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Tag: 📄Company Profiles

  • Swaas Success Story – Creating Eco-Friendly Home Decor and Lifestyle Goods That Make a Positive Impact

    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 Swaas.

    The home decor industry has seen a great increase in demand as consumers increasingly seek to personalize their living spaces. With the rise of e-commerce, people are getting more interested in ordering home accessories online, as it gives them the flexibility to shop from the comfort of their homes. Due to this, online home decor has become a massive global market, estimated to reach $348.3 billion by 2027.

    As consumers become more conscious of sustainability and ethical practices, a growing number of companies are focusing on eco-friendly and socially responsible products. One such company is Swaas, a women-led startup that offers a range of sustainable and beautifully crafted home decor products for the conscious consumer.

    In this article, learn more about Swaas, its startup story, founder, business and revenue model, and more.

    Swaas – Company Highlights

    Startup Name Swaas Enterprises Private Limited
    Headquarters Coimbatore, Tamil Nadu, India
    Sector Home Decor, Lifestyle
    Founder Sudha Anand
    Founded 2012
    Website swaas.in

    Swaas – About
    Swaas – Industry
    Swaas – Founder
    Swaas – Startup Story
    Swaas – Mission and Vision
    Swaas – Name, Tagline, and Logo
    Swaas – Business Model and Revenue Model
    Swaas – Startup Launch and Marketing Strategy
    Swaas – Challenges Faced
    Swaas – Competitors
    Swaas – Future Plans

    Swaas – About

    Swaas offers a wide range of home textiles and decor products, including bed linens, pillow covers, table linens, and more. The company uses high-quality fabrics and materials to create beautiful and functional products that are designed to enhance the look and feel of any home.

    Swaas’s products are known for their attention to detail, quality craftsmanship, and unique designs. The company works closely with skilled artisans and designers to create products that are both beautiful and functional, while also being sustainable and environmentally friendly.

    Swaas – Industry

    Swaas belongs to the home decor industry, which includes a wide range of products designed to enhance the aesthetics and functionality of homes.

    In recent years, the home decor industry has experienced significant growth, driven by factors such as increasing urbanization, rising disposable incomes, and a growing interest in home renovation and decor. With the rise of eCommerce and online marketplaces, consumers have access to a wide range of home decor products, and companies like Swaas are leveraging technology to reach and engage with their target customers. Overall, the home decor industry presents a significant opportunity for companies that can offer unique, high-quality, and sustainable products that meet the evolving needs and preferences of consumers.

    The Global Home Decor Market is estimated to be USD 714.23 Bn in 2022 and is expected to reach USD 873.16 Bn by 2027, growing at a CAGR of 4.1%.

    The global home decor market is estimated to be $714.23 billion in 2022. Growing at a CAGR of 4.1%, the market is expected to reach $873.16 billion by the year 2027.

    “Awareness about home and lifestyle products is increasing in India. We see robust growth in the industry year on year and in near future. The growth will be sustained, given the increase in income levels & awareness about improved quality of life in urban middle class in India.” Says Sudha Anand, Founder, Swaas

    De Space Interior Design – Founders | Challenges | Business Model
    Company Profile is an initiative by StartupTalky to publish verified informationon different startups and organizations. The content in this post has been approved by the organization it is based on. Great home decor and furnishings is now a style statement. And with modulardesigns entering the 

    StartupTalkyVidhi Punamiya

    Swaas – Founder

    Dr. Sudha Anand is the founder of Swaas.

    Dr. Sudha Anand

    Dr. Sudha Anand - Founder of Swaas
    Dr. Sudha Anand – Founder of Swaas

    Dr. Sudha Anand is a keen entrepreneur and the founder of Swaas. She is also the director of marketing at BKS Textiles Pvt Ltd.

    With a background in medicine, Dr. Anand joined her family business in 2008 due to her passion for entrepreneurship. Since then, she has been instrumental in growing the business and establishing Swaas as a leader in the sustainable home decor segment.

    Through Swaas, she aims to create a positive impact on society and the environment by offering sustainable and eco-friendly home decor products that are both beautiful and functional.

    Swaas – Startup Story

    Sudha’s family owns a textile company, BKS Textiles Pvt Ltd, and she joined the business in 2008 as the Director of Marketing.

    While working at BKS Textiles, she noticed a growing demand for sustainable and eco-friendly home decor products in India and around the world. She saw an opportunity to create a brand that would cater to this demand while also providing affordable, stylish, and functional products to Indian consumers.

    Swaas was then established as a brand of BKS Textiles under the leadership of Sudha Anand. Drawing on her expertise in marketing and entrepreneurship, Sudha founded Swaas with the goal of offering sustainable home decor products that would make a positive impact on society and the environment. Through Swaas, she has been able to establish herself as a leader in the sustainable home decor segment, offering a range of products that are made with eco-friendly materials and processes.

    Swaas has been successful in capturing the attention of Indian consumers who are looking for high-quality, sustainable home decor products that align with their values.

    “We tried selling through our factory stores and the response was very encouraging and we decided to expand on that idea”, said Sudha.

    Swaas – Mission and Vision

    Swaas’ short-term vision is to increase e-commerce sales and bring in brand awareness and the long-term vision is to be a part of every upper-middle-class household in India by selling online and in physical stores. Swaas is willing to foray into neighboring countries and Southeast Asian markets like Thailand, Indonesia, Sri Lanka, Vietnam, and Cambodia in the future.

    Swaas Core belief –Bringing international lifestyle to Indian households, having sustainability and women empowerment as the cornerstone.

    Swaas Logo
    Swaas Logo

    After deliberate brain-storming sessions, with a need to have an Indian touch and authenticity in the brand name – Swaas was decided! The team intended to keep the logo clean and simple and with an international look and feel.

    Swaas stands for breath which is always with us and the tagline “Around you always’’ implies Swaas offers products that are around you always.

    Swaas – Business Model and Revenue Model

    Swaas works on a B2C business model. It sells its products online via its website and other marketplaces. It also sells through offline stores.

    The business model of Swaas basically revolves around designing, manufacturing, and selling sustainable home decor and lifestyle goods. Its product range includes a variety of home decor and lifestyle goods such as tableware, bedding, and more, all made with eco-friendly materials and processes. The company sources its materials from sustainable and organic sources, and its products are designed to be durable, long-lasting, and easy to maintain.

    In terms of sales channels, Swaas operates both physical retail stores and an online store, which allows it to reach a wider audience and offer customers greater convenience and flexibility in how they shop.

    Swaas also serves as a manufacturer for various international brands, offering them the expertise and resources necessary to develop and produce sustainable home decor products that meet the needs of their own customers.

    Swaas – Startup Launch and Marketing Strategy

    As a consumer brand, being visible is the most important move. Swaas started a physical store in its factory premises, which is on a national highway, and designed it with a touch of European architecture. This attracted people to the store.

    “Seeing the positive response, then slowly our journey started. We forayed into online. We started being active on social media like Facebook, Instagram, LinkedIn and twitter which helped us to increase our customer base” says Sudha Anand, founder, Swaas

    • Social media (Facebook and Instagram) presence and marketing helped Swaas to create extensive brand awareness, thereby increase in sales.
    • Quality & well-designed products at the right price have helped Swaas in customer retention.
    • The Women’s Day campaign seemed to be successful for Swaas, as it spoke about the involvement of women in making Swaas products.

    Livspace – How it Successfully Enables World-Class Home Interior Designs!
    Get an insight into the Livspace story, which is helping shape the future of home interiors without hassles. Learn more about its founders, and more.
    StartupTalkySarika Anand

    Swaas – Challenges Faced

    Understanding customer preference is the main challenge faced by Swaas.

    The company addressed this by taking constant feedback from the salespeople in charge and by following the sales trends. By doing this, it started to understand consumer preferences. It also helped Swaas improve its product offering, which led to greater customer satisfaction. “This is an ongoing process,” stated Sudha.

    Swaas – Competitors

    Portico, D’Decor, and Spaces are the top competitors of Swaas in the home dĂ©cor and lifestyle industry.

    Swaas – Future Plans

    Swaas will continue to expand its product range and explore new ways to incorporate sustainability into its business practices. Swaas plans to have physical stores in metros and foray into the Southeast Asian market.

    “We would like to acquire companies making home care products and add to our product range”, said Sudha Anand, founder of Swaas.

    FAQs

    What is Swaas?

    Swaas is a company that offers a wide range of home textiles and decor products, including bed linens, pillow covers, table linens, and more.

    Who is the founder of Swaas?

    Dr. Sudha Anand is the founder of Swaas, which operates retail stores and an online store for sustainable home decor products.

    Who are the top competitors of Swaas?

    Portico, D’Decor, and Spaces are the top competitors of Swaas in the home dĂ©cor and lifestyle industry.

    Which business owns the brand Swaas?

    Swaas was established as a brand of BKS Textiles Pvt Ltd under the leadership of Sudha Anand.

  • AT&T: Transforming Communication Through Innovation

    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 AT&T

    Telecommunication has made a positive impact on society by helping businesses grow their network. It makes long-distance communications easier via electronic modes. Though we are living in a global village where even America is just a phone call away, the beginning stages of telecommunication were not that easy. AT&T company is the descendant of the American Telephone and Telegraph Company which holds the pride of connecting most parts of America via telephone networks.

    Company Name AT&T Inc
    Headquarters Whitacre Tower, Downtown Dallas, Texas
    Industry Telecommunication Technology
    Founders Alexander Graham Bell, Gardiner Greene, Hubbard
    Founded October 5, 1983
    Website Att.com

    AT&T – About
    AT&T – Industry
    AT&T – Founders and Team
    AT&T – Startup Story
    AT&T – Mission and Vision
    AT&T – Name and Logo
    AT&T – Business Model
    AT&T – Revenue Model
    AT&T – Employees
    AT&T – Challenges Faced
    AT&T – Funding and Investors
    AT&T – Mergers and Acquisitions
    AT&T – Awards and Achievements
    AT&T – Competitors
    AT&T – Future Plans

    AT&T – About

    AT and T company’s origin dates back to 1876 when Alexander Graham Bell first invented the telephone. He secured a patent for the device when he first made the wire transmission of intelligible speech. In 1877, a year after the invention, he and two other investors Gardiner C. Hubbard and Thomas Sanders, formed the Bell Telephone Company. Later, in the next year, they sold it to a group of financiers. The Bell company was already in a race with the leading telegraph company, Western Union Company, regarding the development of telephone services. In 1881, Bell bought Western Electric, the leading maker of telegraphic equipment, and became the most dominant manufacturer of telephone equipment.

    During most parts of the 20th century, AT and T ruled the phone service of the United States as a monopoly. The Bell Telephone company formed American Telephone and Telegraph Company as a subsidiary company in 1885. In 1899, American Bell Company transferred its assets to its subsidiary, resulting in the formation of AT&T as the parent company. The company was rebranded as AT and T Corp. in 1994.  

    AT&T – Industry

    The telecom industry in the United States is valued at $412.4B in 2021 and is expected to grow at higher rates in the upcoming years. Telecom companies are competing to become the fast-paced, greater network in the global market. To succeed companies are taking equal efforts in understanding customer needs worldwide. Global needs are constantly changing and industry knowledge and updation are necessary to survive the position. Currently, omnichannel strategy and extensive technology investments are mandatory as the growth is rapid like 5G.

    AT and T is the world’s largest telecommunication company in terms of revenue. It is also the third largest company in providing mobile telephone services. The revenue from the sector is likely to increase by 17% per annum as per the reports.

    AT&T – Founders and Team

    AT&T was founded by Alexander Graham Bell, Thomas A. Watson, and Gardiner Greene Hubbard in 1875. AT&T underwent a lot of transformations and reformations between 1982 and 2004.

    AT&T Founders
    AT&T Founders – Alexander Graham Bell, Thomas A. Watson, Gardiner Greene Hubbard

    Alexander Graham Bell

    Graham Bell is an inventor, scientist, and engineer who invented the practical telephone. He is the co-founder of the American Telephone and Telegraph Company (AT&T) in 1885. He started the idea of establishing the company immediately after getting the patent rights for the telephone. He grew the idea and the company along with two other investors.

    Thomas A. Watson

    Born in Massachusetts, United States, Thomas A. Watson was a bookkeeper and a carpenter before Alexander Graham Bell hired him. He is known for the invention of the telephone. Being the recipient of the first phone call, his name was the first ever word said on the telephone. Watson took great pride in his role as an inventor, having developed numerous telephone accessories that helped to enhance the user experience.

    Gardiner Greene

    Gardiner Greene Hubbard was an American lawyer, financier, and community leader. He was the co-founder and the first president of the Bell Telephone Company which was later known as AT and T. He was also the founder and president of the National Geographic Society.

    AT&T – Startup Story

    AT and T company started as Bell telecommunication company when the telephone was first introduced. In 1885, Bell became an American Bell Telecommunication company, and AT&T company was formed as one of its subsidiaries. In 1899, AT&T acquired the assets of its parent company. It established a network of local telephones along with all its subsidiaries in the United States and became a monopoly in the sector. The monopoly continued mostly through the twentieth century. The Bell system was also known by the nickname Ma Bell.

    Later, in 1982, the US regulators broke up the AT&T monopoly by grouping them into seven individual companies. These new companies were called Regional Bell Operating Companies, informally Baby Bells. AT&T continued to operate successfully in providing long-distance services despite the increasing overseas competition.

    SBC (Southwestern Bell Corporation) was one of the breakups of AT&T. SBC made a series of acquisitions in the late 80s and early 90s. The acquisitions include Metromedia mobile business and several cable companies. When SBC acquired 2 baby bells and several other telecommunication companies in the latter part of the 1990s, the company changed its name to SBC Communications Inc., Later, in 1998, the company was in the top 15 of the Fortune 500. In 1999, AT&T was part of the Dow Jones Industrial Average.

    AT&T purchased its former parent and other companies between 2005 – 2013. Though it follows the corporate structure and stock price histories of SBC from 2005, it claims its original history dates to 1877. Following several acquisitions and rebranding including DirecTV and several other satellite channels, AT&T reorganized itself into four main units. The units are,

    • Communications
    • AT&T Mobility
    • Film and Television Production
    • Advertising and Analytics

    AT&T – Mission and Vision

    AT&T had various plans in the sector from 2013 when they settled clearly as a top service provider in the US. They planned various launches including the satellite-operated HBO television which got launched in 2020. They invested and divested various capital to diversify the company. Now, they are an unbeatable top company in the industry.

    The mission of AT&T is “Innovate and get there first”. The company’s mission statement includes the purpose, value, and goals of the business.

    Their vision says  “We aspire to be the most admired and valuable company in the world”. By enriching and making the lives of people easier, they bring the most exciting modes of communication to the market.

    AT&T Name and Logo
    AT&T Name and Logo

    AT&T was formerly known as Bell company. AT and T stand for American Telephone and Telegraph Company. As a credit to the founders, AT&T had a logo of a bell in its early stages which was later reshaped into an emblem.

    AT&T – Business Model

    Though AT&T has various operations and businesses, the mainstream income is from communication operations. They provide various kinds of telecommunication services which include wireless services, TV Broadband, and much more. The acquisition and provision of assets and businesses usually go into the rebranding expenses.  

    AT&T – Revenue Model

    AT&T is a top service provider in the telecommunication sector. It derives its income from various sources, including the wireless phone business, broadband, and TV operations. The revenue generally flows from subscription mobile, fixed-line, and wireless broadband services.

    Setting up AT&T Internet

    AT&T – Employees

    As of January 2022, AT&T had 2,03,000 employees. This count has declined by 11.74% since then. The higher officials have taken steps to keep the door glass by providing a friendly atmosphere and embracing actions to improve the value of employment. AT&T is a job grind with a 90% turnover rate in the first year of employment. AT&T employees get the benefit of accessing the services of their company at a discounted price and also access to television options like HBO Max, and STARZ at no extra cost.

    AT&T – Challenges Faced

    Like every other sector, telecommunication also has its pros and cons. AT&T has also faced many challenges and struggles to reach the position of the largest company. The three major challenges faced by the company are,

    • Defending the Time Warner merger, and convincing the regulators
    • Defending its zero-rating strategies. By offering data-free consumption of DirecTV on mobile and home devices, it became an unfair strategy to other streaming companies like Netflix
    • The struggle to keep the debt level under control even after the acquisitions

    AT&T – Funding and Investors

    The company goes through funding rounds frequently to get some funds to run the company network smoothly. The recent funding round in Jan 2023 has a fundraising of $2,200,000 from the Kansas Office of Broadband Development.

    AT&T – Mergers and Acquisitions

    The company has a greater history of acquisitions. The total acquisitions of AT&T are 32 till now. The latest and key acquisitions are listed below.

    Acquisition Acquired Date
    AlienVault July 2018
    AppNexus June 2018
    Fiber Tower Jan 2017
    Iusacell Nov 2014
    Nextel Mexico Jan 2015
    AppNexus June 2018
    NextWave Wireless 2005
    Centennial Wireless 1988

    AT&T – Awards and Achievements

    • AT&T has won the J.D. Power 2021 Business Wireline Satisfaction Award for large enterprises and medium businesses for the second straight year.
    • Since 2017-2021, the company has been recognized as the No. 1 telecommunications company, based on factors such as innovation, social responsibility, and human capital management.
    • AT&T Business also won the 2020 Company of the Year Award for the Global Cellular Internet of Things (IoT) Industry, Excellence in Best Practices. Frost & Sullivan, a business consulting firm, granted the award to recognize AT&T Business for visionary innovation, market-leading performance, and unmatched customer care.

    AT&T – Competitors

    The company is a multinational holding business and has the biggest mobile telephone services. This calls for competitors all over the world. Here, is a list of leading competitors for AT&T to know about.

    • Verizon
    • Vodafone
    • COX
    • Singtel
    • America Movil
    • KDDI
    • Nippon Telegraph and Telephone Corporation
    • Comcast
    • Telefonica

    AT&T – Future Plans

    The company has strong growth potential due to its competitive performance in the current macroeconomic environment. In 2022, AT&T shares have climbed an increasing stream of 3.9%. By 2025, 75% of its network footprint will be served via fiber and 5G. It will also have reduced its copper services footprint by 50%.

    FAQs

    Who is currently the CEO of AT&T?

    John T. Stankey is the CEO of AT&T since July 1, 2020.

    What is AT&T used for?

    What is AT&T used for?AT&T Inc (AT&T) is a provider of telecommunications, media, and technology services. The company offers wireless communications, data/broadband and internet services, local and long-distance telephone services, telecommunications equipment, and managed networking.

    How much debt does AT&T have?

    The long-term debt for the quarter of September 2022 was $123.854B.

    Which is the largest acquisition for AT&T?

    The largest acquisition of AT&T to date is WarnerMedia for $108.7B in 2016.

  • United Parcel Service – Shipping with Confidence

    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 Uni.

    United Parcel Service is the world’s premier package delivery company and a leading provider of global supply chain management solutions. They deliver packages each business day for millions of shipping and delivery customers in over 220 countries and territories.

    United Parcel Service – Company Highlights

    Company Name United Parcel Service
    Headquarters Sandy Springs, Georgia
    Primary Industry Courier
    Founders James E. Casey
    Founded In 1907
    Website Ups.com

    United Parcel Service – About
    United Parcel Service – Industry
    United Parcel Service – Founders and Team
    United Parcel Service – Startup Story
    United Parcel Service – Mission and Vision
    United Parcel Service – Name, Tagline, Logo
    United Parcel Service – Business Model
    United Parcel Service – Revenue Model
    United Parcel Service – Employees
    United Parcel Service – Challenges Faced
    United Parcel Service – Acquisitions
    United Parcel Service – Competitors
    United Parcel Service – Awards and Achievements

    United Parcel Service – About

    United Parcel Service (UPS) is a global and the largest package delivery company in the world. It is also the largest express carrier and provider of logistics services. UPS has built a global transportation infrastructure to offer its comprehensive portfolio of guaranteed delivery services to customers around the world. As a global provider, UPS offers supply chain and chain management solutions, as well as large package transportation services for businesses of all sizes. With its extensive network and reliable service, UPS is one of the leading companies in package delivery and supply chain management worldwide.

    United Parcel Service – Industry

    The courier industry in the US has been growing steadily as a result of several reasons. The commerce market is one of the biggest drivers, with increasing technological developments and significant penetration of digital commerce. This has stimulated growth in demand for delivery services for both businesses and consumers alike. Drone delivery services are also becoming increasingly popular, offering quick and efficient local delivery services to customers. Furthermore, locker delivery systems have gained traction among customers who prefer convenient home deliveries.

    United Parcel Service – Founders and Team

    Claude Ryan and Jim Casey - Founders, UPS
    Claude Ryan and James E. Casey – Founders, UPS

    James E. Casey was an American businessman who found the American Messenger Company, which is now commonly known as UPS. He found the company originally in Seattle, Washington as a 19-year-old young boy. He was the president and CEO of his newly founded company and Claude Ryan was his partner. He made his brother George and other teenagers his messengers. The only motto of the new venture was “best service and lowest rates”.

    United Parcel Service – Startup Story

    Founded in 1907, UPS began as a regional parcel delivery service and now its operations encompass the delivery of packages and documents to more than 220 countries. Its small package operations include both domestic and international package delivery services for letters, documents, and packages up to 150 pounds. UPS also provides palletized freight services for heavier items as well as customized supply chain solutions. With an extensive ground fleet, air fleet, and global logistics network, the company’s operations provide delivery of packages between points within the same country or across international borders. As a major player in the delivery industry, UPS is committed to meeting customer needs with cost-effective solutions that ensure their shipments are delivered on time.

    United Parcel Service
    United Parcel Service

    In 1913, it changed its name to United Parcel Service and began offering parcel post services. By 1919 they had expanded their operations to include delivery services throughout the United States and beyond. This made them one of the first international delivery firms in history. In 1975, UPS became an alternative to traditional post office services by providing affordable parcel delivery options for individuals and businesses alike. Today, UPS is a global logistics and supply chain powerhouse. With its vast network of air, ground, and freight services, UPS works with customers to provide tailored solutions for their shipping needs. The UPS Supply Chain Solutions division offers complete end-to-end supply chain management solutions in over 220 countries and territories. The company also has specialized services for large-volume shippers such as UPS Freight, which provides truckload brokerage services throughout North America. In addition to its core shipping business, the company also offers financial services through its subsidiary, UPS Capital.

    History of UPS

    United Parcel Service – Mission and Vision

    In the beginning, the motto of the company was to send messages to people at better prices. Later the company expanded its mission and vision of the company broadened and here go the statements. The mission of UPS company is “To provide solutions and world-class customer service by ensuring our retailers are supported in the over 5,000 communities we serve”.

    The vision of the company is, “Passionately support the small businesses in our neighborhoods because their community is our community”.

    UPS - Logo
    UPS – Logo

    The company was first founded as American Messenger Company which was later renamed United Parcel Services and it concentrated only on courier services earlier. The tagline briefs the motto of the company which is Customer First, People Led, Innovation Driven.

    The company has made a stable and reliable color palette for the logo which is gold and brown. The shiningly embraced key symbol on the logo depicts more sustainability and strength of the brand.

    United Parcel Service – Business Model

    United Parcel Service (UPS) is the largest package delivery company in the world. Its service includes UPS Freight, parcel delivery, and global supply chain solutions. UPS operates distribution centers and truckload transportation services across the US Domestic, Europe, Asia Pacific, Middle East, and Africa regions. It has established a strong presence in over 220 countries and territories around the world. The company provides customers with domestic package delivery services as well as international parcel shipping solutions. Additionally, it offers UPS supply chain services including contract logistics, freight forwarding, and customs brokerage to help customers manage their global supply chains. is a global delivery company with a business model that includes various supply chain and logistics solutions. It provides distribution services, freight distribution, and package delivery services to businesses and consumers worldwide.

    United Parcel Service – Revenue Model

    United Parcel Services (UPS) is one of the leading parcel service companies in the world. Its business and revenue model is based on its package reporting segment, which includes domestic carriers, package delivery services, and cargo handlers. UPS offers small package operations, air cargo services, and palletized freight delivery systems to customers across the globe.

    With its vast network of more than 200 countries and territories, it provides customers with timely delivery solutions for their parcels. UPS is constantly innovating its package delivery system to meet customer demand efficiently. Its advanced technology allows customers to monitor their packages at all times through its website or mobile app which makes it easier for them to track their shipments in real time. Additionally, UPS has been expanding into other segments such as 3PL logistics, supply chain management services, and e-commerce fulfillment solutions to stay competitive in the marketplace. The company has also been investing heavily in research & development as well as new technologies such as drones which can be used for more efficient deliveries of smaller packages or goods over short distances within urban areas where traditional ground transportation might not be feasible or cost-effective due to traffic congestion or distance traveled per mile etc.

    United Parcel Service – Employees

    UPS believes in the strength of the employees which constantly drives the success of the company. UPS helps its employees to pursue great career and personal development. UPS also encourages its employees towards a positive culture and provides opportunities to learn and grow. The benefits also include competitive pay, healthcare including dental, medical, vision, retirement benefits, career growth, paid time off, employee discounts with top retailers, a variety of work shifts, adoption assistance, and also discounted employee stock purchase plans.

    United Parcel Service – Challenges Faced

    Due to the increased online sales, UPS is forced to invest in the infrastructure which ends more than capital spending. The covid has also collapsed courier services by mixing and matching the deliveries.

    United Parcel Service – Acquisitions

    UPS is a global leader in logistics and supply chain management. It offers a wide range of delivery services, from UPS Truckload and UPS Freight to air, package, forwarding, and SurePost services. Through its acquisition of companies such as Marken and Coyote Logistics, UPS has been able to enhance its capabilities in freight forwarding and business-to-business distribution. With the acquisition of Quantum View Data Services and Mail Boxes Etc., it has become an even bigger player in the parcel delivery industry. The company also recently acquired Kiala to expand its presence in Europe. In addition, it offers warehousing solutions through its Supply Chain Solutions division as well as international shipping through its Global Forwarding division. All these acquisitions have allowed UPS to provide a comprehensive suite of services that meet the needs of all types of businesses across multiple industries around the world.

    United Parcel Service (UPS) has been a major international shipper for many years. In recent years, the company has acquired several other companies to expand its delivery solutions and global supply chain capabilities. UPS acquired Fritz Companies in 2018 and Tiger International in 2020, while FedEx bought Tiger in 2018 as part of a stock swap agreement. These acquisitions have helped UPS become one of the top players in the overseas shipping war. UPS provides innovative delivery solutions that help businesses streamline their supply chain operations and improve customer service levels around the world. As a result, it is now one of the most recognized names when it comes to parcel services worldwide

    United Parcel Service – Competitors

    The courier industry is filled with new ventures from small ones to bigger unicorns. The topmost competitor of UPS currently is FedEx. The other top competing companies include the United States Postal Service, Australia Post, Ryder System Inc., DPDgroup UK ltd., and XPO logistics.

    United Parcel Service – Awards and Achievements

    • Ken Finnerty (UPS vice president, enterprise data & analytics) receives Informatica Chief Data Officer Analytics Champions Award
    • Carol B. TomĂ© recognized on the Top 50 CEOs for Diversity list
    • UPS China wins Chinese government sustainability awards
    • UPS named to Top 50 Companies for Diversity list
    • UPS named to Fortune World’s Most Admired Companies list
    • UPS receives America’s Top Corporations for Women Business Enterprises award
    • UPS was rated one of the “World’s Most Admired” companies and the No. 1 company in the delivery industry in an annual survey conducted by FORTUNE magazine

    FAQs

    Will UPS deliver without a signature?

    Shipments that do not require a signature can be left in a safe place.

    How many days does UPS take to deliver?

    UPS usually takes 3 days to deliver the package.

    Does UPS charge by weight or size?

    Rates are based on the total actual weight or the total dimensional weight of all packages in a shipment, whichever is greater.

    How do I calculate UPS shipping costs?

    1. From any page on ups.com, select the Shipping tab.
    2. Select Calculate Time and Cost.
    3. Follow the directions, noting the required fields.

    How long does it take for UPS to clear customs?

    Typically, it can take minutes or hours for a package to clear customs. However, if there is a problem, it can take days or even weeks.

  • General Motors: Driven to Succeed

    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 General Motors.

    General Motors, a multinational corporation based in the United States, was the leading automobile company for 77 years until it was surpassed by Toyota in 2008. Despite this, GM has consistently ranked among the top 15 companies on the Fortune 500 list, and recently moved up from No. 8 to No. 5. With operations in eight countries and four brands, GM is also involved in joint ventures with Chinese automakers and produces military vehicles for the US government.

    General Motors – Company Highlights

    Company Name General Motors
    Headquarters Michigan, US
    Sector Automotive
    Founder William C. Durant, Charles Stewart Mott. Frederic L. Smith
    Founded September 16, 1908
    Website gm.com

    General Motors – About
    General Motors – Automotive Industry
    General Motors – Founders and Team
    General Motors – Startup Story
    General Motors – Mission and Vision
    General Motors – Name, Tagline, Logo
    General Motors – Business Model
    General Motors – Revenue Model
    General Motors – Employees
    General Motors – Challenges Faced
    General Motors – Mergers and Acquisitions
    General Motors – Awards and Achievements
    General Motors – Competitors

    General Motors – About

    General Motors are the manufacturer, marketer, and distributor of vehicles and vehicle parts. GM is a public company owned by shareholders. General Motors formerly known as General Motors Corporation has been the world’s largest motor-vehicle company for most of the 20th and early 21st century. With a global presence, General Motors operates manufacturing and distribution plants not only in the United States and Canada but also across many other regions of the world. The company is majorly involved in the production of automobiles and trucks which also includes automotive components.

    General Motors – Automotive Industry

    The automotive industry comprises a wide range of companies and organizations involved in the business of manufacturing, design, marketing, and distribution of automotive products. The automotive industry began in the 1860s with a lot of manufacturers that pioneered change in the carriage system. Earlier the manufacturing process involved a lot of labor from engineering to very little work. At the beginning of the 1960s robotic equipment was introduced and now most of the work is automated. General Motors is been a leading manufacturer in the industry for decades.

    General Motors – Founders and Team

    The origins of General Motors date back to September 16, 1908, when the company was originally founded. However, the present-day version of the company is the result of a reorganization that took place on July 10, 2009. General Motors was established by William C. Durant, Charles Stewart Mott, and Frederic L. Smith.

    William C. Durant

    William C. Durant - General Motors
    William C. Durant – General Motors

    William Crapo Durant was a leading pioneer of the United States automobile industry. He co-founded General Motors and Chevrolet. He was the one who introduced the system of multiple marques with different automobile lines. He also founded Frigidaire.

    Charles Stewart Mott

    Charles Stewart Mott - General Motors
    Charles Stewart Mott – General Motors

    Mott was an industrialist and businessman in America. He co-founded General Motors along with the other two. He initiated the idea of building colleges and pledged $1 Million towards the project. He also founded the Flint Senior College now the University of Michigan – Flint.

    Frederic L. Smith

    Frederic L. Smith - General Motors
    Frederic L. Smith – General Motors

    Frederic Latta Smith was the pioneer of the automobile industry. He was one of the founders of the Olds Motor Works before he co-founded the General Motors Corporation in 1908. During the early years of the Association of Licensed Automobile Manufacturers Smith managed to be its president.

    General Motors – Startup Story

    In the early 1900s, the General Motors company was formed under the leadership of William C. Durant. The formation was to consolidate several motorcar companies like Buick, Oldsmobile, Oakland, Marquette, and other several autos. This consolidation also includes Reliance and Rapid Trucks. The auto giant was the innovative body that first introduced the electric self-starter in 1912. Though it became obsolete in the beginning. GM became the leading American passenger car manufacturer in 1929.

    Durant first formed the company as a holding company, with Charles Stewart Mott as a partner. The name was initially borrowed from General Electric. In 1919, with the acquisition of Guardian Frigerator Company, became the GMAC, General Motors Acceptance Corporation. GMAC provides financing to automotive customers and the acquisition was renamed Frigidaire.

    In 1920, GM heavily competed with the Ford Motor Company under the leadership of Alfred P. Sloan. He implemented the pricing strategy from least to most expensive vehicles in his annual model changes. Sloan also created a market for the previous year’s car models as used cars. In 1921, GM patented the tetraethyllead (gasoline) compound and also developed Chlorofluorocarbons both were banned in the later years as harmful ingredients for the biosystem. In 1926, the Pontiac brand was introduced by GM along with the insurance program for its employees. In 1927, Sloan created the ‘Art and Colour Section’ of GM and Harley Earl was its first director. The automobile design created by Earl is still in practice. After Earl, Mitchell took over the design for GM.

    GM invented the breakthrough in heat treatment by introducing the Jominy end-quench test for the hardenability of carbon steel in 1937. In 1939, the company placed its feet in the vehicle insurance market by finding the Motors Insurance Corporation. In the same year, the company introduced the world’s first affordable and successful automatic transmission.

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    Vast quantities of production happened during the times of world war 2 when the company supplied armaments, aircraft, and vehicles for the Allies of World War 2. Its German factories were destroyed by the U.S. forces during the war for which a compensation of $32M was received by the company.

    In 1962, the first turbocharged engine was introduced by the GM for the Oldsmobile Cutlass Turbo-Jetfire. In the next two years, the company introduced its “Mark of Excellence” logo and trademark at the 1964 New York World’s Fair. The company used this mark as its main corporate identifier until 2021.

    The first-ever hydrogen fuel cell car was released by General Motors Company in 1966. Though fuel cells were already in existence, GM was the first one to use them to power the vehicle. The budget to use the power cell supplied by Union Carbide was millions of dollars. It also introduced the first-ever turbochargers and gas turbine vehicles powered by kerosine, but later the techniques were abandoned due to the oil crisis in 1973.

    GM produced the first rear-wheel anti-lock braking system for two vehicles namely the Toronado and Eldorado. The Oldsmobile Toronado is also the first retail car with a passenger airbag introduced in 1973. In 1975, GM installed the first catalytic converters in its models. The converters are exhaust emission control devices that convert toxic gases into less-toxic pollutants. Year after year GM proved itself by introducing various new techniques and innovations in the market.

    In 1987, GM built the Sunraycer, which won the inaugural World Solar Challenge. This invention was a showcase of advanced technology. Later, in 1990, GM debuted the EV1 concept which is a battery electric vehicle at the LA Auto Show. But the EV1 lease was available to only a few dealers in California and Arizona. Production was stopped for this product as it would not be profitable for the company. This disappointed many people which led the company to deactivate and destroy the EV1s, 40 of which were donated to museums. The documentary film ‘Who Killed the Electric Car?’ covers the story of EV1. In 1993, Lotus cars by GM were sold to Bugatti.

    It was in 1996, that GM completed the corporate spin-off of Electronic Data Systems. The next year, GM sold its military businesses of Hughes Aircraft Company to Raytheon Company. Being the king of inventions in the automotive industry, GM introduced the first full-sized pickup truck hybrid vehicle, the Chevrolet Silverado Sierra trucks in May 2004. Other than these mild hybrids, GM also developed another debutante using hybrid technology, along with DaimlerChrysler and BMW. In the same year, GM sold the electro-motive diesel locomotive design to Berkshire partners and Greenbriar Equity group.

    GM added its “Mark of Excellence” emblem in all its productions till the reorganization in 2009. In 2005, GM newly created the vice president position to lead a global automotive design organization and made Edward T. Welburn the first VP. 2006 was the year when GM introduced the yellow gas cap on its vehicles to identify them as cars operated using E85 ethanol fuel and Saturn Vue Green Line.

    In 2008, GM concentrated on reducing landfill waste to achieve the status of landfill-free production. It started recycling and reusing the wastes from manufacturing processes. This was the year GM was conscious about the environment and offered a 2-mode hybrid system in most of its vehicles. It also installed the world’s largest rooftop solar power installation in its manufacturing plant in Zaragoza.

    In March 2009, the company received bailouts of $17.4 B under the presidency of Barack Obama. Then, GM motors filed a chapter-11 reorganization and sold its assets including the logo to the new company and thus the new GM was born. General Motors Canada was not a part of Chapter 11 bankruptcy. The US department of treasury invested $49.5 B through the Troubled Asset Relief Program in GM and recovered only $39B with a loss of $10.3B. It also invested in the GMAC financing companies and had a profit of $2.4B. In 2009, the company shut down the production of the Saturn and Pontiac brands due to a lack of potential buyers. It also sold Hummer and Tengzhong in the same year.

    After the reorganization, the company appointed a new CEO and made changes to the BOD team. The company became public through its public offerings in November 2010. This is one of the world’s top five largest IPOs to date. In the same year, the company became profitable. In the later periods of 2010, GM introduced extended-range electric vehicles (EREV) with backup generators powered by gasoline.

    In 2013, GM and Honda partnered to develop a fuel cell system and hydrogen storage technology. They are the leaders in fuel cell technology holding most of the patents for fuel cells from 2002 to 2012. In 2015, the second generation Volt was launched in the United States and Canada. In 2017, GM introduced an autopilot feature in certain models of cars. In the same year, the GM Venezolana plant was seized by the Government of Venezuela in Valencia, Carabobo.

    In November 2018, GM laid off 14000 employees in North America as it comprised the workforce by 15% and executive staff members by 25%. In 2019, GM ceased the production of the Chevrolet Volt and announced to begin of the production of the EV model in Lake Orion, Michigan. In January 2020, GM announced the return of the Hummer nameplate within the GMC portfolio known as GMC Hummer EV.

    GMC Hummer EV

    During the Covid period, GM assisted Ventec life systems to produce Ventilators. In September 2020, GM announced its partnership with Nikola Corporation to engineer and manufacture the Nikola Badger. Later, GM was committed to increasing capital investments in electric vehicles. GM in January 2021 announced its plan to stop the production and sales of fossil fuel vehicles as part of its goal to reach Carbon neutrality by 2040. It also announced its plan to start an automotive battery and battery pack laboratory in Michigan. GM facility at Brownstown Township is chosen to be upgraded as a battery pack plant. In April, GM announced its joint venture with LG to build batteries for electric vehicles.

    Lately, GM also made the largest investment project in its home state, Michigan to invest $7B to convert plants to produce electric plants and build new battery plants.

    Leading car brands in the United States in 2021, based on vehicle sales
    Leading car brands in the United States in 2021, based on vehicle sales

    General Motors – Mission and Vision

    The original mission statement of GM is to earn customers for life by building brands that inspire passion and loyalty through not only breakthrough technologies but also by serving and improving the communities in which we live and work around the world.

    The vision of the company is to stand together to drive the world forward. The statement is, “Everybody in. Our goal is to deliver world-class experiences at every touchpoint and do so on a foundation of trust and transparency.”

    General Motors - Logo
    General Motors – Logo

    General Motors Company was formerly known as General Motors Corporation. The logo of GM fades from light blue to dark blue with GM letters in lowercase type. The logo intends to evoke the clean skies of a zero-emissions future and the energy of the Ultium platform. The company had only two basic emblems from the beginning of the company which is a script wordmark and a bow-tie design. The most recognizable bow-tie symbol was introduced in 1913 by William C. Durant on the Royal Mail model.

    General Motors – Business Model

    General Motors uses the Generic Strategy from Porter’s model as its business model. The competitive strategy of this model is cost leadership. This creates a competitive advantage based on the low costs of products.

    General Motors – Revenue Model

    The main source of revenue for the company is vehicle sales. It also earns an equal amount of revenue from its financing companies called GM Financial. The main stream of income for the company from the beginning is the manufacturing, assembling, and distribution of vehicles.

    General Motors – Employees

    General motors currently have 1,57,000 employees working in the company. The reward program at GM includes compensation, paid time off for holidays, high-quality health care, and GM family savings on vehicles, parts, and services.

    General Motors – Challenges Faced

    GM was the leading automobile industry for almost 77 years before its bankruptcy in 2009. The bankruptcy was due to the rising gas prices as consumers started looking elsewhere for fuel-efficient cars. When the sales went down, the company struggled to meet even the fixed cost expenses.

    General Motors – Mergers and Acquisitions

    General Motors had several acquisitions all these years. Here is a timeline glimpse of the latest and key acquisitions made by the company.

    Acquisitions Acquired Date
    Cruiser RV March 2016
    Cruise March 2016
    Sidecar January 2016
    Cadillac July 1909
    Vauxhall Motors 1925
    Packard Electric 1932
    Euclid Trucks 1953

    General Motors – Awards and Achievements

    General Motors bagged 4 awards in 2018 and 3 awards in 2017. It won the best CEO award in 2018.

    General Motors – Competitors

    General Motors ruled as a monopoly for the most of 20th century and the earlier times of the 21st century. But, it also has some heavy competition in the market like Tesla, Toyota, Chrysler, Honda, and Ford.

    FAQs

    What is General Motors known for?

    General Motors Co. engages in the designing, manufacturing, and selling of cars, trucks, and automobile parts.

    What does General Motors own?

    General Motors owns Buick, Cadillac, Chevrolet, and GMC. Hummer returned as a GMC sub-brand. GM has a formal partnership with Honda to co-develop EVs.

    What is the biggest controversy faced by GM?

    GM was accused of having assisted the Nazis war during the second world war.

    What was the reason for the failure of GM in India?

    GM failed in India due to poor product planning and the lack of adaptability to the market.

  • GreenSole Success Story – How an Eco-Friendly Footwear Startup Is Making a Sustainable Difference

    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 GreenSole.

    Recycling and sustainable manufacturing are critical components of an environmentally conscious society. Recycling helps to conserve natural resources and reduce the amount of waste sent to landfills, while sustainable manufacturing ensures that goods are produced in an environmentally friendly way. When combined, these practices can significantly reduce the environmental impact of the products we consume.

    One startup that is making a significant impact in this field is GreenSole, founded by Shriyans Bhandari and Ramesh Dhami. Their unique vision is to recycle old shoes and convert them into usable, high-quality products. By doing so, GreenSole not only helps to reduce waste but also provides an affordable and sustainable solution for footwear. The company’s innovative approach to recycling has garnered widespread attention and praise, and its efforts are contributing to a more sustainable future for all.

    In this article, learn more about GreenSole’s business and revenue model, startup story, founders, and more.

    GreenSole – Company Highlights

    Startup Name GreenSole
    Headquarters Mumbai, Maharashtra, India
    Sector Footwear, Recycling, Manufacturing
    Founder Shriyans Bhandari, Ramesh Dhami
    Founded 2015
    Website greensole.com

    GreenSole – About
    GreenSole – Industry
    GreenSole – Founders
    GreenSole – Startup Story
    GreenSole – Mission and Vision
    GreenSole – Name, Tagline, and Logo
    GreenSole – Business Model and Revenue Model
    GreenSole – Challenges Faced
    GreenSole – Advertisements and Social Media Campaigns
    GreenSole – Achievements and Recognition
    GreenSole – Competitors
    GreenSole – Future Plans

    GreenSole – About

    GreenSole is a unique startup that is making a significant impact in the field of social and environmental innovation by working in the area of sustainable footwear manufacturing and recycling.

    The company refurbishes discarded sports shoes into comfortable footwear and provides them to those in need, protecting them from the diseases caused by unprotected feet. With its innovative approach, GreenSole tackles the environmental issue of reducing waste with its zero carbon footprint refurbishing process.

    GreenSole – Industry

    GreenSole operates within the footwear industry, which is a massive global market expected to reach $320.44 billion by 2023. The industry has been historically associated with heavy environmental impact due to the high consumption of raw materials and energy during the production process. GreenSole’s focus on sustainable manufacturing and recycling has the potential to make a significant impact in reducing the industry’s overall environmental impact.

    As GreenSole continues to grow, the company has the potential to expand its operations and impact. It has already provided refurbished footwear to thousands of individuals in need and has plans to expand its reach even further. With its commitment to sustainability, innovation, and social impact, GreenSole is well-positioned to continue making a difference in the footwear industry.

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    GreenSole – Founders

    Shriyans Bhandari and Ramesh Dhami are the founders of GreenSole.

    Shriyans Bhandari

    Shriyans Bhandari, CEO and Co-founder, GreenSole
    Shriyans Bhandari, CEO and Co-founder, GreenSole

    Shriyans Bhandari, an accomplished entrepreneur, and social innovator is the CEO and co-founder of GreenSole. He is also the Director of Heritage Girls School. Shriyans holds a Bachelor’s degree in Management Studies from Jai Hind College in Mumbai, India, and has also done MSM Entrepreneurial Leadership from Babson College in Massachusetts, USA.

    Ramesh Dhami

    Ramesh Dhami, Director and Co-founder, GreenSole
    Ramesh Dhami, Director and Co-founder, GreenSole

    Ramesh Dhami is the Director and co-founder of GreenSole. At GreenSole, he is responsible for handling the donation drives and village data collection. Ramesh has also designed the first prototypes of GreenSole footwear.

    GreenSole – Startup Story

    GreenSole is a startup initiated by two athletes, Shriyans Bhandari and Ramesh Dhami. The idea of sustainable footwear emerged when they observed the wastage of money and resources through dumping used and expensive shoes. The duo used to run hundreds of kilometers each year and often went through multiple pairs of sports shoes annually. However, they noticed that while the soles were still in good condition, the sides of the shoes would tear within a few months.

    This made them curious if there was a way to repurpose the high-quality shoe soles that were still usable. After conducting some research, they came up with the idea to transform them into stylish slippers. They started to develop prototypes, then got CSR funding and stepped into the retail market, which gave birth to an eco-friendly business called GreenSole.

    This was just a project of 19-year-old teenagers to provide a long-lasting solution for the environment, but as time passed, the idea gained popularity among Gen Z and Millennials, and now they have reached an established organization position.

    GreenSole – Mission and Vision

    GreenSole’s vision statement says, “To contribute to social good, by creating a self-sustaining infrastructure that facilitates the provision of the basic necessity of footwear to everyone, forever, environmental good, by refurbishing discarded shoes with zero carbon footprint and economic good by giving employment to refurbish shoes.”

    The mission of GreenSole is-
    “To upcycle and donate a million pairs to children in need while creating employment opportunities for women in rural areas. Supporting our three pillars of change: social, environmental, and economic.”

    GreenSole Logo
    GreenSole Logo

    GreenSole’s tagline is  “Step towards sustainability” – promote sustainability to encourage people to step up for eco-friendly solutions by buying a pair of sustainable footwear or donating and becoming nature saviors through associating with us.

    Speaking about the story behind the name GreenSole, in the initial days, the team named the brand ‘Kadam by Kadam’ but then a professional agency helped them and came up with the idea of “GreenSole”. This name not only depicts the essence of the brand but is also reachable all over the globe. And the tagline shares the same story.

    GreenSole – Business Model and Revenue Model

    The business model of GreenSole is based on a circular economy approach, where waste is converted into a valuable resource.

    GreenSole’s revenue model is based on two primary sources:

    1. Corporate social responsibility (CSR) partnerships: GreenSole partners with various corporates and organizations to collect their discarded shoes and transform them into comfortable footwear for underprivileged communities. The company charges a fee for collecting, cleaning, repairing, and delivering the shoes to the beneficiaries.
    2. Direct-to-consumer sales: GreenSole also sells its upcycled shoes directly to consumers through its website and other online marketplaces. Customers can buy the shoes for themselves or donate them to a chosen NGO or social cause. The revenue generated from these sales is reinvested back into the company’s operations and social impact initiatives.

    GreenSole offers vegan and sustainable solutions in footwear and clothing that customers can buy online through e-commerce platforms, which is not just an eco-friendly gesture but also very convenient to adopt.

    The startup also donates a part of its revenue toward establishing skill centers and providing footwear for underprivileged children. As GreenSole is also into recycling and CSR, where companies have to discard their wastes from the production of footwear and apparel, it recycles that waste, converts it into usable articles, and donates them. So, these are the essential products and practices of GreenSole.

    GreenSole – Challenges Faced

    “The most challenging phase was entering the industry itself as we had no prior experience in entrepreneurship manufacturing footwear. So, precisely learning how to produce a pair of sustainable footwear and the whole process of recycling and donating was our key challenge” says Shriyans.

    GreenSole – Advertisements and Social Media Campaigns

    GreenSole #DonatingWalks

    From the very beginning, GreenSole’s idea of sustainability grabbed the attention of this new generation and the startup managed to gather the crowd easily.

    Its most successful campaign was #Donatingwalks. The campaign was an initiative launched by Greensole to encourage people to donate their old shoes. The idea behind the campaign was to collect shoes that were no longer being used, refurbish them, and donate them to underprivileged individuals in need of footwear. The campaign aimed to promote sustainability by reducing waste and promoting responsible consumption while also making a positive impact on the lives of those who received the donated shoes.

    Greensole actively promoted the campaign on its website and social media pages and partnered with other organizations to increase its reach and impact. The campaign received a lot of attention on social media platforms, with many individuals and organizations supporting the cause and spreading awareness about the importance of sustainability and responsible consumption.

    GreenSole – Achievements and Recognition

    • GreenSole started its first skill center in 2018 in collaboration with TATA Steel and Lion’s Club Noamundi.
    • GreenSole footwear has been showcased twice on the runway of Lakme Fashion Week.
    • GreenSole has been awarded Lexus India Design Award 2017 and social entrepreneur of the year 2018 by Franchise India and Economic Times.
    • The founders were featured in Forbes 30 Under 30 – Asia – Social Entrepreneurs (2018).

    GreenSole – Competitors

    Some of the competitors of GreenSole are:

    • Paaduks
    • Atoms
    • Neeman

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    GreenSole – Future Plans

    Greensole has plans to expand its business by collaborating with mainstream footwear and apparel brands to scale up the refurbishing of old shoes and soles. The company aims to increase its brand presence among its target audience and offer more sustainable footwear options. In addition, Greensole is focused on developing innovative technology to create biodegradable footwear, with the aim of reducing wastage.

    “We’re also looking to get more and more corporate companies to collaborate with and push them to donate close to a million pairs of shoes,” says Shriyans.

    Overall, the company’s future plans involve growing its sustainability efforts and developing new solutions to combat environmental issues.

    GreenSole – FAQs

    What is GreenSole?

    GreenSole is a unique startup that is making a significant impact in the field of social and environmental innovation by working in the area of sustainable footwear manufacturing and recycling.

    Who founded GreenSole?

    Shriyans Bhandari and Ramesh Dhami are the founders of GreenSole.

    Is GreenSole an Indian Startup?

    Yes, GreenSole is an Indian startup headquartered in Mumbai.

    When was GreenSole founded?

    GreenSole was founded in the year 2015.

  • TutorBin Success Story – A One-Stop Personalised Micro Tutoring solution

    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 TutorBin.

    The e-learning market has been growing at a rapid rate, and the pandemic played a crucial role in accelerating its growth. E-learning is gaining huge popularity because it allows students and professionals to learn at their own time and pace.

    With this increasing demand and popularity, many e-learning platforms are emerging with varied technologies, offering solutions for different learning needs. An amazing example of this is TutorBin, an online tutoring portal that is a one-stop solution to all your homework problems.

    The platform helps students with personalized tutoring and doubt-solving sessions and also ensures that its services are accessible and affordable for all students globally.

    In this article, learn more about TutorBin, its story, founders and team, business and revenue model, challenges, and more.

    TutorBin – Company Highlights

    Startup Name TutorBin
    Industry E-Learning Providers
    Headquarters Gurugram, Haryana
    Founded 2017
    Founders Parveen Lather, Vishal Kumar, Ankit Gahlawat
    Website tutorbin.com

    TutorBin – About
    TutorBin – Industry Details
    TutorBin – Founders and Team
    TutorBin – Startup Story
    TutorBin – Startup Launch
    TutorBin – Name and Logo
    TutorBin – Vision and Mission
    TutorBin – Products/Services
    TutorBin – Business and Revenue Model
    TutorBin – User Attraction and Retention Strategy
    TutorBin – Funding
    TutorBin – Challenges Faced
    TutorBin – Marketing Strategy
    TutorBin – Future Plans

    TutorBin – About

    TutorBin is an online tutoring portal founded in 2017. It is a one-stop solution for both students as well as online tutors. It hires skilled and knowledgeable tutors who are specialists in their respective fields.

    The platform acts as a bridge between students and tutors. On the one hand, it helps students to learn and clear their doubts from global subject matter experts and on the other hand, it provides online tutors with an opportunity to earn while sharing their knowledge.

    TutorBin – Industry Details

    In 2020, the worldwide e-learning market size was valued at $197.00 billion and will reach $840.11 billion by 2030, enlisting a CAGR of 17.5% from 2021 to 2030. E-learning gives different advantages to students, including low education costs and specialized course learning. The rise in remote learning during the pandemic and demand for minimal-expense, convenient learning frameworks positively influence the market’s growth. The rise of a few patterns, for example, microlearning, versatile learning, and portable or mobile learning is supposed to offer worthwhile chances to grow the market during the figure time frame.

    The e-learning market is portioned based on provider, deployment or organization model, course, end user, and region. By provider, it is partitioned into content and administration. By organization or deployment mode, it is ordered into cloud and on-premise. By course, it is partitioned into primary and secondary education, higher education, online certification and professional course, and test preparation. By end user, it is grouped into academic, corporate, and government.

    Academic, one of the sections dissected in the report, is projected to record a 10.2% CAGR and arrive at US$314 billion toward the finish of the examination time frame. Continuous content digitization endeavours in the academic area and the ascent in student enlistments for online courses on a part-time and full-time basis are helping support development in the academic section.

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    TutorBin – Founders and Team

    TutorBin was founded by Parveen Lather, Vishal Kumar, and Ankit Gahlawat.

    TutorBin Founders
    TutorBin Founders

    Parveen Lather, Chief Executive Officer (CEO)

    Tutorbin’s CEO, Praveen, is a passionate educator who manages the company’s finances, operations, and overall business leadership. Before founding Tutorbin, he tutored students in several countries. As a tutor, he developed a strong understanding of the importance of tutoring and the role it can play in transforming lives. He is an alumnus of the Indian Institute of Technology, Kharagpur, and has obtained his bachelor’s and master’s degrees in Geophysics.

    Vishal Kumar, ​Co-founder, Director and Chief Product Officer (CPO)

    Vishal has been with TutorBin ever since it was conceptualized. He is leading the technology, design, and product development at TutorBin. He has been the force behind highly-rated products, including mobile applications, libraries, calculators, repositories, and others. He has accomplished his B. Tech. from IIT Kharagpur.

    Ankit Gahlawat, ​Co-founder and Chief Marketing Officer (CMO)

    Ankit is accountable for the advertising and global growth of TutorBin; he has managed advertising and marketing campaigns and growth across the USA, UK, Canada, Australia, the Middle East, and different components of the world. He is a keynote speaker in essential enterprise activities in global education, ed-tech, and tutoring. He firmly believes that innovation is critical for growth. Under his leadership, TutorBin has been involved in strategic collaborations, influencer marketing, digital engagement, and revolutionary advertising activities. He has carried out his B. Tech. from IIT Kharagpur.

    TutorBin – Startup Story

    In his early days at IIT Kharagpur, Praveen used to tutor his friends studying in foreign universities. Soon, he got connected with more students studying abroad through Facebook groups. The quality of services provided resulted in a spike in the number of interested students. From this time, he identified the need for on-demand tutoring and ideated the concept of personalized academic help for students. He understood that the students didn’t require hours of tutoring or a complete course. They just wanted to clarify their doubts, which came up while studying and were interested in precise tutoring.

    While others were busy with the on-campus placements, Praveen and his two friends, Vishal and Ankit, were researching to solve this problem. At this moment, the number of interested students was steadily growing through references and word of mouth. Considering that the students have different requirements, the trio started mapping them with the appropriate tutors. Tutors loved the financial freedom, and students enjoyed the quality micro tutoring.

    Praveen adds, ‘We were doing the basics right. The next step was setting up various functions, processes, and departments to focus on each part individually. Moreover, we were curious, so we started reaching out to more startup founders, seeking their validation, gaining their insights and experience on our idea/working.’

    TutorBin – Startup Launch

    TutorBin Total Registered Tutors (2017-2022)
    TutorBin Total Registered Tutors (2017-2022)

    While learning at IIT KGP, the originators behind TutorBin were already providing customized tutoring services and doubt-solving sessions at odd hours to fellow students and students studying in western countries. In the interim, they began contacting groups through social media and associated with many students. That is the point at which they recognized the student’s concern. Students demanded micro tutoring and moment question tackling meetings. To provide a solution for these issues, they needed a mentoring force.

    In the beginning phase, they figured out that the most suitable tutors were the ones who were studying or preparing for competitive exams and needed financial independence. Founders mentioned, “Setting up an office in KGP was a decent choice to keep up with the accessibility of tutors, and it helped us a ton in developing our business.”

    This way, even before formally sending off TutorBin, they had a steady student and mentor base through networking. The following stage ahead for them was setting up various functions, processes, and departments to focus on each part individually. Their visit to Kharagpur in the last few years assisted them with setting up their coach base, which was no longer a worry. At last, they focused on additional administrations, items, and group building.

    TutorBin Logo
    TutorBin Logo

    At first, the organization was named “Snap Q/A,” which expressed that the students need to take a snap of their questions or queries and will get the necessary services and solutions liberated from plagiarism. Later, they modified the brand name to “TutorBin” to reflect the continuously expanding mentor base and the satisfaction they provide to their students. Not only did the mentor base grow in size, but the quality of tutors also improved and has continued to do so, ensuring that all students who approach TutorBin receive top-notch support.

    Additionally, the logo of their brand speaks for itself. It was designed keeping in mind the level of contentment they deliver. They want to convey the message and showcase their students’ satisfaction in their Learning Journey. Hence they designed the A+ logo.

    TutorBin – Vision and Mission

    With a problem-solving approach, TutorBin focuses on providing students with personalized tutoring and doubt-solving sessions. TutorBin ensures that the services are globally accessible and affordable for all students.

    Vision: As they say, “We strive to provide personalized micro-tutoring to the students around the globe while creating opportunities with good earning potential for the tutors.”

    TutorBin – Products/Services

    TutorBin Orders (2017-2022)
    TutorBin Orders (2017-2022)

    Initially, the core team at TutorBin started small by coaching their associates. Nonetheless, within a year, the core team realized they required a platform to resolve this issue on a more extensive scale. TutorBin arranged the accompanying items, website, and customized applications for both the students and the mentors. To facilitate the interaction between the mentors and the students, TutorBin developed products like Student Dashboard and Student CRM, which empower the students to transfer their requirements and the operations executives to attend to their requirements and map them with the experts with the help of the latter.

    Since TutorBin is a platform for students and mentors, it likewise fostered a Tutor Dashboard and a Tutor CRM, which empower the mentors to recognize the necessities, convey requests, and track their accuracy. SMEs use Tutor CRM to confirm the accuracy of requirements fulfilled by them before they deliver them to the students, while the Tutor Dashboard essentially assists the mentors with satisfying the prerequisites. Moreover, they broadened and set up additional services for students, including:

    • Online Homework Help
    • Online Assignment Help
    • Live Session
    • Video Solution
    • Essay Writing Help
    • Lab Report Writing Help
    • Project Report Writing Help
    • Speech Writing Services
    • Presentation Writing Services

    That is not all. TutorBin has an E-Library in which students can explore from more than 1.5L Question solutions. And that too in a freemium version.

    Five years down the path, TutorBin has a high-level site taking care of the requirements of both the mentors and the students. Likewise, at present, TutorBin offers over eight services and is anticipating integrating 1-1 live sessions for students, which will help the students in the following ways:

    • Tackle their doubts on a video call with the specialists.
    • It guarantees better clarity through the White Board Concept.
    • Face-to-Face interaction between the student and the mentor will enable better understanding.

    Also, TutorBin means to foster an Artificial Intelligence Calculator and an Audio Visual Library.

    • An AI Calculator will permit students to get solutions in a snap, regardless if the questions are in the form of a numerical equation or an equation of words/letters.
    • While the Audio Video Library will ensure that the question library turns out to be even more fascinating for the students, the Audio Video Library will allow students to understand the concepts better through visual representation.

    Apart from these valuable services for the students, TutorBin ensures that these services are easily accessible and affordable for students around the globe.

    TutorBin – Business and Revenue Model

    TutorBin is an ed-tech organization that is a common platform for students and tutors. TutorBin focuses on unravelling the problem for the students while providing a platform for tutors to generate income. In addition, TutorBin plans to be a one-stop solution for all the assistance that a student needs during their schooling venture.

    The revenue model of TutorBin is commission based. Students are not charged fixed costs for the services they receive. Be that as it may, the prices are determined by different boundaries like difficulty level, deadline, time consumed, etc. TutorBin ensures that the services are affordable and accessible for all students around the globe. Additionally, TutorBin has a flexible pricing model, i.e., the pricing of an order depends on the location and the type of students. In other words, they have different pricing techniques for different countries. This is to ensure that their services are affordable and accessible to all students around the globe.

    TutorBin – User Attraction and Retention Strategy

    TutorBin Total Registered Users (2017-2022)
    TutorBin Total Registered Users (2017-2022)

    Since the beginning, TutorBin has focused on delivering quality services. The primary technique TutorBin has applied to hold and draw in additional clients is fulfilling them with their quality of services.

    TutorBin – Funding

    TutorBin is still a bootstrap startup. However, it has been growing steadily through these years. They are currently looking to raise funding of $5M to Build a more strong and more groomed team of AI for their upcoming Projects of AI calculator that will be a Revolutionary step in the Industry.

    TutorBin – Challenges Faced

    TutorBin strives to satisfy its clients through the quality of services it delivers. The organization’s most challenging yet remunerating part had to be its global clientele. Their primary challenge was delivering satisfactory assignments to students studying in different countries. Since every country has its education system and evaluation framework, experts must provide it accordingly.

    However, the mentors were trained according to the different curriculums in different countries to overcome this challenge. Before long, the demand exceeded the supply, especially during the COVID period.

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    TutorBin – Marketing Strategy

    TutorBin has clientele from the USA, the UK, Canada, Australia, and the Gulf countries. To deliver satisfactory services to all its clients around the globe, TutorBin began by focusing on one country at a time and trained the tutors accordingly. The training resulted in customized solutions for students studying in different countries. Moreover, it increased the level of understanding between the tutors and the students, as the tutors efficiently understood the students’ necessities.

    TutorBin – Future Plans

    The originators started the company from scratch, and today it is growing steadily and has a stable student and tutor base. The tutors drawn in with the company are persistently growing with their opportunities. The students associated with TutorBin continue their journey until they complete their educational plan, conveying their fulfilment and faithfulness toward the company.

    Furthermore, TutorBin aspires to provide a one-stop solution for all its students. It plans to send off its subscription model, 1-1 live video tutoring sessions, and an AI-based calculator. Besides, TutorBin has proactively sent off its Question Library, which has various Q/An and intends to incorporate video content.

    FAQs

    What is TutorBin?

    TutorBin is a one-stop solution to all your homework problems. It focuses on providing students with personalized tutoring and doubt-solving sessions.

    Who started TutorBin?

    TutorBin was founded by alumni of IIT, Kharagpur Parveen Lather, Vishal Kumar, and Ankit Gahlawat.

    When was TutorBin founded?

    TutorBin was founded in the year 2017.

    What are the services offered by TutorBin?

    The prominent services offered by TutorBin include:

    • Online Homework Help
    • Online Assignment Help
    • Live Session
    • Video Solution
    • Essay Writing Help
    • Lab Report Writing Help
    • Project Report Writing Help
    • Speech Writing Services
    • Presentation Writing Services

  • SoFi – Enabling Easy Education Loan for Students

    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 the organization it is based on.

    As many of us are aware, attending college in America causes millions of students to believe that the only way they will be able to survive is by taking out student loans and leading a meager life for the rest of their adult lives. The price of education in the United States is excessive and sometimes out of reach.
    Mike and his Stanford pals made the decision to concentrate their efforts in this area. This is the issue that SoFi would aim to resolve more effectively than any other business.

    Financial services provider SoFi was established in 2011 and is now headquartered in San Francisco. The firm, which was first recognized for its work in student loan refinancing, has since broadened its range of products, including credit cards, mortgages, investment accounts, personal loans, and banking services.

    About Sofi
    SoFi – Industry
    SoFi – Founders, and Team
    SoFi – Startup Story
    SoFi – Name, Logo, and Tagline
    SoFi – Mission, and Vision Statement
    SoFi – Products
    SoFi – Business Model
    SoFi – Funding, and Investors
    SoFi – Investments
    SoFi – Acquisitions
    SoFi – Competitions
    SoFi – Challenges Faced
    SoFi – Future Plans

    About Sofi

    SoFi Technologies, Inc., sometimes known as SoFi, is an American online bank and personal finance startup. SoFi, a financial services company based in San Francisco, offers a variety of financial services via desktop and mobile apps, including student and vehicle loan borrowing, personal loans, mortgages, credit cards, investment, and banking.

    SoFi is a unique type of financial institution whose objective is to aid individuals in managing their money correctly. Its products are designed with the members in mind, giving them the resources they require to take charge of their financial destinies.

    Putting members first is the firm’s top priority, and it’s even one of its core values. The firm is viewed as successful if its people are successful. SoFi provides special member advantages at no cost as a result.

    SoFi – Industry

    The term “financial services” refers to the monetary services provided by the banking sector, which includes comprises like credit unions, financial institutions, individual asset managers, card companies, insurance providers, consumer finance firms, accounting firms, brokerage firms, investment funds, and some govt-sponsored entities.

    With a CAGR (Compound Annual Growth Rate) of 9.7%, the worldwide financial services market increased to $25,588.3 billion in 2022 from $23,319.52 billion in 2021. Though temporarily, the Russia-Ukraine conflict gave rise to the possibility of a COVID-19 pandemic-related global economic rebound. Economic sanctions, a rise in commodity prices, and disruptions in the supply chain as a result of the conflict between these two European nations have created an impact on several markets throughout the world. At a CAGR of 6.9%, the global financial services industry is anticipated to reach $33,358.77 billion by 2026.

    SoFi – Founders, and Team

    SoFi was founded by Daniel Macklin, Ian Brady, James Finnigan, and Michael Cagney in the year 2011.

    Ian Brady,Michael Cagney, James Finnigan & Daniel Macklin
    Ian Brady, Michael Cagney, James Finnigan & Daniel Macklin

    Daniel Macklin

    Dan Macklin, a.k.a. Mr. Macklin, is the Vice President of Community & Member Success at Social Finance, Inc., which he co-founded. Mr. Macklin oversaw product development and medium enterprise sales for Standard Chartered Bank in China and North-East Asia. In both London and Singapore, he held executive positions at Standard Chartered Bank in the CEO’s Office and corporate banking. Mr. Macklin graduated from Durham University in England with a B.A. in business economics. Additionally, he has an MBA from Stanford Graduate School of Business.

    Ian Brady

    Ian after co-founding SoFi joined Kensho Technologies as an advisor. He also co-founded and served as the CEO of AVA, which is a personalized nutrition platform leveraging artificial intelligence and nutrition science. He is currently the CEO of Hologram Sciences, which is a personalized biotech and health incubator backed by $100M in funding from Royal DSM. He pursued his MS in management from Standard University Graduate School of Business.

    James Finnian

    James Finnigan is the President and founder of Bernie’s Perfect Poop. James Finnigan has also held the position of co-founder at SoFi. His educational pursuits included an MBA from Stanford University Graduate School of Business and a BS in Electrical Engineering from Rice University.

    Michael Cagney

    Mike is the co-founder and CEO of Figure, where he oversees business development and strategy. Mike, who formerly held the positions of CEO, chairman, and co-founder of SoFi, brought a decade of expertise in the financial sector to his leadership of the organization.

    Some other team members of SoFi are :

    • Anthony Noto – CEO
    • Michelle Gill – Chief Financial Officer
    • Rob Lavet – General Counsel
    • Maria Renz – Executive Vice President Consumer Finance and Wealth Management
    • Richard Garside – Global Head of Operations
    • Darwin Ling – Investor
    • Greg Safran – Head of Strategic Partnerships
    • Michelle Gill – Executive Vice President Lending & Capital Markets

    SoFi – Startup Story

    Mike and three other fellow University students founded SoFi in 2011 because they believed there has to be a better way to pay for their university fees. Mike Cagney, Dan Macklin, James Finnigan, and Ian Brady, the founding members of SoFi, were following in the footsteps of pioneers.

    Ten years after its inception, the business reached this point after traveling down a path filled with extreme flips and turns, nearly collapsing totally after being shaken by charges of unethical behavior. Nevertheless, they have persevered through the difficulties to establish themselves as a market leader in the publicly listed sector.

    As many of us are aware, attending college in America causes millions of students to believe that the only way they will be able to survive is by taking out student loans and leading a meager life for the rest of their adult lives. The price of education in the United States is excessive and sometimes out of reach.
    Mike and his Stanford pals made the decision to concentrate their efforts in this area. This is the issue that SoFi would aim to resolve more effectively than any other business.

    Utilizing the network of alumni from their own institution, SoFi came up with a novel way for students to receive financial aid for their college education.

    Other peer-to-peer social lending options were accessible at the time, but SoFi concentrated on communities and gathered cash to be dispersed through college financial aid departments.

    SoFi was able to provide a fixed interest rate of 5.99% through this scheme, which was far less expensive than the interest rates on government student loans at the time, which were 6.8% on loans like Stafford loans. For students, this resulted in a more affordable, dependable system.

    On the other hand, the initial investors, the graduates, might anticipate a return of at least 5% annually. It was a win-win-win situation, like most good enterprises that address a need.

    SoFi stated in October 2013 that it had raised $500 million, which was available for the refinancing of student debts at 100 qualified institutions. These funds included credit lines from Bancorp and Morgan Stanley. By 2014, further investment rounds have allowed SoFi to diversify into personal loans and mortgage lending in more than 20 states.

    SoFi reported that it secured $4 billion in loans in 2015 after receiving a $1 billion investment from SoftBank. When SoFi reported in 2016 that it had 175,000 customers, or “members,” with a total loan volume of $12 billion, Moody’s assigned it a triple-A rating.

    SoFi had issues in 2017 and 2018, with the then-CEO Mike Cagney stepping down in the midst of accusations of sexual harassment and violating compliance standards. The Federal Trade Commission (FTC) accused SoFi of exaggerating how much money might be saved by refinancing student loans, but the business settled the complaint in 2018.

    With the Los Angeles Rams and Los Angeles Chargers of the NFL, SoFi signed a 20-year agreement to rename their stadium to SoFi Stadium. The next year, SoFi acquired the investing platform 8 Securities as well as the payments provider Galileo.

    SoFi – Name, Logo, and Tagline

    SoFi is a short term for “social finance,” which depicts it as a finance company aiming at solving social problems.

    SoFi’s  tagline says, “Bank, Borrow, and Invest—Get Your Money Right.”

    SoFi – Mission, and Vision Statement

    SoFi’s mission is to help people reach financial independence to realize their ambitions. And financial independence doesn’t just mean being rich—it means getting to a point where your money works for the life you want to live. Everything we do is geared toward helping our members get their money right.

    SoFi – Products

    SoFi’s product range includes:

    • Student Loan Refinancing
    • Medical/Dental Resident Refinancing
    • Parent PLUS Refinancing
    • Medical Professional Refinancing
    • Law and MBA Refinancing
    • Private Student Loans
    • Undergraduate Student Loans
    • Graduate Student Loans
    • Law School Loans
    • MBA Loans
    • Health Professions Loans
    • Parent Student Loans
    • Personal Loans
    • Credit Card Consolidation Loans
    • Home Improvement Loans
    • Family Planning Loans
    • Travel Loans
    • Wedding Loans
    • Mortgage Loans
    • Mortgage Refinance
    • Auto Loan Refinance
    • SoFi InvestÂź
    • IPO Investing
    • Crypto
    • Fractional Shares
    • Active Investing
    • Automated Investing
    • ETFs
    • SoFi Protect
    • Renters Insurance
    • Homeowners Insurance
    • Auto Insurance
    • Life Insurance
    • Cyber Insurance
    • Estate Planning
    • SoFi Credit Card
    • SoFi Checking and Savings
    • SoFi Insights
    • SoFi at Work
    • Small Business Financing

    SoFi – Business Model

    SoFi generates revenue in four key areas: Financial services, Lending, Technology, and Insurance.

    Financial Services

    Their range of financial services includes:

    • SoFi Invest: With the exception of cryptocurrency trades, SoFi Invest offers a $0 account minimum and no trading commissions. SoFi makes money by lending shares to other financial institutions whose clients want to short the market or cover their short positions, and it also receives payments from market makers for order flow services.
    • SoFi Money: Cash management accounts with no minimum balance requirement and no monthly fees that resemble checking and savings accounts; In addition to income on deposits, SoFi benefits from payment network fees on debit cards bearing the SoFi logo through a partnership with MasterCard.
    • ETF Management Fees: The SoFi Select 500 (SFY), SoFi Next 500 (SFYX), SoFi Social 50 (SFYF), SoFi Gig Economy (GIGE), and SoFi Weekly Income ETFs are among a group of ETFs that are subject to yearly management fees (TGIF).
    • Investing Automation: SoFi’s Robo adviser software develops and rebalances portfolios automatically. There are no administrative costs.

    Lending

    SoFi receives revenue from loans from:

    • Securitizations: Loans are bundled together in securitizations, which use their combined cash flows to pay tranches—collections of investors—in a predetermined order.
    • Net Interest Income: The difference between interest collected and interest paid to fund loans is known as net interest income, according to SoFi.
    • Whole Loan Sales: A group or pool of loans are sold to investors, like pension and insurance funds, who are willing to pay a premium upfront in exchange for future cash flows. Because SoFi’s borrowers hardly ever default, its loan bundles are regarded as being in very high security, which enables SoFi to charge higher than usual premiums.

    The absence of origination, inadequate money, and late fees in SoFi’s lending strategy is a significant plus. Private student loan payback durations from SoFi range from five to fifteen years while refinancing loan repayment lengths range from five to twenty years. On all of its refinancing and private loans, SoFi offers a grace period of six months.

    For undergraduate students and graduate or professional students, the current interest rate on federal student loans is roughly 4% and 5.5%, respectively. Private student loan interest rates for graduate and undergraduate students range from 2.99% to 12.99%, according to Bankrate.

    Technology

    Technology platforms used by SoFi include:

    • Apex Clearing offers custody and clearing services for investments.
    • Galileo provides services of digital banking, card issuance, payment processing, and business-to-business payments.

    Insurance

    • Term life insurance: As a result of its collaboration with Ladder, Sofi receives a marketing charge whenever one of its users applies for insurance.
    • Homeowners insurance: is provided in conjunction with Lemonade.
    • Auto insurance: Through their association with Root Insurance, they offer auto insurance.

    SoFi – Funding, and Investors

    Date Round Amount Lead Investors
    Jan 7, 2021 Venture Round $369.8M –
    Dec 25, 2020 Secondary Market – –
    Sep 20, 2019 Secondary Market – –
    Sep 1, 2019 Venture Round – –
    May 29, 2019 Venture Round $500M Qatar Investment Authority
    Jan 23, 2019 Venture Round – –
    Jun 8, 2018 Secondary Market – –
    Nov 14, 2017 Secondary Market – –
    Feb 24, 2017 Series F $500M Silver Lake
    Sep 30, 2015 Series E $1B SoftBank

    SoFi – Investments

    Date Organization Name Round Amount
    Apr 13, 2021 Wage Seed Round $5M
    Jul 27, 2020 Indigo Diabetes Series B €38M
    Jun 6, 2019 Partake Foods Seed Round $1M
    Feb 13, 2018 BlockFi Seed Round $1.6M
    Dec 20, 2016 Indigo Diabetes Series A €7M
    Jan 21, 2016 PieSync Venture Round $1.6M
    Aug 6, 2015 CoScale Venture Round €2M
    Apr 1, 2015 neoScores Series A €2M
    Mar 10, 2015 GlobalYeast Series A $6.8M
    Jul 17, 2014 Porphyrio Series A €850K

    SoFi – Acquisitions

    Acquiree Name About Acquiree Date Amount
    Technisys Technisys offers digital banking technologies for the financial services industry. Feb 22, 2022 $1.1B
    Golden Pacific Bancorp Golden Pacific Bancorp is a bank holding company for Golden Pacific Bank Company. Mar 9, 2021 $22.3M
    8 Securities 8 Securities offered mobile-only investing, a robo-advisory service, a social trading platform, and zero-commission brokerage. Apr 21, 2020 –
    Galileo Financial Technologies Galileo is a payment processing platform offering neobanking, card issuing, and B2B fintech solutions. Apr 7, 2020 $1.2B
    Lantern Credit Lantern Credit, LLC is a financial technology company working to solve systemic inefficiencies in the consumer credit market. Apr 1, 2019 –
    Zenbanx Zenbanx is a financial technology company that created a mobile multi-currency account for people who live, work, or travel across borders. Feb 1, 2017 $100M

    SoFi – Competitions

    The top 10 competitors of SoFi are:

    • TurnKey Lender
    • Sageworks Lending
    • Finflux
    • FIS Commercial Lending Suite
    • Calyx PointCentral
    • LoanPro
    • Centrex Software
    • FIS Loan Management System.

    SoFi – Challenges Faced

    In November, shares of financial technology company SoFi Technologies (SOFI 0.44%) fell 10% in value. This year, the company has had a lot of issues relating to the down economy, which were represented in the third-quarter results report, which was announced on Nov. 1.

    The company’s net loss more than doubled from $30 million last year to $74 million this year, and its deeper entrance into banking means it is more vulnerable to loan defaults. SoFi benefited from higher interest rates in the third quarter, with an increase in net interest income on loans, and loan volume climbed as well.

    However, it is hampered by the government’s extension of the student loan moratorium until June 2023. That implies SoFi’s bread and butter will continue to take major damage long into 2023. The volume of student loans fell by more than half in the third quarter. Rising interest rates are also having an impact on the housing market, which had an impact on SoFi’s loan book in the third quarter. The number of home loans fell 73% from the previous year.

    SoFi – Future Plans

    • Expansion into new markets: SoFi has the chance to broaden its business operations into other geographic areas, which can boost its clientele and revenue.
    • Leveraging its reputation and brand: SoFi has developed a solid reputation in the financial services sector, and the company may use this to entice new clients and business partners.
    • Utilizing data and technology: SoFi has access to many client data and could employ cutting-edge analytics and machine learning to enhance its products and services and provide customers with a more individualized experience.
    • Acquisitions: SoFi might pursue acquisitions to gain access to additional clients, resources, and experience while accelerating its growth.

    Over 1.5 million people are currently SoFi subscribers in the United States and Canada. The company has 10 locations across North America and more than 1,500 employees. Recently, SoFi’s stock has fallen because of the suspension of student loan repayments, but previous performance is no guarantee of future outcomes.

    FAQs

    What does SoFi stand for?

    SoFi stands for Social Finance.

    Is SoFi a Bank?

    SoFi offers its banking services through SoFi Bank N.A.

    Who is the CEO of SoFi?

    Anthony Noto is the CEO of SoFi.

  • Rising to the Top: The Incredible Journey of C&S Wholesale Grocers

    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 C&S Wholesale Grocers.

    In the fast-paced life we live, completing even the basics of jobs becomes rather challenging. Grocery shopping is a job that we need to make time for. Fortunately, with the boost of the retail industry, finding a reliable grocery outlet is no longer a tough task.

    C&S Wholesale Grocers is a grocery supply chain that operates in the US. The company services nearly 7700 supermarkets, independent chains, and military bases. As per Forbes, in 2021, the company was the eighth-largest privately held company in the United States.

    Dealing with various products, the company has crossed all hurdles to achieve success. Let us have a look at C&S Wholesale Grocers and their journey so far.

    C&S Wholesale Grocers – Company Highlights

    Company Name C&S Wholesale Grocers
    Headquarters Keene, New Hampshire
    Sector Grocery wholesale and distribution
    Founder Abraham Seigel and Israel Cohen
    Founded 1918
    Revenue $30 Billion (2021)
    Employees 17,000+ (2017)
    Website www.cswg.com

    C&S Wholesale Grocers – About
    C&S Wholesale Grocers – Industry
    C&S Wholesale Grocers – Founders and Team
    C&S Wholesale Grocers – Startup Story
    C&S Wholesale Grocers – Mission and Vision
    C&S Wholesale Grocers – Name, Tagline, and Logo
    C&S Wholesale Grocers – Business Model
    C&S Wholesale Grocers – Revenue Model
    C&S Wholesale Grocers- Employees
    C&S Wholesale Grocers – Challenges Faced
    C&S Wholesale Grocers – Funding and Investors
    C&S Wholesale Grocers – Mergers and Acquisitions
    C&S Wholesale Grocers – Growth
    C&S Wholesale Grocers – Advertisements and Social Media Campaigns
    C&S Wholesale Grocers – Awards and Achievements
    C&S Wholesale Grocers – Competitors
    C&S Wholesale Grocers – Future Plans

    C&S Wholesale Grocers – About

    Based in Keene, New Hampshire, C&S Wholesale Grocers is a wholesale grocery supply service. The company was set up as a small grocery store in 1918. C&S Wholesale Grocers is considered the leader in supply chain management.

    The company offers services to other supermarkets, independent stores, etc. in the form of wholesale procurement, pricing, marketing, category management, merchandising, advertising, business, accounting, engineering, and store design.

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    C&S Wholesale Grocers – Industry

    C&S Wholesale Grocers operates in the Grocery wholesaling industry. As per the data shared by Marketresearch, the global wholesale market was wroth around $45672.6 billion in 2022.

    As opposed to other industries, the Grocery wholesaling industry has shown slower growth. Between 2018-2023 the sector rose by 1.1%. The industry is affected by the number of households. The more the number the higher would be the sales of the industry.

    C&S Wholesale Grocers – Founders and Team

    C&S Wholesale Grocers was launched in 1918 by Abraham Seigel and Israel Cohen in Worcester, Mass. At that time, it was set up as an independent grocery provider.

    Abraham Seigel

    Abraham Seigel and Israel Cohen joined hands to fulfill the latter’s desire to have a wholesale supply of their own. They set up a 5000 sq. ft. Three-story Worcester warehouse that dealt in 1200 grocery products.

    Israel Cohen

    Israel Cohen with his family
    Israel Cohen with his family

    Israel Cohen was the founder of the C&S Wholesale Grocers company. He started his career in the wholesale grocery industry in the early 1900s. When working in Worcester for $25 per week, he thought he could make more profit.

    C&S Wholesale Grocers – Startup Story

    One of the company’s owners Israel Cohen was dissatisfied with the $25 per week he was earning in a supermarket. He decided to launch a wholesale delivery system of his own. Along with his companion Abraham Siegel, he set up C&S Wholesale Grocers in 1918. The company’s name was taken from the founders’ surname alphabet.

    They set up a 5000 sq. ft. warehouse where 3 workers managed the delivery of around 1200 products. The need to have a well-defined distribution system became more evident with the rise in population.

    Israel Cohen realized that their customer’s opinions held the most importance. While other distributors stocked the products as per their wishes, C&S Wholesale Grocers talked to the customers and kept their opinions in mind. This increased the company’s reputation among customers giving them a solid footing in the industry.

    C&S Wholesale Grocers – Mission and Vision

    C&S Wholesale Grocers’ vision statement is as has been mentioned below:

    • We work as one team.
    • Every person matters.
    • We’re tenacious in fulfilling our commitments.
    • We challenge the status quo.
    • We continuously make our work environment and communities better.

    The company aims to take its customer’s opinions rather seriously. Their mission statement is as follows:

    “Our mission is to consistently deliver the very best service and value to our customers..”

    The term C&S from the company name “C&S Wholesale Grocers” is taken from the initials of the founder’s surname, Abraham Siegel and Israel Cohen.

    C&S Wholesale Grocers uses a unique red and white logo to promote its brand. In the logo, both C and S seem intertwined with each other. The logo signifies the synchronization of the customer’s needs with the company’s mission to deliver quality groceries on time.

    C&S Wholesale Grocers – Business Model

    C&S Wholesale Grocers Website
    C&S Wholesale Grocers Website

    C&S Wholesale Grocers is a company that deals in wholesale grocery distribution to supermarkets, grocery stores, chain stores, military institutions, etc. They supply various products, including fresh produce, meat, dairy products, seafood, health, beauty products, general merchandise, etc. Some stores that the company provides products to include names like Stop & Shop, Giant of Landover, Giant of Carlisle, Pure Harmony, Safeway, and Target.

    Apart from the above, the company also has its own brands that it owns and licenses. These include Best Yet, Piggly Wiggly, Tippy Toes, and Exceptional value. The other services the company provides are wholesale procurement, category management, pricing, marketing, advertising, etc.

    C&S Wholesale Grocers moved into retail operations after it acquired Grand Union Supermarket chain in 2001. Post that, they merged with many other stores only to sell them further.

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    C&S Wholesale Grocers – Revenue Model

    The revenue for C&S Wholesale Grocers was $30 Billion in the last quarter. The company has 17,000 employees. This makes it an average revenue of $17,64,705.

    C&S Wholesale Grocers- Employees

    Apart from offering competitive salaries, the company offers multiple benefits to its employees. Benefits like comprehensive medical plans, flexibility in choosing a dental plan, savings on basic eye care costs, paid vacations, retirement plans, tuition assistance, adoption assistance, employee perk, discounts, etc are provided by them.

    C&S Wholesale Grocers – Challenges Faced

    C&S Wholesale Grocers faced many issues post their association with A&P supermarkets. The deal was to provide them with groceries during the winter holidays. However, the company was not prepared to handle the bulk of the work. The issue was that the time to complete the order was limited.

    The company needed to increase its productivity and number of employees to rise up to the challenge. Apart from that, they have to deal with increased fuel prices. Their work involves transportation, and if fuel costs rise, it impacts the margins of operations.

    Severe weather is another problem that C&S Wholesale Grocers has to deal with. Flooding roads, transit systems, railways, etc., impact the transportation of goods. As they cannot modify the weather, they would have to boost the algorithms that trace the weather changes and locate warehouses that can be affected.

    C&S Wholesale Grocers – Funding and Investors

    The company received a grant investment from New York State on 2nd May 2014. The amount was greater than $ 5 million, which was a massive break for C&S Wholesale Grocers.

    C&S Wholesale Grocers – Mergers and Acquisitions

    Some companies that C&S Wholesale Grocers has merged with are shared below.

    Acquiree name Money Year of announcement
    Olean Wholesale Grocery Operative Inc – 2018
    The Grocers supply company – 2014
    Piggly Wiggly Carolina Co – 2014
    BI-LO – 2005
    Grand Union – 2001

    C&S Wholesale Grocers – Growth

    C&S Wholesale Grocers has progressed in the form of expanding its network. They have around 7700 supermarket stores in 2021, rising from 7500 in the 2020 year. The revenue increased from $25 Billion to $30 Billion in 2021. This was commendable in a competitive industry like grocery wholesale.

    C&S Wholesale Grocers – Advertisements and Social Media Campaigns

    C&S Wholesale Grocers has not ventured into creating any new commercials of late. However, in 2019, they released a series of ads that showcased the company as an ideal workplace.

    Each commercial showed the company as a family-oriented warehouse. There were testimonials from the existing employees that showcased the company’s unique workplace policies.

    C&S Wholesale Grocers – Awards and Achievements

    Some awards received by the company are:

    • Seven Seals Award in 2012 from the Department of DĂ©fense and New Hampshire Committee for Employer Support of the Guard and Reserve.
    • In 2010 C&S Wholesale Grocers was named the Business of the year by the Keene Chamber of Commerce.
    • The Food Marketing Institute awarded them the Wholesaler Innovator of the year, Feeding America’s Grocery Distributor of the year, and the national Neighbourhood Partnership award the same year.

    C&S Wholesale Grocers – Competitors

    C&S Wholesale Grocers has established itself in the Wholesale grocery market. Its competitors are:

    • Giant Eagle
    • Spartan Nash
    • Imperial Distributors
    • Kehe Distributors
    • Winn Dixie stores Inc
    • United Natural Foods
    • Mc Lane Company
    • US Foods
    • Sysco

    C&S Wholesale Grocers – Future Plans

    C&S Wholesale Grocers has always tried to make the process of distribution simple. It aims to increase transparency and flexibility in its supply chain processes.

    The company has deployed a unified supply chain and planning technology from partner Relex Solutions. By doing it, the company aims to enhance the customer experience and focus on high growth.

    In the future, C&S Wholesale Grocers wants to incorporate technology to transform the company’s operations. With AI and Machine learning, the company intends to use its operation platform to monitor traffic and identify suitable distribution routes.

    FAQs

    Who is the current CEO of C&S Wholesale Grocers?

    The current CEO of C&S Wholesale Grocers is Mike Duffy. He took over the reins in 1989.

    Which industry does C&S Wholesale Grocers operate in?

    C&S Wholesale Grocers operates in the Grocery Wholesale industry.

    What are some of the other brands that C&S Wholesale Grocers has?

    C&S Wholesale Grocers has Best Yet, Piggly Wiggly, Tippy Toes, and Exceptional value brands.

    Who are the founders of C&S Wholesale Grocers?

    C&S Wholesale Grocers was founded by Israel Cohen and Abraham Seigel in 1918.

    What are some competitors of C&S Wholesale Grocers?

    Some competitors of C&S Wholesale Grocers are Giant Eagle, Spartan Nash, Winn Dixie, and Imperial distributors.

  • Building a Grocery Empire: The Success Story of H-E-B Grocery Company

    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 H-E-B Grocery Company.

    The retail industry in the world is booming. The need to find all grocery purchases in one place has led to many brands successfully setting up their own supermarket chains. Despite the competition, these small-time stores have become fairly well-established.

    H-E-B is an American supermarket chain that started its business in Texas. Currently, the chain has more than 340 stores established across Texas and Mexico. The company has also floated an organic food retailer chain named Central Market.

    Read on with us to learn more about H-E-B and their journey to success.

    H-E-B – Company Highlights

    Company Name H-E-B Grocery Company
    Headquarters San Antonio, Texas
    Sector Retail
    Founder Florence Butt
    Founded 26th November 1905
    Valuation $17 Billion (2022)
    Revenue $38 Billion (2022)
    Formerly Known As C.C Butt Grocery Store

    H-E-B – About
    H-E-B – Industry
    H-E-B – Founders and Team
    H-E-B – Startup Story
    H-E-B – Mission and Vision
    H-E-B – Name, Tagline, and Logo
    H-E-B – Business Model
    H-E-B – Revenue Model
    H-E-B – Employees
    H-E-B – Challenges Faced
    H-E-B – Mergers and Acquisitions
    H-E-B – Growth
    H-E-B – Advertisements and Social Media Campaigns
    H-E-B – Awards and Achievements
    H-E-B – Competitors
    H-E-B – Future Plans

    H-E-B – About

    H-E-B is a food and grocery retail store chain. It operates most of its stores in Texas and Mexico region. Despite this, the company enjoys good sales and a strong customer base. H-E-B was established in 1905 by a woman named Florence Butt.

    H-E-B creates some of its own products, like ice cream, milk, snacks, and ready-to-cooked meats. The company has established itself rather strongly in Texas holding almost 55% of the market share. Its most important markets are San Antonio, Laredo, Austin, and Houston.

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    H-E-B – Grocery Retail Industry

    H-E-B operates in the Grocery retail industry. The market size of this industry is around $818.6 Billion. Though competitive, the industry is expected to grow at 0.9% this year.

    Since the last five years, the industry has maintained a growth rate of 2.7%. The grocery and supermarket industry in the U.S. is at the third rank on the basis of market size and overall at the fourteenth rank.

    H-E-B – Founders and Team

    H-E-B was launched as a grocery store called CC Butt Grocery store in 1905. Florence Butt set up the store in her home in Kerrville, Texas.

    Florence Butt

    Florence Butt - Founder of H-E-B
    Florence Butt – Founder of H-E-B

    Florence Butt opened the CC Butt Grocery store. She was born in Buena Vista, Mississippi, in 1864. She was the only girl in her class when she completed her graduation. After that, she married Clarence C Butt and moved to Kerrville, Texas.

    Since her husband was unable to work, Florence accumulated a few groceries. With 60$ she opened a Grocery store. Her two sons acted as Delivery boys while she oversaw the daily operations. In 1919 her son Howard Butt returned from the Navy, and Florence handed the store to him.

    H-E-B – Startup Story

    The CC Butt Grocery store was initially set up to run household expenses. After Florence’s son returned from the Navy, she handed over the store to him. Howard Edward Butt set up four other stores in Central Texas, none of which succeeded.

    In 1927 Howard bought three stores in Del Rio, Texas. He named the store after his initials, i.e., H.E.B. In 1971, Charles, the son of Howard, became the company’s President. With his efforts, he moved the company from annual sales of $250 million in 1971 to $13 billion in 2006.

    H-E-B – Mission and Vision

    The vision statement for H-E-B is as follows:

    “Here, everyone belongs.”

    The company’s mission statement aims to boost local farmers’ efforts. They also aim to develop and execute social efforts benefitting the populace, customers, and employees. The mission statement of H-E-B is as follows :

    “We’re in the people business. We happen to sell groceries.”

    The company has maintained three taglines. It constantly strives to achieve what the taglines advocate:

    • Here Everything’s Better
    • Healthy Food at H-E-B
    • Helping here

    H-E-B has been consistent with its brand image. The logo for the same is a horizontal badge with rounded edges. This ellipsoid has a double frame, and the main area has been done in a bright red and white palette. The color combination depicts professionalism, strength, and progressiveness.

    The primary version of this logo is a red badge with a white H E B inscription. It follows an extra bold sans-serif font. In the secondary version, the white badge is projected on a red background.

    H-E-B – Business Model

    H-E-B Website
    H-E-B Website

    H-E-B’s key resources are product inventory, supply chain and logistics, store network, and the employees who work hard. Its success is also dependent on its sub-brands which include the names like Central Market, H.E.B. Plus, Mi Tienda, Jow V’s Smart Shop, IT and communications infrastructure, etc.

    The partners with which the company works can be divided into the categories like vendor and supplier partners, storage and distribution partners, branding and marketing partners, community partners, and strategic and alliance partners.

    H-E-B partnered with Instakart and the Animal Defense League of Texas in the past few years. The company has various product ranges, including fruits, dairy products, frozen items, baby and toy, pet and outdoor, kitchen, office, school, etc.

    H-E-B – Revenue Model

    As per reports, H-E-B Grocery Companie’s revenue is $21 Billion annually in 2021. The company has around 47K employees and adds to the employee count by 7% yearly. The estimated revenue per employee is around $178,946.

    H-E-B – Employees

    H-E-B focuses on giving its employees the rest and breaks they require. Apart from providing a competitive salary, the company offers the benefits like dental and health insurance, disability insurance, adoption assistance, family medical leave, flexible work schedule, parental leaves, relocation assistance, performance bonus, etc.

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    H-E-B – Challenges Faced

    H-E-B was initially one of the few supermarket chains in the Texas area. That is the prime reason they were able to make it big. However, in the last few years, Walmart went into an expansion spree, increasing its store count from 253 to 372. That led to a downfall in the customer base as many of them shifted to Walmart due to reduced prices.

    After the Pandemic, H-E-B had to face labor issues. Not many of them were willing to come back to work despite the company offering a competitive wage of $15 per hour. They were more interested in restaurant jobs than the ones offered by supermarkets.

    Lastly, E-commerce has cut a significant portion of the grocery market. Companies like Amazon are setting new customer experience parameters, and it is hard for H-E-B to match up. Though the company uses its website to garner sales, it would take time before it becomes hugely successful.

    H-E-B – Mergers and Acquisitions

    H-E-B acquired the below-mentioned company in 2018:

    Acquiree name Money Date of announcement
    Favor Undisclosed 15th February 2018

    For 113 years, H-E-B never merged or acquired any company. In 2018 they acquired Favor which was an on-demand delivery outfit. It helped H-E-B simplify its delivery process for items ordered from the website.

    H-E-B – Growth

    2022 was a challenging year as inflation led to people cutting their spending. Yet H-E-B showed a hike of 12% in the average consumer transaction value. This was high than all the other supermarket chains operating. Apart from that, the average spending for H-E-B was at $64, again the highest.

    H-E-B – Advertisements and Social Media Campaigns

    In their latest commercial, H-E-B reinforces the concept of taking care of the consumers. They are propagating how the company is offering the best quality services, so everyone is taken care of.

    From health prescriptions to immunizations, the ad shows how H-E-B is striving to take care of Texans. Have a look at the commercial here:

    H-E-B – Awards and Achievements

    A few awards H-E-B has won over the years are:

    • Grocery Dive named H-E-B as the Grocer of the year for 2020 for their response to the Pandemic.
    • In the BrandSpark Most Trusted Awards, H-E-B is most trusted for offering high-quality products.
    • BrandSpark Most Trusted Awards also showed H-E-B to have the highest trust score among most competitors.
    • H-E-B won the Gold Shorty award for their Holiday Even Brighter campaign that they ran in 2021.

    H-E-B – Competitors

    Some of H-E-B Grocery Companie’s competitors are:

    • Hannaford Supermarkets
    • Safeway
    • The Fresh Market
    • Publix
    • Whole Foods Market
    • Winn-Dixie
    • Walmart
    • Costco
    • Trader Joe’s
    • Amazon

    H-E-B – Future Plans

    In 2022, H-E-B established 5 new stores in Texas and areas around it. Apart from that, H-E-B have entered the Wellness primary care clinic segment. The company plans to add frozen capabilities to its stores in Temple, Texas. This project alone would grow their facility footprint by 325,000 square feet.

    The company is also venturing into adding home goods with food items in its stores. They have already done so in their New Braunfels, Texas store. This section is named Home by H-E-B and would include items like throw pillows, candles, home décor, textiles, etc. In the future, they would also add the feature to other stores.

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    FAQs

    What does H-E-B stand for?

    H-E-B stands for Howard Edward Butt. He was the son of the H-E-B store founder named Florence Butt.

    What kind of stores does H-E-B offer?

    H-E-B offers a variety of stores like Central Market, H.E.B. Plus, Mi Tienda, and Joe V’s Smart Shop.

    What is H-E-B best known for?

    H-E-B is popular for multiple reasons. One of the prime reasons is its creativity in classic snacks such as apple pie-flavored potato chips. It is also known for its Café Ole brand, house-made frozen pizzas, cheese puffs, etc.

    Who is the founder of H-E-B Grocery Company?

    H-E-B Grocery Company was started by a woman named Florence Butt in 1905 as the CC Butt Grocery store.

  • Muoro.io – Building Remote Engineering Teams

    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 Muoro.

    The search for good engineering talent from a thousand applications might seem like a tiring task. And to deal with such an issue, Muoro.io introduced itself as EaaS (Engineer as a service) provider in 2019.

    They allow the creation of remote engineering teams for tech and tech-enabled companies. Let’s take a detailed look at their journey so far including the aspects like startup story, business model, challenges faced, etc.

    Muoro – Company Highlights

    Startup Name Muoro
    Headquarters Delhi, India
    Industry IT Staff Augmentation, Tech Outsourcing, Engineer as a Service
    Founders Vyom Bhardwaj
    Founded 2018
    Website www.muoro.io

    Muoro – About
    Muoro – Industry
    Muoro – Founders and Team
    Muoro – Startup Story
    Muoro – Mission and Vision
    Muoro – Name, Tagline, and Logo
    Muoro – Business Model
    Muoro – Products and Services
    Muoro – Growth
    Muoro – Challenges Faced
    Muoro – Competitors
    Muoro – Future Plans

    Muoro – About

    Muoro.io works to provide an engineering workforce to businesses as per their requirements. They also strive to get businesses to find elite engineering talent at competitive prices.

    The firm has a pre-vetted pool of software engineers that are well-trained with domain expertise and proprietary technology. They allow easy hiring for remote distributed engineers or offshore developers for businesses looking for similar options.

    Addressing the problem of shortage of skills, the company provides skilled engineers from all around the globe. Working with a total of about 1000 engineers, India has engineers from tier 2 tier 3 cities and towns. Eighty percent of the company’s current engineering workforce is based out of India and the remaining 20% is from developing countries in Africa Asia and Eastern Europe.

    Muoro – Industry

    Muoro.io works in the Tech outsourcing and remote IT staff augmentation industry. The tech outsourcing industry involves the practice of using service providers to deliver services falling under the category of technology. In 2019, the global outsourcing company was estimated to be worth around $92.5 billion.

    Staff augmentation is a solution to onboard skills required by a company through outsourcing. The TAM for the staff augmentation industry in 2022 was around $137 Billion and for Tech outsourcing, it was estimated to be around $587 Billion.

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    Muoro – Founders and Team

    Muoro.io was founded by Vyom Bhardwaj in 2018
    Muoro.io was founded by Vyom Bhardwaj in 2018

    Vyom Bhardwaj

    Vyom Bhardwaj has studied economics at McGill University Canada. He works as a director at Muoro. Apart from Muoro, Vyom has also founded an IT service-providing company named VRentin Tech in 2015.

    Muoro Team

    The Muoro company size is 150+ employees including contractors. Muoro plans to recruit more engineers from developing nations like Nigeria, Kenya, Belarus, etc.  It aims to give engineers from developing and underdeveloped nations the opportunity to work with global companies and get international exposure.

    The company plans on picking up these engineers and providing them with a pay scale according to the industry’s progress and growing them internationally.

    Muoro – Startup Story

    The founder of Muoro always had the desire to enter the VC world owning to his identity as an economics student.  However, after having a short instinct at IVCA (Indian Venture Capital and Private Equity Association) about the VC funds pouring tons of money into tech companies around the year 2014-2015.

    With this learning, he decided to take a small break and learn to code. In the meantime, he founded his first company named VRentin Tech. Vrentin was a similar platform like IndiaMart focusing on equipment rentals and listing.

    Well, the outcome was not in line with the planning, however, Vyom kept hustling and started offering the BI system to MSME in retail, finance and manufacturing. It was an in-house product developed for an internal purpose which was sold in 2018.

    With all the experiences, he realized that the real issue with the companies was that they didn’t have the right teams to develop technology products, and on contrary, it was also not an easy task to hire top-quality talent.

    With this realization, he decided to build products from a remote team and help companies to set up their remote teams in the development and gain their desired results

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    Muoro – Mission and Vision

    The core belief and long-term vision of Muoro are:

    “Building Muoro a brand through which we are able to build a database of the top 1% of the engineers globally to work from anywhere with top-notch brands and on tech products. We want engineers from tier 2 cities and developing nations to work with great brands through our model provided they possess strong technical skill sets. This way they will be able to stay in their native and earn as per global standards. Also, we want companies to trust Muoro as their go-to remote team-building partner and escape the talent war by hiring engineers globally and not just in their zip code.”

    The short-term vision on which Muoro plans to work for the next 1 year is :

    Building new niche technology practices, making sure the talent or workforce which is getting laid off due to slowdown gets absorbed at  Muoro and we are able to get them deployed through us on global projects remotely, working intensively on our internal technology tools to match the great talent on the ongoing projects of our partners and customers.

    The tagline is “Building Remote Software Engineering Teams”.

    The logo of Muoro consists of the letter “M” with three triangles of different colors. The inspiration for having a multi-color logo came from the logos of Zoho, Microsoft, Google, etc.

    Muoro – Business Model

    Muoro is basically a service-providing platform that works on an arbitrage model. They get their paychecks from the clients which are later on distributed to the employees in the form of salary and fees.

    Muoro – Products and Services

    Muoro.io is known to provide and build internal tech products that are powered with the latest tech stacks and use AI to match the best of the engineers in the Muoro talent pool.

    It helps them with their current projects and roles at hand. It is one of the leading tools through which the Muoro.io team can deploy the engineers within 3 days/72 hours on client projects.

    Subsidiary

    Vrentin tech Pvt ltd. The company offers the services of software engineers specializing in technology such as Data Engineering, Cloud, UI, Salesforce, AEM, and AI.

    Process

    The AI sorts out the profiles of the engineers that Muoro has on their talent bank to find the best match. They then provide the companies with 2-3 best-suited profiles, and then they are free to interview and select the candidate that best suits them.

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    Muoro – Growth

    Muoro uses multiple ways to get clients. They use Personal networks, affiliate channels, and community building to scale up their business combined with the quality of their services and the software engineering knowledge to build up the name in the competition.

    Muoro has deployed its engineers to over 50 companies across the globe including known companies including Microsoft, Nike, Pinelabs, KPMG, Kroger, etc.

    Startup companies backed by Sequoia Capital, Accel, Qualcomm, and Y-comb and enterprises such as Nike, Sabre Travel, Microsoft, Tesco, and Verizon hire engineers through Muoro on a regular basis both directly and indirectly through partner networks.

    Additionally, hiring engineers with Muoro.io saves an average of 100+ hours and $2000 for each hire which is a plus point for them all.

    Muoro – Challenges Faced

    Muoro Website
    Muoro Website

    The challenging part for the Muoro team was to convince enterprise-level clients and overseas companies to outsource the engineering staff augmentation from a small company.

    Since the overall budget of such technology projects is more than $1 million, and to abide by their requirements and overcome this challenge, Muoro decided to provide quality engineers to them. They also worked on compliance with updated policies in order to gain the customer’s trust.

    Muoro – Competitors

    Some of the competitors having similar model super sourcing in India are Turing, Toptal, Crossover, and Gun.io.

    Some other competitors from the international market are Arc.dev, Freelancer.com, and Andela.

    Muoro – Future Plans

    • With over 3 million workers the economy of the gig sector is on a rise. According to ASSOCHAM, India’s gig sector is likely to grow to $455 billion by 2024. The company said it had a revenue of Rs 15 crore last year and is looking to build on it this year.
    • Among its future plans is geographical expansion by recruiting engineers from South Africa, the Middle East, and Southeast Asia to build a global tech talent pool.
    • Muoro also has a separate entity in the US where it is planning to build its sales and operation team to build a larger client base in North America.

    FAQs

    Who founded Muoro.io?

    Muoro.io was founded by Vyom Bhardwaj in 2018.

    What is the market size of IT outsourcing?

    The global IT outsourcing market was valued at $556.67 billion in 2020.

    Who are the biggest competitors of Muoro.io?

    Some of the biggest Muoro.io competitors are Toptal, Freelancer.com, Turing, etc.