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  • How Pandemic Contributed to the Success of Zoom Video Communications?

    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 Zoom.

    The global video conferencing market size is expected to reach USD 10.92 billion by 2027, exhibiting a CAGR of 9.7% during the forecast period. Zoom Video Communications, Inc. incorporated on April 04, 2011, is a provider of video-first communication platform and Web conferencing services. In recent times, Zoom became a global phenomenon as businesses had to revert to working from home.

    The Company offers cloud-native platform, which unifies cloud video conferencing, online meetings, group messaging and a software-based conference room system, which enables users to easily experience Zoom Meetings in their physical meeting spaces.

    With the coronavirus pandemic hitting the whole world at large, face-to-face business activities had to take a plunge. That’s when this company became a savior for every online meeting that took place. We are talking about the Zoom cloud meeting which was founded by Eric S. Yuan in 2011.

    Zoom is an American company offering remote conferencing services. It is headquartered in San Jose, California. Zoom also has offices in Europe, Asia, and Australia. It primarily provides a remote conferencing service that combines other tertiary services like video conferencing, online meetings, chat, and mobile collaboration to facilitate conducting business virtually. It is one of the online meeting platforms which paved its way for success.

    Zoom success during pandemic was unexpected and it was a turning point in their organization. Read on to know more about the Zoom success story below.

    Zoom – Company Highlights

    Startup Name Zoom
    Headquarters San Jose, California, United States
    Industry Video Communication and Conferencing
    Founder Eric Yuan
    Founded 2011
    Total Funding Raised $276 Million
    Parent Organization Zoom Video Communications, Inc.

    Zoom – About
    Zoom – Impact of COVID19
    Zoom – Founder
    Zoom – Startup Story
    Zoom – Customer Acquisition
    Zoom – Mission
    Zoom – Business Model
    Zoom – Mergers and Acquisitions
    Zoom – Funding and Investors
    Zoom – Valuation
    Zoom – Competitors
    Zoom – Challenges Faced
    Zoom – Future Plans

    Zoom – About

    Zoom Video Communications, Inc. (or simply Zoom) is an American communications technology company headquartered in San Jose, California. It provides videotelephony and online chat services through a cloud-based peer-to-peer software platform and is used for teleconferencing, telecommuting, distance education, and social relations.

    The company develops a people-centric cloud service that transforms real-time collaboration experience. The Company offers unified meeting experience, a cloud service that provides a 3-in-1 meeting platform with HD video conferencing, mobility, and web meetings. The company’s cloud-native platform enables face-to-face video and connects users across various devices and locations in a single meeting. Zoom, which was founded in 2011 and is headquartered in San Jose, California, serves companies of all sizes from all industries around the world.

    Zoom Cloud meetings offer a free video-conferencing facility for up to 100 participants. It offers a communications platform that connects people through video, voice, chat, and content sharing. Zoom is compatible with Windows, macOS, iOS, Android, Chrome OS, and Linux. Originally, it came with a 40-minute time limit but now due to coronavirus lockdown, this limit has been removed. If the companies want to add more participants and avail of more advanced features, paid subscriptions are available with the Zoom meeting app. Zoom’s closed source software is claimed to be compliant with FedRAMP, HIPAA, PIPEDA and PHIPA, and the GDPR.

    Initially, when Zoom was launched, it could host video conferences with only 15 participants which got increased to 25, two years after its inception. From there, it directly jumped to a participation limit of 100 in 2015 followed by 1000 for business customers.

    Users can hold one-on-one meetings or conduct video conferences with up to 500 participants. Screen sharing allows meeting participants to better coordinate within meetings and distribute information.

    The company has an easy, reliable cloud platform for video and audio conferencing, collaboration, chat, and webinars across mobile devices, desktops, telephones, and room systems.

    The worldwide adoption of Zoom is powered by its two core products: Zoom Meetings and Chat as well as Zoom Rooms and Workspaces. Zoom Meetings can be attended and held via a web browser, or desktop and mobile applications. The  Chat works as an extension to the Meeting product where users can interact through a chat with each other, share files, or create groups.

    Rooms and Workspaces, on the other hand, allows businesses to utilize hardware such as a computer, tablet, camera, microphone, and more to hold virtual meetings. The product is specifically aimed at larger-scale organizations, which need to hold meetings across different offices. To make integration with the hardware easier, Zoom even offers its own set of hardware that they developed in collaboration with other manufacturers.

    Zoom – Impact of COVID19

    COVID-19 really boosted the success story of Zoom. This is when the Zoom Success strategy worked out really well. We’ve outlined its impact below!

    • With the pandemic intensifying, lockdowns were announced in almost all the affected countries which took Zoom to an altogether new level.
    • Be it companies, schools, or colleges, all started using Zoom Video Communications to conduct business meetings and deliver lectures.
    • Zoom offered its services to K–12 schools free of charge in many countries.
    • Zoom also released a paid education plan which allows unlimited meetings for up to 300 people. Not just that, these meetings are graced with the options of recording, transcription, and various other administrative controls.
    • These activities contributed to a sharp rise in Zoom usage and contributed to Zoom success during pandemic. For example, in just a day, the Zoom application was downloaded 3,43,000 times.
    • The company gained over 2.22 million users in the initial months of 2020. This number exceeded the number of users and  Zoom had amassed entirely in 2019.
    • Consequently, by March 2020, the Zoom share price increased to US$160.98 per share. This drafted an increase of about 263% as compared to its initial share prices when it came out with an IPO.
    • Zoom also became the go-to social platform for the Millennials. During this pandemic when they couldn’t step out, they used Zoom for blind dates and recess and many more fun activities that could turn their boredom into delight.
    • The founder, Yuan, added $20 Million to his net worth in just one day. This took his total net worth to $5.6 Billion!

    Zoom – Founder

    The Founder of Zoom is Eric S. Yuan.

    Eric S. Yuan, Founder, Zoom
    Eric S. Yuan, Founder, Zoom

    Educational qualification

    Bachelor’s and master’s degrees in applied mathematics and computer science from the Shandong University of Science and Technology.

    Early life

    Yuan was working with WebEx, which was acquired by Cisco Systems and that’s when he became vice president of engineering. After that, he went on to launch Zoom Video Communications.

    Zoom – Startup Story

    Eric Yuan is a former corporate vice president for Cisco WebEx. He left Cisco in April 2011 with 40 engineers to start a new company, originally named Saasbee, Inc. Prior to starting Zoom, Yuan spent 14 years leading engineering teams – first at WebEx, then at Cisco after its acquisition of WebEx in 2007.

    At Cisco, he often saw how frustrated the company’s customers were with their inability to listen to their demands and the slow product iteration process.

    The company had trouble finding investors because many people thought the video telephony market was already saturated. In June 2011, the company raised $3 million of seed money from WebEx founder Subrah Iyar, former Cisco SVP and General Counsel Dan Scheinman, and venture capitalists Matt Ocko, TSVC, and Bill Tai.

    In May 2012, the company changed its name to Zoom, influenced by Thacher Hurd’s children’s book Zoom City. In September 2012, Zoom launched a beta version that could host conferences with up to 15 video participants. In November 2012, the company signed Stanford University as its first customer.

    The service was launched in January 2013 after the company raised a $6 million Series A round from Qualcomm Ventures, Yahoo! founder Jerry Yang, WebEx founder Subrah Iyar, and former Cisco SVP and General Counsel Dan Scheinman. Zoom launched version 1.0 of the program allowing the maximum number of participants per conference to be 25. By the end of its first month, Zoom had 400,000 users and by May 2013 it had 1 million users. In the recent COVID times, Zoom rose to worldwide prominence as many companies use it to conduct meetings and organize their work processes.

    Zoom – Customer Acquisition

    Zoom's Business Customers growth
    Zoom’s Business Customers growth

    Within just one year of inception, Zoom recorded participation of 1 million user base. In its first year, Zoom established partnerships with multiple B2B collaboration software providers which included Redbooth (then Teambox), and together created a program that was named “Works with Zoom“. This, in turn, worked for Zoom in establishing more superior partnerships with hardware and software vendors like Logitech, Vaddio, and InFocus.

    Zoom in 2014

    Zoom had already reached 10 million users by 2014. And this number skyrocketed in 2015 when it went on to 40 million individuals with 65,000 organizations subscribed to the Zoom Video Conferencing Services. By 2015, Zoom had already hosted a total of 1 billion meeting minutes since its inception.

    Zoom in 2017

    Zoom hosted Zoomtopia 2017 in the year that was Zoom’s first-ever annual user conference. During this conference, they announced a dynamic series of new products and partnerships, which also included Zoom’s Partnership with Meta. This partnership was envisioned to integrate Zoom with Augmented Reality, more popularly known as AR. Also, Zoom announced its native support for Skype for Business and its futile integration with Slack, Workplace by Facebook, and its initial steps towards artificial intelligence (AI) speech-to-text converter.

    Zoom – Mission

    Zoom’s mission statement says, “Our mission is to develop a people-centric cloud service that unifies your meeting experience and improves the quality and effectiveness of communications forever.“

    Zoom – Business Model

    The business model of Zoom is built on charging businesses a reoccurring subscription fee for the various products the company offers. On top of that, Zoom makes money from the promotion of hardware products.

    Zoom – Revenue and Growth

    Zoom's Revenue Growth
    Zoom’s Revenue Growth

    Zoom has recorded annual revenue of $953 Million in 2021.

    Zoom Video Communications’ revenue for the quarter ending October 31, 2020 was $0.777B, a 366.52% increase year-over-year. Zoom Video Communications revenue for the twelve months ending October 31, 2020 was $1.957B, a 262.29% increase year-over-year.

    Zoom has 504,900 business customers.

    Zoom – Mergers and Acquisitions

    Zoom extended its communication network and service through mergers and acquisition as listed below.

    • In 2015, Zoom announced the integration of Zoom video conferencing with Salesforce’s customer relationship management platform. This collaboration allowed the sales team to initiate such conferences with their sales leads without leaving the application.
    • In 2017, Zoom went on to launch Telehealth. This platform is a scalable product in the telehealth category which allows doctors to remotely visit their patients through video communications for consultation.
    • In 2017, Zoom Video Communications announced a partnership with Polycom. This partnership integrated Zoom’s video meetings into the partnered company, Polycom’s conferencing systems and enabled a wide array of features that included multiple screens and device meetings, HD and wireless screen sharing, and calendar integration with Microsoft Outlook, Google Calendar, and iCal.
    • In March 2020, NextTech AR Solutions acquired a software company named Jolokia. Through this acquisition, it intends to integrate Zoom into Jolokia’s Inferno platform. The highlight is that this integration will allow Zoom Video meetings to support up to 100,000 participants. Not just that, with added and advanced features like “real-time Q&A Plus immersive AR.” and additional features like the ability to start a Zoom meeting from the Inferno platform and the incorporation of closed captioning in 64 languages to meeting recordings.
    • Very recently, in May 2020, Zoom acquired Keybase. Keybase offers end-to-end encrypted chat, file-sharing, and code-hosting all based on a cryptographic platform.
    • Zoom has acquired German startup Karlsruhe Information Technology Solutions (KITES) on June 30, 2021. The company’s acquisition would bring in the knowledge of language translation via machine learning and is deemed to be a step forward to break the language barriers and speed up the work across the organizations the world over.

    Zoom – Funding and Investors

    Zoom has raised a total of $276 Million in funding over 8 rounds. Their latest funding was raised in January 2017 from a Series D round.

    Here is a list of all the funding rounds of Zoom:

    Date Stage Amount Investors
    November 2021 Post IPO Equity $130 Million ARK Investment Management
    January 2017 Series D $100 million Sequoia Capital, Emergence Capital Partners
    February 2015 Series C $30 million Emergence Capital Partners, Horizons Ventures, Qualcomm Ventures
    September 2013 Series B $6.5 million Horizons Ventures, Jerry Yang, Patrick Soon-Shiong
    January 2013 Series A $6 million Qualcomm Ventures, Jerry Yang
    June 2011 Seed Round $3 million TEEC Angel Fund, Michael Everett, Matt Ocko
    February 2010 Pre Seed Round $500K –

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    Zoom – Valuation

    The Zoom valuation is currently at $9.2 billion. It raised a total of $751 million at IPO.

    Zoom – Competitors

    There are several online video conferencing services available.

    Top competitors of Zoom are:

    Zoom – Challenges Faced

    With all this extra attention, Zoom is now facing a huge privacy and security backlash as security experts, privacy advocates, lawmakers, and even the FBI warn that Zoom’s default settings aren’t secure enough. Zoom now risks becoming a victim of its own success.

    Zoom has battled security and privacy concerns before. Apple was forced to step in and silently remove Zoom software from Macs last year after a serious security vulnerability let websites hijack Mac cameras. In recent weeks, scrutiny over Zoom’s security practices has intensified, with a lot of the concern focused on its default settings and the mechanisms that make the app so easy to use.

    Each Zoom call has a randomly generated ID number between 9 and 11 digits long that’s used by participants to gain access to a meeting. Researchers have found that these meeting IDs are easy to guess, allowing anyone to get into meetings.

    While Zoom still states on its website that you can “secure a meeting with end-to-end encryption,” the company was forced to admit it’s actually misleading people. “It is not possible to enable E2E encryption for Zoom video meetings,” said a Zoom spokesperson in a statement.

    Zoom – Future Plans

    During the vision keynote of Zoomtopia 2020, Zoom Video Communications, Inc. unveiled major developments to its platform that evolve the future of communications.

    OnZoom: A one-of-a-kind online event platform for Zoom users to create and host free, paid, and fundraising events. Hosts can grow their businesses, expand their reach into new audiences, and give back through native donation integration. Zoom users can discover these events and sign up for new experiences with additional functionality like gifting tickets and an attendee dashboard to keep tabs on favorite events and brands.

    New end-to-end encryption (E2EE) offering: This optional feature will be generally available in technical preview to free and paid Zoom users next week. It can be enabled at the account, group, and user level, and, depending on how the account admin sets up the feature, can be toggled on and off by the host on a by-meeting basis. When enabled, Zoom’s E2EE ensures that communication between meeting participants using Zoom applications is encrypted using cryptographic keys known only to the devices of those participants.

    Customizable SDK: Zoom is adding new enhancements to its SDKs, enabling developers and companies to enrich their own custom video-based applications with Zoom’s platform, available now on Android, iOS, and web. Developers can take advantage of a customizable UI and session control, making it easier for them to bring high-quality video, audio, and instant chat to their applications.

    Zapps: Zapps enable developers to create apps that power workflows before, during, and after the meeting. Zoom has brought first and third-party developed apps into the meeting experience for real-time adoption. Zapps are designed to give developers a fast and flexible web view canvas to create apps, viral distribution, and IT deployment and manageability.

    FAQs

    Is Zoom free?

    The basic plan for Zoom is free for all with no trial period.

    Who is the owner of Zoom?

    Eric S. Yuan is the owner of Zoom. He founded Zoom in 2011 in San Jose, California, United States.

    Who’s the CEO of Zoom?

    Eric Yuan is the CEO of Zoom.

    How does Zoom make money?

    The business model of Zoom is built on charging businesses a reoccurring subscription fee for the various products the company offers. On top of that, Zoom makes money from the promotion of hardware products.

    What are the competitors of Zoom?

    Top competitors of Zoom are:

    • Cisco WebEx Meetings
    • GoToMeeting
    • Google Hangouts Meet
    • BlueJeans Meetings
    • Skype
    • Webex
    • Slack
    • Adobe Connect

  • Growth Story of Mudrex: A Global Crypto Investment Platform

    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 Mudrex.

    A rapidly growing sector of the larger financial technology (fintech) business is the cryptocurrency market. In order to enable secure and open transactions, the cryptocurrency sector makes use of digital currencies, blockchain technology, and decentralized financial systems. Companies like Mudrex are at the forefront of offering cutting-edge investing solutions in the cryptocurrency industry as demand for investment solutions for cryptocurrencies keeps rising.

    Mudrex is a Global Crypto Investment Platform backed by Y Combinator and Nexus Venture Partners that operates in over 100 countries globally. It is a US-headquartered and Bengaluru-based fintech startup aiming to be the largest asset management platform for crypto investments. The company has $3 billion in trade volume, $20 million+ in assets under management, and 7,00,000+ investors.

    StartupTalky interviewed Mr. Edul Patel (Co-founder & CEO, Mudrex) to get insights into the startup story and roadmap of the organization.  

    Mudrex – Company Highlights

    Startup Name Mudrex
    Founders Edul Patel (CEO), Prince Arora (VP, Engineering), Rohit Goyal (VP, DeFi), and Alankar Saxena (CTO).
    Headquarters San Francisco, CA, US
    Founded 2018
    Industry Cryptocurrency, Fintech
    Total Funding $9.8 mn (February 2022)
    Website mudrex.com

    Mudrex – About
    USP of Mudrex
    Mudrex – Industry Details
    Mudrex – Idea and Inspiration
    Mudrex – Founders and Team
    Mudrex – Mission and Vision
    Mudrex – Name, Tagline and Logo
    Mudrex – Startup Launch
    Mudrex – Growth
    Mudrex – Mentor/Advisors
    Mudrex – Competitors
    Mudrex – Funding and Investors
    Mudrex – Challenges Faced
    Mudrex – Business Model & Revenue Model
    Mudrex – Future Plans
    Mudrex – FAQs

    Mudrex – About

    Mudrex is a revolutionary cryptocurrency investment platform that empowers individuals and institutions to invest confidently in digital assets. With state-of-the-art technology and expert insights, Mudrex provides a secure environment to manage crypto investments. Their ultimate goal is to help clients achieve financial goals and become the go-to platform for crypto investing.

    Products Offered by Mudrex

    1. Mudrex Portfolio: The idea behind the product is to democratize access to investment opportunities in financial markets for investors. This product will provide access to sharp and insightful trading strategies that were earlier available only to high-net-worth individuals. The product is created to make an easy-to-follow process for cryptocurrency investments. The platform builds a portfolio bundle using top-performing algorithms for different risk-reward profiles. An investor starts with choosing a portfolio based on their risk-reward expectations. It then offers trading strategies and products that are most suited to their risk profile.
    2. Mudrex Coin Sets: Mudrex Coin Sets are baskets of crypto tokens that will help users generate good returns in the long term. These crypto baskets are automatically managed and re-balanced periodically to ensure that they are improved as the market changes. Coin Sets is one such product that will allow investors to mitigate risk by diversifying investment in cryptocurrencies. It is a mutual fund-like product with a better risk-reward ratio. The product is designed to expand retail participation in crypto investment, curated suitably for investors who look at crypto investments as long-term wealth creation. Coin Sets boast of over 90% month-on-month retention rate.

    USP of Mudrex

    Being a holistic destination for all crypto investment requirements remains its biggest USP. Unlike other cryptocurrency exchanges in India, the Mudrex platform is hassle-free, easy to use, and equally supports trading and investing communities to test out strategies and grow wealth consistently.

    Another major differentiator is the no coder feature offered to seasoned traders. This was introduced as the team realized that global exchanges that are open 24*7 do not provide accessible tools and proper infrastructure to trade. On the other hand, only 1-2% of the retail investor base holds the knowledge of crypto trading, hence Mudrex is trying to spread awareness and educate them on crypto as an asset.

    Mudrex – Industry Details

    The startup did extensive research to find out the market size for one of the most rapidly expanding industries in the world. Different sources point out that by 2025 the crypto asset management industry would be clocking more than $12.5 Billion per year. Mudrex’s growth estimates suggest that it will be able to scale up to capture 1% of that market share.

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    Mudrex – Idea and Inspiration

    During the ideation phase of Mudrex, the team reached out to approximately 200 users experienced in the crypto space. They got a unanimous response stating that automating trading in cryptocurrencies was a revolutionary move. They then closely monitored the interaction with these users to understand their pain points. The founders & the entire team worked very hard to create a product that solves this unique problem. Apart from these 200 people, they reached out to various Discord communities to receive feedback and constantly improve the product and the user experience.

    They figured that trading in the crypto market which remains open 24*7 was significantly different from trading in the stock markets. The team initially built Mudrex with the idea to make money for themselves. When they started building Mudrex in Oct 2018, the founders just wanted to solve their own problems. Automating trading was hard, finding quality strategies and signal providers was difficult, and the crypto world was filled with scams. They wanted to build a trustworthy, reliable, and scalable platform that just works and helps them grow their money.

    2 years from that point, in Oct 2020, Mudrex made its first investment from the company’s books. The team paper traded for 6 months, ran countless backtests, and detailed risk analysis. After all, this was the company’s money, not something they could just afford to play with.  

    Mudrex – Founders and Team

    Mudrex is a team of four co-founders from IIT Bombay and IIT Kanpur – Edul Patel (CEO), Prince Arora (VP, Engineering), Rohit Goyal (VP, DeFi), and Alankar Saxena (CTO).

    Mudrex Founders
    Mudrex Founders

    Edul Patel

    Talking about Edul Patel’s background, he has over 10 years of deep-rooted experience in finance, entrepreneurship, and building tech-driven applications. His domain expertise lies in product and & risk management. Edul graduated from IIT Bombay in 2011, post that he went to Deutsche Bank and worked there for a couple of years in trading and investing. He left Deutsche Bank in 2013 to start his own company called Niffler.

    Prince Arora  

    At Deutsche, Edul met Prince Arora (Vice President, Engineering) who was his CTO at Niffler, a tech lead in his next company, and now Co-Founder of Mudrex. ‘Nifler’- a $1 Million funded startup by SAIF partner (that eventually got acquired by Tapzo. Edul became the head of product at Tapzo, and it eventually got acquired by Amazon, and he didn’t want to go to Amazon. So Prince and Edul both left Tapzo and started working on Mudrex. They started doing this in September 2017.

    Rohit Goyal

    In September 2017. The duo got their third co-founder, Rohit Goyal (Vice President, DeFi). Edul has known him for the last 15 years now. He was a junior at IIT Bombay. Post IIT, he started his own company called Saabziwaala.com, which was acquired by Big Basket. After that, he started working on his own gaming company and created multiple casual games for over three years. After that, he came to Bangalore, started staying with Edul, and saw how interesting it was to work on Crypto.

    Alankar Saxena

    Mudrex’s fourth co-founder is Alankar Saxena (CTO) who was four years junior to Edul at IIT Bombay. He started his career at Twitter, and worked on personalization and scaling and Twitter security as well. He came back and started working at a credit lending startup, very quickly realizing that credit lending in India is an Operations problem and not a tech problem to solve. He joined Mudrex eventually.

    Now Mudrex is a team of 25 to 30 people, about 70% to 80% are ex-IIT, Ex-NIT, Ex-BITS, Ex-Google, Ex- Microsoft and 60% are ex-founders who have built and sold their businesses to other companies in the past. So, Mudrex has a strong entrepreneurial team.

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    Mudrex – Mission and Vision

    Mudrex’s mission revolves around bringing “risk optimised high yield investments to everyone.”

    Mudrex’s long-term vision

    Mudrex aims to become a one-stop solution for crypto investment needs. It will achieve this by expanding the user community, and providing superior tools to advanced portfolio managers.

    Mudrex’s Short-term vision

    On an immediate basis, its vision is to improve accessibility to crypto investment for retail investors. Hence, the team will soon launch the Mudrex application and introduce tools to ease the process. Simultaneously intend to educate and debunk myths around crypto investing for beginners and novice investors in the space to accelerate the process.

    ‘Mudrex’ comes from the amalgamation of the Mudra exchange. Mudra refers to tokens, and therefore the name implies an exchange to trade tokens.

    The tagline of Mudrex is ‘simplifying investing.’ The founders knew that trading cryptocurrencies were cumbersome, and simplifying the process was their unique proposition.

    Mudrex Logo

    Mudrex – Startup Launch

    Mudrex started by having extensive one on one conversations with different sets of people through Twitter and Discord communities. It reached out to close to 2000 such people to land its first set of 100 users.

    Mudrex’s primary strategy while going from 100 to 10000 was scaling up its various online communities. The team followed this up with a referral campaign. As they started growing, the startup entered into partnerships with various influencers.

    Mudrex – Growth

    On average, Mudrex is at revenue growth of 100% month on month. It currently stands at over 50.000+ registered users and has clocked over 450% user growth in 4 months. Mudrex currently has a user base of 100,000 users from over 100 countries. Mudrex has assets under management amounting to $15 million (as of October 2021).

    Mudrex – Mentor/Advisors

    Mudrex is fortunate to have advisors such as Nexus Venture Partners, Village Global, and other VCs such as Kunal Shah, Anand Chandrashekharan, and Anjali Bansal.

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    Mudrex – Competitors

    Mudrex has transitioned itself into an investing platform for the cryptocurrency market. Some of the international competitors are BlockFi, Celsius, Nexo, etc.

    Mudrex – Funding and Investors

    Mudrex has raised a Pre-series A funding round on February 8, 2022, which came from Arkam Ventures, Tribe Capital and Bolt by QED Investors. With this funding round Mudrex aims to boost user acquisition, licensing and looks up to a quick expansion in geographies like India, the US, Europe and Latin America.

    This came after 4 months since Mudrex last raised $2.5 mn from Nexus Ventures in August 2021.

    Mudrex’s funding details are as follows:

    Date Stage Amount Investors
    February 8, 2022 Pre-Series A $6.5 mn Tribe, Arkam and Bolt
    Aug 10, 2021 Seed $2.5 Mn Nexus Venture Partners with participation from Village
    September 1, 2020 Pre-Seed Round $250K –
    March 18, 2019 Seed Round $500k Y Combinator, Better Capital

    “With the funds raised, we will be looking to perfect our existing products and introduce tools for simplifying the investing journey of investors. Furthermore, the capital will be utilized to expand the team globally and establish Mudrex as a leading crypto investment platform” – says Edul Patel, Co-founder & CEO, Mudrex.

    Mudrex – Challenges Faced

    Mudrex was started as a cryptocurrency exchange for India. The biggest challenge they faced was right before the launch of the platform in 2018. But just before going live, the RBI’s single unilateral decision robbed Mudrex of its entire market. On 8th April, the RBI decided to ban crypto trading in India which led to a massive setback for Mudrex. The team realized that an exchange is highly commoditized and the actual value is the investing part. They wanted to serve a global audience, hence turning the setback into an opportunity. Years later they launched Mudrex as a crypto investment platform.

    Mudrex – Business Model & Revenue Model

    Mudrex operates in a B2B2C business model. In Mudrex, there is a fee for different algorithms that you choose to invest with. The starting fee is as low as 1%-2% on average per month for investing in these products. And typically users see 7%-8% on their returns.

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    Mudrex – Future Plans

    There are 6 major things Mudrex plans to work on:

    1. Mudrex Exchange – Build Mudrex’s retail-focused property. The team is building a full-fledged end-to-end crypto trading and investing platform. Users will be able to buy crypto from fiat, store it, trade it and invest it. They are working on a mobile app as well

    2. Mudrex Capital focused on institutions – Provide bespoke services to 250k USD> clients. Institutional investors focused on the asset management desk providing bespoke products to HNIs, Funds, and institutions. The minimum check size for this is 250k. Mudrex will be advancing this desk to start providing services to others

    3. Investment as a service

    • Working with liquidity gatekeepers as channel partners
    • Provide investment options directly to exchanges, wallets, and liquidity sources as a service to let their users invest
    • Five global integrations with exchanges across confirmed, there are 13 more in the pipeline.

    4. ‘Shopify For traders’

    • Work with product gatekeepers as channel partners.
    • Repackage the Mudrex billing, subscription, and payments infrastructure in a service that traders use to run their own subscription business and community.
    • The pilot is already running. The product will go live soon this year

    5. Products based on Mutual funds like layer

    • Mudrex is planning to launch a Crypto product based on themes in the upcoming weeks
    • The product modeled on the lines of ETFs/Mutual Fund will help users to participate in crypto retail

    6. Team Expansion – Mudrex recently raised $2.5 million from Nexus Venture Partners as part of its seed round. The funds will be used to expand the company’s personnel and operations, as well as develop new products that meet global regulatory requirements.

    Mudrex – FAQs

    What is Mudrex?

    Mudrex is a Global Crypto Investment Platform. It deals in 2 Products – Mudrex Portfolio & Mudrex Coin Sets. The former democratizes access to investment opportunities in financial markets for investors and offers trading strategies that best suit the risk profile. Whereas Mudrex Coin Sets are baskets of crypto tokens that will help users generate good returns in the long term.

    Who are the founders of Mudrex?

    Mudrex is a team of four co-founders from IIT Bombay and IIT Kanpur – Edul Patel (CEO), Prince Arora (VP, Engineering), Rohit Goyal (VP, DeFi), and Alankar Saxena (CTO).

    How does Mudrex make money?

    In Mudrex, there is a fee for different algorithms that you choose to invest with. The starting fee is as low as 1%-2% on average per month for investing in these products. And typically users see 7%-8% on their returns.

    Is Mudrex an Indian Company?

    Mudrex is a US-headquartered and Bengaluru-based fintech startup.

    What is Mudrex’s USP?

    Being a holistic destination for all crypto investment requirements remains Mudrex’s biggest USP. Another major differentiator is the no coder feature offered to seasoned traders. This was introduced as the team realized that global exchanges that are open 24*7 do not provide accessible tools and proper infrastructure to trade.

  • Honeywell – Story of the Century-old Future Makers

    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 Honeywell.

    Destiny is what the company makes by itself. Honeywell believes themselves to be the shapers of the future and their plans can change the entire world. Transforming the way of working and solving business-related problems are the company’s toughest challenges.

    Honeywell is an American publicly traded conglomerate company. It has got 4 areas of business. Those are Aerospace, Building Technologies, Safety & Productivity Solutions and Performance Materials & Technologies. The company has got a workforce of more than 110,000 workers. Read the Honeywell Success Story below to know more.

    Honeywell – Company Highlights

    Startup Name Honeywell
    Headquarters Charlotte, North Carolina, United States
    Sector IT
    Founder Mark C. Honeywell
    Founded 1906, Wabash, Indiana, United States
    CEO Darius Adamczyk (March 2017 – Present)
    Website honeywell.com

    Honeywell – About
    Honeywell – History
    Honeywell – Founder And Team
    Honeywell – Tagline and Logo
    Honeywell – Business Model
    Honeywell – Revenue Model
    Honeywell – Funding and Investors
    Honeywell – Growth
    Honeywell – Competitors
    Honeywell – Future Plans
    Honeywell – FAQs

    Honeywell – About

    Honeywell is a Fortune 100 company that invents and manufactures technologies to address tough challenges linked to global macrotrends such as safety, security and energy. With approximately a total of 110,000 employees worldwide that includes more than 19,000 engineers and scientists, the company is completely focused on quality, delivery, value, and technology in everything.

    Honeywell was acquired by AlliedSignal in 1999. The company chose the name, Honeywell because of its considerable brand recognition. This company was also a Dow Jones Industrial Average index component from 1999 to 2008. It provides various products and services for aircraft and vehicles. The company also offers aircraft engines and service solutions. It helps the owner of the homes to stay connected.

    Honeywell is also engaged in manufacturing and developing materials. These all-to-do things are the parts of various categories of the company.

    Honeywell – History

    The official beginning of the company was considered in 1885 with the invention of furnace regulator and alarm. Later, the company was founded in 1906. It was founded by Mark C. Honeywell. He was the first president of the company. William and his son Harold Swett were the first and second chairman of the company. Thermostat heating control was their first business venture. Also in the 1950s, the company developed the Automatic Master Sequence Selector. It was an automatic control system for airplanes, which reduces pilots’ workload. It’s also into the computing business since the 1960s.  

    Key Dates

    1885 – Invention of the furnace regulator

    1906 – Honeywell Heating Speciality Co. formed

    1920 – Allied Chemical & Dye Corporation formed

    1927 – Heating companies merge

    1969 –  Moon mission support

    1999 – AlliedSignal acquires Honeywell

    2005-2016 – Two decades of acquisitions

    2018 – Home and Transportation System become new companies

    2019 – Honeywell Forge launched & headquarters move to Charlotte

    Honeywell – Founder And Team

    Mark C. Honeywell | Founder of Honeywell
    Mark C. Honeywell | Founder of Honeywell

    Mark C. Honeywell, the founder of Honeywell was born on 29th December 1874 in Wabash, Indiana, the United States and spent his childhood there itself. He took his last breath on 13th September 1964 in Indianapolis, Indiana, United States and was an American electronics industrialist. When he was young, he did various jobs like working in the bicycle business, citrus and also in his father’s Wabash mill. He completed his education from Eastman Business College.

    Darius Adamczyk | CEO of Honeywell
    Darius Adamczyk | CEO of Honeywell

    The tagline of the company is – “The Power Of Connected”, which emphasizes Honeywell’s distinctive approach towards connecting with people. The power to connect, inspire change and build trust.

    Honeywell Logo

    Honeywell – Business Model

    The company has got the following business model –

    1. Key Partners –

    • Aircraft manufacturers
    • Suppliers
    • Manufacturers of components and parts
    • Defense sector

    2. Key Activities –

    3. Key Resources –

    • Facilities and product technology
    • Partnerships
    • Intellectual property
    • Development facilities
    • Production
    • Portfolio development
    • Organic growth
    • Awards and recognitions
    • Strong distribution network

    4. Customer Segments –

    • Defense sector
    • Major corporations
    • Private consumers

    5. Customer Relationship –

    • Service and support
    • Diversity
    • Automation
    • Knowledge and Expertise
    • Performance-based

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    Honeywell – Revenue Model

    The company generates revenue by the 3 following segments mentioned below –

    It is especially driven through sales.

    Aerospace sales, Performance Materials & Technologies sales and Automation & Control Solutions Sales

    • Aerospace sales – Here revenue is derived from the sale of original equipment.
    • Performance Materials & Technologies sales – Revenue is derived from the division of process solutions. It is the sale of oil products and advanced materials.
    • Automation & Control Solutions Sales – Revenue is derived from energy sales, security and safety products, distribution services and also from building solutions.

    Honeywell – Funding and Investors

    Honeywell has raised a total of $11.4M in funding over 1 round. This was a Grant round raised on Oct 27, 2009.

    Date Transaction Name Money Raised
    October 27, 2009 Grant $11.4 million

    It is funded by the US Department of Energy.

    Honeywell – Growth

    The company achieved margin expansion of more than 140 basis points and a share of $2.21 in the 1st quarter of 2020, up to 15% with operating profit growth of 3% and segment property growth of 2%. EPS growth was 15%. It generated $0.9 billion of operating cash and $0.8 billion of free cash. This strengthened their balance sheet.

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    Honeywell – Competitors

    The top competitors of the company are Garmin, General Electric, 3M, Johnson Controls & Siemens.

    • Garmin is one of the top competitors of Honeywell. It was founded in the year 1989 and is headquartered in Olathe, Kansas. It operates in the Electronics industry. The company generates less revenue than Honeywell.
    • General Electric is a high-tech industrial company engaged in energy, healthcare and transportation.
    • 3M is also the competitor of Honeywell. It was founded in the year 1902 and is headquartered in Saint Paul, Minnesota. This company works in the Retail Distributors industry. 3M also generates less revenue than Honeywell.
    • Johnson Controls is also among the top competitor of Honeywell. It was founded in the year 1885 and is headquartered in Milwaukee, WI. This company is almost similar to Honeywell. Likewise, it also operates in the Industrial Machinery and Equipment Industry. It has got fewer employees than Honeywell.
    • Siemens is a global technology company focusing on the areas of electrification, automation and digitalization.

    Siemens AG | German Multinational Company | Company Profile |
    Founded in 1847, by Werner Siemens and Johann Halske, Siemens’ business segment is divided in 4 parts. Know more about its business model, success story etc
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    Honeywell – Future Plans

    The company wants an expansion of the segment profit margin to 50%. The goal of the company is to provide its consumers with a diverse range of technical solutions and industrial products across the automotive, petrochemicals, and commercial industries, and aerospace.

    Honeywell has evolved throughout the years and reinforced its services harnessing the technologies of the age. The company, which has utilized the 90s to maneuver into the digital world, and has already been fueled by AI and quantum computing since 2010, is now looking to successfully wield autonomous systems.

    According to the words of Ashish Gaikwad, Managing Director, Honeywell Automation India Ltd:

    “This new decade is going to be all about autonomous systems.”

    Gaikwad further mentioned that Honeywell is not just meaning to work on driverless cars but will be going beyond that to innovate the concepts, technology, and machinery that would help in preventing road accidents, making transportation accessible for all!

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    Honeywell – FAQs

    What services does Honeywell provide?

    Honeywell provides various products and services for aircraft, buildings, cybersecurity, industrial and workers. The company also offers aircraft engines and service solutions. Furthermore, they provide a wide range of services, ranging from remote technical support to product repair to help keep their customers moving forward.

    What products does Honeywell make?

    Honeywell makes a wide array of products such as Fans, Heaters, Thermostats, Ceiling Fans, Air Coolers, Air Conditioners, Humidifiers and Air Purifiers.

    What is Honeywell known for?

    Honeywell International Inc. is a diversified manufacturing and technology company that operates through four business segments: aerospace, building technologies, performance materials & technologies and safety & productivity solutions.

    What makes Honeywell unique?

    Honeywell is a well-diversified company. It operates in the aerospace, automation and controls, materials and chemicals and transportation sectors.

    What does Honeywell PMT do?

    Honeywell Performance Materials and Technologies helps to improve productivity with high-quality and consistent chemicals.

    What is Honeywell Forge?

    Honeywell Forge is Enterprise Performance Management Software-as-a-Service, purpose-built on a native edge-to-cloud, data-driven architecture to accelerate digital transformation by:

    • Providing apps that deliver value in days
    • Delivering a system of record that is always up-to-date
    • Future-proofing investments via extensible applications
    • Avoiding the rip-and-replace approach to extensive capital projects.

  • Hexometer – Website Health and Performance Monitoring Solution!

    Unlike traditional uptime and page speed monitoring platforms that just tell you when your website is down or slow, Hexometer’s AI assistant works in real-time to suggest growth opportunities and detect anomalies in your website health and performance before they burn a hole in your pocket.

    Hexometer is a comprehensive 24/7 monitoring tool that checks your website’s health and performance, alerting you when things go wrong before they impact your business.

    Hexometer – Company Highlights

    Startup Name Hexometer
    Headquarter Yerevan, Armenia or DE, US
    Sector SaaS, Website’s Performance Monitoring
    Founder Stepan Aslanyan, Vahe Sargsyan and Chris Closset
    Founded 2019
    Legal Name Hexact, Inc
    Website hexometer.com

    About Hexometer and How it Works
    Hexometer – Target Market Size
    Founders of Hexometer and team
    Hexometer – Business Model and Revenue Model
    Hexometer – Startup Launch
    Hexometer – Growth
    Hexometer – Recognition and Achievements

    About Hexometer and How it Works

    The team has over 18 years of experience building their e-commerce businesses, as well as helping medium to large multinational brands grow online.

    Hexometer founder Stepan Aslanyan says, “We understand the online challenges you face each day as well as the unique opportunities you can take advantage of to grow your business. We live and breathe e-commerce just as you do and our platform evolves as new algorithms and best practices come around”.

    Hexometer Logo
    Hexometer Logo

    Hexometer works 24/7, checking your website for downtime, page speed performance issues, security vulnerabilities, page & JS errors, email deliverability, SEO optimization or server configuration problems.

    Everything happens in the cloud, and you can get started in minutes – no code changes required.

    Hexometer – Target Market Size

    Hexometer provides 24/7 website monitoring and marketing insights to protect your business and grow your sales. From solopreneurs, small and medium-sized businesses, agencies to global brands, it got you covered. No code changes required.

    Founder of Hexometer and team

    Stepan Aslanyan is the founder and CEO of Hexometer. Vahe Sargsyan is the co-founder and CTO at Hexometer.

    Stepan Aslanyan | Founder and CEO-Hexometer
    Stepan Aslanyan | Founder and CEO-Hexometer

    Chris Closset was an early customer, and they managed to convince him to join as a partner and CMO after a few weeks of discussions about how they could improve their service. He now helps direct the strategic direction of the group and heads the marketing strategy.

    Hexometer – Business Model and Revenue Model

    Hexometer has a subscription business model, with a free forever option available.

    Hexometer – Startup Launch

    Hexometer is active on various social media channels including Reddit, Quora, and ProductHunt. The growth has mainly been organic based on word of mouth, recommendations from existing users, as well as from social media and press mentions.

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    Hexometer – Growth

    Hexometer is growing fast, and this growth is providing them with a unique opportunity to help businesses at scale during these difficult times. Now more than ever, online businesses need to protect their online sales, ensure their sales funnels are working, and maximizing their traffic from paid ads and organic searches.

    In the last 6 months, Hexometer has implemented a wide range of product improvements including Zapier integration, Google search console data, in-depth page-speed monitoring, JS error detection, malicious code monitoring, Google sheets integration, and security header checks to name a few.

    And the team is looking forward to improve its feature set to make it even easier to thrive online whether you are a business owner managing your website, an agency looking after client websites, or developer working on web development projects.

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    Hexometer – Recognition and Achievements

    Hexometer received several awards from ProductHunt.com including:

    • #1 Product of the Week (November 2019)
    • #1 Product of the Day (November 2019)
    • #2 Product of the Month (November 2019).

    FAQs

    What is Hexometer?

    Hexometer is a comprehensive 24/7 monitoring tool that checks your website’s health and performance, alerting you when things go wrong before they impact your business.

    Who are the founders of Hexometer?

    Stepan Aslanyan, Vahe Sargsyan and Chris Closset are the founders of Hexometer.

    When was Hexometer founded?

    Hexometer was founded in 2019.

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  • OkCupid – Love Is Not In the Air, Love Is Here!

    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 OkCupid.

    Dating has totally changed in the past years and has become a rising trend in today’s world. Nowadays individuals choose to get mingled with the help of the internet rather than finding or meeting someone offline.

    OkCupid is a dating app which would help you to find your desired partner online. It allows the users to create a meaningful and a real connection. This application includes multiple-choice questions to match users. Registration is free of cost. You don’t need to register yourself in order to become a member. Read the OkCupid success story below.

    OkCupid – Company Highlights

    Company Name OkCupid
    Headquarters New York, United States
    Sector Dating App, Dating Services, and Internet
    Founders Chris Coyne, Christian Rudder, Max Krohn and Sam Yagan
    Founded 2003
    Website okcupid.com

    OkCupid – About
    OkCupid – Startup Story
    OkCupid – Founders and Team
    OkCupid – Business Model
    OkCupid – Revenue Model
    OkCupid – Funding and Investors
    OkCupid – Competitors
    OkCupid – FAQs

    OkCupid – About

    OkCupid is an online dating site. It asks the users the correct questions which helps the company to find the matched users. It enables the users to find someone of their kind with matched thoughts and this happens with the help of multiple-choice questions.

    Logo, OkCupid

    OkCupid – Startup Story

    The four founders were the students of Harvard University and the team gained recognition after their creation of TheSpark. Later it was known as SparkNotes. It included various humorous personality tests, match tests, etc. SparkMatch debuted with their registered users and match tests. This SparkMatch became OkCupid. In 2001, SparkNotes got sold and the team began concentrating more on OkCupid. In 2007, the company launched Crazy Blind Date. Many tests on the way of its journey got removed as well. In 2012, the company launched the social discovery service Tallygram but it too got removed in the next year.

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    OkCupid – Founders and Team

    The founders of the company are Chris Coyne, Christian Rudder, Sam Yagan and Max Krohn.

    • Chris Coyne is the founder of three popular websites. He was the co-founder and the creative director of TheSpark. He is a BA graduate in Mathematics from Harvard University.
    • Christian Rudder is an entrepreneur, musician and writer. He is the co-founder of OkCupid. He was also the founder and the creative director of SparkNotes. He is also a BA graduate in Mathematics from Harvard University. He completed his schooling from Little Rock Central High School.
    • Sam Yagan is the co-founder and the CEO of OkCupid. He also held the same position at SparkNotes. He was the co-founder of Techstars Chicago and MetaMachine. He was the vice president of Barnes and Noble.com and iTurf. He pursued his bachelor’s degree from Harvard University and completed his MBA from Stanford University.
    • Max Krohn is the co-founder of OkCupid. He was also the founder at TheSpark and SparkNotes. He is a graduate in Computer Science and Mathematics from Harvard University and also has a PhD in Computer Science.
    Founders, OkCupid

    OkCupid – Business Model

    Data is the word which has differentiated OkCupid from the other online dating companies in the crowded world. Registration is free here. Whenever a user signs in, he/she is asked a few questions. Questions are related to hobbies, lifestyle choices and interests. The users answer around 250 questions giving data to the online dating site to find matched people.

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    OkCupid – Revenue Model

    Registration is free but the entire process can’t be free of cost. It is based on an advertisement model. The company sends email to the users that, ‘somebody just sent you a message. Eg – Pay 20 bucks to instantly view the message.’ This way the company advertises by selling and tracking given data by the users. Almost every online site makes money in this procedure.

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    OkCupid – Funding and Investors

    OkCupid has raised a total amount of $6 million in funding from 1 funding round.

    Date Transaction Name Money Raised Lead Investor
    January 17, 2017 Series A $6 million Great Oaks Venture Capital

    OkCupid has got only 1 invester recently. Great Oaks Venture Capital is the most recent investor.

    OkCupid – Competitors

    The top competitors of the company are Zoosk, Taimi and Rendeevoo.

    • Zoosk is the top competitor of OkCupid. The company is headquartered at Lehi, Utah and was founded in 2007. Zoosk operates in the Application Software field.
    • Taimi is the #2 competitor of OkCupid. It is headquartered at Las Vegas, NV and was founded in 2017. It works in the Application Software industry.
    • Rendeevoo is also one of the top competitors of OkCupid. It is headquartered at London, England and was founded in 2012. The company competes in the Personal Services industry.

    OkCupid – FAQs

    For how long does the green dot (online) stay on OkCupid after closing?

    60 minutes.

    Is OkCupid filled with fake profiles?

    Not all are fake, but in an online dating site, it is quite natural to find few fake profiles among the real ones.

    Which is better? OkCupid or Tinder?

    OkCupid is especially for the younger ones and Tinder is for all.

    Is OkCupid expensive?

    The registration is only free and the rest like viewing messages, who liked you, etc costs.

    Does OkCupid allow the users to see when someone was last time online?

    Yes, it does show the time.

  • GameStop – Let the Game Begin!

    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.

    Children love playing video games. In today’s date, not only the children but also the adults crave for playing video games. Video games enable players to enjoy life. Both the children and the middle-aged generation are so busy in their daily routine that getting leisure time is being difficult every passing day.

    GameStop is an American video game, gaming merchandise and consumer electronics retailer. It is considered to be the world’s largest retail gaming destination for PlayStation 4, One X, Xbox and Nintendo Switch games, consoles and accessories. Read the GameStop success story below.

    GameStop – Company Highlights

    Company Name GameStop
    Headquarters Grapevine, Texas, United States
    Sector Gaming, Online Gaming and Software
    Founders Gary M. Kusin and James McCurry
    Founded 1984
    Website gamestop.com

    GameStop – About
    GameStop – Startup Story
    GameStop – Founders and Team
    GameStop – Tagline, Slogan and Logo
    GameStop – Business Model
    GameStop – Revenue Model
    GameStop – Funding
    GameStop – Competitors
    GameStop – FAQs

    GameStop – About

    GameStop is an entertainment software and video games retailer. It is operating more than thousands of retail stores globally. This company has made technology both simple and affordable. It offers the entire world with wireless services. The company is a retailer of pop culture collectibles and multichannel video games.

    GameStop – Startup Story

    Kusin worked at Federated Department Stores as a manager and McCurry was a consultant in Bain & Company’s office. Both were classmates in the past school days. In 1982, both the friends met with each other about a proposal to launch a chain of software for video and computer games selling stores. McCurry believed desperately that one day both would definitely succeed. The friends resigned at the end of 1982. The first Babbage’s retail store was inaugurated in 1983 in a mall. It was named after the British mathematician Charles Babbage. The goal was to keep updated products. McCurry took care of the finances and Kusin acquired products from the local distributors. And the men continued opening several stores all around.

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    GameStop – Founders and Team

    Gary M. Kusin and James McCurry are the founders of the company GameStop.

    • Gary M. Kusin is an American entrepreneur, business advisor and the co-founder of GameStop. He was the President and the CEO at FedEx Kinko’s for a time period of 6 years. He has got 2 sons and both of the sons are now American entrepreneurs.
    • James McCurry was the founder, president and the CEO of the company. He completed his education from Harvard University.

    The tagline of the company is ‘Power to the Players‘.

    Logo, GameStop

    GameStop – Business Model

    The company targets its valuable offerings to anyone who loves playing video games and has got a craving for tech products. The products are very accessible to the consumers in the outlets as there is a wide range found in the stores. GameStop is not only accessible in case of its products but also the locations of the stores are accessible for the customers to reach out. Outlets are situated in the shopping malls or in the major metropolitan areas for attracting people.

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    GameStop – Revenue Model

    The company generates revenue from the sale of the products to various consumers in different channels. The biggest cost driver here is the cost of sales. The other cost drivers are in the areas of marketing or administration. GameStop has got around 80 manufacturers, software publishers and distributors. The top dealers of the company are Microsoft, Electronic Arts, Sony and Nintendo.

    GameStop – Funding

    Date Transaction Name Money Raised Lead Investor
    August 31, 2020 Post-IPO Equity – RC Ventures

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    GameStop – Competitors

    The top competitors of the company are Auchan, Carrefour, Sony and Microsoft.

    • Auchan is a platform providing consumer products. The company was founded in 1961 and is headquartered at Moskva, RU. It operates in the retail appliances like furniture, toys, groceries and health care and beauty industry.
    • Carrefour is a supermarket and hypermarkets company. The company was founded in 1959 and is headquartered at Paris, France. It works in the e-commerce sector.
    • Sony is a company that sells electronics products for professionals and consumers. The company was founded in 1946 and is headquartered in Tokyo, Japan. It operates in the manufacturing and industrial and media and entertainment industry.
    • Microsoft is a technology company that supports and develops software, devices and services. The company was founded in 1975 and is headquartered in Redmond, US. It works in the tech field.

    GameStop – FAQs

    Is GameStop shutting down?

    The company has got plans to shut down around 1000 stores all around by the end of March 2021.

    Did GameStop’s business end in 2020?

    GameStop has already closed more than 321 stores in 2019. This is being done because the company’s sales are no more profitable like before it used to be.

    How much cash does GameStop provide to a seller of PS4?

    Probably not more than $130 (if only the item is in a very good condition).

  • MediaFire – Managing, Storing And Uploading Files Is Easier Now

    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.

    Your phone’s storage is turning full? Don’t know where to keep your files? Running out of space? Need a specifically designed host and a proper backup? Want a synchronisation process too? Adding, changing, deleting is no more an issue here.

    MediaFire is a file hosting, synchronisation and cloud storage services. Now, it’s easier to upload all files like videos, documents, photos and audios and is super accessible. Customers can access them from anywhere using phones, tablets, etc. It is simple yet an efficient file storage service. It is an online solution. Read the MediaFire success story below.

    MediaFire – Company Highlights

    Company Name MediaFire
    Headquarters Shenandoah, Texas, US
    Sector Cloud Storage, File Hosting and File Synchronisation
    Founders Derek Labian and Tom Langridge
    Founded August 2006
    Website mediafire.com

    MediaFire – About
    MediaFire – Startup Story
    MediaFire – Founders And Team
    MediaFire – Logo
    Mediafire – Business Model
    MediaFire – Revenue Model
    MediaFire – Funding And Investors
    MediaFire – Growth
    MediaFire – Competitors

    MediaFire – About

    MediaFire is a cloud storage service that helps consumers to organize, share data and store via the Internet. It offers secure, unlimited and free cloud storage so that customers can share and store data with their friends, family members and colleagues.

    Free Cloud Storage Services to Store Data Online and Access Remotely
    Everyone who uses internet is aware of Cloud Storage and Computing today, andits benefits. It is nothing more than a cloud computing model that allows usersto store data over the internet, through a cloud service provider. Cloud storagehas drastically altered the traditional ’data storage on loca…
    StartupTalkyANSH MEHREY

    MediaFire – Startup Story

    A group of entrepreneurs and enthusiasts were having a difficult time with sending large files and emails. Together they all decided to create a site where customers of all ages could feel safe and happily share their large files or emails. They created one and it slowly continued to grow. More and more features got added as well as invented. Ultimately now it is providing unlimited cloud storage and also enabling users to share files with family, friends, etc with branding tools.

    MediaFire – Founders And Team

    Derek Labian and Tom Langridge are the founders of the company MediaFire.

    • Derek Labian is a Network, Software Engineer, Architect, Advisor and an Investor. He is currently the co-founder and CEO at 2 companies. One is Fast Technologies, Inc and the other one is MediaFire.com. He was also the Technology Principal at IntoMobile for 7 years. He was the founder and CEO at FileFront.com.
    • Tom Langridge is also currently the co-founder of 2 companies. Those are Fast Technologies, Inc and MediaFire.com. He was the co-founder at IntoMobile. He began his career as a Lead UI Designer at FileFront.com. He completed his education from The University of California, Davis.
    Derek Labian and Tom Langridge (left to right), co-founders, MediaFire

    Logo, MediaFire

    Mediafire – Business Model

    MediaFire allows its users to store and share various sizes of files. It is available for Android, iPhone, Web and Windows. It is the only storage solution that offers unlimited downloads all for free. MediaFire provides clients software for Android, iOS, Microsoft Windows, Blackberry and Linux. In 2014, it declared public access to its platform. They have a public forum and have released SDKs for JavaScript, Java, etc. Storage starts at 10GB and can be increased up to 40GB. The company’s features include up to 50GB of storage.

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    MediaFire – Revenue Model

    MediaFire has got 43 million registered users. Also, the company attracted around 1.3 billion unique visitors to its sphere in 2012. MediaFire has got more than 150 million people using the application every month to store the professional data quickly and safely in the cloud. It has got different plans –

    • Basic plan – 10GB = Free
    • Pro plan – 1 TB (1000 GB) = $4.99 a month
    • Business plan – Up to 100 TB = $49.99 a month

    Hence, there are 2 subscriptions levels – Pro and Business plan and the Basic plan is free. Subscriptions can be cancelled at any point of time without any obligations.

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    MediaFire – Funding And Investors

    Date Transaction Name Money Raised Lead Investor
    April 2020 Debt $150,000 – $350,000 U.S. Small Business Administration
    October 2008 Self $2.5 million –

    MediaFire hasn’t made any investments till date.

    MediaFire – Growth

    Reports say that MediaFire has progressed a lot in terms of growth. It has also become the fastest growing site on the web with 100% yearly growth. As it is allowing unlimited downloads and uploads it is gaining more customers. Every day the group of developers and designers are working to progress and advance the sharing interest to make it best for its customers.

    MediaFire – Competitors

    The top competitors of the company are Onehub, Tresorit and ArchiverFS.

    • Onehub is a secured file sharing and storage service built for various businesses. It has a role-based permission structure which means the user can control whoever is accessing his/her content and can also share business files with confidence.
    • Tresorit is an ultra-secure platform. It has got an end to end encrypted file sync & sharing subscription model. It is accessible to its users anywhere and at any point of time.
    • ArchiverFS provides file archiving solutions to its customers. It features a tiny footprint on the host system.

    MediaFire handles all the file needs. It has made the storage issue easier now. It has got powerful features which can’t be found anywhere else. It simplifies the workflow.

  • MeVero – A Digital Buddy to find your Passion and Purpose of Life!

    Not many people realize they have completely transformed their lives as they grow, leaving behind the happiness of pursuing their passion. The competitive and fast-paced life leaves limited time to perform chores of routine life and spare no time and resources for your passion which was once your key task of the day. This is a common problem for most people in today’s world.

    While many try to manage their time to reconnect with the long-lost passion, they don’t get motivated due to limited knowledge and failure to connect with people with a similar passion. But this is where you need a platform like MeVero which can help you discover the real you.

    MeVero enables an user to effectively pursue his/her passion. It offers a host of Services, Applications & Tools which the user can use to pursue the area of passion.

    MeVero – Company Highlights

    Startup Name MeVero
    Headquarter Palo Alto, California
    Sector EdTech
    Founders Kaushik Banerjee, Aritra Sarkar & Dipankar Ganguly
    Founded October 2018
    Parent Organization Wedoria Technologies
    Website mevero.com

    About MeVero and How it Works
    MeVero – Product/Services
    MeVero – Target Market Size
    Founders of MeVero and team
    How was MeVero Started?
    MeVero – Name, Tagline, and Logo
    MeVero – Business Model and Revenue Model
    MeVero – Competitors
    MeVero – Growth
    MeVero – Future Plans

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    About MeVero and How it Works

    MeVero is the first global digital platform to offer Social + Knowledge + Services for the pursuit of passion. The platform has been completely built out of Kolkata, India. MeVero is probably the first Social media platform to be built from India. It connects its users to people of similar passion, so that strangers across the world can discuss, collaborate, create projects, and help each other pursue their passion. Following the belief, ‘happiness follows when you do what you truly love‘, the founders conceptualized MeVero – a Happiness Tech Platform.

    MeVero is India’s first AI-powered platform of applications and tools for the effective pursuit of happiness. It enables people to pursue their life purpose(s) whereby they can learn, create, network, collaborate and join constructive communities based on common goals, undertake and showcase projects and finally monetize their skills. To define it better, MeVero is:

    • Socially Enabled Pursuit of Passion – connect people of similar passion around the world,
    • Personalized Knowledge – intelligent curation and personalization of knowledge around the area of passion,
    • Aggregation of Services for Pursuit of Passion – various tools & services for supporting the efficient pursuit of any passion.

    MeVero – Product/Services

    Understanding the need of millennials, MeVero offers the following services:

    • Life Navigators: Certified Life Coaches on the platform whom you can consult for understanding how to effectively pursue your passion. The first of its kind in the world.
    • Creation Tools: Online creation tools through which you can use to create and edit video, audio, image, photos, documents, spreadsheets, presentations.
    • Courses: A host of courses and programs in your passion offered in association with credible global e-learning platforms.
    • Learning Gallery: A pool of books, case studies, audio dramas, audiobooks, motion comics all devoted to help you understand what barriers you are facing and find inspiration from people who had broken these barriers and pursued their passion successfully.

    They also offers content from specific Web resources for the content types, such as:

    All are curated intelligently and personalized around a user’s area of passion.

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    MeVero – Target Market Size

    As per an estimate, globally there are 220 million English speaking people on the Internet, who are unable to follow their passion effectively leading to disgruntlement and confusion. MeVero promises a 15 Minute of Happiness in the daily life of millennials, by personalizing their journey in every step of following their passion.

    Founders of MeVero and team

    Founders of MeVero are Aritra Sarkar, Dipankar Ganguly, and Kaushik Banerjee.

    Founders of MeVero
    Founders of MeVero

    Kaushik Banerjee – Kaushik is the Co-founder and CEO of MeVero Inc. and an alumnus of Jadavpur University and IIM Lucknow. He spent 26 years in Marketing, Sales, Strategy and Profit Centre operations spanning across FMCG, Durables, Fashion, Telecom & Media. Kaushik was the Vice President & SBU Head of Anandabazar Patrika Group from April 2007 to September 2012. There he built the Digital Business from scratch and generated a revenue of USD 1 million in the first full year of operation.

    Aritra Sarkar – Aritra is the Co-founder of MeVero Inc who spent more than ten years working in the media in both the US and India—where he handled corporate strategy, business development, and integrated marketing for two multi-media conglomerates.

    Dipankar Ganguly – Co-Founder & CTO, Dipankar has over 25 years of global IT experience having served in different technology leadership roles at companies such as IBM, iGate, Tata Unisys, etc.

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    How was MeVero Started?

    Both, Co-founders of MeVero, Kaushik and Aritra, had a long run in the Corporate world before commencing MeVero. Both were disillusioned with the pandemic of employee dissatisfaction rampant across all companies. They realized the potential and need for a global community of people pursuing their passion that will connect its users to people of similar passion, so that strangers across the world can discuss, collaborate, create projects and help each other pursue their individual passion.

    Aritra set up his first tech venture, Wedoria Technologies in 2012, with a mission to help every human being find their purpose in life. In 2018, along with Kaushik, he started his second entrepreneurial venture, MeVero, to focus his efforts on enabling the pursuit of passions.

    MeVero logo
    MeVero logo

    MeVero’s tagline is “Find & Follow Your Passion in Life. Set Goals”.

    MeVero – Business Model and Revenue Model

    The business model of MeVero consists of:

    1. Online Advertisement – Native Ads in the App via Facebook Audience Network to generate revenue through Ad impressions.
    2. Cloud storage subscription – 500 MB Free for lifetime and plans starting $1/month after that.
    3. Tool package subscription – Creative tool packages like Rich Text Editor, Photo Editor, Video Editor, etc. starting $1.5/month.
    4. Commission on Life Navigation session booking – 25% commission on session booking amount (minimum $10/hour can be set as session fees by Life Coaches on MeVero).
    5. Premium subscription – Users receive a completely Ad-Free Experience and a Daily Personalized Passion Digest Newsletter curated and delivered to their inbox, starting $1/month.

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    MeVero – Competitors

    It is the first platform which tries to address the entire problem, so it has no competitors currently.

    MeVero – Growth

    MeVero launched its beta version product in October 2018 and today it has 100K+ Registered Users across 221 countries. The platform has recorded 200K+ App Downloads, 5K+ Content Downloads, 90K+ Veda Chats, 1K+ Firesides Created and 10K+ Goals Set. The company has lately launched MeVero 2.0 with enhanced features and a user-friendly website.

    MeVero – Future Plans

    Currently, MeVero Inc. is looking to raise capital to fund its technical development and user acquisition, and scale to 5 million users by June 2021.

  • Droice Labs – Harnessing AI to Deliver Data-Driven Personalized Medicine!

    Healthcare deeply and meaningfully impacts every single person on earth. Droice Labs was started with a belief that they can make healthcare sector better, a lot better, by empowering decisions based on data, and that AI is a tool that can empower doctors to provide higher quality care.  

    Droice Labs’ technology leverages a combination of the latest medical research and learning algorithms to offer doctors with critical real-time data to make the right decision, enabling doctors to improve patient outcomes and streamline patient flow through health systems. Read this article to know about Droice Labs, products/services, founders & team, and achievements.

    Droice Labs – Company Highlights

    Startup Name Droice Labs
    Headquarter New York
    Sector Healthcare
    Founders Mayur Saxena, Ashanideepta Bhattacharya, Tasha Nagamine, Harshit Saxena, Aleksandr Makarov, Dr. John Kahoun
    Founded 2016
    Parent Organization Droice INC
    Website droicelabs.com
    Contact hello@droicelabs.com

    About Droice Labs and How it Works
    Droice Labs – Target Market Size
    Droice Labs – Product/Services
    Founders of Droice Labs and team
    Droice Labs – Recognition and Achievements
    Droice Labs – Future Plans

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    About Droice Labs and How it Works

    Droice Labs is an AI company specializing in understanding real-world clinical data to solve problems across the healthcare system. Its solutions provide answers to the key questions that healthcare entities have, helping them to make optimal decisions and to better understand diseases and the patients they affect.

    The company uses the latest advances in machine learning and analytics to build products that streamline clinical workflow and help doctors make the best decisions in the toughest of circumstances, faster. Their versatile AI pipeline can be integrated with a large range of healthcare data sources such as Electronic Medical Record systems. These products affect millions of clinical decisions every day and have touched the lives of millions of patients.

    Droice Labs Logo
    Droice Labs Logo

    “We use this technology to help payers, providers, and hospital finance teams to fill documentation correctly, capture missed revenue, and fill care gaps. With our deep patient and disease understanding engine, we also help payers detect over-billing, design better plans and prioritize the right interventions to cover”, said Mayur Saxena, CEO of Droice Labs.

    The company’s multidisciplinary team of doctors, data scientists, engineers, researchers, and security experts is passionate about transforming healthcare by empowering data-driven healthcare decisions. They have a very open environment where people are encouraged to share new ideas. The team is intelligent, curious, ambitious, imaginative, and passionate about technology.

    Droice Labs – Target Market Size

    The company’s target is the global healthcare market. Currently, it is active in the US & Europe where the total market size for the values it creates for healthcare systems is approximately $20B and growing.

    The company’s offerings also cater to R&D and Medical Affairs departments within life sciences companies in the area of Real World Evidence studies and intelligence, and the total current market size for these services is over $100B globally.

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    Droice Labs – Product/Services

    Droice Labs’ flagship product, Droice Hawk is an AI-based platform that helps doctors, hospitals, life sciences, and payers make more informed decisions and improve outcomes. The core of Hawk technology is the company’s medical language understanding engine Flamingo, which is trained on billions of diverse clinical notes.

    Flamingo can find meaning in free form medical text in multiple languages including English, French, German, and Russian, and can easily incorporate new languages. This technology is used alongside other states of the art machine learning methods to deliver unprecedented real-time insights and action plans at both population and individual patient levels.

    Hawk can sift through both structured and free form data from disparate patient data sources like electronic medical records, lab systems, claims databases, and pharmacy systems to generate high-resolution snapshots of patients. These insights delivered by Hawk help key stakeholders in the healthcare space to make better healthcare decisions for all:

    1. Hospitals gain revenue in risk-sharing contracts and provide better, more efficient care.
    2. Payers can detect overbilling, design better plans, and prioritize the right interventions to cover.
    3. Life sciences companies can identify populations and cohorts for driving real-world evidence on certain conditions and therapies, understand the market better, and conduct high-impact research.

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    Founders of Droice Labs and team

    Droice Labs was founded by Mayur Saxena, Ashanideepta Bhattacharya, Tasha Nagamine, Harshit Saxena, Aleksandr Makarov, and Dr. John Kahoun.

    The team of Droice Labs is composed of people with world-level expertise in Healthcare Business, Medicine, Artificial Intelligence, Natural Language Understanding, and Life Sciences data-driven research.

    Mayur Saxena, Ph.D. | CEO: Mayur has been part of several high growth startups. He has spent the last decade in healthcare data strategy and precision medicine. He is the Cofounder of Ardent Cell Technologies, a cell therapeutics company in the diabetes space, where the technology is undergoing human clinical trials.

    Co-founder and CEO of Droice Labs
    Mayur Saxena

    Previously, Mayur worked with some of the largest management consulting firms designing a strategy for artificial intelligence-based healthcare offerings. He currently advises several companies on AI strategy and the “data play”.

    Tasha Nagamine, MS | Data science: Tasha specializes in a special domain of AI — biologically inspired neural networks. As part of her Ph.D. work at Columbia University, she developed cutting-edge technologies to elucidate the reasoning behind neural network-based predictions.

    Co-founder and Chief AI Officer
    Tasha Nagamine

    At Droice, Tasha leads the AI team to develop state of the art technology that understands a doctor’s thought process through natural language understanding.

    Harshit Saxena, MS | Engineering: Harshit manages the integration of cutting-edge AI solutions in large healthcare enterprises. Previously, he led product integration and development teams at GE and Oracle.

    Co-founder and COO
    Harshit Saxena

    He studied machine learning in his MS at Columbia University and worked alongside industry and academia on computer vision technologies for autonomous vehicles and other automatic AR, 3D mapping applications.

    Ashanideepta Bhattacharya, MS | Engineering: Deep is a Certified Ethical Hacker and a Cybersecurity Master’s graduate from New York University who has prior experience in penetration testing, incident response, technical investigations, business continuity, and disaster recovery.

    Co-founder and Chief Information Security Officer
    Deep Bhattacharya

    As CISO, his mission includes creating a “risk aware” culture that places a high value on securing and protecting the information entrusted to Droice.

    Alekandr Makarov, MS | Business development: He completed his masters in Data Science from Columbia University. Before joining Columbia for his Masters, Alex was the Head of Business Intelligence for FoodPanda HK, a Hong Kong-based part of a global mobile-based food delivery company.

    Co-founder and CBDO
    Aleksandr Makarov

    He has also been heavily involved in several projects at IBM in Moscow around big data analytics and machine learning.

    Dr. John Kahoun, MD | Clinical: He is a founding partner of one of the biggest urgent care chains in the United States (CityMD, acquired by Warburg Pincus for ~600 million USD). He received his medical degree from the University of Wisconsin School of Medicine and Public Health and has been in practice for more than 20 years.

    Co-founder and Chief Medical Technology Officer
    Dr. John Kahoun

    He helps Droice understand hospital systems and provide clinical insights that allow for the packaging of the powerful underlying technology to a format suitable for the end-users.

    Rourke M. Yeakley, MD | Head of Innovation: Dr. Rourke Yeakley is a Board Certified Emergency Medicine Physician for over 15 years and heads innovation at Droice Labs. He is the founder of Precision EM, dedicated to the development and application of precision medicine for emergency medical care.

    Dr. Yeakley is affiliated with St Luke’s Boise Medical Center where he is the Medical Director, Air since 2007, and at St Luke’s Meridian Medical Center. Dr. Yeakley is also the inventor of Avepax medical device for single-dose delivery of liquid medications, vaccines, and Nutritionals that are mixed at the point of care.

    Tadd Spering | Chief Business Officer: Tadd has held senior sales, management, and product development positions at HSBC and Catamaran, in addition to founding a web design company while earning his degree in International Business and Management at Dickinson College.

    Tadd’s varied skills have helped him build a world-class team at Stylinity while also serving as CEO and lead hardware engineer. Tadd has been featured in Forbes and as a panelist at PricewaterhouseCoopers.

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    Droice Labs – Recognition and Achievements

    The company has participated in multiple highly selective accelerators: Arkansas Healthtech, SAP.io Foundry, Philips Healthworks, NVIDIA Inception, IE Entrepreneurship Columbia, Almaworks, HITLAB Digital health breakthrough network.

    It has also won following awards: Rice Business Plan Competition, StartUp Exchange, Issue #32, Lee Kuan Yew Global Business Plan, GoTech GoGlobal Grand Prize, Innovation Time Awards (Best New Project in Medicine and Healthcare, Columbia Venture Competition, CVC Technology Challenge, Frenchfounders, HFMA virtual pitch, etc.

    Droice Labs – Future Plans

    Over the next 5 years, Droice Labs target to expand even further and be the biggest tech-enabled clinical research organisation in the world affecting hundreds of millions of patient lives every year.

  • Adapty – Increase Revenue from Mobile Subscriptions!

    Competition is extremely high now among mobile developers, so it’s important to manage customer retention, find the right price for each user, and precisely calculate unit economy. Therefore, there is a need for a one-stop tool for mobile subscriptions with a focus on marketing. Vitaly Davydov and Kirill Potekhin founded Adapty which is a service for analyzing and growing mobile in-app subscriptions.

    Read this article to know about Adapty.io, services, founders, logo, business model, funding, wiki, and investors.

    Adapty – Company Highlights

    Startup Name Adapty
    Headquarter New York with a dev team in eastern Europe
    Sector B2B SaaS
    Founders Vitaly Davydov, Kirill Potekhin
    Founded 2019
    Legal Name Adapty Tech Inc.
    Website adapty.io

    About Adapty and How it Works
    Adapty – Target Market Size
    How was Adapty Started?
    Adapty – Product/Services
    Founders of Adapty and team
    Adapty – Name, Tagline, and Logo
    Adapty – Business Model and Revenue Model
    Adapty – Startup Launch
    Adapty – Funding and Investors

    About Adapty and How it Works

    Adapty is a service for analyzing and growing mobile in-app subscriptions. The company builds a set of tools that help mobile developers and marketers to increase the conversion rate to paid subscribers and manage subscription infrastructure.

    “Only in the App Store, there are over 2M apps and 90% of them are monetized with an in-app subscription. 5 years ago when we were working on Easy Ten (mobile language learning app), market was 10 times smaller than now. So we see that subscription is dominating the mobile market”, says Vitaly Davydov, Adapty founder.

    Adapty Features
    Adapty Features

    Adapty.io is a service for growing mobile subscriptions. It has the following features:

    • Quickly deploy in-apps with mobile SDK
    • Increase revenue with A/B testing for paywalls
    • Convert more subscribers with Promo campaigns
    • Analyze recurring payments with Dashboard

    It also integrates with 3rd party analytics and attribution services and forward subscription events to them.

    Adapty – Target Market Size

    According to App Annie, 94% of top-250 apps are monetized with in-app subscriptions. Only on iOS mobile, apps have made $4.6B in revenue and the number of subscribers has grown 5 times for the last 5 years. So mobile subscriptions are dominating the market. It’s pretty hard to guess what the next instrument will be for mobile monetization, but it’s for sure that it’d be recurring. Such payments are profitable both for mobile developers and Apple/Google, remember that vendors take 30% cut.

    Also read: Pabbly Connect: One Platform to Automate All Your Integrations

    How was Adapty Started?

    Adapty was started as an internal product for solving the co-founder’s own needs. One day, they realized that there’s a market for the product! They’ve seen some companies appearing with similar products and decided to join the race. The founders talked with 12 mobile devs companies and they all confirmed a need for features they’d like to develop. So, Vitaly and Kirill started Adapty.

    “After 4 months, we had an MVP and got our first customer. After that, we acquired 5 more and started to work with them very tightly so that they use Adapty on a daily basis”, recalls Vitaly.

    Adapty – Product/Services

    Adapty works in two modes. The first one is available without any coding and from a Free plan. Add App Store Connect credentials and you’ll get detailed analytics and reports. Real work starts with the SDK installation. It’s written in pure Swift (Kotlin for Android) and weights 100Kb.

    Implementing subscriptions in the app is really a pain, it requires a server to validate receipt, handling events from Apple, linking events to a user, and finally store it somewhere. It usually takes at least 3 months to correctly deploy subs without losing data. But with Adapty, SDK companies can deploy in-app subscriptions super easy in the app and sync subscribers between platforms including the web.

    But this feature is just a start. The dealbreaker is paywall A/B testing. It allows customers to customize UI and change products on paywall without app release. Companies can tune pricing for different cohorts and grow revenue.

    The last big feature is a promo campaign in push notifications. 97% of mobile app users are freemium, but some of them are willing to subscribe, but they need a little push. Sending a limited discount subscription offer might be a nice thing to do.

    Adapty is a one-stop tool developer and marketers need to work with a subscription. Some features can be replaced via 3rd party services, but getting all in one place when it’s related to the economy is important for a business.

    Relevant read: List of Free Tools You Can Get While Working From Home | Deals on Tools in Coronavirus

    Founders of Adapty and team

    Adapty is founded by Vitaly Davydov and Kirill Potekhin.

    Owner of adapty
    Kirill Potekhin and Vitaly Davydov | Founders of Adapty

    Vitaly Davydov is the Co-founder and CEO and Kirill Potekhin is the Co-founder and CTO of Adapty.

    The co-founders have been working together for 6 years. They’re a team of 11 people now, most of them are engineers. Everyone in the team has tech backgrounds in computer science, however they split out responsibilities.

    It’s a legacy. Vitaly and Kirill started another product in 2016 and it was doing ad optimization via adaptation. That’s how they get Adapty.

    Adapty Logo
    Adapty Logo

    Adapty – Business Model and Revenue Model

    Adapty.io has a freemium SaaS business model. Core features such as SDK for payments are available right on a Free plan. They have 2 paid plans starting from $99/month.

    Also read: Appsumo LifeTime Deals with Comparison – [May 2020]

    Adapty – Startup Launch

    The startup grew organically and used the network to start. After that, it launched on Product Hunt.