. You will be able to turn a negative situation into a positive one. And also, you will build a better relationship between the company and the customer. Hopefully this article helped you understand on “how would you deal with an angry customer?”
Thank them for bringing the issue to your attention.
Explain the steps you’ll take to solve the problem.
Set a time to follow up with them, if needed.
Be sincere.
Highlight the case’s priority.
How to handle angry customer in difficult situations?
Coping With Difficult Situations.
Remember, Distress is Time Limited.
Put the situation into perspective.
Keep your thoughts Balanced and Truthful.
Focus less on the stressor and more on Solving the Problem.
Remember, You Are More Than This One Situation.
Seek support from Family, Friends and/or Counselors.
How to deal with an angry customer?
Stay calm.
Shift your mindset.
Acknowledge their distress.
Introduce yourself.
Learn about the person you are talking to.
Listen.
Repeat their concerns back to the customer.
Sympathize, empathize and apologize.
What is the best strategy to use in dealing with angry customers?
If the customer gets louder, speak slowly, in a low tone. As you approach the situation with a calm, clear mind, unaffected by the customer’s anger, their anger will generally dissipate.
A crisis is any event or period that will lead, or may lead, to an unstable and dangerous situation affecting an individual, group, or all of society. Crises are negative changes in human or environmental affairs, especially when they occur abruptly, with little or no warning. – Wikipedia
Ever since the inception of human life on the planet earth, or even before that time, We have faced Crisis. So much so that it is a part of life and we don’t deface the fact anymore. Crisis has taught us that we lack something, and we need to work more on the present systems to make things more liveable. Making us more decisive, it cures indecision. This is a kind of help in our constant journey of making things better. However, We humans are the dominant species in nature.
Why, you may ask ? Because we have hacked evolution !
Ours is the only species that has decided to actually become better or more efficient without waiting for the process of evolution to take place (that is always slow). So, we are the only animal who has hacked evolution. That makes us the most fast-paced living species than anyone. Does that mean we don’t have a crisis anymore? No, we get crises every now and then to showcase us that some things are just so fickle. A house of cards.
We all are terrestrial mammals, we live on earth, land. Build houses and earn a living. Housing or real estate is a super demanded domain in this world. As population boosts we will want more and more houses, dwellings to accommodate people. Amongst the constantly rising demands for land, it is very imperative for all of us to make sure that land is distributed justifiably. To provide for the need that is round-the-clock. Not to mention, being such a big sector, Housing sector or real estate sector is not oblivious to shockwaves, you know CRISIS. Whenever a wave hits this epicentre, human lives move. It moves to that extent of magnitude which we cannot even measure on a Richter scale.
China is the world’s most populous country on the globe. Most humans live there. Housing sector is as big as it gets. It has seen its share of crises in this magnanimous sector. A really big economy. It has seen his share of strides and waves of uncertainties on his pupils. Lets see an example for clarity.
Real estate in China is developed and managed by public, private, and state-owned red chip enterprises. In the years leading up to the 2008 financial crisis, the real estate sector in China was growing so rapidly that the government implemented a series of policies—including raising the required down payment for some property purchases, and five 2007 interest rate increases- due to concerns of overheating. But after the crisis hit, these policies were quickly eliminated, and in some cases tightened.
The Chinese property bubble (2005-2011) was a real estate bubble in residential and/or commercial real estate in China. The phenomenon has seen average housing prices in the country triple from 2005 to 2009. It deflated in 2013.
Massive doesn’t even begin to describe the situation with China’s property market, but that’s somewhat expected with a population of 1.4 billion people.
And as the chart below shows, the bubble keeps on getting bigger!
China Real Estate Bubble
Well we know that this thing is of the past. This was a crisis and China hopefully learned some things from it. That’s why storms come, to make us more stable. This article is not about the past but for the future. This point in time, we are gonna see another crisis. Maybe more tense than the past. Maybe a more lethal Than past. So, what is it this time ?
EverGrande Crisis in China
China’s second biggest real estate mogul EverGrande is facing a crisis. To be more precise the company is going through financial difficulties. It is having liquidity issues to pay back its lenders. To give you some context, China’s real estate market has been booming in the recent past and to capture the trend and grow, Evergrande had taken up so much debt that they are struggling to pay it off now. The magnitude of this upcoming crisis is such that, if it collapses, people will lose homes. Not only China’s economy but the global economy as a whole could be affected. Lets see what is the scene here,
The Evergrande Group or the Evergrande Real Estate Group (previously Hengda Group) is the second largest property developer in China by sales, having developed projects in over 170 cities in China. It is ranked 122nd on the Fortune Global 500. It was founded in 1996 by Xu Jiayin. It sells apartments mostly to upper and middle-income dwellers. In 2018, it became the most valuable real estate company in the world. Evergrande Group owns 565 million square metres of development land and real estate projects in 22 cities, including Guangzhou. The company and Alibaba own 50 percent each in Guangzhou Football Club and Evergrande football school is the biggest football school in the world. In the year 2009, the company filed for an IPO, An Initial Public Offering to get public
As of September 2021, the company is at risk of defaulting on its debt. An estimated 1,500,000 customers could lose deposits on Evergrande homes that have yet to be built.
“I think ultimately the Chinese authorities will step in to make sure at least the wider financial system doesn’t run into a crisis,”. “If you’re a property developer you’re facing a few bleak months ahead. The key distinction I think is policymakers will allow property developers to suffer considerable pain, but they’ll step in to make sure the banking system is okay.” – Mark Williams, chief Asia economist at Capital Economics.
Kotak tweeted, the threat over China’s second-largest real estate developer reminded him of Infrastructure Leasing & Financial Services (IL&FS). Last year in September, the infra leasing and financial services company wasn’t able to pay its debt due to shortage of funds. The financial services market felt the tremors, and led to a liquidity crisis. However, the government came to its rescue and hand-picked nominees to replace the board in October. It had extended Kotak’s term as non-executive chairman of the debt-ridden group by one year.
Lauding the government’s swift decision-making, the 62-year-old veteran banker said the Indian leaders provided calm to financial markets. “The government-appointed board estimates 61% recovery at IL&FS. Evergrande bonds in China trading, approximately 25 cents to a dollar,” he wrote.
The Lehman Brothers Financial Crisis
Lehman Brothers Holdings Inc. was a global financial services firm founded in 1847. Before filing for bankruptcy in 2008, Lehman was the fourth-largest investment bank in the United States (behind Goldman Sachs, Morgan Stanley, and Merrill), with about 25,000 employees worldwide. It was doing business in investment banking, equity and fixed-income sales and trading (especially U.S. Treasury securities), research, investment management, private equity, and private banking. Lehman was operational for 158 years from its founding in 1850 until 2008.
The bankruptcy of Lehman Brothers on September 15, 2008 was the climax of the subprime mortgage crisis. After the financial services firm was notified of a pending credit downgrade due to its heavy position in subprime mortgages, the Federal Reserve summoned several banks to negotiate financing for its reorganisation. These discussions failed, and Lehman filed a Chapter 11 petition that remains the largest bankruptcy filing in U.S. history, involving more than US$600 billion in assets.
The bankruptcy triggered a 4.5% one-day drop in the Dow Jones Industrial Average, then the largest decline since the September 11, 2001 attacks. It singled out a limit to the government’s ability to manage the crisis and prompted a general financial panic. Money market mutual funds, a key source of credit, saw mass withdrawal demands to avoid losses, and the interbank lending market tightened, threatening banks with imminent failure. The government and the Federal Reserve system responded with several emergency measures to contain the panic.
Radhika Gupta (MD and CEO of Edelweiss) said in a public notice that the real estate sector is highly regulated, given the large role it plays in the Chinese economy. In synopsis, the fund managers(at Edelweiss) do not think that the sector is facing systematic risk(Risk inherent to the entire market). The government is prioritising this issue and rapid regulations are expected. She also advised that investors with a long term horizon should stay patient as fund managers at Edelweiss see a transitory volatility.
Tweeted as a part of a disclaimer, the Edelweiss Greater China Equity Offshore Fund was at its highest risk on the Riskometer.
Dear Shareholders, I am pleased to present the reports of China Evergrande Group (“Evergrande” or the “Company”) and its subsidiaries (the “Group”) for the year ended 31 December 2020. The Group’s turnover and gross profit for the year amounted to RMB507.2 billion and RMB122.6 billion respectively. Net profit was RMB31.4 billion. Core business profit was RMB30.13 billion. In order to repay the trust and support of shareholders, the Board recommended the payment of a final dividend of RMB0.152 per share for the year 2020, which will be distributed upon approval at the general meeting of the group. – Prof Hui Ka Yan (Chairman of the Board of the Group, Chairman of the real estate group)
This is quoted from the annual report of 2020 of the company. It paid a dividend. The company was saying it out loud and clearly, that we are fine, Everything is fine, we are paying dividends, Take your profits share, shareholders. Well now we see the whole big picture, Loud and clear.
Evergrande founder and Chairman Hui Ka Yan continued his precipitous drop in Bloomberg’s wealth ranking as the company’s shares fell to their lowest in a decade. His fortune now stands at $7.3 billion, down from a peak of $42 billion in 2017.
Smothered by a $300 billion liabilities burden that has crushed its credit rating, share prices and reputation among a once-adoring public. Throughout last week, the concourse outside Evergrande’s mirrored offices in the southeastern city of Shenzhen was occupied by unpaid contractors, angry sales agents and investors scenes echoed across a country where prolonged protest is rarely tolerated.
Now, as default appears all but inevitable, fears are abounding of a contagion within the Chinese property market — and far beyond.
The month of September is typically when real estate companies in China record higher contract sales of properties. However, the ongoing negative media reports concerning the Group have dampened the confidence of potential property purchasers in the Group. The Company expects a significant continuing decline in contract sales in September, thereby resulting in the continuous deterioration of cash collection by the Group which would in turn place tremendous pressure on the Group’s cash flow and liquidity.
Here is a little excerpt of previous financial statement to back the downward trend in operations of the company.
Balance Sheet Excerpt of last year.
As disclosed in the Operating Statistics Announcements, the contract sales of properties of the Group in each of June, July and August 2021 amounted to RMB71.63 billion, RMB43.78 billion and RMB38.08 billion, respectively, which showed a decreasing trend.
Announcements and Notices by Evergrande (14 September,2021) The Real estate giant also mentioned in a recent public open notice that –
No material progress on sales of interests in members of the Group
The disposal of the Company’s office building in Hong Kong has not been completed within the expected timetable
The Problems:
The company has $300 Billion debt to bondholders
Property sales declining for months and will continue
Company owes $103 billion to construction companies and other business creditors
Banks are not ready to refinance
Company wants to repay debt in the form of property and parking spaces
China’s Government has imposed limits on the amount of real estate borrowings, which caused bondholders to withdraw their money
EverGrande now needs to pay interest of $83.5 Million on bonds now, with a grace period of 30 days
China stock markets and Global markets, mainly in the US is reacting negatively to the news.
Stock markets globally sank on Monday as investors weighed the risk of a spillover from Evergrande’s debt. Bitcoin dropped 5.4 percent this week to $45,025
China’s property market is majorly affected and we see the 2008 financial crisis all over again.
Evergrande bondholders might sell their other investments too to keep their money as cash at the moment. This might cause market correction
In an effort to flatten the crisis curve, China’s central bank boosted its gross injection of short-term cash into the financial system after concern over a debt crisis at China Evergrande Group roiled global markets. The People’s Bank of China pumped 120 billion yuan ($18.6 billion) into the banking system through reverse repurchase agreements, resulting in a net injection of 90 billion yuan.
Injecting funds to flatten curve.
China bails out the company indirectly by asking borrowers(state owned banks mainly) to take the property and parking spaces and waive off the debt.
Evergrande Crisis Effect on India
Sensex and Nifty are at great heights and thus are more volatile to corrections.
Short term corrections may happen
Over a medium term, India can benefit from the situation because the Chinese crisis cause increased money flow into the Indian markets
This crisis can put the rupee under pressure. If Evergrande is allowed to default, the market could see a massive sell-off with significant contagion risks for global financial markets – HDFC bank economist’s report.
If one single company that owes $304 billion can develop financial exposure to hundreds of lenders, millions of investors in bonds and stocks, and hundreds of thousands of homebuyers, Then we cannot be sure of big corporations anymore in china.
Indian steel still sees a strong spine as evergrande goes to a cash crunch.
Improvement In indian steel sector
Shailendra Kumar, Chief Investment Officer at Narnolia Financial Advisors feels till now Evergrande issue looks localised and Chinese policymakers should be able to handle it using steps like restructuring. He believes the Indian economy and Indian equity market is set for exciting times ahead. “While the global trend of digitalization is a megatrend favouring the Indian economy, domestically, formalization is another megatrend adding further positivity to Indian equities,” he said.
So, what shall happen tomorrow, for sure we can’t predict it to a nice accuracy, But we can surely see that what we are facing is risk, Uncertainty or maybe the silence before a storm. Let’s call it a crisis.
FAQs
What is Evergrande crisis?
Evergrande is an enormous company embedded across China’s financial system and economy, that relies mainly on real estate.
What does Evergrande do?
Evergrande Group is an investment holding company in China. It is involved in real estate business. Evergrande group does development, investment, and management of real estate properties.
Who is the founder of Evergrande Group?
Xu Jiayin (Hui Ka Yan) has founded Evergrande Group, headquartered at Shenzhen, Guangdong, in 1996.
There are four main types of marketing techniques that are being commonly applied these days – offensive marketing, defensive marketing, guerilla marketing, and flanking marketing. Among these, defensive marketing is known to be the most revered one due to the low risks attached to it. Read on to know everything about defensive marketing and some well-known examples too!
As the name suggests, defensive marketing incorporates a protective approach towards the consumers, irrespective of the skyrocketing competition. Once this mode is put into practice, much of the experimentation processes come to a halt. It is essential to understand that the company’s actual “defense” is regarding its position in the market, not the products sold.
The following three types are the best way to provide a deep insight into the core aspects of defensive marketing. Whichever form is applied, the test remains the same – the status of the company should not be degraded due to fluctuations in the market. This categorization is solely based on the means applied. They can be applied individually as well, based on the needs.
Position Defense
The existing position of the respective company in the market is to be maintained at any cost. One of the most important strategies applied is the deepening of all old bonds catering to customer satisfaction. This one is more prone to be the victim of offensive players.
Mostly, a single best-selling product is set as the focus. Accordingly, other parameters are modified to suit the economic conditions while building the brand name continuously.
Example of Position Defense
The automobile giant Mercedes prefers to stick to the same routine, irrespective of similar attempts being made by Toyota.
On the other hand, Apple does not focus on increasing the RAM of iOS devices by copying other brands. This helps the tech-savvy people rely on the quality.
Ultimately, the standards remain high and the position does not plummet at all.
Mobile Defense
A lot of changes are made in the direction of “not losing the current position”. The steps taken are mostly for backing up the company so that the diversity in products helps in compensating at all levels. The changes include broadening the target market, enhancing promotional mechanisms, adding more products to the catalog, and altering market segments each time.
Example of Mobile Defense
The widely known Indian Tobacco Company (popularly abbreviated as ITC) forms the best example for this category of developmental defense marketing. ITC has spread its scope to food ventures (the daily essential Aashirvaad wheat), and other significant commodities. Agribusiness is also a new inclusion, leading to even more profits with the increase in demand.
Counter-Offensive Defense
It is not just an exclusive type of marketing, but also another way of promoting defensive strategies. The simplest way to defend the position is to nullify the various downgrading attempts made by attacking companies. Mainly, the attack is dodged in such a way that it turns beneficial for the recipient company. Prices are reduced and products are improved.
Example of Counter-Offensive Defense
Almost all beauty brands have incorporated organic products in order to suppress the increasing popularity of purely organic brands. This increases the range and helps them grow at the same time. If the organic companies begin including synthesized products to tackle this attack, this would be regarded as a counter-offensive move in the direction of probable profits.
Now the doubt is – how is it a breakthrough? In such uncertain times, taking calculated risks has become the new norm. In other words, defensive marketing is an apt real-life depiction of how an investor or strategist looks before leaping. It is widely believed that this type of marketing is widely being used to balance the economy and maintain the flow of incoming ideas.
FAQ
What is the difference between defensive marketing and offensive marketing?
In defensive marketing, the organization focuses on its own betterment while offensive marketing techniques are driven by downgrading principles.
What are some of the reliable trends in defensive marketing?
The trends can be easily identified through a budget decline, use of media in promotions, propagation of defensive newsletters, and much more. These trends help in further streamlining the strategies so that the past mistakes do not overpower the sudden change in marketing technique.
What are the top strategies useful in the implementation of defensive marketing?
There are five Ps that make defensive marketing successful – pricing, partial distribution, product improvement, prudent advertisement, and the powerful awakening of the market. They help in managing even the most obsolete brands and making them shine in no time.
We are living at a time where people now instead of preferring 9 to 5 jobs are looking for something interesting and work that pays more than a regular job. This has led to a great increase in freelance jobs in the market. To be put simply, freelancing is all about being self-employed rather than being devoted to a single employer for a long time.
With passing time the market of every industry is changing, the companies now preferred freelancers as well. There are times, where it can be seen that adults aren’t able to secure a job according to their skills and completely going out of tune. This is the time when freelancing comes in handy. While freelancing a person can fully utilize their skill and get paid according to their work.
With Covid-19 showing its worst face, there are people who have lost their regular jobs and after that, they have opt for freelancing for a source of income. Freelancing is growing between College and University students as well. The time is comparatively flexible in freelancing than what a full-fledged job provides. It helps the students to earn while prepping for their Universities.
There are numerous benefits while working as a freelancer. Here, one can choose, with whoever they want to work with. While freelancing, there is no limit, one can just work on more than one project and get paid for it. While working on different projects, skills are developed, connections are built and the best part is that the work can come from any corner of the world.
If you are not willing to risk the unusual, you will have to settle for the ordinary.
— Jim Rohn
Factors To Look Out For While Hiring Freelancers in India
While hiring freelancers, clients need to be cautious. From the payment they are charging to their skills, everything is important.
If they have prior work experience and a great portfolio. It is almost on the top of the demand list of a business.
If the freelancer is well versed with their work and understands clearly what the present client wants from them.
Professionalism to a certain extent. Just because it’s freelancing, doesn’t mean that the responsibility is any less.
If the independent employer would be able to finish up the work on time.
One of the most important factors that clients pay heed to, is the payment, and if it is relevant to the work of what the freelancer is providing the business with.
Some of the best freelance platforms that are used to hire freelancers in India are the following.
Freelancer works as a place where employers and employees can unite to cater to both of their needs. It was founded in the year 2009 by Matt Barie and Cody Busby. The headquarters is situated in Sydney, Australia. It gives, employers the option to choose from 50 million freelancers.
Features Of Freelancer
The platform gives an option to the employers to recruit freelancers for their projects from all over the world.
It provides the client with a Robust search option and introduces them to the best level workers for the projects.
A tool is provided to the employers and they set a goal of the said project for which the selected worker has to complete to receive their payment.
It has a feature of time tracking, through which the employers can find out about what the assigned person for the project is up to.
The company was founded in 1999 by Odysseas Tsatalos, even after changing its names, the goal of the company remains unchanged. With its headquarters in California, USA, the main aim is to connect businesses with remote workers to fulfill the projects.
Features Of Upwork
The platform provides great communication support to both employers and freelancers. It has the option to send text and video messages.
A form of work diary is provided, that helps the employer to realize the hours the freelancers have spent on their work and can pay them accordingly.
Famous for offering over 300 plus digital services, Fiverr was founded in the year 2010 by Micha Kaufman and Shai Wininger. The headquarters is situated Tel Aviv, Israel. The company reportedly generated $189.5 million in 2020.
Features Of Fiverr
Financial transactions are done within the platform of Fiverr. Special care is taken so that financial details remain confidential.
Clients have the freedom to provide feedback in the freelancer’s profile.
Clients get to see the important details of the freelancers and can decide if they are acceptable for the job.
There are multiple categories of jobs from which the client can choose a freelancer according to their project’s needs.
Why Employers Should Choose Fiverr
It is cheaper than other platforms for the clients.
It is user friendly and easy to navigate
The Not So Good Traits of Fiverr
Freelancers sometimes delay their work and it becomes annoying for the clients.
This online Freelance market platform is made in India. Founded in the year 2014 by Dipesh Garg, it has been providing freelancers a platform to get their favoured job and the clients to get their projects done for seven years. The headquarters are situated in New Delhi, India.
Features Of Truelancer
The payments of the freelancer’s work are collected from the employers firsthand. It is kept in a safe deposit and is paid to the sellers only after the works are done and approved by the clients.
Easier to use and anything can be found just like while using Google.
Numerous contests where one can participate and prize money.
Freelancers get informed about new projects through email.
Why Employers Should Choose Truelancer
It guarantees full satisfaction and if not, then they refund the full money.
Check the work samples provided by the freelancers.
The Not So Good Traits of Truelancer
There is no live communicating support is provided by the platform.
Sellers turn out to be fake in few cases.
Guru
Review – 4
Guru Website
This company was founded in 1998 by Al Yau, Bjoern Lasse Herrmann, Inder Guglani, and James Slavet and now has become a great platform for freelancers. This platform is famous for establishing long-term business relationships between clients and freelancers.
Features Of Guru
For the payment processing, it charges a minimal amount and for basic communication, between the client and the freelancer, it doesn’t ask for extra charges.
It provides loads of options for payment methods to the clients.
The support system is available 24/7 and ready to assist both sides.
Feedback methods are provided to both the client and the freelancer.
Why Employers Should Choose Guru
The hiring process is simple.
Short-term as well as long-term contracts can be created between clients and freelancers.
The Not So Good Traits of Guru
There are no live chat facilities to communicate with the seller.
The world is changing, with the outbreak of Covid-19, the business market has also changed. People started preferring being freelancers and employers also are in favor of hiring them. These freelance sites serve the clients the best of the best workers to choose from, for their said projects and barred them from setting for the ordinary. Freelancing is the new future and the future is already here.
FAQ
Which Skill are best for Freelancing?
The top eight skills that are best for freelancing are:
Social Media Management
Web and Mobile Development
Data Entry
Web Designing
Accounting
Graphics Designing
· Internet Research
Consultancy
Who is the Richest Freelancer?
James Knight is the richest freelance, who left his job of a programmer at Google. He is now earning $1000 per hour.
Do Freelancers get Paid?
Yes, Freelancers do get paid according to their skills.
Piyush Mishra
