Entrepreneur Stories
Women Entrepreneurs Ruling The Indian Startup Game
Published
7 years agoon
India as a country, has been the victim of patriarchy since men decided they just had to have the last word. Ironically, there have been only a smattering of women in power and it has been only now that the times have finally changed. The 21st century brought forth a new wave of growth, change and ideas. Women started revisiting their inner potential and are moving forward with renewed vigour.
Spanning diverse fields like food, fashion, technology and education, these women have challenged the startup game from being housewives to creating a brand new niche for themselves. Here is a list of women who have set the ball rolling for a brand new path in innovation and creation.
1. Shubbra Chadda – Chumbak
Shubbra Chaddha took a while to realise her dream and when she finally knew what it was, boy, did she make a splash! Shubbra’s brand, Chumbak, took the country by a storm by becoming one of the first companies that sells funky and creative designs, with a wide array of accessories, bags and nick nacks. A store that resonates with class, style and easy sophistication, Chumbak has set the stage for those who dare to dream.
2. Chiki Sarkar – Juggernaut Books
After heading major publishing houses like Penguin India and Random House India, Chiki Sarkar decided the time had come to branch out into the world of smartphones. With this in mind, she began Juggernaut Books, the country’s first smartphone publishing house. Through this platform, Chiki Sarkar plans on expanding the number of books available to the world. As one moves into a world governed by technology, this company comes as a refreshing change for growth.
3. Suchi Mukherjee – Limeroad
When Suchi Mukherjee returned to India from the United States, after a gap of 17 long years, she wanted to create something that was truly wonderful. However, her road to success was not easy. Armed with a goal in mind, the path to achieving the impossible was not a simple task. With a dream in hand and a world of opportunities in front of her, Suchi created Limeroad in 2011, an online shopping platform for those who did not have the patience to go shop in actual stores. A fashion portal that uses social discovery to stand out from competitors with features such as personalised stylist recommendations and scrapbooking to customised looks, Limeroad is every shopper’s dream come true!
4. Suchita Salwan – Little Black Book
A foodie with a desire to look for new places set the ground for Suchita Salwan’s Little Black Book. Established platforms like Just Dial, Zomato and Swiggy failed to satiate her continuing hunger pangs. With the aim of creating something out of the ordinary, Suchita founded a platform which caters to a very niche and exclusive clientele. The rest, as they say, is history.
5. Richa Singh – YourDost
Richa Singh saw people continuously facing negativity which more often than not, would lead to depression. When a fellow hosteler ended their life, Richa realised empathy and compassion are what is needed to make the world a better place. With this one thought in mind, Richa Singh started YourDost, a platform that not only gives you a friend for life but also gives you an opportunity to get over all the problems one faces on a regular basis.
6. Kanika Tekriwal – JetSetGo
The saying, “the sky is the limit” perfectly suits Kanika Tekriwal. The founder of JetSetGo, India’s first private planes chartering service, Kanika succeeded with flying colors. This company lets people book private planes for everything from weddings to business purposes. Often described as the Uber of the skies, JetSetGo boasts of having the largest fleet of aeroplanes.
7. Falguni Nayar – Nykaa
After a long stint as an investment banker, Falguni Nayar founded Nykaa.com in the year 2013. An online one stop shop for beauty products from Indian and international brands, Nykaa changed the world of online shopping. Who would have ever thought buying makeup online would be so easy? Falguni Nayar proved all of us wrong and created a brand new place for people who love experimenting with styles, designs and colors.
8. Sairee Chahal – Sheroes
Sheroes is the first website of its kind, giving women the chance to work in the field about which they are really passionate. If you are a woman looking for a career change or a new workplace, then Sheroes is the perfect platform for you. Sairee created this website solely dedicated to women. Besides connecting businesses and interested employees to each other, Sheroes provides mentorship and support to career oriented women.
9. Shahnaz Husain – Shahnaz Herbal Inc
Despite being married off at the very young age of 16, Shahnaz Husain realised where her true passion lay. With a major interest in everything related to fashion and beauty, Shahnaz turned her dream into reality with Shahnaz Herbal Inc. Best known for creating herbal skin care and cosmetic products without animal testing, Shahnaz has grown like never before. With over 400 clinics in 138 countries across the world, Shahnaz has been bestowed with the Padmashree Award in 2006 for her commendable effort in making the world of cosmetics a better, cleaner and healthier place.
10. Rashmi Sinha – Slideshare
Rashmi Sinha, a PhD holder in neuropsychology from Brown University, co founded SlideShare with her husband in 2006. Within just a couple of years, the website was so popular, it got acquired by LinkedIn for $ 100 million in the year 2012! Ranked number 8 in Fortune’s Most Powerful Entrepreneurs List, Rashmi was also named as the World’s Top 10 Women Influencers in the world of web.
From the accomplishments of these pioneering women, one thing stands out. The times, they are a changing. Women know what they want and what needs to be done to get what they want. They are here. They are now. They are finally coming into their own and soon, the world is going to be a much better place.
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Entrepreneur Stories
OpenAI Expands ChatGPT Advanced Voice Mode to Web Users!
Published
4 weeks 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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