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Mark Zuckerberg- The Founder and CEO of Facebook

Mark Zuckerberg is famous for Facebook. He was one of the youngest self-made billionaires just at the age of 23. In 2020, in the month of August, he came under the centibillionaire list. He’s an American media magnate, internet businessman, and philanthropist. He serves as Facebook’s president, chief executive and controlling shareholder. He is also co-founder of the Groundbreaking Starshot Solar Sail Spacecraft Production Project and serves as one of its board members.

Mark Zuckerberg – Biography

Name	Mark Elliot Zuckerberg
DOB	14 May, 1984
Nationality	American
Occupation	Internet Entrepreneur
Title	Founder & CEO of Facebook, Inc and Co-founder of Chan Zuckerberg Initiative
Spouse	Priscilla Chan
Children	2
Net Worth	$115 Billion (May 2021)

Mark Zuckerberg – Early Life
Mark Zuckerberg – Education
Mark Zuckerberg – Beginning of Facebook
Mark Zuckerberg – Career
Mark Zuckerberg – Controversies
Mark Zuckerberg – Philanthropist
Mark Zuckerberg – Awards and Achievements
Mark Zuckerberg – FAQs

Mark Zuckerberg – Early Life

Zuckerberg was born on May 14, 1984, in White Plains, New York. His parents are Karen, a psychiatrist, and Edward Zuckerberg, a dentist. He along with his three sisters, Randi, Donna, and Arielle, were brought up in Dobbs Ferry, New York, a small Westchester County village about 21 miles north of Midtown Manhattan. His ancestors hailed from Germany, Austria and Poland and Zuckerberg was raised in a Reform Jewish household. At the age of 13 he had a Star Wars-themed bar mitzvah.

Mark Zuckerberg – Education

Zuckerberg excelled in classes at Ardsley High School. He transferred to the private school Phillips Exeter Academy after 2 years. He won prizes in mathematics, astronomy, physics, and classical studies. In his youth, he has also attended the Johns Hopkins Center for Talented Youth summer camp. Zuckerberg stated that he could read and write French, Hebrew, Latin, and ancient Greek on his college application. He is not just a nerd and was the captain of the fencing team.

Mark Zuckerberg – Beginning of Facebook

Zuckerberg had already gained a “reputation as a programming prodigy” by the time he started classes at Harvard, and he studied psychology and computer science. He was a member of Alpha Epsilon Pi and of Kirkland House. He wrote a software he called CourseMatch, which enabled users to make class selection decisions based on other students’ choices. After a short time, he created a new software that he originally called Facemash, allowing students to pick the best-looking individual from a collection of images. According to Zuckerberg’s roommate, Arie Hasit, at that time, “he built the site for fun.” Hasit explains:

We had books called Face Books, which included the names and pictures of everyone who lived in the student dorms. At first, he built a site and placed two pictures or pictures of two males and two females. Visitors to the site had to choose who was “hotter” and according to the votes there would be a ranking.

The site went up over a weekend. But the college turned it off by Monday morning, because its popularity overwhelmed one of Harvard’s network switches and stopped students from accessing the Internet. A lot of students complained at that time that their photos were being used without permission. But Zuckerberg publicly apologized, and articles were run in the student paper saying his platform was “absolutely unacceptable.”

Zuckerberg began writing code for a new website the following semester, in January 2004. On February 4, 2004, Zuckerberg launched “TheFacebook,” which was originally located at thefacebook.com. When he launched Facebook, three of his seniors (Cľ Winklevoss, Tyler Winklevoss and Divya Narendra) in Harvard after 6 days accused him of purposely misleading them into thinking that he would help them create a social network called HarvardConnection.com, while instead using their ideas to develop a rival product.

The three protested to The Harvard Crimson, and in response, the newspaper launched an investigation. Those three filed a lawsuit against Zuckerberg after Facebook was launched officially. It resulted in a settlement. They agreed a settlement for 1.2 million Facebook shares.

In his sophomore year, Zuckerberg had dropped out of Harvard to complete his thesis. In January 2014, he recalled:

I remember really vividly, you know, having pizza with my friends a day or two after—I opened up the first version of Facebook at the time I thought, “You know, someone needs to build a service like this for the world.” But I just never thought that we’d be the ones to help do it. And I think a lot of what it comes down to is we just cared more.

Zuckerberg received an honorary degree from Harvard on May 25, 2017. He gave a commencement speech on the same day at Harvard’s 366th commencement Day.

Mark Zuckerberg – Career

Wirehog

A month after Zuckerberg launched Facebook in February 2004, there was launch of i2hub, another campus-only service created by Wayne Chang. The i2hub focused on sharing files peer-to-peer. At the time, both i2hub and Facebook gained media attention and were rising exponentially in users and advertising. In August 2004, Zuckerberg, Andrew McCollum, Adam D’Angelo and Sean Parker founded a rival peer-to-peer file sharing service called Wirehog.

Platform, Beacon, and Connect

Zuckerberg unveiled on May 24, 2007 the Facebook Forum, a forum for programmers to create social applications within Facebook. A lot of applications were developed within weeks and some already had millions of users. It has expanded to more than 800,000 developers around the globe developing Facebook Platform applications.

Zuckerberg revealed on November 6, 2007 Beacon, a social advertisement system that allowed people to exchange information with their Facebook friends based on their surfing habits on other pages. For instance, eBay sellers might automatically let friends know what they’ve got for sale via Facebook news feed as they list items for sale. The software was under investigation due to concerns regarding the privacy of groups and individual users. Zuckerberg and Facebook failed to respond quickly to the complaints and Zuckerberg published a blog post on Facebook on December 5, 2007, accepting responsibility for Beacon ‘s issues and offering users a simpler way to opt out of the service.

In 2007, Zuckerberg was named to the TR35 list by MIT Technology Review as one of the world’s top 35 innovators under 35. Zuckerberg revealed on 23 July 2008 Facebook Link, a user-friendly version of the Facebook Site.

Critics say that, Facebook bought Instagram because it was scared of Twitter and Google+. Facebook bought Instagram for $1 billion in 2012. Today Instagram has over 1 billion users. Instagram contributes $20 billion to Facebook annual revenue. Facebook purchased Whatsapp– the messaging sevice, for $19 billion in February, 2014.

Mark Zuckerberg – Controversies

Saverin lawsuit

A complaint brought against Facebook and Zuckerberg by Eduardo Saverin was settled outside court. While settlement terms were sealed, the firm confirmed Saverin ‘s role as Facebook’s co-founder. After the settlement Saverin signed a non-disclosure agreement.

Pakistan criminal investigation

Pakistani Deputy Attorney General Muhammad Azhar Sidiqque initiated a criminal investigation into Zuckerberg and Facebook co-founders Dustin Moskovitz and Chris Hughes in June 2010, following a Facebook hosting of a “Draw Muhammad” contest. The investigation identified the German woman who produced the contest as anonymous. Sidiqque requested police from the country to contact Interpol to have Zuckerberg and the other three arrested for blasphemy. Facebook’s website was briefly blocked in Pakistan on May 19, 2010, before Facebook removed the contest from its website in late May. Sidiqque also demanded that its UN representative discuss the issue with the UN General Assembly.

Cambridge Analytica Data Breach

Zuckerberg appeared before Congress in April 2018, after it was reported that the company had exchanged consumer data with Cambridge Analytica, a political consulting firm.

Forbes has attributed the dramatic decline in the stock price of Facebook following the company’s July warning investors of slowing growth and profit margins to the increasing effect of the battle between profit and privacy, citing the story of Cambridge Analytica and the rising inability of Facebook to protect users from harmful misuse and misinformation.

Palestinian terror attacks

Israeli cabinet minister Gilad Erdan accused Zuckerberg of having some responsibility for Palestinians’ deadly attacks on Israelis on 2 July 2016.[93] According to him, the social network was not doing enough to ban posts on its site that encourage violence against Israelis. “Sure of the blood of the victims is on the hands of Zuckerberg,” Erdan said.

Hawaiian land ownership

Zuckerberg filed eight “quiet title and division” lawsuits against hundreds of Hawaiian natives in January 2017 to buy small tracts of land which they own. This land is located within the 700 acres of land which Zuckerberg had purchased in 2014 on the Hawaiian island of Kauai. After learning that Hawaiian land ownership law differs from that of the other 49 states, he dropped the lawsuits.

Paul Ceglia

Paul Ceglia, owner of a wood pellet fuel business in Allegany County, upstate New York, filed a lawsuit against Zuckerberg in June 2010, alleging 84 percent Facebook possession and demanding monetary damages. According to Ceglia, on April 28, 2003, he and Zuckerberg signed a contract for an initial fee of $1,000 entitled Ceglia to 50 percent of the website ‘s sales, as well as an additional 1 percent stake in the company every day after January 1, 2004, until completion of the website. At the time, Zuckerberg was creating other ventures, including Facemash, Facebook’s precursor, but the domain name thefacebook.com was not licenced until 1 January 2004. Facebook spokesperson Barry Schnitt told a reporter that Ceglia ‘s lawyers had unsuccessfully pursued a settlement outside court.

On 26 October 2012, federal prosecutors arrested Ceglia, charging him with mail and wire fraud and “tampering, damaging and manipulating evidence in a conspiracy to defraud the Facebook founder of billions of dollars.” Ceglia is accused of creating emails in order to make it appear that he and Zuckerberg exchanged specifics of an early version of Facebook. Before it was launched, some law firms withdrew from the case, and others after Ceglia ‘s arrest.

Mark Zuckerberg- Philanthropist

2010

Zuckerberg contributed an undisclosed sum to Diaspora- a personal open-source Web server that operates a distributed social networking programme.

Zuckerberg founded the Start-up: Education foundation.

Zuckerberg had donated $100 million to Newark Public Schools, the public school system of Newark, New Jersey on September 22,2010.

Zuckerberg, along with Bill Gates, and investor Warren Buffett signed “The Giving Pledge” on December 9, that year, in which they vowed to devote at least half of their wealth over time to charity. They also invited others among the wealthy to donate 50 percent or more of their wealth to charity.

2012

In December, Zuckerberg and his wife Priscilla Chan announced that over the course of their lives they would give the majority of their wealth to “advancing human potential and promoting equality” in the spirit of The Giving Pledge.

2013

On December 19, Zuckerberg announced a donation to the Silicon Valley Community Foundation of 18 million Facebook shares, to be completed by the end of the month. Based on the valuation of Facebook as of then, the value of the stock was $990 million.

On December 31, the donation was recognized as the largest charitable gift on public record for 2013.

The Chronicle of Philanthropy put Zuckerberg and his wife at the top of the 2013 annual list of the magazine’s 50 most generous Americans.

2014

Zuckerberg and his wife Priscilla Chan donated US$25 million to fight the Ebola virus disease, specifically the West African Ebola virus epidemic on October.

2015

On December, Zuckerberg and Chan pledged to transfer 99% of their Facebook shares, (then at US$45 billion) to the Chan Zuckerberg Initiative, the organization that focuses on health and education. Instead of the funds transferring immediately, it transfers over the course of their lives.

Instead of creating a charitable organisation to donate the value of the stock to, as did Bill Gates, Warren Buffett, Larry Page, Sergey Brin, and other billionaires, Zuckerberg and Chan opted to use a limited liability company ( LLC) structure. Some journalists and academics have even come to say that, the Chan Zuckerberg Initiative conducts philanthrocapitalism.

2016

The Chan Zuckerberg Initiative gave $600 million in 2016 to establish the tax-exempt charity Chan Zuckerberg Biohub, a collaborative research facility near the university in San Francisco’s Mission Bay District from California, San Francisco, with the goal of promoting cooperation and collaboration between UCSF, University of California, Berkeley and Stanford University scientists. The developed intellectual property would be jointly owned by Biohub and the house institution of the discoverer. Unlike foundations such as the Bill and Melinda Gates Foundation that give up all research that is funded to free public access and reuse, Biohub maintains the freedom to sell any research that it supports. Inventors will have the option of making their findings open-source, with permission from Biohub.

2020

Amidst the COVID-19 pandemic, Zuckerberg donated $25 million to Bill and Melinda Gates Foundation. It is a foundation that is searching for treatments for the disease. He announced $25 million in grants to support local journalism that was impacted by the pandemic. And $75 million in advertisement purchases in local newspapers by Facebook, Inc., where Facebook will market itself.

Mark Zuckerberg – Awards and Achievements

A film entitled ‘A Social Network’ was released in 2010, focused on the life of Mark Zuckerberg and his Facebook founding years. The film has received eight academy award nominations.
In 2010 he won ‘Person of the Year’ by ‘Times’ Magazine.
‘CEO of the Year’ at 6th Annual Crunchies in 2013.
He was also named on Time 100 list four consecutive times between 2009 and 2012. Time 100 is a list of around the world’s 100 most influential individuals.
He was also the youngest self-made billionaire just at the age of 23.
August, 2020 he was able to come under the “centi-billionaire” list.

Mark Zuckerberg – FAQs

Who Mark Zuckerberg?

Mark Zuckerberg is an American media magnate, internet businessman, and philanthropist. He is the founder of Facebook and serves as Facebook’s president, chief executive and controlling shareholder.

What is Mark Zuckerberg age?

As of 2021, his age is 37.

What is Mark Zuckerberg net worth?

As of May 2021, according to Forbes, the net worth of Mark Zuckerberg is $115 Billion.

How old was Mark Zuckerberg when he became a billionaire?

Mark Zuckerberg was just 23 years old when he became a billionaire.

May 8, 2021

Here’s How Technology Can Ease Your Design Work. Read On To Know More

Regardless of whether you are a designer or aspiring to be one, it is crucial to know that technology’s correct use will assume a significant role in your success.

Innovation moves at the speed of light in this day and age. Hence designers need to be on the same track to take the leverage of the developing technology fully. So exactly what impact does technology have on design work?

Two decades ago, we wound up in amazement at how computers and the Internet changed countless aspects of our life. Exactly when we thought technology had reached its pinnacle, we were also happily mindful about what was going to unfurl.

Gone are the days when you require a pen or paper as instruments to make your designs. Today, inventive software and the latest devices have made a designer’s life immensely simple, efficient along with making it interesting.

Analog Vs. Digital
Ways In Which Technology Is Easing Out Design Work

Analog Vs. Digital

It is straightforward to comprehend how technology impacts how designers work and how they present their designs. The analog designers have discussed the disadvantages of technology, debating that it kills imagination and brings down the design value.

The narrative stays the same as before until the analog designers start using and appreciating the proficiency, productivity, and smooth workflow that 21st-century designing tools and cmms software readily allow.

It is highly unlikely that anyone would decide to use the monotonous pen, erasers, and typewriters over the existing 3D printers and tablets specifically created for graphic designing work.

Ways In Which Technology Is Easing Out Design Work

The following are some of the incredible ways in which technology is assisting graphic designers all around the world.

Impact On The Communication Medium

Analog designers employed dependence on the verbal exchange and print media in publicizing various designs. Its major downside was that it restricted the audience base that they could reach out to.

Nearly everybody in the 21st century has an online account. This implies that the graphic designers of today’s era have access to a huge pool of clients.

You may have come across different advertisements via social media with varying sizes and content and asked yourself why you could not find them on print media.

This is because websites and social media platforms have opened doors to various campaigns for new-age designers, ranging from huge corporate covers to little updates from your favorite car magazine.

Better Quality

Advanced devices, for example, graphic tablets, are a definite way to create high-quality designs in comparison to manual devices, such as typewriters.

You are sure of getting designs with better resolution while operating with software and ground-breaking gadgets that can deal with various designs, file formats, and color tones.

It is also fascinating to work with Adobe Photoshop to create perplexing and intricate digital work, which was considered difficult to accomplish a decade ago.

Accessibility

Because of professional software readily available, practically everybody has access to top-quality tools that can help you make unimaginable designs, even if you do not possess the knowledge to do so.

Nonetheless, you can learn to operate this software by accessing a wide variety of tutorial videos that teach everything in detail to help you become a better designer.

With the rise of technology, knowledge is becoming commonplace for everyone to access at just a click of a button easily.

More Productivity

Every industry relies on the efficiency of its workers, and graphic design is no exception. It must have been exhausting and monotonous for analog creators who had to undergo the process of arranging the models, creating design mock-ups, and eventually cutting out the pages to create a single design.

These days, you can create multiple professional-looking designs within a short period just by using your tablet or your computer.

Quick Feedback

The utilization of social media and websites is becoming more common in the 21st century due to various gadgets easily available at our disposal.

Millions of individuals use every social media platform, implying that a designer can instantly review and feedback from different individuals online.

As a result, you can use this constructive criticism and seize the moment to identify your weaknesses and learn and get inspired by other creative designers.

It is possible to receive feedback from a client in a blink of an eye due to technology use.

Streamlining The Workflow

The future desktop permits any individual to send orders, make remarks, or get real-time updates to access the information. The growth of this technology has enabled collaboration where everyone has their dashboard.

Designers, clients, directors, executives, production managers, or anyone involved in the process has easy access to your designing work. This implies – No more emails, sending messages, or waiting patiently for someone to reply.

This new-age, youthful, and paperless generation of graphic designers anticipates instant access to everything. Technology has streamlined the entire process so much that they do not have to be on the phone or on email all the time to receive information.

You can also easily eliminate unnecessary downtime in your designing workflow by using the best preventive maintenance software. This helps you become proactive in dodging gear and software downtime by scheduling regular maintenance based on the asset condition data.

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More Interactivity

Interactivity is one of, if not the most fundamental benefit of the digital era. We are currently able to make designs where individuals interact with the things they see on the screen.

This has opened up an entire scope of ways that creators can involve the viewer in the piece. For instance, if you want to see football results on a website, you can tap on the football on a search results page and be redirected to a specific website.

Along with the fact that people are looking at designs online, they are also immensely engaged with the piece.

Evolution Of The Graphic Design Career

Alongside the development of computerized graphics technology, professions in this field have likewise evolved.

Designers are no longer constantly glued to their computers. With graphic designing software now easily accessible on smartphones, it has made it a lot simpler for them to work from any place globally.

Additionally, it is also simpler for organizations to outsource talented individuals without recruiting in-house.

This is an enormous advantage for both the designer and the organization. An organization can save a lot of money on leasing an enormous space and pay just a flat fee for the designing services they are looking for.

Conclusion

Every designer will always remain thankful for the various graphic designing tools, irrespective of the fact that an expanding number of amateurs are utilizing them to create low-quality designs. But we all start somewhere, don’t we?

Technological development and out of the box thinking are the critical factors of becoming one of the best graphic designers.

Next time when you come across an extraordinary visual, think about the fact that it is one of a kind blend of the incredible speed of technology and the extremely imaginative mind of a graphic designer.

The creativity behind the design that lures you into a different universe is possible only due to the designer’s innovativeness and the use of technology that has enabled it.

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FAQs

What is technology in design?

Design technology is the study, design, development, application, implementation, support and management of computer and non-computer based technologies for the express purpose of communicating product design intent and constructability.

What technology is used in design?

The use of CAD (computer-aided design) CAM (computer-aided manufacture) allows products to be designed and manufactured more quickly and accurately. Computer modelling and simulations allow designers to test designs for functionality before investing in tool up for production.

How does technology help design?

Designers can have access to limitless choices of colours and shades that they can mix and match for their designs. A tool called Coolors can help designers pick the best colors.

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May 8, 2021
All the latest donations from Big Companies to India for fighting the Second Wave

The increase in the Covid-19 cases has led to a lot of tech companies and big corporates helping India during the crisis. The second wave of the coronavirus pandemic has hit India really hard with the daily cases rising and the deaths in the country increasing.

The citizens of the country are finding it hard to access the basic medical requirements. This is when a lot of companies have come forward to help India. Let’s look at the latest donations from big companies for India in order to fight the Covid-19.

Pfizer
Mahindra Group
Sony Group
Qualcomm
SpiceJet
Google
Xiaomi India
Microsoft
Amazon
Paytm
Ford Motors
One Plus
FAQ

Pfizer

Pfizer which is an American based pharmaceutical company has announced that it will send medicines for the treatment of Covid-19 to India. The company announced that it would send medicines worth USD 70 million (around INR 510 crores) to India from its distribution centres.

Albert Bourla, the CEO of Pfizer said in an email that to the employees of India that the company is deeply concerned about the critical condition faced by India due to Covid-19.

Mahindra Group

The chairman of Mahindra Group, Anand Mahindra has launched a project in Maharashtra called as Oxygen on Wheels. This project will focus on the easy transportation of oxygen from production plants to hospitals and homes amid the coronavirus pandemic.

Anand Mahindra had posted a tweet that conveyed that in the current situation oxygen is the key to reduce mortality and the problem is not the production of oxygen but the transportation and he added that the company is trying to bridge the gap between that.

Sony Group

Sony Group had also recently announced that the company will provide a donation of around USD 1 million (around INR 7.4 crore) in order to help India amid the Covid-19 crisis. The company said that it would procure PCR testing machines and oxygen for medical purposes by donating the amount to UNICEF and other organizations.

Qualcomm

Qualcomm which is a chipmaker had recently announced that it would provide a donation of around USD 4 million (around INR 30 crores) to India amid the surge of Covid-19. The company said that one of the key strains faced by the company is the shortage of medical supplies and lifesaving equipment.

The company said that they have been thriving hard and actively working towards finding ways to provide relief to the Indian community through philanthropic activities.

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SpiceJet

SpiceJet has announced that the cargo arm of the company SpiceXpress has airlifted more than 4,400 oxygen concentrators from different countries such as Hong Kong, USA, Singapore and China in the last two weeks.

The company added that they have transported around 34 million doses of vaccines for Covid-19 to India between January 12 and April 12 and also around 700 concentrators from China to New Delhi.

Google

Sundar Pichai, the CEO of Google and Alphabet announced that the company will be donating an amount of INR 135 crores to India in order to fight against the coronavirus pandemic. The company will provide funding for two grants.

The first grant will be given to GiveIndia in order to provide cash assistance to the families that have been affected due to the Covid-19 crisis. The grant amount is expected to be around INR 20 crore.

The second grant will be given to UNICEF in order to provide oxygen and the required medical supplies and testing equipment.

Xiaomi India

Xiaomi which is one of the leading smartphone companies in India had announced that it would provide an amount of around INR 3 crore to India. The amount will be for procuring 1000+ oxygen concentrators.

The CEO of the company conveyed that these oxygen concentrators will be supplied to the hospitals and the state governments according to the requirement. The company also announced that it is working together with GiveIndia to help the frontline workers of the country by raising a capital of INR 1 crore.

Microsoft

The CEO of Microsoft Satya Nadela had announced that the company will help India in purchasing critical oxygen concentrators and also added that the company will use its resources, voice and technology to help India fight against the Covid-19 pandemic.

Amazon

Amazon India has been collaborating with different organizations in order to urgently lift oxygen concentrators of around 8,000 and 500 BiPAP machines from Singapore. The company conveyed that it would take care of the cost for lifting the concentrators and BiPAP machines through Air India and other national carriers.

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Paytm

The CEO of Paytm Vijay Shekhar Sharma had announced on Sunday that the Paytm foundation will raise an amount of INR 2 crore through donations for oxygen concentrators. Paytm also added that they would add the same amount of money towards the donation from the company.

Ford Motors

Ford Motors which is an American based automobile major has announced that the company will donate surgical masks of around 50 lakhs in number, 1 lakh N95 masks and 50,000 gowns in order to fight against the Covid-19 second wave in India.

The company said that Ford Fund will also donate around USD 200,000 (around INR 1.5 crore) to support various organizations that are providing Covid-19 relief in Brazil and India.

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One Plus

One Plus one of the premium mobile phone brands in India has said that it would donate around 400 oxygenators in order to help the Indians to fight against the Covid-19 pandemic. The One Plus Global community has also expressed their interest in making contributions for the country.

The company has also tied up with GiveIndia in order to raise funds for the frontline workers in India.

FAQ

What is the current Covid situation in India?

India is in the midst of second wave of COVID-19 and is recording over 300,000 daily coronavirus infections.

Who issued the official name of COVID-19?

The official names COVID-19 and SARS-CoV-2 were issued by the WHO on 11 February 2020.

Which Covid vaccine is used in India?

Covishield vaccine, manufactured by Serum Institute of India, and Bharat Biotech’s Covaxin are being used for the vaccination programme.

Conclusion

The second wave has been increasing and the situation of the country is worsening as days pass. The governments and different organizations are working together in fighting the second wave of the Covid-19 pandemic. There are also many individual volunteers and foundations providing support to fight the country against the deadly virus.

May 8, 2021
10 Best Steps to Create a Successful Mobile App
With the increase in the smartphone users and the development in the field of operating software’s, the mobile app market is expanding very quickly. You need to be very specific about the approach for mobile app development so that app is accepted by audience. By creating a mobile app you can be a successful entrepreneur and reach your right audiences. Here we have discussed some 10 steps to creating a successful app.

To create a successful mobile application you need to follow a systematic approach to app development. Many successful traditional entrepreneurs are not very acquiescent with how to start developing an app or how to make a successful app rather they prefer to keep their business offline. Similarly, with the growing demand of the customers, the scenario of the business marketplace has changed a lot. Almost every individual has a smartphone and who want to do work with ease.

Therefore, every offline business irrespective of their size or service offering are implementing app development in their business to reach masses in no time. Furthermore, every entrepreneur has a question in mind, what to do during the development period of the application. So, lets read about the whole planning process of the pre-app development phase and the precautions that you must take to create a successful mobile application to help you out in app development stages.

Steps to Create a Successful Mobile App
Steps to Create a Successful Mobile App

Idealise

Your idea must be smart enough to solve the problem of your target audiences. Because the main ideology behind every business is to solve or fulfill the customer needs by providing product or service. The idea should be unique and productive, the people should be able to connect with the idea of your app.

If you think your idea can bring out a change in a particular industry, sector or marketplace then you should plan about the next developmental step involved in shaping your startup idea in the right direction.

Revenue Model
- Freemium apps – These apps are free to download, but certain features and contents are locked, and they can only be accessed through a purchase.
- Paid (premium) apps – The user needs to purchase the app from the app store in order to use it. Because of the cost barrier of this model, a mobile marketing strategy is critical to demonstrate the unique, superior value compared to the free apps.
- In-app purchases – This model works by using the app to sell digital or physical products as a mobile commerce sales channel.
- Subscriptions – This model is similar to freemium apps, but brings a benefit of a recurring stream of revenue.
- In-app ads – This is possibly the simplest model of all because there is no cost barrier for the user. As with any advertising space, it’s important to never sacrifice user experience in order to gain more ad space.
Plan your revenue model. Well, you are investing in the app for a good return, so plan your revenue generating model beforehand. Decide whether you want to go for paid ads or sponsored ads or you opt for some different method.

Area Of Operation

The important step before designing the app is to determine the area of operation you want for your app. For example, do you want to target the local or the global audiences? Another important decision is to select a specific operating system like an Android app, iOS app or a Windows app, or simply you want to target all the three platforms.

According to experts, in the beginning, you should go for the Android platform, as they have more users attached to it and after getting success on this you can move to the other platform. Geolocalization features within your app allow you to target your customers geographically, while push notifications let you offer them your service or product when they’re most likely to be looking for it or need it. Don’t waste it, target it!

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Legal Work

Handle all the legal work. Make sure to follow each legal procedure before entering the app market. No matter how small your app business is when you start out, it’s usually well worth the expense to form a limited liability entity and make sure you are protected financially. Although taking help from professionals is recommended.

Before you begin negotiations with other developers, designers, copywriters, etc. that you are considering working with, ask them to sign an NDA and agree that they won’t disclose any sensitive info about the project. It serves as evidence that you took steps to protect your confidential information, and it will make the other person think twice before they do anything.

Complete all the legal paperwork and clearances beforehand, so that they won’t cause any issue in your startup growth stages. Like, make all legal documents with care and don’t ever forget to patent your app before the launch.

Marketing

Marketing your app starts long before you ever bring it to market. Before you start telling your development team to start building out your app with a million different things, reach out to your customers and talk to them. Before you start telling your dedicated development team to start building out your app with a million different things, reach out to your customers and talk to them.
After all, you want to make sure that whatever you are building, is going to be just right for them. Your customers are busy people so try to give your customers something in return for helping you.

Incentivize your customers by offering them a special discount, or some form of educational content. Retain your customers by letting them know about your app’s idea and ask them what they would really like to see in it. How can you make the app more savvy and beneficial for them? Remember, your customer has their own audience and if you’re able to convince them, you’ll be hitting all the right notes to bolster your success and staying power.

Mobile App Development Process | MLSDev

Social Media Marketing

The first step is to create a profile on all social platforms. Make sure you establish yourself on Facebook, Twitter, YouTube, Instagram, and even Snapchat. Advertise your product or service on different social media platforms and use distinguish tactics to get the attention of the audiences. Likewise, do creative blogging, post interesting videos, and images related to the app.

Whether your app is brand new, been available for years, or still in the development process, you can leverage social media marketing to drive lots of downloads. Engage with these people. Give them a reason to follow you. Make sure your content is interesting and informative.

What does your app do? Who is your company? How will your app help improve the lives of users? YouTube usually doesn’t come to mind when most people think of social media marketing. But that’s a terrible misconception. If you don’t have a YouTube channel, you’re missing out on a huge opportunity. That’s because YouTube is the preferred method for users who want to watch video content.

Customer Satisfaction Policy

Stay in touch with the users. Always reply to the customer’s questions immediately and satisfy them with your answer, it doesn’t matter how silly the question is, you need to answer them all. That is why creating in-app feedback forms is an exceptional opportunity for all app owners to get precious feedback on their app.

It is advisable to spot the services that need to be implemented and offer users an alternative channel to complain rather than posting comments on the web. Your customers will always remember how easy it was for them to reach out to you in their time of need and how swiftly you could deal with their problems.

Before to Launch

Offer interesting initial offers. To get people to download your app and let them try out the app free for some time period. This will attract more attention and people always go for the free app and that will create the market for your app. So, offer some catchy initial offers. Launching a poll to how many users want to opt for a free trial could tell you the excitement about your app amongst the target users.

Use social influencers to promote your service or product by giving them a personalized unboxing kit so that they can guide their subscriber to buy or use your product or service. This will significantly help you to kickstart your entrepreneurial journey by creating a mobile app to offer unique or improved service/product to your target consumers.

Feedback

Solicit feedback proactively by messaging your app’s customers at an opportune time, or at the right mobile moment, with a message showing you care about their experience and opinions. Even if the customer does not currently have feedback, prompting keeps your internal feedback loop top-of-mind with customers.

Effective feedback loops should be a frictionless part of the customer experience and designed in a way that resonates with the needs of a mobile customer: quick, non-intrusive, and optimized for mobile screens. Once a customer does provide feedback, let them know that it’s valued! Customers should know that their feedback isn’t going into a black hole. Take the time to respond to each customer who leaves feedback.

Regardless of whether the feedback is positive or negative, recognize it for what it is—a gift—and give thanks. If the app feedback contains a suggestion or bug report, let the customer know where this issue stands in your roadmap. And once that issue has been fixed or that suggestion has been implemented, reach back out to inform the customer of the impact their feedback made.

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Create a Reliable Privacy Policy

And finally, you must include a privacy policy while creating a mobile app because it will collect any sensitive information from users. This policy needs to cover what information is being collected and how is it used. The benefit of taking this step so early is to give yourself plenty of time to get any legal consulting you may need, as well as plan and implement safety measures within the app.

The security of your app is one of its key points, and you must ensure it is being built early in the development. Your users’ data is your most valuable asset, and you should ensure you have processes in place to collect, handle and store this data, as well as to manage any potential security risks. Once you go through these preparation steps, you will be ready to dive into creating a mobile app for a successful deployment and launch!

FAQs

What makes an app successful?

A successful app combines three aspects in a smart way: market, user and the product itself. All these factors need to work together to give users a unique value, great usability, and good performance. Accessibility is the last but not least key feature of a successful mobile app.

How much does it cost to maintain an app?

The industry norm for software maintenance is about 15 to 20 percent of the original development costs. So if your app cost $100,000 to build, roundly estimate to pay about $20,000 per year to maintain the app.

How to create a successful app?
- A successful mobile app starts with an app idea
- Identification / Clarification
- Design your app
- Identify approach to develop the app – native, web or hybrid
- Make an app prototype
- Integrate an appropriate analytics tool
- Identify your testers: Listen to them and incorporate relevant feedback
- Release/Deploy the app
- Capture the metrics
- Upgrade your app with improvements and new features
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May 8, 2021
Logistic startups that are helping deliver oxygen cylinders in India

“Not all heroes wear capes”, this saying was realized when Indian Logistics companies started pitching in to meet the shortage of oxygen during the Covid crisis. It is not possible to set up new oxygen plants or expand the old ones in a limited time. That’s why the focus had to be shifted to logistics.

During the first wave, the demand for oxygen went north from 700 MTPD (Metric tonnes per day) to 2,800 MTPD. The second wave launched it even higher to 5000 MTPD. This puts immense pressure on local bodies to deliver the requirement on time.

In this case, logistics entrepreneurs have come out as saviours. They are working were both solely and in collaboration with government bodies and international firms to meet the rising demand.

Below is the List of logistics companies that are helping deliver oxygen cylinders in this oxygen crisis:

Delhivery
Mahindra Logistics
Loginext
FAQ

Delhivery

Gurugram based unicorn startup, Delhivery has been contributing to meet the supply of oxygen cylinders. The CEO of Delhivery, Sahil Barua, seeks help from international firms while he plans to import oxygen from countries like China. The company is reaching out to people through social media to provide logistics support.

Chartered flights brought in oxygen cylinders on April 28 and April 30 from Shanghai to Delhi. Nitin Goyal promises to provide end-to-end support to anyone who asks for it. He provided his email, i.e., nitin.goyal@delhivery.com, where the requester can provide the details of volume and address

“We are flying charters into India with oxygen concentrators and other essential supplies and can build more capacity on demand.” – Sahil Barua, CEO Delhivery

A group of Gurugram based startup founders launched, “Mission Oxygen”, to meet the oxygen demand. They managed to raise 4.60 crores and aim to reach the target of 5 crore INR to deliver 3000 oxygen cylinders. The mission was funded by many businessmen and Bollywood celebrities.

The situation has gone so bad that patients and even doctors have resorted to social media to ask for help. In the scenario, government bodies have been proved to be unprepared. The startups on the other hand are well equipped with their advanced technology and measures that can provide valuable solutions. They gather funds and quickly put them to use.

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Mahindra Logistics

Amidst the havoc, Mahindra Logistics has emerged as another saviour as it launched, “Oxygen on Wheels” (O2W). They aim to deliver oxygen all around Mumbai to meet the shortage of oxygen.

Maharashtra is among the topmost affected states where the oxygen demand has sky-rocketed. Mahindra deployed over 100 vehicles in Mumbai, Pune, Thane, Pimpri Chichwad, Chakan, Nasik, and Nagpur.

The company has partnered with administration and local government bodies to fight this battle. Mahindra plans to supply oxygen in Delhi too. Since the condition is worsening and effective distribution becomes crucial, it is also planning to deliver oxygen directly to the homes of the patients where the condition is critical.

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Loginext

Loginext is Mumbai based logistics startup that has also pitched in the meet the demand. It plans on collaborating with Brihanmumbai Municipal Corporation (BMC) to deliver oxygen cylinders to the needy. It has also collaborated with over 50 delivery platforms to launch an oxygen-delivering service.

Dhruvil Sanghvi, CEO of Loginext understands that the bigger problem lies in distribution rather than the supply. That’s why they are working with local government bodies to ease the distribution.

Indian Air Force has also been lifting and delivering oxygen cylinders and other medical supplies. They are even lifting medical staff from different places and bringing them to required locations. Till now they’ve managed to lift cylinders from Bangkok, China, Singapore, and UAE to help the country in this crisis.

FAQ

How is oxygen delivered at home?

Oxygen is usually delivered to home as compressed oxygen gas or as Liquid oxygen.

Do oxygen concentrators run out of oxygen?

Oxygen concentrators does not run out of oxygen.

Can I import oxygen concentrator to India?

The Delhi High Court on Wednesday asked the finance ministry to consider exempting oxygen concentrators imported by individuals for personal use from integrated goods and services tax.

Conclusion

As India battles with the second Covid wave, we are faced with an ever-present logistics problem. But these companies with the help of others have proved that where there’s a will, there’s a way. While they continue to distribute oxygen, we can contribute by staying at home and following guidelines.

May 8, 2021
Why E-pharmacy firms saw huge order surge in second wave of pandemic

The second wave of the Covid-19 pandemic in India has led to the significant growth of online pharmacies. The lockdown being implemented in various states and the strict restrictions have led to the surge in for medical devices and PPE kits by the consumers through e-pharmacies. Let’s look at the growth of e-pharmacies in India.

Growth of E-pharmacy market
Growth of 1mg
Wellness Forever Medicare
Other E-pharmacy companies
Reason for the order surge
Demand for Covid-19 related products
FAQ

Growth of E-pharmacy market

The growth of the e-pharmacy sector has increased by up to 35 % compared to last year according to Industry trackers which is almost 3 times the expansion in the number of consumers ordering medicines and the essential substances for Covid-19 online. They claim that the sector is expected to witness much more growth in the current year as well.

Ankur Pahwa who is the Partner and National leader for the E-commerce and Consumer Internet sector of EY India had said that since the base is much more larger, they expect the growth to slow down. He added that the sector will not be able to see a growth of 40-45 % this year, but is still expected to remain high because of the increase of digitalization in the country.

EY has an estimation that the online pharmacy sector in India will grow to around USD 2.7 billion by the year 2023 from USD 360 million in 2019.

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Growth of 1mg

1mg is one of the top 3 e-pharmacy firm in the country. The company has said that there has been an increase in the medicines such as Fabiflu and Doxzee which is said to treat the mild cases of Covid-19. The company said that there was an increase of around 40x to 50x in the month of April 2021 compared to March 2021.

The company said that the sales of these drugs would have been higher if they wouldn’t have faced challenges regarding the supply of the drugs. 1mg reported that the demand for the Covid-19 related products was 5 times more in the month of April 2021 compared to the previous month March 2021.

Wellness Forever Medicare

Wellness Forever which is an omnichannel pharmacy chain has said that their orders have increased due to the second wave by around 25 %. The company has said that they have seen an increased demand for medical devices such as thermometers and oximeters, medicines and FMCG products.

Gulshan Bhaktiani who is the co-founder of Wellness Forever Medicare said that the company has seen a similar rise in order over different mediums such as walk-ins, app and calls. The company’s revenue had seen an increase of around 25 % for the year ended March 2021.

Indian pharmaceutical sector growth

Other E-pharmacy companies

Pharmeasy which is backed by Prosus and the leader of the online pharmacy market in India said that the company is looking forward to provide vaccination for around 30 million people. The company wants to become the largest private player in the vaccination drive in India.

It is planning to work with Corporates, healthcare providers and resident welfare associations.

Even the healthcare booking platform Practo has said that it is planning to largely work with corporates in order to provide vaccination to around 10 million people. The company has already confirmed that around 500 corporates have shown interest and have an employee strength of 1 million.

The company said that it is looking forward to work with around 1,000 companies for the first round of the vaccination drive.

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Reason for the order surge

The increase in the cases due to the second wave in most of the metro cities and this leading to lockdown and strict curfews have made the consumers to order the medicines and the Covid related items online rather than visiting offline pharmacies and diagnostic centers.

According to the company executives and industry experts, this is the major reason for the increase in sales by up to 25 – 65 % for online pharmacies.

Demand for Covid-19 related products

Prashant Tandon who is the co-founder of 1mg said that there is an unlimited need by the consumers currently and the company is investing on an active basis to ensure the supply chains can reach the demand of the consumers.

He added that the consumers are very anxious and fearful about exposure as they get their lab tests and medicines.

The demand for Covid-19 related products such as pulse oximeters, oxygen cans, masks, PPE kits, supplements such as Zincovit and Limcee is similar in all the major online pharmacies according to experts.

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FAQ

How do online pharmacies operate?

Customer requests for products on an online platform. The request is sent to an off line brick and mortar store. The prescription is validated and verified by pharmacists and only then the order is accepted for fulfilment.

Does online pharmacy require drug license?

Yes, online pharmacy businesses require drug license.

What is an online prescription?

Online prescription enables people to compare treatment prices, find a healthcare provider, and schedule an appointment all in the comfort of their own home.

Conclusion

The second wave of the Covid-19 pandemic is the main reason for the growth of the e-pharmacy business around the country. We may be able to see an increase in the growth of industries in the coming years.

May 8, 2021
Uncommon Startup Marketing Ideas You Must Try
So you have launched your startup, it’s a dream come true and you are definitely excited about it. You may have found some customers as well, but the most difficult part is to have enough customers so that you can sustain your business in market and drive profit as well in future. Invest wisely in your sales team, as they will play a major role in this trajectory. There is no direct formula like invest X amount of money and you will get Y number of customers, if there was, it would be much easier and less challenging. Alas, this is not the case. There is a lot of competition in the market today and there are thousands of ways to market your business but you will need a unique one if you want to be ahead of everyone.

According to a report, More than 1,200 startups came up in 2018. In this competitive world, where all companies are competing for being at the top in their industry against their rivals are enlarging their users or customers by doing best marketing strategies, So it will be very difficult for any startup to stand out among this competition. We know, that going for the startup is not a cup of tea and it is important to utilize monetary resource effectively at the right place. People believe that spending more monetary resources on marketing can help them gain an ample amount of users or customers. But, that’s not true! It all relies on the creativity that you lay in your marketing approaches. Every company follows a similar type of marketing strategy but if you want to stand out you need some unique approaches that can able to boost up your growth in terms of users or clients. Rand Fishkin, CEO of SEOmoz and a renowned leader of the digital world, says marketing after creating your product wastes energy, time and money. Marketing firs ensures a loyal and active audience so that when you do debut your product you will be able to get feedback right away.

In 2018, it is safe to assume that your target group is bombed with messages, notifications, spams and click ads all the time. The trick to arrest their attention for more than 10 seconds and make a room in their memory to be recalled at the right time is a combined effort of your authentic intentions and creative methods.

Wasting time along with your another promoting guide? Why? You already recognize the fundamentals. And you’ve in all probability detected the recommendation 1,000,000 times; produce a mission statement, notice your audience, produce awe-inspiring content and promote. whereas there’s undoubtedly additional to that than that, you get the gist. What your startup extremely desires area unit some innovative promoting ideas which will set you except for competitors and build customers come back to you. which will sound easier aforesaid than done, however you’ll be off and running when you re-examine these five uncommon promoting ideas for startups. Here are some uncommon ways startups can conquer the mountain and be on their way to growing like never before.

Reach out to a specific community

Community – Startup Marketing

If you want to build a user base fast, you need to have a clear understanding of what your ideal customer looks like. You need to have a fundamental understanding of your product and the community you’re targeting. Youth is the biggest user of just everything. Companies dig into the most creative ways possible to sell their products and make it a trend. You can then create a piece of content creatively and specifically for this community and can find huge and quick success. The basic idea lies in how well your product connects with the community at the target. Relevancy is the key here.

Use your product for the social cause

If you’re looking for something highly creative that will skyrocket your brand to success, consider using the product itself for a social cause. People these days love to see how a person is towards everyone else, there was a time when business was purely an act of selfishness. Its 21st century and people need to have trust in your brand and that can be built easily by doing something good. People take pride if they’re told about the product or service they use to contribute to human or wildlife funds. It does make them feel good about the product they use and the brand they’re associated within an indirect way.

Create a video that simplifies your product or service

Create Videos – Startup Marketing

Creating a video that explains your product in the most simplified way is one of the fastest ways of growing your fan base. Making a creative humorous, video that gets into the head of the viewer. The video shouldn’t be a regular advertising one then it’ll be pointless to call it a self-explanatory video. However, this can be a modified form of advertising and publishing your product.

Trust always works!

This is definitely the oldest and purest form of promoting and advertising used by businesses since the world began. While it may bring slower results than radio or television, it still works very well and solidifies customer for life. Because people are becoming increasingly suspicious of paid advertising, this old method becomes the most reliable way to market down product. I still think this remains one of the most trusted methods in the world today. When a customer is happy and satisfied with a product or service, there’s a natural human tendency that they are likely to share this experience with people in their circle of trust and influence – family, friends, colleagues, neighbours and sometimes, strangers.

How to attract customers?? The satisfied customer is one of the most effective marketing and advertising tools a small business can ever have. Satisfied customers become foot soldiers, evangelists and advocates for your business. It is amazing how many of your satisfied customers will go to great lengths to promote, convince, protect and defend your business outside. This is so effective and powerful that many successful businesses rely solely on this method to advertise and market their products and services. One of the biggest business empires like the TATA group. is the best example here. So, how exactly can your small business grow an army of passionate customers, who will advertise your product free of cost? The first and most important step is to sell a product or service that really works and provides great value to anybody who uses them. If a product or service delivers on its promise and does more than what it says, it’s a winner! Most people buy products or services to solve a problem or satisfy a need. Nothing will make a customer happier and more satisfied than getting a product that makes a very challenging problem go away. They’ll scream your name from the Everest top. Most times, it doesn’t really matter how large or deep-pocketed your competition is you can grow a successful business with great customer service. People like to buy products and services from businesses that treat them with respect. People love to be given attention and treated well and will always return to enjoy that beautiful experience again. Don’t forget, customers spend their hard-earned money on your products. Don’t you think they deserve a big “Thank you’ with a wide smile on your face? People hardly forget a great customer experience and will happily tell other people about it.

Give your customers a reason to advertise and market your business but sometimes this doesn’t come automatically, you have to encourage, motivate or incentivize your customers to do it for you, so that brings me to my last but not the least effective way to market your startup.

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Start a referral or reward program

Referral & Rewards – Startup Marketing

The more people they refer to you, the more free products, services and discounts they will enjoy. Referral codes and links are used a lot these days to attract customers. We all come across these kinds of codes and links and we do refer it to our WhatsApp contacts and others. It’s a very rapid way of growing business these days but this one is completely based on the quality of your product and service. One more method which is very popular is

Creating contests and lucky draws

The reward should be large enough to trigger their interest and make them take action. It’s a win-win method that always works. Everybody loves to win. It’s not just always about the prize you win, it’s the thrill of getting lucky or beating other people. Call it ‘ego’ or whatever you like, but it always works. Let’s also say you start an interesting contest, to spread it you can use various social media platforms like Facebook, Twitter, Instagram etc. Even though many of them will not win the grand prize, they will still be interested in finding out more about your products and services. But make sure you can comfortably afford the prize you plan to give out. Draw out a reasonable budget and stick to it. It makes no sense if the money you make from selling your products during the contest cannot cover the cost of running it.

Be as much as creative as you can with your Business Card

A business card represents your firm and is one of the most effective ways to reflect your business. Most of the startups mainly focus on the flyers and other advertising material; instead, investment time, cost, and builds a unique card. Mostly, we can see very popular templates business cards, which are less attractive and will not give an impression on first site, instead choose the best as you do not know when someone will share your card to a prospective client.

Give group specific discounts

Generally, what we see is a business offering huge discount, but did we thought that these discounts benefits all or only some group. Therefore, throw a sale focused more on different groups instead of a regular one. This will help your client feel privileged and boost your sales. Advertise the incentives and let them know you have plans for all of them not just for a few. Focus on quality instead of just the quantity.

Bring people to your platform

Advertise, but do it in a way that one is forced to try your business once. For example, advertise in newspapers, but add a line, try your luck with spin wheel, you may get discount up to 100%. One will never deny to try it out and this is the way that customer grows. If you are a startup that provides services, give your client to try their luck, you may offer to provide a next service at a discounted price according to the offer they get. Something is always better than nothing, this quote may be old but is one of the effective ways today also.

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Host a contest and give away free stickers and t-shirts

Everybody loves that. Host a contest and distribute t-shirts and stickers, this will also cover up the word of mouth marketing, never underestimate the power of this marketing. This is a free referral program that will build trust among the users and bring more customers together to your platform. Once they are on your platform, bribe them with cash, and give them free cash in their accounts for new customers. They can’t deny a platform built on trust and offering them discounts.

Send handwritten notes to your customers

Talking with your customers directly is very effective and can bring you more customers on board. Everybody likes to talk about him or herself and when you send a hand-written note to them with their order, they will feel privileged and will be willing to use your service for next time also. They will also praise your business for being special to them.

Show up unexpectedly!

Find out where your audience is and show up when they are not expecting. The show up could be of the product itself, a merchandise branding the startup, or a business card. ‘Accidentally’ leaving behind a pen with your FinTech company details at the banks, putting up Bumper stickers around the city, commissioning a graffiti to grab the eyeballs are just some creative ways to reach out. Find the ways suitable to your startup by asking people in your industry what grabbed their attention recently and work around the themes. Look deeply to understand where you customer is investing the time. Don’t feel shy about this and get your name out there in as many ways as possible. Literally, be everywhere!

Collaborations, Collaborations, Collaborations!

Collaboration – Startup Marketing

From Nike x Kanye West Yeezy to Uber x Spotify, collaborations are the new age formula to expand and impact. Identify the ways you can partner to create exciting campaigns or offers, run small samples to see which is getting active results, align it with the company’s vision and shoot! Nothing gets people more excited to see two forces coming together to their rescue.

Don’t underestimate the power of Social Media

Social Media – Startup Marketing

Although you must have a digital presence through your own website, Facebook page, Instagram page, Twitter handle, but so do all your competitors. Once again, identify where your customers spend time online and make a way to show up there. Partnering with a well-known expert with an influential following on Facebook, collaborating with an e-commerce to automatically add your product’s mini pack on every purchase are just some ways you can gain traffic on your page.
Digital world is a mad jungle with unimaginable potential, so put your creative hat on and tap the popularity of already established ‘influencers’ and brands to draw your own success and build trust with the new audience!

Show that you care

An individual is more likely to trust a new service provider or product if it is suggested by a friend, relative or co-worker. Find a way to these conversations that your buyers can have with potential new buyers and mention you in appreciation. Referral programs are a huge hit for the obvious benefits but think beyond the gain. A brief follow up call to your customer to inquire their satisfaction with the service, a thank you text with a reassurance that you are available to them in the future, a birthday/anniversary email with a small incentive on the next immediate purchase can take your brand goodwill a long way.

Associate yourself with a good social or environmental cause

The new age customers are very sensitive to their impact and showing that you care about your impact can leave a great impression on them and build a caring, trusting relationship between the two. Be aware of any big events that happen such as a natural disaster and ensure the customer that each business you get will also convert into an act of help. This can make others see you in a great light, and bring more people to associate with your business! Once your business grows, you will experience greater freedom to spend big on marketing campaigns but don’t lose sight of the unconventional ways of impacting people to stand apart in the crowd.

Trade shows For the marketing of your startup

You need to attend the trade shows and conference which will help you to get connected with the people and interact with them and talk about your product. you can able to build large community with them. There are many companies which follow this strategy such as Google itself is an example of this strategy. Every year Google organize programs for the developers and not only that they also invite the young developers around the globe.

Relate your product with some social work

This is the best way to promote your startup at first when you include your product in the some of the engaging social work. One of the examples of this is Paytm when demonetization was implemented in India the one application that was used the most for the digital transfer of the currency was the Paytm and it gives the huge boost to the Paytm company in terms of the users. Apart from this during the critical time, they also give cashback offers.

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Pay to the customers

Yes, instead of paying to the other sources for getting new users for your product you can directly pay to the new user directly when they sign up in your site you can give them the reward of $10 or 100 rs. The best example of this is Paytm and Paypal during the demonetization also Paytm was giving money for signing up and also if you invite your friend and relatives through your referral code they will also get the reward and you will also get a reward. Even Paypal also use this approach to get an ample amount of users in their earlier days and this strategy really worked for them.

Hosting contest

Hosting a contest on your site or website can get you users as while participating you can ask them to sign up for your website first and then participate in this contest. This brings a lot of audiences example for Hypster application which uses this strategy in which people can participate in the contest by signing up and making videos and according to this you can easily able collect flames and this flames you can easily convert in the money and thus this application have increased the number of user in short time period. All in all, there are many techniques which you can use for the marketing online and offline both approaches are available but to stand out from your rivals you should use the approaches which is used rarely. Marketing strategy should be creative and out of the box, thinking should be used so that your startup can boost as well as stand out and can able to set an example for the other marketing strategy makers and rivals and also to your users or clients.

Build a weird Bedfellow

You’ve in all probability detected that after upon a time M&M’s were offered a major role in E.T. The provide was turned down, that the film went with Reese’s items instead. whereas that hiccup didn’t take away M&M’s from grocery shelves, it did facilitate build Reese’s items a particularly standard candy. The idea here is that it’s not about to hurt your startup by teaming up with associate surprising partner or place to market it. It may be one thing as straightforward as showing off your product in a very video – suppose Snoop Dogg carrying Tommy Hilfiger within the 90s’ – to delivering brewage to fans at the OppiKoppi competition in Republic of South Africa via drones. In either case, you’ll be sound into a special audience.

Be all over

This doesn’t mean simply blogging or being active on social media – that you must be doing anyways. It virtually suggests that to be all over. you would like to be that complete that folks notice once they’re walking down the streets. Even if they don’t recognize what your startup will, they’ll acknowledge your name. Some examples would be commission a mural on building and covering the streets with chalk, paint or displays. you’ll conjointly make-up bumper stickers and t-shirts and provides them to workers or as freebies at events. they’ll not be the foremost uncommon, however an ingenious shirt not solely lets individuals have the prospect to diverge, it’ll build others wish to leap on board – suppose Zaarly shirts floating round the Bay space. In short, don’t be invisible. Get your name out there the maximum amount as potential.

Be a Hero and Save The Day

At some purpose you’ve scan that a business ought to be donating cash or sponsoring a charity. It simply makes your startup look sensible. And whereas that’s all well and sensible, you’ll continuously take that to subsequent level by being a hero to your community. For example, there was a brewage gate campaign during which individuals may get their train ride with empty brewage cans following Carnival. However, the cans had to be from Ambev‘s Antarctica brewage World Health Organization saw the simplest way to spark a utilization program. One more cool example from Brazil was the Rescue Drive campaign. killer Chevrolet drove around searching for normal driver and so offered them a free take a look at drive so they may build it to figure, home or where they needed to travel. Over in Asian nation, billboards were used as shelters for the homeless within the “Other Side” project.

Show Some SkinWell, not virtually

Unless that’s the type of attention you’re searching for. we have a tendency to meant metaphorically. this suggests giving your startup a temperament. think about dollar Shave Club. The startup launched a beta version in Apr 2011, however it wasn’t till March 2012 once everybody noticed the razor-blade subscription service. A risible ad that includes co-founder and CEO archangel Durbin took off leading to 12,000 orders within the 1st two days and also the company’s web site blinking inside the primary hour. The ad was funny, however conjointly introduced individuals to the corporate and also the man World Health Organization contains a love for shaving at an inexpensive value.

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Have Customers Become a region of the Team

While paying attention to and interesting your customers area unit important techniques in every and each of your promoting campaigns, you actually wish to boost the bar and build them desire a region of the team. That’s what the Karl Lagerfeld Store in capital of The Netherlands achieved in 2013. The store equipped dressing rooms with iPads and a wall-mounted touchscreen and camera. the concept was to own customers to share their new appearance with social media and email contacts. there have been conjointly Instagram-style filters that would be accustomed produce a lookbook. It absolutely was fun and interesting and an excellent thanks to promoting the complete. And it achieved that by creating the shoppers desire they were a region of one thing larger.

Conclusion

In this digital era, there is a huge competition in every industry. Thus you can’t rely on just traditional marketing and advertising, rather you should think out of the box. It’s not about spending too much money for marketing, it’s about to identify your target audience and run optimum marketing campaigns. Hope above startup marketing ideas will help you to craft your marketing strategies. Share your thoughts on the comment section.

FAQs

What are some of the best marketing practices for startups?

Best Digital Marketing Strategies for Startups:-
- Email Marketing
- Social Media Marketing
- Pay-Per-Click Marketing (Google AdWords)
- Search Engine Optimization
- Influencer Marketing
- Content Marketing
- Retargeting Ads
Do startups need marketing?

Yes, startups do need marketing.

How to promote a startup business?
- Send Emails
- Start A Blog
- Post On Social Media
- Use Paid Search Advertising
- Sponsor An Event
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This is the 21st century. You cannot expect a good profit unless customers thinkabout you. Although there is nothing like negative marketing, you still have tomake people think about you. It can be anything. They just have to think aboutyour brand. And all this comes under the term “brand positio…

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May 8, 2021

Coursera – World’s Largest Online Education Portal!

With the advent of the internet and smartphones came the opportunity of educating and learning over the internet. And two American Professors, Andrew Ng and Daphne Koller capitalized on this opportunity by launching Coursera in 2012.

Coursera is an e-learning platform that offers free and paid short courses, skills certifications, and complete degrees. Read this article to know more about Coursera’s company profile, founders, growth, competitors, funding, startup challenges, and business model.

Coursera – Company Highlights

Startup Name	Coursera
Headquarter	San Francisco Bay Area, Silicon Valley, West Coast
Sector	Ed-Tech
Founders	Andrew Ng, Daphne Koller
Founded	2012
Parent Organization	Coursera, Inc.
Website	www.coursera.org

About Coursera and How it Works
Founders of Coursera and team
How was Coursera Started?
Coursera – Startup Launch
Coursera – Business Model and Revenue Model
Coursera – Startup Challenges
Coursera – Competitors
Coursera – Funding and Investors
Coursera – Growth
Coursera – FAQs

About Coursera and How it Works

Coursera is an e-learning platform that offers free and paid short courses, skills certifications, and complete degrees. These educational courses are brought in to the customers by partnering with universities and businesses. Currently, Coursera offers these educational courses at a wide array of prices, from free-to-audit courses to $ 30,000-degree programs.

Coursera has partnered with more than 190 universities, businesses, and nonprofits. Majorly, the lectures for the courses offered at Coursera are free. However, if a student wishes to get a certificate of completion from Coursera, one can opt to pay for a per-course fee to the platform to participate in the “Signature Track.” This feature gives the students who paid a specific amount of money access to graded assignments, homework, and examinations related to the curriculum of the course.

If the student completes these assignments in a satisfactory manner, the students under this program, Signature Track earn a verified certificate towards the end of the course. This piece of certification is emblazoned with credentials such as the name of the course and the university that provided its content.

Henceforth, students who finish these certification courses can display these certificates to their employers or other relevant organizations as a testimony to their professional qualifications and stated skills. This online education startup also offers financial assistance to the students who can demonstrate a genuine need. However, the requirements for such financial aids have now become particularly stringent as the company has grown.

These education certificates are widely accepted and authenticated. Acknowledgment by the employers is the primary reason for Coursera’s success and the huge acceptance worldwide.

Founders of Coursera and team

Coursera was founded by two Stanford computer science professors Daphne Koller and Andrew Ng.

Daphne Koller– Before founding Coursera, Daphne was the Professor of Computer Science at Stanford University, where she served as a faculty for 18 years. She is the author of over 200 refereed publications and has been honored with multiple awards and fellowships.
Andrew Ng– Before founding Coursera, Dr. Ng was the founding lead of the Google Brain deep learning project. Dr. Ng has authored or co-authored over 100 research papers in machine learning, robotics, and related fields. In 2013 he was named to the Time 100 list of the most influential persons in the world. He holds degrees from Carnegie Mellon University, MIT, and the University of California, Berkeley.

How was Coursera Started?

Coursera was launched by these American Professors with the sole vision to give students from around the globe free access to degrees and other educational courses backed by professors of the top universities. When Coursera was launched, it charged nothing to students who, in turn, did earn an academic credit.

Universities like Princeton, Penn, and Michigan signed on early during the inception years. And followed by which, tremendous hype followed, giving Coursera the status that it enjoys today. With thought leaders like the New York Times’ Thomas Friedman who very highly wrote about Coursera something like this, “Nothing has more potential to unlock a billion more brains to solve the world’s problems.”

Coursera – Startup Launch

After setting the initial steps in the industry, Coursera first started working with a handful of schools like Stanford, Princeton, University of Michigan, and the University of Pennsylvania and more with the idea to bring out a handful of their more popular courses on the internet.

As of today, Coursera has partnered with many more organizations than just academic institutions like businesses, governments, and nonprofits and it is one of the most sought after education portals around the globe.

Coursera – Business Model and Revenue Model

The Coursera business model and revenue model of is as follows. So basically, Coursera does not do any course production and takes about 40% of the tuition fees. Given that, its marketing costs are relatively low, because it organically reaches a huge number of learners worldwide. Coursera users have to pay a specific amount on the portal to engage with the material published on the site in a meaningful way and take up courses for individualistic purposes. This is the primary source of revenue for online education portals like Coursera.

Over the years, Coursera has managed to put up a very stable business model. It offers products at quite a wider foray of prices. This wide array includes over 3,100 courses that are absolutely free to audit, the courses under “Signature Tracks” that ranges somewhere between $30 to $100, the courses under “Specializations” that range around $39 to $89 on monthly subscriptions, vast options of online degree programs ranging between $15,000 to $30,000, and lastly “Coursera for Business” for around $400 per employee on a yearly basis.

Coursera – Startup Challenges

Coursera’s all-time biggest milestone is to maintain revenue growth and nullify the competition in the same process. Coursera’s online education portals are becoming increasingly crowded with the passing days which intend the above-mentioned milestones addressed with proper guidance. In order to stay on top of the heap, Coursera will have to keep growing, nudging off the competitors and increase its revenue stream at an increasing rate.

Coursera – Competitors

Companies like Pluralsight, edX, Udacity, and LinkedIn pose direct competition to Coursera. All of these offer services comparable to Coursera and cater to the same genre of the audience, more specifically learners and professionals.

Coursera – Funding and Investors

Coursera has raised $313.1 million over nine rounds of funding over all these years. According to some sources, it currently has $180 million in the bank. Also according to Forbes, Coursera is worth more than $1 billion.

Here is a list of all the funding rounds of Coursera-

Date	Stage	Amount	Investor
April 2012	Series A	$16 Million	Kleiner Perkins, New Enterprise Associates (NEA)
July 2012	Series A	$6 Million	Kleiner Perkins Caufield & Byers, NEA
July 2013	Series B	$43 Million	GSV Capital, International Finance, Learn Capital
November 2013	Series B	$20 Million	GSV Capital, Learn Capital
August 2015	Series C	$49.5 Million	Kleiner Perkins Caufield & Byers, Learn Capital, NEA
October 2015	Series C	$11.6 Million	EDBI, GSV Ventures
April 2017	Series D	–	–
June 2017	Series D	$64 Million	GSV Asset Management
April 2019	Series E	$103 Million	SEEK Group

Coursera has acquired Rhyme.com on Aug 28, 2019.

Coursera – Growth

Coursera currently offers 3,200 courses in 13 languages and 310 specializations
Coursera is partnered with more than 192 institutions over 43 countries
Coursera’s partners include prestigious universities like Columbia University, Johns Hopkins and the University of Michigan
More than 40 million people have taken online classes through Coursera
Coursera closed 2018 with a revenue generation estimated at $140 million more than an estimated $100 million in 2017
As of now, Coursera is the largest provider in the online education market
By 2026, Coursera is projected to be worth anywhere between $42.97 billion and $65.48 billion worldwide

Coursera – FAQs

What is Coursera?

Coursera is an e-learning platform that offers free and paid short courses, skills certifications, and complete degrees.

Who are the founders of Coursera?

Daphne Koller and Andrew Ng, two Stanford computer science professors are the Coursera founders.

When was Coursera founded?

Coursera was founded in 2012.

Are courses on Coursera free?

Most of the courses on Coursera courses are free but if you want to access graded assignments or earn a Course Certificate, you will need to pay.

Is coursera legit?

Yes, Coursera is legit and it’s safe to use. These education certificates are widely accepted and authenticated.

May 7, 2021

Yumist Case Study – Startup that didn’t make it Big

We all have come across instances of startups making it big, in fact every business is a startup in the initial stages. There is a lot that goes into turning those intangible dreams into a tangible reality. The right investment, continuous performance, meeting short-term and long-term targets, all are equally important to a promising idea. This is where a startup makes it or breaks it. One such startup that we are going to discuss about is Yumist, a startup that aimed to serve home cooked meals via Zomato and Swiggy.

Startups are brainchildren of visionaries which go on to create history most times. Though, nowadays we even have Startup Accelerators to boost startups, but still there are some exceptions to this statement. Let’s get a glance on Yumist Case Study – The Story of Yumist.

What is Yumist?
How did Yumist pan out as a startup?
People’s verdict on Yumist
What led to Yumist’s failure?
Learnings from the Yumist Case Study
Yumist – FAQs

What is Yumist?

Founded by Alok Jain and Abhimanyu Maheshwari in 2014, Yumist sought to establish a network of homemade food for people who wished to experience the same. The Gurugram based startup aimed to serve home cooked meals via Zomato and Swiggy at rates starting from INR 100.

Alok Jain and Abhimanyu Maheshwari – Yumist Founders

The foodtech startup aimed to make it big in the foodtech industry, combining the goodness of home made food with the ease of having it delivered to one’s doorstep. Their vision of steady expansion and serving the working sector seemed pretty achievable initially but ended up choking them to the very core.

How did Yumist pan out as a startup?

As Promising as it sounds, there are certain practicalities which are involved in every theoretically perfect plan. In this case, funds eventually turned to be the determining factor.

The idea drew a handsome number of investors and was more or less a hit amongst them. The next step was to implement the right techniques to take the idea forward. Yumist did well to partner with Zomato and Swiggy for delivering pocket friendly homely meals. They had even carved a niche for themselves in certain regions but that was far from a permanent spot in the market. It would’ve taken them more than just consistency to achieve that.

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People’s verdict on Yumist

The reviews for Yumist were no different from the ones any foodtech startup would receive: a mixture of good and bad reviews. Though all reviews have either been removed or deleted, there are certain reviews one can still come across. These reviews happen to be from regions where Yumist wasn’t even active, in fact it never served those regions deeming them null and void.

The important factor behind Yumist’s downfall was poor timing and an eventual cash crunch. The foodtech startup misjudged certain aspects and couldn’t fortify its position in the industry eventually leading to the shut down of the company.

What led to Yumist’s failure?

Yumist’s expansion wasn’t as widespread as the company would’ve hoped for and the startup was active in just a few regions.

In May 2016, operations in Bengaluru were shut down due to the absence of a kitchen in the city. This was followed by the inauguration of a 12000sq ft. kitchen for Delhi NCR. Yumist was still recovering from the losses incurred due to the shut down of operations in Bengaluru.

This came as a major setback for Yumist’s profits. The major reason they gave for this shut down was the absence of a dedicated facility for food preparation. Since the operational charges were racking up and the profits weren’t, the company had to close all operations in 2017.

The major reason for the startup being shut down in 2017 was lack of funds. Investors who had entrusted the startup with its promising vision could see it lacking steam. The startup had generated funds but not enough to sustain its operations.

“We failed to raise the kind of capital that this business required while staying true to the customer problem. In hindsight, there’s a bunch of internal and external factors that led us to this dead end,” stated in a post on Yumist’s blog.

The founders were positive that the condition of the startup would eventually improve and by June 2018, they would’ve become a profitable company. The fact that they were incurring more losses, not even enough to sustain operations made this belief look more unrealistic with each passing day.

The final blow came in 2017 when Yumist had to finally close all operations and give up on the vision they had started off with.

“We are shutting shop today. We failed to raise the kind of capital that this business required while staying true to the customer problem. In hindsight, there’s a bunch of internal and external factors that led us to this dead end. We learnt from our mistakes and recovered fast, but maybe not too fast,” asserted the founders on the company’s blog.

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Learnings from the Yumist Case Study

As Yumist couldn’t become autonomous and depended on investors for most of its time, it eventually crumbled under its own weight. There were some debatable decisions as well that somewhat catalyzed its downfall. The founders Abhimanyu Maheshwari continued with his company Zing Restaurants while Alok Jain got associated with Swiggy as EiR post the failure of Yumist.

Though there ain’t much one can do to avoid certain situations we can obviously learn to consider certain aspects while kickstarting a startup. The basic learnings from Yumist Case Study can be – considering the target sector, funding and budget before taking decisions for a company. If Yumist was to have a more insightful approach to these, the outcomes would have varied to what they eventually were.

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Yumist – FAQs

Who founded Yumist?

Founded by Alok Jain and Abhimanyu Maheshwari in 2014.

What was Yumist?

The startup was based in Gurugram and reached out to people via both Zomato and Swiggy and serve homemade food starting at INR 100.

How did Yumist fail?

In 2017, the main reason for the startup being closed was a lack of funding. Hence, operational charges increased and profits did not increase.

May 7, 2021

Panacea Biotec Company Profile – India’s 2nd Largest Vaccine Maker

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 Panacea Biotec.

Since the pandemic began, India has recorded more than 19 million cases, second only to the United States. Over 200,000 deaths have also been recorded. A total of 150 million vaccine shots were given out, covering 11.5 percent of India’s population of 1.3 billion people. Panacea Biotec is a pharmaceutical and vaccine company based in New Delhi, Mumbai, and Lalru in India.

Panacea Drugs Pvt. Ltd. was established in 1984 and became Panacea Biotec Ltd. in 1995. India’s second largest vaccine manufacturer, Panacea Biotec, offers a highly advanced prescription product range in essential therapeutic areas such as pain control, diabetes care, renal-disease management, anti-osteoporosis, anti-tubercular gastro-intestinal care drugs, and vaccines.

Know the entire Company Profile of Panacea Biotec in the post ahead! Also get a glance on Panacea Biotec vaccine news, its business model, how it started, Panacea Biotec products and more…

Panacea Biotec – Company Highlights

Company Name	Panacea Biotec
Headquarters	New Delhi, India
Industry	Pharmaceuticals, healthcare
Founded	1984
Key People	Soshil Kumar (Executive Chairman of the Board), Dr. Rajesh Jain (Managing Director), Sandeep Jain (Joint Managing Director)
Products	Pharmaceuticals, generic drugs, vaccine
Website	panaceabiotec.com

Panacea Biotec – Latest News
About Panacea Biotec and How it Works?
Panacea Biotec – Mission and Vision
Panacea Biotec – Founder and History
Panacea Biotec – Products
Panacea Biotec – Name, Logo, and Tagline
Panacea Biotec – Business Model
Panacea Biotec – Key Financial Metrics
Panacea Biotec – Funding and Investors
Panacea Biotec – Competitors
Panacea Biotec – Challenges Faced
Panacea Biotec – Future Plans
Panacea Biotech – FAQs

Panacea Biotec – Latest News

As of April 2021, the stock of Panacea Biotech has risen to levels not seen in more than a decade.

“The Russian Direct Investment Fund (RDIF), and Panacea Biotec announced cooperation to produce 100 million doses per year of Sputnik V, the world’s first registered vaccine against coronavirus,” the company said in a press release on April 4.

Production of Sputnik V at Panacea Biotec sites would aid in RDIF’s foreign partners’ global supply of Sputnik V. Sputnik V has been registered in fifty-nine countries with a total population of more than 1.5 billion people around the globe. Data published in the Lancet, one of the world’s oldest and most respected medical journals, shows that Sputnik V has around ninety-two percent efficacy score.

“The vaccine is based on a proven and well-studied platform of human adenoviral vectors and uses two different vectors for the two shots in a course of vaccination, providing immunity with a longer duration than vaccines using the same delivery mechanism for both shots,” it said.

About Panacea Biotec and How it Works?

On February 2, 1984, Panacea Drug was incorporated as Panacea Biotec Limited, India’s leading science-based health management company with established research manufacturing and marketing expertise.

India’s second largest vaccine manufacturer, Panacea Biotec, offers a highly advanced prescription product range in essential therapeutic areas such as pain control, diabetes care, renal-disease management, anti-osteoporosis, anti-tubercular gastro-intestinal care drugs, and vaccines.

The business has collaborated with established national and international research businesses and organizations. PBL has four research and development centers and ultra-modern state-of-the-art production facilities in Himachal Pradesh, Punjab, and Delhi for manufacturing vaccines and pharmaceutical formulations that meet US-FDA, UK-MHRA SAMCC, and WHO-cGMP requirements.

In addition, the company owns 24 product patents that are valid in over 60 countries around the world. Radicura Pharma, a vaccine manufacturing plant opened in 1988, and Panacea Drug, a pharmaceutical formulations plant opened in 1989, in New Delhi.

Panacea Biotec – Mission and Vision

Panacea Biotec’ s mission is derived by its core values:

Innovation
Pioneer
Integrity
Humane

Panacea Biotec was established in 1984 as Panacea Drugs Private Limited, with the aim of making innovative products affordable and available to the general public.

Panacea Biotec – Founder and History

Panacea Biotec Ltd was established in 1993 as a result of a merger between Panacea Drugs (P) Ltd and Radicura Pharma. Panacea Biotec built a state-of-the-art Drug Delivery R&D center in Lalru in 1995, the same year it launched its initial public offering. The company received its first product patent in many countries in 1997.

In 2001, PBL’s Research & Development formed a partnership with a European MNC, and in 2002, an in-licensing agreement with the Biotechnology Consortium of India was signed for the development and commercialization of the anthrax vaccine. The company also opened a Recombinant Vaccine Manufacturing Plant in the same year, 2002.

In 2004, PBL signed an in-licensing agreement for the marketing of Japanese Encephalitis Candidate Vaccines with the National Institute of Immunology in New Delhi, and a collaboration with Cambridge Bio-stability UK for Thermo Stable Vaccines.

Key People/Executive Directors of Panacea Biotec –

Soshil Kumar (Executive Chairman of the Board)
Dr. Rajesh Jain (Managing Director)
Sandeep Jain (Joint Managing Director)
Mr. Ankesh Jain, Director – Sales & Marketing

Panacea Biotec – Products

Panacea Biotec product range includes highly advanced pharmaceutical drugs in specialty clinical fields like Pain Management, Diabetes & Cardiovascular Management, Oncology, Renal Disease Management, Osteoporosis Management, Anti-tubercular, Gastro-intestinal Care Products, and Vaccines.

Panacea Biotec’s current business is focused on its leadership positions in India, which include Transplant, Nephrology, Diabetes, and Pain, as well as some unique products based on proprietary Drug Delivery Systems. Its first Nanotechnology-based medicine, PacliAll (Paclitaxel in protein-bound particles), was introduced in 2011 and was the world’s first generic for Abraxane, produced by Celgene USA.

Panacea Biotec – Name, Logo, and Tagline

Panacea Biotec Private Limited was established in 1993 as a result of a merger between Panacea Drugs and Radicura Pharma.

Panacea Biotec’ s tagline is “Innovation in support of life,” which implies the company is India’s leading science-based health management company with established research manufacturing and marketing expertise.

Company Logo of Panacea Biotec

Panacea Biotec – Business Model

Panacea Biotec is a pharmaceutical and vaccine company. Panacea Biotec’s product range includes highly advanced pharmaceutical drugs in specialty clinical fields

Oncotrust, Critical Care, Diacar, Procare, and Growcare are the five strategic business units (SBUs) that Panacea Biotec has created to sell and market pharmaceutical formulations.

Panacea Biotec has entered the Contract Research & Manufacturing Services (CRAMS) market with the aim of expanding its knowledge and experience in on-time and high-quality delivery to clients.

The Company has built a strong portfolio in the fast-growing, multi-million dollar CRAMS market, based on its strong capabilities and state-of-the-art facilities, and powered by the enthusiasm of its experienced and skilled people. From sourcing to production, packaging to growth, the Company’s CRAMS portfolio covers the entire spectrum of processes and services.

Panacea Biotec – Key Financial Metrics

The table below highlights some of the key financial metrics of Panacea Biotec extracted from the company’s annual reports.

Financial Metric	2019-20	2018-19
Total Income	5335.83	4522.83
PAT	(1530.7)	265.7
PAT Margin (%)	(31.70)	6.04
Equity Share Capital	61.25	61.25
Net Fixed Assets	5667.47	8232.42

Panacea Biotec – Funding and Investors

Panacea Biotec is a publicly traded company listed in stock exchanges. It has also received investments from India Resurgent Fund and more .

Date	Round	Amount	Lead Investors
Dec 21, 2019	Grant	$24.3M	–
Apr 8, 2019	Venture Round	$144M	India Resurgent Fund

Panacea Biotec – Competitors

Glenmark, Torrent Pharmaceuticals Limited., Ranbaxy, Cipla, Dr. Reddy’s, Lupin, Aurobindo, Sun Pharma, Zydus Cadila, Cadila Pharmaceuticals are the top ten competitors in Panacea Biotec’s competitive set.

Panacea Biotec – Challenges Faced

Panacea Biotec Ltd.’s stock plummeted after the US Food and Drug Administration sent a warning letter to its Baddi, Himachal Pradesh, unit, prohibiting new approvals.

Following an inspection on February 10, 2020, the US Food and Drug Administration released a warning letter outlining major violations of existing good manufacturing practice legislation for finished pharmaceuticals.

“Until you correct all violations completely and we confirm your compliance with CGMP (current good manufacturing practice), FDA may withhold approval of any new drug applications or supplements listing your firm as a drug manufacturer,” it said in the statement.

The company failed to develop laboratory controls, such as scientifically sound and acceptable requirements, guidelines, sampling plans, and test procedures, to ensure that materials, drug product containers, closures, in-process content, labelling, and drug products meet appropriate identification, power, consistency, and purity standards.

Panacea Biotec – Future Plans

To guide long-term development, Panacea Biotec plans to scale up its vaccine and pharmaceutical verticals. According to a company spokesperson, Panacea Biotec’s long-term growth ambitions include scaling up its current product range, developing new drugs, and expanding into new markets.

The company transferred its pharmaceutical formulations business, as well as related research and development and natural products extraction activities, to its wholly-owned subsidiary Panacea Biotec Pharma Limited during the year under review.

In June 2020, the company announced the formation of a joint venture company in Ireland with Refana Inc of the United States to produce a COVID-19 vaccine. Panacea Biotec will be in charge of product production and industrial manufacturing, while the JV agency will be in charge of clinical development and regulatory submissions all over the world, according to the agreement. In their respective territories, Panacea and Refana will sell and distribute the vaccine.

Panacea Biotech – FAQs

What does Panacea Biotech do?

Panacea Biotec is an Indian pharmaceutical and vaccine company with headquarters in New Delhi, Mumbai, and Lalru, in India.

What is Panacea Biotec Vaccine News?

Panacea Biotec is India’s second largest vaccine manufacturer. The Russian Direct Investment Fund (RDIF) and Panacea Biotec announced cooperation to produce 100 million doses per year of Sputnik V, the world’s first registered vaccine against coronavirus (April 2021)

How Panacea Biotec Started?

Panacea Biotec Ltd was established in 1993 as a result of a merger between Panacea Drugs (P) Ltd and Radicura Pharma.

What are Panacea Biotec Products?

Panacea Biotec product range includes highly advanced pharmaceutical drugs in specialty clinical fields like Pain Management, Diabetes & Cardiovascular Management, Oncology, Vaccines among others. Its first Nanotechnology-based medicine, PacliAll was the world’s first generic for Abraxane.

Who are the competitors of Panacea Biotec?

Glenmark, Torrent Pharmaceuticals Limited., Ranbaxy, Cipla, Dr. Reddy’s, Lupin, Aurobindo, Sun Pharma, Zydus Cadila, Cadila Pharmaceuticals are the top ten competitors of Panacea Biotec

May 7, 2021

Blog

Mark Zuckerberg – Biography

Mark Zuckerberg – Early Life

Mark Zuckerberg – Education

Mark Zuckerberg – Beginning of Facebook

Mark Zuckerberg – Career

Wirehog

Platform, Beacon, and Connect

Mark Zuckerberg – Controversies

Saverin lawsuit

Pakistan criminal investigation

Cambridge Analytica Data Breach

Palestinian terror attacks

Hawaiian land ownership

Paul Ceglia

Mark Zuckerberg- Philanthropist

2010

2012

2013

2014

2015

2016

2020

Mark Zuckerberg – Awards and Achievements

Mark Zuckerberg – FAQs

Who Mark Zuckerberg?

What is Mark Zuckerberg age?

What is Mark Zuckerberg net worth?

How old was Mark Zuckerberg when he became a billionaire?

Analog Vs. Digital

Ways In Which Technology Is Easing Out Design Work

Impact On The Communication Medium

Better Quality

Accessibility

More Productivity

Quick Feedback

Streamlining The Workflow

More Interactivity

Evolution Of The Graphic Design Career

Conclusion

FAQs

What is technology in design?

What technology is used in design?

How does technology help design?

Pfizer

Mahindra Group

Sony Group

Qualcomm

SpiceJet

Google

Xiaomi India

Microsoft

Amazon

Paytm

Ford Motors

One Plus

FAQ

What is the current Covid situation in India?

Who issued the official name of COVID-19?

Which Covid vaccine is used in India?

Conclusion

Steps to Create a Successful Mobile App

Idealise

Revenue Model

Area Of Operation

Legal Work

Marketing

Social Media Marketing

Customer Satisfaction Policy

Before to Launch

Feedback

Create a Reliable Privacy Policy

FAQs

What makes an app successful?

How much does it cost to maintain an app?

How to create a successful app?

Delhivery

Mahindra Logistics

Loginext

FAQ