E-Cell IIT BHU's Weekly Newsletter
Hello, Beings of the Universe!👾
With Madness all around the multiverse,🧑🚀 you don’t need Darkhold 📔 to make sense of everything. We are here to explore multiple dimensions of the Startup Space 🚀 this week in the 17th edition of our weekly newsletter.
Swiggy Acquires Dineout To Take On Zomato’s Dine-In Biz!! 🍽
Food delivery giant Swiggy is ready to enter the dine-in business by acquiring Dineout, a dining and online restaurant table booking service platform. The deal is expected to be valued between $150 Mn and $200 Mn.💰
Dineout brings over 50,000 restaurant partners to Swiggy, but the move is also likely to get Dineout to Swiggy-operating geographies.🥡
SteppinOut (Acquired by Dineout) will enable Swiggy to host multiple types of offline events ranging from food festivals, night markets, stand-up comedy events, and movie nights, among others. 👯
With Dineout’s acquisition, Swiggy is set to take on Zomato’s dine-in business, bringing dining reservations to its suite of offerings, which were once Zomato’s core business.🍴
A/B testing compares two variants of something that will perform more effectively in the market. These variations, called 🅰️ and 🅱️, are displayed randomly to the different users of the startup. Some will see version 🅰️, and the remaining portion will see version 🅱️.
This strategy is commonly used by marketing and advertising professionals 📢, who show multiple versions of an ad, marketing email, or web page to randomly selected users and then analyze the results.📈
“There is nothing quite so useless, as doing with great efficiency, something that should not be done at all.”
― Peter F. Drucker
How to effectively evaluate startup/product ideas? 💡
One of the core functions of a founder is to make sure that the team 🧑💼 is working on the next most valuable thing. Knowing the most valuable thing to work on is not an intuition-based determination.
The Risk Exploration Framework ✅
The following matrix sets a framework with some questions that will help you systematically attack startup/product ideas. This matrix combines some elements of the Socratic method of questioning and Marty Cagan’s four types of product discovery risks.📊
Netflix has thousands of videos to choose from for a night (or day) of marathon watching.📼 The problem is: how do you pick what to watch? It can be daunting searching through various titles, so much so that you may skip watching anything altogether. 📽️
Netflix tries to make it easier to pick titles through the personalization of their site—including the thumbnails you’ll see for every piece of content in their catalog. 🎞️ Watch A/B Testing application in actual business application.
That’s all for this week, folks! Stay tuned for more fun stories and interesting news from the startup world. Until we meet again.
Goodbye👋👋, Happy reading 📖