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Startups Which Achieved The Unicorn Status In 2018

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Startups Achieved Unicorn Status,Startups Unicorn Status in 2018,Unicorn Startup India,Unicorn Startups 2018,Word Unicorn Trends 2018,Zomato,Oyo,Byju’s,Paytm Mall,Swiggy,Freshworks,Unicorn Startups in India 2018,New Indian Startup Unicorns,Best Startup Ideas 2018, Best Startups in India 2018,Startup Stories


The word unicorn started trending in the beginning of 2018 and to define the term simply, it refers to startups which have a valuation of more than $ 1 billion. As this year comes to a close, here’s taking a look at all the different startups which entered the billion dollar club and earned themselves the unicorn status.

1. Zomato 

Zomato, a food delivery and restaurant discovery startup based out of Gurugram, raised over $ 200 million in a funding round held in February 2018 and since then, there is no stopping the growth of this particular startup. With multiple rounds of investment from various areas, the valuation of Zomato increased by leaps and bounds and right now, toward the close of 2018, this particular food tech startup has an estimated valuation of $ 1.1 billion!

Picture credits: zomato.com

2. Oyo 

Founded in the year 2013, service apartment provider Oyo entered the Unicorn Club in September by raising $ 1 billion from existing investor, SoftBank. Founded by Ritesh Agarwal, Oyo has grown so much over the years in the last five years that it is now extremely popular in places like India, China, west Asia, the UK and the UAE.

Picture credits: oyorooms.com

3. Byju’s 

When Byju’s was initially founded, the startup barely had a major presence in India. However, through the years, Byju’s grew to become the next Indian startup to enter the Unicorn Club! Standing at a valuation of approximately $ 2 billion, Byju’s became the first startup in the edutech field in India to be valued at more than a billion dollars!

Picture credits: byjus.com

4. Paytm Mall

A subset of Paytm, Paytm Mall came to be in 2016 and with an investment of $ 450 million from existing investors, Paytm Mall is now valued at more than one billion dollars! Using the investments to improve their existing features and to better the customer experience, Paytm Mall will likely achieve $ 10 billion in merchandise volume. Furthermore, with the investment Paytm received, the app is looking at allowing customers to walk into offline stores, scan products through QR codes, go through information about the products and finally, purchase the product through the app.

Picture credits: hindustantimes.com

5. Swiggy 

Food delivery startup Swiggy raised $ 1 billion from Naspers and post that, the startup has grown to stand at a valuation of over 3.3 billion dollars! Not only is Swiggy the second food tech startup to enter the billion dollar club, it is also the fastest startup in India which grew to reach that place. The startup entered the Unicorn Club in just under four years, a feat which is truly commendable.

Picture credits: Swiggy.com

6. Freshworks 

Based out of Chennai, Freshworks is a software as a service (SaaS) provider, which entered the billion dollar club in August this year. Freshworks entered the Unicorn Club post securing a $ 100 million investment from Sequoia Capital, Accel Partners and CapitalG!

Picture credits: gb.advisors.com

With so many startups achieving the unicorn status through sheer hard work and dedication to innovation, the unicorn status is truly a coveted symbol to achieve. If you think we missed out on other startups in this field, comment and let us know!

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Supreme Court Puts End to Misleading Celebrity Endorsements 

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Supreme Court Of India

The Supreme Court of India has taken a strong stance against misleading advertisements featuring public figures, emphasizing their responsibility in promoting products. This decision comes in response to concerns about the influence celebrities and public figures hold over consumer choices.

 

The Heart of the Matter:

 

The court’s ruling highlights two key points:

 

  1. Shared Responsibility: Advertisers, advertising agencies, and the public figures endorsing products are all equally liable for issuing misleading advertisements. This means that celebrities can no longer simply lend their face to a product without due diligence. They are expected to have a good understanding of the product and its claims before endorsing it.

 

  1. Self-Declaration:  The court mandated a stricter protocol requiring advertisers to obtain a self-declaration from endorsers. This declaration, similar to the Cable Television Networks Rules (1994), ensures that the advertised product complies with existing laws and avoids offensive content.

 

Why it Matters:

 

Celebrity endorsements hold immense power in influencing consumer behavior. Consumers often trust the judgment of their favorite actors, athletes, or social media personalities. This trust can be exploited by promoting products with exaggerated claims or those lacking scientific backing. 

 

The Case that Triggered the Ruling:

 

The court’s decision stemmed from a case involving Patanjali Ayurved Ltd., a popular Indian consumer goods company, and yoga guru Ramdev. The Indian Medical Association (IMA) filed a plea against the company and Ramdev, accusing them of misleading advertisements and a smear campaign against COVID-19 vaccinations and modern medicine.

 

The Road Ahead:

 

This ruling is a significant step toward protecting consumers from deceptive marketing practices.  It encourages celebrities and public figures to be more selective and responsible about the products they endorse. Additionally, the court urged government bodies to implement procedures for consumers to easily report misleading advertisements. 

 

This move by the Supreme Court is likely to have a ripple effect across the advertising industry in India.  It will force companies to be more transparent and hold celebrities accountable for promoting products they don’t fully understand or that make unsubstantiated claims. 

 

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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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