Latest News
Snapdeal Cofounders Write To Employees After Terminating Flipkart Deal
Published
7 years agoon
Snapdeal recently decided to go their own independent route and declined the $ 900 million takeover offer from Flipkart. After the collapse of the merger, many senior level executives including the Vice President of Product Pradeep Desai, the Vice President of Engineering Viraj Chatterjee and the Head of IT Gaurav Gupta quit the ecommerce company. The company had laid off close to 600 employees earlier this year, across the ecommerce marketplace and its subsidiaries, FreeCharge and Vulcan Express.
While Snapdeal has successfully sold its online payments arm FreeCharge to Axis Bank, the future of the logistics arm Vulcan Express still hangs in the balance. The founders Kunal Bahl and Rohit Bansal, who have been hesitant about the Flipkart merger since the beginning, released a letter to the employees speaking about the future of Snapdeal. In the letter, the founders touched upon various issues including the ecommerce market in India and their journey as an independent entity. They even spoke about the extensive media coverage the deal received and the complexities it involved.
Both the cofounders firmly believe in the new direction, Snapdeal 2.0, the company must take and the laser focus required to become a ‘champion’ online market space. They aim to make around Rs. 150 crores gross profit in the next 12 months, with a tight control on costs and higher efficiency.
“Success is never final, failure is rarely fatal; it is the courage to continue that counts,” the letter added. The fate of this ecommerce company at present remains uncertain, despite the high hopes of the cofounders. One thing that remains certain is that the immediate sale of their logistics arm Vulcan Express, acquired in 2015, will deeply influence the growth of Snapdeal 2.0.
You can find the complete letter here –
Dear Team,
Over the last few months, our company has been engaged in strategic discussions with other players. A lot of time and effort has gone into the process from all participants in this exhausting process. The process has led to intense speculations and uncertainty for our team, partners and shareholders. And now it is time to finally put an end to this saga.
We will be continuing the Snapdeal journey as an independent company. As we have often discussed, the opportunity of e-commerce in India is immense, and the surface of this $200 Billion market has barely been scratched yet. We have a tremendous team, millions of loyal customers, hundreds of thousands of motivated sellers and a phenomenal platform that has been built with years of effort.
All the ingredients of success have always been there in our company. And after the last few months of tumultuousness, it is time to focus on the business and leverage all our strengths to progress towards our vision of building the best marketplace to connect buyers to sellers in India.
The good question to ask is why are we moving down an independent path, when so much effort went into determining a strategic combination. There are a few reasons for this, which go beyond the fact that the deal being contemplated was incredibly complex to execute as reported extensively by the media.
Firstly, there isn’t going to be one successful model for e-commerce in India. In every market, there are multiple successful e-commerce businesses, and as long as one’s strategy is differentiated and has a clear path to success, there is a great company that can be built. We firmly believe in our new direction – Snapdeal 2.0 – part of which is a laser focus on being a champion for all sellers in India, enabling anyone to setup a store online in a few minutes and focusing on providing large selection of products at great prices to consumers.
Secondly, we have made tremendous progress towards this new path over the last few months and are already profitable at an gross profit (a.k.a. net margin) level, with clear visibility to making upwards of Rs 150 Crores in gross profit in the next 12 months.
Finally, with the ongoing streamlining of costs and sale of some of our assets, such as Freecharge, we are financially self sufficient as a company and don’t need to raise additional capital to reach profitability. Needless to say, we will need to keep a tight control on our costs and work towards becoming a hyper efficient culture delivering profitable growth, month on month.
Success is never final, failure is rarely fatal; it is the courage to continue that counts. Let’s work together to make Snapdeal 2.0 a super success!
Thanks!
Kunal & Rohit
You may like
Latest News
Shining Bright: The VedaOils Story of Success in Candle Industry
Published
5 hours agoon
October 14, 2024VedaOils is one of the leading suppliers of candle waxes, wicks, and other supplies. We provide everything that you need to make impressive DIY candles at home. Also, our bulk supplies ensure that you don’t have to go anywhere to produce candles in bulk. This blog covers the hallmarks of our candle wax and supplies business.
How VedaOils Earned Place as Trusted Name in Candle Industry?
The following things helped us in emerging as a trusted name in the candle wax industry:
-
Our Exclusive Candle Wax Selection
We have a selection of exclusive candle waxes that includes soy wax, paraffin wax, carnauba wax, and more. Moreover, each of these types of wax is available in different forms such as pellets, powders, etc. So, you can choose the wax type and form that compliments your candle making business.
-
Best Quality of Waxes
At VedaOils, we provide the best quality candle waxes at wholesale rates. The quality will not be compromised even when you purchase them in bulk quantities.
-
Study Guides
You will find a lot of information about candle making and related business on our site. These informative details will help you grow your candle making business or start it from scratch.
-
Reasonable Prices
As we produce candle wax in bulk, we offer them at reasonable prices to our clients. You can also avail attractive deals and discounts on bulk purchases.
What Makes VedaOils Different from Other Brands?
The things that make us stand apart from other brands in the market are highlighted below:
-
Top Quality & Best Price in Market
No brand comes closer to us when it comes to offering top-quality candle waxes at affordable rates. We assure you of providing the best prices in the market without compromising on the quality.
-
Variety of Products
Our B2B business is not limited to just producing candle waxes. We provide candle wick, Moulds, jars, and all the other supplies as well. This makes us the one-stop solution for your candle making business.
-
Bulk and Wholesale Options for Small & Big Businesses
We offer candle wax in bulk quantities. So, both small and big businesses can order candle wax from us according to their requirements.
-
Outstanding Customer Service After Sales & Service
Our commitment to excellence shows from the exceptional after sales services we provide to our customers. We adopt a flexible return policy to help our clients get the best quality candle wax at all times.
-
Express Shipping Everywhere
Our partnerships with the top logistics companies across the world helps us deliver our products everywhere. So, you can now order our candle wax from any part of the world.
How VedaOils is Shaping the Future of Candle Industry In Worldwide?
VedaOils delivers the promise of shaping the future of candle waxes through these means:
-
Promise to Be Eco-Friendly
VedaOils is committed to offering eco-friendly solutions to our clients. So, we employ all the standard eco-friendly manufacturing and packaging practices.
-
Innovative Marketing & Product Development
With innovative marketing and product development strategies, we try to promote our offerings across the world. You can also tie-up with us to promote your candle making business now!
-
Quality Control Measures
We adopt a strict policy when it comes to following quality control measures. This helps us to deliver premium quality candle waxes at all times.
CEO Future Vision For VedaOils
Aayush Gupta, the CEO and founder of VedaOils wants to expand the candle wax business across the world. With new markets being captured with each passing year, we envision to be the leading candle supplies manufacturer in the globe.
VedaOils in the Spotlight: Our Key Achievements and Honors!
The success of our brand reflects in the numerous events and seminars we have organised and participated in for candle makers around the world. Our latest innovations and launches in this segment shows why we are the leading supplier of candle wax in India.
Conclusion
These were some of the things that you must know before ordering candle wax from us. We offer great deals and discounted rates to our B2B clients. Contact us today or visit our website to order our candle making wax today!
Latest News
Gemini Assistant Enhances User Experience with New Integrations for WhatsApp and Spotify!
Published
1 day agoon
October 13, 2024Gemini, the virtual assistant integrated into Android as an alternative to Google Assistant, is reportedly enhancing its capabilities with new extensions for WhatsApp and Spotify. Initially designed to answer queries, generate text, and search the web, Gemini’s third-party app integration had been limited. However, recent developments indicate that Gemini will now support these popular apps through new extension features.
New Functionalities for Gemini
According to an Android Authority report, these new capabilities were discovered in the Google app’s Android beta version 15.40.31.29 by tipster Assemble Debug. Although the feature has not yet been rolled out to beta testers, it is anticipated that activating the extension will introduce a prompt card indicating that Google Assistant actions are being replaced with Gemini Extensions. To utilize these extensions, users will need to keep the Gemini app activity turned on.
WhatsApp Integration
Once activated, Gemini will learn the user’s preferred app for calling or texting specific contacts. It will automatically select this preferred app by default, although users can adjust their preferences and disable any extension from the activity menu. The tipster successfully activated the WhatsApp extension, allowing users to send text messages to designated contacts using voice commands, similar to Google Assistant.
When invoked, the Gemini assistant interface displays an app card that users can click to enter WhatsApp and review their messages. This extension also permits users to edit messages before sending them and initiate voice calls directly through WhatsApp.
Spotify Integration
In addition, the extension for Spotify reportedly works for both free and Premium users. Users can prompt Gemini to play a specific song on Spotify, and the assistant will automatically start playback. Similar to WhatsApp, a Spotify card appears after the command is executed, allowing users to tap it to access the selected song within the app.
Importance of Enhanced Integration
The introduction of these extensions marks a significant step forward for Gemini as it seeks to enhance user experience and streamline interactions with popular applications. By integrating with widely used platforms like WhatsApp and Spotify, Gemini aims to provide a more cohesive and efficient user experience.
Competitive Landscape
This move positions Gemini as a strong competitor in the virtual assistant space, particularly against established players like Amazon’s Alexa and Apple’s Siri. By enabling deeper integration with third-party apps, Google is actively working on expanding Gemini’s capabilities and personalization features.
Conclusion
The anticipated rollout of WhatsApp and Spotify extensions for Gemini represents a significant enhancement in functionality for Google’s virtual assistant. As it continues to evolve, Gemini aims to offer users a more personalized experience while streamlining communication and entertainment options directly through voice commands. This development not only reflects Google’s commitment to improving its AI offerings but also highlights the growing importance of seamless integration in today’s digital landscape.
Artificial Intelligence
Google Photos May Soon Add AI Attribution to Combat Deepfakes!
Published
2 days agoon
October 12, 2024Google Photos is reportedly developing a new feature that would allow users to determine whether an image was generated or enhanced using artificial intelligence (AI). This functionality aims to provide transparency and help users identify AI-generated content, potentially reducing the spread of deepfakes and misinformation.
Introduction of AI Attribution
According to recent reports, Google Photos is working on adding ID resource tags that will reveal details about the AI origin of an image, along with the digital source type. However, it remains unclear how exactly this information will be displayed to users. The introduction of such a feature aligns with growing concerns over the proliferation of deepfakes—manipulated media that can mislead viewers and create false narratives.
Tackling Deepfakes
Deepfakes have become a significant issue, as they can be used to spread misinformation or create misleading media. A notable example includes actor Amitabh Bachchan, who filed a lawsuit against a company for running deepfake video ads featuring him without consent. This highlights the urgent need for tools that can help users verify the authenticity of digital content.
How Will This Work?
As per an Android Authority report, the upcoming feature in Google Photos could allow users to verify if an image was digitally generated using AI. While this feature has been found in the layout files of the Google Photos app (version 7.3), it is currently inactive. The app contains strings of XML code suggesting the addition of “ai_info” and “digital_source_type” tags in the metadata, which could help users identify whether an image was created or enhanced by AI tools like Gemini or Midjourney.
Potential Integration with EXIF Data
While details remain unclear, Google could embed this AI attribution information within the Exchangeable Image File Format (EXIF) data of images. However, this might require users to access metadata to view AI-related information, making it less visible. Alternatively, the app might display an on-image badge to clearly indicate that the image was AI-generated or enhanced, similar to how Meta labels manipulated content on platforms like Instagram.
Importance of User Awareness
This feature could prove crucial in increasing user awareness and protecting against the misuse of AI-generated content, especially in light of the rise of deepfakes. By providing clear attribution regarding the origins of images, Google aims to empower users with the information needed to discern genuine content from manipulated media.
Broader Context: Enhancements in User Experience
In addition to this potential feature, Google Photos is also rolling out other enhancements aimed at improving user experience. For instance, recent updates have introduced advanced editing tools powered by AI, allowing users to enhance their photos effortlessly.
Conclusion
The development of AI attribution in Google Photos represents a proactive approach to combating misinformation and enhancing user trust in digital content. As deepfakes become increasingly sophisticated and prevalent, features like these will be essential for maintaining transparency and integrity in online communications. By empowering users with tools to verify content authenticity, Google is taking significant steps toward fostering a safer digital environment.
Recent Posts
- Shining Bright: The VedaOils Story of Success in Candle Industry
- Gemini Assistant Enhances User Experience with New Integrations for WhatsApp and Spotify!
- Google Photos May Soon Add AI Attribution to Combat Deepfakes!
- WhatsApp Brings Chat-Specific Themes to Android Beta, Mimicking Messenger Customization Features!
- TikTok Cuts Hundreds of Jobs as Focus Shifts to AI-Driven Content Moderation!
- Tesla CEO Elon Musk Unveils ‘Cybercab’ and ‘Robovan’ as Focus Shifts Toward Full Automation!
- Airtel’s Strategic Move: The Potential Acquisition of Tata Play and Its Impact on the DTH Landscape!
- Ratan Tata Leaves a Legacy: Who Will Lead Tata Trusts Forward?
- RIP Ratan Tata: The Trailblazing Industrialist’s!
- Tata Stocks Respond to Ratan Tata’s Passing!
- The Ratan Tata You Never Knew: A Journey Beyond Boardrooms!
- Ratan Tata: Six Tata Group Companies Record Astonishing Returns of Up to 1,500% in Five Years!
- Ratan Tata’s Passing: A Global Loss Remembered by Bill Gates and Industry Leaders!
- Remembering Ratan Tata: A Legacy of Leadership, Innovation, and Philanthropy!
- Sachin Tendulkar Joins Bank of Baroda as Global Brand Ambassador: A Strategic Partnership for Growth!
- Swiggy Secures ‘Shark Tank India’ Sponsorship as Zomato Faces Leadership Changes!
- Andhra Pradesh Hotels Association Announces Boycott of Swiggy Over Unethical Practices and Payment Delays!
- Zomato CEO Deepinder Goyal’s Day as a Delivery Agent: A Call for Change in Worker Treatment!
- OpenAI Launches Canvas: A Revolutionary Interface for Enhanced Collaboration in Writing and Coding!
- Is Samantha Prabhu joining Secret Alchemist to launch a new era of wellness and aromatherapy?