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Successful Companies Founded By College Students

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Facebook and Google are the most well known examples of successful companies started by college students.  However, there are many such businesses which began on college campuses and turned into successful and iconic companies.   Here is a list of five such companies which were founded by college students.

Successful companies founded by college students

1) Time

Time is a reputed American weekly magazine founded in 1923.  Its founders, Britton Hadden and Henry Luce, were classmates at Yale University when they founded the Magazine, making Time the first weekly news magazine in the United States.  Now, after 96 years since its foundation, Time is still a popular weekly magazine with a readership of 26 million worldwide.

2) Dell

Dell is a multinational computer technology company which develops and sells computer related products.  The Company was founded by Michael Dell in 1984, while he was a student at the University of Texas at Austin.  Michael Dell started his business from his dorm room and after making profits from it, dropped out of college to devote his time to build his company.  The success of Dell Technologies Inc., made Michael Dell one of the richest people in the world, with a net worth of $ 35 billion. 

3) The Onion

The Onion is a satirical digital media company which was conceived by University of Wisconsin students Tim Keck and Christopher Johnson in 1988.  The duo initially started a satirical weekly magazine called The Onion, inspired by an onion sandwich.  Short on funds just like many other college students, the duo began their business with a loan from Keck’s mother.  The Company has grown from just a weekly magazine to a huge and beloved digital media organization.

4) Insomnia Cookies

Inspired by midnight cravings for cookies, Insomnia Cookies was founded by a University of Pennsylvania student, Seth Berkowitz.  Berkowitz started baking cookies in his dorm room and started selling them to other students at his college. After the demand grew, Berkowitz branched to other campuses.  Insomnia Cookies became a popular chain of bakeries in the United States of America and is present in over 150 locations nationwide. 

5) Reddit

Reddit was founded as a social news site in 2005 by the University of Virginia students and roommates Steve Huffman and Alexis Ohanian.  The duo struggled in the initial days of the startup, before securing a funding from Y Combinator. Reddit gradually became a popular site and is adored by many because of its unique and interesting features.  The site is now dubbed as the “front page of the internet,” with a net worth of $ 1.8 billion.

The success of these founders and their companies shows students with great potential can utilize the resources colleges provide and create a successful career for themselves.

The success story of which of these companies inspired you the most?  Comment below and let us know.

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Andhra Pradesh Hotels Association Announces Boycott of Swiggy Over Unethical Practices and Payment Delays!

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The 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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Mahindra Group Launches Dedicated AI Division to Drive Innovation and Efficiency Across Its Business Portfolio!

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The Mahindra Group has taken a significant step forward in its digital transformation journey by launching a dedicated Artificial Intelligence (AI) division. This initiative, spearheaded by Bhuwan Lodha, aims to harness the power of AI across the conglomerate’s diverse business sectors, streamlining operations and enhancing overall efficiency.

Centralizing AI Efforts

The newly established AI division is designed to centralize all AI-related activities within the Mahindra Group. By consolidating these efforts, the group seeks to implement a more coherent and effective strategy for utilizing AI technologies across its various enterprises. Lodha, who previously served as the digital chief for Mahindra’s automotive sector, emphasized that the growing importance of AI over the past two years necessitated this focused approach. He noted that many companies had been experimenting with AI on a smaller scale, but now there is a concerted effort to bring these initiatives into mainstream operations.

Tailored Solutions for Diverse Sectors

The AI division is committed to developing tailored solutions that cater specifically to the needs of Mahindra’s diverse business units, which include automotive, real estate, and hospitality. The division will not only create proprietary solutions but will also seek out innovative technologies from startups and academic institutions globally. This collaborative approach aims to ensure that each sector benefits from cutting-edge advancements in AI.

Collaboration with Tech Mahindra

While the new division will not have the same capacity to hire domain specialists as Tech Mahindra, the group’s IT services arm, it plans to closely collaborate with Tech M to leverage their expertise. This partnership will facilitate the development and deployment of advanced AI solutions tailored to enhance operational efficiency across Mahindra’s various businesses.

Building Talent and Career Opportunities

One of the key goals of the AI division is to consolidate talent within the Mahindra Group. By creating a dedicated career path for professionals specializing in AI, the division aims to attract and retain skilled workers who can contribute meaningfully across multiple sectors. Lodha highlighted that this initiative would not only provide exciting career opportunities but also foster a culture of innovation within the organization.

Generative AI Implementation

Mahindra & Mahindra (M&M), a prominent entity within the group, has already begun implementing generative AI technologies in its operations. The company has automated maintenance processes for robots and heavy machinery on factory floors, significantly reducing downtime and improving productivity. Additionally, generative AI is being utilized to enhance customer service through advanced chatbots, which streamline interactions and save time for customer service agents.

Strategic Partnership with Google Cloud

In a complementary move, Tech Mahindra recently announced a strategic partnership with Google Cloud aimed at accelerating generative AI adoption across Mahindra’s businesses. This collaboration will leverage Google Cloud’s advanced AI technologies to develop applications that enhance critical business functions such as engineering, supply chain management, and customer service. By integrating these technologies, Mahindra aims to optimize operations and improve customer experiences significantly.

Conclusion

The establishment of a dedicated AI division within the Mahindra Group underscores its commitment to embracing technological innovation as a driver of business success. By centralizing its AI initiatives and fostering collaboration with industry leaders like Tech Mahindra and Google Cloud, the group is well-positioned to unlock new growth opportunities across its diverse portfolio. As this division evolves, it will be interesting to observe how it transforms operations within Mahindra and sets new benchmarks in various industries.

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CCI Approves Merger Between Reliance and Disney

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CCI Approves Merger Between Reliance and Disney

Competition Commission of India (CCI) has granted approval for the merger between Reliance Industries Limited (RIL) and The Walt Disney Company’s Indian media assets, valued at approximately ₹70,000 crore (or $8.5 billion). This significant development was announced on August 28, 2024, and is set to create the largest entertainment
conglomerate in India, encompassing 120 television channels and two streaming services.

The merger involves RIL, Viacom18 Media Private Limited, Digital18 Media Limited, Star India Private Limited, and Star Television Productions Limited. Following the deal, Reliance will hold a 63.16% stake in the new joint venture, while Disney will retain 36.84%. The CCI’s approval comes after previous concerns regarding the merged
entity’s potential dominance in cricket broadcasting rights, which could adversely affect competition and advertisers in the market.

The CCI noted that the approval is contingent upon the compliance with certain “voluntary modifications,” although specific details of these modifications have not yet been disclosed. The merger is expected to be completed by the end of 2024 or early 2025, with Nita Ambani appointed as the Chairperson and Uday Shankar as Vice
Chairperson of the joint venture.

This merger positions the new entity to compete vigorously against major players such as Sony, Netflix, and Amazon, leveraging a vast content library and extensive distribution capabilities. The merger agreement also includes provisions for Disney’s films and productions to be distributed in India through the new joint venture, which is anticipated to significantly enhance its market presence and operational efficiency in the competitive entertainment landscape.

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