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  • List of Brands Endorsed By Hrithik Roshan

    One of the most common marketing strategies for big companies these days is to get a celebrity brand ambassador to influence consumers and raise awareness among the masses. Celebrity endorsements are popular in the current marketing world as they provide many advantages for both the company as it can reach the target audience and increase the brand equity.

    Hrithik Roshan is one of the most popular celebrity brand endorser in India. Hrithik Roshan is an Indian actor that predominantly works in the Hindi Film Industry. The actor has won many hearts by his acting, good looks and dancing skills and for that has won many awards especially in the Filmfares.

    Hrithik has consistently been listed in The Forbes India’s Celebrity 100 from 2012 and is one of the highest paid actors in India. The actor is known for his work in movies such as Kaho Naa Pyaar Hai, Kabhi Khushi Kabhi Gham, Koi Mil Gaya, Krrish, Jodhaa Akbar, Guzaarish, Zindagi Na Milegi Dobara, Agneepath, War, etc. Besides his acting career, Hrithik started his own fitness and lifestyle brand known as HRX in 2013.

    Hrithik has is a performer and has also appeared as a judge in the dance reality show called Just Dance in 2011. The actor is known to charge over Rs.1.5 to 2 Crores for per endorsements. The net worth of Hrithik Roshan is over $35.66 million, while his brand value was estimated to be $38.9 million in 2019.

    Some of the brands endorsed by Hrithik Roshan are HRX, Cure.Fit, Hero Honda, Free Fire, Rado, Zebronics, Paragon, Mountain Dew, He Deodorants, Coca-Cola, Arrow, Reliance, Simpolo Tiles, Donear, Nirma, Tata Tigor, John Players, Treeview Televisions, True Fan, White Hat Jr, Plasto Pipes and Tanks, Euro, Pratik, Flamingo.

    HRX
    Cure.fit
    Garera Free Fire
    Rado
    Zebronics
    Mountain Dew
    Paragon
    Arrow
    Oppo
    Nirma
    WhiteHat Jr
    Donear Industries Ltd
    Plasto Pipes and Tanks
    Flamingo Health
    John Players
    He Deodorants
    Frequently Asked Questions

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    Here is a list of Brands endorsed by Hrithik Roshan

    HRX

    HRX is India’s first celebrity based brand that focuses on sports and active lifestyle space. The company has its headquarters in Mumbai Maharashtra and was founded by Hrithik Roshan, Sid Shah, Afsar Zaidi, and Kamal Punwani in 2013. The company has recently become popular for its wide range of products in fitness, sports and training apparels, footwear and accessories.

    HRX became Myntra’s subsidiary in 2016. The company has also branched into the audio, sports equipment and small devices space with headphones, headsets, wireless neckbands, earbuds and portable speakers which are now available on Flipkart.

    The brand was created by Hrithik to help people achieve their fitness goals. Hrithik has also made many multimedia commercials for his brand, making the brand one of the largest homegrown active-wear brands that competes with select offerings from Nike, Adidas and Puma.

    Cure.fit

    Cure.fit is one of the most popular fitness and healthcare companies in India and has many group workout fitness centres in cities like Bengaluru, Hyderabad, Delhi and Gurugram. The company is headquartered in Bengaluru, Karnataka and was founded by Mukesh Bansal and Ankit Nagori in 2016.

    Cure.fit offers services physical and mental well being across four different flagship sectors which are cult.fit, eat.fit, mind.fit and care.fit. Cure.fit offers workout format such as Zumba, Yoga, Boxing, Strength & Conditioning, Sports Conditioning, HRX by Hrithik Roshan, Prowl by Tiger Shroff, Football and Running and also has DIY workout packs on their app and website.

    The company made Hrithik Roshan its brand ambassador for five years at the cost of Rs 100 crore. Which is why the the centers and the app of Cure.fit offer a Hrithik’s personal brand HRX’s specialized workout plan. The actor also made a fitness advertisements for the brand.

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    Garera Free Fire

    Garera Free Fire is one of the top battle royale games that is developed by 111 Dots studio and published by Garera. The online mobile game became the most downloaded mobile game globally in 2019 and gained popularity in Asian and Latin American countries.

    As of 2020, the game has over 80 million daily active users globally and has also grossed more than $1 billion worldwide. The game has recently made Hrithik Roshan its brand new character in Free Fire, as a part of the Be The Hero Campaign.

    The actor will be known as Jai in the game and is said to be the first-ever playable Indian character in the battle royale game. Commenting on partnership, the actor said that he was thrilled to be a part of the Free Fire universe and that his official avatar, Jai, was very cool. He also added that, he hopes that all the players enjoy this unique experience.

    Rado

    Rado is one of the oldest and a globally recognized brand that was founded in Lengnau, Switzerland in 1917. The company is known for its innovative design and its use of revolutionary new materials to create some of the world’s most beautiful and durable watches.

    Rado is a pioneer in watch making and making its philosophy “if we can imagine it, we can make it” come true even today. The company signed Hrithik Roshan as it brand ambassador for six years and has so far appeared in some television commercials.

    In an interview, Matthias Breschan, CEO of Rado, said that, “Hrithik is the perfect fit for us as brand ambassador not only because he is a young and dynamic celebrity actor who is willing to take risks but he is also very accessible.”

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    Zebronics

    Zebronics is a home based company that was started in 1997 and is known for revolutionizing technology for the masses. Zebronics has its retail presence in more than 50,000 and has over 1,200 people across 31 Offices and 111 plus care centers across India. The company made Hrithik Roshan its brand ambassador in 2017.

    The company manufactures a wide range of high quality and reliable products such as Soundbars, Home Theatres, Headphones, Earphones, TWS, Gaming Cabinets, Monitor, Keyboards, Mouse, Power Banks, Computer, Mobile & Laptop Accessories, Fitness Bands, Smart Watch, CCTV, Smart Home Automation, Oximeters, Power UPS with best price, brand warranty and after-sales support.

    Commenting on the association, Mr. Rajesh Doshi, The Director of Zebronics said that, “Hrithik Roshan is undoubtedly the indisputable choice for our brand, because he is a versatile actor with youthful enthusiasm and positive inspiration, that will bring new vigor and dynamism to the brand to further expand our customer reach”

    Mountain Dew

    Mountain Dew is carbonated soft drink that was manufactured by PepsiCo. The drink was invested in 1970 by Tennesee beverage bottlers Barney and Ally Hartman. The company was acquired by the then by the Pepsi-Cola company in 1964.

    Mountain Dew accounts to more than 80% of citrus soft drinks in America and competes with companies like Company’s Mello Yello and Surge, and Dr Pepper Snapple Group’s Sun Drop. As of 2017, Mountain Dew represented over 6.6% share of the carbonated soft drinks market in America.

    Hrithik Roshan has been the face of the brand for a few years and been featured in many ad commercial of the ‘Darr Ke Aage Jeet Hai’ campaign which involves the actor to perform perform grand and larger than life action stunts that showcases overcoming one’s fears to achieve great success.

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    Paragon

    Paragon is a popular footwear company that was founded by P.V. Abraham, K.U. Thomas  and K.U. Scaria 1975 in Kottayam, Kerala. The company currently has over 10,000 employees and over 20 brands under its umbrella.

    Paragon has 24 manufacturing plants with a total production capacity of 400,000 pairs of footwear per day and 470 distributors across India. The company has grown to become the No.1 footwear brand in India. The company made Hrithik Roshan its brand ambassador in 2018 because the company wanted to expand their presence among the young generation of India.

    Joseph Zachariah, the Director of sales and marketing of the company in an interview said that, “Hrithik was our obvious choice to endorse the brand, because his image is in perfect sync with our brand’s key attributes. The actor’s appeal as a style icon cuts across all age groups and spans entire India. We are very happy to have him as our brand ambassador.”

    Arrow

    Arrow is a menswear brand that currently belongs to Arvind Fashions Limited. The company was at one point been ranked as the most trusted brand in the apparel category by the TRA’s The Brand Trust Report, India Study in 2018. The company has a legacy of more than 167 years and has also been in the country for the last 25 years.

    Arrow is known to have over 250 exclusive brand stores and more than 500 shop in shop counters all across the country. Hrithik Roshan was made signed as the brand ambassador for Arrow in 2020. The actor was recently featured in the brand’s ‘On Top of the World’ campaign.

    Commenting on the association with the company, the actor said that, he consider style to be an extension of one’s personality and suiting up with Arrow, adds a touch of the brand ethos to my appearance. He also added that, the brand’s seasoned adaptability to fashion trends since 1851, and decades of consumer trust, making him proud to endorse Arrow.

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    Oppo

    Oppo is a popular Chinese consumer electronics company that has its headquarters in Dongguan, Guangdong. The company offers a wide range of products are smartphones, audio devices, power banks, blu ray players and other electronic products.

    Oppo was initially launched in 2004 and has so far expanded to over 40 countries selling phones at over 200,000 retail stores. Oppo sells its smartphones offline in over 20 markets around the world, and offers online sales to more than 50 countries. Oppo signed both Hrithik Roshan and Sonam Kapoor as the brand ambassadors for the South Asia region.

    Both the actors have been the face of the company since 2014 and have been featured together in the multimedia ad commercials for endorsing the Oppo smartphones. Sky Li, Vice President of Oppo said that, “Both the actors are youth icons and are looked up to for their style and attitude, which is completely in tune with our brand philosophy, which is about young at heart and pursuing for perfection, and always be a trendsetter.”

    Nirma

    Nirma is well known group of companies that has its headquarters in Ahmedabad, Gujarat. The company manufactures products such as from detergents, soaps, cement, cosmetics, salt, soda ash, LAB and even injectables. Nirma has been one of the most trustable Indian brand for decades as it was started in 1969 by Karsanbhai Patel.

    So far the company has 25,000 employees, multiple manufacturing plants and a turnover of ₹20500 crore. Nirma’s network consists of more than 400 distributors and over 20 lakh retail outlets across the country.

    Hrithik Roshan was signed as the brand ambassador of Nirma in 2016 and has since then been featured in many of its ad commercials. One of the ads show Hrithik endorsing the Advance range of detergent with its new tagline “Sirf yaadon ko sambhaliye, daagon ko nahi”.

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    WhiteHat Jr

    WhiteHat Jr is a Indian ed-tech company and India’s first live online platform that teaches kids coding and math. The children also get to learn about topics such as structure, sequence, algorithmic thinking and even coming up with creative outcome such as animations and apps.

    The classes on this platform are taught through a live 1:1 session. WhiteHat Jr also helps in connecting top certified teachers to children. The latest ad campaign featuring Hrithik urges students to book their online coding class and sample the platform.

    Donear Industries Ltd

    Donear Industries Ltd is a pioneer in the textile industry as it has more than 4 decades of experience. The company has its headquarters in Mumbai, Maharashtra and offers a huge variety of fabrics for suiting and shirting across Poly Viscose, Cotton, Poly Wool and Terry Wool.

    It currently is available in more than 200 stores across the country and even export its fabric to over 30 countries. Donear fabrics has a network of 50 plus agents, over 300 wholesalers and more than a 50,000 retailers. Commenting on his association with the brand,

    Hrithik said that, he is extremely happy to be associated with the Donear Industries as it offers great quality and a wide range of menswear fabric. Given the strong brand image and the quality that the company is known for, I am sure that Donear will further enhance its position as the most preferred fashion brands for menswear in India.”

    Plasto Pipes and Tanks

    Plasto Pipes and Tanks is a leading manufacturer, a wholesaler and retailer. The company has a wide range of products such as Water Storage Tank, Pipe fittings, Agri Pipe, Tank Connector, Flush Tank, etc.

    The company was established in 1986 and since then is known for its tanks that have better flow properties, better longevity, more hygienic, easy to install and non-corrosion. Hrithik became the company’s brand ambassador and has even advertised the company by talking about the strength and reliability of their tanks in the TV commercial.

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    Flamingo Health

    Flamingo Health is flagship brand of a healthcare company known as Ascent Meditech. Ascent Meditech Limited is known to be aleading player in Orthopedic Soft Goods, mobility, wound-care and healthcare products. Flamingo currently has more than 300 products that are sold in 47 countries globally.

    Some of its well-known products that offer pain management solutions are the heat belt, knee cap, lumbar sacro belt and anklet. The company made Hrithik the brand ambassador for the brand and the actor was also featured in a campaign delivering a thought provoking message.

    John Players

    John Players is men’s apparel brand that is owned by the conglomerate ITC. The company was launched in 2002, and is known for men’s shirts, trousers, cargos, T-shirts, denims, outerwear, suits and accessories. The range of clothes at john players is crafted in line with the fashion preferences of youth and the most contemporary fashion trends.

    The brand is also affordable for making the brand accessible to people at large and is available in over 1500 multi-brand outlets across India. Hrithik became its brand ambassador in 2005 and in an interview mentioned that the brand just what today’s generation looks for- vibrant colours, playful styling and very comfortable fits.

    He Deodorants

    He’ deodorant is a brand that makes Men’s products and owned by the FMCG major Emami. He’ deodorant is available in 14 different variants that are named Smart, Confident, Extrovert, Recharge, Ruler, Magician, Arctic, Lagoon, Intense, Force, Passion, Power, Yin & Yang and Angel & Demon.

    The wide range of deodorant offers a wide range of fragrances from the citrus, oriental, marine, fougere, woody and to even the musk families. The actor was made the company’s brand ambassador, the actor is also featured endorsing its deodorants with its tag line ‘Be Interesting’ in the ad commercials.

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    Frequently Asked Questions

    Who is Hrithik Roshan?

    Hrithik Roshan is an Indian actor that predominantly works in the Bollywood Film Industry.

    What is the brand value of Hrithik Roshan?

    The brand value of Hrithik Roshan was estimated to be $38.9 million in 2019.

    What are the main brands endorsed by Hrithik Roshan?

    The main brands endorsed by Hrithik Roshan are Nirma, Oppo, Arrow, Paragon, Mountain Dew, Zebronics, Rado, Garera Free Fire, Cure.Fit, HRX.

    What are the other brands endorsed by Hrithik Roshan?

    The other brands endorsed by Hrithik Roshan are Hero Honda, He Deodorants, Coca-Cola, Reliance, Simpolo Tiles, Donear, Tata Tigor, John Players, Treeview Televisions, True Fan, White Hat Jr, Plasto Pipes and Tanks, Euro, Pratik, Flamingo.

    How much does Hrithik Roshan charge for brand endorsement?

    Hrithik Roshan is known to charge over Rs.1.5 to 2 Crores for per endorsements.

    What is the net worth of Hrithik Roshan?

    The net worth of Hrithik Roshan is over $35.66 million in 2019.

    Conclusion

    The actor is known by many names such as sexiest man in Asia, the Greek God, etc as he is the heartthrob of Bollywood. The Bollywood star has a strong social media presence, with about 35.9 million followers on Instagram and 30.6 million followers on Twitter. This is why many brands have made the actor face of their company. The actor is also the co-founder of his own brand HRX and constantly endorsing his and other big and upcoming brands.

  • Unheard and Shocking Secrets of Successful Entrepreneurs

    Top 5 Successful Entrepreneur’s Dark Secrets always kept hidden

    The success is an addiction and it’s only salvation is more success.  The entrepreneurs like Steve Jobs, Mark Zuckerberg , Bill Gates, Elon Musk and Roy Kroc have always inspire us to follow our dream. They are the role models for the young aspiring entrepreneurs, but today I’m going to burst the bubble of their perfect image and disclose the Successful Entrepreneur’s Dark Secrets. They are not perfect as we assume them to be, there are lots of hidden secrets present behind their multi millionaire empire. Let’s unveil the cloche from the life of these big business shark’s.

    Successful Entrepreneur’s Dark Secrets
    Steve Jobs
    Bill Gates
    Mark Zuckerberg
    Elon Musk
    Roy Kroc

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    Successful Entrepreneur’s Dark Secrets

    Steve Jobs

    The man behind the Apple, considered as the father of modern technology is not that amazing as we think of him. He has achieved this success by crushing many hearts and dreams. His success is built up on the sacrifice of many people, whom he cheated to achieve his dreams. The man has given us tremendous leap in technology, but he was called as devil advocate by his colleagues.

    Jobs has failed in his on many fronts. He failed as father and friend. It’s known by everyone that how he didn’t pay child support for his daughter Lisa and let her mother take all her responsibility. He was twenty when he had his daughter, but it’s no excuse to leave his responsibility because as a father it’s his duty to provide for his child, where he fails. Later, when he got successful he rekindles with his daughter and she stays with him, but that doesn’t make it right.

    A Dark Story of Steve Jobs You Must Know

    Steve Jobs

    He is a true example of ungrateful friend. In the 1970’s, Steve Jobs was working for Atari, designing the game “Breakout”. Overwhelmed with work with a deadline quickly approaching, he approached Steve Wozniak for help in finishing his project within the next four days. In exchange for his help, Jobs offered Woz half of what he was earning, which he said was $700.

    For four days, both Jobs and Wozniak worked day and night without sleep. When they were done, they were sick with mono and exhausted, but they finished the project before the deadline. Wozniak got his $350 cut as promised, and the two went on with their lives. But the only trick here is that Jobs received $5000 for the job not $700. This really broken the heart of Wozniak and he can’t believe that Jobs could have something so low.

    How He was at his Work Place

    Steve is one of the rude bosses of the century, he doesn’t care for his employees. He just need his job to be done with perfection. In his interviews he has to say that

    ‘I think Apple goes out of its way to try to enhance his reputation and safeguard the “great” Steve Jobs.

    Steve was not a nice “people person”. I meet a lot of CEOs who are, and they don’t have these kind of reputations and stories about their background.’

    His so called friend whom he backstabbed has following things to say about him.

    “He would directly confront people and almost call them idiots,” explained Wozniak. “But you know what? When they confronted him back and told him why they were right in understandable forms, he was just testing and learning, and he would respect those people and give them high privileges in the company.”

    “That was one thing he did respect – someone who believed enough in their own ideas to speak for him, not just shut up and be shy around him,” he said.

    Bill Gates

    The true example of your nerdy tech guy, but this guy bullies the people around him. The story of Gates success is on the every person’s mind and we all admire it, but he has some dark shades also in his success tale. He is the wealthiest man on the planet, Gates has a total assets assessed to be over $79 billion. He’s held the title of “world’s wealthiest individual” for 16 of the previous 21 years. Prime supporter of the world’s biggest PC programming organization, Microsoft, Gates was one of the characterizing figures of the PC transformation.

    Darker Side of Gates

    But to achieve this success he had done pretty dirty jobs also. Like, Bill Gates tried to steal all the stocks and stock options from Paul Allen as Paul was suffering from cancer and not thought that he would survive. He forced Apple to sell him Apple basic for Macintosh for $1 or he would stop making software for the machine, only to kill the project. There are many stories about Microsoft about to buy a company, does check out the company, get access to their source code and then cancel the deal only to give out almost identical apps later. Buying up competing companies just to close them down and more.

    Bill Gates has stolen many ideas of other entrepreneurs and sell them as his own. Steve Jobs stole the idea of mouse from Xerox and Bill being the smarter one stole it from him. If I can summarize him in one word then that would be con artist ,who knows what and when to steal. Paul Allen’s memoir “Idea Man” revealed many untold stories about Bill Gates:

    ”Gates loved to stay up all night working. One time, a new secretary came in on Monday morning to find him sprawled out on the floor. She thought he was unconscious, but he’d just been up all weekend and was taking a quick catnap.“

    Mark Zuckerberg

    Who doesn’t knows this young man, who made the world’s largest communication application in his Harvard’s room, Facebook. But when we see the success of Facebook it’s not all about Mark. He isn’t the soul creator of Facebook, but he was smart enough to in-cash this idea. Mark Zuckerberg stole the idea from Winklewoss brothers and published as his own. He never denies about it either, he just say that he is the smarter one to enhance this idea. That’s very unethical of him.

    What Mark has to say in his interviews about himself :

    “If you count the time I’m in the office, it’s probably no more than 50-60 hours a week,” Zuckerberg wrote in reply to a question about how many hours he works. “But if you count all the time I’m focused on our mission, that’s basically my whole life.” Instead of logging overtime at the office, the somewhat shy, lone wolf engineer said he spends most of his time thinking deeply, specifically about how to connect the world. “I take a lot of time just to read and think about things by myself.”

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    Elon Musk

    Elon is yet another successful entrepreneur who changes the definition of success. He has given us the top three companies Tesla, PayPal, SpaceX and for which we are always thankful to him. But he is power freak, he always wants to be the leader and NO was never a word for him. Elon Musk oases the power and true definition of alpha male. It is said that he told his wife on their wedding night that, “He is going to be the charge of this relationship ” which is disclosed by his wife in her book.

    He always grasp power and rules over his employees and wanted everyone in the office to follow and work as he want them to. He needs to be in power to survive. The authenticity of his darker story is not yet known. One of the rumors says that Mary Beth Brown who was a loyal assistant to Musk and had been working with him since the inception of SpaceX. She used to work very hard day and night. One day she went on to him and asked for raise in her pay or salary. Musk asked him to take some weeks off for vacation. Little did she knew as she resumed, she was fired by Elon Musk because everything was well without her. That’s a very rude move by him. He is one of the Successful Entrepreneur’s Dark Secrets in history.

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    Roy Kroc

    Roy Kroc
    Roy Kroc

    The guy who gave us McDonald’s but in reality he is the biggest thief of all times.  He stole McDonald’s from the original owners who were brothers and intentionally breached the franchising contract he signed with them. He publicly claims that McDonald’s is his restaurant and files lawsuit. The original McDonald brothers were not financial that strong to fight lawsuit against the big multinational company, so surrender their rights and sell it at discount. They had allegedly agreed to give the brothers 1% of all sales, but even then, the company screwed the brothers out of that.

    This is a huge case and you can find a movie about it called The Founder. The story had all the drama in it. McDonald duo really cared about authenticity, like adding real milk in milkshakes. Whereas Ray saw milk as an expensive commodity, swapped it out for powdered milk. This is about Roy Kroc, one of the Successful Entrepreneur’s Dark Secrets you know now.

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    These are the stories of Successful Entrepreneur’s Dark Secrets of all time and they are not as clean as they seem. There are many other big entrepreneurs present with dark secrets. No one is perfect and surely not these five are. They gave us something which we will cherish all our life. Their ideas are great, but they just select wrong approach. So tries to avoid the mistakes that they made in their life and be a honest entrepreneur.

  • Hiding Business Ideas – Yay or Nay?

    Having business ideas stolen is the worst nightmare of any businessperson. The fear of someone stealing your idea always remain in mind. That gives rise to the tendency of hiding ideas from everyone. That can, in many ways, turn out to be harmful to your business.

    But here’s what you need to know: Ideas don’t get stolen all that often. It’s a rare occurrence.

    And the reason? business startup Ideas by themselves have no value. Only putting ideas into action can be converted into something of value.

    Anyone who is serious about starting a business will not likely start it based on a stolen idea. And that person would also neither have your vision nor your passion. So, Hiding business idea – Yay or Nay? If you’re still not convinced that nobody will steal your idea, keep reading on.

    Let’s Dissect Who Would Actually Steal Your Idea
    Advantages Associated With Not Hiding Your Idea

    Let’s Dissect Who Would Actually Steal Your Idea

    Family/ Friends

    Your family and friends would be the last people on earth to steal your idea. If anything, they are your sources of motivation and inspiration. You also need them to provide feedback for your ideas. Who better to give you advice. Even though it be might just a teeny-tiny bit biased.

    If your friends’ circle is anything like the one in the actual ‘F.R.I.E.N.D.S’, great. They’ll stick by you through thick and thin, and celebrate your successes and support you doing your failure. And good friends most definitely do not steal your ideas. Who knows, you might have a friend who shares your enthusiasm and becomes your co-founder/business spouse.

    People Online

    It is good practice to do an online survey with your extended circle- i.e, your contacts through LinkedIn, Facebook, and Instagram. All of them are from such varied fields that they will lend you a new and sometimes surprising perspective. If you have a professional network, that makes it likely for someone with the expertise to validate your idea.

    You might ask, won’t the person with expertise steal my idea if he/she thinks it is good? The chances are, they are already working with some company. They might even be an investor, in which case, its good news for you! Again, you might find your future co-founder or your brilliant team from the online space.

    You might not believe the number of people just waiting for a chance to try something new but neither having the courage nor the resources to do so. This might be their opening.

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    Corporations

    When I say corporations, do not imagine visions of skyscrapers and business suits who will throw money at you for your idea. They don’t, they directly steal it.

    Okay, I’m kidding! Can’t I expect a sense of humor from my readers?

    Corporations seldom incorporate a new idea until they can see that it has the potential to generate revenue that can match theirs. A small scale enterprise’s profits are nothing but a dent in the car that is the corporation’s profits. They are the ones who will acquire you after you are really successful and will merge your company with theirs. You needn’t worry about them.

    So, by this I think I have answer the most unanswered question by this which is how to pitch an idea to a company without it being stolen?

    Startups

    They are too busy working on their own ideas and dreams to actually spare the time to steal yours. Ouch. I hope that didn’t dent your confidence too much.

    The end goal of any startup is to no longer be a startup. And that requires dedication and hard work. Even if they do get to know your idea and have the capability to implement it, they don’t have your passion. And that means they won’t put in the effort necessary to make YOUR dream come true.

    Even if they are in the same domain as the one you are trying to make a mark in, their line of thinking would lean toward collaboration rather than stealing. Nobody wants to owe their success to someone else.

    Hopefully, you are convinced enough that you are no longer paranoid about someone stealing your idea.

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    Advantages Associated With Not Hiding Your Idea

    Ideas / Suggestions

    You might get ideas that modify or tweak your idea into a better product from the general public. Business aspirants are always on the lookout for learning how to convert ideas for business or into businesses so they might offer suggestions. And if you do take them into account, they might expect credit which is the least you could do.

    Hiding Business Ideas - Yay or Nay?
    Ideas

    Validation

    Proof that you’re on the right track. And that is what you need to persevere with the idea. Of course, the best kind of motivation comes from within but outside motivation from unexpected places is good too. That will give you the push you need during the times you feel like giving up.

    Hiding Business Ideas - Yay or Nay?
    Validation

    Co-Founder

    As I have mentioned before, there’s no list of places to find your co-founder. They can be anywhere. Keep your eye out for them, and if they seem to be as interested and passionate about your idea as you are, consider yourself business-married! I do recommend a background check before you hire someone for such an important position though. Call up references and verify his/her work experiences before hiring them.

    Co-Founder

    Team

    You can also advertise. Describe the skills that you require for the job, and people will reach out to you. Of course, you need to be able to pay them a substantial salary, unless they are willing to do the work-first, reward-later scheme. You can always search for people without having to discuss your idea online, but if your idea is interesting, chances are people with the skill set will be attracted to you (in a business sense, jeez!)

    Customers

    This is the company that put out a quick video of how their product works while they were working on it. That garnered them a huge customer base who encouraged them to work on and release the project as soon as possible. Tech geeks went crazy over it.

    A quick demonstration, something like a forty-five to ninety-second video of how your product works can do wonders in terms of attracting customers even before the launch of the product. And you can trust word-of-mouth to do its rounds.

    Customer Feedback

    This is valuable. You must have seen reviews of products where the customers comment along the lines of ‘I wish it could do this as well’, or ‘adding this feature can make it more efficient’ etc. Take advantage of this. If possible put up your prototype for sale and invite reviews. This will help you modify your product according to your customer’s needs.

    Hiding Business Ideas - Yay or Nay?
    Customer Feedback

    Collaboration Offers

    It is probably a little too early to discuss collaboration but hey, it is never too early to plan right? Collaborations are a way for companies with complementing strengths to take advantage of each other. A company with an excellent product but lacking a wide customer base can partner with a company having the same. Sharing your idea keeps the options open.

    Investors

    This is the sweetest advantage of all. Investors are interested in your idea. Though funds can come from different sources- your own pockets, crowdfunding, bank loans, etc., professional investors taking an interest is a sign that your startup has real potential.

    Despite all of the above reasoning, if you are still worried, head over to the article on “How to protect your ideas from being stolen”. It is of course good to exercise precaution when it comes to your baby (startup) so I have highlighted a few ways to do the same. Happy idea protecting folks!

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    FAQs

    Can someone steal your business name?

    Yes, If you have a unique brand name or logo, protect it. It is a simple thing for someone to snatch it out from under you and claim ownership of it.

    What to do when someone steals your idea?

    Things that you should do when someone steals your best business ideas:-

    • Don’t react straight away
    • Evaluate the situation
    • Talk to the person
    • Prevention is better than cure

    How to keep investors from stealing your idea?

    • This Week’s Question
    • Talk to Your Lawyer
    • The NDA
    • Secure Log-in

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  • Payoneer – Should you use it for Your Business?

    We are living in a digital era where jobs and businesses are no more confined to our own country. Small and large businesses have risen above the border restrictions. They are spreading their wings globally. Therefore, Payoneer has entered the picture. It’s a hassle-free payment platform that allows users to send and receive money worldwide. It’s handy and serves you wherever you live.

    Is it worth it? Let’s find out how it serves you and where it’s lacking in performance so you can make a final decision.

    Payoneer Review
    Top Features of Payoneer
    Payoneer – Pros
    Payoneer – Cons
    Payoneer – Pricing
    Payoneer – FAQ

    Payoneer Review

    Payoneer has provided a super solution that we didn’t even know we needed. Its network is spread across many industries including Upwork, Airbnb, Wish, Getty Images, and Fiverr. It seems well-equipped to successfully bridge the gap between various countries. Now freelancers have another option to receive money from foreign employers.

    Once registered, he/she can enjoy automatic money transfers to their local bank account within 24 hours. Requesting payment from international clients has never been easier. Although PayPal, the top competitor of Payoneer, is still leading the race. Top reasons include price difference. Payoneer is working its way into the market well enough considering it’s still young in the business.

    Let’s see how it works.

    Operation is easy. Here’s a step by step guide for you:

    Payoneer Sing-in Page
    Payoneer Sing-in Page
    • Sign in to your Payoneer account
    • Click on ‘request a payment’
    • Select the payer from your list of contacts
    • Enter your personal (name, email) and payment details (currency, amount)
    • Quickly attach all the payment documents and work samples
    • Preview if you want.
    • And DONE.

    A link will be sent to the client on your behalf. When they click on the “Pay Now” link, they’ll be redirected instantly to their Payoneer platform and can send you the money.

    The most difficult task for Payoneer is obviously outdoing PayPal, which has been in the market for much longer time. It all comes down to the user experience though. If the app satisfies the users, more downloads will follow.

    Payoneer customers
    Payoneer Customers

    Top Features of Payoneer

    1. Easy onboarding: You can set up a Payoneer account direct from the website and it’s free. Since credit card is unacceptable, there’s no underwriting process.

    2. Local Currency account: Changing currencies is a tricky task but Payoneer lets you wash your hands off it. You’ll just receive money in your local currency.

    3. Marketplace Network: Its network has spread to almost all popular marketplaces and it’s constantly growing. So, you can always use the same app no matter which industry you work in.

    Payoneer – Pros

    • Hassle-free money transfer
    • Extremely beneficial for freelancers and contract workers. The freelance market is growing and global transactions are necessary. You’ll need this so you can focus on your work only and not the payment hassle.
    • You can increase your reach to the international market without worrying about the currency exchange.

    Payoneer – Cons

    • The cost of exchanging is higher as compared to some top competitors.
    • It charges an annual fee for using Mastercard.
    • According to some customers, the fraud detection system is a bit over reactive as it terminates the account over little suspicion.

    Payoneer – Pricing

    Getting paid directly by clients

    3% on credit cards

    1% on ACH bank debits

    Getting paid by marketplaces

    The fee as set by the marketplace itself

     

     

    Withdrawal in the same currency

    1.50 (dollar, euro, GBP)

    Withdraw to a local bank in local currency

    2%

     

     

    Pay

    1% ACH

    3% Credit Card

     

    1% local bank transfer






    Use Payoneer Now



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    Payoneer – FAQ

    Is Payoneer safe?

    Yes, Payoneer is 100% safe.

    What does Payoneer do?

    Payoneer is an online money transferring app that lets you send and receive money from foreign clients and automatically converts currency to your local one when a transaction is made.

    Does Payoneer work in India?

    Yes, Payoneer was banned by RBI earlier but is now functional again in India.

    Is it free to register on Payoneer?

    Yes, Registration is free on Payoneer.

    Final Words

    Freelancers and contract workers will dominate many service industries in a few years. Sign up today and open doors to the international market. Become a part of this top payment app that allows super-fast money transfer at a low cost.

  • Gojek – A SuperApp that has Everything from Transport to Food Delivery

    Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by Gojek.

    While Indonesia’s digital economy is predicted to rise to $124 billion by 2025, according to a 2020 research by Google, Temasek Holdings, and Bain & Company, the country’s 18,000 islands are spread across a region larger than the European Union, making it highly costly.

    As rivals bulk up in the fast-expanding market, Indonesian ride-hailing and payments provider Gojek and e-commerce leader Tokopedia are merging to form GoTo, a multi-billion dollar internet corporation. Gojek, based in Jakarta, is an Indonesian on-demand multi-service and electronic payment tech company.

    Gojek – Company Highlights

    Company Name Gojek
    Also known as Aplikasi Karya Anak Bangsa
    Parent Company GoTo
    Headquarters Jakarta, Indonesia
    Industry Technology
    Founded 13 October 2010
    Founders Nadiem Makarim, Kevin Aluwi and Michaelangelo Moran
    Areas Served Indonesia, Vietnam, Thailand, Singapore, Philippines, India, and Malaysia
    Website www.gojek.com

    Gojek – Latest News
    About Gojek and How it Works?
    Gojek – Name, Logo and Tagline
    Gojek – Mission and Vision
    Gojek – Founder and History
    Gojek – Products
    Gojek – Business Model
    Gojek – Revenue and Growth
    Gojek – Partnerships
    Gojek – Funding and Investors
    Gojek – Investments
    Gojek – Acquisitions
    Gojek – Awards and Recognitions
    Gojek – Competitors
    Gojek – Challenges Faced
    Gojek – Future Plans
    Gojek – FAQs

    Gojek – Latest News

    As of May 2021, Indonesian ride-hailing and payments provider Gojek and e-commerce leader Tokopedia are merging to form GoTo, a multi-billion dollar internet corporation.

    The merged company will be Southeast Asia’s largest privately-owned technology enterprise, spanning online shopping, courier services, ride-hailing, food delivery, and other services. By the end of 2021, it intends to go public in Indonesia and the USA. The firms claimed in a joint statement that their previous aggregate worth was $18 billion, based on fundraising in 2019 and early 2020.

    The combination of Gojek and Tokopedia, both of which are backed by global heavyweight investors, comes amid increased competition in Southeast Asia’s ride-hailing and food-delivery businesses. Food delivery, e-commerce, and e-payments are all on the rise as a result of the pandemic’s forced confinement.

    About Gojek and How it Works?

    Gojek (also known as Aplikasi Karya Anak Bangsa) is a company that creates on-demand smartphone apps for ride-hailing and a number of other services. The company’s app offers services such as transportation and logistics, food ordering and delivery, digital payment, shopping, news, and entertainment, among others, allowing customers to access travel, logistical support, and a variety of other activities with only a few taps on their smartphones.

    Gojek started out as a call center in Indonesia in 2010, connecting customers with courier delivery and two-wheeled ride-hailing businesses. GoRide, GoSend, GoShop, and GoFood were the only 4 services available when the app was first released in 2015.

    Gojek, which is now valued at $10 billion, has evolved into a super app that offers over 20 different services. GO-Academy, a software development training program, is also part of the corporation.

    Gojek – Name, Logo and Tagline

    Because the company’s name is derived from the Indonesian word Ojek, which means “motorbike,” the online service’s first logo portrayed a man riding a motorbike.

    Gojek' s Company logo
    Gojek’ s Company logo

    Michaelangelo Moran, the co-founder, is also noted for designing the firm’s first distinctive logo and branding the entire company, in addition to working as the business’s Brand Director.

    Gojek introduced its new company logo on July 22, 2019. Gojek’s s new brand logo, dubbed “Solv,” symbolizes the company’s evolution from a ride-hailing service to a super app that offers a number of clever methods to minimize difficulties.

    The Gojek brand was introduced with the tagline ‘Cerdikiawan.’ Cerdik connotes dexterity and a positive sense of time. It reflects, according to the creators, how the company solves problems for Indonesia despite the challenges it faces.

    Gojek – Mission and Vision

    Gojek’ s mission statement states, “Gojek is dedicated to creating and scaling up positive socio-economic impact on the ecosystem of users, driver-partners, business and micro-small-medium enterprise partners, as well as service providers.“

    Gojek – Founder and History

    Founded in 2010 with 20 motorcycle riders, the company now has a fleet of over 1 million drivers and, as of May 2018, offers 18 app-based on-demand services. The Gojek app was released in January 2015, and it has approximately 30 million downloads in less than two years. Gojek has teamed up with DBS, Singapore’s largest bank.

    Nadiem Makarim - Co-founder of Gojek
    Nadiem Makarim – Co-founder of Gojek

    Nadiem Makarim, Kevin Aluwi and Michaelangelo Moran co-founded the company Gojek. Nadiem holds degrees from Brown University and Harvard Business School and is an Indonesian native. He spent three years at McKinsey and Co-consulting before founding Gojek, which began as a small phone center with just 20 ojek drivers who ultimately became recruiters.

    Nadiem noticed as a frequent ojek user that ojek drivers spend the majority of their time waiting for passengers, while clients waste time walking around looking for an open ojek. Gojek was created to address this issue by creating a platform that allows drivers and riders to connect quickly and earn more money.

    Gojek’ s edge in negotiating the local regulatory framework and understanding the local market stemmed from the fact that it was founded and controlled by Indonesians. As a result, they were able to include features in their app that benefit both local drivers and local consumers. In 2017, Gojek brought on board 100 additional engineering graduates from India.

    Gojek – Products

    • Go-Pay is the fourth largest e-wallet service in Indonesia.
    • GoRide is Indonesia’s first online motorbike taxi service.
    • Go-Car is a car ride-hailing service.
    • Customers can use the Go-Blue Bird app to request Blue Bird cabs.
    • GoFood is an instant meal delivery service in Indonesia with over 250,000 merchants. Go-Food Festival is a Go-Food-branded offline food-court concept that sells food and beverages from Go-Food vendors.
    • Go-Mart is an app that allows you to shop for groceries at supermarkets that are listed in the Gojek app.
    • Go-Shop, like Go-Mart, allows users to buy items from stores that aren’t listed in Go-Mart.
    • Go-Transmit is an on-demand courier service that allows you to send things and documents inside a single delivery zone with no distance restrictions.
    • For moving heavy products utilizing pickup trucks, single-axle trucks, and single-axle box trucks, Go-Box is identical to Go-Send.
    • Go-Tix is a mobile app that sells entertainment tickets.
    • Go-Med is a mobile app that offers a medication delivery service, has teamed up with HaloDoc to develop the “Apotik Antar” functionality.
    • Customers can request a personal masseuse with Go-Massage.
    • Go-Clean is a professional house cleaning service that operates through an app.
    • Go-Glam is a personal hairdresser app that also offers nail care, waxing, and facial services.
    • Go-Auto is an app-based auto maintenance service that includes car cleaning and emergency repairs.
    • Go-Pulsa is a phone credit top-up service that operates through an app. Only
    • Go-Pay can be used to pay for Go-Pulsa.
    • Go-Bills is a service that allows you to pay your PLN electricity bills, buy PLN electricity tokens, and pay your BPJS insurance premiums all in one place.
    • Gojek’s loyalty program is called Go-Points. Each transaction earns the user a token, which they can exchange for prizes in the app.
    • Go-Play & Go-Studio: The company announced plans to enter the Internet content market through Go-Play, a video streaming service, and Go-Studio, a production firm. In September of this year, GoPlay will formally start its service.
    • Go-Pertamina is an on-demand fuel delivery service in conjunction with Pertamina, Indonesia’s largest oil company. It delivers fuel from the nearest Pertamina gas station to users.
    • Go-Nearby is a directory service that connects Go-Food merchants with clients of Go-Jek.

    Gojek – Business Model

    The Gojek business model works on:

    • Commissions from Companies – Several businesses join Gojek in order to benefit from its seamless operation and increased sales. Gojek, in turn, takes a modest commission on each successful order placed through the app.
    • The consumers’ commission – Gojek is a one-stop shop for its customers, offering a convenient answer to a wide range of issues. It avoids the hassle of having to switch between apps to meet various demands. Gojek also charges a little price on each order for this service, which users are happy to pay in exchange for Gojek’ s convenient and trustworthy services.
    • The Drivers’ Commission – For each order they deliver, individual drivers or delivery partners with Gojek pay a tiny commission to the platform. Given the benefits that the platform provides to drivers, a tiny commission fee seems like a good deal.

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    Gojek – Revenue and Growth

    Gojek’ s adventure has been incredible. Over the last few years, the startup has experienced significant growth.

    Gojek reported that the value of its annualized gross transaction value in 2020 will be USD 12 billion, up 10% from 2019. The year 2020 saw an almost threefold increase in GoPay transactions and the pay-later services.

    “What is suddenly booming is our online investment feature, probably because people find it easy to access,” said Gojek’s co-CEO Andre Soelistyo.

    The company’s grocery service showed a fivefold spike in annualized GTV, indicating that more people are relying on it for shopping during the pandemic. The number of merchants registered with GoFood surged by 80% to 900,000. This year, Gojek did not reveal which vertical contributed the most to its revenue.

    Gojek – Partnerships

    It established a partnership with Blue Bird, a large Indonesian taxi firm, in 2016. It also launched Go-Car, which expanded ride-hailing from motorcycles to vehicles, and Go-Auto, which provides on-demand mechanic services, in the same year. It was Indonesia’s first online transportation system by August 2016.

    It teamed with Google Maps to handle their GPS. Entertainment, Google Play, and MNC Vision are among the other collaborations. Suzuki Finance Indonesia, AEON Credit Service, and Bill Payment PLN, the national electricity supplier, and BPJS Kesehatan, the national health insurance provider.

    Gojek is teaming up with Unilever in September 2020. Gojek has partnered with Unilever through the freshly launched GoToko as part of this relationship. GoToko is a B2B digital platform that connects Indonesian MSMEs with global consumer products corporations.

    Gojek – Funding and Investors

    Date Round Amount Lead Investors
    May 10, 2021 Corporate Round $300M Telkomsel
    Nov 17, 2020 Corporate Round $150M Telkomsel
    Jun 3, 2020 Series F $375M Facebook, PayPal
    Mar 10, 2020 Series F $1.2B Mitsubishi Corporation, Mitsubishi Motors, Mitsubishi UFJ Financial Group, Visa
    Mar 4, 2019 Series F $100M PT. Astra International Tbk
    Oct 30, 2018 Series F $920M Google, JD.com, Tencent
    Feb 12, 2018 Series E $1.5B Tencent
    Aug 4, 2017 Series E – –
    Aug 4, 2016 Series D $550M Kohlberg Kravis Roberts, Warburg Pincus
    Apr 1, 2016 Series C $170M –

    Gojek – Investments

    Date Organization Name Round Amount
    May 12, 2021 MPPA Post-IPO Secondary IDR144.9B
    Mar 9, 2021 LinkAja Series B –
    Dec 18, 2020 Jago Post IPO-Equity $160M
    Feb 17, 2020 Blue Bird Group Corporate Round $30M
    Jan 29, 2020 ZULU Corporate Round –
    Jul 1, 2019 rebel Foods Series D $125M
    May 7, 2019 Safeboda Series B –
    Feb 3, 2019 JD.ID Venture Round –
    Oct 31, 2018 escapex Funding Round –
    Aug 10, 2018 PasarPolis Series A –

    Gojek – Acquisitions

    Acquiree Name About Acquiree Date Amount
    WePay WePay is an online payments services provider. Sep 14, 2020 –
    Moka Moka is an Indonesian fintech startup that focuses on building mobile point-of-sale (mPOS) for small and medium businesses. Apr 20, 2020 $130M
    AirCTO AirCTO is an AI-powered recruitment platform that helps companies recruit top developers. Jun 12, 2019 –
    Coins.ph Coins.ph delivers financial services over mobile to people who are currently unserved by traditional banks. Jan 18, 2019 $72M
    Promogo Promogo is a platform that enables brands to advertise on the body of individually owned vehicles. Sep 17, 2018 –
    PT RUMA To increase dignity, income, and access for the poor through technology. Dec 25, 2017 –
    Midtrans Midtrans empowers eCommerce through technology. Dec 15, 2017 –
    Kartuku Kartuku is a third party processor and payment service provider delivering end-to-end, mission critical payment solutions in Indonesia. Nov 15, 2017 $50M
    LOKET LOKET is the first event management platform in Indonesia that gives the freedom of selling tickets on one’s own website. Aug 8, 2017 –
    Leftshift Technologies We build loveable products for iOS and Android Nov 8, 2016 –

    Gojek – Awards and Recognitions

    Gojek is the only firm from Southeast Asia to reach Fortune’s list of “56 Companies That Changed the World” for 2017. Gojek was the first Southeast Asian firm to be named twice in Fortune’s Top 50 Firms That Changed The World list, rising to number 11 out of 52 global companies in 2019.

    Other international honors include the Top Performer in ASEAN Award in 2017, Ernst & Young’s Entrepreneur of the Year Award, and the Superior Products and Services Award in 2016.

    Among the national honors are –

    • Top 15 Most Valuable Indonesian Brands 2019,
    • Top 3 Brand Performer and Top 3 Most Powerful Transportation/Logistic Brands,
    • Top 3 Netizen Choice in Online Transportation,
    • The BrandZ Top 15 Most Valuable Indonesian Brands 2019,
    • The BrandZ Top 15 Most Valuable Indonesian Brands 2019,
    • The BrandZ Top 15 Most Valuable Indonesian Brands 2019,
    • The BrandZ Top 15 Most Valu Best Indonesia Mobile App 2015,
    • Best Startup Category Work Life Balance,
    • Most Admired CEO in Indonesia 2017, and
    • Most Creative in Solving Economic Challenges 2017.

    Gojek – Competitors

    The top competitors in Gojek’s competitive set are Lyft, Grab, Uber, ComfortDelGro, Gett, MOIA, Ryder, Easy Taxi Services, and Space Neobank.

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    Gojek – Challenges Faced

    Grab has dominated the ride-hailing sector in Singapore since the Grab-Uber merger. Grab will have to enhance its service quality now that Gojek, an Indonesian startup, has joined the Singapore market. One of the biggest issues Gojek is facing is a driver shortage, as many self-employed drivers are now listed with Grab.

    Gojek is looking forward to organize driver recruitment efforts and offer larger incentives to potential drivers in order to overcome this. Allowing drivers to withdraw money from their virtual wallets is one of them, as is a points system that can be converted into cash and a minimum hourly wage.

    Another issue that Gojek is dealing with is a lack of demand. With so many transportation alternatives in Singapore, Gojek will have to rethink its product to stand out from the crowd. To address this, Gojek will need to expand its service offerings, such as its proposal to offer housecleaning services.

    Gojek’s quick expansion and market dominance have sparked widespread media attention, as well as criticism from traditional taxi and ojek providers. The Minister of Transportation briefly stopped Gojek and other ride-hailing firms from operating. The restriction was met with widespread opposition, with the hashtag #SaveGojek becoming Indonesia’s most popular trending subject on Twitter.

    The ban was removed the same day when President Joko Widodo denounced it, saying that the government should not limit innovation and that the prohibition will have a negative impact on the lives of many Indonesians who rely on Gojek’s services. Budi Karya Sumadi, Indonesia’s Minister of Transportation, enacted a new regulation for online taxis in October 2017. The former PM 26, which regulated the use of private cars for public transportation, was replaced by PM 108.

    Gojek – Future Plans

    A new ride-hailing service has launched. Gojek plans to expand its operations outside of Indonesia this year, according to co-CEO Kevin Aluwi.

    “Over the last few years, we’ve definitely invested relatively smaller amounts in our markets outside of Indonesia. But, we think this is the year where we really want to spread our wings and be a regional and global business,” Aluwi, founder of Gojek, added.

    Gojek began as a ride-hailing service in Indonesia in 2010 and has subsequently expanded into food delivery, digital payments, and logistics. It now has a presence in over 200 cities across five Southeast Asian nations, with Indonesia remaining its most important market.

    Aluwi also declined to comment on “merger speculations,” saying Gojek’s priority is to grow its business. Gojek is “extremely optimistic” about 2021, he added.

    “We do think that 2021 is going to be a growth year and, more importantly, we spent 2020 really investing in a lot of the business and product and operational fundaments, such that profitability and long-term sustainability looks meaningfully better year-over-year,” he said.

    Gojek – FAQs

    What does Gojek do?

    Gojek is a company that creates on-demand smartphone apps for ride-hailing and a number of other services. The company’s app offers services such as transportation and logistics, food ordering and delivery, digital payment, shopping, news, and entertainment, among others, allowing customers to access travel, logistical support, and a variety of other activities with only a few taps on their smartphones.

    Which country is Gojek based in?

    Gojek is an Indonesian company.

    Who founded Gojek?

    Nadiem Makarim, Kevin Aluwi and Michaelangelo Moran co-founded the company Gojek.

    How does Gojek make money?

    On each successful order placed using the app, Gojek charges a tiny commission fee. Gojek is a one-stop-shop for its customers, offering a convenient answer to a wide range of issues. It saves time by eliminating the need to switch between apps to meet different demands.

    Which companies do Gojek compete with?

    The top competitors in Gojek’s competitive set are Lyft, Grab, Uber, ComfortDelGro, Gett, MOIA, Ryder, Easy Taxi Services, and Space Neobank.

  • PolicyX – Bringing Trustworthy Insurance Plans to the Country

    Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by the organization it is based on.

    Insurance is a tricky business. And with so many market providers, it becomes more difficult for the consumers to choose and decide as to which one is the best for them. In 2013, PolicyX.com entered this scenario with the vision to become the most trusted insurance marketplace in the country. Launched by Mr. Naval Goel, PolicyX.com strives to serve every Indian with convenience and choice of best insurance plan suited for them.

    Get more Insight on the Company Profile of PolicyX, Founders of PolicyX, Competitors, Revenue Model, Growth, Challenges Faced, Achievements and many more.

    PolicyX.com – Company Highlights

    Startup Name PolicyX.com – Insurance Web Aggregator Pvt. Ltd.
    Headquarter Gurgaon, Haryana
    Sector Insurance
    Founder & CEO Naval Goel
    Founded 2013
    Website policyx.com

    PolicyX.com – About & How It Works?
    PolicyX.com – Founders & Team
    PolicyX.com – Work Culture
    PolicyX.com – How It All Started?
    PolicyX.com – Name, Tagline & Logo
    PolicyX.com – Startup Challenges
    PolicyX.com – Revenue Model
    PolicyX.com – Competitors
    PolicyX.com – Funding
    PolicyX.com – Growth
    PolicyX.com – Recognitions & Achievements
    PolicyX.com – Future Plans
    PolicyX.com – FAQs

    PolicyX.com – About & How It Works?

    PolicyX.com is an IRDA approved web insurance aggregator providing a one-stop-shop for various insurance plans to its customers. The company has successfully completed more than 7 years in the insurance industry. Customers can compare different types of insurance policies like health, life, car, travel, etc. and get a free quote and purchase instantly.

    PolicyX.com provides the consumer with expert guidance in selecting health, life, travel & corporate insurance plans from some of the top insurance providers in the country. It runs complex algorithms to find plans that fit customer requirements, complete with live quotes, dynamic cash flow charts (first in the segment), videos and infographics within seconds, thereby helping them make an informed choice.

    In a short span, it has managed to generate trust with more than 0.6 million page visits/month. With the online availability, unbiased quotes and transparent services, policyx.com is helping consumers in choosing the best insurance policy out of all the available options for them. The company has tie-ups with leading insurance companies of India to serve best to the consumers.

    The team of PolicyX.com understands that they are in a business that affects life and it is crucial to provide the right customized advice to people. Thus the team has been focusing on building trust among customers towards online insurance.

    “Still, many people in India are used to following the traditional way of buying insurance. We need to fill that gap. We are also looking forward to creating awareness among those who still think of insurance as a wastage of money”, said Mr. Naval Goel, Founder, PolicyX.com

    Complete transparency, unbiased advice, customer support, and integrity are some of the values that are non-comprisable at PolicyX.com.

    PolicyX.com – Founders & Team

    Naval Goel is the founder and CEO of PolicyX.com.

    Naval Goel – Founder of PolicyX.com

    Naval has expertise in the insurance sector and has a professional experience of more than 5+ years in the finance domain. Before venturing into the field of entrepreneurship, Naval had worked with top companies like AIG in New York as a part of their valuation team.

    Naval is an MBA from IIFT, Delhi. He is also a Chartered Financial Analyst from CFAI, US and an FRM Certified professional from Global Association of Risk Professionals, US. He is also an Associate Member of the ‘Indian Institute of Insurance’.

    Naval is an ardent tennis lover and likes to have a game with his friends whenever he gets time to do so. Apart from that, he is fond of reading and investing in stock markets.

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    PolicyX.com – Work Culture

    PolicyX.com is an employee-friendly company with more than 300+ employees. The work culture is really great.

    “We are allowing our employees to learn and explore. We work as a team and make sure about their personal growth as well. We do have a proper training team to provide proper guidance in the hour of need.” Added Mr. Naval Goel, Founder, PolicyX.com

    PolicyX.com – How It All Started?

    Talking about the inception story, entrepreneurship was Naval Goel’s dream from the beginning. While working with AIG in New York, he noticed a gap in the country within the insurance sector. According to him, at that time most of the Indian population was still going the traditional way to purchase insurance.

    Because of the lack of technology in the insurance domain where only a few companies were covering the same, Naval could strongly sense a huge potential in this area and ample space for innovation. Then, he decided to seize the opportunity and established PolicyX.com in 2013. And that’s how PolicyX.com was born.

    And believe it or not, thorough research and experience in the same domain were enough to validate the idea. Today, it is one of the fastest-growing IRDA approved insurance comparison portals. PolicyX.com helps customers in comparing different insurance policy quotes and products like life, car, health, travel, investment, pension, and business among others.

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    The goal is simple: Not a single grievance, not a single claim rejection, not a single surprise element at the time of claim. PolicyX.com will struggle hard to get there no matter what. This is what the PolicyX.com brand stands for. It wants to be the best so that consumers can trust them when it comes to insurance purchases.

    PolicyX Logo

    The logo of PolicyX.com has 3 colors and a person with a ring around him. The ring signifies protection and colors signify vibrancy and happiness.

    PolicyX.com – Startup Challenges

    The most prominent problem with the insurance industry in India is that it is a highly complex product and most of the products sold in the market are not beneficial for the customers. Most policies are sold for either tax benefits or investments and intermediaries have been pushing products where margins are higher.

    PolicyX.com offers much-needed transparency in the system by giving the power of choosing the right policy to the customers. They can also compare features and benefits at a click of a button and purchase through an online seamless process.

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    PolicyX.com – Revenue Model

    PolicyX’s  revenue model is commission based. The company gets paid by the insurance companies when customers purchase policies after comparing from its portal.

    PolicyX.com – Competitors

    PolicyX’s top Competitors are

    • PolicyBazaar
    • ApnaLoanBazaar
    • ETInsure
    • mPokket
    • Greenlife Insurance
    • BankBazaar
    • Turtlemint
    • Acko
    • CreditMantri
    • FundsIndia and many more.

    PolicyX.com – Funding

    PolicyX.com has not raised any amount (Bootstrapped) till date (2020)

    PolicyX.com – Growth

    The team of PolicyX.com is focusing on building trust among customers towards online insurance. Still, many people in India are used to following the traditional way of buying insurance.

    “We need to fill that gap. We always make sure that we are providing unbiased and helpful services to the customer.” Said Mr. Naval Goel, Founder, PolicyX.com

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    PolicyX.com – Recognitions & Achievements

    • Reached 100+ employees within 3 years of launch in 2016 without external funding.
    • PolicyX.com named one of India’s best InsurTech of the year at the 9th India Digital Awards and 13th India Digital Summit! by IAMAI – 2018.
    • PolicyX.com in the list of top 10 Most Promising Insurance Startups in Silicon Magazine – 2018.
    • PolicyX.com in the list of the 30 best Emerging Fintech Startups by Inc42 – 2018.
    • PolicyX.com featured as one of the leading insurance comparison portals in India by ‘The Week’ – 2018.
    • PolicyX.com in the list of Top 100 most innovative InsurTech companies in the world! – 2018.
    • PolicyX.com in the list of 10 most Recommended Insurance Solution Provider.
    • Signed Virender Sehwag as its brand ambassador in 2019.

    PolicyX.com – Future Plans

    Moving ahead, PolicyX.com also looking forward to creating awareness among those who still think of insurance as a wastage of money. We want to build the gap with trust and awareness so that we can live in a safe and secure India. For the same, we are planning to come out with several different helpful campaigns” Concluded Mr. Naval Goel.

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    PolicyX.com – FAQs

    What is PolicyX.com?

    PolicyX.com is an IRDA approved web insurance aggregator providing a one-stop-shop for various insurance plans to its customers.

    Who are the Founders of PolicyX.com?

    Naval Goel is the founder of PolicyX.com

    How much Funding is raised by PolicyX.com?

    PolicyX.com has not raised any amount (Bootstrapped) till date (2020).

  • How to Send money from US to India or Singapore using Google Pay

    Google Pay is a digital payments app that is a subsidiary of Google. Google Pay is a digital wallet that was initially released in the year 2015. It is one of the most commonly used digital wallets in India. Recently the company has announced that it would let users to send money through Google Pay from US to India and Singapore. Let’s look at the further details of this new feature offered by Google Pay.

    Google Pay Announcement
    Banks that are eligible to Transfer money through Google Pay
    Limitations of Money Transfer through Google Pay
    Steps to Transfer money from US to India through Google Pay
    FAQ

    Google Pay Announcement

    Google Pay has announced that it would let users in the United States to send money to their friends, family and relatives in India and Singapore. This is an official mark of the entry of Google Pay into the remittance service market.

    According to World Bank, India is one of the biggest overseas remittance receivers even though in the year 2020 the country had seen a drop in the remittance received of around 9% to INR 5,58,100 crores due to the global economic slowdown and the coronavirus pandemic.

    There has been a rapid growth in the foreign remittances with the increase of migrant workers in the developed countries across the globe.

    Banks that are eligible to Transfer money through Google Pay

    Google has partnered with Western Union and Wise in order to provide the new service through the Google Pay app. Google had conveyed in a blog post that Western Union will offer free transfers while sending money through Google Pay until the 16th of June.

    Google has also conveyed that Wise will provide free transfer only for the first time the customer sends money through Wise on transfers up to USD 500 (around INR 36,700). However, Google has not yet officially announced the exact transfer fee that will be charged by the service provider after their series of free transfers.

    Limitations of Money Transfer through Google Pay

    One of the major limitations of this new foreign transfer feature or service provided by Google Pay is limited only to two countries that is India and Singapore. However, the tech giant has conveyed that by the end of the year they have plans to expand their services to around 280 countries globally.

    Another important point to be noted is that the foreign transfers through the Google Pay app are limited to individual users. This means that the new feature doesn’t let the individuals from the United States transfer money to any business organizations in India or Singapore.

    Another important point to be noted is that users from India will not be able to transfer money to the United States. This feature or service will be available for the US users using Google Pay app.

    Steps to Transfer money from US to India through Google Pay

    Here are the steps to be followed for the users who would want to send money from the US to India or Singapore.

    Step 1 – To send money through Google Pay, firstly you will have to search the user on the Google Pay app.

    Step 2 – Tap the pay button and choose either Western Union or Wise.

    Step 3 – You will have to ta continue and see the exact amount of money that the recipient will receive.

    Step 4 – Again Tap continue and choose how would you want the recipient to receive the money, you will be able to choose between UPI or through cash pickup.

    FAQ

    Does Google pay require a bank account?

    Yes, Google Pay requires a bank account.

    Is Google pay available in USA?

    Google Pay is available in USA and You can also send money from US to India.

    Can I send money from USA to India using Google pay?

    Google Pay will now let users in the US to send money to their friends and families in India and Singapore.

    Conclusion

    The new service would enable the tech giant to mark a spot in the foreign remittance market. The company plans to expand to more than 200 countries and territories to Western Union and around 80 countries through Wise by the end of this year.

  • Top 10 Innovative Startups in Vietnam

    Vietnam has been emerged as a hub of startups since the year 2017. They have created a close competition with Singapore and Indonesia. The government has bought relaxations to many regulations in order to support the startups in the country. Let’s look at the top startups of Vietnam.

    Nano Technologies
    Duong Minh Logistics
    Sky Mavis
    Axie Infinity
    MODMO
    Foody.Vn
    Tiki.Vn
    iCare Benefits
    Sendo
    Haravan
    FAQ

    Nano Technologies

    Nano Technologies is a Financial service and a fintech company. It was founded in the year 2020 and is located in Hanoi, Vietnam. The startup lets the workers to gain access immediately to their earned wages through a mobile application called VUI.

    The company claims that it provides services to more than 20,000 employees from various companies and around 50-60 % of the employees opt for the services as soon as the employers give them a choice.

    Duong Minh Logistics

    Duong Minh Logistics are involved in logistics, transportation, supply chain management and freight service. The company was founded in the year 2005 and is located in Ho Chi Minh City, Vietnam.

    The startup uses a unique approach in the logistics sector which will save trillions of dollars every year. They provide a service integrating sea and land transportation from the South to North Vietnam. It is one of the top 10 logistic startup in the Asian countries.

    Sky Mavis

    Sky Mavis is a blockchain and a Video Games startup company. It was launched in the year 2019 and is located in Ho Chi Minh City, Vietnam. The company aims at simplifying blockchain technology. They are concentrated on bringing thee benefits of blockchain to everyone through fun and practical applications.

    The startup is also a developer of one of the most popular blockchain games in the world called Axie Infinity.

    Axie Infinity

    Axie Infinity is a blockchain based video game. It is a game that is concentrated on collecting, raising and battling fantasy creatures called Axies. It was founded in the year 2018 and the company is located in Ho Chi Minh City, Vietnam.

    Axie Infinity game
    Axie Infinity Game

    Axie Infinity is one of the original Non-Fungible Token (NFT) Product and the company claims to have been working on NFT’s even before anyone cared about it. The citizens of Philippines are even earning cryptocurrencies by playing this game.

    MODMO

    MODMO is a E-mobility based startup company. It was founded in the year 2019 and is located in Ho Chi Minh City, Vietnam. The company provides e-mobility creating zero emission urban transportation vehicles. It focuses on design and versatility.

    The startups have the most high-tech production line globally where more than 150 robots are involved in their production process.

    Foody.Vn

    Foody.Vn is a restaurant and food-related review mobile application which is available in the South East Asian countries. The startup belongs to the lifestyle category and their total funding has not been disclosed. Currently they have raised capital through a Series C funding. One of the major investors of the startup is Tiger Global Management.

    Tiki.Vn

    Tiki.Vn Website
    Tiki.Vn Website

    Tiki.Vn is an e-commerce based startup company located in Vietnam. The startup focuses on the social aspect of e-commerce shopping. The startup belongs to the enterprise solution category and their total funding has not been disclosed. They have raised capital through a Series A funding. Their major investors are Seedcom, Cyberagent Ventures.

    iCare Benefits

    iCare Benefits is financial services startup located in Vietnam. The startup focuses on providing services to bank, individual users and corporate clients. The startup belongs to the payment category and their total funding has not been disclosed. They have currently raised capital through Series C funding and the major investors of the startup is Unitus Impact.

    Sendo

    Sendo is a Vietnam based e-commerce website. The startup provides e-commerce services such as clothing, home-ware, cosmetics, tech accessories and many more. The startup belongs to the transaction category and their total funding has not yet been disclosed. They have currently raised capital through a Series A funding and the major investors of the startup are Beenos INC., SBI holdings, etc.

    Haravan

    Haravan is a Vietnam based technology company. The startup provides assistance for providing foundation to businessmen which is the first service provided by a Vietnam company. The startup belongs to the infrastructure category and the total funding has not yet been disclosed. The startup has currently raised funding through a seed round and one of the major investors of the startup is Seedcom.

    FAQ

    How many startups are there in Vietnam?

    There were 123 startups in Vietnam in 2020 compared to just 44 in 2017.

    Is Vietnam a good place to invest?

    With its low labor costs and a stable yet growing economy, Vietnam is a more cost-effective alternative to China.

    How many entrepreneurs are there in Vietnam?

    There are approximately 5 million entrepreneurs in Vietnam.

    Conclusion

    We can see a lot more startups emerging in the country during the recent years that are concentrated more on technology and e-commerce solutions. The country has been driven by internet penetration, young demographics and smartphone adoption.

  • What is “Hire to Fire” Policy and why Amazon would do that?

    Amazon.com is an American based e-commerce and technology giant. It is one of the big 5 companies in the United States in the tech sector. Amazon is considered to be the world’s most valuable brand and the most influential economic and cultural force in the world.

    Recently Amazon’s managers have accused the company of hiring employees on the Hire to Fire Policy. Let’s look at what exactly is Hire to Fire policy and how Amazon is involved in it.

    What is Hire to Fire Policy?
    Amazon Managers about Hire to Fire policy
    What is URA Goals?
    Amazon Employees on Social Forums
    FAQ

    What is Hire to Fire Policy?

    Certain people who have been claiming to be working in Amazon have been posting allegations against the company on various social media forums conveying that the company is involved in a Hire to Fire policy.

    The company has been hiring employees just to fire them within a year. A recent report from several managers working with the e-commerce giant has conveyed that they have to do it in order to meet their annual targets.

    Here the managers hire people internally or externally whom they intend to fire within a year. These people are hired just to meet the annual turnover targets which are called Unregretted Attrition (URA).

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    Amazon Managers about Hire to Fire policy

    Amazon has a goal to fire a certain percentage of its employees on a yearly basis. Three Managers of the company had revealed that they were facing a lot of pressure to meet the goal that they had to hire the people just to fire them later.

    A manager had conveyed that they hire people in order to meet the goals and fire them later just to protect the rest of the team. This practice is informally been called as hire to fire.

    What is URA Goals?

    Every manager is said to have a URA target and a URA target is the % of employees which the company wouldn’t regret firing one way or the other. Even the most senior Amazon executives including the CEO Andy Jassy are said to closely maintain their URA target.

    There was an example quoted by the publication where Amazon Web Services teams which fell short to achieve their URA goals in 2020 and were forced to make up the difference in the year 2021. However, an Amazon spokesperson had denied that the company hires employees with the intention of firing them. He also added that the company does not use the phrase Hire to Fire.

    Number of Amazon.com employees
    Number of Amazon.com employees

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    Amazon Employees on Social Forums

    Since the report was published there has been a lot of discussion about these in social forums. The Amazon employees have started speaking about the practice on online forums.

    On the Hacker News Forum of Y Combinator, a person who claimed to be working as a principal software engineer at Amazon conveyed that the company’s weakest link was its managers. He added that there are very few managers who have the technical knowledge and a lot of them who lacked technical depth and also added that a lot of capable engineers are being fired due to these incompetent managers.

    Another user who claimed to be in the manager position had agreed that there is a lot of scope for them to mess up the careers of the people through incompetent practices.

    There was a discussion even on Redditt where some Amazon managers had said that they hire people to fire them later just to meet the internal turnover goal every year.

    FAQ

    How many employees does Amazon have?

    Amazon currently has 1,298,000 employees.

    Is Amazon the largest employer?

    Amazon is the one of the largest employer after Walmart.

    What company has the most employees 2020?

    TCS has most number of employees with 448,400 as of 2020.

    Conclusion

    However, this practice is not just seen in Amazon but in a lot of other companies. A user had conveyed that this had earlier happened in Microsoft. A user from a tech company had conveyed that his manager had casually told him that the last spot in a team was for the person they would hire and later fire.

  • Hexometer – Website Health and Performance Monitoring Solution!

    Unlike traditional uptime and page speed monitoring platforms that just tell you when your website is down or slow, Hexometer’s AI assistant works in real-time to suggest growth opportunities and detect anomalies in your website health and performance before they burn a hole in your pocket.

    Hexometer is a comprehensive 24/7 monitoring tool that checks your website’s health and performance, alerting you when things go wrong before they impact your business.

    Hexometer – Company Highlights

    Startup Name Hexometer
    Headquarter Yerevan, Armenia or DE, US
    Sector SaaS, Website’s Performance Monitoring
    Founder Stepan Aslanyan, Vahe Sargsyan and Chris Closset
    Founded 2019
    Legal Name Hexact, Inc
    Website hexometer.com

    About Hexometer and How it Works
    Hexometer – Target Market Size
    Founders of Hexometer and team
    Hexometer – Business Model and Revenue Model
    Hexometer – Startup Launch
    Hexometer – Growth
    Hexometer – Recognition and Achievements

    About Hexometer and How it Works

    The team has over 18 years of experience building their e-commerce businesses, as well as helping medium to large multinational brands grow online.

    Hexometer founder Stepan Aslanyan says, “We understand the online challenges you face each day as well as the unique opportunities you can take advantage of to grow your business. We live and breathe e-commerce just as you do and our platform evolves as new algorithms and best practices come around”.

    Hexometer Logo
    Hexometer Logo

    Hexometer works 24/7, checking your website for downtime, page speed performance issues, security vulnerabilities, page & JS errors, email deliverability, SEO optimization or server configuration problems.

    Everything happens in the cloud, and you can get started in minutes – no code changes required.

    Hexometer – Target Market Size

    Hexometer provides 24/7 website monitoring and marketing insights to protect your business and grow your sales. From solopreneurs, small and medium-sized businesses, agencies to global brands, it got you covered. No code changes required.

    Founder of Hexometer and team

    Stepan Aslanyan is the founder and CEO of Hexometer. Vahe Sargsyan is the co-founder and CTO at Hexometer.

    Stepan Aslanyan | Founder and CEO-Hexometer
    Stepan Aslanyan | Founder and CEO-Hexometer

    Chris Closset was an early customer, and they managed to convince him to join as a partner and CMO after a few weeks of discussions about how they could improve their service. He now helps direct the strategic direction of the group and heads the marketing strategy.

    Hexometer – Business Model and Revenue Model

    Hexometer has a subscription business model, with a free forever option available.

    Hexometer – Startup Launch

    Hexometer is active on various social media channels including Reddit, Quora, and ProductHunt. The growth has mainly been organic based on word of mouth, recommendations from existing users, as well as from social media and press mentions.

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    Hexometer – Growth

    Hexometer is growing fast, and this growth is providing them with a unique opportunity to help businesses at scale during these difficult times. Now more than ever, online businesses need to protect their online sales, ensure their sales funnels are working, and maximizing their traffic from paid ads and organic searches.

    In the last 6 months, Hexometer has implemented a wide range of product improvements including Zapier integration, Google search console data, in-depth page-speed monitoring, JS error detection, malicious code monitoring, Google sheets integration, and security header checks to name a few.

    And the team is looking forward to improve its feature set to make it even easier to thrive online whether you are a business owner managing your website, an agency looking after client websites, or developer working on web development projects.

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    Hexometer – Recognition and Achievements

    Hexometer received several awards from ProductHunt.com including:

    • #1 Product of the Week (November 2019)
    • #1 Product of the Day (November 2019)
    • #2 Product of the Month (November 2019).

    FAQs

    What is Hexometer?

    Hexometer is a comprehensive 24/7 monitoring tool that checks your website’s health and performance, alerting you when things go wrong before they impact your business.

    Who are the founders of Hexometer?

    Stepan Aslanyan, Vahe Sargsyan and Chris Closset are the founders of Hexometer.

    When was Hexometer founded?

    Hexometer was founded in 2019.

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