StartupTalky

Tag: Digital Technology

  • Amount: Leading the Banking Revolution

    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 Amount.

    Meeting the consumers’ and small business banking customers’ evolving needs and expectations is imperative for financial institutions to remain competitive in today’s increasingly crowded marketplace. However, most financial institutions struggle to adapt and evolve with customer demand since they feel constrained by monolithic, inflexible platforms and overwhelmed by multiple-point solutions.

    It is when Amount comes into the picture. This private fintech company is recognized for accelerating seamless omnichannel customer experiences by offering a full suite of end-to-end retail banking and point-of-sale solutions.

    In this article, let’s explore the story of Amount, its founders, business model, funding and growth details, partners, and more.

    Amount – Company Highlights

    Company Name Amount
    Headquarters Chicago, Illinois, United States
    Sector Fintech
    Founders Albert Goldstein
    Founded In 2020
    Revenue $1B (2022)
    Website Amount.com

    Amount – About
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    Amount – About

    Headquartered in the United States, Amount is a digital technology company that accelerates digital transformation for financial institutions. It builds software that re-engineers consumer, small companies, and embedded finance solutions to provide simpler, safer, and more convenient banking solutions to today’s digital-first customers.

    10 leading banks, including HSBC, Regions, Banco Popular, T.D. Bank, and Avant, use Amount’s technology to simplify their transition to digital financial services.

    Amount – Industry

    Amount belongs to the financial technology industry as it leverages products and services to help financial institutions transform digitally. Financial technology (Fintech) can be defined as the application of the latest technological advancements to the financial industry’s products and services and aims to automate and improve the delivery and use of financial services.

    The global market size of fintech technologies was valued at $110.57 in 2020 and is estimated to grow to $698.48 billion by 2030, at a CAGR of 20.3% from 2023 to 2030. With Fintech allowing providing more convenient, simple, and transparent financial services, more and more people prefer using digitalized and innovative Fintech solutions.

    Fintech sector revenue worldwide in 2017 and 2018, with a forecast until 2024
    Fintech sector revenue worldwide in 2017 and 2018, with a forecast until 2024

    The pandemic significantly accelerated the financial products and services being purchased online, prompting the need for digitalized banking experience. In addition to Amount, Blend, nCino, Divido, Plexian, and Personetics are some companies providing technology to banks and financial institutions.

    Amount – Founders and Team

    Albert Goldstein is the Founder and Executive Chairman of Amount. He completed his graduation from Gies College of Business at the University of Illinois Urbana-Champaign with a B.S. in Finance, Math.

    Avant’s Founder and Executive Chairman, Albert, is also the Founding Board Member at Spring Labs, Board Member at U.S. Wrestling Foundation, and Co-Founder, Chairman & CEO at StoicLane.

    Albert Goldstein - Founder and Executive Chairman, Amount
    Albert Goldstein – Founder and Executive Chairman, Amount

    Adam Hughes is the Amount’s CEO, and Raj Kolluri is the CTO. Talking about the team size, Amount is currently working with 400 employees.

    Amount – Startup Story

    Amount was spun out of Avant in February 2020 as a new financial technology business. Initially, this tech business was named ‘Powered by Avant.’ Two or three years ago, Avant realized that there was a gigantic opportunity to build a standalone technology business that was completely different from its vision and goals in terms of serving partners and banks.

    Moreover, Albert Goldstein considered establishing Amount as a separate brand to avoid confusion between Amount as the technology provider and Avant. The company was initially started as a business providing technology around personal loans- helping banks deal with fraud and understanding how to host credit policies and service loans digitally.

    After some time, the company’s vision expanded to help banks digitize their financial services.

    Amount – Mission and Vision

    Amount aims to help financial institutions’ go digital in months – not years,’ enabling them better compete with fintech rivals.

    Amount – Business Model

    Amount partners with several banks and financial institutions to help them rapidly digitize their financial infrastructure providing a competitive edge in the retail lending and buy now, pay later sectors.

    Its ‘battle-tested’ retail banking and point-of-sale technology provides those financial institutions a way to offer a secure and seamless digital customer and merchant experience by leveraging Amount’s analytics and verification capabilities.

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    Amount – Products and Services

    Amount offers point-of-sale financing products with multiple features, including applicant sourcing, application capture, fraud prevention, verification, decisioning engines, and account management.

    Amount – Challenges Faced

    As the company grid for economic turbulence in 2022, it laid off 18% of its staff, i.e., more than 100 employees.

    Amount – Funding and Investors

    Amount has undertaken 4 funding rounds and raised $283 million. Its latest funding round – Private Equity Round, was conducted on May 19, 2022, and raised a total of $40 million. 10 investors back the company, and Hanaco Venture Capital and WestCap are the recent ones.

    Date Round Number of Investors Money Raised Lead Investor
    May 19, 2022 Private Equity 2 $40 million –
    May 17, 2021 Series D 6 $99 million WestCap
    December 2, 2020 Series C 5 $86 million GS Growth
    March 17, 2020 Series B 2 $58 million QED Investors

    Amount – Mergers and Acquisitions

    Amount acquired Linear Financial Technologies on February 1, 2023.

    Amount – Patents and Trademarks

    Amount is registered with 3 trademarks, categorized into the ‘Insurance; Financial Affairs’ class.

    Amount – Growth

    In 2022, the estimated annual revenue of Amount was $55.1 million per year ($173,407 per employee), with a $1 billion current valuation. Moreover, the monthly web visits grew by -89.75%, with 7,936 visits. And its employee count elevated by -4% last year.

    Amount | Accelerating the World’s Transition to Digital Financial Services

    Amount – Partners

    Amount has partnered with:

    • Mastercard Engage Partner Network
    • PSCU
    • Marqeta
    • Barclays

    Amount – Awards and Achievements

    Some of the awards Amount garnered are:

    • Won the Best Workplaces in Chicago award in 2020
    • Adam Hughes recognized among Top 50 Financial Technology CEOs of 2020

    Amount – Competitors

    Some of Amount’s main competitors are:

    • Credi2
    • equipifi
    • Jifiti
    • Blend
    • Figure Technologies Inc
    • Plexian
    • Personetics
    • TelosTouch

    Amount – Future Plans

    Amount plans to invest its capital in its technology and products to further accelerate R&D. Moreover, the company will be acquiring some.

    FAQs

    Who is the founder of Amount?

    Albert Goldstein founded Amount in 2020.

    Who is the CEO of Amount?

    Adam Hughes is Amount’s CEO.

    What does Amount do?

    Amount accelerates seamless omnichannel customer experiences by offering a full suite of end-to-end retail banking and point-of-sale solutions.

    Who are the main competitors of Amount?

    Some of Amount’s main competitors are:

    • Credi2
    • equipifi
    • Jifiti
    • Blend
    • Figure Technologies Inc
    • Plexian
    • Personetics
    • TelosTouch

  • XR Central – Providing Extended Reality-Based Solutions for Metaverse Creation

    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 XR Central.

    Metaverse, a 3D immersive digital reality technique that combines augmented reality (AR), virtual reality (VR), mixed reality (MR), blockchain, and IoT to create a virtual world and collaborate within it. The global metaverse market was valued at $41 billion in 2021. According to ‘Metaverse Market Report 2022’ by Grand View Research, the global metaverse market size is expected to grow to reach $678.8 billion by 2030. Extended reality(XR) are the building blocks of the metaverse. that will help in uplifting the user experience in the metaverse.

    XR Central is a metaverse technology based startup that provides innovatively designed solutions for metaverse creation for a diverse array of industries. Read to know about XR Central, its founder, the startup story, growth, and more.

    XR Central – Company Highlights

    Startup Name XR Central
    Headquarters Gurgaon
    Industry Metaverse Technology
    Founder Shrey Mishra and Anshul Agarwal
    Founded 2020
    Website xrcentral.tech

    XR Central – About
    XR Central – Industry
    XR Central – Founders and Team
    XR Central – The Idea and Startup Story
    XR Central – Products and Services
    XR Central – Challenges Faced
    XR Central – Growth
    XR Central – Tools Used in the Company
    XR Central – Recognition and Achievements
    XR Central – Future Plans

    XR Central – About

    XR Central is a Gurgaon-based metaverse technology startup. It was founded in 2020. XR Central has a vision to democratise extended reality technology and the metaverse. This means empowering businesses and individuals to use the metaverse to solve a diverse group of problems. When they bring new technology to the masses, it always leads to a leap in innovation which benefits and impacts many industries.

    XR Central – Industry

    The metaverse and XR industries are expanding at a phenomenal pace. There has been a large influx of investment by private and government entities in the field, and the market is projected to grow at a rate of 57.91%. The regions where most growth is projected is the Asia-Pacific region, and they anticipate that products from this region are poised to take the lead in metaverse services globally in the next five years. In the next year or so they want to introduce MetaQube to markets in the Middle East, European, and North American sectors.

    XR Central – Founders and Team

    Anshul Agarwal - Co-Founder of XR Central
    Anshul Agarwal – Co-Founder of XR Central

    Anshul Agarwal, Co-Founder & Director XR Central, is a mechanical engineer and Master of Business Administration who now spearheads sales, marketing and strategy development for XR Central. He has over a decade’s worth of extensive experience in sales transformation and corporate portfolio management has driven the progression of the XRC and MetaQube brand.

    Anshul has a passionate work ethic and has traveled across the globe to liaise with clients. This empowers him to work closely with individual teams to deliver quality solutions. His robust educational background, coupled with experience in the corporate enables him to meet the expansion requisites of XR Central.

    Shrey Mishra - Co-Founder of XR Central
    Shrey Mishra – Co-Founder of XR Central

    The other half of XR Central is Shrey Mishra, Co-Founder & Director XR Central – a computer science engineer who spearheads technology, operations and product development for XR Central. With 12 years of experience in storytelling and finding innovative, technological solutions to complex problems, Shrey has delivered unique concepts and driven innovation.

    XR Central extends its services to the corporate and commercial segments in particular, and Shrey plays a critical role in the creativity and implementation of the concept. His flair for perfection and innovation motivates the team to experiment with unique ideas and implement them with the assistance of technological processions like Metaverse, Augmented Reality, Virtual Reality, and Interactive technology.

    This passion and synergy between technology and marketing strategy has resulted in the founding of XR Central. They have a flat work structure, which means that they have no hierarchies. Each member of the team is as important as the other and all team members, from interns to engineers, can approach us, the co-founders, without hesitation. They have created an open work environment where team members can brainstorm and experiment without obstacles and deliver the kind of top-notch performance that makes a product truly unique.

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    XR Central – The Idea and Startup Story

    Before XR Central the founder ran one of India’s largest platforms for gaming content, Gaming Central. The highly organic and sophisticated participation of the gaming community coupled with the constant output of the gaming industry made us ask ourselves a question: can gaming be used to solve real world problems? And that was the seed which has led Anshul and Shrey to conceptualise, develop and implement their DIY metaverse builder MetaQube.

    They ideated and designed with a small team of passionate individuals which is growing every day, and they continue to iterate and innovate even now to ensure that their product reaches a level of quality which puts it far above its competitors.

    XR Central – Products and Services

    XRC is an XR (AR, VR, MR & WebGL) based interactive tech studio based out of Gurgaon and is founded and led by experienced industry experts Anshul Agarwal and Shrey Mishra.

    XRC has been delivering a wide range of interactive and immersive XR solutions that have helped brands elevate customer experiences and brand recall. They specialize in metaverse creation for a diverse array of industries, as well as creating interactive design content using immersive technologies such as virtual and augmented reality (MR, VR and AR).

    They are currently developing their flagship product, a powerful, game-engine-based metaverse builder called MetaQube. They provide B2B services and a forthcoming B2C product is in the final stages of development. They have worked with partners like Infosys, HCL, etc. to bring experience centres and immersive experiences to life, and are currently working with a diverse portfolio – from e-sport fan zones to building complex 3D models for training purposes in specialised fields.

    Most of these experiences are run on MetaQube, which will be their B2C product. MetaQube will be a no-code world builder, where you can build a digital environment for your friends and family or at scale for thousands of people in a matter of minutes.

    XR Central – Challenges Faced

    The biggest challenge for them was educating the target audience and educating stakeholders about the possibility of XR. As the age of Web 3.0 arrives, XR technology is seen as the new frontier for experiencing content of all kinds.

    But exposure to new technology in enterprise and wider consumer settings is very limited, and explaining and providing PoC, collating ideas, iterating and reiterating, and defining the full scope is a lengthy process which requires repeated starts and stops.

    They overcame these challenges by creating their own PoCs and developing material to educate people on these new technologies. This is how they have gained the confidence of leading brands.

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    XR Central – Growth

    XR Central work for clients all over the world from its offices in Gurgaon. Their users come from a very wide selection of industries, from aviation to coating manufacturers, and they empower them to build different experiences which connect them to customers, manufacturers, and their stakeholders.

    Some of their notable clients are:

    • Spicejet
    • Taiwanese PC giant Gigabyte
    • Lucknow Super Giants
    • India Art Fair
    • Axalta
    • Forevermark
    • Dell
    • SAP Labs

    The future for XR Central is fantastic because the world is moving towards Web 3.0.

    XR Central – Tools Used in the Company

    Some of the tools XR Central uses for its team and work are:

    XR Central – Recognition and Achievements

    They are always in the news, and have received widespread press coverage for many of their projects. For their project with India Art Fair, they were featured in Financial Express, The Print, Outlook, The Hindu, and Business Today. For their collaboration with GIGABYTE and Lucknow Super Giants XR Central was covered in newspapers all over the world. Over a hundred news and media agencies have covered XR Central’s projects, with glowing testimonials from clients.

    Anshul and Shrey also write a regular column aimed at de-mystifying the metverse and XR technologies for the wider public for The Sunday Guardian.

    XR Central – Future Plans

    As well as the Indian subcontinent, they want to provide services to regions in the Middle East and Europe. Their work is multicultural and intuitive and they are sure they will be able to bring that knowledge to develop timeless metaverse products for a diverse set of countries and audiences.

    FAQs

    What is XR Central?

    XR Central is a Gurgaon-based startup focussed towards metaverse creations and using AR/VR for innovative design solutions.

    When was XR Central founded?

    XR Central was founded in 2020.

    Who is the founder of XR Central?

    Shrey Mishra and Anshul Agarwal are the co-founders of XR Central.

    Is XR Central funded startup?

    Yes, XR Central has raised funding of $135K in a Seed Round.

  • How Technology Can Revolutionize Blue-collar Workforce Management?

    The article is Contributed by Shalin Maheshwari – Co-founder of Meraqui.

    Automation, digital platforms, numerous innovations, and technological advancements are all transforming the fundamental essence of employment in the corporate sector. Although these digital transformations were designed with white-collar labor in mind, they are also being developed for the blue-collar workforce.

    Undoubtedly, the internet, wireless networks, e-commerce, and social media have drastically altered how we interact, live, and work today, especially since the outbreak of the pandemic. Software and algorithms have advanced to the point that they can execute complicated, cognitive, and repetitive functions across numerous commercial applications. The automation provided by technology such as robotics, artificial intelligence, and machine learning promises enhanced productivity, efficiency, safety, and, most importantly, convenience. However, concerns evaluating the impact of machines on work and people have existed since the very invention of machines.

    Thus, let’s take a closer look at how technology can revolutionize blue-collar workforce management:

    Technology Will Not Take Up Employment
    How Can Firms Upskill Blue-Collar Workers?

    Technology Will Not Take Up Employment

    According to a recent PwC global survey, 37 per cent of workers are anxious about the possibility of losing their employment due to automation. Artificial Intelligence (AI) and Machine Learning (ML), for example, are making enormous gains toward developing cutting-edge products that can directly replace blue-collar labor. This is because these positions typically require labor-intensive tasks that intelligent machines can easily complete. Self-driving cars, automated cleaning gadgets, and food delivery drones are just a few instances of how technology can replace employees in their current professions. But this does not automatically imply that blue-collar employees will lose their jobs.

    According to a World Economic Forum report, automation would certainly provide millions of new job possibilities in the future. However, even in blue-collar jobs, professionals will be required to have a working grasp of novel technology such as AI, ML, and data analytics. Professionals will need to undertake major and ongoing upskilling as the nature of occupations changes and become more tech-driven.

    The growing influence of automation, technologies, as well as the accelerated pace of change in employee responsibilities and competencies, make a major shift in the workplace imperative. Many companies have recognized the need to upskill their workers and have already begun training personnel at higher levels of the business. But there are still a few.

    More companies should strive to match staff at all levels with future technology, changing customer needs, and market movements. Companies can make all of their employees capable of adapting to tech-driven disruption within the firm and across the industry by doing so. It also assists blue-collar workers in gaining the knowledge and skills they need to face disruption head-on.

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    How Can Firms Upskill Blue-Collar Workers?

    Companies must explain continuous changes to their workers in order to promote efficient learning and provide a smooth transition for the workforce. Leaders may see training blue-collar workers as a greater problem because they may not be familiar with or even aware of many of the cutting-edge technologies. However, if executives keep the following in mind, they can still carve out an enhanced workforce:

    Map the Skills Gap

    To find out where their blue-collar talent stands in terms of industry-specific skill sets and what competencies are necessary for the market for a successful transition, firms must construct a map of skill gaps. The data and advanced insights about skill gaps will essentially establish the groundwork for building a future road map for establishing development programs and mitigating the effects of the skill gap.

    Engaging Modules

    Organizations must provide compelling learning modules that are easy to understand for employees, especially in the form of videos and audio. They can also be translated into local languages to engage personnel in different parts of the world and make the content easier to understand. The course should introduce employees to the fundamentals and then build on that knowledge to expand their understanding of additional industry-specific principles.

    Customized Learning

    Customization of learning can help accomplish the objective of making modules more understandable for workers in a number of different ways. It’s crucial to remember that every employee is unique in terms of their skills, educational background, and even learning style. Since leaders and managers know their team’s problems and strengths better than anyone else, they can be involved in the formulation of training programs. Companies can use the buddy shadowing approach to get the best outcomes and foster an agile culture by encouraging peer-to-peer learning. They can use gratitude and recognition to empower employees while also guaranteeing nobody is left behind.

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    Conclusion

    It’s simple – technological advancements don’t have to frighten the blue-collar workforce; instead, they should encourage them to master essential skills that will keep them equipped for the future.

  • Top 10 3D Printing Startups In India Shaping The Future of 3D Industry

    3D printing is one of the rising industries in India. Many startups are coming up with different ideas related to this field to bring revolution. So, we will be talking about the 3D printing startups in India in this article.

    These startups have been in this field for some time now and have held good ground. If you go through what these startups work on, you will find a lot of interesting things. Most of them help you print cheap material at low prices. There are also a few startups that are trying to 3D print spacecraft and Some are working on 3d printers which print medical organs.

    In a few years, India will see an uprise of many more able startups in the 3D printing sector. These startups will have immense capability to develop new 3D printing technology.

    Let’s look at the List of top 3D Printing Startups in India –

    1. Objectify Technologies
    2. Pandorum Technologies
    3. Gaags Technologies
    4. Fracktal Works
    5. Altem Technologies
    6. Fabheads
    7. 3D Systems
    8. Digital Dentistry Solutions
    9. Ethereal Machines
    10. Brahma 3
    FAQs

    1. Objectify Technologies

    Objectify Technologies Homepage
    Objectify Technologies Homepage

    This 3d printing company was started in the year 2013 and only had a desktop-based 3D printer. Objectify Technologies is a company that is incubated in IIT Kanpur. This company specializes in various kinds of 3D modelling made of polymers. If you have an idea regarding 3D printing, you can easily approach them and get a consultation regarding your project. They will also help you in additive manufacturing and in reverse engineering components of repairs.

    2. Pandorum Technologies

    Pandorum Homepage
    Pandorum Homepage

    Pandorum Technologies is a unique 3D printing company that does tissue printing. It was founded in 2009 and is based in Bangalore. They print tissues with the help of a combination of cells and a special kind of gel. Using their unique technologies, they have created a 3D printed liver and Human cornea.

    3. Gaags Technologies

    Gaags Technologies Homepage
    Gaags Technologies Homepage

    This is a startup based in Chennai and is working on cutting-edge technology. It was founded in 2016 by Gokul Venkatesh. Gaags Technologies is incubated by IIT Madras. They provide 3D printing, 3D design, and reverse engineering services. If you are an entrepreneur with a 3D model idea then you can approach them for consultation.

    4. Fracktal Works

    Fracktal Works Homepage
    Fracktal Works Homepage

    Fracktal Works is another startup that works in 3D printing technology. This is based in Bangalore and was founded by Vijay Varada in the year 2013. The name is taken from Fracktal which means never-ending and infinitely complex patterns that are typically a graphical representation of a recursive mathematical expression. Their prime product is the Julia series 3D printer which helps in printing objects very cheaply.  

    5. Altem Technologies

    Altem Technologies Homepage
    Altem Technologies Homepage

    Altem Technologies is based in Bangalore and was founded in 2010. It has partnered with Dassault Technologies. They provide advanced 3D printing. It has received the Frost & Sullivan 2017 Award. It provides 3D printing in aerospace, medical, architecture, electronics, and many more.

    6. Fabheads

    Fabheads Homepage
    Fabheads Homepage

    Fabheads is another startup that specializes in 3D printing technology. It is based in Chennai and is incubated by IIT Madras. This startup is founded by Dhinesh Kanagaraj. It has developed several continuous fiber 3D printers. This enables people to create 3D structures at a lesser cost. This company provides 3D printing services in many sectors.

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    7. 3D Systems

    3D Systems Homepage
    3D Systems Homepage

    3D Systems develops software needed for 3D printing. They have developed various apps and plugins for AutoCAD, 73D StudioMax, Inventor, Solidworks, Kubotek, etc.

    8. Digital Dentistry Solutions

    Digital Dentistry Homepage
    Digital Dentistry Homepage

    Digital dentistry solutions is a dental-based company but are also working in the 3D printing area. This company was founded in 2015 and is based in Bhopal. They have pioneered the 3D printing of teeth. It works in the Computer-Aided Design industry and has pioneered cheap ways to 3D print teeth.

    9. Ethereal Machines

    Ethereal Machines Homepage
    Ethereal Machines Homepage

    Ethereal machines fabricate good-quality CNC and 3D printers. It was founded in 2013 by Kaushik Mudda. They have developed a unique additive and subtractive manufacturing and thus reduced cost and risks. Because of this, they can design complex things. They manufacture 5-axis CNC machines and it is one of their prime products.

    10. Brahma 3

    Brahma 3 Homepage
    Brahma 3 Homepage

    It is another very impressive startup working in the 3D printing domain. Recently it has released a 3D printing product called Brahma 3 Anvil. This 3D printer is designed keeping in mind a lot of things. All these features help them in printing good quality designs.

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    Conclusion

    These companies which are listed above have done a tremendous amount of work in 3D printing. In a few years, India will see an uprise of many able startups in the 3D printing sector. These startups have immense capability to develop new 3D printing technology.  

    Apart from all these startups, there are about other 100 startups which are joining the journey of 3D printing. These startups are working in various areas like 3D steel printing, special areas of additive and subtractive measurement, etc.

    FAQs

    Which company is best for 3D printers?

    Objectify Technologies, Pandorum Technologies, Brahma 3, and FabHeads are the best companies for 3d printers.

    What is the biggest 3D printing company?

    3D Systems Protolabs, Nano Dimension, Materialise NV, Stratasys Ltd, ExOne, and Voxeljet are some of the biggest 3d printing companies.

    Is 3D printing the future?

    The 3D printing industry is growing at a fast pace and will be worth 32.78 billion USD by 2023.

  • How AI Can Bring About Next-Level Enterprise Innovation?

    This article is contributed by Mr. Anirudh Kala, Co-founder, Celebal Technologies.

    When we talk about modern technology, one of the biggest inventions has to be Artificial Intelligence (AI). With its undeniable effect, AI is actually taking over the world. In an unbelievable way, it has become a part of our daily lives and is continuously on a mission to change our future. A decade ago, the Sci-fi movies that we used to watch are now unfolding in front of our eyes and are turning into a reality.

    Just like the whole world, India is also experiencing the same reality, in fact, such as the impact that, the 2021 Deloitte State of AI report found that Indian enterprises intend to increase their investments in Artificial Intelligence, based on the returns they have seen on their existing AI investments. Any kind of business can benefit from using AI and innovation in their organization. Becoming data-driven will level the playing field for such enterprises, therefore, allowing everyone to leverage all their data to build better user experiences and increase business agility.
    Artificial Intelligence is not just in the realm of buzzwords and hyped-up technologies anymore. It has gone from a good-to-have to a must-have part of every organization – big and small alike. The pandemic spurred on rapid digital transformations, leading every enterprise to establish a culture of continuous innovation to become more resilient. These digitalization journeys have led to a boost in AI adoption with many enterprises setting up data and analytics infrastructure as the foundation to build AI projects.

    In this article, we will find out how Artificial Intelligence can bring enterprise innovation. Let’s take a look.

    How AI Can Unlock Hidden Opportunities for Businesses?

    Artificial Intelligence has a wide range of applications in the business world. From process automation, and tailored customer services to conversational analytics and predictive analytics, the use cases for AI touch upon all the departments of HR, Finance, Operations, Manufacturing, Marketing, and others. Organizations can use AI to grow their business, increase revenues and business agility, and enhance operational efficiency.  

    • In the financial sector, machine learning algorithms are being designed to improve fraud detection, supplement the risk assessment process, deliver tailored customer recommendations and services.
    • Artificial Intelligence is also empowering the manufacturing sector with demand forecasting, inventory optimization, supply chain analytics, production planning, and many more diverse use cases.
    • With the ability to continuously learn and adapt itself, AI technologies can also help businesses make better decisions that will help predict market changes and help your business be competitive and resilient.
    • Personalized virtual assistants, recommendation engines, predictive analytics are also some of the ways enterprises are leveraging AI to craft lasting customer experiences and stem customer churn.
    • Infusing AI will not only fuel a culture of innovation but also cause immense benefits of reduced expenses, automated processes, faster insights, and improved business continuity.

    Need of AI-Powered Enterprise Chatbots and Cognitive AI

    Artificial Intelligence is showing its mettle in every form, down below some reasons are stated regarding the need for AI-Powered chatbots and Cognitive AI.

    AI-Powered Enterprise Chatbots

    AI-Powered Chatbots and Conversational Voice Bots are essential tools for all brands that want to deliver hyper-personalized experiences, they provide exceptional customer services. Engineering these experiences using conversational AI can boost customer satisfaction, customer loyalty, and increase customer lifetime value.  
    AI-driven Chatbots bring flexibility and versatility to the conversation to understand and even learn from most client queries in multiple languages. AI-enabled Chatbots are important assets for organizations dealing with a massive number of daily customer support queries or having limited customer support staff. One can also leverage chatbots for improving employee collaboration within an enterprise, bringing together business processes and people on a single platform.

    Accelerating Automation with Cognitive AI

    Cognitive AI applications involve embedding AI into cognitive tasks that traditionally require huge amounts of manual effort like scanning invoices and documents, extracting information from an unstructured pool of data, or analysing thousands of images. Face detection, social media sentiment analysis, speech recognition and analytics, risk assessment, knowledge mining, fraud detection, vehicle damage detection are just some of the many ways that AI can assist in improving manual and routine tasks.

    Adding intelligent automation into an enterprise has the benefit of not just replacing manual processes but will help add a dimension of process intelligence. This would involve aiding decision-making with insights into maximizing your process efficiency and predicting organizational changes that could affect your business.

    Conclusion

    Going into 2022, many organizations are going to increasingly move towards AI and integrate it with their business functions. Numbers of enterprises irrespective of their size and expertise will use the power of AI for cost-savings and productivity boosts of their organization. Low code platforms are also making it easier for enterprises to tap into the potential of AI. A proper AI implementation strategy is a must for anyone who wants to partner up with this technology. Partnering with the right technology and software solutions provider will ensure that you remain in the right direction to achieve excellence and a competitive edge.

    FAQ

    How AI will Affect Business?

    AI will mainly save time, costs and will make all the tasks easier, which are quite hard in an enterprise.

    Is AI the Future of Business?

    Undoubtedly, AI will be the future, if it’s not already one. 86% of industries state that AI is becoming the ‘mainstream technology’.

    What will AI do in the Future?

    AI will create 58 million new artificial intelligence jobs by 2022.

  • Why is Facebook launching its own Smartwatch? (Even after the Failure of its smartphone)

    Facebook has recently announced that it would launch its smartwatch during the year 2022. They have also planned to launch the further versions of the watch. However, this is not the first time the company is entering into the hardware technology sector. Let’s look at the latest news about the smartwatch, its features and also look at one of the reasons for the failure of their smartphone.

    Facebook Smartwatch – Latest News
    Features of the Facebook Smartwatch
    Why is Faceboook Launching its Smartwatch?
    Previous products by Facebook
    Reason Why Facebook’s Smartphone failed
    FAQ

    Facebook Smartwatch – Latest News

    Facebook has conveyed that they would release a smartwatch under their brand during the 2022 summer. They have also conveyed that they would release the second and third generations of the watch in the coming years. The first smartwatch of Facebook is expected to be priced at around USD 400 (around INR 29,000) which could have certain changes in the coming years.

    Features of the Facebook Smartwatch

    The watch is expected to be released in three different colour variants namely black, white and gold. The watch will not only have the messaging features but also has a heart rate monitor and two cameras. It is said that the cameras will be able to separate from the wrist in order to take videos and share them on the social media.

    The smartwatch is said to have two cameras, where the front camera can be extensively used for video calling services and the rear camera can be used for video recordings to share it on the social media. The rear camera will have a 1080p auto focus camera.

    One of the most exciting features of this watch is that it can be used without an internet connection and users also have a feature to connect to services of hardware of health and fitness companies in addition to the heart rate monitors of the smartwatch.

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    Why is Faceboook Launching its Smartwatch?

    The main reason for releasing the Smartwatch is to try and replace the smartphones. The smartwatch owners are considered to use the smartwatch for the activities that are done through the usage of Smartphones.

    Mark Zuckerberg also aims to create more consumer and hardware products in order to find a way and compete against the tech giants Apple and Google

    Previous Hardware products by Facebook

    Facebook has a set of hardware products already in the market which include a portal and also a video calling device with a voice assistant which is similar to Alexa or Google’s device. The company had also launched 3 new portals in the year 2019 and currently has 4 hardware products in the market. These products are available in the United States.

    Facebook had also ventured into the smartphone segment in the past with the launch of the brand HTC back in 2013. But the venture had later failed and did not end being successful.

    Reason Why Facebook’s Smartphone failed

    Facebook's First Smartphone - HTC First
    Facebook’s First Smartphone – HTC First

    The smartphone brand of Facebook that is HTC was a global brand and was considered to be one of the coolest smartphones back in the times of its launch. The company’s smartphone brand had lasted only for about half a year and due to the poor sales, they had to slash the price of the phone.

    Even after cutting down the price of the phone, the smartphone sales were really less and sold only about 15,000 phones. Some have estimated that the reason for the failure of the smartphone segment of Facebook was as users did not find a need for such a smartphone at that time and the features of the phone were already present on the mobile applications that were available on the iOS devices and the cheaper Android devices.

    It was found that consumers were not dying to buy Facebook’s phone and there is a difference between the having a phone in the market and having a phone which consumers would choose to buy. One of the major reasons Facebook says they failed was due to the high pricing and poor user interface.

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    Conclusion

    The hardware segment is not an area where Facebook has been successful so far. Majority of the Facebook’s revenue comes through advertising and with the introduction of the Smartphone, Facebook will be venturing into an entirely new segment. However, the company has not yet decided on the name for its Smartwatch segment.

    FAQ

    Did Facebook make a phone?

    Yes, Facebook launched a phone with collaboration with HTC but it was a flop back in 2013. The company created an Android skin for the phone and dubbed it Facebook Home.

    What will be the cost of the Facebook Smartwatch?

    The watch might retail for around $400 (Rs 29,000) and will have three colour options to choose from (white, black and gold).

    When will the Facebook Smartwatch launch?

    The watch is yet to enter mass production but should be available in the summer of 2022.

  • SportVot Startup Story – Digital TV for Local Sports Talent

    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 SportVot.

    SportVot has made streaming sports tournaments a one-click process with the use of smartphones. It is a digital TV for local sports talent and emerging leagues in India. SportVot provides a platform for sport bodies to stream their games online, local sports talent to show their skills, make them more marketable and helps them get discovered by a network of scouts/coaches as well as connect the fans to their local heroes.

    Founded by Siddhant Agarwal, Shubhangi Gupta and Yash Bhagwatkar in 2019, SportVot has managed to build its presence in local areas by covering 5000+ games across 56 different sports, profiling 20,000+ athletes in just 12 months!

    StartupTalky interviewed Shubhangi Gupta (Co-founder & CMO, SportVot) to get an insight on the Startup Story of SportVot. Also get a glance on SportVot Revenue model, funding, growth, marketing strategies and more in this article ahead!

    SportVot – Company Highlights

    Startup Name SportVot
    Founding Team Founder – Siddhant Agarwal (CEO), Co-founders – Shubhangi Gupta (CMO), Yash Bhagwatkar (COO)
    Founding Year 2019
    Headquarters Mumbai
    Sector Sports Media Technology

    About SportVot
    SportVot – Sports Media Industry Details
    SportVot – Founders and Team
    SportVot Ideation – How it Started?
    SportVot – Products/Services offered
    SportVot – Name Meaning and Logo
    SportVot – Business Model and Revenue Model
    SportVot – Startup Launch
    SportVot – Challenges Faced
    SportVot – Marketing Strategy
    SportVot – Growth and Current Status
    SportVot – Funding and Investors
    SportVot – Competitors
    Tools used by SportVot
    SportVot – Recognition and Achievements
    SportVot – Future Plans
    SportVot – FAQs

    About SportVot

    SportVot is a digital TV for local sports talent and emerging leagues in India. Grassroots or local sports tournaments have a longer recall and emotional value with kids, parents and their friends and family. But unfortunately broadcasting them via traditional media platforms is not an economical fit for both the Sports bodies and media houses, leaving about 94% of the ecosystem uncovered.

    SportVot with its technology and services has made broadcasting economical and easily accessible to  these sports bodies. SportVot provides a platform for sport bodies to stream their games online, local sports talent to show their skills, make them more marketable and helps them get discovered by a network of scouts/coaches as well as connect the fans to their local heroes.

    “There are around 10m athletes and 100k tournaments worth streaming in India, we want to grow from 150 to 1000 tournaments in the next one year (by 2022) and unearth more hidden talent in the country” says Shubhangi Gupta, Co-founder & CMO, SportVot

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    SportVot – Sports Media Industry Details

    In India, there are approximately 10 million aspiring/emerging athletes (U-19), and around 100k+ semi-professional/ professional tournaments that takes place annually. But most athletes do not get access to the right set of tools and platforms to showcase their talent. This results in a lack of transparency in talent discovery which in turn increases the number of dropouts in the Indian Sports Ecosystem.

    The sports media revenue in the Asia Pacific is estimated to grow to up to USD 6.6 billion by the end of 2024. Out of this, 40% is estimated to be through the OTT/digital channels. These estimated numbers are across the super-premium level. Currently, there are more than 10 Billion Impressions on local sports content scattered over YouTube, Facebook, and other  social media platforms. There can be see an increase in demand & engagement for local sports content with limited supply available. In India, sports as an industry is scattered and disorganized, SportVot has been strategically designed to create unique IPs and generate revenue from this fragmented sports economy.

    SportVot – Founders and Team

    SportVot Founder – Siddhant Agarwal (CEO), SportVot Co-founders – Shubhangi Gupta (CMO) and Yash Bhagwatkar (COO)

    SportVot Founders and CEO
    (L-R) Yash Bhagwatkar, Siddhant Agarwal, Shubhangi Gupta – SportVot Founders

    Siddhant Agarwal | Founder & CEO

    Siddhant has 8 years of experience building software and technology products. He has Worked with Oracle and Cashcare in the past. Built Thisgameweek, the first cross geography real money multi currency fantasy gaming platform, operational in India and Africa, partnered with Nazara games (largest mobile gaming platform in India) for publishing the game across geographies. Exited it in late 2018. Currently, at the helm of SportVot since January 2019.

    Yash Bhagwatkar | Co-Founder & COO

    Yash has 3 years of operational experience, with 2 years of corporate operations at Accenture. He has spearheaded the sports operational network of broadcasters, content creators, sports talent, and data collectors in Maharashtra, Kerala, Tamil Nadu and Delhi.

    Shubhangi Gupta | Co- Founder & CMO

    Digital marketing and Branding executive with around 4 years of experience. She has developed around 40+ brands including some marquee brands. She also had 2 other startups in the past. One named EthKnits, a handicraft online boutique, and Nite Owls, a small Digital Marketing agency specializing in startups.

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    SportVot Ideation – How it Started?

    Siddhant and Yash being a passionate sports lover, they used to work on cricket & football analytics together and also had their own YouTube show named The Free Hit Project. A couple of months into their show, they kept interacting with a couple of sports enthusiasts and saw the need of more sports coverage beyond the regular International Football and Cricket leagues. A lot of upcoming talent came to them to make their cricket performance reports to help them get better placements. That was the beginning of the idea of SportVot’s core product and vision of the company. To create a technology to cater to the grassroots sports.

    SportVot – Products/Services offered

    With the rise in penetration of 4g and affordable smartphones, high speed internet is available to everyone at a reasonably low price. SportVot has made streaming sports tournaments a one click process with use of the hardware that you all possess i.e. your smartphone, thus reducing the dependency on the use of external hardware and software. The SportVot ecosystem enables these tournament organizers and clubs to make their tournaments fully digital right from streaming, instant highlights, scoring to fixture management. This, in turn, makes these games and the athletes participating in them more marketable and discoverable to a wider audience.

    SportVot Streaming App

    The SportVot team wanted to keep the name Indian friendly.

    “We were just joking about the fact that how Indians say namak shamak, kal wal, etc. So we came up with SportVot, with the intention that we may not just limit ourselves to sports but other talent as well at some point in time.” Shubhangi added.

    SportVot Logo

    SportVot – Business Model and Revenue Model

    Currently, the primary sources of revenue of SportVot are – direct income from streaming services and advertisements/sponsorships. Pay per view has been tested at very low scale on a pilot basis. They basically get paid to acquire its own consumers.

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    SportVot – Startup Launch and Marketing Strategy

    The first 100 users of SportVot were via streaming DSO games and building a sports community on social media channels. The team made sure to put relevant content to build the community on Whatsapp, Instagram and Facebook. With the help of that, SportVot kept growing and its name became more evident in the sports community.

    Apart from community building, SportVot received incredible partnership opportunities with Barcelona Academy Delhi for live streaming their annual Asia Pacific Cup in January 2020. It also covered some esteemed games like Rajasthan Basketball League, Yuva Sena Kabaddi League, etc.

    The main marketing strategy of SportVot that helped the company a lot was building a sports community for all kinds of sports. It now has a good fan base on its digital platforms, who are loyal and keep approaching the platform for more content.

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    SportVot – Challenges Faced

    Figuring out the camera set up for live streaming at low cost was a challenge. Not every tournament organizer can afford  expensive set up and a lot of the team’s time went in research and development for the right set of tools required to make this process cheap and easy.

    SportVot – Growth and Current Status

    In just 12 months, SportVot has managed to build its presence in local areas of Maharashtra, Rajasthan, Kerala and Delhi by covering 5000+ games across 56 different sports, profiling 20,000+ athletes, and building a strong community of more than a million sports enthusiasts on its digital channels. This passionate sports community of tier 2, tier 3 and rural areas of India helps the team to get more brand sponsorships which in turn assist these unique sports talent, and even tournaments, to get more support and visibility.

    SportVot – Funding and Investors

    SportVot recently raised AUD 25,000 from StartupBootCamp in an accelerator programmer. Prior to this, SportVot received INR 25,00,000 as Friends and Family round.

    SportVot Funding Details is as follows –

    Date Stage Amount Investors Name
    September 2019 Friends & Family INR 21 Lakhs Ashay Pradeep Bandivadekar
    September 2019 Friends & Family INR 4 Lakhs Rakesh Murarka
    June 2021 Accelerator Programme AUD 25,000 (~ INR 14.2 Lakhs) StartupBootCamp

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    SportVot – Competitors

    SportVot has no direct Indian competitors in this domain yet. Some indirect competitors of SportVot are Overtime, Pitchvision, Dfocus.

    Tools used by SportVot

    Airtable, Gsuite, Slack are tools used by SportVot to run the startup.

    SportVot – Recognition and Achievements

    SportVot received recognition from local and political event organizers for streaming events at very low cost.

    SportVot – Future Plans

    SportVot wants to expand to more geographies in India and work on interesting features on the app to promote talent discovery. There are around 10m athletes and 100k tournaments worth streaming in India, SportVot wants to grow from 150 to 1000 tournaments in the next one year and unearth more hidden talent in the country.

    SportVot – FAQs

    What is SportVot?

    SportVot is a digital TV for local sports talent and emerging leagues in India. SportVot provides a platform for sport bodies to stream their games online, local sports talent to show their skills, make them more marketable and helps them get discovered by a network of scouts/coaches as well as connect the fans to their local heroes.

    Who founded SportVot?

    SportVot Founder – Siddhant Agarwal (CEO), SportVot Co-founders – Shubhangi Gupta (CMO) and Yash Bhagwatkar (COO)

    Who are the competitors of SportVot?

    SportVot has no direct Indian competitors in this domain yet. Some indirect competitors of SportVot are Overtime, Pitchvision, Dfocus.

    How does SportVot make money?

    Primary sources of revenue of SportVot are – direct income from streaming services and advertisements/sponsorships. Pay per view has been tested at very low scale on a pilot basis. They basically get paid to acquire its own consumers.

  • Alphabet – Making Interesting Pivots

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

    Alphabet, Inc. is a holding company, which engages in the business of acquisition and operation of different companies. It operates through the Google and Other Bets segments. The Google segment includes its main Internet products such as ads, Android, Chrome, hardware, Google Cloud, Google Maps, Google Play, Search, and YouTube.

    The Other Bets segment consists of businesses such as Access, Calico, CapitalG, GV, Verily, Waymo, and X. The company was founded by Lawrence E. Page and Sergey Mikhaylovich Brin on October 2, 2015 and is headquartered in Mountain View, CA.

    Alphabet – Company Highlights

    Startup Name Alphabet Inc.
    Headquarters Googleplex, Mountain View, California, U.S.
    Industry Conglomerate
    Founded October 2, 2015
    Founder Larry Page, Sergey Brin
    CEO Sundar Pichai
    Areas Served Worldwide
    Website www.abc.xyz

    Alphabet – About and How it Works ?
    Alphabet – Logo and its Meaning
    Alphabet – Founder and History
    Alphabet – Mission
    Alphabet – Team
    Alphabet – Subsidiaries
    Alphabet – Business Model
    Alphabet – Revenue and Growth
    Alphabet – Investments
    Alphabet – Acquisitions
    Alphabet – Competitors
    Alphabet – Challenges Faced
    Alphabet – Future Plans

    Alphabet – About and How it Works ?

    Alphabet Inc. is an American multinational conglomerate headquartered in Mountain View, California. It was created through a restructuring of Google on October 2, 2015, and became the parent company of Google and several former Google subsidiaries. The two co-founders of Google remained as controlling shareholders, board members, and employees at Alphabet. Alphabet is the world’s fourth-largest technology company by revenue and one of the world’s most valuable companies.

    The establishment of Alphabet Inc. was prompted by a desire to make the core Google business “cleaner and more accountable” while allowing greater autonomy to group companies that operate in businesses other than Internet services. Page and Brin announced their resignation from their executive posts in December 2019, with the CEO role to be filled by Sundar Pichai, also the CEO of Google. Page and Brin remain co-founders, employees, board members, and controlling shareholders of Alphabet Inc.

    Alphabet – Logo and its Meaning

    The Alphabet logo uses the language of visual symbols to explain the differences between the companies, Google and itself. In comparison with the Google logo, it looks more serious, like a grown-up in comparison with a teenager.

    Logo of Alphabet
    Logo of Alphabet

    Alphabet – Founder and History

    Founders of Alphabet
    Founders of Alphabet

    On August 10, 2015, Google Inc. announced plans to create a new public holding company, Alphabet Inc. Google CEO Larry Page and Sergey Brin made this announcement in a blog post on Google’s official blog. Alphabet would be created to restructure Google by moving subsidiaries from Google to Alphabet, narrowing Google’s scope.

    In his announcement, Page described the planned holding company as follows:

    Alphabet is mostly a collection of companies. The largest of which, of course, is Google. This newer Google is a bit slimmed down, with the companies that are pretty far afield of our main internet products contained in Alphabet instead. Fundamentally, we believe this allows us more management scale, as we can run things independently that aren’t very related.

    Page says the motivation behind the reorganization is to make Google “cleaner and more accountable and better”. He also said he wanted to improve “the transparency and oversight of what we’re doing”, and to allow greater control of unrelated companies.

    Alphabet still keeps Google’s stock price history and trades under its former ticker symbols. Its website domain is abc.xyz (xyz was introduced in 2014). When asked about the new name, CEO Larry Page said that it was chosen because the alphabet is the building block of language, one of the most important innovations. He also said that it is the core of how the firm indexes with Google Search.

    On December 3, 2019, Page and Brin jointly announced that they would step down from their respective roles, remaining as employees and still the majority vote on the board of directors. Sundar Pichai, the CEO of Google, is to assume the CEO role at Alphabet while retaining the same at Google.

    Alphabet – Mission

    Alphabet’s mission statement says, “Empowering great entrepreneurs and companies to flourish. Investing at the scale of the opportunities and resources we see. Improving the transparency and oversight of what we’re doing. Making Google even better through greater focus.“

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    Alphabet – Team

    CEO of Alphabet - Sundar Pichai
    CEO of Alphabet, Sundar Pichai
    • Larry Page and Sergey Brin – Founders
    • Sundar Pichai – CEO
    • Andrew Urman – Program Manager
    • Thomas Insel – Google Life Sciences Team
    • David Drummond – Senior Vice President of Corporate Development
    • Eric Schmidt – Executive Chairman
    • Barnaby James – Principal Software Engineer

    Alphabet – Subsidiaries

    Few of the main subsidiaries of Alphabet are Google, X, Sidewalks Lab, Waymo, Calico, Verily, Fitbit, Deepmind, Wing and Firebase.

    Alphabet – Business Model

    Alphabet, Inc. is a holding company for Google and several other firms formerly owned by Google. The corporation operates two reportable business segments:

    • Google – Consists of various Internet products, including Search, YouTube, Maps, Commerce, Ads, Android, Cloud, Apps, Chrome, and Google Play, as well as hardware products such as Chromebooks, Chromecast, and Nexus. This segment accounts for the vast majority of Alphabet’s revenues.
    • Other Bets – Consists of various operating segments that the company deems “not individually material” (do not meet certain quantitative thresholds). These include the companies Access/Google Fiber, Google Capital, Calico, Verily, Next, GV, and X, and other initiatives.

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    Alphabet – Revenue and Growth

    Alphabet has one primary revenue stream, online advertising from third parties. It is divided into two main categories:

    Performance Advertising – Creates relevant ads that users click, resulting in direct connection with advertisers. Most of the third parties pay Alphabet when a user engages in the ads.

    Brand Advertising – Increases users’ awareness of advertisers’ offerings through video, images, text, and interactive ads that play across different devices. Alphabet helps third parties display digital videos and other ad types to specific audience groups for their marketing campaigns.

    Alphabet revenue for the twelve months ending September 30, 2020 was $171.704B, a 10.74% increase year-over-year. Rest of the years’ trends are :

    Year Amount Percentage Change From Last Year
    2019 $161.857B +18.3%
    2018 $136.819B +23.42%
    2017 $110.855B +22.8%

    Alphabet – Investments

    Alphabet has made 11 investments. Their most recent investment was on Jul 15, 2020, when Cityblock Health raised $53.5M.

    Date Organization Name Round Amount
    Jul 15, 2020 Cityblock Health Series B $53.5M
    Jun 26, 2020 Oscar Health Venture Round $225M
    May 7, 2020 Lime Venture Round $170M
    May 7, 2020 Sidewalk Infrastructure Partners Series A $400M
    Mar 2, 2020 Waymo Venture Round $2.3B
    Aug 14, 2018 Oscar Health Corporate Round $375M
    Jul 9, 2018 Lime Series C $335M
    Jun 14, 2018 SpinLaunch Series A $40M
    Jan 24, 2018 XtalPi Series B $15M
    Nov 15, 2017 UnitedMasters Series A $70M

    Alphabet – Acquisitions

    An analysis of the company’s investments in 2017 suggested that it was the most active investor in that period, outdoing the capital arm of Intel and also its own best customer. Alphabet, Inc. acquired seven of its own capital-backed startups in the 2017 financial year, with Cisco second having acquired six of the company’s previous investments.

    Flatiron Health, a startup founded by two former Google employees and backed by Alphabet, Inc., announced that it was to be acquired by health conglomerate Hoffmann-La Roche for $1.8 billion. The company provides electronic medical records and analysis to identify improved treatments for oncology patients

    Alphabet – Competitors

    Alphabet, Inc.’s top competitors are Baidu, Microsoft, Apple, Amazon, Facebook, Oracle, SAP, IBM, Salesforce, Sony, HP, SAS, Box, Dell, Samsung, HTC, Huawei, LG Electronics, Philips, ASUS, Cisco, Lenovo, AWS, Toshiba, Motorola, VMware, Adobe and Infor.

    Alphabet – Challenges Faced

    Growing Regulatory Risks – Alphabet formally acknowledged the government’s antitrust probe earlier this year, but it isn’t just U.S. federal law enforcement officials taking a harder look at Alphabet’s business practices. In addition to FTC and DOJ investigations, a coalition of state attorneys general are participating in an antitrust probe of the company. In Europe, Alphabet has faced record fines in recent years for antitrust violations, and the European Commission, the EU’s antitrust regulatory body, recently opened an investigation into Google’s data collection practices, and may include data related to local search services, advertising, ad targeting, login services, web browsers, and others, according to Reuters.

    A recent Wall Street Journal investigation found that contrary to some of the company’s claims, it routinely intervenes in search results, even favouring the results generated by big businesses such as eBay over smaller ones. Any such activity is likely to draw the attention of regulators, as well.

    Shoring Up Growth, Profits – For the third quarter, Alphabet posted a mixed earnings report that revealed better-than-expected revenue, but a hit to its earnings — earnings per share came in at $10.12 versus estimates of $12.42. One reason for that miss, as noted by RealMoney’s tech columnist Eric Jhonsa, was accelerating operating expense growth, along with spending on R&D, sales and marketing and other expenses. It also recorded a net loss in its equity investments last quarter, posting a loss of $1.53B loss versus a $1.38B gain in the third quarter of last year.

    Alphabet’s reputation for secrecy often works against it when its updates to investors are mixed. After its first quarter earnings call, for example, Alphabet’s stock hit the skids for weeks — partly owing to management’s lack of clarity in explaining its missed quarterly revenue and how it might have been affected by changes to its ad products. Meanwhile, investors have expressed frustrations that Alphabet doesn’t break out YouTube revenue, although it’s been long presumed to be a top driver of ad revenue growth for Google.

    Sceptical Employees – Alphabet is still one of the most sought-after employers in Silicon Valley. But a vocal contingent of its workers disagree with the company’s policies and direction. For instance,  Pichai navigated Google through a worker revolt last year over Project Maven, a contract with the military to analyse drone footage. (Google did not renew the contract.)

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    Alphabet – Future Plans

    Alphabet Inc., the parent company for the search engine Google, will look to become just the third US-listed company to enter the $1 trillion market cap club in 2020. The stock will need to rise by about 8% between now and the end of 2020 to join this exclusive club. It isn’t going to be an easy task for the equity, especially if earnings growth slows as analysts project.

    The company has already made some interesting pivots heading into 2020. Most notably is at the very top, with Sundar Pichai the CEO of Google also becoming the CEO of Alphabet, taking over the position for co-founder Larry Page.

    Google CEO Sundar Pichai says the company has offered a competitive platform that has lowered prices advertisers, giving consumers more choice, according to prepared remarks the executive made ahead of Wednesday’s hearing before the House Antitrust Subcommittee.

    “A competitive digital ad marketplace gives publishers and advertisers, and therefore consumers, an enormous amount of choice,” Pichai stated. “For example, competition in ads — from Twitter, Instagram, Comcast and others — has helped lower online advertising costs by 40% over the last 10 years, with these saving passed down to consumers through lower prices.”

  • Dell: Returning Back To The Pavilion

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

    Dell previously known as “PC’s Limited” (1984-1988) is a multinational corporation that designs, creates, and produces personal computers and computer-related products. The company is a major PC manufacturer in the world.

    The company began marketing its goods through ads and mail-order catalogues, based on the thesis of designing and selling custom-built PCs directly to consumers. Dell was able to sell high-quality PCs at affordable prices by avoiding the costs associated with conventional retail markets. The business began in a dorm room and has grown to employ over 145,000 people in the United States and around the world.

    Dell – Company Highlights

    Startup Name Dell Inc.
    Headquarters Round Rock, Texas, U.S.
    Industries Computer Hardware, Computer Software
    Founder Michael Dell
    Founded February 1, 1984
    CEO Michael Dell
    Areas served Worldwide
    Website www.dell.com

    Dell – About and How it works?
    Dell – Logo and Meaning
    Dell – Founder and History
    Dell – Mission
    Dell – Business Model
    Dell – Revenue
    Dell – Funding and Investors
    Dell – Investments
    Dell – Competitors
    Dell – Challenges faced
    Dell – Growth
    Dell – Achievements
    Dell – Future Plans

    Dell – About and How it works?

    Dell is a global information technology corporation based in the United States that designs, sells, restores, and maintains computers and related products and services. The business, named after its founder, Michael Dell, is one of the world’s largest technology companies, employing over 165,000 people in the United States and around the world. It is one of the world’s largest manufacturers of computer hardware.

    Dell sells computers, servers, data storage devices, network switches, applications, HDTVs, cameras, printers, and electronics, among other things. The company is well-known for its supply chain management and electronic commerce technologies, especially for its direct-sales model and “build-to-order” approach to manufacturing and distributing individual PCs customized to customer requirements.

    Dell – Logo and Meaning

    Dell's Logo
    Dell’s Logo

    Apart from the slanted ‘E,’ the Dell logo is a simple expression. Michael Dell, the company’s founder, began his company with the aim of “turning the world on its head.” When design firm Siegel+Gale created the company logo in 1984, they chose to reflect this by slanting the letter ‘E.’

    Dell – Founder and History

    Michael Dell is the founder, chairman and CEO of Dell.

    Michael Dell, Founder of Dell
    Michael Dell, Founder of Dell

    PC’s Limited was founded in 1984 by an American, Michael Dell, who was a student at the University of Texas in Austin at the time. Dell began his company in a dorm space, offering personalized upgrades for PCs.

    Dell dropped out of school to work full-time on his fledgling company after his family gave him $1,000 in growth capital and he started developing PCs. The Turbo PC, the first computer designed entirely by Dell, was released in 1985 and sold for $795. PC’s Limited marketed its systems for sale directly to customers in national computer magazines, and each unit was custom assembled according to a menu of choices. In its first year of service, the company made more than $73 million in revenue.

    Michael Dell hired Lee Walker(a 51-year-old venture capitalist) as president and COO in 1986 as Dell’s mentor and to put Dell’s proposals for the company’s growth into action. When the company went public in 1988, Walker also played a key role in hiring members of the board of directors. In 1987, the company changed its name from PC’s Limited to Dell Computer Corporation and began spreading internationally. There was a significant rise in revenue as well as capital.

    The organization became known for its employees in the best way as profits increased. More and more businesses decided to partner with Dell, and there is no denying that Dell has established itself as one of the best computer manufacturers.

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    Dell – Mission

    The mission statement of Dell says, “Dell’s mission is to be the most successful computer company in the world at delivering the best customer experience in markets we serve. In doing so, Dell will meet customer expectations of Highest quality and Leading technology“.

    Dell – Business Model

    The business has managed to have the largest customer base with a revenue-generating business model thanks to the incredible computer services and goods that are delivered to the people in the best possible way. Customers who visit the business have a variety of requirements. The business model is more concerned with meeting the expectations and requirements of consumers. The company develops a variety of goods based on the needs of its customers.

    Dell’s Business Model is Divided into Several Sections:

    1. Large-scale enterprise products and services
    2. Public-facing products and services
    3. Small and medium-sized business products and services
    4. Consumer Products and Services

    Dell – Revenue

    Dell Technologies Inc. posted a -2.73 percent drop in revenue in the second quarter of 2020, to $22,733.00 M. Dell Technologies Inc’s revenue decreased in the second quarter, compared to the company’s annual revenue growth of 3.61 percent. Within the Computer Hardware sector, three other companies have achieved higher revenue growth in the second quarter. In the second quarter, Dell Technologies Inc’s revenue fell -2.73 percent, placing it at number 1617 overall.

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    Dell – Funding and Investors

    Dell is traded on the New York Stock Exchange under the ticker NYSE:DELL. Their stock debuted at $46.00 in its initial public offering (IPO) on December 28, 2018. Dell Innovators Credit Fund is a single venture capital fund that Dell has raised. On June 7, 2012, this fund was revealed and a total of $100 million was raised.

    Dell – Investments

    Dell has made 29 investments yet.

    Date Stage Amount Organization Name
    Oct 4, 2017 Series B $30M we.trade
    Apr 7, 2009 Series B $47.5M Lightbend
    Feb 29, 2008 Series C $18.8M Cambridge Quantum Computing
    Nov 15, 2002 Series E $35M Digital Asset
    Mar 11, 2002 Series H $20M Cambridge Quantum Computing
    Jul 23, 2001 Venture Round $120K Finclude
    Jul 23, 2001 Series C CA$50K Syngli
    May 25, 2000 Venture Round CA$50K Syngli
    May 22, 2000 Venture Round $140K Borza
    May 16, 2000 Venture Round – Hafnium Labs

    Dell – Competitors

    Dell Technologies top competitors include Hewlett-Packard (HP generates 81% of Dell’s revenue), Lenovo (Lenovo has 79,000 fewer employees than Dell), IBM(Compared to Dell, IBM has 241,800 more employees), Apple, Asus and Acer.

    Dell – Challenges faced

    Dell revealed in 2008 that it would enter the retail industry while maintaining its “direct sale model” and “make-to-order” strategy. Dell was able to function on a low inventory level as a result of this strategy, resulting in a substantial cost savings. Direct selling has also cut out wholesalers and suppliers, lowering prices even further.

    Among the many difficulties that Dell faces, one stands out above the rest: forecasting. Forecasting is an important component of supply chain management. Dell has enough stocks to satisfy consumer demand thanks to reliable forecasts. Forecasting like this is conducted ahead of time to ensure a smooth transition between supply and demand. Even a minor forecasting error will result in lost revenue, surplus inventory, and unused inventory.

    Dell’s greatest challenge right now is its willingness to innovate. Despite the fact that the industry has invested billions of dollars in research and development, the majority of technological progress is currently powered by developers rather than businesses.

    Dell also faces significant challenges in maintaining its market dominance, with the unstoppable growth of cloud computing, its complex portfolio of overlapping products, and decreased investment on on-premises infrastructure placing it under pressure to sustain market share gains.

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    Dell – Growth

    From 1997 to 2004, Dell enjoyed steady growth and it gained market share from competitors even during industry slumps. During the same period, rival PC vendors such as Compaq, Gateway, IBM, Packard Bell, and AST Research struggled and eventually left the market or were bought out. Dell surpassed Compaq to become the largest PC manufacturer in 1999. Operating expenses accounted for just 10% of Dell’s $35 billion in sales in 2002, compared to 21% at Hewlett-Packard, 25% at Gateway, and 46% at Cisco. As Compaq and Hewlett-Packard (the 4th-place PC maker) merged in 2002, the newly formed HP took the lead but failed, and Dell quickly reclaimed the lead. Dell was the company that developed the most in the early 2000s.

    Between the mid-to-late 1990s and 2001, just before Windows XP was launched, Dell earned and retained the highest ratings in PC reliability and customer service/technical support year after year.

    Dell – Achievements

    • For the eighth consecutive year, Ethisphere named Dell as one of the world’s Most Ethical Companies.
    • On the Human Rights Campaign Foundation’s annual scorecard measuring LGBTQ workplace inclusion, Dell Technologies receives a perfect score.
    • In 2019, Fast Company named consumer electronics to its list of the world’s most innovative companies.
    • The Compass Award for Leadership in Accelerating the Circular Economy with Rare-Earth Minerals was given to the winner of the Responsible Business Alliance’s Compass Award for leadership in accelerating the circular economy with rare-earth minerals.
    • Dell was named to Forbes’ Best Employers for Diversity 2019 List after a survey of 50,000 Americans employed in businesses with more than 1,000 employees.
    • Dell Wins High-Tech Supply Chainnovator 2019 by Building a Legacy of Good to Tackle Circular Economy, May 2019.

    Dell – Future Plans

    The firm is stepping out of the spotlight or re-imagining a modern service-based industry in order to succeed in the future. Michael Dell, the CEO of his namesake company, which he created as a college student 29 years ago, announced in September that he would be taking it private. The intention is to return to the pavilion.

    “In taking Dell private we plan to go back to our roots, focusing on the entrepreneurial spirit that made Dell one of the fastest growing and most successful companies in history,” Dell said.

    This move is noteworthy because it highlights Dell’s ability to recognize changes that is the shrinking PC market, accept them, and find a solution to remain competitive. Instead of chasing a dying dream, Dell wants to focus his company on areas of growth, including cloud computing, Big Data, security software, and mobile.

  • Cognizant – Transforming Businesses Digitally

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

    Cognizant Technology Solutions, founded on January 26, 1994 by Kumar Mahadeva & Francisco D’Souza, is an American multinational IT services provider. It also provides consulting and business process outsourcing (BPO) services. In the course of dot com boom, it flourished by receiving the application maintenance work that the big corporations were reluctant to carry out. Gradually, it moved into application development, complex systems integration and consulting work.

    Cognizant grew rapidly during the 2000s and became a Fortune 500 company in 2011. It is a member of the NASDAQ-100, the S&P 500, the Forbes Global 2000 and the Fortune 500 and is positioned among the top performing and fastest growing companies in the world.

    Cognizant – Company Highlights

    Startup Name Cognizant Technology Solutions Corporation
    Headquarters Teaneck, New Jersey, U.S
    Industries IT services, IT consulting
    Founders Kumar Mahadeva, Francisco D’Souza
    Founded 26 January 1994
    CEO Brian Humphries
    Areas served Worldwide
    Website www.cognizant.com

    Cognizant – About and How it works?
    Cognizant – Logo and it’s meaning
    Cognizant – Founders and History
    Cognizant – Mission
    Cognizant – Business Model
    Cognizant – Revenue
    Cognizant – Funding and Investors
    Cognizant – Investments
    Cognizant – Competitors
    Cognizant – Controversies
    Cognizant – Growth
    Cognizant – Achievements
    Cognizant – Future Plans

    Cognizant – About and How it works?

    Cognizant Technology Solutions Corporation, incorporated on April 6, 1988, is a professional services company. The Company operates through four segments: Financial Services, Healthcare, Manufacturing/Retail/Logistics, and Other. The Company’s services include consulting and technology services and outsourcing services. The Company develops, licenses, implements and supports third-party software products for the healthcare industry, including solutions for health insurance plans, third party benefit administrators (TPAs), and healthcare providers. It provides IT Infrastructure management outsourcing services that include data center, infrastructure security, network and convergence, end user computing services and mobility.

    Cognizant – Logo and it’s meaning

    Cognizant’s old logo consists of two C’s – one vertical and one horizontal. The vertical C in the logo symbolizes the equality of its employees while the horizontal C signifies the corporation’s commitment to its customers.

    Cognizant's Logo Evolution

    A few months back, Cognizant launched its new logo. The core thought driving this transformed identity was the brand’s work and motto: digitally transformative, thereby, ensuring that their clients remain ahead of, or at par with their competition.

    Cognizant – Founders and History

    Kumar Mahadeva and Francisco D’Souza are founders of Cognizant.

    Co-Founder of Cognizant - Francisco D'Souza
    Co-Founder of Cognizant – Francisco D’Souza

    Cognizant began as Dun & Bradstreet Satyam Software (DBSS),established as Dun & Bradstreet’s in-house technology unit focused on implementing large-scale IT projects for Dun & Bradstreet businesses. In 1996, the company started pursuing customers beyond Dun & Bradstreet.

    In 1996, Dun & Bradstreet splits off few of it’s auxiliaries including Eriscon, IMS International, Nielsen Media Research, Pilot Software, Strategic Technologies and DBSS, to form a new company called Cognizant Corporation, headquartered in New Jersey, U.S. Three months later, in 1997, DBSS renamed itself to Cognizant Technology Solutions.

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    Cognizant – Mission

    Cognizant’s single-minded mission is to dedicate their business process and technology innovation know-how, deep industry expertise and worldwide resources to working together with clients to make their businesses stronger. Their aim is to be the number one solutions provider in each sector they provide service in, through integrity, competence, innovation and execution. Commitment to their customers, employees, licensees and shareholders is the foundation of their mission. They commit to being, “Open, Honest and Direct.”

    Cognizant – Business Model

    Like many other IT services firms, Cognizant follows a global delivery model based on offshore software R&D and offshore outsourcing. The company has a number of offshore development centers outside the United States and near-shore centers in the U.S., Europe and South America. In its early years, Cognizant gained business from a number of American and European companies with the help of the Dun & Bradstreet brand. The company’s senior executives foresaw the firm as a provider of high-end customer services at lower prices than it’s competitors Accenture, BearingPoint, Capgemini, E&Y, Deloitte and IBM.

    Cognizant – Revenue

    • Cognizant Technology Solutions revenue for the quarter ending September 30, 2020 was $4.243B, a 0.12% decline year-over-year.
    • Cognizant Technology Solutions revenue for the twelve months ending September 30, 2020 was $16.752B, a 0.75% increase year-over-year.

    Year Annual Revenue Percentage change
    2018 $16.783B +4.08%
    2017 $16.125B, +8.88%
    2016 $14.81B 9.81%

    Cognizant – Funding and Investors

    Cognizant is registered under the ticker  NASDAQ:CTSH . Their stock opened with $10.00 in its Jun 19, 1998 IPO.

    Cognizant has raised a total of $241K in funding over 1 round. This was a Post-IPO Equity round raised on Nov 18, 2016 by Summit Financial Wealth Advisors.

    Cognizant – Investments

    Cognizant has made 5 investments. Their most recent investment was on Nov 20, 2018, when Civic Hall raised $2M.

    Date Stage Amount Organization Name
    Nov 20, 2018 Grant $2M Civic Hall
    Sep 12, 2017 Series A $3.5M Cybrary
    Jan 17, 2017 Series B $22M Measure UAS
    Apr 28, 2016 Funding Round – ReD Associates
    Jul 7, 2000 Series A $10M Questra

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    Cognizant – Competitors

    One of the top most competitors of Cognizant is Infosys. Infosys Limited, is an Indian multinational corporation that provides business consulting, information technology and outsourcing services. Headquartered in Bangalore, India. Other competitors include Accenture(US), Insight, CGI and CIBER.

    Cognizant – Controversies

    • Bribery : Larsen & Toubro Ltd (L&T) paid million in bribes to Indian government officials on behalf of Cognizant Technology Solutions Corp. to secure permits, ranging from environmental clearance to power. L&T has made unlawful installments and Cognizant repaid the amount by masking it as pay for cost overruns.
    • Companies Act violations : Cognizant Technology Solutions Corporation has agreed to pay $25 million to settle charges that it violated the Foreign Corrupt Practices Act (FCPA), and two of the company’s former executives were charged for their roles in facilitating the payment of millions of dollars in a bribe to an Indian government official.
    • Layoffs : 20 senior executives, above the Director’s Level were dismissed because they were not able to catch up with the latest technologies. The number of the executives that were dismissed is unusually high and questions the ability of the company to catch up with the latest technologies.
    • Tax evasion : The Income Tax department has frozen Cognizant Technology Solutions Corp’s bank accounts and deposits in Chennai and Mumbai for allegedly evading a dividend distribution tax (DDT).

    Cognizant – Growth

    Cognizant is praised for it’s amazing pace of growth. Till December 2018, Cognizant has added $14.66 billion in revenue, or the combined numbers of what Wipro and Tech Mahindra Ltd could achieve. All the credit goes to the company’s super-aggressive sales culture as the firm always had more people managing it’s large accounts. Cognizant’s senior management comprises more people from outside the firm, unlike the insular approach followed by many other competitors.

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    Cognizant – Achievements

    • Cognizant recognized as a Top Provider in the Outsourcing and Consulting categories besides being named as a Customer Satisfaction Leader by CGT.
    • Ovum Decision Matrix recognized Cognizant as “Market Leader” in Outsourcing Testing Service Providers.
    • Consumer Goods Technology (CGT) awarded Readers’ Choice Award for the ninth consecutive year.
    • Forrester Research, Inc. named Cognizant a Leader in Business Intelligence Services.
    • Cognizant placed in IDC MarketScape as a Leader in IT and BPO Services.

    Cognizant – Future Plans

    A spokesperson for Cognizant said that it will continue to invest in the business, while decreasing certain costs in the wake of the Covid-19 pandemic wrecking havoc in the global market place.

    Brian Humphries, chief executive, Cognizant, said, “Today, we are announcing a simplification of our operating model and a cost reduction program, which will allow us to fund investments in growth. Looking ahead, we see a clear path to unlock the organizations full growth potential, win in our key digital battlegrounds, and return Cognizant to its historical position of being the bellwether of the IT services industry.”

    IT firm will go through a net reduction of 5,000-7,000 employees, either through attrition or role elimination. This accounts for around 2 per cent of its total employee base. Expecting a challenging demand environment after 2020, the company plans to invest in developing digital skills while correcting the employee pyramid, by on-boarding close to 20,000 entry-level hires.