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Journey And Growth Of Product Hunt
Published
4 years agoon
The proliferation of the internet across the world has been one of the biggest achievements of technology in the last two decades. The advent of internet technology gave many people a chance to display their talents for the world to see and take notice. However, like any good thing there is also another side to the coin, which in this case is the huge volume of talent on display.
What is it that famous apps like the group video mobile chatting app, Houseparty and the hugely popular $0 commission brokerage firm, Robinhood have in common? Both Houseparty and Robinhood launched their products on Product Hunt from where they got their initial traction; the kind of traction which resulted in funding from acclaimed investors. Product Hunt comes into the picture by giving deserving product creators a platform to display their wares.
Before we dive into the journey of Product Hunt, we need to understand what Product Hunt does primarily. Product Hunt is a website/platform which lets users share their own products and discover other products. Users can comment and vote (upvote and downvote) various products which they think are useful or not. A product with the most upvotes in a day reaches the top of the list for that day. Simply put, the more attractive and useful a product is, means the better the chance for it to be discovered by other users. Products are mainly classified and organized into four categories namely technology (web apps, mobile apps etc.,) games ( PC, mobile and web,) books and podcasts.
Product Hunt: The Beginning
Product Hunt was founded by Ryan Hoover in 2013 but initially Product Hunt was completely different than what it is right now. Before Product Hunt kicked off, Hoover was a Product Director at a gaming company named PlayHaven. Hoover was an active blogger and used to talk about tech products and answer questions from his audience about his thoughts on new things on TechCrunch, Hacker News, Redditt and Twitter. Product Hunt initially began as an email list using LinkyDink, a tool for creating an email digest.
Just announced a new experiment: Product Hunt http://t.co/wM3F7rF0Xr
cc @choosenick, @jongold, @stef
— Ryan Hoover (@rrhoover) November 6, 2013
Interested contributors submitted links of new products which would be included in the email newsletter and subscribers would receive the newsletters containing all the new products.
What began as a side project grew into Product Hunt. Hoover realised he had an excellent idea on his hands and one which would be helpful for everyone. Founders are using the platform (Product Hunt) as a launch pad, investors are using it as a scouting ground while tech enthusiasts are able to stay updated on new technology.
Once Ryan Hoover realised the potential for what Product Hunt could be, he reached out to his friend Nathan Bashaw for help with designing the original Product Hunt. The platform was designed over a Thanksgiving break and rolled out. Hoover and Bashaw tested the waters by seeking feedback from users about Product Hunt and also at the same time making them invested in the decision making process.
Five days after gaining feedback from initial users, the first Product Hunt beta was rolled out followed by gaining the first 30 users. Bugs were identified and corrected all the while collecting constant feedback and in a span of a week the users grew to 100. It was then that Product Hunt was publicly launched for the public. At that moment, Ryan Hoover however did not go for press publicity but instead worked on making Product Hunt as engaging as possible while retaining their users. Later a couple of strategically placed articles in the press worked wonders while reaffirming that Product Hunt was not just one of Hoover’s experiments.
Since the public launch, Hoover kept a keen eye on promising users and engaged with them and also collaborated with influencers in the tech space to promote Product Hunt. Twenty days after the public launch of Product Hunt, there were 2000 users on the platform.
Once Product Hunt started gaining traction, it was not long before venture capital firms came knocking on their doors.
AngelList Acquisition
Since Product Hunt began in 2013, there have been over 100 million product discoveries and 50,000 startups and makers introduced their product/service to the world on Product Hunt. AngelList is a U.S. website for startups, angel investors, and job seekers looking to work at startups. AngelList also helps startups with their challenges in fundraising and talent. Ryan Hoover used to browse AngelList to search for different startups that have been springing up.
My new favorite thing: browsing AngelList. I'm such a nerd.
— Ryan Hoover (@rrhoover) October 25, 2011
Ryan Hoover and AngelList founder Naval Ravikant decided to meet and discuss Product Hunt after Naval reached out to Hoover over a text message. The meeting took place six months after Product Hunt was rolled out publicly. Ryan Hoover initially had a fear that AngelList might be a competitor to Product Hunt, as investors were using the platform to scout for promising startups. While Product Hunt’s focus was product discovery, Hoover took his time to learn about Naval’s vision for AngelList following which his fears were assuaged. It was then that Naval offered to invest in Product Hunt. Although the news was not publicly announced, both Product Hunt and AngelList have announced the acquisition on their company blog sites. AngelList had this to say about Product Hunt on their blog “Product Hunt will remain independent. It will maintain its playful, empathic and curious attitude (sic.)” AngelList acquired Product Hunt in November, 2016.
Today Product Hunt is used by product and app developers worldwide to display their creations in order to be launched or in the hopes of attracting investors. Stay tuned to Startup Stories to learn more about the revenue models of Product Hunt in the next article.
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Entrepreneur Stories
Ratan Tata: Six Tata Group Companies Record Astonishing Returns of Up to 1,500% in Five Years!
Published
15 mins agoon
October 10, 2024Ratan Tata’s Leadership and Legacy
Ratan Tata succeeded JRD Tata as Chairman of Tata Sons in March 1991 and served until December 2012, overseeing a transformative period that spanned over two decades. Under his stewardship, Tata Sons, the principal investment holding company and promoter of Tata companies, played a vital role in the growth and success of the conglomerate. Currently, these six Tata companies collectively represent about 10% of the Nifty50 index, with a combined market capitalization nearing ₹28 lakh crore.
In the wake of Ratan Tata’s passing on October 9, the business community reflects on his profound legacy in wealth creation. Under his leadership, the Tata Group established a remarkable reputation for generating significant returns, with six of its companies—Tata Consultancy Services (TCS), Tata Steel, Tata Motors, Titan Company, Tata Consumer Products, and Trent—achieving returns of up to 1,500% over the past five years. These companies are also key constituents of India’s Nifty50 index, which tracks the top 50 companies in the country.
Tata Consultancy Services (TCS)
As India’s largest IT company and the second-largest by market capitalization at ₹15.45 lakh crore, TCS has been a leading wealth creator. Since its listing in 2004, TCS has gained over 115% in the last five years, alongside a 12% increase in 2024 alone. The company is a major contributor to Indian exports and has consistently rewarded its shareholders with dividends. Analysts maintain a positive outlook, with Antique Stock Broking assigning a ‘hold’ rating and a target price of ₹4,450, while Sharekhan recommends a ‘buy’ with a target price of ₹5,230. TCS is expected to report moderate revenue growth, impacted by performance in retail and consumer packaged goods.
Tata Motors
The homegrown automotive giant has experienced remarkable growth, with a nearly 700% increase in stock value over the last five years. Ratan Tata began his career with Tata Motors and played a crucial role in launching landmark projects such as the Indica, India’s first fully indigenous car, and the Nano, known for its affordability. Currently, Tata Motors has a market capitalization exceeding ₹3.45 lakh crore, with analysts from Emkay Global Financial Services and Motilal Oswal projecting target prices of ₹1,175 and ₹990 respectively.
Tata Steel
Originally known as Tisco, Tata Steel has surged close to 350% in the past five years and boasts a market capitalization of around ₹2 lakh crore. Ratan Tata joined the company as a technical officer in 1965, and the stock has grown nearly tenfold over the last two decades. Analysts maintain a favorable outlook, with Elara Capital recommending an ‘accumulate’ rating and a target price of ₹171.
Titan Company
Titan has also been a standout performer with a remarkable 180% increase in stock value over the past five years and an impressive 700% growth over two decades. Titan’s current market capitalization is approximately ₹3 lakh crore. Analysts view Titan positively, with Antique Stock Broking targeting ₹4,485 and Morgan Stanley upgrading its rating with a target price of ₹3,570.
Tata Consumer Products
This company has delivered an impressive 310% return over the past five years and an extraordinary 5,000% return since 2004, with a market capitalization of ₹1.1 lakh crore. The brand’s strong performance reflects its strategic positioning within India’s fast-moving consumer goods sector.
Trent
Trent stands out as the top performer over the last five years, skyrocketing nearly 1,500%, with a remarkable 27,000% increase over the past two decades. Its current valuation stands at around ₹2.9 lakh crore. Recent coverage by Citi has given Trent a ‘buy’ rating with a target price of ₹9,250.
Conclusion
Overall, Ratan Tata’s leadership has left an indelible mark on the Tata Group, fostering innovation and robust growth that continues to benefit investors and the economy alike. The impressive returns generated by these six companies underscore Tata’s commitment to sustainable business practices and long-term value creation. As they navigate future challenges and opportunities, these firms remain pivotal players in India’s economic landscape.
Entrepreneur Stories
Remembering Ratan Tata: A Legacy of Leadership, Innovation, and Philanthropy!
Published
7 hours agoon
October 10, 2024Ratan Tata, the revered former chairman of Tata Sons, passed away on October 9, 2024, at the age of 86. His death signifies the conclusion of an influential era for both the Tata Group and the Indian business landscape as a whole.
A Legacy of Transformation
Born on December 28, 1937, in Navsari, Gujarat, Ratan Tata was the great-grandson of Jamsetji Tata, the founder of the Tata Group. He assumed leadership as chairman in 1991 during a critical period of economic liberalization in India. Under his stewardship, the Tata Group diversified into various sectors such as IT, steel, automobiles, and hospitality. One of his notable achievements was the launch of the Tata Nano in 2008, which aimed to provide affordable transportation to millions.
Tata’s strategic vision led to significant global acquisitions, including Jaguar Land Rover and Tetley Tea, transforming the Tata Group into a $100 billion conglomerate by 2012. His tenure saw over 60 acquisitions that expanded the group’s international footprint and solidified its place on the global stage.
Philanthropic Endeavors
Beyond his business prowess, Ratan Tata was deeply committed to philanthropy through the Tata Trusts. His contributions significantly impacted healthcare, education, and rural development initiatives across India. His dedication to social causes earned him prestigious accolades such as the Padma Bhushan in 2000 and the Padma Vibhushan in 2004.
Tata championed entrepreneurship by investing in startups and fostering innovation through initiatives like Tata Capital and Tata Start-up Hub. Reports suggest he donated around 60-65% of his income to charitable causes, underscoring his commitment to societal betterment.
Tributes and Mourning
The announcement of Ratan Tata’s passing prompted an outpouring of tributes from leaders across various sectors. Prime Minister Narendra Modi described him as “a visionary business leader” whose contributions were “immeasurable.” Mukesh Ambani and Sundar Pichai also expressed their condolences, emphasizing Tata’s role in elevating India’s presence on the global stage.
The Chief Minister of Maharashtra announced that Tata would receive a state funeral in recognition of his invaluable contributions to Indian society and industry. Social media platforms were flooded with tributes under hashtags like #RatanTata and #EndOfAnEra, reflecting the profound impact he had on countless lives.
Conclusion
Ratan Tata’s death is not merely a loss for his family and friends; it represents a significant loss for a nation that viewed him as a guiding light in both business and philanthropy. His legacy will continue to inspire future generations as they navigate the complexities of industry and social responsibility. Ratan Tata may be gone, but his remarkable life and contributions will be remembered for years to come.
As India mourns this great leader, it is vital to reflect on his enduring impact—one that transcended corporate boundaries and touched lives across various sectors. Ratan Tata leaves behind a legacy characterized by integrity, compassion, and an unwavering commitment to upliftment.
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Andhra Pradesh Hotels Association Announces Boycott of Swiggy Over Unethical Practices and Payment Delays!
Published
2 days agoon
October 8, 2024The Andhra Pradesh Hotels Association (APHA) has declared a statewide boycott of Swiggy, effective October 14, 2024. This decision stems from ongoing grievances regarding the food delivery platform’s alleged unethical practices and its failure to make timely payments to restaurants.
Reasons for the Boycott
At a media conference on October 4, APHA President R.V. Swamy outlined several critical issues that prompted this drastic action. One of the primary concerns is the significant financial losses that restaurants are experiencing due to Swiggy’s high commission rates. Initially, both Swiggy and Zomato operated in Andhra Pradesh with zero commission fees. However, these rates have escalated over time, with Swiggy now charging between 20% to 30% on orders. According to Swamy, restaurants are losing between 40% to 60% of their menu prices because of these practices.
Another major issue raised by the APHA is the delay in payouts from Swiggy, which reportedly holds restaurant earnings for up to 12 days. This delay places immense financial strain on smaller establishments that rely heavily on timely revenue to sustain their operations.
Allegations of Unethical Practices
The APHA has accused Swiggy of implementing “uninformed discounts,” where price reductions are applied without consulting restaurant management. This practice not only affects the profits of the establishments but also leads to confusion among customers regarding pricing. Furthermore, members of the association expressed concerns about Swiggy altering restaurant menus without prior consent, often selling items at lower prices or offering promotions like “Buy One Get One Free.” Such actions undermine restaurants’ pricing strategies and can damage their brand integrity.
Additionally, the association criticized Swiggy’s refund policies, stating that neither customers nor restaurants receive refunds for canceled orders. This lack of accountability exacerbates the financial difficulties faced by restaurants already struggling with high operational costs.
Response from Zomato
In contrast to Swiggy, Zomato has reportedly engaged in constructive discussions with the APHA and has shown willingness to address many of their concerns. Zomato’s responsiveness has fostered a more favorable relationship with restaurant owners, highlighting a growing divide in how each platform is perceived within the industry.
Future Implications
The impending boycott against Swiggy signifies a critical moment in the ongoing tensions between food delivery platforms and local businesses. As APHA prepares to halt sales through Swiggy, it remains uncertain how this decision will affect both the delivery service and participating restaurants across Andhra Pradesh.
This boycott could serve as a wake-up call for food delivery companies to reassess their business practices and consider more equitable arrangements with restaurant partners. The outcome may influence similar actions in other regions as restaurant owners increasingly seek fair treatment in an evolving market landscape.
In conclusion, the APHA’s decision to boycott Swiggy reflects deep-rooted frustrations within the restaurant industry regarding commission rates, payment practices, and overall treatment by food delivery platforms. As the deadline approaches, all eyes will be on how both parties respond and whether any resolutions can be reached before October 14.
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