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Amazon Becomes The Second Most Valuable US Company

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Amazon Becomes Second Most Valuable US Company,Startup Stories,2018 Latest Business News,Best Motivational Stories,World Most Valuable US Company,Most Valued Publicly Listed Companies,Most Valuable Companies 2018,Amazon Market Value

As the stock market closed on Tuesday end of business, a brand new discovery was made. For the first time in history, Amazon surpassed its parent company and became the second most valuable publicly listed US company!

Amazon shares closed at 2.69% at $ 1,581, for a market capitalization of $ 768 billion. With this, the company underscored Wall Street’s confidence in its relentless expansion into cloud computing, groceries and other areas of business.

Amazon’s market price surged by 81% in the last week, as shoppers started preferring online shopping over regular stores. Further, cloud computing also has had a higher preference in the last few weeks. Amazon gained $60 billion in market value in just over a month. In February, it crossed to Microsoft to become the third most valuable company in the world by that measure.

Millennials have a lot going on for them. The one thing they love? The thrill they get from shopping. However, online shopping has become the preferred platform for practically everything. Seattle based Amazon dislodged Microsoft to become the third company on the list of the most valued publicly listed companies.

While these companies all ranked very closely on the market list, Amazon surged forward because of constant innovations and improvisations. Both Apple and Alphabet Inc., the parent company of Google, have gotten very comfortable in their positions and gotten a little lacklustre with their products.

“They’re using their cash flow to develop new businesses,” said Tim Ghriskey, chief investment strategist at Inverness Counsel in New York. “They could have Apple in their sights at some point.” The stock market “gurus” have given price targets for the three companies to stand at a capitalisation of $ 823 billion. On the other hand, Alphabet stands at $ 914 billion and Apple stands at $ 989 billion. If this continues, Amazon can quite easily take over Apple’s market value in a very short time span.

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GlobalBees CEO Nitin Agarwal Steps Down; Anuj Jain Appointed as Successor

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Nitin Agarwal, cofounder and CEO of GlobalBees-the e-commerce roll-up subsidiary of FirstCry-has resigned, effective April 24, 2025, citing personal reasons. Agarwal, who helped GlobalBees achieve unicorn status within months of its 2021 founding, will support the company’s transition until May 23, 2025.

Anuj Jain, a FirstCry veteran with over 23 years of experience and a background at ITC and L’Oréal, will take over as CEO from April 25, 2025. Jain previously led FirstCry’s pre-school segment and served as Senior Vice President of Marketing at Brainbees Solutions.

Agarwal’s departure follows several recent leadership changes within the FirstCry group. GlobalBees, which invests in D2C brands across various sectors, contributed ₹1,209 crore to FirstCry’s FY24 revenue, highlighting its strategic significance. With Jain’s appointment, the company aims to continue its strong growth in the D2C space.

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Swiggy Unveils Pyng: AI App Linking Users to Verified Pros

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Swiggy has launched Pyng, a new app aimed at connecting consumers with verified professionals across over 100 specializations, including yoga instructors, financial advisors, tutors, and event planners. Currently live in Bengaluru, Pyng uses AI to match users with trusted experts and offers a money-back guarantee for unsatisfactory services.

The app also provides professionals with tools to manage bookings, track payments, and schedule services efficiently. This marks Swiggy’s entry into the professional services marketplace, expanding beyond its core food delivery and quick commerce businesses. Pyng is available on both iOS and Android, with plans for a nationwide rollout.

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Eat Better Secures ₹17 Crore in Pre-Series A Funding

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Eat Better, a Jaipur-based D2C snacking brand, has raised ₹17 crore in a Pre-Series A funding round co-led by Prath Ventures and Spring Marketing Capital. Founded by Vidushi Kanoria, Mridula Kanoria, and Shaurya Kanoria in 2020, Eat Better specializes in healthy snacks like dry fruit ladoos and nuts.

Key Highlights:

  • Investment Use: Funds will expand Eat Better’s product line and enhance its presence on quick commerce platforms.
  • Market Position: Competes with brands like Happilo and Yoga Bar in the healthy snacking space.
  • Operational Milestones: Fulfills over 2 lakh orders monthly.
  • Financial Performance: Revenue grew nearly threefold to ₹14.47 crore in FY24, with a reduced net loss.

Market Opportunity:

The Indian food and beverages market is projected to reach $68 billion by 2030, positioning Eat Better favorably to capitalize on the demand for healthy snacks. With this funding, Eat Better aims to strengthen its market presence and product offerings.

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