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  • How are Fireside Ventures Changing the Indian Startup Ecosystem?

    The world of the startup ecosystem is incomplete without the ventures that act as the support system for the entrepreneurs. Venture Capital firms are the only ones who are helping the Indian startups to grow. Now, as more and more entrepreneurs come up with their ideas that do tend to revolutionize a particular sector, it is high time that these companies acquire the credits and recognition they deserve.

    Amongst the venture capitals, one of the most impactful Venture Capital is Fireside Ventures. This Venture Capital has been taking giant strides in the world of the startup ecosystem and hopefully, will lead it to the path of betterment! Let’s have a sneak-peek into the story of Fireside Ventures and see How Fireside Ventures Changing the Indian Startup Ecosystem?

    Quick Facts – Fireside Ventures

    Company Name Fireside Ventures
    Headquarter Bengaluru, India
    Sector Finance
    Founders Vinay Singh, Kannan Sitaram
    Founded 2017
    Net Worth INR 10,700 million

    The Story of Fireside Ventures

    Almost about two years ago, Fireside Ventures had closed its first fund with an initial corpus of INR 340 crore and started investing exclusively in young Indian consumer brand startups. Well, for the founder Kanwal Singh, this is a way to back those ventures that will take the Indian narrative to the world. Now, as Indian startups have been performing exceedingly well in the big stage, somehow, the credit goes to these Venture Capital firms who has been working tirelessly to ensure that the startups does not face the issues that the companies had to face in the late twentieth century.

    Fireside Ventures Changing the Indian Startup Ecosystem
    Fireside Ventures

    As per the founder, the team of Fireside Ventures is big believers in the emerging consumer brands and what’s happening to that story not just in India, but also in the global stage. Mr. Singh had quit Helion Venture Partners in 2014, this was a tech-focused venture capital firm that he had co-founded. The present company that he has been working in, Fireside Ventures started as his family office in 2015 and became a Venture Capital firm in 2017. Now, almost after 2 to 3 years, he is happy to witness a general emergence of brands that are born in India and are made for the world.

    As per Mr. Singh, these brands, whose product have found their way into the houses of commoners in the United States and the United Kingdom, have taking the Indian story to the global markets and the result are very exciting for companies like Fireside Ventures!

    few things a VC notices in a pitch
    > Venture Capital (VC) is a type of private equity and a form of financing that isprovided by companies and business entities to comparatively small, new andemerging firms that are seen as a potential of having a high growth in future –be it in numbers of employees, annual turnover, or both. So…
    StartupTalkyAshwini

    Mission of Fireside Ventures

    The main agenda of Fireside Ventures is to initially invest in around 25 ventures that could become an iconic brand in 10-15 years. AS per, Kannan Sitaram, the venture partner at the firm, some 1,400 prospects had come in contact with the team and out of which, 350 were assessed, and the team of Fireside Ventures detailed diligence on 140 and made 18 investments. As per Mr. Kannan, these ventures not only represent emerging trends but, also the intersection of the trends.

    Fireside Ventures Changing the Indian Startup Ecosystem
    Missions of Fireside Ventures

    Funding of Fireside Ventures

    The company usually makes investments of $4 to $5 million across pre-Series A and Series A stages. In 2019, had raised around $60 million for its second fund, and had a target corpus of $100 million in total. The fund is officially named as Fireside Fund II and is anchored by Indian and Global investors and institutions. In August 2019, the Fireside Venture secured an undisclosed sum of money from the French personal care company L’Oreal in September 2019.

    Funding Raised by Fireside Ventures

    Announced Date Fund Name Money Raised
    Mar 20, 2018 Fireside Ventures Maiden Fund I Rs. 3400million
    Nov 19, 2019 Fireside Ventures Maiden Fund II Rs. 7300million

    As per Mr. Singh, the second round is comprised of the ideology and aims to double down on investments into young millennial brands and help them scale the brand reach across its target segment. In 2019, he had cited that the company is starting to see credible opportunities for Indian brands to go global and the team had witnessed a lot of interest from domestic and global investors including family offices, strategies, larger institutions, etc.

    He also pointed out that the Fireside portfolio will look to expand into newer brands across segments like super-foods, personalized beauty, fashion, and personal care. The company had a corpus of INR 340 crore and was backed by fast-moving consumer goods brands like Unilever Ventures, Emami Ltd, ITC, etc.

    Many prominent investors like Premji Invest, Westbridge Capital, Mariwala Family Office, Sanjiv Goenka Family Office, and Sunil Munjal’s Hero Enterprise Investment Office had invested in the first fund of the company.

    Venture Capital Ideas For Business Startups
    Are you dreaming of starting your own start-up [/tag/indian-startups/]? You mayfeel you can’t as you don’t have a substantial amount of cash. This can be verydisheartening, but many businesses [/tag/business/] have been “bootstrapped[/tag/bootstrapped-startup/]” into the realization that is, some…
    StartupTalkyAshwini

    An insight into the Fireside Ventures

    The company was founded by a team lead by consumer industry veteran Mr. Singh and the team comprised of experienced campaigners like Vinay Singh and V.S. Kannan in 2017. Till now, in a short period, it has already made investments across segments like personal care, processed foods, lifestyle, and home products.

    Fireside Ventures Changing the Indian Startup Ecosystem
    Founders of Fireside Ventures

    The companies that have benefited by Fireside Ventures are numerous, the prominent ones being Yoga Bar, Samosa Singh, Bombay Shaving Co., Mama Earth, and Vahdam Teas. Well, one of Fireside’s early investment Kwik 24, was acquired by BigBasket in 2018, this shows the impact of the Venture Capital firms in raising a startup.

    For its first fund, the company has claimed to have received investment interest from around 2,000 companies. Apart from that, around 90% of the investible corpus of fund 1 have already been deployed and the remaining 10% is reserved for the follow-ons. Amidst the closing of the second fund, Fireside also announced its newest portfolio brand Gynoveda, this is Ayurvedic personal care that is premised on personal health. This company also claims to have created the world’s first-period bot, which helps diagnose menstrual issues and then prescribe a personalized regime of Ayurvedic supplements to help alleviate menstrual cycles.

    List of Angel Investors in Hyderabad [With Contact Details]
    Hyderabad, being the major city of the technology industry and termed as the “City of Pearls”, embraces many budding as well as successful entrepreneurs. Ifyou are an aspiring entrepreneur who is looking for investors in Hyderabad forstartups, here we have attempted to list down Top Angel Investo…
    StartupTalkyJeenal Jain

    Fireside Ventures: Changing Startup Ecosystem?

    Fireside has been helping the Indian startups to make a name for themselves in a populated circuit. By helping them in every step, the team has been a prolific helper for the startups that were vulnerable to the closure of their ideas. Now, with the help of Fireside Ventures, they can freely implement their ideas and help the Indian startup ecosystem to be the change-maker!

  • Reliance Journey Of Being The Worlds 2nd Most Valuable Energy Firm

    Reliance Industries Ltd has now overtaken the company Exxon Mobil to become the world’s second most valuable energy company after its market capitalization scaled to a record to a record high of over ₹14 trillion (14 lakh crore). This propels Mukesh Ambani to become the fifth wealthiest person on the planet with a net worth of $77.4 billion, a position previously filled by Steve Ballmer.

    The logo of Reliance Industries.
    The logo of Reliance Industries.

    According to the stock market data, the conglomerate is now ranked 46thglobally on market. Its share price scaled to its highest of ₹2,163 before settling at ₹2,146.20 taking the company from its 48th position to 46th position. The ₹13.6 trillion market capital of Reliance along with ₹54,262 crore market capital from its partly paid shares that were traded separately puts the firms combined market value at ₹14.1 trillion or $189.3 billion. Reliance is the 10thhighest market capital company in Asia.

    Besides being on a higher spot Exxonmobile, Reliance also is above Apple which has a market cap of $1.6 trillion, Microsoft at $1.5 trillion and Amazon a $1.48 trillion dollars. It is also is higher than Chevron, Oracle, Unilever, Bank of china and The SoftBank Group. At the 46th rank it is just below PepsiCo which has a market capital of 189.8 billion.

    Billionaire Mukesh Ambani’s Reliance Retail has acquired Future group Retail Business for ₹24,713 crore
    Kishore Biyani, once celebrated as a retail king has surrendered by selling hisretail business of the Future Group to billionaire Mukesh Ambani’s RelianceRetail. Mukesh Ambani’s Reliance Industries Ltd has acquired Kishore Biyani’sFuture Group for ₹24,713 crores / $3.38 billion. Reliance Retail w…
    StartupTalkyArbaaz sayed

    Reliance Industries partly paid shares

    The RelaincePP shares was first listed on stock exchanges on June 15th, 2020 is one of the reasons to why Relaince is the 2nd most valuable energy firm in the world. The ReliancePP or partly paid up shares have been issued in recently concluded in the rights issue have generated over 4.1 times more returns to investors in less than two months. Reliance raised a total of Rs 2,12,809 crore just through Rights Issue, investment of BP to its fuel retaining venture.

    It added 115.9 billion to shareholder wealth within just four months giving the company the highest value creation in the world in such a short time, which was mostly because the record breaking fundraising from its digital unit, Jio Platforms. The firm also added $39 billion market value just within 5 weeks and 29 billion just from the last 14 trading sessions. The combined capital raised has no precedence globally in such a short time.

    List of Companies Acquired by Reliance Brands & Jio
    Reliance Industries Ltd (RIL) has made several acquisitions in the past threeyears to boost product offerings of its subsidiaries – Reliance Jio Infocomm Ltdand Reliance Retail Ltd, among others. RIL has put in $566 million in media andeducation, $194 million in retail, $1.2 billion in telecom an…
    StartupTalkyVarad Kitey

    The journey to the 2nd most valuable energy firm

    The Reliance Group, is India’s largest private sector enterprise with businesses in thee energy and materials value chain. Founded by Dhirubhai Ambani the flagship company, Reliance Industries Limited is a fortune Global 500 company and has evolved from a textile company to a global leader in the materials and energy value chain businesses. It all started when Ambani started the yarn trading businesses in 1957 form a small 500sq.ft. Office in Mumbai. In 1996 Reliance went on to become the biggest textile brand “Only Vimal”

    Reliance's growth to become the worlds 2nd energy company by value
    Reliance’s growth rate to become the worlds 2nd energy company by value
    • Reliance stands as the global leader when it comes to being the largest polyester yarn and fiber producer in the world and among the top five to ten producers in the world in major petrochemical products.
    • Reliance industries limited operates world class manufacturing facilities across the country at Allahabad, Barabanki, Dahej, Dhenkanal, Hazira, Hoshiarpur, Jamnagar, Kurkumbh, Nagothane, Nagpur, Naroda, Patalganga, Silvassa and Vadodara
    • The company works under different business segments such as Production, Petroleum Refining, Marketing, Petrochemicals, Textiles, Telecommunications and Retail.
    • The products and brands offered by the company are: LPG, Crude oil, Gasoline, High speed diesel, Aviation turbine fuel, Petroleum Coke, Sulphur, Fleet management services, Highway hospitality services, Vehicle care services, High and low density Polyethylene, Fleet management services, Highway hospitality services, Vehicle care services, different types of Yarn, etc.
    • The subsidiaries of Reliance are: Reliance Petroleum Limited, Reliance Industrial Investment and Holdings Limited, Reliance Ventures Limited,  Reliance Strategic Investments Limited Reliance Exploration and Production DMCC Reliance Global Management Services Limited, Reliance Commercial Associates Limited.
    • other subsidiaries being Reliance Fresh Limited, Retail Concepts and Services (India) Limited, Reliance Retail Insurance Broking Limited, Reliance Retail Finance Limited, Reliance digital Retail Limited, Reliance Retail Travel & Forex Services Limited, Reliance Trends Limited, Reliance Home Store Limited, Reliance Digital Media Limited, etc.

    For a company who just started as a small textile company, Reliance has crossed several milestone to become a Fortune 500 company and now the 2nd most valuable energy firm in the company within a span of 3 decades.

    Reliance Industries Limited To Hold 1st Virtual Annual General Meeting
    Reliance Industries Limited or RIL, the largest private company of India,announced on Monday that the Annual General Meeting (AGM) will be held virtuallythis year after Tata Consultancy Services (TCS) held its virtual AGM a few daysago. The Ministry of Corporate Affairs (MCA), owing to the curren…
    StartupTalkyYash Taneja

    Reliance Turning Green

    The Reliance industries has a 15 year vision to build itself as a new energy company that aims to recycle CO2 and create value from plastic waste and has an optimal mix of clean and affordable energy. While the oil to chemical conglomerate has more focused on consumer business in the recent times, but Reliance core which is oil to chemical business is well placed to generate sustained free cash flow.

    Until demand normalizes Reliance Industries are looking to maximize throughout focus on the cost by leveraging deep petrochemical integration and continue to focus on domestic fuel Marketing. Future of O2C is new energy company and partnerships. It also intends to be a net carbon zero company by 2035. To achieve this, the company is also open to work with global financial investors, reputed technology partners and start-ups working on futuristic solutions.

    This new energy business is based on the principle of carbon recycling and circular economy is a multi-trillion opportunity for India and the world. The brokerage said a key focus for Reliance Industries is renewable energy, and for that it intends to build an optimal mix of clean and affordable energy with hydrogen, wind, solar, fuel cells and battery. And intends to use technology, recycle CO2, create value from plastic waste.

  • Growth of the Gaming Industry, a Multi-Billion market

    The global gaming market was valued at $ 151.55 billion in 2019 . This industry is expected to reach a value of $ 256.97 billion by 2025. It is expected to register a CAGR of 9.17% over the  period (2020 – 2025).  Gamer’s experience is what all the emerging comapnies are focusing at. Every company is eager to write codes for mobile phones, play station, xbox. All this will be provided to the users incorporated in a single cloud storage.

    Role of Cloud Storage and Gaming

    The market is driven by the emergence of cloud gaming. The idea of cloud gaming has been formed a reality with the advances in technology. The server is the place where all the games are stored , in cloud gaming. All the computation work is done here. The work includes game scene rendering, game logic processing video encoding, and video streaming. Companies like Onlive, G-Cluster, StreamMyGame, Gaikai, and T5-Labs are offering cloud gaming services that are commercial. This new sector seems to be a threat to the idea of traditional

    This idea of cloud computing has prompted video game majors. Companies such as Sega, Ubisoft, Epic Games, Atari, Warner Bros, Disney Interactive studio to partnerships with Onlive. This will be done to distribute their games.

    Startups in Gaming and Industry boost

    The market growth is being propelled by new startups.This sector is seeing considerable activity from new comers.

    Share of Hardware devices used for playing games
    Share of Hardware devices used for playing games

    The outbreak of COVID-19 has given the gaming industry a boost.A survey in March 2020 shows that the  video gamers in the United States  have reported playing 45% more time than usual playing games.The gamers have reported playing more than usual every week amidst the lockdown. Esports is a gaming company that manages to make more than a billion dollars a year.  Twitch’s first time download has seen a rise to  the epidemic in March has risen to 14% in  the U.S.A and a staggering 41% in Italy.

    Play station is Hiring Gamers to Play games but Here’s the catch
    This might sound like a dream come true to you, but yes Play Station is hiringgamers to play games, who are fluent in specific languages and live nearLiverpool. The applicants must be fluent in either Portuguese, Russian, orArabic. Besides, to be a great gamer you should also be fluent in thesep…
    StartupTalkyArbaaz sayed

    Mobile gaming has seen the biggest increase due to the Covid-19 measures all around the globe. Mobile games  are expected to generate revenues of $77.2 billion in 2020.The industry will grow +13.3% this year.
    Reasons for choosing phone over PC:

    • Mobile gaming has the lowest need to entry: A smartphone is owned by more than two – fifths of the global population. Playing on mobile phone gives the added benefit of having free games.
    • Mobile gaming provide an option to PC cafes: The covid-19 situation has seen the closure of many gaming cafes. This forced gamers to move  to phones on a temporary basis.
    • The mobile game developement is a lot easier than PC one : The mobile gaming had no major effects due to this .

    The number of players on mobile phone will rise to 2.6 Billion in 2020. This would  contain 38% who would pay .
    The growth in console marketing has slowed down. It has gone down from what it was in 2018. The expectations for next – gen consoles had its effect on sales of consoles in 2019. Due to this a lot of companies had to adjust their annual sales and savings.

    Gaming scene in India

    Indian mobile marketing has grown over the past few months. Growth of gaming has forced the manufacturers to make a  lot of changes in the normal smartphones. A whole new type of Revolution. Not only the mobile industry but also the gaming industry is going through a revolution. The industry is growing from investments from  players like  Tencent , Nazara and Alibaba.
    The market value of Indian Gaming industry was around 62 Billion INR in 2019. This is expected to rise to 250 Billion INR till 2024. This growth indicates a growth in the number of jobs in  this sector.  By 2022 the strength of employees is expected to become 40 thousand.

    PokerDangal – How India’s Largest Poker Platform was started?
    Company Profile is an initiative by StartupTalky to publish verified informationon different startups and organizations. The content in this post has been approved by the organization it is based on. One great aspect of digitization is the fascinating online games that are takingon the world at …
    StartupTalkyVidhi Punamiya

    Value of Gaming Industry in India

    The value of the gaming market in India was around 62 billion Indian rupees in 2019. This is estimated to go up to over 250 billion rupees by 2024. The industry is expected to generate 40 thousand new job opportunities by 2022.
    According to a survey a majority of Indians play a type of game daily. It showed that shooter and sports games were popular among men. The women preferred adventure and strategy games.
    Gaming in India has seen its peaks more in Mobile Gaming. With the availability of cheap and almost free internet mobile has become he best option. The industry is expected to grow a lot in the upcoming years.

    Console Gaming In India

    The market value of console Gaming in India is expected to reach about 291 million USD by 2022. The console gaming market is expected to be about 36.3 percent by 2022. The industry has seen a growth of 35.5 percent since 2016.

    “PS4 sales have doubled in Q1 FY20 (April-June) as compared to Q4 FY19 (January-March). There has been an outstanding 200%+ growth in peripheral sales as well, which indicates an attitudinal shift, making gaming a more inclusive family entertainment option in India. May and June 2020 have witnessed the highest ever sales,” said Prosenjit Ghosh, Head of PlayStation Business, Sony India.

  • An Insight into one of the Most Vital Venture Capitals: Chiratae

    Nothing is more predictable like the startup ecosystem. The one residing at the top of the chart may fall into the loopholes and become less popular on any given day. The same is the story about the Indian startups who are struggling at the present moment. These ventures can become the next big thing in the ecosystem if they execute their plans very well. Now, as we discuss the stories of many venture capitals, there is one of the most vital venture capitals: Chiratae, that has helped many startups to grow and help out multiple companies to stand on their own feet.

    Quick Facts – Chiratae

    Company Name Chiratae
    Headquarter Bengaluru, India
    Sector Finance
    Founder Sudhir Sethi
    Founded 2006
    Net Worth $600 million

    Insights into Chiratae

    The entrepreneurs at Chiratae embrace the unpredictable and exploratory terrains of the startup ecosystem. The name has been derived from the animal Cheetah as most of the team members are wildlife enthusiasts. The company has helped over 80 ventures and 2 IPOs. About $700 million advisories have been done by Chiratae and the team has over 3 offices across the country.

    The company was founded by Sudhir Sethi. Post-1998, Sudhir and the team have advised on investments into 100+ companies across Deep Tech, Digital Consumer, Enterprise  Software, Fintech, and Healthcare sectors. The key investment under Sudhir is Flipkart, FirstCry, Lenskart, Policy Bazaar, Curefit, Manthan, Newgen, Nestaway, and many more to name.

    Success story of Chiratae
    Sudhir Sethi

    The company is now one of the leading tech venture capital in the country with Mr. Ratan Tata, Mr. Kris Gopalkrishnan, Mr. Burno Raschle, and Mr. Manish Choksi on its global advisory board. In 2001, Mr. Sethi was recognized by Red Herring as one of the leading venture capitalists in the country. Apart from that, he has been named among the Top Ten IT Professionals by Dataquest and Bloomberg UTV as the visionary venture capitalist. He also featured in Subroto Bagchi’s book Zen Garden- Conversations with Pathmakers in 2014.

    Adding on to that, the founder of Chiratae ventures has served on EMPEA Venture Capital Council. He has served on the executive committee of India Venture Capital Association, Investment Committee of UTI Ventures, on the Board of Advisors at N.S Raghavan Centre for Entrepreneurship, IIM Bangalore. Sudhir has completed his BTech in engineering and holds an MBA degree from FMS Delhi, one of the most prestigious institutions in the country.

    Chiratae Efforts in Helping DeepTech Startups

    Being one of the leaders, risk-taker, and supporters of the startup ecosystem, Chiratae Ventures has been digging down deep and finding the uncharted terrains of the startup ecosystem since 2006. The company was formerly known as IDG Ventures. This VC has invested in over 80+ companies across consumer media and tech, cloud/software, health tech, and fintech sectors, and out of this, 25 % have made it to the global stage.

    The fundraising philosophy of the founder includes the entrepreneur being a stellar one, with an ability to become a huge brand and to get on to the global stage. Hence, the company has been helping out the startups successfully and continues to do so. As time passes, the company is growing bigger and better and making it to the headlines.

    Success story of Chiratae
    Chiratae Deeptech

    As the country moves from services to products to innovation to the DeepTech economy, Chiratae Ventures is on a mission to explore the trends in the ecosystem and identify when opportunities could be created. Now, the company is looking to identify and support entrepreneurs who are motivated to bring a positive impact by leveraging Deep technology.

    Since few years, the firm has nurtured and helped grow several DeepTech startups, some of them include Axio Biosolutions- MedTech to revolutionize bleeding and wound healing, SigTuple-intelligent screening solutions to aid diagnosis through AI-powered analysis of visual medical data, PlayShifu which is an AR-based interactive learning toy for kids, Zumutor Biologics- a leading immune-oncology company in the space of targeted NK cell therapeutics and Emotix- makers of Miko, an educational company bot are some of the major support provided by the company.

    Chiratae on the Path to Enable DeepTech Entrepreneurs

    Being one of the major supporters of the DeepTech movement, the company had launched a DeepTech innovators program, which was a two-day immersive event to provide startups in DeepTech space access to an ecosystem of experts and successful entrepreneurs. Talking about the event, Sudhir had cited that as investors, the team needs to reinvent to steer the country into its next growth phase.

    According to him, the country is witnessing a boom in innovation in the country and the team wants to be the catalyst for this transformation by supporting the entrepreneurs. Through this program, they have tried to bridge the gap that early startups are facing in terms of accessibility to talent, mentorship, and capital. During this event, the companies were given a chance to partner with key influencers in the ecosystem, including the DeepTech experts and industry evangelist who can provide them with expert advice and opportunities to scale their business.


    Now, as the company aims to bridge in the gap between the struggling startups and resources, it is has been taking giant strides in the ecosystem.  In this event, the team brings in a program that fosters a network-led and collaborative approach by providing selected entrepreneurs with many benefits. Some of those benefits included an increased investment process and AMA with experts who have scaled businesses across multiple sectors.

    This event also included sessions on entrepreneurship must-knows and how to create great products that can help society. Apart from this, the selected entrepreneurs got a chance to have access to seed-stage capital. Adding on to this, leading corporate brands are sharing their deep-tech knowledge with Chiratae and its partners.

    Chiratae Funding

    Announced Date Fund Name Money Raised
    Oct 9, 2019 Chiratae Ventures International Fund IV $184M
    Sep 12, 2019 India-focused fund IV $150M
    Sep 4, 2019 Chiratae’s Fund IV $20M
    May 12, 2016 IDG Ventures India Fund III $208M
    Feb 1, 2013 IDG Ventures India Fund II $175M
    Feb 1, 2007 IDG Ventures India I LLC $150M

    Chiratae as an Inspiration

    Well, if we look into how much Chiratae has contributed to the development of the startup ecosystem, we can infer that it is an indispensable part of the startup circuit. Now, a company alone cannot fuel the growth of the circuit on its own, hence, it is very much important for other venture capitals to come up and support the entrepreneurs!

  • Shareholding and Worth of Zomato Founders

    Zomato is an Indian food delivery startup restaurant aggregator. Zomato primarily provides concrete information, menus, and user reviews of the restaurants. Along with this, Zomato also has food delivery options from partnered restaurants of the selected cities. The founders of Zomato are Deepinder Goyal and Pankaj Chaddah. The Zomato recruiting team is of the ideology that hiring the correct people is primary for their company’s startling growth. Also, recruiting this pool of employees was one of the major milestones achieved while building the foundation of Zomato. Now, the company has a squad who are vital in bricking their dream project.

    To date, Zomato has had 17 funding rounds and raised close to $914.6 million in these rounds. Its most recent funding came in April 2020, Series J round by Baillie Gifford for $5 million. According to Zomato, it has registered $205 Million in revenue as compared to $63 Million in the first half of 2019.

    Based on the Regulatory Filings, Zomato has allotted 15,188 Preference Shares at issue price of Rs. 300,235/Share to Temasek (Singapore-based Investment Firm). This gives Temasek a holding of 2.37% stake in Zomato. This financing round bought Zomato’s valuation at $3.18 Billion.

    The Top Individual Stakeholders of Zomato are:

    Top Individual Stakeholders – Zomato
    • Deepinder Goyal, Co-Founder & CEO of Zomato, with 7.7% stake i.e worth nearly $245.2 million
    • Pankaj Chaddah, Co-Founder of Zomato, with 1.75% stake i.e nearly worth $55.7 million
    • Gunjan Patidar, Chief Technology Officer (CTO) of Zomato, with 0.54% stake i.e nearly worth $17.25 million

    Apart from issuing preference shares, Zomato also alloted ESOPs of around $52 million. This scheme is all set to bring $25 million for Zomato thereby also creating wealth for its employees.

    This fresh capital from Temasek, would give Zomato a much-needed push to the foodtech major, As the funding of $100 million from Ant Financials was stuck due to the ban on FDI (Foreign Direct Investment) under the automatic route from countries that share a border with India.

  • Zerodha vs 5paisa: The Top Contenders In The Brokerage Industry

    This stock broker comparison is between two of the biggest discount brokers in India. This article will compare 5paisa and Zerodha based on their brokerage charges, account opening charges, maintenance charges, exposure margin, trading platform and more. This comparison will help highlight the major difference between these two brokers to help you find the best on your preference.

    A brief history on Zerodha

    Zerodha is the biggest private discount broker in India and was founded in the year 2010 by Nitin Kamath. It is known to be one of the best for traders and investors looking for low brokerage, reliable trading platform and easy interface. It has over 2.2 million clients that contribute over 15% of daily retail trading volumes across NSE, BSE and MCX. Zerodha is the largest stockbroker in India and is headquartered in Bangalore. It offers zero brokerage on delivery trading and a flat rate of 0.03% or Rs 20 per executed on other segments.

    Zerodha offers a zero brokerage charges for delivery equity investment and direct mutual fund investments. For the other services like F&O, currency and commodity trades across NSE, BSE, and MCX it offers a flat brokerage of flat Rs 20 irrespective of the trading volume. The number of active clients on NSE is 9,09,008 as of November 2019. The other services it offers it offers Direct Mutual fund investments, Kite APIs.

    Zerodha vs. 5paisa logo
    Zerodha vs. 5paisa logo

    A brief history on 5paisa

    5paisa is a public discount broker that provides you the platform to trade in stocks, futures and other option at the lowest cost of Rs 20 flat per trade, even if you trade 10 crore. It is headquartered in Mumbai and is a part of India Infoline (IIFL). It is leading non-banking financial institution in India with two decade long experience as it was initially incorporated in 1995. 5paisa was relaunched in 2016.

    It was reintroduced new brokerage model for online retail broking services and also got demerged itself from IIFL so that it can get listed on the stock exchange. 5paisa capital started trading on NSE/BSE in November 2017 making it the first to be listed in the financial digital marketplace. 5paisa capital provides a platform for all financial products which include equities, derivatives, mutual funds, commodities, bond and debentures, insurance and personal loans.

    The account opening process for 5paisa is totally paperless based on Aadhaar. 5paisa provides the trading facility in mobile, browser and desktop platforms. The number of active clients on NSE is 1,06,280 as of November 2019. The other services it offers are Mutual Fund Investments, Research reports, etc.

    The Role Of Business Development Manager And Tools Used
    Business development is the activities, initiatives, and ideas aimed at making a business better. It creates a long-term value. A business development manager has to achieve both short and long-term goals. Also, there are some tools used in the business sector.
    StartupTalkyATHUL C K

    The side by side comparison of 5paisa and Zerodha

    5paisa vs Zerodha Charges and AMC

    5paisa trading account charges is Rs 650 while Zerodha takes Rs 200 as account opening charges. 5paisa Demat Account AMC (annual management charges) charges is Rs 540 which is charged at Rs 45 per traded month and Zerodha Demat account AMC charges is Rs 300.

    Types of AMC 5paisa Zerodha
    Trading Account Opening Charges ₹650 ₹200
    Trading Account AMC Charges free free
    Demat Account Opening Charges free free
    Demat Account AMC Charges ₹540 (₹45 per trade) ₹300

    About brokerage plans and brokerage charges

    Both the platforms do not provide multiple, monthly or yearly plans and only offer single broker plans. But when it comes to brokerage plan details 5paisa is a discount broker which charges a flat fee of Rs 20 per executed order for equity cash and equity F&O, including currency and commodity. This is the lowest brokerage plan offered by the offered by the best brokerage house in India. Zerodha on the other hand, charges Rs 20 or .03% whichever is lower for equity intraday, F&O, currency and commodity. No other upfront brokerage or turnover commitments on your trade.

    Brokerage Charges 5paisa Zerodha
    Plan Name Flat Fee Rs 20 Trading Plan Max Rs 20 per order Trading Plan
    Equity Intraday, Futures, Options Flat Fee Rs 20 0.03% or Rs 20 whichever is lower
    Currency Futures, Commodity Trading Flat Fee Rs 20 Flat Fee Rs 20
    Call & Trade Charges Rs 100 per call(No limit of orders) Rs 50 Per Executable Order

    Demat account opening charges

    This table shows the difference demat services that both the broker services provide and its charges.

    Demat account 5paisa Zerodha
    Demat Account Opening Fee Nil ₹50 (Stamp charges payable upfront)
    Demat Account AMC ₹540 (Charge ₹45 per traded month) Individuals/Non Individual – ₹300 + GST Non Individual – Corporate – ₹1000
    Dematerialisation Charges ₹15 per certificate + ₹40 as postal charges ₹150 per certificate (+ ₹100 Courier charges)
    Rematerialisation Charges ₹15 per certificate or ₹15 for every 100 securities or part thereof whichever is higher + ₹40 for courier ₹150 per certificate + CDSL charges + ₹100 Courier charges
    Transaction Charges (Debit or Sell) ₹12.50 per transaction per script • Market Trades: ₹8 + ₹5.5 •Off-Market Trades: 0.03% of ₹25 whichever is higher

    Order Types

    The main Orders that all the broker platforms offer are CNC order (cash and carry), MIS order (margin intraday squareup), NRML order (normal margin). There four types of orders Cover orders provides additional margin and are placed  for an compulsory stop loss and this is a intraday position. The second one is the Bracket order where you lock in a profit by bracketing an order with two opposite side orders. This will help you get a higher margin and limit your loss.

    The third order is the after market order that are sent to exchange on the next day. The last one is GTC which are Good Till Cancelled order, which means you can buy or sell equity limit orders and your orders will remain in the system until its executed.

    Order Types 5paisa Zerodha
    CNC, MIS and NRML orders yes yes
    Cover order and Bracket order yes yes
    AMO-After Market Orders yes yes
    GTC-Good Till Cancelled yes yes

    Investment offering

    Investment offers contain Equity Derivatives (on both exchanges NSE/BSE), Commodity Trading (both brokers offers this on MCX), Online Mutual Fund Investment (offered on online mutual fund investment option) and Portfolio Management Services (both the brokers don’t offer this).

    Investment Offering 5paisa Zerodha
    Equity Cash and F&O yes yes
    Currency Deravitives and Commodity yes yes
    Mutual Funds and ETF yes yes
    Bond / NCD yes yes

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    The PROS and CONS of Zerodha

    PROS:

    • Free equity delivery traders. No brokerage charges for Cash-N-Carry orders.
    • Zero brokerage charges for delivery trading across segments and exchanges with a maximum brokerage of Rs 20.
    • Excellent trading platforms (KITE) available for free.
    • Easy and fast online account opening with simple and flat brokerage model in all other segments and exchanges BSE, NSE and MCX.
    • Over 10 lakh active customers and 10% of daily volume at BSE, NSE and MCX.
    • Zerodha Referral program offers 10% brokerage share to clients you refer.
    • Good Till Triggered (GTT) order are available which are similar to orders.
    The premium options offered by Zerodha
    The premium options offered by Zerodha

    CONS:

    • Doesn’t provide stock tips, research reports or recommendations.
    • Call and trade is charged at extra Rs50 order and auto square off is charged at extra Rs 50 order.
    • Doesn’t offer 3 in 1 account.
    • Doesn’t offer unlimited trading plans and AMC free demat account.

    The PROS and CONS of 5paisa

    PROS:

    • Flat fee brokerage. Pay just Rs 20 per executed order with no worries about the size of the trade.
    • Free trading software including 5paisa mobile app and trading terminal.
    • Up to 20 times exposure in intraday trading and 4 times more exposure.
    • 3.5 times more exposure in derivatives Intraday Trading.
    • It is the cheapest broker, flexible brokerage plans and research reports available but at an extra cost.
    The premium options offered 5paisa
    The premium options offered 5paisa

    CONS:

    • Call and trade is charged at Rs 100 per call in addition to the brokerage. Any number of trades can be placed in one call.
    • Research and advisory is available at extra cost.
    • Higher exchange turnover charges in comparison to other popular discount stock brokers.
    • Higher demat debit charges Rs 25 per transaction.
    • NRI trading and Demat account is not available.
    • Doesn’t offer commodity trading.

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    The premium services offered by zerodha and 5paisa

    Zerodha, being the biggest discount broker in India has over 22 lakh clients which is because of trust and brand value. Moreover, initiatives like educational facility (Varsity), investment in IPO’s from the same dashboard, free direct mutual fund investments, etc create more value for its clients.  Zerodha has got a bigger range of partner products that help traders and Investors like Streak, Sensibull, Learn app, etc.

    Whereas on the other hand, a few known advantages of 5Paisa over Zerodha is that they offer Research reports and robo-advisory to their clients, which Zerodha doesn’t have. However, this facility by 5Paisa is offered only to its clients with higher plans. In addition to that, the multiple flexible brokerage plans offered by 5Paisa can also be a little advantageous for volume traders.

  • Why the demand for used cars is increasing?

    This Pandemic has brought many changes in our lifestyles and hence the market. One such change is the drastic increase in demand for a used car. But strangely, it’s much before the pandemic that the demand for a used car was so high. This pandemic has just fueled it more.

    After India entered the BS-VI era in auto-industry from April 2020, the value proposition of the used cards is growing stronger. People in India have always been price-conscious. They are expecting cars to become expensive due to additional technology costs. Which has led them to opt for used cars rather than the new ones? And why not? When they are getting a better option for the same price as that of the new car !!

    As per the MD and CEO of Mahindra First Choice Wheels (MFCW), companies are gradually focusing on reducing the production of diesel cars. After Maruti Suzuki decided to exit the diesel car segment by April 2020, the demand for compact diesel cars in the used car market showed a steep growth. Unless of course, there is a backlash against diesel cars.

    The markets are dominated by the major players like OLX, Mahindra First Choice Wheels, Cars24, Maruti True Value, Hyundai H Promise, and others.

    Some Factors, that affect the growth of the used cars in the market are:

    • Organized Channel Expected to Register Higher CAGR
    • Growing demand for luxury cars
    • Competitive Landscape
    • Increased Reliability
    • Reduction of the Ownership period
    stacked up used cars
    stacked up used cars

    Organized Channel Expected to Register Higher CAGR

    In the Indian market, the organized phase is anticipated to witness a CAGR growth of 22.79% throughout the forecast amount.

    This marketplace for used automotive has seen vital growth over the last 3 years. This growth increase is especially driven by sales of used cars in railway system cities and an increase in online sales platforms, like CarDekho, Cars24, Droom, etc.

    The majority of the OEMs have already entered the used automotive market. and people WHO didn’t enter the used automotive market at the initial stage entered the market throughout the last 5 years. Renault started the pre-owned automotive business in 2015 and Nissan had entered the business in 2017.

    Significant OEMs in the Asian country, like Maruti Suzuki, Mahindra, Hyundai and Toyota, and luxury automotive makers, like BMW, Audi, and JLR, have their used automotive network.
    The sales have enlarged since 2017.

    Consumers like safety, transparency, convenience, and low risk, whereas buying a second-hand automotive. that ought to act in favor of the organized sector. nevertheless, the unorganized sector occupies nearly eightieth of the whole market than the organized sector.

    sales in organised sector vs un-organised sector
    sales in organised sector vs un-organised sector

    Growing Demand for Luxury Cars

    One of the main reasons for the rise in the used automotive business is the demand for luxury cars. Before, owning a luxury automotive was accustomed to being a dream for the bulk, chiefly owing to money issues. however, this can be step by step dynamic, because the shoppers should buy used automotive.

    Some major factors driving the expansion of the used luxury cars are as follows –

    • luxury cars have a high rate of depreciation worth,
    • youth driving towards higher model on low value
    • in urban cities, deprivation in finance management, and want quality product.
    • increase in the online marketplace for used automotive.

    One of the major reason for the increase in used car business is the demand for luxury cars. Before, owing a luxury car was used to be a dream for the majority, mainly because of financial problems. But this is gradually changing, as the consumers can buy used car.

    Reduction of Ownership period

    Owners of the posh cars tend to unload their vehicles within a year or two. As they need for upgraded and higher models.
    A few years ago , the possession amount was of 6-7 years for many cars. It’s currently reduced to around four years and is predicted to dip additional to 3.5 years by 2021.
    This directly impacts the availability of used cars in market and additionally in good shape. That additional has led in accessibility of alternative for the shoppers.

    Competitive Landscape

    Online Presence

    Opening of on-line platform could be a major force behind a rise within the numbers of the used vehicles business. Conversion has conjointly been instrumental in organizing the used automotive business on-line that historically been aloof from the net area.

    With the existence of on-line portals, customers are able to flick through variety of used cars that work into their budget. It’s conjointly created the purchasers aware and able to search full regarding their future purchases yet.

    Organised Players

    The marketplace for used automotive in Asian country is generally commanded by major players like OLX, Mahindra 1st alternative Wheels, CARS24, Maruti True worth, and Hyundai H Promise. They have the biggest share of the market due to their business models and enlarged variety of pre-owned automotive shops.

    Quikr, Honda automobile Terrace, Ford Assured, Toyota U-Trust, etc., are within the method of increasing their shops and operations within the native market.

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    Increase in responsibleness

    Due to the increasing technological advances in the automobile sector, cars have gotten a lot of reliable.
    A well-maintained automotive can simply run, not bothering for years. This means, even the second owner of the vehicle, will be assured of a hassle-free driving possession expertise.
    Manufacturers are providing long pledge periods up to 7 years in some cases. This offer gives rise to the preference of shopping for a second user automotive. They get the advantage over manufacturing defects which will be treated with no overhead prices.

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    Statistics

    • The used automotive market in the Asian country was valued at USD 24 billion in 2019. And it’s expected to register a CAGR of fifteen.12% throughout the amount (2020-2025).
    • The demand for used luxury cars has been growing at some thirty-fifth – four-hundredth year-on-year basis.
    • OLX’s report shows, the used luxury vehicles whose value was Rs 15lakh or more were the foremost most popular alternative among the shoppers.
    • Every month over 55,000 luxury cars are listed. The provision for premium cars jumped by over fourfold in 2017.
    • According to the OLX automobile Note report, 38th% of the 4-wheeler listing consisted of top-end sedans and luxury cars.
    • Mahindra 1st alternative Wheels has recorded sales growth of four-hundredth throughout 2018-19. that registered a revenue of Rs 148 crore.
    • It is sold-out over 250,000 used cars throughout 2018-2019.
    • CarDekho has been in the number 1 position. Within the on-line used automotive market recording a Year-on-Year rate of regarding 100 percent over the last 3 years.

    With COVID-19, folks are following social-distancing. While they’re attempting to urge back to their family, folks are preferring personal transport over the public. and during this time of crisis, the economic resolution is to shop for a second-hand automotive

  • How Avendus Capital becomes topmost Financial Advisor?

    The major learning one could take from Avendus Capital is the story of climbing out from early pitfalls. Now, the company has grown to have a part in every lucrative sector in the business circuit. Well, the story of Avendus Capital is more of learning for anyone who belongs to the startup circuit.

    The co-founders Kaushal Aggarwal, Ranu Vohra, and Gaurav Deepak have worked efficiently to establish an image of Avendus as one of the most important companies in the circuit. Well, how did the company rise after falling into potholes multiple times? Let’s check it out!

    Quick Facts – Avendus Capital

    Company Name Avendus Capital
    Headquarter Mumbai, India
    Industry Financial Services
    Founder Kaushal Aggarwal, Ranu Vohra, and Gaurav Deepak
    Founded 1999
    Parent Organization Avendus Capital Pvt. Ltd.

    How Avendus Capital Launched?

    It was a typical September morning in 2004 when Ranu Vohra, took a flight from San Francisco to Mumbai. He broke into a cold sweat as a call from Neeraj Gupta, the CEO of Cymbal Corporation left him shocked. Vohra parked himself at Cymbal’s headquarters at California for the previous weeks and was firming up the final contours of the brand’s sale to Patni Computer Systems in India. Well, by the time he completed work the previous evening, all the creases had been ironed out and it was a matter of time that the deal was completed and Avendus Capital, an investment bank was launched.

    However, the joy was short-lived as on that call, Gupta told Vohra how the dynamics had changed and Patni wished to take over 90 percent of Cymbal’s workforce after the acquisition. As Vohra recalls, instead of taking a very enjoyable flight home, he traveled with a big question mark in his mind. This deal with Patni was very important for the future of Avendus.

    Story of Avendus Capital
    Avendus Capital Launching

    During the 1990s, internet startups in the United States have triggered a sense of gold rush amongst the venture capital firms. In this phase, the Dotcom bubble was growing day by day and in India, companies like MakeMyTrip, Contests2win, Indianplaza, and Firstandsecond had shown promise in the circuit. Hence, the trio of Vohra, Aggarwal, and Gaurav, who were investment bankers with Communications Equity Associates and ICICI Bank were very much convinced that the startup circuit would hit the Indian circuit very soon.

    Next, the trio launched Cool Startups, which was an online startup advisory firm that modeled on Garage.com in the United States. In January 2000, it started operating in a small office in Mumbai after collecting around INR 2 crore in funding which was headed by Infinity Ventures.

    Avendus Capital Funding

    Taking about how they were successful in collecting funds, Vohra admits that as three of them were from IITs, the most prestigious institutes of the country, the investors believed in them. The main idea of the trio was to take the company to a certain stable level and then sell it to Garage.com or someone else who might be interested in the venture.

    Unfortunately, the only thing they could not anticipate was the quick incoming of the dot-com bust. As soon as it occurred, it left Cool Startups with no choice but to change tracks. In September, the team morphed Cool Startups into Avendus Capital, which was an investment bank to advise software exporters and business process outsourcing companies.

    Story of Avendus Capital
    Avendus Capital Funding

    Now, the concept of pivot helped the firm and it was barely a blip on India’s investment banking radar. This investment banking radar of the company was dominated by people like Uday Kotak and Hemendra Kothari. Apart from that, there were global heavyweights like Citi, Morgan Stanley, and Deutsche Bank.

    Till 2004, Avendus could only collect eight deals. Amongst these, the largest deal was $4 million but the Cymbal deal at $8 million would shine a light on the firm’s ability to perform on the bigger stage, and hence, the firm could bring a financial breather in the circuit.

    Hence, to bring things back on track, Vohra coerced Cymbal and Patani to make agreements and for his company, it was light at the end of the tunnel. On October 12, when the deal was announced, the team at Avendus capital treated themselves with bottles of champagne. Well, it was the first taste of success and the company took giant strides since then!

    Post Initial Success of Avendus Capital

    In the upcoming years, Avendus Capital straddles sectors as diverse as digital, enterprise, technology and services, consumer, financial services, health care, infrastructure and has evolved into a prolific investment bank. Presently, the count stands at 138 merges and acquisitions, with a deal value of $7.7 billion and 164 private equity deals to the tune of $5.7 billion. Avendus Capital now has offices in New York and London runs global mandates in IT and BPO.

    As per Vohra, the team found a big white space in the circuit. They observed that the mid-market companies of today have the potential to become the big names of the circuit and hence, the entrepreneurs needed advice.

    As there were very few people who offered these services, the situation presented an opportunity where the company could deal with multiple clients rather than be dependent on industries where there were few participants.

    Story of Avendus Capital
    No. of Deals Done by Avendus Capital in Last 4 Years

    So, when the Venture Capital firms started queuing up for Indian startups at the turn of the decade, Vohra, Aggarwal, and Gaurav were among the first who started working off. The team started doing their work in the digital sphere when it was not glamourous. The team built relationships when everyone found that it was nearly impossible to have partners in the circuit.

    Hence, Avendus Capital as a company grew stronger and stronger day-by-day. Post-2011, the firm’s digital, media, and technology vertical has cracked 59 fund raises and 11 mergers and acquisitions. The company is also credited with introducing investors like Stripes Group, Valant, Adveq, TPG, and many more to name.

    Avendus Capital as an Inspiration

    Avendus as a company has seen the highs and lows that are very important for the growth of an organization. Now, as the venture capital firm has the experience and the team knows how to guide the aspiring entrepreneurs, it has a very important role in the future of the Indian startup circuit.

  • How Rockefeller built his trillion-dollar oil empires

    How many wealthiest Businessmen or tech giants are living today? There are plenty of them who have worked their path through to the billionaire. But the only name topping the chart died almost a century ago. The businessman who continues to rank as one of the richest men in modern times built a trillion-dollar oil empire. This is the story of John Davidson Rockefeller(1839-1937).

    He is still one of the great figures of Wall Street, reviled as a villain, applauded as an innovator, but universally recognized as one of the most powerful men in history.  

    Early Stage of Rockefeller

    John was a smart individual since childhood. He got his hands into a lot of tasks, including raising turkeys and doing chores for neighbors, to make any money for his survival.

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    He received an unusually good education for his time till the age of 16 and then found a job as an assistant bookkeeper at a company called Hewitt & Tuttle, but he left that position in order to form a business partnership with oil driller Maurice Clark, that would later become Rockefeller, Andrews & Flagler, a company that focused on oil refineries rather than drilling.

    Frustrated with the low wage rate at the Bookstore, he decided not to invest his more time into the job and get some higher paying work. He then managed to secure a loan and started selling food products, such as grain and meat.

    The business boomed and John made some serious money. He was far from a millionaire though, but he didn’t do too bad for an inexperienced teenager. He was only 18, but the banks, impressed with his commercial acumen, were ready to loan him more money.

    Standard Oil

    In 1865, Rockefeller had borrowed some money to buy some of his partners and take control of the refinery. Over the course of the next few years, he acquired new partners and expanded his business in the growing oil industry. In 1870, Rockefeller formed the Standard Oil Company of Ohio, along with his younger brother, and a group of other men. John Rockefeller was himself the president and largest shareholder.

    Standard Oil Company
    Standard Oil Company

    Rockefeller’s Oil Monopoly

    In 1859, the first oil well in the United States was discovered. And so there began the oil rush and rise in demand. A lot of passionate entrepreneurs, including Rockefeller, rolled up their sleeves and prepared to grab their slice of the pie.

    When a bunch of determined, ruthless, pioneering entrepreneurs see an opportunity, they don’t show any mercy to their competitors. These people are relentless and won’t settle for anything but the first spot.

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    John Rockefeller not only sold refined crude oil but he also squeezed profits from byproducts like paraffin wax, tar, and naphtha. He didn’t buy wooden barrels from other businesses, he bought a forest and used his own wood to produce barrels to store oil.

    The revenue kept coming and Rockefeller made all the small competitors surrender to his authority. Rockefeller incorporated his company as the Standard Oil Company in 1870.

    But there was one thing that was still bothering him. There were four more competitors left and Rockefeller, who was raised in a crowded household and earned 50 cents a day, wasn’t a big fan of sharing.

    Rockefeller’s Standard Oil gained a state of monopoly in the oil industry by buying rival refineries and developing companies for distributing and marketing its products around the globe. In 1882, various companies were combined into the Standard Oil Trust, which would control some 90% of the nation’s refineries and pipelines.

    By 1890, his company, Standard Oil, was gaining major profits, which he used to buy out competitors. While Rockefeller’s offers were usually readily accepted, he had ways of persuading holdouts.

    He bought up all the oil barrels to cause a shortage that crippled smaller companies. Orchestrating price wars between wholly-owned subsidiaries, forcing holdouts to sell at losses. Also, Secretly bribing legislators.

    Limiting the number of trains available for shipment by leveraging his close relationship with the railroad companies. Purchasing all of the equipment and the equipment suppliers, then refusing to sell replacement parts to holdouts.

    Rockefeller’s Journey to Trillion Dollar Empire

    Standard Oil Trust

    After his failure to reorganize the rail industry, Rockefeller decided to restructure his sprawling empire. He and his partners innovated a first of its kind trust, where they swapped their individual holdings for shares in the trust. Rockefeller now wielded centralized control and veto power on all of the corporate boards within his conglomerate. The immediate benefits included even lower costs, lower kerosene prices, and standardization across the industry. Rockefeller’s company now had the assets and wealth to build pipelines and other infrastructure, on a scale that was previously unthinkable.

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    Standard Oil also employed chemists who developed ways of increasing the types and quality of combustible fuels and created methods of converting waste into usable substances. The petroleum coming out of the ground was being refined into various products, such as diesel fuel, varnish, and hair gel. As the new products became cheaper to produce, the company increased its global economy of scale.

    Standard Oil had its hands in many ancillary industries, such as iron, copper, steel and coal, but it also grew its presence in more unexpected areas, such as general stores. Rockefeller wisely forced shops to carry his products alone, where he was able to draw on the empire’s war chest to slash prices, thereby driving non-compliant shop owners out of business. Standard Oil likewise bought up newspapers to promote its version of events. It also owned its own boats, railroad cars, and warehouses, while manufacturing its own sulfuric acid.

    Rockefeller’s later life

    After retiring in 1896, Rockefeller channeled his energies towards philanthropic deeds, donating millions of dollars in the latter years of his life. With his son’s help, he created the Rockefeller Foundation, to carry on his work after he died. His business practices and charities have nonetheless benefited millions of people.

  • GPT3 is the upcoming revolution in Artificial Intelligence

    OpenAI is an artificial intelligence research lab founded by Elon Musk. They have announced the arrival of the newest version of an Artificial Intelligence system it had been working on that can mimic human language, a model called GPT-3(Generative Pre-trained Transformer-3).

    GPT-3 is the 3rd generation of OpenAI’s GPD, a standard language process that utilized machine learning to write text, answer different questions, and translate text. It examines a system of data, including text and words, then expounds on those samples to generate original production as an image or an article.

    The GPT-3 is prior trained with a large amount of natural language text from the Internet. It costs at least $4.6 million to train on GPUs. GPT-3 is a big leap forward for AI because it has general intelligence that surpasses humans at a wide variety of tasks, from programming to researching to having intelligent conversations.

    GPT-3’s language abilities are amazing. When appropriately processed by a human, it can compose creative fiction, it can produce working code, it can make sensible business memos, and substantially more. Its possible uses are limited only by our minds.

    The Working of GPT-3

    Working of GPT-3
    Working of GPT-3

    As precisely explained by Sharif Shameem,

    “By consuming terabytes of information to know the basic patterns in human communication.”

    GPT-3 develops a considerable analytical group of English rulings and influential models of computer known as neutral nets to find patterns and regulate its rules of language functioning. GPT-3 processes 175 billion parameters of learning, which can perform any work it is allotted, making it more as compared to Microsoft Corp.’s Turing-NLG procedure, the second-most powerful model of language, it constitutes of 17 billion parameters of learning.

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    Why GPT-3 is an important Deal to discuss?

    GPT-3 is a significant model trained so far. For different work, GPT-3 is functional without fine-tuning or any update in gradients. It only works on some demonstrations through a textual interface with this model. The massive invention for standard language processing and deep learning has allowed GPT-3 to fulfill the below-listed points:

    • Writing news contents from a headline with a human touch
    • Quickly answers puzzles with accuracy
    • Translates different languages, initially demanding for GPT-2
    • Selects the best winding up out of several for a story
    • Also performs five digital arithmetic accurately
    • Guesses the last term of different sentences by identifying the paragraph context

    A research study on GPT-3 with the title “ Models of Language are Few-Shot Novices” emphasized the outcomes of GPT-3 testing on tasks listed above against the fine-tuned models. In a different test, GPT-3 did better in comparison to the representations at zero-shot conformations.

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    GPT-3, a Revolution in AI

    GPT-3 of OpenAI has been the first leap in accomplishing it by attaining the high phase of human being-like intellect through NLP and ML. It outperforms human beings at highly economical and beneficial work-profits to humanity. GPT-3 is supported by different experiments directed by the primary testers who are left amazed by the outcomes.

    At present, the newest version of the GPT-3 language processing system is accessible in private beta. Also, OpenAI is giving you access to the API by invite only. Still, there is a lengthy list for the paid theme, and it is predicted to be published in the upcoming two months.

    GPT-3 is an incredibly sophisticated text indicator. A human gives it a piece of text as information and the model produces its best investment regarding what the next piece of text should be. It would then be able to repeat this procedure, taking the first information along with the recently produced text, regarding that as new input, and creating a subsequent piece, until it arrives at a length limit.

    GPT-3 can figure out how to carry out a task with a single brief, better, at times, than different variants of Transformer that have been calibrated, so to speak, to specifically perform just that task. Simply feed it a huge amount of text till its loads are perfect, and it can proceed to perform entirely well on various specific duties with no further interruption.

    GPT-3 has been a major plus in transforming AI by reaching the highest level of human-like intelligence through machine learning. The high functioning GPT-3 has the potential to completely revolutionize the language processing abilities of cognitive systems. The world of AI is constantly evolving and is getting closer to human intelligence day by day. In this scenario, the GPT-3 plays a significant role in understanding human intellect and trying to displace it.

    This technology is still in its budding stages and there is a lot of scope for improvement. However, it has surely generated a lot of attention in the industry and it has certainly paved the desire for bigger and better neural networks.

    Take Away

    A tweet by Sharif Shameem about an experiment he did with the GPT-3:

    “This is mind-blowing. I created a layout producer with GPT-3, where you only clarify the layout you need, and it makes the JSX code.”

    How wonderful is it for an Artificial Intelligence to transcribe complicated computer codes from a simple English request, despite not having been accustomed to write codes or even understand English! There are many wonders to come in the future.