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Tag: revenue

  • Uber Business model: A Deep Dive into the Strategy and Innovation of Uber

    Did you know 17% of small businesses fail because they lack a business model? Entrepreneurs now are the time to learn about this amazing business model canvas, which will make that stress go away. Here, I have taken the real-life example of Uber for this business model canvas.

    About Uber
    Uber statistics in 2021
    Uber’s Business model canvas
    FAQ

    Brief introduction of Business model canvas

    A lean canvas and a value proposition are two sorts of business models. These are tools for validating company concepts geared for startups. Both originate from Alexander Osterwalder’s ‘business model canvas,’ which we’ll explore today.

    The primary distinction between the business model canvas and the lean canvas is that the business model canvas was developed for well-established businesses to track their efficiency and evolution through time. Startups are the most common users of lean Canvas for product launches.

    The business model canvas is popular among entrepreneurs. It’s a risk-detection tool that’s adaptable, intuitive, and value-driven. That’s why it’s commonly referred to as a one-page business plan. The canvas is divided into nine areas, each of which must be filled with specific company information.

    About Uber

    In the business realm, Uber is a well-known name. Millions of business owners and entrepreneurs have been motivated by extraordinary success, and the trend is expected to continue. This California-based ride-hailing service, which was founded in 2009, has ushered in a huge change by igniting the on-demand economy.

    From its humble beginnings, it has come a long way from a basic idea of allowing customers to hail a cab with a single tap to being the world’s largest ride-sharing firm. Uber currently controls over 68% of the total ridesharing market in the United States.

    Uber statistics in 2021

    According to statistics, Uber undertakes around 1.44 billion rides each quarter. Uber has raised $25.2 billion in fundraising, has over 100 million active customers, 4 million Uber drivers, and a net worth of $95.67 billion. So far, Uber’s success has inspired millions of business owners and entrepreneurs.

    How does OLX makes money | OLX Business Model
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    StartupTalkyPratyusha Srivastava

    Uber’s Business model canvas

    The aggregator business model was first introduced to the world by Uber. It operates on a multi-sided platform business strategy that serves as a link between riders and drivers. Simply put, Uber has a two-pronged business model. While it enables clients to hire a taxi with a simple click, it also enables cab drivers to complete their rides on time and safely.

    Customer segments

    You must determine your most significant customer to whom you are providing value. The persona method aids in the creation of an imaginative portrayal of user categories. There are two types of Uber users: drivers and riders. Each one caters to a specific group of people that are interested in what Uber has to offer.

    The first group i.e. drivers are:

    • Full-time job seekers
    • Generate extra income
    • Love to drive
    • Looking for a flexible work environment

    The second group i.e. Users are:

    • Don’t own cars
    • Don’t know how to drive
    • Looking for comfort & luxury
    • Looking for cost-effective transportation services
    • Taxi haters
    • Travelers in a foreign place

    Ola Success Story – Funding, Revenue, History and more
    Formerly known as Ola Cabs, Ola was founded in December 2010 by Bhavish Aggarwal and Ankit Bhatia. Here is the story of how it all started.
    StartupTalkyShubham Kumar

    Value proposition

    Each persona has unique challenges or prerequisites that your product or service can address, and you must specify these in the value proposition section. List as many jobs as feasible that correspond to the needs of your target customer segments.

    For drivers, it’s the ability to work flexible hours and earn more money, while for passengers, it’s the ability to pay with credit cards and cheaper prices. Decompose this part into specific chores to be done, customer pains and gains, and relate them to your product value using the value proposition canvas.

    Value proposition or benefits Uber offers are:

    To drivers:

    • Ease in getting started
    • Opportunity to earn
    • Ease in accessing more passengers
    • Flexible working schedules
    • Get paid online

    To customers:

    • Minimum waiting time
    • Reduced transportation costs
    • Cashless rides
    • Safety & security
    • Upfront pricing

    Channel

    The communication unit that entrepreneurs use to contact customer segments is referred to as a channel. If you offer your products through a website, that is one of your business model canvas channels. Search engines, social media, and even word-of-mouth marketing are examples of this.

    Uber’s channels include:

    • Website
    • Smartphone app (android & IOS)
    • Social media
    • Google Adwords
    • Media coverage
    • Word of mouth

    Relationship with customers

    The way you interact with customers is defined in this section. Customer interactions included follow-up and feedback after the sale. If you connect with users through a call center or a Chabot, specify it here.

    Uber maintains its customer relationship through:

    • Social media
    • Customer support
    • Rating, reviews & feedback system

    Revenue streams

    You must define the methods by which your company obtains funds in the revenue streams section. They’re usually derived from customer segmentation and value proposition mapping. Uber passengers, for example, use their credit cards to pay for their rides. Uber makes money by charging a commission for each ride. Other revenue streams could include billable add-ons, subscriptions, premium accounts, and so on.

    Uber’s revenue streams are:

    • Car rides per km/mile basis
    • Surge pricing
    • Brands like Uber X, SUV, etc.
    • Divisions like Uber Eats, etc.
    • Advertising & marketing

    Key activities

    Now comes the difficult part, key activities cover everything you need to do to make your company work with digital products. This entails continuous product development and marketing. Recruiting, advertising and other such activities are part of these operations.

    If you provide certain services, this may include information that can help you improve your capabilities. When filling the key activities portion of the business model canvas, keep in mind the other sections you’ve already completed.

    Uber’s key activities are:

    • Platform development & enhancement
    • Marketing & customer acquisition
    • Sales promotion
    • Hiring drivers
    • Customer support
    • Manage driver payouts
    • Communicate with customers, drivers

    Key resources

    The assets you require to run your organization at max potential are known as key sources. Uber is based on a sophisticated technological platform. It also needs drivers to support its value proposition. Staff and expertise are heavily relied upon by service-oriented businesses.

    Uber’s key resources include:

    • Network of drivers & riders
    • Digital platform (website & apps)
    • Technology talent
    • Advanced Algorithms & Data Analysis
    • Brand image

    Key partners

    You must define any external stakeholders who can contribute to your business in the key partner section. The development of tech platforms can be driven by Uber investors. Drivers can be hired with the help of recruiting partners.

    Uber’s key partners are:

    • Drivers
    • Investors & venture capitalists
    • Technology partners
    • Commercial partners
    • Payment processors
    • Map API providers
    • Lobbyists

    Cost structures

    You should be able to tell what you spend your money on based on your cost structures. If your enterprise grows, you must also mention future costs. This area includes expenses such as hardware procurement, software development, and rental services.

    Attributes that make the cost structure of Uber are:

    • Customer acquisition costs
    • Legal & settlement costs
    • Insurance costs
    • Research & development
    • Lobbying & compliance
    • Platform maintenance
    • Infrastructure cost
    • Customer support

    After you’ve created your business model canvas, the next step is to analyze it. You have a comprehensive view of what’s going on in your company and can spot bottlenecks. Make sure to share it with stakeholders so that the content may be improved. Also, don’t cling to the canvas’s original version as it is a flexible document.

    How does redBus makes Money | Business Model of redBus
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    Final thoughts

    Uber, like other successful startups, did not become well-known overnight. Their success may be traced back to greater business model innovation, which provides clients with better services at reduced prices. Almost everyone appreciates the services they provide. Uber has transformed mobility for billions of people across the world by arriving on time, conveniently, and safely.

    FAQ

    Who is the founder of Uber?

    Travis Kalanick and Garrett Camp founded Uber in 2009.

    Who is the CEO of Uber?

    Dara Khosrowshahi is the current CEO of Uber

    What is the revenue of Uber?

    The revenue of Uber was 1,113.9 crores USD in 2020.

  • An Insight into the Business model of Quora

    Quora is a very popular question and answer platform that has evolved much before voice assistants and artificial intelligence developed into becoming a very common feature. Sustained and developed by real humans who answers the questions raised, Quora is indeed a unique one in the industry.

    This Q&A platform was launched by Adam D’Angelo and Charlie Cheever in 2009. They were former Facebook employees. Initially, it had no revenue until 2014. But today this social media network that flourishes with questions and answers have an estimated value of $2 billion.

    With an aim to have a three-digit growth rate, the sole motive of Quora is to generate high-quality answers to the questions that are asked by its users who run into millions. Over the years Quora has become a very reliable platform for getting answers regarding almost all the niches that exist. In this article, a glimpse of Quora’s business model will be looked into.

    About Quora
    Key Partners of Quora
    Key Activities of Quora
    Resources of Quora
    Business Model of Quora
    What is unique about the Business Model of Quora
    What is the Source of Revenue of Quora?
    FAQ

    About Quora

    When it was launched in 2009 it had no particular revenue earning source. However, its prevalence in the industry started to increase over the years and it subsequently got around $226 million from four funding rounds that were inclusive of 14 investors in 2014. As of 2018, it has reported $8 million in revenue and more than 300 million unique monthly visitors in 2020.

    Key Partners of Quora

    • Top Writers
    • Users
    • Media Platforms
    • Investors
    • Publishers
    • Online Businesses

    Key Activities of Quora

    The most important activity in Quora is answering questions posted by its users. The platform demarcates each question based on the topics. These umbrella topics are known as spaces and the users will get a chance to choose their space.

    Quora also categorises the feed in a very personalised manner depending on the interest and activities of the user in the platform. Various companies find it as a great opportunity to share their stand in a very detailed manner through these answers.

    Quora Website
    Quora Website

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    Resources of Quora

    Its major resource is its user base. They have a very enthusiastic community that asks questions and answers them. They have been funded by many investors through various stages of funding.

    One such popular funding which changes the game of Quora was that of 2014. As it further expanded to being a platform that promoted advertisements, companies that wanted to promote their products and services became a very important resource.

    Business Model of Quora

    Its very friendly user interface and educated consumer base have significantly helped in improving activities in Quora. Apart from random questions and answers it also allows business profiles to start accounts and make use of promoted answers.

    As mentioned earlier apart from the benefit of getting a platform to share their stand, they are also allowed to promote their brand in such a way that their answers come first. However, it is not in a dangerous manner. The users also have the right to like, upvote and comment on answers which will increase their reach and credibility.

    The reason Quora been very popular even after a long time since its launch is because of its wide audience base. It does not have a particular age group as the target audience. Their services are solely dependent on the interest of the user and customise their experiences accordingly.

    What is unique about the Business Model of Quora

    A unique factor about the business model is that one can observe a blend of both Facebook and Google in their methodology. It is similar to the models of Facebook because it allows you to afford like and comment on questions just like Facebook does and the similarity with Google is because of its mechanism to rank answers and the usage of algorithms. Like them, Quora also makes money through advertisements.

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    What is the Source of Revenue of Quora?

    They have text and image ads with which they began their advertising journey. It is one of the most used ad formats since it goes very well with the structure and texture of the answers. They make sure that their ads go along with the content that the user is reading.

    Ads on Quora
    Ads on Quora

    A person who is following a particular Space will be shown ads that are relevant to that topic. However, it may not be the case always. Many ads are also staged on this platform to increase the web traffic to their place.

    They charge for these ads in three different ways. The first one is CPA which is also known as Cost Per Action. Secondly, to get more conversions, they have another advertising strategy called CPC also known as Cost Per Click is made available for those who wants to get more traffic into the landing pages. Another one is CPM, which is the cost per thousand impressions. It targets those people who want increased impressions on their ads.

    Conclusion

    The factor that drew Quora to such greater heights and wide popularity is because of their vision to democratise knowledge in a way that is accessible to all. It is also completely crowdsourced and it thrives entirely on its user community. It is this mentality to share and grow that made Quora a social networking platform, a search engine and a very strong community that is as competent as Google simultaneously.

    One thing is sure from the business model of Quora, that it will continue to grow in future as well. This is mainly because of the fact that no technology can ever replace the uniqueness and capability of human beings. It is definitely an important takeaway from Quora to believe in yourself and understand that you are irreplaceable.

    FAQ

    Who is the founder of Quora?

    Quora is a question-and-answer website founded by Adam D’Angelo, Charlie Cheever in 2009.

    Is Quora owned by Google?

    No, Quora is a privately held company.

    How many visitors does Quora have?

    Quora has around 300 million unique monthly visitors as of 2020.

  • How Does Netflix makes money – Business model of Netflix

    What comes to your mind when you think of the best web series? YES, your guess is absolutely right! It’s Netflix that comes to our mind whenever we think of watching fascinating web series or movies. Netflix is our first choice above all.  Streaming through Netflix is very convenient and has gained enormous popularity among users in a very short duration of time.

    And when it comes to the Business model, Netflix fits best for the example of the company that has modified its business model dozens of times and received terrific success and fame.

    Netflix was started as a business company that rents boxed products through mail services to its customers worldwide. And now, the company is providing on-demand entertainment to its users in order to meet global needs.

    Few decades prior, Netflix launched its unscripted genre along with various English language formats. This was a great success because of the light-hearted cooking competition. The company also launched local versions in Mexico, Spain, France and Germany. After the success of this notion, Netflix provided other versions too based on the user’s convenience.

    About Netflix
    Where does Netflix operate?
    Key Services of Netflix
    Target Audience of Netflix
    Business Model of Netflix
    What is Unique about the Netflix Business Model?
    How does Netflix Make Money?
    FAQ

    About Netflix

    Netflix is counted among the most successful entertainment mass-media companies. The company was founded in 1998 with a service of renting boxed copies of shows, movies, video games and other forms of entertainment, via standard mail services to its customers.

    The startup was a great success, then the founders thought of taking it to the next level by introducing tons of advanced technologies. And that’s how Netflix modifies its business model. The company went from mailing boxed copies to providing access to its customers for streaming their favourite content at their utmost convenience.

    Today, Netflix holds the most advanced video streaming services that have brought major advantages to its business model and revenue. The company has developed a software application through which under subscription packages of different ranges, they allow the users to stream any content they want. Netflix is known to be the world’s 9th largest internet-based company by revenue.

    Where does Netflix operate?

    Netflix is a subscription-based video streaming platform, which as of 2021, have over 208 million subscribers. Among which 74 million are from the United States and Canada. Netflix is served worldwide excluding some restricted places such as Syria, Mainland China, North Korea, Crimea. The restrictions are because of US sanctions.

    Key Services of Netflix

    Netflix provides some very intriguing customer services. But the most exclusive ones are video streaming and on-demand video (Watch Now) streaming services. When these streaming services were launched, they allowed the subscribers to stream one dollar spend per hour, on the monthly subscription. Later in 2008, this was modified and the subscribers were allowed to stream unlimited with no further charge.

    In 2016, Netflix introduced the online streaming feature. This allowed subscribers to save up the media on their devices (Android and iOS) in high quality to watch even without an internet connection. Moreover, it also brought Netflix Party Services where people could watch Netflix’s programs together.

    In 2018, Netflix introduced the “Skip Intro” feature which allows the subscriber to skip the intros of the show while streaming. Then in March 2021, Netflix launched a feature that warns the user for sharing their account passwords with others.

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    Target Audience of Netflix

    Netflix is known as the world’s leading online television platform which crosses the hundred million members count in over 190 countries.

    Netflix mainly targets the males and females of the age group of 17-60 along with an income value of $30,000 or more. The targeting in Netflix is based on psychographics but not on demographics.

    Business Model of Netflix

    The business model of Netflix is based on subscription packages. The Netflix platform is developed to please the audience across the globe and that’s why the catalogue covers hold different assortments of movies, web series and shows of all genres, preferable for all ages. Netflix’s value proposition is entirely based on its on-demand service whenever you want. It shows high-quality videos and distinct variety.

    Netflix offers the best video streaming experience to its users. Along with the technology investment, the company also prioritizes the content offerings. It analyzes its customer’s behaviour and provides them with a personalized experience.

    When Netflix was started, it didn’t have a prominent cost structure which resulted in poor cash flow. But they improvised this issue as the new business model demanded a big investment value. Today, The company’s big cash flow includes:

    • purchasing content and rights,
    • recommending through AI,
    • producing shows,
    • Amazon AWS and technology,
    • data centres for streaming content
    Revenue generated by Netflix
    Revenue generated by Netflix

    What is Unique about the Netflix Business Model?

    Netflix business model is proven to be one of the most successful business models across the globe. But here the question arises, What’s so unique about the business model of Netflix? Well, it’s the on-demand video subscription model or SVOD model. In this model, the subscribers pay to get access to the media content of Netflix on a monthly basis. Hence, the subscribers of Netflix are the major source of revenue.

    However, Netflix does not offer any free offers like those on Spotify and others. With the incredible media content, the users do not have any other options but buy the monthly subscription package. With the ad-free media services by Netflix, users get total convenience. Moreover, Netflix also offers a DVD rental for a subscription basis. This is also widely preferred by people.

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    How does Netflix Make Money?

    As we have discussed previously in the article, Netflix’s main source of revenue is its subscribers as the business model is based on the on-demand video subscription plan. And with this in knowledge, Netflix has over 180 million subscribers. And that is a fancy number.

    However, many surveys also recommend that Netflix could increase its revenue from advertising but the company declined as it could lower the user’s experience for the platform.

    Today, Netflix offers three kinds of subscription packages which we have discussed below:

    1. Basic Package: Access to unlimited movies and Shows available on any device at the lowest price. It does not provide HD content and allows only one screen at once.
    2. Standard Package: Two screens are available along with HD quality video.
    3. Premium Package: The top plan offers media in ultra HD quality and allows four screens at once.

    Conclusion

    The Business Model of Netflix is entirely based on its users. It tries to catch as many audiences as it can. Basically, the entire revenue is based on the user’s subscription purchasing. And with the era of binge-watch, Netflix is receiving a great level of success. Started with such a small business, today Netflix has achieved remarkable heights of success and there’s a lot more on its way.

    FAQ

    What is the revenue of Netflix?

    The revenue of Netflix is 2,500 crores USD in 2020.

    Who is the founder of Netflix?

    Netflix was first founded in August of 1997 by two serial entrepreneurs, Marc Randolph and Reed Hastings.

    Who is the CEO of Netflix?

    Ted Sarandos is the CEO of Netflix.

  • Why Carnival, the biggest Cruise company, facing shortage of ships to deliver?

    The tourism and hospitality industry were the most affected during the Coronavirus pandemic and is still said to have been reviving from it. Some of the 5-star hotels have been shut down as they did not have the revenue to pay the employees.

    Carnival which is the world’s biggest cruise company has reported that their demand has been increasing. The company had sold around 19 ships during the pandemic and reduced its capacity to 13%. But now the company is planning to buy back the ship and increase it by around 2.5%. In this article let’s look at the reason for the increase in demand.

    Carnival – Latest News
    Reason Why demand for Ships Increased
    Carnival CEO on the Rising Demand of Cruise bookings
    Carnival CEO on Covid Precautions
    Carnival CEO on Unvaccinated Passengers
    Carnival Company’s new Cruise launch
    FAQ

    Carnival – Latest News

    Carnival is the world’s biggest cruise company. The CEO of Carnival has conveyed that there is a huge demand for travel and the number of strips is outnumbered by the demand. The CEO of Carnival Corp has stated that the demand across its 9 cruise lines is rapidly increasing and added that the Americans are enthusiastic and eager to get back on the water.

    Arnold Donald, the CEO of the world’s biggest cruise company has said that people are impatiently waiting to get back to cruise again. He added that the company has no issues in being able to fill the ships. People are ready to sail but the fact is that the company has far more demand compared to the ships that they have available right now to supply.

    Reason Why demand for Ships Increased

    The CEO has stated that the people are confident about the safety measures taken by cruises and even the vaccine roll out is being continued in the United States. The vaccine shots have acted as a huge game changer and according to Arnold Donald, the bookings were vigorous and the most highest in the history of the company.

    People are ready and are spending a lot of money on board. Travelers are eager to spend their money on extra cash items such as Casinos, luxury meals, massages, etc.

    Carnival CEO on the Rising Demand of Cruise bookings

    Arnold Donald has said that during the second quarter of the company’s business update that was held on 24 June 2021, the company has conveyed that the booking volume of the cruises in the future was higher than the 1st quarter of up to more than 45%. He stated that the advance bookings for 2022 were way higher than 2019 due to the increased demand amongst the people.

    Revenue of Carnival Corporation & plc worldwide
    Revenue of Carnival Corporation & plc worldwide

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    Carnival CEO on Covid Precautions

    While speaking about the Covid precautions taken on board the CEO of Carnival Corp has conveyed that some of the cruise lines of Carnival including Costa, have been sailing out of Europe during the Pandemic.

    He added that most of the travelers were unvaccinated but the company had ensured that it took necessary precautions and followed the basic SOPs such as social distancing, wearing masks, periodical Covid tests and intense medical screenings.

    The CEO added that the guest satisfaction scores were flying high as there were less than 50 cases of Covid positive reported out of around 400,000 guests that were onboard.

    The company is expecting some unvaccinated people to be on board from the United States and also adds that these passengers and Travelers will have to take the necessary Covid measures which include wearing masks and periodic Covid tests.

    Carnival CEO on Unvaccinated Passengers

    The world’s biggest cruise and also the celebrity cruise had laid down new regulations that were subjected for the unvaccinated passengers. The passengers or travelers that haven’t taken the vaccination or did not want to show the proof of vaccination intake will have to go through certain onboard restrictions, additional costs and Covid tests. However, the company has conveyed that the passengers who are fully vaccinated would prevent from the risk of spreading the Covid-19.

    The CEO conveyed that if the virus is on board, then there are chances that the passengers would catch it even though the company has put a lot of restrictions. However, he clarified it by adding that they can’t guarantee on not being a single case on board but the chances of an outbreak seem to be really low.

    A fully vaccinated cruise, Royal Caribbean cruise that was sailing from the Bahamas has tested two positive cases of Covid-19 from two of the passengers on board. Both the passengers were under the age of 16 and were exempted from the vaccine mandate.

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    Carnival Company’s new Cruise launch

    The company has a launched a new cruise which is the latest cruise. The cruise would set its sail on 31 July 2021 from Port Canaveral to Easter and the Western Caribbean. The cruise is the first in the world to have a roller-coaster on board and also the first cruise in the Northern America to be run on a liquefied natural gas.

    Conclusion

    The company is expected to sailing at least 52% of its capacity by the end of November and is expecting to have its entire fleet into operation by the spring of 2022.

    FAQ

    Has Carnival Cancelled any cruises?

    Carnival Cruise Line cancelled some of its July 2021 cruises, but it will still sail some ships from the U.S. in July.

    What is the Revenue of Carnival cruise?

    The revenue of Carnival Cruise in 2020 was 559.5 crores USD.

    What is Carnival Cruise net worth?

    The net worth of Carnival in 2020 was US$−10.236 billion, as due to Covid restrictions the company faced a huge loss.

  • What is the Tip Jar option on Twitter | Twitter creators can now earn through their content

    India is one of the biggest markets for the microblogging platform Twitter. The country is the 3rd largest market for Twitter after the US and Japan. The number of Twitter users in the country had seen a growth in the year 2020 of more than 70%. The company has launched a new feature in India called Tip Jars. Let’s look at more information regarding the feature.

    Twitter – Latest News
    What is the Tip Jar feature on Twitter?
    How to use Razorpay for receiving tips on Twitter?
    Other upcoming features on Twitter
    FAQ

    Twitter – Latest News

    The social media giant, Twitter on 24 June 2021, has released a new feature on its platform which is called Tip Jar. This feature will be available on the microblogging platform in India where the users can contribute money in the form of tips to their favorite content creator or an organization according to their choice and wish.

    The social media platform has collaborated with the Indian-based payment gateway in order to roll out this feature.

    What is the Tip Jar feature on Twitter?

    Twitter had announced that it has added Razorpay as an option to its Tip-Jar feature, which will make it easier for Indians to send and receive cash gifts from their followers or the users who love their content.

    The feature is available only for a handful of people that include creators, journalists, community leaders, experts, public figures, and currently can be used by Twitter users on iOS and Android devices. The service is also available within spaces on Android devices.

    Tip Jar was first introduced in May and users have the option to tip their favorite content creators using various payment gateways such as PayPal, Patreon, Bandcamp, Venmo, Cash App and now the company recently added Razorpay as well.

    The Twitter users that use Razorpay in order to tip their content creators can send money through a wide range of options such as UPI, Debit Card, Credit Card, Net Banking, Wallets, etc. The Tip jar services in the country are available in many languages such as Hindi, Marathi, Kannada, Gujarati, Tamil, and Bengali. This will enable to feature to be accessible around the country.

    Another important tip to note about Tip Jar is that the microblogging platform does not take any cut or a percentage from the money tipped to the content creators. All the money that is tipped can be kept by the content creator itself.

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    How to use Razorpay for receiving tips on Twitter?

    If you are one of the content creators who come under the above mentioned category, you can follow the below steps in order to receive tips using Razorpay from your followers.

    • In the first step you need to create a Razorpay account.
    • Then, you will have to turn on the Tip Jar feature on Twitter, allow tips and click on Razorpay.
    • After that, you will have to paste the custom suffix from the payment page of your dashboard.
    • Now, you will have to copy the URL and it will get placed on the Tip Jar advertisement.

    Other upcoming features on Twitter

    Twitter has been trying ways through which content creators can monetize through the social media platform. The company is said to be currently testing ticketed spaces where the users host a Twitter Space where they can charge the users or followers who are interested to attend with an amount as low as USD 1 to as high as USD 999.

    The company is also working on super follow through which the content creators can earn a monthly revenue by offering interaction and extra content through a monthly subscription process. The ticketed space and Super Follow feature are still being tested by the company and haven’t been rolled out widely.

    Conclusion

    The Tip jar feature that is introduced by Twitter is a move from the company to help people to earn or monetize their content on the social media platform. Twitter is one of the major social media platforms in the entire world.

    FAQ

    How does Twitter make revenue?

    Twitter divides its revenue into two categories: the sale of advertising services, which constitutes the vast majority of the company’s revenue, as well as data licensing and other services.

    What is Twitter’s net worth

    Twitter’s net worth is estimated to be about $35 billion. Twitter’s main sources of income are Ad and data licensing.

    Do celebrities get paid to tweet?

    Yes, many athletes and celebrities earn through Twitter.

  • What is MicroStrategy and why they hold over 100,000 bitcoins?

    Bitcoins have seen a lot of criticism at the same time a lot of people supporting the value and boosting the price of bitcoins and aggressively investing into it. Elon Musk is one of the well known person who has done it and also been criticized for it. In this article let’s look at, Why MicroStrategy holds more than 100,000 bitcoins that is worth more than USD 3 billion.

    MicroStrategy – Latest News
    About MicroStrategy
    How MicroStrategy got Hit after the Purchase of Bitcoin
    How the purchase of bitcoins benefited MicroStrategy
    How did Michael Saylor responded to the purchase of bitcoins
    FAQ

    MicroStrategy – Latest News

    MicroStrategy is estimated to hold bitcoins of over 100,000 in pieces that are worth more than USD 3 billion after a recent purchase from the company. The company is said to have spent around USD 489 million in order to purchase around 13,005 tokens.

    About MicroStrategy

    MicroStrategy is a Virginia based software company that was incorporated in the year 1989. The company provides cloud based services, mobile software and business intelligence. The firm focuses on making business decisions and making mobile apps by developing software and analyzing the internal and external data.

    It is a Public Limited company that is listed on Nasdaq and S&P 600. The primary competitors of the company in the Analytics field include SAP, Oracle and IBM congos. The company employs around 1997 members.

    How MicroStrategy Shares got Hit after the Purchase of Bitcoin

    On 21 June 2021, the shares of the company had seen a fall of around 9.7%. The fall is expected to be a mirroring of the fall that had happened with the bitcoin price where the digital coin had seen a downfall of over 7% which is around USD 32,600 per token.

    MicroStrategy has conveyed that the average purchase price of its bitcoins of 105,085 tokens is around USD 26,080 per token. This amount was inclusive of the fee and other expenses incurred during the purchase. As of 21 June 2021, the holdings of the company were worth more than USD 3 billion.

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    How the purchase of bitcoins benefited MicroStrategy

    The company has claimed that due to the purchase of bitcoins and the returns generated through it the company which was wiped off or not even recognized on Wall Street has become very popular and well known in the field and the crypto community after the dot com crash.

    This is mainly due to the aggressive investment into bitcoins by the CEO and Chairman of the company Michael Saylor. The CEO is known for posting regular tweets about bitcoin on Twitter and has around 1 million followers on the micro blogging platform.

    How did Michael Saylor responded to the purchase of bitcoins by MicroStrategy

    Michael Saylor, In a recent interview defended the investment by the company made into bitcoins by issuing a debt instrument, to which most people didn’t agree with. He conveyed in the interview that the company could rotate the shareholder base and was able to sell enterprise software and later on acquire and hold bitcoins with the income and he added that the company has done it successfully using the leverage.

    He also said that this strategy has been driving the business and the power of the brand by a factor of 100. He also stated that they had the best quarter compared to the last 10 years and stated that the revenue of the company had seen an increase of 10% year on year.

    He added that the business of bitcoin is driving the returns of the shareholders and said that the shareholders are happy and the employees of the company are happy too.

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    Conclusion

    The CEO and Chairman of MicroStrategy, Michael Saylor has and will always be one of the promoters of bitcoin and recently had said in a press release that he is happy and thrilled about the decision made by El Salvador in order to accept bitcoin as a legal tender in the country. He added that he thinks that it is a good thing.

    FAQ

    What does MicroStrategy company do?

    MicroStrategy provides a platform that enables departments and enterprises to deploy web-based reporting and analysis solutions. MicroStrategy also offers consulting, training, and support services.

    Who is the CEO of MicroStrategy?

    Michael J. Saylor is the CEO of MicroStrategy.

    Why is MicroStrategy stock so high?

    Shares of MicroStrategy soared because the price of Bitcoin is also soaring. As MicroStrategy owns quite a few Bitcoins, so it benefits when the price is rising.

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

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

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

    Facebook Smartwatch – Latest News

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

    Features of the Facebook Smartwatch

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

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

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

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    Why is Faceboook Launching its Smartwatch?

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

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

    Previous Hardware products by Facebook

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

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

    Reason Why Facebook’s Smartphone failed

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

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

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

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

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    Conclusion

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

    FAQ

    Did Facebook make a phone?

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

    What will be the cost of the Facebook Smartwatch?

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

    When will the Facebook Smartwatch launch?

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

  • Is Fiverr still a great place for freelancers in 2021? [Case Study]

    Fiverr is an online marketplace for people to find and give services of various types. Since its launch in 2010, Fiverr has grown into an arena of opportunity in itself with more than three million gigs in its database. It has become the largest marketplace for digital services in the world. Each service on Fiverr cost a minimum of $5 until 2014. After that they removed this price limit as the marketplace grew.

    How does Fiverr work?
    Categories in Fiverr
    Pros of using Fiverr
    Cons of using Fiverr
    Analysis of Fiverr in 2021
    Tips for Sellers on Fiverr
    Tips for Buyers on Fiverr
    FAQ

    How does Fiverr work?

    Fiverr more or less works like any other place where one looks for a service and the other offers one. The sellers mention the services that they can provide and those who want to buy it will ask a few questions to confirm if the service matches their requirements and make a purchase accordingly.

    Amidst this business, Fiverr takes 20% of the transaction. As mentioned earlier, the variety of services that can be found here is really wide and what you can do is to make a mini sales pitch by explaining your potentials that will make the buyers make the purchase.

    It is a credible website with its own customer support. They will help you regarding any concerns at any point of time. It protects both buyers and sellers in a judicious manner. As a buyer, if your order is not delivered, you can either get a refund or an extension. The sellers can take a test which is a new feature of the website that will add to their credibility. Good reviews, information about their education will further strengthen the credibility of a seller on the website. The quality of the seller can be assessed by the buyer by going through their ratings and reviews.

    Categories in Fiverr

    The following are the major categories that are available in Fiverr. All these categories contain more than 30 subcategories.

    • Video And Animation
    • Music And Audio
    • Graphics And Design
    • Video And Animation
    • Writing And Translation
    • Programming And Tech
    • Business
    • Lifestyle
    • Digital Marketing

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    Pros of using Fiverr

    Exposure

    The variety of projects that you get to work in Fiverr is unmatchable.

    Easily accessible

    The website is constructed in such a way that it is extremely easy to get a hang of it and locate the suitable service.

    Additional Income

    No matter how less or more the buyer pays, it is definitely an additional source of income. It is always good to tap at this opportunity.

    Cons of using Fiverr

    Underpaid

    If not often, at least in the beginning you will be disappointed to observe that you are underpaid for your services. Apart from that, 20% of the transaction goes to Fiverr and this makes the situation further grim for the seller.

    Inconsistent

    With the style of transaction in itself, it is clear that Fiverr does not offer continuous money. It completely depends upon how you do the business with the buyer – and hence Fiverr can never be a reliable source of income.

    Delayed Payments

    Fiverr takes upto 14 days to complete their payments. If you are a verified seller, chances are that your payments will be transacted faster.

    Pressure

    Fulfilling requirements can be stressful in most of the cases. This happens especially in the beginning mainly because the seller does not want to get any bad reviews.

    This also means that sellers will have to sacrifice upcoming orders in order to prioritise the existing ones.

    Fake reviews

    This is the biggest bane of Fiverr for all its stakeholders. Sellers write or hire people to write fake reviews for them and will mislead the buyer into losing money for low quality work.

    Lack of satisfaction

    It is unlikely that neither seller nor the buyer gets satisfied in the transaction although satisfaction is not a rarity. In many cases, the seller is underpaid and the buyer often gets low quality works done.

    This adversely affects the business of both the buyer and the seller.

    Analysis of Fiverr in 2021

    From various reviews and studies, it was observed that Fiverr is not a great place for freelancers any more. It has lost its reputation over the period of time. Its ranking systems are flawed and fake reviews outnumber the original ones. There is always a lack of communication between the buyer and the seller which creates a trust issue all the time. It has become the market for the smart ones.

    It’s good for those buyers who have a way with choosing the right service in the right quality or to be precise; for those who know how to exploit the service providers.

    And as far as the seller is concerned, they mostly provide low quality works in a way that was not advertised. It is a loss for them. The competition is so high that they have to lower their prices to stay in the market. Once they do that they might get more orders. Many sellers in Fiverr say that they work too hard for too little money. Most of the transactions occur at the base price of $5 which makes things largely dull for the sellers.

    Fiverr annual spend per buyer
    Fiverr annual spend per buyer

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    Tips for Sellers on Fiverr

    • Set the price that is worth your effort. In this way only the right customer gets to you. It will help in ensuring satisfaction on both ends.
    • Make use of the resources that is put forth by Fiverr that will help you in improving your business.
    • Be honest to your work and deliver orders on time.
    • Focus on quality and not quantity – over time you can develop a strong base which can convince your buyer the reasons for the service’s  relatively high price.

    Tips for Buyers on Fiverr

    • Do not be blinded by reviews, it can be fake.
    • Read the negative reviews before you place your order.
    • Be clear about what you want.
    • Focus on quality of the work rather than trying to get work done at a cheap rate.
    • Do not hesitate to complain if the order delivered is not satisfactory.

    Conclusion

    However, it cannot be ruled out that there are a lot of decent people there too. Be careful about the red flags and contact customer support in case of any help. Do not lower your prices for more business and ensure that you get the right buyer and seller. After all, no place is bad when people on both sides have the right intentions.  

    FAQ

    Which country uses fiverr the most?

    Most of the Fiverr traffic comes from India and then followed by US.

    What sells best on Fiverr?

    Product Demonstration Videos, Video Editing, Video Intros & Outros for Business, Slideshow Videos, Logo Design, and Photoshop Editing are some of the jobs that sell most on fiverr.

    What is a gig in fiverr?

    A Gig is termed as the service you offer and sell within the marketplace at Fiverr. Your Gig is an opportunity to showcase your talent to potential customers, as well as to provide all the information they may need prior to placing an order.

  • Report: How did Bangladesh overtake India in Per Capita Income?

    Bangladesh which is officially known as the People’s Republic of Bangladesh is a country situated in the South Asia. It is the 8thmost populated country in the world. The country had partitioned from India as part of Pakistan during 1947 and later got its independence from Pakistan in the year 1971.

    Recently the country has announced that it has achieved a per capita income higher than that of India. In this article let’s look at how the country surpassed India in regards to the per capita income.

    Per Capita Income of Bangladesh – Latest News
    Reasons Why Bangladesh saw growth of the per capita income
    Foreign remittances of Bangladesh
    Further steps taken by Bangladesh
    FAQ

    Per Capita Income of Bangladesh – Latest News

    The Per Capita Income of Bangladesh have seen an increase of up to USD 2,227 which is considered to be higher than India by USD 280 where India’s per capita income is USD 1,947. The planning minister of Bangladesh M.A Mannan had conveyed the cabinet of the country this week that the per capita income of Bangladesh had seen an increase from USD 2,064 to USD 2,227.

    The Cabinet Secretary of Bangladesh, Khandker Awarul Islam had said that the country has seen a growth in their per capita income during the fiscal year 2020-21 which is a 9% growth from the previous year.

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    Reasons Why Bangladesh saw growth of the per capita income

    The major reason for the growth of the per capita income of Bangladesh is due to the Awami League which took charge in the year 2009 according to Information and Technology minister of Bangladesh, Tarana Halim.

    She conveyed that the leader of the country Hasina had focused on the economic and human development with a strong benefit for the poorest. She also added that the country has a strong civilian government which has benefitted from having a good relation with India.

    Halim had also criticized certain Western Analysts who said that the growth of the country was due to the micro-credit NGOs in the country. She added that the micro-credit NGOs don’t invest in the education, infrastructure and connectivity which were the real reasons for the growth of the country.

    Per Capita GDP of India in USD
    Per Capita GDP of India in USD

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    Foreign remittances of Bangladesh

    Halim has conveyed that the country had invested heavily in these areas which had driven the growth and now the country is reaping the benefits of their investment. She also said that the foreign remittances have been another reason for the growth of the country.

    They have grown into a strong pillar for Bangladesh with an inflow of around USD 3,500 million expected in the year 2021. She conveyed that it has become possible as the government had laid strict restrictions on the labour exports.

    She also conveyed that the country has tightened the regulations on illegal migrations as those who go through an illegal mode wouldn’t send back remittances to the country.

    FAQ

    What is the per capita income of India at present?

    India’s per capita net national income or NNI was around 126 thousand rupees in financial year 2021.

    What is the per capita income of Bangladesh?

    The per capita income of Bangladesh is $2,227.

    What is Bangladesh’s main source of income?

    Bangladesh is driven by its exports of ready made garments, remittances and the domestic agricultural sector.

    Conclusion

    Bangladesh is more pleased as they are way ahead compared to Pakistan, it considered as a sweet revenge for the cruelty by the Pakistanis towards the country which is the genocide of 1971 where around 3 million people where killed by the brutal army of Pakistan.

  • How did CEAT Tyre’s witnessed Profit growth even though people are not driving

    CEAT is an Indian based Tyre manufacturing company. The company is owned by the RPG group. The CEAT company was founded in Italy in the year 1924. The company has its headquarters in Mumbai, India. CEAT is considered to be the leading tyre manufacturer in the country with a global presence.

    CEAT manufactures tyres for trucks, busses, passenger cars, two wheelers, earth movers, light commercial vehicles, tractors, auto rickshaws and trailers. Let’s look at the reason behind the growth of the company’s profit even though the driving and riding of vehicles in the country has reduced.

    Results of Q3
    Reason for the Profit
    Segments in Focus
    Focus Markets of Ceat
    FAQ

    Results of Q3

    On 4 May 2021, CEAT Ltd which is a company under RPG group had announced that the company has achieved a net profit of INR 132.34 crore during the Q3 which was ended on 31 December 2020. The net profit has been reduced to around 27.35 % when compared to the previous quarter of the same fiscal year.

    The company had achieved a net profit of INR 182.8 crore in the Q2 of this fiscal year. CEAT Ltd has seen an increase in its revenue from operations for the Q3 of this fiscal year of INR 2,221 crore when compared to the Q2 of the fiscal year which was INR 1,978 crore.

    When compared to a year-on-year basis the profit of CEAT tyres has seen an increase by INR 152.07 % compared to the previous year’s quarter’s INR 52.5 crore. The revenue from operations has also seen an increase on the year-on-year basis of around 26.08 %. The revenue from operations in the previous year was INR 1,761.77 crore.

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    Reason for the Profit

    Kumar Subbiah who is the CFO of CEAT Limited conveyed that the Tyre manufacturing industry is facing an increased demand with a robust demand in the replacement market. He added that the growth of the company in the last quarter of this fiscal year will largely be because of the demand by the replacement market.

    He added that the company despite having a not so good quarter has grown the most in past nine months when compared to the same period during the last year. Compared to last year, the quarter 2 of this fiscal year has seen a growth of around 14 % and around 27 % in quarter 3 compared to the last year’s quarter 3 growth.

    Kumar Subbiah said that for the Q4 the company is expected the demand to increase in most of the categories. He added that in the OEM sector the demand for some categories has come down after the festival season.

    The company wants its growth to be driven largely by the replacement market which should be followed by the OEM. He said that around 15 % of the company’s revenue comes from exports, around 60 % through the replacement market and around 30 – 35 % from the OEM sector.

    Tyre Industry Sales
    Tyre Industry Sales

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    Segments in Focus

    The company said that going forward it would be looking to focus on the passenger sector which will be completely on the passenger car and two-wheeler tyres.

    He said that the company’s investment in Chennai and Nagpur factories is completely concentrated and directed towards the passenger segment.

    Focus Markets of CEAT

    The company said that it would focus on the North American and the European market in the coming years. The CFO added that the company’s presence in the European market has been increasing and the company is working towards increasing its presence in North America.

    He added that there are a lot of queries from different countries that are looking to reduce Chinese manufacturers and enquiring whether India could start producing it locally and supply the required tyres to them. He added that, India is in a great position to take the advantage of the situation.

    FAQ

    Where are CEAT Tyres made?

    Ceat tyres currently has 4 manufacturing facilities at Bhandup Nashik Nagpur and Halol and is setting up a new facility near Chennai.

    When did RPG acquire Ceat?

    RPG group acquired CEAT Tyres of India in 1981.

    Who is Radha Goenka?

    Radha Goenka is the Director at RPG Foundation.

    Conclusion

    CEAT had planned to invest around INR 800-900 crore this fiscal year but due to the global pandemic and the slowdown of the economy they had to cut it down to INR 550 – 600 crore. The company is planning to spend more in the next fiscal year as there is some traction and the sales are expected to increase this year.