StartupTalky

Tag: 🔍Insights

  • Twitter Business Model | How Twitter makes money?

    With 206 million daily active users worldwide as of the second quarter of 2021, Twitter, symbolised by the renowned bluebird, grew from the ashes of a failed company named Odeo to become the #1 platform for discovery and generally regarded as the Internet’s SMS.

    It originated as a text messaging network that limited tweets to 140 characters (now changed to 280 characters). One of Twitter’s co-founders, Jack Dorsey, sent the first tweet on March 21, 2006, with the message “just setting up my twttr.” Twitter has evolved to be one of the most popular social networking platforms in the last decade, with over 200 million monthly active users.

    About Twitter
    Twitter Business Model
    What distinguishes Twitter from other social media platforms?
    How does Twitter make money?
    Conclusion
    FAQs

    How Twitter makes money? | Twitter Business Model

    About Twitter

    Twitter is a social networking and news website where users exchange brief messages known as tweets. Biz Stone, Jack Dorsey, Evan Williams, and Noah Glass launched it in 2006 after another firm, Odeo, was stung by the introduction of Apple’s iTunes. Twitter’s headquarters are located in San Francisco, California.

    You may send tweets to everyone who follows you on Twitter, hoping that someone will find your remarks valuable and entertaining. Unregistered users can only read tweets, but registered users may send, write like and receive tweets.

    Microblogging is a term that might be used to describe Twitter and tweeting. Despite being 15 years old and having over 300 million monthly active users, the network is still in its infancy in terms of revenues. And, because the platform is free to use, it’s not immediately obvious how Twitter makes money.

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    Twitter Business Model

    Twitter makes money from its users’ attention in two ways: advertising and data licencing. Advertising generated 87 per cent of company income at over $1.05 billion in 2020, up 87 per cent. The remaining portion is data licencing, which increased by 9% year over year to over $137 million, mainly due to corporate clients using data analysis.

    Although marketers pay to depend on the number of clicks or retweets, a pre-determined advertising budget is specified at the start of a campaign. Advertisers may also utilise streaming video advertisements on the site to target a specific demographic. Content producers may use features like live streaming and video on demand to expand their worldwide reach and user engagement.

    Twitter makes money from data licencing in two ways:

    It provides data products and licences allowing Twitter’s data partners to search, access, and analyse historical and real-time data derived from public tweets and their content and it also provides mobile advertising exchange services through the MoPub exchange.

    What distinguishes Twitter from other social media platforms?

    Keeping things clean and clear is the way to go, whether the goal is to build a personal brand, advertise a product/service, or do anything else that attracts public notice. What could be better than a platform that allows you to communicate with the rest of the world in just 280 characters?

    Twitter promises to take all reasonable steps to prevent authorised parties from misusing data. It follows the Digital Advertising Alliance Self-Regulatory Principles for Online Behavioral Advertising. Twitter implemented labels in November 2020 to alert users about the possibility of error in the information provided in a tweet. This community users includes people from many areas of life. Twitter allows anybody to immediately communicate their thoughts and opinions with the rest of the world.

    Only when the user has given their consent is personal data shared with digital marketers. Twitter’s privacy policy lays out all the options and urges users to read it to see how their data is used.

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    How does Twitter make money?

    Twitter uses these sources to make money.

    Advertisements for Promotions

    Advertisements provide for the majority of Twitter’s revenue, and users can view various advertising on the network.

    Advertisers who want to reach a larger audience or increase interaction from their existing followers can purchase Promoted Tweets, much like average Tweets that users can engage with. Using its proprietary algorithms, Twitter algorithms aim to display sponsored tweets on user timelines that may spark their interest in the product or service. Promoted tweets allow companies to increase their visibility.

    Promoted Accounts is a way of gaining followers by promoting one’s account to related individuals. Users can get recommendations for “Who to follow” on Twitter which is determined by user choices, demographics, geography, and overall platform activity. It may assist a new brand in promoting itself and an established brand in boosting a new campaign and making it viral. Advertisers may utilise this to build a community of Twitter users interested in their products or services.

    Promoted Trends Hashtags give you a sense of what’s hot right now. Promoted Trends are a 24-hour high-impact takeover of Twitter’s Trends list, according to Twitter.

    They appear in the first or second slots in the “Trends for you” section, in a user’s timeline and the “Explore” page, and are used to launch something new or relate to present conditions. Businesses can subscribe to Twitter for a fee.

    Businesses may extract valuable insights from this data using various complex analytical tools at their disposal, allowing them to better respond to customer demands.

    Data Licensing

    Partners can use Twitter’s data licencing offering to access, search, and analyse real-time Twitter data made up of Public Tweets. Twitter distributes about 500 million tweets with data partners every day, but only with a few firms.

    Exchange MoPub

    Twitter’s MoPub Exchange is a mobile advertising exchange that connects advertisers to sell ad inventory with buyers eager to acquire it. Twitter is paid a fee for each transaction that takes place on the exchange.

    Conclusion

    Twitter’s business strategy has stayed constant throughout time, and the company is still aiming to become profitable but has failed to do so.

    Despite all of its grandeur, excitement, and effect, its stock performance has been terrible, and many have dubbed its business model “broken.” Twitter has experienced several losses over the years, and the beatings will continue until the business model is adjusted or changed.

    It’s a harsh reality that monetisation has been a challenge for Twitter, and rumours abound that corporations like Disney and Salesforce may be interested in acquiring the company.

    LinkedIn Business Model | How Does LinkedIn Make Money
    LinkedIn is globally used professional networking platform. Lets get an insight of the business model of LinkedIn and how linkedIn makes money?
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    FAQs

    Who created Twitter?

    Twitter was created by Jack Dorsey, Noah Glass, Biz Stone, and Evan Williams in 2006.

    How does Twitter make money?

    Twitter makes money basically from two main sources which are:

    • Advertisement and Promotions
    • Data Licensing

    What are microblogging platforms?

    Microblogging platforms are platforms for sharing text, image, or video based blog in which content is typically smaller in both actual and aggregated file size. Some of the top microblogging platforms are:

    • Twitter
    • Instagram
    • Tumblr
    • Koo

  • The Past, Present and Future of Women Entrepreneurship

    From fighting for equal rights to building individual opportunities, the world for women has been burgeoning day by day. Initially, in some countries, women are determined to stay indoors, looking after their children and running errands. Where their ideas/talents are tantamount to nothing and considered only for domestic responsibilities. But, some things weren’t the same, women took the place to change certain lifestyles over the past few decades.

    For instance, those women, who were locked up inside their home, cooking and taking care of their children, later came out as Models, teachers, doctors, CEOs, presidents, content writers, actresses and even implemented their ideas in starting up their own business.

    In this coming of age, many young women are looking forward to creating their own career path. One such career- Women Entrepreneurship, that impacted greater differences in the sectors of employment these days.

    Past of Women Entrepreneurship
    Present of Women entrepreneurship
    Future of Women entrepreneurship
    Things that will help Promote Women Entrepreneurship in the World
    FAQ

    Past of Women Entrepreneurship

    If we take World War II as an example in the development of women entrepreneurship, then I would say that there wasn’t any improvement. As women are there to treat soldiers who are wounded in the war.

    When world war II ended, the concept of women-centric aroused in the society, as many were a part of many businesses such as sewing, nursing, teaching and so on.

    Speaking of which, the term ‘feminism’ flourished in many countries, at that time women were fighting for their right to vote, equal wages and opportunities. Later periods emerged in many sectors, for instance, Back in 1739, it is cited that Eliza Lucas was the first female entrepreneur to take control of her family business in the US.

    Besides, Kalpana Saroj is the first woman entrepreneur of India and the CEO of Kamani Tubes, which is worth 112 million dollars.

    Kalpana Saroj
    Kalpana Saroj

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    Present of Women entrepreneurship

    At the beginning of the 21st century, women entrepreneurship became an upsurge thing, as many young ladies came forward and cast their talent in various ways and reported an increase in women-owned business enterprises that are playing an essential role in developing the Indian economy.

    Even though they suffer a lot in the present society in regards to discrimination, pay & wages, gender inequality and so many. Not only the outer surface of the society, but also they face socio-cultural barriers.

    One such example, Oprah Gail Winfrey, who is famously known as The Oprah Winfrey Show Host, media representative and greatest Black philanthropist in U.S history.

    Oprah Gail Winfrey
    Oprah Winfrey

    As you know, she was once the richest African American of the 20th century. And ranked as the most influential woman in the world since 2007. Speaking of the present, Women entrepreneurship is gaining importance in India in the wake of economic liberalization and globalization.

    In the world of development, the Government of India implemented numerous schemes to encourage as many as young women in the field of entrepreneurship by introducing MSME Scheme, Annapurna Scheme, Dena Shakti Scheme, TREAD (Trade-Related Entrepreneurship Assistance and Development) Scheme, NSDM, DICs and many other women entrepreneurship schemes.

    Women are the largest untapped reservoir of talent in the world- Hillary Clinton.

    Future of Women entrepreneurship

    Speaking of gender equality in entrepreneurship has played a vital role in creating opportunities, innovation, and growth.

    Starting from Vandana Luthra, to Falguni Nayar, the founder of Nykaa, the women’s contribution in the entrepreneurship field is exceptional. However, over time, women are coming forward to entrepreneurship training, with their innovative minds and ideas, the future of women’s entrepreneurship is in good hands.

    Moreover, Indian Military services’ has opened hands to welcome young women is another start for a great future. In addition to that, Prime Minister Narendra Modi’s Employment Generation Programme and other schemes have pitched in to support large to small enterprises.

    On the other hand, over 30% of the population are employed women, and 3% are self-employed. Having that said, the future of entrepreneurship in women’s hands not only creates opportunities for themselves but others too. Women are the epitome of love, passion, duty, and beauty so that their positive energy could be used in managing resources efficiently.

    Subsequently, the process of Women’s entrepreneurship is a natural one with the utter encouragement of women entrepreneurs on one side, the women empowerment is all set.

    Furthermore, women-owned businesses have rapidly increased in this pandemic, especially on social media. Plus, the requisite skill, knowledge, and adaptability in business are the main reasons for women to emerge into business ventures. Consequently, the role of a woman entrepreneur is a person who accepts challenging roles to meet her personal needs and become economically independent.

    Things that will help Promote Women Entrepreneurship in the World

    Meanwhile, the participation rate of younger women in the entrepreneurship field is higher than that of men. Yet, the women’s entrepreneurial role is limited and inadequate. The small-scale industries are the worst hit, with only 10% owned by women.

    So following this, three effective and immediate measures are suggested by experts:

    Promotion of women entrepreneurs

    Promotion of women entrepreneurs in micro-enterprises: with additional support from proper government and society, these upcoming women can cultivate sustainable, organized, and growth-oriented enterprises to a great extent.

    Institutional and Policy-based support

    There are still several government policies and regulations on businesses and industries out there. Nevertheless, certain modifications have to be made to ease the administrative hurdles for women entrepreneurs.

    Special Incentives

    Special incentives, tax rebates, duty cuts can be provided with women as supervisors. Women with great minds not only make the best out of the best but also lead the path for the next generation.  So sectors with the prerequisite of entrepreneurial talent as well as exceptional communication skills can right away approach these incredible women.

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    Conclusion

    A strong desire to do something positive is an inbuilt quality of any entrepreneurial woman, plus, the capability to contribute values in both family and social life is what makes them stand out from others.

    Unlike men, who are capable of committing to social life, women have a self-role as well as a personal role like mother, wife, daughter. Entrepreneurial women have the impulse to focus on improving the living standards for women on education and personal development as well.

    On the whole, women entrepreneurs account for and will account for improved economic growth and stability within a country. They not only look for progression for themselves but also set inspirations for other women to start a business. Eventually, this vision will also help in reducing the gender gap in the workspace and overall a better place to live.

    FAQ

    Who is the most famous female entrepreneur?

    Wang Laichun, Oprah Winfrey, Shery Sandberg, Sara Blakely, Cher Wang, Folorunsho Alakija, Susan Wojcicki, and Indra Nooyi are some of the  most famous female entrepreneurs.

    Why India needs more Women Entrepreneurs?

    Economic Growth, Narrowing Gender Gap, Company Culture & Safety at Workplace, Funding/Investment to Women-led Startups and Social Change.

    What are the schemes provided by Government for women entrepreneurship?

    Government initiatives to boost women entrepreneurship are Mudra Yojana Scheme, Annapurna Scheme, Dena Shakti Scheme, and TREAD (Trade-Related Entrepreneurship Assistance and Development) Scheme.

  • How BharatPe Won a Rare Banking Licence In India?

    Bharatpe was launched back in March 2018 and since then it has created a buzz all over the country. The company caters to small store owners like the Kirana store owners and other small merchants. Its primary products and services are all finance-related because it offers QR codes for making UPI payments, Bharat Swipe for card acceptance, and other small business finances.

    Bharatpe came out when there was tight competition among those who were already doing well in the market like Paytm, Phonepe, and other such companies. It was quite surprising that within two years, Bharatpe grew so much and is now looking forward to getting its banking license in India.

    This is quite unusual because it is not something that happens with every business which has just started in the financial market. For a company like Bharatpe, this is a great achievement.

    About Bharatpe
    Bharatpe – Founders & Team
    Bharatpe’s Bold Move for getting Banking License
    How Bharatpe Earns Revenue?
    Conclusion
    FAQs

    Founder of BhataPe-Ashneer Grover on license for India’s 1st digital small finance bank

    About Bharatpe

    Bharatpe Logo
    Bharatpe Logo

    Bharatpe is not a government-owned company but is a private one. The owner of Bharatpe is Ashneer Grover and has its head office based in Delhi. This free application can be used by anyone to make payments by scanning QR codes or people can even make card payments through ‘Swipe’.

    Merchants can sign up for the application free of cost and can start accepting payments from their customers instantly. The transactions that are made between the merchants/shop owners/ Kirana store owners/ shopkeepers are done directly through the bank accounts of both parties.

    Bharatpe application can be used to scan all types of QR codes whether it is a Paytm code, Phonepe or Gpay, or any other UPI app. Additionally, for every transaction you make using Bharatpe, there will be no amount deducted as ‘transaction charges’ which is so much of a standout feature of the app.

    Bharatpe – Founders & Team

    Bharatpe founders
    Bharatpe founders
    • Ashneer Grover (Chief Executive Officer, Co-Founder)
    • Shashvat Nakrani (Co-Founder)
    • Bhavik Koladia (Group Head – Product & Technology)
    • Suhail Sameer (Group President)

    Bharatpe’s Bold Move for getting Banking License

    Bharatpe will be joining the $1 billion unicorn club valuation within the next few months or a year and along with it, they are going to be the half-owner of a bank in India. Jaspal Bindra, who was a former Standard Chartered Bank Asia Pacific CEO will be the owner of the other half of the bank.

    Now, coming to the bold move that Bharatpe has made is that they will be setting up a small finance bank in approval with the Reserve Bank of India. However, Bharatpe will not be the only one to do so because Centrum Financial Services will also be a part of the new ‘small finance bank’.

    Bharatpe is about to take over the crisis-ridden banks Punjab and Maharashtra Cooperative Bank and soon after that, they will be setting up its small finance bank. Also, thanks to RBI for granting a license to Bharatpe for taking such an initiative to keep the services of these banks running.

    RBI has granted the banking license to Bharatpe for the first time after six years. Bharatpe had announced that a former head of SBI, Rajnish Kumar will be joining as a chairman of the board and will be acting as a mentor as well for setting up SFB.

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    How Bharatpe Earns Revenue?

    Bharatpe is now India’s leading fintech company which is dealing with UPI payments primarily. But, that is now how the company generates its income. In an interview with India TV, the CEO and the co-founder of the company, Ashneer Grover said that the company is into lending businesses as well.

    The company offers a payment system to the merchants for free so that they can become an integral part of their business. But, the company earns its revenues by conducting lending business. Bharatpe also offers loans to the merchants within 5 minutes as said by the CEO & Co-founder, Ashneer Grover.

    Bharatpe offering loans is also one of the features that are new to the market along with merchant-to-merchant lending. Ashneer Grover, in an interview with India TV, said that all documentation of taking a loan can be done in the smartphone itself and within five minutes the money would be transferred to the merchant’s bank account.

    Conclusion

    Bharatpe’s business has been expanding over the last 3-4 months growing from 65 cities to 100 cities during the time. Suhail Sameer, Group President of Bharatpe said in an interaction with the Economic Times said that the company grew significantly within two years.

    With the growing usage of digital payments, Bharatpe might become the leader of e-payment in India. The company is planning to expand its business further to 300 more cities by March 2023.

    FAQs

    Is Bharatpe approved by the Reserve Bank of India (RBI)?

    Yes, Bharatpe has been approved by the RBI and has been granted a license to set up a small finance bank in India.

    Is Bharatpe free?

    Bharatpe is completely free of cost. The company does not charge any transaction fee.

    Who is the founder of Bharatpe?

    Ashneer Grover and Shashvat Nakrani has founded Bharatpe on March 20, 2018.

  • Who is leading the Air Taxi Startup Race in India

    There is a huge increase in population in India. The increase in population has led to an increase in the traffic in the metro cities in the country. The top cities in the country were ranked in the top positions for the highest traffic worldwide.

    To bring a solution to this huge traffic and the delay caused because of that various startups have been working towards building Air Taxis. Let’s look at some of the Air Taxi startups in India.

    UDAN Scheme Air Taxi Service
    Ubifly Technologies
    IIT Kanpur Air Taxi
    Uber Air Taxi
    Vinata Aeromobility
    Conclusion
    FAQ

    UDAN Scheme Air Taxi Service

    India’s first Air Taxi service was first launched at the Chandigarh airport. It was inaugurated on 14 January 2021 by the Chief Minister of Haryana Manohar Lal Khattar. The Air Taxi service is launched under the UDAN scheme of the Central Government.

    Airports Authority of India had tweeted on their official Twitter handle saying that India’s first Air Taxi flight was flagged off by the Chief Minister of Haryana as part of their Inauguration. They added that the flight will operate under the Regional Connectivity Scheme RCS-UDAN.

    The Chief Minister of Haryana said that this is the first time in the country that a small aircraft is used for services in the form of an Air Taxi.

    The Air Taxi can carry one pilot and three passengers. The Air Taxi has the lightest plane which has a twin-engine in the world. Its weight is 760 kg. The aircraft uses a standard 92 octane petroleum which is different from the normal flights which use Aviation Turbine Fuel (ATF).

    The aircraft can travel at a range of 742 Nautical Miles. The services can be availed at INR 1,755 per seat. The main objective of the aircraft is in line with the government’s aim to connect the Tier 1 and Tier 2 cities with the metro cities of the Country.

    A subsidy is provided by the government to the airlines per seat to provide better connectivity to the smaller towns. As per the reports the airline will cover around 26 routes under Regional Connectivity Scheme (RCS) UDAN.

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    Ubifly Technologies

    Ubifly technology is a Chennai-based startup that is working on developing e-planes in the country. Ubifly Technologies Private Limited was founded in the year 2016. The company is commonly known as the e-plane company.

    It was founded by Satyanarayanan Chakravarthy and Panjal Mehta. The Startup is concentrated on developing electric planes and unmanned aerial vehicles (UAV). The main aim of the startup is to bring a new definition for intracity travels and their products focus on short-distance intracity travels.

    Pranjal Mehta(Left) with Prof.Satyanarayanan
    Pranjal Mehta(Left) with Prof.Satyanarayanan

    The company is trying to build a hybrid mix of drones and electric airplane technology. The vehicle will take off and land similar to the drone but will move forward in the air like an airplane.

    The Startup has already designed three UAV models, Ek Hanz which will be used for delivering goods and services, Scout which is for security and surveillance, Vayu which will be a hybrid autopilot e-plane.

    The company will develop a two-seater air taxi which will be called as e200.

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    IIT Kanpur Air Taxi

    IIT Kanpur had signed a Memorandum of Understanding (MOU) with VTOL Aviation India Pvt. Ltd. The deal is worth INR 15 crore. VTOL Aviation India Pvt. Ltd is an Indian private aviation company. The MOU is for building prototypes that will be operational and will be used as flying taxis.

    The project is expected to be completed by 2023 where over 100 researchers from IIT Kanpur are working towards developing a fully functional prototype.

    According to the deal, the researchers will first conduct a test to identify the feasibility of the project. This is to understand the key technological areas of the project and the rest of the project is expected to be completed by 5 years.

    Ajay Ghosh who is the head of the Aerospace Engineering and the Flight Lab at IIT Kanpur has said that there will be more than 100 students working on the project in the coming years.

    The researchers will work on developing the aircraft based on VTOL technology that is vertical takeoff and landing. They are working towards building an electric aircraft to promote clean energy and sustainability.

    Uber Air Taxi

    Uber is working on developing an aircraft based on e-VTOL that is electric vertical take-off and landing. These are considered to be cleaner, cheaper, and safer than helicopters. Uber Elevate is working towards developing aerial ridesharing with Uber Air and is expected to take off in 2023.

    Uber Air taxi Prototype
    Uber Air taxi Prototype

    In 2020 it was announced that Joby Aviation will acquire Uber Elevate. Both the parent companies have agreed to integrate their services into each other’s app.

    Uber had announced that Dallas and Los Angeles as the two cities to begin their Air Taxi and Melbourne, Australia as its first international city to move forward with its expansion.

    Uber has also said that it has shortlisted 5 countries other than the US to expand its Air Taxi services which include Japan, India, Australia, Brazil, and France.

    Vinata Aeromobility Model

    Vinata Aeromobility

    Vinata Aeromobility is developing a Full Autonomous Hybrid Flying car through Advance Aeromobility by using combined technology of quadcopter VTOL hybrid power urban air mobility systems and integrated electric power 4 wheel drive motor with advanced aerospace engineering cutting edge technologies.

    According to Yogesh Ramanathan, Founder, and CEO of Vinata Aeromobility, the company is hoping to perform flight trials of their Hybrid-electric Flying car by 2023 and make it available for Commercial flights by 2025.

    It can fly at a speed of 100 to 120 kilometers per hour and can carry two passengers at the same time, with a maximum flight time of 60 minutes at a maximum height of 3,000 feet.

    Conclusion

    Other than these some more companies are working towards the Air Taxi services around the globe which include Vertical Aerospace, Hyundai’s helping hand, a joint venture between the Boeing company and Kitty Hawk Corporation.

    FAQ

    What does Air Taxi mean?

    Air taxis are small commercial airplanes used for short flights between localities.

    Which company is going to start a drone air taxi service in India?

    Malaysian budget airline AirAsia is planning to launch a flying-taxi business as soon as next year.

    Does Dubai have a flying Air taxi?

    Dubai has one of the first major projects of Air taxis, The Autonomous Air Taxi (AAT) is an 18-rotor drone taxi. The company claims to be the world’s first ‘self-flying taxi service’.

  • Can Time Be Used as a Currency? How Did IKEA Turn Time Into Money?

    Have you ever thought about this? What is money? You might say that money is currency notes that are accepted as a legal tender by the government of a nation. Well, you are not wrong here but think more deeply, think of the concept of money, how it came to existence. Is this the only currency or there can be a better perspective to look at it. Can brands incentivise to change your viewpoint of money? Let’s figure out how a company changed money norms.

    How can Time be converted to Money?
    How IKEA turned ‘Time’ into ‘Money’
    Benefits of Buying with your Time
    FAQ


    How can Time be converted to Money?

    Suppose you want to buy something, let’s say the latest iPhone. You go to the store and you exchange your money with the iPhone. Simple right? Actually, no.

    Let me make it clearer. There is a principle in microeconomics that says ‘the price of something is what you sacrifice to get it’. You might think it’s the money that you sacrificed to buy the product, but think again. How did you earn that money? How much ‘time’ did it take you to earn that money? Yes, you are near the answer.

    This might look weird in the first view but it is the ultimate truth. We are all told that money is currency from ad infinitum. Such culture all around us has made this entrenched in our minds. So much so that we started to believe that it is somewhat the most important thing in our life, ignoring the fact that it is time which is supreme. Well, not being more philosophical here, let’s move on.

    So we just saw that time is the ultimate currency (at its root). This is not a hypothesis anymore, rather it is gradually becoming a reality. As more and more people get to know the importance of time, it is slowly getting in the main focus of the brain.

    Well, not only our brains but some companies have focused on it too. For example, IKEA.

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    How IKEA turned ‘Time’ into ‘Money’

    IKEA is a Swedish retailer that deals in ready to assemble furniture. Be it kitchenware, office chair, and all sorts of home appliances. It has started a campaign where it allows customers when they shop from their stores, not to pay with currency but to pay with their time. Yes, their time.

    IKEA Dubai announced that customers can pay with the time that they took to reach the stores. They are scanned by IKEA staff for their Google maps history and then according to the time that it records, customers can pay for buying any goods at the store. This is restricted to Dubai only for now but can spread as the campaign gets successful.

    IKEA Buy with your Time Campaign
    IKEA Buy with your Time Campaign

    IKEA’s giant stores are mostly and primarily built on the shores of cities. As a result, customers travel more in order to visit the store. So obviously there has to be some pulling incentive. Some incentive which is more powerful than the pain of travelling borne by customers.

    So IKEA innovated this incentive by giving a discount, as it can be seen as a discount. It says fine, if you travel to our store from a good distance then we will let you pay with time.

    IKEA Dubai 'Buy with your Time' Price Tag
    IKEA Dubai ‘Buy with your Time’ Price Tag

    Everything in the store was marked with tags of money as well as in terms of time. During the checkout, all the customers have to do is to show their google maps history and travel to its stores. This was the “Buy with your time” campaign that it initiated. Which as expected became an instant hit.

    How did IKEA Benefited from ‘Buy with your Time’ Campaign

    This “Buy with your time” option definitely changed the way customers shop at IKEA. The benefits that the campaign entailed were as follows-

    Visit Frequency

    This innovative marketing technique promoted more and more visits to the store. Now customers would agree to travel long distances to come and shop at IKEA which lead to better customer loyalty. This incentive for time also leads to better customer retention. Once a person enters IKEA’s premises, the store would do its job in luring them to buy more products.

    Store time

    When someone uses his good chunk of time to travel to a destination, then he normally prefers to spend more time at the place to make the travel worth it. This is normal psychological behaviour but works wonders for IKEA. As the furniture retailer installed an incentive to travel longer times, customers tend to be in the store for more time than average. They tend to buy more products impulsively.

    Reciprocity

    IKEA has recorded in the past data that most customers that are loyal, travel an inordinate amount of time to travel to IKEA stores. So, the company thought of incentivising this behaviour, which will not only build better relationships with the existing customers but also encourage new customers to build that behaviour.

    Google Maps

    The involvement of Google maps in this promotion technique has added more users to the map services by Google. It also means that customers have to allow Google to track the time that they travel on road. It also encourages behaviour of ‘it’s fine to get tracked until you are getting incentivised’. This thing scares privacy conscious people a little but most are okay with it.

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    Conclusion

    There is sure that this campaign went well. It worked perfectly fine with customers, making them visit IKEA more often. This also pushed other retail brands to think about adding this as a promotion tool to their inventory.

    This experiment was thoughtful and tells us how one currency can be shifted with another more universal in nature. It also showcased how customers react to incentives that are time consuming. It also reveals how we are not trained to see time as a currency. While companies change the fate and face of the world, who knows time becomes the next currency?

    FAQ

    How much time do people spend at IKEA?

    According to a store manager the average consumer spends around 2½ to 3 hours at IKEA.

    What is IKEA Buy With Your Time campaign?

    The campaign, “Buy With Your Time,” was created to help shoppers who live on far away from the IKEA stores and spend a lot of time traveling to the stores.

  • Why Average Salary of Spotify Employee is more than $150k?

    What would you say if I asked you what is the best part of a job? yes, we all know it, it’s the salary. Except in some cases when you are madly passionate about working and creating impact.

    So for the general public, it’s the return on time investment. It is a good metric to judge a job based on how much it provides a return. It can also be seen as a value meter that tells how much of a value is being created. Higher the return, the greater the level of value addition.

    We all know the most popular players in providing handsome salaries like Apple, Google, Microsoft, Adobe, Goldman Sachs. This article is not about them, as you must’ve guessed from the title. It is about Spotify, but let us build up a basic understanding of salaries and company profiles and then jump to Spotify.

    Every human, every civilized human wants money. Okay, enough philosophy. Everyone who wants to join the workforce wants to join a corporation that will pay them well. They aim for the biggest names in the market and even if they fail to get the moon, they vouch for stars.

    A Brief about Spotify
    How does Spotify pay its Employees better than its Competitors?
    How much does Spotify pay its Employees?
    FAQ

    A Brief about Spotify

    Spotify is a Swedish music and media streaming service. It is also the world’s largest music streaming service provider. It offers services on almost every device possible, be it Mac, Android, Windows, and Linux.

    As of now, Spotify has a huge user base, it has around 172 million paying users and around 381 million of the total user base. That too across the globe and in around 178 countries.

    Spotify Worldwide Monthly Active Users
    Spotify Worldwide Monthly Active Users

    Music is food for the soul and these numbers prove the statement right. People love to listen and their favourite one-stop place to go is Spotify. Spotify is good at giving recommendations, understanding its users, and increasing their retention.

    The streaming service also entails a premium section of listening to music. It includes music downloads and group listening, Spotify is promoting its premium section by small payments recurring at small intervals of time. Like a 7 Rupee for a day, or 25 for a week. These are specially designed packs for the Indian audience to make them more comfortable with streaming servers.

    We all were earlier used to downloading songs (Illegally) and then listening to them, but it was wrong and steps like that of Spotify are helping make the shift to streaming music and paying for songs they love. This is the legitimate way to honor artists that create songs as their art form.

    Spotify is not only good for listeners but also a great corporation for the people working there. The employees are relatively happy there because of the competitive salaries and perks that the company provides. Let us look at some of them.

    However, there are many competitors in this space, like the common name YouTube Music, Gaana, Saavn, and many more but time and again with its efficient working and great management, Spotify has managed to top the charts of not just songs but streaming too.

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    How does Spotify pay its employees better than its competitors?

    Apart from having a huge user base. Spotify has close deals with differentiating podcasts like Joe Rogan, Obama Family, and many more. All this adds to its revenue maps and allows the company to provide competitive salaries to its employees. The average salary of a Spotify employee is more than 110,500$. That is a handsome amount.

    Spotify has increased employees by 28 percent in 2019. This shows the demand for the product market. Business insiders performed research and found out that the company can pay more than the past average, in stock or cash.

    As we discussed earlier the popularity of Spotify and the domains it provides services in. It has a freemium edge and a premium edge. Freemium includes music streaming with advertisements, this adds up to the revenue that they generate from the advertisement domain.

    The premium includes some price that disables ads and provides pro benefits like downloading music and commercial-free listening. This adds up the main revenue model of royalties. Spotify pays artists a fixed payment for their songs being listed on the platform.

    How much does Spotify pay its Employees?

    Spotify Salary Average by Department
    Spotify Salary Average by Department

    Spotify pay Marketing Specialists $95,000 to $190,000. Researchers and specialists around 140,000 to 240,000 dollars of base salary, Engineers and statisticians about 110,000 to 250,000 dollars and Human resources, finance or legal 133,390 to 185,000 dollars.

    The highest-paid salary is that of director of sales that is around $200,000 and the lowest is about $46,500. Making the company average reach more than $110,000.

    The unique thing about Spotify is that it is allowing WFH from anywhere with getting the same salaries as before.

    In February 2021, it announced a Work from anywhere scheme. Allowing employees to work from anywhere, and the company will continue paying the New York and San Francisco salary rates. Executives believe that it is the future.

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    Conclusion

    As Spotify changes how people listen to music, the legal way. Its effective business revenue model is working fine. It can provide some most competitive salaries. This is a good thing for keeping up the employee’s motivation and providing them with a platform to be their best self.

    Other domains should learn from this and try to create a differentiating factor that places them in a better position than competitors. Thus, adding better working efficiency in the corp.

    FAQ

    How much do Spotify employees get paid?

    The base salaries of Spotify employee ranges from $60,000 to $260,00 for a variety of roles.

    Does Spotify pay its employees better than its competitors?

    Yes, Spotify does pay its employees higher than its competitors.

  • HubSpot Business Model: How does HubSpot Make Money

    The internet has brought an immense change in the world, its invention is the game-changer in the technology industry, and is actually the root of every modern tech. In fact, the entire world is literally in our hands because of it.

    Thanks to technological advancement, now we can store and manage data on the internet itself and can also provide IT services through it with the help of Cloud computing systems. In this computing system, we don’t need computer hardware to run the program and store the data.

    The growth of a company hugely depends on its marketing, sales, and its customer service; a business has to do a lot of things for its survival. Online marketing is a new way, and a business must indulge itself in it. The software is used for all of these so that a company can grow to its full extent. One of the most popular platforms that offer all the above facilities is HubSpot. In this article, we will talk about HubSpot, its business model, how it makes money and what exactly it does. So let’s begin with it.

    “Every kid coming out of school now thinks he can be the next Mark Zuckerberg, and with these new technologies like cloud computing, he actually has a shot.”

    – Marc Andreessen

    What is HubSpot?
    Business Model of HubSpot
    How does HubSpot Make Money?
    FAQ

    What is HubSpot?

    HubSpot was founded in the year 2006 by Brian Halligan and Dharmesh Shah, both of them are MIT graduates. HubSpot is mainly about developing cloud-based marketing software, for businesses to market themselves online.

    HubSpot is a huge platform that deals with everything that is needed in the process of digital marketing of a business, like Inbound marketing, social media publishing, blogging, SEO, web content marketing, email marketing, and reporting and analytics. Its headquarters is in Cambridge, United States of America. Basically, it is a software platform that helps business sell their products and services more.






    Try HubSpot


    In 2021, HubSpot acquired The Hustle, which is a newsletter company that deals with small business owners and entrepreneurs. In the month of September of 2021, Yamini Rangan becomes the new CEO of HubSpot.

    What Is Inbound Marketing?

    Hubspot deals with CRM (customer relationship management) and offers inbound marketing. Inbound marketing is all about helping potential customers find the business by making it visible online. Inbound marketing includes SEO, social media marketing, content marketing, and email marketing.

    What Are The Advantages Of Inbound Marketing?

    Here, we will talk about the benefits that a business gets from inbound marketing. They are:

    • Gets the business its customers from different sources like YouTube, Blog, and social media instead of from a single source.
    • Trust can be ensured to the customers when the company shares the content about their products and services that shows their reality.
    • If inbound marketing is done properly, advertisement costs can be avoided and money can be saved.
    • Content is created in such a way that they can reach the audience whenever they search about something using specific terms.

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    Business Model of HubSpot

    HubSpot being a SaaS company indulges in the creation of software for inbound marketing and sales-related work. It mainly makes money through subscription plans and of course professional services that include providing tools to help in the process of digital marketing of a business.

    When HubSpot first started its journey, it used to focus on small and medium-sized businesses, but now with time, any kind of business that wants to strengthen its online presence is, willingly investing in HubSpot. In 2007, only they proved their mettle when it acquired their competitor GroupSharp.

    How does HubSpot Make Money?

    The software made by HubSpot is sold on a subscription basis. The CRM (Customer Relationship Management) tool is free for the customers to use, plus this helps HubSpot attract customers to use their subscription basis plan.

    The hub application of HubSpot is another form where the income comes from. It includes three hubs, which are marketing, sales, and service hub. Third-party apps, consultation, and events are additional ways how HubSpot makes money.

    Marketing Hub

    The marketing hub comes in three different plans and they are starter, professional, and enterprise. This also comes in a free package as well and helps in converting the users into customers that willing to pay.

    Sales Hub

    The Sales hub is used to boost the performance of the sales of the business. It has some great features that include live chatting with potential customers, sending quotes to the customers, and others.

    Service Hub

    The Service hubs include a different support system that the customers need, like giving out surveys and answering all the frequently asked questions to enlighten the customers more.

    Third-party apps like Outlook, Mailchimp, and Slack provide these hubs offering to the customers. Consultation service is offered by HubSpot like SEO-related tips for the customer’s website, content strategy, and others.

    Events are also conducted all over the world to advertise their tools and services and teach how to increase sales, all these come under a fee that the audience of the events had to pay.

    As of 2021, HubSpot has reached over $1 billion in annual recurring revenue. The 15-year-old company has over 100,000 customers that are paying for its services. In the year 2021, HubSpot reportedly has over 4981 employees and with so many employees and a brilliant business strategy, the revenue of the company is not at all surprising.






    Try HubSpot


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    Conclusion

    HubSpot as a CRM platform with its different tools works in making the business reach the heights of success through the help of inbound marketing.  We are in a position where we cannot ignore digital marketing for our business.  All the things that are necessary for the digital marketing of a business, HubSpot gives out those services through cloud computing.

    FAQ

    What is HubSpot used for?

    HubSpot is a CRM software designed to help customers in aligning the business sales and marketing teams.

    Is HubSpot good for Small Businesses?

    HubSpot is said to be the best for small and mid-sized businesses that are looking to attract customers online.

    Who is the CEO of HubSpot?

    Yamini Rangan is the current CEO of HubSpot in 2021.

  • Why does South Dakota hold Half a Trillion Dollars Worth of Assets?

    South Dakota has been much in the news for its half a trillion dollars worth of assets in recent years. It is considered as the US next haven! Impressive, right? As per the FDIC’s bank statistics report, South Dakota ranked first with $3.13 trillion as of the commercial and saving bank assets, widely ahead of Ohio with $2.96 trillion.

    According to the South Dakota Department of Labour and Regulation, trust companies held around $175 billion in assets which was an increase of 45% from the last two years. These trust assets are utilised mainly for the rich people to safeguard their wealth for a longer duration. And in South Dakota, these trusts are growing with an exponential graph, mainly because of the country’s permissive trust laws.

    But the actual question that arrives here, is how does South Dakota hold such a massive amount of assets? Previously, in October, Pandora Papers (millions of financial records) got in the hands of journalists. Within which, the state data showed how South Dakota held half a billion dollars of assets in its trust.

    And that’s what we are discussing in this article in brief. So, let’s get started!

    Adoption of Key Laws by South Dakota
    U.S. Low levied Tax Rates
    South Dakota is a major spot for foreign assets
    Zero Income or Estate Tax over Trusts
    FAQ

    Adoption of Key Laws by South Dakota

    Nearly four decades ago, the state adopted a few of the key laws in its financial systems, which are: Eliminated cap on interest rates for lending and No expiry period on trust laws.

    This majorly drives the attention of the financial industry towards the state. The state has zero tax income which makes it one of the most popular spots for people who want to pass their assets to the future without any liability of estate taxes. Ever since then, South Dakota has been gaining huge clients.

    The Pandora papers revealed how the politicians and businessmen have been transferring their wealth into U.S. trusts funds, saving them from paying taxes or getting directly involved in any deals.

    U.S. Low levied Tax Rates

    “The U.S. is widely known as the world’s best place for dumping hot money,” said Heller. The main reason behind this is the no rule for reporting foreign assets to the respective countries for the investors.

    With the extremely smooth and lenient banking system of the United States, wealthy families and businessmen come here to gain the same level of privacy that they previously got from places like Switzerland.

    This makes the United States the second-ranked Tax haven in the world, as per the report of Tax Justice Network. And states like South Dakota and Nevada, are widely considered as the most attractive spot for people who dodge taxes.

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    South Dakota is a major spot for foreign assets

    Pandora papers have revealed many major facts regarding the assets and taxes in the U.S.A, among these, one was South Dakota being a tax shelter for wealthy families and businessmen. The state is considered the main attractive spot for foreign assets.

    The report revealed that South Dakota has over quadrupled to $360 billion in the past decades.

    The lawmakers of South Dakota have drafted the legislation by the trust industry insiders which gives them great protection and benefits over the trust funds to the trust customers all across the United States and foreign countries.

    The biggest flex for the rich people is the state’s ban on the “rule against perpetuities”. This builds a very safe space for the wealthy families to establish their dynasty trust and let it go on forever, without any burden of estate taxes.

    Trust Assets in South Dakota
    Trust Assets in South Dakota

    Zero Income or Estate Tax over Trusts

    Another biggest reason for wealthy families and business people to set up their trust in South Dakota is because of its extremely lenient tax rules. The state does not have any income or estate tax over the trusts. Yes, it’s very true!

    All the funds placed in the private trusts are not bound with any return of income tax by the state. South Dakota does not ask and collect the income generated through these trust funds, even if it’s in the count of billions.

    Alongside, the state does not ask for any estate tax, even after the death of the owner.

    The people of South Dakota’s law does not necessarily need to invest in any local trust in order to live in the states. Although the investors are lying around the states with billions of trusts funds, they do not directly contribute to any sales or estate tax revenues.

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    Conclusion

    Being one of the most attractive spots for wealthy families and business people, South Dakota is counted among the top tax havens in the United States. The people living in the state earn good benefits from the lenient trust laws of South Dakota.

    In fact, the state is expected to experience the biggest wealth transfer that ever occurred in the history of mankind. And because of this only, the trust companies in South Dakota have been growing the job market within the state over the past few years. South Dakota does benefit from its trust laws and so are the rich people living in the state.

    FAQ

    Are taxes high in South Dakota?

    No, South Dakota is one of the lowest tax state in United States.

    What states are considered tax havens?

    South Dakota and Nevada are considered as tax havens in United States.

    Is there income tax in South Dakota?

    No, South Dakota does not levy any income tax.

  • Apple vs. Samsung: A Case Study on the Biggest Tech Rivalry

    Humans are amazing animals, I mean we are smart and can do almost anything. Be it flying, cooking, innovating, and even revolutionizing the whole world with unbelievable technology. Think about this, the first computer was built in 1822, by a smart human called Charles Babbage. It used to have vacuum tubes and large compartments for storage. We have grown from that time at a rapid scale and efficiency, we have seen multifold growth in technology.

    So much so, that the computer that once occupied a whole room by itself, now sits in your hand. Moreover, it just sits on our palms for a long time now as our screen times jump.

    The smartphone industry has grown and has become one of the biggest industries in the world. Right now, there is a smartphone user base in the billions. This growth has led to the establishment of smartphone giants. Behemoth organizations like Apple and Samsung.

    We all have that friend who is an ardent fan of apple, and we all have got a friend too who is always in love with Samsung. This takes us back to the smartphone war that has continued since time immemorial. The android vs apple war. This disparity in demographics is a good indicator of the product market. The user market is much skewed in different directions.

    This article is the dissection of the silent raging war between Apple and Samsung. Read on to discover stories and not many known facts about the tech hulks.

    Apple
    Apple Product Line
    Samsung
    The Rivalry Inception of Samsung and Apple
    How Samsung and Apple Turned From Friends to Foe
    The Billion Dollar Samsung Apple Lawsuit
    The Court Rule and Afterwards
    FAQ

    Apple

    It’s not a necessity to introduce Apple. The reason is that it is already a brand, a valuable brand which has managed to make a place in the hearts of people all around the world. That also explains why the company has no ‘about us’ section on its website.

    Apple is the brainchild of Steve Jobs. It is an American multinational company specializing in consumer products in the tech line. The company is the biggest technology company with its magnanimous revenues and the most valuable company in the world. That too started from a garage and managed to become the most recognizable company in the world. It has been revolutionizing personal tech for decades.

    Apple Product Line

    Apple 1 was the first computer handmade by Steve Wozniak (Apple co-founder) under the name Apple in 1976. It was a computer encased in a wooden block. Then followed by Apple 2 which was more successful than the predecessor. After the success, they faced good losses in the fall of Apple 3. It faced overheating issues.

    After seeing such failure they started to work on innovating something new. To come out of this deep pit, Something that will hopefully revolutionize personal computing.

    They began to work on the Macintosh. It was their first computer that supported GUI or Graphic user interface, which allows the user to communicate with the computer in graphical mode. Launched the Macintosh in 1980 and this began the winning strike for apple.

    Steve Jobs with John Sculley
    Steve Jobs with John Sculley

    It was in 1983 when Steve Jobs famously asked Pepsi CEO John Sculley to be Apple’s next CEO or if he wanted to “sell sugared water for the rest of his life or change the world? ” The relationship went bad later.

    To remove him, Steve initiated a move that backfired and ended up removing himself from the board. The company saw good growth under the leadership of Sculley until he was removed because of some failed products.

    Later Apple bought ‘Next’ which was founded by Steve Jobs bringing him back as an advisor. He immediately trimmed most of the product density in Apple and made the company as slim as possible and launched new sleek products.

    Steve Jobs with the First iPhone
    Steve Jobs with the First iPhone

    He worked secretly on the first iPhone and launched it in 2007. It was an instant hit. Since then, iPhones have been the most popular phones in the world. A major part of Apple’s revenue comes from them.

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    Samsung

    The Samsung that we know today, wasn’t this when it started. It has gone through enormous shifts. Surprisingly, the company was not even in the technology business at its inception in 1938. It was a small company dealing in fried fish and noodles. In the 60s it entered the smartphone segment and today is the largest manufacturer of smartphones, televisions, and memory chips in the world.

    In 1938, Lee Byung-Chul dropped out of college and founded a small business he named Samsung Trading Co. The initial corporate logo had three stars and was based on a graphical representation of the Korean Hanja word Samsung. It operated with the same Japanese culture as every corporate body, the employees did as they were told.

    Soon with a good culture and with government assistance it entered domains like sugar refining, media, textiles, and insurance and became a success. So at this time, it was in good economic condition.

    After the succession of third heir Kun-hee, the company saw an opportunity in technology and he invested heavily in semiconductor technologies and transformed Samsung from a manufacturer into a global technology powerhouse.

    After Kun’s death, his easy-going son succeeded to the throne and began investing more in smartphones and more in tech. Later the company saw the most profits from smartphone sales. The most famous Samsung phones are Galaxy, after the first launch in 2009. During the third quarter of 2011, Samsung surged past Apple to the number one spot among phone manufacturers, based on shipments.

    Samsung, as it saw handsome revenues in the smartphones segment, mocked Apple in many ways. You can still see those commercials on YouTube. So did Apple. They released commercials that defame other pioneer brands openly. This makes the rivalry public and leads to polarisation in the market. Let us discuss it in further detail.

    The Rivalry Inception of Samsung and Apple

    As the smartphone market and the hype around this continues to grow, smartphone leaders fight for greater dominance in this segment of the product. Behemoth organizations Samsung and Apple are the pioneers in this segment and one of the most famous rivals in the world. They not only fight for a greater market share but the main rivalry is a little off topic, it is a long legal battle into dark plagiarism.

    Samsung not only competes with Apple in the notebook, tablets, and smartphones market, It also supplies Apple with crucial items for iPhones like OLED display and flash drive memory chip for storage. The Samsung we know today has not been constant as we consider its long history.

    In the 80s the company was primarily focused on the semiconductor business. Apple was one of Samsung’s largest buyers, ordering billions of dollars of parts for electronic devices. Its CEO at that time did meet several times with Steve jobs for advice or negotiations. The two companies had friendly relations with each other. Until something happened.

    In 2007 the first iPhone was unveiled to the world. Two years later, in 2009 Samsung came up with a touchscreen device for their market running on Google’s android system. Apple CEO Steve Jobs called Samsung a Copycat. ‘POOF’. Apple filed a lawsuit against Samsung. The rivalry began.

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    How Samsung and Apple Turned From Friends to Foe

    According to Walter Issacson, Steve’s biographer, He wanted to start a thermonuclear war against Android in this case of plagiarism and copying apple’s authenticity. From that event, Samsung dared from being a supplier of technological equipment to a competitor in market share. It went from being an ally to a fierce enemy.

    Apple was extremely infuriated with this and dragged the matter into court, showcasing that the company is super sensitive about this issue. It filed a lawsuit against Samsung in serious violations of patents and trademarks of Apple’s property rights.

    However, the court case wasn’t the first guard of Apple against Samsung. Both the companies Apple and Samsung had a long history of cooperation, so Apple first thought of talking the matter out rather than taking the case to court.

    Apple proposed a licensing deal for Samsung for the patents and trademarks. The document stated that Samsung will pay 30$ on selling every smartphone and 40$ on every tablet.

    Samsung ofcourse declined the offer, stating that the company hasn’t done anything wrong and is not involved in copying Apple or violating any of the trademarks mentioned in the lawsuit. Not only this, Samsung reversed the licensing agreement onto Apple stating that they are the ones who are copying. This began the row of court cases by these tech hulks against each other.

    The lawsuit filed by Apple was specific about the number of patents and the type of patents Samsung violated, let us discuss a little about the violations Apple mentioned.

    The Billion Dollar Samsung Apple Lawsuit

    The first lawsuit demanded 2.5 billion dollars in damages from Samsung. So we can assume it wasn’t a normal lawsuit. Apple was very serious about their smartphone launch and now with this case too. Samsung however seemed like it was ignoring Apple’s claims of plagiarism and trying to put the burden on Apple themselves.

    Trade Dress

    It is a visual form of patent, that deals with the visual and overall look of a product. Sometimes companies copy some famous brand’s product look and hope to generate sales. As people tend no not to look about details of a product, rather they just pick up based on the appearance of something. It instills confusion in consumers. Samsung Galaxy phone was the first touchscreen phone in the Samsung product line and it looked mostly the same as the newly launched iPhone.

    Trademark Infringement

    Apple Samsung Design Similarity
    Apple Samsung Design Similarity

    While Samsung could argue on the physical appearance being similar with iPhone but another thing the lawsuit included was trademark infringement. The icons on the iPhone were strikingly similar to those in Samsung’s phone. This turns the eyebrows up for Samsung. As there can be thousands of ways of designing icons and GUI effects, Samsung chose in most cases icons similar to that of the iPhone.

    Other than these the lawsuit also concluded the methods of copying of the home screen, the design of the front button, and the outlook of the app’s menu. All these were some specific irks for Samsung.

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    The Court Rule and Afterwards

    The case began in 2011 and went on to go worldwide. By July 2012, the two companies were still tangled in more than 50 lawsuits around the globe, with billions of dollars in damages claimed between them.

    Hearing both sides, the law court ruled in the favour of Apple. The basis was their legitimate concerns about their product being copied in the open market. Samsung paid $1 billion in compensation to the iPhone designer.

    “I am talking to you on a phone right now that Apple just copied,” said Brian Wallace, Samsung’s former vice president for strategic marketing. “It’s a giant phone that Steve Jobs made fun of. Who was right? Samsung was right.”

    After this and all the cases in between this first court case, Samsung didn’t stay shut. It widely talked against Apple and filed lawsuits claiming infringements of their company policies and patents. These behemoths fought each other like wild animals. Suffering millions on each side, Tore each other apart in claims.

    Conclusion

    Apple claimed that Samsung had copied the iPhone, leading to a long-running series of lawsuits that were only finally resolved in 2018, with Apple being awarded US$539 million. Issues between the two companies continue. They are now perhaps best described as ‘frenemies’.

    While tech hulks like these two fight for global dominance and the crown of the most innovative technology pioneer, it is sure that smartphones are a hot topic. It seems like everyone wants the latest phone to set a trend. From the latest Samsung foldable phone to the iPhones sold as a jewel. This market kind of seems like a fashion innovation.

    Apple and Samsung will most probably rule until someone innovates in between. Whatever it will be, humans are fascinated and the future is exciting.

    FAQ

    Who won the Samsung Apple lawsuit?

    Apple won the patent dispute against Samsung and was awarded $1.049 billion in damages for 6 of the 7 patents brought to bear.

    Why did Apple sue Samsung?

    Apple initially sued Samsung on grounds of patent infringement.

    Who launched first smartphone Apple or Samsung?

    Apple iPhone was launched in 2007 and two years later, in 2009, Samsung released their first Galaxy phone on the same date.

  • Marketing Strategy of Udemy

    The global world has become a home where sincere and eager learners have 24-7 worldwide access to a number of personal tutors and guidance all at the same time, each professor giving expert advice to the keen minds and helping them. The virtual tutors tend to explain their subjects in simpler ways comparatively, they also teach them in a practical language and are even willing to repeat classes. And the amazing part is all this comes free or at a minimal cost. One of the overly amazing platform has been established known as Udemy.

    The efforts of education entrepreneurs are revolutionizing traditional learning methods by replacing classroom instruction and fixed curricula with self-paced, online education and instruction from subject experts around the world. Online education gives freedom as sources of knowledge are free wherever they may be found.

    About Udemy
    Udemy Business Strategy
    Udemy Marketing Strategy
    Conclusion
    Frequently Asked Questions

    About Udemy

    Udemy is the world’s largest online learning platform and was founded by Eren Bali in 2010, aiming mainly to educate adults and students. Udemy has a huge student database with more than 30 million students learning worldwide. A total of 50,000 instructors teaching courses in over 65 languages covering over 245 million course enrollments over a period.

    Udemy is a platform where the user gets access to a database of new courses and gets wide exposure. The courses from various sectors are available and also in various languages to meet the learner’s expectations.

    The founder of Udemy-Eren Bali
    The founder of Udemy-Eren Bali

    Udemy is based in California with $48 million in funding. The company has created a tech platform that allows new instructors to plan, create, design, and produce video instructions for almost any subject.

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    Udemy Success Story

    Udemy targets several different markets. The tutor or instructor who creates the course, the student who takes the course, and organizations that might utilize Udemy technology to create specialized courses as a branded product or for internal employee use.

    This platform offers 20,000 video instruction courses divided into different categories with suitable prices. Udemy gives opportunity to more than 10,000 instructors globally. The rapid growth of the student base to acquire knowledge on Udemy is amazing and there are 4 million views for videos.

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    Udemy Business Strategy

    There are other competitive ed-tech companies like Coursera, Unacademy that have grown their academic institutions online. Udemy, on the other hand, has adopted the unusual path, they came up with an idea of helping candidates to become an instructor on Udemy. Udemy has also built a B2B platform for the Business offering, which targeted a completely different set of target audiences.

    Instructor Fees

    Udemy does not charge anything from an Instructor to make and publish content. Udemy earns when students purchase a course online. The firm charges 50% for organic purchases and paid advertising on digital media for promoting instructors.

    The revenue generated is then shared with instructors. Instructor fees depend upon the mode of purchase opted by the candidate.

    Three revenue streams of Udemy:

    • Instructor Promotion: The instructor receives 97% of the revenue generated on purchases done by using a referral code or link and the other 3% is received by the firm.
    • Udemy Organic: The sales are called organic when a student explores a course through the site and does not use any referral code. In this case, Udemy receives 50% and the instructor receives an equal amount of the course’s revenue. Udemy charges a 30 percent fee for any sale made through the company’s Android or iOS app.
    • Paid Acquisition: If any student purchases the courses through paid advertising, displayed by Udemy on channels like YouTube and Google, Udemy takes 75% of each course sale. Instructors get the choice to decide where and how many times the course advertisement should be featured.

    Udemy for Business

    Udemy has plans for companies as well. With this plan, employees get access to top courses on the Udemy platform.

    Udemy has two subscription plans, a Team plan, and an Enterprise plan. The Team plan is aimed at learning groups of 5 to 20 users.

    The enterprise plan is suitable for all teams above 21 or more users. Thereon, pricing is available upon request by contacting Udemy’s sales team. Along with access to top courses, Udemy provides custom categories and learning paths, no language limitation (the Team plan is limited to English only), custom user groups, tracking user activity, slack integration, and many more.

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    Udemy Marketing Strategy

    In any course of establishing the startup in the market or even after setting it up, marketing has to be given its importance as it attracts more attention and customer base. Udemy has got the power of attracting the target audience and making them believe in online education. In this virtual learning world, there are several marketing strategies of Udemy to count on:

    Growth of Course enrolment on Udemy
    Growth of Course enrolment on Udemy

    Specific Goals should be set

    Like all the other top businesses, Udemy has given a sales and revenue target to achieve, to their specific team and get the plan working through online marketing.

    Solving Problems of Customers

    Acknowledging and solving the doubts and problems of students is a mandatory move. It gives the company an obvious and attractive marketing message and a clear reason for them to purchase the product and in this case, any course on Udemy.

    Try getting 5-star reviews

    Whenever a user plans to purchase something and makes a choice on which product to buy, he gets and checks all the data in detail about it. The most important thing every customer checks are the product reviews, their ratings and how well the product or its services suits him or her. The companies need to get better reviews by giving customer satisfaction for maintaining the image which will help grow the business in turn.

    Choose the Right Keywords and Topics

    Marketing in any business is all about hitting on the right nerve of the consumer’s demands and leaving an impact on them whenever the product or service is advertised on any platform. The marketing team needs to use appropriate keywords to get an organic search result from the consumer. The correct keywords will help the users to make a choice. The companies need to make sure the topic is in demand and frequently searched.

    Following up on Customers

    Following and engaging constantly with customers, in this case, students is all about building relationships with them. This method will make them more comfortable to talk to and have a positive feeling about the company.

    Free content to generate leads

    Even if a particular product is paid content, free content can go further. Udemy, being an education technology company that offers a variety of online courses on the consumer’s plate has recently seen an 800% growth in traffic after which they lowered down on their content marketing efforts as generating leads through free content helps. The offering of free blog content is an amazing lead generation tool for paid content.

    Conclusion

    All-time learning at ease is crucial to maintain a position in the world and also for personal growth. The necessary formal coaching is often unavailable or too costly to deliver the education that benefits students in their professions. Udemy is likely to maintain its lead in the online video instruction industry and marketing strongly for its tutors and learners.

    Frequently Asked Questions

    What is the cost of the Team plan?

    The Team plan costs $360 (USD) per user per year. To get this plan you need a minimum of 5 users.

    How does Udemy make money?

    Udemy makes money per course sales. The revenue generation through per course sales depends on how the user purchases course. The percentage varies from 3 to 50 % per course sell. Also, Udemy has plans for businesses, it includes access to top Udemy courses, learning path, custom categories, and no language barrier.

    The best strategy for Udemy

    Understand customers and their problems. Try to solve these problems through your courses. Get good reviews and keep your customer engaged.