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We have been seeing technology and digitisation take a place in almost all industries, be it education, manufacturing, or corporate, and now the healthcare sector is not behind. It can be safe to say that the world has been seeing outstanding health IT transformation.
We see almost every hospital and private clinic today has taken over digital transformation over traditional methods. They are truly putting in a lot of effort to change the way they deliver healthcare through new and innovative techniques.
Innovaccer is one of the leading digital healthcare IT platforms that offer effective healthcare solutions to improve clinical outcomes and patient satisfaction.
In this article, let’s look at Innovaccer’s startup story, what they are about, founders and team, business structure and revenue model, challenges faced, competitors, and more.
Launched in 2014, Innovaccer is a cloud-based platform to improve the overall healthcare systems. Their platform provides physician practices, hospitals, health systems, and other healthcare providers with various innovative digital products. Innovaccer helps to collect, analyse, and provide insights on patient health.
It is an AI-powered patient and physician engagement and features many customisable tools that help in delivering desired outcomes. It has options such as care management, referral management, and patient engagement.
Innovaccer – Industry
Innovaccer belongs to the digital healthcare IT service provider. This industry is growing exponentially over the past years. As per reports, the digital health sector has exceeded $141.8 billion in 2020 and is anticipated to grow by over 17.4% by the end of 2027.
Innovaccer – Founders and Team
Sandeep Gupta, Abhinav Shashank, and Kanav Hasija – Founders of Innovaccer
Sandeep Gupta
Sandeep Gupta is the co-founder and Chief Operating Officer of Innovaccer. Before starting his entrepreneurial journey, Sandeep started his career as a Software Engineer at TCS, then he worked at Microsoft and Ingersoll Rand. He graduated from the Indian Institute of Management, Ahmedabad.
Abhinav Shashank
An alumnus of IIT, Kharagpur, Abhinav Shashank is one of the founding members and CEO of Innovaccer. Other than this, Abhinav is a talented and renowned author and has published over 300 articles for various international media outlets. He has been featured in Forbes 30 under 30 Asia 2017: Enterprise Tech and also in “Top 60 Rising leaders in U.S healthcare under 40′ in 2019.
Kanav Hasija
He serves as the CCO and is the co-founder of Innovaccer. He is an IIT, Kharagpur graduate in B.Tech and a Patent Law degree from the University of New Hampshire, School of Law, formerly Franklin Pierce Law Center.
He has worked as an intern at General Electric and was a Principal Consultant at Kharagpur Consulting Group (KCG). Kanav has a rich experience in the field of Big Data, medical analytics, and research. He is a recipient of the Honorable mention for excellence in technology’ from the Indian Institute of Technology.
Innovaccer – Name, Tagline and Logo
Innovaccer goes by the tagline, “Accelerate Your Digital Transformation with the Innovaccer Health Cloud”.
Their work rightly shows there in the tagline as they are helping many healthcare companies with various digital solutions.
Innovaccer – Startup Story
Founded by Abhinav Shashank, Kanav Hasija, and Sandeep Gupta, Innovaccer serves to be one of the most effective digital healthcare sectors today.
Abhinav came up with the idea of Innovaccer while working on a project at Harvard. Along with his partners, they want to create a bridge and fill the gap between digital health and health care.
By working a lot day and night, they wanted to come up with an ecosystem for companies to help them build applications through their platform.
The company started receiving praises from investors and last year Innovaccer announced its $150 million Series-E round at a $3.2 billion valuation.
Innovaccer – Mission and Vision
The company’s mission is to accelerate the growth of healthcare in a digital world by pulling off innovative and technique methods.
Innovaccer’s mission reads, “Connect and Curate the World’s Healthcare Data and Make It Accessible and Useful.”
Innovaccer – Funding and Investors
Date
Funding Round
Funding Amount
Investors
14 May 2015
Seed
$2.5M
Start Smart Labs, 500 Startups, Rajan Anandan
11 Aug 2016
Series A
$15.6M
WestBridge Capital
10 May 2018
Series B
$25M
Lightspeed Ventures Partners, WestBridge Capital
20 Jan 2019
Series B
$10M
M12
14 Feb 2020
Series C
$70M
Steadview Capital, WestBridge Capital, M12
24 Feb 2021
Series D
$105M
Tiger Global Management, Steadview Capital, Dragoneer Investment Group
15 Dec 2021
Series E
$150M
Mubadala Capital, B Capital Group, M12
Innovaccer – Business Model
The company mainly operates its customers by creating a patient-centric platform. It offers digital products in the areas of population health management and Pay-for-performance.
Their business is majority about the cloud platform – Innovaccer Health Cloud that provides a robust solution to solve the problems and challenges faced by hospitals, pharmaceutical companies, and insurance companies to help them store data and bring in higher efficiencies for them.
The health cloud platform key functionality is:
Data Activation platform
Application Suite
Innovation Toolkit
Accelerators
Key customers of Innovaccer
UpStream
Chess Health
Banner Health
MercyOne
Hartford Healthcare
CHI health partners
Innovaccer – Revenue Model
The company raised almost a value of $150 million in its last funding round. The company believes that this is the era of digital healthcare and more importantly after the pandemic.
The company earns its revenue through the health cloud platform by helping other sectors with cost savings. Their platform has about 39 million patients and 96,000+ providers across 1,600+ locations.
Innovaccer is India’s first healthcare unicorn. They believe that the company has been providing innovative solutions and is confident about its future
Innovaccer – Challenges Faced
Although the company is succeeding and growing at a rapid rate, the risks associated with data are a crucial factor. It is up to Innovaccer to properly leverage the digital framework and keep storing the data with constant monitoring and making necessary and regulatory changes as and when needed to their risk analytics.
The company is always under pressure to maintain compliance to ensure data accuracy.
Innovaccer – Competitors
Digital healthcare is undoubtedly expanding, with many companies in the market offering their IT services in healthcare and promoting their brands.
Some of the biggest competitors of Innovaccer are:
Accolade
Castlight
Artemis Health
Carrum Health
Zoom for healthcare
Doxy
Nexthealth Technologies
Reveleer
VSee
Innovaccer – Awards and Achievements
Some awards won by Innovaccer are:
Best in KLAS Data & Analytics Platforms – 2022
Black Book – 2022
Certified NCQA HEDIS MEASURES – MY2020 Health Plan and Allowable Adjustments Measures
AHIP Affiliate Organisation Member 2021
Innovaccer – Future Plans
The company plans to keep delivering the best and most high-quality digital products in order to improve the healthcare sector in the world.
Sandeep Gupta says, “We want to be the ubiquitous platform that is powering all those innovators across the healthcare ecosystem, and at the center of it is the patient who is getting better care and better-coordinated care because of everything that we are able to do around them”
FAQs
Who is the founder of Innovaccer?
Sandeep Gupta, Abhinav Shashank, and Kanav Hasija are the founders of Innovacer.
Is Innovaccer an Indian company?
No, Innovacer is a Silicon Valley-based digital healthcare company.
What is the revenue of Innovacer?
Innovacer generated revenue of $100 million in ARR as of 2021.
Today when we talk about the world’s most influential and richest entrepreneurs, Elon Musk comes to our minds for sure. He has always been in the news, let it be his new venture, his way of working, or his net worth.
Elon Musk’s tweets catch the attention of the masses; be it Elon Musk naming his baby X Æ A-12, which created a lot of buzz around the globe, or the “How Strange. Well, back to work…” one after Bloomberg announced him the richest person in the world, but only a few know about his life story.
Elon Reeve Musk was born on June 28, 1971, in Pretoria, Transvaal, South Africa. Elon Musk is an innovative business person, financial specialist, and engineer who is one of the most popular entrepreneurs in the world. He holds South African, Canadian, and U.S. citizenship. Elon Musk is the founder, CEO, and lead planner of SpaceX as well as a fellow benefactor, CEO, and item engineer ofTesla, Inc.
Elon Musk became the Richest Man in the World on January 7, 2021, after Tesla’s share price surged by 7.9%. It helped him to surpass Jeff Bezos. Musk was featured on the top of the Bloomberg Billionaire Index, a list of the top 500 richest people in the world, on 7th January 2021. Musk had added more than $122 billion to his fortune in the year 2021, which pushed his net worth to $292 billion, according to the reports dated October 2021. This made Elon Musk the first person to be the owner of such a huge fortune. Elon Musk’s net worth was then estimated to be $195 billion, which is currently estimated to be over $220 billion. He debuted on the list of the world’s richest persons back in 2012, when his net worth was estimated at $2 billion.
The tech tycoon went ahead with a bid to buy out Twitter by acquiring 100% of the Twitter stakes on April 26, 2022, in a deal worth $44 billion. However, the deal is still pending and the popular social media platform is yet to turn into a privately held entity.
To know more about the entrepreneur Elon Musk, Elon Musk biography, the answers to “what has Elon Musk studied?”, “what companies has Elon Musk founded?”, “what is Elon Musk famous for?” and more, stay glued!
Founder, CEO, and Chief Engineer at SpaceX; CEO and Product Architect of Tesla, Inc.; Founder of The Boring Company; and Co-founder of Neuralink and OpenAI
Elon Musk was born in Pretoria, South Africa, to a White South African electromechanics Engineer, pilot, sailor, consultant and product developer, who was his father and a Canadian Dietitian and model mother. Errol and Maye Musk divorced in 1980. Though Musk initially started to live with his father in Pretoria and elsewhere immediately after the separation of his parents, Elon later regretted his choice and started to be estranged from his father. Elon Musk has been described as an awkward and introverted child throughout his childhood and he has also been a victim of regular bullies in his school days. In one such incident, Musk was pushed by a group of boys down a flight of stairs and he was hospitalised later.
Elon Musk – Career
Elon Musk joined Anglican Sunday school in his youth. He later entered Queen’s University, in Kingston, Ontario in 1990. He was soon transferred to the University of Pennsylvania after 2 years, from where he graduated in 1995 with a Bachelor’s degree in Physics and Economics.
While still enrolled in his course, Musk then held 2 internships in the summer of 1994 in Silicon Valley, at the Pinnacle Research Institute and Rocket Science Games. He then was accepted as a PhD scholar in Materials Science at Stanford University in California in 1995. However, Musk later dropped out of the course and decided to join the internet boom and launch an internet-based startup.
Elon Musk – Personal Life
Elon Musk is the eldest of the three siblings, Kimbal and Toska, who are the younger brother and sisters of Musk. Elon’s adenoids were removed when he was a child because his parents were apprehensive that he was deaf, however, they discovered later on that it wasn’t true. His parents divorced in 1980. After their divorce, though Musk initially gravitated towards his father, he chose his mother later.
Musk’s marital life started with Justine Wilson, a Canadian author, whom he married in 2000 when he was at Queen’s University. They first had a son, who died of SIDS at 10 weeks. After that, the couple gave birth to a twin and a triplet. Talulah Riley was the second wife of Musk. However, they eventually got divorced and then remarried, and again got divorced for the second time. After ending this marriage, Musk dated Canadian musician Grimes, who later gave birth to a son in May 2020. Their son was named X AE A-XII.
How Elon Musk started his Journey?
Musk developed an interest in computing and video games from a very early age. He acquired Commodore VIC-20 when he was only 10. He started learning computer programming using a manual and successfully sold the code of a BASIC-based video game called Blastar to PC and Office Technology magazine for $500, which he created, at the tender age of 12.
At 17, Elon Musk chose to move to the United States for finishing his auxiliary tutoring. Rather, Musk left for Canada and got selected at Queen’s University in Ontario at 19 years old. His calling came when he got a grant from the University of Pennsylvania. Then, he moved to the United States and acquired a Bachelor of Science degree in Physics. He proceeded with his training further, acquiring himself a Bachelors of Science qualification from the Wharton School at the University of Pennsylvania.
He started with a PhD programme at Stanford University in 1995 yet dropped out just after 2 days to seek an enterprising vocation. As published in the Hitchhiker’s Guide to the Galaxy by Douglas Adams, Elon Musk accepted that the internet, sustainable power sources, and space travel would be the ones having the greatest effect on the lives of individuals in the future.
As chosen, the three noteworthy subjects of worry for giving his life’s central goal, Elon Musk, alongside his brother Kimbal Musk, began an organization named ‘Zip2’. Elon Musk dropped out of the Applied Physics and Material Science program at Stanford University after two days in the wake of beginning this new pursuit known as Zip2.
Elon Musk story
Elon Musk’s Business Ventures
Elon Musk has evolved different and distinct categories in his comprehensive business field. From automobile miracles to secured money handful-application, from artificial intelligence (AI) research organizations to uplifted propagation throughout the space, Musk has achieved huge feats everywhere with his proficient signature and discretion. Those catalysts of his supremacy are listed below-
Zip2
Zip2 logo
In 1995, Musk with his brother Kimbal Musk began a web programming organization – Zip2, with cash raised from a little gathering of holy messenger investors. The organization created and advertised an Internet city control for the newspaper distributing industry with maps, directions, and yellow pages. Zip2 enabled all real print distributions to offer extra business administrations to their clients.
Musk got contracts with The New York Times and the Chicago Tribune. Musk convinced the governing body to devise plans for a merger with CitySearch. While at Zip2, Musk wanted to move toward becoming CEO but the board members opposed it.
In February 1999, Compaq, a noteworthy web crawler at that point, procured this IT organization – Zip2 for $307 million in cash and $34 million in stock options. The deal made it one of the greatest money acquisitions in those days. Musk got $22 million for his 7% share from the sale.
X.com and PayPal
Logo of x.com and PayPal
In March 1999, Musk established X.com, an online budgetary administration and email payment company with $10 million from the closeout of Zip2. One year later, the organization merged with Confinity, which had a payment service application called PayPal.
After merging, they concentrated on the PayPal administration and were renamed PayPalin 2001. PayPal’s initial development was driven essentially by a viral showcasing effort where new clients were selected when they got cash through the service. Musk was removed in October 2000 from his job as CEO because of conflicts with other organization authorities.
Musk wished to move PayPal’s Unix-based foundation to Microsoft Windows, which was opposed by all. In October 2002, eBay acquired PayPal for $1.5 billion in stock, of which Musk got $165 million. Before its deal, Musk, who was the organization’s biggest investor, claimed 11.7% of PayPal’s shares.
In July 2017, Musk bought the domain X.com back from PayPal for an undisclosed sum, expressing that it has sentimental value to him.
SpaceX
In 2001, Musk considered Mars Oasis, an undertaking to send a small test nursery on Mars, in the hopes of revolutionizing the aerospace industry and making affordable spaceflight a reality. In February 2002, Elon Musk came to Russia to search for three ICBMs (missiles), bringing along Mike Griffin. Griffin had worked for the CIA’s investment arm, In-Q-Tel, just as NASA’s Jet Propulsion Laboratory, and was simply leaving Orbital Sciences, a producer of satellites and rockets.
Kosmotras, a Russian Space Company, offered one rocket for $8 million. But Musk found it excessively costly and refused to purchase it. While on the trip back from Moscow, Musk understood that he could begin an organization that could manufacture the moderate rockets he needed. Musk calculated that the raw materials needed to structure a rocket really were just 3% of the commercial cost of a rocket at the time.
In 2002, Musk ultimately established SpaceX with the long-term objective of making a genuine spacefaring civilization. With US$100 million of his initial fortune, Musk established Space Exploration Technologies or SpaceX, in May 2002. Musk is CEO and boss of innovation official (CTO) of the California-based SpaceX organization.
Logo of SpaceX
SpaceX creates and makes space dispatch vehicles with an emphasis on propelling the condition of rocket innovation. The organization’s initial two dispatch vehicles were the Falcon 1 and Falcon 9 rockets (a gesture to Star Wars Millennium Falcon) and its first shuttle is the Dragon (a gesture to Puff the Magic Dragon).
In seven years, SpaceX planned the group of Falcon dispatch vehicles and the Dragon multipurpose spacecraft. In September 2008, SpaceX’s Falcon 1 rocket turned into the main privately financed fluid-powered vehicle to place a satellite into Earth orbit. On May 25, 2012, the SpaceX Dragon vehicle berthed with the International Space Station (ISS), impacting the world forever as the primary business organization to dispatch and compartment a vehicle to the ISS.
In 2006, SpaceX was granted an agreement from NASA to proceed with the improvement and trial of the SpaceX Falcon 9 dispatch vehicle and Dragon spacecraft so as to ship freight to the International Space Station. It was followed by a $1.6 billion NASA Commercial Resupply Services program contract on December 23, 2008, for 12 flights of its Falcon 9 rocket and Dragon shuttle to the Space Station.
On December 22, 2015, SpaceX effectively handled the principal phase of its Falcon rocket back at the platform. This was the first run in history such an accomplishment had been accomplished by an orbital rocket. It became the first step towards rocket reusability, bringing down the expenses of access to space.
In the entire year of 2017, SpaceX launched its eighteen Falcon 9 flights, successfully, which are more than the previous year’s 8 flights. On February 6, 2018, SpaceX effectively launched the Falcon Heavy, the fourth-highest capacity rocket ever built and the most powerful rocket in activity in 2018. The debut mission carried a Musk’s Tesla Roadster as a dummy payload.
Today, SpaceX is both the biggest private maker of rocket motors on the planet and holder of the record for the most noteworthy push-to-weight proportion for a rocket motor (the Merlin 1D). SpaceX has created in excess of 100 operational Merlin 1D motors. Every Merlin 1D motor can vertically lift the heaviness of 40 normal family vehicles.
Tesla Motors
Logo of Tesla, Inc.
Tesla, Inc. (initially Tesla Motors) was established in July 2003 by Martin Eberhard and Marc Tarpenning. They financed the organization until the Series A funding. The two men were actively involved in the company’s development. In February 2004, Musk joined Tesla’s board of directors as its chairman and led the Series A round of investment.
Musk played a functioning job inside the organization and supervised the Roadster item structure at a definite level, yet was not profoundly engaged with everyday business operations. Following the money-related emergency in 2008 and after a progression of raising clashes in 2007, Eberhard was expelled from the firm. Musk expected initiative of the organization as CEO and item engineer, positions which he holds even today.
In 2008, Tesla Motors initially built an electric sports car, the Tesla Roadster, with sales of 2,500 vehicles to 31 nations. On June 22, 2012, Tesla started the conveyance of its four-door Model S car. On February 9, 2012, it uncovered its third item, the Model X for the SUV/minivan market but Model X dispatch was postponed until September 2015.
Tesla’s income in 2018 was $21.46 billion. In 2013, Tesla’s Model S was the first electric vehicle to get the Car of the Year Award by Motor Trend. Over the most recent four months of 2018, Tesla’s US piece of the overall industry was about 2%. It costs $13.66 to completely charge a Tesla Model X at home.
The general Tesla total assets were evaluated to be $2.2 billion in 2018, dependent on its income and benefits. Nearly 75% of every single electric vehicle sold in the US in 2019’s first quarter were Teslas. Tesla saw an income of $21.461 billion in 2018. The total assets of Elon Musk, Tesla’s CEO, were $18.1 billion as of May 2019.
Tesla recently saw a surge of 4.8% in the share price helping Elon Musk surpass Jeff Bezos to become the richest man in the world.
Neuralink Corporation is another company of which Elon Musk is the co-founder. Founded in July 2016, Neuralink is a neurotechnology company that is engaged in developing implantable brain-machine interfaces (BMIs). Headquartered in Pioneer Building, San Francisco, California, Neuralink shares its office with OpenAI.
In an hour-long interview on Joe Rogan’s podcast, SpaceX and Tesla CEO Elon Musk said that his neuro-tech company Neuralink is going to launch the first product that can make any brain function as a superhuman AI. San Francisco-headquartered Neuralink is developing implantable brain-machine interfaces (BMIs) or Cyborg that could improve memory or allow for more direct interfacing with computing devices.
Neuralink Corporation is an American neurotechnology company founded by Elon Musk in 2016. Elon Musk claims that the moto of Neuralink is a human enhancement and the technology, which will be able to merge the computers with the human brain. Thus, it will obtain a symbiotic relationship between the human brain and Artificial Intelligence.
“ If your biological self-dies, you can upload into a new unit. Literally. It will enable anyone who wants to have superhuman reasoning and intelligence.” – Elon Musk
Developing such implantable brain-computer interfaces(BCIs) or cyborg will be quite a challenge and to be on top of the game, Elon Musk needs to stay ahead of Neuralink’s competitors with a heavy focus on applied engineering. BCIs must incorporate features that are a thousand times better than the existing interfaces with no surgery, no aesthetics, and definitely no drilling holes in the skull.
Elon Musk further points out that there has been a significant advancement in the field stating, “I think Neuralink will have something interesting to announce in a few months that’s at least an order of magnitude better than anything else, probably better than anyone thinks is possible.”
You can see the podcast here:
Elon Musk’s Interview with Joe Rogan
In early 2017, he made a jaw-dropping revelation stating that robots will disrupt our job scenario and that there’s nothing much that can be done and the competition between the countries with the most sophisticated AI will be the reason for World War 3. Probably to him, the merging seems like a better option which might give a human a better chance of surviving. “The merge scenario with AI is the one that seems like probably the best. If you can’t beat it, join it,” Musk said.
OpenAI
OpenAI is an artificial intelligence research laboratory that consists of OpenAI LP, which is a for-profit organization, and OpenAI Inc, its parent company. OpenAI is another Elon Musk-founded company, which he founded in December 2015, along with Sam Altman, Ilya Sutskever, Greg Brockman, Wojciech Zaremba, and John Schulman. OpenAI was founded with an aim of promoting and developing a friendly AI that will benefit humanity as a whole. The collective pledging of $1 billion by Sam Altman, Elon Musk, and others resulted in the birth of the company. It is important to note that Musk has already resigned from the Board of the company in February 2018, but he still remains a donor.
The Boring Company
Logo of The Boring Company
In December 2016, Elon Musk founded the infrastructure and tunnel construction services company, The Boring Company is also known as TBC. Musk has experienced difficulty with Los Angeles traffic and limitations with the current two-dimensional transportation network. This led to the inspiration for the project.
The Boring Company currently has active construction and is planning future projects in the Los Angeles and Baltimore–Washington areas. They have also been selected to build a downtown-to-airport loop by a government program for high-speed transport in Chicago. There have been three boring tunnel projects proposed in the Los Angeles area out of which one test tunnel was completed in November 2018.
Though The Boring Company was initially formed in December 2016 as a subsidiary of SpaceX, it become a separate and fully independent company in 2018. In this, 90% of the equity was owned by Musk and 6% held by SpaceX in return for the use of SpaceX resources during the initial startup of the company. Outside investments during 2019 have changed the equity split.
Twitter
Twitter Logo – A firm owned by Elon Musk
Elon Musk is one of the most famous tweeps who almost keeps his audience hooked with his Twitter profile. Musk has always been an avid Twitter user and was on the brink of becoming a 100% owner of Twitter, the bid for which he placed on April 26, 2022, where he was looking forward to acquiring 100% stakes in Twitter in an all-cash deal worth around $44 billion. However, he finally turned down the deal, citing multiple breaches of the deal.
Musk first expressed his interest in buying the platform in 2017. In the wake of 2022, Musk started materialising this dream of his by buying significant stakes in Twitter first on January 31, 2022, which reached 5% on March 14, 2022. He became the largest stakeholder in Twitter on April 1, 2022, owning over 9% of its stakes. Musk then agreed to a deal on April 4, 2022, which prohibited his possession of more than 14.9% of the shares of his company and would assert his joining the board of directors of Twitter. However, Musk decided to not join the board before April 9, 2022, when the appointment became effective. Elon Musk then placed a bid to buy 100% of Twitter’s shares on April 13th at $54.20 per share. This bid was granted by the Twitter board and would have made Elon Musk the owner of 100% of Twitter’s shares in a deal worth $44 bn if Musk didn’t walk away from the deal. There was also a breakup fee of $1 bn if the deal falls apart. Elon Musk threatened to blow up the deal over the bot issue on June 10, 2022, and ultimately terminated the deal in the first week of July 2022. In reply to this, Twitter sued Musk on July 12, 2022.
In the case filed at the Court of Chancery, Delaware, the acquisition deal was to be forced to go through, as per the decision by Chief Judge McCormick, thereby being ruled against Elon Musk.
Elon Musk – Investments
Elon Musk has 7 investments to date, all of which are personal investments. Here’s a list of the Elon Musk investments:
Elon Musk is recognised for his fight against global warming and Tesla is one of the examples of it. Some of the awards and recognition that he has received are:
For his advocacy, he has received Global Green Award and National Wildlife Federation’s Connie Award.
He has received the Entrepreneur of the award of Inc Magazine and is also known as the Living Legend of Aviation by Kitty Hawk Foundation.
Musk has also been ranked 1 on Forbes’ Billionaires list. Musk is a receiver of the Axel Springer Award.
In 2010, Musk received FAI Gold Space Medal from the Federation Aronautique Internationale.
Elon Musk – Controversies
The richest person on the planet has some fair share of controversies as well. Elon Musk is said to be quite blunt with the tweets that often surround him with controversies. Some of them are:
Right after he was all set for the Twitter acquisition, Musk said that he will buy Coca-Cola and put cocaine back in the beverage.
Musk named the cars from the Model 3 series of Tesla first as Model S, Model E and Model X. However, when Ford allegedly warned Tesla about a lawsuit for using Model E, Tesla changed its name to Model 3, which still made the models together sound like S.3.X
Elon Musk smoked weed on the Joe Rogan podcast and was surrounded by memes and controversies
Musk joked about sending space dragons with lasers to help Ukraine fight the Russians after an article stated that Musk would send flame-throwing electric tanks to Ukraine
During Canada’s trucker protest, Elon Musk compared Hitler with Canadian President Justin Trudeau.
Musk got Sued by Twitter
Elon Musk was legally sued by Twitter for “hypocrisy”, reported The Verge at Delaware’s Court of Chancery on July 12, 2022, after he decided to terminate the Twitter acquisition deal. This opened another chapter of Musk’s life where he will resist his claim in court against the social media giant Twitter.
Elon Musk – Unknown Facts
The richest man is not only unique but interesting as well. Some of the unknown facts about Elon Musk are:
When Musk was 12 years old, he created a video game called Blaster and sold it to a magazine.
Musk named his son Xavier after the character of Professor Xavier from the movie X-Men.
Musk also had a cameo in The Simpsons, along with those in South Park, The Big Bang Theory, Rick and Morty, and more.
Musk’s first venture was Zip2 which was created in 1995.
Musk doesn’t like Facebook and is concerned about its privacy issues.
Elon Musk gets a $1 salary from Tesla.
Musk is called Thrillionaire. It means an entrepreneur who is turning reality into science fiction.
Elon Musk – Quotes
Some of the most popular quotes from Elon Musk are:
When something is important enough, you do it even if the odds are not in your favour.
Some people don’t like change, but you need to embrace change if the alternative is a disaster.
If something’s important enough, you should try. Even if – the probable outcome is a failure.
People work better when they know what the goal is and why. It is important that people look forward to coming to work in the morning and enjoy working.
If you’re trying to create a company, it’s like baking a cake. You have to have all the ingredients in the right proportion.
Elon Musk – Future Plans
Elon Musk has never made his desire to make people “multi-planetary animal types”. Colonizing Mars would be a decent start as per Musk. In September 2017, at the 68th International Astronautical Congress in Adelaide he unveiled his arrangement to send payload delivers there in the following 5 years. By expansion, he trusts that people will settle the planet when 2024.
Elon’s Hyperloop has been contrasted by him with a “cross between a Concorde, a railgun, and an air hockey table”. The plan is to eventually give a method for a movement that should have the option to surpass 1124 km/h and all underground.
At present two courses are being developed – between Los Angeles and San Francisco and between New York and Washington D.C. When complete these excursions should take close to 30 minutes utilizing Hyperloop.
At the point when 12 youngsters and their football (soccer) mentor were caught in an overwhelmed collapse in Thailand, Elon and his group developed an apparently insane thought. The arrangement, clearly, was to construct a tyke-estimated submarine. The sub was structured and worked in record time utilizing extra rocket parts. Regardless of this, the salvage groups esteemed it unrealistic and finished the mission without it. “Pedo fellow” aftermath aside Thai military authorities accept the submarine could have utility in the future.
Elon Musk was born in Pretoria, South Africa, and was raised in Pretoria and the regions nearby the capital of South Africa.
What did Elon Musk study?
Elon Musk has a Bachelor’s degree in both Physics and Economics.
What’s Elon Musk’s IQ?
Elon Musk’s IQ is estimated to be ranging between 150-155.
What is Elon Reeve Musk famous for?
Elon Musk has founded the electronic payment firm PayPal and spacecraft company SpaceX. He is the CEO of the electric-car maker company Tesla. Musk is also the owner of the social media platform Twitter and the world’s richest person, as of April 2022.
Did Elon Musk acquire Twitter?
Elon Musk was about to acquire 100% stakes in Twitter and become the owner of Twitter. He asserted to buy out all of the stocks of Twitter in a deal worth $44 billion on April 26, 2022, but then he refused, leaving the deal pending.
What companies has Elon Musk founded?
Elon Musk founded many companies to date including SpaceX, The Boring Company, X.com, Neuralink, OpenAI, and Zip2.
Did Elon Musk create Paypal?
No, Elon Musk is not the founder of Paypal, nor did he create it. However, Elon Musk indeed found the company known as X.com. This company later merged with Confinity Inc., which was the creator of the product Paypal.
Is Elon Musk an entrepreneur?
Elon Musk is indeed an entrepreneur. The world’s richest person nourished his entrepreneurial dream right after he graduated from college.
What companies has Elon Musk founded?
SpaceX, SolarCity, and Tesla are some of the prominent companies that Elon Musk founded.
Is Elon Musk a real person? What is Elon Musk’s academic background?
Yes, Elon Musk is a real person. Going by the academic background of Elon Musk, the Tesla CEO has a Bachelor’s degree in Physics and Economics from the University of Pennsylvania.
How did Elon Musk start his career?
Elon Musk started his career by dropping out of Stanford University in just 2 days to start his company Zip2.
The evolution of communication is something to ponder, and it is not just about texting or chatting. With the help of smartphones today, we are connected to our near and dear ones around the clock.
Who knew that the messaging app we use today is by an entrepreneur who is worth an inspiration to many of us. We are talking about the co-founder of the world’s most popular messaging application, WhatsApp, Jan Koum.
In this article, discover the success story of Jan Koum. How he started from poverty and the challenges of making a messaging platform for the world that loves it very much.
Jan Koum grew up in Kyiv, Ukraine, in a Jewish family. His father was a construction worker, and his mother used to do household chores. Life was not that easy for him as they used to be surrounded by communists. It was in after the collapse of Eastern Europe, that his family decided to move to America.
At the age of 16, he and his mother went to California in the hopes of starting a new life. With with support of a social program, they managed to get a two-bedroom apartment.
Matters got worse when his father couldn’t join them in America. Soon after, his mother got cancer. To keep up with their survival, they got federal assistance, where Jan Koum worked as a janitor at a grocery store, and his mother as a babysitter. His mother left him in 2000 after having a long battle with cancer.
Jan Koum – Career Growth
He started as a computer engineer at the age of 18. While being a student at the San Jose State University, he was also working at Ernst & Young as a security tester. To gain more exposure, he joined a computer security group called w00w00.
Jan Koum met his fellow business partner Brian Acton at Ernst & Young. They both got along like good friends. After bagging the job at Yahoo, Jan Koum immediately left his school and couldn’t make it to graduation.
Jan and Brian both ended up working nearly a decade at Yahoo. The duo left their jobs and headed to South America. It was during that period when, they both applied for a job at Facebook, but luck had other plans for them.
2009 was the era of new technologies and innovation. This struck Jan Koum’s mind and gave him the idea to create an application. Seeing different apps like Skype, Shazam, and many more, Jan Koum wanted to create a platform that could improve communication among friends and families through phone calls and texting.
Alex Fishman was the person with who Jan Koum shared his idea first. Furthermore, Alex helped his friend by introducing him to a front-end developer who created the app.
Alex Fishman with Brian Acton
It was Jan Koum’s 33rd birthday, 2009, when he incorporated WhatsApp Inc in California. In its initial days, WhatsApp was not used widely as people did not know about its existence.
After a few days, thanks to Apple when it added push notification ability to apps, WhatsApp gained a large fan base and replaced the old SMS style. After gaining favour, Jan Koum pitched in his friend, Brian, who managed to bring $250,000 through seed funding.
When Facebook Acquired WhatsApp
In 2014, things took a turn for Jan Koum when he got an invitation from Facebook CEO, Mark Zuckerberg to have dinner with him and offered a deal to join the Facebook board. Soon afterwards, WhatsApp was sold to Facebook for $19 billion.
After staying for a few years, Jan Koum along with his friend Brian left Facebook due to some disputes. Later on, it was found out that Jan Koum was still an employee of Facebook through a method called ‘rest and vest’, where earned around $450 million.
Jan Koum – Personal Life
In his personal life, Jan Koum is believed to have a difficult childhood. He grew up in a communist regime, where privacy was not an option for him. He has lived through poverty and struggled his way up to becoming the co-founder of WhatsApp.
Jan Koum is also known for his philanthropy work. He has his own Koum Family Foundation, a charity organisation, which has given an amount of $1.15 billion of Facebook stock. He has also donated $1 million to The FreeBSD Foundation, followed by many donations to Jewish and Israeli-related causes.
Jan Koum – Controversies
In 1996, he was accused of physically threatening his ex-girlfriend. Due to this incident, a restraining order was granted against him in the state court of San Jose.
Jan Koum – Awards and Achievements
The following are some of Jan Koum’s achievements:
He was a runner-up at the 8th Annual Crunchies Awards in 2015 in the category Founder of the Year.
He was at no. 62 under the Forbes List of the 400 Richest Americans in 2014.
Jan Koum – Investments
He invested in Noom (a digital healthcare platform) on May 6, 2019. The money raised is valued at $58 million.
Jan Koum – Unknown Facts
Some of the interesting things about Jan Koum are as follows:
His full name is Jan Boris Koum.
He used to collect food stamps as a teenager.
His favourite pastime activity is ultimate Frisbee.
He signed the deal with Facebook in the same building where he used to collect food stamps.
He worked at Yahoo for nine years.
He hates being called an entrepreneur.
He has never spent a penny to advertise WhatsApp.
He is rumoured to be dating the 30-year-old Ukrainian model, Evelina Mambetova.
Jan Koum – Top Quotes
His popular quote is, “I want to do one thing, and do it well.”
FAQs
Why did Jan Koum create WhatsApp?
Jan Koum and Brian Acton created WhatsApp in 2009 because they wanted to create an app that could improve communication among friends and families.
What is the net worth of Jan Koum?
The net worth of Jan Koum is 970 crores USD as of 2022.
Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by Rimuut.
Entrepreneurship, freelancing, and the gig economy has seen a boost in recent years. More and more people are now opting to start their own business or just work as freelancers. However, while starting, many of them face many operational challenges. Challenges like work security, payment, and invoicing are nightmares for freelancers. In fact, creative freelancers can’t even focus on their creativity because of these hassles.
To help all the freelancers, Rimuut provides a platform, which can handle all of these aspects of the business. This ultimately helps to make it easier to operate from anywhere easily. Read about Rimuut’s success story, challenges, and more further in this article.
Rimuut is a fintech company from Estonia that offers a platform for the freelancers, who can, with the Rimuut platform, create virtual companies for invoicing and getting paid. The Rimuut platform is designed to enable the freelancers to send tax-deductible invoices to the clients from across the globe, and collect payments.
Rimuut helps it make easy for freelancers to invoice business clients in almost 150 countries like a company. Besides, the Rimuut platform also helps them get paid in less than 24 hours in any currency. Creating service contracts and other legal documents is also easier now with Rimuut.
Rimuut Website
Product & Services
Right now, Rimuut provides virtual company solution for freelancers. It transforms them into legitimate businesses within seconds by equipping them with commercial and managerial tools to handle billing, settlement, and payment. Rimuut enables freelancers to easily invoice their corporate clients and get the payment. Moreover, it protects their work by contracts without the financial and mental burden of starting and running their own companies.
Rimuut – Starting up
Rimuut’s journey has begun based on the personal experiences of the founders. One of the two founders, Mert, managed outsourced mobile projects abroad and faced constant invoicing and payment issues as he was unincorporated. Being an innate entrepreneur himself, Mert knew that freelancers worldwide are looking for a solution for their financial problems, which causes huge barriers.
By joining forces with Esen, with a finance background, they came up with a unique idea. The idea was to transform freelancers into virtual companies. This would help them function as companies without carrying the burden of actually starting and running a company.
Rimuut – Launch
The primary strategy of Rimuut is putting the needs of freelancers and the businesses hiring freelancers at the core of the service. Due to the user-focused business strategy of Rimuut, the company enables people to empower their businesses. From invoicing to customer support, Rimuut focuses on the excellence of the user journey and experience.
Rimuut – Industry Details
Freelancing is growing globally. Many individuals are leaving their jobs to work on a freelance basis. On the other hand, companies are also taking it sportingly. They are hiring more freelancers rather than hiring full-time employees for short-term work.
When the founders of Rimuut extensively researched the freelance economy, they saw many problems dealing with billing, settlement, and freelancers’ payment procedures, especially when working with local and global businesses. They focused on solving these problems.
Rimuut – Founders and Team
Rimuut has been founded by Esent and Mert Bulut.
Esen and Mert Bulut – Rimuut Founders (R to L)
Esen Bulut
Esen Bulut is the Cofounder at Rimuut. She is an alumnus of Boston College Carroll School of Management. Before founding Rimuut, Esen served as a Partner at Codfabrik. She was earlier in the Marketing department at Esenteks Teskstil, and an Assistant Financial Specialist at Dogus Holding, prior to that.
Mert Bulut
Mert Bulut is another Co-founder at Rimuut. Mert has completed an MS in Computing from Goldmiths, University of London, after finishing BS (Management Engineering) from Istanbul Technical University. Mert was the Founding Partner at Codefabrik after being a Team Member at Etohum.
The team size of Rimuut, as per its Linkedin profile is somewhere between 11-50 employees.
Rimuut – Logo
Rimuut Logo
Rimuut – Growth
Rimuut has seen a good growth since it started back in 2017. The company takes pride in enabling over 4000 employees function remotely and helping them work hybridly with more than 40,000 solo talents, where Rimuut helps them with its wide range of features and facilities including universal invoicing, contracting and payment.
Rimuut – Recognition & Achievements
Rimuut embarked on its journey in January 2017 by admitting to ITU Cekirdek Incubation Center (2nd best in Europe and the 3rd best in the world by the international UBI Global index). Additionally, Rimuut was selected among the top 8 startups at Startup Turkey in the EMEA region.
Rimuut – Marketing
After perfecting their product, they used digital marketing tools to grow their user base. WOMM or the word of mouth marketing got a lot of eyeballs for Rimuut. Happy users brought other users and created a snowball effect. Moreover, they used referral marketing campaigns to kickstart their platform.
Rimuut – Challenges
Rimuut is a disruptive platform. Like every other disruptive business, Rimuut also have experienced problems with the regulations. Excessive and inadequate regulations were the most challenging for the company. However, it learned to adapt and perfect the tools as per the rules to empower the freelancers.
Rimuut – Competitors
Some of the Rimuut competitors are:
Freelancer Stack
Freelance Rate Explorer
YayPay
VersaPay
FAQs
What is Rimuut?
Rimuut is a fintech company that provides effective solutions for the freelancers and other individuals who can, with the help of the Rimuut platform, create virtual companies for invoicing and getting paid.
Who are the founders of Rimuut?
The Rimuut founders are Esen and Mert Bulut.
Where are the headquarters of Rimuut?
The Rimuut headquarters are located in Tallinn, Harjumaa, Estonia.
Indians are leading worldwide roles in some of the world’s largest businesses, from Google’s Sundar Pichai to Microsoft’s Satya Nadella, Adobe’s Shantanu Narayen to IBM’s Arvind Krishna. India boasts the world’s biggest expatriate and a massive source of IT expertise that serves some of the world’s most prestigious corporations.
People over social media went gaga on 29th November 2021, as one more hero joined this list. When former Twitter CEO Jack Dorsey abruptly stepped down on Monday, he handed the reins to Parag Agrawal, a software engineer who has worked closely with Dorsey in establishing the company’s future.
Dorsey’s faith in Agrawal as CEO is “bone-deep,” the departing CEO said in an email to staff on Monday. “Given how completely he understands the firm and its requirements, he’s been my choice for some time,” Dorsey stated. Know more about this gentleman, in this article.
Parag Agrawal – Biography
Name
Parag Agrawal
Year of Birth
1981
Age
37 Year Old
Nationality
Indian, American
Education
B.Tech. degree in Computer Science and Engineering from IIT Bombay
Parag Agarwal was born in India in the year 1976. He graduated with honours from the Atomic Energy Central School (AECS). He then subsequently travelled to Mumbai to pursue his bachelor’s degree in engineering at the India Institute of Technology (IIT).
Recently IIT Bombay also recognized and valued its alumni for their contributions to the world of technology. He moved on to Stanford University to earn his Ph.D. degree after graduating from college. While at Stanford, Parag Agarwal interned at various technology giants like Microsoft, Yahoo, and AT&T Labs and gained good hands-on industry experience.
Parag Agrawal’s Family
Vinita Agrawal is Parag Agrawal’s wife. They have a daughter named Anamika Agrawal.
Parag Agrawal – Career
Parag Agrawal began working at Twitter in 2011 after working as a student for firms such as Microsoft, AT&T, and Yahoo. Initially, Parag Agarwal focused on advertising-related goods. He afterwards moved on to Artificial Intelligence. On March 8th, 2018, Parag Agarwal was named as Chief Technology Officer (CTO) of Twitter.
His early work as CTO focused on using artificial intelligence to improve the relevancy of tweets in the Twitter timeline. Parag Agarwal has been named the next CEO of Twitter, just ten years after joining the company.
Parag Agrawal – Salary and Net Worth
Parag’s net worth is estimated to be $3 million. He will be worth millions of dollars in no time thanks to the significant rise in his basic income and bonuses. Parag will get $1 million yearly remunerations and $12.5 million in stock compensation as CEO of Twitter, according to the company.
Parag Agrawal – Journey with Twitter
In an email to Twitter employees, Agrawal stated that the firm had less than 1,000 employees when he started. He wrote, “I’ve walked in your shoes, I’ve seen the ups and downs, difficulties and barriers, successes and blunders.”
As Twitter tries to shake off a reputation for being sluggish to develop, he’s focused on machine learning and other technological breakthroughs that have allowed it to bring out new features and products more swiftly.
The board of Twitter, according to sources, had been seeking a full-time CEO for the social media business for the past year. Jack Dorsey co-founded Twitter in 2006 and served as its CEO until 2008 when he was fired. After former CEO Dick Costolo left in 2015, he returned to the firm as an executive.
Parag published a statement expressing his thanks.
“Thank you very much, Jack. I’m both honoured and humbled by this. And I appreciate your continuous mentoring and friendship ” – Parag Agrawal
Agrawal reflected on his experience at the firm, saying:
“Right now, the world is watching us much more than before. Let’s demonstrate Twitter’s full potential to the rest of the world “.
Parag Agrawal – The CEO of Twitter
At a time when Twitter is actively seeking new ways to expand its user base, Agarwal’s appointment comes at a fortunate moment for him. By the end of 2023, the company expects to have 315 million DAUs (Daily Active Users) and expect to have more than doubled its annual revenue. He takes over as CEO at a time when the corporation has been criticized by investors for failing to create a new monetisable product in years, prompting the announcement of the 2023 plan.
Parag Agrawal – Unknown Facts
Here are some amazing facts about Parag Agrawal:
He is a machine learning expert who has played a key role in Twitter’s adoption of the technology.
According to his thesis adviser, Parag was born in Mumbai and has a strong knowledge of mathematics as well as experience working with massive datasets.
According to a New York Times story citing Silicon Valley insiders, Parag is “quiet, courteous, profoundly technical, and passionate about an internet where power and control are given back to people,” exactly like Jack Dorsey.
At the 2001 International Physics Olympiad in Turkey, Agrawal received a gold medal.
Parag is an adventurer who loves to do skiing and hiking. Along with that, he is fond of trying new dishes and eating a variety of food.
Even though Parag lives in the US, he celebrates all the major Indian festivals like Holi and Diwali.
Bollywood’s famous singer Shreya Ghoshal is reportedly known to be Parag’s classmate.
Parag is an avid cricket lover and loves to watch cricket matches in the stadium.
As per unknown sources, Parag secured a 77thrank in his IIT JEE exams.
The promotion of Parag Agrawal, Twitter’s former Chief Technological Officer, underscores the importance of immigrants in the world’s leading technology organisations. He joins Microsoft’s Satya Nadella, Adobe Inc.’s Shantanu Narayen, International Business Machines Corp.’s Arvind Krishna, and Alphabet Inc.’s Sundar Pichai as the highest-profile executives of Indian-origin in the United States.
Agrawal has kept a quiet profile thus far, concentrating his knowledge in product development and market research. Before becoming CTO, he was recognised as Twitter’s first notable engineer for his contributions to audience growth and revenue. Now that he’s the CEO, he’ll have to navigate a friendlier path with India if he wants to achieve his ambitions of growing Twitter’s reach.
FAQs
Who is the wife of Parag Agrawal?
Parag is married to Vineeta Agrawal.
What is the age of Parag Agrawal?
Parag Agrawal was born on 21 May 1984. He is 38 years old.
What is the net worth of Parag Agrawal?
The net worth of Parag Agrawal is $3 million.
When was Parag Agrawal appointed as the CEO of Twitter?
Parag Agrawal was appointed as the CEO of Twitter in November 2021.
Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by Cisco.
Cisco is a networking equipment corporation, that designs, manufactures, and sells its products. Cisco might not be the only corporation that has developed network nodes. So, what accounts for its victory?
The name “Cisco” is an acronym for San Francisco, where the company was founded in 1984 by Stanford computer scientists Sandy Lerner and Leonard Bosack. Cisco Systems Inc. is a networking multinational corporation based in the United States.
Cisco was the very first company to provide routers that could handle several internet protocols. Their early devices were also distinguished by their traditional CPU architecture. Their technology was cutting-edge, and hardware was rarely an issue.
Cisco isn’t a household brand, but it is well-known. They are one of the world’s largest networking firms, with a market capitalization of over $200B, ranking them at number 64 on the Fortune 500 list.
Here’s learning all about Cisco, its Founders and Team, Funding and Investors, Business and Revenue Model, Growth, Challenges Faces, Name, Tagline, Logo and more.
As of January 26th, 2022, Cisco released its Data Privacy Benchmark Study for 2022, a yearly worldwide examination of security business practices that emphasizes the influence of privacy on enterprises and their perspectives on data protection.
Privacy is mission-critical, according to the 2022 research, with 90 per cent of respondents considering it a business requirement. According to the poll, privacy expenditure continues to climb, and businesses see a strong return on investment from privacy spending.
As of January 20th, 2022, Cisco has announced an extension of the Cisco Catalyst 9000 range, which is built on the powerful Unified Access Data Plane (UADP) ASIC silicon, to provide additional enterprise-grade switching capabilities to the industrial edge for industries like utilities, oil and gas, highways, and rail.
As companies strive to increase economies, employee safety, and business agility and promote hybrid work, functional connectivity in industrial areas is rising at an exponential rate. As operational technology (OT) devices are integrated onto corporate networks, IT knowledge is necessary to expand and protect the network as the operational world advances.
About Cisco
Cisco Systems is a multinational technology corporation headquartered in the United States that specialises in computer networking.
Cisco networking services link computing devices, and communication networks with people, enabling individuals to access and transmit data regardless of computer system type, location, or time.
As a company that sold its products mostly to other businesses, Cisco did not become a household name, but in the second decade of the 21st century, it was one of the largest corporations in the United States. Cisco was founded in 1984 and has its headquarters in San Jose, California.
Cisco is the only company that can assert a ‘legacy’ in a market as youthful as networking systems. Cisco’s networks not only carry 85% of all Online traffic; the corporation actively utilizes the Internet to operate its businesses, from purchases made online and stock management to employee evaluations and travelling expenditures.
Cisco – Logo and Meaning
The two towers of the Golden Gate Bridge in San Francisco, California, are shown in Cisco’s company logo.
Cisco Logo
The company’s engineers were insistent upon using lower case “cisco” in its early years since the term “Cisco” was taken from the city name San Francisco.
Cisco – About Founders and Team
Cisco was founded by Sandra Lerner and Leonard Bosack.
Sandra Lerner and Leonard Bosack, founders of cisco
Cisco was created by Sandra Lerner and Leonard Bosack, (then) a married couple who met as students at Stanford University. They continued working at the institution after graduating in 1981, supervising the computer facilities of two distinct departments.
They were strongly influenced by Standford’s technology from the early 1980s. Bosack used technologies developed by other Stanford employees in the 1970s to connect their individual computer networks.
He and Lerner realised that router technology, as it was known at the time, could be extremely inexpensively adapted for large-scale usage outside of the institution. Cisco (originally called “Cisco Systems”) was created in December 1984 by the two, who named the business after the city of San Francisco. Cisco eventually bought Stanford’s proprietary technology.
Cisco’s initial product, a network interface card for Digital Equipment Corporation computers, was introduced in 1985. The next year, it had its first major success with a router that supported numerous network protocols. Lerner was fired from Cisco in 1990, shortly after the firm sold its first stock to the public, and Bosack also quit.
Chuck Robbins became the CEO of Cisco replacing John Chambers.
Chuck Robbins, CEO of cisco with John Chambers, ex-CEO of cisco
This revitalized the company. Chuck Robbins brought an outside perspective as he had been at that company for the past 17 years and this did help the company as they shifted their focus to cloud-based networking and this picked up the company from the fall.
They sold to consumer companies like Technicolor for 600 million dollars and invested in newer startups like Velocloud. And in February of 2017, they launched their cloud-based secured internet gateway called Cisco Umbrella. And just 2 years ago, they bought an AI-driven business intelligent company called accompany for 270 million dollars and today they are doing better than ever before.
Cisco was off to a pretty rough start due to inner conflicts among members, but their small team made things happen.
In 1985 they sold their very first product which is a network interface card which they sold to Digital Equipment Corporation. But the following year was the one when they came out with their first blade successful product. This was simply a router. What made it special was that it served multiple network protocols. This router was so successful that it required more cash to expand and as the result, it turned to investment.
In late 1987, the venture capitalist from Sequoia Capital took control of the company. This might have appeared to them as the right thing to do, but it later came back to bite them. Just a couple of months after they came, they changed to the president and CEO of Cisco. The new CEO didn’t get along well with the founders of the company.
Despite this, the company continued to grow and on February 16, 1990, the company went public on NASDAQ with a market cap of 224 million dollars. But unfortunately soon after, in August 1990, Sandy Lerner and Bosack both left the company. They walked away with 170 million dollars. As for Cisco systems, they were still doing good, but they completely transitioned from a family-owned business to a very corporate business.
In the early 1990s, they used their savings and put it towards a few part companies like grand junction and similar other companies that formed the capital business unit.
Cisco – Employees
Chuck Robbins – Chairman & CEO
Eric Wenger – Senior Director, Technology Policy, Global Government Affairs
Matt Swartz – Principal Engineer
Bill Gerhardt – Managing Director – Strategy and Business Development
Tal Schierau – Sr. Director, Customer Experience
Caroline Baker – Executive Producer, Unhackable with Mike Storm, a Security Podcast Series
Jon Koplin – Managing Director EMEAR, Cisco Investments and Corporate Development
Kelly Crothers – Director of Employee Experience
Cisco – Business Model
Cisco earns money through selling networking and communications hardware and software, which represents the Internet’s backbone.
Applications: The selling of software-oriented services that sit on top of Infrastructure Platforms, such as collaboration (Cisco TelePresence, for example), analytics software, and, the internet of things (IoT) generates revenue.
Infrastructure Platforms: The selling of fundamental networking technologies such as routing, switching, data centre devices, and wireless yields revenue.
Services: The provision of support services and technical consulting generates revenue.
Security and Other products: Revenues are derived from the sale of threat detection, management and security products and cloud and system management tools. This segment also used to house the company’s Service Provider Video Software and Solutions business, which was hived off in 2018.
“The networks that we build we’re going to have to think about fundamentally differently, there is no room for technology religion,” Mr. Robbins said.
Over more than three decades, Cisco Systems became a Silicon Valley giant partly because of one facet of its business: technological complexity.
Managing Cisco’s many varieties of networking equipment, which help computers exchange data, became such a convoluted process over time that customers who learned to do so became loath to try competing products. But that pattern can’t go on, according to Chuck Robbins, Cisco’s chief executive, who took over the company in 2015. At Cisco’s annual technology conference, he declared that technical shifts were affecting how all companies used the internet, forcing Cisco to rewrite its product playbook.
Cisco has raised a total of $2.5M in funding over 1 round. This was a Series A round raised on Jan 1, 1987.
Date
Stage
Amount
Investor
Jan 1, 1987
Series A
$2.5M
Sequoia Capital
Cisco – Investments
Cisco has made 210 investments. Their most recent investment was on Oct 7, 2020, when Illusive Networks raised $24M.
Date
Stage
Amount
Organization Name
Oct 7, 2020
Series B
$24M
Illusive Networks
Aug 5, 2020
Grant
$25k
Respira Labs
Apr 2, 2020
Series C
$230M
Illusive Networks
Jan 29, 2020
Venture Round
$8.6M
Illusive Networks
Oct 30, 2019
Venture Round
$7.6M
Illusive Networks
Mar 20, 2019
Series C
$27M
Illusive Networks
Mar 12, 2019
Venture Round
$50M
Illusive Networks
Jan 2, 2019
Series G
$10M
Illusive Networks
Dec 1, 2018
Grant
$300k
Illusive Networks
Oct 3, 2018
Series D
$30M
Illusive Networks
Cisco – Acquisitions
A total of 237 businesses have been acquired by Cisco. A few of them are as follows:
Acquiree Name
About Acquiree
Date
Amount
Replex
Replex provides software solutions.
Oct 25, 2021
–
Epsagon
Epsagon is a privately held, modern observability company with offices in New York and Tel Aviv.
Aug 13, 2021
$500M
Kenna Security
Kenna is a SaaS risk and vulnerability intelligence platform that accurately measures risk and prioritizes remediation efforts.
May 14, 2021
–
Socio
Powering in-person, virtual, and hybrid event success.
May 12, 2021
–
Sedona Systems
Sedona Systems is a creator of an IP/optical converged control platform
May 11, 2021
$100M
Dashbase
Dashbase empowers you to deliver high quality VoIP services.
Dec 22, 2020
–
Slido
Slido is an audience interaction platform for meetings and events.
Dec 7, 2020
–
IMImobile
IMImobile is a cloud communication software that helps users manage customer interactions at scale.
Dec 7, 2020
£543M
Banzai Cloud
Bringing Cloud Native to the Enterprise
Nov 16, 2020
–
Portshift
Kubernetes-native security solution, single pane of glass for containers and Kubernetes security.
Oct 1, 2020
–
Cisco – Growth
Cisco Systems Inc. has been on a goal for the past few years: to conquer the data networking business, just like IBM did with mainframe computers and Microsoft and Intel did with pcs.
Cisco, situated in San Jose, Calif., has gone on a significant acquisition binge to achieve this lofty aim, purchasing 14 firms since late 1993. Cisco evolved and adapted to its ever-changing surroundings. During the mid to late 1990s, Cisco adapted to the internet protocol as the internet age progressed.
They introduced devices such as the ASA 5200 and GSR (Gigabit Switch Router) routers, but the dot-com bubble, like that of any other technological business at the time, had a significant impact on their growth. But, more than any other technological business, Cisco was able to reap the rewards of the dot-com bubble.
Cisco had become the most valuable firm in the world by late March 2000, after surpassing Apple in the game. When the dot-com market collapsed, Cisco Systems, like Oracle and Dell, suffered a huge drop. However, because none of the firms had achieved the same heights as Cisco Systems, they were not as badly affected.
Cisco Systems intends to dominate its industry and has already made 237 acquisitions since its inception. While many acquisitions are stressful, Cisco’s revenues and net profits have more than quadrupled since 1996. The key is to look for organisational synergies before making a purchase.
The circumstances in the early 2000s provided an ideal opportunity for Cisco’s competitors to enter the market. Juniper Networks, the largest rival, was adamant about passing the IP and MPL package. They published their first part a few years before in 1999, but this is when they started to take off.
Cisco’s market share was eroding, and they now own 30% of the market. Cisco swiftly countered by introducing more powerful processing cards and GSR routers. A6 are application-specific integrated circuits, which they created as well.
They were particularly popular with Bitcoin and theory mining, and in 2004, they began migrating to CSR-1, a new high-level platform. They also received IOS-XR, a new software architecture. Cisco was able to recover from the dot-com bubble thanks to these reforms, and it began to thrive again.
Cisco – Mistakes and Downfall
Cisco made the mistake of attempting to become a household name in 2006. They began by renaming themselves Cisco rather than Cisco Systems. They’ve also spent a lot of time and money advertising links to these items, as well as their prospective consumer costs.
They were also attempting to focus on their conventional business at the same time. They were also seeking to expand globally and enter new markets while all of this was going on. For example, they attempted to develop a foothold in India by investing $1 billion in a global centre of ease in Bangalore.
They were also attempting to acquire their way into new markets on top of all of this. But here’s the thing: one person can only do so many things at once and be effective at all of them. And Cisco’s attempt to achieve all of these things at the same time was doomed to fail. Despite their efforts, their opponents were rapidly gaining momentum.
They faced domestic rivalry from Juniper Networks, as well as international competition from Huawei, which has recently gained a lot of attention. Cisco’s revenues were so low as a result of all of this that they chose to slash their spending by $1 billion each year in 2011. What precisely did they do to achieve this?
Mostly by laying off workers. They fired 3000 people right away, and hundreds more were granted early retirement packages and other benefits. After everything was said and done, 10,000 jobs were lost, accounting for 14% of their workforce. Cisco was clearly in a poor situation.
Cisco sold eastbound lines to Belkin International in 2013, and this interchanged from the consumer to the network side. Years of mistakes, however, continued to have disastrous repercussions. They had to reduce 4000 and 6000 positions in 2013 and 2014, respectively.
Cisco – Future Plans
Over the previous two decades, Cisco has reaped the benefits of the internet’s growth and increased traffic. Cisco predicts that worldwide network traffic would expand by 26% annually until 2022, thanks to the expansion of online services such as video streaming and gaming.
“Innovation requires focused investment, the right team and a culture that values imagination,” said Chuck Robbins, chairman and CEO of Cisco. “We are dedicated to transforming the industry to build a new internet for the 5G era. Our latest solutions in silicon, optics and software represent the continued innovation we’re driving that helps our customers stay ahead of the curve and create new, ground-breaking experiences for their customers and end users for decades to come.”
Cisco intends to bring its 75,000 employees back into the office once the epidemic has passed, while still allowing for remote work. After converting its entire worldwide staff to remote work, the IT giant is taking efforts to ensure that employees can continue to work from home, such as strengthening networks to allow for more remote access to corporate databases.
“How can we improve the robustness and resilience of our networks and connectivity?” “How do we scale up much more effectively,” Cisco’s chief operating officer, Irving Tan, explained. “There’s a lot to learn, and it’s still early in the game.” By equipping individuals and businesses with problem-solving skills and revolutionary technology through Cisco Networking Academy, they want to offer the advantages of digitalization to one billion people by 2025.
Cisco – FAQs
What does Cisco do?
Cisco Systems is a multinational technology corporation based in the United States that specialises in communication networks.
When was Cisco founded?
Leonard Bosack and Sandy Lerner founded cisco on December 10, 1984.
How does cisco make money?
Cisco earns money through selling networks and telecommunications software and hardware, which represents the Internet’s backbone.
Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved byLinkedIn.
On the internet, there are thousands of professional networking websites. Many of us are undoubtedly familiar with a few of the leading professional networks. However, the best professional networks are those that are simple to use, including all the necessary functions and functionalities.
LinkedIn is a professional-oriented social networking site. You may use it to network and create your professional profile, but then you can also use it to explore new job opportunities. LinkedIn is used by both established business executives and recent college graduates. Recruiters and employers who are seeking applicants also utilise LinkedIn.
LinkedIn – Company Highlights
Startup Name
LinkedIn
Parent Company
Microsoft
Industry
Social media
Headquarter
Sunnyvale, California, U.S
Founders
Allen Blue, Reid Hoffman, Konstantin Guericke, Jean-Luc Vaillant, and Eric Ly
LinkedIn is a professional and employment-oriented internet service based in the United States that operates through a website and mobile application. It was launched on May 5, 2003, and is principally used for networking opportunities and career-related advancement opportunities. LinkedIn enables job applicants to publish resumes and cover letters and recruiters to offer positions.
Since 2015, the majority of the company’s revenue has come from providing recruiters and marketing experts with the availability of information about its users. It has been completely owned by Microsoft, since December 2016. LinkedIn has more than 774 million registered users including over 200 countries around the world.
LinkedIn, like any other social networking site, has an algorithm that is constantly modified to offer users the best possible experience. As a member, you’ll notice that your “feed” – which works similarly to Facebook’s feed – keeps you updated with new stuff regularly. However, before this feed reaches your profile, it passes via LinkedIn’s filtration.
Some of these rating filters are set up to check for spammers or low-quality content, or to provide permission for the information to be displayed. What you’ll be viewing has most possibly been approved by a computer bot.
You may interact with the posts in your newsfeed by leaving a like, comment, or by sharing them. You may also mark the material as spam or hide it from view to prevent others from viewing it. What you view in the future is influenced by your actions. People’s reactions to the stuff may be influenced by your behaviour.
If you give negative comments on a piece of material, LinkedIn will compare your activities to that of others to assess whether or not the piece should be in anyone else’s feed. LinkedIn is useful for both socializing and advertising.
You can market on LinkedIn just like you can on Instagram and Facebook. You can run InMail campaigns and place ads using the Campaign Manager. It’s a pay-per-click model, meaning you only pay whenever anyone clicks on the advertisement. But that’s also why you would want to target properly, so think about your abilities and who would be interested in those. The best outcomes may come from a restricted approach.
LinkedIn – Industry
The worldwide social networking platforms market was estimated at $192.950 billion in 2019, with a rate of 25.38 per cent expected to reach $939.679 billion by 2026.
A professional network platform is a sort of social communication network that focuses only on professional interactions and connections rather than private, non-business connections.
Business people utilise a professional network platform to build and retain working relationships, as well as to obtain employment or advance in their careers and to receive information and networking events.
According to LinkedIn managing director Clifford Rosenberg, “This is really a call to action for professionals to re-address their use of social networks and begin to reap as many rewards from networking professionally as they do personally.”
Businesses rely heavily upon outside information and resources, and to acquire what they require, they must go out there and establish working relationships with others, such as employees or customers, as well as possible prospects.
Companies can maintain all of their networks updated, and organised, and help find out the most efficient method to communicate with every one of them by employing a professional network solution. A business that can handle everything reduces most of the stress associated with getting things done.
Businesses can maintain all of their connections updated, organised, and find out the most effective method to communicate with each one of them by employing a professional network solution. When attempting to get things done, a service that can handle everything might help ease some burdens.
LinkedIn’s logo has been altered twice during the decades of its establishment, although only minimally, staying the same as it was at its commencement. It consists of the preposition “In” and the word “Linked.” There is a little gap between them that makes the parts appear to be merged.
LinkedIn’s principle is connecting, but here with your professional contacts, the name is as obvious. Joining allows you to get linked (or connected), in(to) your network of connections, which should provide you with greater opportunities as a result of your contacts.
The tagline of LinkedIn says, “Connect to Opportunity.”
LinkedIn – Founders
Allen Blue, Reid Hoffman, Konstantin Guericke, Jean-Luc Vaillant, and Eric Ly developed LinkedIn on May 5, 2003.
Allen Blue
Allen was previously the Director of Product Design at SocialNet.com, a social networking site that covers recreational, dating, and professional activities, where he was in charge of product design and the execution of SocialNet’s member-data-driven business model. Allen formerly worked as a freelance web designer and developer for companies such as Stanford University, PayPal, and Microsoft’s Virtual World project.
Reid Hoffman
Reid, an entrepreneur and executive, was integral to the development of several of today’s biggest consumer technology companies, including PayPal and LinkedIn. He has a distinct grasp of customer psychology and the characteristics of viral firms, as well as extensive experience leading organisations from their inception through periods of rapid, “blitz scale” expansion.
Reid invests in firms with network effects and participates in creating their product ecosystems, ranging from Airbnb to Convoy, LinkedIn to PayPal, and Facebook.
Konstantin Guericke
Konstantin Guericke is an Earlybird Partner. He works out of Silicon Valley. As Vice President of Marketing at LinkedIn, Konstantin supervised marketing operations from launch through the first six million members and sustainability.
He was formerly the CEO of Jaxtr Konstantin and has extensive entrepreneurial expertise as the creator of successful startups and as a growth advisor to established businesses. He is currently a board member of multiple firms and a Stanford University student entrepreneur mentor. Konstantin graduated from Stanford University with a B.S. and M.S. in Engineering.
Jean-Luc Vaillant
Jean-Luc is responsible for LinkedIn’s technological infrastructure as Chief Technology Officer. Jean-Luc has been one of LinkedIn’s co-founders. Before starting LinkedIn, Jean-Luc worked for Logitech as a Director of Engineering, overseeing the incorporation of video into MSN 6. Jean-Luc, also worked at Spotlife as Director of Software Development until the firm was purchased by Logitech.
Jean-Luc was previously the Vice President of Development at MatchNet, which bought SocialNet in May 2001. Jean-Luc has also worked for Fujitsu Software Corporation and France Telecom’s research laboratories in engineering management positions. Jean-Luc has an M.S. in Computer Science and a post-graduate degree in Network Engineering from the University of Marseille.
Eric Ly
Presdo, an online application that helps individuals determine the optimal time to get together was founded and run by Eric Ly. Eric. He was formerly a co-founder of LinkedIn, where he served as the original CTO and VP. Eric worked on several of LinkedIn’s fundamental product features, which helped the firm achieve profitability and a rapidly increasing number of users.
LinkedIn – Startup Story
Although LinkedIn was formed in 2002, the website did not go live until 2003. Reid Hoffman collaborated on the website with a group of employees from two of his previous businesses, Socialnet.com and PayPal. Growth was sluggish and restricted at first, but as the site’s functions expanded, it became exponential.
LinkedIn was founded in May of 2003, but it was not an instant success. LinkedIn had just 245 members towards the end of 2003, most of whom were professional links of the founding team. LinkedIn’s growth surged in its second year, thanks to new services aimed at small company owners, such as contact book uploads, Groups, and a collaboration with American Express.
Through 2004, membership grew from the hundreds to the thousands and thousands. By 2005, the site’s membership had surpassed 1 million, and it had developed two revenue-generating lines of business: Jobs and Subscriptions. The firm expanded as well, creating a fourth location.
LinkedIn transformed in 2012, focusing on 3 concepts: simplicity, expansion, and every day. Influencers were introduced, as well as platforms in eight new languages and an iOS app.
LinkedIn continues to improve and offer a more seamless user experience over the following several years, allowing users to make meaningful professional connections. LinkedIn Learning, which provides courses in several topic areas for individuals seeking continuous education possibilities, was founded after it acquired Lynda.com. LinkedIn has more than 500 million members worldwide as of April 2017.
LinkedIn – Vision, and Mission
LinkedIn’s mission is straightforward: “to connect the world’s professionals to make them more successful and productive.”
LinkedIn’s vision statement says, “transform the way the world looks for work, develop, and market professional skills.”
LinkedIn – Services
Everyone can use LinkedIn for free. However, the firm offers and delivers various premium services to its customer base. Among the most important services are:
Marketing Solutions
LinkedIn also offers marketing services in addition to recruiting solutions. LinkedIn, besides being a professional network, also allows businesses to create and execute their ideal marketing tactics in their campaigns. The firm can have a LinkedIn page.
Furthermore, the organisation can strengthen its marketing efforts by utilising technologies for the construction of text ads, sponsored email, and sponsored content. Both of these LinkedIn offerings add to the company’s income creation techniques.
Talent Solutions
All services provided to businesses, including recruiters and job seekers, are referred to as talent solutions. This is a premium tool that assists them in hiring the best qualified and relevant individual that meets all of their criteria. Apart from that, it provides entrepreneurs with the ideal partner for building their firm.
LinkedIn Recruiter, Work With Us Ads, Recruitment Media, Job Slots, and Career Pages are some of the primary services given by LinkedIn under Talent Solutions. Apart from the benefits, LinkedIn offers to recruiters, it is also beneficial to workers.
With millions of courses accessible in premium editions, it helps students improve and perfect their talents. Users of other employment platforms must search for jobs independently. Users must, however, demonstrate their abilities and qualities on LinkedIn in order to establish their brand and attract recruiters. This is, after all, one of LinkedIn’s main offerings.
LinkedIn – Business Model, and Revenue Model
The LinkedIn business model is a multifaceted system that links corporate users with employers and advertisers that want to build their own network of contacts. LinkedIn is recognised as “the professional network” because of its vast community of professionals from every industry and from all over the world. LinkedIn now has over 660 million users from over 200 countries.
According to LinkedIn’s User Agreement, its “services are designed to promote economic opportunity for our members by enabling you and millions of other professionals to meet, exchange ideas, learn, and find opportunities or employees, work, and make decisions in a network of trusted relationships”.
LinkedIn’s revenue streams are:
Marketing solutions
Talent solutions
Premium subscriptions
Pay-per-click job posting
LinkedIn’s whole business strategy is based on job searches, network interactions, and connections. They also have a huge market share compared to their competitors.
With a few tweaks, LinkedIn can maintain its market dominance while simultaneously making a more significant contribution to society, such as increasing its techniques for assisting users who cannot afford a membership to locate and acquire jobs.
LinkedIn – Funding, and Investors
Date
Round
Amount
Lead Investors
Feb 15, 2016
Post-IPO-Equity
–
–
Dec 1, 2009
Secondary Market
$51.6M
–
Oct 22, 2008
Series D
$22.7M
–
Jun 17, 2008
Series D
$53M
Bain Capital Ventures
Jan 29, 2007
Series C
$12.8M
Bessemer Venture Partners, Global Founders Capital
Oct 1, 2004
Series B
$10M
Greylock
Nov 1, 2003
Series A
$4.7M
Sequoia Capital
LinkedIn – Investments
Date
Organization Name
Round
Amount
Apr 20, 2022
Oyster
Series C
$150M
Dec 6, 2021
Trala
Venture Round
$6.9M
Jun 23, 2021
Acryl Data
Seed Round
$9M
Jun 22, 2021
G2
Series D
$157M
Jun 10, 2021
Hopin
Series C
–
May 18, 2021
Piano
Series C
$20M
Mar 24, 2021
Bevy
Series C
$40M
Nov 1, 2019
StarTree
Seed Round
$4M
Apr 25, 2019
Salesloft
Series D
$70M
Apr 3, 2018
Salesloft
Series C
$50M
LinkedIn – Acquisitions
Acquiree Name
About Acquiree
Date
Amount
Paddle HR
Paddle HR helps large enterprises match current employees with new jobs within the company, saving them millions in recruiting costs.
Mar 29, 2022
–
Oribi
Oribi Analytics gives you the actionable insights you need to make solid, data-driven marketing decisions—no coding required.
Feb 28, 2022
–
Jumprope
Jumprope is a platform where users can create, discover, and share how-to videos and tutorials.
Aug 2, 2021
–
UpCounsel
UpCounsel operates an online marketplace for businesses to find and hire legal help based on their preferences in the United States.
Apr 23, 2020
–
Drawbridge
Drawbridge uses large-scale AI and machine learning technology to build Identity solutions that connect, unify, & enhance customer data.
May 28, 2019
–
Sendbloom
Tailored outbound messaging for sales
Dec 1, 2018
–
Glint
Glint offers an employee engagement platform.
Oct 8, 2018
–
Heighten
Heighten is a software as a service company that provides a platform for salespersons to operate faster.
Jun 2, 2017
–
PointDrive
PointDrive is a sales-oriented application that improves the way you share content with customers.
Jul 26, 2016
–
Run Hop
Run Hop specializes in online content distribution to accelerate its efforts to make users’ feeds more engaging.
May 5, 2016
–
LinkedIn – Competitors
Top competitors of LinkedIn are :
AngelList
Meetup
Data Connect
Sumry
The Go To Market Company
Jobcase
Bark
Doostang
Let’s Lunch
LinkedIn – Strengths
Customer Service – Customers are really pleased with the customer service department.
Automation – Automation helped the organisation to grow continuously in response to market needs
Dealers – In addition to advertising the items, its dealers spend on sales training to demonstrate the products’ benefits to customers.
Innovative – LinkedIn has a history of developing innovative products that have been successful.
Integrated – LinkedIn has integrated and acquired a large number of complementary enterprises over the years to expand its supply chain and distribution network.
Workforce – LinkedIn spends heavily on the training and development of its workers, resulting in a highly trained and engaged workforce.
New sectors – LinkedIn is a master at breaking into new sectors, and its development continues to open up new income streams in a variety of industries.
“LinkedIn is attempting to establish itself as a hub for B2B sales and hire. Continue to do what you’re doing since LinkedIn’s value as a sales channel will only grow over time. Although the methods and platform may evolve, using it as a sales tool will only improve over time,” LinkedIn’s Customer Advisory Board member said.
What happens if LinkedIn restricts organic outreach? Simply said, they will begin to commercialize and demand fees for outbound LinkedIn prospecting. They currently have InMail, but everyone who has used the software knows it isn’t that efficient.
LinkedIn puts a lot of work into these InMail elements, such as accessible and trackable buttons and links, but the InMail messages don’t seem natural as a consequence. They resemble some spammy, blasted message with a huge “Buy now” button on it.
Adding the fact that the cost of InMail is significantly greater than the cost of organic outreach, it’s easy to understand why they haven’t gained much momentum on the platform thus far. This is something expected to change. As LinkedIn’s organic outreach is curtailed, it is expected that its paid messaging solutions to develop and grow.
This is something that is likely to change. As LinkedIn’s organic outreach is constrained, sponsored messaging solutions are projected to develop and proliferate.
LinkedIn – FAQs
What does LinkedIn do?
LinkedIn is a professional and employment-oriented internet service that operates through websites and mobile applications
Who founded LinkedIn?
Allen Blue, Reid Hoffman, Konstantin Guericke, Jean-Luc Vaillant, and Eric Ly developed LinkedIn on May 5, 2003.
When was LinkedIn founded?
Allen Blue, Reid Hoffman, Konstantin Guericke, Jean-Luc Vaillant, and Eric Ly developed LinkedIn on May 5, 2003.
How does LinkedIn make money?
LinkedIn’s whole business strategy is based on job searches, network interactions, and connections.
Naresh Goyal is the man behind Jet Airways. Goyal started by borrowing some money from his mother and ended up being the owner of the largest airline company in India. After the Jet Airways IPO, NareshGoyal’s net worth was estimated by Forbes at $1.9 billion, and he was also announced as the 16th richest Indian by Forbes magazine. However, his fortune changed drastically, with the downfall of his company. Debts mounted for Jet Airways, and eventually, it not only dragged down the fortune of Naresh Goyal but also ensnared him with a list of allegations, which he still isn’t able to run free from.
Read ahead to know the story of this man who took it from scratch to become a millionaire, and is presently under the radar of the Enforcement Directorate.
Naresh Goyal – Early life, Education and Challenges
Naresh Goyal was born on 29 December 1949. He was born in Sangrur, Punjab. Though he was born in the house of jewellery dealer, Goyal had to face hardships since his childhood days. All of these began with his father’s sudden demise when he was still a child.
Goyal studied in the Govt. Raj High School for Boys till his 6th standard. He, along with his family, went through a major financial crisis when he was just 11 years old. The Goyal family sustained but lost almost all the property in an action by the government and the bank, including their own house. His maternal uncle helped him during this time. He paid for his studies till his graduation. He wanted to pursue Chartered Accountancy but instead ended up doing B.Com from Govt. Bikram College of Commerce, Patiala.
Naresh Goyal
Naresh Goyal – Family
Naresh was born into a Punjabi Hindu family, where his mother was a house-maker and his father a jewellery dealer. His father died when he was too young. He also had an elder brother, Surinder Kumar Goyal, who was the co-founder of Jet Airways, along with Naresh. Surinder was earlier the co-founder of the travel agency Jet Air, which was founded by himself and Naresh in 1974. Naresh’s elder brother also had a key role in the launch of Jet Airways. Surinder Kumar Goyal died on August 9, 2015.
He got married to Anita Goyal, and she has been there with him right from the beginning of Jet Airways and is still sharing the fate that Naresh Goyal has been recently seeing. The couple has a daughter and a son – Namrata Goyal and Nivaan Goyal. Their daughter Namrata Goyal is a Film Producer at FilmStoc, while their son Nivaan Goyal was on the Board of directors of Jet Airways.
After his graduation in 1967, he joined his uncle, Seth Charan Das Ram Lal’s travel agency, East West Agencies, as a cashier. Goyal’s starting salary was INR 300/per month.
As soon as he completed his graduation, Naresh joined the travel business with the GSA for Lebanese International Airlines. In the period between 1967-1974, Naresh Goyal went through extensive training in his travel business while in association with numerous foreign airlines. Goyal also travelled extensively during this period.
He was appointed as the Public Relations Manager of Iraqi Airways in 1969 because of his hard work and dedication. Goyal was eventually appointed as the Regional Manager for ALIA, Royal Jordanian Airlines in 1971 and operated in the same position till 1974. During this time, he gained experience in the areas of ticketing, reservation, and sales. He had also worked with Indian officers of Middle Eastern Airlines.
He borrowed some money (nearly £500) from his mother in 1974 to start up his own travel agency along with his brother and named it Jetair. His agency represented sales and marketing of airlines like Air France, Austrian Airlines, and Cathy Pacific.
Jet Airways
He was appointed as the Regional Manager of Philippe Airline in 1975 and handled the commercial operations of the airline in India. When the Government of India announced the Open Skies Policy in 1991, Naresh initiated an airline company, and in 1992, he transformed his agency into Jet Airways.
Jet Airways started its operations nationwide in 1993, and by 2004, Jet Airways initiated operations of international flights. By 2010, Jet Airways was the largest air carrier in India after it acquired Air Sahara in 2007. However, it was then that troubles began to boil up for Naresh Goyal and his company, which led to Naresh Goyal stepping down from his position in March 2019.
Naresh Goyal – Controversy
A PIL was filed against him in the 2000s, alleging him to have links with the underworld don Dawood Ibrahim. It was said that Jet Airways was founded by Dawood but was given a clean chit by the government along with security clearance.
He was also booked for money laundering by Enforcement Directorate (ED) under Foreign Exchange Management Act (FEMA) for his involvement in suspicious transactions involving 19+ privately held firms associated with him, and in March 2019, the ticketing agent-turned entrepreneur, Naresh Goyal, stepped down from the Board of Jet Airways, along with his wife, Anita Goyal.
Naresh and Anita Goyal were booked on charges of cheating and a criminal breach of trust in February 2020 by the MRA Marg Police. Allegations still persist against Naresh Goyal and the CBI will likely soon file an FIR against Naresh Goyal, and his associations on the basis of the allegations against him and his close aids for defrauding banks and misappropriating the loans granted by them, as of April 2022.
In 2019, the airline delayed payments to banks, following which the company sought an $840 million bailout from the shareholders. Then, the shareholders approved the conversion of the loan into equity.
Finally, the lenders finalized a resolution plan for the airline, and they agreed to infuse Rs 1,500 crore in interim funding for a period of 2 months. Naresh Goyal and Anita Goyal stepped down from the board in March 2019. The airline company is all set now to resume its services soon, as per the reports of May 2022, under the ownership of Kalrock Capital and Mr. Murari Lal Jalan.
He has been the recipient of several awards throughout his lifetime.
Awards
Year
Entrepreneur of the Year Award for Services from Ernst & Young
September 2010
Distinguished Alumni Award-2000
October 2000
Outstanding Asian-Indian award
November 2003
Aerospace Laurels for outstanding contribution in the field of Commercial Air Transport
April 2000 and February 2004
NDTV Profit Business Award 2006
28 July 2006
Accorded the prestigious TATA AIG – Lifetime Achievement Award
8 September 2007
Travel Entrepreneur of the Year award at the 19th annual TTG (Travel Trade Gazette) Travel Awards
25 October 2007
Man of the Year Award by the Aviation Press Club (APC)
9 April 2008
Business Person of the Year award by UK Trade & Investment at the India Business Awards 2008
9 September 2008
CNBC TV18 India Business Leader Awards
22 January 2009
International Entrepreneurs of the Year by the readers of Asian Voice
27 February 2009
Lifetime Achievement Award of the Year by the Travel Agents Association of India (TAAI)
August 2010
Hall of Fame honour from Hotel Investment Forum of India 2011
January 2011
Belgium conferred the Commandeur of the Order of Leopold II, one of the country’s highest civilian distinctions
November 2011
Amity Leadership Award for Business Excellence
October 2012
Naresh, as a man, started from a humble household and got up the ladder by himself. His first salary was just Rs 300 per month. He went through a time of hard struggles and polished himself to be a fine man. He never gave up and thought big. His story inspires us to have ambition and to create our own destiny. Though he seems to be on unstable grounds now, Naresh Goyal will always stand as a father figure for the legions of entrepreneurs to come.
One of the main reasons that led to the downfall of Jet Airways is the rising debts that ensnared the company and its operations. The Chairman’s management style was also opposed by many, which, therefore, was also another reason.
Who took over Jet Airways?
Jet Airways went into bankruptcy in June 2019 after it failed to repay its mounting debt of $1.2 billion. Airlines like Vistara acquired 16 aircraft from the fleet of temporarily shut Jet Airways. Jet Airways is currently all set to resume its operations soon, as of May 2022.
Who is the new owner of Jet Airways?
Murari Lal Jalan and Kalrock Capital are the new owners of Jet Airways.
Who is the CEO of Jet Airways?
Sanjiv Kapoor has been named the CEO of Jet Airways.
Everybody realizes how time-consuming & tricky it is to draft a resume. To move past the ATS system, you must describe your skillset that’s intriguing to recruiters and suitably present your resume.
Several job hunters use virtual resume designers to save effort & time. Because many websites that sell resume maker apps give free tests or minimal membership fees, using a designer is a key to creating a good resume & is:
Simpler than drafting it yourself.
Less expensive than hiring a typical resume writing provider.
However, with so many resume maker portals to choose from, it can be hard to ascertain which one is worthwhile.
In this article, we’ll be briefly discussing about Resume Giants. Without any further ado, let’s dive right in.
Resume Giants is a cutting-edge expert profile and a self-branding company that creates tactical, well-written, and expert résumé, self-branding techniques, & interview guidance for grads, retired special forces, Government & executive experts looking for a leg up.
It aims at ensuring that its users stand out, perfectly brand themselves, and are ready for their career path by incorporating an open mindset versus classic methods and status quo techniques.
They offer world-class CVs, professional self-branding guidance, and interview mentoring to their clientele. They offer the finest detailed career assistance deals in the sector by bringing specialists, executive authors, and super-smart teammates. They are a client-focused company that prioritizes its clientele.
Resume Giants- Mission
Resume Giants mission is to offer incredible resume & marketing tools, as well as advisory services to their clients, irrespective of sector or profile. They aim to serve job hunters in locating their ideal jobs.
Resume Giants- Business Model
Their resume designer was created to make writing the finest resume as simple as possible.
To make your hiring process more pleasant and simple, they’re continuously collecting in-depth details about the employment sector, information about fun and modern evolving professions, the most prevalent skillset, and current workplace trends.
By providing specialized material, expert suggestions, and genuine, up-to-date cv samples that matter and boost your likelihood of landing your dream job.
Resume Giants- How Do They Earn Money?
Resume Giants doesn’t charge any fees for the first-year folks signing up. After that, they do charge a small amount for their services.
It collects data on all registered jobseekers, such as one‘s resumes, contact details, profiles, & other relevant data. It then sells it to businesses that are in search of good candidates. This is also one of their sources of income.
Resume Giants- Acquiring the First 100 Users
To generate more traffic on their site, they initially used a generic tactic and focused solely on a single language and market. And they’re now tailoring it to a specific demographic. They are presently focusing solely on SEO and social media marketing.
Resume Giants- Challenges
There are times when there is less traffic on a website, lower bounce rates, or lower conversion rates. To change it and check what works and what does not there is something called AB testing which is done by Resume Giants. They assess and reject or optimize anything which doesn’t work or just doesn’t enhance the tool. They also record the progression using market information and previous encounter.
Hindustan Unilever Limited (HUL) is a British-Dutch assembling organization headquartered in Mumbai, India. The items of Hindustan Unilever Ltd incorporate nourishments, drinks, cleaning specialists, individual consideration items, water purifiers, and purchaser merchandise. HUL was set up in 1933 as Lever Brothers and following the merger of its constituent gatherings in 1956, HUL was renamed Hindustan Lever Limited. The organization was then renamed in June 2007 as “Hindustan Unilever Limited”.
At the start of 2019, the Hindustan Unilever Limited portfolio had 35 items marked in 20 classifications and utilized 18,000 representatives with offers of Rs. 34,619 crores in 2017-18. In December 2018, HUL reported its procurement of Glaxo Smithkline’s India business for $3.8 billion out of an all value merger manage ratio of 1:4.39.
However, the joining of 3800 representatives of GSK stayed questionable as HUL expressed there was no provision for maintenance of workers in the deal. In January 2019, HUL said that it hopes to finish the merger with Glaxo Smith Kline Consumer Healthcare (GSKCH India) this year.
Hindustan Unilever Limited (HUL) is India’s biggest quick-moving customer merchandise organization. HUL works in seven business sections.
The cleanser segment incorporates cleansers, cleanser bars, cleanser powders, and scourers. Individual items incorporate items in the classifications of oral consideration, healthy skin (barring cleansers), hair care bath powder, and shading beautifiers. Refreshments incorporate tea and espresso.
Nourishments incorporate staples (atta salt and bread) and culinary items (tomato-based items natural product-based items and soups). Frozen yogurts incorporate frozen yogurts and solidified treats. Others incorporate synthetic substances and water business.
HUL’s item portfolio incorporates family unit brands—for example, Lux, Lifebuoy, Surf Excel, Rin, Wheel, Fair and Lovely, Pond’s, Vaseline, Lakme, Dove, Clinic Plus, Sunsilk, Pepsodent, Closeup, Axe, Brooke Bond, and Bru, Knorr, Kissan, and Kwality Wall’s. HUL is a backup of Unilever, one of the world’s driving providers of food products, home care, personal care, and refreshment items with deals in more than 190 nations and a yearly turnover of $6.08 billion in 2020.
Hindustan Unilever Limited traces its origins to Unilever, a British-Dutch multinational company, which is the parent of HUL. William Hesketh Lever was a popular social reformer and is regarded as one of the main propagators of several significant employee benefits options like benefits of health, savings, and more. Thus, his ideologies largely seeped into Unilver and resulted in developing its strong sense of corporate responsibility and leadership. This culture was invariably passed on to the Hindustan Unilever Limited (HUL).
The British-Dutch company Unilever, which emerged as a result of the merger of the operations of Dutch Margarine Unie and British soapmaker Lever Brothers, when it first came to India, discovered the rich and largely unexplored potential of the Indian market. Soon after, the establishment of Hindustan Vanaspati Mfg. Co. Ltd. followed in 1931, which was succeeded by the foundation of Lever Brothers India Limited (1933) and United Traders Limited (1935). The Indian subcontinent had only been importing FMCG products, branded under Lever Brothers since then, the first of which were spotted as early as 1888. Following this, brands like Lifebuoy stepped in 1895, along with other famous companies like Pears, Lux, and Vim. Vanaspati was launched in 1918 and the famous Dalda brand came to the market in 1937.
The 3 Unilever companies – Hindustan Vanaspati Manufacturing Company, Lever Brothers India Limited, and United Traders Limited eventually merged together to form HUL in November 1956. HUL offered 10% of its equity to the Indians and soon swooped into the news, being the first foreign subsidiary to do so.
The organization obtained Lipton in 1972, and Lipton Tea (India) Ltd was consolidated in 1977. Brooke Bond joined the Unilever overlap in 1984 through a global obtaining. Lake’s (India) Ltd joined the Unilever overlap through a worldwide securing of Chesebrough Pond’s USA in 1986.
The progression of the Indian economy, which began in 1991, denoted an enunciation in the organization’s development bend. The expulsion of the administrative structure enabled the organization to investigate every item and open-door section with no imperatives on the creation limit. At the same time, deregulation allowed acquisitions and mergers.
The Tata Oil Mills Company (TOMCO) converged with the organization with effect from April 1, 1993. In 1996, Unilever and Lakme Ltd framed a 50:50 joint endeavor, Lakme Unilever Ltd, to advertise Lakme’s market-driven beautifiers and other suitable results. In 1998, Lakme Ltd offered its brands to Unilever and stripped its half stake in the joint venture.
In 1994, the organization and US-based Kimberly Clark Corporation framed a 50:50 joint endeavor—Kimberly-Clark Lever Ltd—which markets Huggies Diapers and Kotex Sanitary Pads. The organization likewise set up a backup in Nepal called Unilever Nepal Limited (UNL). UNL’s production line speaks to the biggest assembling interest in the Himalayan kingdom. In the1992, Brooke Bond gained Kothari General Foods with critical interests in instant coffee.
In 1993, HUL acquired Kissan from the UB Group and the Dollops ice-cream business from Cadbury India. Tea Estates and Doom Dooma, two major organizations of Unilever, were converged with Brooke Bond. At that point, in 1994, Brooke Bond India and Lipton India converged to shape Brooke Bond Lipton India Ltd (BBLIL) to empower more noteworthy concentration and guarantee collaboration in the customary beverages business. BBL converged with Unilever with effect from January 1, 1996.
The internal rebuilding finished with the merger of Pond’s (India) Limited (PIL) with HUL in 1998. The two organizations had huge covers in personal products, specialty chemicals, and export organizations; other than a typical appropriation framework since 1993 for personal products. The two additionally had a typical administration pool and an innovation base.
In January 2000, the administration chose to grant 74% value in Modern Foods to Unilever. This started the divestment of government value in open division endeavors (PSU) to private area accomplices. The organization’s entrance into bread production is a key augmentation of the organization’s wheat business. In 2002, the organization procured the administration’s residual stake in Modern Foods.
Journey Of Hindustan Unilever
In 2002, the organization made its entry into Ayurvedic well-being with its Ayush item range and Ayush therapy centers. In 2003, the organization procured the Cooked Shrimp and Pasteurized Crabmeat business of the Amalgam Group of Companies, an innovator in marine products trades. Additionally, the organization propelled Hindustan Unilever Network Direct to home business. In 2004, the organization launched the ‘Pureit’ water purifier.
In 2005, Lever India Exports, Lipton India Exports Ltd, Merry climate Food Products, Toc Disinfectants Ltd, and International Fisheries Ltd were amalgamated within Unilever. In February 2006, Vasishti Detergents Ltd (VDL) converged with Unilever. In September 2006, Modern Foods Industries (India) Ltd & Modern Foods and Nutrition Industries Ltd were included. In October 2006, Unilever stripped its 51% controlling stake in Unilever India Shared Services Ltd, currently known as Capgemini Business Services Pvt. Ltd., to Cap Gemini SA.
In March 2007, Sangam Direct, a non-store home conveyance retail business managed by Unilever India Exports Ltd (UIEL) and a completely possessed auxiliary, was moved to Wadhavan Foods Retail Pvt Ltd (WFRPL) in a droop deal business. Likewise, Unilever completed the demerger of its operational offices in Shamnagar, Jamnagar, and Janmam and shaped three autonomous organizations —Shamnagar Estates Ltd., Jamnagar Properties Ltd, and Hindustan Kwality Walls Foods Ltd. In June 2007, the organization changed its name from Hindustan Lever Ltd to Hindustan Unilever Limited.
In 2008, the organization reported its coordinated efforts with the Indian Dental Association (IDA) related to World Dental Federation (FDI) through the Pepsodent brand to help improve the oral well-being and cleanliness benchmarks in India. In April 2008, the organization demerged and moved certain immovable properties to Brooke Bond Real Estates Pvt Ltd. In January 2010, the organization introduced its new corporate office.
In April 2010, Unilever affirmed the plan of amalgamation of Bon Ltd, an entirely possessed backup of Hindustan Unilever Limited, with it. The selected date for the previously mentioned plan was 1 April 2009 and the plan was made viable from April 28, 2010. Ensuing to the amalgamation, Bon Ltd stopped being an auxiliary of the company.
During 2010-11, Kissan forayed into a new market fragment in three major classifications. It propelled Kissan Fruit and Soya, a delightful mix of organic product juice and soya milk, which appreciated a separated suggestion in this market. The brand likewise went into the Indian (non-sweet) spreads showcase with the dispatch of Kissan Creamy Spread over key towns. In the bakery division, the organization propelled two new items—Chapi and Cream Rolls. The organization stripped 43.31% stake in Hindustan Field Services Pvt Ltd for Smollan Group (the JV accomplice).
Along these lines, Hindustan Field Services Pvt. Ltd. stopped being a backup organization. Lakme Lever Pvt Ltd, a completely claimed auxiliary of HUL, extended the system of Lakme Beauty Salons in that year with the opening of 11 franchises and oversaw salons alongside 18 franchisees’ salons.
In December 2011, the organization demerged the FMCG sends-out business, including explicit fares related to assembling units of the organization, into its entirely claimed backup Unilever India Exports Ltd (UIEL). The plan wound up successful on January 1, 2012.
Hindustan Unilever Limited- One Team One Dream
In 2012, the organization went into a concurrence with Unilever to showcase Brylcreem in India. During the year under audit, Unilever and elements of Piramal Realty (Ajay Piramal Group) consented to an arrangement for the task of HUL’s leasehold privileges of the land and building named Gulita arranged at Worli Sea Face Mumbai for an exchange estimation of Rs. 452.5 Crore.
On 22 January 2013, the Board of Directors of HUL affirmed a proposition to consent to another arrangement with its parent organization Unilever for the arrangement of innovation exchange imprint permit, trademark registration, and other services on 1 February 2013. This new understanding underlined that the loyalty cost of 1.4% of turnover payable by HUL to Unilever will increment in a staged way to an eminence cost of 3.15% of turnover, no later than the money-related year finishing 31 March 2018.
The expansion in eminence cost in the period from 1 February 2013 to 31 March 2014 is assessed to be 0.5% of turnover and from there on in the scope of 0.3% to 0.7% of turnover in each money related year, paving the way to a complete evaluated sovereignty cost increment of 1.75% of turnover contrasted with existing courses of action no later than the monetary year finishing 31 March 2018.
In 2014, Unilever reported an organization with Internet.org, a Facebook-directed coalition of accomplices to see how web access can be expanded to contact millions of individuals crosswise over India. The organization additionally dispatched Prabhat activity for network improvement in towns around its industrial facilities during the year under survey. Furthermore, the organization also went into association with MTV to embrace its brands during the year under review. In 2015, the organization propelled The Unilever Foundry.
During the year under audit, the organization was perceived as the most inventive advertiser at the Mobile Marketing Association (MMA). The organization additionally resuscitated Ayush with e-dispatch during the year. Besides, it also propelled the ‘Swachh Aadat Swachh Bharat’ program in India during the year under review. On 8 September 2015, HUL reported that it has further consented to bring forth an arrangement for the deal and the transfer of its bread and pastry shop business under the brand Modern to Nimman Foods Private Limited, an investee organization of the Everstone Group, for an undisclosed amount.
HUL is the market chief in Indian buyer items with products in more than 20 purchaser classes (for example, cleansers, tea, cleansers, and shampoos among others). Sixteen of HUL’s brands were included in the ACNielsen Brand Equity rundown of 100 Most Trusted Brands Annual Survey (2014) which was completed by Brand Equity, an enhancement of The Economic Times. There are many brands and products owned by Hindustan Uniliver:
Brands And Products Of Hindustan Unilever Limited (HUL)
Food Products
Annapurna salt and Atta (once known as Kissan Annapurna)
Bru gold
Brooke Bond 3 Roses, Taj Mahal, Taaza and Red Label tea
Kissan squashes, kinds of ketchup, squeezes and sticks
Lipton ice tea
Knorr soups and supper creators and soupy noodles
Kwality Wall’s solidified treat
Modern Bread, prepared to eat chapattis and other pastry shop things (presently offered to Everstone Capital)
Magnum (ice cream)
Homecare Brands
Wheel cleaner
Cif Cream Cleaner
comfort cleansing agents
Domex disinfectant/toilet and bathroom cleaner
Rin detergent products
sunlight cleanser and shading care
Surf Excel cleanser and delicate wash
Vim dishwash
magic – Water Saver
Personal Care Brands
Aviance Beauty Solutions and products
Axe deodorant and aftershave lotion and soap and accessories
Lever Ayush Therapy ayurvedic health care and personal care products and items
International breeze
Brylcreem hair cream, hair gel and hair products
Clear anti-dandruff hair products
Clinic Plus shampoo and oil
Close Up toothpaste
Dove skin cleansing & hair care range: bar, lotions, creams, and antiperspirant deodorants
Hindustan Unilever is an FMCG company that leverages its Direct to Consumer (D2C) business model and has made over 50 billion in revenue, as discovered in 2017. The company has crossed INR 50,000 cr ($6.55 bn) in turnover during FY21, as per the reports on April 2022. HUL is the first pure FMCG brand to hit such a milestone.
The business model of Hindustan Unilever is propelled with the idea of making living sustainable feasible for the masses. With sustainable living, HUL wants to bring about:
Bettering the future of the children
A future full of confidence
A future full of health
A future that is better for the planet
A future that is better for the farming and farmers of India
The beauty and personal care segment of Hindustan Unilever helps the company see the most profit, while the food and refreshments segment is declared as the fastest-growing segment of the company. Home care is another segment of the company among its 3 primary segments.
The Hindustan Unilever company gets its competitive advantage from the global footprint it has and the track record of the company for enhancing value for its consumers around the globe.
Some of the prominent patterns that are noticeable in the business model of HUL are:
Reverse Innovation
Reverse innovation refers to the process of building products for industrial countries and then adapting them to the emerging markets. The technique of reverse innovation is what is truly wielded by HUL, which has been a prominent inspiration for many other big brands. The ‘Knorr Stock Pot’ that the brand came up with is an excellent example of leveraging reverse innovation. This technique was mastered by HUL by taking references from the famous ‘Dense Soup treasure,’ which was the first major example of reverse innovation, launched in China in 2007.
Focussing on the financially weak
In contrast to the other foreign subsidiaries, HUL ideated to focus on the financially weaker sections of the country, which led them to focus on the majority of the Indian people. Citing the discovery of Wheel detergent powder is one of the examples where Hindustan Unilever created products for the majority of the Indian consumers. Wheel had lower oil-to-water ratio, which enabled Indian to wash textiles even in rivers with hands. Wheel was then made available cleverly by the brand in the local corner shops as well as via door-to-door representatives.
Staying keen on the Triple Bottom Line
While most of the companies solely focus on the profit part of the follow the Triple Bottom Line with only a little focus on the other segments, HUL has a new approach where the brand decided aimed for the other segments, thereby caring for people and the planet.
HUL largely focuses on the people, including its consumers and others. For instance, the company changed the name of one of its popular products “Fair and Lovely” to “Glow and Lovely”, following the All Black Lives Matter movement that raged globally. This instantly made HUL a favourite!
Significant Distribution Strategy
The distribution strategy that Hindustan Unilever follows is exemplary! It focuses on hyperlocal markets, retail stores, wholesalers, hypermarkets convenience stores, ecommerce, and more. This hugely helps in the promotion of the HUL products and moving them fast to the consumers!
Business Growth In India
FMCG giant Hindustan Unilever Limited (HUL) announced a 15.98% development in solidified net benefit at Rs 6,060 crore for the monetary year finished March 31, 2019, when contrasted with Rs 5,225 crore in 2018. The net profit that HUL witnessed in FY21 rose by 18% YoY at Rs 7,954 crore.
Business Growth Of Hindustan Unilever
Remarking on the profit, HUL Chairman and Managing Director Sanjiv Mehta stated, “We have conveyed a solid execution for the quarter regardless of some balance in rustic market development. Our attention to fortifying the center and driving business sector advancement has been reliably conveying great outcomes. We have now developed top line and primary concern for the eighth continuous year and our 2019 outcomes were a demonstration of both our technique and execution.”
Growth Of Hindustan Unilever
“Given the large-scale monetary pointers, close term advertise development has directed. Notwithstanding, the medium-term viewpoint remains positive. As an association, we are well-situated to react with speed and nimbleness to address the issues of our shoppers. We stay concentrated on our vital plan of conveying predictable, focused, beneficial, and dependable development,” he included.
“Together with the between time profit of Rs 9 for each offer, the all-out profit for the money-related year closure March 31, 2019, adds up to Rs. 22 for every offer,” the organization said. “Combined income for 2018-19 remained at Rs 39,860 crore, up from Rs 36,622 crore a year sooner,” HUL said in a document to the Bombay Stock Exchange.
Hindustan Unilever’s Volume Growth
HUL’s business in India developed by 12%, driven by 10% volume development in the household advertise. In the January-March quarter, the organization posted 13.84% development in its independent net benefit at Rs 1,538 crore when contrasted with Rs 1,351 crore in a similar quarter a year ago. The offers of the organization remained at Rs 9,809 crore in Q4FY19 from Rs 9,003 crore in Q4FY18, enrolling a development of 8.95%. The working benefit (EBITDA) for the March quarter was up 13% year-on-year at Rs 2,321 crore and the EBITDA edge was up 90 bps.
Challenges Ahead Of Hindustan Unilever
The organization said that the edge improved because of judicious administration of instability in costs (unrefined and money driven) alongside improved blend and working influence.
HUL reported that its Earnings before interest, tax, depreciation and amortisation (EBITDA) stood at Rs 11,324 crore, while the EBITDA margin was reported to be 25% during FY21.
Hindustan Unilever NSE 0.01 % (HUL) may clock 9-10% development in June quarter benefit despite a slight balance in volumes because of value climbs crosswise over classes. IIFL Institutional Equities expects the FMCG major to report a 6% volume development, a slight control from the 7% volume development recorded in the past quarter.
Growth Prediction Of Hindustan Unilever
“Our channel checks give us a feeling that the organization has started value climbs crosswise over classes, (for example, cleansers, espresso), among others. We along these lines gauge a business development of 9%, like the past quarter level. We expect the slight withdrawal in gross edge to be counterbalanced by influence in promotion spending and different costs. In general, EBITDA and PAT are relied upon to develop at 13% and 12%, individually,” IIFL said. IDFC Securities expects HUL to report 10.3% to ascend in benefit at Rs 1,728 crore. It sees deals developing at 8% to Rs 10,250 crore.
“We expect 6% volume development and factor in deals development of 11% in home consideration and 7% in close to home consideration portions. Lower advertisement spends (down 80 bps YoY) and commands over different overheads will help EBITDA edges,” it stated while proposing edge at 24.3% against 23.7% the previous year. Edelweiss sees income, Ebitda, and benefit development at 7.3%, 8.6%, and 7.7% YoY.
Hindustan Unilever’s Performance In Past Years
“We anticipate that HUL’s volume should grow 5% YoY on a high base of 12% YoY development. Q1FY18 was affected by GST dispatch thus the best approach to take a gander at volume development is three years’ normal, which will be 5.6%. Delicate quality in the second 50% of Q4FY19 proceeded for the full quarter in Q1FY20. Provincial development is presently at a similar level as urban development. A mixed value climb of 2.5% has been taken. On EBITDA edge front, we expect 20-30 bps YoY development,” the business said.
FAQs
What is Hindustan Unilever origin?
Hindustan Unilever or Hindustan Unilever Limited (HUL) is an Indian subsidiary of Unilever, which sprung from its Dutch-British roots. HUL is headquartered in Mumbai.
Who is the owner of Hindustan Unilever Limited?
HUL is owned by Unilever, its British multinational parent, headquartered in London.
What is HUL?
HUL is the acronym for Hindustan Unilever Limited.
Who are Hindustan Unilever founders?
Hindustan Unilever founders can be cited as 3 parent companies – Hindustan Vanaspati Mfg. Co. Ltd., Lever Brothers India Limited, and United Traders Limited, which were merged to form HUL.
