Entrepreneur Stories
Female Billionaires Of The World
Published
6 years agoon
When Liliane Bettencourt, heiress to the L’Oreal cosmetics group, passed away, she left behind a personal valuation of 33 billion euros, making her the richest woman in the world. Her death not only shook the fashion industry, it also opened up the first place for the richest woman billionaire. According to the recent findings by Forbes, the number of rich women in the world comes to a grand total of 256. As it is not entirely possible to look at the entire list, here is taking a look at the creme de la creme of billionaires in the world!
1. Alice Walton
When Bettencourt was alive, Alice Walton stood at number 17 on the list of the opulently rich and famous people in the world. However, post Bettencourt’s death, Ms. Walton quickly rose up the ranks and now stands as one of the richest women in the world, with a global ranking of 16. With a net worth of $ 33.8 billion, Walton made a mark in the world with her keen eye for growth, new strategies and a zeal to make a new record every day. Alice Walton is definitely a force to be reckoned with!
2. Jacqueline Mars
Known for being on the board and working for her family’s company for almost 20 years, Jacqueline Mars stands on number 17 in the list of the richest people in the world and has an overall net worth of $ 27 billion! Having stepped down from her role as board member of Mars, Jacqueline is now on the board of several important institutions all over the world.
3. Laurene Powell Jobs
Primarily known for launching the Emerson Collective (a platform that pushes social reform and helps work with environmental causes) and co founding College Tack (a platform that helps underprivileged students pursue higher education,) Laurene Powell Jobs stands on number five in this list. Apart from pushing for equality, liberty and freedom of speech, Laurene also owns 0.7 % shares of Apple and 4 % shares of Disney!
4. Kirsty Bertarelli
Moving from the United States to the richest women in the United Kingdom, Kirsty Bertarelli stands on the first position. Former Miss UK, Kirsty is perhaps one of the most famous singers and songwriters and has been particularly known for writing the lyrics to the hit Black Coffee for the band All Saints.
5. Chan Liawa
Known for founding the really famous Fuwah International Group, Chan Laiwa is the richest female entrepreneur in China. Despite being born into royalty in 1941, Chan broke free from the shackles of her family and decided to do her own thing. The Fuwah International Group is one of the most famous real estate companies in China and Chan’s net worth stands at a whopping $ 5.5 billion.
6. Kylie Jenner
A revolutionist in the business world, Kylie Jenner built a $ 900 million company with almost no employees or capital. Using social media to her advantage, this 21 year old started Kylie Cosmetics with the aim of creating a new range of cosmetics made available for everyone. Since the launch of the Cosmetics two years ago, the company has sold products close to $ 630 million on an average. Kylie’s personal net worth stands at a valuation of more than one billion!
Women are no longer in the back seat, taking control of the world one business at a time and making their presence felt by rising up the ladder of success.
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Entrepreneur Stories
OpenAI Expands ChatGPT Advanced Voice Mode to Web Users!
Published
1 month agoon
November 21, 2024OpenAI has introduced its Advanced Voice mode for ChatGPT on the web, extending the feature that was previously available only on iOS and Android apps. This announcement, made via a post on X (formerly Twitter), signifies a significant expansion of the conversational capabilities of ChatGPT to desktop users.
Enhancing User Interaction
The Advanced Voice mode aims to make interactions with ChatGPT more natural and conversational. The feature is being rolled out this week to subscribers of ChatGPT Plus, Enterprise, Teams, and Edu. Free-tier users will have to wait a few weeks to access the feature as part of a limited monthly preview.
How to Use Advanced Voice Mode on the Web
Activating the voice feature on the web is straightforward. Users simply need to click the Voice icon in the prompt window’s bottom-right corner and grant their browser permission to access their microphone. Once activated, a blue orb at the center of the screen indicates that voice chat is active.
The voice feature offers nine output voices with unique tones and personalities. OpenAI has introduced five new voices—Arbor, Maple, Sol, Spruce, and Vale—in addition to existing options like Breeze, Juniper, Cove, and Ember. These voices are designed to create a lifelike and engaging dialogue experience, each with distinct emotional tones and the ability to emphasize certain words for more natural interaction.
For instance:
- Arbor is described as “easygoing and versatile.”
- Ember conveys a “confident and optimistic” tone.
This nature-inspired naming reflects OpenAI’s focus on making AI interactions feel smoother and more relatable.
Usage Limits for Subscribers
While paying users gain early access to this feature, there are daily usage limits in place. Plus and Teams subscribers will receive notifications when they have 15 minutes of voice usage left for the day. Free users will receive limited monthly access to test the feature.
Kevin Weil, OpenAI’s Chief Product Officer, noted that these measures are necessary to manage resource availability as the feature scales up.
A Controversial Missing Voice
One notable absence is the previously available “Sky” voice, which was removed following legal and ethical controversies. Critics alleged that Sky bore a striking resemblance to Hollywood actress Scarlett Johansson’s voice, leading to backlash and a lawsuit against OpenAI. Johansson’s legal representatives claimed that the company lacked permission to use a voice that closely mimicked her own. In response, OpenAI suspended this feature in May 2024.
OpenAI stated that any resemblance was unintentional, but internal comments referencing the film Her, where Johansson voiced an AI assistant, added fuel to the controversy. The company has since refrained from including voices that could lead to similar disputes.
What’s Next for Advanced Voice Mode
With this introduction of Advanced Voice mode on the web, OpenAI is taking another step toward making AI interactions feel more personal and accessible. The feature promises to transform user experiences by combining natural dialogue capabilities with versatile voice options.
As the rollout continues, OpenAI is expected to refine this feature further, eventually extending it to all ChatGPT users while addressing concerns around voice replication and ethical usage.
Future Enhancements
OpenAI plans ongoing improvements based on user feedback and technological advancements. The goal is not only to enhance user experience but also to ensure compliance with legal standards regarding voice replication.
In summary, with Advanced Voice mode now available on web platforms, OpenAI reinforces its commitment to creating engaging AI experiences that cater to diverse user preferences while navigating complex ethical landscapes associated with voice technology.
Entrepreneur Stories
Zepto Secures $300 Million, Doubling Its Funding Target Amid Quick Commerce Battle!
Published
1 month agoon
November 17, 2024Quick commerce startup Zepto is gearing up to raise $300 million from domestic investors, doubling its initial funding target, according to a report by The Economic Times. This latest funding round underscores Zepto’s growing influence in the competitive quick commerce sector, where it competes against Zomato’s Blinkit and Swiggy’s Instamart.
Overwhelming Investor Interest
The funding round has reportedly been oversubscribed, attracting prominent Indian family offices and ultra-high net worth individuals (ultra-HNIs). This reflects strong confidence in the sector and Zepto’s potential. The company has previously raised $1 billion and continues to position itself as a leading player in the booming quick commerce market.
Previous Funding Rounds
Zepto’s recent fundraising efforts have been impressive. In June, the company raised $665 million at a valuation of $3.6 billion, marking one of the largest financing rounds in the quick commerce space this year. The Series F round was co-led by existing investors such as StepStone Group, Nexus Venture Partners, and Glade Brook Capital, with new investors like Avenir Growth and Lightspeed Venture Partners joining in.
Increased Indian Ownership
Following this round, Indian ownership in Zepto is expected to surge to approximately 35%, which includes stakes held by its founders, Aadit Palicha and Kaivalya Vohra. Sources revealed that the founders have been granted an additional 1% equity for achieving key performance milestones.
Strategic Focus on Domestic Investors
Zepto’s strategy emphasizes building a strong base of Indian investors ahead of its anticipated IPO. The company aims to deepen relationships with high-quality domestic investors as part of its preparations for going public.
Celebrity and Corporate Participation
The funding round has attracted high-profile backers, including Bollywood legend Amitabh Bachchan and cricket icon Sachin Tendulkar, highlighting the optimism surrounding Zepto’s growth. Prominent investors such as the Ravi Jaipuria-led RJ Corp, Harsh Goenka’s RPG group, and the Motilal Oswal group have also committed significant funds. Notably, Motilal Oswal reportedly increased its commitment from $40 million to over $60 million.
Diverse Investor Base
Additionally, participation from other notable figures like Ranjan Pai of the Manipal Group and Ramesh and Rajeev Juneja of Mankind Pharma further solidifies Zepto’s support from domestic heavyweights.
Valuation and Stake Sale
Zepto is reportedly selling a 6% stake at a valuation of $5 billion, reflecting its growing dominance in the quick commerce space. A source familiar with the development stated, “The round was oversubscribed, prompting Zepto to increase the total offering.”
Focus on Growth and Innovation
With 1 million daily orders, Zepto has emerged as the only large private player in the quick commerce sector, distinguishing itself from publicly listed competitors like Swiggy and Blinkit. The company plans to expand its operations significantly over the next year by opening new dark stores—mini warehouses for rapid delivery—in various cities across India.
Expansion Plans
Zepto aims to increase its number of dark stores from around 350 to 700 by March 2025. This expansion is crucial as it seeks to enhance delivery speed and efficiency while meeting rising consumer demand for quick commerce solutions.
A Bright Future Ahead
Zepto’s ability to attract significant domestic investment and its strategic focus on Indian ownership signal its readiness to scale further in the competitive quick commerce market. This funding round positions Zepto for robust growth as it prepares for its next big milestone: going public.
Market Dynamics
As competition intensifies in India’s quick commerce sector, Zepto’s aggressive expansion strategy and strong financial backing will be critical in maintaining its market leadership against rivals like Zomato’s Blinkit and Swiggy’s Instamart.
Conclusion
With a successful track record of fundraising and an ambitious growth strategy, Zepto is well-positioned to capitalize on the burgeoning demand for quick commerce services in India. The recent funding initiatives not only reflect investor confidence but also underscore Zepto’s commitment to enhancing customer experience through innovation and operational excellence.
As it gears up for an IPO, Zepto’s focus on building a robust foundation with domestic investors will play a pivotal role in its long-term success in the rapidly evolving e-commerce landscape.
Entrepreneur Stories
Reliance, Viacom18, and Disney Complete Merger to Form ₹70,352 Crore Joint Venture!
Published
1 month agoon
November 17, 2024The much-anticipated merger of Reliance Industries Limited (RIL), Viacom18, and The Walt Disney Company’s media and digital assets has officially taken shape, creating a joint venture (JV) valued at ₹70,352 crore (approximately $8.5 billion). This transformative partnership brings together some of India’s most iconic television and digital brands, including Star, Colors, JioCinema, and Hotstar, into a single entity poised to dominate the media and entertainment landscape.
Regulatory Approvals and Details of the Merger
The merger received approvals from the National Company Law Tribunal (NCLT), the Competition Commission of India (CCI), and other regulatory authorities. The JV excludes anticipated synergies in its valuation and marks a significant milestone in the evolution of India’s media sector. The transaction is seen as a strategic move to consolidate resources and enhance content offerings in a highly competitive market.
Investment and Ownership Structure
Reliance Industries Limited invested ₹11,500 crore (~$1.4 billion) into the JV to drive growth and innovation. The post-merger ownership structure stands as follows:
- RIL: 16.34%
- Viacom18: 46.82%
- Disney: 36.84%
Additionally, RIL acquired Paramount Global’s 13.01% stake in Viacom18 for ₹4,286 crore, restructuring ownership within Viacom18 to:
- RIL: 70.49%
- Network18 Media & Investments Ltd.: 13.54%
- Bodhi Tree Systems: 15.97% (fully diluted).
A Media and Entertainment Powerhouse
The newly formed JV will operate over 100 television channels, producing an annual output of more than 30,000 hours of content. Its digital platforms, JioCinema and Hotstar, collectively boast a subscriber base exceeding 50 million. The JV also holds an impressive portfolio of sports broadcasting rights, covering cricket, football, and other major events.
Content Strategy
By combining resources from both Viacom18 and Disney, the JV aims to enhance its content library significantly. This includes leveraging popular franchises and exclusive sports rights to attract a broader audience across various demographics.
Leadership and Vision
Nita M. Ambani will serve as Chairperson of the JV, with Uday Shankar as Vice Chairperson, providing strategic guidance. Other key leaders include:
- Kevin Vaz (Entertainment)
- Kiran Mani (Digital Operations)
- Sanjog Gupta (Sports)
The JV’s pro forma combined revenue for FY 2023-24 is estimated at approximately ₹26,000 crore (~$3.1 billion), cementing its position as one of India’s largest media and entertainment companies.
Leadership Insights
Mukesh D. Ambani, Chairman & Managing Director of Reliance Industries Limited, called the merger a “transformational era” for Indian media. He stated, “Our collaboration with Disney and deep understanding of Indian audiences will provide unparalleled content choices at affordable prices.”
Robert A. Iger, CEO of The Walt Disney Company, expressed enthusiasm for expanding in India’s critical media market: “This JV will offer a robust portfolio of entertainment, sports content, and digital services, benefiting millions of viewers.”
Global and Local Impacts
The JV’s global significance is underscored by approvals from antitrust authorities in the EU, China, Turkey, South Korea, and Ukraine, alongside India’s CCI. This extensive regulatory approval reflects the merger’s strategic importance on both local and international fronts.
A Transformative Future
The merger not only reshapes the Indian media industry but also strengthens the global footprint of the entities involved. With strong leadership, a massive content portfolio, and innovative strategies, the JV is set to revolutionize entertainment in India and beyond.
Future Challenges
While the merger presents numerous opportunities for growth and innovation, it also poses challenges related to integrating two distinct corporate cultures and managing overlapping content strategies effectively.
Conclusion
The completion of this monumental merger between Reliance Industries Limited, Viacom18, and Disney marks a new chapter in India’s media landscape. By combining their strengths and resources into a single powerhouse entity, they aim to redefine entertainment consumption in India while expanding their influence globally.
As this joint venture progresses, it will be closely watched by industry stakeholders for its impact on content diversity, viewer engagement strategies, and overall market dynamics in the rapidly evolving media sector.
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