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Amazon Prime Day Sale Takes A Glitchy Start!

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Amazon Prime Day Sale,Startup Stories,Startup News India,Latest Business News 2018,Amazon Prime Day 2018,Amazon Latest News,Amazon Prime Day Sale 2018,Amazon Prime Day Best Deals,Amazon Website Crashes,Amazon Faces Web Issues


“Sorry something went wrong on our end.”

This message popped up on most people’s website who were heading over to Amazon websites on Prime Day. All the shopaholics were eagerly waiting for the countdown to the Prime Day Sale but their expectations were shattered. 

The e commerce giant Amazon went through a glitch at the start of its very famous 36 hour online sales bonanza. People were immensely infuriated by this glitch and many users even switched to other websites, in anger. The issues are centred on the US based website but are occurring in other continents too. Some users faced an error page featuring the “dogs of Amazon” and were unable to load the site, while others could not enter specific product pages.

People were not able to complete purchases at checkout, while others reported that the “deals” page and “Shop all deals” button had disappeared from the site. A lot of glitches were faced by users across the countries! Amazon took to its official Twitter handle to say with regard to the sale day. Here is what they tweeted! 

 

Apart from the US, the issues with Amazon’s sites are faced in Europe, Africa, South America, Russia, Asia and Australia.

Amazon launched its Prime Sale Day in 2015 and by the end of 2017, it was its second biggest shopping day all over the world. According to an analysis by Coresight Research, last year’s Prime Day sale was estimated to have generated about $ 2.4 billion in sales and this year’s 36 hours sale was predicted to reach $ 3.4 billion. As of now, it appears the company’s website is now functioning normally for some users while Amazon works to resolve the issue. Many are still reporting issues with adding items to their carts, checkout and just getting into the deals portal from Amazon’s homepage.

Amazon, you really need to buckle up and fix the issues for your beloved customers!

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Mercedes Hits the Brakes on EVs: Profit Woes Lead to Focus on Gas-Powered Cars

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StartupStories - Mercedes

Luxury carmaker Mercedes-Benz is experiencing a shift in gears, prioritizing gasoline-powered vehicles over its previously ambitious electric vehicle (EV) strategy. This comes after disappointing sales figures and shrinking profit margins for their electric offerings.

 

The Dream Runs out of Charge:

 

Mercedes, a leader in the luxury car market, had set a goal to be fully electric by 2030. However, sluggish sales of their electric vehicles, particularly the high-end EQS and EQE sedans, have forced a recalibration of their plans. The company’s profit margin dipped to a concerning 9% in the first quarter of 2024, falling below their long-term target range.

 

Why the Slow Charge?

 

Several factors are contributing to the lackluster performance of Mercedes’ EVs:

 

  •  Price Point Pinch: The high price tag of Mercedes’ electric cars, ranging from $70,000 to $120,000, limits their appeal compared to more affordable electric options. 
  •  Competition Heats Up: Other luxury carmakers like Tesla and BMW are offering strong competition, with some even surpassing Mercedes in EV sales growth. 
  •  Infrastructure Concerns: Gaps in charging infrastructure and anxieties about range remain significant deterrents for potential EV buyers.

 

Back to the Drawing Board:

 

In response to these challenges, Mercedes CEO Ola Källenius announced a revised strategy. The company will:

 

  •  Extend Focus on Combustion Engines:  Production of gasoline-powered and hybrid vehicles will continue well into the 2030s, catering to customer demand.
  •  Rethink EV Strategy: Mercedes will analyze consumer preferences and market trends to refine their electric car offerings. This may involve focusing on more affordable models or improving features to enhance range and charging efficiency.

 

The Road Ahead

 

The shift by Mercedes highlights the complexities of the automotive industry’s transition to electric vehicles. It underscores the need for car manufacturers to balance ambitious environmental goals with the realities of consumer behavior and market competition.

 

Is this a Permanent Pause?

 

While Mercedes is putting the brakes on its all-electric vision, it doesn’t necessarily signal a complete retreat from EVs. The company may leverage this time to strengthen its electric offerings and ensure they are competitive in the rapidly evolving market. Only time will tell if Mercedes can reclaim its position as a leader in the electric vehicle race.

 

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Reddit Soars After Strong Earnings and Upbeat Outlook

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Reddit, the social media platform known for its online communities and meme culture, saw its stock price jump significantly after releasing its first earnings report since going public in March. Investors were impressed by the company’s strong financial performance and optimistic forecasts for the future.

 

The report highlighted a surge in user engagement, with daily active users increasing by 37% to 82.7 million in the first quarter. This growth was accompanied by an 8% rise in average revenue per user, indicating Reddit’s success in monetizing its platform. 

 

Perhaps the most significant factor driving the stock price increase was Reddit’s forecast for the second quarter. The company projected revenue to fall between $240 million and $255 million, exceeding analyst expectations. Additionally, Reddit anticipates achieving break-even status or even generating a profit, surpassing predictions of a loss.

 

This positive outlook can be attributed in part to Reddit’s flourishing advertising business. The company is also capitalizing on a new revenue stream: content licensing deals with artificial intelligence (AI) firms. Reddit’s vast collection of user-generated content provides valuable data for training AI models, attracting companies like Google.

 

Analysts believe Reddit is still in its early stages of monetization and predict continued growth in the coming quarters, fueled by advancements in ad targeting and measurement tools. This optimism is reflected in the stock price surge, which has climbed roughly 70% since Reddit’s IPO.

 

Overall, Reddit’s first earnings report paints a bright picture for the company’s future. With a thriving user base, increasing revenue opportunities, and a promising outlook, Reddit appears well-positioned for continued success in the ever-evolving social media landscape.

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Artificial Intelligence

The AI Video Revolution: How Sora is Reshaping Marketing

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Sora, an AI-powered video generation tool by OpenAI, has sent ripples of excitement through the marketing world. Its potential to create high-quality videos from simple descriptions is a game-changer, impacting how brands connect with audiences. 

Here’s how Sora is elevating engagement:

  • Hyper-realistic storytelling:  Sora can craft visually stunning videos in seconds. This lets marketers ditch expensive productions and create content that resonates deeply with viewers. Imagine a travel company whisking audiences away to exotic locales through captivating, AI-generated videos.
  • Personalized marketing on steroids:  Imagine video ads that speak directly to you, not a generic audience. Sora can personalize video content based on user data, creating a more impactful connection. A fitness app could use Sora to generate videos featuring exercises you enjoy, making the marketing message relevant and engaging.
  • Experimentation playground:  Sora empowers marketers to experiment freely.  Since creating video content becomes faster and cheaper, brands can test new concepts and narratives without breaking the bank. This fosters a culture of creativity and allows marketers to discover what truly clicks with their audience.

Of course, there are challenges. Integrating Sora seamlessly into existing workflows and maintaining the human touch in storytelling are aspects that require development. But Sora’s potential to revolutionize marketing by creating  engaging, personalized content at scale is undeniable.

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