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Amazon’s Founder, Jeff Bezos Becomes The Richest Man In The World!

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Amazon’s founder and principal shareholder Jeff Bezos became the first person in the 21st century whose net worth touched the big, fat $ 100 billion mark! This week’s Black Friday Sale boosted Amazon stock, which then proceeded to hit the roof! According to Bloomberg, there was a $ 2.4 billion rise in Bezos’s net worth as a result of this boom, making Bezos the richest person in the world!

Bill Gates was the first person in the world to cross the $ 100 billion mark in 1999. For a brief moment this year, Bezos’s crossed Bill Gates, however, Gates quickly reestablished his position back up front. Amazon saw a steady and speedy growth since its inception and is now the fourth largest company in the United States.

On 6 November 2017, Bezos sold one million shares in Amazon at a record high, netting himself a cool $1.1 billion in cash. He maintains a 16.4% stake in the online shopping giant and this increases his personal capital.

Amazon started off as an online bookstore and has now turned into a place where you can buy literally anything you want. Online purchases for this year’s Black Friday sale went up by 18.4%  when compared to last year’s sale, which in turn resulted in a massive boost to Bezos’s personal wealth.

While Jeff Bezos might have struck gold with the Black Friday Sale, workers across Italy and Germany decided to protest in different Amazon warehouses. The workers have now dubbed the Black Friday Sale as Strike Friday. Amazon workers took this extreme step in an attempt to send a strong message to the employees.

Amazon permanently endangers the health of its employees with its way of working. High pressure to create more and more in less time, permanent performance controls and monitoring, a poor leadership culture and inadequate recovery times are health hazards in the Amazon labor process,” Stefanie Nutzenberger Verdi, a board member, said.

So if you are one of the millions that shopped as a part of the Black Friday Sale, you have definitely personally contributed to Jeff Bezos’s wealth and have successfully helped in making him one of the three richest people in the United States!

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Blissclub Raises INR 33 Crore in Fresh Funding Months After Layoffs

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Blissclub, the women-centric D2C apparel brand, has raised INR 33 crore in a Pre-Series B funding round led by Elevation Capital, with Eight Roads Ventures also participating. This funding comes just three months after the company laid off 18% of its workforce-about 21 employees from creative, sales, marketing, growth, and product teams-due to high cash burn and challenges in securing new capital.

The latest investment was made through the allotment of 16,076 compulsory convertible preference shares (CCPS) at a premium of INR 20,428 each. Elevation Capital invested INR 19 crore, securing a 24.5% stake, while Eight Roads Ventures contributed INR 14 crore, raising its stake to 15.79%. The capital will be used for working capital, capital expenditure, and general corporate purposes.

Founded in 2020 by Minu Margeret, Blissclub started as an online activewear brand for women and has since diversified its product range and established offline stores. Despite recent restructuring, the company’s revenue grew 27% to INR 86.9 crore in FY24 from INR 68.3 crore in FY23, though net losses also increased to INR 43.9 crore.

Blissclub’s successful fundraising, despite recent layoffs, underscores both the ongoing challenges and the resilience of India’s D2C startup sector in a difficult funding environment.

 

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Apple to Shift Entire US iPhone Assembly to India by 2026

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Apple is set to relocate all assembly of iPhones destined for the US market from China to India by the end of 2026, marking its biggest manufacturing shift in decades. The move is driven by escalating US-China trade tensions and steep tariffs—up to 145% on Chinese imports—making Chinese assembly increasingly costly for Apple. Although some smartphone imports are temporarily exempt, a 20% duty still applies to Chinese-made iPhones entering the US.

 

India, in contrast, offers a more favorable trade environment, with a paused 26% reciprocal tariff and ongoing negotiations for a bilateral trade deal with the US that could shield Indian exports from future levies. Apple plans to more than double its current iPhone output in India, aiming to assemble over 60 million units annually for the US market. The company already produces about 25% of its global iPhones in India, working with partners like Foxconn, Tata Electronics, and Pegatron.

 

This shift is part of Apple’s broader strategy to diversify its supply chain and reduce reliance on China amid geopolitical risks. However, the transition’s success will depend on how quickly India can scale up its manufacturing capabilities and the outcome of ongoing trade negotiations.


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PhonePe’s PINCODE Launches 10-Minute Medicine Delivery in Cities

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PhonePe’s PINCODE app has launched a 24×7 online medicine delivery service in Bangalore, Mumbai, and Pune, promising delivery of both prescription and over-the-counter medicines within 10 minutes from nearby local medical shops. Unlike conventional e-pharmacies that use dark stores, PINCODE partners exclusively with neighborhood pharmacies, enabling faster deliveries and supporting local businesses in the digital economy.

Customers without prescriptions can select a “no prescription” option when ordering; a qualified doctor then provides a free teleconsultation and issues a digital prescription compliant with telemedicine guidelines, ensuring seamless access to medicines. The app offers competitive pricing by passing discounts from local pharmacies directly to customers and charges no delivery fees.

PINCODE’s hyperlocal model enhances healthcare accessibility and convenience while empowering local pharmacies, helping them remain integral to their communities and stimulating local economic growth. Launched in 2023, the app focuses on quick commerce with an emphasis on speed, reliability, and supporting local sellers.

In summary, PhonePe’s PINCODE app is transforming medicine delivery in major Indian cities by combining ultra-fast 10-minute delivery, free doctor consultations, and a hyperlocal sourcing model that benefits both consumers and neighborhood pharmacies.

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