It might be surprising to know that India is the world’s largest growing industry of fintech companies. Fintech the short form for financial technologies and FinTech companies are those companies that sell technologies and services related to financial transactions.
With the world shrinking to one’s fingertips and everything from education to business shifting to the online mode, there is absolutely no limit to the extent to which fintech companies are growing across the world and especially in India.
Most of the firms today are investing in or are planning to invest in financial technologies heavily. It is expected that by 2023 the global fintech market will be valued at over $305 billion.
The growth of fintech industries in India has been really humble. It started to gain momentum in the country only after the government initiated liberalisation of the banking industry and the incorporation of technology.
Slowly more funds were received by the banking sector for Financial innovation. The sector started to experience the ripple effects of the financial technology revolution in the US and UK in the 2000s.
This enabled the Indian banking industry to slowly begin by offering services that are consumer-centric. In the early 21st century FinoPay Tech and EKO India were two startups that were curated in the Banking Correspondent Model (BCM). And that was just the beginning only to witness the emergence of revolutionary fintech startups like Paytm, FreeCharge, Mobikwik et cetera from 2005 onwards.
Since then there have been no turning back for the industry with a plethora of companies mushrooming across different segments like lending, investments, personal finance management et cetera.
According to the reports by Boston consulting group (BCG) and FCCI India’s fintech companies are going to be valued thrice than what they are valued today within the next five years.
It is estimated that Indian fintech companies will reach a valuation of more than $160 billion by 2025.
The establishment of fintech companies and their growth have been phenomenal in the last five years than ever before. This dynamic industry has more than 2100 companies among which 67% of them were launched in the last five years alone. The biggest achievements of the industry do not stop there.
In the first seven months of 2020, fintech companies in India received total investments worth $1.47 billion which was 60% more than what it had been in 2019. Among the trends and new answers of the industry, online brokerage was gaining more popularity and thereby encouraged investors to buy more equities, mutual funds, ETFs et cetera.
All these lead to increased activity in the industry as a whole which resulted in huge investments in the industry like never before. It saw the emergence of three new unicorns companies and five new soonicons (Companies that have a valuation of $500 million or more) just from the beginning of January 2020.
There is a total of 21 unicorns in India and out of which one-third of the companies are fintech companies, which is not a surprise anymore. Among the unicorns Paytm is the highest valued one at $16 billion.
Multifaceted Support From the Government
Among the activities of the Indian finch industries, online payments have always been at the forefront. In 2018 digital payment crossed over 24 .13 billion in 2018. These transactions are valued at over $3.5 trillion.
One of the major reason for the tremendous growth of Fintech companies in India is because of various government policies that allow and facilitate people to get on to the digital platform for storing and transacting money.
The extensive use of Aadhaar has made verification easier and policies like PMJDY (Pradhan Mantri Jan Dhan Yojana) Â has pulled more people onto the digital platform than ever. The introduction of the Unified Payment Interface or UPI has also introduced a large amount of unbanked population in India into the digital financial services which have further boosted the growth of fintech companies.
Apart from that demonetisation has opened vast opportunities for fintech companies for better service provisions and thereby making customers comfortable within the technologies like AI, blockchain, IOT et cetera.
Reports say that the introduction of such industry 4.0 technologies into the industry gave a jump of nearly a hundred per cent from an earlier $1.8 billion valuation in 2018.
The Future of Fintech Industry in India
The fintech industry in India will continue to conquer greater heights as it has already started to partner with various banks. Using these collaborations and the nuances of consumer behaviour, Fintech companies are all set to further use technology to capitalise on better levels of trust among people.
In 2021 and from then on it is expected that hybrid banking will become more mainstream. The performance of fintech industries in India in the first seven months itself has proved this to be true. In an environment of hybrid banking, more financial institutions that operate offline will take on to virtual banking as well.
There are also various government initiatives that aim at establishing fintech hubs along with an allocation of Rs.15 billion to boost digital payments alone. All these will further strengthen and immunise the industry in the years to come. With the incorporation of newer technologies into the industry, it is expected that by 2025 there will be more than 30 billion connected devices ranging from thermostats to refrigerators to lightbulbs.
The breakthrough advent of cryptocurrency and blockchain technology is also expected to be a game-changer in the industry, especially regarding money transactions, consumer payments et cetera. However, it will be completely dependent on the stand of the Indian government.
FAQ
How many Fintech companies are there in India?
At present there are more than 2,000 fintech companies in India.
When did the FinTech sector rise in India?
In 2015, the Indian fintech sector saw the emergence of numerous fintech startups, incubators, and investments from public and private investors.
How big is the fintech market in India?
The Indian Fintech market is currently valued at $31 billion and is expected to grow to $84 billion by 2025, at a CAGR of 22%.
With an aim to build a retail tech platform exclusively for SME retailers, Mr. Rajesh Subramanian started Ghoshak. In this article, Mr. Rajesh shares his insight on the Hiring culture of a bootstrapped startup. He shares his experience & the challenges he faced while hiring the right talent, accordingly, he insightfully suggested measures, tips/advice on what Bootstrapped Startups can follow to hire right!
Before moving ahead, let’s get a background on the speaker. Rajesh Subramanian, Founder, Ghoshak, has previously worked for Amazon and SAP. He has built several teams at Amazon from scratch and took more than 1000+ interviews. Ghoshak is an All in one Business App. From generating bills to inventory management, Ghoshak brings all your business operations in one place.
Let’s see what Mr. Rajesh Subramanian (Founder, Ghoshak) has got to say on GAME OF HIRING for Bootstrapped Startups-
Remember the day when there was sudden lightning that struck through your mind and there, you had the idea for your startup. It is amazing to see so many innovative ideas coming to life every day. As a startup founder myself and going through every step of the journey, coming up with that one strikethrough idea, finding partners, setting up the place of business, getting yourself registered to make your first sale is an experience and learning for life. One aspect of a startup business, especially bootstrapped, that challenged me was hiring and coaching the right talent. The general notion attached with bootstrapped startups is getting the funding and finding the investors. If your idea caters to the demands of society and you believe in yourself, then you will easily attract people who will believe in it too. But getting people to work for you or with you is a different ball game.
When you are solving the puzzle, you make sure that every part fits right. Anyone can work for you, but not everyone can work with you. When I was hiring, the CGPA and educational qualification were not my focus area. Instead, I looked for a personâs ability to solve problems and how intelligently they could navigate through ambiguous situations.
I took 120+ interviews before I hired my first two engineers, and I can proudly say that they are my top performers to date. It’s not just identifying the talent but also the effort you spend in training and coaching them. Appreciate the strength they bring in and support them to work on the areas that need polishing. I am building an organizational culture where we refer to an individualâs shortfall as areas of improvement instead of weakness. Everyone has a scope of improvement, including me, therefore, learning should never stop. I want to create an environment where our employees can be vocal about their weak points and are ready to work on them.
When you are laying the foundation of your business, it is wise to hire strategically. Especially when you are bootstrapped and have to allocate funds in a calculative manner.
A timeline can help a lot, and here is the one that I followed:
6 months – Lay the foundation with partners.
1st year – Have the core team members, Tech & Sales team to build the product and Finance team to regulate the money flow.
2nd year – Now you need the support, get your HR, Marketing & Design team to accelerate the growth.
Money v/s Belief
The truth is that a bootstrapped startup cannot pay as much compared to a funded startup. So how do you work your charm? Let your product or service do the talking. What you are putting out there is so convincing, and it helps society then hire people who believe in making a change too and can look at the bigger picture. History is proof that what started in a garage is a world-dominating mobile & computer giant today.
Gone are the days of Job Descriptions; this is an era of Opportunities
By posting a job opening, you may get a pool of CVs. Apart from the right skillset, one must gauge a personâs attitude and determination towards life. If a person is not ambitious from within, then no external push can work the magic. As a startup employer, the responsibility relies greatly on us, and I always try to set their expectations right. The definition of startup to many is a funky office, high pay, and great perks; while you may offer all that but when you are starting from scratch there will be possible ups & downs, restrategizing, and everyday hustle. One has to be a jack of all trades and not necessarily the master of one, which is the reality. In a bootstrapped startup ecosystem, we ideate, implement things, learn from them and grow together.
65% of business failures are due to management issues that can be avoided by hiring the right mindset, skill, and training. In the end, itâs all about the culture you build. If the foundation is strong, then the structure will always remain strong.
When it comes to women’s requirements and products, POPxo has proven to have matchless potential. Dubbed as India’s largest digital community for women, POPxo was built as a platform for women to read, contemplate, hang out and shop.
POPxo is famous for creating content based on women’s interests and requirements. The brand mainly focuses on four subject verticals: Fashion, Wedding, Lifestyle, and Beauty. POPxo has built a robust image in the eyes of its customers which has resulted in 39 million active users every month.
The platform provides remarkable and promising product deals and customer services. And the most incredible part is, its application isn’t limited to a few pieces of software. It is available on all kinds of software including Android, iOS, desktop, Google Chrome, and other mobile webs.
POPxo has a very engaging presence in the market as well as on social media platforms. Around 80% of its users are women who spend over 3 million hours on POPxo, every month.
Moreover, POPxo’s digital content gets more than 200 million engagements every month. With such remarkable popularity, POPxo has partnered with over 250 brands for developing and promoting sponsored content with POPxo audiences. POPxo content verticals are available in six distinct languages – Bangla, Hindi, English, Marathi, Tamil, and Telugu. This is expected to bring more customer presence throughout India. In this article, we will be discussing the marketing and business model of POPxo briefly. Let’s get started!
POPxo is one of its kind when it comes to its beauty brands. POPxo was founded in 2015 by Priyanka Gill who is also the CEO of the company. This digital platform is a place for women’s needs and their issues.
POPxo aims for becoming one of the leading renowned digital platforms by the women, for the women, and to the women. The company is very successful with around 39 million customers. POPxo also supports empowering women and brings out the issues women are facing.
POPxo has earned an immense popularity mostly through social media platforms. Recently, the company has modified its ideas and planning and shifted towards a unique style and marketing strategies.
POPxo is divided into many categories of products and content verticals such as Fashion and beauty. It prioritizes women’s needs and provides content and products based on them.
Where does POPxo operate?
As being a digital community platform, POPxo operates on a vast level. Its services are meant for everyone across the country. However, its headquarter is established in New Delhi, India.
Key Products and Services offered by POPxo
POPxo store
POPxo offers tons of products, especially for millennial women in all feasible categories. Its products are exclusive and entirely natural, from non-toxic ingredients, organic and cruelty-free. POPxo provides the best collection of beauty and skincare products.
With its exclusive beauty products, the company focuses on community content.
POPxo mainly targets women between the age group of 18-35. The millennial women are the best and the most beneficial customer group for the company. It connects women through fashion, relationships, lifestyle, and entertainment.
Business Model of POPxo
The business model of POPxo is incredibly strong and beneficial. The marketing plans and strategies are progressive and rationalize its digital values. POPxo concentrates on the social media platforms that bring in the most customer engagement and audience for the company.
POPxo puts out itself in a very effective and innovative manner in the market. It hires influencers and experts to promote the company’s services and products through video content. These digital influencers look for ways to outline the company’s presence effectively in the minds of the audiences. POPxo always looks for more creative as well as distinct ways of marketing.
Recently, POPxo has launched its collection of Beauty boxes in partnership with My Envy Box as a new subscription package deal for the company.
POPxo Beauty Box
Alongside, as the company has put forward its magazine plans, now the company has officially launched its POPxo digital magazine.
POPxo Magazine
The content related to any brand brings the most revenue to the company. POPxo works with more than 250 brands across the country and promotes and distributes its products through its immense popularity and customers base. Moreover, the company has launched its first-ever store where it sells fancy and adorable bags, stationeries, clocks, and accessories.
Conclusion
POPxo is considered the largest digital platform in India with over 39 Â million active users. POPxo is a brand that holds a very bold and distinct presence in the market and on other browsing platforms. Its contents are available in many languages to provide the convenience of reading and understanding for the customers.
The business strategies of POPxo are absolutely remarkable and expanded through a vast network. Its strategies are based on mentioning the audience for their support on every step of POPxo’s journey. Through this, the company gets more personalized strengths and customer engagement.
FAQ
Who is the founder of POPxo?
Priyanka Gill is the founder and CEO of POPxo.
How does POPxo make money?
POPxo earns from its magazine as well as from its branded content.
What is the revenue of POPxo?
The operating revenue of POPxo was Rs 12.08 crore in FY19.
The corporate sector often requires major backing from banks. Private banks have always been front in targeting the blue-chip manufacturing companies in the entire Indian corporate sector. These also target small or mid-sized corporate companies and agricultural businesses.
Private banks offer tons of transactional and banking services such as trade services, cash management, working capital finance, and transactions services. Banks facilitate the structural organization management for cash services where it gets combined with the merchant and the distributor for the smooth working supply chain management, wholly for the corporate customers.
ââPrivate Banks such as HDFC bank have been very upfront in providing the services of cash management and transactional banking system for the corporate customers, stock exchange members, mutual funds and banks. HDFC Bank is India’s largest private sector bank and has always been very promising. In this article, we have discussed the remarkable business model of HDFC bank and how the bank operates. Let’s get started!
ââHDFC bank is a very promising and secured Indian private banking and financial services company. The company is known as the largest private sector bank by marketing capitalization and assets in India. HDFC Bank was established in 1994, headquartered in Mumbai, Maharashtra, India.
As of 2021, HDFC bank is stated as the third-largest company based on market capitalization in the Indian Stock Exchange market. HDFC bank employs around 120,000 employees in its bank and its branches, this employees count is the thirteenth-largest in India.
ââWith the chairman Atanu Chakroborty and Sashidhar Jagdishan as the chairman, HDFC bank has grown immensely. HDFC Bank was established as the subsidiary of the Housing Development Finance Corporation. The bank is very promising and satisfactory with its services and has a huge customer base across India.
ââWhere are the branches of HDFC Bank established?
ââHDFC Bank is the first-ever private bank in India to obtain approval from the Reserve Bank of India (RBI). HDFC Bank has grown its network vibrantly and has gained a huge customers base throughout the country. Today, HDFC Bank has established a banking network of over 5608 branches along with 14,897 ATMs in more than 2902 cities and towns.
Product and Services offered by HDFC Bank
ââHDFC Bank has always been very promising and satisfactory to its customers. Its top services are retail banking, auto loans, wholesale banking, two-wheeler loans, treasury, consumer durable loan, personal loans, loans against property, credit cards, and lifestyle loans. Moreover, HDFC Bank also offers various digital products including SmartBUY and Payzapp.
Business Model of HDFC Bank
ââHDFC Bank, the leading finance company in India has always been guaranteeing and fulfilling its services. The company has a very strong foothold in the market as a finance company. Following the lead, the Industrial Credit and Investment Corporation of India (ICICI) is known to be the second-largest bank in the country.
ââHDFC Bank has been revolutionary with its terms of deposits and loan disbursements, which keeps it at the top of the Finance sector market. HDFC Bank runs on a very subtle business model plan where it generates universal banking-based synergies by cross-selling the bank’s products to its subsidiaries across India, without actually incorporating any commodity.
HDFC Bank has gained a huge customer base and enormous finance handling. With its current business model, the bank is up for dozens of more achievements and has become the first-ever most reliable, and exclusive private bank in India, with great customer support.
Deposits of HDFC Bank Limited
How does HDFC Bank operate?
ââBanks are considered the safest house for people to conserve their money and funds. With the growing technology, private banks are putting everything in their power to provide the best services to their customers and gain their loyalty.
HDFC Bank operates through various segments such as:
Retail Banking
The bank offers an assorted range of finance products and services to its customers via a developing HDFC branch or its ATM or through various digital channels including Phone Banking, Netbanking, and MobileBanking.
Treasury
Through the Treasury services, the Bank guides businesses in generating great outcomes on their funding and financial management risk. Treasury includes the product services of the local currency market and debt securities, foreign derivatives and exchange, and capitals.
Wholesale Banking
The bank offers a broad gamut of transactional and commercial banking services to various businesses and organizations regardless of their size. These services are trade services, cash management, working capital finance, and transactional services.
Conclusionââ
HDFC Bank has provided tons of promising services to its customers. Being a private bank, the company has earned absolute trust from its customers and gained a huge customer base throughout the country.
The bank engages with various financial and banking services such as Treasury operations and commercial banking. HDFC Bank facilitates the banking services of various upper and middle-income people and organizations across India. The bank has a very strong position in the market and is considered the most reliable and reasonable private bank in India, later followed by ICICI bank.
HDFC bank follows a pretty bold as well as a subtle business model which has brought tremendous growth and development to the bank and its services.
FAQ
What is the revenue of HDFC Bank?
The revenue of HDFC Bank is 1.56 lakh crores INR in 2020.
Who is the CEO of HDFC Bank?
Sashidhar Jagdishan is the current CEO of HDFC Bank.
Mr. Ravi Gupta is the Founder & CEO of SafexPay having more than 10years of experience in Payment Gateway, Digital wallet, Acquiring & E-commerce industry. SafexPay is an industry leader in payment gateway solutions, white-label payment gateways, white-label Neo-banking Platform, white-label QR Code management tool, Payout API, and Customized payment Solutions.
Here’s what Mr. Ravi has got to say on How to Choose the Right Payment Gateway Provider –
If you’re fixing a web store, one of the foremost important belongings you are going to be trying to find maybe a payment partner. With the proper payment gateway, your customers are going to be ready to pay with no hesitation on your website. But how do you identify the right payment gateway partner?
With the market crammed with many partners, it’ll be difficult to settle on the proper one. In order to choose the correct one, you should do some R&D and consider the below-given points.
9 Factors to Consider While Choosing Payment Gateway Provider
1.Look into location and incorporation details
Most of the time, your payment gateway should be from the same country or location. The significance is also true.
2. Whatâs the pricing and fees?
Another important step is to understand the fee structure of the corporate. Many of the businesses fall into an equivalent fee structure with a touch variation. Never get lost in the offers of lower fees or discounts, as these could be a catch to attract clients. Ensure that your payment gateway offers a transparent fee structure without any hike.
3. Whatâs the technology?
Choose a payment partner that’s supported by robust technology. Keep in mind that it shouldn’t only give simple, user-friendly solutions but also protect all transactions from fraud. Payment gateway should also be secure enough to protect your customer data and must have a low processing fee.
4. How good is the support?
Working in an international market involves a lot of risks and issues that can be not good for your business. Hence support is an important factor to be considered and the partner should fix the problems instantly when you face them. The support should be easy, simple, and with no delay and waiting.
Ensure that your payment partner accepts worldwide payments. If you want to grow your business on an international level and get global customers in the future, then you should go with a payment partner which accepts international payments.
6. What are the safety and security features?
A very critical need is to make sure the security and security of your consumers, once they do a web transaction. The majority of the fraud happens when payments are made online. There are many ways and layers of protection and you should ensure that your partner follows the highest level of safety features in order to avoid fraud. Here’s a list of Top 10 Cybersecurity Companies in India.
7. Regular payments
Many payment gateway providers have different policies of payments and settlements. You should make sure that your partner provides a short-term payment and settlement process and you shouldnât wait too long. Ensure that the value of the transfer and costs charged isnât high. Check on the wire transfer fee by your partners as some charge a low fee while some ask for a higher fee. Keep the rolling reserves to a minimum.
8. Does it allow invoicing
Go for a payment partner which offers a built-in invoice service. It will make it easier to create instant invoices for the customers and also helps you rely only on one platform.
Ensure your payment partner offers you an in-depth report. Once the business begins, you’d want to review the transaction details and other charges applied while using the gateway. Try to accompany a gateway that gives a far better user experience.
There wonât be a âperfect payment gatewayâ that fulfills every business. But ensure you go that extra mile in order to get the right partner as a bad choice will cost you lose your money as well as your customers.
The perception of your company among the customers is one of the most important things determining the firm’s integrity and values. In such a scenario, the reachability of a bad review can be manifold when compared to positive reviews. It is widely known among entrepreneurs that while a happy customer talks about your company to 3 people, a disappointed one can talk about it to at least 15 people.
With the platforms of sharing reviews going online, these numbers now extend over hundreds of millions. Hence it is crucial to address negative reviews in an appropriate manner to ensure that they don’t hamper your organisation’s image in any way.
An appropriate handling of negative reviews can compensate for the damage that is inflicted by a negative review. Here are a few things that you should keep in mind and practice while responding to negative customer reviews.
In the case of many reviews, you may feel that the customer is being unreasonable and unaware of the reality. No matter what the issue is, it is important that you begin by apologising for the difficulties that the customer faced for the sake of your future customers.
You can start your response by stating that âwe are extremely sorry that we didn’t reach up to your expectationsâ, or âwe are so sorry to hear thatâ et cetera.
This is one of the most important parts of handling negative reviews. No matter what their concerns are, acknowledge their issue and empathise with them. Let them know that you are with them. This will give the person who wrote the review and the customers who will read the reviews in future a deep sense of confidence in you.
You can use sentences like âWe understand how bad you must have feltâ etc.
In most of the cases acknowledging and apologising for the unpleasant experiences of the customer is not enough. It is important to assure them that you are working on the issue and are sure that the issue will not happen again.
While you make this promise to the customer, ensure that you are doing the needful to practice what you promise. Such an assurance aids not only the customer but also ensure the improvement of the firm. It will also help you look into the issues that you would never have gone through, like the behaviour of the staff, delays in shipment, discrepancies in packaging et cetera.
You can tell the person something like this âWe have contacted the store manager to look into the issueâ, âWe have asked for a detailed investigation on the issueâ and so on.
Compensate Appropriately
You should be able to analyse the issues of the customer and offer them deserving compensation. This compensation is also a form of asking the customer for a second chance.
While such a favour or a return gift can give you a good image, it is also an excellent method to retain a disappointed customer. This compensation can be in the form of a refund, replacement, discount, free shipping, et cetera, depending on the nature of your business. You only need to offer such compensation if the issue is not fixable.
You cannot help a person whose problem is not related to their experience but themselves. If somebody has decided to hate your firm you cannot do anything about it.
You must be able to identify such cases and let them be. If necessary, you may acknowledge or even apologise for it without even bothering any further action. This is an essential yet difficult thing to do. Always remember that the most important thing is to focus on positive reviews and improve with the negative ones.
Conclusion
Customers are the most important component that drives your business forward. Their experiences should be of utmost importance to you, and hence the firm should continue to work on enhancing the experiences of valuable customers. It will also be beneficial if you have multiple customer satisfaction metrics which you can use depending on the issues of the people.
After you acknowledge, address and solve the issue, you may even ask the person who put up the review to take them down. Always remember that gracefulness and empathy are the most important tools you have to use while handling negative reviews.
FAQ
Should you respond to negative Google reviews?
Yes, you should respond to negative reviews publicly as it shows your customers that you are attentive.
Can you review on Google anonymously?
No, Google does not allow to review anonymously.
Does Google remove negative reviews?
Google only removes reviews that violates its policy.
Mobile Industry took its turn during early 1997 when the first GSM sim was introduced in the market. Because of GSM sim cards, it was easier to connect with people in remote areas at a cheap cost. People started buying mobile phones which turned out to be a great success for the mobile industry.
According to research, 1.38 billion mobile phones were sold worldwide every year. The industry took a pace after companies launching new smartphones which were multi-functional in their use. Presently the youth is too attracted towards new technology ensuring that they are as updated as possible.
But the major turning point for this industry was the year 2020 in the whole last decade. Here is why the mobile industry is booming every year and especially in 2020:
5G is the 5th generation mobile network introduced in the world to set a new global wireless standard. The wireless technology is meant to deliver hi-speed GBPS data, increased availability of the network, and a uniform experience to its users.
This speed is achieved by using higher frequency radio waves in addition to low and medium band frequencies used in the 4G Network (the 4th generation network).
The latest smartphones in our mobile industry are launched with 5G band compatibility which helps to increase the speed of network and internet and also makes the work easier. The next target to achieve better growth in technology is by speeding up which is possible by 5G connectivity.
COVID-19
2020 is the year where most effects of the coronavirus pandemic were seen. A worldwide lockdown was going on and physical connectivity was lost, the only way to carry out the routine activities and tasks was through the help of the internet and mobile phones.
Schools and offices were working on their systems virtually. The mobile industry got the benefit as everyone required a smartphone to carry out their routine activities and scheduled things through the medium of applications present in the smartphone.
Also, the government was supporting the virtual method as there was a huge rise in the number of Covid patients and helped many people by providing them with smartphones and gadgets at very reasonable costs.
Mobile manufacturers started focusing on budget smartphones that can be easily purchased by a middle-class person. Mobile companies covered all the losses they had incurred and made huge profits.
Banking Sector
One in every four people uses mobile banking services all over the world. Mobile banking provides the convenience and quickness of completing financial transactions via mobile applications and websites which is very feasible for their customers. Thus, banks are convincing their customers to shift to mobile banking which is directly beneficial to the mobile industry as it increases the usage of smartphones.
Also, many people prefer to keep two separate mobile phones, one for personal use and another one for business, financial, and banking purposes to avoid mobile fraud or any hack.
A survey was done on mobile banking trends which tells that thereâs a growth of 38% in the year 2020 when compared to 2019. The banking sector in collaboration with the mobile industry can achieve much more progress in the future.
Number of Phone users in millions
Digital Advertisement Growth
Looking at the growth in smartphone usage and the drastic shift towards digitalization, many companies are now considering mobile advertisement. These companies advertise through text ads or via SMS or through banner advertisements that appear embedded on a mobile website.
Mobile Ads
Mobile marketing is easy to access and a very cost-effective way of marketing. Mobile media has begun to draw more significant attention from the media advertising industry since the mid-2000s, based on a view that mobile media was to change the way advertisements were made.
Today the techniques have shifted completely and the strategies used are far more advanced. The effect of digital advertisement directly comes to the sales of the mobile industry providing digital content to the audience.
E-Commerce
E-Commerce started in 1979 with limited resources, but gradually increased and is now in 2020 at it is at its peak. The rise of E-commerce websites has increased in the past year as the offline stores were closed and people were forced to shop their essential items, online stores through the medium of mobile apps and websites.
People started looking out for everything on their mobile phones and eventually now it has made people habitual to purchase goods online. This led to immense growth in the E-commerce sector.
Every year the E-commerce sector of India increases by around 28%. And because of the Covid-19 crisis, it has increased by 41% in the year 2020. The new platform for purchasing goods is convenient and helping the mobile industry to grow even at a faster pace.
IoT Devices
The future is based on technology. With this mindset, software companies are focusing on mobile-based IoT devices. IoT devices are computing devices that are connected wirelessly to a network and can transmit data to many devices.
The connected car technologies and smartwatches are a perfect example of the IoT devices which are connected to the mobile device to show information and transmit data to perform a set of operations commanded by a person. These devices will bring in the new future of the mobile industry.
Conclusion
Mobile Industry has seen many changes in the year 2020 and can see many more by the major players like Samsung, Apple, and Oneplus which consistently bring updates to their technology and reforms to meet the increased expectations of the consumers. Mobile phones will be taking over the future for sure with the rapid growth in the industry as well.
FAQ
What is the value of smartphone industry
The smartphones market is valued at USD 714.96 billion in 2020.
Is the smartphone industry competitive?
Yes, the smartphone industry is a very competitive industry as it is one of the fastest growing industries in the world.
Who has the most market share in smartphones?
Samsung has the most market share in smartphones in 2021.
Socialising and building relationships are innate characteristics of human beings and during the pandemic things have not been that easy in this regard. Dating apps have been a very important part of developing relationships and during the pandemic, they proved to be more helpful than ever.
According to various studies dating apps are one of the fastest-growing social start-ups in the world. It is forecasted that they will grow globally to reach $10,378 by 2025 from $6951 in 2019. This means that the growth is at a CAGR of 4.98%. The extensive use of dating apps especially in the US can be perceived from the stunning statistics which reveals that more than 54% of Americans have their relationship started through online dating apps or sites.
Among a plethora of dating app Tinder is the one that is leading the way for building new relationships. Â
Tinder is an app that lets you connect with people you haven’t met before. It shows you the profiles of people near you or people that share the same interest as you in Tinder. It is mainly a location-based dating app.
Tinder was also the first one in the industry to introduce the feature of swiping left and right to indicate dislike or like respectively. If both the people end up swiping right, it becomes a match that will let you chat and later meet the person if they feel so.
Tinder has been successful in stepping up its business since its launch in 2012. Today it has multiple revenue streams which not only keep the business afloat but also let it thrive.
The Uniqueness of the Idea
The very idea that Tinder proposed during its launch in 2012 was a novel one. Unlike the commonly heard ideas where two people who knew each other are connected through an app or a site, in Tinder strangers whom they have never met are connected through this platform.
They were able to address the issues of social and physical barriers that come in the way of forming new relationships or friendships. They carefully brought together people based on their commonalities. This unique selling proposition of Tinder enabled them to be a very known platform to such an extent that today the idea of a dating app is equated with the name Tinder.
Tinder launched its fully free application in 2013 and later changed its mode of operation in 2015 by shifting to a premium business model. From there Tinder started to branch out its features under different plans that suit the requirements of the users. All these plans added to Tinderâs revenue.
Freemium Model
Although this model was largely free it charged the users for using certain features like location change, unlimited swipes etc. Later they added these features into their new plan named Tinder Plus wherein they divided the whole thing into two different things. The first one was Tinder Plus which was revenue-generating and followed by Tinder Basic which primarily focused on network development.
Tinder plus
Tinder plus was a very attractive plan for its users which gave them everything that they wanted in a dating app. Some of the special features that were added to tinder plus were
Unlimited swipes
Multiple Superlikes per day
Facility to undo the last swipe
Single boost per month
In order to give further advantage to the tinder plus users, they limited the number of right swipes to the free and basic app users for a period of 12 hours. Tinder Plus is priced at around Rs.650 per month. It also depends on the age of the user.
Tinder Gold
As mentioned earlier Tinder took a huge step to put this dating app at a whole new level by further giving an extension to Tinder Plus and naming it as Tinder Gold.
Apart from all the features that Tinder Plus users get, Tinder Gold also has an additional ‘Likes You’ feature which helps you know the number of likes you have got and know the people who have liked you. This feature also lets you check the profile of people who already liked you which is in fact time-saving.
Tinder Gold
They have also added small features like the golden heart logo which indicates that the person you are viewing has liked your profile. Tinder Gold also comes at a price.
In India, it is valued at Rs.3000 per year. You may even get discounts of up to 50% at different locations. In the US depending on the age of the user Tinder Gold is priced between $14.99 to $82.99.
As the popularity of the dating app grew, many corporate found it as a very innovative and engaging way to market their products in the form of profiles through Tinder. Soon they started partnering with Tinder so as to have their profiles featured. Here, if the user swipes right on the profiles that are sponsored it lets them chat with them. This chatting feature is usually facilitated through the use of chatbots. This has become a very profitable revenue stream as far as Tinder was concerned because of the twin benefits it has both to the startup as well as for the company. The users find such forms of advertisement is less intriguing too.
Boost – To Improve Your Chances
It is a recent addition to Tinder which has significantly attracted new users. With a Boost the probability of a profile reaching more people increases by more than ten times. It makes the boosted profile one of the topmost in the area for 30 minutes. It not only increases the chances of more views but also assures thrice more matches. The standalone price of one boost is around $1.99 to 3.99 $
Tinder Boost
Conclusion
Through its unique engagement with the users and the authenticity of the activities happening within the platform, Tinder has become the favourite choice among people between the age of 18 and 29 with more than 14% of this age group using the same in the USA. It is indeed a dreamy number for its competitors. Its free and paid models have become popular amongst its users due to their ease of use and credibility.
The human mindâs tendency to always search for love and forge new relationships and friendships have a large incentive to the growth of as a whole. Considering the changing attitude towards dating, building relationships and live-in relationships; it can be expected that Tinder will continue to grow in an upward trajectory in the future as well.
The importance of finding opportunities and monetising the common things in a different way is the most important thing that we need to learn from the way Tinder functions.
FAQ
What is the annual revenue of Tinder?
The annual revenue of Tinder was 1.4 billion U.S. dollars in 2020.
The gamers often find it difficult to communicate and coordinate between their matches. But, ever since the foundation of the gamers’ exclusive communication platform in order to facilitate them in so-called servers. And that communication platform is Discord. The company is widely famous among gamers for its incredible and smooth features. Discord was founded in 2015 and its headquarter is established in San Francisco. Discord has grown very promptly and today, the company is counted among the most distinguished chat applications, at the global level.
ââWith the rising gaming technology, gamers are looking forward to various applications to make their gaming convenient and joyful. As Discord fulfills the requirements of gamers, they prefer it over any other application. With such fan loyalty, Discord has more than 100 million active users widened across 6.7 million servers. In this article, we will be discussing the success and business strategies followed by this very prominent chatting app, Discord. Let’s begin!
ââThe gamers face great difficulties in communicating and coordinating with their teammates during any match. There are few companies such as TeamSpeak and Skype that offer worthwhile chatting features but they don’t provide substandard call quality, many security issues, poor group chatting, and resource-heavy operations. This causes some major functionality issues for the gamers. And on that note, Discord is the company that facilitates all the requirements of the gamers.
ââWith Jason Citron as the CEO and Stanislav Vishnevskiy as the CTO of discords, works brilliantly towards the customers serving features and developing Discord which respects the passion of gamers. Discord is an absolutely free, secured, and high-quality texting gaming application. Moreover, Discord offers tons of free services for their customers without exhibiting any advertisements.
Top features of Discord
ââDiscord offers tons of customer-based services, especially for gamers. It runs with different segments including Nitro, server boosting, and others. These segments carry various verified features to boost its all-in-one video, voice, and texting. Some of the top features of Discord included Personal profile, Bigger uploads, Better Emoji collection, Support Server, and many others.
ââTarget Audience of Discord
ââDiscord majorly focuses on targeting the audience based on their building. Discord searches for groups and communities for gaming that are young, tech-savvy, and creative. The company acknowledges its customers and provides great customer service.
ââDiscord follows a subtle business model with a customer base of 87 million. Discord mobile application is completely free and secure. The company does not charge any extra money for future perspectives or its substantial features.
Discord entirely focuses on providing hassle-free communication applications for gamers. Discord puts great efforts into the voice chat integration service in the gaming sector. The company offers a free tool, named Gamebridge for the purpose of helping developers in the integration of the application for various games.
ââMoreover, the company offers tons of other features also including Streamkit and Rich Presence. These facilitate the free cost service where the gamers can list their matches and games in the Discord mobile application.
ââDiscord is widely famous among gamers, this provides great benefit for the company, in capitalizing on the networking effects which enhances the value by increasing the user’s counts. The current valuation of Discord is around $7 billion along with the recent investment worth $20 million.
What is Unique about Discord Business Model?
ââIn the initial days of Discord establishment in the market, the company entirely focused on improving its products in order to attract the audience as well as the entire gaming community, rather than optimizing its efforts towards the upliftment.
Discord did tremendous efforts into putting a distinguished position in the market, especially to the gaming community. As the audience got attracted towards its features, it brought continuous money to the company.
ââToday, the company has optimized its products and features and gained over 200 million users. Discord’s revenue sources are pretty strong and bring great deals for the company.
ââDiscord’s revenue sources are very uplifting. The company uses several monetization strategies to bring out profit. These are:
Discord Nitro
This is basically a paid game subscription package at the price of $9.99 per month or $99.99 per year. This subscription package is a spontaneous agenda for interested users in order to support the Discord application.
This package includes animated avatars on your profile, custom emojis, a personal Discord tag, a large upload limit of up to 50MB for an image, a specialized Nitro profile badge, and many more.
Merchandise Store
Discord has a specialized merchandise store where it sells branded hoodies, T-shirts, socks, etc. The company gets little revenue from each sale. Through this, the company promotes its application and lets the users contribute to the growth of the company.
Discord Merchandise
Game Store
Discord has its personalized game store at a global scale where the game developers sell their games. This allows numerous game developers to self-publish their game on its store and get a 90% share of total revenue. Discord charges a 10% share for distributing the games. This covers up all the operating costs of the company.
Discord Game Store
Funds and Investments
Many big companies invest in Discord. Through this, Discord optimizes its features from the prospect of International market growth. The company has raised around $280 million in its latest funding round and this has resulted in extending the company’s valuation worth $2.05 billion.
Conclusion
ââDiscord has brought great convenience and contribution to the gaming community. It provides the gamers with the facility of communicating and coordinating smoothly. Besides this, the company offers tons of other features and specialized programs. The gamers connect with the Discord application vibrantly and this brings great outcomes.
FAQ
Who is the CEO of Discord?
Jason Citron is the CEO of Discord.
What is the valuation of Discord?
The valuation of Discord is $7 billion as of 2020.
Did Microsoft buy Discord?
Microsoft has been intalks with Discord to acquire it for $10 billion.
The Olympic Games are known as the foremost athletic competition in the world. Over the years, The Olympics have allowed athletes to show off their strength and skills. With more than 200 countries participating the multisport event will bring people together with a competitive spirit. This universal sports event takes place every four years, alternating every two years with the Summer and Winter Olympic Games.
Since the modern Olympics from 1896, two countries are chosen to host the Summer and Winter games through bidding. Hosting the Olympics is a big thing for every country as they receive worldwide attention from the presentation period until the sports event gets over. This time around Tokyo, Japan was given the privilege to be the host for the XXXII Summer Olympiad in 2020.
However, because of the Covid 19 Pandemic across the world, the Tokyo 2020 Olympics was postponed to be held from 23rd July to 8th August 2021. Japan is said to have spent an estimated $26 billion to host the 2020 Summer Olympics, this includes an additional $2.7 billion that the country spent on the losses due to the postponement.
A total of 11,500 athletes from 205 countries are expected to be competing, with the attendance of 79,000 overseas officials, journalists, and support staff for the 2020 Summer Olympics. The games will consist of 339 events in 33 different sports, which will be held in 42 venues across Japan. Four new sports are Karate, sports climbing, surfing, and skateboarding will be making their debuts at the 2020 Tokyo Olympics.
While games like Baseball and softball are part of the Olympics again for the first time since 2008. The tickets for the Olympics Opening Ceremony are estimated to cost between the range of $112 and $2,808, with over 4.5 million tickets being sold to Japanese residents. The Tokyo 2020 Olympics is also said to be the most sustainable Olympics as it has made many attempts to promote the recycling of waste.
For example, over 5000 medals were made of recycled mobile phones, while the podiums for the games were made from recycle plastic recovered from the oceans. The IOC (International Olympic Committee) is thought to make over 70% of its money from broadcasting rights and over 18% from sponsorship.
The IOC and the Olympics are funded by 4 main tiers of sponsors, which are the Worldwide Olympic Partners, Tokyo 2020 Olympic Gold Partners, Tokyo 2020 Olympic Official Partners, and Tokyo 2020 Olympic Official Supporters. Besides that, every participating country has its own sponsors and athletes also sign separate deals for themselves.
There are 14 Worldwide Olympic Partners that are locked into multi-year contracts, while the other lower-level sponsors are usually companies based in the host country which is Japan this time. Being a sponsor to the Olympics brings about a huge advantage in terms of marketing for these big companies.
The 14 main worldwide partners of Olympics (Coca-Cola, Airbnb, Alibaba, Atos, Bridgestone, Dow, GE, Intel, Omega, Panasonic, Procter and Gamble, Visa, Samsung, and Toyota) get their entire product categories to themselves. These companies usually take their products and staff to the Olympics and also launch massive multimedia marketing campaigns using the famous Olympic logo.
Depending on which of the four tiers the companies are in sponsoring in they will be allowed to use Tokyo 2020’s Olympic and Paralympic designations and imagery, including emblems, mascots, and slogans. According to media sources, The IOC had arranged over $2 billion from global sponsors for this quadrennium (four-year package for partnering), with the addition of $3.3 billion or so from the nearly 70 Japanese domestic sponsors.
Worldwide Olympic Partners
Coca- Cola
Coca-cola is a leading beverage company that manufactures carbonated soft drink that is sold in more than 200 countries and territories. According to Interbrandâs study on the âbest global brandâ, Coca-cola was ranked sixth most valuable brand in 2020. The beverage giant is known to sell over 1.8 billion company beverage servings each day.
Coca-Cola was the first commercial sponsor of the Olympic Games back in 1929 and has since then been an Olympic sponsor. The company has been the longest-standing partner of the Olympics and has sponsored every edition of the Olympic Games.
One of the most popular Coca-Cola x Olympic ad campaigns was in the Summer Olympics in Rio in 2016, where the company reached 500 million social media impressions for its #ThatsGold campaign.
Airbnb
Airbnb as in âAir Bed and Breakfastâ, is an American company that provides an online marketplace for lodging, homestays for vacation rentals, and other tourism activities.Airbnb has its headquarters in San Francisco, California, and is a platform that lets property owners rent out their spaces to travelers looking for a place to stay.
The company was started in 2007 and has since then grown to 4 million hosts who have travelers in their homes. The company first partnered with the Olympics in 2019 and has since then allocated over 440 million of the overall sponsorship to direct support for athletes. The Airbnb partnership with the IOC and the International Paralympic Committee (IPC) is said to last for nine years which will include five Olympic and Paralympics.
Alibaba
Alibaba is a Chinese multinational conglomerate that specializes in the industries such as e-commerce, internet, retail, and technology. The company provides services like electronic payment, shopping search engines is acclaimed for its cloud computing services, and is the fifth largest AI Company. According to Forbes, Alibaba is among the ten most valuable corporations and the 31st largest company in the world in 2020.
Alibaba became an Olympics Worldwide partner in 2017 and has since then helped the IOC in transforming the Olympic Games for the digital era. The company has so far, come up with a suite of Cloud-based and AI-powered solutions that have made the digital transformation for the Olympic Games in a way that benefits fans, spectators, athletes, venues, and organizers.
Atos is a global leader in Information Technology services and consulting with headquarters in Bezons, France. The company has an annual revenue of around $12 billion with over 110,000 employees in 73 countries worldwide. Atos specializes in sectors such as transactional services, unified communications, cloud, High-Performance Computing, and Digital Workplace, big data, and cybersecurity services.
Atos has been a part of the Olympic movement since 1989 and became its worldwide partner in 2001 and has since then supported every Olympic Games.
As the IT partner of the games, the role of the company is to ensure the Olympic Games are fully connected, secure, and digitally enabled. Over the years, Atos has continuously used its cloud-based platform in order to increase efficiency, reduce costs, and most importantly minimize the environmental footprint of the Olympics and Paralympics.
Bridgestone
Bridgestone is the worldâs largest tyres and rubber manufacturer with its headquarters in Tokyo, Japan. The company has over 144, 000 employees around the world and is available in 150 plus countries. Besides tyres, Bridgestone is also known to be an industry leader in a broad range of industrial products, building products and sporting goods.
As of 2018, the company has 181 production facilities in 24 countries. Bridgestone has been a worldwide partner to the Olympics in 2014, since then the company has provided its leading products and services such as tyres, automotive vehicle services, self-propelled bicycles, among others in support of the athletes and staging of the Olympic Games.
Dow
Dow is the third largest chemical producer in the world, with its headquarters in Michigan, US. The company operates in 113 manufacturing sites in 31 countries and has over 37,000 around the world. Dow specializes in producing Chemicals, raw materials, and compounds used across selected industries. The company became an Olympics worldwide partner in 2010.
The company has played an important part in improving the sustainability of the Olympic Games so far. The successful carbon mitigation programs implemented by the company and the Organizing Committees of the Olympic Winter Games Sochi in 2014 and the Olympic Games Rio in 2016, helped in mitigating harmful emissions and balancing the IOCâs footprint to create a positive carbon legacy worldwide.
GE or General Electric Company is an American conglomerate that is dedicated to innovating in the sectors of energy, health, transportation, aviation, power, renewable energy, digital industry, locomotives, finance, venture capital, and infrastructure. The company has its headquarters in New York, Boston and operates in over 100 countries with over 300,000 employees worldwide.
GE became an official Olympic worldwide partner in 2005. The company is known to closely work with the host countries for organizing committees that provide infrastructure solutions for Olympic venues including power, lighting, water treatment, and transportation. GE also supplies the host cities with diagnostic equipment and healthcare technology solutions that will help doctors treat athletes during the games.
Intel
Intel is another global leader in manufacturing essential products and technologies such as motherboard chipsets, integrated circuits, flash memory, graphics chips, embedded processors, among others. The company has its headquarters in Santa Clara, California, and has over 106,000 employees across its 600 facilities present in 63 countries.
Intel became the Olympics worldwide partner in 2017 and has since then played a vital role in advancing the Olympic Games experience for fans around the world with its innovative technology. The company has helped the games in the categories of 5G technology platforms, VR, 3D and AI platforms, sports performance platforms, drones, processors, and more.
Omega
Omega is a Swiss luxury watchmaker which has its headquarters in Bienne, Switzerland. Omega is a subsidiary of the Swiss Swatch Group. The company is known for its high precision and standard of precision and has a tradition of excellence in watchmaking.
This is why the company is the official timekeeper of the Olympic Games since 1932. The company is the worldwide Olympic partner up till the 2032 Olympic Games. Since 1932, Omega has served as the Official Timekeeper of the Olympic Games on 28 occasions.
Panasonic
Panasonic is a leading electronics company that has its headquarters in Osaka, Japan. The company offers a wide variety of services in categories of Audio, Television, Video equipment, including Car Navigation, and Multimedia Products. It manufactures products like rechargeable batteries, automotive and avionics systems, and industrial systems.
Panasonic has been a worldwide partner of Olympic since 1987. The company has so far provided the games with state-of-the-art digital audio and video equipment like a flat-screen TV, digital video camera, DVD recorder, and professional audio/video equipment. The company has been able to deliver the sights and sounds of the Olympics from the field to the spectators through its large on-site video screens and professional audio systems.
Procter & Gamble
Procter & Gamble also known as P&G is a multinational consumer goods company that has its headquarters based in Cincinnati, Ohio. The company offers a variety of different products such as personal health/consumer health, personal care, and hygiene products, beauty products, Grooming, Baby and family care products among others.
P&G has over 135,000 employees and is available in over 80 countries. Procter & Gamble has become a worldwide partner of Olympic in 2010, since then the company has helped the Olympics in the category of personal care and household products.
Samsung
Samsung is a Korean conglomerate with its headquarters in Samsung Town, Seoul. As of 2020, the company is known to have the 8th highest global brand value. It also is currently a leader in the industries of food processing, textiles, insurance, securities, and retail. Samsung is one of the top smartphone producers in the world. In 2016, the company shipped more than 306 million units of electronic gadgets worldwide.
The company has been a sponsor for the Olympics since the 1988 Seoul Olympics. Samsung has since then a meaningful connection through innovative technologies. For the last 30 years, Samsung has helped evolve the games in the categories of wireless communications equipment and computing equipment category.
Toyota
Toyota is one of the largest automobile manufacturers and had sold over 10 million vehicles in over170 countries. According to Forbes, Toyota is the 10th largest company in the world in terms of its gross revenue in 2019. The company has its headquarters in Aichi, Japan, and is known to have over 370,000 employees worldwide.
Toyota is the first-ever mobility worldwide partner for the Olympics in 2015. The company has helped the games in the sector of vehicles, mobility support robots, and mobility services. It also helps IOC in coming up with sustainable options for efficient mobility, intelligent transport systems, traffic systems, and vehicle-to-vehicle communications systems in host cities during the Olympics.
Visa
Visa is a world leader in digital payment and multinational financial service corporation that has its headquarters in Foster City, California. The company provides financial services like electronic fund transfer through credit cards, debit cards, and prepaid cards. Visa is one of the worldâs most valuable companies as it provides payments for more than 3.5 billion cardholders in over 200 countries worldwide.
Visa is a worldwide partner of the Olympics since 1986. The company has helped the games by enhancing the payment experience for fans and athletes present at the Olympic venues. The company has the exclusive category of payment services, transaction security, and prepaid cards. Visa has continuously provided the company with the most technologically advanced payment systems available including new payment options.
Asahi group holdings are one of the top Japanese companies that manufacture beer, spirits, soft drinks, and food. The company has its headquarters in Sumida, Tokyo, and has 37% of the market share making it the fourth largest beer brewer in Japan. Asahi has been the gold partner of the Olympics since 2009 as it supported the Japanese Olympic team and athletes aiming to qualify for the games.
Asics
Asics is a Japanese conglomerate that manufactures sports equipment for various different sports. The company is known for its running shoes that have been ranked high among the top performance footwear in the market. Asics will be supporting Tokyo 2020 Olympics by sponsoring sportswear for the Japan Olympic and Paralympic Team and making uniforms for the staff and volunteers.
Canon
Canon is one of the top manufacturers of cameras in the world, with its headquarters in Tokyo, Japan. The company also makes optical, imaging, and industrial products, such as lenses, medical equipment, scanners, printers, etc. The company will be providing services to the Tokyo 2020 Olympic Games with world-class services to sports journalists and photographers from all over the world for the sports event.
Eneos
Eneos Corporation also known as the Nippon Oil and Energy Corporation is a Japanese petroleum company. The company is the largest oil company in Japan and has recently been expanding its operations in other western countries. The company will support the Tokyo 2020 Olympics by supplying essential energy sources such as petroleum, gas, hydrogen, and electricity.
Tokio Marine & Nichido Fire Insurance
Commonly known as the Tokio Marine Nichido, the company is a property insurance subsidiary of Tokio Marine Holdings. With headquarters in Tokyo, Japan, it is also known to be thelargest non-mutual private insurance group in the country. The company will support the Tokyo 2020 Olympics by providing insurance, risk management, and offering insurance in their time of need.
Nissay is also known as Nippon Life Insurance is the largest Japanese life insurance company in terms of revenue. The company is said to be working together with the IOC and other stakeholders to utilize our national network to foster the movement throughout Japan especially during the Olympics.
NEC
NEC Corporation is one of the top IT and Electronic companies in Japan. With its headquarters in Tokyo, Japan, its IT and network solutions consists of Cloud computing, AI, IoT platform, and software. The company will be supporting the Tokyo 2020 Olympics with state-of-the-art public safety products and network products.
NTT
The Nippon Telegraph and Telephone Corporation is known as NTT is known to be ranked 55th in the Fortune Global 500. With headquarters in Tokyo, Japan, the company is the fourth-largest telecommunications company in the world according to its gross revenue. NTT has taken up the responsibility to provide information and communications technologies for the Tokyo 2020 Olympics.
Nomura
Nomura is a leading financial holding company in Japan. The company offers services of broker-dealer, banking, investment, financing, and other services to its customers. Nomura Holdings will support the Olympic and Paralympic Games Tokyo 2020 as the Gold Partner in the category of security.
Fujitsu is another IT and communications technology that has its headquarters in Tokyo, Japan. The company is the world’s fourth-largest IT service provider and has 132,138 plus employees in more than 180 countries. During the Tokyo 2020 Olympics, the company will help in connecting various ICT technologies and bringing about a safe, sound, and reliable sports event.
Mizuho
Mizuho is a Tokyo-based banking and holding company. Mizuhoâs combined holdings are known to form the third-largest financial service group in Japan. The company has taken up many initiatives to promote innovation in the financial sector and to revitalize the Japanese economy so that the country is ready to welcome people for the Tokyo 2020 Olympics.
SMBC
SMBC or Sumitomo Mitsui Banking Corporation Group is another Japanese banking and financial services company that will be sponsoring the Tokyo 2020 Olympics. The group operates in the sectors like retail, corporate, and investment banking segments worldwide.
Mitsui Fudosan
Mitsui Fudosan is a leading real estate developer in Japan and one of the subsidiaries of the Mitsui Group. Commenting on sponsoring the Olympics the coming said that, it will show the world the charms of Japan, by developing attractive cities fit to welcome people from around the world, as part of the Tokyo 2020 Olympics.
Meiji
Meiji Holdings Company is a Japanese holding company, which is currently the fourth largest confectionery company in the world. The company has supported athletes in many ways since 1964 when they first offered products to Olympic athletes.
Lixil
Lixil Group Corporation is one of the top manufacturers of building materials and housing equipment, The company will support Tokyo 2020 Olympics in the category of Building Components and Bathroom and Kitchen Fixtures which will be useful especially for the Olympic village.
Ajinomoto is a leader of a global company that specializes in the business of food and amino acids. The company produces seasonings, cooking oils, frozen foods, beverages, sweeteners including pharmaceuticals. The company is available in 36 countries and has over 34,504 employees around the world.
Earth Corporation
Earth Corporation was founded in 1892 and is a pioneer in the field of household insecticides in Japan. The company manufacturerâs pharmaceuticals and produces quasi-drugs, medical tools, and more. The company is also into importing and exporting services.
EF Education First
EF Education First was founded in 1965 as a global educational institute offering groundbreaking educational programs. Ef is one of the well-known international education companies that offer language learning, cultural exchange, and academic programs around the world. The company provides cultural and language learning programs in over 116 countries with over 52,000 employees worldwide.
Airweave
Airweave is a total sleep solution company that is sponsoring the Tokyo 2020 Olympics with special portable products customized for Olympic athletes. The company is known for its wide range of products such as bed frames, mattresses, pillows and cushions, comforters, bed linens, covers, pillowcases, and sheets. Airweave is looking forwards to delivering the most comfortable sleeping environment for competing athletes at the games.
Kikkoman
Kikkoman is a world leader in manufacturing soy sauce, it began its operation in 17 and currently produces over 400 million liters of soy sauce every year. The company is available in over 100 countries and also makes food seasoning and flavoring, mirin, shĆchĆ«, and sake, juice, and other beverages including pharmaceuticals.
KNT CT is an integrated travel company group that has contributed to the organization of numerous sports events that have taken place in Japan. KNT-CT will be supporting the Tokyo 2020 Olympics in the category of Travel agency services and national trip hospitality services. It will also be plan spectatorsâ tours that will bring the excitement of the Olympics to as many domestic customers.
JTB
JTB Corporation is another Tokyo-based travel agency that will be sponsoring the Tokyo 220 Olympics. The company is known to be one of the largest travel agencies in the world as it specializes in the tourism sector.
Cisco Systems GK
Cisco Systems GK is a Japanese subsidiary of the Cisco system which is a world leader in IT. The company was founded in 1992 and is now sponsoring the Tokyo 2020 Olympics in the sector of Network equipment.
Secom
Secom is one of the top security companies in Japan and a pioneer in the industry. Secom has a history of being involved in many national programs, large-scale projects, and the provision of security services at major facilities and has extensive expertise and experience in implementing security systems. The company will provide security and other services at the Olympic Village for the Tokyo 2020 Olympics.
ANA
ANA also known as All Nippon Airways is the largest airline in Japan in terms of its revenue and passengers. The company operates in both domestic and international destinations with more than 20,000 employees and 2.07 million passengers in 2010. The company will support the Tokyo 2020 Olympics in the category of Passenger Air Transportation Services.
Alsok was founded in 1965 and has operations in security for homes and buildings, and security for the secure transportation of physical cash for financial institutions. Alsok will be supporting the Tokyo 2020 Olympics with security and helping the athletes during the game.
DNP
DNP is also known as Dai Nippon Printing Co was established in 1876. It is a Japanese company known for its products and services in printing and information technology. The group has over the years expanded its business from magazines and books to the fields of packaging. The company will support the Tokyo 2020 Olympics in the category of Printing Services and will help the games with Games tickets, accreditation cards, and various communication materials.
Daiwa House
Daiwa House Industry is Japan’s largest homebuilder that specializes in prefabricated houses. The company has so far built factories, shopping centers, health care facilities, the management and operation of resort hotels, golf courses, and fitness clubs. It is also a well-known operator of freight logistics centers with more than 250 logistic companies.
Tokyo Gas
Tokyo Gas is the largest natural gas utility in Japan. The company has a history of more than 130 years and has so far constructed a network consisting of 60,000 km of pipelines that links more than 11 million customers in Tokyo. It is also the primary provider of natural gas in the main cities of Japan.
Tokyo Metro
Tokyo Metro is known to have an average daily ridership of 7.07 million passengers. It operates nine subway lines covering 195.1 km in central Tokyo seven of which offer through-services with lines operated by other railway companies. Tokyo Metro will support the Tokyo 2020 Olympics in the category of Passenger Rail Transportation Services.
Toto is a Japanese company that manufactures plumbing products, including ceramic sanitary ware, fittings for water faucets, bathtubs, and washbasins. The company is currently available in 18 countries and is known for its innovations in washrooms and toilets. The company will sponsor the Tokyo 2020 in the category of Bathroom and Kitchen Fixtures.
Tobu Top Tours
Tobu Top Tours Corporation is a Japanese travel agency with over 100 branches in japan and offices in London, Paris, New York, San Francisco, Los Angeles, Hawaii, Guam, Sydney, Gold Coast (Australia), Bangkok, Hong Kong, Shanghai, Beijing, and Singapore. The company will support the Tokyo 2020 Olympics in the category of travel and tourism.
Narita International Airport and Japan Airport Terminal Haneda
Narita International Airport is the secondary international airport in Japan, it is also the closest airport to cities like Narita, Kazaki, and Tomisato. The Haneda Airport is one of the two primary airports and the primary base of Japanese airlines like Japan Airlines, All Nippon Airways, Air Do, Skymark Airlines, Solaseed Air, and StarFlyer. Haneda was rated to be the 2nd Best Airport, World’s Cleanest, and Best Domestic Airport in the world by Skytrax.
Japan Post
Japan Post is among the top post, logistics, and Courier companies in Japan. It has its headquarters in Tokyo and is a subsidiary of Japan Post Holdings group.
Japan Airlines
Japan Airlines is the topmost Japanese airline with its headquarters in Tokyo, Japan. It operates in international and domestic passenger and cargo services to 220 destinations in 35 countries worldwide. The group is known to have a fleet of 279 aircraft.
Hisamitsu has been in the pharmaceutical industry since 1847 and is currently the leading pharmaceutical company in Japan. The company produces markets prescription, OTC products, and external pain-relieving products.
Mitsubishi Electric Corporation
Mitsubishi is a leading and pioneer electronics company with its headquarters in Tokyo, Japan. The company manufactures a wide variety of products such as include elevators and escalators, home appliances, automation systems for factories, train systems, electric motors, pumps, semiconductors, and satellites. It is the subsidiary of Mitsubishi which is a Major FMCG company.
Yamato
Yamato is one of the oldest transport companies in Japan with over 100 years of experience in the field. The company has over 4000 delivery points, 40,000 delivery vehicles, and 160,000 employees around the country. Yamato handles more than 1.6 billion packages every year.
Recruit
Recruit is a Japanese HR company that owns a search engine called Indeed. In 2016, the company had an overall sales of $17 billion with international sales contributing over 40% of the total revenue.
Manichi Shimbun and Asahi Shimbun
Mainichi Shimbun and Asahi Shimbun are two of the main national newspapers in Japan. Both the papers publish paperbacks, books, and other magazines, including weekly news magazines.
Aoki is a Japanese construction company that has constructed many buildings and hotels in Japan, Hong Kong, and Taiwan. The company will be sponsoring the Tokyo 2020 Olympics in the category of business and formal wear.
Aggreko
Aggreko is a world-leading provider of modular, mobile power, and heating and cooling. The company has a history of providing temporary electricity generators for global sporting events taking place in Japan. The company will also help the Tokyo 2020 Olympics in reducing greenhouse gas emissions and contribute to a sustainable society.
ECC
ECC is a company that provides educational activities since 1962. It also provides language training services and so will be the sponsor for the Tokyo 2020 Olympics in the category of Offline Language Training Services.
EY Japan
EY Japan is a  leading multidisciplinary professional services organization that aims on building a better working world for its clients and communities. The company will sponsor the Tokyo 2020 Olympics in the category of Professional Services which will include Audit, finance, tax and project management, and management consulting.
Google
Google Japan GK has sponsored the Tokyo 2020 Olympics in the category of Internet-based information and navigation services. Google is a multinational tech conglomerate that provides internet-related services and products. Yoshiro Mori the president of the Tokyo 2020 Olympics said that they are delighted to welcome Google, a company that provides various services including internet search, online maps, and language translation, as an official supporter.
Tanaka is a world leader in manufacturing bonding wire and catalysts for PEM fuel cells. The company was founded in 1885 and is a subsidiary of Tanaka Kikinzoku Group.
Shimiza Corporation
Shimiza Corporation is a Japanese firm that specializes in architecture, civil engineering, and general contracting. The company is known to have annual sales of $15 billion and is also called the top 5 contractors in Japan and among the top 20 worldwide.
Tobu Tower Skytree
The Tobu Tower Skytree is the company that operates the Tokyo Skytree, which is a popular tourist destination and the worldâs tallest freestanding tower, construction of which made full use of Japanâs most advanced building technologies. The tourist destination is located in Tokyo and many international and domestic tourists visit for the panorama of the city.
Technogym
Technogym is a Japanese company that manufactures and sells equipment and digital technologies for fitness, sport, and health. The company will sponsor the Tokyo 2020 Olympics in the category of Fitness Equipment. It will provide the games with numerous fitness and sports equipment for the athletes to practice.
Park24
Park24 is a Japanese multination corporation that operates 24-hour automated parking garages, monthly parking lots, and parking lot administration. It currently operates and manages more than 17,000 parking facilities in the country. The company is will sponsor the Tokyo 2020 Olympics in the category Parking Lot Services.
Pasona is a Japanese company that specializes in staffing services such as temporary staffing, recruiting, outplacement, and even outsourcing. The company has its headquarters in Tokyo and is the second-largest staffing company in Japan.
Marudai Food
Marudai Food is a Japanese food company that is known for manufacturing meat products and processed food product. The company will be providing the Tokyo 2020 Olympic with quality products such as Ham, Sausage, Bacon, Fish sausage, Kamaboko, Roasted pork, Sparerib, etc.
Yahoo! Japan Corporation
Yahoo! Japan Corporation is a Japanese internet company that was formed through a joint venture between the Japanese company Softbank and the American internet company Yahoo! The companyâs web portal is the most visited website in Japan, and its internet services are mostly dominant in Japan. In 2021, the company was merged with Line Corporation.
Sankei Shimbun and Hokkaido Shimbun
Both Sankei Shimbun and Hokkaido Shimbun are among the top daily newspaper in Japan. Sankei Shinbun is the sixth-highest circulated newspaper in the country, while Hokkaido Shimbun is only circulated in the Hokkaido district.
NBC also called the National Broadcasting company is an American English language broadcast television and radio network that is owned by Comcast. The company has its headquarters in Rockefella Plaza, New York City, has 200 affiliations, and has 13 owned and operated stations throughout the country.
Nike
Nike is a leader and the world’s largest supplier of athletic shoes and apparel. Besides footwear and apparel, the company also makes and markets equipment and accessories. In 2020, the company’s overall revenue was estimated to be $29.6 billion. Nike is also ranked 89th in the fortune 500 lists of American companies in terms of gross revenue.
Hershey Company
Hershey is one of the largest chocolate manufacturers in the world with its headquarters in Hershey, Pennsylvania. The company is known for its baked goods like cookies and cakes and beverages like flavored milkshakes.
Ralph Lauren
Ralph Lauren is a popular fashion house that is known for its mid-range and luxury clothing. Besides clothing, the company also makes apparel, home, accessories, and fragrances. The company was first started by the fashion designer Ralph Lauren in 1967 and currently has its headquarters in New York City.
Mobile Premier League popularly known as MPL is Indiaâs most popular & largest esports and mobile gaming platform. The company has so far made over 50 plus games which are available on both Apple and Android. It currently has more than 60 million users in India.
Herbalife Nutrition
Herbalife Nutrition is an upcoming company that manufactures and sells dietary supplements. The company has its headquarters in Los Angeles, California, and has over 8,900 employees worldwide. Herbalife Nutrition operates in over 94 countries and has more than 4.5 million distributors and members across the world.
JSW Group
JSW Group is a Mumbai-based multinational conglomerate that has a footprint in the industries of steel, energy, minerals, ports, infrastructure, and cement. The company is a subsidiary of OP Jindal Group and is in countries like India, America, South America, and Africa.
Adani Group
Adani Group is an Ahmedabad-based multinational conglomerate that was founded by Gautam Adani in 1988. The group has numerous businesses in the industries such as port management, electric power generation, renewable energy, mining, airport operations, natural gas, food processing, and infrastructure. The company is known to have annual revenue of $13 billion and is present in over 50 countries.
Speedo is a leading manufacturer of swimwear and swim-related accessories. The company has its headquarters in Nottingham, England. The company products used to be manufactured across Australia but not anymore. The company was brought by the Pentland Group for $170 million in 2020.
GoDaddy
GoDaddy is one of the best internet domain registrar and hosting company. The company has its headquarters based in Tempe, Arizona, and is currently also known for its advertising on TV and newspapers. As of 2020, GoDaddy has over 20 million customers and more than 7000 employees around the world.
Cadbury Australia
Cadbury is the second-largest confectionery brand in the world, as it is available in over 50 countries worldwide. Cadbury was brought by Mondelez International in 2010. The company has its headquarters in Uxbridge, London, and is known for its wide range of chocolate and dairy products.
Optus
Optus is a leading Australian company integrated communications that serves over 9.5 million customers every day. Optus is known for its services that include mobile, fixed, and IP telephony, business network services, fixed and wireless broadband, and satellite services.
Hanjin Travel agency is a subsidiary of the Hanjin group with experience of over 50 years in the industry. The Hajin Group is a Korean conglomerate that operates in air-land-sea transportation. There are 23 affiliated companies working under the group.
BBQ Chicken
BBQ Chicken started in 1995 and is currently the No. 1 food franchise brand in Korea. It has over 1000 outlets just in Korea and has also started the worldâs first and only Chicken University in 2000. The company is also among the top 100 brands in South Korea.
Hyundai
Hyundai is a leading automotive manufacturer with its headquarters in Seoul, South Korea. The company was initially founded in 1967 and is currently operates the world’s largest integrated automobile manufacturing facility Ulsan. Hyundai has over 75,000 employees in over 193 countries worldwide.
Russia
Sberbank
Sberbank is a Russian banking and financial services company that has its headquarters based in Moscow, Russia. According to The Bankers Top 1000 World Banks ranking, Sberbank is the largest bank in Russia, third-largest in Europe, and 60th in the world.
Gazprom
Gazprom is an energy corporation with its headquarters based in Saint Peterburg, Russia. As of 2019, the company had an overall sale of $120 billion in 2019 and is the largest publicly-listed natural gas company in the world. According to Forbes Global 2000, Gazprom was ranked as the 32nd -largest public company in the world.
Purplebricks is a UK-based online estate agent, which was founded in 2012 by Micheal Bruce and Kenny Bruce. The company is UKâs fastest-growing estate agency as it offers smarter, more convenient, and cost-effective ways to buy or sell.
National Lottery
The National Lottery was established in 1994 in the United Kingdom and is operated by Camelot Group. The National Lottery is and regulated by the Gambling Commission and around 53% goes to the prize fund while the other 25% goes towards good causes.
Aldi
Aldi is one of the topmost supermarket chains in Europe. It has over 10,000 stores in more than 20 countries worldwide. The company was originally started by Karl and Theo Albrecht in 1946 and currently has a turnover of $59 billion.
Frequently Asked Questions
How much does it cost to become an Olympic sponsor?
According to Quartz, sponsors currently pay up to $300 million per cycle or quadrennium which is a four-year package for partnering. Bridgestone and Panasonic are known to have paid $200 million to $250 million each to become global partners for four years. While Airbnb paid an estimated $500 million for an eight-year contract.
What impact does the Covid 19 pandemic have on sponsorship?
Because of the Covid 19 pandemic, the IOC has made a rule not allowing international fans to enter the city of the 2020 Olympic Games in Tokyo. Since the games were postponed, companies had to pay extra for sponsorship and this declined the value of sponsorship. Despite the tense economic situation, Japan’s domestic sponsors have also pledged their continued support for the Games.
What do sponsors get in return?
The sponsors and partners can use the Olympic logo of the rings the Olympic flame in their marketing activities. They can also use the designations and imagery, including emblems, mascots, and slogans depending on which tier of sponsors they are.
What is the four-tier of Olympic sponsorship?
The four tiers of Olympic sponsorship are the Worldwide Olympic Partners, Tokyo 2020 Olympic Gold Partners, Tokyo 2020 Olympic Official Partners, and Tokyo 2020 Olympic Official Supporters.
Who are the Worldwide Olympic Partners?
The Worldwide Olympic Partners are Coca-Cola, Airbnb, Alibaba, Atos, Bridgestone, Dow, GE, Intel, Omega, Panasonic, Procter & Gamble, Samsung, Toyota, and Visa.
Who are the Tokyo 2020 Olympic Official Partners?
The Tokyo 2020 Olympic Official Partners are Ajinomoto, Earth Corporation, Education First, Airweave, Kikkoman, KNT, JTB, Cisco, Secom, ANA, Alsok, DNP, Daiwa House, Tokyo Gas, Tokyo Metro, Toto, Tobu Top Tours, Toppan Narita Airport, Japan Post, Japan Airport Terminal Haneda, Japan Airlines, Hisamitsu, Mitsubishi Electric, Yamato, Recruit Holdings, The Japan News, The Asahi Shimbun, and Mainichi.
Who are the Tokyo 2020 Olympic Official Supporters?
The Tokyo 2020 Olympic Official Supporters are Aoki, Aggreko, ECC, EY Japan, Kadokawa, Google, Kokuyo, Shimizu Corporation, Tanaka Holdings, Technogym, Tobu Tower Skytree, Nomura, Park24, Pasona Group, Marudai Food, Morisawa, Yahoo Japan Corporation, The Sankei Shimbun, and The Hokkaido Shimbun Press.
When are the Tokyo 2020 Olympics taking place?
The Tokyo 2020 Olympics was postponed to be held from 23rd July to 8th August 2021.
Yash Gupta
