Entrepreneur Stories
Uber: Unknown Facts About The Ride Sharing App
Published
6 years agoon
Uber, the ride sharing app that lets you book a cab with just the tap of a button, had a very humble beginning. Founded by a college dropout, Travis Kalanick, who dreamed of making it big in the world, the app now has a presence in 195 countries! While there are a lot of things one knows about this startup, there is still a lot to discover. Check out these lesser known facts about Uber here!
1. An iPhone for every driver
In an attempt to unify the drivers with one type of device, the company equipped all its drivers with an iPhone. Through this phone, the drivers can track and contact users who have booked a ride. However, the phone is locked for personal use and is made available only for people employed by Uber!
2. Uber had a different name when it started
Did you know when Travis first brought Uber to the public, it had a different name? Uber was initially called Ubercab. However, the company was issued with a cease and desist order as Travis was operating the company that offered a cab service, without having the required license to do so. Incidentally, this name change proved to be a blessing in disguise, propelling Uber into a massive superpower!
3. Uber used its equity for its URL
Uber’s unique trademark URL, Uber.com, wasn’t achieved the normal way. Travis and his team had to trade Uber’s equity to get control of this website and boy, did it work in their favour! This move came to be after the cease and desist order against Ubercab. However, over the course of time, Travis eventually bought back the 2 % stake for a whopping $ 1 million!
4. Uber cabs can’t be more than 10 years old
Every cab used by Uber drivers has to be no less than 10 years old. Every car gets upgraded the moment it reaches that ten year mark, making sure all the cabs are in perfect condition when on the road. Furthermore, all the cars used by Uber are required to have four doors and no less!
5. Uber has four types of drivers
Uber hires and classifies its drivers according to their experience. Currently, there are four types of drivers on Uber’s roster: Pros, Enthusiasts, Crossovers and Part Time. In some cases, when inspections of other cabs are carried, the drivers on the top of the chain are the ones who carry out these surveys and checks.
6. Tips are not a part of the bill
Riders are not allowed to tip the drivers. In fact, as of 2016, drivers were not allowed to say the word “tip” while talking to a customer! According to the hiring policy, Uber drivers keep 80 % of the money they make while only 20 % goes back to the company. This ensures equal pay between both the drivers and the parent company, leaving no room for the requirement of tips.
7. Uber drivers are forced to take selfies
While facial recognition software is often used to confirm a driver’s identity, some Uber drivers are forced to take selfies. Using a tool called Real Time ID check, the cab service Company forces some of its drivers to take a selfie as proof of their identity. Did you know certain drivers are rejected because of how they look in their pictures alone? Talk about bad lighting!
If you think we missed out on any other facts about Uber, comment and let us know!
You may like
Entrepreneur Stories
Flipkart Partners with NCERT to Boost Textbook Accessibility
Published
1 week agoon
December 26, 2024Flipkart has joined hands with the National Council of Educational Research and Training (NCERT) to enhance the accessibility of NCERT textbooks for students across India, particularly those in Tier 2 and Tier 3 cities. This strategic partnership aims to bridge the gap in access to quality education by leveraging Flipkart’s extensive reach and logistics network.
Key Benefits of the Partnership
- Enhanced Accessibility: With this collaboration, students in remote areas can now order NCERT textbooks online and have them delivered directly to their doorstep. This initiative is particularly beneficial for families in regions where physical bookstores may be limited or non-existent.
- Affordability: Flipkart’s platform will offer competitive prices on NCERT textbooks, making them more affordable for students and parents. Discounts and promotions may also be available, further reducing the financial burden on families.
- Convenience: The partnership provides a seamless online shopping experience for parents and students alike. With an easy-to-navigate platform, users can quickly find and purchase the textbooks they need without the hassle of traveling to physical stores.
Alignment with Government Initiatives
This initiative aligns with the Indian government’s vision of promoting digital learning and making education more inclusive. By providing easy access to essential textbooks, Flipkart and NCERT are working together to empower students and contribute to the nation’s educational growth. This partnership supports the government’s broader goals of enhancing educational resources through technology and ensuring that quality learning materials are available to all students, regardless of their location.
Additional Context
The partnership comes at a time when there is a growing emphasis on digital education in India, especially following the disruptions caused by the COVID-19 pandemic. The shift towards online learning has highlighted the need for accessible educational resources. By collaborating with NCERT, Flipkart is not only expanding its product offerings but also playing a vital role in supporting educational equity across the country.
Authorized Sellers
Flipkart will work with authorized sellers designated by NCERT to ensure that students can easily purchase authentic NCERT textbooks through its platform. This collaboration guarantees that all textbooks are genuine and meet the quality standards set by NCERT.
Conclusion
The partnership between Flipkart and NCERT represents a significant step towards improving textbook accessibility for students in India. By leveraging technology and e-commerce capabilities, this collaboration aims to make quality educational resources more widely available, particularly in underserved regions. As both organizations work together to enhance educational outcomes, they are contributing to a more equitable learning environment that empowers students across the nation.
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
2 months 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.
Recent Posts
- Accenture Beats Earnings Estimates on Strong AI Demand
- Arata Secures $4 Million in Funding Led by Unilever Ventures
- Edtech Entrepreneur Aakash Chaudhry Makes Comeback with Sparkl Edventure
- Apple Reportedly to Maintain iOS Support for Older iPhones
- Netflix India to Challenge Disney+ and JioCinema with WWE Rights
- The Rise of 10-Minute Food Delivery: India’s Race for Instant Gratification
- InCred Finance Appoints New CFO, Gears Up for IPO
- Zoomcar Expands Its Offerings with the Launch of “Zoomcar Cabs”
- Freshworks Founder Sells $40 Million in Shares
- Tata Power-DDL Partners with Baaz Bikes to Boost Electric Vehicle Adoption in Delhi
- Amazon Ends Partnership with Shoppers Stop, Exits Indian Retail Venture
- Google Unveils Gemini 2.0 Flash Thinking Mode: A Powerful Reasoning Engine
- Instagram Teases Revolutionary AI Video Editing Tool
- YouTube Cracks Down on Clickbait Titles and Thumbnails in India
- OpenAI Showcases ChatGPT’s Agentic Potential with Desktop App Integrations
- Bing Image Creator Gets a Speed Boost and New Features
- Nvidia Unveils Jetson Orin Nano Super: Its Most Affordable Generative AI Supercomputer
- Waymo Takes on Tokyo: A Global Expansion
- BigBasket Joins the 10-Minute Food Delivery Race
- Blinkit Appoints Former Flipkart Executive as CFO