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  • List Of All The Subsidiaries Of The Godrej Group

    Godrej is known to be a pioneer in many products that we use in our daily life. Godrej Group is an Indian Conglomerate company that is owned by the popular Godrej Family. The main founders of Godrej is Ardeshir Godrej and Pirojsha Burjorji Godrej, establishing the company 1897. Godrej has makes products in various sectors such as consumer products, FMCG, industrial engineering, appliances, furniture, security, real estate, agricultural products and more. Godrej is known to have more than 500 million Indian customers with over 10 million turnover in 2020.

    Godrej is one of the oldest brands in India and has loyal customers from more than a hundred years The most popular subsidiaries and acquired companies are Godrej Industries, Godrej Consumer products, Godrej Agrovat, Godrej and Boyce and Godrej Properties. More than 20% of its business is done overseas because it is present in more than 60 countries. The headquarters of Godrej is based in Mumbai, Maharashtra. It has more than 1.1 billion consumers globally. The company trusts have 23% holding of Godrej, are known to invest in the sectors of environment, health and education.

    The Godrej Group has huge footprint that extends beyond the earth because its engines now give power to many of India’s space missions. Godrej is one the most trusted brands in India and is supporter of the World Wide Fund in India and has helped develop an ecofriendly business in the town of Vikhroli in Mumbai. The Godrej Group is broadly divided into two major well-known companies which work independently: Godrej Industries and Godrej & Boyce.

    A Brief History on Godrej Group
    Top 6 subsidiaries of Godrej
    Frequently Asked Questions
    Conclusion

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    A Brief History on Godrej Group

    Godrej was originally established in 1897 by the brothers Ardeshir Godrej and Pirojsha Burjorji Godrej from the well-known Godrej Family line. Ardeshir Godrej was originally a lawyer who went on to give up the profession to practice lock making. The company then becomes big after Godrej introduces the first ever lock with lever technology in India. In 1902, Godrej manufactures the first Indian safe and by 1920 starts its own soap company using only vegetable oil which gives the company all the more boost. By 1955 the company had started producing its own typewriter which at that time became popular.

    The company kept growing for the next twenty years with inclusion of trucks, the Godrej Agrovet limited, etc. Godrej got its first subsidiary the Godrej Properties limited in 1988 and became the first company from India to introduce PUF or polyurethane form. In 1994, the company acquired Transelektra, formed an alliance with Sara Lee USA and renamed Translektra to Sara Lee USA. The Godrej Soaps was renamed as the Godrej Industries Ltd in 2001. In 2013, the company introduced Godrej global solution limited which offered BPO solution.

    The History of Godrej Group

    The company merged its food business with Godrej Tea and renamed it to Godrej Beverages & Foods limited. Godrej also launched FreeG which is the county’s first non-web based mobile browsing experience in 2014. The most recent advancement of the company was in 2020, when it started the Godrej Housing Finance in order to provide affordable home loans. One of the main contribution of Godrej is the refrigerator that the company without any CFC (Chlorofluorocarbon), HFC (Hydro fluorocarbons) and HCFC (Hydro Chlorofluorocarbons).

    The success of the company is because of the mergers, its subsidiaries and acquisitions and recent joint ventures which are cleverly chosen by the company. Another person who has helped the company grow to new heights is Adi Burjorji Godrej. Under his guidance the company emerged as a FMCG market and turned the then ₹10 crore turnover to $5 billion conglomerate. He expanded the company in Zambia, Senegal and Kenya with the acquisitions of their personal care companies.

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    Top 6 subsidiaries of Godrej

    Godrej Industries Limited

    Godrej Industries Limited is a one the biggest and number one manufacturer of various different chemicals that are used in over two dozen companies. The headquarters of Godrej is located in Mumbai, Maharashtra. The company is also known to manufacture edible oils, fatty oils, Glycerin, fatty alcohols, vanaspati and other bakery fats. The company was known as Godrej Soaps until 2001, after which the company split into two big corporate companies called Godrej Consumer Products and Godrej Industries. The company is well equipped to deliver the products which are superior quality at competitive prices.

    Godrej Industries
    Godrej Industries

    Godrej Industries is interested in many sectors such as consumer goods, real estate, agriculture, chemicals and financial services which has been successful because of its subsidiaries and associate companies across 18 countries. Besides that the company also works under four divisions which are Corporate Finance, corporate HR, Corporate Audit and Assurance, Research and development. Godrej industries have two manufacturing plants in Valia (Gujarat) and in Vikroli, (Mumbai). Its international quality products are exported to more than 40 countries in North and South America, Asia, Europe, Australia and Africa.

    The companies further has its own subsidiaries which are:

    • Godrej Agrovet
    • Godrej Oil Palm Limited
    • Godrej International Limited
    • Godrej Realty Private LTD
    • Godrej Investment Pvt. Ltd
    • Godrej Remote Services Limited

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    Godrej Agrovet Limited

    The company is a sector that is dedicated for animal feed, agriculture and agribusiness. Agrovet is the market leader when it comes to poultry, processing, and animal feed and oil palm plantations. The company is also the largest oil palm developers in the country. It has oil plantation is states like Telangana, Andhra Pradesh, Karnataka, Tamilnadu, Goa, Maharashtra, Orissa and Mizoram.  It had four automated plants in cities like Bengaluru, Kharagpur, Baramati and Erode in order to reach the demand of the ever growing market of animal feed. The company is also well known for animal feed and poultry in Bangladesh.

    The company also has a history of joint ventures with companies like Tyson foods from America, through which it manufactured and marketed packed and processed poultry and other vegetarian products. One of the most well-known brands of this is the Yummiez and Good Chicken. It also is a key player in the Agri inputs business as it has come up with new agro chemicals and has a strong market share amongst the plant growth promoters and soil conditioners. Godrej Agrovet has over 300 employees with a network of 10,000 rural distributors in various industries.

    All about the Godrej & Boyce company

    Godrej and Boyce

    Godrej and Boyce is a flagship company of the Godrej group company that manufactures products like locks, refrigerators, washing machine, air conditioners, home security system, furniture and safes and products for institutions like furniture for offices, audio visual products, security products, beverage vending machine, etc. and industrial products like process equipment, industrial storage products, and precision equipment. The company is headquarters Pirojshanagar, at Vikhroli in Mumbai. G&B has so far filed for over 209 patents and has been granted 77.

    The turnover of Godrej and Boyce is Rs 11,000 crore in 2020, its employees are more than 14,000. The G&B is present in over 10 different industries like complex engineering solutions to consumer goods like appliances, furniture and security solutions. The products of Godrej and Boyce are also sold in countries like Europe, US, Middle East, Africa and South East Asia. Over 616 million Indian are known to use the company’s products. The G&B have been constantly innovating from the past 123 years and have managed to provide us with new products, solutions, fulfilling aspirations of their customers and helped them lead a secured life.

    The main subsidiaries and acquisitions of the company are:

    • Godrej Infotech
    • Godrej Interio
    • Godrej Efacec Automation and Robotics Ltd
    • Godrej Presicion engineering
    • Godrej Security solutions
    • Godrej Storage Solutions

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    Godrej Infotech Limited

    Godrej Infotech Limited, a subsidiary of Godrej and Boyce which is one of the main subsidiaries of the Godrej Group. This company had already started in 1897 and was initially the High tech engineering department under the consumer products and then became thee IT sector of Godrej and Boyce. Godrej Infotech is mostly known for its software services and consulting and became a separate company only after April 1999. The company headquarters is located in Mumbai, Maharashtra.

    Godrej has a 15 year partnership with Infor Partner Network, in order to sell wider range of products in countries like UAE, Saudi Arabia, Oman, Qatar and Bahrain. It so far has received many certification for Analysis, Design, Coding, Testing, Delivery and maintenance of commercial application software, ERP consultancy and facilities management services. They also provide its employees with constant training to help develop their skills and to get professional excellence.

    Godrej InfoTech is known to have a dedicated team that is experts in providing business and tech solutions for the projects, real estate, construction, oil and gas. The company has so far worked with over 200 industry customers and has manufactured chemicals, automotive, machine equipment, metal fabrication, heavy engineering, printing and publishing, Food and beverage and textiles. The company also provides various services from Business process, consulting, infrastructure management, implementation and global rollout, application support and maintenance, mobile development and training.

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    Godrej Consumer Products

    Godrej Consumer Products is one the most leading company that manufactures consumers and personal care products. The company’s total sales is Rs. 10,314 Crore while the market capitalization id Rs. 72,080 Crore. The company is headquartered in Mumbai Maharashtra. Godrej Consumer Products include soaps, hair colourants, toiletries, Air freshener and liquid detergent. The company owns popular brands such as Cinthol, Godrej no 1, Godrej Shikakai, Godrej hair dye, Renew, Ezee, etc. IT has manufacturing firm across India like Malanpur (Madhya Pradesh), Guwahati (Assam), Baddi (Himachal Pradesh), Pondicherry, Chennai and even in Sikkim.

    Few of its international acquisitions include Keyline Brands limited from UK in 2005, Rapidol Limited in 2006, Godrej Global Middle East in 2007, Argencos in Argentina, Cosmetica Nacional from Chile and Frika hair from South Africa in 2015. The company was ranked 6th in the Best Employers Study conducted by Hewitt Associate and Economic Times, it also considered to be the 9th greatest place to work according to Great Places To Work survey. The company became even bigger in 2010, with its acquisition of Sara Lee Corp. Godrej Sara Lee is now open of the leading household insecticide player in India with brands like Good Knight and Hit.

    The consumer goods by Godrej consumer products
    The consumer goods by Godrej Consumer Products

    Godrej Properties Limited

    Godrej Properties is the real estate sector of the Godrej Group. The company’s headquarters is based in Mumbai, Maharashtra. The company was established in 1990 under Adi Godrej. Godrej properties is currently working on upcoming projects on over 89.7 Million square feet of land. The company is so big that it is also listed on the Bombay Stock Exchange (BSE) and the National stock exchange (NSE). It currently operates in cities like Chandigarh, Bangalore, Chennai, Mangalore, Kochi, Ahmedabad, Nagpur, Mumbai, Kolkata and Pune.

    The company has so far brought over many innovations, sustainability and excellence to the real estate industry. The total sales of the company is Rs. 2,817 crore, while its market capitalization is up to Rs. 32,259 crore. Until now, the company was awarded with  over 250 awards and recognition such as The Most Trusted Real Estate Brand in 2019, The Real Estate Company Of The Year in 2019 as well and The Economic Times Best Real Estate Brand of 2018. The company has a 123 year long legacy of providing its customers with cutting edge design and technology.

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    Frequently Asked Questions

    What are the top 6 subsidiaries of Godrej Group?

    • Godrej Properties Limited
    • Godrej Agrovet Limited
    • Godrej Infotech Limited
    • Godrej Consumer Products
    • Godrej and Boyce
    • Godrej Industries Limited

    Where is the headquarter of the Godrej Group?

    The headquarter of the Godrej Group is in Mumbai, Maharashtra.

    What are the subsidiaries of Godrej Industries?

    • Godrej Agrovet
    • Godrej Oil Palm Limited
    • Godrej International Limited
    • Godrej Realty Private LTD
    • Godrej Investment Pvt. Ltd

    What are the two other subsidiaries of Godrej and Boyce?

    They are Godrej Aerospace and Godrej Precision Engineering.

    How many customers does Godrej Group have?

    Godrej is known to have more than 500 million Indian customers with over 10 million turnover in 2020.

    Conclusion

    Godrej Group is an India conglomerate that offers various products in countless categories. With a revenue of more than 4.1 million US dollars, the company is growing at a fast pace. In India, Godrej is one of the oldest and the most trusted brand because of the quality of products is offers. Over past 120+ years Godrej has expanded to over 60 countries and ensures that their customers buy their products wherever they go. The company has over 500 million and is continuing to expand the horizon internationally. The success of the company is because of strategic acquisitions and subsidiaries that the company has accumulated over the years.

  • How Brands Can Leverage Clubhouse – An Emerging Social Media Platform

    The Clubhouse is a social media app that is dependent on audio. It has rooms similar to Facebook groups where people can join and get into conversations with people. The only difference would be that this platform would be more like a group voice call.

    Users need to get an invite from their friends to sign up into clubhouse and their friends should already have an account on the platform. The platform is in its initial stages and works on an invite-only basis.

    You can join any group according to your preference and each group would have different conversations. You can raise your hand and get involved in the conversations by expressing your viewpoints and asking queries. This social media platform has a valuation of about $1 billion.

    The platform has created a lot of hype in the market as each user would get only 5 invites and people have gone crazy for it that they started selling their invites on eBay. This social media platform has helped the brands leverage a lot of opportunities to increase their growth. Below are the ways through which the brands leverage this platform.

    To connect with their customers
    Building brand affinity
    Carrying out product placements
    Educating the customers
    Gathering feedback
    FAQ

    To connect with their customers

    Since clubhouse is an audio platform it helps the brands to connect with their customers. If you are a customer and part of the clubhouse room of a specific brand, you can get into the conversations and listen to the person representing the brand. This will develop a professional and personal relationship with the customers.

    Brands can connect with their audiences by speaking about a specific topic or controversial topics, getting into discussions with the customers and creating an inter-personal relationship. The choice of the topic depends on the brand or their campaign. Clubhouse helps the brands to maintain a good relationship with their customers.

    Building brand affinity

    Once the brands are able to connect with their customers, they will be able to maintain them. During the process of connecting, they can offer extra services where the customers can address their problems and brands being able to give a solution to those.

    It will make the customers feel like they are a part of a community and helps to maintain loyalty and the customers would return back to the same brand for their services. They would have a personal connection towards the brand. It helps in building the brand affinity.

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    Carrying out product placements

    Brands conduct product placements through clubhouse. They can again initiate the conversations between their customers. The head of the company can ask the customers about the issues they are facing on a topic which can be related to the services provided by the company.

    Once the customers start expressing their view points and problems, the company can mention their services and how they can help them in solving their problems. In this way brands can conduct product placements and it’s not necessary that product placements are supposed to be visual.

    This can create a situation where the customers feel that as an advice or suggestion given by a person more than advertising a product.

    Clubhouse User Growth Over Time
    Clubhouse User Growth Over Time

    Educating the customers

    Brands are using this as a tool to educate the customers about their products. The brands can provide information about their services and how their services can be helpful to the customers.

    They can provide information about the company, create a story line and make it more interesting or they can come up with creative ways to communicate about their brands to their customers.

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    Gathering feedback

    Clubhouse are used by brands to gather feedbacks. The customers get an advantage of expressing their grievances and feedbacks directly to the important person of the company rather than trying to contact the telecallers and waiting for them to respond. This makes the tedious task much easier and more effective for the customers as well as the brands.

    The brands would get an idea about the problems faced by the customers and how much is it affecting them. This again creates a personal relationship.

    FAQ

    What is Clubhouse app used for?

    Clubhouse is an audio-only social media app used for sharing constructive conversations.

    What is the valuation of Clubhouse?

    Clubhouse reached a valuation of $1billion.

    Who is Clubhouse owned by?

    Clubhouse was founded by Paul Davison and Rohan Seth and is owned by the Alpha Exploration Co.

    Conclusion

    However, the future of clubhouse is uncertain. The brands may find other ways to leverage the app and work on growing their business and maintaining their relationship with their customers.

    Other social media apps can copy the idea of clubhouse and come up with a replica which would increase the competition. As of now clubhouse is still developing an app for android users. There is a huge potential for this app because of its valuation and high user base.

  • 20 Interesting Facts About Netflix You Need to Know

    Netflix is currently one of the biggest OTT platforms in India. It was founded in year 1997, in United Sates by Reed Hastings and Marc Randolph. Netflix has a very interesting past that needs to be Explored, so Here are 20 interesting facts about Netflix that you need to know.

    Advertisements
    Awards
    Most Watched Movie
    Netflix’s DVD service
    Own Subscriptions
    Internet Traffic
    First Film
    House Calls
    Web Series
    Netflix Paid Disney
    Smart Tv
    Kibble
    American Households
    Tesla
    Title Recommendations
    6 Titles
    Blockbuster
    Award Shows
    Special Socks
    Tv and Cable Networks
    FAQ

    Advertisements

    Netflix subscription saves you from 160 hours of advertisements. Before Netflix, an average individual used to spend around 160 hours of his time watching an advertisement on his subscribed television channels.

    Awards

    In 2018 Netflix won more Emmy awards than HBO. When Netflix started creating its original content everyone doubted the quality but in 2018 it won more Emmy awards than HBO. HBO had been winning the most awards at the annual television awards ceremony for the past 17 years.

    Most Watched Movie

    In 2017 a Netflix Subscriber watched the movie Madagascar 352 times. It is more like watching the same movie every day the entire year.

    Netflix’s DVD service

    In 1999 Netflix started offering subscription-based DVD service. Even now around 2.7 Million people subscribe to Netflix’s DVD service.

    Netflix DVD Service
    Netflix DVD Service

    Own Subscriptions

    Netflix allows you to share your account with your friends and most probably you would even have subscribed to a Netflix account pooling in money with your friends. But still, 55% of the Netflix users pay for their subscriptions.

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    Internet Traffic

    In the first half of 2019 Netflix generated the most amount of internet traffic which accounted for 12.9%. It was 0.6% more than the traffic generated by Google.

    Netflix Internet Traffic 2019
    Netflix Internet Traffic 2019

    First Film

    Netflix’s first film was called the Example show. It was made to test the frame and the quality of the film. Example show was a short-film which had strange and random scenes put together.

    House Calls

    Netflix’s employees had to make house calls in the beginning. People living around the California area used to receive house calls for taking a survey. They used to collect the data to know which titles to add next to their library.

    Web Series

    In the web series ‘The Witcher‘, Henry Cavill the actor has done all of his stunts. Also the web series ‘Sex Education‘ was filmed on purpose to depict the school culture of the British and the U. S.

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    Netflix Paid Disney

    Netflix used to pay $300 Million to Disney to stream its content. Disney used to play Netflix’s content before the release of Disney+.

    Smart Tv

    Smart TVs are being more and more common in recent years. It is observed that 80% of the Netflix Subscribers are using their services on their Smart TVs.

    Kibble

    In the early days, the company found it hard to find a name. The co-founder Marc Randolph suggested the name “Kibble”. It was a temporary and the first name of Netflix. Later the company was renamed as Netflix.

    American Households

    Netflix subscriptions have grown exponentially from 2010. In 2010, the number of American households who owned Netflix was 16%, and in a decade, it increased to 62%. Almost two-thirds of American households own a Netflix account.

    Tesla

    The CEO of Tesla, Elon Musk had informed that you could stream Netflix in your Tesla car from 2019. This feature can be used only when the car is safely parked. This keeps the passengers entertained while waiting for their cars to charge or waiting to pick someone up.

    Netflix can be streamed on Tesla
    Netflix can be streamed on Tesla

    Title Recommendations

    Most of Netflix’s subscribers watch popular shows. But 80% of Netflix’s subscribers watch the recommendations given by the algorithm.

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    6 Titles

    Netflix’s users will have at least 6 titles they have watched it in common. Netflix finds this as a common factor in its large user base.

    Blockbuster

    In the year 2000 Netflix was about to sell it to Blockbuster for $50 Million. The company thought it was the right decision as they didn’t have enough money to survive. Blockbuster later rejected the offer and now Netflix is the largest OTT platform.

    Award Shows

    In 2013 Netflix had released its own award show called the Flixies. It was a fan-based awarding, Netflix subscribers could choose the nominees and winners through voting in numerous categories. This was just an experiment done as a promotional strategy.

    Special Socks

    Netflix designed a special sock that detects when you fall asleep. The socks will automatically pause your show so that you don’t miss out on any part of it. It has some electronic devices which will detect your pulse and do the work.

    Tv and Cable Networks

    Currently, Netflix has a greater number of subscribers than any other Tv and cable network in America.

    FAQ

    Who is Netflix main competitor?

    Amazon prime video is the main competitor of Netflix.

    Who refused to Buy Netflix?

    In the year 2000 Netflix was about to sell it to Blockbuster for $50 Million, but Blockbuster rejected the offer.

    Who is the CEO of Netflix 2020?

    Ted Sarandos is the current CEO of Netflix and has also been elected as board of directors of Netflix.

    Conclusion

    Netflix is the leading OTT platform that has increased its subscription base over the years. It has made a majority of the individuals change from the traditional Tv and cable operations. Netflix in India is growing exponentially. The subscription rate of Netflix has been increasing among the Millennials.

  • All You Need to Know About BankBazaar – The Pioneer Indian Fintech Company

    Selecting suitable financial instruments is a must for growing your money. Your choice of financial instruments play a decisive role in achieving your financial goals. However, with a host of options available, it is tough to find the best deal. BankBazaar came into being to solve this very problem. BankBazaar lets you easily compare the various saving and investment options available in the market, so that you can find the best one that suits you.

    Headquartered in Chennai, BankBazaar is a dynamic online marketplace with a conscious initiative to inculcate financial awareness among the Indian consumers by giving them instant and customized rates on the wide array of financial instruments present in the Indian Financial market.

    Bankbazaar was Founded in 2008 by Adhil Shetty, Arjun Shetty, and Rati Shetty, BankBazaar is an initiative to provide a long-awaited solution to the rigged Indian banking system. In the industry of fintech startups, BankBazaar has set a different stratum for itself over the years.Here we have curated some vital and interesting facts and figures about BankBazaar, that will let you get an insight of this esteemed company.

    BankBazaar Highlights

    Startup Name BankBazaar
    Headquarter Chennai
    Sector Fintech
    Founders Adhil Shetty, Arjun Shetty & Rati Shetty
    Founded 2008
    Parent Organization A&A Dukaan Financial Services
    Website www.bankbazaar.com

    About BankBazaar and How it Works
    BankBazaar – Founder
    How was BankBazaar Started
    BankBazaar – Business Model and Revenue Model
    BankBazaar – Funding and Investors
    BankBazaar – Competitors
    BankBazaar – Growth

    About BankBazaar and How it Works

    BankBazaar is all about aiding the consumers with better rates and more awareness as to what goes into the financial markets. BankBazaar.com is the world’s first neutral online marketplace that gives customers instant customized quotes on loans, credit cards, mutual funds & insurance products.

    One can instantly search for, compare and apply for loans, credit cards, mutual funds, and insurance products on the site. Having partnered with India’s leading financial institutions & insurance firms, BankBazaar provides great deals aptly.

    BankBazaar – Founder

    Adhil Shetty, Arjun Shetty, and Rati Shetty are the founders of BankBazaar.

    Adhil Shetty is the CEO of BankBazaar. Adhil graduated from the well renowned Columbia University of New York in International finance and Business after taking an engineering degree from College of Engineering, Guindy, this man has had a fair share of versatility required in the field. Before co-founding BankBazaar, he was a senior consultant at Deloitte.

    BankBazaar COO Arjun Shetty, has a bachelor’s degree in engineering from the College of Engineering, Guindy and a master’s degree in Operations Research from the Georgia Institute of Technology. Before co-founding BankBazaar, Arjun was working as a Senior Product Manager at Amazon.

    Rati Shetty is the CPO of BankBazaar, Born into a family of entrepreneurs she was always naturally inclined to be an entrepreneur. She backed a bachelor’s degree in Business Administration from MOP Vaishnav College in Chennai. After completing her higher education, she spent a couple of years working in Taipei and Miami.

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    How was BankBazaar Started

    All of this dates back to 2007 when one of the co-founders – Rati Shetty was trying to avail a home loan with her husband Arjun Shetty. And the couple realized that getting a home loan in India was not at all easy. They approached several banks and soon were very frustrated as the whole process was both cumbersome and time-consuming.

    As a result, Rati wanted to crack a quick solution to the home loan application process. She did this by turning an entrepreneur who would make the entire process easy. And that’s how the idea of BankBazaar germinated in her mind which she started with Arjun and his brother Adhil Shetty in 2008.

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    BankBazaar – Business Model and Revenue Model

    The whole business model of BankBazaar revolves around the fact that they need to manufacture a totally paperless loaning stage and alter the way customer credits are passed out.

    BankBazaar offers its clients the choice to apply for all types of loans namely Personal Loans, Car Loans, Home Loans, Credit Cards, Fixed Deposits, Health Insurance, Life Insurance, and Car Insurance. And these are some of the revenue yielding sources for this Fintech platform BankBazaar.

    According to a report by Inc 42, in FY16-17, the operational revenue of BankBazaar stood at INR 53.92 Crore, with total revenues of INR 71.16 Crore. And in FY 17-18, BankBazaar closed a revenue of INR 240 Crores. In October the same year, one of the founders, Adhil stated that the BankBazaar platform got close to 23 million visitors, marking a 100% growth from October 2016 which only saw close to 11.5 million visitors.

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    BankBazaar – Funding and Investors

    In 2017, this fintech platform BankBazaar made quite a few headlines for raising a massive $30 Million from the credit reporting agency, Experian. BankBazaar has also raised INR 375 Crore Series C funding.

    Further, to put higher stakes on their international aspirations and increase the profit margins, the company had committed to invest close to $3 Million for expansion in countries like Singapore and Malaysia each.

    To date, it has raised $110 Million through funding from marquee investors such as Sequoia Capital, Amazon, Fidelity Growth Partners, , Experian among others. Here  is a detailed table of the funding raised by BankBazaar till date-

    Date Stage Amount Lead Investors
    March, 2011 Series A $6Million Walden International
    January, 2014 Series B $13Million Sequoia Capital India
    July, 2015 Series C $60 Million Amazon
    October, 2017 Series D $30 Million Experian Ventures

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    BankBazaar – Competitors

    BankBazaar compititors are some companies like Policy Bazaar, Easypolicy, My Insurance Club to name a few. Though BankBazaar is one of the first fintech startups that simplified the complex task of choosing saving and investment tools for the Indian customers,  these competitors are growing to acquire a fair share in the market.

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    BankBazaar – Growth

    With a team strength of over 1000, today BankBazaar is a trusted marketplace for many who are seeking profitable financial instruments for investment. The company claims that in the year 2018, 169 million unique visitors visited BankBazaar’s website to buy financial products.

    BankBazaar started with a few products on its website back in 2008, has now grown to offer a versatile range of financial products that include loans, credit cards, insurance and mutual funds from around 85 partners across the website and mobile application.

    Moreover, with 85 financial institutions on board, BankBazaar added close to 15 to 20 new financial institutions in 2017. Also, BankBazaar added new products to its portfolio including two-wheeler insurance and free consumer credit score in association with Experian. Bank Bazaar also moved on to add completely paperless mutual funds in its versatile product mix.

    According to certain reports, the CEO and co-founder of BankBazaar, Adhil attributes this growth to the company’s significant push towards ‘paperless’ deployment of financial products. At present, close to 60% of their total products on the platform are offered in a paperless digital manner thus not requiring customers to submit any physical documents.

    Frequently Asked Questions About BankBazaar

    When was BankBazaar founded?

    BankBazaar was founded in 2008.

    Who are BankBazaar’s competitors?

    BankBazaar’s top competitors are Coverfox, Easypolicy, PolicyBazaar.

    What is the bankbazaar business model?

    BankBazaar’s revenue comes from applications-based commission from banks. There is no commission or charge to customers.

    How many employees does BankBazaar have?

    BankBazaar has a team of 1050 employees at 5 offices.

    Where is BankBazaar’s headquarters?

    BankBazaar’s headquarters is in Chennai Tamil Nadu, IN

    Who is BankBazaar’s CEO?

    BankBazaar’s CEO is Adhil Shetty.

    How much revenue does BankBazaar generate?

    BankBazaar’s operating revenue grew to INR. 103 Crore.

    What is BankBazaar?

    BankBazaar.com is the world’s first neutral online marketplace that gives customers instant customized quotes on loans, credit cards, mutual funds & insurance products.

    What is BankBazaar credit score?

    A credit score is a 3-digit number between 300 and 900 that describes the credit merit of a credit card holder or of an individual who has taken a loan. Same works for Bankbazaar credit score. In order to grant a loan in India, the potential lenders use the credit scores calculated by CIBIL TransUnion, Experian, Equifax or CRIF High Mark.

  • Indian Startups May Soon Start Listing Overseas

    Indian startups may become the new eye candy for foreign investors as RBI and SEBI come together allowing them to enlist themselves in foreign jurisdiction. The tech ecosystem is flourishing at a steady pace in India. This pace might get some acceleration if Indian startups decide to approach funding by enlisting themselves outside India.

    However, until recently, SEBI, the stock market watchdog, had certain compliances which made listing on foreign exchanges a troublesome task.

    Under the current rules, Indian companies are allowed to issue only specific currencies such as depository receipts on foreign stock exchanges- that too only if you are a company enlisted in India. This is about to change as the government along with SEBI and RBI has now allowed Indian conglomerates to enlist themselves abroad.

    What are the Changes Made by the Government
    Companies that are Seeking Foreign Stock Exchanges
    Benefits of Listing On Foreign Stock Exchanges
    Key benefits of listing Overseas
    Creating a Brand Presence
    Native Concerns
    FAQ

    What are the Changes Made by the Government

    In the Companies (Amendment) bill 2020 passed by Rajya Sabha in September last year, it seeks to amend Sec 23 of Companies Act 2013, which prescribes the manner in which private and public companies may issue securities.

    Earlier, the companies who preferred enlisting themselves on foreign stock exchanges were compelled to do so with several restrictions laid out by SEBI. With the amendment coming into force, not only existing Indian companies but newbies too can enlist themselves under foreign stock exchanges. The center along with SEBI and RBI are working on a framework to bring this into practice.

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    Companies that are Seeking Foreign Stock Exchanges

    Infosys, the Indian tech giant became the first company to get listed on a foreign stock exchange when it enlisted itself on  NASDAQ (National Association of Securities Dealers Automated Quotations) on March 11, 1999. Post Infosys, a number of Indian companies decided to join the league including ICICI, HDFC Bank, Wipro and travel tech company MakeMyTrip.com.

    Along with NASDAQ, there are other exchanges overseas that are trying to grab the attention of Indian companies. Amongst the top ones are NYSE, Tokyo Stock Exchange, London Stock Exchange who are trying to meet Indian firms and lure them into enlisting themselves on these platforms.

    India has more than 30 unicorns such as OLA, Byju’s, Swiggy and Paytm who could be beneficiaries of this government initiative. While this is being applauded and celebrated, UK based Bay Capital announces Pre IPO investment in India’s largest insurance aggregator, PolicyBazar.com.

    Siddharth Mehta, founder and chief information officer of Bay Capital, said, “We are excited to partner with the excellent management team of PB Fintech, which is transforming the way insurance is bought in India. Customer centricity has been the heart of their proposition and has helped them become the platform of choice for customers.”

    Highest Valued Startups in India 2020
    Highest Valued Startups in India 2020

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    Benefits of Listing On Foreign Stock Exchanges

    Indian startup ecosystem has now been exposed to a vast capital market which was in oblivion before the announcement. Of course, there are companies who have taken the road to foreign stock exchanges but notably it took Indian companies 30 long years to finally go abroad.

    SEBI has been a tenacious watchdog and companies have struggled to move out of their regional boundaries. With the changes prompted by the center, Indian companies, especially startups are doing the happy dance since a vast capital market has been exposed to them.

    Key benefits of listing Overseas

    Wider Investor base

    Listing overseas will expose Indian companies to a larger pool of investors broadening their investor base.

    Soared  Valuations

    More investors along with an understanding of global influence, raised cap for funding.

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    Creating a Brand Presence

    Overseas listing has put companies like Wipro, HDFC Bank, ICICI on the global map and will do the same for companies that are considering this move. No pros for any decision exist without their cons. Economic experts fear that Indian companies may face tax complications in a market regulated by foreign law makers. Dual listing may bring concerns over co-existing in foreign waters and on the home ground.

    Native Concerns

    Internet entrepreneur Sanjeev Bikhchandani says an estimated Rs 17 trillion of market cap has been transferred abroad after young Indian Startups were forced to shift their company domicile overseas by foreign investors promising the funds they need for growth.


    There is a fear shared by many economic well wishers that listing overseas would be giving up a part of the ecosystem which is full of potential and may drive the aspiring Indian entrepreneur away from his/her roots.

    FAQ

    Which country has the most number of Startups?

    United states is the country which has the most number of Startups.

    Can Indian companies list overseas?

    Ministry of Finance, Government of India announced that Indian companies would now be allowed to list their shares directly in foreign stock exchanges.

    Is dual listing allowed in India?

    The Indian government has decided not to mandate secondary listing for domestic firms which choose to list on overseas stock exchanges.

    Conclusion

    Indian ecosystem is a hidden treasure which is about to get explored by the global market. Several startups have been meaning to raise funds through ICOs (Initial Coin Offering) which is through crypto funding.

    Apparently, we are running out of investors in India and foreign involvement is seeking an approval at large. While this may be a great opportunity for upcoming companies, there will always be dismay of profits  flowing out of the country.

    Listing overseas calls upon a bundle of opportunities for Indian companies to have a global footprint. It not only will enable India to aspire for a spot in the global marketplace but also will take Indian ecosystem towards becoming a global superpower.

  • Entrepreneurial Quotes And Life Hacks Of Elon Musk

    Elon Reeve Musk is a technology enthusiastic entrepreneur, using his sharp and clever mind in technological investment, and engineering. Elon Musk is trying to save the world by recreating and innovating every industry he has come across with, be it media and finance to transportation and energy.

    He is the Founder, CEO, CTO and Lead Designer of SpaceX and also the product architect of Tesla Inc. He also has other ventures and has a net worth of $171.6 Billion and is the third richest person in the world right now. Musk is one of the most admired people, especially for his creative and innovative skills.

    Life Lessons by Elon Musk
    Top Entrepreneurial Quotes by Elon Musk
    Some small tips from Elon Musk’s speeches at various university
    Elon Musk’s work formula

    Life Lessons by Elon Musk

    Elon Musk
    Elon Musk

    1. Hardwork is the key to success

    Work harder than the average people. Don’t work 100, but 150 percent, which will give you the edge over all the people. Hard work always pays and working hard more than the other humans, will be always beneficial.

    2. Work with smarter guys

    “Show me your friends and I’ll show you your future.” This quote works well while hiring people. If you hire one smart guy instead of 3 normal guys. In that case, one guy working for 1 hour is better than two guys working 6 hours and also saves man-power. It is a mistake to hire huge numbers of people to get a complicated job done. As number will never compensate for talent, getting the right answer will tend to slow down progress, and will make the task incredibly expensive. The personality of a person also matters along with the talent the person has and these two traits go hand in hand.

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    3. Professionalism in business

    Don’t always be nice to people. In business, be as direct as possible. Give higher priority to goals than money. Have a higher goal in life rather than focusing on making money. The money will be the outcome of the higher goals. Know as many details as you can know of your work, to be an expert in your field.

    4. Believe on your decisions

    If something is important enough and there are odds against it, against you, you still have to pursue it. Persistence is very important. You should not give up, unless you are forced by your mind to give up.

    5. Clear vision

    If one has a vision and is continuously working on the idea, then Nothing is impossible. Life is too short for long-term grudges. Know what motivates you. Keeping your eye on the ball is key. The key to success and to fulfill your dreams is having clear vision.

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    6. Listen to your instincts

    Follow your guts. Listening to one’s instincts is natural to everyone but we usually tend to curb down our natural thoughts owing to external response and stimuli. Don’t do it. Follow what your inner mind says and block out all the external thoughts. It is never too late to find out what one loves and pursue it as a dream.

    7. Learn from your failure

    Learn from your failures and keep going. Learn from your mistakes. See what went wrong and what is stopping you from getting the desired results. Work on it and keep moving. Everyone follows the heard, try to break-free of the heard and challenge the norms. The one who breaks the mediocrity are the ones who become successful in life and everyone follows them. Don’t be afraid of new arenas. Always consider failure as an option and keep hustling.

    8. Be like water

    Always have a adaptive nature and be comfortable with the change. No one knows what challenges might come in future. Successful people knows how to adapt to any situation and they continue pushing themselves to reach their goals. No matter what comes in the way, embrace it, and try to solve the problem instead of complaining about it.

    9. Improve the Product, not the marketing

    The bigger a company gets, the more it spends on marketing, and in some cases, their marketing budgets surpass the budget of any other aspect of their business. This means that you are investing more in improving promotion than in improving the quality of your product. Focus on improving the product. The word-of-mouth will do the marketing for you.

    10. Work consistently

    Consistency is the key. It’s matters a lot and takes time. In order to be consistent, you have to maintain positive behavior and perform day after day, until you get what you desire. If you get what you desire, then celebrate for a while. The prizes are not an excuse to take rest. There’s nothing wrong with taking some time to celebrate and enjoy your successes. But yeah, don’t celebrate too much and get derailed from your goal.

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    Top Entrepreneurial Quotes by Elon Musk

    “You get paid in direct proportion to the difficulty of problems you solve”

    “Failure is an option here. If things are not failing, you are not innovating enough.”

    “Persistence is very important. You should not give up unless you are forced to give up.”

    “I don’t think it’s a good idea to plan to sell a company.”

    “People work better when they know what the goal is and why. It is important that people look forward to coming to work in the morning and enjoy working.”

    “Starting and growing a business is as much about the innovation, drive, and determination of the people behind it as the product they sell.”

    “When Henry Ford made cheap, reliable cars, people said, ‘Nah, what’s wrong with a horse?’ That was a huge bet he made, and it worked.”

    “You have to say, ‘Well, why did it succeed where others did not?’”

    “As much as possible, avoid hiring MBAs. MBA programs don’t teach people how to create companies.”

    “Don’t delude yourself into thinking something’s working when it’s not, or you’re gonna get fixated on a bad solution.”

    “I say something, and then it usually happens. Maybe not on schedule, but it usually happens.”

    “If you get up in the morning and think the future is going to be better, it is a bright day. Otherwise, it’s not.”

    “I don’t spend my time pontificating about high-concept things; I spend my time solving engineering and manufacturing problems.”

    “People should pursue what they’re passionate about. That will make them happier than pretty much anything else.”

    “Failure is an option here. If things are not failing, you are not innovating enough.”

    “Being an entrepreneur is like eating glass and staring into the abyss of death.”

    “Really pay attention to negative feedback and solicit it, particularly from friends. … Hardly anyone does that, and it’s incredibly helpful.”

    “You want to have a future where you’re expecting things to be better, not one where you’re expecting things to be worse.”

    “Brand is just a perception, and perception will match reality over time.”

    Some small tips from Elon Musk’s speeches at various university

    • Work super hard.
    • Attract great people.
    • Focus on the things that actually make a difference.
    • Don’t just follow the trend.
    • Take risks.
    • Focus on signal vs noise.
    • Work with the best possible people.
    • Work hard, and work very smart.

    Elon Musk’s work formula

    1. Practice managing cortisol

    The second aspect of this is that when you are with friends, your body gets a rush of serotonin whereas when you are at work, your body gets a rush of cortisol. To adapt biologically to achieve anything that has to do with ~ 16 hours of work per day, one has to embrace a very good response about cortisol rush.

    2. Look to the solution

    No matter what the situation is, you have to look at the situation from the point of view of an problem, and deriving an solution. And this is a hard but possible way to do it.

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    3. Calibrate each task

    Learn to get more efficient at embracing stress. To do this, “calibrate each task”. Think about a simple situation: You head out of your home to catch a flight, and you are stuck in traffic. Your stress level increases very quickly. If you were to calibrate this and say – no matter what the traffic conditions are, no matter what the weather is – the journey to the airport from my home takes ~ 35 mins. Then if you take ~ 55 minutes in hands and travel accordingly you cannot be stressed out.

    4. Do not stress

    Most efficient people do not stress about a problem. They just identify it quickly, plan a good solution, and work on the solution. Their stress level remains low enough, and therefore they are able to make this a habit.

    Rules of success of Elon Musk

    5. Do not let others get stressed out

    When one person in the team panics, many others panic. It is very important to keep a very cool temperament when stressful situations arise. If a soccer team coordinates well, while keeping a cool temperament, they can win a match with one fewer player. But if one player demoralizes the whole team, they can  never win a match.

  • What is a Business Model? Types of Business Models

    Ever wonder how businesses work? What goes on behind-the-scenes? How Google makes money? Or how there’s a McDonald’s a stone’s throw from wherever you are! Every business follows a certain style of working. And that style is its business model.

    A business model is a framework that defines how you generate long-term value in terms of revenue by providing value (products/services) to your customers. Here, comes an exhaustive but hopefully not exhausting list of business models that various companies have adopted and modified according to their needs. I bet my non-existent Cadillac that you have heard of them.

    Types of Business Models

    1. Hidden Revenue Business Model
    2. Advertising Business Model
    3. Razor Blade and Reverse Razor Blade Model
    4. Franchise Business Model
    5. Direct Sales Business Model
    6. Peer-to-Peer Business Model
    7. Subscription Business Model
    8. Freemium Business Model
    9. Customization Business Model
    10. User-Generated Content Business Model
    11. Multibrand Business Model
    12. Attention Merchant Business Model

    How to Write A Business Model?
    FAQ’s

    Types of Business Models

    The Ancient Three

    These are the oldest and most basic business model types. They were popular before the time of computers and spreadsheets. All subsequent models evolved from:

    • Manufacturer: Conversion of raw materials or assembly of pre-made parts into finished goods is the job description here. The sales can be taken care of by the parent company or outsourced. Say, cement manufacturers.
    • Distributor: This person acts as the in-between for manufacturers and retailers/customers. For example, auto dealerships.
    • Retailer: Through a physical or online location, the retailer purchases products from the manufacturer/distributor and sells them to the public.

    1. Hidden Revenue Business Model

    “Google, Facebook“
    I’m sure you wonder how the owners of Google and Facebook are oh-so-rich when you have probably never paid a cent to use their services. Consider google. It charges its users not in money but in data. The keywords searched are sold to the highest bidder who then sends you ads relevant to your searches.

    Also, the ads you see on many webpages are ‘spaces’ rented out to advertisers. Every click or action pays the website owner a commission. Google has adopted an advertising business model within a hidden revenue model. Facebook works similarly using targeted ads.

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    2. Advertising Business Model

    “Buzzfeed, Medium, Google”
    This model is used by firms/companies that have a wide user base or user traffic. They sell digital space to advertisers. The revenue is generated by three modes- cost per click (CPC), cost per thousand (CPT), or cost per action (CPA). This model works only if the content generated engages and retains the audience. There is a tradeoff between user experience and the need to generate revenue. There is also the issue of trust. The important thing is to never sacrifice quality chasing clicks.

    3. Razor Blade and Reverse Razor Blade Model

    “Gillette, X-box”
    The strategy here is to pair a dependent good with a consumable good. The former is sold at a very low cost and the latter at a high price.

    Let’s take a look at these business model examples.

    Gillette                                                                                                                                   Its inexpensive razor and expensive blades. A periodic income is generated for the owner. The company revolutionized this business model and is aptly named.

    Apple
    Apple’s products such as MacBook, iPhones, etc., are priced way higher than their manufacturing and any additional production costs but the additional features such as iTunes and the play store come at a nominal cost.

    What Is A Business Model
    Razor Blade and Reverse Razor Blade Model

    4. Franchise Business Model

    “McDonald’s, Starbucks“
    A franchise is an agreement between a franchisor and a franchisee. The latter buys the right to use the established name, trademark, operational strategy, and sell products under their name. The fee paid is known as the licensing fee and apart from that, the parent company charges royalties which is a percentage of gross sales.  The former takes care of the overall and affiliate operation strategy such as products and advertising. A franchise is a much safer operation as compared to starting a business from scratch.

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    \

    5. Direct Sales Business Model

    “Avon, Amway, Herbalife”
    There are no retail stores. An army of salespeople connected with the company act as links between the company and the retailer or customer. The product demonstration takes place in the customer’s home or any business setting of the salesperson’s choosing. He/she takes a cut of the sale made, while the parent company retains the rest.

    6. Peer-to-Peer Business Model

    “Airbnb, Uber“
    This is the buyers-meet-sellers model. The company provides a platform for that. There is no physical inventory for which the company takes responsibility. Their only duty is to assure the users of their credibility. Therefore, this is a model of minimum responsibility and risk. Revenue can be generated in a variety of ways:

    • Charging a fee from sellers for using the platform
    • Charging a fee for advertising
    • Getting a cut of buyers’ successful transactions

    7. Subscription Business Model

    “Netflix, Digit, Dollar Shave”                                                                                         One of the more popular and successful business models. Periodically- say every month or year, an amount is charged. A subscription model implies a continued relationship with the customer. In order to retain your customer base, new and updated content must be provided regularly. A subscription is much more beneficial than pay-per-product or lifetime access as it generates steady revenue at manageable content updation costs.

    Subscription Business Model
    Subscription Business Model

    8. Freemium Business Model

    “LinkedIn, Skillshare”
    Companies implementing this model offer a basic set of features for free to establish how their product works. It is one of the successful business models in India. This builds a relationship with the customer. If the user is satisfied, he/she may pay an amount to access the premium features of the product, have an ad-free experience, or utilize any such service the company chooses to provide.

    Companies utilizing this model are often those which offer personal or business services. LinkedIn for example services HR as well as job-seeking professionals. The platform, for a fee, makes it more sophisticated for the users to meet their requirements.

    9. Customization Business Model

    “Nike, Tailoring industry”
    Customization took the industry by storm. There was no better way to make customers feel as if the product was made for them unless you actually made it for them. With the advent of 3D printing, customization has become all the easier with the availability of build-on-demand services. Every transaction is unique to the customer. Nike’s custom shoes are an example of customization on a large scale.

    10. User-Generated Content Business Model

    “Quora, Youtube, Reddit“
    Content is generated by the users. But the users get paid neither do they pay. Their reward is recognition for their content. An advertising business model is used within the model. The revenue is generated as per the same. A system of ranking based on ‘likes’ or popularity attracts the user base.

    What Is A Business Model?
    User-Generated Content Business Model

    11. Multibrand Business Model

    “Unilever, Kering Group”
    One corporation owns many brands none of which are marketed in relation to each other or the parent company. Take Unilever for example. It owns over four hundred brands. You might have heard of Dove, Lipton, Magnum, and Pepsodent. See how diverse their product portfolio is?

    The supply chain, marketing & branding strategy, and other key operations are centralized while product research & development, and other product-specific operations are decentralized to ensure creativity. The independent nature of this model allows the corporation to enter any market from ( economical to luxury ) without affecting its existing product range and sales. Unilever is the fourth largest advertiser in the world.

    12. Attention Merchant Business Model

    “Snapchat”
    This business model aims to capture human attention for extended periods. This again has an advertising business model hidden within. Snapchat with its face recognition and corresponding ‘filters’ managed to keep its users clicking ‘selfies” nonstop. They also gather the geographic data of the user after obtaining their permission. The data is theirs to use. This is a risky business model and is dependent on the number of consumers.

    Business models are not mutually exclusive. More than once you have seen how one model is hidden in another. The aim is to find the model best suited for your business. The list does not stop here. Since every company has given it’s model a unique twist, it is safe to say there are as many business models as there are companies. However, I have covered the most well-known companies or list of business models and I hope you have a better understanding of how they work.

    How to Write A Business Model?

    Simple steps to writing a business model:

    • Identify your specific audience.
    • Establish business processes.
    • Record key business resources.
    • Develop a strong value proposition.
    • Determine key business partners.
    • Create a demand generation strategy.
    • Leave room for innovation.

    Learn How To Make More Money With Business model of YouTube.
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    FAQ’s

    1. What is a Business Model?

    Business model meaning: A business model is a framework that defines how you generate long-term value in terms of revenue by providing value (products/services) to your customers.

    2. What are examples of business models?

    Business models example: direct sales, franchising, advertising-based, and brick-and-mortar stores are all examples of traditional business models. There are hybrid models as well, such as businesses that combine internet retail with brick-and-mortar stores or with sporting organizations like the NBA.

    3. What is a startup business model?

    A business model explains which consumer pain your startup chooses to relieve, why your solution works better than competing ones and how big a wedge a company can drive between what customers are willing to pay and the costs.

  • Government’s New Guidelines for OTT Platforms Explained

    OTT platforms have been growing in India at a fast pace. The OTT market in India is expected to emerge as the world’s sixth-largest by 2024. The OTT market is also expected to grow at a CAGR of 28.6% in the next four years. There are currently about 40 providers of over-the-top-platforms (OTT) in the country.

    India saw a 30% rise in the paid subscribers on OTT platforms. The total number of subscribers is now at 29 Million (around INR 212 crores). The increasing viewership and the exponential growth of the OTT platforms in the country have led the government to put in new rules and regulations for the OTT platforms. The government wants OTT platforms to be accountable for their content.

    The recent issues by certain communities on the web series released by the OTT platforms and considering various other reasons, so the government has come up with the new regulations and rules.

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    Government’s Guidelines for Social Media Platforms

    The New Guidelines for the OTT platforms are:

    The Three Level Adressing Complaint
    The Ratings
    Content Classifications
    Challenge Ahead for OTT Platforms
    FAQ

    The Three Level Adressing Complaint

    OTT platforms will have to formulate a grievance mechanism which will consist of three levels. The rules require two levels of self-regulation.

    First level

    First level is a self-regulation by the OTT platform by appointing a grievance redressal officer. The officer will be responsible for redressals from various individuals. This will be part of the OTT platform.

    Second level

    Second level is an institutional self-regulatory body. It will comprise the industry experts in the field of OTT. This self-regulatory body will be headed by a retired supreme court or high court judge. It can also be headed by other famous or respected personalities in the relevant industry.

    Third level

    Third level is a regulatory body which will be interdepartmental. The committee will be set up by the government. This committee will hear the appeals arising out of the decisions taken at the second level. This regulator body will also take up complaints referred by the Ministry of Information and Broadcast (MIB).

    The Ratings

    Last year the government had issued rules to provide ratings for the OTT contents proposed by IAMAI (Internet and Mobile Association of India). They will be similar to the age-sensitive categorizations which are U/A, U/A7+, U/A13+, U/A16+, etc.

    The OTT platforms are required to self-categorize the contents on these five age-based categories. It is an initiative by the government to bring in censorship to the OTT platforms.

    Market Share of OTT Platforms in India
    Market Share of OTT Platforms in India

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    Content Classifications

    The OTT platforms are required to differentiate all films, series, and other shows based on certain parameters.

    First parameter

    First Parameter would be the age of the viewers. The OTT platforms will have to classify their contents based on a different age. This is mainly to avoid children from watching A-rated films, series, or other shows.

    This method is already part of the movies released in the theatres. An individual who is below the age of 18 will not be allowed to watch an A-rated movie in a theatre.

    Second parameter

    Second parameter would be according to the themes and messages. Again, it is a step by the government to ensure that the children are watching relevant content.

    Third parameter

    Third parameter would be to classify the OTT contents would include based on violence, nudity, sex, language, substance abuse, horror, content, tone, and impact the target audience

    Fourth parameter

    Fourth Parameter would be enabling of parental locks. Certain OTT platforms like Netflix already have parental lock enabling features. With the introduction of these new rules, it will be mandatory for all the OTT platforms to provide a parental lock for their contents. Parental locks are supposed to be activated for contents classified as U/A 13+ or above.

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    Challenge Ahead for OTT Platforms

    Dealing with complaints of the users will be a big challenge for the OTT platforms in India. India has a diverse culture and beliefs. A certain community would find an issue with a content while others would be fine with it. The demand will differ according to the communities.

    It is not clear how OTT platforms are expected to practically address grievances from different users. While some content may be found offensive by a certain community, it would be popular among the other community.

    FAQ

    What is an OTT platform?

    OTT (over-the-top) is a means of providing content over the internet at the request and to suit the requirements of the individual consumer.

    How many OTT platforms are there in India?

    There are currently over 40 providers of over–the–top media services (OTT) in India.

    Is YouTube an OTT Platform?

    Yes, YouTube comes under OTT Platform.

    Conclusion

    The oversight mechanism introduced by the government will increase the power of government in the overall operations of the OTT platforms in India. However, an institutional self-regulation mechanism will help the users to express their concerns. It will help them express it through a formal channel within certain time frames.

    The fine print of the rules is yet to be made public. Some experts said that regulation of OTT is considered Unconstitutional. It is expected that India’s new rules on the OTT platforms will increase the content-related quarrels.

    Until now the content on the OTT platforms like Netflix, Amazon Prime, Hotstar, etc. was unregulated, it wouldn’t be the same moving forward.

  • Reasons Why Packers And Movers Business Model Is So Successful

    Home and office relocation is one of the tedious processes and without professional assistance, it will be a difficult process for people while shifting their belongings. To meet the requirements of individuals for the relocation, packers and movers plays an important role.

    Packers and movers provide top quality packing material and also ensures about security and safety of each item.

    The packers and movers offer end to end shifting options and it is designed as per a client’s requirements and offers a vast range of household, corporate, commercial shifting services. Presently, there are several providers of the business model of packers and movers, which helps people in identifying a list of packers and movers from India and overseas. The motive of the platform is to assist people in finding their packers and movers, which are suitable for their relocation needs.

    This professional service provides customized moving services for domestic as well as international relocation services.  The website has attempted to enlist professional packers and movers from each part of the metropolitan urban areas.

    About Packers And Movers Business
    The Business Model of Packers and Movers
    The Process That Packers and Movers Follow
    What Makes The Packers And Movers The Best in The Industry

    About packers and Movers Business

    The packersmovers.com is a one-stop platform for getting various solutions on relocation. The website has a vast network of packers and movers service offerings, which are trusted and operating throughout the country. With this one can assure you of getting the most steadfast solutions in the field of household and office relocation.

    The logo of Packers Movers
    The logo of Packers Movers

    What makes them a unique platform is their business model and online directories for packers and movers in India as they deliver verified relocation services at economic quotations. The site has a vast variety of packers and movers organizations that are enlisted on the website. The website carries all the measures while conducting the screening process to ensure flexibility,

    It has passed through all the required measures of screening for ensuring suitability and legitimacy. It covers all the geographies of the country’s urban areas.

    The team of professionals employed at these companies are trained and experienced to handle all kinds of goods efficiently. The noteworthy aspect of the website is that it prefers quality over quantity and introduces its customers to a selected group of trustworthy and highly acclaimed companies.

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    The Business Model of Packers and Movers

    The Packers and Movers do not provide any relocation services directly to people. It is only a trustworthy online reference platform to find the best packers and movers in India. The packersmovers.com operates in all major metros of India. The packers and movers business model are known for cost calculator that has made the decision-making process easier as it just requires the customer to enter a few details of your move on the website to get the moving cost estimate within a few minutes.

    ‌The key specialized offerings of the packers and movers are packing, loading, transporting, unloading, and unpacking. The final relocation charges are dependent on various factors packaging cost, labour cost, fuel cost used in transportation, insurance (if applicable), taxes, etc.  Perishable items, plants, flammable liquids, pets, valuables, corrosives, and hazardous materials will not be relocated by the packers and movers.

    The Benefits of hiring packer and movers
    The Benefits of hiring packer and movers

    GST rate –  When a person uses all of the company’s relocation services, such as packing, loading, and unpacking, the GST rate applied to the services of packers and movers is 5%.

    Charges or rates of packers and movers in –  The packers and movers charges are Rs 3,000 to Rs 18,000 for local shifting up to a distance of 13 km to 30 km and Rs 5000 to Rs 20,000 for distances greater than 31 km.

    Factors on which Packers and movers charge moving costs –  Distance between current and new locations, packing materials used, labour charges, and the number and size of items to be relocated are all factors.

    Local Relocation Cost
    Transportation cost Rs 1,000 to Rs 4,000
    Packing, loading & unloading Rs 2,000 to Rs 6,000
    Domestic Relocation Cost
    Up to 400 km Rs 4,000 to Rs 30,000
    400 – 800 km Rs 6,000 to Rs 40,000
    800 – 1300 km Rs 7,000 to Rs 45,000
    1300 – 1900 km Rs 8,500 to Rs 50,000

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    The Process That Packers and Movers Follow

    The following steps are included in the relocation process carried out by professional packers and movers.:

    • Conduct a pre-move survey of the customer’s location to record the relocation’s specifics.
    • Disassembling all furniture, electrical appliances such as televisions, and other items to make the relocation more manageable.
    • Transportation of belongings from one location to another.
    • The items are being unpacked at the location.
    • Using high-quality packing materials to pack everything.
    • Unloading the items from the truck with care.
    • The transaction is completed with full payment for their services.
    • Loading all household items into the transport vehicle with care.
    The process of packers and movers
    The process of packers and movers

    What Makes The Packers And Movers The Best in The Industry

    While every other shifting company assures its clients of its user-friendly services, the website emphasizes spot-free results than lavishly propagating our services. The key aspects that make them on the top of the market are:

    • Customers are given a comprehensive moving guide. This enables them to obtain all of the useful tips on various aspects of moving, such as pre-relocation tips and various ways to reduce the scope of damages.
    • Using guidelines will assist customers in fully preparing on their end, reducing hassles and ensuring a smooth relocation.
    • Customers’ needs are well understood by packers and movers, who provide them with free quotes on a variety of customised services. This allows them to negotiate more effectively with the representatives.
    • In terms of customer satisfaction, the website enables its users to receive expert advice from renowned translocation experts on how to have a safe and cost-effective relocation experience.
    • The experts also provide reviews about various packers and movers on our website, assisting users in selecting the best transportation services.
    • Their customers submit questions about various aspects of relocation to their website. Using these Frequently Asked Questions (FAQ), one can quickly find a solution to his or her problem…

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    Home Relocation Services

    The amount of work involved in a home relocation service is extensive, and it can be stressful. This is why many people choose to hire home shifting services from reputable movers and packers. These companies have many years of experience and expertise in completing a domestic move within the city or across town. They perform the relocation task using modern and advanced techniques.

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    Office Relocation Services

    You may be planning to relocate to a larger space, open a new branch, or renovate your current office; whatever the reason, you will require office relocation services to ensure a smooth transition. Seeking professional help from reputable packers and movers to ensure a smooth moving experience. Hiring an established team of packers and movers would likely save people money on relocation plans, infrastructure, equipment, shipping of old office appliances, and a quote for the entire procedure.
    Packers and movers can also help you with legal paperwork to obtain business and construction permits. Providers of office relocation services bring high-quality packing materials and tools.

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    FAQs

    What is packers and movers business?

    The packers and movers service providers offer end to end packing and shifting services which include, disassembling and packing household goods e.g. furniture, home and kitchen appliances, kitchen items, bedding, etc.

    How much do packers and movers charges?

    The fee charged by packers and movers will vary as per the number of items to be moved, weight of the items, distance to be covered, and such other factors.

    Which is the best packers and movers in India?

    List of Best Packers And Movers in India:-

    • Kuber Logistics Movers and Packers Pvt.
    • Maxwell Relocations.
    • Urban Relocations Packers & Movers.
    • Agarwal Packers and Movers.
    • Happy Packers & Movers Pvt.

  • New Guidelines for Social Media Platforms Explained

    The government had issued new rules and guidelines for the social media intermediaries and social media platforms in the country. On 25 February 2021, the Ministry of Electronics and Information Technology has announced its draft Information Technology (Intermediary Guidelines and Digital Media Ethics Code) Rules, 2021, for social media platforms.

    Ravi Shankar Prasad announced during a press conference that these rules are not a newly framed one but were already the existing ones under the IT act. He also said that he is trusting the platforms to follow these rules. Self-regulation will be the focus of these guidelines.

    The rules have provided a difference between significant social media intermediaries and regular social media intermediaries.
    The new guidelines for the social media platforms are:

    Social Media Intermediaries
    Identifying the originator of a message
    Verification of Users
    FAQ

    Social Media Intermediaries

    Social Media Platforms with a minimum of 50 Lakh registered users in India are under the group of significant social media intermediaries. They are subject to maximum compliance.

    However, the government wants other Social Media platforms to comply with the rules and regulations applicable to these significant social media intermediaries. That is only if the services of these platforms create a risk in the integrity and sovereignty of the country.

    The government wants social media platforms to come up with a mechanism where users can express their complaints. It wants Social Media intermediaries to have the following:

    Chief Compliance Officer – The Chief Compliant Officer will be responsible to maintain compliance with the rules and Acts.

    Nodal Contact Person – The Nodal Contact person will be responsible for maintaining contact with the law enforcement agencies (the government) 24/7.

    Resident Grievance Officer – The Resident Grievance Officer will be responsible for managing the grievances from the users and is expected to perform the functions that are mentioned under the mechanism of Grievance Redressal.

    All the above mentioned officers have to be a resident of India. Even the significant social media companies are supposed to have a physical contact address in India. This will create an impact for the foreign players because they will have to set up an infrastructure and extend resources and taxation.

    The government says it is a step to strengthen social media users and other intermediaries. The government wants a Chief Compliant Officer even for significant social media companies. According to the new guidelines the companies will need to publish a monthly compliance report as well.

    Ravi Shankar Prasad, the Union Minister said that “If there are complaints against the dignity of the users, particularly nudity, women that exploit their private parts or of any other individual, sexual acts, impersonation, etc. should be removed within 24 hours.”

    The significant Social Media intermediaries are expected to come up with technology-based measures, automated tools to identify abusive contents and information, child sexual abuse, rape, or any other information which was previously removed.

    Most popular Social media Networks
    Most popular Social media Networks

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    Identifying the originator of a message

    The rules also require significant social media to track the origin of a message. They are supposed to track the “first originator”. This means that your messages wouldn’t be end-to-end encrypted anymore. The Social Media apps like WhatsApp, Telegram, etc. will be forced to break their end-to-end encryption.

    The government has said that they are interested in the content of the message but they would want to know who created it. This will be mainly concentrated on messages which are passed on related to the security and sovereignty of India, public order, or concerning rape or any other sexual content.

    The government wants the social media intermediaries to disclose the “First originator” of such messages.

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    Verification of Users

    The significant Social Media intermediaries are supposed to provide a system for the verification of users. For example, through mobile numbers. It is on a voluntary basis.

    According to the rules, “users who wish to verify their accounts voluntarily shall be provided with an appropriate procedure to do it. They will be provided with a demonstrable or a visible mark of verification with a tick or a dot.

    It can be a setback on the user’s privacy even though the verification is on a voluntary basis. The user’s information that is collected can become a part of the privacy policy which the social media platforms have the right to use. The users wouldn’t have an option. They will have to consent to the platform’s privacy policy.

    FAQ

    Who regulates social media in India?

    Ministry of Information and Broadcasting regulates social media in India.

    What is the most used social media platform in India?

    Facebook is the most used social media platform in India.

    Which social media company Facebook owns?

    Facebook currently owns Instagram and WhatsApp.

    Conclusion

    Even though after the implementation of the new guidelines, foreign players would still be interested in setting up their business in India because there is an absence of a registration or a mandatory licensing framework for the digital media business. The rules will be put in effect once it is published in the gazette. The additional due diligence which is meant for the significant social media intermediaries will come into effect 3 months after the publication of these rules.