StartupTalky

Tag: 🔍Insights

  • Mamaearth’s IPO – A Beautiful Dream or Disaster?

    Mamaearth is an Indian company engaged in selling Health, Wellness and Fitness products.  The company was founded by Varun and Ghazal Alagh in the year 2016 and is headquartered in Gurgaon. It grew exponentially and reached a net worth of INR 115 crore in just four years.

    Mamaearth is the flagship brand of Honasa Consumer Limited, which started as a digital-first consumer brand. Its other brand portfolio includes brands such as BBlunt and Aqualogica. The brand is planning to launch an IPO and has filed the Draft Red Herring Prospectus (DHRP) with the Securities and Exchange Board of India (SEBI) on December 20, 2022.

    IPO Details of Mamaearth
    The Grey Area
    How an IPO Is Valued or Priced?
    IPO Valuation of Mamaearth

    IPO Details of Mamaearth

    The company has proposed an IPO worth INR 2900 crores.  The IPO will consist of a fresh issue of shares worth INR 400 crores and an Offer For Shares (OFS) of approximately 46.8 million shares. The funds raised through the IPO will primarily be used for improving brand visibility and advertising as well as opening exclusive brand outlets.

    The company’s founders Varun and Ghazal Alagh along with other investors like Sofina, Fireside Ventures, Evolvence India, Stellaris and angel investors like Kunal Bahl, Rohit Bansal, Rishabh Mariwala and actor Shilpa Shetty will sell a part of their stakes in the company through the OFS.

    Mamaearth's Shareholding Pattern and the Angel Investments in the Startup
    Mamaearth’s Shareholding Pattern and the Angel Investments in the Startup

    The list below gives a detailed view of the angel investments in Mamaearth.

    Angels Invested YOI Valuation
    Suhail Sameer ₹15 lakh 2016 $2 million
    Vijay Nehra ₹15 lakh 2016 $2 million
    Shashank Shekhar ₹15 lakh 2016 $2 million
    Kunal Bahl ₹69.6 lakh 2017 $5.16 million
    Rohit Bansal ₹69.6 lakh 2017 $5.16 million
    Shilpa Shetty ₹75.1 lakh 2018 $4.85 million

    The Grey Area

    There are several concerns floating on social media regarding the high valuation of Mamaearth.  The company which was valued at INR 120 crore in January 2022, is seeking a higher valuation of INR 300 crore through its IPO.  This target valuation is almost a thousand times higher than its registered profits.

    Mamaearth's Financials in FY22
    Mamaearth’s Financials in FY22

    The company does not have a consistent record of profitability.  While it posted a revenue of INR 932 crores with a net profit of INR 14 crores at the end of FY22, it registered a loss of INR 1332 crores in FY21 and INR 428 crore in FY20.  In the six months ending September 2022, Honasa Consumer posted a revenue of INR 722 crore with a net profit of INR 3.6 crore.  Apart from this, Honasa has also recorded a high advertising spend.  In FY22, the company spend approximately INR 391 crore on advertising, which is 40% of its revenue.  It has spent a similar percentage of its revenue on advertising in FY21, FY20 and the six-month period that ended in September 2022.

    All this information has led to a lot of speculation about the price MamaEarth will set for its IPO.  

    Sunil Damania, Chief Investment Officer of MarketsMojo says – “We doubt that management will go ahead with the higher price because there has been a lot of backlash on social media, especially given the amount of money Mamaearth is asking; whether you look at the market cap to sales ratio or the price to earnings ratio, which appears to be a little high.”

    Tech stocks globally are witnessing a downturn and many IPOs in the recent past have failed to maintain their initial high valuations, falling significantly since their listing.  Some prime examples include Zomato, Paytm and Nykaa.

    Sunil Damania continues – “Something similar could occur if Mamaearth opts for such a high valuation.  However, these are all speculative at the moment because neither the merchant banker nor the company has confirmed that they will proceed with this pricing.”

    Anirudh Damani, Founder of Artha Group has a different take.  He says – “I am jittery about all IPOs where more than 25% of the money getting raised does not go to the business i.e., it is an OFS from early investors and celebrity backers of the platform.  I have understood that almost 80% of this IPO will go towards OFS which does not bode well for public market investors.  It will be challenging to see any upside in the stock price with so many questions on super-premium valuation that will primarily provide exits to current shareholders.”

    How an IPO Is Valued or Priced?

    An Initial Public Offering or IPO listing is when a private company issue shares publicly in the stock market for the first time.  This is done either to raise more funds for expansion or to recover from losses or debts.  An audit is conducted for the company where all data regarding the company’s financials is carefully scrutinized.  This data includes the company’s assets, liabilities, revenue generation, market performance, etc.

    There are several methods in the IPO valuation process to define share value.  These methods are

    1. Relative Valuation through which the company’s share value is measured by considering the value of similar companies
    2. Absolute Valuation that measures the strength and financial status of the company
    3. Discounted Cash – Based Valuation that analyses expected cash flows, future performance, investment, potential revenue sources and more
    4. Economic Valuation considers various parameters like the business’s residual income, debts to be paid, assets value owned and liabilities, risk-bearing potential, etc.
    5. Price-to-Earning Multiple Valuation that compares the company’s market capitalization to its annual income.

    Mamaearth: Bringing Toxin-Free, Natural Skin Care Products To India
    Ghazal Alagh and Varun Alagh founded Mamaearth in 2016. Read on to know more about Mamaearth’s success story, business model, funding, and other aspects.
    StartupTalkyRishabh Rathi

    IPO Valuation of Mamaearth

    There are various factors that affect the price of shares offered in an IPO.  In relation to Mamaearth, these factors are:

    Financial Performance Over the Past Few Years

    Mamaearth’s financial performance has been erratic and it has not been in sustainable stable growth.

    Most of the tech stocks have failed to maintain their high valuations and have seen sharp declines in the recent past.

    Number of Stocks Issued by an IPO by a Particular Company

    The biggest concern is the OFS offer which is being seen as an exit strategy by many of the promoters of the company.

    Company’s Potential Growth Rate

    The amount raised from the IPO will be used to increase brand awareness and advertising but there is no clear direction.

    Company’s Business Model

    Mamaearth is primarily a digital-first company.  Its Return on Ad Spends (ROAS) has not improved in the last three years suggesting it has very few returning consumers.

    Recent Market Price of Companies Listed on the Stock Exchange

    Tech companies like Paytm, Zomato and Nykaa have all failed to sustain their stock prices.

    Conclusion

    MamaEarth is showing great courage by announcing an IPO at a time when tech stocks are witnessing a global slump. However, rising digital penetration, high disposable income, as well as growing awareness in the beauty and personal care segment give the company room for growth and expansion in the future.

    FAQ

    What is an IPO?

    IPO [Initial Public Offering] takes place when a private company issues share publicly for the first time in the stock market. Once the company declares an IPO, the stocks no longer remain private and are collectively owned by all shareholders.

    What are the Factors Affecting IPO Valuation?

    Here are several major factors that affect the price of the shares offered in an IPO

    • Company’s financial performance over the past few years
    • Share market trends
    • Number of stocks issued in an IPO by a particular company
    • Company’s Potential Growth Rate
    • The Recent Market Price of Companies Listed on the Stock Exchange

    How can you tell if an IPO is good or not?

    Thoroughly review the company’s business model, management credentials, and historical performance. A good starting point when evaluating the best IPO to buy is the red herring prospectus. It contains most of the information you need to evaluate the company.

    Is Mamaearth a private company?

    Yes, it is a Gurugram-based D2C babycare and skincare unicorn. Mamaearth could be converted into a public company as it readies for an IPO.

  • How to Record VoIP Calls Effectively?

    As per the report published by Persistence market research, the global VoIP market is estimated to achieve the mark of $194.5 billion in revenue by the end of 2024. Almost every small business to the big giant company is using VoIP for communication and at the same time using VoIP call recording to ensure accountability.

    Since VoIP is an advanced technology that comes with amazing features at a low price compared to traditional ones, the recording of calls is also different. Some VoIP service providers offer a call recording feature in their plans, but some offer this feature as an add-on at additional costs.

    Here in this article, you will get to know the procedure to record a VoIP call.

    What Is VoIP?
    Why Do Companies Need to Record VoIP Calls?
    Steps to Record VoIP Calls

    What Is VoIP?

    Voice Over Internet Protocol (VoIP) is a technology that enables seamless transmission of audio and video conversation over the internet. Using this technology one can easily avail the benefit of communicating with people using the internet connection. The audio or video data is converted into digital data in small data packets, then it is transmitted to the destination using the Internet network. The receiver receives this data packet combined to listen to the conversation.

    It provides the ability to make business calls from any location from any device through an internet connection. Unlike the traditional phone system, it saves a lot of money on normal calls and also on Long distance International calls.

    Not only voice calls but other mediums like video, chats, sending or receiving images, videos, and documents everything is possible because of VoIP technology. There is no boundation to stick with only one tool for communications but one can easily switch to their smartphone and make or receive a business call on it.

    Why Do Companies Need to Record VoIP Calls?

    VoIP is widely used by today’s businesses because of its flexibility and low-cost infrastructure. But while running business communication on VoIP, companies strongly need to record their every call. There are certain reasons companies do record the calls and some of the most prominent reasons are the following.

    • To prevent the business from future misunderstandings with clients. Sometimes when clients refuse their words, your call recording works as strong evidence.
    • Businesses also use call recordings for quality assurance. As a business owner, you always want your customers to be happy with your service. So it helps to ensure, no of your employees misbehaves with your customer.
    • Call recordings are also used by the companies for the training of the recruit. You might have heard the voice ” your call may be recorded for quality and training purposes” while communicating with any company.
    • It helps to reduce the legal risk if you have proof of any verbal commitment as a recording.
    • While working on a project for a client, sometimes you might require clarification from the previous conversation, and automatic call recording acts as a miracle at that time.
    Mobile VoIP Market size by Region

    Steps to Record VoIP Calls

    Coming back to the topic, below is the step-by-step process to help you to record VoIP calls. Since you can choose different software for your VoIP call recording but more or less the procedure is the same.

    Step 1: Choose the Right Software

    Choosing the right software to record calls is the first and most prominent step in our list. There could be many VoIP service providers available that are offering VoIP call recording features. Some include it in their plan while some offer it as an add-on. Here is a list of a few software providers who provide the call-recording feature.

    • RingCentral
    • 8×8
    • Nextiva
    • Vonage

    Choose any of the providers which suit your needs the best.

    Step 2: Configuration of Basic Settings

    Once you are done selecting the provider, the next step is configuring the basic call recording setting. To provide you with the context of how to use the call recording feature, we have taken the example of Nextiva.‌ Let us discuss how to record a call on Nextiva.

    Homepage

    ‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌Once you are on the homepage dashboard of the software, you need to click on the manage option under the user’s tab.‌

    User Overview Page

    ‌‌‌‌‌‌‌‌‌‌After clicking on the user’s tab you’ll enter the user’s dashboard. Here you’ll see all your users and various options to configure. Just select the desired user for whom you want to record the call.‌‌


    Click here to get Nextiva

    User Manager Page

    ‌‌‌‌Once you click on any user, you’ll find the monitoring section, under this section there is an option for call recording. Just enable this call recording option for the user.

    You’ll find this option in different places based on your service provider.

    Step 3: Configure Call Recording Policies

    After completing all of the above steps, you need to choose your desired call recording policy from the dropdown menu. Below I’ve explained these policies in brief.

    Call Recording Options

    Always On

    When this option is selected, every call for that user will automatically start recording. The user will have no control over the recordings to start, stop, pause or resume. You can select this option if you want to record all the calls without giving control to the user.

    Always on With Pause and Resume

    This option also records all the calls automatically as soon as the calls start, but this option empowers the user to pause and resume the call recording whenever he/she wants. You can select this option if you want to give some control to the user.

    Users can pause the call recording by dialling *48 and resume the paused call recording by dialling *49.

    On-demand

    As the name suggests On-demand, which means VoIP call recording will start as soon as the user initiates the call but it will automatically get deleted if the user does not place the call on hold and dial *44.

    It means if the user wants to save this call recording, then he/she needs to put the call on hold and has to dial the feature code *44. This option will give much more flexibility to users.

    On-Demand With User-Initiated Call

    When this option is enabled, calls will not start recording automatically. In order to start the call recording, the user has to put the call on hold and dial *44. Another alternative is also available, user can dial this code before making the outbound Call to record the call.

    Never

    This option doesn’t allow the user to record any of the calls. Even the user can’t record any call using any of the feature codes like*44.

    Step 4: Good to Go

    After selecting your recording policy for the user, you can select the other option which is easy to configure. Like if you want to make the announcement that the call recording is being started or stopped, then you can check the option. Similarly, you can easily configure other basic settings.‌‌

    Now you are good to go to record all your business calls. Keep in mind that I’ve taken the example of Nextiva but you can choose any provider, settings and features might be up or down but the functionality is the same.

    Conclusion

    Call recording is a widely used feature in the business. empower your business by leveraging the feature of call recording. Call recording, even today, is quite challenging if you don’t have the right tools. Follow our step-by-step guide to record your VoIP calls and run your business with full accountability. It helps individuals and companies maintain accountability for verbal commitments. Automatic call recording using your VoIP phone system helps you run a more successful business.

    FAQ

    Can VoIP phone calls be recorded?

    VoIP calls can be recorded via streaming audio recording applications. Streaming audio recorders can be useful for home-based recording.

    How do I record a VoIP call on Windows 10?

    The keyboard shortcut Windows+Alt+R allows you to record VoIP calls on your PC quickly.

    What is the best free app for recording phone calls?

    The List of some of the best software is

    • RingCentral
    • 8×8
    • Nextiva
    • Vonage

    Can we automatically record all calls?

    Some VoIP call recording software allows you to manually select which phone conversations you want to record, while others support automatic audio recordings of all phone calls.

  • A Complete List of Indian Cities With Their Unicorn Count

    Unbeknownst, the falling Indian currency 78 INR mark rate against the US dollar for the first time helped Indian marketers, that is, somehow created a smooth way to one step ahead in achieving the fifth-largest economy in India.

    As we know to excel in the business challenges, startups must take necessary actions in evolving tech, a shift in consumer preferences by adopting new product strategies, and frame objectives according to economic policies.

    Some Indian unicorns overcame the following challenges as they introduced indulgent, efficient, and customer-centric products. In this regard, India ranks as the third largest unicorn-producing country in the world, with 106 unicorns competing against the USA and China.

    Indian Cities With Their Unicorn Count: A Total of 106 Unicorns
    Bangalore
    Mumbai
    Gurgaon
    New Delhi
    Pune
    Chennai
    Noida
    Hyderabad
    Goa
    Jaipur

    Indian Cities With Their Unicorn Count: A Total of 106 Unicorns

    According to IMF sources, India has surpassed the UK in the final three months of 2021 to become the world’s 5th largest economy, following the USA, China, Japan, and Germany in 2022.

    Known for being the key pillar of the Indian economy, India’s startup ecosystem is a kick start to GDP growth, whereby the country achieved the milestone of 100 unicorns in May 2022.

    The above graph shows the countries with the maximum number of unicorns (2022) as per the data shown by Google
    The above graph shows the countries with the maximum number of unicorns (2022) as per the data shown by Google

    Bangalore

    We immediately conjure up an image of the country’s IT hub whenever we hear “Bangalore”, don’t we? Bangalore, as we all know, is a happening city in India with many tech-based companies and growing career opportunities. Bangalore is home to 43 unicorns out of 106 in India.

    The city has a nurturing ecosystem that is known for its IT sector and ability to build top tech brands. By leveraging talented fellows, adopting cutting-edge technology, connecting with opulent inventors, and collaborating with multinational R&D centers.

    Thereby, established top-most brands in achieving the $1 Billion mark within a short span and ultimately contributed 37% of unicorns of the nation in terms of leading sectors as Fintech 20% and SaaS 12% contribution of unicorns. Bangalore has earned the title of the top city in India for producing unicorns across industries like e-commerce, logistics, and ed-tech.

    Startup Name Industry Founding Year Unicorn Entry Year
    NoBroker PropTech 2014 2021
    Apna Marketplace- Employment 2019 2021
    BlackBuck Logistics 2015 2021
    Zeta Fintech 2015 2021
    VerSe Content Technology 2007 2020
    Zerodha Stockbroker 2010 2020
    Flipkart E-commerce 2007 2012
    Ola Transportation 2010 2015
    Ola Electric Automotive 2017 2019
    BigBasket E-commerce- Groceries 2011 2019
    BYJU’S Edtech 2011 2018
    Udaan E-commerce 2016 2018
    Swiggy Foodtech 2014 2018
    Glance/ InMobi Mobile Technology 2019 2020
    PhonePe Fintech Payments 2015 2020
    RazorPay Fintech 2014 2020
    Unacademy Edtech 2015 2020
    Slice Fintech 2016 2021
    Acko Insurtech 2016 2021
    Mensa Brands Financial Services 2021 2021
    CoinSwithch Cryptocurrencies 2017 2021
    Licious E-commerce Meat Products 2015 2021
    MPL (Mobile Premier League) ESports 2018 2021
    Zetwerk Marketplace- Consumer goods 2018 2021
    Groww Fintech 2017 2021
    CRED Financial Technology 2018 2021
    Meesho E-commerce 2015 2021
    Digit Insurance Insurance 2016 2021
    ShareChat Social Media 2015 2021
    5ire Blockchain Network 2021 2022
    DailyHunt Social News 2007 2020
    LeadSquared SaaS- CRM 2011 2022
    Open Fintech 2017 2022
    Hasura SaaS- Programming Tools 2017 2022
    LivSpace E-commerce Interior Design 2014 2022
    Vedantu Edtech 2011 2021
    CureFit Healthcare 2016 2021
    DealShare E-commerce 2018 2022
    Amagi Media, Advertising 2008 2022
    CommerceIQ E-commerce Management Platform 2012 2022
    Mohalla Tech (Moj) Software 2015 2021
    Postman Saas- API Development and Testing 2014 2020
    InMobi Adtech 2007 2011

    List of 108 Unicorn Startups in India | Top Unicorns in India
    India has already seen 108 unicorn startups. Here’s an exhaustive list of all Indian Unicorn Startup Companies including those that joined the unicorn club in 2022.
    StartupTalkyAnik Banerjee

    Mumbai

    In no doubt, Mumbai has earned the deserving title of ‘the city of dreams, a place where many entrepreneurs have started their careers. As is the case, Mumbai is the richest city in the country with a homeland of 72 billionaires living and contributing $310 Billion toward the GDP of the country.

    Countless startups have been launching every day in Mumbai in terms of e-commerce, Fintech, Enterprise Tech, and Travel Tech to M&E sectors thus estimating 14% unicorns in India.

    Startup Name Industry Founding Year Unicorn Entry Year
    Dream11 Fantasy Sports 2008 2019
    BillDesk Marketplace- Employment 2019 2021
    Nykaa E-commerce 2012 2020
    PharmEasy Online Pharmacy 2015 2021
    Rebel Foods E-commerce Food Delivery 2011 2021
    Upstox Fintech 2010 2021
    Eruditus Edtech 2010 2021
    upGrad Edtech 2015 2021
    BrowserStack Cloud Infrastructure and Software 2011 2021
    CoinDCX Cryptocurrency Exchange 2018 2021
    Gupshup Software 2004 2021
    Purplle E-commerce Personal Care 2012 2022
    Games 24×7 Gaming 2006 2022
    MyGlamm Personal Care Marketplace 2015 2021
    LEAD Edtech 2012 2022
    Fractal Analytics SaaS- Analytics 2000 2022
    Infra.Market B2B E-commerce 2016 2021
    CitiusTech Healthcare Technology 2005 2019
    Matic Network / Polygon Blockchain 2018 2021

    Gurgaon

    It accounts for more than 70% of unicorns in Delhi, as they are based in the Gurgaon region. The city has opened various portals for opportunities. Second-largest information technology hub and third-largest financial hub in India, Gurgaon is home to a slew of multinational corporations.

    Since it houses top IT companies and fortune 500 companies, the city has been nicknamed ‘Cyber city’. With 13% of the total unicorn percentage in India, Gurgaon stands third in unicorn production.

    Startup Name Industry Founding Year Unicorn Entry Year
    Oxyzo Fintech 2016 2022
    Mamaearth E-commerce Personal Care 2016 2021
    Spinny Automotive 2015 2021
    Mobikwik Fintech 2009 2021
    OfBusiness Building Materials 2015 2021
    Droom Marketplace- Automotives 2014 2021
    BlinKit E-commerce- Groceries 2013 2021
    Urban Company Home Services 2014 2021
    CARS24 B2C E-commerce 2015 2020
    OYO Hospitality 2013 2018
    Rivigo Logistics 2014 2019
    PolicyBazaar Insurance company 2008 2018
    Zomato Foodtech 2008 2015
    Tata 1mg HealthTech 2015 2022
    MakeMyTrip Online Travel 2000 2010
    ReNew Power Renewable Energy 2011 2017
    Pristyn Care Healthtech 2018 2021

    New Delhi

    New Delhi is not only the capital of India but lately, reformed into a new startup capital of India. Moreover, India will become the 3rd biggest economy in the world in 2022, and Delhi has become a hotspot for several startups and unicorns around India as well.

    Gurgaon and Noida are the most prominent hotspots. Delhi is now home to 10 unicorns, with an estimation of roughly 1 billion dollars. And as of 2022, Delhi-NCR has a market worth 46 to 56 million dollars. Moreover, Delhi is reported to have the most Indian unicorns in a short span, and its startup ecosystem is growing exponentially.

    Approximately 12,000 startups, 30 unicorns, and a cumulative valuation of about $150 billion could be based in Delhi-NCR by 2025, making it one of the top 5 global startup hubs. Delhi NCR contributes roughly 6.6% to the Indian unicorns.

    Startup Name Industry Founding Year Unicorn Entry Year
    BharatPe Fintech Payments 2018 2021
    Delhivery E-commerce Logistics Services 2011 2019
    Lenskart E-commerce- Eyewear 2010 2019
    ShipRocket eCommerce shipping 2017 2022
    GlobalBees E-commerce Retail 2021 2021

    Pune

    One fine feature in unicorns at Pune is women leading the start-up culture.  Pune has 3200 Startups, on the other hand, Mumbai has 3274 Startups, which may compete against each other in the future in a healthy way.

    Moreover, the Sci-Tech Park (established by the Ministry of Science and Technology, Government of India, and the University of Pune in 1986) alone has 153 startups.

    As a result of Pune’s exceptional position to support start-ups and its proximity to industry, IT, and the best academic institutions, international collaboration among start-ups has increased over the past few years. Pune’s contribution to unicorns is approximately 5.7% as of a recent survey.

    Startup Name Industry Founding Year Unicorn Entry Year
    ElasticRun E-commerce Logistics 2015 2022
    XpressBees Logistics E-commerce Logistics 2015 2022
    FirstCry E-commerce 2010 2020
    Icertis Saas- Contract Management 2009 2019
    Druva Software Saas- Data Management 2008 2019
    OneCard Fintech 2018 2022
    MindTickle Saas- Enterprise Software 2011 2021

    Chennai

    Since Chennai city has failed to invest enough in startups in the last ten years, speed has finally picked up now, with a new administration in place. In a recent study, Tamil Nadu has a well-rounded business ecosystem spanning sectors, particularly in the industrialization sector.

    However, compared to Bangalore, Mumbai, and Delhi, it still struggles to fit in. Moreover, several experts are believed to turn Chennai from Tamil Nadu into i-Tamil Nadu Technology, a hub for technology and a better startup ecosystem. Chennai as well pitches in 6.7% of the Indian unicorn sectors to the economy.

    Startup Name Industry Founding Year Unicorn Entry Year
    Five Star Business Finance Financial Services 1984 2021
    Uniphore Software Systems SaaS- Conversational Automation 2008 2022
    CredAvenue/ Yubi Fintech 2017 2022
    ChargeBee Financial Services 2011 2021
    Freshworks SaaS – CRM 2010 2018

    The above graph shows the aggregate value of Indian Unicorns in Billion US Dollars as per the source Iron Pillar India Tech Trends Volume IV Report
    The above graph shows the aggregate value of Indian Unicorns in Billion US Dollars as per the source Iron Pillar India Tech Trends Volume IV Report

    Noida

    In addition to Delhi, Noida has also bagged the title of a prosperous startup hub. The city is now a gateway for various global corporations. The city might be from Uttar Pradesh but emerged just like Delhi NCR when it comes to an industrial and manufacturing hub.

    Noida has wide roads, and expressways in addition to greeneries, and for this reason, Noida is at present an up-and-coming city with an impressive startup ecosystem.

    Moreover, it is near the Industrial Development Authority, Delhi, which makes good connectivity to the capital city, access to profitable talent, and cost-effective operations. Meanwhile, Noida extends 3.8% of the Indian unicorn sector’s income to the economy.

    Startup Name Industry Founding Year Unicorn Entry Year
    Moglix B2B E-commerce 2015 2021
    PhysicsWallah Edtech 2016 2022
    Pine Labs Fintech 1998 2020
    Paytm E-commerce Finance 2010 2015
    Paytm Mall E-commerce 2017 2018

    Hyderabad

    When there is a discussion about startup cities, Hyderabad also needs to be mentioned. Even though not many of the startups have turned into unicorns here, the number of budding startups here is quite high.

    In the span of 3 years, from 2019 to 2021, approximately 933 startups were created here. It is not wrong to estimate that some of the smartest startups have been based in Hyderabad. And when it comes to unicorn startups, Hyderabad is home to 3 unicorns in India.  

    Startup Name Industry Founding Year Unicorn Entry Year
    Darwinbox SaaS- HR 2015 2022
    Highradius Fintech 2006 2020
    Zenoti Saas- Spa and Salon Services 2010 2020

    The above graph shows the percentage of Indian Unicorns based on the different geography as per Iron Pillar India Tech Trends Volume IV Report
    The above graph shows the percentage of Indian Unicorns based on the different geography as per Iron Pillar India Tech Trends Volume IV Report

    Goa

    Goa is highly acknowledged for its natural component. However, the government there is keen on making it a startup destination across India. Undoubtedly, Goa is home to many small and large startup businesses. Apart from that, Goa is also home to health based unicorn startup named Molbio Diagnostic.

    Startup Name Industry Founding Year Unicorn Entry Year
    Molbio Diagnostic HealthTech 2010 2022

    Jaipur

    The Pink city of India also provides a suitable culture for numerous startups to grow in it. The Ecosystem of Jaipur Startups is ranked at 7th position in India and 212th position globally. Jaipur is now home to one Indian Unicorn company and has many more coming in the future.

    Startup Name Industry Founding Year Unicorn Entry Year
    CarDekho E-commerce Automotives 2007 2021

    Conclusion

    On the whole, India has over 106 unicorns, all segregated in cities like Delhi, Bangalore, Chennai, Gurgaon, Noida, Hyderabad, Jaipur, Goa, and Mumbai. So far, India has globally earned recognition for its unicorns, and this may be one of the reasons why India is ranked third in the world economy.

    FAQs

    Which Indian state has the most unicorns?

    Karnataka is home to the maximum number of unicorns.

    Which city has the most unicorns?

    Bengaluru has the most number of unicorns.

    Which country has the most unicorns?

    The United States has the highest number of unicorns in the world with a tally of 865 unicorns followed by China with an account of 224 unicorns.

    Which is India’s 100th unicorn?

    The 100th unicorn of India is a neo-banking platform named “Open”.

  • Playboy Magazine – The Rise and the Eventual Fall

    Any big brand that you see hoarding, was once an idea and nothing else. An idea that was conceived by a single person and then spreads into becoming a multi-million or a billion-dollar business. Examples may include Apple, Google, Microsoft, and the like. This is an article about one such brand which was so famous that it built a cult. Starting from an idea in a person’s brain to a million-dollar lifestyle brand. Although the business saw its share of ups and downs, it survived multiple decades and stood robustly while dying slowly.

    The name is Playboy, which is not even an Indian brand, it never operated in India but we know, you know about it. A foreign brand started off with a simple business that eventually turned into a big company that offers lifestyle goals to people. Playboy was everywhere at the beginning of the company, there were magazines, merchandise, and everything that made it sculpted into the culture of the general public. At one time, the company even sold 7 Million copies of an issue, which was a record-breaking number. It felt as if Playboy was just everywhere and in reality, it was.

    In this very article, we will go on to explain the rise and the eventual fall of this big company, as the magazine’s sales went to just four percent of what it was before. We will discuss what it offered to the public and what it sold in the beginning and how it came about in the future and established itself as a lifestyle brand. Let us read.

    Playboy – The Beginning
    The Mid Shift
    Competition Factor
    The Spread of Playboy
    The 1986 Dip
    Afterwards
    Quick Facts

    Playboy – The Beginning

    The idea of playboy was conceived by a person named Hugh Hefner. Hugh was a copywriter by profession but to do something different was listed on his deep to-do list. It was in the year 1953 when Hugh got this crazy compelling idea of an adult men’s magazine which did not exist at that time. He immediately started working on the blueprint and the topics that the magazine could potentially cover. In the same year, he went on to talk to investors about his idea and executed this idea into reality. That hard work bore fruit.

    In 1953, Hugh Hefner got successful in accumulating forty-five investors for his idea of a magazine. All of them added to a pool of initial funds that amounted to about 8000 dollars in those times. This was the beginning of something that even these people were unaware of.

    Due to a lack of resources, in the beginning, Hugh wrote and published the first version of the magazine from his apartment. Pulling together all the pages of the magazine on his kitchen table. These were the circumstances around how the first ever Playboy magazine was published. It was December of 1953 and this is nothing short of iconic. Let me add one more fun fact, the first ever model to star in an adult magazine was Marilyn Monroe, who was never paid. Interestingly, she didn’t even say yes to photographing her for the magazine. Hefner bought those photographs of Marilyn from her past struggling days under a fake name and then published her nudes in the magazine. This was how Monroe starred in the first-ever playboy magazine in the world. This first line of the issue of the magazine, sold over 70000 copies and was widely accepted and welcomed.

    The Mid Shift

    After the successful issue of the first-ever magazine of Playboy, there was no looking back and Hefner knew it. He knew that this magazine has the potential to grow out of the perception of a magazine with photos of naked women on it. With this thought in mind, Hefner went on to rediscover new and new articles that made the public woo over future issues. For instance, Playboy went on to introduce a section in their magazine known as ‘Playmate of the Month’. This section was updated every month and featured women who were sort of crowned as the hottest women. These women had one thing in common, all of them were not fashion models or actresses. These playmates were regular normal women that could be your secretary, laundry woman, or anyone that was not so distant from your eyes. This re-edition was hugely famous and was accepted and welcomed by many. Thus, playboy sold millions of copies with these efforts of regular sexiness.

    By now, one might think that Playboy was solely playing on the premises of a magazine with naked women. That is not completely true. In the later issues, after the beginning and establishing itself, Playboy got on the literary train. They were not just a collection of adult pics but also some exquisite magazines of literary excellence.

    Competition Factor

    Penthouse came into the market of adult magazines and tried to shift the wind. They did not go far. The primary reason for this was the fact that playboy was able to get the cream of the crowd. It was there first in the line and was able to develop the taste buds of its readers. They were successful in generating the first group of people who would read these issues. So with a good chunk of the crowd that read Playboy magazine, they were able to get more and more customers. This can be capped in by saying that ‘nothing attracts a crowd better than a crowd’. In the case of Playboy, they have already established itself as a lifestyle brand that focuses on adult entertainment.

    Another reason for playboy’s fame was the fact that there were not many players in the market. ‘Penthouse’ was a good attack but eventually faded out and remained low in the market. There was not some serious threat to the business they were doing. So with minimal competition, Playboy was able to influence culture in its favour.

    All these factors led to a boom in the sales of the magazine. Every day was a new day for Hugh Hefner and the team at Playboy. As responsibilities grew, the team grew in numbers too. Subsequently, in 1972, they published the best-selling issue ever. The issue of 1972 was sold 7 million times, which was a massive number.

    The Spread of Playboy

    After the first issue and then the subsequent issues, it was clear that playboy was something out of this world and was going to be a big venture. This was thought by Hefner just in time. So he knew beforehand that they had to venture out of the magazine. They will continue the magazine but they will also step out into the real world with other businesses. Walking on these footsteps, they ventured to new spaces and began exploring with every caution.

    The first notable thing that they did was establish a club. An exclusive club that embodied whatever the company Playboy had established by then. The club was known as just the ‘Playboy club’ and the magazine was also immensely popular. In the very first year, the club welcomed 50000 members which were nothing less of a rage. These Playboy clubs were famous for the ambience they gave and the special bunnies that waited for customers. Bunnies were literally everywhere.

    Slowly and steadily the number grew. Playboy went on from just one club to having twenty-three clubs all over the world. The people who joined these clubs were not only playboy fans but they loved the iconic bunnies too. So what do we mean by a bunny? These playboy clubs had unique dresses for women waitresses (the only gender at work) which looked like bunnies. These outfits were bunny outfits and these women were trained to do some waiting tricks that were strongly specific to Playboy magazine fans and the clubs in town.

    An excerpt from an interview with a former bunny waitress –

    Bobbie Walters: It was an incredible place to be. It was magical.

    Kim: That’s Bobbie Walters. She worked as a Bunny at the Playboy Club in New York City and, later, in Miami.

    Walters: In New York City, there were 100 girls there. There were six different floors. So you could enjoy a show, you could enjoy a gourmet dinner, or you could dance to disco music, or you could just go down into the Playmate bar and have a drink.

    Kim: As for what it was like to work as a Bunny…

    Walters: The training was one week long. Once we got to the Playboy Club and got on the floor, we learned how to do the Bunny Dip.

    (Bunny dip was a waiting trick where the waitress used to almost sit on the table and at the same time serve the drink to the table)

    However, this was not the only dip that these bunnies were to face.

    The 1986 Dip

    In 1986, the last Playboy club was shut down and was sealed forever. This news did not come right to the mouth, there were months of speculation and there were years of the reason behind this shutdown. The reason for these closures was money issues. Like every other business, this business too was eating a lot of money and was not able to produce output that was greater than the input. Surely, Playboy was iconic, the bunnies were iconic and the theme and vision were all working, the clubs just shut down due to a mix of issues.

    Around the 1980s there was a rise in gender advocacy. People started realizing that women are not respected and dignified enough and they knew that something had to change. Women were seen as much more than just housewives and chore doing gender, they were respected in every dimension. Soon enough groups and societies of people were formed that were empowering women. This social change along with political change at those times lead to diminishing returns for the playboy franchise. They continued the magazine business and merchandise but renounced the clubs.

    This was not all, in fact, the magazine business was also hit. In addition to women’s empowerment, there was this slow rise in the video porn industry, which was of course giving out tough competition to the paperback magazine that men wanted to buy.

    Apart from the social and political and scientific approach, there was a problem that even playboys did not see. The adult magazine did not ride on the train of the internet. The rage of the internet was not visible from the Playboy headquarters. They did not move fast toward the online fever, which really turned out to be a good big opportunity cost.

    Afterwards

    As the sales and revenue were sinking for the brand, Playboy tried to move hands furiously. They began to analyze their markets and tried to reorganize. They found out that China was a big market for the merchandise but the authorities had cut down on all the magazine sales of the brand. They also analyzed other markets to find new areas that they could jump into but they found very few areas where they could fit in, with their brand image. But Playboy was sure of some changes.

    They made a reality TV debut. Yes, shockingly, Hugh jumped into the catastrophe with this idea. They commenced a TV show which showcased the life of Hugh Hefner with his then-three girlfriends and live-in partners. The show aired in about One hundred and fifty countries and had a good run. The response was satisfactory and thus, they managed to pull up six seasons for the show that showed off their lifestyle.
    In the early 2000s playboy finally got a mix with the culture and since then they have been playing it like that. Burning money to keep the brand alive. The merchandise and the magazine is still the prime source of income that keeps the brand afloat. The original magazine lineup still continues up to this day, they are read and loved by fans worldwide.

    Quick Facts

    • Donald Trump once starred on the cover of Playboy. He is really proud of that.
    • Hefner died in 2017 and since then, there have been speculations about revenue losses and internal failures.
    • Playboy has a goddamn private jet that anyone who can afford can use.

    Conclusion

    The brand playboy has seen its share of the highest ups and the steepest falls. Beginning just from an idea in Hugh’s brain world, to being an actual million-dollar machine that still runs afresh. The iconic brand still is able to influence culture and the word playboy is as famous as Rolex now. Albeit the fact that the business is sinking and there are question marks on the profitability of the same, the adult magazine brand continues to give goosebumps to the followers.

    FAQs

    Who is the CEO of Playboy?

    Ben Kohn is the CEO of Playboy.

    When was the Playboy Mansion sold?

    The Playboy Mansion was sold on August 2016 to Daren Metropoulos.

    When did Playboy issue its last print magazine?

    Spring 2020 was the last print magazine by Playboy.

  • Dall-E vs Midjourney – Comparing Two Revolutionary AI Tools

    AI is no longer a future concept, it is happening now. Technology has evolved a lot and is still growing rapidly. AI has fueled growth by making tasks easier and faster. Dall-E and MidJourney, both are AI-based text-to-image generators that hold the capability to generate mind-blowing digital images just by taking input from you.

    Isn’t it fascinating that you’re just typing something and AI is providing you with the desired images? Actually, it’s really cool stuff to explore and learn.

    Both Dall-E and MidJourney do the same thing which is to generate images from the user query, but certain factors differentiate these two. Here in this article, we will compare Dall-E and MidJourney, so read the whole article and update your knowledge with the latest technology.

    Comparison Between Dall-E and Midjourney

    Comparison Between Dall-E and MidJourney

    AI Image Generators have become the next big thing on the internet. As both are best-known and arguably the most advanced image generators, both of them have the potential to provide you with great results.

    Let us look into the different aspects such as their development, pricing, art quality and others. of  MidJourney and DALL-E to compare and decide which one is the best among these two.

    Development Journey

    Dall-E is an AI system developed by OpenAI, a research laboratory headquartered in san-Fransisco. OpenAI was started by Sam Altman and others in late 2015 to develop AI-based solutions that solve different tasks and make human life much easier. Dall-E is one of the AI solutions by OpenAI that renders services for image creation.

    It is a large language model that was trained on a dataset of text and images, which can generate images from text descriptions, a process known as image generation or image synthesis. It is a 12-billion-parameter version that uses text-image data sets to generate an image from text.

    On the other hand, MidJourney is also an AI-based solution developed by an independent research lab that renders the same services as Dall-E does. Since the intention behind the development of AI is the same, which is to train the AI and make them capable of solving complex real-life problems with ease.

    MidJourney has emerged as a solution that creates realistic images of any input you provide. It is in the beta phase and continuously learning and upgrading with new features and capabilities. To save the interest of Artists, MidJourney also included DMCA takedown policy in their terms of service. This will empower the artists to request the removal of any art piece if they feel it is violating copyright.

    Performance and Capabilities

    Dall-E

    A lot of training with datasets undergoes to train the system to consistently improve the performance and capabilities. Dall-E uses text descriptions in natural language to create high-resolution images and art pieces. Different attributes, concepts, and styles are mixed and matched to deliver the best results and performance.

    Dall-E edit

    On the 6th of April 2022, OpenAI launched the upgraded form of Dall-E with the name Dall-E 2. The concept of photorealism became more advanced and efficient with Dall-E 2 which can create realistic art using the data in the caption. The functionality of creating an image is general in Dall-E 2, but on top of that, it can also add some extra information on the existing image and also create different variations of the given images on the basis of the input you provide.

    Dall-E uses a technology called Clip (Contrastive language image pre-training)  for digital photosynthesis, which is developed by OpenAI. It helps to match the images with their corresponding caption in the best possible way, in simple words it works on text and image pairs. The process of text embedding and image embedding takes place to produce the best result from the given caption.

    MidJourney

    On the other hand, MidJourney also offers great performance and provides high-quality realistic art from natural language commands. By continuously upgrading the technology and removing the flaws in the system, MidJourney has evolved its capabilities a lot from Version 1 to Version 4.

    Every week and month, it releases some updates in the system that further improves the efficiency of the AI. If you compare the results produced by the previous version with the latest version, the image details in the latest version are top-notch with more clarity.

    In the previous version if you search “Alien spaceship over the futuristic city”, you’ll find the image with the spaceship but the placement of the spaceship was not well, even the futuristic city was also looking somehow messy. The latest version improved these flaws, now if you search for the same query, you’ll find a picture in which the spaceship is hovering over the city and even the city also looks much more realistic.

    Hence, the performance and capabilities of both AI-based systems are pretty much similar and deliver the best result in creating high-quality images.

    Quality of Art

    Creating an image undoubtedly becomes easy with Dall-E and MidJourney, both deliver exceptional quality and still improving with different updates. Here we have compared the quality of Art created by Dall-E and MidJourney. We have passed the same input which is ” ships sailing in a stormy sea” and get the below result.

    Comparison in Art Quality of Dall-E and MidJourney

    The left-hand image is created by MidJourney which looks clear and detailed, it recognizes the query very well and renders each keyword efficiently to provide the result. A stormy sea looks cool in the first image with every minute detail like the atmosphere is harmonized with the image providing a look of stormy weather.

    On the other hand, Dall-E has also generated the image of ships in stormy weather, but the image looks simple compared to the MidJourney image. The weather is normal and there is not much effect of the storm visible. It looks like ships in the sea and nothing more.

    Hence, we can say that MidJourney is more precise and accurate in creating images compared to Dall-E. But still, they are in the beta phase and continuously evolving, so it’s too early to judge the quality.

    User Interface and Accessibility

    Dall-E

    In order to use the Dall-E you need to create an account with OpenAI by visiting their official website and clicking on the signup button. You can choose your email address and password to create an account or simply use your existing Gmail account to create an account with OpenAI. After that, you also need to verify your mobile number to continue further.

    Once you complete your signup process, you will get 50 credits for free in your account in the first month and also get 15 credits every month, which you can use for creating an image in Dall-E. Now you’re ready to generate images from a description of natural language.

    In the search bar, you can input your imagination via query and the algorithm automatically generates the best outcome based on your search query. Mix and match the images and try different variations to get the best result from your search. You can also upload an image and suggest any changes to it through your command to create a unique piece of art.

    MidJourney

    MidJourney is currently operating on the discord server only, so to use MidJourney you need an account on the discord. First of all, you need to visit the website of MidJourney and click on the join beta program. After this, you need to accept an invite to the discord server from MidJourney. Now open your discord app and click on the boat shape icon of MidJourney, you can join any newcomer room with the name “newbie”.

    Use the prompt /imagine and start creating images from your imagination and get the result from MidJourney. The more precisely you give the input into the command the more accurate result you’ll get. You can also upload your image and apply different variations to it, this will change your existing image to a new modified image based on the changes you want.

    Price Comparison

    Dall-E

    When you just signup in OpenAI, you’ll get 50 credits for free to generate images in Dall-E and also get 15 credits every month. On top of that, you can purchase additional 115 credits for $15 if you are out of credit. This credit will get utilized every time you hit a search prompt and try different variations.

    Suppose you enter a search query “A girl looking at the moon at night” and hit the generate button. This will create some pictures for you, if you select any picture and try out different variations of the picture then also your credit will get utilized. In this example, one credit is used when you generated an image and one credit is used when you tried out a variation, hence you consumed two credits from your account.

    MidJourney

    The pricing plan for MidJourney is a little bit confusing for beginners as compared to Dall-E because it contains several plans and uses algorithms. Let’s compare each of them one by one, but before comparing the plan you need to be clear about certain terminologies like fast GPU time, relaxed GPU time, and private visibility.

    Fast GPU time: Whenever you enter any prompt for an image creation it will take GPU resources to render the image, the time taken by the GPU to render the image depends on the complexity, details, quality, and more. So fast GPU mode reduces the time to render the images and gives the output as fast as possible.

    Relaxed GPU time: In relaxed mode, GPU doesn’t take your work as a priority and takes its time to render the image.

    Private Visibility: your created images are visible to the public unless you put them into private. Your images will be on the server but visible only to you.

    • Free trial: when you sign up in MidJourney for the first time you will get 25 min/Lifetime fast GPU time. If one image generation takes around 1 minute of time then you can generate 25 images for free with this plan. Keep in mind that every time you generate an image or variation, it will take GPU, hence you’ll be charged minutes while generating a new image and also while creating a variation.

    Relaxed GPU time and private visibility are not provided in the free plan.

    • Basic: You’ll charge $10/month when you opt for this plan. In this plan, you will get 200 min per month of fast GPU time and a personal bot Chat. Relaxed GPU time is still not available in this plan but you can opt for a private visibility feature by paying $20/month additional.
    • Standard: In this plan, you’ll get 15 hrs/month at $30/month inclusive of relaxed GPU time. But in this plan also you need to purchase the private visibility for $20/month if you want.‌‌

    Also, for both the Basic and Standard plans you can purchase additional time if you are out for the given time in your plan. It will charge $4 for 60 minutes.

    • Corporate: This plan is best suited for big design companies that need to generate many art pieces and images. For $600/year, you’ll get 120 hrs/year of fast GPU time and unlimited relaxed GPU time, additionally you’ll get private visibility and a personal bot at no extra cost.

    Comparison of Features

    Features of Dall-E

    • Quick edit of the uploaded image based on the changes you want.
    • Different variations to explore and choose from.
    • Dedicated collection to store generated images in public or private folders.
    • Full usage right to commercialize the created image.
    • Already ensured safety before launching the beta version of Dall-E.

    Features of MidJourney

    • Anyone can join the beta program by using the discord link.
    • Different variations and high-quality images.
    • Diversified pricing plans.
    • Availability of Fast and relaxed mode.
    • Can upload an image and make changes.

    Conclusion

    AI has made work easier and effortless, but still, this technology is evolving and developing. Dall-E and MidJourney both of them are outstanding AI tools that help to generate realistic images through natural language. So, join their beta program and explore the new height of AI.

    FAQ

    Which is better DALL-E or MidJourney?

    DALL-E creates more real-looking images whereas MidJourney is more on different art styles.

    Can you use DALL-E images for free?

    DALL-E 2 is currently free to use, but there is a catch. For the first month, you are allotted 50 free credits to use and 15 free credits after that.

    What type of AI is MidJourney?

    MidJourney is an independent research lab that produces a proprietary artificial intelligence program under the same name that creates images from textual descriptions, similar to OpenAI’s DALL-E and Stable Diffusion.

    How does MidJourney actually work?

    MidJourney is currently only accessible through a Discord bot on their official Discord, by direct messaging the bot, or by inviting the bot to a third-party server.

    ‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌

  • Top 10 Successful Australian Startups

    Australia ranks among the leading countries for startups worldwide. With a score of 22.45, Australia ranks the 8th best country for startups in 2022. Its physical infrastructure, internal market dynamics, and commercial and legal infrastructure are favorable to the startup environment.

    Australia is known for its diversified and technologically advanced economy. Australia continues to encourage the development of several local startups nationally with an international launch. It is also considered one of the quickest countries in the world to start a business. Thus the startup ecosystem in Australia is now one of the fastest-growing globally, with the startup rate being one of the highest in the world.

    Venture Capital Fundraising in Australia from 2010 to 2022
    Venture Capital Fundraising in Australia from 2010 to 2022

    As of August 2022, the value of Australian-based venture capital funds was over $539.34 million and around $331.73 million in 2021. With an innovative approach, the startups have gained global market reach taking pride in their “Unicorn” status which is worth more than a billion US dollars. For a more elaborate view, let’s take a look at our favorite startups, piling up more information on each company and its counterparts.

    Judo Bank
    Canva
    Spaceship
    Uno
    99Designs
    Go1
    Lendi
    Power Ledger
    Assembly Payments
    Employment Hero

    Judo Bank

    Founders Alex Twigg, Chris Bayliss, David Hornery,
    Jacqui Colwell, Joseph Healy, Kate Keenan,
    Mal Hiscock, and Tim Alexander
    Founded in 2016
    Headquarters Melbourne, Australia
    Industry Financial services
    Total Funding 1.8 billion over 9 funding rounds
    Valuation $970.1 Mn (2022)

    Judo Bank Co-founders | Joseph Healy and David Hornery
    Judo Bank Co-founders | Joseph Healy and David Hornery

    Judo Bank is an online business bank backed by the SME Guarantee Scheme. With a team of dedicated officials, Judo Bank develops a trustworthy relationship with the proprietors and their SMEs. It provides financial assistance and business loans imperative for each SME. As business is all about striking while the iron is hot, Judo Bank helps SMEs to back their ideas with the funding they need.

    Canva

    Founders Melanie Perkins, Cliff Obrecht, and Cameron Adams
    Founded in 2013
    Headquarters Sydney, Australia
    Industry Graphic design Software
    Total Funding $572.6 million over 14 funding rounds
    Valuation $26 billion (2022)

    Canva Founders | Cliff Obrecht, Melanie Perkins, and Cameron Adams
    Canva Founders | Cliff Obrecht, Melanie Perkins, and Cameron Adams

    Canva is the world’s most inclusive graphic design tool that can be used to design and work more seamlessly. Be in logos, web pages, brochures, presentations, social media graphics, business cards, etc. Canva is the most productive digital creator. Available in over 130 languages and on any device, the users can start with one of Canva’s 250,000+ free templates and see where their creativity takes them.

    Spaceship

    Founder Kaushik Sen
    Founded in 2016
    Headquarters Sydney, Australia
    Industry Fund-investing platform
    Total Funding $54.58 million over 3 funding rounds
    Valuation $360.82 Mn (Jun 2022)

    Spaceship Founder Kaushik Sen with Paul Bennetts, Andrew Sellen, and Dave Kuhn
    Spaceship Founder Kaushik Sen with Paul Bennetts, Andrew Sellen, and Dave Kuhn

    Spaceship is a fund-investing platform designed to help the younger generations to invest in their future. Spaceship offers two portfolios to its customers-Origin and Universe.

    Origin is somewhat similar to an index ETF, however, it is not market cap weighted. It invests in 100 Australian and 100 International companies. The minimum fee is 5$. On the contrary, The Universe is more of an active fund. The investment philosophy is based on WWG’s “Where the World is going” principle.

    Companies are screened on factors like market cap, future growth potential, management, and even liquidity among other things. The minimum fee is 1$ P/A. With companies such as Amazon, Google, Facebook, and more. Spaceship guides the users to invest in a curated global portfolio.

    Uno

    Founder Vincent Turner
    Founded in 2016
    Headquarters Surry Hills, New South Wales, Australia
    Industry Financial Services
    Total Funding $36.86 million over 7 funding rounds
    Valuation –

    Uno Founder | Vincent Turner
    Uno Founder | Vincent Turner

    Uno is one of the world’s most authentic platforms that facilitates users with better financial decisions. The best part is that Uno offers online tools to compare loans so that the interest rate does not affect the cost of loans. Whether it is to buy real estate property or to avail of a new loan, Uno can assist with better guidance.

    99Designs

    Founder Mark Harbottle
    Founded in 2008
    Headquarters Melbourne, Australia
    Industry Design Services
    Total Funding $45 million over 4 funding rounds
    Valuation Acquired by Vista Prints for an undisclosed amount

    99designs Founder | Mark Harbottle
    99designs Founder | Mark Harbottle

    99designs is an online platform where you can find designers for clothing and merchandise, art and illustration, packing and labels, magazines, flat-out logos, etc. A bunch of logo designers will throw their hats on their rings and develop various designs based on the specifications you outlined.

    However, the whole idea is to have a plethora of options to choose from. The minimum price is $299. Besides collecting briefs from customers online, 99designs offers the services of its community of professional designers to deliver the client’s requirements at the earliest.

    Go1

    Founder & CEO Andrew Barnes
    Founded in 2015
    Headquarters Brisbane, Queensland, Australia
    Industry E-Learning Providers
    Total Funding $373.25 million over 10 funding rounds
    Valuation $2 Bn+ (2022)

    Go1 Founder & CEO | Andrew Barnes
    Go1 Founder & CEO | Andrew Barnes

    Go1 is one of the most dedicated platforms wherein companies get curated training courses from the world’s skilled training institutions for their employees. It is easily accessible and is one of the ruling eLearning library learning and education that has been famed across countries such as Australia, the United States, South Africa, Vietnam, the United Kingdom, and Malaysia.

    Lendi

    Founder Martin Lam
    Founded in 2016
    Headquarters Sydney, New South Wales, Australia
    Industry Financial Services
    Total Funding $57.38 million over 4 funding rounds
    Valuation –

    Lendi Founder | Martin Lam
    Lendi Founder | Martin Lam

    Lendi is one of the most reliable online platforms for home loans. Here, users are allowed to choose home loans freely from more than 25 major lenders. Facilitating the acquisition of houses and refinance loans, Lendi thereby negotiates better loans for its users and also empowers them through its online tools and a team of experts.

    Power Ledger

    Founders Dr. Jemma Green and John Bulich
    Founded in 2016
    Headquarters Perth, Western Australia, Australia
    Industry Software Development
    Total Funding $35 million over 2 funding rounds
    Valuation $57 Mn (2022)

    Power Ledger Founder | Dr. Jemma Green
    Power Ledger Founder | Dr. Jemma Green

    Power Ledger is a tech company that has developed a blockchain-enabled renewable energy trading platform. With market abilities, the company has built a series of products to enable energy trading, renewable asset financing, and moving efficient carbon and renewable carbon credits transactions.

    Assembly Payments

    Founder and CTO Simon Jones
    Founded in 2013
    Headquarters Victoria, Australia
    Industry Technology, Information, and the Internet
    Total Funding $12.25 million over 8 funding rounds
    Valuation –

    Assembly Payments Key People
    Assembly Payments Key People

    Assembly Payments is a complete payment gateway that helps businesses manage payment workflows and move funds without any delay. Perhaps it is the perfect way to capture credit cards without a lot of coding on the user’s side. However, Assembly is committed to going beyond excellence to deliver a highly secure system, that meets regulatory standards.

    Employment Hero

    Founder and CEO Ben Thompson
    Founded in 2014
    Headquarters Sydney, New South Wales, Australia
    Industry Human Resources Services
    Total Funding $290.93 million over 7 funding rounds
    Valuation $837.45 Mn(2022)

    Employment Hero Founder & CEO | Ben Thompson
    Employment Hero Founder & CEO |  Ben Thompson

    Employment Hero is the best HR software that Australia has to offer. With Employment Hero, SMEs can easily manage HR payroll, employee engagement, and benefits. Along with a team of experts, it has a wide range of products and services lining up for hassle-free compliance with minimum paper works and delivers better employee allowances.

    Conclusion

    The economy of Australia is growing by leaps and bounds with the technological advancements of its rising startups. While some are fast-moving for completion, others are balls against walls, however, predominantly focused to become the next market leaders.

    The series of startups focusing on and winning economic dynamism implies several industries and businesses, but the importance of tech startups is limpid, as enormous companies are either cloud-based platforms or software-based. From professional forums to Financial Technology and from e-commerce to Artificial Intelligence (AI), Australia is no easy feat.

    FAQs

    What industries are booming in Australia?

    Manufacturing Industry, Healthcare Industry, Energy Industry, Food Industry, and Technology Industry.

    How many startups fail in Australia?

    20% of businesses fail in their first year in Australia.

    What is the biggest industry in Australia?

    Consumer Goods Retailing in Australia is one of the biggest industries in Australia.

    Which country has the most startups?

    The United States has the most startups, i.e. more than 70,000 active startups. With a total score of 195.37, the US was by far the best country for startups in 2022.

    How many startups are there in Australia?

    There are over 1800 startups in Australia.

  • A Complete Guide for HR Outsourcing

    Human resources are undoubtedly the most valuable asset a company can have. HR outsourcing is an emerging trend in multiple industries post-2020 global pandemic. For many businesses, spending time, money and energy on internal human resources seems counterproductive. Monthly tasks like payroll and tracking hours eat into time that could be spent on company growth. Management is essential for the success and long-term growth of any business. HR outsourcing companies can manage all sorts of critical human resources and handle some or all of the company’s HR tasks.

    The HR department was overworked and tired due to the constraints posed by the COVID-19 pandemic. The idea of ​​outsourcing HR activities came about to relieve HR teams from important but time-consuming tasks. If you’re considering outsourcing your human resources department, there’s a lot you need to know before finalizing the decision.

    This article will help you with all the necessary information that you require to outsource your HR department.

    What Does HR Outsourcing Mean?

    HR outsourcing is the practice of hiring third-party enterprises to handle the HR activities of a company and its administrative tasks. Human resources outsourcing can cover a broad spectrum of services, from day-to-day HR functions to long-term, strategic initiatives. In most cases, it is a contractual agreement between the organization and the third-party service provider where the organization transfers the responsibility of managing certain aspects of its human resources to an external entity.

    Which HR Functions Can Be Outsourced?

    The HR service provider provides almost all HR solutions but not all HR functions can be outsourced. Outsourcing functions can involve a loss of control and imbalance in the organisation. Therefore, it is good to know which tasks are worth outsourcing and which are not. Some of the HR activities that can be safely outsourced are:

    • Talent acquisition
    • Background and reference checking
    • Payroll processing
    • Time tracking
    • Performance management
    • Risk Management
    • Work Place Safety
    • Employment and Lobor Law Compliance
    • Employee counselling
    • Employee relations
    • Employee benefits administration

    How Does HR Outsourcing Help an Organization?

    Ideal for Small Businesses

    Most small businesses benefit from HR outsourcing. This saves money and time. For example, maintaining a full HR department may not be feasible for a small business.
    Hence, taking the services of a Professional Employer Organization (PEO) may be the best option. A specialist PEO can take care of all the HR functions required by a small business, including payroll compliance, benefits and evaluation, and compliance with labor laws and regulations.

    Enhances Efficiency

    Outsourcing HR functions can improve the efficiency of the business. Many human resources functions require specialized knowledge, such as formulating employee policies and developing payroll.

    Outsourced HR has a centralized HR portal where employees can quickly access all their information, upload documents, and get a clear understanding of company policies. This allows the company managers to ditch the paperwork and instead focus on crucial revenue-generating tasks and analyse employee performance for better outputs. Thus, all employees in the company function at peak efficiency doing core business tasks while the outsourced team manages the HR functions.

    Laws and regulations relating to human resource practices change regularly. Therefore, it can be difficult for companies to keep track of all such changes. Professional HR consultants come with a large experience in managing legal matters. Moreover, updating employee policies and benefits according to the revised regulations and industry-standard is vital but tiresome. These activities require hours of research and understanding of the complex legal scope. Outsourcing professional HRs shields the employer from sticky legal situations such as investigations, disciplinary actions, and complications that may arise with certain employees.

    Streamlines Recruitment Process

    The most important block for any organisation is a skilled employee. Talent recruiting requires years of experience and an in-house HR team may not have all the attributes of good HR management. HR agencies work closely with professional job portals and are better placed to find talent than the in-house HR department. These agencies allow the organization access to a wider and more qualified talent pool. As a result, companies can choose from a broader spectrum of experienced and highly skilled people.

    Talent recruitment agencies are more in line with industry standards in terms of benefits and compensation. Organisations can rest assured that recruiters are neither underpaid nor overpaid which directly impacts and helps to ensure employee satisfaction and retention.

    Helps to Focus on Core Competence

    As a business grows, the focus shifts from core to peripheral areas like HR. With outsourcing HR functions, companies can return to what they can do best, which is their core competency. It is most beneficial for companies to outsource their non-core competencies and focus on the more strategic aspects of HR such as new program creation, competencies, performance management and workforce management. By outsourcing, companies may allocate their efforts toward more strategic initiatives.

    What Are the Drawbacks of HR Outsourcing?

    Data Security at Stake

    Whenever HR functions are outsourced, sensitive employee information, social security numbers, and bank account details are exposed to risk. In addition, there can be the possibility of data leakage, data theft, or data loss due to server failure.

    Lack of Control

    Businesses employing a third-party enterprise to deal with HR issues may develop a barrier between the employer and employees. HR staff knows what makes your employees happy and how your workplace operates. As a result, organizations may lose direct contact with their employees, leading to communication gaps and employee dissatisfaction.

    No Cost Limits

    One of the biggest disadvantages of outsourcing HR is to balance cost and performance quality. Finding a quality HR provider within your budget is a struggle. Budget issues are one of the most difficult issues to deal with in international business.  One can hire an affordable HR service provider, but there’s always the risk of decreased performance quality which directly affects the business and may have to suffer a loss.

    Lack of Customized Services

    HR agencies can offer efficient HR solutions, but they may not be good at providing customized solutions. If a company needs a unique organization-specific HR policy, outsourced firms may not do that efficiently. They usually offer a standard service for most of their customers. For company-centric policies and hiring procedures, they may ask for additional charges.

    Conclusion

    Several companies are offering outsourced HR solutions. You may want to outsource the entire HR department or a single function; choose the HR expert and agency per your need, budget, and compatibility.  By having someone else handle all of the paperwork and administrative tasks associated with HR, your HR team can focus on its core functions.

    FAQs

    Is outsourcing HR a good idea?

    Outsourcing is considered an effective exercise in cost and time management, especially for small businesses.

    What do HR Outsourcing companies do?

    These companies offer HR-related services to their clients. Companies often resort to outsourcing their services when they cannot conduct those functions competently in-house.

    HR Outsourcing handles important but complex services pertaining to human resources like payroll processing, recruitment, training, benefit plan management, and more.

    Which are the Best HR Outsourcing Service provider for Small Businesses?

    Companies such as CoAdvantage PEO, Bambee, Zenfits, Workday, and Trinet are best suited for small businesses.

    Which are the leading HR Service provider companies?

    Rippling, Paychex, ADP, Insperity, Engage PEO, G&A Partner, and Tandem HR are leading HR services providers in the market.

  • A Complete Guide for Using Restaurant POS System

    Are you planning to buy a restaurant POS or you’ve already bought one but want to know more about how to use it efficiently? Then you are at the right place. Here you will get an insightful overview of using the restaurant POS effectively.

    POS has become an essential need of every restaurant business to perform its operation efficiently. Restaurateurs are heavily investing in this system. Since there are a lot of POS providers available in the market, you have the flexibility to choose the desired provider which best suits your needs.

    How Does POS Help Restaurant Owners?
    Ultimate Guide to Use Restaurant POS
    Software and Hardware Requirements
    Countertop POS Terminal
    Handheld Device
    KDS(Kitchen Display System)
    Printer
    Payment Terminal
    Self-Service Kiosk
    Menu Management
    Creating a Floor Plan
    Employee Management
    Configuring POS Devices
    Configuring KDS (Kitchen Display System)
    Billing and Payment
    Overview of Analytics and Reports
    Loyalty and Marketing

    How Does POS Help Restaurant Owners?

    Restaurants have to go through some repetitive tasks, like taking orders from customers and sending them to the kitchen, then serving the prepared meal to customers, and finally billing and payments. You can easily manage this activity if you have a decent amount of customers, but the same situation becomes hectic and confusing when suddenly a restaurant becomes crowded.

    No matter how efficient employees you have, the whole process of taking orders billing and pay becomes cumbersome when there is a crowd in your restaurant. So you need a system that simplifies the whole process and manages every situation seamlessly. Here comes the role of restaurant POS.

    POS empowers your employee to take orders using handheld devices, and that order is directly sent to the kitchen and displayed on the kitchen display system(KDS). Once the customer is done with their meal and ready to pay, then they can easily make payment at the counter or at the table.

    If a customer asks for the bill at the table, you can use your handheld POS device to generate the bill and take payment using cash or a card. Also, customers can pay the same bill at the counter because everything is interconnected. Apart from these basic services, restaurant POS also helps to manage your employees, run a loyalty program, look into the insight of your business via reports and analytics, online delivery, and much more.

    So restaurant POS removes the burden of managing the customers and helps owners to focus on the different important things like business growth, inventory fulfilment, etc.

    Ultimate Guide to Use Restaurant POS

    There are so many POS providers that provide their software and hardware to manage restaurant operations. Some popular POS providers are Toast, Upserve, Square, Lavu, Micros, Harbortouch, Cake, Revel, Clover, and Touchbistro. You can consider any of the following to boost your restaurant business. Now let’s proceed further with our guide to using restaurant POS. This guide is more familiar to square POS but it is quite common in all POS providers.

    Software and Hardware Requirements

    Restaurant POS is a combination of software and hardware that smoothen the process of running a business. So before proceeding further to understand the software part, let’s have a quick overview of essential hardware components in the restaurant POS.

    Countertop POS Terminal

    You can put this POS terminal at your counter to monitor and manage everything regarding your POS system. Some POS providers provide their terminal hardware while some use iPads to work as a terminal. POS Software works perfectly fine on this terminal and you can easily manage the devices in your restaurants, payments, billing, and everything.

    Handheld Device

    The handheld device is used to serve the customers at their tables, this device is equipped with features like taking orders, billing and payments. You can also split the bill as per the customer’s request based on the item ordered. Since everything is interconnected with each other all the orders are sent to KDS in no time.

    KDS(Kitchen Display System)

    A kitchen display system (KDS) is a digital screen that is placed in the kitchen which gives order information to the chef. Every order that is created, whether through a handheld device, self-service kiosk, or at the counter, is seamlessly synced with the KDS in real-time. It replaces the traditional paper order ticket which was difficult to modify.

    Printer

    I’m sure you are aware of the functionality of a printer. In the POS system, it is used to print the receipt of the bill. It is directly connected to the POS terminal or through the wifi, for printing.

    Payment Terminal

    A payment terminal is a device used to receive payment via debit or credit card. It is mostly used at the counter. The handheld device comes with an integrated payment mechanism to collect payments at the table.

    Self-Service Kiosk

    Self-service Kiosk is a great tool to reduce the workload of your employees. This is a kind of machine attached to the restaurant that empowers the customers to make orders and payments. Since this is also connected to your POS, every device is synced with the order and payment details in real time.

    Once you have your software and hardware from your POS provider, now it’s time to configure your menu. After logging into your account, you need to add the food items after clicking on the tab “menu”. There are a lot of options and modifiers available to configure the menu effectively. You can also customize your menu based on how it will look in the POS layout.

    Modifiers in the menu help you to add extra information like item size and preferences. Customers can easily order any food item based on what size and elements they need in the dish.

    Creating a Floor Plan

    The floor plan is basically a layout of the tables in your restaurants. You can create a floor plan for your restaurant and assign the table number to each table. Tables may be of different sizes, shapes, and dimensions, you can create your table layout easily with drag and drop. This floor plan helps you identify which table is booked, which is vacant, what is the order and bill amount, and whether the bill is paid or not.

    Employee Management

    Now you need to add the team member to the POS software. You can assign their roles and permissions, which can be administrator, bartender, cashier, accountant, etc. While adding the team member to your POS, you also need to assign the passcode for each employee. This passcode will be used while assigning the device to the employees.

    Configuring POS Devices

    Setting up the POS device is very easy, you only need to click on devices and then click on add a POS device. It will provide you with the device code which is used to connect the device with software. The app of the POS provider should be installed on your device to configure it. In Square POS, you can use your iPad to connect with software by installing the Square app and then entering the device code.

    If you want to connect the handheld device, then simply add this device code to your device. After adding the device code, you might need to configure some basic device settings, and then you need to enter your employee passcode which you’ve created while adding an employee to the POS. Once you log in to your handheld device you can see your floor plan and menus, which you’ve created. Now your device is ready to take orders.

    Configuring KDS (Kitchen Display System)

    Just like you’ve added a POS device, you can also add KDS to your software. You need a KDS device code to access the KDS, the device code is generated once you add a new KDS device to your software.

    Use your device code to log in to the KDS and view the orders. Manage each order from your kitchen and mark the order based on its status. If the food item is ready, then click the food item, and if the whole order is ready then click the order to change the status to completed.

    You can play with other settings and gauge the appropriate setting that suits your needs. Configure the KDS to show the urgent order in red color and similarly other orders in different colors. Whenever an order is placed it will automatically pop-ups on the KDS.

    Billing and Payment

    Once the customer is done with their meal and asks for the bill, create a bill in a single click with your handheld device and take payment at the table. Customers can also visit the counter for billing and payments because everything is interconnected with POS software.

    The handheld device comes with an integrated payment mechanism to collect payments, this device may differ from provider to provider. Since billing and payment is the most important aspect of POS, it is found in every POS, no matter which provider you choose.

    Overview of Analytics and Reports

    Within the dashboard of your POS software, you’ll find Analytics and reports. This report provides insights and figures on sales, inventory, labor, and much more. Various filters you can use to analyze the report more efficiently and accurately.

    The clear and concise stats of your restaurant business will help you to make data-driven decisions. You can easily identify the best-selling item in your restaurant, whether promos and discounts are working or not, employee performance, the payment received, profit margin, and much more.

    Loyalty and Marketing

    The loyalty program feature for the POS software is just amazing, it empowers you to create loyal fans for your restaurant. You can create a loyalty program through the POS software and set the rewards that customers will get after the completion of certain tasks. Like if a customer signs up for the loyalty reward, he will get certain points, and if he spends a certain amount in the restaurant, he will get cashback. Points can be redeemed for future purchases.

    Creating an email marketing campaign is just another great feature to use. You can send a customized email to your subscribers and keep them engaged with your business through discounts, offers, and cash backs. There are a lot of options available in loyalty and marketing that you can easily configure according to your need.

    Conclusion

    The POS system is a great tool to handle your restaurant and you become familiar with the interface of the software, once you start regularly using it. But when you are just starting, then this comprehensive guide will help you to understand the hardware and basic features of the software.‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌

    FAQ

    What is a Restaurant POS System?

    A restaurant POS system is software that helps restaurants to manage their business and it includes features such as inventory, menu management, guest tracking and floor management.

    How does a POS System help Restaurants?

    A restaurant POS manage all of the business operations and it POS simplifies restaurant processes, from order entry to payment and reduces errors. It captures data to maintain inventory and revenue numbers in real time and generates reports to manage the business.

    How to choose the right restaurant POS system?

    The best restaurant POS system depends on a variety of factors but the most important is what kind of your restaurant is and the features you need in your POS system to manage and scale your business.

    What is the best POS System for restaurants?

    The best POS system for restaurants must include features like good third-party integrations for smooth delivery, pickup, and tracking of customer reservations, menu management, customizable layouts and strong reporting capabilities.

  • List of 16 Biggest Dropout Entrepreneurs in the World

    The saying “Winners never quit, and quitters never win” is true, but it seems ironic in the case of entrepreneurs who have quit their academics to pursue their goals instead. Guess what, though? They have accomplished much more than getting good grades from school or university.

    People continue to question the decisions that were made by dropouts, asking, “Will they thrive as successful contributors to society?” But trust me when I say that going from being a dropout student with nothing in their pocket to becoming one of the most successful millionaire entrepreneurs in the world has greatly increased respect for determination and commitment to one’s aims.

    Biggest Dropout Entrepreneurs in the World
    Bill Gates
    Mark Zuckerberg
    Henry Ford
    Steve Jobs
    Larry Ellison
    Larry Page
    Jan Koum
    Evan Williams
    Jack Dorsey
    Amancio Ortega
    Orji Uzor Kalu
    Michael Dell
    John Mackey
    Azim Premji
    Kunal Shah
    Ritesh Agarwal

    Biggest Dropout Entrepreneurs in the World

    Dropping out of school or college is considered one of the biggest mistakes in one’s life. However, there are certain people who have proved this notion wrong by turning this mistake into huge achievements. The following is a list of the biggest entrepreneurs in the world, who dropped out of their education in the middle.

    Bill Gates

    Name Bill Gates
    Net Worth $114 Billion (2022)
    Source Microsoft Corporation
    Dropout From Harvard University

    Bill Gates
    Bill Gates

    Bill Gates is known to be the inventor of the college-dropout billionaire trope in 1975 when he left Harvard to start his career in establishing Microsoft. At the age of 13,  he wrote his first software program to get admission to a private Lakeside school, which revealed his affinity for programming.

    Whilst at Lakeside school, Gates earned the title of National Merit Scholar, in which he scored 1590 out of 1600 on the SAT. To support his father’s dream of making him becoming a lawyer, he enrolled at Harvard as a pre-law student in 1973, and aced mathematics and computer science courses.

    After dropping out of Harvard, in 1975 Gates founded ‘Microsoft’ with his friend Paul, and produced the first-of-its-kind programming language BASIC for the MITS Altair 8800 ‘Microcomputer,’ an early personal computer. He had chosen the path, which he is good at, not the path his parents wanted him to choose.

    Mark Zuckerberg

    Name Mark Zuckerberg
    Net Worth $70 Billion (2022)
    Source Meta (formerly Facebook)
    Dropout From Harvard University

    Mark Zuckerberg
    Mark Zuckerberg

    One of the famous media magnates is the CEO of Meta Platforms- Mark Zuckerberg. He attended his schooling at Ardsley High school before transferring to Phillips Exeter Academy. He started using computer and software programming in middle school, where he built a program that connected wireless communication between his and his father’s dental office.

    In 2002, Mark got into Harvard to study Psychology and Computer Science and was already known as a ‘programming prodigy’. At that time, Mark came up with a new code for his new website- Facebook, however, faced a lot of problems in establishing it, so he decided to quit Harvard in 2005 to focus on building his dream, Facebook.

    Henry Ford

    Name Henry Ford
    Net Worth $190 billion, (1947, adjusted for inflation)
    Source Ford Motor Company
    Dropout From High School

    Henry Ford
    Henry Ford

    The automobile ruler created a revolutionary movement in transportation and the automobile industry. Ford completed his eighth grade at a one-room school and instead of attending sophomore, he enrolled in a bookkeeping course at a commercial school.

    Contradictory, Ford was much more interested in building something big than sitting at a desk & bookkeeping. When he was 12 years old, that was the first time he found a purpose in his life when he witnessed the operation of a Nichols and Shepard road engine from a watch gifted by his father. In 1882 Ford returned to his family farm after working as an apprentice machinist in Detroit.

    While he was working on the family farm, he became adept at operating the Westinghouse portable steam engine, whereby he completed his first gasoline car powered by a two-cylinder, four-horsepower engine and eventually built three cars in his home workshops, which was a stepping stone to the development of the renowned brand ‘Ford’.

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    Steve Jobs

    Name Steve Jobs
    Net Worth $10.2 billion (2011)
    Source Apple Inc.
    Dropout From Reed College

    Steve Jobs
    Steve Jobs

    Steve Jobs, the innovation king, was also once a problematic child during his school times, where he played a lot of pranks on teachers and never showed a slight interest in studies.

    He even skipped 5th Grade and transferred straight into 6th grade at Crittenden Middle school, where he became a victim of the bully. In fact, his family moved to Los Altos and joined Homestead High school for a better life, which was surrounded by an environment of engineering families.

    In 1971, Steve Jobs decided to join the electronics club with his best friend Wozniak, who got into the University of California, Berkeley. At that time, Wozniak designed a low-cost digital ‘blue box’ to manipulate the telephone network, by allowing free long-distance calls.

    In 1971, Steve Jobs dropped out of Reed College after the very first semester, because he didn’t want to waste his parent’s money on an education that seemed meaningless to him and worked as a technician at Atari, Inc. in 1972. In 1976, Jobs, and fellow college dropout Steve Wozniak, built the Apple I in his parent’s garage.

    Larry Ellison

    Name Larry Ellison
    Net Worth $91 Billion (2022)
    Source Oracle Corporation
    Dropout From University of Chicago

    Larry Ellison
    Larry Ellison

    Larry Ellison was once a dropout student, but now he was listed as one of the wealthiest people on the planet by Bloomberg Billionaires Index in July 2022. Larry Ellison attended South Shore High school and later enrolled as a pre-med student at the University of Illinois in Urbana-Champaign.

    At the University, he was rewarded and named ‘Science student of the year. Unexpectedly, he hadn’t appeared for his final exams as his adoptive mother passed away. In 1966, he attended the University of Chicago for one term, where he learned computer design and technology, and later dropped out of it.

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    Larry Page

    Name Larry Page
    Net Worth $83 Billion (2022)
    Source Google
    Dropout From Stanford University

    Larry Page
    Larry Page

    Larry Page, the co-founder of Google, found himself attracted to computers when he was 6 years old and even became the first kid in the rudimentary school to turn in an assignment from a word processor.

    At the age of 12, he wanted to start a company by inventing new things and eventually developed an interest in technology and business. Larry Page was a radiant student in schooling as well as an undergrad. He did his schooling at Montessori Radmoor and  East Lansing High School.

    Page received a Bachelor of Science from the University of Michigan and a Master of Science from Stanford both in the field of computer science. After joining his: Ph.D. and he started his research in Computer Science at Stanford University and pursued his full-time interest in building the World Wide Web. However, in 1999 Larry couldn’t complete his Ph.D. degree and dropped out of college to focus more on his main aim.

    Jan Koum

    Name Jan Koum
    Net Worth $13.3 Billion (2022)
    Source WhatsApp
    Dropout From San Jose University

    Jan Koum
    Jan Koum

    The co-founder of Whatsapp Jan Koum enrolled at San Jose State University because he was interested to learn to program. At the same time, he worked at Ernst & Young as a security tester. In 1997, He left his studies mid-way, because he was hired by Yahoo as an infrastructure engineer.

    Evan Williams

    Name Evan Williams
    Net Worth $1.8 Billion (2022)
    Source Twitter
    Dropout From University of Nebraska

    Evan Williams
    Evan Williams

    In Clarks, Nebraska, Evan Williams was raised on family property. Before quitting, he spent three semesters enrolled at the University of Nebraska at Lincoln.

    Williams worked as a contractor writing software for Hewlett-Packard and Intel and then also secured a position at Google. Later, he left his position at Google to start his entrepreneurial journey of establishing Twitter.

    Jack Dorsey

    Name Jack Dorsey
    Net Worth $4.2 Billion (2022)
    Source Twitter
    Dropout From New York University

    Jack Dorsey
    Jack Dorsey

    A 1999 New York University dropout is the co-founder of Twitter and Square, two of the most talked-about firms in recent memory. Jack founded Twitter along with Ev Williams, Biz Stone, and Noah Glass after briefly working as a masseur and a fashion designer. At this time, Dorsey is valued around $5.6 billion.

    The above graph shows the percentage of Forbes Billionaires by their educational institute type. The graph is made as per the data shared by entrepreneur.com and the study conducted by Wai & Rindermann.
    The above graph shows the percentage of Forbes Billionaires by their educational institute type. The graph is made as per the data shared by entrepreneur.com and the study conducted by Wai & Rindermann.

    Amancio Ortega

    Name Amancio Ortega
    Net Worth $61.6 Billion (2022)
    Source Inditex
    Dropout From School

    Amancio Ortega
    Amancio Ortega

    Amancio Ortega, dropped out of school at the age of 14, because his father was a railway worker and couldn’t afford much to pay. So, Amancio Ortega joined a local shirtmaker named ‘Gala’, which actually taught him how to make clothes by hand and inspired him to build one of the largest clothing retailer companies, Inditex, known for its chain of Zara and Bershka.

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    Orji Uzor Kalu

    Name Orji Uzor Kalu
    Net Worth $1.1 Billion (2022)
    Source SLOK Holding
    Dropout From Nigerian University

    Orji Uzor Kalu
    Orji Uzor Kalu

    Orji Uzor Kalu was 19 years old when he was dismissed from the Nigerian university after being found instigating a series of student riots. In order to start trading goods like rice, sugar, and palm oil, he requested $35 from his mother.

    By diversifying his investments, he became a millionaire by the age of 20. He was ranked by Forbes as the 49th richest person in Africa in 2015. He originally established SLOK Holding, a West African company with profit shareholding in shipping, banking, manufacturing, etc.

    Michael Dell

    Name Michael Dell
    Net Worth $56.1 Billion (2022)
    Source Dell Technologies
    Dropout From University of Texas

    Michael Dell
    Michael Dell

    In 1983, Michael Dell was a student at the University of Texas, although he occupied much of his energy in his college dorm room updating and hawking devices. Dell founded PCs Ltd. at the age of 19, which eventually grew into Dell Computer Corporation in 1987.

    He then obtained a license from the State of Texas to submit bids for big contracts after starting to sell upgrade modules for personal computers from his hostel. At the age of 27, Michael Dell was the youngest CEO on the Fortune 500 list. He currently has a net worth of almost $20 billion.

    John Mackey

    Name John Mackey
    Net Worth $85 Million (2022)
    Source Whole Foods Market
    Dropout From Texas University

    John Mackey
    John Mackey

    John Mackey studied Philosophy and Theology at Texas University, Austin in 1978. Renee Lawson Hardy and he first met when he enrolled in a vegetarian co-op at the university.

    The couple dropped out of school and founded SaferWay, the first vegetarian supermarket in Austin. It ultimately paved the way for Whole Foods, the 30th leading retailer in the United States measured by revenues in 2014.

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    Azim Premji

    Name Azim Premji
    Net Worth $9 Billion (2022)
    Source Wipro
    Dropout From Stanford University

    Azim Premji
    Azim Premji

    Azim Premji is another biggest entrepreneurs on the list of dropout entrepreneurs. is the son of a very famous businessman, who is also known as the Rice king of Burma, Mohamed Hashem Premji. Azim had to drop out of his education at Stanford because he had to take care of his family’s oil business after his father’s sudden demise.

    Subsequently, Azim Premji became solely responsible to look after his father’s business in India. He completed his studies to get a Bachelor of science in electronic engineering degree from Stanford University after 30 years.

    Kunal Shah

    Name Kunal Shah
    Source CRED
    Net Worth $809 Million (2022)
    Dropout From Narsee Monjee Institute of Management Studies

    Kunal Shah
    Kunal Shah

    Kunal Shah graduated from Wilson College with a Bachelor of Arts in Philosophy. He then enrolled at the Narsee Monjee Institute of Management Studies for an MBA degree, which he ultimately left. His initial business was PaisaBack, which provided kickbacks from merchants. Among many of the top college dropout Indian entrepreneurs, Kunal Shah is one of the most well-known names.

    He is a founding member of FreeCharge, a reputable internet recharge service. 2012 saw the launch of the business, which Snapdeal soon bought. With its first three recharges and matching-value incentives, FreeCharge completely changed the way that internet recharges work. He is currently known best for being the founder of one of India’s unicorn startups CRED.

    Ritesh Agarwal

    Name Ritesh Agarwal
    Net Worth $1.1 Billion (2020)
    Source OYO Rooms
    Dropout From Indian School of Business & Finance, New Delhi

    Ritesh Agarwal
    Ritesh Agarwal

    One of the youngest Indian Billionaires, Ritesh Agarwal, the founder of OYO Rooms. He was from a middle-class family. He completed his higher schooling at St. John’s Senior Secondary School and moved to New Delhi for college in 2011.

    But, shortly, he quit as his project idea of Oravel stays Pvt Ltd was selected by the Thiel Fellowship program in 2013, which granted 100,000 USD, with which he launched OYO rooms.

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    Conclusion

    These are some of the most successful entrepreneurs who have found greatness despite not having the appropriate education. They serve as the best illustration that what you study doesn’t define you. It is your hard work and determination and passion that speaks for you.

    FAQs

    Who is the most successful dropout?

    Bill Gates is the most successful dropout in terms of net worth. He possesses a net worth of $110.5 billion as of July 2022.

    How many billionaires have no college degree?

    As per the billionaire census by Wealth X (2015), about 3 out of the 10 billionaires have no proper college degree. Some of the most popular names who became successful without a proper college degree include Bill Gates, Mark Zuckerberg, Steve Jobs, Amancio Ortega, and more.

    Who is a famous Harvard dropout?

    Some of the famous Harvard dropouts are:

    • Bill Gates
    • Mark Zukerberg
    • Robert Frost
    • David Foster Wallace
    • Matt Damon

  • Complete Guide on Intellectual Property, Patents, and How Is It Beneficial for Your Business?

    Intellectual property (IP) is a term that is often heard, but what does it mean? IP refers to creations of the mind, such as inventions, literary and artistic works, and symbols, names, and images used in business. It is protected in law by patents, copyright, and trademarks, which enable people to earn recognition or financial benefit from what they invent or create.

    Different types of intellectual property exist for the protection of individual business secrets. Understanding the legalities and regulations around copyrights, trademarks, and patents is essential for people who want to protect their intellectual property rights.

    Article 27 of the Universal Declaration of Human Rights, talks about the protection of ethical and material interests resulting from any scientific, literary or artistic production of any creator or author.

    Patents grant creators an exclusive right to stop others from commercially exploiting their inventions without permission. Copyright protects original works of authorship including literary, dramatic, musical, and artistic works such as songs, books, paintings, and photographs. Trademarks protect distinctive marks, logos, or symbols that identify a product or service and distinguish it from others.

    History of Intellectual Property
    Importance of Intellectual Properties for Businesses
    Types of Intellectual Properties:

    How to Decide Whether Your Business Needs a Trademark, Copyright, or Patent?
    Trademark, Copyright, or Patent Requires an Attorney?
    Costs Involved in the Application of Intellectual Property Protection
    Consequences of Violation of Intellectual Property Rights

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    History of Intellectual Property

    Logo of World Intellectual Property Organization (WIPO)
    Logo of World Intellectual Property Organization (WIPO)

    The legal development of copyrights, trademarks, and patents has been a key part of the development of society. In 1624, England passed the first copyright law to protect authors from having their works copied without permission or compensation.

    In the 18th and 19th centuries, copyrights were expanded to cover more works such as software, maps, motion pictures, and even compilations of facts. The concept of protecting trademarks and logos was developed in the late 1800s with the creation of the Paris Convention for Protection of Industrial Property (1883) and the Berne Convention for the Protection of Literary and Artistic Works (1886) which was later followed by the Madrid Agreement for Repression (1891).

    Since then, countries around the world have continued to develop their laws and regulations to protect intellectual property rights based on the above laws. IP promotes ease of doing business and allows smooth transfer of technology.

    World Intellectual Property Organization (WIPO) is responsible for IPR protection and its sole authority for IP Rights. The above treaties were also facilitated by WIPO.

    Importance of Intellectual Properties for Businesses

    The IP system seeks to create an environment where innovation and creativity can flourish by finding the correct balance between innovators’ interests and the larger public interest.

    Businesses need to understand how IP protection works and take steps to protect their creations. Through copyrights, trademarks, and patents, businesses can enjoy the monetary benefits of their innovations while also safeguarding them from misuse and exploitation.

    Ultimately, this encourages further investment in creativity, allowing more people to benefit from originality and innovation. IPR is responsible for well being of human growth and its capacity to create and innovate new things for humanity.

    Types of Intellectual Properties:

    Copyrights

    Copyrights are a form of protection provided to the authors or creators of original works. This includes literary, dramatic, musical, and artistic works such as books, movies, music, photographs, and software. The copyright owner has exclusive rights regarding the reproduction and distribution of their work.

    Table of copyright duration by country (Source: Wikipedia)

    Countries Copyright terms based on author’s deaths Copyright terms based on publications and creation dates
    Australia Life + 70 years Life + 50 years (death before 1955) 70 years from publication (sound recordings, cinematograph films) and 50 years after making (television broadcasts and sound)
    Canada Life + 70 years (except certain posthumous works) Life + 50 years (death before 1972) 75 years from publication or 100 years from creation, whichever is shorter (anonymous works)
    Denmark Life + 70 years –
    European Union Life + 70 years Anonymous or pseudonymous works only: "70 years after the work is lawfully made available to the public" (Art.1(3)). Protection ends if the work is not made available within 70 years from creation. (Art.1(6))
    Finland Life + 50 years 50 years from publication and creation (sound recordings, television broadcasts, sound broadcasts, and photographic works)
    France Life + 70 years (except posthumous works published after this term)* 70 years from publication (pseudonymous, anonymous or collective works)
    Germany Life + 70 years 25 years from first publication or first public performance if copyright has expired before such publication or performance, or if the work has never been protected in Germany and the author died more than 70 years before the first publication
    Hong Kong Life + 50 years (literary, dramatic, musical or artistic works with known authorship) Life + 50 years (Films) 50 years from publication or if unpublished 50 years from creation (literary, dramatic, musical or artistic works with unknown authorship)
    India Life + 60 years (except posthumous works) 60 years from publication (posthumous works, photographs, cinematograph films, sound recordings, works of public undertakings, and works of international organizations)
    Iran Life + 50 years 30 years from publication (photographic or cinematographic works)
    Israel Life + 70 years 50 years from publication (photographs created until May 2007)
    Italy Life + 70 years 70 years from publication (anonymous or pseudonymous work)
    Japan Life + 70 years 70 years from publication, or if unpublished, 70 years from creation (cinematographic works)
    South Korea Life + 70 years (amended on 2011-06-30) 70 years from publication
    Netherlands Life + 70 years 70 years from publication (anonymous or pseudonymous work, corporate works with no listed natural author)[
    New Zealand Life + 50 years (literary, dramatic, musical, or artistic work) 50 years from creation (computer-generated work)
    Pakistan Life + 50 years –
    Russia Life + 70 years Life + 74 years (for those who fought 1941-45) 50 years from creation and 70 years from publication (anonymous works
    Taiwan (Republic of China) Life + 50 years (except posthumous works first published 40 to 50 years after death) 50 years from publication (anonymous or pseudonymous work)
    Turkey Life + 70 years 70 years from publication for work-for-hire
    United Arab Emirates (UAE) Life + 50 years –
    United Kingdom Life + 70 years If multiple authors are involved the + 70 years after last author’s survival 70 years if the author is unknown or unknown
    United States Life + 70 years (works published since 1978 or unpublished works) 95 years from publication or 120 years from creation whichever is shorter (anonymous works, pseudonymous works, or works made for hire, published since 1978)

    Patents

    Ranking of the national patent offices with the most patent grants in 2021
    Ranking of the national patent offices with the most patent grants in 2021

    Patents protect inventions, from a new type of machine to an innovative product or process. The patent owner has exclusive rights to exploit the invention commercially and prevent others from using it without their permission. There are two types of patents utility patents and design patents.

    Trademarks

    Trademark applications, total - Country Ranking
    Trademark Applications Country’s List 2019

    Trademarks are signs used to distinguish the goods or services of one company from those of another. This can include words, phrases, logos, designs, and symbols. Trademark owners have the exclusive right to use their trademark and prevent others from exploiting it without their permission.

    Trade secrets

    Trade secrets are confidential information related to a business that has commercial value. This can include recipes, customer lists, pricing strategies, or manufacturing processes. Such information is protected from unauthorized use or disclosure and its owners have exclusive rights over the exploitation of the secret.

    How to Decide Whether Your Business Needs a Trademark, Copyright, or Patent?

    IP Right applications 2019 2020 Growth (%), 2019-2020
    Patents 3,226,100 3,276,700 1.6
    Trademarks * 15,130,000 17,198,300 13.7
    Industrial designs * 1,361,000 1,387,800 2.0
    Plant variety 21,430 22,520 5.1

    Copyright and trademarks are typically available to protect creative works such as literary, artistic, or musical works. Patents can offer protection for inventions, products, processes, and methods of use.

    When creating a business plan, it is important to consider the various aspects of IP. This plan should consider what kind of IP might be appropriate for your business, the length of protection offered, the costs associated with protecting your IP, and how to ensure that your IP is adequately protected. By understanding the different forms of IP and their associated benefits, you can make informed decisions about which form of protection is most suitable for your business. This can help you to maximize the potential value of your products.

    It can be difficult to know how to apply intellectual property protections in a given context. Between trademark and copyright, there may be some overlap. Additionally, some odd works initially appear to defy classification.

    The following recommendations can help you defend some particular works and categories:

    • Names, phrases, and symbols associated with a brand or company can be trademarked.
    • Inventions are eligible for patent protection.
    • Novels and other books are generally copyrightable, though copyrights may have limitations depending on the jurisdiction.
    • Computer programs can be patented, but copyrights also apply to code in certain contexts.
    • The same IP protections that apply to works of art may also apply to graphic design. Like all creative written works, blogs get certain copyright rights the moment they are created, but to enforce those protections, you must register your blog entry.
    • Producing original music gives you copyright protections, but without registering it with the Copyright Office, you can’t use the federal court to assert your ownership rights.

    Trademark, Copyright, or Patent Requires an Attorney?

    Although it’s possible to apply for copyrights, trademarks, and patents without an attorney, it isn’t easy. An experienced attorney can help protect your work by ensuring that your registration is properly prepared and filed, and the process goes through without any issues.
    A lawyer who understands the IP law landscape can also provide invaluable advice on the best way to protect your work. Patent lawyers, for example, can advise a business on how to structure its portfolio of copyrights or trademarks to gain the most protection from existing laws and regulations. Ultimately, an attorney can help ensure that your IP is protected and maximize its long-term value.

    It is generally recommended that copyrights be registered with the United States Copyright Office. This registration grants creators an exclusive set of rights and protections, including the right to reproduce the work, distribute copies of it, perform the work publicly, display it in public, and make derivative works based on it.

    Trademarks come in two forms: common law and federal registration. Common law trademarks can be acquired without any filing or paperwork; however, registering a trademark with the United States Patent and Trademark Office gives you several benefits that are not available through common law protection.

    Patent attorneys are trained to understand the complex legal and technical aspects of patent law. They can help you make sure that your invention is eligible for a patent, advise you on how to protect your IP rights, file the appropriate paperwork with the United States Patent and Trademark Office, and represent you in court should any disputes arise.

    Costs Involved in the Application of Intellectual Property Protection

    Depending on the type of IP protection you need, the costs can range anywhere from a few hundred to thousands of dollars. Copyrights and trademarks are relatively inexpensive compared to patents, which can cost between $2,000 and $15,000 depending on the complexity of the invention. Hiring a patent attorney will add to the overall cost of protecting your intellectual property.

    By taking the proper steps to protect your intellectual property, you can ensure that no one else will benefit from what you have created without your consent. This includes safeguarding against unauthorized use or infringement. The costs associated with IP protection are a worthy investment for any innovator or creator.

    Consequences of Violation of Intellectual Property Rights

    Violation of Intellectual Property Rights is a serious offense. Copyright violations can lead to legal action and substantial fines, while patent infringements can lead to even more severe repercussions such as financial compensation or injunctions against the offender. Therefore, it is important to understand the laws associated with copyrights, trademarks, and patents to ensure that you are compliant with them and avoid any potential consequences.

    FAQs

    What Are WIPO Patents?

    These are exclusive rights given for the protection of an invention, which is new and has a procedure or invention that solves any problem.

    What Is Trade Secrets Example?

    Trade secrets cover manifold, information including:

    • Commercially valuable things like tech information or manufacturing-related information.
    • Combination of elements like Lab test data, design, and drawing, etc.

    Do Intellectual Property Laws Protect Trade Secrets?

    No, contrary to Patents, Trade secrets are protected without registration.

    How Many Types of Trade Secrets Are There?

    There are five types of trade secrets:

    1. Processes
    2. Formulas
    3. Databases
    4. Programs
    5. Business Operations