News
SenseTime Becomes The Most Valuable AI Startup In The World
Published
7 years agoon
China based startup, SenseTime Group Ltd., becomes the most valuable artificial intelligence startup in the world by raising a cool $ 600 million from Alibaba and other investors. Post this round of funding, the valuation of the startup stood at more than $ 3 billion, making it the wealthiest artificial intelligence startup in the world!
The company, which specializes in systems that analyze faces and images on an enormous scale, closed a Series C round funding in the past months. This round of funding included Singaporean state investment firm, Temasek Holdings Pte and retailer Suning.com Co. While SenseTime didn’t outline the individual investments, reports state Alibaba has sought the biggest stake in the three year old startup.
Backed by Qualcomm Inc., SenseTime has more than doubled its valuation in the last few months with this round of investment. While the company aims at becoming a leading force in the artificial world by 2030, this latest round of funding will help in diversifying interests in parallel fields. SenseTime plans on using this new round of funding to work in areas like autonomous driving, augmented reality, cover the growing cost of AI talent and increase its computing power.
At the moment, SenseTime is working on a brand new servicing code called Viper. Through Viper, this startup plans on sourcing feed from thousands of live cameras, a platform which will prove invaluable in relation to mass surveillance. With this investment from Alibaba, SenseTime is looking at upping its infrastructure as well. This China based startup has, to date, partnered with more than 400 leading domestic and overseas enterprises across security, fintech, automobile, retail, smartphone, mobile Internet and robotics. By broadening the possibilities of data technology and its application across industries, the Company has the potential to provide a technological leap for a range of verticals and serve as their close partner in AI transformation.
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Startup News
Zomato Founder Seeks Chief Of Staff: No Salary, Pay ₹20 Lakh Instead!
Published
1 day agoon
November 22, 2024Deepinder Goyal, the CEO of Zomato, has stirred a heated debate online with his unconventional job posting for the role of Chief of Staff. In a bold move, Goyal announced that the selected candidate would not receive a salary for the first year. Instead, they would need to pay ₹20 lakh for the opportunity, a sum that would be donated entirely to Zomato’s non-profit arm, Feeding India.
The Job Posting
Sharing the details on his X (formerly Twitter) account, Goyal outlined the qualities he seeks in the candidate:
- Hunger for success
- Common sense and empathy
- A lack of prior conditioning or baggage
- Groundedness and a zero-entitlement mindset
- Excellent communication skills
- A learning-oriented approach
The post emphasized that the role requires someone willing to “do the right thing, even at the cost of displeasing others.”
Compensation Structure
For the second year, the company promises a competitive salary exceeding ₹50 lakh, but this will only be offered after the completion of the unpaid first year. This structure is designed to attract candidates who are genuinely committed to personal and professional growth rather than those motivated solely by financial incentives.
Divided Reactions Online
The unconventional terms have sparked a mixed reaction online. While some have criticized the move for its apparent exclusivity, others have praised Goyal’s approach to identifying truly dedicated talent.
Criticism
Several users slammed the job posting for its apparent elitism, arguing that the ₹20 lakh fee would restrict the opportunity to wealthier candidates. Comments included:
- “As if exploiting gig workers wasn’t enough, now they target the middle class. This is ridiculous.”
- “This creates an artificial barrier, limiting the role to rich candidates with privilege.”
- “Hire me as your PR manager; I’d save you from such tweets,” joked one user.
Critics argue that such a financial requirement alienates talented individuals who may not have the means to afford this upfront cost, thereby narrowing the pool of potential applicants.
Praise
Conversely, some viewed the posting as a strategic move to find highly motivated and financially independent individuals. Supportive comments included:
- “This is a masterstroke to filter talent. It’s not just about the money but about finding someone who understands risk and has skin in the game.”
- “By linking the fee to charity, it adds a touch of purpose and filters for those who align with Zomato’s values.”
Proponents argue that this unique approach could attract candidates who are genuinely passionate about making an impact and are willing to invest in their future.
The Vision Behind the Role
Goyal defended his decision by explaining that the ₹20 lakh contribution would directly support Feeding India, aligning with Zomato’s mission to give back to society. The role is intended for someone passionate about learning and willing to invest in both their professional development and social causes.
“We believe that people who apply for this role should do it for the learning opportunity it presents, rather than for a fancy well-paying job,” Goyal stated.
A New Hiring Trend or Misstep?
The announcement has undoubtedly sparked conversation about innovative hiring practices and their potential pitfalls. Whether this approach becomes a precedent in corporate hiring or fades as a one-off remains to be seen.
Implications for Future Hiring Practices
This job offer raises important questions about accessibility in high-level positions within companies. As organizations look for unique ways to attract talent, they must balance innovative approaches with inclusivity to ensure they do not inadvertently exclude capable candidates from diverse backgrounds.
Conclusion
For now, the spotlight is firmly on Zomato—and on the candidate who accepts this bold challenge. As discussions continue around Goyal’s unconventional job offer, it remains to be seen how this will impact Zomato’s hiring practices and whether other companies will follow suit with similar approaches. The outcome may redefine how organizations perceive talent acquisition in an increasingly competitive landscape.
Latest News
WhatsApp Beta Introduces Group Mentions: A Game-Changer for Group Communication!
Published
1 day agoon
November 22, 2024WhatsApp, the Meta-owned messaging platform, is enhancing group communication with a new feature that simplifies how users share updates in group chats. The app now allows users to mention entire groups in their status updates, streamlining the process of notifying multiple people simultaneously.
What’s New?
According to WABetaInfo, the group mention feature is being rolled out to beta testers on Android. This update enables users to tag an entire group in their status updates, ensuring all group members receive a notification and a direct message in their individual chats. This eliminates the hassle of manually notifying each member, making it easier to share critical updates or announcements across large groups.
Previous Limitations
Previously, WhatsApp restricted mentions to a maximum of five contacts per status, which posed challenges for users managing large groups. With this update, that restriction is lifted, allowing mentions of entire groups and enhancing communication efficiency.
How It Works
Group Mentions in Status
- Tagging Groups: Users can now tag a group in their status update, ensuring everyone in the group is notified. This feature is particularly useful for sharing important events, updates, or news without the risk of missing out on anyone.
- Universal Notifications: Once a group is mentioned, all participants—including those who have muted the group—will receive a notification and can access the status. This guarantees that critical updates reach every member.
Privacy Simplification
The feature simplifies privacy settings by eliminating the need to adjust them for specific contacts. When a group is mentioned, all members automatically gain access to the status update, making communication more seamless and inclusive.
Custom Lists for Direct Messages
In addition to group mentions, WhatsApp is introducing custom lists for organizing direct messages (DMs). This feature allows users to create personalized categories for their contacts, helping declutter their inbox and focus on important conversations.
Benefits of Custom Lists
- Organized Chats: Users can group contacts into specific categories such as work, family, or friends, ensuring they can quickly locate and prioritize messages without getting overwhelmed by less relevant chats.
- Enhanced Focus: By categorizing conversations, users can streamline their communication and improve productivity.
Why This Matters
The introduction of group mention and custom list features is designed to improve user experience, making WhatsApp an even more effective tool for both personal and professional communication.
Time-Saving Benefits
- Efficient Communication: Group mentions save time by allowing users to notify all members about key events or announcements with a single action.
- Improved Coordination: These features facilitate better coordination within large groups by ensuring that everyone stays informed simultaneously.
Global Rollout on the Horizon
Currently available for beta testers on Android, WhatsApp plans to roll out these features globally soon. This commitment reflects WhatsApp’s ongoing effort to adapt its platform to meet the evolving needs of its users.
Anticipated Impact
As these features become widely available, they are expected to enhance user engagement and satisfaction by providing more efficient ways to communicate within groups. The ability to mention entire groups directly aligns with current trends in digital communication where quick and effective information sharing is paramount.
Conclusion
With the introduction of group mentions and custom lists, WhatsApp continues to innovate and enhance its platform. These updates not only streamline communication but also reflect WhatsApp’s commitment to adapting its features based on user feedback. As beta testers explore these functionalities now, broader accessibility will soon follow, making it easier than ever for users to stay connected and organized within their communities. Keep an eye out for these exciting enhancements as they roll out globally!
Startup News
Baanhem Ventures Secures ₹3.3 Crore from Kumar Vembu’s Mudhal Partners!
Published
2 days agoon
November 21, 2024Baanhem Ventures, the creators of the business reality TV show Startup Thamizha, has successfully raised ₹3.3 crore in funding from Kumar Vembu, founder of GoFrugal Technologies, through his newly launched investment firm, Mudhal Partners. This funding marks a significant milestone in Baanhem Ventures’ mission to empower first-generation entrepreneurs in Tamil Nadu.
Championing Tamil Nadu’s Entrepreneurial Ecosystem
Founded in 2024 by Hemachandran L and Balachandar R, Baanhem Ventures aims to create opportunities for Tamil Nadu’s budding entrepreneurs to become the next generation of innovators and job creators. With backing from Kumar Vembu, the venture seeks to drive social and economic growth through strategic financial and mentorship initiatives.
The company’s flagship show, Startup Thamizha, has already facilitated over ₹200 crore in investment commitments for startups across three seasons. The program showcases seed and growth-stage entrepreneurs from Tamil Nadu, aiming to inspire high-net-worth individuals (HNIs) to invest in local startups while nurturing an entrepreneurial culture in the state.
Building a Bridge for Aspiring Entrepreneurs
“Financial support is critical for first-generation entrepreneurs to start businesses and make an impact. Our mission at Baanhem is to be a dependable resource for these entrepreneurs, helping them transform their ideas into successful businesses,” said Hemachandran L and Balachandar R, Co-founders of Baanhem Ventures. Their commitment underscores the importance of accessible funding and mentorship in fostering a vibrant startup ecosystem.
Through Startup Thamizha, Baanhem Ventures offers entrepreneurs mentorship and funding opportunities, contributing significantly to Tamil Nadu’s economic growth. The show is set to air on a prominent general entertainment channel, highlighting innovative startups and encouraging aspiring entrepreneurs to pursue their dreams.
The Role of Mudhal Partners
Kumar Vembu, through Mudhal Partners, is dedicated to fostering first-generation entrepreneurs from Tamil Nadu. “I was impressed by Baanhem’s vision to develop native entrepreneurs using a scientific approach to produce successful startups. This is why I became the first to join this novel initiative,” Vembu stated.
The name “Mudhal Partners,” meaning “First Partners” in Tamil, reflects the firm’s vision to be the initial supporters of groundbreaking entrepreneurial ventures in Tamil Nadu.
Expanding the Vision
In addition to the funding, Baanhem Ventures is actively raising funds from venture capital firms to create a startup-investment bridge platform. This platform will connect emerging startups with top investors across India, providing access to crucial resources for scaling their businesses.
With this latest funding and the launch of Startup Thamizha, Baanhem Ventures is set to play a pivotal role in shaping Tamil Nadu’s entrepreneurial future, driving innovation, and fostering economic growth.
Conclusion
The successful funding round led by Kumar Vembu’s Mudhal Partners signifies a promising step for Baanhem Ventures as it embarks on its mission to empower first-generation entrepreneurs in Tamil Nadu. By leveraging strategic partnerships and innovative platforms like Startup Thamizha, Baanhem Ventures aims not only to enhance local entrepreneurship but also contribute significantly to the broader economic landscape of the region. As they continue to nurture talent and facilitate investment opportunities, Baanhem Ventures is poised to make a lasting impact on Tamil Nadu’s startup ecosystem.
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